Zee Media Corporation Limited has informed the Exchange regarding Appointment of Chandra Wadhwa & Co. as Cost Auditors of the company w.e.f. May 29, 2026.
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Zee Media Corporation Limited's Board meeting on May 29, 2026 approved: (1) Re-appointment of Chandra Wadhwa & Co. as Cost Auditors for FY 2026-27 (remuneration subject to shareholder ratification at AGM), and (2) Appointment of Nangia & Co, LLP as Internal Auditor for FY 2026-27. The Board also approved the Annual Audited Financial Results for Q4 and FY ended March 31, 2026. Standalone revenue grew 25.6% year-on-year to Rs. 57,153 lakhs, with the company returning to profit at Rs. 1,693 lakhs (vs a loss of Rs. 10,033 lakhs in the prior year). However, Q4 standalone saw a loss of Rs. 1,432 lakhs. Consolidated revenue grew 22.1% to Rs. 75,918 lakhs with consolidated PAT of Rs. 190 lakhs. The company flagged going concern issues due to accumulated losses and negative working capital, though it has met all debt obligations and is pursuing capital-raising via FCCBs and convertible warrants.
The appointment of new auditors is routine and non-alarmist. However, the underlying financial results show a mixed picture — annual profitability has recovered but Q4 losses and going concern warnings are concerning. The stock may see neutral reaction to the auditor appointment but faces scrutiny over the company's ability to resolve its working capital and accumulated loss issues.