VISASTEEL2025-07-012025-09-30VISASTEEL2025-09-30VISASTEEL2025-03-31VISASTEEL2025-04-012025-09-30VISASTEEL2025-07-012025-09-30in-capmkt:OtherExpenses1MemberVISASTEEL2025-04-012025-09-30in-capmkt:OtherExpenses1MemberVISASTEEL2025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1VISASTEEL2025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain1VISASTEEL2025-06-30RelatedPartyTransactionDomain1VISASTEEL2025-09-30RelatedPartyTransactionDomain1VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain2VISASTEEL2025-06-30RelatedPartyTransactionDomain2VISASTEEL2025-09-30RelatedPartyTransactionDomain2VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain3VISASTEEL2025-06-30RelatedPartyTransactionDomain3VISASTEEL2025-09-30RelatedPartyTransactionDomain3VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain4VISASTEEL2025-06-30RelatedPartyTransactionDomain4VISASTEEL2025-09-30RelatedPartyTransactionDomain4VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain5VISASTEEL2025-06-30RelatedPartyTransactionDomain5VISASTEEL2025-09-30RelatedPartyTransactionDomain5VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain6VISASTEEL2025-06-30RelatedPartyTransactionDomain6VISASTEEL2025-09-30RelatedPartyTransactionDomain6VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain7VISASTEEL2025-06-30RelatedPartyTransactionDomain7VISASTEEL2025-09-30RelatedPartyTransactionDomain7VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain8VISASTEEL2025-06-30RelatedPartyTransactionDomain8VISASTEEL2025-09-30RelatedPartyTransactionDomain8VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain9VISASTEEL2025-06-30RelatedPartyTransactionDomain9VISASTEEL2025-09-30RelatedPartyTransactionDomain9VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain10VISASTEEL2025-06-30RelatedPartyTransactionDomain10VISASTEEL2025-09-30RelatedPartyTransactionDomain10VISASTEEL2025-07-012025-09-30RelatedPartyTransactionDomain11VISASTEEL2025-06-30RelatedPartyTransactionDomain11VISASTEEL2025-09-30RelatedPartyTransactionDomain11iso4217:INRiso4217:INRxbrli:shares532721VISASTEELNOTLISTEDINE286H01012VISA Steel LimitedMain BoardEquity2025-04-012026-03-312025-11-142025-11-07INRMillionsQuarterlySecond quarterSingle segmentFerro Alloys2025-11-1412:15:002025-11-1416:10:00trueCash Flow IndirectNot applicabletruetrueNANAfalsefalsefalsefalseNot Applicable2025-07-012025-09-30UnauditedStandalone7585200003228000079080000054221000000645900008384000064770000237610000993020000-2022200000-2022200000000-2022200000000-202220000-480000-202700000115790000010-1.75-1.7500-1.75-1.751. The standalone unaudited financial results of the company for the quarter ended 30 September 2025 have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under section 133 of the Companies Act 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 and relevant rules thereafter. <BR> 2. The standalone unaudited financial results of the company for the quarter ended 30 September 2025 have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under section 133 of the Companies Act 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 and relevant rules thereafter. <BR> 3.The Company is in the business of Ferro Alloys and hence has only one reportable operating segment as per Ind AS 108 "Operating Segments". <BR> 4.Revenue from Operations includes reimbursement towards materials at actuals, wherever applicable, used under conversion arrangement and hence is not comparable. <BR> 5. The Company has incurred net loss during the quarter ended 30 September 2025 which has adversely affected the net worth of the Company. The Company's financial performance has been adversely affected due to non-availability of working capital for operations, and other external factors beyond the Company’s control. It is expected that the overall financial health of the Company would improve after debt resolution and improvement in availability of working capital. Accordingly, the Company has prepared the financial results on the basis of going concern assumption. The statutory auditors have also drawn attention to the above matter without qualifying their conclusion in their Review Report. <BR> 6.The secured debt of the Company has been categorised as Non-Performing Assets (NPA) by the lenders effective 11 July 2012 and accordingly, the Company has stopped providing further interest in its books effective 1 April 2016. The amount of interest expenses not provided for is estimated at Rs. 399.35 Million for the quarter ended 30 September 2025 and the accumulated amount of interest not provided as on 30 September 2025 is estimated at Rs. 14,044.87 Million. The statutory auditors have qualified their Review Report in respect of this matter. <BR> 7.During the quarter ended 30 September 2025, Punjab and Sind Bank has assigned its debt to Assets Care & Reconstruction Enterprise Limited (ACRE). Majority of the lenders with approx. 96% of the debt have assigned their debt to ACRE including assignments in previous years. <BR> 8. During the quarter ended 30 September 2025, Punjab and Sind Bank has assigned its debt to Assets Care & Reconstruction Enterprise Limited (ACRE). Majority of the lenders with approx. 96% of the debt have assigned their debt to ACRE including assignments in previous years. <BR> 9.Subsequent to the quarter ended 30 September 2025, the Board of Directors of the Company at its meeting held on 4 October 2025 approved raising of funds by way of preferential Issue up to 5,00,00,000 warrants to VISA Industries Limited (a member of the promoter group) convertible into or exchangeable for equivalent number of fully paid up Equity Share of the Company of face value of Rs.10/- each at an issue price of Rs. 40/- each payable in cash, aggregating upto Rs. 2,000 million, which may be exercised in one or more tranches during the period commencing from the date of allotment of the warrants until the expiry of 18 months. The above was also approved by the shareholders of the Company in its Extra Ordinary General Meeting held on 2 November 2025. The proceeds of the preferential issue shall be utilized for repayment of debt and general corporate purposes. <BR> 10. The Exceptional Items of previous periods represent (a) impairment loss on fixed assets of Rs. 4,380.75 million (b) write off of abandoned projects lying in Capital Work in Progress Rs. 387.50 million (c) write back of difference between the outstanding amount and settlement amount of the loan exposure of Rs. 75.04 million. <BR> 11.The Company had received a notice dated 10 July 2025 from the State Pollution Control Board, Odisha (SPCB) regarding refusal to renew Consent to Operate (CTO) and submitted a response to SPCB requesting for grant of CTO to resume operations. Consequently, the Company has received grant of CTO from the SPCB, vide Order dated 6 September 2025 and has resumed operations. <BR> <BR> <BR> By Order of the Board <BR> For VISA Steel Limited <BR> <BR> <BR> <BR> Vishal Agarwal <BR> Vice Chairman & Managing Director <BR> DIN 00121539 <BR> Date: 14 November 2025 <BR> Place: Kolkata <BR> <BR> QUARTERLY INTEGRATED FILING (FINANCIALS) <BR> A: Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September 2025- Attached <BR> B: Statement on deviation or variation for proceeds of public issue, rights Issue, preferential issue, qualified institutions placement etc.- Not Applicable <BR> C: Format for disclosing outstanding default on loans and debt securities- Not Applicable <BR> D: Format for disclosure of related party transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)- Attached <BR> E: Statement on impact of audit qualifications (for audit report with Modified opinion) submitted along-with annual audited financial results (standalone and consolidated separately) (applicable only for annual filing i.e., 4th quarter)- Not Applicable2025-04-012025-09-30UnauditedStandalone24683000004101000025093100001518730000001355900001629000001288500007222400002668310000-1590000000-1590000000000-1590000000000-159000000-960000-159960000115790000010-1.37-1.3700-1.37-1.37Other Expenses237610000Other Expenses72224000043692400000004900000004223000000643400001065700000044763000001871400000427100001640000623700000253000000359720000315700002358600008142900000052905900001157900000-14926200000-13768300000-137683000000000350980000350980000125700000003635500001356592000002714100002714100002005850000158431800002843100000906000000186953400000019058890000529059000039060000-70770000-33200000035560000000013084000000012885000000000000000-16100000-6900000022183000062830000000-54100000682400000000000030000027880000000000000000000000161000000-259700000000000000409100000177000000-42680000-4100000-41000020500001640000Items that will not be reclassified to Profit or Loss-480000-480000Items that will not be reclassified to Profit or Loss-960000-96000000-480000-960000VISA Steel Limited******VISA Minmetal Limited******Member of a Group of which Enterprise having significant influence is also a memberPurchase of goods or services9500000000Approved2026570000256850000195550000VISA Steel Limited******VISA Coke Limited******Member of a Group of which Enterprise having significant influence is also a memberPurchase of goods or services600000000Approved274370000209210000138340000VISA Steel Limited******VISA Special Steel Limited******Member of a Group of which Enterprise having significant influence is also a memberPurchase of goods or services1000000000Approved1908500000-42710000VISA Steel Limited******VISA Infrastructure Limited******Enterprise having significant influenceAny other transactionFinance Cost40000000Approved17750000547080000563060000VISA Steel Limited******Vishambhar Saran******Key Managerial PersonnelRemuneration17420000Approved87100006500001410000VISA Steel Limited******Vishal Agarwal******Key Managerial PersonnelRemuneration18400000Approved91800007100001540000VISA Steel Limited******Manoj Kumar******Key Managerial PersonnelRemuneration7700000Approved3850000330000690000VISA Steel Limited******Ritu Bajaj******Independent DirectorAny other transactionSitting Fees1000000Approved27000000VISA Steel Limited******Biswajit Chongdar******Independent DirectorAny other transactionSitting Fees1000000Approved27000000VISA Steel Limited******Dhanesh Ranjan******Independent DirectorAny other transactionSitting Fees1000000Approved21000000VISA Steel Limited******VISA Urban Infra Limited******Joint VentureAny other transactionShare of profit/loss of Joint Venture1000000Approved10000002532040000