GV Films Ltd

AGM extension

• To seek ROC approval to hold AGM for year ended 31 March 2026 beyond 30 Sept 2026.

Director appointment

• Appoints Rashmi Chatwani as Additional Director (Non-Executive) with immediate effect; ratifies earlier 30 Apr 2026 appointment.

Meeting Details

• Date, time, and location of the board meeting not disclosed in filing chunk.

Financial results approved

• Standalone unaudited quarterly results for quarter ended 30 June 2026 and Apr-Jun 2026 approved.
• Consolidated unaudited results approved; GV Studio City Limited included and not fully reviewed.

Auditor remarks and emphasis

• Basis for qualified conclusion: gratuity liability not recognised under IND AS 19.
• Balance confirmations pending; inoperative bank accounts; FCCB documents not furnished.
• Consolidated results include GV Studio City Limited; subsidiary unreviewed in the quarter.

Regulatory and governance actions

• BSE trading suspension due to non-compliance noted; suspension subsequently revoked.
• Board approved governance rectifications and board reconstitution.
• Show-cause notice from FEMA; appellate proceedings ongoing; outcome not quantifiable.
• AY 2016-17 tax demand and GST ITC issues; appeals filed; no provision recorded.

Context

• Issuer GV Films Ltd is the board meeting filer.

Dematerialisation and listing status

• Securities received from depository participants for dematerialisation were confirmed to depositories.
• Dematerialised securities listed on the stock exchanges where earlier issued securities are listed.
• Dematerialisation certificates mutilated and cancelled after verification; depository's name substituted as registered owner within time.

Financial highlights

• Standalone revenue from operations for year ended 31 Mar 2026: 223.25 lakh.
• Standalone total income: 521.07 lakh.
• Standalone profit after tax: 21.72 lakh.
• Standalone earnings per share (basic/diluted): 0.0012.
• Consolidated revenue from operations: 226.25 lakh.
• Consolidated total income: 524.07 lakh.
• Consolidated profit after tax: -32.35 lakh.
• Consolidated earnings per share (basic/diluted): -0.0017.

Auditor opinions & notes

• Auditors issued a qualified opinion on standalone and consolidated results.
• Emphasis of matter on governance issues, including BSE trading suspension and FEMA/customs matters.

Governance actions

• Board reconstituted March–April 2026; multiple resignations; new independent directors appointed; CCO/Company Secretary appointed.

Capital & financing

• Board approved secured financing up to Rs 95 crore from Sanctum Trading Corporation Pvt Ltd.
• Board considered issuing Redeemable Preference Shares up to Rs 50 crore.

Cash flow

• Standalone cash flow from operations: net outflow Rs 135.51 lakh.
• Standalone investing cash flow: net inflow Rs 297.32 lakh.
• Standalone financing cash flow: net outflow Rs 187.46 lakh.
• Consolidated cash flow from operations: net outflow Rs 129.46 lakh.
• Consolidated investing cash flow: net inflow Rs 297.82 lakh.
• Consolidated financing cash flow: net outflow Rs 143.34 lakh.
• Net increase in cash: standalone Rs 24.55 lakh; consolidated Rs 25.01 lakh.

Business model & segment

• Company operates a single reportable segment: Film production and distribution.

Risks

• Ongoing SEBI investigations; FEMA-related proceedings; tax demands and ITC challenges.

""