Integrated Financial Filling
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Awaiting price reaction for this filing.
Sea TV Network has filed its audited results for FY25 along with a qualified audit opinion from Doogar & Associates. The auditor flagged that the company reversed ₹58.15 lakhs of interest accrued in the first three quarters and did not recognise ₹141.59 lakhs of Q4 interest on unsecured borrowings — together a ₹199.74 lakh understatement of finance cost, loss, and current liabilities, because no formal lender waiver exists. Management says financial constraints and inability to service interest, with loan restructuring under consideration, drove this. Standalone revenue fell to ₹613.69 lakhs from ₹973.39 lakhs (down ~37%), and the standalone loss for FY25 was ₹388.23 lakhs (vs ₹399.43 lakhs last year). Total standalone equity is deeply negative at ₹(4,081.38) lakhs, with non-current borrowings of ₹1,725.19 lakhs and current borrowings of ₹654.68 lakhs. Operating cash flow was negative ₹203.50 lakhs standalone and ₹44.81 lakhs consolidated.
Negative net worth, recurring losses, weak cash generation, and a qualified audit opinion signal serious financial stress and a going-concern risk. Shareholders face a stock where the balance sheet is eroded and the company itself acknowledges it cannot service its interest obligations — expect heightened scrutiny and possible restructuring announcements.