Tips Films has successfully completed its board restructuring process with shareholders overwhelmingly approving the appointment of Rahul B. Mehta as Independent Director through a postal ballot. The company announced the voting results on December 29, 2025, confirming unanimous shareholder support for the board changes initiated in October.

Postal Ballot Results and Shareholder Approval

The postal ballot process, conducted through remote e-voting, demonstrated strong shareholder confidence in the board appointment. The voting results were decisive:

The remote e-voting period commenced on November 29, 2025, at 9:00 a.m. and concluded on December 28, 2025, at 5:00 p.m. CS Shirish Shetye of SAV & Associates LLP served as the scrutinizer for the postal ballot process, ensuring compliance with regulatory requirements.

Board Appointment and Restructuring

The appointment of Rahul B. Mehta, initially approved by the Board of Directors during a meeting on October 03, 2025, has now received the requisite shareholder approval. Mehta, aged 47, brings valuable expertise spanning investment management, corporate advisory, and business operations to Tips Films for a five-year term as Non-Executive Independent Director.

Following this appointment, Tips Films restructured its key committees:

Rahul B. Mehta's Professional Background

Mehta's appointment brings extensive experience to Tips Films:

• Most recently served as Chief Business Officer at Powerbank (Shuchi Anant Virya Pvt. Ltd.), a leading EV charging infrastructure company
• Previously worked as an Investment Professional with IL&FS Investment Managers Limited, managing funds worth over US$1.40 billion, including IIRF Realty Fund (US$525.00 million) and IIRF Realty Fund II (US$895.00 million)
• Ran his own advisory practice, specializing in fund recovery through arbitration/litigation for various FDI investors
• Began his career with GE Capital (Genpact) as a Six Sigma consultant, working with major corporations such as Reliance Industries, ICICI Bank, Hindalco, and Hinduja Hospital

Regulatory Compliance and Corporate Governance

Tips Films has confirmed that Mehta is not debarred from holding the office of Director by any order from the Securities and Exchange Board of India or any other authority. The company has also stated that Mehta is not related to any existing directors of Tips Films.

The postal ballot was conducted in compliance with Section 108 and Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resolution was deemed passed on December 28, 2025, being the last date specified for the remote e-voting process.

This strategic appointment and successful shareholder approval demonstrate Tips Films' commitment to strengthening its corporate governance framework and bringing diverse expertise to its leadership team in the entertainment sector.

Tips Films Limited, a prominent player in the Indian film production and distribution industry, has reported a significant turnaround in its financial performance for the quarter ended June 30, 2025. The company has also announced changes in its internal audit team.

Financial Performance

Tips Films posted a net profit of Rs. 474.41 crore for the quarter, marking a substantial improvement from the loss of Rs. 3,270.92 crore reported in the previous quarter. This turnaround in profitability comes despite a decrease in total income from operations, which stood at Rs. 1,269.20 crore compared to Rs. 7,557.32 crore in the prior quarter.

The company's financial highlights for the quarter include:

The earnings per share (EPS) for the quarter stood at Rs. 10.97, compared to a loss per share of Rs. 75.67 in the previous quarter.

Change in Internal Auditor

In a significant development, Tips Films announced changes to its internal audit team. SPML & Associates, who were serving as the company's internal auditors for revenue audits, have resigned effective August 14, 2025. The firm cited preoccupation with other assignments as the reason for their departure.

Following this resignation, the Board of Directors, based on recommendations from the Audit Committee, has appointed Mathur & Co. as the new internal auditor. Mathur & Co. will be responsible for conducting revenue audits for the company starting from the second quarter of FY 2025-2026.

About Mathur & Co.

Mathur & Co., the newly appointed internal auditor, is a well-established chartered accountancy firm with a rich history dating back to 1983. With 42 years of experience, the firm has built a strong reputation in audit, assurance, taxation, advisory, and regulatory services. Their client portfolio includes public sector undertakings, government bodies, banking institutions, and private corporations.

Management Commentary

Kumar S Taurani, Chairman & Executive Director of Tips Films Limited, stated in the company's filing, "The results for the quarter ended June 30, 2025, demonstrate a significant improvement in our financial performance. While our total income has decreased compared to the previous quarter, we have successfully turned our bottom line from a loss to a profit. This reflects our team's hard work and the effectiveness of our strategic initiatives."

Taurani added, "We are also pleased to welcome Mathur & Co. as our new internal auditors. Their extensive experience and client-first approach align well with our commitment to maintaining the highest standards of financial integrity and transparency."

The company's board meeting to approve these results and changes commenced at 03:10 p.m. and concluded at 03:40 p.m. on August 14, 2025.

Tips Films Limited continues to operate in a single reportable business segment of Films Production and Distribution Products, as per Indian Accounting Standard 108 "Operating Segment".

Investors and stakeholders should note that due to the nature of the film industry, quarterly results may not be representative of the full year's performance, as revenues do not necessarily accrue evenly throughout the year.