As per Letter Attached.
Awaiting price reaction for this filing.
Esha Media Research Ltd (single segment: Media Monitoring) reported H1 FY26 revenue from operations of ₹123.64 lakhs, down from ₹153.04 lakhs in H1 FY25, though Q2 FY26 standalone revenue rose ~82% YoY to ₹70.04 lakhs. The company posted a loss before tax of ₹74.21 lakhs (vs ₹34.42 lakhs loss in H1 FY25) and loss after tax of ₹74.21 lakhs with negative EPS of ₹(0.95). Net worth is fully eroded at ₹(1,166.57) lakhs and current liabilities (₹1,250.64 lakhs) far exceed current assets (₹42.66 lakhs). Net cash used in operations was ₹(53.53) lakhs. The auditor (N. A. Shah Associates LLP) issued a qualified conclusion due to an old interest-free unsecured loan of ₹769.68 lakhs from an ex-director/member, and flagged material uncertainty on going concern. The board also noted ongoing regularization of past secretarial audit non-compliances and a ₹57.56 lakh BSE penalty (not provisioned, waiver applied for).
Negative for shareholders — company is loss-making, net worth is wiped out, going concern is doubtful, and auditor's report is qualified. A planned preferential issue (10 lakh shares + 2.39 crore warrants at ₹15) may bring in funds but also dilutes existing holders; near-term stock price sentiment is likely to remain weak until loan waivers and fund infusion materialize.