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1. At a Glance
Aqylon Nexus reported sales of ₹8.47 crore in the three months to June 2026. The same quarter a year earlier brought ₹0.03 crore. Screener’s percentage-change column printed 28,133% for the comparison. Operating profit was ₹4.91 crore, an operating margin of 57.97%. Operating margin is the share of sales left after the costs of running the business. Profit after tax was ₹4.26 crore. The company had lost ₹1.84 crore in the June 2025 quarter. It lost ₹7.99 crore in the March quarter immediately before this one. Earnings per share came to ₹0.17.
Until January 2026 the company was called Sri Adhikari Brothers Television Network. It emerged from insolvency resolution, changed hands and changed its name. It also amended its objects clause, the legal statement of what a company may do. The clause moved from television content to AI/ML software, SaaS and technology consulting. Licensing and computing infrastructure sit in it as well. The new clause reads like a conference agenda.
The record for the period also holds a two-year memorandum of understanding with the Government of Telangana. It covers a proposed 50 MW data-centre campus envisaging roughly ₹4,000 crore of investment. Beside it sit three separate acquisition proposals, one CFO resignation and one CFO appointment. A director, a secretarial auditor and an internal auditor were appointed. One secretarial auditor resigned. The board meeting of 4 August handled five of those items. It commenced at 2:00 P.M. and concluded at 2:20 P.M.
Market capitalisation stands at ₹640 crore. Book value per share is ₹-0.22.
2. Introduction
The company was incorporated on 19 December 1994 by Mr Gautam Adhikari and Mr Markand Adhikari. It was formed to take over the business of a partnership firm, Sri Adhikari Brothers. It produced and syndicated content for television, and listed on both exchanges.
For most of the last decade the profit and loss account told one story. Sales were ₹137.72 crore in FY17. They fell to ₹57.49 crore, then to ₹15.24 crore. In FY20 the revenue line was recorded as negative ₹1.14 crore. A negative revenue line is one of accounting’s quieter dramatic devices. A top line running backwards normally requires a time machine.
Then came the process. The resolution plan approved by the National Company Law Tribunal was fully implemented in May 2025. The insolvency resolution proceedings closed in September 2025. An open offer followed, which is the bid an incoming owner must make to existing shareholders. Management and control changed in November 2025. The renaming to Aqylon Nexus Ltd followed in January 2026.
In February 2026 shareholders approved an alteration of capital by postal ballot. The same ballot approved a 10-for-1 split, convertible promoter loans and enhanced borrowing powers. A chairperson was appointed through it as well. That ballot got through more corporate architecture than most companies attempt in a decade.
Depreciation is a useful marker of what the old company was. Depreciation is the yearly charge for the wearing out of assets a business owns. It ran at ₹19.48 crore in FY17. It was still ₹20.42 crore as late as FY23. In FY25 it was ₹0.15 crore. Whatever was being depreciated has gone, and what replaced it fits on a smaller schedule.
The registered office is still at Adhikari Chambers, Andheri West. The corporate email address on filings remains info.sriadhikari@gmail.com. That Gmail address has survived an insolvency, an open offer and a rebrand. It is now the official inbox of an artificial-intelligence company. Both the address and the inbox predate the change of control in November 2025.
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3. Business Model: WTF Do They Even Do?
Officially, the objects clause covers AI/ML software, SaaS and technology consulting. Licensing and computing infrastructure are in there as well. The clause covers essentially every noun in the sector.
Per its own disclosures and website, the company has announced the Aqylon AI Code Platform for AI-skilling programmes. It presents LLM routing, AI coding, call-centre automation and farm-management tools. GPU-as-a-Service, edge-AI chips and data-centre technologies also appear. That catalogue spans silicon at one end and crop management at the other. Edge-AI chips and farm-management tools are not neighbours on any normal org chart. Here they share a homepage.
The largest stated ambition is physical. Aqylon signed a two-year memorandum of understanding with the Government of Telangana. It covers a proposed 50 MW AI and hyperscale green data-centre campus. The proposal envisages investment of approximately ₹4,000 crore over about 20 acres at Fab City, Tukkuguda. The FY26 balance sheet total is ₹13.67 crore. The proposed campus is roughly 293 times the size of everything the company currently owns.
Other collaborations in the record include a memorandum with MBuzz Technologies for AI-ready data centres and cloud services. DataDirect Networks signed one for AI data platforms, and AITMC Ventures one for AI-skilling centres. A memorandum of understanding is corporate India’s engagement ring. It is real, signed, photographed and not yet a wedding.
Reporting structure is thin. The FY25 consolidated accounts included Westwind Realtors, which is 66.96% owned. Its financial contribution was immaterial. The board has approved formation of a
