Outcome of Board Meeting dated 29th May 2026
Awaiting price reaction for this filing.
Eros International Media Ltd reported a standalone net loss of ₹10,184 lakhs for FY2026 (vs loss of ₹1,017 lakhs in FY2025), with total income dropping significantly to ₹5,163 lakhs from ₹15,894 lakhs. The company's net worth has been completely eroded at negative ₹49,002 lakhs. The statutory auditor Haribhakti & Co. LLP issued a Qualified Opinion on standalone results and a Disclaimer of Opinion on consolidated results. Key concerns include: long overdue trade receivables of ₹28,438 lakhs (net of provisions) from group entities (Eros Worldwide FZE, Eros International UK, Eros International USA), SEBI investigation with ₹1,01,601 lakhs of content advances under scrutiny, and pending RBI approval for realizing export receivables. The company has appointed new auditors for internal, secretarial, and transfer pricing services. A material uncertainty exists regarding the company's ability to continue as a going concern, though management prepared accounts on that basis assuming successful monetization of film/music library and recovery of dues.
This is a highly distressed filing with negative net worth, massive losses, and auditors issuing qualified/disclaimer opinions. The stock faces significant risk due to ongoing SEBI investigations, eroded net worth, and material uncertainty over going concern. Shareholders should be extremely cautious given the combination of financial distress and regulatory scrutiny.