Mrs. Garima Bharadwaj has resigned from the position of Non-Executive Independent Woman Director of Diligent Media Corporation Limited effective June 5, 2026. The resignation, submitted to the stock exchanges, is due to personal reasons and other professional commitments. Consequently, she has also ceased to be a member and chairperson of the Board's committees.

The company informed the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation became effective from the close of business hours on June 5, 2026.

Mrs. Bharadwaj confirmed that there are no material reasons for her resignation other than those disclosed in her letter. She expressed gratitude to the Board and management for their support during her tenure.

The following table details the particulars of the change in directorship:

Diligent Media Corporation Limited reported a net loss of ₹887.54 lakh for the financial year ended March 31, 2026, as revenue from operations declined to ₹650.88 lakh. The company’s Board of Directors approved the annual audited financial results for the fourth quarter and fiscal year 2026 at a meeting held on May 28, 2026. The results, prepared under Ind-AS, were audited by M/s MGB & Co. LLP, Chartered Accountants, the Statutory Auditors of the Company.

The company published these audited financial results in two newspapers, the English daily "Free Press Journal" and the Marathi daily "Navshakti", on May 29, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board also approved the appointment of Mr. Priyadarshan Garg as the Chief Executive Officer (CEO), designated as Key Managerial Personnel, effective June 1, 2026, based on the recommendation of the Nomination and Remuneration Committee.

Financial Performance

The company recorded a total income of ₹706.38 lakh for FY26, a significant decrease from ₹2,692.11 lakh in the previous year. Total expenses for the year stood at ₹942.48 lakh. For the quarter ended March 31, 2026, the company reported a net loss of ₹602.37 lakh on a total income of ₹195.54 lakh.

Audit Qualifications and Going Concern

The statutory auditors issued a report with a modified opinion, primarily concerning inter-corporate deposits (ICDs) granted to Veena Investments Private Limited (VIPL). The outstanding balance of these ICDs is ₹17,340.27 lakh as of March 31, 2026. The company noted that an Arbitration Award directed the set-off of these ICDs against Non-cumulative Non-convertible Redeemable Preference Shares (NCRPS) held by VIPL. A Scheme of Reduction and cancellation of NCRPS Capital has been filed with the exchanges and is pending approval.

The company also reported a negative net worth as of March 31, 2026. However, the management stated that current assets exceeded current liabilities and expressed confidence in the company's ability to meet obligations based on its business plan, cost rationalization measures, and projected positive cash flows. Consequently, the financial statements have been prepared on a going concern basis.

Regulatory and Other Disclosures

The company disclosed that it received a Show Cause Notice from SEBI in February 2026 and has filed an Application for Settlement under the SEBI (Settlement Proceedings) Regulations, 2018. Additionally, the company has received GST demand orders aggregating to ₹6,856.37 lakh, against which it has filed writ petitions before the Hon'ble High Court.