Cinevista will consider a full write-off of investments and loans in three subsidiaries during its board meeting on September 22, 2026. The company plans to make a 100% provision for Expected Credit Losses (ECL) on outstanding advances and a 100% impairment allowance on long-term equity holdings.

The action targets Chimera Entertainment Private Limited, Heritage Productions Private Limited, and Cinevista Eagle Plus Media Private Limited. These entities have been non-operational with no business activity for the last 10 consecutive years. The board seeks approval to voluntarily strike off Chimera Entertainment and Heritage Productions following the write-off.

Regulatory Compliance and Audit Review

The proposal follows recommendations from the Audit Committee, which reviewed the financial evaluation earlier on September 17, 2026. The assessment was prepared in accordance with Indian Accounting Standards Ind AS 27 and Ind AS 109. The committee noted that the net worth of all three subsidiaries is completely eroded.

The subsidiaries possess nil or negligible realizable assets. There are no outstanding external commercial debts or pending statutory liabilities against them. The board meeting is scheduled for 2:00 pm at the company’s registered office in Mumbai.

What the Numbers Show

The decision to apply a 100% provision reflects the total loss of value in these downstream entities. With zero business activity over a decade and no realizable assets, the write-off serves as a balance sheet cleanup measure rather than an operational loss from active business segments.

Cinevista Limited Cinevista reported a sharp rise in top-line growth for the first quarter of FY27, with consolidated revenue jumping 62% year-on-year to ₹74.9 lakh. The Mumbai-based media and real estate company saw its net profit hold steady at ₹100.1 lakh, compared to ₹99.5 lakh in Q1FY26.

The Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, in a meeting held on August 12, 2026. The results were reviewed by the Audit Committee and subsequently approved by the Board.

Financial Performance

Revenue from operations grew significantly, driven primarily by the company's real estate business. The media business contributed minimally to the total income.

Note: Figures are in ₹ Lakhs. Standalone and Consolidated figures are identical.

Segment-wise Breakdown

The real estate segment remains the primary revenue driver, accounting for ₹74.7 lakh of the total revenue. The media business generated ₹1.7 lakh in revenue during the quarter.

While the real estate segment posted a profit before tax and interest of ₹234.3 lakh, the media business incurred a loss of ₹8.1 lakh. This divergence highlights the continued reliance on the joint development agreement with K Raheja Corp Real Estate Private Limited for profitability.

What the Numbers Show

A key observation is the structural shift in the cost base. Finance costs dropped sharply by 45% to ₹49.4 lakh from ₹90.3 lakh in the previous year's corresponding quarter. Despite this significant reduction in interest burden, net profit remained nearly flat. This indicates that the bulk of the operating profit generated—particularly from the real estate segment—is being offset by other unallocable expenditures or deferred tax provisions. Specifically, deferred tax expense stood at ₹75.1 lakh, consuming a substantial portion of the pre-tax profit.

Balance Sheet and Other Developments

The company disclosed that it has elected to apply the revaluation model under Ind AS 16 to its class of freehold land at Kanjurmarg, Mumbai. The revaluation reserve on this land has been transferred to retained earnings, with no impact on the Profit & Loss account.

Additionally, Cinevista noted that it has launched various YouTube channels and created content, expecting a decent flow of revenue in coming years as views and subscribers grow. The consolidated results include figures from subsidiaries Cinevista Eagle Plus Media Pvt. Ltd. and Chimera Entertainment Pvt. Ltd., as well as associate Heritage Productions Pvt. Ltd., all of which reported nil revenue and profit for the quarter.