Picturehouse Media Limited has announced the resignation of Mr. Gautam Shahi from his position as Independent Director, effective from the close of business hours on February 28, 2026. The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Gautam Shahi, holding Director Identification Number (DIN) 10236790, submitted his resignation through an email dated February 26, 2026. In his resignation communication, he cited a significant increase in professional commitments in his legal practice as the primary reason for stepping down from the board position.

Impact on Board Committees

Following his resignation, Mr. Shahi will cease to be a member of all Board committees where he currently serves. The company has indicated that his departure will affect his participation in various committee roles across the organization, wherever applicable, from the effective date of resignation.

Regulatory Compliance

Picturehouse Media Limited has fulfilled its disclosure obligations under SEBI regulations by providing comprehensive details of the resignation. The company has confirmed that Mr. Shahi stated there are no material reasons for his resignation other than those mentioned in his resignation letter. No additional claims or disputes have been indicated in connection with his departure.

Company Statement

In his resignation email, Mr. Shahi expressed appreciation for the trust, collaboration, and support extended to him during his tenure. He acknowledged that stepping down was in the best interest of the company and its governance standards, given his inability to devote adequate time and attention to his directorial duties due to his expanding legal practice commitments.

Picturehouse Media Limited has reported a significant turnaround in its Q3 FY26 financial performance, posting a net profit of Rs 35.71 lakhs compared to a loss of Rs 28.94 lakhs in the corresponding quarter of the previous year. The results for the quarter ended December 31, 2025, were approved by the Board of Directors on February 12, 2026.

Financial Performance Overview

The company's standalone financial results demonstrate a marked improvement in profitability despite operational challenges. Total income for Q3 FY26 reached Rs 158.78 lakhs, entirely comprising other income, as revenue from operations remained nil during the quarter.

Nine-Month Performance

For the nine months ended December 31, 2025, the company reported net profit of Rs 32.96 lakhs against a loss of Rs 137.86 lakhs in the corresponding period of the previous year. Total income for the nine-month period stood at Rs 429.06 lakhs compared to Rs 6.83 lakhs in the previous year.

Consolidated Results

The consolidated financial results showed even stronger performance, with net profit of Rs 41.70 lakhs in Q3 FY26 compared to Rs 1.68 lakhs in Q3 FY25. Consolidated total income reached Rs 514.89 lakhs, driven primarily by other income of Rs 514.89 lakhs.

Operational Challenges and Auditor Concerns

Despite the improved financial performance, the company faces significant operational challenges. The auditors have raised qualified concerns regarding inventory valuation of Rs 3,012.31 lakhs, which mainly comprises payments to artistes and co-producers. The auditors question the realizability of Rs 2,879.84 lakhs of this inventory.

The company maintains a negative net worth of Rs 4,040.79 lakhs as of December 31, 2025, raising going concern issues. However, management remains confident about future revenue generation through movie production projects and strategic initiatives.

Film Production Activities

During the quarter, the company engaged in production of three films, with costs included in inventory as film production-in-progress. The company has advance payments to artistes and technicians for future movie productions, reflecting its continued focus on content creation despite financial constraints.

Subsidiary Performance

PVP Capital Limited, the wholly owned subsidiary, continues to face challenges with negative net worth of Rs 613.47 lakhs and has surrendered its NBFC registration. The auditors have expressed concerns about the carrying value of the Rs 2,521.74 lakhs investment in this subsidiary.