How large is the GST dispute relative to the company?

The ₹22.12 crore dispute is 61% of Veer Global's net worth and nearly 10 times its current market capitalisation of ₹2.40 crore. It is pending before the High Court.

What was the scale of the financial decline in FY26?

Revenue fell 41% from ₹11.63 crore to ₹6.90 crore. Net profit dropped 11% from ₹1.81 crore to ₹1.61 crore.

What does the bank default involve?

The company defaulted on ₹90 lakh in borrowings from Bank of Baroda. This is separate from the much larger GST dispute.

Is this a large company?

No. With a market capitalisation of ₹2.40 crore, Veer Global is a nano-cap. Its GST liability dwarfs its entire market value.

Earnings · Real Estate · Micro cap

Veer Global's auditor flags ₹22 cr GST dispute and ₹90 lakh bank default

Annual revenue fell 41% to ₹6.90 crore. The GST dispute is now worth 61% of the company's net worth.

— 1 earlier story on Veer Global Infraconstruction Ltd. →

VGIL By Tipsheet Editorial 30 May 2026 · 5:54 PM IST Verify on BSE · NSE

Mkt cap₹232 cr

P/E143.53×

ROE5.25%

Debt / eq.0.49

₹22.12 cr GST dispute pending before the High Court, representing 61% of net worth.

What's new

Audited FY26 results show revenue down 41% to ₹6.90 cr, profit down 11% to ₹1.61 cr.
Auditor flagged a ₹22.12 cr GST dispute pending in the High Court and a ₹90 lakh default on Bank of Baroda borrowings.
The company's market capitalisation is ₹2.40 cr, making the dispute far larger than the entire business.

Why this matters

The GST dispute alone is nearly 10 times Veer Global's current market value and 61% of its net worth. A bank default adds immediate pressure. With revenue already shrinking, the company's financial position looks precarious.

What we're watching

High Court outcome on the ₹22.12 cr GST dispute.
Whether the Bank of Baroda default is resolved or escalates.
If revenue stabilises or continues to fall after the 41% drop.

The full read

Veer Global Infraconstruction's FY26 revenue fell 41% to ₹6.90 crore. Net profit slipped 11% to ₹1.61 crore. But the real number is the ₹22.12 crore GST dispute the auditor flagged, pending before the High Court and now worth 61% of net worth. The company's entire market capitalisation is ₹2.40 crore. The GST bill is nearly 10 times that. On top of the litigation, Veer Global also defaulted on ₹90 lakh in borrowings from Bank of Baroda. Revenue is shrinking, the court case is massive relative to the business, and a bank loan has already gone bad.

Questions answered

How large is the GST dispute relative to the company?: The ₹22.12 crore dispute is 61% of Veer Global's net worth and nearly 10 times its current market capitalisation of ₹2.40 crore. It is pending before the High Court.
What was the scale of the financial decline in FY26?: Revenue fell 41% from ₹11.63 crore to ₹6.90 crore. Net profit dropped 11% from ₹1.81 crore to ₹1.61 crore.
What does the bank default involve?: The company defaulted on ₹90 lakh in borrowings from Bank of Baroda. This is separate from the much larger GST dispute.
Is this a large company?: No. With a market capitalisation of ₹2.40 crore, Veer Global is a nano-cap. Its GST liability dwarfs its entire market value.

Mentioned: Bank of Baroda · ₹22.12 cr GST dispute · ₹90 lakh default

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

All notes on VGIL →

30 May 2026 · 5:54 PM IST Veer Global's auditor flags ₹22 cr GST dispute and ₹90 lakh bank default
today Veer Global gets BSE nod for preferential issue, weighs rights issue