Vikas WSP Ltd — Updates, 29-05-2025: Company Update

Vikas WSP Limited has announced a board meeting to approve the financial results for the quarter and financial year ended March 31, 2025. The audited results carry a modified auditor’s opinion due to incomplete records following a ransomware attack and ongoing corporate insolvency resolution process (CIRP) management. Key issues include lack of impairment assessment on tangible assets, unconfirmed reconciliations of receivables and payables, outstanding share application money of Rs. 850 lakh, and unresolved shareholder transmission due to a deceased shareholder. Continuous losses, defaults in borrowing and statutory dues raise material uncertainty on the company’s ability to continue as a going concern. Internal and secretarial auditors have been re-appointed for FY 2025-26.