Virya Resources Limited has announced the execution of a Management and Strategic Partnership Agreement with Magma Capital Resources Pte Ltd., Singapore on February 27, 2026. The agreement represents a strategic move to expand the company's operational management capabilities in international markets through a structured partnership with its ultimate holding company.

Agreement Structure and Terms

The partnership agreement grants Virya Resources management and operational rights over specified MCR Group businesses for an initial period of three years, with provisions for extension by mutual consent. Under the arrangement, Virya will function as the Lead Manager for the identified businesses within the MCR Group portfolio.

Financial and Operational Framework

The commercial terms of the agreement establish Virya's entitlement to 51% of the Net Operating Margin from the managed businesses. Importantly, the agreement does not involve any transfer of shareholding, ownership, or voting rights, maintaining the existing corporate structure while enabling operational collaboration.

The partnership structure preserves the current ownership hierarchy where VR Integrated Project Management Pvt Ltd serves as the major shareholder and immediate holding company of Virya Resources Limited, while Magma Capital Resources Pte Ltd functions as the holding company of VRIPM.

Regulatory Compliance and Approvals

Given that Magma Capital Resources is the ultimate holding company of Virya Resources, the agreement qualifies as a Related Party Transaction under Regulation 23 of SEBI LODR. The company has ensured full regulatory compliance through proper governance channels as disclosed in its official communication to BSE Limited.

Strategic Business Impact

The Management and Strategic Partnership Agreement is positioned to support Virya Resources' strategic expansion objectives and enhance its operational management capabilities in international markets. The arrangement provides the company with direct involvement in MCR Group's business operations while maintaining a revenue-sharing model that aligns interests between the parties.

This partnership represents a structured approach to leveraging synergies within the corporate group while establishing clear operational responsibilities and financial arrangements for the managed businesses.

Virya Resources Limited (formerly Gayatri Tissue and Papers Ltd) has announced its unaudited financial results for the third quarter ended December 31, 2025. The company reported a standalone net loss of ₹4.94 lakhs and consolidated net loss of ₹4.96 lakhs, with zero revenue from operations during the quarter. The results were approved by the Board of Directors at their meeting held on February 14, 2026, in compliance with Regulation 33 of SEBI (LODR) Regulations, 2015.

Financial Performance Overview

The company's financial performance for Q3 FY26 reflects operational challenges with no revenue generation across both standalone and consolidated operations. The results demonstrate the company's current non-operational status in its core business activities.

Expense Analysis

Despite zero revenue, the company incurred operational expenses totaling ₹4.94 lakhs on standalone basis and ₹4.96 lakhs on consolidated basis. The primary expense components included employee benefits expense of ₹1.60 lakhs and other expenditure of ₹3.34 lakhs for standalone operations.

Earnings Per Share Impact

The company's earnings per share (EPS) for continuing operations stood at ₹-0.33 for both basic and diluted calculations on both standalone and consolidated basis. This represents a deterioration compared to the previous quarter's EPS of ₹-0.99 and ₹-1.00 respectively.

Board Meeting Outcome

The Board of Directors, led by Directors Candra Winoto Salim (DIN 09737531) and V V Subrahmanyam (DIN 01029479), approved the unaudited financial results along with the limited review report from statutory auditors. The meeting commenced at 2:00 PM and concluded at 4:35 PM IST at the company's corporate office.

Corporate Structure and Compliance

Virya Resources Limited operates under CIN L45100MH1987PLC042141 and trades on BSE with scrip code 512479. The company maintains subsidiaries including PT Virya Resources Indonesia, necessitating the publication of consolidated results. The company reported no investor complaints during the quarter and maintained compliance with all regulatory disclosure requirements under SEBI regulations.