VXL Instruments reports FY26 loss of ₹48.29 lakh
VXL Instruments Limited's Resolution Professional approved the audited financial results for the year ended March 31, 2026, reporting a net loss of ₹48.29 lakh. The company recorded no revenue from operations, while total expenses fell to ₹50.34 lakh. Statutory auditors issued a disclaimer of opinion due to a lack of evidence for bank balances and highlighted material uncertainty regarding the company's ability to continue as a going concern, pending NCLT approval of the resolution plan.
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VXL Instruments Limited reported a net loss of ₹48.29 lakh for the financial year ended March 31, 2026, as its audited financial results were approved by the Resolution Professional on May 29, 2026. The company, currently undergoing the Corporate Insolvency Resolution Process (CIRP), recorded zero revenue from operations for the year, compared to ₹66.37 lakh in the previous year. The total comprehensive loss for the period stood at ₹48.29 lakh.
The meeting was convened by the Resolution Professional, Jayanti Lal Jain, in lieu of the suspended Board of Directors, pursuant to the Insolvency and Bankruptcy Code, 2016. The powers of the Board and various committees have been assumed by the Resolution Professional following the order by the Hon’ble National Company Law Tribunal, Mumbai Bench, on November 26, 2024. The intimation regarding the meeting was submitted to the stock exchanges under Regulation 30 and 33 of the SEBI (LODR) Regulations, 2015.
Financial Performance
The company’s financial results for the year ended March 31, 2026, reflect the ongoing operational challenges. Total revenue decreased to ₹23.79 lakh from ₹82.04 lakh in the previous year. Other income contributed ₹16.24 lakh to the total revenue. Total expenses for the year were ₹50.34 lakh, significantly lower than the ₹179.86 lakh reported in the prior year, primarily due to the absence of material costs and employee benefit expenses.
| Metric | FY26 (₹ in lakhs) | FY25 (₹ in lakhs) |
|---|---|---|
| Total Revenue | 23.79 | 82.04 |
| Total Expenses | 50.34 | 179.86 |
| Net Profit/(Loss) | (48.29) | (652.51) |
| Equity Share Capital | 1332.48 | 1332.48 |
| Basic EPS | (0.04) | (4.90) |
Auditor’s Report and Going Concern
YCRJ & Associates, the statutory auditors, issued a disclaimer of opinion on the financial results. The auditors stated they could not obtain sufficient appropriate audit evidence, specifically regarding the existence and accuracy of a bank balance of ₹95,733 included in cash and cash equivalents, as account statements and confirmations were not provided. Consequently, the auditors were unable to quantify the potential impact of any misstatements.
Furthermore, the auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern. The company has incurred losses in the current and previous years and faces difficulties in meeting liabilities, with a majority of employees, including Key Managerial Personnel, having left. The financial statements have been prepared on a going concern basis based on the expectation of a successful resolution process, which has been approved by the Committee of Creditors and is pending approval before the National Company Law Tribunal (NCLT).
Historical Stock Returns for VXL Instruments
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.63% | -2.52% | -4.92% | +16.60% | -43.30% | -29.61% |
What is the expected timeline for the National Company Law Tribunal (NCLT) to approve the resolution plan submitted by the Committee of Creditors?
How will the company address the auditor's disclaimer of opinion regarding the unverified bank balance of ₹95,733?
What strategies does the Resolution Professional intend to employ to restart operations and generate revenue given the loss of Key Managerial Personnel?
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