The Board of Director have approved the Audited Financial Results for the Financial year ended 31.03.2026
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Chrome Silicon Limited (formerly VBC Ferro Alloys Ltd) reported a net loss of Rs 984 Lacs for FY2026, significantly improved from the loss of Rs 8,817 Lacs in FY2025. Total income dropped sharply to Rs 1,057 Lacs from Rs 7,649 Lacs in the previous year, largely because the company's ferro alloy manufacturing plant has been suspended since May 30, 2025 due to adverse market conditions. The auditors issued a qualified opinion citing multiple material issues: failure to verify property, plant and equipment; uncertainty over recoverability of Rs 6.65 crore in interest-free loans; incomplete inventory verification; lack of balance confirmations for borrowings, payables and advances totaling over Rs 43 crore; and non-compliance with employee benefit accounting standards. Net worth has turned negative at negative Rs 120.89 Lacs, indicating eroded shareholder equity. Operating cash flow was negative at Rs 1,910 Lacs.
The company is in severe financial distress with operations shut down, negative equity, qualified audit opinion and negative operating cash flows. The stock faces high risk due to going concern uncertainty, though the reduced loss compared to prior year is a marginal positive. Shareholders should be cautious as the path to resumption of operations remains unclear.