Shemaroo Entertainment Limited has informed the Exchange regarding Appointment of M/s Joshi Apte & Associates as Other of the company w.e.f. April 01, 2026.
SHEMAROO · price
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Shemaroo Entertainment Limited reported significantly widened losses for FY26 with consolidated net loss of Rs 21,861.58 lakhs compared to Rs 8,495.91 lakhs in FY25. Standalone revenue declined to Rs 54,731.37 lakhs from Rs 65,048.93 lakhs year-on-year. The Board approved re-appointment of M/s Mukund M. Chitale & Co. as statutory auditor for another 5-year term and M/s Joshi Apte & Associates as cost auditor for FY27. CFO Mr. Amit Haria resigned effective May 21, 2026 to pursue other opportunities, and Mr. Ashish Gupta (24 years experience including CFO roles at BARC India and International SOS) was appointed as new CFO from May 22, 2026. The auditors issued unmodified opinions on the financial statements. A GST demand order dispute (Rs 7,025.61 lakhs plus penalties) remains pending before Bombay High Court Larger Bench.
The company is facing severe financial stress with losses more than doubling and revenue declining 16% year-on-year. The smooth CFO transition with a qualified replacement may provide stability, but shareholders should monitor if the new CFO can address operational cost challenges. The ongoing GST litigation remains a key risk factor.