VXL Instruments is down to ₹7.55 lakh in revenue. The auditor won't sign.
FY26 audited results show a net loss and negative net worth under insolvency. The only hope is NCLT sanctioning the resolution plan.
— 1 earlier story on VXL Instruments Ltd. →What's new
- Audited FY26 revenue: just ₹7.55 lakhs, with a net loss of ₹48.29 lakhs.
- Net worth turned negative at ₹5.31 crores.
- Statutory auditor issues disclaimer of opinion, citing missing confirmations and going-concern doubt.
Why this matters
The numbers confirm VXL Instruments is a non-operating shell. With staff gone and the auditor refusing a clean sign-off, the only lifeline is the resolution plan already approved by creditors but still waiting for NCLT approval.
What we're watching
- NCLT's ruling on the Committee of Creditors' resolution plan.
- Any move toward liquidation if the plan is rejected.
- Whether the company can retain its listing post-CIRP.
The full read
VXL Instruments' audited FY26 results are stark. Revenue of ₹7.55 lakhs. A net loss of ₹48.29 lakhs. Net worth at negative ₹5.31 crores. The statutory auditor refused a clean opinion, citing missing bank confirmations and material uncertainty over whether the company can survive. Most employees and key managerial personnel have left. The company is a shell awaiting a single event: NCLT sanctioning the resolution plan creditors already approved. That is the only path forward. The alternative is liquidation.
Questions answered
- What does the auditor's disclaimer mean for VXL Instruments?
- The disclaimer means the auditor could not verify the company's cash balances or affirm its ability to continue as a going concern. It is a severe qualification that signals the entity's survival is uncertain.
- How much revenue did the company generate in FY26?
- VXL Instruments reported operating revenue of just ₹7.55 lakhs for the year ended March 31, 2026.
- What is the current status of the insolvency process?
- The Committee of Creditors has approved a resolution plan. The plan now requires sanction from the National Company Law Tribunal to proceed.
- Why has the company's net worth turned negative?
- The net loss for the year eroded net worth to negative ₹5.31 crores, meaning its liabilities exceed its assets by that amount.
Story so far
All notes on VXLINSTR →- 29 May 2026 · 8:00 PM IST VXL Instruments is down to ₹7.55 lakh in revenue. The auditor won't sign.
- 1d ago VXL Instruments' creditors approve a lifeline. The tribunal still has to sign off.