Vipul Ltd FY26 Revenue Falls 31.6% to Rs 595.78 Million

Vipul Ltd reported revenue of Rs 595.78 million for the year ended March 31, 2026, a 31.58% decline from FY25, while recording a net loss of Rs 84.30 million and an operating loss of Rs 327.16 million. The figures show that the company ended FY26 with lower sales and negative gross profitability.

What did Vipul Ltd report for FY26?

Vipul Ltd reported total revenue of Rs 595.78 million in FY26, compared with Rs 870.76 million in FY25. The annual decline followed a sharp rise in FY25, when revenue had increased 175.62% from Rs 749.16 million in FY24 to Rs 2,064.86 million in FY25, based on the reported annual series.

The company reported a net loss of Rs 84.30 million for FY26. Its operating income was negative Rs 327.16 million, indicating an operating loss. Gross profit also turned negative at Rs 10.99 million, compared with gross profit of Rs 62.50 million in FY25.

How did Vipul Ltd's margins change in FY26?

Vipul Ltd's gross profit margin was negative 1.84% in FY26, versus 7.18% in FY25. The reported gross-profit change was negative 117.58% year on year, reflecting the move from a positive gross-profit figure in FY25 to a gross loss in FY26.

The reported annual data show substantial revenue and profitability volatility over recent years. Revenue was Rs 1,382.45 million in FY23, fell to Rs 749.16 million in FY24, climbed to Rs 2,064.86 million in FY25, and then declined to Rs 595.78 million in FY26. The supplied data do not state the operational reasons for these changes.

What were Vipul Ltd's latest quarterly results?

Vipul Ltd's reported latest quarterly revenue was Rs 77.23 million, while net income was a loss of Rs 7.70 million. The quarterly gross profit was negative Rs 162.43 million, operating income was negative Rs 193.03 million, and EBITDA was negative Rs 190.91 million.

A separate company-results summary for the quarter ended June 30, 2026, described as Q1 FY27, reported revenue from operations of Rs 77.234 million and a standalone net loss of Rs 7.712 million. Total income was Rs 278.416 million, including other income of Rs 201.182 million, while total expenses were Rs 286.128 million.

The Q1 FY27 summary said the standalone loss narrowed from Rs 10.368 million in the corresponding prior-year period. Consolidated net loss was Rs 7.732 million, compared with a loss of Rs 10.325 million in the cited comparable period. Basic and diluted earnings per share were negative Rs 0.05 on both standalone and consolidated bases.

What did the auditor and company filings disclose?

The statutory auditor, JSUS & Associates, issued a qualified conclusion on Vipul Ltd's standalone and consolidated Q1 FY27 financial results. The information provided does not specify the basis for the qualification, so its detailed financial implications cannot be assessed from the reported material alone.

Vipul Ltd also disclosed publication of unaudited standalone and consolidated quarterly results for the quarter ended June 30, 2026 in newspaper clippings dated October 16, 2026. The filing was made under the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015, and the publication notice itself contained no new financial forecasts.

How should investors read Vipul Ltd's reported numbers?

Vipul Ltd's FY26 figures indicate pressure across revenue, gross profitability and operating income. The move to a negative gross margin is particularly relevant because it means the company reported a gross loss for the year before considering other operating costs and income.

The quarterly data show a narrower reported net loss in the June 2026 quarter compared with the cited prior-year quarter, but the company remained loss-making. Revenue from operations of Rs 77.23 million was supplemented by Rs 201.18 million of other income in the reported quarterly total income, making the distinction between operating revenue and total income important when assessing the period.

The source material also refers to a board meeting scheduled for November 5, 2026, to consider unaudited second-quarter and half-year results for FY27. It states that insider-trading restrictions applied until November 7, 2026. Investors would need to review the final results filing and auditor observations for updated information.

Conclusion

Vipul Ltd closed FY26 with revenue of Rs 595.78 million, down 31.58% from FY25, and reported losses at the gross, operating and net-income levels. The annual outcome followed sharp movements in revenue over the preceding three financial years, while the June 2026 quarterly disclosure showed a smaller net loss than the cited comparable period.

The next disclosed event to watch is the board's consideration of unaudited Q2 and half-year FY27 results, scheduled for November 5, 2026. The detailed outcome, including the auditor's qualified conclusion and the mix of operating revenue and other income, remains relevant for evaluating Vipul Ltd's financial position.