nikunj . schrieb:
Is there any way to hide/unhide a box in Lyx?
You can put your box into a branch and (de)activate this branch. For more infos, see the section about branches in the LyX UserGuide.
Also, can we draw circle in lyx itself and insert a text within it ?
This can only be done using LaTeX commands. But what you want are features for desktop publishing. LyX is not designed for desktop publishing, so when you want to create a flyer, poster, advertising brochure, etc. I recommend to use Scribus: http://www.scribus.net/
regards Uwe