Outcome of Board Meeting held on July 31, 2025
Awaiting price reaction for this filing.
Eros International Media's board approved its delayed Q2 FY25 and H1 FY25 results (for the period ended September 30, 2024) — roughly 10 months late. On a standalone basis, revenue from operations fell sharply to ₹1,161 lakhs in Q2 FY25 from ₹3,572 lakhs in Q2 FY24, a drop of about 67% year-on-year. Standalone net worth has been fully eroded and the company has defaulted on statutory dues. The auditor (Haribhakti & Co. LLP) issued a qualified conclusion on the standalone results, citing long-overdue receivables from group entities, ongoing SEBI and Enforcement Directorate investigations, and a material uncertainty around the going concern assumption. On a consolidated basis, the company reported a profit of ₹13,787 lakhs for H1 FY25, but this was almost entirely driven by a one-time reversal of an impairment loss of ₹15,431 lakhs from a foreign subsidiary and a ₹2,303 lakh gain on sale of office premises.
This is a high-risk filing for shareholders — the company has essentially negative standalone net worth, SEBI and Enforcement Directorate cases are unresolved, and the auditor has flagged a going concern doubt. The apparent consolidated 'profit' is misleading because it is propped up by a non-recurring impairment reversal rather than core business performance; investors should treat these results with extreme caution.