Eros International Media Limited has officially filed regulatory intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, announcing comprehensive board restructuring effective December 12, 2025. The changes involve two new director appointments and one resignation, approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee.

New Director Appointments

The company has appointed two experienced professionals from within the EROS Group ecosystem to strengthen its board composition:

Mr. Anand Shankar Kamtam brings over 20 years of experience in Accounts Finance and Media Film Industry. The commerce graduate from Mumbai University and Inter C.A. has been associated with the EROS Group since May 2002. During his tenure as Group Financial Controller (India), he made significant contributions to the company's Accounts and Finance functions, playing a key role in strengthening operations and contributing effectively to overall financial management.

Mr. Vijay Gulab Chand holds a postgraduate degree in commerce and currently serves as Director of Eros Worldwide FZE since February 2018. With 31 years of total experience, including over 13 years in India working with various companies in corporate financial services, import and export, he joined the EROS group in Dubai in 2007. His responsibilities include overseeing day-to-day operations, administrative tasks, coordination with overseas group companies, documentation, regulatory compliance, and general administration.

Board Departure and Resignation Details

The company accepted the resignation of Mr. Sagar S. Sadhwani (DIN: 03559502) from his position as Non-executive Non-Independent Director. In his resignation letter dated December 12, 2025, Mr. Sadhwani cited personal reasons and other commitments as the basis for his decision.

Regulatory Compliance and Stock Exchange Filing

The company has completed all necessary regulatory filings with both stock exchanges where its shares are listed:

Both new appointees have confirmed they are not debarred from holding office as Directors by virtue of any SEBI Order or other regulatory authority. The appointments reflect the company's strategy of leveraging internal expertise from its group ecosystem while maintaining strong governance standards. All changes are subject to shareholder approval at the company's ensuing Annual General Meeting.

Eros International Media Limited concluded its board meeting on December 12, 2025, announcing Q2 FY26 financial results alongside significant board restructuring. The media and entertainment company reported continued financial challenges while implementing strategic leadership changes.

Financial Performance Overview

The company's financial performance for the quarter and half year ended September 30, 2025, reflects ongoing operational difficulties. Key financial metrics demonstrate the challenging business environment:

The company's earnings per share stood at ₹(3.75) for the half year ended September 30, 2025, compared to ₹(1.22) in the corresponding period of the previous year.

Balance Sheet Position

As of September 30, 2025, the company's financial position shows significant stress indicators:

The company's net worth has been fully eroded, with current liabilities significantly exceeding current assets, indicating severe liquidity constraints.

Board Restructuring

The board meeting resulted in substantial leadership changes, with two new appointments and one resignation:

New Appointments

Anand Shankar Kamtam was appointed as Additional Director effective December 12, 2025. The 57-year-old commerce graduate from Mumbai University brings over 20 years of experience in accounts, finance, and the media industry. He has been associated with the Eros Group since May 2002, serving as Group Financial Controller (India).

Vijay Gulab Chand joined as Additional Non-Executive Non-Independent Director, also effective December 12, 2025. The 58-year-old postgraduate in commerce currently serves as Director of Eros Worldwide FZE since February 2018, bringing 31 years of total experience including 13 years in India across corporate financial services and import-export operations.

Director Resignation

Sagar Sadhwani resigned from his position as Non-Executive Non-Independent Director effective December 12, 2025, citing personal reasons and other commitments. His resignation letter confirmed no material reasons beyond those stated.

Regulatory and Operational Challenges

The company continues to navigate significant regulatory scrutiny. SEBI investigations remain ongoing following the Interim Ex-Parte Order dated June 22, 2023, and subsequent Confirmatory Order dated October 13, 2023. The company has filed appeals and is responding to show cause notices while maintaining compliance with SEBI directions.

Additionally, the Enforcement Directorate conducted search operations under the Foreign Exchange Management Act, 1999, at the company's registered office, concluding on February 06, 2025.

Going Concern Considerations

Despite material uncertainties affecting the company's ability to continue as a going concern, management has prepared financial statements on this basis. The company has implemented various measures to enhance liquidity, including cost-saving initiatives, monetization of film and music library rights, and efforts to recover overdue trade receivables from group entities totaling ₹26,928 lakhs (net of provisions).

The auditors have issued a qualified opinion highlighting these material uncertainties while noting that the financial statements have been prepared assuming continued operations. Both appointments are subject to shareholder approval at the upcoming Annual General Meeting.