Revised and Rectified Submission of Un-Audited Standalone and Consolidated Financial Results and Limited Review Report pursuant to Regulation 33 of SEBI (LODR) Regulations 2015 for the ....
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Sea TV Network's board, at a meeting on 6 August 2025, approved the revised and rectified unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended 30 June 2025), along with the limited review report from statutory auditor Doogar & Associates. The auditor drew specific attention (emphasis of matter) to note no. 4, which discloses that the company did not provide for interest of Rs. 53.88 lacs on unsecured loans; had it been provided, the reported loss would have been higher by the same amount. This treatment is not in line with Ind AS 109, which requires financial liabilities to be measured at amortised cost using the effective interest method. The consolidated results include two subsidiaries (Jain Telemedia Services and Sea News Network) whose figures (revenue of Rs. 88.08 lacs, net profit of Rs. 20.58 lacs) were certified by management and not independently reviewed by the auditor. The auditor's overall review conclusion remains unmodified.
The re-submission flags a past accounting shortcoming where interest on loans was not booked, understating losses — a negative governance signal for shareholders. Persistent losses combined with unsecured loans not accruing interest raise questions about the company's true profitability and financial discipline, which may weigh on investor confidence.