Submission of outcome of Board Meeting
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VSF Projects' Board, at its meeting on 30 May 2025, approved the audited standalone financial results for the quarter and full year ended 31 March 2025. Revenue from operations remained flat at Rs 22 lakhs, while total income rose to Rs 42.88 lakhs from Rs 25.56 lakhs. However, the company slipped into a loss of Rs 29.41 lakhs in FY25, compared to a profit of Rs 3,534.52 lakhs in FY24 (which was boosted by exceptional items of Rs 3,550 lakhs). Auditor NSVR & Associates LLP issued an unmodified opinion. The Board also accepted the resignation of Company Secretary Ms. Himabindu Nandigam, effective 31 May 2025, citing better opportunities outside the organization.
The FY25 results, stripped of last year's one-time exceptional gain, reveal weak core operations with revenue stagnant at just Rs 22 lakhs and a return to losses, which is negative for shareholders. Capital work-in-progress nearly quadrupled to Rs 8,854 lakhs and borrowings doubled to Rs 6,044 lakhs, suggesting heavy capex funded by debt — investors should watch for execution and repayment risks.