Company Overview
Vashu Bhagnani Industries Limited (formerly Pooja Entertainment and Films Limited, Scrip Code: 532011) submitted its Annual Report for FY 2025-26 to BSE in compliance with SEBI Regulation 34 requirements. The company reported mixed financial results with significant corporate developments.
Financial Performance
For FY 2025-26, the company reported standalone revenue of ₹996.46 lakhs and profit before tax of ₹189.52 lakhs, showing improvement from the previous year. However, on a consolidated basis, net profit declined by approximately 50% to ₹313.09 lakh from ₹624.76 lakh in FY25, despite revenue from operations (film production) reaching ₹1,441.85 lakh. The company's financial position showed improvement with working capital of ₹16,047.70 lakh and cash equivalents of ₹1,302.45 lakh as of March 2026, compared to ₹79.66 lakh in the previous year.
Capital Structure Changes
The equity share capital increased from ₹5,543.85 lakh to ₹6,395.35 lakh through conversion of 85,15,000 share warrants into equity shares, resulting in total outstanding shares increasing from 5,54,38,500 to 6,39,53,500 shares. Promoter holding increased marginally from 73.84% to 74.48%, with Vashu Bhagnani's holding increasing to 48.25%.
Corporate Governance & Compliance
The company held its 39th Annual General Meeting on September 26, 2026, with agenda items including adoption of financial statements, re-appointment of directors, and appointment of new statutory auditors. M/s D S M R & Co resigned in August 2026, with M/s Rahul Pramod & Co proposed as replacement subject to shareholder approval. The company paid a fine of ₹61,360 to BSE for delayed submission of Secretarial Compliance Report.
Related Party Transactions
Shareholders are asked to approve material related party transactions with five group entities (Puja Entertainment India, Pooja Entertainment, Jjust Music Label, JVB Emerge, and Pooja Leisure and Lifestyle) capped at ₹100 crore each for FY 2026-27. Significant transactions during the year included ₹650 lakh service sale to VB Realty Developers FZE and short-term borrowings from related parties.
Subsidiaries & Business Ventures
The company has a wholly owned subsidiary, Modern Production FZ LLC in UAE, which became a Material Subsidiary upon disclosure of audited results. The company has ventured into real estate development with "POOJA LUMINAIRE" project at Juhu, Mumbai.
Risk Factors & Contingencies
The company disclosed contingent liabilities of ₹1,021.16 lakh, including disputed income tax demands of ₹24.63 lakh and GST claims of ₹996.53 lakh. Financial ratios showed improvement in current ratio (7.15 from 3.45) and debt-equity ratio (0.04 from 0.10), but return on equity declined to 0.02%.
Other Material Information
No dividend was recommended for FY 2025-26. The company recognized a bad debt expense of ₹563.35 lakh during the year and reported earnings per share of ₹0.49 compared to ₹0.98 in the previous year. No CSR expenditure was incurred during FY26 compared to ₹7.40 lakh in FY25.