In terms of Regulation 30 with Para A of schedule III and Regulation 33 of SEBI (LODR) Regulations, 2015, we hereby enclose the Un-Audited Financial results of the Company along with Limited ....
Awaiting price reaction for this filing.
Value Industries Ltd, part of the 13 Videocon group companies under consolidated Corporate Insolvency Resolution Process (CIRP) since September 2018, filed its delayed quarterly results for Q3 FY25 (quarter ended December 31, 2024). The company reported zero revenue from operations for Q3 FY25 and the nine-month period, down from Rs 5.64 million in the preceding quarter. It posted a loss before tax of Rs 730.36 million for the quarter and Rs 2,113.12 million for nine months, driven mainly by finance costs of Rs 690.52 million in Q3. The statutory auditor (GAMP & Co.) issued a Disclaimer of Conclusion, citing inability to verify pre-CIRP records, missing books of accounts, absence of a Company Secretary and CFO, non-cooperation from promoters, and pending investigations by SFIO and Enforcement Directorate. The auditor explicitly flagged a material uncertainty on the company's ability to continue as a going concern. Trading in the company's shares remains suspended on BSE and NSE since June 16, 2021.
For shareholders: the company remains under insolvency resolution with negative net worth, continued losses, suspended trading, and a going-concern uncertainty flagged by auditors. Recovery, if any, depends entirely on the outcome of the CIRP and pending Supreme Court proceedings on the Twin Star Technologies resolution plan.