Tata Teleservices (Maharashtra) Limited (TTML) has reported a net loss of Rs 645.80 crores for the half year ended September 30, 2025, showing a slight improvement from the Rs 653.79 crores loss in the same period last year. The company's financial performance continues to face challenges, with declining revenue and persistent high finance costs.

Financial Highlights

Revenue and Profitability

TTML's revenue from operations declined by 14.49% year-on-year to Rs 570.38 crores for the half year ended September 30, 2025. Despite the revenue decline, the company managed to improve its EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) marginally to Rs 286.58 crores, up by 3.36% compared to the same period last year.

Financial Burden and Liquidity Concerns

The company's finance costs remained significantly high at Rs 857.88 crores, slightly increasing from Rs 851.47 crores in the previous year. This substantial interest burden continues to be a major factor contributing to the company's losses.

TTML's financial position remains challenging, with accumulated losses exceeding its paid-up capital and reserves. As of September 30, 2025, the company's current liabilities exceeded its current assets, indicating potential liquidity concerns.

Support from Parent Company

To address these financial concerns, TTML has received a support letter from its ultimate holding company. This letter indicates that the parent company will provide necessary financial backing to cover any liquidity shortfalls over the next 12 months. This support is crucial for TTML's ability to continue as a going concern.

Operational Overview

TTML operates under a Unified License, providing telecommunication services. As of September 30, 2025, the company had Commercial Papers worth Rs 990 crores outstanding.

Future Outlook

While the company has shown a slight improvement in its EBITDA and a marginal reduction in net loss, the declining revenue and high finance costs continue to pose significant challenges. The support from its parent company provides some financial stability, but TTML may need to focus on revenue growth and cost management to improve its financial health in the long term.

Investors and stakeholders will likely be closely watching TTML's efforts to improve its operations and strengthen its financial position in the coming quarters.

Tata Teleservices Maharashtra Limited (TTML) has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Nalin Rana as a Non-Executive Non-Independent Director. The company's Board of Directors had earlier appointed Mr. Rana as an Additional Director on August 7, 2025, subject to member approval.

Key Details of the Postal Ballot

• Voting Period: The e-voting period commences on September 27, 2025, at 9:00 a.m. (IST) and concludes on October 26, 2025, at 5:00 p.m. (IST).
• Cut-off Date: September 12, 2025 - Shareholders registered as of this date are eligible to participate in the e-voting process.
• E-voting Platform: National Securities Depository Limited (NSDL) will provide the remote e-voting facility.

About Nalin Rana

Mr. Nalin Rana, aged 39, brings significant experience to the TTML board:

• Currently serves as a senior leader in the Group Strategy Office of Tata Sons Private Limited since 2021.
• Previously worked as an Executive Director in the investment banking team at Standard Chartered Bank for over 12 years.
• Holds a B.Tech. in Electrical Engineering and a post-graduate management degree from IIM Indore.
• Expertise includes strategic planning, financial oversight, and executing strategic transactions, particularly in the telecom sector.

Appointment Details

• Mr. Rana's appointment is proposed as a Non-Executive Non-Independent Director, liable to retire by rotation.
• The appointment, if approved, will be effective from August 7, 2025.
• He is not related to any Director or Key Managerial Personnel of the Company.

Other Directorships and Committee Memberships

Mr. Rana also holds positions in Tata Teleservices Limited, including:

• Director
• Member of the Audit Committee
• Member of the Finance Committee
• Member of the Share Warrant Debenture Allotment & Transfer Committee

Voting Process

Shareholders can cast their votes electronically through the NSDL e-voting system. The company has emphasized the importance of registering email addresses with the company or respective Depository Participants to receive the postal ballot notice and participate in the e-voting process.

Tata Teleservices Maharashtra Limited has appointed Mr. Vaibhav Dandawate, or failing him, Ms. Deepti Kulkarni, Partners at M/s Makarand M. Joshi & Co., Practicing Company Secretaries, as the Scrutiniser to oversee the postal ballot process.

The results of the postal ballot will be announced on or before 5:00 p.m. (IST) on October 28, 2025, and will be communicated to the stock exchanges as well as posted on the company's website.

This move by Tata Teleservices Maharashtra Limited to appoint Mr. Nalin Rana reflects the company's commitment to strengthening its board with experienced professionals from diverse backgrounds. Shareholders are encouraged to participate in the e-voting process to exercise their right in this important corporate decision.