We wish to inform you that the outcome of the board meeting held on 14th November,2025 for the financial results for the period ended September 30, 2025.
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Picturehouse Media's board approved its unaudited standalone and consolidated results for the quarter and half-year ended 30 September 2025, along with the appointment of Ms. Hemalatha Vijayakumar as Company Secretary & Compliance Officer. Standalone revenue from operations was negligible at Rs 1.67 lakhs for H1 (vs Rs 1.37 lakhs prior year), with a small net loss of Rs 2.75 lakhs (vs Rs 108.93 lakhs loss). Consolidated results showed a small net profit of Rs 7.38 lakhs (vs Rs 61.60 lakhs loss), but this was driven largely by a non-operational accounting gain of Rs 979.14 lakhs on loan remeasurement, not core business. The statutory auditor issued a qualified review report flagging three serious issues: Rs 2,862.56 lakhs of inventory advances to artists/co-producers that may not be recoverable, Rs 2,521.74 lakhs investment in subsidiary PVP Capital (whose NBFC registration was cancelled by RBI), and material doubt over the going concern assumption given a negative net worth of Rs 4,076.50 lakhs standalone and Rs 6,334.46 lakhs consolidated, continuous losses, and non-payment of statutory dues.
Multiple red flags for shareholders — qualified audit opinion, explicit going concern uncertainty, negative net worth, and negative operating cash flow (Rs 343+ lakhs used). The reported 'profit' is not from operations but from accounting remeasurement gains, so the underlying business remains deeply distressed with almost no revenue and a cancelled subsidiary NBFC license.