Visa Steel Limited — Board Meeting, 14-11-2024: Outcome of Board Meeting

The Board of Directors has approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2024. Revenue from operations for the quarter is ₹150.62 Cr, with a net loss of ₹41.57 Cr. Notably, the Board decided against proceeding with a proposed issuance related to fundraising. The financial position remains precarious with ongoing concerns about the company's ability to continue as a going concern due to significant debt and operational challenges. The Company reported an exceptional item related to loan settlements amounting to ₹75.04 Cr.