Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors at their Meeting held on August ....
Awaiting price reaction for this filing.
Esha Media Research Ltd's Board approved unaudited standalone financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations stood at Rs. 53.60 lakhs, down sharply from Rs. 114.61 lakhs in the same quarter last year — a drop of over 50%. The company posted a loss after tax of Rs. 40.70 lakhs versus a profit of Rs. 34.81 lakhs in Q1 FY25, with EPS at Rs. (0.52). The auditor (N.A. Shah Associates LLP) issued a qualified conclusion citing an outstanding interest-free unsecured loan of Rs. 769.68 lakhs from an ex-director and a member, where ageing details are not available and waivers are being negotiated. The auditor also flagged material uncertainty on going concern because the company's net worth is fully eroded and current liabilities exceed current assets, though promoters have committed to fund any shortfalls. Additionally, the Board has approved increasing authorised share capital from Rs. 1,300 lakhs to Rs. 3,500 lakhs to enable a preferential issue of 10 lakh equity shares and 2.39 crore convertible warrants at Rs. 15 each, subject to shareholder approval at the EGM on September 1, 2025.
The going concern flag, qualified auditor opinion, and a sharp year-on-year revenue decline with continued losses signal serious financial weakness. Shareholders face dilution risk from the proposed preferential issue, though it may bring in needed capital. The stock is likely to remain under pressure until the loan waiver is settled and the company returns to profitability.