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Next Mediaworks Ltd

| Quarterly Financial Results Q3 FY 2025-26

BEARISH SENTIMENT

Report Source

⬤23rd Jan 26

Summary : Next Mediaworks Limited faces severe financial distress with eroded net worth, accumulated losses, no operations, and is no longer a going concern.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Employee benefit expenses: INR 8 Lacs (Q3 FY26).
  2. Finance costs: INR 114 Lacs (Q3 FY26).
  3. Other expenses: INR 6 Lacs (Q3 FY26).
  4. Revenue from operations: INR 17 Lacs (Q3 FY26), INR 43 Lacs (Q3 FY25).
  5. Other income: INR 0 Lacs (Q3 FY26), INR 0 Lacs (Q3 FY25).
  6. Paid up equity share capital: INR 6,689 Lacs.
  7. Other equity (excluding Revaluation Reserves) as per last audited balance sheet: INR (9,188) Lacs (as of March 31, 2025).
  8. Net worth is fully eroded as of December 31, 2025.
  9. Inter-corporate borrowing from Next Radio Limited (erstwhile subsidiary company).
  10. Company is not required to prepare consolidated financials; results are standalone.

Corporate Overview

  1. Significant accumulated losses.
  2. Net worth fully eroded.
  3. Finance costs on inter-corporate borrowing.
  4. Uncertainty in settling inter-corporate borrowing due in August 2027.
  5. No business operations, operating cash flows, or definitive business plans.
  6. Management assessed that the going concern assumption is no longer appropriate.
  7. Inter-corporate borrowing from Next Radio Limited (erstwhile subsidiary company).
  8. Formal and factual reporting of financial results and board decisions.
  9. Revenue from operations
  10. Other income

Risk Factors

  1. Significant accumulated losses persist.
  2. Net worth completely eroded.
  3. Uncertainty in settling inter-corporate debt.
  4. Company not a going concern.

Key Drivers

  1. Finalizing future business strategy.
  2. Resolving inter-corporate borrowing issues.
  3. Initiating new profitable business operations.
  4. Improving operating cash flows significantly.

Auditor’s Report

  1. Unmodified review conclusion on unaudited financial results.
  2. Auditors do not express an audit opinion on interim financial information.
  3. Management's assessment that the Company is no longer a going concern, and financial results prepared on this basis.

Board Commentary

  1. Significant accumulated losses and fully eroded net worth.
  2. Uncertainty in settling inter-corporate borrowing.
  3. Company is not a going concern.
  4. Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Governance

  1. Audit Committee reviewed and recommended the financial results.
  2. The company's inability to continue as a going concern is a significant governance concern.

Management Discussion & Analysis

Future Strategy

  1. Management is yet to finalise the future course of action.

Operational Focus Areas

  1. Currently, the company has no business operations or operating cash flows.

Critical Risks

  1. Significant accumulated losses and fully eroded net worth.
  2. Uncertainty in settling inter-corporate borrowing.
  3. Company is not a going concern.