Aqylon Nexus: FY26 Net Loss ₹7.99 Cr, Plans UAE AI Unit Amid Auditor Warning

Aqylon Nexus Ltd. reported its audited financial results for the fiscal year ending March 31, 2026, revealing revenue of ₹1,320.44 lakh and a net loss of ₹799.31 lakh. The company’s total equity turned negative, standing at ₹(567.79) lakh.

UAE Expansion Planned

Despite the financial challenges, the company's board approved the incorporation of a wholly-owned subsidiary in the UAE. This move is aimed at expanding Aqylon Nexus's AI and IT services into new international markets.

Auditor Flags Going Concern Uncertainty

Adding significant concern, the company's auditor has flagged a material uncertainty regarding its ability to continue as a going concern. This warning stems from accumulated losses and the resulting negative net worth, casting doubt on the company's future operations.

Strategic Pivot and Past Ambitions

Aqylon Nexus, formerly Sri Adhikari Brothers Television Network Limited, has been undergoing a strategic shift from its media roots towards technology sectors like AI and semiconductors. In late 2025, it announced ambitious plans including a ₹4,000 crore MoU with the Government of Telangana for an AI data center campus.

Ownership and Board Changes

In related developments, Director Sripal Reddy Molugu resigned effective April 10, 2026. The company also acknowledged a proposal from Energon Petroproducts Private Limited for a potential sale of its 100% shareholding, which could significantly alter the ownership structure. Recent shareholding shifts in March 2026 saw promoter Kurbhibhai Premjibhai Rupareliya sell a small stake while Leading Leasing Finance and Investment Company Limited increased its holding to 11.72%.

Competitive Environment

The company's pivot to AI and IT services places it in a highly competitive landscape. Peers like Capital Numbers, Trigma, and TechWize are established players offering similar solutions. However, Aqylon Nexus's immediate hurdle is its precarious financial health, a stark contrast to the stability of financially robust industry leaders.

Year-End Financial Snapshot

As of March 31, 2026, standalone revenue was ₹1,320.44 lakh, with a net loss of ₹799.31 lakh. The company's total equity was negative ₹567.79 lakh, against a paid-up equity share capital of ₹2,537.31 lakh.

What to Watch

Key developments to monitor include further disclosures on the proposed stake sale by Energon Petroproducts, progress and regulatory approvals for the UAE subsidiary, and any management strategies to address the going concern uncertainty and negative net worth. Market reaction and analyst views will also be important indicators.