Appointment of Secretarial Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Picturehouse Media's board approved FY25 audited results showing a net profit of Rs. 80.69 lakhs versus a loss of Rs. 122.17 lakhs last year, but the profit came entirely from a one-time Rs. 543.27 lakh gain on remeasuring related-party borrowings, not from operations. Revenue from operations actually fell sharply to Rs. 3.49 lakhs from Rs. 49.40 lakhs, while the company carries a negative net worth of Rs. (4,073.75) lakhs standalone and Rs. (6,342.88) lakhs consolidated. The auditor (R P S V & Co.) issued a qualified opinion for the seventh consecutive year, flagging doubts over Rs. 2,956.52 lakhs of film production inventory, the carrying value of its Rs. 2,521.74 lakh investment in subsidiary PVP Capital (whose NBFC registration was cancelled by the RBI), and material uncertainty on going concern. The board also appointed D. Hanumanta Raju & Associates as Secretarial Auditor and Phanindra & Associates as Internal Auditor.
This is a serious red flag for shareholders — the company is operationally unprofitable, has negative net worth, unpaid statutory dues, and a subsidiary whose NBFC license was revoked, while auditors have qualified the accounts for the seventh straight year. The reported 'profit' is purely an accounting one-time gain and not reflective of business health; expect continued stock price pressure and elevated risk.