VSF Projects Limited has secured operational consent from the Andhra Pradesh Pollution Control Board for its Multi-Product Free Trade Warehousing Zone (FTWZ) facility, marking a significant milestone in the company's infrastructure development plans. The regulatory approval was granted for the facility located at Ankulapaturu Village, valid until October 2030.

Regulatory Approvals and Compliance

The company has obtained comprehensive environmental clearances covering multiple regulatory frameworks. The consent encompasses operations under Section 25/26 of the Water (Prevention and Control of Pollution) Act 1974, Section 21 of the Air (Prevention and Control of Pollution) Act 1981, and authorization under Rule 6 of the Hazardous and Other Wastes (Management and Transboundary Movement) Rules 2016.

Facility Location and Specifications

The FTWZ facility is strategically positioned at Ankulapaturu Village in Chillakur Mandal, Tirupati District, Andhra Pradesh. The substantial land area of 53.81 hectares provides significant operational capacity for the company's multi-product warehousing operations. This location offers strategic advantages for trade and logistics operations in the southern region.

Business Impact and Operations

The operational consent enables VSF Projects Limited to commence business activities at the Multi-Product FTWZ facility. This approval represents the culmination of regulatory processes that began with the company's earlier communication regarding receipt of final approval for setting up the facility. The FTWZ designation allows for enhanced trade facilitation and warehousing services.

Regulatory Compliance Framework

The approval demonstrates VSF Projects Limited's commitment to environmental compliance across multiple regulatory domains. The comprehensive nature of the clearances covers water pollution control, air quality management, and hazardous waste handling protocols. The validity period until October 2030 provides operational certainty for the company's business planning.

Corporate Communication

The regulatory intimation was submitted to BSE Limited under scrip code 519331. The company has fulfilled disclosure requirements, ensuring transparent communication with stakeholders regarding this significant operational milestone.

VSF Projects Limited, a company listed on the Bombay Stock Exchange (BSE: 519331), has reported a net loss for the quarter ended June 30, along with several significant changes in its leadership and auditing structure.

Financial Performance

The company's unaudited financial results for Q1 reveal a challenging quarter:

VSF Projects Limited reported a net loss of Rs. 3.83 lakhs for the quarter, compared to a profit of Rs. 2.58 lakhs in the previous quarter. The company's total income decreased by 55.53% year-over-year to Rs. 19.07 lakhs, consisting entirely of other income with no revenue from operations.

Leadership and Auditor Changes

The company's Board of Directors has approved several significant changes:

1. Statutory Auditor Resignation: NSVR & Associates LLP, Chartered Accountants, have resigned as statutory auditors, citing time, effort, and cost considerations.

2. New Statutory Auditor Appointment: V D P & Co. Chartered Accountants (Firm Regn No: 0246075) have been appointed as the new statutory auditors, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

3. Secretarial Auditor Recommendation: The Board has recommended the appointment of P S Rao & Associates as the company's secretarial auditor for a five-year term, pending shareholder approval at the AGM.

4. New Company Secretary: P. Lenin Babu has been appointed as the Company Secretary and Compliance Officer, effective August 14.

Annual General Meeting

The Board has approved the notice for convening the 33rd Annual General Meeting of the company. The date and other details of the AGM are yet to be announced.

Outlook

The company's financial performance in Q1 indicates ongoing challenges, with no revenue from operations and a significant decrease in other income. The leadership changes, particularly in the auditing structure, may signal a strategic shift in the company's approach to financial management and compliance.

Investors and stakeholders will likely be watching closely to see how these changes impact VSF Projects Limited's performance and governance in the coming quarters.