PNC Reports Q3 FY26 Results: Significant Content Write-down of ₹17.56 Crore
Pritish Nandy Communications Ltd reported its Q3 FY26 results, disclosing a significant write-down of ₹17.56 crore in content inventory value. This exceptional item impacted the profit before and after tax. The company also noted ongoing legal proceedings and arbitration awards, which management considers fully recoverable. The results were reviewed by auditors with an unmodified opinion.
The write-down is substantial and affects reported profits, but the company states it does not impact cash flows or future operations, limiting the long-term impact.
The significant write-down of content inventory, classified as an exceptional item, negatively impacts the company's reported profitability for the quarter.
Pritish Nandy Communications Limited (PNC) announced the outcome of its Board Meeting held on February 12, 2026. The Board approved the unaudited financial results for the quarter and nine months ended December 31, 2025, both on a standalone and consolidated basis.
A material exceptional item was disclosed, relating to a write-down in the value of content inventory. This write-down amounted to ₹1,756.09 lakh on a standalone basis and ₹1,750.86 lakh on a consolidated basis. This adjustment was made in accordance with Ind AS 2 — Inventories, following a comprehensive re-assessment of the carrying value of the company's content library, considering current licensing agreements, revised future revenue estimates, and an external independent valuation report. The write-down was necessitated by a shift in content consumption patterns, reduced demand for older film libraries, and revised content acquisition strategies by digital platforms and broadcasters.
The company also recognized a corresponding reversal of deferred tax liability amounting to ₹442.01 lakh (standalone) and ₹440.69 lakh (consolidated). The exceptional item's impact is limited to the profit before and after tax for the quarter and does not affect the company's cash flows or ongoing regular operations.
The financial results also included details on arbitration awards and legal proceedings, including an award of ₹3.52 crore plus interest against White Feather Films, and proceedings for the recovery of ₹1.5 crore. The company has filed an appeal against an order related to the latter. Management considers these amounts fully recoverable, and no provisions have been made against them.
The financial statements were prepared in accordance with Indian Accounting Standard 34 “Interim Financial Reporting” and were reviewed by the statutory auditors, B.D. Jokhakar & Co., who issued an unmodified opinion.
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