Vashu Bhagnani Industries has approved the direct listing of its equity shares on the National Stock Exchange of India Limited. The board of directors cleared the proposal during a meeting held on September 21, 2026.

The company, formerly known as Pooja Entertainment and Films Limited, will list its shares without any public offer or further issuance. This structure allows existing shareholders to trade their holdings on the exchange directly.

Listing Process

The board approved the proposal subject to receipt of necessary approvals from the NSE. Vashu Bhagnani Industries will submit an application to the exchange in due course. The company will provide additional information or disclosures as required under applicable laws.

The board meeting began at 3:00 pm and concluded at 3:30 pm. Shweta Ramesh Soni, the company secretary and compliance officer, signed the communication to the BSE Limited.

Corporate Details

The entity operates under CIN L68100MH1986PLC040559. Its registered office is located in Mumbai. The company previously traded under the scrip code 532011 and ID POOJAENT on the BSE.

Vashu Bhagnani Industries Limited reported a sharp rise in standalone net profit for the financial year ended March 31, 2026. The company posted a profit after tax of ₹140.66 lakh, a significant increase from ₹27.70 lakh in the previous year.

The Mumbai-based media and entertainment firm also announced that it has completed the conversion of all outstanding equity convertible warrants into equity shares during the year. This move strengthens its capital base without increasing debt obligations.

Financial Performance

Standalone revenue from operations declined to ₹709.22 lakh in FY26, down from ₹911.03 lakh in FY25. However, total revenue rose slightly to ₹996.46 lakh, aided by a substantial increase in other income. Consolidated total revenue grew 3.8% year-on-year to ₹1,721.07 lakh from ₹1,658.15 lakh.

On a consolidated basis, the profit before tax fell to ₹378.35 lakh from ₹613.19 lakh. The consolidated net profit attributable to owners of the company was ₹315.79 lakh, compared to ₹622.82 lakh in the prior year.

What the Numbers Show

The surge in standalone profitability was not driven by core film production revenue, which contracted by 22%. Instead, the improvement stems from a combination of reduced operating costs and non-operational gains. Total expenses dropped 11% to ₹806.94 lakh, while other income jumped nearly eight-fold to ₹287.24 lakh, largely due to the write-back of sundry credit balances amounting to ₹246.89 lakh. This indicates that the bottom-line growth is heavily influenced by one-time accounting adjustments rather than operational efficiency in its primary business segment.

Corporate Developments

During FY26, the company converted the remaining 85.15 lakh equity convertible warrants into equity shares upon receipt of the outstanding issue price. Consequently, there are no outstanding warrants pending conversion as of the balance sheet date. The paid-up share capital stands at ₹639.54 million.

The Board of Directors did not recommend any dividend for the financial year ended March 31, 2026. The company also noted its collaboration with Pooja Leisure and Lifestyle for real estate development, specifically the "Pooja Luminaire" project in Juhu, Mumbai.