Outcome of Board Meeting held on December 12, 2025
Awaiting price reaction for this filing.
The board approved unaudited standalone and consolidated results for Q2/H1 FY26 ended September 30, 2025, along with limited review reports from statutory auditor Haribhakti & Co. LLP. Standalone H1 FY26 revenue from operations fell sharply to ₹1,414 lakhs from ₹3,079 lakhs in H1 FY25, while loss before tax widened to ₹3,599 lakhs (vs ₹1,165 lakhs loss in H1 FY25). Standalone net worth is fully eroded at negative ₹42,419 lakhs, and current liabilities (₹64,654 lakhs) far exceed current assets (₹23,984 lakhs). The auditor issued a Qualified Conclusion on standalone results and disclaimed conclusion entirely on consolidated results (unable to obtain sufficient evidence), citing long-overdue trade receivables from group entities, missing subsidiary financials, and ongoing SEBI and Enforcement Directorate investigations. The auditor explicitly flagged a 'Material Uncertainty Related to Going Concern' in both reports. The board also appointed Mr. Anand Shankar Kamtam and Mr. Vijay Gulab Chand as additional directors, while Mr. Sagar Sadhwani resigned citing personal reasons.
This is a deeply negative filing for shareholders: the company is loss-making with fully eroded standalone net worth, the auditor has disclaimed its consolidated review opinion, and a formal going-concern uncertainty has been flagged, alongside ongoing SEBI and ED scrutiny of ₹1,01,601 lakhs in content advances. Expect significant stock-price pressure and heightened insolvency and regulatory risk.