VPRPL FY26: Revenue Drops 31.2% to ₹851 Crore, Reports Loss of ₹150 Crore
Vishnu Prakash R Punglia Limited (VPRPL) reported FY2026 revenue of ₹851.19 crore, down 31.2% from FY2025, and a net loss of ₹150.11 crore. This was due to slowed government payments and certification. The company maintained an order book of ₹4,391.09 crore and focused on solvency, generating positive operating cash flow.
The decline in revenue and profitability, coupled with extended collection days, will likely impact the company's short-term financial health and investor sentiment. However, a strong order book and focus on solvency mitigate the immediate impact.
The company reported a significant decline in revenue and a net loss for the financial year 2025-26, indicating a negative financial performance.
Vishnu Prakash R Punglia Limited (VPRPL) reported a challenging financial year 2025-26, with revenue from operations declining by 31.2% to ₹8,511.95 million (₹851.19 crore) from ₹12,374.18 million in FY2025. The company recorded a loss after tax of ₹1,501.16 million (₹150.11 crore) for FY2026, a significant shift from a profit after tax of ₹585.96 million in the previous year. The EBITDA margin also saw a considerable decrease, standing at (9.65)% in FY2026 compared to 12.56% in FY2025. Diluted Earnings Per Share (EPS) was ₹(12.04) in FY2026, down from ₹4.70 in FY2025.
The decline in performance is attributed to a slowdown in work certification and payment releases from government departments, particularly impacting the Jal Jeevan Mission funding which fell to ₹22,670 crore in 2024-25 from ₹70,000 crore previously. This led to an extension in collection days to 277 and inventory days to 305.
Despite the financial downturn, VPRPL maintained a robust order book of approximately ₹43,910.9 million as of March 31, 2026, providing revenue visibility for 2-3 years. The company focused on solvency, generating ₹1,417.74 million in net cash from operating activities and repaying ₹3,400 million in bank and financial institution facilities, reducing total borrowings to ₹6,495.45 million. Promoters provided significant support through unsecured, interest-free loans amounting to ₹4,661.73 million during the year.
VPRPL is strategically focused on clearing pending work certifications, realizing receivables, and managing working capital. The company is also pursuing opportunities under the newly approved Jal Jeevan Mission 2.0, which has an outlay of ₹8.69 lakh crore until December 2028, and will continue its participation in railway and road infrastructure projects.
The company also announced the enclosure of its Business Responsibility and Sustainability Report for the financial year 2025-26, which is available on its website.
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Vishnu Prakash R Punglia Limited filed this with the NSE as a statutory disclosure, categorised under annual results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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