The Resolution Professional (RP) Committee meeting (in lieu of suspended Board of Directors) held on Friday, May 29, 2026 approved the Audited Financial Results along with Auditors report ....
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VXL Instruments Limited, currently under Corporate Insolvency Resolution Process (CIRP) since November 2024, has reported audited financial results for FY26. The company recorded near-zero revenue from operations (Rs. 0 lakhs vs Rs. 7.55 lakhs last year) with other income of Rs. 3.52 lakhs. The net loss for FY26 stands at Rs. 48.29 lakhs, significantly reduced from Rs. 652.51 lakhs loss in FY25. However, the balance sheet shows severe distress with negative net worth of Rs. 530.80 lakhs and total liabilities of Rs. 881.39 lakhs against assets of only Rs. 350.59 lakhs. Statutory auditors YCRJ & Associates have issued a Disclaimer of Opinion citing inability to verify a bank balance of Rs. 95,733 and raising substantial doubt about the company's ability to continue as a going concern.
The company is in severe financial distress with negative equity and is operating under insolvency proceedings. The disclaimer of audit opinion and going concern uncertainty are extremely negative signals for shareholders. However, a resolution plan has been approved by the Committee of Creditors and is pending NCLT approval, providing some hope for revival.