VAS INFRASTRUCTURE Q2 FY27 results: net loss of ₹0.19 crore vs ₹0.09 crore profit

How did VAS INFRASTRUCTURE perform in Q2 FY27?

VAS INFRASTRUCTURE reported standalone revenue of ₹0 crore for Q2 FY27, unchanged from Q2 FY26 and Q1 FY27. EBITDA was a loss of ₹0.33 crore, compared with a loss of ₹0.12 crore in Q2 FY26 and ₹0.16 crore in Q1 FY27; no EBITDA margin was reported. The result was a net loss of ₹0.19 crore, against a net profit of ₹0.09 crore in Q2 FY26 and a net loss of ₹0.13 crore in Q1 FY27.

Basic EPS was -₹0.13 in Q2 FY27, compared with ₹0.06 in Q2 FY26. The company submitted unaudited standalone financial results for the quarter and half year ended 30 September 2026, which were approved by the RP Committee along with the limited review report.

What changed in VAS INFRASTRUCTURE's costs and profit?

Total expenses increased by ₹0.21 crore, or 175.0%, to ₹0.33 crore in Q2 FY27 from ₹0.12 crore in Q2 FY26. Other expenses accounted for the increase, rising by ₹0.21 crore, or 190.9%, to ₹0.32 crore from ₹0.11 crore; employee cost rose by ₹0.01 crore, or 100.0%, to ₹0.02 crore from ₹0.01 crore. Cost of materials, finance costs and depreciation were unchanged at ₹0 crore.

Other income fell by ₹0.07 crore, or 33.3%, to ₹0.14 crore from ₹0.21 crore in Q2 FY26. Tax was unchanged at ₹0 crore and there was no exceptional item. The filing did not state why other expenses rose or other income declined; it stated that certain books of account, supporting documents, confirmations and reconciliations were under reconciliation and verification as part of the CIRP process.

What do the balance sheet and cash flow show?

Total assets were ₹138.44 crore as on 30 September 2026, compared with ₹155.92 crore as on 31 March 2026. Total equity was negative ₹259.41 crore against negative ₹259.22 crore, borrowings were ₹119.89 crore at both dates, and cash was ₹0.24 crore against ₹0.13 crore. Inventories were ₹53.14 crore at both dates.

H1 FY27 operating cash flow was negative ₹17.05 crore, compared with positive ₹14.78 crore in H1 FY26. Investing cash flow was ₹0.14 crore against ₹0.21 crore, while financing cash flow was ₹0 crore in both periods and capex was ₹0 crore.

How has VAS INFRASTRUCTURE done over the last 8 quarters?

Revenue was ₹0 crore in each of the last eight quarters shown. Profit after tax reached its highest point at ₹0.39 crore in Q4 FY26 and its lowest point at negative ₹0.18 crore in Q1 FY26; in the latest quarter, it was negative ₹0.19 crore. The direction of profit therefore reversed from the Q4 FY26 peak to a loss in the two quarters reported through Q2 FY27. No EBITDA margin figures were provided for the quarterly trend.

What did the auditors point out?

The limited review report included a qualified conclusion and a material uncertainty related to going concern. The auditors drew attention to the company engaging with all lenders to arrive at a debt resolution plan, said the accounts were prepared by management on a going-concern basis, and stated that material uncertainty exists that casts significant doubt on the company’s ability to continue as a going concern.

The auditors also stated that work-in-progress inventories were recorded at historical cost because net realisable value was unavailable, and that, in the absence of adequate and appropriate review or audit evidence, they could not comment on the consequential impact on the financial results, including possible adjustments for expected credit loss or impairment, liabilities and contingent liabilities, and claims submitted. The report stated that no audit had been performed and no audit opinion expressed.

How did VAS INFRASTRUCTURE shares react?

Earlier reaction-day moves were down 2.1% on 11 August 2026 and unchanged on 13 August 2024. The latest five-day and one-month figures, and the industry median moves, were not provided.