Results for the quarter ended 31.12.2025

Net loss reportedRevenue declinedGoing-concern doubtResults View source PDF Explain this filing

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-5.9%Reaction day

₹42.51

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Nifty Microcap 250market · in no size index; the smallest one is used-1.5%-4.5% vs market

Civil Construction peers, median of 96sector-1.3%-4.7% vs sector

On the reaction day the stock moved 4.5 pts less than Nifty Microcap 250 and 4.7 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 96Pending

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AI summary

VSF Projects Ltd reported nil revenue from operations for the quarter and nine months ended December 31, 2025, with only other income of ₹11.87 lakh in Q3 FY26 and ₹52.72 lakh for 9M FY26. Total expenses stood at ₹36.39 lakh for the quarter and ₹81.07 lakh for nine months, leading to a loss before tax of ₹24.52 lakh in Q3 and ₹28.35 lakh in 9M FY26, compared to a profit of ₹16.44 lakh in Q3 FY25. Loss per share for the quarter was ₹0.13 and ₹0.28 for nine months. The results were reviewed by the company's predecessor statutory auditors, who issued an unmodified review conclusion, while the new auditors V D P & Co. issued the current limited review report.

Likely market impact

The company continues to generate zero operational revenue and remains loss-making, relying solely on other income to cover expenses — a serious concern for shareholders about the business's viability and future direction. The mention of 'predecessor auditors' signals a recent change in statutory auditors, which investors should monitor closely.