GECs
ESS in 3-year deal with IHF for international match telecast
MUMBAI: Indian Hockey Federation (IHF) and sports broadcaster ESPN STAR Sports have signed a three year exclusive telecast deal for all international hockey matches, under the aegis of IHF, to be played in India.
Under the contract, ESS will broadcast and market ‘IHF Hockey Package’, including 102 international matches over the next 3 years. Any other hockey tournament, which the IHF launches in this period will also fall under the purview of this contract and will be telecast exclusively by the channel.
IHF has announced the tentative schedule of the teams, which will be visiting India over the year. Teams, which might visit India will include South Korea, Malaysia, Spain, Australia, Pakistan, New Zealand and Germany. ESS will telecast 102 international matches including a 5 test series against arch rival Pakistan over the next three years., an official release said.
ESPN STAR Sports will work on a comprehensive marketing plan to promote ‘IHF Hockey Package’. Leisure Sports Management (LSM), the marketing agency of IHF, has facilitated the deal between the two leading organizations.
“We are looking at growing the game’s popularity in a very systematic manner. Last year we launched PHL. This year we are taking a holistic approach to market the national team and international hockey better. The entire process of scheduling and then showcasing the hockey tournaments is being systematized. Carrying the process further, we will release the names of countries visiting India well in advance, which will help in better marketing and selling of the tournaments,” said IHF president KPS Gill.
ESPN Software India MD R C Venkateish said, “Our role in this deal will be more than mere telecasting. Besides continuing to innovate on our current hockey telecast, we will market the hockey players and the sport better. We will leverage our relationships with IHF and hockey players by integrating the discipline much more into our over all marketing programs and specific initiatives like ESPN Learning Grounds for schools, and so on.”
Tentative IHF schedule for July 2005 – June 2006
| No. | Series |
| 1 | India South Korea/Malaysia Tests |
| 2 | 4 nation double header |
| 3 | India – Spain/Germany Tests |
| 4 | India – Pakistan Tests in India |
| 5 | India – NZ/Australia Series |
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.
