Integrated Filing — IndAS



General information about company
Scrip Code 511726
NSE Symbol VIPULLTD
MSEI Symbol NOTLISTED
ISIN INE946H01037
Name of company VIPUL LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 16-Jun-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 30-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment REAL ESTATE
Start date and time of board meeting 16-Jun-2025   12:50:00
End date and time of board meeting 16-Jun-2025   16:15:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public No
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2025-02-05
Indicate Company website link for updated RPT policy of the Company http://www.vipulgroup.in/assets/invester-pdf/notice-shareholders-stock-exchange/notice-for-shareholdersstock-exchange-policy-of-materiality-and-dealing-with-related-party-transactions67a597ab25557.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? Yes



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 404439000 812658000
Other income 48711000 126085000
Total income 453150000 938743000
2 Expenses
(a) Cost of materials consumed 583471000 788821000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -16440000 -37547000
(d) Employee benefit expense 23458000 82497000
(e) Finance costs 126544000 217960000
(f) Depreciation, depletion and amortisation expense 1668000 6847000
(f) Other Expenses
1 Other Expenses 43484000 99139000
Total other expenses 43484000 99139000
Total expenses 762185000 1157717000
3 Total profit before exceptional items and tax -309035000 -218974000
4 Exceptional items 0 0
5 Total profit before tax -309035000 -218974000
6 Tax expense
7 Current tax 0 0
8 Deferred tax 0 0
9 Total tax expenses 0 0
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -309035000 -218974000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period -309035000 -218974000
17 Other comprehensive income net of taxes 3292000 3292000
18 Total Comprehensive Income for the period -305743000 -215682000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 140959000 140959000
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 3673137000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -2.24 -1.59
Diluted earnings (loss) per share from continuing operations -2.24 -1.59
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -2.24 -1.59
Diluted earnings (loss) per share from continuing and discontinued operations -2.24 -1.59
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) As per attachment



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 28246000
Capital work-in-progress 0
Investment property 0
Goodwill 0
Other intangible assets 0
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 97998000
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 0
Total non-current financial assets 97998000
Deferred tax assets (net) 732000
Other non-current assets 1092122000
Total non-current assets 1219098000
2 Current assets
Inventories 4099272000
Current financial asset
Current investments 0
Trade receivables, current 2723043000
Cash and cash equivalents 317755000
Bank balance other than cash and cash equivalents 0
Loans, current 0
Other current financial assets 1190994000
Total current financial assets 4231792000
Current tax assets (net) 0
Other current assets 2361743000
Total current assets 10692807000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 11911905000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 140959000
Other equity 3673137000
Total equity attributable to owners of parent 3814096000
Non controlling interest
Total equity 3814096000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 0
Total non-current financial liabilities 0
Provisions, non-current 0
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 34169000
Total non-current liabilities 34169000
Current liabilities
Current financial liabilities
Borrowings, current 848558000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 449983000
Total Trade payable 449983000
Other current financial liabilities 1838034000
Total current financial liabilities 3136575000
Other current liabilities 4927065000
Provisions, current 0
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 8063640000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 8097809000
Total equity and liabilites 11911905000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclasified to profit or loss 3292000 3292000
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
Total Amount of items that will not be reclassified to profit and loss 3292000 3292000
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income 3292000 3292000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -218974000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 217960000
Adjustments for decrease (increase) in inventories -37547000
Adjustments for decrease (increase) in trade receivables, current 0
Adjustments for decrease (increase) in trade receivables, non-current -240924000
Adjustments for decrease (increase) in other current assets 0
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 551745000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -82307000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 68579000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 6847000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 98926000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) -17700000
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 367727000
Net cash flows from (used in) operations 148753000
Dividends received 0
Interest paid -22457000
Interest received 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 171210000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 0
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 31000000
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 98926000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities 129926000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 20975000
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings -136127000
Repayments of borrowings 745529000
Payments of lease liabilities 0
Dividends paid 0
Interest paid 217960000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 476133000
Net cash flows from (used in) financing activities -602508000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -301372000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -301372000
Cash and cash equivalents cash flow statement at beginning of period 418599000
Cash and cash equivalents cash flow statement at end of period 117227000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 JSUS & ASSOCIATES Yes 31-Aug-2024


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 938743000 938743000
2 Total Expenditure 1157717000 1157717000
3 Net Profit/(Loss) -218974000 -218974000
4 Earnings Per Share -1.59 -1.59
5 Total Assets 11911905000 11911905000
6 Total Liabilities 8097809000 8097809000
7 Net Worth 3814096000 3814096000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Repetitive Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)
3 Textual Information(11) Qualified opinion Repetitive Textual Information(12) Textual Information(13) Textual Information(14) Textual Information(15)


Text Block
Textual Information(1) Cash and cash equivalents include cheques in hand aggregating to Rs. 220.06 lakhs collected from customers towards advances/booking amounts. As stated by the management, these are yet to be presented for encashment at the request of customers. Further Cash and Cash Equivalent also include Rs. 48.70 lakhs held in dormant bank and Rs. 239.27 lakhs held in frozen bank account.
Textual Information(2) As stated by the management, these are yet to be presented for encashment at the request of customers. However, the Company has recovered substantial amount during the year under review.
Textual Information(3) As stated by the management, these are yet to be presented for encashment at the request of customers. However, the Company has recovered substantial amount during the year under review.
Textual Information(4) As stated by the management, these are yet to be presented for encashment at the request of customers. However, the Company has recovered substantial amount during the year under review.
Textual Information(5) No specific comments other than our observation in auditors report. Impact on revenue in unascertainable.
Textual Information(6) The Company has taken as well as granted several secured and unsecured loans and advances during the quarter. The agreements/ documentation in respect of such loans and advances are in the process of being signed. In the absence of such signed agreements, interest payable and receivable, as applicable, has been computed on the basis of the details provided by the Management where available. The impact, if any, will be recognized after the completion of such documentation.
Textual Information(7) The agreements are in the process of execution and signing.
Textual Information(8) The agreements are in the process of execution and signing.
Textual Information(9) The agreements are in the process of execution and signing.
Textual Information(10) No specific comments other than our observation in auditors report. Impact on revenue in unascertainable.
Textual Information(11) The Company has not provided interest on advance received from customers as negotiations for settlement of the same is under progress. n nFurther, the Company has also not provided for interest on its unsecured borrowings and ICDs for which the negotiations are ongoing as per the information and explanations provided to us. The impact, will be recognized after the completion of such negotiations. n
Textual Information(12) The negotiations for settlement of the same is under progress.
Textual Information(13) The negotiations for settlement of the same is under progress.
Textual Information(14) The negotiations for settlement of the same is under progress.
Textual Information(15) No specific comments other than our observation in auditors report. Impact on revenue in unascertainable.


Signatories detail
Name of CEO / Managing director PUNIT BERIWALA
Name of CFO PUNIT BERIWALA
Name of audit committee chairman AJAY ARJIT SINGH
Name of statutory auditor JSUS & ASSOCIATES
Name of other signatory, if any, with designation NA
Place GURUGRAM
Date 16-Jun-2025


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 Vipul Limited Abhipra Trading Pvt. Ltd. Subsidiary Any other transaction Reimbursement NA 32000 109000 141000
2 Vipul Limited Bhatinda Hotels Ltd. Subsidiary Any other transaction Reimbursement NA 41000 137000 178000
3 Vipul Limited Enterpreneurs Calcutta Pvt. Ltd. Subsidiary Advance NA 13922000 273753000 287675000
4 Vipul Limited Graphic Research Consultants (India) Pvt. Ltd. Subsidiary Any other transaction Reimbursement NA 13000 60795000 60809000
5 Vipul Limited Maxworth Marketing Pvt. Ltd. Subsidiary Any other transaction Reimbursement NA -104000 13142000 13038000
6 Vipul Limited Ritwiz Builders and Developers Pvt. Ltd. Subsidiary Advance NA 87741000 -30929000 56812000
7 Vipul Limited URR Housing and Construction Pvt. Ltd. Subsidiary Advance NA 69248000 -52248000 17000000
8 Vipul Limited Vineeta Trading Pvt. Ltd. Subsidiary Any other transaction Reimbursement NA 31000 257000 288000
9 Vipul Limited Vipul Eastern Infracon Pvt. Ltd. Subsidiary Any other transaction Reimbursement NA 18000 32177000 32195000
10 Vipul Limited Vipul Hospitality Limited Subsidiary Any other transaction Reimbursement NA 1226000 116400000 117626000
11 Vipul Limited United Buildwell Pvt. Ltd. Subsidiary Advance NA 24000 -265015000 -264991000
12 Vipul Limited Vipul Karamchand SEZ Pvt. Ltd. Associate Any other transaction Reimbursement NA 0 108066000 108066000
13 Vipul Limited Choice Real Estate Developers Pvt. Ltd. Associate Any other transaction Reimbursement NA -36359000 113023000 76664000
14 Vipul Limited Whitfield Infrastructure Development Pvt. Ltd. Associate Any other transaction Reimbursement NA 0 1014000 1024000
15 Vipul Limited S.U Finance Ltd. Entities in which a KMP is interested Any other transaction Reimbursement NA 31000 268000 299000
16 Vipul Limited Punit Beriwala KMP Remuneration NA 6780000 0 0
17 Vipul Limited Sunil Kumar KMP Remuneration NA 298000 0 0
18 Vipul Limited Manasi Beriwala Mahajan Relative of a KMP Any other transaction Professional Services NA 600000 0 0
Total value of transaction during the reporting period 143542000





Format for Disclosing Outstanding Default on Loans and Debt Securities
Sr. No. Particulars Amount Remarks
1. Loans / revolving facilities like cash credit from banks / financial institutions
A Total amount outstanding as on date 845000000
B Of the total amount outstanding, amount of default as on date 706200000
2. Unlisted debt securities i.e. NCDs and NCRPS
A Total amount outstanding as on date 0
B Of the total amount outstanding, amount of default as on date 0
3. Total financial indebtedness of the listed entity including short-term and long-term debt 845000000