Virya Resources Limited approved the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, during its 40th Annual General Meeting (AGM) held on September 29, 2026. The meeting, conducted via Video Conferencing (VC) and Other Audio-Visual Means (OAVM), also ratified key director re-appointments.

The proceedings were chaired by Director Candra Winoto Salim. Five directors were present, including V V Subrahmanyam, Sukhdev Singh, Arudji Kiswanto, and Harry Tri Respati. A total of 18 members participated in the video conference. The company’s statutory auditor, Nageshwar Rao, and practicing company secretary P Sarada, who served as the scrutinizer, were also in attendance.

Resolution outcomes

Shareholders deliberated on three primary resolutions proposed in the notice dated September 1, 2026. All resolutions were duly passed following remote e-voting and live voting during the meeting.

Sukhdev Singh, being eligible, offered himself for re-appointment and was duly appointed. Conversely, Madhireddy Venkata Subbalakshmi retired by rotation and did not offer herself for re-appointment. The shareholders resolved not to fill the vacancy caused by her retirement during this AGM.

Voting and procedural details

The company facilitated remote e-voting for all resolutions. The e-voting window opened on September 21, 2026, at 9:00 am and closed on September 28, 2026, at 5:00 pm. Members who did not vote remotely were permitted to cast their votes during the live meeting.

Director V V Subrahmanyam invited shareholders to raise queries or express views. No questions were received from the attendees. The results of the e-voting will be communicated to the stock exchanges and published on the company website following the submission of the scrutinizer's report.

Governance and compliance

The AGM was held in compliance with Ministry of Corporate Affairs guidelines and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Live streaming of the meeting was available to participants. The notice of the AGM and the auditors' report were taken as read with the permission of the members.

Virya Resources reported a consolidated net loss of ₹28.23 lakh for the financial year ended March 31, 2026 (FY26), widening from a loss of ₹16.79 lakh in FY25. The company recorded zero revenue from operations during the period.

The board of directors approved the standalone and consolidated audited financial statements along with the notice for the 40th Annual General Meeting (AGM). The meeting is scheduled to take place on Tuesday, September 29, 2026, at 4:00 pm through video conferencing or other audio-visual means.

Financial Performance

Virya Resources continued to report no material operating business during FY26. Consequently, income from operations remained at nil. The company incurred total expenses of ₹28.25 lakh on a consolidated basis, driven primarily by employee benefits expense of ₹8.30 lakh and other expenses of ₹19.95 lakh.

On a standalone basis, the company reported a net loss of ₹28.20 lakh compared to ₹16.85 lakh in the previous year. Earnings per share stood at negative ₹1.88 for both basic and diluted calculations, down from negative ₹1.12 in FY25.

Balance Sheet Highlights

As of March 31, 2026, the company's total consolidated assets stood at ₹685.22 lakh, an increase from ₹668.08 lakh in the prior year. Non-current loans and advances rose to ₹573.40 lakh from ₹557.61 lakh. Cash and cash equivalents increased slightly to ₹2.43 lakh from ₹2.19 lakh.

Total equity and liabilities remained stable at ₹685.22 lakh. Borrowings included non-current liabilities of ₹73.69 lakh, while current borrowings decreased significantly to ₹5.00 lakh from ₹71.02 lakh in FY25. Trade payables increased to ₹21.05 lakh from ₹7.55 lakh.

Key Corporate Actions

The board held a meeting on September 1, 2026, to finalize the schedule for the upcoming AGM. Shareholders must hold shares as of the record date defined by the book closure period from September 19, 2026, to September 28, 2026, to be eligible for voting rights.

To participate in remote e-voting, shareholders must be on the register as of the cut-off date of September 18, 2026. The board appointed Ms. Putcha Sarada, a practicing Company Secretary based in Hyderabad, as the scrutinizer for the e-voting process.

Board Changes

Director Sukhdev Singh retires by rotation at the ensuing AGM and offers himself for re-appointment. Conversely, Director Madhireddy Venkata Subbalakshmi retires by rotation but does not offer herself for re-appointment. Mr. B S Bhaskar resigned from the position of Company Secretary & Compliance Officer effective May 21, 2026.

What the Numbers Show

The widening loss despite zero operational revenue highlights the fixed cost burden on the company's structure. With total expenses rising 67.2% year-on-year to ₹28.25 lakh while revenue remained nil, the burn rate accelerated significantly. The increase in other expenses, particularly listing and BSE fees (₹4.20 lakh) and rent (₹5.38 lakh), underscores the compliance and administrative costs associated with maintaining listed status without active commercial operations.