With the captioned subject, please find attached outcome of Board Meeting
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vikas WSP Ltd, under Corporate Insolvency Resolution Process (CIRP) since February 2022, reported audited financial results for FY ended March 31, 2026. The company posted zero revenue from operations with a net loss of Rs. 6,697.57 lakhs, significantly higher than Rs. 2,661.07 lakhs loss in FY 2024-25. Loss per share widened to Rs. 3.25 from Rs. 1.30. The statutory auditor issued a Qualified Opinion citing failure to assess asset impairment, unconfirmed asset/liability balances, missing Fixed Asset Register, and pending creditor claims reconciliation. The auditor also issued an Emphasis of Matter noting material uncertainty about the company's ability to continue as a going concern due to continuous losses, liabilities exceeding assets, and loan defaults. A resolution plan approved by the Committee of Creditors in August 2022 is still pending NCLT approval. Total assets stand at Rs. 1,38,218.62 lakhs with equity of Rs. 72,093.04 lakhs.
The stock faces extreme risk as the company has no operating revenue, is under insolvency proceedings, and auditors have raised significant concerns about asset valuations and going concern. Shareholders should be aware that the resolution plan's pendency and qualified audit opinion create substantial uncertainty about the company's future.