Results for the quarter ended 31.12.2025
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Vista Pharmaceuticals reported a revenue of Rs 241.62 lakhs for Q3 FY26, slightly down from Rs 255.50 lakhs in the same quarter last year. For the nine months ended December 2025, revenue fell about 21% to Rs 539.95 lakhs from Rs 684.45 lakhs a year ago. The company posted a net loss of Rs 231.94 lakhs in Q3 and Rs 619.83 lakhs for the nine-month period, nearly double the loss of Rs 315.31 lakhs in the prior year period. The larger loss was driven by a one-time Expected Credit Loss (ECL) provision of Rs 205.43 lakhs booked in Q3 against long-pending trade receivables. The company also has Rs 395.48 lakhs in unpaid statutory dues (TDS, PF, ESI, Professional Tax, Income Tax) and issued 1.02 crore convertible warrants, receiving Rs 307.50 lakhs as 25% upfront subscription. The auditor issued a clean review report but included an Emphasis of Matter paragraph flagging the ECL provision and the outstanding statutory dues.
Sharply widening losses, shrinking revenue and the large ECL provision signal continued financial stress for shareholders. The pending statutory dues and ongoing losses raise concerns about working capital and turnaround prospects, though the warrant subscription brings in some fresh funds.