Eros Media Board Approves FY26 Results with Qualified Audit Opinion
Eros International Media Limited's board approved FY26 results showing a loss before tax of ₹10,035 lakhs. The audit report carries a modified opinion due to significant overdue receivables and ongoing SEBI investigations. The company's going concern status faces material uncertainty.
The qualified audit opinion, material uncertainty regarding going concern, significant overdue receivables, and ongoing regulatory investigations have a high impact on the company's financial health and investor confidence.
The company reported a significant loss, fully eroded net worth, and received a qualified audit opinion due to overdue receivables and ongoing regulatory investigations, indicating a negative financial and operational outlook.
Eros International Media Limited announced the outcome of its Board Meeting held on May 29, 2026. The board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company also received the Audit Report from Haribhakti & Co. LLP, statutory auditors, which included a modified opinion. A statement on the impact of the audit qualification on the financial results for the year ended March 31, 2026, was also presented.
Additionally, the board approved the appointment of Patni Mandhana & Associates as Internal Auditors and C. R. Bhagwat, Practicing Company Secretary, as Secretarial Auditor for the financial year 2026-27. Walker Chandiok & Co. LLP was appointed as the auditor for Transfer Pricing services for the financial year 2025-26.
The financial results for the year ended March 31, 2026, indicate a loss before tax of ₹10,035 lakhs and a fully eroded net worth. The auditors' report highlighted significant overdue trade receivables from group entities amounting to ₹16,688 lakhs from Eros Worldwide FZE, among others, for which a provision of ₹28,438 lakhs has been made. The company is awaiting RBI approval for net remittance from EWW. The auditors also noted ongoing SEBI investigations concerning content advances aggregating to ₹1,01,601 lakhs, the impact of which remains unascertainable pending the completion of proceedings.
The company's ability to continue as a going concern is subject to material uncertainty, dependent on raising funds through asset monetization and recovery of dues. The financial statements have been prepared on a going concern basis, considering management's strategic initiatives.
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