The Board of Directors have approved the un-aufited financial results for the quarter/half yaer ended 30.09.2025
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Awaiting price reaction for this filing.
Chrome Silicon Limited (formerly VBC Ferro Alloys Ltd) reported a loss of Rs 300.08 lacs for Q2 FY26 (quarter ended 30 Sept 2025), taking the half-year loss to Rs 514.58 lacs. Revenue from operations collapsed to just Rs 28.95 lacs in Q2, down from Rs 1,080.58 lacs in the same quarter last year, because the company temporarily suspended its Ferro Alloys manufacturing operations from 30 May 2025 due to adverse market conditions. Total income for the quarter was Rs 451.79 lacs, almost entirely from interest income (Rs 422.84 lacs) rather than business activity. The auditor (Pavuluri & Co.) issued a qualified review report flagging non-compliance with Ind AS 19 on employee benefits, Rs 310.20 crores of interest-free loans with uncertain recoverability, no physical verification of inventory or fixed assets, and missing balance confirmations. The auditor also added an emphasis of matter on the indefinite shutdown of operations.
This is a deeply negative filing for shareholders — the company is not operating, burning cash, and piling up losses, while the auditor has raised serious red flags about the recoverability of loans and asset valuations. The stock carries significant risk; investors should monitor whether operations actually resume and watch for any further erosion of net worth (already down to Rs 348.53 lacs in other equity from Rs 863.12 lacs six months ago).