According to the latest company announcement, Viksit Engineering Limited has appointed Ms. Muskan Dewani as Company Secretary and Compliance Officer effective May 28, 2026. The appointment was approved by the Board of Directors at a meeting held on the same day. Ms. Dewani brings extensive experience in corporate secretarial, legal, and regulatory compliance matters under the Companies Act, 2013, Insolvency and Bankruptcy Code, 2016, and SEBI Regulations. She has no relationship with any of the directors or Key Managerial Personnel of the company.
The company reported a significant financial turnaround for the year ended March 31, 2026, posting a net profit of ₹10.92 lakh compared to a net loss of ₹184.51 lakh in the previous year. As per the latest financial results, revenue from operations stood at ₹41.09 lakh as the company resumed business activities following the implementation of a resolution plan under the Insolvency and Bankruptcy Code (IBC). The financial results follow the implementation of a resolution plan approved by the National Company Law Tribunal (NCLT), Mumbai Bench, on February 11, 2025. The Board approved the allotment of 2,37,500 fully paid-up equity shares to the successful resolution applicants on a preferential basis, with the paid-up equity share capital now comprising 2,50,000 equity shares of ₹10 each aggregating to ₹25,00,000.
The company demonstrated improved operational efficiency with total expenses for the year significantly lower at ₹20.03 lakh compared to ₹171.94 lakh in the previous year. The statutory auditors, AKB Jain & Co., issued an audit report with an unmodified opinion on the standalone financial results. However, they drew attention to the company's ability to continue as a going concern, noting that while net worth had been eroded and regular operations had not been carried out, the new promoters and management intend to revive operations. The financial results have been prepared on a going concern basis, reflecting the company's recovery trajectory.
