Chrome Silicon Limited , formerly known as VBC Ferro Alloys Ltd, has announced its unaudited financial results for the quarter ended September 30, 2025, revealing a net loss of ₹514.58 lakh. The company, which has temporarily suspended its Ferro Alloys manufacturing operations since May 30, 2025, due to significant market fluctuations, continues to face financial challenges.

Financial Performance

The company's financial results for Q2 2025 paint a picture of ongoing difficulties:

Chrome Silicon Limited's total income for Q2 2025 stood at ₹451.79 lakh, a significant decrease from ₹1,137.62 lakh in the same period last year. The sharp decline in sales revenue, from ₹1,080.58 lakh in Q2 2024 to just ₹28.95 lakh in Q2 2025, reflects the impact of the suspended manufacturing operations.

Operational Challenges

The company has temporarily halted operations at its Ferro Alloys manufacturing facilities since May 30, 2025. Chrome Silicon Limited attributes this decision to significant fluctuations in the market, which have adversely affected demand for its products. Management has stated that they are closely monitoring market conditions and will take appropriate steps to resume operations when deemed suitable.

Auditor's Observations

The limited review report by the company's auditors, Pavuluri & Co., highlights several concerns:

1. Non-compliance with Ind AS 19 (Employee Benefits): The company has not made provisions for future gratuity and leave encashment payments as required.
2. Uncertainty over loan recoverability: There are material uncertainties regarding the recoverability of interest-free loans and advances amounting to ₹210.20 crore.
3. Inventory valuation issues: The company has not undertaken periodic physical verification of inventories or obtained technical/market evaluations.
4. Lack of balance confirmations: The company has not obtained balance confirmations for significant amounts of trade payables and other liabilities.
5. Inadequate asset verification: The management did not carry out the scheduled physical verification of Property, Plant and Equipment during the year.

Financial Position

As of September 30, 2025, Chrome Silicon Limited reported:

• Total Assets: ₹24,969.90 lakh
• Total Liabilities: ₹22,981.87 lakh
• Net Worth: ₹1,988.03 lakh

The company's balance sheet shows a decrease in property, plant and equipment from ₹12,258.40 lakh as of March 31, 2025, to ₹11,919.10 lakh as of September 30, 2025. However, there has been an increase in capital work-in-progress from ₹1,049.16 lakh to ₹1,704.41 lakh during the same period.

Looking Ahead

Chrome Silicon Limited faces significant challenges as it navigates through market uncertainties and operational suspensions. The company's ability to address the auditors' concerns, manage its financial position, and successfully resume operations will be crucial for its future performance. Stakeholders will be closely watching for any signs of market improvement that might allow the company to restart its manufacturing facilities and return to normal operations.

Chrome Silicon (formerly known as VBC Ferro Alloys Ltd) has announced several key decisions following its Board of Directors meeting held on September 6, 2025. The company, listed on the Bombay Stock Exchange under the scrip code 513005, has made significant changes to its corporate strategy and governance.

Annual General Meeting Details

The Board has scheduled the company's 43rd Annual General Meeting (AGM) for September 30, 2025, at 3:00 PM. In line with modern corporate practices, the AGM will be conducted via video conferencing (VC) or other audio-visual means (OAVM). To facilitate the AGM proceedings, the Register of Members will be closed from September 23 to September 30, 2025. Shareholders should note that the cut-off date for e-voting has been set as September 23, 2025.

Merger Plans Cancelled

In a significant turn of events, Chrome Silicon has decided not to proceed with the previously proposed merger involving Orissa Power Consortium Limited and VBC Renewable Energy Pvt. Ltd. This decision comes after the Bombay Stock Exchange (BSE) returned the draft scheme for the merger. The cancellation of this strategic move may have implications for the company's future growth and consolidation plans.

Corporate Governance Measures

Enhancing its corporate governance framework, the Board has authorized three Key Managerial Personnel (KMPs) to determine the materiality of events for stock exchange disclosures, as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointed KMPs are:

1. Mr. P.V. Rao - Whole-Time Director
2. Mr. R. Dharmender - Chief Financial Officer (CFO)
3. Ms. Shivangi Tibrewala - Company Secretary and Compliance Officer

Additional Board Approvals

The Board meeting, which lasted from 4:30 PM to 6:00 PM, also saw the approval of several other important matters:

• The Notice for the 43rd AGM and the Board's Report along with its annexures were approved.
• The Secretarial Audit Report for the financial year ended March 31, 2025, issued by M/s B S S & Associates, Practicing Company Secretaries, was noted.
• M/s B S S & Associates were appointed as the scrutinizer for both remote e-voting and e-voting during the AGM.

Chrome Silicon, with its registered office in Hyderabad and factory in Sangareddy District, Telangana, continues to adapt to changing business environments and regulatory requirements. Shareholders and investors are advised to take note of these developments, particularly the upcoming AGM and the revised corporate strategy following the cancellation of the proposed merger.