Outcome of the Board Meeting
VISACHROME · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
VISA Chrome Limited (formerly VISA Steel Limited) reported FY2026 results with revenue of Rs. 561.62 crore, marginally lower than Rs. 566.21 crore in the previous year. The company turned profitable with PAT of Rs. 1,050.15 crore compared to a loss of Rs. 516.55 crore in FY2025, largely due to exceptional gains of Rs. 1,089.11 crore from loan settlement with ACRE. However, operating performance remains weak with loss before exceptional items of Rs. 38.96 crore. The statutory auditors issued an unmodified opinion but explicitly highlighted material uncertainty regarding going concern due to accumulated losses, current liabilities exceeding current assets, and fully eroded net worth. The company has entered a restructuring agreement with Assets Care and Reconstruction Enterprise (ACRE) covering 100% of lenders and received a sanction letter. Share capital increased to Rs. 129.29 crore due to warrant conversions. The company name changed from VISA Steel Limited to VISA Chrome Limited effective April 28, 2026.
The company shows positive PAT due to one-time exceptional gains from debt restructuring, but underlying operations remain unprofitable with significant going concern risks. The restructuring with ACRE provides some relief, though the negative equity position of Rs. 219.86 crore remains a serious concern for shareholders.