Visa Steel Limited — Board Meeting, 29-05-2025: Outcome of Board Meeting

VISA Steel has announced a board meeting that approved the audited consolidated financial results for FY25, reporting a steep loss of Rs. 516.65 Cr, sharply up from Rs. 71.89 Cr last year. This was driven by a Rs. 438.08 Cr impairment of fixed assets and Rs. 38.75 Cr write-off on abandoned projects. Interest expenses remain a heavy burden with estimated accumulated costs of Rs. 1324.62 Cr. Total liabilities have surged to Rs. 3218.85 Cr, pushing net worth deep into negative at Rs. -2685.45 Cr. The company is actively pursuing debt restructuring with ARC. New auditors have been appointed for FY26, while operations continue on a going concern basis.