Videocon Industries Limited has announced its unaudited standalone financial results for the quarter ended June 30, 2024, marking another reporting milestone while the company continues under Corporate Insolvency Resolution Process (CIRP). The results were formally signed by Resolution Professional Abhijit Guhathakurta on February 10, 2026, and submitted to BSE and NSE under Regulation 33 of SEBI LODR Regulations.

Financial Performance Overview

The company's financial performance for Q1FY25 reflects the ongoing challenges faced during the insolvency proceedings:

Segment-wise Revenue Performance

Videocon Industries operates primarily in two business segments:

The Crude Oil and Natural Gas segment continues to be the primary revenue contributor, accounting for approximately 94% of total revenue from operations.

Corporate Insolvency Resolution Process Status

Videocon Industries Limited, along with 12 other Videocon group companies, has been undergoing consolidated CIRP since June 6, 2018. Key developments in the insolvency proceedings include:

• Initial CIRP Admission: NCLT Mumbai admitted the application under Section 7 of IBC on June 6, 2018
• Consolidation: NCLT allowed consolidation with 12 other group companies on August 8, 2019
• Current Resolution Professional: Abhijit Guhathakurta appointed on September 25, 2019
• Trading Suspension: Company securities suspended on BSE and NSE since June 16, 2021
• Supreme Court Status: Matter pending before Hon'ble Supreme Court with status quo maintained since February 14, 2022

Operational Challenges and Auditor Disclaimer

The company's auditors, GAMP & Co. Chartered Accountants, issued a disclaimer of conclusion for the Q1FY25 results due to several significant factors:

Key Audit Limitations:

• Non-availability of pre-CIRP records and supporting documentation
• Lack of cooperation from promoters and erstwhile management
• Resignation of key accounting personnel and previous auditor
• Ongoing investigations by government agencies including SFIO and Directorate of Enforcement
• Material uncertainty about the company's ability to continue as a going concern

Financial Reporting Constraints:

• Assets recorded at carrying values without revaluation or impairment assessment
• No additional provisions made on outstanding receivables
• Claims from creditors yet to be determined during CIRP process
• Limited manpower and operational challenges affecting financial reporting

Resolution Professional's Disclaimer

Resolution Professional Abhijit Guhathakurta has provided comprehensive disclaimers regarding the financial results, emphasizing that he assumed control only from September 27, 2019, and has no visibility into pre-CIRP matters. The RP has disclaimed liability for the accuracy, veracity, or completeness of data relating to periods prior to his appointment.

Key Financial Metrics

The results highlight the company's continued financial distress, with substantial finance costs of ₹21,640.58 million significantly impacting overall performance. The company maintains operations under CIRP while awaiting resolution of legal proceedings and finalization of the insolvency resolution process.

Videocon Industries Limited has formally notified stock exchanges about the upcoming 59th meeting of its consolidated Committee of Creditors, scheduled for March 18, 2026. The announcement was made through a regulatory filing under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Meeting Details and Scope

The consolidated Committee of Creditors meeting will encompass Videocon Industries Limited along with 12 other Videocon group companies, all operating under a unified corporate insolvency resolution process. The meeting will be conducted in accordance with Regulation 19 of the Insolvency and Bankruptcy Board of India regulations for corporate insolvency resolution.

Corporate Insolvency Resolution Background

Videocon Industries Limited has been operating under Corporate Insolvency Resolution Process following the NCLT order dated June 6, 2018. The process was further governed by subsequent orders dated August 8, 2019 and September 25, 2019, which established the framework for the consolidated resolution approach.

The Resolution Professional overseeing the proceedings is Abhijit Guhathakurta, who holds registration number IBBI/IPA-003/IP-N000103/2017-2018/11158. His AFA authorization (AA3/11158/02/311226/301350) remains valid until December 31, 2026.

Regulatory Compliance

The pre-facto intimation demonstrates the company's adherence to regulatory disclosure requirements under Schedule III, Part A, Clause A of SEBI's listing regulations. This notification ensures transparency for stakeholders and maintains compliance with statutory obligations during the insolvency resolution process.

Company Contact Information

Videocon Industries Limited maintains its registered office at 14KM Stone, Aurangabad-Paithan Road, Village Chittegaon, Taluka Paithan, District Aurangabad. The company's correspondence address is located at Mittal Court, Nariman Point, Mumbai, while the Resolution Professional can be contacted through Deloitte India Insolvency Professionals LLP in Mumbai.