EROSMEDIA - Eros Intl.Media
📢 Recent Corporate Announcements
Eros International Media Limited has announced the successful passage of three key resolutions via postal ballot with over 99% shareholder approval. The most significant outcome is the approval to change the company's name to 'Eros Media Technologies Limited', indicating a potential strategic pivot or rebranding. Additionally, shareholders approved the appointments of Mr. Anand Shankar Kamtam and Mr. Vijay Gulab Chand to the Board of Directors. While the resolutions passed with a high majority of those who voted, total voter turnout was relatively low at approximately 16.67% of outstanding shares.
- Shareholders approved the name change to 'Eros Media Technologies Limited' with a 99.86% majority.
- Appointment of Mr. Anand Shankar Kamtam as Director was confirmed with 99.76% of votes in favor.
- Mr. Vijay Gulab Chand was appointed as a Non-Executive Non-Independent Director with 99.75% approval.
- Total voter turnout represented 16.67% of the company's 95.91 million outstanding shares.
- Promoter group voting was 100% in favor across all three resolutions.
Eros International Media reported a net loss of ₹505 Lakhs for the quarter ended December 31, 2025, compared to a profit of ₹1,673 Lakhs in the previous year. The company's net worth has been completely eroded, leading to a 'Material Uncertainty Related to Going Concern' warning from auditors. Additionally, the company is under intense regulatory scrutiny, including a SEBI investigation into content advances totaling ₹1,01,601 Lakhs and a recent Enforcement Directorate search. Significant trade receivables from group entities remain overdue, with over ₹26,927 Lakhs already provisioned for credit losses.
- Net sales for Q3 FY26 fell to ₹995 Lakhs from ₹2,286 Lakhs in the same quarter last year.
- Reported a net loss of ₹505 Lakhs for the quarter and a 9-month loss of ₹4,104 Lakhs.
- Auditors issued a qualified opinion regarding ₹1,01,601 Lakhs in content advances under SEBI investigation.
- Company net worth is fully eroded, and the firm has defaulted on statutory dues on multiple occasions.
- Net trade receivables of ₹15,802 Lakhs from Eros Worldwide FZE remain pending RBI approval for set-off.
Eros International Media reported a standalone net loss of ₹508 Lakhs for Q3 FY26, contributing to a 9-month loss of ₹4,110 Lakhs which has completely eroded the company's net worth. The statutory auditor has issued a qualified opinion, citing ₹26,927 Lakhs in provisions for overdue receivables from group entities and an ongoing SEBI investigation into content advances totaling ₹1,01,601 Lakhs. Additionally, the company faces material uncertainty regarding its ability to continue as a going concern due to persistent losses and defaults on statutory dues. Regulatory pressure remains high following Enforcement Directorate searches and active SEBI show-cause notices.
- Standalone net loss of ₹508 Lakhs for Q3 FY26 and ₹4,110 Lakhs for the nine-month period.
- Company net worth is fully eroded, triggering a 'Material Uncertainty Related to Going Concern' warning from auditors.
- Auditors flagged ₹1,01,601 Lakhs in content advances (net ₹3,289 Lakhs) currently under SEBI scrutiny.
- Total provisions for expected credit losses from group entities reached ₹26,927 Lakhs as of December 2025.
- Net sales for the quarter declined to ₹2,953 Lakhs compared to ₹4,022 Lakhs in the preceding quarter.
Eros International Media Limited has scheduled a board meeting for February 13, 2026, to consider and approve its unaudited financial results. The meeting will cover both standalone and consolidated performance for the quarter and nine-month period ending December 31, 2025. In compliance with SEBI regulations, the trading window for the company's shares has been closed since January 1, 2026. It is expected to reopen on February 16, 2026, following the 48-hour post-announcement cooling period.
- Board meeting scheduled for February 13, 2026, to approve Q3 results.
- Covers unaudited standalone and consolidated financial results for the period ended Dec 31, 2025.
- Trading window remains closed from January 1, 2026, until February 15, 2026.
- Compliance with Regulation 29(1)(a) of SEBI Listing Obligations.
Eros International Media Limited has issued a postal ballot notice to seek shareholder approval for three key resolutions. The primary proposal is to change the company's name to 'Eros Media Technologies Limited', suggesting a strategic pivot or rebranding towards technology-driven media. Additionally, the company is seeking the formal appointment of Mr. Anand Shankar Kamtam and Mr. Vijay Gulab Chand as Directors. Shareholders can cast their votes via remote e-voting between February 8, 2026, and March 9, 2026.
- Proposed name change from 'Eros International Media Limited' to 'Eros Media Technologies Limited' via special resolution.
- Appointment of Mr. Anand Shankar Kamtam as a Director, previously appointed as an Additional Director on December 12, 2025.
- Appointment of Mr. Vijay Gulab Chand as a Non-Executive Non-Independent Director.
- Remote e-voting period set for February 8, 2026, to March 9, 2026, with results by March 11, 2026.
- The cut-off date for eligibility to vote on these resolutions is January 30, 2026.
Eros International Media Limited has filed its quarterly compliance certificate under SEBI (Depositories and Participants) Regulations for the period ending December 31, 2025. The company's Registrar, MUFG Intime India Private Limited, confirmed that no requests for dematerialization or rematerialization were received during this quarter. This is a standard administrative filing required by Indian stock exchanges to verify the status of security certificates. The report indicates that the company is maintaining its regulatory obligations regarding share registry management.
- Quarterly compliance certificate filed under Regulation 74(5) of SEBI Regulations.
- Registrar MUFG Intime India reported zero requests for dematerialization or rematerialization for the quarter.
- The filing covers the three-month period ending December 31, 2025.
- Confirms adherence to prescribed timelines for share registry maintenance.
Eros International Media Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the results are made public. This is a standard regulatory procedure to prevent insider trading before price-sensitive information is released.
- Trading window closure effective from January 1, 2026.
- Closure pertains to financial results for the quarter and nine months ended December 31, 2025.
- Window will reopen 48 hours after the official announcement of financial results.
- PANs of designated persons will be frozen by the depository during the closure period per SEBI circulars.
Eros International Media reported its FY25 results with a net loss before tax of ₹ 674 Lakhs, resulting in the complete erosion of its net worth. Statutory auditors issued a qualified opinion, highlighting ₹ 25,884 Lakhs in overdue receivables from group entities and ₹ 1,01,628 Lakhs in content advances under SEBI investigation. The company is also facing scrutiny from the Enforcement Directorate under FEMA and has a material uncertainty regarding its ability to continue as a going concern. Current liabilities exceed current assets, making the company's survival dependent on asset monetization and debt recovery.
- Auditors issued a qualified opinion due to ₹ 25,884 Lakhs provision for overdue receivables from group entities in the UK, USA, and UAE.
- Content advances totaling ₹ 1,01,628 Lakhs are subject to ongoing SEBI investigation and scrutiny.
- The company's net worth is entirely eroded, and current liabilities exceed current assets as of March 31, 2025.
- Enforcement Directorate (ED) conducted search operations in February 2025 regarding potential FEMA violations.
- Reported a net loss before tax of ₹ 674 Lakhs for the financial year ended March 31, 2025.
Eros International Media Limited has restructured its Board of Directors effective December 12, 2025. The company appointed Mr. Anand Shankar Kamtam, a finance veteran with over 20 years of experience, as an Additional Director. Additionally, Mr. Vijay Gulab Chand, who has 31 years of experience and has been with the Eros group since 2007, joins as a Non-Executive Non-Independent Director. These appointments coincide with the resignation of Mr. Sagar S. Sadhwani from the board due to personal commitments.
- Appointment of Mr. Anand Shankar Kamtam as Additional Director, bringing 20+ years of experience in Media and Finance.
- Appointment of Mr. Vijay Gulab Chand as Non-Executive Non-Independent Director, who has 31 years of total professional experience.
- Resignation of Mr. Sagar S. Sadhwani as Non-Executive Non-Independent Director effective December 12, 2025.
- Both new appointees are long-term Eros Group associates, having joined in 2002 and 2007 respectively.
- The changes are subject to shareholder approval at the upcoming Annual General Meeting.
Eros International Media Limited's board meeting on December 12, 2025, approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. Mr. Anand Shankar Kamtam and Mr. Vijay Gulab Chand were appointed as Additional Directors, subject to shareholder approval. Mr. Sagar Sadhwani resigned from his position as Non-executive Non-Independent Director, effective December 12, 2025. Investors should note the auditor's qualified conclusion regarding overdue trade receivables of ₹15,802 Lakhs from Eros Worldwide FZE and content advances of ₹1,01,601 Lakhs under SEBI scrutiny.
- Appointed Mr. Anand Shankar Kamtam as Additional Director (DIN: 02942810).
- Appointed Mr. Vijay Gulab Chand as Additional Non-Executive Non-Independent Director (DIN: 11425232).
- Mr. Sagar Sadhwani resigned as Non-Executive Non-Independent Director (DIN: 03559502) w.e.f. December 12, 2025.
- Overdue trade receivables from group entities amount to ₹15,802 Lakhs from Eros Worldwide FZE.
- Content advances include ₹1,01,601 Lakhs subject to SEBI scrutiny.
Eros International Media Limited has announced a restructuring of its Board of Directors effective December 12, 2025. The company appointed Mr. Anand Shankar Kamtam, a finance veteran with over 20 years of experience, and Mr. Vijay Gulab Chand, who brings 31 years of experience, as Additional Directors. These appointments follow the resignation of Mr. Sagar S. Sadhwani from his position as a Non-executive Non-Independent Director due to personal commitments. Both new appointees are long-term associates of the Eros Group, having joined in 2002 and 2007 respectively.
- Appointment of Mr. Anand Shankar Kamtam as Additional Director, bringing 20+ years of experience in Accounts and Finance.
- Appointment of Mr. Vijay Gulab Chand as Additional Non-executive Non-Independent Director with 31 years of total experience.
- Resignation of Mr. Sagar S. Sadhwani from the Board effective close of business hours on December 12, 2025.
- Both new directors have extensive history with the Eros Group, dating back to 2002 and 2007.
- The appointments are subject to shareholder approval at the next Annual General Meeting.
Eros International Media Limited's board meeting on December 12, 2025, approved the appointment of Mr. Anand Shankar Kamtam and Mr. Vijay Gulab Chand as Additional Directors, subject to shareholder approval. Mr. Sagar Sadhwani resigned from his position as Non-executive Non-Independent Director, effective December 12, 2025. The meeting also reviewed the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, along with the Limited Review Report. Investors should note the ongoing scrutiny and investigation by SEBI regarding content advances aggregating to ₹1,01,601 Lakhs.
- Anand Shankar Kamtam appointed as Additional Director (DIN: 02942810).
- Vijay Gulab Chand appointed as Additional Non-Executive Non-Independent Director (DIN: 11425232).
- Sagar Sadhwani resigned as Non-Executive Non-Independent Director w.e.f. December 12, 2025 (DIN: 03559502).
- Content advances aggregating to ₹1,01,601 Lakhs are under SEBI scrutiny.
- Trade receivables from group entities amount to ₹15,802 Lakhs from Eros Worldwide FZE.
Eros International Media Limited has scheduled a board meeting for December 12, 2025, to approve un-audited financial results for the quarter and half-year ended September 30, 2025. The company disclosed that its trading window has been closed since April 1, 2024, which is an unusually long period for restricted insider trading. This meeting is a critical step in providing updated financial transparency to the market. Investors will be looking for both standalone and consolidated performance metrics to assess the company's current health.
- Board meeting scheduled for December 12, 2025, to approve financial results.
- Results cover the quarter and half-year period ended September 30, 2025.
- Trading window for insiders has been closed since April 1, 2024.
- Trading window to remain closed until 48 hours after the results are officially announced.
Eros International Media Limited held its 31st Annual General Meeting on December 01, 2025, via video conferencing. Shareholders considered the Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2025. They also approved the re-appointment of Mr. Vijay Thaker and the waiver of excess remuneration to Mr. Sunil Lulla for FY 2024-2025. The company successfully repaid its debt, including interest, to the lender’s consortium of banks, during the current fiscal FY 2024-25.
- 31st Annual General Meeting held on December 01, 2025
- Remote e-voting commenced on November 27, 2025, at 9:00 AM (IST)
- E-voting concluded on November 30, 2025, at 5:00 PM (IST)
- Meeting closed at 04.15 P.M. (IST)
Financial Performance
Revenue Growth by Segment
Historical revenue grew at a CAGR of 17.5% from FY2011 to FY2016, reaching INR 1,603.6 Cr. However, current performance shows severe distress with a Loss Before Tax of INR 35.99 Cr for the period ended September 30, 2025. Segment-wise growth is not currently disclosed due to the company operating as a single reportable segment.
Geographic Revenue Split
Based on historical data, the theatrical segment contributed 43.9%, Overseas distribution accounted for 26.1%, and Television & Others contributed 30.0% of total revenue.
Profitability Margins
Historical PAT margins were 18.1% in 9M FY2017 compared to 14.1% in 9M FY2016. Q3 FY2017 PAT margins reached 30.3%. Currently, profitability is negative with a Loss Before Tax of INR 50.04 Cr for the half-year ended September 30, 2025, leading to a total erosion of net worth.
EBITDA Margin
Historical EBIT grew at a CAGR of 15.9% (FY11-FY16). Current EBITDA is severely impacted by a provision for doubtful trade receivables of INR 11.75 Cr and amortization on film rights of INR 25.17 Cr for the half-year ended September 30, 2025.
Capital Expenditure
The company reported a sale of tangible assets (net) of INR 45 Cr in the prior period. Current cash flow shows minimal investment in tangible assets as the company focuses on liquidity conservation.
Credit Rating & Borrowing
Acuité has moved the company to a 'Non-cooperation' status due to failure to submit required information for surveillance. The company has defaulted on statutory dues and faces restricted borrowing facilities due to its financial position.
Operational Drivers
Raw Materials
Film rights and content advances represent the primary 'raw materials,' with amortization of film rights costing INR 25.17 Cr (approx. 50% of total operating adjustments) for H1 FY2026.
Import Sources
Content is primarily sourced from the Indian Film Industry (Bollywood and regional markets), with significant international distribution rights managed through UK and UAE-based entities.
Key Suppliers
The company co-produces and acquires content from various Indian production houses and talent; specific vendor names for the current period are not disclosed.
Capacity Expansion
Not applicable as a media company; however, the company is focusing on 'maximizing revenue' by entering long-term contracts to monetize its existing film and music library.
Raw Material Costs
Amortization on film rights was INR 25.17 Cr for the half-year ended September 30, 2025. The company is restricting new content advances to conserve cash.
Manufacturing Efficiency
Not applicable; efficiency is measured by the ability to monetize the film library across multiple formats (Theatrical, TV, Digital).
Logistics & Distribution
Distribution is handled through theatrical releases, television syndication, and digital platforms; costs are integrated into the single reportable segment.
Strategic Growth
Growth Strategy
The company aims to stabilize operations by monetizing its extensive film and music library through long-term contracts. It is also pursuing the recovery of INR 462.19 Cr in overdue receivables from Eros Worldwide FZE to improve liquidity and address the 100% erosion of its net worth.
Products & Services
Co-production, acquisition, and distribution of Indian language films in multiple formats including theatrical, television, and digital/OTT.
Brand Portfolio
Eros International, Eros Now (implied via media world website).
New Products/Services
Focus is currently on monetizing existing library assets rather than new launches due to financial constraints.
Market Expansion
Historically focused on global distribution of Indian content; current plans are restricted to maintaining operations as a going concern.
Market Share & Ranking
Not disclosed in current documents; historically a leading player in the Indian film industry.
Strategic Alliances
The company operates through various subsidiaries including Eros International Films Private Limited and Eyeqube Studios Private Limited.
External Factors
Industry Trends
The industry is shifting toward digital monetization of film catalogues. Eros is attempting to pivot by entering long-term contracts for its library to ensure steady revenue streams amidst a 100% erosion of net worth.
Competitive Landscape
Competes with major Indian studios and global OTT platforms for content acquisition and viewer eyeballs.
Competitive Moat
The primary moat is the company's vast library of Indian language film rights. However, this moat is currently threatened by the company's inability to fund new content and the 'Going Concern' uncertainty.
Macro Economic Sensitivity
Highly sensitive to consumer discretionary spending and the health of the Indian media and entertainment sector.
Consumer Behavior
Shift toward digital consumption of films and music, which the company is trying to capture through library monetization.
Geopolitical Risks
Operations in the UK and UAE (Eros Worldwide FZE) expose the company to international regulatory and economic shifts.
Regulatory & Governance
Industry Regulations
Subject to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is currently under scrutiny for related party transactions and overdue receivables.
Environmental Compliance
Not a significant factor for media distribution; ESG costs not disclosed.
Taxation Policy Impact
The company reported a lower effective tax rate of 20.7% in historical periods; current tax impacts are minimal due to ongoing losses.
Legal Contingencies
The company has defaulted on payment of statutory dues on certain occasions. It is also 'co-operating with authorities' regarding ongoing inquiries, though specific case values are not disclosed.
Risk Analysis
Key Uncertainties
There is a 'material uncertainty' regarding the company's ability to continue as a 'Going Concern' due to a Loss Before Tax of INR 35.99 Cr and fully eroded net worth.
Geographic Concentration Risk
Significant revenue and receivable dependency on international markets, particularly the UAE and UK.
Third Party Dependencies
Extreme dependency on Eros Worldwide FZE for the recovery of INR 462.19 Cr in trade receivables.
Technology Obsolescence Risk
Risk of library value declining if not successfully transitioned to modern digital and high-definition formats.
Credit & Counterparty Risk
High credit risk; trade receivables of INR 462.19 Cr from EWW and INR 77.49 Cr from Eros UK are long overdue, with a provision of INR 11.75 Cr already made for doubtful receivables.