GECs
Fame is dead, long live Inox
MUMBAI: In 2011, Inox’s takeover of Fame India made for headlines, while giving a fillip to the Anil Ambani-owned Reliance Capital Partners and becoming the country’s biggest multiplex chain in the bargain.
Two years later, change is finally happening. On Monday, 17 September the Fame website www.famecinemas.com ceased to exist, and is in the process of moving into the Inox website.
All Fame properties will henceforth be called Inox. Also, a marketing campaign comprising print, outdoor and radio and spanning over two months has been kicked off to communicate the new name to people. As part of the campaign, there will be advertisements and inserts in a range of newspapers across cities that house Fame multiplexes. The value of marketing across 24 cities is pegged at approximately Rs 15-20 crore by industry sources. Similarly, Fame will undergo physical changes where the new logo of Inox will make its presence felt on tickets, popcorn cups and uniforms worn by the staff.
About the acquisition, Inox Leisure CEO Alok Tandon said: “The good points of Fame and Inox have been put together. The first phase will see Mumbai experiencing the change this week, after which, Kolkata and Bengaluru are next with cities such as Pune, Panchkula and Dhanbad following suit.”
Asked why it took two years for the renaming, Tandon said: “The acquisition got finalised only this year in May since we had to visit two courts (Baroda and Mumbai) in two states- . Only after that could we start our renaming process.”
With 73 multiplexes and 284 screens across 40 cities; of which 25 multiplexes with 94 screens belong to Fame India, Inox is in a happy space. Maharashtra boasts the highest number of Inox multiplexes – 19 with 76 screens, followed by West Bengal with 13 multiplexes and 49 screens. Indeed, the last of Inox’s 73 multiplexes was added only yesterday, in Haryana, with nearly Rs 7-10 crore having gone into the setup. As things stand, Inox claims to attract over four crore movie goers annually.
What’s more, plans are afoot to expand into cities like Greater Noida, Gurgaon, Jalgaon, Madurai, Jamnagar and Manipal as also increase the existing number of multiplexes in places like Lucknow, Raipur and Surat.
To mark the change from Fame to Inox, a new ‘Feature Presentation Dater’ has been created, with sound designing by Oscar Award winning Resul Pookutty. “Our aim is to make the audience experience high fidelity,” says Pookutty, adding that an atmos version of the same is on the anvil.
The question now remains whether Inox will continue to retain its Fame?
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.
