SAB Events & Governance Now Media Limited announced its Q3FY26 financial results during a board meeting held on February 5, 2026, showing a return to profitability with a profit of ₹13.12 lakhs for the quarter ended December 31, 2025. The company recovered from the loss of ₹14.01 lakhs recorded in the previous quarter, marking a significant quarterly improvement.

Financial Performance Overview

The company's quarterly performance demonstrated mixed results across key financial metrics:

While achieving profitability in Q3FY26, revenue from operations declined by 19.75% compared to the previous quarter. The significant contribution from other income of ₹43.59 lakhs helped boost total income to ₹87.93 lakhs.

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, presented ongoing challenges for the company:

Despite recording a loss of ₹25.19 lakhs for the nine-month period, the company showed improvement compared to the loss of ₹43.64 lakhs in the corresponding period of the previous year.

Board Meeting and Regulatory Compliance

The Board of Directors, during their meeting held on February 5, 2026, from 12:03 PM to 12:30 PM, considered and approved the unaudited financial results on the recommendation of the Audit Committee. The meeting was conducted in compliance with Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership Changes

The board announced that Mr. Shailendra Mishra (DIN: 07373830) will cease to be an Independent Director effective February 9, 2026, upon completion of his second consecutive term. Mr. Mishra does not hold any shares in the company.

Operational Challenges and Going Concern Issues

The company faces significant operational challenges that raise concerns about its ability to continue as a going concern. Current liabilities are 3.74 times higher than current assets, and the company is unable to service its debt obligations effectively. The auditors have highlighted material uncertainty regarding the company's ability to continue operations unless it can generate positive cash flows and secure sufficient long-term funding.

Insolvency Resolution Process

A critical development affecting the company is the ongoing Pre-Packaged Insolvency Resolution Process (PPIRP). The company filed a petition before the National Company Law Tribunal (NCLT), Mumbai bench, under Section 54C of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on November 4, 2025, though the impact on the company's financial results remains unascertainable at present.

Auditor Observations

The statutory auditors issued a qualified review report, highlighting several concerns including potential impairment of goodwill valued at ₹2.64 lakhs and unprovided interest expenses of approximately ₹6.04 lakhs for the quarter. The auditors emphasized the material uncertainty related to the company's going concern status and the ongoing insolvency resolution process.

SAB Events & Governance Now Media Limited , a company operating in the digital media, websites, and MICE (Meetings, Incentives, Conferences, and Exhibitions) sectors under the Governance Now brand, continues its Pre-Packaged Insolvency Resolution Process (PPIRP) with the announcement of its third Committee of Creditors meeting.

Latest Development: Third CoC Meeting Notification

On January 19, 2026, SAB Events & Governance Now Media Limited informed the stock exchanges about its upcoming 3rd Committee of Creditors meeting. The meeting is scheduled for Friday, January 23, 2026, at 04:30 P.M., in accordance with Section 54(I) and other applicable provisions of the Insolvency and Bankruptcy Code, 2016.

Meeting Agenda and Purpose

The primary agenda for the upcoming meeting includes the approval and ratification of PPIRP costs incurred by the Resolution Professional from the 2nd CoC Meeting till the date of this meeting. This represents a continuation of the structured insolvency resolution process that began earlier.

Previous PPIRP Milestones

The company's insolvency resolution journey has progressed through several key stages:

Formation of Committee of Creditors

On November 24, 2025, SAB Events & Governance Now Media Limited constituted a Committee of Creditors under Section 54(I)(1) of the Insolvency and Bankruptcy Code, 2016. This development followed the admission order received from the National Company Law Tribunal (NCLT) Mumbai Bench on November 11, 2025.

First Committee of Creditors Meeting

The company held its first Committee of Creditors meeting on December 1, 2025. During this meeting, several important decisions were made including approval of the Resolution Professional, appointment of registered valuers, appointment of a transaction auditor, ratification of PPIRP costs, and approval for the circulation of Information Memorandum to creditors.

Financial Position and Debt Structure

The company's financial distress was exacerbated by the COVID-19 pandemic and its restrictions on public gatherings. The current debt structure shows:

Resolution Plan Framework

Under the proposed resolution plan, financial creditors will receive ₹2.00 crores within 90 days, representing a full settlement of their claims. A moratorium has been declared, prohibiting any legal proceedings against the company during the resolution process.

Business Impact and Recovery

The company's MICE vertical, which organized on-ground events, was severely impacted by the pandemic, with operations coming to a complete halt during the peak of COVID-19. The business has not fully recovered since then, leading to the current insolvency proceedings.

The upcoming third Committee of Creditors meeting represents another step forward in SAB Events & Governance Now Media Limited's structured approach to resolving its financial challenges through the Pre-Packaged Insolvency Resolution Process.