Quadrant Televentures reported a net loss of ₹2,330.18 lakh for the financial year ended March 31, 2026, a significant reduction compared to the net loss of ₹27,629.67 lakh recorded in the previous year. Revenue from operations for FY26 stood at ₹20,953.45 lakh, down from ₹23,624.20 lakh in FY25. The company remains under the Corporate Insolvency Resolution Process (CIRP) initiated by the National Company Law Tribunal (NCLT) order dated September 2, 2025, which continues to cast material uncertainty on its ability to continue as a going concern.

Financial Performance

For the quarter ended March 31, 2026, the company reported a profit of ₹550.10 lakh, a reversal from the loss of ₹4,889.11 lakh in the corresponding quarter of the previous year. Total income for the quarter was ₹5,161.75 lakh. Total expenses for the full year decreased to ₹23,086.29 lakh from ₹37,872.95 lakh in the prior year. The company’s paid-up equity share capital remained constant at ₹6,122.60 lakh.

Audit Qualifications and Going Concern

Statutory auditors M/s. SGN & Co. issued a qualified opinion on the financial results. The report highlights that the company has incurred continuous losses leading to a complete erosion of net worth, with current liabilities exceeding current assets. Additionally, the company has defaulted on the repayment of borrowings. The auditors noted they were unable to obtain sufficient evidence regarding the appropriateness of the going concern basis of accounting due to ongoing uncertainties and pending legal outcomes related to the CIRP.

The audit report further disclosed that finance costs of ₹2,183.47 lakh for the quarter and ₹5,849.35 lakh for the year were not provided in the statement of profit and loss, citing the moratorium under Section 14 of the Insolvency and Bankruptcy Code. Had these costs been provided, the loss for the year would have been higher by ₹5,849.35 lakh. The auditors also stated that the potential impact of confidential CIRP proceedings on the financial results remains unascertained.

Insolvency Resolution Process

The Board of Directors' powers stand suspended, and management operations are being conducted by the Resolution Professional, Mr. Rajesh Jhunjhunwala. The CIRP timeline has been extended multiple times, and the Resolution Professional has invited Expressions of Interest (EOI) from prospective resolution applicants. Four resolution plans have been submitted and are currently under evaluation. The financial results have been taken on record by the Resolution Professional on May 30, 2026.

Quadrant Televentures Limited has submitted an updated Form-G for Expression of Interest to BSE Limited on February 22, 2026, extending key deadlines in its ongoing Corporate Insolvency Resolution Process. The company, operating under the Connect Broadband brand, continues its insolvency proceedings following the NCLT order dated September 2, 2025.

Extended Timeline for Expression of Interest

The Resolution Professional has extended all critical deadlines for the Expression of Interest process to provide additional time for prospective resolution applicants. The updated Form-G reflects significant extensions across all phases of the resolution process.

Company Financial and Operational Status

According to the updated Form-G disclosure, Quadrant Televentures Limited reported revenue of ₹273.97 crores for the financial year 2024-25, representing the last available financial statements on record. The company maintains significant operational presence with approximately 982 employees on roll and 240 outsourced personnel as of January 27, 2026.

Corporate Insolvency Resolution Process Framework

The company entered CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016, following the National Company Law Tribunal order on September 2, 2025. Mr. Rajesh Jhunjhunwala serves as the Resolution Professional with IBBI Registration No. IBBI/IPA-003/IPN00457-C01/2017-2018/11102.

Corporate Structure and Asset Location

Quadrant Televentures Limited operates telecommunications and broadband services with the majority of its fixed assets located in Punjab and adjoining areas. The company maintains its corporate office at B-71, Phase-VII, Industrial Focal Point, Mohali-160055, Punjab, while the registered office is situated at Flat no. 8, B-Type, Sadafuli Building, Tirupati Park, Gurusahani Nagar, N-4, CIDCO, Aurangabad, Maharashtra-431001.

The updated Form-G submission was made under Regulation 30 read with Clause 16(h) of Para A of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and was digitally signed by Company Secretary Umesh Prasad Srivastava on February 22, 2026.