1-Standalone Results re-submitted for Q2 FY 2025-26 with required comparative columns as per SEBI Regulations 2-Revised outcome Submission of Un-Audited Financial Result for the Quarter ....
Awaiting price reaction for this filing.
Victoria Enterprises Limited, a Mumbai-based real estate development and consultancy company, resubmitted its Q2 FY2025-26 standalone results with the comparative columns required under SEBI LODR rules. Revenue from operations for the quarter stood at Rs 5,364.70 lacs, up about 32% from Rs 4,060.91 lacs in Q2 FY25, driven by construction and real estate activity. However, Profit After Tax fell to Rs 2,002.66 lacs from Rs 2,536.86 lacs in the year-ago quarter, a decline of roughly 21%, mainly due to high finance costs of Rs 1,542.53 lacs. The statutory auditor (Mahesh Chandra & Associates) issued a Qualified Conclusion on the results, flagging that 5% Non-Cumulative Redeemable Preference Shares have been overdue for refund since March 2020 and are still being negotiated for restructuring. The auditor also noted that balances of receivables, payables, loans, advances and statutory submissions (including GST) remain subject to confirmation and reconciliation, with effects on profit/loss unascertainable.
Shareholders should note the qualified auditor opinion and the long-pending overdue preference share liability as risk flags, even though topline growth was strong. The sharp drop in PAT despite revenue growth, coupled with borrowings of Rs 6,950.49 lacs against equity of only Rs 2,762.67 lacs, points to a stretched balance sheet that may weigh on the stock's near-term sentiment.