VXL Instruments Limited has informed the Exchange regarding the Post Facto Intimation of the Resolution Professional (RP) Committee meeting (in lieu of suspended Board of Directors) Under ....
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Awaiting price reaction for this filing.
VXL Instruments, currently under Corporate Insolvency Resolution Process (CIRP) since November 2024, reported audited FY25 results signed by the Resolution Professional. Revenue from operations collapsed to Rs. 66.37 lakhs from Rs. 771.20 lakhs in FY24, an over 90% decline. The company posted a loss before tax of Rs. 652.51 lakhs, sharply wider than Rs. 258.02 lakhs in the prior year, including a Rs. 554.69 lakh exceptional charge from the write-off of overseas trade receivables. Total equity turned negative at Rs. (482.51) lakhs versus positive Rs. 170 lakhs a year ago, and total liabilities of Rs. 1,589 lakhs now exceed total assets of Rs. 1,107 lakhs. The auditor (YCRJ & Associates) issued a Disclaimer of Opinion, citing inability to verify bank balances, inventory, PPE, GST credits, FEMA non-compliance on the Rs. 5.63 crore overseas write-off and Rs. 3.48 crore payable set-off, and flagged a material going concern doubt with most employees and KMP having left.
This is a deeply negative filing for shareholders: revenue has nearly dried up, losses are accelerating, net worth is now negative, and the auditor has disclaimed the results while raising going concern doubts. The company is in active insolvency resolution, so equity value depends entirely on the outcome of the CIRP process and any resolution plan; trading in the stock is highly speculative and risky.