Audited Financial Results for the Quarter and Financial Year ended on 31 March, 2026 is enclosed.
NEXTMEDIA · price
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Next Mediaworks Limited reported a net loss of INR 528 Lacs for FY26, a sharp reversal from a profit of INR 394 Lacs in FY25. Total income was minimal at INR 56 Lacs, down from INR 20 Lacs in the prior year quarter. The company has no business operations, no operating cash flows, and no definitive business plans. Management has assessed that the company is no longer a going concern due to fully eroded net worth (negative equity of INR 3,536 Lacs) and uncertainty about repaying inter-corporate borrowings of INR 3,892 Lacs due in August 2027. An exceptional loss of INR 72 Lacs was recognized for impairment of GST Input Tax Credit. The auditor issued an unmodified opinion but included an Emphasis of Matter paragraph highlighting the going concern issue.
This is a critically negative development for shareholders. The company has ceased operations, has negative net worth, and the auditors themselves have flagged that it is not a going concern, indicating extreme financial distress and potential liquidation or restructuring ahead.