Virgo global has announced the resignation of Umasankar Mylapur Prakash Rao from his dual roles as Wholetime Director and Chief Financial Officer, effective January 29, 2026. The resignation was communicated through formal letters submitted to the Board of Directors, citing pre-occupation as the primary reason for departure.

Resignation Details

Rao submitted separate resignation letters for both positions on January 29, 2026. The key details of his departure are outlined below:

Formal Communication to Board

In his resignation letter as Wholetime Director, Rao expressed regret about his inability to continue in the role due to pre-occupation. He conveyed his felicitations to all Board members for the faith and cooperation he received during his tenure. The letter was addressed to the Board of Directors at the company's Hyderabad office located at 3-45-117, Plot No: A-23, Vikrampuri colony, Kakaguda.

CFO Role Transition

Regarding his Chief Financial Officer position, Rao formally requested the Board of Directors to relieve him from his duties effective January 29, 2026. He specifically requested that the company arrange to submit necessary forms with the office of the Registrar of Companies, Hyderabad, regarding his departure. The resignation letter emphasized his gratitude for the Board's support and guidance throughout his tenure.

Company Information

Virgo Global Limited is headquartered in Hyderabad, Telangana, with its registered office at 3-45-117, Plot No: A-23, Vikrampuri colony, Kakaguda, Hyderabad, Telangana-500009. The company will need to initiate the process of finding suitable replacements for both the Wholetime Director and Chief Financial Officer positions following Rao's departure.

The resignation represents a significant leadership change for Virgo Global Limited, as the company loses both its CFO and a key director simultaneously. Both resignation letters were formally signed and submitted to ensure proper documentation of the transition.

Virgo Global Limited has reported its unaudited financial results for the first quarter. The company, which operates in the IT sector, has shown a slight improvement in its financial performance compared to the same period last year.

Financial Highlights

• Net Loss: Rs 18.64 lakh, compared to Rs 23.15 lakh in the same quarter of the previous year
• Revenue from Operations: Nil for the current quarter
• Total Expenses: Rs 18.64 lakh
• Earnings Per Share (EPS): -Rs 0.18, improved from -Rs 0.22 in the previous year's quarter

Expense Breakdown

The company's expenses for the quarter were primarily driven by:

• Cost of Materials Consumed: Rs 458.50 lakh
• Employee Benefits Expense: Rs 14.49 lakh

Balance Sheet Overview

• Paid-up Equity Share Capital: Rs 420.17 lakh
• Reserves: Deficit of Rs 363.31 lakh

Management Commentary

The board meeting to approve these results was held on August 14, as stated in the Limited Review Report. Umasankar Mylapur Prakash Rao, Whole Time Director & CFO of Virgo Global Limited, signed off on the financial statements.

Auditor's Review

Sharad Chandra Toshniwal & Co, Chartered Accountants, conducted an independent review of the financial results. They stated that nothing has come to their attention that causes them to believe that the financial statements are not prepared in accordance with applicable accounting standards and regulations.

Conclusion

While Virgo Global Limited continues to face challenges with nil revenue from operations, the company has managed to narrow its losses compared to the same quarter last year. The significant cost of materials consumed suggests ongoing operational activities, despite the lack of reported revenue.

Note: All financial figures are in Indian Rupees (Rs) and lakh, unless otherwise stated.