With reference to the subject matter cited above, it is hereby informed that the Board of Directors of the company at the meeting held on Monday, 10th November, 2025 at 10:30 A.M. at ....
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The Board of Directors of Sea TV Network Ltd, at its meeting held on November 10, 2025 (10:30 AM to 7:50 PM), approved and adopted the un-audited standalone and consolidated financial results for the second quarter and half year ended September 30, 2025, along with the Limited Review Report by statutory auditor Doogar & Associates. The auditor flagged a significant concern: the company has not provided for interest on unsecured loans, amounting to Rs 56.16 lacs for Q2 and Rs 110.04 lacs for the half year, noting that had this interest been recognised, the company's loss would have been higher by those amounts. The auditor stated this treatment is not in compliance 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 Ltd and Sea News Network Ltd — which together contributed total revenues of Rs 378.39 lacs in Q2 and Rs 466.46 lacs in H1, and net profits of Rs 83.66 lacs and Rs 104.24 lacs respectively, partly offsetting standalone-level losses.
Investors should note that the standalone company is loss-making and the reported loss is understated by Rs 56.16 lacs for the quarter due to non-recognition of interest on unsecured loans. The auditor's emphasis of matter on this Ind AS 109 non-compliance raises a red flag about earnings quality and debt servicing disclosure, and may weigh on the stock given weak governance signals.