BAG Films & Media will hold its 33rd Annual General Meeting on Thursday, September 17, 2026, at 4:00 pm via video conferencing. The meeting aims to transact ordinary and special business, including the approval of material related party transactions totaling approximately ₹450 crore for FY27.

The corporate action aligns with regulations issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. Shareholders recorded in the register of members or beneficial owners register on September 10, 2026, can vote. The remote e-voting period commences on Sunday, September 13, 2026, at 9:00 am and ends on Wednesday, September 16, 2026, at 5:00 pm.

Meeting Details

The company has fixed September 10, 2026, as the cut-off date to identify members eligible for remote e-voting and quorum reckoning. The register of members and share transfer register will remain closed from Friday, September 11, 2026, to Thursday, September 17, 2026.

Voting Process

Members can cast votes via remote e-voting or during the meeting using the e-voting system facilitated by National Securities Depositories Limited (NSDL). The notice and annual report for FY26 are available electronically to those with registered email addresses. Physical shareholders must submit specific forms to the Registrar and Share Transfer Agent, Alankit Assignments Limited, to register their details.

Agenda Highlights

The AGM agenda includes several key resolutions:

• Adoption of Financial Statements: Approval of audited financial statements for the financial year ended March 31, 2026.
• Director Reappointments: Reappointment of Sudhir Shukla as a director liable to retire by rotation and Chandan Kumar Jain as an independent director for a second term of five years.
• Related Party Transactions (RPTs): Approval of material related party transactions with subsidiaries and promoter group companies for FY27.

Related Party Transactions

The company seeks shareholder approval for omnibus approvals of related party transactions totaling approximately ₹450 crore across various entities for FY27. These transactions include services rendered/availed, financial assistance, and corporate guarantees.

Additional inter-subsidiary transactions between News24 and E24 with B.A.G. Live Entertainment Limited, Skyline Tele Media Services Limited, and B.A.G. Convergence Limited are also proposed, with aggregate values ranging from ₹20 crore to ₹70 crore per transaction pair.

What the Numbers Show

The proposed related party transactions highlight the integrated nature of BAG Films' media ecosystem. With subsidiaries like News24 and E24 accounting for significant portions of the proposed transaction values, the company relies heavily on internal synergies for broadcasting, content distribution, and financial support. The aggregate value of these transactions underscores the operational interdependence between the listed entity and its promoter group affiliates.

BAG Films & Media reported a consolidated net profit of ₹84.08 crore for the quarter ended June 30, 2026, a decline of 13% from ₹96.54 crore in the same quarter of the previous fiscal year. The company’s consolidated total income from operations grew by 12.7% to ₹3,887.7 crore, up from ₹3,449.1 crore in Q1FY26.

The Board of Directors approved the unaudited standalone and consolidated financial results during its meeting held on August 14, 2026. The results were reviewed by the Audit Committee in accordance with Regulation 33 read with Regulation 47(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

Consolidated net profit before tax stood at ₹418.11 crore, compared to ₹279.10 crore in Q1FY25. The pre-tax margin expanded significantly, reflecting improved operational leverage despite the lower post-tax bottom line. Standalone net profit after tax was ₹93.48 crore, up from ₹78.99 crore in the corresponding quarter last year.

Standalone total income from operations reached ₹1,036.6 crore, an increase of 10.6% over ₹937.0 crore in Q1FY26. Standalone earnings per share (EPS) were ₹0.04, matching the ₹0.04 recorded in the prior year quarter.

What the Numbers Show

A notable divergence exists between the pre-tax and post-tax performance in the consolidated books. While consolidated net profit before tax surged nearly 50% to ₹418.1 crore, the net profit after tax fell 13% to ₹84.1 crore. This suggests that tax provisions or other non-operating charges absorbed a significant portion of the operational gains, reducing the final take-home profit for shareholders despite robust top-line and pre-tax growth.