With reference to the subject captioned above, we hereby inform you that meeting of the Board of Directors of the company was held today i.e. Wednesday, 20th May, 2026 through Video Conferencing ....
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Sea TV Network Ltd reported audited results for the year ended 31 March 2026 with a Qualified Opinion from auditors Doogar & Associates on both standalone and consolidated financials. The company failed to recognize interest on unsecured loans amounting to Rs 233.14 lakhs for the full year (Rs 69.84 lakhs for Q4), which auditors stated is non-compliant with Ind AS 109. Management cited financial constraints and is considering loan restructuring, though no formal waiver has been executed. Consolidated revenue declined to Rs 863.45 lakhs from Rs 1,243.52 lakhs in the prior year, with a net loss of Rs 190.90 lakhs. Standalone revenue fell to Rs 562.55 lakhs from Rs 692.43 lakhs, with a net loss of Rs 150.04 lakhs. The company has negative net worth (standalone: -Rs 4,023.89 lakhs, consolidated: -Rs 4,023.65 lakhs), raising going concern concerns.
The qualified audit opinion and failure to recognize interest expenses signal weak financial controls and ongoing distress. Declining revenues and persistent losses with negative net worth indicate material risk to shareholders; the company may face difficulty raising capital or refinancing debt.