TV Today Network Limited has informed the Exchange about acquisition of 100% Equity shares of Romesh Films Private Limited.
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Awaiting price reaction for this filing.
TV Today Network's board approved acquiring 100% equity (4,65,010 shares) of Romesh Films Private Limited for Rs. 200 crores in cash, making it a wholly owned subsidiary. The deal is a restructuring of an earlier April 2025 plan to directly buy an immovable property in Noida from Romesh Films; instead, the company will now buy the entity that owns the property. Romesh Films has no active operations (FY25 turnover: Nil, PAT: Rs. 2.82 crores, Networth: Rs. 5.93 crores) and exists only to hold the land and building near the company's Noida office. The transaction is not a related party deal, requires no government approval for the share purchase, and is targeted to complete within 90 days of signing the share purchase agreement. The board also approved Q1 FY26 results, which showed revenue of Rs. 197.19 crores and net profit of Rs. 7.32 crores, a sharp decline from Rs. 309.22 crores and Rs. 51.43 crores in Q1 FY25.
The Rs. 200 crore acquisition is essentially a real estate purchase via a shell company route, aimed at long-term expansion and operational convenience at the Noida office. Shareholders should note the large cash outflow for a non-revenue-generating asset, while also factoring in the steep YoY drop in Q1 profitability driven by weaker advertising revenue.