SKIL Infrastructure FY25 loss widens to ₹3,052 crore

What the exchange filing says

SKIL Infrastructure Limited has updated stock exchanges through a post facto intimation related to the eighth Committee of Creditors (CoC) meeting, while also disclosing key developments tied to its ongoing Corporate Insolvency Resolution Process (CIRP). The company remains under CIRP following admission by the NCLT, Mumbai Bench under Section 7 of the Insolvency and Bankruptcy Code (IBC). With the Board of Directors suspended, core governance and disclosures are being handled through the Resolution Professional (RP) framework and RP Committee approvals.

The recent disclosures also sit alongside the company’s annual financial results for the year ended March 31, 2025. Those results reflect a sharp swing in profitability and come with a qualified audit opinion, highlighting verification and going concern-related challenges that are common in insolvency-led financial reporting.

FY25 financial outcome: sharp swing into losses

For FY25, SKIL Infrastructure reported a standalone net loss of ₹3,052.42 crore, compared with a standalone net profit of ₹8.88 crore in the previous year. The company attributed the FY25 deterioration to exceptional items and the impact of insolvency proceedings.

On the consolidated side, the company reported a consolidated net loss attributable to owners of ₹2,596.84 crore for the year ended March 31, 2025. The disclosures indicate that the results were approved by the Resolution Professional (RP) Committee in its meeting held on July 29, 2026, in place of the suspended Board.

Qualified audit opinion: what was highlighted

The statutory auditors issued a qualified opinion on the company’s financial statements. The issues cited in the filing include:

• Unverified CIRP-related claims, where the status of claim verification impacts the completeness and certainty of reported balances.
• Going concern uncertainties, reflecting the company’s status under CIRP and the dependence on resolution outcomes.
• Discrepancies with subsidiary balances, which can arise from reconciliation gaps and constrained access to supporting data during insolvency.

These audit remarks are significant because they frame how investors and creditors should interpret the FY25 numbers. Under CIRP, management control is suspended and records, confirmations, and reconciliations can be harder to complete within typical reporting timelines.

CIRP status and key legal milestones

The company’s CIRP commenced after the NCLT, Mumbai Bench admitted SKIL Infrastructure on February 1, 2024. Mr. Purusottam Behera was appointed as the Interim Resolution Professional (IRP).

An appeal was filed before the NCLAT, and the constitution of the CoC was stayed on February 12, 2024. This stay was later vacated on October 15, 2025, and the appeal was allowed to be withdrawn. Following this, the CoC was constituted and approved by the NCLT.

In the first CoC meeting held on November 3, 2025, Mr. Purusottam Behera was approved as the Resolution Professional (RP).

Post facto intimation: eighth CoC meeting details

SKIL Infrastructure disclosed that the eighth CoC meeting was held on July 24, 2026, through online mode. The meeting took place from 3:00 PM to 4:15 PM. The company stated that this disclosure was submitted as per SEBI requirements.

The exchange communication positions the meeting as part of the ongoing resolution process, where the CoC continues to review the status of the insolvency and steps required for progressing towards a resolution plan.

CoC meeting trail in 2026: key operational markers

The company has also disclosed details of multiple CoC meetings conducted through virtual mode:

• Third CoC meeting: held on January 14, 2026, postponed from January 13, conducted under the supervision of the RP, and ran from 11:00 AM to 1:00 PM.
• Fourth CoC meeting: held on March 5, 2026, from 5:00 PM to 5:35 PM. CoC members approved a two-week extension for resolution plan submissions to March 20, 2026, with an earnest money deposit (EMD) requirement of ₹5.00 crore.
• Fifth CoC meeting: held on April 8, 2026, from 11:00 AM to 12:30 PM, through audio-visual virtual mode.

These meeting disclosures indicate that the CoC continued to review timelines and operational steps during the resolution process, including extensions sought by prospective resolution applicants.

Resolution plan process: EOIs, Form G, and plan submissions

As part of the resolution process, SKIL Infrastructure issued a fresh invitation for Expressions of Interest (EOI) via Form G dated May 1, 2026, with a submission deadline of May 16, 2026. The company stated that the CoC approved the fresh Form G at its fifth meeting on April 8, 2026.

The filing also noted key dates related to the plan process, including:

• Last date for submission of resolution plan: June 27, 2026
• Last date of CIRP (as stated in the filing): July 1, 2026

Separately, the company disclosed that the RP received seven resolution plans from various resolution applicants, with the submission deadline being June 27, 2026.

Compliance disruptions during CIRP

SKIL Infrastructure informed exchanges that it could not submit certain quarterly compliance certificates for the quarter ended June 30, 2026, including the shareholding pattern, audit report, and investor complaints statement. The stated reason was that NSDL, CDSL, and the company’s RTA stopped providing beneficiary data due to non-payment of outstanding fees by the erstwhile management.

The company also disclosed non-submission of:

• Shareholding pattern for the quarter and year ended March 31, 2026 (Regulation 31)
• Q3FY26 governance report, citing the ongoing CIRP
• Disclosure of encumbered shares for FY26, citing CIRP and lack of funds

These statements underline how insolvency can disrupt routine reporting, particularly when service providers suspend support due to pending dues.

Key facts at a glance

Market impact and why the disclosures matter

The FY25 loss figure is large enough to materially reshape how the market views the company’s balance sheet and recoverability, especially when paired with a qualified audit opinion referencing claim verification and going concern uncertainty. In practice, such qualifications can affect comparability of financial statements and raise the importance of resolution outcomes in interpreting enterprise value.

The series of CoC meeting disclosures and the receipt of seven resolution plans indicate process movement, but the company’s repeated inability to file routine SEBI disclosures highlights operational constraints under CIRP. For public market investors, these constraints can reduce visibility on shareholding and governance metrics, even when the company continues to provide insolvency-related updates through the RP.

Conclusion

SKIL Infrastructure’s FY25 results, qualified audit opinion, and ongoing CoC activity collectively show a company operating under significant insolvency-driven constraints. The eighth CoC meeting held on July 24, 2026 and the RP Committee’s approval of results on July 29, 2026 form the latest formal milestones disclosed to exchanges. The next key reference points remain the handling of submitted resolution plans and the CIRP timelines cited in the company’s filings.