Diligent Media Corporation Limited has informed the Exchange regarding Appointment of Mr Chitresh Sehgal as Other of the company w.e.f. July 30, 2025.
DNAMEDIA · price
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Awaiting price reaction for this filing.
Diligent Media Corporation (operator of DNA news brand) announced several board decisions on July 30, 2025. Mr. Chitresh Sehgal has been appointed as Chief Executive Officer (Key Managerial Personnel) effective August 1, 2025. The company swung to a Q1 FY26 loss of Rs. 188.60 lakhs versus a profit of Rs. 245.26 lakhs in the same quarter last year, with revenue from operations dropping sharply to Rs. 78.67 lakhs from Rs. 296.30 lakhs year-on-year. The statutory auditor (MGB & Co. LLP) issued a limited review report with a modified opinion, and flagged a material uncertainty on going concern since accumulated losses have exceeded paid-up capital and reserves. The company is also engaged in arbitration with Veena Investments over Rs. 17,340.27 lakhs in inter-corporate deposits and a proposed set-off against Rs. 43,626.56 lakhs in preference shares held by Veena.
Negative near-term sentiment likely due to the sharp swing to losses, revenue decline, modified audit opinion, and going concern flag. CEO appointment is a neutral-to-positive leadership change, but shareholders should watch the arbitration outcome and the company's ability to scale its digital media business.