Viksit Engineering Limited is proceeding with the distribution of net sale proceeds from the open market sale of aggregated fractional entitlements. These fractional shares arose from the allotment of equity shares pursuant to the Resolution Plan approved on November 28, 2025, with a record date of May 23, 2025. The Trustee, nominated by the Board of Directors, is currently completing the sale of these shares at prevailing market prices in accordance with SEBI regulations.

The company stated that net proceeds, after the deduction of brokerage, statutory taxes, and other incidental expenses, will be distributed to eligible shareholders in proportion to their respective fractional entitlements. This distribution follows the implementation of the Resolution Plan and the consequent reduction of share capital. As the company lacked requisite Demat account details for certain shareholders, the equity shares were initially credited to respective Demat Suspense Escrow Accounts.

To ensure the seamless electronic transfer of proceeds, Viksit Engineering has requested eligible shareholders to provide valid Demat Account and Bank Account details, including IFSC and MICR information, to their Depository Participants or the company's Registrar and Share Transfer Agent, M/s. Sarthak Global Limited. Shareholders must complete these formalities at the earliest to receive the funds held in the escrow account.

The company has clarified that shares registered by July 2, 2023, and the corresponding financial statements, will be transferred to the Escrow Account in accordance with applicable SEBI Orders. Funds will be released to shareholders upon the completion of the necessary formalities. Shareholders seeking clarification or wishing to claim shares lying in the Demat Suspense Escrow Account have been advised to contact the company or its Registrar.

Viksit Engineering Limited appointed Ms. Muskan Dewani as Company Secretary and Compliance Officer effective May 28, 2026. The appointment was approved by the Board of Directors at a meeting held on the same day. Ms. Dewani is an Associate Company Secretary with experience in corporate secretarial, legal, and regulatory compliance matters under the Companies Act, 2013, Insolvency and Bankruptcy Code, 2016, and SEBI Regulations. She has no relationship with any of the directors or Key Managerial Personnel of the company.

The Board also approved the audited financial results for the year ended March 31, 2026. The company returned to profitability, posting a net profit of ₹10.92 lakh against a net loss of ₹184.51 lakh in the previous year. Revenue from operations stood at ₹41.09 lakh as the company resumed business activities following the implementation of a resolution plan under the Insolvency and Bankruptcy Code (IBC). Total expenses for the year were significantly lower at ₹20.03 lakh compared to ₹171.94 lakh in the previous year.

Implementation of Resolution Plan

The financial results follow the implementation of a resolution plan approved by the National Company Law Tribunal (NCLT), Mumbai Bench, on February 11, 2025. Pursuant to the plan, the existing equity share capital was cancelled and re-allotted. The Board approved the allotment of 2,37,500 fully paid-up equity shares to the successful resolution applicants on a preferential basis. Consequently, the paid-up equity share capital now comprises 2,50,000 equity shares of ₹10 each aggregating to ₹25,00,000.

Going Concern and Auditor’s Emphasis

The statutory auditors, AKB Jain & Co., issued an audit report with an unmodified opinion on the standalone financial results. However, they drew attention to the company's ability to continue as a going concern, noting that while net worth had been eroded and regular operations had not been carried out, the new promoters and management intend to revive operations. The financial results have been prepared on a going concern basis.

Key Financial Metrics

The following table summarizes the standalone financial results for Viksit Engineering Limited for the year ended March 31, 2026: