Vishnu prakash r punglia Limited has announced that promoter Anil Punglia has pledged 10 lakh shares of the company to generate liquidity for intended fund infusion. The disclosure was made under SEBI Regulation 31 pertaining to substantial acquisition of shares and takeovers, dated February 20, 2026.

Share Encumbrance Details

The pledge transaction involves a significant portion of the promoter's shareholding in the company. Anil Punglia created an encumbrance on February 11, 2026, by pledging shares to Bikewin Trading Private Limited.

Purpose and Transaction Structure

The encumbrance was created specifically to generate liquidity for the intended infusion of funds into the company. This represents a strategic move by the promoter to support the company's capital requirements through pledging a portion of his equity stake.

Promoter Holdings Overview

Prior to this pledge transaction, Anil Punglia held 45 lakh shares representing 3.61% of the total share capital without any encumbrance. The current pledge of 10 lakh shares constitutes 0.80% of the company's total share capital.

Regulatory Compliance

The disclosure has been made to both NSE and BSE where the company's shares are listed, ensuring compliance with SEBI regulations for transparency in promoter share transactions. The formal disclosure was signed and submitted from Jodhpur on February 20, 2026, maintaining regulatory adherence for substantial shareholding changes.

Vishnu Prakash R Punglia Limited reported a net loss of ₹29.98 crore for the quarter ended December 31, 2025 (Q3FY26), marking a significant decline from the net profit of ₹3.65 crore recorded in the previous quarter. The company's financial performance was severely impacted by an exceptional item of ₹99.64 crore related to the termination of a major railway infrastructure project.

Financial Performance Overview

The company's quarterly results showed mixed performance across key metrics:

Revenue from operations declined significantly to ₹1,774.81 crore in Q3FY26 from ₹2,956.85 crore in the previous quarter, representing a 40.00% quarter-on-quarter decrease. Other income increased to ₹37.81 crore from ₹22.24 crore in Q2FY26.

Nine Months Performance

For the nine months ended December 31, 2025, the company's performance deteriorated compared to the corresponding period:

Contract Termination Impact

The company faced a significant setback when Chief Engineer (Construction) - III, North Western Railway rescinded the contract for the "Jaipur - Sawai Madhopur Doubling Project" through a termination notice dated January 13, 2026. Subsequently, the railway authority encashed the performance bank guarantee and forfeited the security deposit, resulting in an aggregate impact of ₹99.64 crore.

Vishnu Prakash R Punglia has filed Civil Writ Petition No. 983/2026 against Chief Engineer (Construction) - III North Western Railway before the Rajasthan High Court, Jodhpur. The matter is currently pending for hearing and adjudication. The company's management expects to succeed in the proceedings with high likelihood of contract restoration and reversal of adverse action based on strong legal and factual grounds.

Operational Expenses Analysis

The company's expense structure showed variations across categories:

Total expenses for Q3FY26 were ₹2,106.68 crore compared to ₹2,045.43 crore in the previous quarter.

Joint Operations and Business Segments

The company operates through 19 jointly controlled operations incorporated on a proportionate basis. However, one joint operation named VPRPL-KALPATARU JV has not been incorporated in the financial results due to disputes with the joint venture partner, resulting in no access to the operation's financials.

The company and its jointly controlled operations are exclusively engaged in construction and infrastructure development in India, which constitutes the single operating segment under Indian Accounting Standard 108.

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