Videocon Industries Limited reported a net loss of ₹24,104.41 million for the quarter ended September 30, 2024, as the company continues to face significant financial challenges under the Corporate Insolvency Resolution Process (CIRP). The unaudited standalone financial results, signed by Resolution Professional Abhijit Guhathakurta on February 10, 2026, reveal a widening loss compared to the previous year's quarter, which stood at ₹20,311.54 million. Revenue from operations for Q2FY25 declined to ₹1,663.72 million from ₹1,695.87 million in the corresponding period of the previous year.

The financial results were submitted to the stock exchanges following a delay attributed to the resignation of key accounting personnel, non-availability of pre-CIRP records, and a lack of cooperation from promoters and erstwhile management. The company stated that the submission was inadvertently delayed due to operational constraints and limited manpower during the ongoing insolvency proceedings. Videocon Industries, along with 12 other group companies, is undergoing a consolidated CIRP under the Insolvency and Bankruptcy Code, 2016.

Financial Performance

The company’s total expenses for the quarter surged to ₹25,825.58 million, driven primarily by finance costs of ₹23,205.93 million. Depreciation and amortization expenses amounted to ₹1,318.97 million. The loss before tax for the quarter was reported at ₹24,104.41 million. For the half year ended September 30, 2024, the net loss widened to ₹46,502.76 million on a total income of ₹3,382.33 million.

Auditor’s Disclaimer

GAMP & Co., Chartered Accountants, issued a Limited Review Report with a disclaimer of opinion. The auditors stated they were unable to obtain sufficient appropriate audit evidence to provide a basis for their conclusion. Key reasons included the non-availability of pre-CIRP records, lack of cooperation from former management, and the inability to verify the existence, ownership, and valuation of assets such as property, plant, equipment, and investments. The auditors also noted that the company’s net worth is negative, casting material uncertainty on its ability to continue as a going concern.

Operational and Legal Status

The powers of the board of directors stand suspended and are vested with the Resolution Professional. Trading in the company’s securities has been suspended on BSE and NSE since June 16, 2021. The Resolution Professional has filed applications with the National Company Law Tribunal (NCLT) under Section 19 of the IBC seeking cooperation from promoters and erstwhile management to provide necessary data. The financial results have been prepared on a best-effort basis using available data.

Videocon Industries Limited has announced the scheduling of its 60th Committee of Creditors meeting as part of the ongoing consolidated corporate insolvency resolution process. The company issued a pre-facto intimation to stock exchanges regarding this significant development in its restructuring proceedings.

Meeting Details and Regulatory Compliance

The consolidated Committee of Creditors meeting is scheduled for Friday, April 17, 2026. This announcement was made in accordance with Regulation 30 (Schedule III, Part A, Clause A) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Insolvency Resolution Process Background

Videocon Industries Limited has been under Corporate Insolvency Resolution Process following an NCLT order dated June 6, 2018. The process was further governed by subsequent orders dated August 8, 2019, and September 25, 2019. The current proceedings involve a total of 13 Videocon group companies under a consolidated corporate insolvency resolution process.

Resolution Professional Details

The meeting will be conducted under the supervision of Abhijit Guhathakurta, who serves as the Resolution Professional for the 13 Videocon Group Companies. His credentials include:

• Registration Number: IBBI/IPA-003/IP-N000103/2017-2018/11158
• AFA Number: AA3/11158/02/311226/301350 (Valid till December 31, 2026)
• Affiliation: Deloitte India Insolvency Professionals LLP

Communication and Correspondence

The Resolution Professional has established multiple communication channels for stakeholders. The primary correspondence address is located at Deloitte India Insolvency Professionals LLP, One International Centre, Tower 3, 32nd Floor, Mumbai. Stakeholders are directed to send responses to the designated email addresses for efficient communication during the resolution process.

This pre-facto intimation represents a procedural requirement under the insolvency resolution framework, ensuring transparency and regulatory compliance throughout the restructuring process. The meeting will be conducted in accordance with the provisions of Regulation 19 of the Insolvency and Bankruptcy Board of India regulations for corporate insolvency resolution processes.