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 May ....
Awaiting price reaction for this filing.
Esha Media Research Ltd reported audited FY25 results with total income of Rs. 316.39 lakhs versus Rs. 13.62 lakhs in FY24, while losses after tax widened sharply to Rs. 362.64 lakhs from Rs. 9.14 lakhs, driven mainly by a Rs. 258.22 lakhs tax expense. The auditor (N.A. Shah Associates LLP) issued a Qualified Opinion due to an outstanding interest-free unsecured loan of Rs. 769.68 lakhs from an ex-director and a member, for which settlement/waiver discussions are ongoing. The auditor also flagged a material going concern uncertainty as the company has negative net worth of Rs. 1,092.36 lakhs and current liabilities (Rs. 1,152.19 lakhs) far exceed current assets (Rs. 25.93 lakhs). The Board also appointed MSDS & Associates as Secretarial Auditor for five years (FY25 to FY29).
This is a weak set of results for shareholders — deeper losses, negative book value, qualified audit, and a going concern flag signal serious financial stress despite revenue growth. The stock carries high risk; investor confidence may be impacted until the loan waiver/settlement, going concern funding support, and tax disputes are resolved.