As per Letter Attached.
Awaiting price reaction for this filing.
Esha Media Research reported FY25 revenue from operations of Rs. 316.39 lakhs, a sharp jump from Rs. 13.62 lakhs in FY24. However, total expenses ballooned to Rs. 418.74 lakhs, driven mainly by professional charges, employee costs, finance costs and a Rs. 258.22 lakhs tax provision (including Rs. 177.57 lakhs under the Direct Tax Vivad Se Vishwas Scheme). The company posted a loss after tax of Rs. 362.64 lakhs versus Rs. 9.14 lakhs a year earlier, with EPS at negative Rs. 4.65. Net worth is deeply negative at Rs. 1,092.36 lakhs, and the auditor flagged a material going concern uncertainty. A qualified opinion was issued over Rs. 769.68 lakhs of unverified interest-free loans from an ex-director and a member. Operating cash flow remained negative at Rs. 19.85 lakhs. The board also appointed M/s MSDS & Associates as Secretarial Auditor for five years starting FY25.
Negative for shareholders — losses widened sharply, net worth is eroded, the auditor has qualified the results and raised a going concern doubt, though promoters have pledged to fund shortfalls. Revenue growth is a silver lining, but the heavy tax hit and weak balance sheet make this a high-risk stock to hold.