Sri Adhikari Brothers Television Network Limited has informed the Exchange regarding 'Appointment of CS Krina Gokulkumar Shah, Practicing Company Secretary, as the SecretarialAuditors of the Company for the term of 5 (five) consecutive years'.
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The Board of Sri Adhikari Brothers Television Network Limited approved three key items on August 14, 2025. First, unaudited financial results for Q1 FY26 (quarter ended June 30, 2025) were approved, showing standalone revenue from operations of just Rs. 3.47 lakhs (down sharply from Rs. 100 lakhs in Q1 FY25) and a net loss of Rs. 183.57 lakhs versus a small profit of Rs. 6.48 lakhs a year ago. Second, CS Krina Gokulkumar Shah was appointed as Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30), subject to shareholder approval. Third, the company will sell its 35.68% stake in subsidiary Westwind Realtors Private Limited (WRPL) to a related party, Sri Adhikari Brothers Assets Holding Private Limited (SABAHPL), for a total consideration of about Rs. 18.20 crores, with the deal closing on August 31, 2025 and WRPL ceasing to be a subsidiary.
Shareholders should note significant red flags: the auditor flagged a material going concern uncertainty given negative other equity, very weak operations, and current liabilities far exceeding current assets. The related-party sale of the subsidiary adds another wrinkle, though it was approved via postal ballot. Near-term, the stock may face pressure from the deep Q1 loss and going concern doubts, while the subsidiary sale provides some cash inflow.