Zee Media Corporation Limited , a prominent player in the news publishing and broadcasting business, has reported no fund utilization during the second quarter, according to its latest monitoring agency report. The company, which had raised Rs. 200 crore through a preferential issue of fully convertible equity share warrants in October-November, is facing financial headwinds and market challenges.

Key Financial Highlights

• No funds were utilized during Q2 from the Rs. 200 crore raised through preferential issue.
• The company incurred a loss of Rs. 3,024.00 lakhs for the half-year ended September 30.
• Consolidated revenue from operations stood at Rs. 36,108.00 lakhs for H1.
• Working capital remains negative, raising concerns about the company's financial stability.

Fund Utilization and Market Concerns

CARE Ratings Limited, the appointed monitoring agency, reported that no funds were received or utilized during the quarter ended September 30. The agency highlighted that the current market price per equity share is lower than the warrant exercise price, which may affect the viability of the intended use of funds.

Financial Performance

The company's financial results paint a challenging picture:

Going Concern and Future Outlook

Despite the current financial challenges, Zee Media's management remains optimistic about the company's future. The Board of Directors has approved a business plan aimed at securing higher revenues and improving operational cash flows. The company is also undertaking cost rationalization measures and has obtained credit period extensions to manage its contractual obligations.

Capital Infusion Plans

To strengthen its financial position, Zee Media has initiated several capital infusion measures:

1. Allotment of 13,33,33,333 fully convertible warrants to Foreign Portfolio Investors.
2. Approval for raising funds through Foreign Currency Convertible Bonds (FCCBs) up to USD 465,90,000.
3. Potential conversion of 135,000,000 warrants issued to a Promoter Group entity, subject to regulatory approvals.

Auditor's Review

Ford Rhodes Parks & Co LLP, the company's statutory auditors, have highlighted a material uncertainty related to Zee Media's ability to continue as a going concern. However, they have not modified their conclusion on the financial results, considering the measures being taken by the company.

Zee Media Corporation's management believes that the planned capital infusion, cost rationalization measures, and improved business strategies will enable the company to overcome its current financial challenges and meet its liabilities as they fall due.

As the media landscape continues to evolve, Zee Media's ability to adapt and capitalize on its strategic initiatives will be crucial in determining its future financial health and market position.

Zee Media Corporation , a prominent player in the Indian media landscape, has announced a significant change in its senior management. Rajesh Sareen, who held the position of Chief Revenue Officer (CRO), has tendered his resignation, marking the end of his tenure with the company.

Resignation Details

According to the company's disclosure to the National Stock Exchange of India Limited and BSE Limited, Sareen's resignation will take effect from the close of business hours on November 10, 2025. The announcement, made in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, provides key details about this corporate development.

Reasons and Implications

In his resignation letter, Sareen cited personal reasons for his decision to leave the organization. He expressed gratitude for the support and opportunities provided during his time with Zee Media Corporation, describing his tenure as "truly enriching." The company has not announced any immediate replacement for the CRO position.

Corporate Disclosure

The following table summarizes the key points of the corporate disclosure:

Company's Response

Zee Media Corporation acknowledged Sareen's contribution to the organization. The resignation was formally accepted and communicated to the stock exchanges by Ranjit Srivastava, the Company Secretary & Compliance Officer of Zee Media Corporation Limited.

This change in senior management comes at a time when the media industry is experiencing rapid transformations. The departure of a key executive like the Chief Revenue Officer could potentially impact the company's strategic direction and revenue strategies in the short term.

As Zee Media Corporation navigates this transition, stakeholders will be keenly watching for any announcements regarding a successor and potential shifts in the company's revenue approach in the evolving media landscape.