Company Overview
Cinevista Limited (BSE: 532324, NSE: CINEVISTA) convened its 29th Annual General Meeting on 30th June 2026 to approve audited financial statements and special resolutions. The company reported a significant financial turnaround with net profit of ₹6.10 crore for FY26, reversing from a ₹31.61 crore loss in FY25, while total income increased to ₹24.04 crore from ₹11.68 crore in the previous year.
AGM Resolutions and Corporate Governance
The AGM agenda included adoption of standalone and consolidated financial statements, reappointment of directors, and appointment of M/s Sarath & Associates as statutory auditors replacing M/s Raj Niranjan Associates. Key special business items included reappointment of Managing Director Sunil Mehta and Chairman Prem Krishen Malhotra (both over age 70) with remuneration of ₹5.25 lakh per month each, approval for related party transactions up to ₹50 crore, and borrowing powers up to ₹163 crore. The company also sought continuation of independent director Mahrukh Chikliwala after attainment of age 75 years.
Business Operations and Joint Development Project
The company operates in content production for television, films, and digital platforms through 6 YouTube channels including Cinevista Classics (811,727 subscribers). It has diversified into real estate through a joint development agreement with K. Raheja Corp Real Estate to develop land at Kanjurmarg, Mumbai. The project 'Antares' (RERA: P51800077483) has generated ₹35.37 crore revenue to date with expected completion by November 2029 and sharing ratio of 24.5% for Cinevista.
Financial Reporting and Accounting Policies
The financial statements were prepared under Ind AS with detailed accounting policies for provisions, contingent liabilities, employee benefits, earnings per share, cash flows, and segment reporting. Statutory auditors raised qualified opinions regarding impairment on investments/advances to subsidiaries (₹62.35 lakh in investments, ₹3.76 crore in advances) and intangible assets (carrying value of ₹21.89 crore), though management believes recovery is possible.
Corporate Structure and Shareholding
Promoters hold 67.49% of shares with 94.21% of equity capital in dematerialized form. The board consists of Chairman Prem Krishen Malhotra, Vice-Chairman Sunil Mehta, and independent directors including Mahrukh Chikliwala. Outstanding borrowings stood at ₹15.32 crore as of 31st March 2026 with primary lenders including Central Bank of India and Indiabulls Housing Finance. No dividend was recommended due to accumulated losses.