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 Consolidated
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



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 Consolidated Consolidated
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 442600000 870764000
Other income 35539000 122310000
Total income 478139000 993074000
2 Expenses
(a) Cost of materials consumed 583795000 804991000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 20528000 -430000
(d) Employee benefit expense 26134000 91360000
(e) Finance costs 130732000 235032000
(f) Depreciation, depletion and amortisation expense 7445000 28121000
(f) Other Expenses
1 Other Expenses 46027000 104838000
Total other expenses 46027000 104838000
Total expenses 814661000 1263912000
3 Total profit before exceptional items and tax -336522000 -270838000
4 Exceptional items -13037000 -13037000
5 Total profit before tax -349559000 -283875000
6 Tax expense
7 Current tax 308000 308000
8 Deferred tax 0 0
9 Total tax expenses 308000 308000
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 -349867000 -284183000
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 333000 1494000
16 Total profit (loss) for period -349534000 -282689000
17 Other comprehensive income net of taxes 3292000 3292000
18 Total Comprehensive Income for the period -346242000 -279397000
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 3629517000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -2.53 -2.05
Diluted earnings (loss) per share from continuing operations -2.53 -2.05
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 -2.53 -2.05
Diluted earnings (loss) per share from continuing and discontinued operations -2.53 -2.05
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 Consolidated
Assets
1 Non-current assets
Property, plant and equipment 360406000
Capital work-in-progress 51175000
Investment property 0
Goodwill 160737000
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 22218000
Trade receivables, non-current 0
Loans, non-current 78550000
Other non-current financial assets 0
Total non-current financial assets 100768000
Deferred tax assets (net) 15486000
Other non-current assets 673275000
Total non-current assets 1361847000
2 Current assets
Inventories 4399442000
Current financial asset
Current investments 0
Trade receivables, current 2723518000
Cash and cash equivalents 403100000
Bank balance other than cash and cash equivalents 0
Loans, current 0
Other current financial assets 1202874000
Total current financial assets 4329492000
Current tax assets (net) 0
Other current assets 1805208000
Total current assets 10534142000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 11895989000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 140959000
Other equity 3629517000
Total equity attributable to owners of parent 3770476000
Non controlling interest 0
Total equity 3770476000
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 35608000
Total non-current liabilities 35608000
Current liabilities
Current financial liabilities
Borrowings, current 848557000
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 465111000
Total Trade payable 465111000
Other current financial liabilities 1896191000
Total current financial liabilities 3209859000
Other current liabilities 4826409000
Provisions, current 53637000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 8089905000
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 8125513000
Total equity and liabilites 11895989000
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 Consolidated Consolidated
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 Consolidated Consolidated
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 Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -283875000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 235032000
Adjustments for decrease (increase) in inventories -430000
Adjustments for decrease (increase) in trade receivables, current 0
Adjustments for decrease (increase) in trade receivables, non-current -240567000
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 604176000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -83180000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 242405000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 28121000
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 99992000
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) 13036000
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) 698601000
Net cash flows from (used in) operations 414726000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) -14978000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 429704000
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 31000000
Purchase of property, plant and equipment 14406000
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 0
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 99992000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities 116586000
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 -950857000
Repayments of borrowings 78700000
Payments of lease liabilities 0
Dividends paid 0
Interest paid 235032000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 476133000
Net cash flows from (used in) financing activities -767481000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -221191000
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 -221191000
Cash and cash equivalents cash flow statement at beginning of period 423763000
Cash and cash equivalents cash flow statement at end of period 202572000





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 993074000 993074000
2 Total Expenditure 1263912000 1263912000
3 Net Profit/(Loss) -282689000 -282689000
4 Earnings Per Share -2.05 -2.05
5 Total Assets 11895989000 11895989000
6 Total Liabilities 8125513000 8125513000
7 Net Worth 3770476000 3770476000


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)
4 Textual Information(16) Qualified opinion Repetitive Textual Information(17) Textual Information(18) Textual Information(19) Textual Information(20)
5 Textual Information(21) Qualified opinion Repetitive Textual Information(22) Textual Information(23) Textual Information(24) Textual Information(25)


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 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 Holding Company and its subsidiaries have 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 Holding Company has not provided interest on advance received from customers as negotiations for settlement of the same is under progress. n nFurther, the Holding Company has also not provided for interest on its unsecured borrowings and ICDs for which 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.
Textual Information(16) In one subsidiary not audited by us and whose audit reports for financial year ending 31st March 2025 has been provided to us, the concerned auditors have stated that the Company has continued to capitalize its Bank Guarantee charges as Capital Work-in-Progress inspite of not having any projects under progress.
Textual Information(17) The same will be accounted for at the time of commencement of the project.
Textual Information(18) The same will be accounted for at the time of commencement of the project.
Textual Information(19) The same will be accounted for at the time of commencement of the project.
Textual Information(20) No specific comments other than our observation in auditors report. Impact on revenue in unascertainable.
Textual Information(21) In one associate which has not been audited and whose financial statements have been certified by the Management, the auditor who had audited the financial statements of the associate for the year ended March 31, 2025 had stated that the said associate have not complied with the requirements of Ind AS 116 in respect of a leasehold land in the associate. In the absence of the audited financial statements for the year ended March 31, 2025, we are unable to comment on whether the circumstances which resulted in the modified opinion still exist.
Textual Information(22) The project under the associate company is abandoned since long and there is no activity in the said project. The company will do the necessary IndAS compliance once the activity in the said project commences.
Textual Information(23) The project under the associate company is abandoned since long and there is no activity in the said project. The company will do the necessary IndAS compliance once the activity in the said project commences.
Textual Information(24) The project under the associate company is abandoned since long and there is no activity in the said project. The company will do the necessary IndAS compliance once the activity in the said project commences.
Textual Information(25) 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