GECs
Banijay Group buys out Endemol Shine India
Mumbai: Global media and entertainment powerhouse, Banijay, has announced the successful completion of its buy-out of Endemol Shine India, thus paving way for a reorganisation of Banijay in the region, to create a content powerhouse in India, as well as Asia. Both Banijay Asia, and Endemol Shine India will now work under the leadership of Deepak Dhar, who’s been appointed as the founder & group CEO.
Talking on the developments, Dhar commented, “The reorganisation of Banijay in Asia is our biggest and boldest move yet and aligns with our ambition to drive further growth in India and Asia at-large. Leveraging the creative potential and possibilities of both brands, we will now strategically pursue complimentary yet independent creative portfolios to offer the most diverse, and compelling cross-genre content from across the globe, to our Indian and Asian platforms and screens.”
Commenting on the restructuring, Banijay CEO Marco Bassetti said, “Deepak is a leading creative and entrepreneurial force in Asia, and in our partnership thus far, he has successfully created an impressive slate, and a host of fruitful partnerships with major buyers and partners worldwide. In this new phase for the business, he will now focus on unlocking and aligning other strategic growth avenues to put Banijay in a dominating position, both in India, as well as Asia.”
Having led Endemol’s India operations between 2005 and 2018, before launching Banijay Asia and overseeing its strategic growth, Dhar will now continue his focus on leading the wider group’s content strategies, partnerships, new business, and alliances, in addition to building both companies’ reputations in generating new IP, which can travel the world.
In line with the changes, and with the aim of unlocking greater synergies, Dhar will now finesse the structure of Banijay in the region, setting group-wide roles, as well as dedicated creative positions within the respective production entities. Key personnel-related news is expected to be shared in the coming few weeks.
Dhar further added, “I’ve been fortunate to have been involved in the growth of both the businesses since their inception in India. Now, managing both to drive growth across the region, is a bit of a surreal feeling. I look forward to working closely with my colleagues at Endemol Shine India and Banijay Asia to continue to create path-breaking content and having fun along the way.”
Now, some of the biggest global, and original Indian IP would now be available and produced between the two entities, under the leadership of Dhar.
Over the last few years, Banijay Asia has delivered mega-hit scripted adaptations like The Night Manager, Call My Agent Bollywood, Hostages, and Fall, and successful Originals like Dahan, Matsya Kaand, Undekhi, Tribhanga amongst many others. The content studio’s upcoming shows include Indian adaptations of The Good Wife, Monk, House and Suits. On the non-scripted front, Banijay is leading the genre with blockbuster titles like The Kapil Sharma Show, MTV Roadies, The Voice, The Big Picture, Into The Wild with Bear Grylls, Case Toh Banta Hai and more. The content studio’s upcoming shows include Survivor and Temptation Island.
Meanwhile, since 2005, Endemol Shine India has established a strong reputation as the leading producer of Bigg Boss across 9 regions, as well as the Indian adaptations of Fear Factor, MasterChef and Deal or No Deal. On the Scripted front, apart from Bombay Begums, Trial By Fire and Tooth Pari, of late, the label has announced a third season of International Emmy-nominated Aarya, and a Hindi adaptation of The Bridge (Bron/Broen).
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
