Annual Report of the 64th Annual General Meeting of the Company to be held on September 26, 2025
Awaiting price reaction for this filing.
Lynx Machinery & Commercials Ltd has filed its 64th Annual Report ahead of the AGM scheduled for September 26, 2025 at 11:00 a.m. via video conferencing. The company's financial performance has worsened sharply — sales and other income slipped to Rs. 638.63 (hundreds) from Rs. 671.26, while expenditure jumped to Rs. 1.27 crore from Rs. 54.71 lakh, leading to a loss after tax of Rs. 1.27 crore in FY25 compared to Rs. 54.04 lakh in FY24. No dividend has been recommended due to the losses. The AGM will consider re-appointment of director Devang Jajodia and a special resolution to authorize the board to make investments and give loans up to Rs. 15 crore. The auditor has issued a qualified opinion relating to old trade receivables of about Rs. 24.45 lakh that are under litigation, including one case where the company lost in the City Civil Sessions Court Mumbai and has appealed in the High Court.
Shareholders should note that the company posted deeper losses for the second straight year and will not pay any dividend. The qualified auditor opinion on disputed trade receivables and the rising expenditure are red flags, although the board continues to prepare accounts on a going concern basis.