Cineline India Limited , a prominent player in the entertainment and real estate sectors, has announced significant leadership changes and received shareholder approval for several key resolutions at its 23rd Annual General Meeting (AGM) held on September 26, 2025.

Leadership Continuity

The company's shareholders have approved the reappointment of Mr. Rasesh Kanakia as Executive Chairman and Mr. Himanshu Kanakia as Managing Director for another five-year term, effective from May 1, 2026, to April 30, 2031. This decision ensures continuity in the company's top leadership.

Mr. Rasesh Kanakia, with 41 years of experience, has been instrumental in Cineline's growth since its inception. He began his career as a real estate consultant in 1984 before venturing into real estate development in 1986. As the company's Chairman, he oversees critical functions including finance, strategic management, and public relations.

Mr. Himanshu Kanakia, boasting 39 years of industry experience, has been integral to Cineline's day-to-day operations. Under his guidance, the Kanakia Group has successfully developed and delivered 14 million sq. ft. of commercial, residential, entertainment, education, and industrial spaces.

Key Resolutions Passed

The AGM saw the approval of several important resolutions:

1. Adoption of the audited financial statements for the fiscal year ended March 31, 2025.
2. Reappointment of Mr. Rasesh Kanakia as a director liable to retire by rotation.
3. Extension of the tenure of a loan given to a related party under Section 185 of the Companies Act, 2013.
4. Approval of material related party transactions.
5. Approval for Mr. Ashish Rasesh Kanakia to hold an office of profit in the company.
6. Appointment of M/s. D. M. Zaveri & Co. as the Secretarial Auditors of the company.

Shareholder Participation and Voting

The AGM, conducted through video conferencing, saw active participation from shareholders. The e-voting results revealed overwhelming support for all resolutions, with each receiving over 99% votes in favor.

Corporate Governance

It's worth noting that both Mr. Rasesh Kanakia and Mr. Himanshu Kanakia have been confirmed as not being debarred from holding director positions by any regulatory authority, underlining the company's commitment to strong corporate governance practices.

Cineline India Limited, with its diverse portfolio spanning real estate and entertainment, continues to strengthen its leadership team and corporate structure, positioning itself for future growth and expansion in its core business areas.

Cineline India Limited , a prominent player in the Indian film exhibition industry, has announced significant leadership changes and reported robust financial results for the first quarter of fiscal year 2026.

Leadership Reappointments

The Board of Directors of Cineline India has approved the re-appointment of Mr. Rasesh Kanakia as Executive Chairman and Mr. Himanshu Kanakia as Managing Director for five-year terms, effective from May 1, 2026, to April 30, 2031. Both appointments are subject to shareholder approval at the upcoming Annual General Meeting.

Mr. Rasesh Kanakia, who has been serving as Chairman since the company's incorporation, brings 40 years of career experience to his role. Mr. Himanshu Kanakia, with 37 years of experience, has been the Managing Director since the company's inception.

Remuneration Revision

The Board has also approved a revision in remuneration for Mr. Ashish Rasesh Kanakia, who holds a senior management position. This change is pending shareholder approval at the forthcoming Annual General Meeting.

Q1 FY26 Financial Highlights

Cineline India has reported impressive financial results for Q1 FY26:

The company's total revenue increased by 27% year-over-year, while EBITDA more than doubled, showcasing significant improvement in operational efficiency.

Operational Performance

Cineline India's operational metrics also showed positive trends:

The company witnessed growth across all key operational parameters, with notable increases in Average Ticket Price (ATP) and Spend Per Head (SPH).

Strategic Developments

Cineline India has successfully monetized its hotel asset, Hyatt Centric Goa, for an enterprise value of INR 270 crores. This move has facilitated a total debt reduction of INR 228 crores, leading to a debt-free status for the company. The surplus funds are being deployed towards expanding the core film exhibition business.

Expansion Plans

The company has outlined plans to open 9 new screens by December 2025, including 3 in Bareilly, 2 in Chennai, and 4 in Belgaum. This expansion aligns with Cineline India's strategy to strengthen its presence in the film exhibition market.

As of June 30, 2025, Cineline India operates 19 cinemas with 77 screens across 13 cities, offering over 19,000 seats to moviegoers.

With these strategic moves and strong financial performance, Cineline India appears well-positioned for continued growth in the competitive film exhibition industry.