Esha Media Research Limited has announced its unaudited financial results for the quarter ended June 30, 2026. The Board of Directors approved the financial statements during a meeting held on Thursday, August 6, 2026. This filing informs shareholders and market participants of the company's performance for the first quarter of FY27.

The disclosure was made pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. Esha Media Research submitted the intimation to BSE Limited on August 7, 2026. The company also published the results in two newspapers: Active Times (English) and Mumbai Lakshadeep (Marathi), both dated August 7, 2026.

Rakesh Kumar Mudgal, Executive Director & CFO of Esha Media Research, signed the communication. He holds DIN 11624903. The filing confirms that the results have been formally recorded by the exchange.

Key Details

What the Numbers Show

The source document provides only procedural details regarding the announcement of the quarterly results. No specific financial metrics such as revenue, net profit, or EBITDA are disclosed in this filing. Investors should refer to the full financial statements published in the mentioned newspapers or available on the exchange website for detailed performance data.

Esha Media Research reported a net loss of ₹65.19 lakh for the quarter ended June 30, 2026, widening from a ₹40.70 lakh loss in the corresponding period of FY25. Revenue from operations declined to ₹48.38 lakh from ₹53.60 lakh year-on-year. The Board of Directors, meeting on August 06, 2026, also approved the allotment of 10,00,000 equity shares and 2,39,00,000 warrants on a preferential basis to raise capital amid fully eroded net worth.

The company’s total income stood at ₹48.44 lakh, while total expenses surged to ₹113.63 lakh. Employee benefits expense rose sharply to ₹68.70 lakh from ₹49.39 lakh in Q1FY25, and finance costs jumped to ₹16.18 lakh from ₹1.26 lakh. Other expenses remained relatively stable at ₹18.90 lakh compared to ₹21.76 lakh in the prior year quarter. The loss before tax was ₹65.19 lakh, with no tax expenses recorded due to accumulated losses.

Preferential Allotment Details

The Board approved the allotment of securities following in-principle approvals from BSE Limited dated July 23, 2026. Opulus Bizserve Private Limited, identified as the current promoter, received 10,00,000 equity shares at ₹15 per share and 70,00,000 warrants. The remaining warrants were allotted to non-promoter entities including Media Eagle Research LLP, Wealthwave Capital Fund, and Parijata Trading Private Limited.

Each warrant is convertible into one equity share of face value ₹10 upon payment of the balance consideration of ₹11.25. The initial subscription price was ₹3.75 per warrant, representing 25% of the issue price.

Auditor Qualifications and Going Concern

Statutory auditors S K Patodia & Associates LLP issued a qualified conclusion on the financial results. The qualification stems from an outstanding interest-free unsecured loan liability of ₹98.50 lakh borrowed from members under the erstwhile Companies Act, 1956. The company is currently regularizing non-compliances under Sections 73 and 74 of the Companies Act, 2013.

The auditors highlighted a material uncertainty regarding going concern, noting that the company’s net worth is fully eroded and current liabilities exceed current assets. Management has committed to infusing funds as required for working capital. The predecessor auditor had issued similar qualified opinions for the financial year ended March 31, 2026, and the quarter ended June 30, 2025.

What the Numbers Show

The divergence between revenue decline and expense inflation underscores operational pressure. While revenue fell by nearly 10% year-on-year, finance costs increased more than twelve-fold, suggesting higher borrowing costs or increased debt burden. The significant rise in employee benefits expense, up approximately 39%, indicates potential restructuring or retention efforts despite the financial strain. The preferential allotment aims to stabilize the balance sheet, but the qualified audit opinion signals ongoing regulatory and financial risks.