As per Letter Attached.
Awaiting price reaction for this filing.
The Board of Esha Media Research approved unaudited financial results for the quarter and half year ended September 30, 2025. H1 FY26 revenue from operations stood at Rs 123.64 lakhs, down from Rs 153.04 lakhs in H1 FY25, while the loss before tax widened to Rs 74.21 lakhs (vs Rs 34.42 lakhs). The loss after tax for H1 FY26 was Rs 74.21 lakhs versus Rs 338.14 lakhs in H1 FY25, though the prior period included a one-time excess tax provision reversal of Rs 301.65 lakhs. Q2 FY26 revenue grew to Rs 70.04 lakhs from Rs 38.43 lakhs a year ago, and the company is in the process of a preferential issue of 10 lakh equity shares and 2.39 crore convertible warrants at Rs 15 each after authorised capital was raised to Rs 3,500 lakhs at an EGM on September 1, 2025. The statutory auditor issued a qualified conclusion on the results.
The company is in serious financial distress: net worth is fully eroded at negative Rs 1,166.57 lakhs, and current liabilities (Rs 1,250.64 lakhs) massively exceed current assets (Rs 42.66 lakhs), creating a going concern uncertainty flagged by the auditor. Shareholders face ongoing dilution from the preferential issue, though promoters have committed to fund shortfalls. Existing shareholders should expect continued losses and potential further equity dilution, and the stock remains high-risk.