Next Mediaworks has dispatched letters to shareholders who have not registered their email addresses with the company or its depository participants. The letters provide a direct weblink to access the Annual Report for FY26 and the notice for the 45th Annual General Meeting (AGM). This move ensures compliance with SEBI Listing Regulations regarding document delivery.

AGM Schedule and Format

The 45th AGM is scheduled for Tuesday, September 22, 2026. The meeting will be conducted through video-conferencing or other audiovisual means without physical presence, in adherence to Ministry of Corporate Affairs circulars. It is set to begin at 11:00 am Indian Standard Time. The company’s registered office in Mumbai will be deemed the venue for this virtual meeting.

Document Access for Shareholders

Shareholders with registered email addresses will receive the AGM notice and Annual Report electronically. For those without registered emails, the company sent physical letters containing the specific web path to these documents on August 27, 2026. The documents are also hosted on the company’s website under the investor relations section.

Voting and Cut-off Date

National Securities Depositories Limited has been engaged to facilitate remote e-voting. Shareholders who acquire shares after the notice dispatch but hold them as on the cut-off date of Tuesday, September 15, 2026, can obtain login credentials via NSDL. The record date for determining eligibility for the AGM was fixed as Friday, August 21, 2026, for the purpose of identifying shareholders without registered email addresses.

Regulatory Compliance

The dispatch aligns with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In addition, the company requires holders of physical securities to update their PAN, nomination, contact details, bank account information, and specimen signatures as per SEBI mandates. These forms are available on the company’s website.

Next Mediaworks Limited reported a standalone net loss of ₹88 lakh for the quarter ended June 30, 2026 (Q1FY26), a reduction from the ₹117 lakh loss recorded in the corresponding quarter of FY25. The Board of Directors approved the unaudited financial results on July 31, 2026, alongside a critical disclosure that the company is no longer a going concern. With no active business operations or operating cash flows, the firm’s future viability remains uncertain as it grapples with significant accumulated losses and a fully eroded net worth.

The statutory auditors, S.R. Batliboi & Associates LLP, issued an unmodified review conclusion on the financial statements but highlighted management’s assessment regarding the going concern assumption. The company’s ability to settle its inter-corporate borrowing from Next Radio Limited, which is contractually due for repayment in August 2027, is deemed uncertain. Consequently, assets and liabilities have been stated at values management expects to realize or settle under prevailing circumstances, rather than under normal business conditions.

Financial Performance

The company recorded zero revenue from operations for the quarter, reflecting its lack of active business activities. Total income stood at ₹9 lakh, derived entirely from other income, compared to nil in the corresponding quarter of FY25. Expenses were dominated by finance costs, which amounted to ₹117 lakh, slightly higher than the ₹110 lakh incurred in Q1FY25. Other expenses remained minimal at ₹5 lakh.

The loss before tax decreased to ₹113 lakh from ₹117 lakh year-over-year. A current tax credit of ₹25 lakh, arising from the finalization of assessments for previous years, further reduced the net loss to ₹88 lakh. This compares to a total comprehensive loss of ₹1,074 lakh for the full year ended March 31, 2026.

What the Numbers Show

The primary driver of the reduced loss is not operational improvement but rather a favorable tax adjustment. With zero revenue and persistent finance costs exceeding ₹110 lakh per quarter, the company’s core economics remain deeply negative. The EBITDA, calculated as loss before finance costs, depreciation, and tax, turned marginally positive at ₹4 lakh in Q1FY26, compared to a ₹7 lakh loss in Q1FY25. However, this metric is misleading given the absence of any revenue generation; the positive figure stems solely from other income offsetting minor operational expenses. The continued erosion of equity, now standing at negative ₹10,225 lakh excluding revaluation reserves, underscores the severity of the financial distress.

The paid-up equity share capital remains unchanged at ₹6,689 lakh. The basic and diluted loss per share was ₹0.13, improving from ₹0.17 in the previous year. Management has yet to finalize a future course of action, leaving shareholders without clarity on restructuring or liquidation plans.