GECs
Pyramid Saimira, Moser Baer in deal for home video market
MUMBAI: Cinema chain operator Pyramid Saimira Theatre has entered into a strategic alliance with Moser Baer India for exploiting revenues from the home video market.
Under the arrangement, Moser Baer’s range of home video titles will be available at all the theatres owned or managed by Pyramid Saimira. “The space cost will be taken care by us while Moser Baer will spend on furnishing the shops where the home video products will be sold. They will be able to reach out to more consumers through this retail chain,” says Pyramid Saimira Theatre managing director PS Saminathan.
Pyramid Saimira will also allow its new films for Moser Baer to release in the home video format after a short window period. The plan is to release 100 films in South India across the country. Moser Baer will kick off by releasing Pyramid’s new Tamil film Mozhi (released on 23 February). “The window period will be drastically reduced and our films can be available on Moser Baer’s home video after one month of theatrical release. We believe we can get huge volumes as the DVDs are to be priced at Rs 34,” says Saminathan.
Adds Moser Baer CEO, entertainment business, Harish Dayani, “This strategic tie up offers an excellent opportunity to increase our retail presence and availability. We are delighted that Pyramid Saimira Theatre is going to offer their new Tamil film content in home video format for the first time within a short period of releasing the film in the theatre.”
The profit will be split equally between the two companies. This will include revenue generated from advertisement in VCDs and DVDs. The availability of DVDs at such low prices is aimed at killing the piracy market while also expanding the home video segment.
Pyramid Saimira has also agreed to release films produced or distributed by Moser Baer in its theatres. Currently Pyramid has 255 screens in 225 locations.
“Under the strategic alliance if we manage to generate volumes in the home video segment, we hope to add Rs 500 million to our bottomline every year without any increase in costs. While we take the content risk, they run the expenses for production of DVDs,” says Saminathan.
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.
