Next Mediaworks Limited has scheduled its 45th Annual General Meeting (AGM) for Tuesday, September 22, 2026. The meeting will be conducted through video-conferencing or other audiovisual means without physical presence.

Meeting Details

The AGM 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, in compliance with Ministry of Corporate Affairs circulars.

Document Access and Voting

Shareholders will receive the AGM notice and the Annual Report for FY26 exclusively via electronic mode. This applies to members with registered email addresses with the company or their Depository Participants. Those holding physical shares who have not updated their KYC details can register by submitting forms to KFitch Technologies Limited in Hyderabad.

The company has engaged National Securities Depositories Limited to facilitate remote e-voting. Shareholders acquiring shares after the notice dispatch but holding them as on the cut-off date of Tuesday, September 15, 2026, can obtain login credentials via NSDL.

Regulatory Compliance

In adherence to SEBI mandates, the company requires holders of physical securities to record PAN, nomination, contact details, bank account information, and specimen signatures. 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.