Vipul Ltd

Financial results approved

• Board approved unaudited standalone and consolidated Q1 2026 results for the quarter ended June 30, 2026.

AGM and voting details

• 35th AGM fixed for Nov 12, 2026 via VC/OAVM.
• Cut-off Nov 5; record dates Nov 5–12; e-voting Nov 7–11.

Amalgamation update

• NCLT Delhi approved Scheme of Amalgamation with effect 1 Apr 2022; transferor subsidiaries vested in Vipul Ltd.
• Lavanya Project revenue/costs recognised in FY2025-26; not from appointed date.
• Comparatives not restated for amalgamation impact.

Auditor observations

• Auditors issued qualified conclusion due to amalgamation accounting and revenue recognition issues.
• Note on impairment of loans/advances and unconfirmed trade receivables; interest on advances not provided.
• Emphasis: OSHB bank guarantee encashment and related income recognition.
• MSME dues stated as nil at quarter end.

Strategic and other actions

• Sept 15, 2025 board approved in-principle fast-track merger of six subsidiaries; awaiting approvals; no impact on results.
• Arbitration with Tanamera: Rs 148.70 lakh recovery pending; NCLT petition ongoing; interim status quo.
• Ongoing negotiations on unsecured borrowings; no interest expense recognised until negotiations conclude.
• Results to be hosted on company and stock exchange websites.

Regulatory disclosures and process

• Audit Committee reviewed results; board approved results and attached limited review reports.
• Single operating segment: Real Estate; no geographical segmentation disclosed.

Financial results

• Standalone audited results for quarter and year ended March 31, 2026 approved; audit report with modified opinion.
• Consolidated annual results for year ended March 31, 2026 approved; Audit Committee reviewed; report with modified opinion.

Dividend

• Board did not recommend any dividend on equity shares for FY ended March 31, 2026.

Appointments

• Cost Auditor appointed: Vijender Sharma & Co. for FY2026-27; subject to AGM ratification.
• Internal Auditor appointed: Arora & Bansal for FY2026-27.

Auditor opinions & key notes

• Standalone: qualified opinion due to amalgamation accounting from the appointed date; revenue and costs not restated.
• Consolidated: qualified opinion; emphasis on impairment provisions, confirmations, and going concern uncertainties in five subsidiaries.
• JDA revenue and related costs recognized in current year; not restated.
• Emphasis: deposits from customers; gratuity liability; MSME dues; trade receivables confirmations.

Amalgamation details

• Scheme of Arrangement amalgamates five subsidiaries with Vipul; pooling of interests.

Board decisions & results

• Audited standalone results for quarter and year ended Mar 31, 2026 approved with modified opinion.
• Consolidated audited results approved; report also with modified opinion.
• Dividend on equity shares not recommended for FY2026.
• Cost Auditor appointed for 2026-27: Vijender Sharma & Co.
• Internal Auditor appointed for 2026-27: Arora & Bansal.
• Amalgamation of five subsidiaries; revenue and project costs recognized from Apr 2022.
• Audit notes impairment and other issues in standalone; going concern uncertain.

Standalone financial highlights

• Standalone turnover 8,790.61 Lakhs; total expenditure 10,240.82 Lakhs.
• Standalone net loss 1,450.21 Lakhs; EPS -0.60.
• Standalone assets 111,580.08 Lakhs; net worth 36,632.70; liabilities 74,947.38.

Consolidated financial highlights

• Consolidated turnover 8,788.62 Lakhs; total expenditure 10,202.71 Lakhs.
• Consolidated net loss 1,414.08 Lakhs; EPS -1.00.
• Consolidated assets 113,338.74 Lakhs; liabilities 74,031.09; net worth 39,307.65.

Audit opinions & going concern

• Audit reports on standalone and consolidated are qualified due to amalgamation accounting.
• Going concern uncertainty identified in five subsidiaries.
• Arbitral income Rs 21,070 Lakhs recognized in trade receivables; litigation ongoing.
• Impairment concerns on project advances and loans; potential overstatement.
• Intercompany loans and customer deposits under litigation; interest not booked.
• NCLT-approved amalgamation with appointed date 1 April 2022; restatement not done.

Other notes & emphasis

• Customer deposits for properties under development noted; regulatory issues.
• Gratuity liability Rs 181 Lakhs unpaid.
• MSME dues: none.
• Trade receivables not confirmed; under reconciliation.

Meeting Details

• Date: September 29, 2026; Time: not disclosed; Location: via audio-visual means.

Key Agenda Items

• Audited standalone and consolidated financial results for Q4 and FY2026.
• Recommend dividend for FY ended March 31, 2026, if any.

Other Notes

• Trading window closed from quarter-end till 48 hours after conclusion of meeting.

Vipul Limited: Trading window closed from October 01, 2026 until the expiry of 48 hours after the declaration of Unaudited Financial Results for the 2nd Quarter ending on September 30, 2026 (Standalone and Consolidated)

Key board decisions

• In-principal approval for merger of six wholly owned subsidiaries with Vipul Limited under Section 233.
• Noted exchange non-compliances and penalties; will ensure timely compliance under SEBI LODR 2015.
• Appointment of independent directors: Dipesh Jaswantlal Shah; Sunil Kumar Gupta.
• Re-appointment of Ajay Arjit Singh as Independent Director for five-year term.

AGM extension details

• ROC Delhi granted Vipul Limited a 3-month extension for the FY2026 AGM to Dec 30, 2026.
• AGM for the year ended 31 March 2026 will be convened within the extended period.
• Date of AGM to be intimated; Annual Report to be submitted under Regulation 34 of LODR 2015.
• Reasons cited: pending legal proceedings causing delay in timely AGM compliance.
• Office note: ROC letter dated 27 August 2026 approving the extension.

Change in Registered Office Address

• Previous registered office address: Unit No 201, C-50, Maviya Nagar, New Delhi-110017.
• New registered office address: LGF, B 57, South Extension, Part-II New Delhi 110049.
• Effective date: 10 September 2026.
• Change within the same city; no change in state or ROC.
• Reason: expiry of lease; relocation within city for continuity and efficiency.
• Approvals: Board approved by circulation on 10 September 2026.
• Impact: supports business continuity and improved operational efficiency.

CSR compliance status

• Company states CSR compliance for FY2020-21 and FY2021-22.
• ROC queries examined; clarifications being addressed.
• Updating CSR applicability records with ROC for the two years.
• Committed to high regulatory standards; will provide required documents.