GECs
Sony YAY! adds Naruto to its licensing & merchandising portfolio in India
Mumbai: Sony YAY!, India’s kid’s entertainment brand, has established a licensing and merchandising portfolio, in the last six years. With a toonverse of over 120 characters, the brand offers its partners value-based additions that help brands resonate with the spirit of this generation.
The channel’s dynamic toonverse comprises of an eclectic mix of homegrown and acquired toons, such as cat duo Honey Bunny, Oggy, from Oggy and the cockroaches, the super boy Kicko with his super car from Kicko Superspeedo and many more. 2022 also saw Sony YAY! introduce Naruto, for the first time ever on television. Adding another feather to its cap, the channel has now also bagged the title of being the first master licensee for the anime in India. In its first Direct-To-Etailor partnership with The Souled Store, the Naruto product line has already broken records with the biggest first day sale. As a part of this partnership, The Souled Store already offers a wide range of categories of official Naruto merchandise, spanning across apparels, accessories, footwear, and personal care. Not just this, very soon the fans of Naruto will also be able to avail the merchandise across many more categories which include – home furnishings, consumer electronics, toys, crockery and much more.
With brand partnerships like these, Sony YAY! endeavours to use its expertise of understanding audiences and equity of its characters to consistently bridge the gap between brands and their target group. By lending its characters and expertise in communication, Sony YAY! always works towards partnerships that echo the spirit of the new generation, with each association bringing a unique value addition. These partnerships range from promotional licensing with Honey and Bunny on Dabur milkshake and frappe packs, to experiential mobile games with Zapak and App On, customised apparels with Best Seller, or even funky home furnishings with comfy bean bags.
Sony YAY! business head Leena Lele Dutta said, “At Sony YAY!, we believe in creating an ecosystem of characters that will lend themselves to not just engaging with kids, but also help in expanding the width of the business. While we already have the licensing rights for our homegrown IP’s, we have also obtained the licensing rights for our acquired content which will help us to stay committed to our promise of always bringing fans closer to the characters that they love.”
The Souled Store co-founder & director Harsh La said, “This was an opportunity we simply couldn’t miss and we jumped at the chance to partner with Sony YAY!, the leading kids’ entertainment brand. We were thrilled to offer anime enthusiasts the official Naruto merchandise that they had been yearning for. Our collaboration has proved to be a resounding success, with sales skyrocketing from day one. We look forward to uncovering many more opportunities for collaboration with Sony YAY! in the future.”
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.
