Sea TV Network reported a significantly narrower standalone loss for the financial year ended March 31, 2026 (FY26), while its consolidated operations turned profitable for the first time in two years.

The company’s standalone net loss fell 63.59% year-on-year to ₹150.04 lakh from ₹412.07 lakh in FY25. On a consolidated basis, the group posted a net profit of ₹51.78 lakh, reversing a loss of ₹74.91 lakh recorded in the previous fiscal year.

Financial Performance

Standalone revenue from operations declined 8.33% to ₹562.55 lakh from ₹613.69 lakh in FY25. However, total income rose 5.44% to ₹692.43 lakh, supported by a more than doubling of other income to ₹129.88 lakh from ₹43.03 lakh.

The improvement in profitability was primarily driven by a sharp reduction in operating expenses. Total expenditure fell 19.38% to ₹842.47 lakh from ₹1,044.95 lakh. Other expenses dropped 32.01% to ₹321.67 lakh, while employee benefit expenses decreased 6.37% to ₹493.84 lakh.

On a consolidated basis, revenue from operations fell 3.50% to ₹863.45 lakh from ₹1,152.38 lakh. Despite the revenue decline, total expenses contracted 10.99% to ₹1,192.35 lakh, enabling the group to report a profit before tax of ₹51.17 lakh.

What the Numbers Show

The divergence between standalone and consolidated results highlights the critical role of subsidiaries in the group's current financial health. While the holding company continues to incur operational losses, the consolidated profit indicates that subsidiaries—specifically Jain Telemedia Services Limited and Sea News Network Limited—are generating sufficient surplus to offset the parent's deficits. Additionally, the standalone EBITDA margin improved significantly to -17.85% from -52.62%, signaling better cost control relative to revenue despite the top-line decline.

Audit Qualification and Going Concern

Statutory auditors Doogar & Associates issued a qualified opinion on the standalone financial statements. The qualification relates to the non-recognition of interest expense amounting to ₹233.14 lakh on unsecured loans. Management stated that due to financial constraints, it is unable to service these interest obligations and is seeking restructuring or waivers from lenders. No formal waiver has been executed as of the reporting date.

The auditors also highlighted material uncertainty regarding the company’s ability to continue as a going concern, citing negative net worth of ₹4,023.89 lakh and current liabilities exceeding current assets by ₹1,751.77 lakh.

Governance Changes

The board underwent significant changes during the year. Mr. Ashok Kumar Jain and Ms. Anupriya Goyal were appointed as independent directors effective August 16, 2025, replacing Mr. Narendra Kumar Jain and Mr. Rajeev Kumar Jain, who resigned in September 2025. Mr. Manish Jain was appointed as Chief Financial Officer effective March 30, 2026, succeeding Mr. Harshit Jain.

Sea TV Network has issued the notice for its 22nd Annual General Meeting (AGM), scheduled for Monday, September 28, 2026. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means (OAVM) starting at 10:00 am.

The Board approved the closure of its cable business operations and authorized investments up to ₹100 crore during a meeting held on September 3, 2026. This investment limit requires shareholder approval under Section 186 of the Companies Act, 2013.

Key Agenda Items

The AGM will transact both ordinary and special business:

• Adoption of Financials: Shareholders will consider and adopt the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026.
• Director Re-appointments: Mrs. Sonal Jain and Shri Neeraj Jain retire by rotation and have offered themselves for re-appointment as Directors.
• Investment Authorization: A special resolution seeks approval for loans, guarantees, or securities acquisition up to ₹100 crore outstanding at any time.

Governance and Logistics

The Register of Members and Share Transfer Books will remain closed from September 21 to September 28, 2026. The cut-off date for voting eligibility is September 21, 2026.

Remote e-voting via CDSL will run from September 25 at 9:00 am to September 27 at 5:00 pm. M/s. Ashutosh Agarwal & Co., Chartered Accountants, was appointed as Internal Auditor for FY27 based on Audit Committee recommendations.

Audit Observations

The Statutory Auditor reported non-payment of interest on unsecured loans, which Directors clarified. The Secretarial Auditor noted penalties arising from delays in statutory compliances, which management has addressed.

What the Numbers Show

The authorization of a ₹100 crore investment limit under Section 186 of the Companies Act, 2013, signals significant capital deployment capacity despite the simultaneous closure of the cable business. This suggests the company may be reallocating resources toward other segments or strategic initiatives not detailed in this filing.