Videocon Industries Limited reported a standalone net loss of ₹24,898.56 million for the quarter ended December 31, 2024, as the company continues to face significant operational and financial challenges under the Corporate Insolvency Resolution Process (CIRP). Revenue from operations for the quarter stood at ₹1,576.97 million, while total income was ₹1,628.17 million. For the nine months ended December 31, 2024, the net loss widened to ₹71,401.31 million on a total income of ₹5,010.50 million.

The financial results were signed by Resolution Professional Abhijit Guhathakurta on February 10, 2026, as the powers of the board of directors remain suspended under the Insolvency and Bankruptcy Code, 2016. The company attributed the delay in filing results to constraints such as limited manpower, non-availability of pre-CIRP records, and lack of cooperation from promoters. Trading in the company's securities has been suspended on BSE and NSE since June 16, 2021.

G A M P & Co., the statutory auditor, issued a disclaimer of opinion on the unaudited standalone financial results. The firm stated it was unable to obtain sufficient appropriate audit evidence to provide a basis for a conclusion. Key limitations included the absence of a complete Fixed Assets Register, non-availability of financial statements for subsidiaries and joint ventures, and lack of physical verification reports for inventories.

The auditor noted that the company has not adequately followed the provisions of Section 128 of the Companies Act, 2013, due to missing pre-CIRP records. Additionally, the results were prepared on a going concern basis, which is critically dependent on the outcome of the CIRP. The company’s net worth remains negative, and it continues to incur losses, creating material uncertainty about its ability to continue as a going concern.

Financial Performance Summary

Segment Performance

The company operates primarily in two segments: Consumer Electronics and Home Appliances, and Crude Oil and Natural Gas. For the quarter ended December 31, 2024, the Crude Oil and Natural Gas segment reported revenue of ₹1,480.99 million, while the Consumer Electronics segment reported ₹95.98 million. Segment results were aggregated and disclosed under unallocable items, with a reported loss before finance costs and tax of ₹874.94 million for the quarter.

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.