Virgo Polymers FY26 Net Profit Plunges 82% to ₹42.3 Lakh Amid Revenue Decline
Virgo Polymers (India) Limited posted an 82% decline in FY26 net profit to ₹42.3 lakh, with revenue from operations falling 15.5% to ₹15,365.9 lakh. The company published its audited financial results in Trinity Mirror (English) and Makkal Kural (Tamil) on May 31, 2026, under Regulation 47. A new CFO, Mr. Jayasankar O, was appointed effective May 29, 2026, while total assets contracted sharply to ₹6,200.58 lakh from ₹11,818.33 lakh.
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Virgo Polymers (India) Limited reported an 82% decline in net profit to ₹42.3 lakh for the financial year ended March 31, 2026, compared to ₹231.9 lakh in the previous year. Revenue from operations fell 15.5% to ₹15,365.9 lakh from ₹18,182.7 lakh in FY25, impacted by increased purchases of stock in trade which totalled ₹12,558.4 lakh against ₹11,428.8 lakh a year ago. The company's total assets decreased significantly to ₹6,200.58 lakh as of March 31, 2026, from ₹11,818.33 lakh in the prior year, largely due to a reduction in trade receivables. The board approved the standalone annual audited financial results for FY26 on May 29, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory auditors, Venkat & Rangaa LLP, issued an unmodified opinion on the financial statements. The company operates a single reportable business segment focused on the manufacture of Flexible Intermediate Bulk Containers.
Financial Performance
For the quarter ended March 31, 2026, the company posted a net profit of ₹20.1 lakh, a sharp decrease from ₹193.7 lakh in the corresponding quarter of the previous year. Revenue for the quarter dropped to ₹3,541.4 lakh from ₹9,466.8 lakh in Q4FY25. Total expenses for the year stood at ₹15,563.1 lakh, lower than the ₹18,365.8 lakh recorded in FY25, aided by reduced costs for raw materials and employee benefits. The following table summarises the key financial metrics for the full year:
| Metric: | FY26 (₹ in lakh) | FY25 (₹ in lakh) | Change |
|---|---|---|---|
| Revenue from Operations: | 15,365.9 | 18,182.7 | -15.5% |
| Net Profit: | 42.3 | 231.9 | -81.8% |
| Total Expenses: | 15,563.1 | 18,365.8 | -15.3% |
| Earnings Per Share (Basic): | 0.60 | 6.80 | -91.2% |
Regulatory Disclosure
Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published an advertisement in connection with its audited financial results for the quarter and financial year ended March 31, 2026, in two newspapers on May 31, 2026. The publication details are as follows:
| Newspaper: | Edition: |
|---|---|
| Trinity Mirror: | English |
| Makkal Kural: | Tamil |
The disclosure was communicated to BSE Limited by Managing Director Vivek Ramsisaria on June 2, 2026.
Management Changes
In a key management shift, the board appointed Mr. Jayasankar O as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective May 29, 2026. This appointment follows the resignation of Mrs. Bhavani as CFO and KMP, effective May 13, 2026. Mr. Jayasankar brings over 16 years of experience, including 13 years in the manufacturing sector, and holds a Bachelor of Commerce degree from the University of Calicut.
Balance Sheet and Cash Flows
The balance sheet reflects a substantial contraction in the company's financial scale. Trade receivables fell to ₹3,057.96 lakh from ₹7,729.09 lakh, while cash and cash equivalents improved to ₹654.55 lakh from ₹186.95 lakh. Long-term borrowings decreased drastically to ₹68.14 lakh from ₹3,918.02 lakh. The cash flow statement shows a net increase in cash and cash equivalents of ₹467.61 lakh for the year, driven by positive cash flow from operating activities amounting to ₹5,081.76 lakh.
How will the new CFO's experience influence the company's strategy to reverse the decline in net profit?
What measures will be taken to manage the significant reduction in trade receivables and improve revenue growth?
Will the improved cash position be utilized to reduce debt further or invest in expanding the Flexible Intermediate Bulk Containers segment?
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