GECs
Sahara looks to expand viewer base with new shows
MUMBAI: Sahara seems to be finally getting its prime time programming line up in shape. Apart from the star studded Karishma – The Miracle of Destiny and Humaari Bahu Malini Iyer, two new serials are ready for launch in the next two weeks.
Producer actor Sachin Pilgaonkar makes his debut on Sahara with a children’s programme Gilli Danda, beginning 1 May. Yesteryear’s film star Saira Banu also premieres her debut production Kisse Apna Kahein on 18 May on the channel.
Both shows are placed strategically, one a little before the Karishma show, and the other immediately after, presumably to keep the viewer engaged and hooked for more. Kisse Apna Kahein replaces the year old family saga Virasat, while Gilli Danda replaces the Ruby Bhatia anchored Hello.
Sahara TV programming head V Basav Raj says: “Just like its namesake local Indian game ‘gilli-danda’, the kids programme scheduled to air on Thursdays at 7 pm is a good old fashion entertainment for kids.”
The storyline sounds suspiciously similar to famous cartoon strip Dennis the menace and explores the relationship between Gulshan aka ‘Gilli’ and the next-door retired neighbour Mr. Dhandha, ‘Danda uncle’. Produced under the Sushriya Arts banner, by the Tu Tu Main Main director and Chalti ka naam antakshari anchor, the show, claims an official release, is fictional story minus any special effects.
Kisse apna kahein, meanwhile, is a daily that has been in the pipeline for some time now. Starting on 18 May, the programme is a prime time daily soap tentatively scheduled to air at 9:30 pm, just after the big ticket Karisma Kapoor show. Based on the trial and tribulations of a Muslim family, the show promises to offer something different than the previous ones based on Muslim families.
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.
