VIP Industries Limited has informed stock exchanges about inspection and search proceedings initiated by Maharashtra tax authorities at its facilities on February 24, 2026. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Inspection Details

The Assistant Commissioner of State Tax, Maharashtra initiated the inspection and search proceedings at VIP Industries' registered office and manufacturing unit located in Nashik, Maharashtra. The proceedings are being conducted under Section 67 of the Maharashtra Goods & Service Tax Act, 2017.

Company Response and Cooperation

VIP Industries confirmed that the inspection proceedings are currently ongoing and the company is extending full cooperation and assistance to the authorities. The company has not received any communication regarding specific violations or contraventions at this stage.

Impact Assessment

According to the company's disclosure, there is no material impact on the financial operations, business activities, or other operations of VIP Industries due to the inspection proceedings. The company has committed to making necessary disclosures in accordance with regulatory provisions if any material updates emerge that require intimation under the SEBI Listing Regulations.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing Regulations. VIP Industries provided detailed information as required under the SEBI Master circular dated January 30, 2026, ensuring full transparency with stakeholders regarding the ongoing tax inspection proceedings.

VIP Industries Limited has successfully concluded its board meeting and announced the Q3FY26 financial results, marking a significant improvement in the company's balance sheet position. The Board of Directors approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, following their meeting held on February 14, 2026.

Board Meeting Outcome

The board meeting, which was originally scheduled for February 12, 2026, was conducted on February 14, 2026, commencing at 11:30 AM and concluding at 13:55 PM. The directors considered and approved the unaudited financial results as reviewed and recommended by the Audit Committee.

Financial Performance Highlights

The company demonstrated strong focus on strengthening its balance sheet during Q3FY26, achieving substantial reductions in both net debt and inventory levels. The financial results show marked improvement in key balance sheet metrics compared to previous quarters.

Regulatory Compliance and Documentation

VIP Industries has fulfilled all regulatory requirements under Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has submitted the unaudited financial results along with the Limited Review Report issued by Price Waterhouse Chartered Accountants LLP, the statutory auditors.

Subsidiary Operations

The consolidated results include performance from VIP Industries' wholly-owned subsidiaries across India and Bangladesh, demonstrating the company's diversified operational presence.

The successful completion of the board meeting and announcement of improved financial metrics reflects VIP Industries' commitment to operational efficiency and balance sheet optimization during the quarter ended December 31, 2025.