💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment. Consolidated revenue from operations for Q2 FY26 was INR 0.00 Lakh, representing a 100% decline from INR 27.25 Lakh in Q2 FY25. Total income including other income was INR 3.99 Lakh, down 85.3% YoY.

Geographic Revenue Split

Not disclosed in available documents. The company operates primarily from its registered office in New Delhi and corporate office in Noida.

Profitability Margins

Operating margins are deeply negative as the company reported a loss before tax of INR 39.99 Lakh on total revenue of INR 3.99 Lakh for Q2 FY26. Net profit margin was 1,663% (INR 66.39 Lakh) only due to a deferred tax credit of INR 106.38 Lakh, which is non-operational in nature.

EBITDA Margin

EBITDA is negative. For Q2 FY26, the company recorded an operating loss (before interest, tax, and depreciation) of approximately INR 20.19 Lakh, compared to an operating loss of INR 8.07 Lakh in Q2 FY25, indicating a 150% increase in operational cash burn.

Capital Expenditure

The company has utilized INR 13.82 Cr for the upgradation of machinery and assets and INR 7.54 Cr for setting up offices out of its IPO proceeds as of September 30, 2025. Total planned expenditure for machinery was INR 15.32 Cr.

Credit Rating & Borrowing

The company has current borrowings of INR 4.05 Cr and non-current trade payables of INR 13.89 Cr. Specific credit ratings and interest rate percentages are not disclosed, but the company has a history of repaying an RBS loan (INR 2.93 Cr utilized).

⚙️ Operational Drivers

Raw Materials

Not applicable as the company operates in the IT/Infomedia service sector. Primary costs are Employee Benefits (INR 6.31 Lakh) and Depreciation (INR 19.80 Lakh).

Import Sources

Not applicable for this service-oriented business model.

Capacity Expansion

The company is expanding its R&D facilities with INR 4.55 Cr utilized out of a planned INR 4.72 Cr. Office setup is 76% complete with INR 7.54 Cr spent against a target of INR 9.89 Cr.

Raw Material Costs

Not applicable. Operational costs are driven by employee expenses which accounted for 158% of total revenue in Q2 FY26 (INR 6.31 Lakh expense vs INR 3.99 Lakh revenue).

Manufacturing Efficiency

Not applicable. The company's efficiency is low as it generated zero operational revenue in Q2 FY26 despite having an equity base of INR 15.84 Cr.

Logistics & Distribution

Not applicable for the company's digital/infomedia service offerings.

📈 Strategic Growth

Expected Growth Rate

0%

Growth Strategy

The company is focusing on utilizing remaining IPO proceeds for R&D expansion (INR 4.55 Cr spent) and machinery upgradation (INR 13.82 Cr spent) to pivot its service offerings. It is also undergoing a promoter reclassification process to potentially attract new investment or strategic partners.

Products & Services

Digital media services, IT solutions, and infomedia content production and distribution.

Brand Portfolio

Bharatiya Global Infomedia (BGIL).

New Products/Services

Expansion into enhanced R&D driven IT services; revenue contribution is currently 0% as operational revenue has stalled.

Market Expansion

The company is setting up new offices with a budget of INR 9.89 Cr to expand its geographic footprint within India.

Market Share & Ranking

Not disclosed; the company is a small-cap player with negligible current market share in the IT/Infomedia space.

🌍 External Factors

Industry Trends

The infomedia and IT sector is shifting toward high-tech R&D and digital-first content. The company is attempting to align via its R&D spend (INR 4.55 Cr), but is currently hindered by severe governance and liquidity issues.

Competitive Landscape

Competes with small to mid-sized IT and digital media firms in India; currently underperforming peers due to zero revenue generation.

Competitive Moat

The company lacks a sustainable moat. Its competitive advantage is currently eroded by a lack of operational revenue and significant legal/regulatory overhangs.

Macro Economic Sensitivity

High sensitivity to the regulatory environment in India, particularly SEBI and MCA compliance, which has directly led to penalties and operational halts.

Consumer Behavior

Shift toward digital content consumption is a tailwind, but the company has failed to monetize this trend in the recent quarter.

Geopolitical Risks

Low, as operations are primarily domestic and focused on the Indian infomedia market.

⚖️ Regulatory & Governance

Industry Regulations

Subject to SEBI (LODR) Regulations 2015 and Companies Act 2013. The company is currently a 'defaulter' on the BSE website regarding Structural Digital Database compliance.

Environmental Compliance

Not applicable for the service-based infomedia industry.

Taxation Policy Impact

The company benefited from a deferred tax credit of INR 1.06 Cr in Q2 FY26, which masked an operational loss of INR 39.99 Lakh.

Legal Contingencies

The company faces a SEBI penalty of INR 6 Cr and has unrecovered Inter-Corporate Deposits of INR 5.40 Cr. There are also significant delays in filing MCA forms (MGT-14, DPT-3, MGT-15) and a lack of a Chief Financial Officer (CFO) since May 2018.

⚠️ Risk Analysis

Key Uncertainties

The primary risk is the potential insolvency or severe capital erosion if the INR 6 Cr SEBI penalty and INR 5.4 Cr ICD loss are fully realized, representing a 72% risk to equity capital.

Geographic Concentration Risk

100% of operations and assets are concentrated in India, specifically the Delhi-NCR region.

Third Party Dependencies

High dependency on legal outcomes and regulatory approvals for promoter reclassification to stabilize the board.

Technology Obsolescence Risk

High risk; the company's machinery upgradation is still in progress (INR 1.38 Cr remaining to be spent), while competitors are already utilizing advanced digital infrastructure.

Credit & Counterparty Risk

Severe credit risk; the company has failed to recover INR 5.40 Cr in principal from inter-corporate deposits, indicating poor credit assessment and recovery mechanisms.