Key Quantitative Figures

  • Revenue from Operations: ₹158.27 crore (FY25: ₹74.04 crore)
  • Other Income: ₹1.28 crore (FY25: ₹1.53 crore)
  • Total Income: ₹159.56 crore (FY25: ₹75.57 crore)
  • Net Loss After Tax: ₹15.85 crore (FY25: ₹45.40 crore)
  • Share Capital: ₹4.32 crore (unchanged)
  • Reserves & Surplus: ₹25.56 crore (FY25: ₹41.10 crore)
  • Proposed RPT with Tips Music: ₹60 crore
  • Proposed RPT with Promoters: ₹200 crore (unsecured loans)
  • Director Remuneration: Mr. Ramesh Taurani ₹14 lakh/month; Ms. Jaya Taurani ₹7.5 lakh/month

Dates of Action

  • AGM Date: September 17, 2026, at 12:00 PM IST via VC/OAVM
  • Remote E-Voting Period: September 14, 2026 (9:00 AM) to September 16, 2026 (5:00 PM)
  • Record Date: September 10, 2026
  • Board Meetings Held: May 12, 2025; August 14, 2025; October 3, 2025; November 7, 2025; January 27, 2026

Parties Involved

  • Statutory Auditors: Maheshwari & Co.
  • Secretarial Auditors: N L Bhatia & Associates
  • Internal Auditors: Grant Thornton Bharat LLP and Mathur & Co.
  • RTA: MUFG Intime India Pvt Ltd
  • Promoters: Kumar Taurani (20.28%), Ramesh Taurani (20.24%), Varsha Taurani (17.21%), Renu Taurani (17.17%)

Business Performance and Rationale

  • The company released two films in FY26: Maalik (Hindi) and Sarbala Ji (Punjabi), both underperformed.
  • Three films are currently in production: Hai Jawaani Toh Ishq Hona Hai, Dil Ka Darwaza, and Kahani Mein Twist.
  • The third-party theatrical distribution division is scaling up, having distributed Sikandar and Housefull 5.
  • The company aims for 5-6 productions per year.

Financial and Capital Structure Impact

  • No dividend recommended for FY26.
  • No change in share capital; 43,22,886 equity shares of ₹10 each.
  • No shares issued with differential voting rights, sweat equity, or ESOPs.
  • Unsecured loans from directors: ₹82.50 crore outstanding as of March 31, 2026.

Cash Flow Implications

  • Net cash used in operating activities: ₹12.72 crore
  • Net cash from investing activities: ₹2.05 crore
  • Net cash used in financing activities: ₹2.46 crore
  • Cash and cash equivalents: ₹3.92 crore (FY25: ₹17.05 crore)

Forward-Looking Commentary

  • The Chairman's message indicates a focus on identifying high-quality, economically viable scripts and controlling artist compensation costs.
  • The company is exploring a joint production with a leading production house.
  • The outlook for the media and entertainment industry is positive, with expected growth driven by digital transformation.

Other Material Disclosures

  • The company has no subsidiaries, associates, or joint ventures.
  • No fraud reported by auditors.
  • No material orders passed by regulators or courts.
  • Whistle-blower policy and vigil mechanism are in place.
  • Corporate social responsibility (CSR) is not applicable as the company does not meet the criteria under Section 135(1) of the Companies Act, 2013.