As per Letter Attached.
Awaiting price reaction for this filing.
Esha Media Research reported a weak Q3FY26 with revenue from operations falling to Rs. 50.85 lakhs versus Rs. 121.38 lakhs in the year-ago quarter, a drop of about 58%. For the nine months ended December 2025, revenue was Rs. 174.49 lakhs vs Rs. 274.42 lakhs earlier, with a loss after tax of Rs. 132.34 lakhs (PAT was negative Rs. 320.40 lakhs in 9MFY25). EPS for the quarter was Rs. (0.74). The auditor issued a qualified conclusion flagging old unsecured loans of Rs. 769.68 lakhs from an ex-director and a member, and separately highlighted a material going-concern uncertainty since net worth is fully eroded and current liabilities exceed current assets. The Board also noted the resignation of Independent Director Shishir Joshi and the appointment of Dimple Joshi in his place, while management relies on a new acquirer's open offer at Rs. 15/share and promoter funding support.
Shareholders face continued losses, a fully eroded net worth, and an explicit going-concern warning, although promoter funding commitment and the open offer price of Rs. 15/share provide some near-term support. The qualified audit report and unresolved old loans remain overhangs on the stock.