Lynx Machinery and Commercials Limited announced its 65th Annual General Meeting will take place on September 29, 2026, at 11:00 am. The meeting is scheduled to be held through video conferencing or other audio-visual means without physical quorum.

The company will facilitate remote e-voting for all business items from September 26, 2026, at 9:00 am until September 28, 2026, at 5:00 pm. Shareholders can also vote electronically during the meeting if they have not cast their votes during the remote period.

Meeting and Voting Details

Eligibility to vote is determined by the shareholding status as on September 22, 2026. Members may attend the meeting via Microsoft Teams using the link provided in the official notice. Those who vote remotely cannot vote again during the live session.

The notice of the meeting and the annual report are available on the company website and the Bombay Stock Exchange portal. Queries regarding e-voting can be directed to the Central Depository Services (India) Limited helpdesk.

Lynx Machinery And Commercials Limited reported a widened net loss of ₹155.37 lakh for the financial year ended March 31, 2026, compared to a net loss of ₹126.86 lakh in the previous year, as zero revenue from operations and rising finance costs impacted its bottom line. For the quarter ended March 31, 2026, the company posted a net loss of ₹64.61 lakh, a significant increase from the loss of ₹36.04 lakh recorded in the corresponding quarter of the previous year. The statutory auditors issued a modified opinion on the financial results, highlighting that trade receivables aggregating to ₹21.34 lakh are old and under litigation, requiring provisions that the company has not made.

The financial performance was primarily driven by expenses, with total expenditure for FY26 rising to ₹156.16 lakh from ₹127.50 lakh in FY25. Finance costs constituted the largest expense component, increasing to ₹112.45 lakh in FY26 from ₹78.16 lakh in the prior year. Other expenses stood at ₹37.28 lakh, while employee benefit expenses were recorded at ₹5.60 lakh. The company reported no revenue from operations for the quarter or the year, relying solely on other income, which totaled ₹0.79 lakh for the full year.

Standalone Financial Results for FY26

Figures in ₹ Lakhs except EPS

Audit Qualification and Management Response

A. Patwari & Co., the statutory auditors, qualified their opinion stating that trade receivables aggregating to ₹21.34 lakh are old and under litigation. The auditors noted that the Hon'ble City Civil & Sessions Court, Greater Mumbai, has ordered the company to pay a sum to a trade debtor, making the recovery of the said amount doubtful, especially as the debt is barred by limitation. Consequently, the auditors asserted that trade receivables and other equity are overstated by ₹21.34 lakh, while the loss for the year is understated by the same amount.

In its response, the management stated that while the company lost the suit regarding the specific debtor, it has filed an appeal in the Honorable High Court of Mumbai. The company expressed hope of recovering the debt and is attempting to hold discussions with the concerned debtor to settle the issue. Based on this expectation, the management decided not to make a provision for bad debts in the accounts. The adjusted figures, accounting for the auditor's qualification, reflect a wider net loss of ₹176.72 lakh and a negative net worth of ₹204.79 lakh for FY26.

Balance Sheet and Cash Flow Highlights

The company's balance sheet size expanded to total assets of ₹1,663.98 lakh as of March 31, 2026, up from ₹1,255.61 lakh in the previous year. This increase was driven largely by other current assets, which rose to ₹1,552.22 lakh. However, shareholder's funds turned more negative, decreasing to a deficit of ₹183.44 lakh from a deficit of ₹28.07 lakh. Long-term borrowings increased significantly to ₹1,362.82 lakh, compared to ₹827.47 lakh in the prior year, indicating a reliance on debt to fund operations.

Cash flow from operating activities remained negative at ₹536.13 lakh for FY26, compared to a negative outflow of ₹142.13 lakh in FY25. The company generated cash inflows from financing activities amounting to ₹535.35 lakh, primarily through proceeds from borrowings, which helped offset the operational cash drain. Cash and cash equivalents at the end of the year stood at ₹1,825.09 ('00), a slight decrease from the previous year's closing balance.