Financial Results for the quarter and year ended 31, March 2026
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Reliance Communications reported a total income of Rs.230 crore for FY2026, down from Rs.278 crore in FY2025. The company posted a net loss of Rs.530 crore from continuing operations and Rs.9,158 crore from discontinued operations, with total comprehensive loss of Rs.9,688 crore. The company is under Corporate Insolvency Resolution Process (CIRP) since June 2019, managed by Resolution Professional Anish Nanavaty. The auditors (Pathak H.D. & Associates LLP) issued a QUALIFIED OPINION citing multiple non-compliances: non-determination of fair value of Assets Held for Sale (Rs.19,753 crore), non-provision of interest and forex losses totaling Rs.7,488 crore for the year, pending forensic audit irregularities, willful defaulter communications from banks, and ongoing ED/CBI investigations. Had these items been provided for, net worth would be lower by Rs.45,061 crore. The company's net worth is deeply negative at Rs.78,892 crore. The Board recommended appointment of M/s. E.A. Patil & Associates LLP as new statutory auditors.
This is a highly distressed filing with a qualified audit opinion, negative net worth of Rs.78,892 crore, and ongoing CIRP. The auditors explicitly state material uncertainty about the company's ability to continue as a going concern. Shareholders face extreme risk as the stock is already under insolvency proceedings.