Cable TV
Mukta Arts invests Rs 500 mn in Whistling Woods; courses start in July
MUMBAI: Subhash Ghai-promoted Mukta Arts Ltd has invested Rs 500 million to set up Asia’s biggest film, television, animation and media arts institute in Mumbai.
Whistling Woods International Ltd (WWIL), which is offering two-year courses, has tied up with technology majors including nVidia, Apple, Sony, AMD, Belden, Nortel, Seneca, DigiDesign, Recreate Solutions, ToonBoom and Sennheiser.
“At Whistling Woods, we are looking forward to arming the students with in-depth technology information, operating techniques and technical aptitude to enter the global entertainment industry,” states Ghai.
The aim is to create a talent pool for the rapidly-growing Indian film and animation industry. “We hope the creation of new talent will even help our company ramp up movie production. We have invested Rs 500 million in the project,” says Mukta Arts CEO Ravi Gupta who is also the executive director of WWIL.
WWIL provides specialisations in Direction, Screenwriting, Editing, Acting, Business of film and television, Cinematography, Art and techniques of animation and sound recording and design. The course fees range from Rs 7,00,000 to Rs 1 million. WWIL’s first batch will hit the classrooms in July 2006.
“Through our well-respected faculty of working professionals from the industry, who will be educating the students on an international level, we believe that our Indian students can learn the art of story telling and the optimum use of technology for the same. With a good balance between creativity and technology, producing the best work, India will emerge as a major player in the international film, television, animation and media arts industry,” adds Ghai.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
