Disclosure Context

VXL Instruments Limited, under Corporate Insolvency Resolution Process (CIRP) since November 26, 2024, pursuant to NCLT Mumbai Bench order in CP (IB)/570(MB)/2024, has submitted its unaudited standalone financial results for the quarter and half year ended September 30, 2026. The Monitoring Committee meeting was held on November 5, 2026, from 5:30 PM to 8:30 PM to consider and take on record these financial results.

Financial Performance Summary (Unaudited)

Quarterly Performance (Q2 FY27 vs Q2 FY26 vs Q1 FY27)

  • Revenue from operations: ₹0.00 lakhs (Q2 FY27), ₹0.00 lakhs (Q1 FY27), ₹0.00 lakhs (Q2 FY25)
  • Other Income: ₹5.42 lakhs (Q2 FY27), ₹1.57 lakhs (Q1 FY27), ₹1.15 lakhs (Q2 FY25)
  • Total Revenue: ₹5.42 lakhs (Q2 FY27), ₹1.57 lakhs (Q1 FY27), ₹1.15 lakhs (Q2 FY25)
  • Total Expenses: ₹6.54 lakhs (Q2 FY27), ₹8.64 lakhs (Q1 FY27), ₹12.40 lakhs (Q2 FY25)
  • Finance Costs: ₹0.18 lakhs (Q2 FY27), ₹0.00 lakhs (Q1 FY27), ₹0.00 lakhs (Q2 FY25)
  • Other expenses: ₹6.36 lakhs (Q2 FY27), ₹8.64 lakhs (Q1 FY27), ₹11.75 lakhs (Q2 FY25)
  • Loss before tax: ₹(1.13) lakhs (Q2 FY27), ₹(7.07) lakhs (Q1 FY27), ₹(11.25) lakhs (Q2 FY25)
  • Loss for the period: ₹(1.13) lakhs (Q2 FY27), ₹(7.07) lakhs (Q1 FY27), ₹(11.25) lakhs (Q2 FY25)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from operations: ₹0.00 lakhs (H1 FY27), ₹7.55 lakhs (H1 FY25)
  • Other Income: ₹6.99 lakhs (H1 FY27), ₹7.94 lakhs (H1 FY25)
  • Total Revenue: ₹6.99 lakhs (H1 FY27), ₹15.49 lakhs (H1 FY25)
  • Total Expenses: ₹15.18 lakhs (H1 FY27), ₹33.25 lakhs (H1 FY25)
  • Loss before tax: ₹(8.20) lakhs (H1 FY27), ₹(17.76) lakhs (H1 FY25)
  • Loss for the period: ₹(8.20) lakhs (H1 FY27), ₹(17.76) lakhs (H1 FY25)

Annual Comparison (FY26 Audited)

  • Revenue from operations: ₹7.55 lakhs
  • Other Income: ₹16.24 lakhs
  • Total Revenue: ₹23.79 lakhs
  • Total Expenses: ₹50.34 lakhs
  • Exceptional items: ₹(21.75) lakhs
  • Loss before tax: ₹(48.29) lakhs
  • Loss for the period: ₹(48.29) lakhs

Earnings Per Share

  • Basic and Diluted EPS (continuing operations): ₹(0.01) for Q2 FY27, ₹(0.05) for Q1 FY27, ₹(0.08) for Q2 FY25
  • Basic and Diluted EPS (half year): ₹(0.06) for H1 FY27, ₹(0.13) for H1 FY25
  • Paid-up Equity Share Capital: ₹1,332.48 lakhs (13,324,800 shares of ₹10 each) across all periods

Balance Sheet Position (as at September 30, 2026 vs March 31, 2026)

Assets

  • Total Assets: ₹951.99 lakhs (Sep 2026) vs ₹350.59 lakhs (Mar 2026)
  • Non-current Assets: ₹26.66 lakhs (unchanged)
  • Other financial assets: ₹0.25 lakhs
  • Other non-current assets: ₹26.41 lakhs
  • Current Assets: ₹925.33 lakhs (Sep 2026) vs ₹323.93 lakhs (Mar 2026)
  • Trade receivables: ₹3.67 lakhs (unchanged)
  • Cash and cash equivalents: ₹1.87 lakhs vs ₹4.44 lakhs
  • Other bank balance: ₹801.36 lakhs vs ₹200.08 lakhs
  • Other current assets: ₹118.44 lakhs vs ₹115.74 lakhs

Equity and Liabilities

  • Total Equity: ₹(539.00) lakhs (Sep 2026) vs ₹(530.80) lakhs (Mar 2026)
  • Equity share capital: ₹1,333.59 lakhs (unchanged)
  • Other Equity: ₹(1,872.58) lakhs vs ₹(1,864.39) lakhs
  • Non-current Liabilities: ₹263.06 lakhs (unchanged)
  • Borrowings: ₹263.06 lakhs
  • Current Liabilities: ₹1,227.92 lakhs (Sep 2026) vs ₹618.32 lakhs (Mar 2026)
  • Borrowings: ₹20.19 lakhs (unchanged)
  • Trade payables: ₹157.81 lakhs vs ₹157.04 lakhs
  • Other financial liabilities: ₹892.72 lakhs vs ₹283.72 lakhs
  • Provisions: ₹89.79 lakhs vs ₹89.97 lakhs
  • Other current liabilities: ₹67.41 lakhs (unchanged)

Cash Flow Statement (Half Year Ended September 30, 2026 vs 2025)

  • Net loss before tax: ₹(8.20) lakhs (2026) vs ₹(17.76) lakhs (2025)
  • Net cash used in operating activities: ₹(9.55) lakhs (2026) vs ₹5.50 lakhs generated (2025)
  • Net cash from investing activities: ₹6.99 lakhs (2026) vs ₹7.60 lakhs (2025)
  • Net cash from financing activities: ₹(0.00) lakhs (2026) vs ₹0.00 lakhs (2025)
  • Net decrease in cash: ₹(2.57) lakhs (2026) vs ₹13.09 lakhs increase (2025)
  • Cash and cash equivalents at end: ₹1.87 lakhs (2026) vs ₹48.90 lakhs (2025)

Key Notes and Disclosures

1. Corporate Insolvency Resolution Process: The company has been under CIRP since November 26, 2024, pursuant to NCLT order. The resolution plan submitted by NG Organics Private Limited and Mr. Nitinbhai Govindbhai Patel was approved by NCLT on September 9, 2026.

2. Resolution Plan Implementation: The approved resolution plan contemplates merger of NG Organics with VXL Instruments, but requires implementation in accordance with Companies Act, 2013. The Successful Resolution Applicant has filed an application under Section 60(5) of IBC seeking approval of modified implementation clauses without altering financial or commercial terms. The entire consideration under the Resolution Plan has been funded.

3. Auditor's Disclaimer: YCRJ & Associates, Chartered Accountants, issued a disclaimer of conclusion stating they were neither provided with account statements nor able to obtain direct balance confirmations for one bank account with carrying value of ₹95,733 as of September 30, 2026. Consequently, they could not perform alternative audit procedures to verify existence, accuracy, and completeness of this balance, and are unable to comment on potential impact on the financial statements.

4. Accounting Standards: The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of Companies Act, 2013 and Regulation 33 of SEBI (LODR) Regulations, 2015.