VISA Chrome returns to profitability in FY26
VISA Chrome Limited returned to profitability in FY26 with a net profit of ₹1,050.15 crore, compared to a net loss of ₹516.55 crore in the previous year, largely due to exceptional items of ₹1,089.11 crore. Revenue from operations for the year stood at ₹561.62 crore. Despite the profit, statutory auditors expressed concerns about the company's ability to continue as a going concern due to eroded net worth, though a restructuring plan with ACRE is in place.
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VISA Chrome Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹1,050.15 crore against a net loss of ₹516.55 crore in the previous year. The turnaround was primarily driven by exceptional items totaling ₹1,089.11 crore, which included the write-back of the difference between outstanding and settlement amounts for loan exposures and interest waivers. Despite the profit, the statutory auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern due to accumulated losses and eroded net worth, though a restructuring plan with Assets Care and Reconstruction Enterprise (ACRE) has been sanctioned.
The Board of Directors approved the audited standalone and consolidated financial results for FY26 on May 25, 2026. M/s. Singhi & Co., Chartered Accountants, the statutory auditors, issued an unmodified opinion on the results. Revenue from operations for the year stood at ₹561.62 crore, slightly lower than the ₹566.21 crore recorded in FY25. Total income for the period was ₹568.01 crore.
Financial Performance
The company's financial recovery was underpinned by one-time gains. For the year ended March 31, 2026, profit before tax surged to ₹1,050.15 crore from a loss before tax of ₹516.55 crore in the prior year. The exceptional items for the year comprised a write-back of ₹1,082.20 crore related to loan settlements and an interest waiver of ₹6.91 crore from VISA Infra Limited.
| Metric (₹ in Crore) | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
|---|---|---|
| Revenue From Operations | 561.62 | 566.21 |
| Total Income | 568.01 | 567.43 |
| Total Expenses | 606.97 | 614.66 |
| Profit Before Tax | 1,050.15 | (516.55) |
| Net Profit | 1,050.15 | (516.55) |
Auditor's Observations
The statutory auditors noted that the company's current liabilities substantially exceed its current assets and that its net worth has been fully eroded. These conditions indicate a material uncertainty that may cast doubt on the company's ability to continue as a going concern. However, the management has prepared the financial results on a going concern basis, relying on the successful implementation of the restructuring plan with ACRE and improved availability of working capital.
Corporate Governance
Based on the recommendations of the Audit Committee, the Board reappointed M/s. DGM & Associates as Cost Auditor and M/s. L. B. Jha & Co. as Internal Auditor for the financial year 2026–27. The remuneration for the Cost Auditor will be placed before shareholders for ratification at the upcoming Annual General Meeting.
Historical Stock Returns for VISA Chrome
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.24% | +5.05% | +21.92% | -4.02% | +52.59% | +447.17% |
What specific operational milestones must VISA Chrome Limited achieve under the ACRE restructuring plan to resolve the material uncertainty regarding its going concern status?
How does the company plan to sustain profitability in FY27 given that the recent turnaround was driven primarily by one-time exceptional items rather than core revenue growth?
What measures are being taken to improve working capital availability and bridge the gap between current liabilities and current assets?
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