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.

Virya Resources Limited has informed the Bombay Stock Exchange that a meeting of its Board of Directors is scheduled to be held on Friday, May 29, 2026. The meeting will take place at 3.00 P.M. at the Corporate Office of the company to consider and approve several key agenda items.

The primary focus of the meeting is the approval of the Standalone and Consolidated Audited financial results for the quarter and year ended March 31, 2026. Additionally, the board will consider the approval of the Audit Report by the Statutory Auditors for the Financial Year ended March 31, 2026. The directors will also approve the resignation of the Company Secretary and Compliance Officer of the company.

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the company has stated that the Trading Window for dealing in securities of the company will remain closed until 48 hours from the dissemination of the financial results to the Exchanges.

Agenda for Board Meeting