Virya Resources Limited has announced the resignation of two Independent Directors from its Board of Directors, effective March 26, 2025. The resignations were communicated to BSE Ltd on March 27, 2025, in compliance with regulatory requirements.

Director Resignations

The company received resignation letters from both Independent Directors on March 26, 2025:

Regulatory Compliance

The resignations were reported under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Virya Resources provided all required details as per Schedule III-Para A(7B) of Part A of the Listing Regulations.

Key compliance aspects:

• Both directors confirmed no other material reasons beyond those stated
• Neither director holds directorships in other listed entities
• Resignation letters with detailed reasons were enclosed with the regulatory filing
• The resignations took effect immediately upon submission

Board Acknowledgment

The Board of Directors has formally acknowledged the resignations and placed on record its appreciation for the valuable contribution and guidance provided by both Mr. Sunil Kumar Kacham and Ms. Shilpa Bung during their tenure as Independent Directors.

Virya Resources, which operates under CIN L45100MH1987PLC042141, maintains its registered office in Mumbai and corporate office in Hyderabad. The resignations represent a change in the company's board composition.

Virya Resources Limited (formerly Gayatri Tissue and Papers Ltd) has released corrected unaudited financial results for the quarter and half-year ended September 30, 2025, addressing typographical errors in the original filing. The Board of Directors approved these results in their meeting held on November 11, 2025, with the corrected version submitted to the stock exchange on November 13, 2025.

Financial Performance Overview

The company continues to face operational challenges with zero revenue from operations for both the quarter and half-year periods. The consolidated financial results show a deteriorating performance compared to the previous year.

Expense Analysis

The company's expense structure for Q2 FY26 reveals specific cost components that contributed to the overall loss:

Employee benefits expense decreased from ₹3.20 lakhs in Q1 FY26 to ₹1.20 lakhs in Q2 FY26, while other expenditure reduced from ₹7.39 lakhs to ₹3.15 lakhs.

Balance Sheet Position

As of September 30, 2025, the consolidated balance sheet shows:

The company's reserves and surplus decreased to ₹378.31 lakhs from ₹410.39 lakhs in the previous year, reflecting the accumulated losses. Notably, long-term borrowings of ₹58.29 lakhs appeared on the balance sheet, which were absent in the previous year.

Cash Flow Analysis

The consolidated cash flow statement for the half-year reveals:

Subsidiary Operations

The company's subsidiary, PT Virya Resources Indonesia, is included in these consolidated results. The presence of foreign currency translation adjustments of ₹7.95 lakhs indicates active international operations, though the specific contribution of the subsidiary to overall performance remains unclear from the disclosed information.

Regulatory Compliance

The financial results were reviewed by N G Rao & Associates, Chartered Accountants, who provided a clean limited review report. The company maintains that no investor complaints were pending at the beginning or end of the quarter, and no new complaints were received during the period.