GECs
Star ready to go head-to-head with Sony
MUMBAI: Its official now. Star has declared war on Sony Entertainment Television and the viewers will get ringside seats as the two channels fight it out over who will rule the weekend.
If Sony’s honchos had any doubts about how their gameshow “Jeeto Chappar Phaad Ke” hosted by the irrepressible Govinda was doing Star’s response should put them at ease.
Star, which has enjoyed an amazing run since the launch in July of its hit gameshow “Kaun Banega Crorepati” hosted by Bollywood’s Big B Amitabh Bachchan, seems to be feeling the heat of competition and is going all out to put a spoke in Sony’s wheel.
Riding on the success of last Saturday’s special episode in aid of victims of the Gujarat earthquake where cricketer Sachin Tendulkar and filmstar Madhuri Dixit Nene were invited, Star says it will have more such shows.
Star India CEO Peter Mukherjea, quoted in the Economic Times on Saturday, has said: “Yes, we intend hitting Sony head-on with more special KBC programmes. Sony is strong on weekends and we can’t let them occupy that space.” Mukherjea said Star would not be reworking its normal 9 pm-10pm, Monday-to-Thursday schedule but is in the process of devising a strategy of extending KBC on weekends too with special events and celebrity shows. That is not all though. Star is also in the process of devising a strategy of increasing viewer interest in KBC on normal weekdays, which appears to be flagging.
Lucky draws for viewers and specials where couples will be allowed to participate form part of the strategy to pack them in again, Star’s corporate communications head, Yash Khanna said.
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.
