Eros International Media Limited has informed the Exchange about change in Management
Awaiting price reaction for this filing.
Eros International Media Limited reported audited standalone net loss of ₹10,035 Lakhs for FY2026 with fully eroded net worth at negative ₹49,002 Lakhs. The statutory auditor Haribhakti & Co. LLP issued a Qualified Opinion on standalone financials and Disclaimer of Opinion on consolidated financials due to: (1) long overdue trade receivables of ₹28,438 Lakhs (net) from group entities including Eros Worldwide FZE, Eros International UK and Eros USA, (2) SEBI investigation into content advances of ₹1,01,601 Lakhs, and (3) one subsidiary excluded from consolidation due to non-availability of financials. The auditors flagged material uncertainty regarding going concern. The company appointed new internal auditor (Patni Mandhana & Associates), secretarial auditor (C R Bhagwat), and transfer pricing auditor (Walker Chandiok & Co. LLP) for FY2026-27. SEBI had passed interim and confirmatory orders in 2023, and the company has pending appeals. Enforcement Directorate also conducted search operations in February 2025.
The stock faces extreme financial distress with negative equity, ongoing SEBI investigations, disclaimer-level audit opinions, and going concern doubts. Any positive sentiment from the headline about management change is overshadowed by severe governance and financial health concerns. Shareholders should brace for potential delisting risk and regulatory actions.