Videocon Industries Q2 Results Delayed, Company Cites Pending Audits And Insolvency Proceedings
· Free Press Journal
Mumbai: Videocon Industries Limited has informed stock exchanges that it will not be able to publish its unaudited financial results for the quarter ended September 30, 2026, within the prescribed deadline, citing pending financial statements and ongoing insolvency proceedings.
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In a regulatory filing submitted to the BSE and National Stock Exchange (NSE) on Wednesday, the company said its September quarter results were due by November 14, 2026, under SEBI's listing regulations.
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The company disclosed that its standalone and consolidated financial results for several previous quarters remain pending.
These include the quarters ended March 31, June 30, September 30 and December 31, 2025, as well as March 31, June 30 and September 30, 2026.
Videocon said it cannot finalise the September 2026 quarter results until the financial statements for the preceding quarters are completed and approved.
Audit Process
According to the filing, KVA & Co. completed its tenure following the audit for the financial year ended March 31, 2024.
The Committee of Creditors subsequently approved the appointment of GAMP & Co. as statutory auditor on July 22, 2025, for a five-year period covering April 1, 2024, to March 31, 2029.
The company said audits for FY 2024-25 and FY 2025-26 are currently under way and are expected to be completed in due course.
Insolvency Proceedings
Videocon Industries has been undergoing the corporate insolvency resolution process since June 6, 2018, following an application filed by State Bank of India before the National Company Law Tribunal (NCLT).
In August 2019, the NCLT ordered the consolidation of insolvency proceedings involving 13 Videocon Group companies.
The tribunal approved a resolution plan submitted by Twin Star Technologies in June 2021. However, the National Company Law Appellate Tribunal (NCLAT) subsequently set aside that approval in January 2022.
Twin Star challenged the appellate tribunal's decision before the Supreme Court.
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Videocon said the status quo in the consolidated insolvency proceedings continues to be maintained following the Supreme Court's oral remarks in February 2022.
The company added that preparation of earlier financial statements is under way and that it will endeavour to publish the pending results at the earliest possible opportunity.
The disclosure was signed by Abhijit Guhathakurta, resolution professional for the 13 Videocon Group companies.
Disclaimer: This report is based on Videocon Industries' regulatory filing and is intended for information purposes only, not investment advice.