Appointment of Chief Executive officer of the Company
DNAMEDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Directors appointed Mr. Priyadarshan Garg as Chief Executive Officer (designated as Key Managerial Personnel) effective June 1, 2026. He brings extensive experience from media organizations including Dainik Bhaskar Group, TV Today Network, UCWeb (Alibaba), Zee Entertainment Enterprises, and most recently Indiadotcom Digital. Concurrently, the company reported FY2026 loss before tax of Rs. 236.10 lakhs, a significant decline from Rs. 1,387.16 lakhs profit in FY2025. The company has negative net worth of Rs. 25,259.50 lakhs as at March 31, 2026. Auditors issued a qualified opinion citing uncertainty around intercorporate deposits (Rs. 17,340.27 lakhs) owed by Veena Investments and related NCRPS matter, while also flagging a material uncertainty regarding going concern. Deferred tax assets of Rs. 651.44 lakhs were reversed during the year.
The CEO appointment brings fresh leadership but the company faces severe financial stress with negative equity, auditor qualifications, ongoing SEBI scrutiny, and Rs. 6,856.37 lakhs in disputed GST demands. The stock may remain under pressure despite leadership change given the fundamental challenges.