VISA Steel has announced a board meeting to consider the financial results for the quarter and half-year.

The company reported a consolidated net loss of Rs 516.55 Cr for the year, hit by an impairment loss of Rs 438.08 Cr due to asset underutilization and project write-offs of Rs 38.75 Cr.

Debt restructuring is in progress, with 95% of lenders assigning dues to ACRE and interest waiver talks ongoing.

Despite fully eroded net worth and Rs 1,324.62 Cr of unpaid interest, the company is operating under going concern status.