GECs
Media distribution infra needs to change: Star India CEO Uday Shankar
NEW DELHI: Lack of infrastructure is impacting the media and entertainment industry and improving its current state could fuel growth in the sector, top media executives have said.
Star India CEO Uday Shankar said, “The distribution infrastructure of the industry has to change. There needs to be fundamental transformation in terms of screens for films, cable networks for television and digital infrastructure advertising.”
Shankar was addressing the session on ‘How a flourishing M&E industry can deliver on India’s dream of Growth, Equity and Jobs’ during a two-day meet to mark the 89th Annual General Meeting of the Federation of Indian Chamber of Commerce and Industry. Shankar is also the chairman of FICCI Media and Entertainment Committee.
In his closing remarks, Shankar said that lack of infrastructure, which was crucial for the industry was the major obstacle for growth, and improving the existing scenario by fixing few issues could fuel growth. “This is because it has the ability to employ and integrate people at the margins of the society,” he added.
The Indian Media and Entertainment industry is estimated to be worth around $18 billion, and employs about six million people.
However, he said the industry is unrecognized in terms of economic value and contribution to the country’s GDP, and represents only 0.9%. The lower contribution to the economy of the country is because the industry is stuck in a plethora of regulations including pricing of content, and lack of adequate infrastructure to monetise their content.
India Today Group chairman Aroon Purie, speaking on how the Media and Entertainment industry could deliver on India’s dream said that the television industry was impacted because of the regulations surrounding pricing of content and the disintegrated cable networks in the country. “Of the Rs 14,000 crore collected by the cable companies, only Rs 4,000 crore reaches the broadcaster,” Purie said.
Voicing similar concern on behalf of the film industry, FICCI Film Forum chairman Rakeysh Omprakash Mehra said that, though India produced around 1200 movies a year – the highest in the world – it could not monetise because of lack of theatres. “We want to have people’s theatres where the middle class family can go and watch movies at affordable prices,” Mehra said, adding that the higher number of screens directly translates into increase in revenue for film producers.
GroupM South Asia CEO C V L Srinivas said, with consumers increasingly moving to digital and social media, the government should look at integrating all its efforts in building digital infrastructure. “One-point agenda is: improving the digital infrastructure,” he added.
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.
