Viksit Engineering Limited (BSE Scrip Code: 506196), following the successful completion of its Corporate Insolvency Resolution Process (CIRP), has approved the audited standalone financial results for the fiscal year ended 31 March 2025. The Board of Directors, in their meeting held on 29 July 2025, reviewed and approved the financial statements along with the Independent Auditor’s Report issued by AKB Jain & Co., Chartered Accountants, which contained an unmodified opinion as per Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Insolvency Resolution Process and Management Change

The company was under CIRP following a petition filed by a financial creditor, M/s Epoch Mercantiles Private Limited, due to an unresolved financial debt of ₹1.19 crore. The Hon’ble National Company Law Tribunal (NCLT), Mumbai bench, initiated CIRP against the company on 8 December 2023, appointing Mr. Dinesh Kumar Deora as the Interim Resolution Professional (IRP).

Following due process, a resolution plan submitted by Mrs. Ruchika Chaturvedi and Mr. Kushal Chaturvedi as Successful Resolution Applicants was approved by the Committee of Creditors on 28 August 2024 and subsequently by the NCLT on 11 February 2025. The management and control were formally handed over to the new management as per the approved plan on 25 July 2025.

Financial Highlights for FY25

• Total Assets declined to ₹61.19 lakh from ₹217.18 lakh in the previous year, reflecting reduction in trade receivables and cash balances.

• Equity Share Capital remained stable at ₹24.90 lakh, while Other Equity showed a deepened negative balance of ₹(310.53) lakh due to accumulated losses.

• The company reported a net loss before tax of ₹184.40 lakh compared to ₹95.28 lakh in FY24, impacted by significant provisions for diminution in investment values.

• Earnings per share stood at a negative ₹74.10, reflecting the company’s ongoing challenges.

• The cash flow from operations improved to a positive ₹110.71 lakh, aided by better working capital management, despite overall net cash decrease for the year.

Auditor’s Report

AKB Jain & Co. conducted the audit in accordance with applicable auditing standards and confirmed that the financial results present a true and fair view of the company’s financial position. The auditor’s report was clean with no modifications, affirming compliance with all regulatory and accounting standards.

Outlook

With the CIRP behind, and a new management team at the helm, Viksit Engineering Limited aims to stabilize operations and return to growth. The approval of the audited results marks a key step in restoring investor confidence and transparency in its financial reporting.

About Viksit Engineering Limited:

Viksit Engineering Limited is a manufacturing company listed on the BSE, engaged in engineering activities with a focus on operational turnaround post the CIRP period. The company operates out of Mumbai, Maharashtra.

This announcement complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has been filed to keep investors informed of the company’s financial health and governance post insolvency resolution.

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