Vishnu Prakash R

Vishnu Prakash R Punglia’s ₹960 crore of bank facilities were migrated by CARE to CARE D and the issuer-not-cooperating category, from CARE BB-/A4 ratings. CARE cited delays in servicing principal on unsecured short-term working-capital borrowings and the company’s failure to submit no-default statements for the three months through August. The company said it had rejected CARE’s February review, appointed another SEBI-registered agency and disseminated that agency’s assessment on August 26, while maintaining that it continued to service debt under agreed terms. It reported FY26 operating income of ₹851.2 crore, a PBILDT loss of ₹82.1 crore and a net loss of ₹150.1 crore, followed by Q1FY27 PBILDT and net losses of ₹34 crore and ₹39.3 crore.

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Sept 7 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• APPROVES ISSUANCE OF FULLY CONVERTIBLE WARRANTS UP TO 1 BILLION RUPEES

Further company coverage: VISH.NS

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Vishnu Prakash R Punglia said its board would meet on 5 September 2026 to consider raising funds through preferentially issued warrants. The proposal remained subject to the board’s approval and to terms and conditions to be determined at the meeting. The notice did not state the proposed issue size, warrant price, allottees or use of proceeds. The company reported ₹851 crore of revenue from operations in FY26 and operated mainly as a government-focused construction and infrastructure contractor.

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Sept 1 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• BOARD TO CONSIDER FUNDRAISING VIA ISSUANCE OF WARRANTS ON PREFERENTIAL BASIS

Further company coverage: VISH.NS

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Promoter Vishnu Prakash Punglia released a pledge over 25,53,491 shares of Vishnu Prakash R Punglia Ltd, representing 2.05% of the company's share capital. The shares had been pledged in favour of Sidhpur Commodities Pvt Ltd, and the encumbered balance fell from 71,50,000 shares to 45,96,509 shares. The company had received roughly ₹200 crore in interest-free loans from promoters alongside repeated share pledges. Seven lakh promoter shares were invoked on 13 August, while the June quarter produced revenue of ₹137.9 crore and a ₹39.3 crore net loss, with the auditor flagging going-concern uncertainty linked to delayed receivables and a severe cash crunch.

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Vishnu Prakash Punglia, a promoter of Vishnu Prakash R Punglia, revoked a pledge involving 25,53,491 shares, or 2.05% of the company, on 21 August. The promoter's voting shareholding rose from 1,16,000 shares, or 0.09%, to 26,69,491 shares, or 2.14%, while the disclosure continued to show 71,50,000 shares, or 5.74%, as encumbered. His total holding after the transaction was listed at 98,19,491 shares, or 7.88% of the company's 12.4644 crore-share capital. The company had also recorded a separate pledge invocation involving 7 lakh shares, or 0.56% of capital, on 13 August, while FY26 revenue from operations was ₹851 crore.

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Vishnu Prakash R Punglia received a detailed Rajasthan High Court judgment on 19 August concerning North Western Railway’s termination of its Jaipur–Sawai Madhopur doubling contract. The judgment, pronounced on 17 August after being reserved on 21 July, directed the company to pursue an alternative remedy before the competent forum and maintained status quo for 45 days. With the performance guarantee and security deposit already encashed, the judgment carried no further financial implication as of 19 August. Vishnu Prakash planned to file a petition before the competent forum. The contract carried ₹9.96 crore of performance-guarantee and security exposure, while a separate Bikaner railway contract carried ₹19.95 crore of such exposure.

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Vishnu Prakash R Punglia received the Rajasthan High Court's detailed judgment in the VPRPL-KSIPL BKN joint venture's challenge to North Western Railway's termination of the Bikaner railway-station EPC contract. The court granted the joint venture liberty to pursue an appropriate remedy before the competent forum and ordered status quo for 30 days from the judgment's pronouncement on 17 August. It also barred encashment of the joint venture's bank guarantee for 45 days from that date. The company decided to file a petition before the competent forum. The Bikaner station contract carried ₹19.95 crore of performance-guarantee and security exposure.

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Aug 19 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• UPDATE ON TERMINATION NOTICE FROM NORTH WESTERN RAILWAY

• ENCASHMENT OF BANK GUARANTEE STAYED BY COURT FOR FURTHER PERIOD OF 45 DAYS

Source text: ID:nBSE4Dpy02

Further company coverage: VISH.NS

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Vishnu Prakash R Punglia recorded the invocation of 7 lakh shares pledged by promoter Vijay Punglia on 13 August 2026 under the terms of a financing agreement. The shares, representing 0.56% of total share capital, were encumbered in favour of Nidhi Castings and Alloys Private Limited. Vijay Punglia held 38.15 lakh shares, or 3.06%, while the number of his encumbered shares fell from 19 lakh to 12 lakh, or 0.96%, after the event. Revenue from operations was ₹851 crore in FY26, when the company recorded a ₹150.1 crore net loss. In Q1 FY27, revenue fell 50% year on year to ₹137.9 crore and the company posted a ₹39.3 crore net loss, while the limited-review report flagged material uncertainty relating to going concern.

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July 7 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VISHNU PRAKASH R PUNGLIA - TO CONSIDER FUND RAISING VIA PREFERENTIAL WARRANTS ON JULY 13, 2026

Source text: ID:nBSE912mZx

Further company coverage: VISH.NS

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June 30 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VISHNU PRAKASH R PUNGLIA - SARFARAZ AHMED RESIGNS AS CHIEF FINANCIAL OFFICER

• VISHNU PRAKASH R PUNGLIA - APPOINTS VINOD KUMAR PUNGLIYA AS CHIEF FINANCIAL OFFICER EFFECTIVE JULY 6, 2026

Source text: ID:nNSEbqqNbS

Further company coverage: VISH.NS

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Promoter Pushpa Pungalia of Vishnu Prakash R Punglia Ltd. had 3.2 million shares representing 2.57% of the company's equity invoked by her lender on June 3, 2026, according to a disclosure filed with stock exchanges. The invocation reduced her total pledged holdings from 3.4 million shares to just 200,000 shares, with her overall stake falling from 2.80% to 0.23% of the company. The lender action follows months of repeated promoter pledge creations citing margin shortfalls and liquidity needs. The company, with a market capitalisation of ₹330 crore, is already under severe financial strain, having reported an operating loss of ₹130 crore in Q4FY26 and a cash loss of ₹156 crore for the full fiscal year. CARE Ratings downgraded its bank facilities in April, moving them to the 'Issuer Not Cooperating' category. The invocation marks the first actual enforcement of pledged shares after several rounds of incremental pledges by the promoter group.

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CARE Ratings downgraded Vishnu Prakash R Punglia Ltd.'s long-term bank facilities to CARE BB-; Negative from CARE BB+; Negative and short-term facilities to CARE A4 from CARE A4+, moving the ratings to the 'Issuer Not Cooperating' category. The downgrade reflects a significant deterioration in the company's operating performance, with an operating loss of ₹130 crore in Q4FY26 and a cash loss of approximately ₹156 crore for the full fiscal year. The rating agency cited high working capital intensity, with collection days at 277 and inventory days at 305, as well as promoter pledge levels reaching 93% of holdings. The company explained that the non-cooperation classification is a technical outcome of its decision to switch rating agencies, having formally communicated non-acceptance of the previous review. Despite a healthy order book of ₹5,000 crore, slow project execution and delayed certifications have strained liquidity, with fund-based limit utilisation exceeding 90%.

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April 28 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• TO CONSIDER FUNDRAISING VIA EQUITY INSTRUMENTS

Source text: ID:nBSE3q01vL

Further company coverage: VISH.NS

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March 10 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VISHNU PRAKASH R PUNGLIA LTD - PROMOTERS INFUSE ABOUT 2.85 BILLION RUPEES INTEREST-FREE INTO COMPANY

Source text: ID:nNSE8ZbKkC

Further company coverage: VISH.NS

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July 9 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VISHNU PRAKASH R PUNGLIA - RECEIVES TAX ORDER

Source text: ID:nBSE2q3FLS

Further company coverage: VISH.NS

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April 22 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• GETS NOTICE ALLEGING INCOME OF 323.1 MILLION RUPEES ESCAPED TAX ASSESSMENT

Source text: ID:nNSE6xB0Jr

Further company coverage: VISH.NS

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March 25 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VISHNU PRAKASH R PUNGLIA LTD - SHOW CAUSE NOTICE RECEIVED FROM SEBI

• VISHNU PRAKASH R PUNGLIA LTD - SEBI INITIATES ADJUDICATION PROCEEDINGS FOR ALLEGED VIOLATIONS

Source text: ID:nNSE9nTsBk

Further company coverage: VISH.NS

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Jan 2 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VPRPL CHOSEN AS LOWEST BIDDER BY MINISTRY OF ROAD TRANSPORT AND HIGHWAYS

• PROJECT VALUE OF 433.10 MILLION RUPEES

Source text: ID:nNSE14l20j

Further company coverage: VISH.NS

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Jan 1 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VISHNU PRAKASH R PUNGLIA LTD - RECEIVES LOI WORTH 313.40 MILLION RUPEES

Source text: ID:nNSE2yBTss

Further company coverage: VISH.NS

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Dec 9 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• GETS ORDER WORTH 1.03 BILLION RUPEES

Source text: [ID:]

Further company coverage: VISH.NS

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Nov 8 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• VISHNU PRAKASH R PUNGLIA SEPT-QUARTER PROFIT 237.3 MILLION RUPEES

• VISHNU PRAKASH R PUNGLIA SEPT-QUARTER REVENUE FROM OPERATIONS 3.35 BILLION RUPEES

Further company coverage: VISH.NS

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** Shares of RPP Infra Projects RPPI.NS rise 5% to 186.5 rupees

** Construction co gets order worth 1.27 bln rupees ($15 mln) in joint venture with Surendra Infrastructure to improve roads in Maharashtra state

** Stock trading above its 200-day moving avg since June 5, indicating bullish sentiment

** RPPI up ~61% so far this year vs peer Vishnu Prakash R Punglia's VISH.NS ~28% rise

($1 = 84.0310 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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** Shares of Vishnu Prakash R Punglia VISH.NS rise 2% to 276 rupees

** Engineering co gets contract worth 1.61 billion rupees ($19.2 million) from North Western Railway, Jaipur for construction of a station

** VISH eyes fourth straight session of gains

** Busiest session for the stock in over a week; about 2.3 mln shares change hands, more than two times the 30-day avg

** Stock up ~28% so far this year vs a ~54% and ~6% rise in peers RPP Infra Projects RPPI.NS and Gayatri Projects GAPR.NS, respectively

($1 = 84.0500 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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Oct 10 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• GETS ORDER WORTH 1.61 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: VISH.NS

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** Shares of RPP Infra Projects RPPI.NS rise 3.1% to 183 rupees

** The construction co gets orders worth 3.19 bln rupees ($38.01 mln) for construction of pavement road and widening of bridges in Maharashtra

** Stock up ~58% so far this year

** YTD, peer Vishnu Prakash R Punglia VISH.NS up ~21%

($1 = 83.9250 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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Aug 9 (Reuters) - Vishnu Prakash R Punglia Ltd VISH.NS:

• GETS LETTER OF ACCEPTANCE FOR PROJECT VALUED AT 386.4 MILLION RUPEES

Further company coverage: VISH.NS

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** Shares of Vishnu Prakash R Punglia VISH.NS up 6.9% to 226.9 rupees, their highest since Feb. 7

** Engineering and construction co's JV secured letter of acceptance for tender worth 3.82 billion rupees ($45.64 million) from North Western Railway

** Co also won another 886.2 million rupees tender

** Shares see busiest day in 3 weeks, with over 4 million traded

** VISH, which debuted last year, has risen 13% so far in July, its best monthly gain ever

** VISH up 4.5% YTD

($1 = 83.6927 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Vishnu Prakash R Punglia VISH.NS rise around 7% to 208 rupees

** Engineering and construction co receives order worth 2.73 billion rupees ($32.7 million) related to a government's water supply project

** On Tuesday, VISH rose as much as 3.3% on a separate order win, before paring gains and closing 0.6% lower

** Stock up nearly 20% in June, set for its best month since listing in Sept. 2023

** VISH up around 25% since its market debut, mainly aided by multiple order wins

($1 = 83.4400 Indian rupees)

(Reporitng by Nishit Navin)

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