VXL Instruments Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP) pursuant to the order of Hon'ble NCLT, Mumbai Bench passed on November 26, 2024 (received on December 2, 2024), has disclosed its unaudited standalone financial results for the quarter ended June 30, 2026.
The Resolution Professional (RP) committee meeting (in lieu of suspended Board of Directors) was held on August 7, 2026, from 2:30 PM to 3:45 PM, where the unaudited financial results were taken on record.
Financial Performance (Quarter Ended June 30, 2026)
- Revenue from operations: ₹0.00 lakh (compared to ₹7.55 lakh in Q1 FY26 and ₹7.55 lakh in FY26)
- Other income: ₹1.57 lakh (compared to ₹6.79 lakh in Q1 FY26 and ₹16.24 lakh in FY26)
- Total revenue: ₹1.57 lakh (compared to ₹14.34 lakh in Q1 FY26 and ₹23.79 lakh in FY26)
- Total expenses: ₹8.64 lakh (including other expenses of ₹8.64 lakh and finance costs of ₹0.00 lakh)
- Loss before tax: ₹(7.07) lakh (compared to ₹(6.51) lakh in Q1 FY26 and ₹(48.29) lakh in FY26)
- Loss for the period: ₹(7.07) lakh (compared to ₹(6.51) lakh in Q1 FY26 and ₹(48.29) lakh in FY26)
- Total comprehensive income: ₹(7.07) lakh
- Paid-up equity share capital: ₹1332.48 lakh (face value ₹10 each)
- Earnings per share (basic and diluted): ₹(0.05) per share
Corporate Insolvency Resolution Process Context
The company has been under CIRP since November 26, 2024, with affairs supervised by the Resolution Professional from the commencement date. The financial results relate to the quarter ended June 30, 2026, under CIRP. The suspended directors signed the financial statements with express consent of the Resolution Professional.
Auditor's Limited Review Report
YCRJ & Associates, Chartered Accountants (Firm Reg: 0069275), issued a limited review report with disclaimer of conclusion due to:
1. Inability to verify bank account balance of ₹95,733 included under "Cash and Cash Equivalents" as they were not provided account statements or able to obtain direct balance confirmations
2. Material uncertainty regarding going concern as the company has incurred losses, faces challenges meeting obligations including current liabilities, employee dues and statutory dues, and has lost majority of employees including Key Managerial Personnel
3. The resolution plan has been approved by Committee of Creditors but is pending NCLT approval, with financial impact not ascertainable as the detailed plan was not made available to auditors
The auditors noted that figures for 3 months ended March 31, 2026, are balancing figures between audited full-year previous financial year and published year-to-date figures up to the third quarter of previous financial year.