Board meeting outcome
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vista Pharmaceuticals reported a massive loss of Rs. 1,206.12 lakhs for FY26, nearly tripling from Rs. 464.81 lakhs loss in FY25. Revenue more than halved to Rs. 539.95 lakhs from Rs. 1,007.46 lakhs. The company has now posted losses for 5 consecutive years. The auditors gave an unmodified (clean) opinion despite significant concerns. The company wrote off INR 821.74 lakhs in bad trade receivables and appointed new internal auditors (LMN & Co). Key red flags include: negative working capital of Rs. 131.86 lakhs, cash balance of only Rs. 10.70 lakhs, defaults in loan repayments to Bank of Baroda, unpaid statutory dues since FY20-21, and defaults in PF and ESI contributions. The company issued 1.02 crore convertible warrants to raise funds with only 25% received upfront.
This is a highly distressed result. Despite the clean audit opinion, the company's financial statements disclose material uncertainty about its ability to continue as a going concern. Shareholders face extreme risk as the company battles a fifth consecutive loss year, severe cash crunch, and multiple default situations. The stock is likely to face significant selling pressure.