Company Overview

Sambhaav Media Limited (Scrip Code: 511630, Symbol: SAMBHAAV) submitted its 36th Annual Report and audited financial statements for the financial year ended March 31, 2026, pursuant to SEBI Listing Regulations. The documents were signed by Company Secretary Manisha Mali on July 21, 2026, with financial results dated May 20, 2026.

Financial Performance Highlights

Standalone Financials (₹ in lakhs):

  • Revenue from Operations: ₹3,867.30 (FY2025: ₹3,745.25)
  • Profit Before Tax: ₹150.71 (FY2025: ₹212.42)
  • Profit After Tax: ₹44.40 (FY2025: ₹146.91) - down 70%
  • EPS: ₹0.02 (FY2025: ₹0.08)

Consolidated Financials (₹ in lakhs):

  • Revenue from Operations: ₹4,310.08 (FY2025: ₹4,187.13)
  • Profit Before Tax: ₹98.96 (FY2025: ₹55.79)
  • Profit After Tax: ₹8.19 (FY2025: ₹31.33) - down 74%
  • EPS: ₹0.01 (FY2025: ₹0.02)
  • Total Comprehensive Income: ₹(35.99) lakhs (PY: ₹(0.49))
  • Cash Flow from Operations: ₹802.40 lakhs (PY: ₹2,091.70)

Significant Business Developments

Strategic Investment Conversion:

The company converted ₹1,675 lakhs of preference shares and compulsorily convertible debentures in Gujarat News Broadcasters Private Limited (VTV News) into equity shares effective December 4, 2025, resulting in 36.85% ownership. This investment is now accounted for using the equity method, with the Group's share of profit after tax of GNBPL at ₹2.38 lakhs for the year.

Radio Network Rebranding:

The company strategically rebranded its radio network from "TOP FM" to "LFM" (Laughter FM) effective March 19, 2026, operating 13 stations across Gujarat, Jammu & Kashmir, and Ladakh with comedy-centric programming.

Business Portfolio:

The company operates across multiple media verticals including Print Media (Sambhaav Metro, Abhiyaan), Electronic Media (VTV News marketing rights), Radio (Laughter FM network), Digital platforms, and Technology projects including IVT & PIS with GSRTC covering 8,300 buses.

Key Audit Matters

Auditors Dhirubhai Shah & Co LLP identified two Key Audit Matters:

1. Conversion of investment in GNBPL and equity method accounting - Significant due to ₹1,675 lakhs value and judgments involved in determining fair value and assessing significant influence

2. Provision for expected credit losses against trade receivables - ₹228.93 lakhs provision against gross trade receivables of ₹1,640.10 lakhs required subjective judgments in ECL model

The auditors issued an unmodified opinion on both standalone and consolidated financial statements.

Corporate Governance & Structure

Board Composition:

  • Mr. Manoj B. Vadodaria: Chairman & Managing Director (reappointed for 3 years w.e.f January 28, 2026)
  • Mr. Jagdish G. Pavra: Whole-Time Director (retiring by rotation)
  • Independent Directors: Mr. Hemantkumar Golani, Mr. Paresh A. Vaghela, Mr. Balveermal K. Singhvi, Mrs. Gouri P. Popat

Key Managerial Personnel:

  • Mr. Ashokkumar Jain: Chief Executive Officer
  • Mr. Sanjay Thaker: Chief Financial Officer
  • Ms. Manisha Mali: Company Secretary

Corporate Actions & AGM Details

  • No dividend recommended for FY2025-26 due to financial resource requirements for project execution
  • The 36th Annual General Meeting will be held on August 13, 2026 through Video Conferencing
  • Book closure period: August 7, 2026 to August 13, 2026
  • Remote e-voting period: August 10, 2026 (9:00 AM) to August 12, 2026 (5:00 PM)

Financial Position & Risk Management

  • Total Assets: ₹9,656.61 lakhs (Consolidated)
  • Net Worth: ₹8,373.29 lakhs (Standalone), ₹8,353.25 lakhs (Consolidated)
  • Debt reduced to ₹59.49 lakhs from ₹620.73 lakhs in FY2025
  • Contingent Liabilities: ₹511.77 lakhs (primarily tax demands under appeal)
  • Credit risk exposure with ₹228.93 lakhs provision for expected credit losses
  • No material fraud reported and all statutory dues regularly paid

Forward Outlook

The company is transitioning to a "techno-media infrastructure developer" focusing on convergence of technology, broadcasting, mobility, content, and public engagement, with future growth areas in artificial intelligence, direct-to-consumer communities, and digital audio advertising.