PERFECT-OCTAVE MEDIA PROJECTS

Operates a single niche classical music television channel called 'Insync' under the TV Broadcasting & Software Production classification, with broadcasting accounting for 100% of segment revenue in the most recent period. Revenue from operations has shrunk sharply year-on-year, from Rs. 167.98 lakhs in FY24 to Rs. 77.05 lakhs in FY25 and Rs. 26.28 lakhs in FY26, a drop the company itself described as a struggle to scale its broadcast business. Total expenses consist almost entirely of employee costs (149.2% of revenue) and other operating expenses (460.2% of revenue), with no material cost or depreciation in the latest year, so costs vastly exceed the operating revenue base. The headline FY26 net profit of Rs. 92.21 lakhs was driven by a one-time exceptional item of Rs. 226.76 lakhs (a write-off of an amount payable to a party under a mutual agreement); without it, the company would have been in operating loss. The balance sheet is stressed, with negative other equity of Rs. 2,520.47 lakhs against total equity of Rs. 949.54 lakhs, and trade receivables of Rs. 1,200.01 lakhs at H1 FY26 representing nearly 98% of total assets.