Eros International Media Limited reported a standalone net loss of ₹10,186 lakh for the year ended March 31, 2026, as revenue from operations rose to ₹2,846 lakh from ₹508 lakh in the prior year. The company's Board reviewed and approved the audited standalone and consolidated financial results at its meeting held on May 29, 2026. Statutory auditor Haribhakti & Co. LLP issued a qualified opinion on the standalone results and a disclaimer of opinion on the consolidated results, citing significant uncertainties related to overdue trade receivables, ongoing regulatory investigations, and the company's overall financial position. The company submitted newspaper clippings of these results published in "The Free Press Journal" and "Navshakti" on May 31, 2026, to comply with Regulation 47(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone Financial Performance

The standalone results for the year ended March 31, 2026 reflect continued financial stress. Total income stood at ₹5,163 lakh, while total expenses amounted to ₹15,198 lakh, resulting in a net loss before tax of ₹10,035 lakh. Other income for the year was ₹2,317 lakh. The basic and diluted loss per share stood at ₹10.62 for the year. For the quarter ended March 31, 2026, the standalone net loss was ₹6,082 lakh on total income from operations of ₹2,376 lakh.

The standalone balance sheet as at March 31, 2026 shows total assets of ₹45,273 lakh against total liabilities of ₹94,275 lakh, resulting in a total equity deficit of ₹49,002 lakh. Current liabilities of ₹68,209 lakh significantly exceed current assets of ₹42,065 lakh, underscoring the company's liquidity challenges. Other equity stood at ₹(58,593) lakh as at March 31, 2026, compared to ₹(48,411) lakh in the prior year.

Consolidated Financial Performance

On a consolidated basis, the group reported a net loss of ₹13,734 lakh for the year ended March 31, 2026, on total income of ₹6,086 lakh and total expenses of ₹19,550 lakh. The consolidated net loss before tax was ₹13,464 lakh. The consolidated basic and diluted loss per share stood at ₹14.32. The group's net worth on a consolidated basis was ₹74,387 lakh, with total consolidated assets of ₹1,79,766 lakh. For the quarter ended March 31, 2026, the consolidated net loss was ₹7,855 lakh on total income from operations of ₹2,293 lakh.

Auditor Qualifications and Going Concern

The auditor's report highlights long overdue trade receivables from group entities. The net debit balance from Eros Worldwide FZE (net of payable of ₹32,124 lakh) amounts to ₹16,688 lakh, from Eros International Limited UK (net of payable of ₹362 lakh) amounts to ₹8,184 lakh, and from Eros International USA Inc. amounts to ₹3,566 lakh. Against the aggregate net debit balance of ₹28,438 lakh, the company has made a full provision for expected credit loss. The financial impact of these receivables remains unascertainable pending approvals from the Reserve Bank of India (RBI) for net remittance. Additionally, content advances aggregating to ₹1,01,601 lakh are under scrutiny by the Securities and Exchange Board of India (SEBI).

A material uncertainty related to the company's ability to continue as a going concern has been flagged by the auditor. The company's net worth has been entirely eroded on a standalone basis, and current liabilities exceed current assets. Management stated that the going concern assumption is dependent on raising funds through the monetisation of film and music library rights, recovery of dues from group entities, and other strategic initiatives. The consolidated auditor's disclaimer of opinion was also driven by the non-availability of financial statements for subsidiary Colour Yellow Production Private Limited (CYPPL), which was excluded from consolidation. The company has filed a petition before the National Company Law Tribunal (NCLT) regarding CYPPL, and following the dismissal of its petition, is in the process of filing an appeal before the National Company Law Appellate Tribunal (NCLAT).

Regulatory and Governance Updates

The company continues to face regulatory challenges stemming from SEBI's Interim Ex-Parte Order dated June 22, 2023, and the subsequent Confirmatory Order dated October 13, 2023. The Securities Appellate Tribunal (SAT) disposed of the company's appeal, directing SEBI to issue a Show Cause Notice (SCN). A Show Cause Notice dated July 16, 2024, was received by the company on July 18, 2024. The company has filed an appeal before SAT against SEBI's inaction regarding disclosure of materials relied upon in the SCN, which was heard on June 24, 2025, and the matter is currently listed for further hearing in June 2026. A search operation was also conducted by the Enforcement Directorate at the company's registered office under Section 37(3) of the Foreign Exchange Management Act, 1999, which concluded on February 06, 2025. The company stated it continues to cooperate with the authorities.

In a separate governance development, the Board at its May 29, 2026 meeting approved the appointment of Patni Mandhana & Associates as Internal Auditor for the year 2026-27, C. R. Bhagwat & Associates as Secretarial Auditor for the financial year 2026-27, and Walker Chandiok & Co. LLP for Transfer Pricing services for the financial year 2025-26.

Eros International Media Limited has announced that its board of directors will meet on Friday, May 29, 2026. The primary agenda of the meeting is to consider and approve the audited standalone and consolidated financial results of the company for the quarter and year ended March 31, 2026. The board will also discuss any other matters with the permission of the chair.

In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the company has closed its trading window. The window for dealing in the company's securities was closed from April 01, 2026, and will remain closed until 48 hours after the announcement of the financial results, which is up to May 31, 2026.

The intimation regarding the board meeting and the closure of the trading window was addressed to the stock exchanges, BSE Limited and National Stock Exchange of India Limited. The company's scrip codes are 533261 on the BSE and EROSMEDIA on the NSE.

Meeting Details

The following table summarizes the key details regarding the upcoming board meeting and the trading window closure:

The board meeting is being held in accordance with Regulation 29(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The approval of the audited financial results is a standard regulatory requirement for listed companies at the end of a financial year.