VISA Chrome LimitedQuarter Ended 30 June 2026 Results & Financial Update
VISA Chrome Limited: Quarter Ended 30 June 2026 consolidated results and company financials – revenue ₹120.44 Cr, PAT ₹-9.56 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore VISA Chrome Quarter Ended 30 June 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the quarter ended 30 June 2026, VISA Chrome Limited registered a revenue from operations of INR 120.44 crore, marking a contraction compared to INR 170.98 crore recorded in both the preceding quarter ended 31 March 2026 and the corresponding quarter of the previous year.
Total income for the period stood at INR 120.50 crore, encompassing minor other income of INR 0.06 crore alongside operational revenue.
The company posted a net loss (PAT) of INR 9.56 crore for the first quarter of fiscal year 2027, swinging from a net profit of INR 1,082.58 crore in the preceding quarter—which had benefited from substantial exceptional write-backs—and a net profit of INR 4.33 crore in the corresponding period of the previous year.
Total expenses for the quarter were contained at INR 130.06 crore, which included raw material consumption of INR 71.29 crore, inventory changes of negative INR 16.12 crore, employee benefit expenses of INR 7.60 crore, finance costs of INR 7.93 crore, depreciation of INR 6.76 crore, and other expenses of INR 52.60 crore.
Statutory auditors drew attention to a material uncertainty relating to going concern, noting that accumulated losses, a negative net worth, and current liabilities substantially exceeding current assets pose significant doubts regarding the company's ability to continue normal business operations without improved working capital availability.
Management maintains that operations will continue under conversion arrangements while pursuing financing alternatives to improve overall financial health and meet long-term obligations.
During the quarter ended 30 June 2026, VISA Chrome Limited generated revenue from operations of INR 120.44 crore, with total income standing at INR 120.50 crore.
The company reported a net loss after tax of INR 9.56 crore for the quarter, reflecting lower profitability compared to the preceding quarter ended 31 March 2026 and the corresponding quarter of the previous year.
01 · Business model
What does VISA Chrome do?
VISA Chrome Limited is primarily engaged in the manufacturing and business of ferro alloys, operating out of its plant facilities situated in the Kalinganagar Industrial Complex in Jajpur district, Odisha.
The company operates within a single reportable operating segment in accordance with Ind AS 108, focusing on metallurgical production and related industrial operations.
The corporate structure includes a wholly owned subsidiary, Kalinganagar Chrome Private Limited, and a joint venture, VISA Urban Infra Limited, both of which currently have no commercial operations and negligible financial impact on consolidated results.
Due to historical financial restructuring and working capital constraints, manufacturing activities are operated under conversion arrangements while the company seeks to stabilize its financial position.
02 · Historical context
What shaped the business before this quarter
On 26 November 2025, the Preferential Issue Committee approved the allotment of 5,00,00,000 warrants at INR 40 each, with subsequent conversions and receipt of funds utilized to repay debt to ACRE.
A Scheme of Arrangement between VISA Infra Limited and VISA Industries Limited was sanctioned by the NCLT Kolkata bench on 21 April 2026, vesting VISA Infra Limited's shareholding in the company to VISA Industries Limited effective 1 April 2025.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended 30 June 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹120.44 Cr | ₹170.98 Cr | ₹170.98 Cr |
| Total income | ₹120.50 Cr | ₹171.86 Cr | ₹171.96 Cr |
| Profit before tax | ₹-9.56 Cr | ₹4.33 Cr | ₹1,082.58 Cr |
| Profit after tax | ₹-9.56 Cr | ₹4.33 Cr | ₹1,082.58 Cr |
| EPS | ₹-0.66 | ₹0.37 | ₹90.60 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -7.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -7.9% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹0.06 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations stood at INR 120.44 crore for the quarter ended 30 June 2026, compared to INR 170.98 crore in the corresponding quarter of the previous year.
Changes in inventories of finished goods, stock-in-trade, and work-in-progress contributed a positive adjustment of INR 16.12 crore during the quarter.
Revenue from operations for the quarter was recorded at INR 120.44 crore as operations continued under conversion arrangements.
What drove margins
Cost of materials consumed was reported at INR 71.29 crore, while other expenses stood at INR 52.60 crore, exerting cost pressures that resulted in a pre-tax loss of INR 9.56 crore.
Finance costs remained steady at INR 7.93 crore compared to INR 7.91 crore a year ago, and depreciation and amortization expenses were recorded at INR 6.76 crore for the quarter.
Cost of materials consumed was INR 71.29 crore alongside changes in inventories of finished goods, stock-in-trade, and work-in-progress of negative INR 16.12 crore, while finance costs stood at INR 7.93 crore and depreciation and amortization expenses at INR 6.76 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates entirely within the ferro alloys business, constituting a single reportable operating segment under Ind AS 108.
06 · Reported developments
What changed operationally
Realization of INR 49.50 crore from the conversion of 1,65,00,000 warrants during the quarter allowed the company to reduce debt obligations.
Successful conversion of warrants into equity shares provided funds that were fully applied toward debt repayment.
07 · Pressure points & risks
What is not going smoothly
The company incurred a net loss of INR 9.56 crore during the first quarter of fiscal year 2027.
08 · Items worth noticing
The line items that can distort a quick read
Unlike the previous quarter (Q4 FY26), which recorded exceptional gains of INR 1,089.11 crore from loan settlement write-backs and interest waivers, no exceptional items were reported in Q1 FY27.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Financial performance continues to be impacted by the non-availability of adequate working capital for operations, creating liquidity pressures noted by statutory auditors.
Capital allocation & funding
Total consideration of INR 140 crore received from preferential warrant conversions was fully utilized toward the repayment of debt owed to Asset Care Reconstruction Enterprise (ACRE).
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Board and Management Changes
The Board approved the re-designation of Mr. Vishambhar Saran as Non-Executive Chairman effective 15 December 2026, re-appointment of Mr. Vishal Agarwal as Vice Chairman & Managing Director, and re-appointment of Mr. Manoj Kumar as Joint Managing Director.
11 · Previous-quarter changes
What changed since the previous quarter
Net profit transitioned from a large gain of INR 1,082.58 crore in Q4 FY26—driven by exceptional loan settlement write-backs—to a net loss of INR 9.56 crore in Q1 FY27.
12 · Key Q&A
The quarter, answered directly
What does VISA Chrome do?
VISA Chrome Limited is primarily engaged in the manufacturing and business of ferro alloys, operating out of its plant facilities situated in the Kalinganagar Industrial Complex in Jajpur district, Odisha.
What is the clearest takeaway from Quarter Ended 30 June 2026?
During the quarter ended 30 June 2026, VISA Chrome Limited registered a revenue from operations of INR 120.44 crore, marking a contraction compared to INR 170.98 crore recorded in both the preceding quarter ended 31 March 2026 and the corresponding quarter of the previous year.
What drove revenue or demand?
Revenue from operations stood at INR 120.44 crore for the quarter ended 30 June 2026, compared to INR 170.98 crore in the corresponding quarter of the previous year.
What mattered most for margins or profitability?
Cost of materials consumed was reported at INR 71.29 crore, while other expenses stood at INR 52.60 crore, exerting cost pressures that resulted in a pre-tax loss of INR 9.56 crore.
What changed operationally beyond the headline numbers?
The Board approved the re-designation of Mr. Vishambhar Saran as Non-Executive Chairman effective 15 December 2026, re-appointment of Mr. Vishal Agarwal as Vice Chairman & Managing Director, and re-appointment of Mr. Manoj Kumar as Joint Managing Director.
What are the main pressure points disclosed for the quarter?
The company incurred a net loss of INR 9.56 crore during the first quarter of fiscal year 2027.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Working capital availability: Monitor future disclosures regarding improvements in working capital availability and operational funding.
- 02
Going concern resolution: Track management's progress in securing long-term financing and restoring positive net worth to address auditor observations.
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