Esha Media Research Limited has announced the scheduling of its board meeting to review quarterly financial performance for the third quarter of fiscal year 2026. The company has formally notified BSE Limited about this important corporate governance milestone in compliance with regulatory requirements.

Board Meeting Details

The company has provided comprehensive details about the upcoming board meeting through its official communication to the stock exchange.

Meeting Agenda and Purpose

The board meeting has been convened with specific objectives related to the company's quarterly financial disclosure obligations. The primary agenda items include consideration, approval, and recording of the unaudited financial results for the quarter ended December 31, 2025. Additionally, the board will review the Limited Review Report accompanying these financial results.

Regulatory Compliance Framework

This announcement demonstrates Esha Media Research Limited's adherence to corporate governance standards and regulatory compliance requirements. The notification was made pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates prior intimation of board meetings to stock exchanges.

Corporate Information

The communication was signed by Shilpa Vinod Pawar, Whole-time Director of Esha Media Research Limited, with DIN 01196385. The company, incorporated with CIN L72400MH1984PLC322857, maintains its corporate communication through established channels and continues to fulfill its disclosure obligations to stakeholders and regulatory authorities.

Esha Media Research Limited , a media monitoring company, has reported a significant increase in net loss for the quarter ended September 30, 2025, according to its latest financial results. The company's financial position continues to face challenges, with auditors expressing concerns about its ability to continue as a going concern.

Financial Performance

The company's financial results for the quarter and half-year ended September 30, 2025, reveal:

All figures in crore rupees

The net loss for Q2 FY2026 more than doubled compared to the previous quarter, indicating a deteriorating financial situation. The half-yearly loss has also increased substantially year-over-year.

Auditor's Observations

The company's auditors, N. A. Shah Associates LLP, have highlighted several concerns in their limited review report:

1. Qualified Conclusion: The auditors noted an outstanding interest-free unsecured loan liability of ₹769.68 crore as of September 30, 2025. The company is in discussions with ex-directors and members for a potential waiver of this loan.

2. Going Concern Uncertainty: The auditors emphasized that the company's net worth is fully eroded, and its current liabilities exceed current assets, raising significant doubt about its ability to continue as a going concern.

3. Non-Compliances: The company is in the process of regularizing non-compliances mentioned in the Secretarial audit report for the financial year 2024-25.

Management Response

Despite these challenges, the company's management has taken some steps to address the situation:

1. The company has received commitments from promoters and management for fund infusion as required for working capital or other shortfalls.

2. Shareholders approved a proposal to increase the authorized share capital from ₹1,300 crore to ₹3,500 crore to facilitate a preferential issue of equity shares and convertible warrants.

3. The company is seeking a waiver for a ₹57.56 crore penalty imposed by the Bombay Stock Exchange for past non-compliance regarding the non-submission of an annual report.

Outlook

While Esha Media Research is taking steps to address its financial challenges, the company's ability to turn around its performance remains uncertain. The significant increase in losses and the auditor's concerns about the company's going concern status highlight the need for substantial improvements in the company's operations and financial management.

Investors and stakeholders will likely be watching closely to see if the planned fund infusion and capital raising efforts will be sufficient to stabilize the company's financial position and support its future operations.