Vishnu Prakash R Punglia Limited reported a net loss of ₹1,501.16 million for the financial year ended March 31, 2026, reversing the net profit of ₹585.96 million in FY25. The infrastructure firm attributed the loss before tax of approximately ₹151.77 crore during the quarter to exceptional, non-recurring, and timing-related factors rather than a deterioration in business fundamentals. Management emphasized that significant recoveries are expected from contractual claims, pending approvals, and price escalation provisions, ensuring long-term viability.

The Board of Directors approved the standalone financial results on May 30, 2026. The results were reviewed by the Audit Committee and accompanied by an audit report from Statutory Auditors M/s Banshi Jain & Associates Chartered Accountants. While the auditors issued an unmodified opinion, they highlighted material uncertainty relating to going concern due to a severe cash crunch caused by delays in receivables. The company published the audited financial results in the Financial Express and Navshakti on June 2, 2026, pursuant to Regulation 47 of SEBI (LODR) Regulations, 2015.

Financial Performance

Revenue from operations for the year fell to ₹8,511.95 million from ₹12,374.18 million in FY25, while total income stood at ₹8,613.95 million. Total expenses for the year totaled ₹10,286.91 million, compared to ₹11,656.74 million in the previous year. Basic and Diluted Earnings Per Share (EPS) for the year stood at (12.04), compared to 4.70 in the prior year.

The quarter ended March 31, 2026 reflected a sharp deterioration, with the company reporting a net loss of ₹1.3 billion against a net profit of ₹162 million in the same quarter of the prior year. Revenue from operations fell to ₹1 billion from ₹4.05 billion, while EBITDA swung to a loss of ₹1.3 billion from a gain of ₹456 million.

One-Time Challenges and Provisions

Management identified specific factors driving the quarterly loss, including the termination of the Jaipur–Sawai Madhopur project, which resulted in a total impact of ₹22.42 crore. This included a one-time charge of approximately ₹12.46 crore and an exceptional item of ₹9.96 crore recognized in the previous quarter. The company also reversed revenue of ₹17.65 crore due to pending departmental approvals and incurred additional project costs of approximately ₹32.00 crore due to delayed payments by government departments.

Furthermore, the company recognized Expected Credit Loss (ECL) provisions and other accounting provisions aggregating approximately ₹65 crore during the quarter. Management stated that these provisions are accounting-driven adjustments and do not necessarily represent actual cash losses. The company repaid and closed borrowing facilities aggregating approximately ₹340 Crore during the year to manage liquidity constraints.

Vishnu Prakash R Punglia Limited has appointed new auditors for the financial year 2026-27 and approved a proposal to increase its authorized share capital. The decisions were taken during a board meeting held on May 30, 2026. The company appointed M/s Rajendra Singh Bhati & Co. as the cost auditor and M/s R.G. Maheshwary & Co. as the internal auditor upon the recommendation of the Audit Committee. Additionally, the board recommended to the members an increase in authorized share capital from ₹150 crore to ₹200 crore.

The board approved the alteration of the capital clause in the Memorandum of Association to facilitate the increase in authorized share capital. The existing capital of ₹150 crore, divided into 15 crore equity shares of ₹10 each, will be increased to ₹200 crore, divided into 20 crore equity shares of ₹10 each. The new shares will rank pari passu with the existing equity shares.

Auditor Appointments

The appointment of M/s Rajendra Singh Bhati & Co. as cost auditor is pursuant to Section 148 of the Companies Act, 2013. The firm, based in Jodhpur, Rajasthan, holds a Membership No. of 33509 and an FRN of 101983. M/s R.G. Maheshwary & Co. was appointed as internal auditor pursuant to Section 138 of the Companies Act, 2013. The firm holds a Registration No. (FRN) of 012124C. Both firms have consented to act and are qualified for the appointment.

Key Details of Appointments

The disclosures regarding these appointments were made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant SEBI circulars. The board meeting commenced at 12:00 P.M. and concluded at 05:15 P.M.