VIP Industries Limited has submitted to the Exchange, the Audited financial results (Standalone & Consolidated) for the quarter and year ended March 31, 2026 and recommended the appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP, as the statutory auditors of the Company for a term of 5 years i.e. from the conclusion of 59th Annual General Meeting to be held in current year i.e 2026 till the conclusion of the 64th Annual General Meeting to be held in the year 2031, subject to approval of Shareholder and completion of all regulatory compliances in accordance with the applicable laws and regulations.
VIPIND · price
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VIP Industries reported a significant deterioration in financial performance for FY 2026 ended March 31. Standalone revenue declined to Rs. 1,849 Crores from Rs. 2,170 Crores in FY 2025, a drop of about 15%. The company posted a standalone net loss of Rs. 342.88 Crores compared to a loss of Rs. 81.40 Crores in the previous year. The auditors, Price Waterhouse Chartered Accountants LLP, issued an unmodified (clean) opinion on both standalone and consolidated results. The board has recommended appointing Deloitte Haskins & Sells as the new statutory auditors for 5 years from the 59th AGM in 2026, as Price Waterhouse has completed two consecutive terms and cannot continue. Notable items include a large inventory provision of Rs. 122.66 Crores (consolidated) and a GST investigation resulting in Rs. 14.11 Crores payment. Additionally, promoters sold a 32% stake to Multiples Private Equity Fund, which now has 'Control' and is classified as a new promoter.
The stock is likely to face negative sentiment due to the substantial revenue decline and widening losses. However, the clean audit opinion and planned auditor transition to a Big Four firm may provide some comfort. The significant inventory provisions and GST issues add to near-term concerns.