Hindi

Reliance MediaWorks net worth fully erodes

Published

14 years ago

August 13, 2012

Mumbai: The net worth of Reliance MediaWorks Ltd, Reliance ADAG‘s film and entertainment services company, has completely eroded as the company struggles to cope up with indebtedness and with losses over consecutive quarters.

“Considering the continuing substantial losses incurred by the company, its net worth has eroded,” the company said in notes to the accounts while releasing the financial results for the quarter ended June 30, 2012.

Reliance MediaWorks‘ net worth had eroded to Rs 378.11 million as on March 31, 2012 from Rs 6.66 billion as on March 31, 2008. The company‘s net worth further eroded as it reported a loss of Rs 910.08 million in the quarter ended June 30, 2012.

The company had on May 15, 2012 extended its financial ended March 31, 2012 by six months up to September 30, 2012.

For the fifteen months ended June 30, 2012, the company‘s loss amounted to Rs 5.25 billion. The company also suffered a loss of Rs 243.52 million on cancellation of a derivatives contract pertaining to interest rate swaps, due to adverse foreign exchange fluctuations and interest rates. The loss was accounted for in the quarter ended June 30, 2012.

In the quarter ended June 30, 2012, the interest cost for the company on a consolidated basis was Rs 768.32 million and on a standalone basis Rs 757.43 million. The company has nearly Rs 12 billion of long-term and short-term loans.

Reliance MediaWorks said it has reported the results as a going concern, despite erosion of its net worth, based on the improved operational performance on account of stabilization of new businesses in films and media services and financial support from its promoters.

The company has filed with the Securities and Exchange Board of India (SEBI) for a rights issue to raise Rs 6 billion.

It has also signed an indicative non-binding term sheet with a private equity fund to acquire a substantial minority stake in Reliance MediaWorks‘ film and media services division for an investment of Rs 6.05 crore. The proposed investment is subject to completion of customary detailed due-diligence, definitive documentation and forming a separate subsidiary for the film and media services business.

The company‘s total income from operations and net loss in the quarter ended June 30, 2012 is at the same levels as that of a year earlier. However, its total income from operations at Rs 1.22 billion in the quarter ended June 30, 2012 was 27 per cent higher compared to the previous quarter ended March 31, 2012.

Similarly, its revenues from exhibition business at Rs 987.66 million were up 38 per cent compared to the previous quarter.

According to the draft prospectus filed by the Reliance Mediaworks, the company‘s auditors have qualified their audit report in respect of our standalone and consolidated financial statements for the 12 months ended March 31, 2012.

In the audit report on standalone financial results for the 12 months ended March 31, 2012, the auditors have noted that the company has not accounted for loss on cancellation of the derivative contract, post period end, aggregating Rs 243.52 million. The auditors noted that the company did not account for this loss as required by the principles of prudence as enunciated in accounting standard-1 (AS-1).

Further, the auditors have drawn attention to the recognition of deferred revenue expenditure aggregating Rs 138.72 million pertaining to start up and stabilisation costs of the business of Reliance MediaWorks Entertainment Services Limited, one of our subsidiaries.

If the company had recognised these losses in the 12 months ended March 31, 2012, the loss for the period would have been higher by Rs 382.24 million.

The auditors have, in their report on restated standalone financial information, have drawn attention to the fact that the net worth of our Company has eroded on account of loss of Rs 4.58 billion (as restated) for the 12 months ended March 31, 2012. In addition, the auditors have in the report on restated consolidated financial information drawn attention to the fact that the net worth of the company has fully eroded on account of loss of Rs 5.72 billion (as restated) for the 12 months ended March 31, 2012.

Reliance MediaWorks, in the draft prospectus, has stated that it cannot assure investors that the company‘s net worth will not decrease further. The auditors have warned that the erosion of net worth indicates an uncertainty that may cast a doubt about the company‘s ability to continue as a going concern.

Related Topics:indebtedness previous quarter Reliance MediaWorks

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Boney Kapoor acquires remake rights of Tamil political satire Thalaivar Thambi Thalaimaiyil

Strong word-of-mouth turns Pongal satire into remake pick

Published

5 days ago

February 9, 2026

indiantelevision.com Team

MUMBAI: A Pongal release, a village satire and a theatre visit in Coimbatore have turned into Boney Kapoor’s latest acquisition. The producer has secured the remake rights to the Tamil political satire Thalaivar Thambi Thalaimaiyil (TTT), a film that has been enjoying a strong theatrical run powered by word-of-mouth and praise for its sharp, rooted writing.

Set in a rural milieu, the story follows a panchayat leader thrown into disarray when a wedding and a funeral land on the same day. What unfolds is a swirl of satire and humour that skewers local politics, power games, bruised egos and family tensions, all anchored in the textures of everyday village life.

Kapoor first encountered the film earlier this year while in Coimbatore for the Celebrity Cricket League. With time to spare, he caught a screening at a local theatre. That viewing proved decisive. According to sources, the narrative style, performances and the film’s balance of political commentary and comedy caught his attention.

Interest quickly turned into intent. Kapoor reached out to the producers soon after to explore a remake. Talks gathered pace over the following weeks and came to a head last Friday at the film’s success party in Chennai, where Kapoor joined the celebrations and continued negotiations with the makers.

By the end of the evening, the deal was sealed, with Kapoor formally acquiring the remake rights.

For an industry constantly mining regional cinema for the next crossover story, the move is telling. A small-town satire with local flavour has found a national backer. And if Kapoor’s instincts hold, a tale born in one village may soon echo far beyond it.

Hindi

Fans take centre stage as Zee Cine awards turns the spotlight around

Published

7 days ago

February 7, 2026

indiantelevision.com Team

MUMBAI: When the applause gets louder than the dialogue, you know the fans have taken over. That was the unmistakable mood as Zee formally announced the Zee Cine Awards 2026, flipping the script to celebrate not just cinema’s stars, but the people who cheer them on the loudest.

The 24th edition of the awards marks a fresh chapter in Zee’s long-standing relationship with Hindi cinema, anchored in its fan-first philosophy, Fantertainment. This year’s theme, ‘Yeh Pal Hai Fans Ka’, reinforces a simple idea: cinema’s most powerful moments are shaped as much by audiences as by actors on screen. Presented by Maruti Suzuki, the awards aim to turn fandom into the main event.

The announcement, held in Mumbai, was anything but a routine press conference. Bollywood stars Akshay Kumar, Tamannaah Bhatia, Jacqueline Fernandez, Sonam Bajwa, Aparshakti Khurana, composer Mithoon and singer Palak Muchhal joined fans to kick off the celebrations, turning the launch into a high-voltage, participative spectacle.

Staying true to the theme, fans didn’t just watch the announcement, they drove it. Akshay Kumar took the lead, pulling fellow stars on stage and energising the room, before the unveiling of a live LED Fan Meter. Powered purely by audience cheers, the rising meter culminated in the reveal of the Zee Cine Awards 2026 ground event date, announced in unison with fans, blurring the line between performer and spectator.

The momentum continued as Tamannaah Bhatia, Jacqueline Fernandez, Sonam Bajwa and Aparshakti Khurana recreated iconic hook steps, joined by Mithoon and Palak Muchhal for music-led interactions. Games, spontaneous performances and playful banter kept the focus firmly on shared moments, underscoring the evolving bond between cinema and its audience.

Beyond the launch, the awards will roll out as a multi-platform journey across television, digital, print and fan-led experiences. The aim is sustained engagement from the first announcement to awards night cementing fandom as a cultural force rather than a footnote.

Commenting on the milestone edition Zee head of advertisement revenue, broadcast & digital Laxmi Shetty said the 24th Zee Cine Awards continue to draw strength from the network’s omni-channel ecosystem, reflecting how audiences consume content today across TV, digital and social platforms. She noted that long-standing brand associations, including Maruti Suzuki’s three-year partnership and support from brands such as Hell Energy, underline the platform’s scale, trust and cultural relevance.

As Zee Cine Awards 2026 gathers pace, one thing is clear: this year, the loudest cheers won’t just echo in the auditorium, they’ll shape the show itself.

Hindi

Prime Video to stream Don’t Be Shy, produced by Alia Bhatt

Published

2 weeks ago

January 30, 2026

indiantelevision.com Team

MUMBAI: Prime Video has found its next feel-good original, and it comes with a healthy dose of heart, humour and youthful chaos. The streaming platform has announced Don’t Be Shy, a coming-of-age romantic comedy produced by Alia Bhatt and Shaheen Bhatt under their banner, Eternal Sunshine Productions.

Written and directed by Sreeti Mukerji, the film follows Shyamili ‘Shy’ Das, a 20-year-old who believes her life is neatly mapped out until it suddenly is not. What follows is a relatable tumble through friendship, love and the awkward art of growing up, when plans unravel and certainty gives way to self-discovery.

The project is co-produced by Grishma Shah and Vikesh Bhutani, with music composed by Ram Sampath, adding to the film’s promise of warmth and energy. Prime Video describes the story as light-hearted yet emotionally grounded, with a strong female-led narrative at its core.

Prime Video India director and head of originals Nikhil Madhok, said the platform was delighted to collaborate with Eternal Sunshine on a story that blends sincerity with humour. He noted that the film’s fresh writing, earnest characters and infectious music make it an easy, engaging watch for audiences well beyond its young adult setting.

For Alia Bhatt, Don’t Be Shy reflects the kind of storytelling Eternal Sunshine set out to champion. She said the film stood out for its honesty, its coming-of-age perspective and Mukerji’s passion, which she felt was deeply woven into the narrative. Bhatt also praised Prime Video for supporting distinctive voices and bold creative choices.

With its breezy tone and familiar emotional beats, Don’t Be Shy aims to charm viewers whether they are rom-com regulars or simply in the mood for a warm, unpretentious story about life refusing to stick to the plan.