Appointment of Secretarial Auditor for 5 (Five) Years commencing from FY 2025-26 to FY 2029-30.
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The board approved Q1 FY26 standalone results showing revenue from operations of just Rs. 1.14 lakhs and a small net loss of Rs. 2.48 lakhs, against a net profit of Rs. 218.56 lakhs in Q4 FY25. Consolidated results showed a marginal net profit of Rs. 1.71 lakhs on total income of Rs. 490.75 lakhs. The board also appointed M/s. D. Hanumanta Raju & Co. (Hyderabad) as Secretarial Auditor for a 5-year term from FY 2025-26 to FY 2029-30, subject to shareholder approval. The auditor's review report carries a qualified opinion, flagging serious concerns: standalone net worth is negative at Rs. 4,076.23 lakhs and consolidated net worth is negative at Rs. 6,340.17 lakhs, with material doubt on going concern status. Additionally, Rs. 2,862.56 lakhs of film production inventory lacks supporting evidence, and the Rs. 2,521.74 lakhs investment in wholly-owned subsidiary PVP Capital Limited is at risk — PVP Capital's NBFC registration was cancelled by RBI in November 2024 and the subsidiary has not appointed a Company Secretary or CFO, violating Section 203 of the Companies Act.
Despite the headline being a routine compliance appointment, the underlying financial results reveal severe distress — deeply negative net worth, going concern doubts, unverified inventory, and a troubled subsidiary with regulatory and governance lapses. Shareholders should view this filing as a significant red flag, not just a routine auditor appointment.