In terms of Regulation 30 with Part 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, a Videocon Group company under Corporate Insolvency Resolution Process (CIRP) since September 2018, has finally filed its unaudited financial results for the quarter ended June 30, 2024 — nearly 19 months late, citing limited manpower, lack of pre-CIRP records and non-cooperation from promoters. Revenue from operations collapsed to just ₹0.52 million from ₹11 million in the same quarter a year earlier, and the company posted a loss of ₹682.23 million for the quarter, driven mainly by finance costs of ₹640.82 million. Other equity stands at a deeply negative ₹17,217.58 million, while basic and diluted EPS is at ₹(17.41). Trading in the company's shares has been suspended on BSE and NSE since June 16, 2021. The auditor issued a 'disclaimer of conclusion' (could not verify or confirm the numbers) and separately flagged a material uncertainty about the company's ability to continue as a going concern.
For shareholders, this confirms the company is in severe financial distress with virtually no operations, deeply negative net worth, and an unresolved insolvency process now stretching nearly eight years. Equity value is effectively wiped out, and any future recovery depends entirely on the outcome of the ongoing CIRP and an approved resolution plan by the Supreme Court.