Date: 22nd September, 2026
Financial Results (Consolidated)
FY 2025-26 consolidated performance showed broad-based operating improvement across all three business segments. Each business unit strengthened its EBITDA performance during the year. Financial figures are presented in ₹ Lacs (1 Lac = ₹100,000).
Mukta Arts Production Performance
Standalone EBITDA margin reached 49% through disciplined cost control. The division returned to active production with three projects: Maanya (new original with social message demonstrating cost-efficient model), Taal 2 (focus area building on iconic musical franchise, production begins next year), and Khalnayak 2 (rights deal done to secure profitability). Domestic box office crossed ₹13,395 crore in FY 2025-26 gross terms, an all-time high driven by content-led original storytelling.
New Growth Verticals
Animation (SGM Studios): Green Gold Animation partnership progressing well, combining production execution with revolutionary creative approach. Platform conversations for reimagined IP moving strongly, opening new distribution pipeline. Developing films and series for adult and young-adult audience using human creativity and AI tools.
OTT and Streaming: Experienced team in place ready to deliver on OTT platforms. Strategy uses Mukta's own IP as backbone while building original series content including fiction, non-fiction, and documentary on Subhash Ghai's 50th year as director.
Live Entertainment: Eva Live × Mithoon partnership creating landmark live property celebrating Subhash Ghai's musical legacy. Outdoor extravaganza at Jio Gardens in December 2026 with expected attendance exceeding 20,000. Potential to move production to other cities and countries.
Whistling Woods International Performance
Revenue from operations grew 7% to ₹5,842 Lacs, aided by new July 2025 batch and growing KEM project video production income. EBITDA grew 29% from ₹506 Lacs to ₹652 Lacs. EBITDA margin expanded from 9% to 11%. Positive outlook for 2026-27 based on higher admissions and new MBA tie-up. Land matter with final hearings on Review Petitions before Bombay High Court expected shortly, with company confident of favorable outcome that would unlock significant campus expansion.
Mukta A2 Cinemas Performance
Revenue grew 18% with EBITDA more than doubling. Operational metrics: Footfalls increased from 30.95 L to 31.81 L admits, Average Ticket Price increased from ₹194 to ₹213.60, F&B Spend Per Head increased from ₹60 to ₹79. Modest number of underperforming properties exited during the year, sharpening portfolio focus on profitable core.
Strategic Partnership: Entered management-contract model partnership with One Cinemas. Capital-light model designed to protect from cyclical nature of box office. Mukta A2 keeps strong-performing cinemas while using expertise to manage new and upcoming properties for partners. Positions business for durable, less cyclical growth alongside multiplex expansion in under-penetrated states and rising F&B revenue.
FY 2026-27 Outlook
Group is re-entering growth on broader and more resilient base across all business segments.
Corporate Governance
Presentation made at 44th Annual General Meeting held on Tuesday, 22nd September, 2026 at 4:00 p.m. (IST) through Video Conferencing/Other Audio-Visual Means. Signed by Pratiksha Janak Panchal, Company Secretary and Compliance Officer.