1. Audited Financial Results for the Quarter and Year ended March 31, 2026, prepared in accordance with Ind AS as approved by the Audit Committee of the Company. 2. Approved the Scheme ....
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The board of Virgo Global Limited approved the audited financial results for Q4 and FY ended March 31, 2026, with the auditors issuing an unmodified opinion. The company reported a loss of Rs. 38.02 lakhs for FY26 and a Q4 loss of Rs. 23.34 lakhs on revenue of Rs. 91.84 lakhs, with negative reserves of Rs. 362.51 lakhs eroding the balance sheet. To address this, the board approved a Scheme of Reduction of Capital under Section 66 of the Companies Act, proposing to reduce paid-up equity capital from Rs. 4.20 crore (1.05 crore shares) to Rs. 58.82 lakhs (14.70 lakh shares) by cancelling 90.33 lakh shares, with the reduction being used to write off accumulated losses. An EGM has been scheduled for May 15, 2026 to seek shareholder approval, and the scheme will subsequently be filed with the NCLT Hyderabad Bench. The reduction will be applied pro-rata to all shareholders with no cash consideration and no change in shareholding pattern or promoter/public rights.
For shareholders, this is essentially a balance sheet cleanup exercise — their share count will reduce by roughly 86% on a pro-rata basis with no cash payout, but it could help the company present cleaner financials and raise fresh capital in the future. The stock may react negatively in the short term given the share count reduction, though the move is intended to remove the structural overhang of accumulated losses that has been blocking fundraising.