VIP Industries Reports FY26 Net Loss, Names Deloitte as New Auditor

VIP Industries reported a consolidated net loss of ₹68.79 crore for the fiscal year ended March 31, 2026, with revenues reaching ₹2,178.43 crore.

The company's standalone results showed a steeper net loss of ₹338.02 crore, with standalone revenues at ₹2,169.66 crore.

In a significant corporate governance development, the Board recommended Deloitte Haskins & Sells Chartered Accountants LLP as the new statutory auditors for a five-year term. This appointment will replace Price Waterhouse Chartered Accountants LLP, subject to shareholder approval at the upcoming Annual General Meeting.

These results mark a shift from the previous fiscal year. For FY25, VIP Industries had reported a consolidated net profit of ₹30 crore and a standalone net profit of ₹10 crore.

The company is currently navigating legal and tax matters. These include ongoing trademark litigation, which the company states has strong merits, and a Goods and Services Tax (GST) investigation in Maharashtra. VIP Industries has paid a GST amount and expensed related interest and ineligible tax credit, with management indicating no material adverse impact.

VIP Industries faces competition from players like Safari Industries India Ltd. In contrast, Safari Industries India Ltd. reported a 15% revenue growth and a 10% profit increase for FY26.

Investors will be watching the company's strategies to address standalone losses and enhance profitability, alongside updates on the legal and GST matters.