Eros International Media Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following the board meeting held on February 13, 2026. The company reported significant losses in both standalone and consolidated financials, reflecting ongoing operational challenges and regulatory uncertainties.

Financial Performance Overview

The company's standalone operations showed mixed revenue performance but continued profitability challenges during the reporting period.

For the nine months ended December 31, 2025, the company reported total income of ₹2,787 lakhs compared to ₹8,636 lakhs in the corresponding previous period, representing a decline of 67.73%.

Consolidated Results

The consolidated financial results, which include subsidiaries, showed similar challenging trends with operational losses across the group.

Regulatory and Operational Challenges

The company continues to face significant regulatory scrutiny and operational challenges that impact its financial performance. Trade receivables from group entities remain a major concern, with long overdue amounts totaling ₹26,928 lakhs (net) from various international subsidiaries including Eros Worldwide FZE, Eros International Limited UK, and Eros International USA Inc. The company has made provisions of ₹25,884 lakhs for expected credit losses up to March 31, 2025, with an additional provision of ₹1,043 lakhs made during the current period.

SEBI proceedings continue to pose uncertainty, with the company responding to show cause notices and awaiting the outcome of ongoing investigations. Additionally, search operations by the Enforcement Directorate under the Foreign Exchange Management Act concluded on February 06, 2025.

Going Concern Considerations

The auditors have highlighted material uncertainty regarding the company's ability to continue as a going concern, noting that the company has incurred a net loss before tax of ₹3,953 lakhs for the nine months ended December 31, 2025, and its net worth has been fully eroded. The company is implementing various measures including cost-saving initiatives, monetization of film/music library rights, and recovery of overdue receivables to address liquidity challenges.

Auditor's Qualified Opinion

Haribhakti & Co. LLP, the statutory auditors, issued qualified conclusions on both standalone and consolidated results, citing concerns over trade receivables from group entities, ongoing SEBI investigations, and the exclusion of one subsidiary (Colour Yellow Production Private Limited) from consolidation due to unavailability of financial information.

Eros International Media Limited has officially filed regulatory intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, announcing comprehensive board restructuring effective December 12, 2025. The changes involve two new director appointments and one resignation, approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee.

New Director Appointments

The company has appointed two experienced professionals from within the EROS Group ecosystem to strengthen its board composition:

Mr. Anand Shankar Kamtam brings over 20 years of experience in Accounts Finance and Media Film Industry. The commerce graduate from Mumbai University and Inter C.A. has been associated with the EROS Group since May 2002. During his tenure as Group Financial Controller (India), he made significant contributions to the company's Accounts and Finance functions, playing a key role in strengthening operations and contributing effectively to overall financial management.

Mr. Vijay Gulab Chand holds a postgraduate degree in commerce and currently serves as Director of Eros Worldwide FZE since February 2018. With 31 years of total experience, including over 13 years in India working with various companies in corporate financial services, import and export, he joined the EROS group in Dubai in 2007. His responsibilities include overseeing day-to-day operations, administrative tasks, coordination with overseas group companies, documentation, regulatory compliance, and general administration.

Board Departure and Resignation Details

The company accepted the resignation of Mr. Sagar S. Sadhwani (DIN: 03559502) from his position as Non-executive Non-Independent Director. In his resignation letter dated December 12, 2025, Mr. Sadhwani cited personal reasons and other commitments as the basis for his decision.

Regulatory Compliance and Stock Exchange Filing

The company has completed all necessary regulatory filings with both stock exchanges where its shares are listed:

Both new appointees have confirmed they are not debarred from holding office as Directors by virtue of any SEBI Order or other regulatory authority. The appointments reflect the company's strategy of leveraging internal expertise from its group ecosystem while maintaining strong governance standards. All changes are subject to shareholder approval at the company's ensuing Annual General Meeting.