Promoters of XL Energy Limited have confirmed that they did not create any fresh encumbrances on their shareholdings during the financial year 2025-26, apart from those already disclosed to the exchanges. The declaration was submitted to BSE Limited and the National Stock Exchange of India Limited in compliance with regulatory requirements. This disclosure ensures transparency regarding the pledging or hypothecation of promoter shares, which is a key indicator of financial stability for investors.

The intimation was filed by Karishma Jain on behalf of the promoters pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulation, 2011. The regulation mandates the disclosure of any encumbrance created by promoters on their shareholdings in the company. The confirmation covers the period of the financial year 2025-26 and explicitly states that no new encumbrances were made directly or indirectly.

Promoter Details

The declaration was submitted for and on behalf of the following promoter entities:

The document was digitally signed by Karishma Jain on April 09, 2026. The confirmation provides assurance to shareholders that the promoters' shareholding remains free from additional charges or liens during the specified period.

XL Energy Limited reported a net loss of ₹308.11 lakh for the financial year ended March 31, 2026, a significant decline from the profit of ₹15.94 lakh recorded in the previous year. The company’s total income for the year stood at ₹30.70 lakh, down from ₹56.26 lakh in FY25. The results were approved by the Monitoring Committee and the newly constituted board in a meeting held on May 30, 2026.

The statutory auditors, M/s. Pavuluri & Co., issued an audit report with an unmodified opinion on the financial results. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP), and a Monitoring Committee is supervising the implementation of the Resolution Plan approved by the National Company Law Tribunal (NCLT) on April 19, 2024.

Financial Performance

The company reported no revenue from operations for the quarter or the year ended March 31, 2026. Other income for the year decreased to ₹30.70 lakh from ₹56.26 lakh in the previous year. Total expenses for the year surged to ₹338.81 lakh, primarily driven by changes in inventories amounting to ₹252.51 lakh and other expenses of ₹85.37 lakh.

Resolution Plan and Capital Restructuring

Pursuant to the approved Resolution Plan, the company cancelled preference shares and the entire equity shareholding of existing promoters without consideration. The Successful Resolution Applicants were allotted 15,21,000 equity shares of ₹10 each. Additionally, 80,100 equity shares were issued to existing public shareholders to retain the company's listed status.

However, the implementation of the restructuring remains incomplete as of March 31, 2026. The National Stock Exchange has filed an appeal before the NCLAT challenging the NCLT order dated May 2, 2025, which directed the relisting of the company's shares. Consequently, the listing of shares on the stock exchanges remains pending.

Assets and Liabilities

The company’s balance sheet as of March 31, 2026, shows total assets of ₹3,441.94 lakh, a sharp increase from ₹1,071.22 lakh in the previous year. This rise is mainly due to inventories valued at ₹3,338.46 lakh. Equity and liabilities totaled ₹3,441.94 lakh, with borrowings constituting a significant portion at ₹75,068.84 lakh. Equity share capital reduced to ₹160.11 lakh from ₹2,277.44 lakh following the capital reduction.