Financials Result for the quarter and half year ended on 30th September, 2025
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Vikas WSP, under Corporate Insolvency Resolution Process (CIRP) since February 2022, reported zero revenue from operations for Q2 FY26, with only Rs 4.80 lakhs of other income versus Rs 6.53 lakhs in Q2 FY25. The company posted a net loss of Rs 875.69 lakhs for the quarter and Rs 1,753.44 lakhs for the half-year, largely driven by Rs 854 lakhs of quarterly depreciation. The auditor issued a qualified conclusion citing non-assessment of asset impairment, unconfirmed balances, and the absence of a Fixed Asset Register. An emphasis of matter was raised regarding going concern doubts due to continuous losses, current liabilities exceeding current assets, and defaults on borrowings. A resolution plan from Arcbolt Space and Foods Pvt Ltd is pending NCLT approval, with the next hearing on November 12, 2025.
Shareholders face continued uncertainty — the stock remains under CIRP with no operational revenue, persistent losses, and the company's survival hinges on NCLT approval of the pending resolution plan. Near-term recovery prospects remain weak.