GECs
Zee accelerates growth plan for Africa, partners TNTSAT
MUMBAI: Aiming to further strengthen its presence in Africa, leading Indian content company, Zee Entertainment Enterprises Limited (ZEEL) today announced its entry into the French-speaking country of Mali with the launch of its leading channels, Zee Magic and Zee Cinema on DTT network – TNTSAT Africa in Mali. Additionally, from today, ZEE Africa is partnering with the continent’s largest DTH platform, DStv for the launch of Zee Bollymovies (channel 114), a specially customized, English-dubbed, Bollywood movie channel for the African market.
ZEEL CEO – international broadcast business Amit Goenka said: “ZEE will be making further inroads into the vast continent of Africa with our entry into the French-speaking country of Mali. Sharing our existing channels – Zee Magic and Zee Cinema with new audiences is a huge achievement for us and we thank TNTSAT for allowing us to bring the best of Bollywood to all their viewers in Mali.”
Zee TV Africa CEO Harish Goyal stated: “In another major deal, within just four weeks of its launch, our 24-hour dedicated English-dubbed Bollywood movie channel, Zee Bollymovies will now be available on DStv, the largest DTH platform in Sub-Saharan Africa. ZEE has already witnessed tremendous success over the past two years on DStv with Zee World, its English-dubbed General Entertainment channel and with the addition of Zee Bollymovies on this platform, we hope to further raise the level of entertainment for our dedicated viewers.”
Zee Magic, launched in October 2015, is a General Entertainment channel dubbed in French which brings the best of Bollywood series and food shows to Francophone Africa, while Zee Cinema is a 24-hour Hindi Bollywood Movie channel catering to South Asians on the continent. In Mali, Zee Magic and Zee Cinema will be available on TNTSAT Africa in the ‘Divas offer’, a high standard package that is tailor-made for viewers.
Zee Bollymovies, a 24-hour specially customized movie channel dubbed in English, launched in January 2017 in Africa. DStv will first premiere Zee Bollymovies in South Africa and then take it to the rest of the continent to market Bollywood entertainment to Africa. With these exciting new additions from ZEE, Africa now has a first-row seat to watch the best of content – Bollywood movies, television series and food shows – that India has to offer!
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.
