Board Meeting Details
A meeting of the Board of Directors was held on May 28, 2026 (7:00 PM to 9:00 PM) where the Board:
- Considered and approved the Annual Audited Financial Statements (Standalone and Consolidated) for FY ended March 31, 2026
- Considered and approved Audited Financial Results (Standalone and Consolidated) for quarter and FY ended March 31, 2026
- Decided not to recommend any dividend on equity shares for FY ended March 31, 2026
Standalone Financial Results (₹ lakhs)
Income Statement:
- Q4 FY26 Revenue from operations: ₹637.09
- FY26 Revenue from operations: ₹2,786.13 (FY25: ₹3,975.84)
- Q4 FY26 Total Income: ₹1,309.30
- FY26 Total Income: ₹4,915.19 (FY25: ₹5,980.41)
- Q4 FY26 Total Expenses: ₹2,888.60
- FY26 Total Expenses: ₹7,439.54 (FY25: ₹10,441.68)
- Q4 FY26 Loss before tax: ₹(1,579.30)
- FY26 Loss before tax: ₹(2,524.35) (FY25 Profit: ₹17,159.91)
- Q4 FY26 Tax expense: ₹(2,011.63) (mainly deferred tax credit)
- FY26 Tax expense: ₹(2,249.92) (FY25: ₹(1,429.83))
- Q4 FY26 Net Profit: ₹432.33
- FY26 Net Loss: ₹(274.43) (FY25 Net Profit: ₹18,589.74)
- Q4 FY26 EPS (Basic): ₹0.06
- FY26 EPS (Basic): ₹(0.05) (FY25: ₹6.20)
Balance Sheet (as of March 31, 2026):
- Total Assets: ₹777,968.29
- Equity Share Capital: ₹7,759.91
- Other Equity: ₹701,767.95
- Total Equity: ₹709,527.86
- Non-current liabilities: ₹2,801.18
- Current liabilities: ₹65,639.25
- Borrowings (current): ₹20,000.00
Cash Flow (FY26):
- Net cash used in operating activities: ₹(2,117.91)
- Net cash used in investing activities: ₹(43,730.78)
- Net cash from financing activities: ₹45,821.50
- Net decrease in cash: ₹(27.19)
- Cash and equivalents at year-end: ₹119.14
Consolidated Financial Results (₹ lakhs)
- FY26 Revenue from operations: ₹458,732.37 (FY25: ₹353,791.37)
- FY26 Total Income: ₹478,343.43 (FY25: ₹382,549.85)
- FY26 Profit before tax: ₹33,428.10 (FY25 Loss: ₹(41,073.64))
- FY26 Net Profit: ₹30,142.26 (FY25 Net Loss: ₹(45,828.43))
- FY26 EPS (Basic): ₹3.94 (FY25: ₹(12.57))
- Consolidated assets: ₹1,064,943.42
- Consolidated equity: ₹254,566.82
Key Events and Transactions
Preferential Issue:
- Board approved on July 3, 2025, shareholders approved on July 26, 2025
- Issue of 46,26,69,444 equity shares at ₹120 per share (premium ₹119)
- Total issue size: ₹5,55,203.33 lakhs
- ₹39,052.50 lakhs received in cash, balance through share swap
- Swap ratio: 2,561 Company shares for every 100 subsidiary shares
- Allotment completed in two tranches: 27,47,28,041 shares on September 17, 2025, and 18,79,40,531 shares on September 23, 2025
- Issue expenses: ₹27,865.88 lakhs (net of tax) debited to securities premium
ESOP Allotment:
- Allotted 1,33,34,999 equity shares at premium of ₹51 per share on exercise of stock options
Legal Proceedings with Raspalfa Services:
- Relates to acquisition of Film and Media Services business from Reliance MediaWorks in 2014
- Total consideration ₹55,000 lakhs, ₹20,000 lakhs structured as debt to Raspalfa Services (formerly Reliance Alpha Services)
- RASPL filed petition under IBC before NCLT Mumbai claiming ₹35,379.75 lakhs
- NCLT admitted petition on May 6, 2026
- Company appealed to NCLAT, obtained stay on May 12, 2026
- NCLAT directed deposit of ₹35,379.75 lakhs in interest-bearing account with Registrar by May 20, 2026 (complied with)
- RASPL challenged interim order in Supreme Court, which disposed appeal on May 25, 2026 without interference
- Matter sub judice before NCLAT, next hearing July 9, 2026
- Company has made appropriate accruals in books
Labor Code Implementation:
- Government consolidated 29 labor regulations into four Labour Codes effective November 21, 2025
- Recognized incremental employee benefit provision of ₹24.31 lakhs in standalone results (₹18.03 lakhs in Q3, ₹6.28 lakhs in Q4)
- Consolidated impact: ₹2,479.37 lakhs recognized as exceptional item
Sale of Prime Focus Technologies:
- Sold entire shareholding in PFT to DNEG S.a.r.l. in Q1 FY25 for ₹69,302.55 lakhs
- Recognized exceptional gain of ₹21,621.18 lakhs (net of tax) in FY25