Picturehouse Media Limited has reported a significant turnaround in its Q3 FY26 financial performance, posting a net profit of Rs 35.71 lakhs compared to a loss of Rs 28.94 lakhs in the corresponding quarter of the previous year. The results for the quarter ended December 31, 2025, were approved by the Board of Directors on February 12, 2026.

Financial Performance Overview

The company's standalone financial results demonstrate a marked improvement in profitability despite operational challenges. Total income for Q3 FY26 reached Rs 158.78 lakhs, entirely comprising other income, as revenue from operations remained nil during the quarter.

Nine-Month Performance

For the nine months ended December 31, 2025, the company reported net profit of Rs 32.96 lakhs against a loss of Rs 137.86 lakhs in the corresponding period of the previous year. Total income for the nine-month period stood at Rs 429.06 lakhs compared to Rs 6.83 lakhs in the previous year.

Consolidated Results

The consolidated financial results showed even stronger performance, with net profit of Rs 41.70 lakhs in Q3 FY26 compared to Rs 1.68 lakhs in Q3 FY25. Consolidated total income reached Rs 514.89 lakhs, driven primarily by other income of Rs 514.89 lakhs.

Operational Challenges and Auditor Concerns

Despite the improved financial performance, the company faces significant operational challenges. The auditors have raised qualified concerns regarding inventory valuation of Rs 3,012.31 lakhs, which mainly comprises payments to artistes and co-producers. The auditors question the realizability of Rs 2,879.84 lakhs of this inventory.

The company maintains a negative net worth of Rs 4,040.79 lakhs as of December 31, 2025, raising going concern issues. However, management remains confident about future revenue generation through movie production projects and strategic initiatives.

Film Production Activities

During the quarter, the company engaged in production of three films, with costs included in inventory as film production-in-progress. The company has advance payments to artistes and technicians for future movie productions, reflecting its continued focus on content creation despite financial constraints.

Subsidiary Performance

PVP Capital Limited, the wholly owned subsidiary, continues to face challenges with negative net worth of Rs 613.47 lakhs and has surrendered its NBFC registration. The auditors have expressed concerns about the carrying value of the Rs 2,521.74 lakhs investment in this subsidiary.

Picturehouse Media Limited , a prominent player in the media industry, has announced a significant change in its key management personnel. Rajesh Kumar Samal, who served as the Company Secretary and Compliance Officer, has tendered his resignation, effective October 13, 2025.

Resignation Details

The company disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Here are the key details of the resignation:

Implications and Next Steps

Mr. Samal's departure carries several implications for Picturehouse Media Limited:

1. Key Managerial Personnel: With this resignation, Rajesh Kumar Samal will cease to be a Key Managerial Personnel under Section 203 of the Companies Act, 2013.

2. SEBI Regulations: He will no longer be responsible for determining the materiality of events or transactions for disclosures to the Stock Exchange under Regulation 30(5) of the SEBI (Listing Obligation & Disclosure Requirement) Regulations, 2015.

3. Board's Response: The Board of Directors has accepted Samal's resignation and instructed the completion of necessary formalities related to his departure.

4. Transition: The company has not yet announced a successor for these crucial compliance and secretarial responsibilities.

This change in key personnel comes at a time when corporate governance and regulatory compliance are increasingly under scrutiny in the Indian corporate landscape. The role of Company Secretary and Compliance Officer is vital in ensuring that a company adheres to various statutory and regulatory requirements.

Picturehouse Media Limited will need to fill this position promptly to maintain smooth operations and ensure continued compliance with regulatory standards. The company's ability to quickly find a suitable replacement will be crucial in maintaining investor confidence and regulatory adherence.

As the media industry continues to evolve, strong corporate governance remains a key factor for companies like Picturehouse Media Limited. The incoming Company Secretary and Compliance Officer will play a critical role in navigating the company through the complex regulatory environment of the media sector.