VISAKAIND - Visaka Industrie
📢 Recent Corporate Announcements
Visaka Industries Limited has successfully completed the transfer of leasehold rights for a 7-acre land parcel and building in Chennai to Caresoft Global Mobility Technologies. The company received a net consideration of Rs 32.53 crores after a TDS deduction of Rs 32.86 lakhs. This transaction involves a non-strategic asset, ensuring no disruption to the company's core manufacturing operations. The move is part of a strategy to monetize non-core assets and improve the company's liquidity position.
- Total gross consideration for the transfer of leasehold rights is Rs 32.86 crores.
- The transaction involves 7 acres of land and building at Mahindra World City, Chennai.
- The sale was completed on February 12, 2026, following an MOU signed in December 2025.
- The buyer, Caresoft Global Mobility Technologies, is a third-party entity with no promoter links.
- Net proceeds received by the company after tax deductions amounted to Rs 32.53 crores.
Visaka Industries has returned to profitability in Q3 FY26, reporting a net profit of ₹2.73 crore compared to a net loss of ₹10.31 crore in the year-ago period. Revenue from operations grew 4.5% year-on-year to ₹366.99 crore. For the nine-month period ending December 2025, the company posted a strong net profit of ₹46.92 crore, significantly aided by a one-time exceptional gain of ₹36.74 crore from a land sale in Ahmedabad. The company also showed improved cost management, particularly with a reduction in finance costs.
- Net Profit for Q3 FY26 stood at ₹2.73 crore against a loss of ₹10.31 crore in Q3 FY25.
- Revenue from operations increased to ₹366.99 crore from ₹350.96 crore in the same quarter last year.
- Finance costs reduced to ₹8.42 crore in Q3 FY26 from ₹11.25 crore in Q3 FY25.
- 9M FY26 performance includes an exceptional gain of ₹36.74 crore from the sale of land in Gujarat.
- Earnings Per Share (EPS) turned positive at ₹0.32 for the quarter compared to negative ₹1.19 YoY.
Visaka Industries Limited has reported a significant turnaround in Q3 FY26, posting a net profit of ₹2.73 crore compared to a loss of ₹10.31 crore in the same quarter last year. Revenue for the quarter grew by 4.5% year-on-year to ₹366.99 crore. For the nine-month period ended December 2025, the company achieved a profit of ₹46.92 crore, which was significantly bolstered by an exceptional gain of ₹36.74 crore from a land sale in Ahmedabad. Operational efficiency improved as the company managed to reduce finance costs by approximately 25% year-on-year.
- Q3 FY26 Net Profit of ₹2.73 crore compared to a Net Loss of ₹10.31 crore in Q3 FY25.
- Revenue from operations increased to ₹366.99 crore in Q3 FY26 from ₹350.96 crore YoY.
- 9M FY26 Net Profit reached ₹46.92 crore, aided by a ₹36.74 crore exceptional gain from land sale.
- Finance costs for Q3 FY26 decreased to ₹8.42 crore from ₹11.25 crore in the previous year's corresponding quarter.
- Earnings Per Share (EPS) improved to ₹0.32 for the quarter, up from a negative ₹1.19 in Q3 FY25.
Visaka Industries Limited (VISAKAIND) reported a significant turnaround in Q3 FY26, posting a net profit of ₹2.73 crore compared to a net loss of ₹10.31 crore in the same period last year. Revenue from operations grew by 4.5% YoY to ₹366.99 crore. The company's nine-month performance was significantly bolstered by a one-time exceptional gain of ₹36.74 crore from a land sale in Ahmedabad. Notably, finance costs saw a sharp reduction of 25% YoY, dropping to ₹8.42 crore, which aided the bottom-line recovery.
- Revenue from operations increased to ₹366.99 crore in Q3 FY26 from ₹350.96 crore in Q3 FY25.
- Net profit for the quarter stood at ₹2.73 crore, reversing a loss of ₹10.31 crore in the previous year's quarter.
- Nine-month profit reached ₹46.92 crore, inclusive of a ₹36.74 crore exceptional gain from land sale.
- Finance costs reduced significantly to ₹8.42 crore from ₹11.25 crore in the year-ago period.
- Earnings Per Share (EPS) improved to ₹0.32 for Q3 FY26 from a negative ₹1.19 in Q3 FY25.
Visaka Industries Limited has filed a status report regarding the re-lodgement of physical share transfer requests as mandated by SEBI. For the month ending January 31, 2026, the company's Registrar and Share Transfer Agent, KFin Technologies, reported that zero requests were received. This regulatory window is specifically for physical shares lodged before April 1, 2019, that were previously rejected due to deficiencies. The filing confirms no pending or processed activity in this specific administrative category for the reporting period.
- Compliance report filed as per SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97.
- Zero (NIL) requests for re-lodgement of physical share transfers were received during January 2026.
- Zero (NIL) requests were processed, approved, or rejected by the RTA during the month.
- The report pertains to share transfers lodged prior to the April 1, 2019 deadline.
- Status confirmed by Registrar and Share Transfer Agent, KFin Technologies Limited.
Visaka Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms the processing of dematerialization and rematerialization requests for the period ending December 31, 2025. This is a standard regulatory requirement for listed companies to ensure shareholding records are accurately maintained with depositories. There is no impact on the company's financial performance or business operations from this filing.
- Compliance certificate submitted for the quarter ended December 31, 2025
- Issued by Registrar and Share Transfer Agent KFin Technologies Limited
- Confirms adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Ensures that securities dematerialized/rematerialized have been reported to stock exchanges
Visaka Industries has submitted a status report regarding the re-lodgement of physical share transfer requests for the month ending December 31, 2025. This disclosure follows the SEBI circular dated July 2, 2025, which provided a special window for transfers rejected prior to April 1, 2019. The company's Registrar and Share Transfer Agent, KFin Technologies, reported that zero requests were received or processed during the month. This is a routine regulatory filing and does not affect the company's financial position or operations.
- Zero (NIL) requests for physical share transfer re-lodgement were received during December 2025.
- Zero (NIL) requests were processed, approved, or rejected by the RTA, KFin Technologies.
- The report is in compliance with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97.
- The window addresses physical share transfers that were deficient or rejected before the April 1, 2019 deadline.
Visaka Industries Limited has announced the retirement of Shri Rajnavneeth Rao Linga Rao Thurpu from his position as President - Technical (AC Division). He was a key member of the Senior Management team and will officially step down at the close of business hours on December 30, 2025. The company has filed this disclosure in compliance with Regulation 30 of the SEBI Listing Regulations. As this is a scheduled retirement, it represents a routine transition in the company's technical leadership.
- Shri Rajnavneeth Rao Linga Rao Thurpu retires as President - Technical for the AC Division.
- The retirement is effective from the closing business hours of December 30, 2025.
- The change is classified as a routine retirement rather than a resignation or removal.
- Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Visaka Industries Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI insider trading regulations. This closure is specifically for the finalization and declaration of the company's audited financial results for the third quarter and nine months ending December 31, 2025. The window will remain closed for all designated persons and will reopen 48 hours after the financial results are submitted to the stock exchanges. This is a standard regulatory procedure followed by listed companies prior to earnings announcements.
- Trading window closure begins on January 1, 2026
- Closure pertains to Q3 and nine-month financial results ending December 31, 2025
- Window to reopen 48 hours after the official announcement of financial results
- Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015
Visaka Industries Limited has entered into a Memorandum of Understanding (MoU) to transfer its leasehold rights for a 7-acre land parcel in Mahindra World City, Chennai. The transaction is valued at Rs 32.86 crores and is being executed with M/s Caresoft Global Mobility Technologies Private Limited. The company has identified this land as a non-strategic asset, meaning the sale will not impact its core manufacturing operations. The deal is expected to be completed within 60 to 90 days, providing a healthy cash inflow for the company.
- Transfer of leasehold rights for 7.00 acres of land situated at Mahindra World City, Chennai.
- Total consideration for the transaction is Rs 32.86 crores to be received in tranches.
- The buyer, Caresoft Global Mobility Technologies, is not a related party to the promoters.
- Expected completion timeline is 60 days from the MoU date, extendable by another 30 days.
- The asset is classified as non-strategic, ensuring no disruption to existing business turnover.
Visaka Industries has announced the re-lodgement of physical share transfer requests as per SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 2, 2025. The company's Registrar and Share Transfer Agent, KFin Technologies Limited, provided a report on December 02, 2025, regarding the status of these requests. As of November 30, 2025, no requests were received or processed during the month. This is a regulatory update regarding share transfers.
- SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 2, 2025
- Report from KFin Technologies Limited dated December 02, 2025
- No requests received during the month
- No requests processed during the month
Financial Performance
Revenue Growth by Segment
Total Operating Income (TOI) grew marginally by ~1% from INR 1,526 Cr in FY24 to INR 1,545 Cr in FY25. The Vnext segment is growing at a rate of 25% upwards year-on-year, while the company is intentionally shifting focus away from the legacy roofing business to achieve a 50:50 revenue split by FY25.
Geographic Revenue Split
Not disclosed in available documents, though the company operates 13 pan-India manufacturing locations providing geographic dispersal.
Profitability Margins
EBITDA margin increased by 64 basis points from 6.51% in FY24 to 7.15% in FY25. Net profit margin decreased by 16 basis points from 0.17% in FY24 to 0.01% in FY25 due to higher interest and depreciation expenses.
EBITDA Margin
EBITDA margin was 7.15% in FY25, up from 6.51% in FY24 (+64 bps). Q1FY26 PBILDT margins further improved to 10.07% from 8.51% in Q1FY25 (+156 bps) due to better cost management and softening raw material prices.
Capital Expenditure
The company added 2 new plants in the last couple of years and is adding another plant for the Vnext division in the current year to support rapid product acceptance.
Credit Rating & Borrowing
Long-term bank facilities and fixed deposits are rated CARE A+; Negative (outlook revised from Stable). Short-term facilities are rated CARE A1+. Debt-to-equity ratio improved from 0.36x in FY24 to 0.30x in FY25.
Operational Drivers
Raw Materials
Chrysotile fiber is the primary raw material for the roofing segment; its cost is considered the 'new normal' following recent price volatility.
Capacity Expansion
Current capacity is dispersed across 13 pan-India manufacturing locations. Planned expansion includes adding one new plant for the Vnext division in the current year.
Raw Material Costs
Raw material costs for the roofing segment remain high, necessitating price increases to maintain normal margins. PBILDT margins improved in Q1FY26 partly due to softening raw material prices.
Manufacturing Efficiency
Inventory turnover improved from 97 days in FY24 to 95 days in FY25, indicating better operational efficiency.
Strategic Growth
Expected Growth Rate
25%
Growth Strategy
The company is executing a strategic shift from legacy roofing to new-age businesses (Vnext and Atum Solar) to reach a 50:50 revenue mix by FY25. This is supported by adding new manufacturing capacity for Vnext, where margins have scaled from 8% to ~15%.
Products & Services
V-Boards, V-Panels, Atum Solar panels, and Roofing sheets.
Brand Portfolio
Vnext, Atum, and Visaka.
New Products/Services
Vnext products (boards and panels) and Atum Solar panels are the primary new-age growth drivers, with Vnext margins now exceeding 14-15%.
Market Expansion
Expansion is focused on the Vnext space due to rapid acceptance; the company is adding a new plant this year to meet growing demand.
External Factors
Industry Trends
There is a significant industry shift toward sustainable building materials. Plywood manufacturers are becoming more active in protecting their market share against fiber-cement board alternatives like Vnext.
Competitive Landscape
Key competition comes from the plywood industry, which is reacting to the growth of fiber-cement boards and panels.
Competitive Moat
The company possesses a niche moat in the Vnext space, where it is 'least impacted' during downtrends compared to competitors. This advantage is sustained by 40+ years of experience and a pan-India manufacturing footprint.
Macro Economic Sensitivity
Global economic growth declined from 3.3% in 2023 to 3.2% in 2024, impacting global manufacturing and supply chains.
Consumer Behavior
Consumers are increasingly shifting toward new-age, sustainable building materials, driving the 25% YoY growth in the Vnext division.
Geopolitical Risks
Supply chain disruptions and weak consumer sentiment in advanced economies are cited as risks to global growth.
Regulatory & Governance
Industry Regulations
The company complies with Secretarial Standards and the Companies Act, 2013. It maintains internal financial controls to ensure compliance with all applicable laws.
Risk Analysis
Key Uncertainties
Volatility in Chrysotile fiber prices and the intensity of competition from the plywood sector are the primary business uncertainties.
Geographic Concentration Risk
Geographic risk is mitigated by 13 pan-India manufacturing locations.
Credit & Counterparty Risk
Debtor turnover cycle increased to 39 days in FY25 from 33 days in FY24 due to extended credit periods provided to customers in response to market conditions, increasing receivables to INR 194.17 Cr.