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Tag: Eros Media

  • Eros finds some relief with Rs 13 lakh profit in rocky first half

    Eros finds some relief with Rs 13 lakh profit in rocky first half

    MUMBAI: Loss to gloss? Eros Media scrapes into the black, thanks to a property sale. From a cinematic cliffhanger to a financial plot twist, Eros International Media has posted a modest standalone profit of Rs 13 lakh for the half year ended 30 September 2024 thanks almost entirely to a Rs 2,303 lakh gain from selling office premises. But behind the positive headline figure lies a tangled script of unpaid dues, regulatory heat, and an eroded net worth.

    As per the company’s unaudited results approved on 31 July 2025, total income stood at Rs 5,390 lakh for the April–September period, of which only Rs 3,079 lakh came from actual operations. The remaining Rs 2,311 lakh largely stemmed from the one-time property deal, bumping up the bottom line just enough to dodge a red mark. For context, Eros had reported a loss of Rs 9,970 lakh in the same period last year and a full-year loss of Rs 47,973 lakh in FY24.

    Despite this slim profit, Eros continues to operate under significant financial strain. Its net worth remains negative at Rs (48,572) lakh, and liabilities exceed assets. The company is staring at long-overdue receivables of Rs 14,893 lakh from Eros Worldwide FZE, its former parent, apart from another Rs 7,303 lakh from Eros UK and Rs 3,183 lakh from Eros USA. A provision of Rs 25,150 lakh has been made towards these in FY24.

    Moreover, the company is entangled in a regulatory saga. The Securities and Exchange Board of India (SEBI) issued an ex-parte order in June 2023 and later a confirmatory order in October 2023, citing irregularities including suspect content advances. These advances Rs 5,253 lakh (net of impairment) out of a whopping Rs 1,07,201 lakh remain under SEBI scrutiny. The watchdog has since issued a show-cause notice, and the next Securities Appellate Tribunal (SAT) hearing is slated for 22 September 2025.

    Adding to the drama, the Enforcement Directorate conducted a search at Eros’ Mumbai office earlier this year under the Foreign Exchange Management Act, with proceedings still pending.

    Eros’ auditors, Haribhakti & Co LLP, have flagged a “material uncertainty” over its ability to continue as a going concern. While the company says it’s pursuing overdue collections, restructuring loans, and exploring long-term monetisation of its film and music library, the road ahead is anything but smooth.

    Despite the small profit reprieve, this may not be the interval, let alone the climax. Eros still needs a major plot twist to turn the tide. For now, it’s banking more on nostalgia and asset sales than a strong box office-style comeback.

  • Eros Media forays into Saudi Arabia’s market; announces partnership with Arabia Pictures Group

    Eros Media forays into Saudi Arabia’s market; announces partnership with Arabia Pictures Group

    Mumbai: Eros Media World has formed a strategic alliance with a Riyadh-based content production company, Arabia Pictures Group, “APG,” which primarily serves the MENA region.

    Through this partnership, Eros and APG will explore strategic and business opportunities in the film production, technology, and web3 space exclusively catering to the Indian entertainment industry.

    Eros Media World group CEO Pradeep Dwivedi said, “Saudi Arabia is a strategic market for global organisations like Eros Media World. We aspire to be a frontrunner in not only getting a foothold in this burgeoning market but also contribute to the economy through our expertise.”

    He further added, “This partnership with Arabia Picture Group is significant as it allows us to understand the market and introduce new concepts and technologies that are crucial to the growth of the sector in the region. Cultural similarities between India and Saudi Arabia will help accelerate this process and create value for stakeholders.”

    They will look into content production investments such as end-to-end production, line production, distribution, and more. They will also look to introduce new technologies that will help the media and entertainment industry grow. They are already testing movie archive digitisation and virtual location scouting technologies in advanced stages.

    Arabia Pictures Group chairman Abdulelah Alahmary said, “The MENA region is keen for creative mediums such as arts and films to play a more prominent role in shaping the economy. This presents a great opportunity for us to use our combined strength and contribute to the sector’s growth. He adds, “We are collaborating in the East with Eros’ expertise in the new age web3 and blockchain space gives us an edge, and I am certain that we will build an ecosystem that will transform the media and entertainment industry in the MENA region and beyond towards the west.”

    With blockchain and related technologies transforming businesses around the world, the joint entity will focus on creating an environment that supports decentralised and autonomous new economic growth, thereby creating a more equitable and empowering ecosystem for the entertainment community to thrive.

    Arabia Pictures Group chief executive officer Roua Almadani, “We have always aspired to partner with India, the top entertainment creators in the world, and now the dream has come true.”

    “This cooperation will create various job opportunities in entertainment production and filmmaking as well as new discoveries of young talents in the film industry in the Kingdom of Saudi Arabia and the Middle East. We will be revealing more details during a press conference and on the joint projects soon,” added Almadani.

    Eros is entering the rapidly expanding Saudi Arabian market in order to capitalise on new opportunities and identify synergies with the various Saudi Arabian government initiatives aimed at fostering growth in the media and entertainment sectors.

    The General Entertainment Authority (GEA), which was established by the Saudi government in 2016 to help drive Vision 2030, a strategic framework to diversify Saudi Arabia’s economy and develop public service sectors such as health, education, infrastructure, recreation, media, and tourism, is one of the driving forces behind the growth initiative.

    As part of its Vision 2030, the Saudi government intends to invest approximately $6.9 billion in the film industry in order to transform it into a major economic contributor.

  • Eros Media to raise fund, board approves issue of 22.5 crore equity shares

    Eros Media to raise fund, board approves issue of 22.5 crore equity shares

    Mumbai: Eros International Media has announced its plans to raise funds, a change directorate and management on Thursday. Kishore Lulla resigned as the executive director of the company.

    The company’s board of directors approved an increase in the authorised share capital of the company from Rs 125 crore divided into 12.5 crore equity shares of Rs 10 each to Rs 350 crore divided into 35 crore equity shares of Rs 10 each by creation of additional 22.5 crore equity shares of face value of Rs 10 each ranking pari passu (same rate) in all respects with the existing equity shares of the company.  

    The board also approved the issue of up to Rs 13.5 crore convertible warrants for Rs 30 per warrant with a right to the warrant holders to apply for and be allotted one equity share of face value Rs 10 each of the company at a premium of Rs 20 per equity share for each warrant within 18 months from the date of allotment of warrants, for an amount up to Rs 405 crore for cash and in such form and manner and under Chapter V of the Securities and Exchange Board of India (SEBI), subject to the approval of members of the company and such regulatory/statutory authorities as may be applicable.

    The board appointed Vijay Jayantilal Thaker as an additional director of the company subject to shareholder approval in the ensuing annual general meeting. Thaker resigned from the role of the chief financial officer of the company.

    The company announced the appointment of Rajesh Chalke as chief financial officer.

    In April, the company had announced several additions to the board including the appointment of Rishika Lulla Singh as executive chairperson, Pradeep Dwivedi as new CEO and Rajesh Chalke as chief financial officer. It also changed the corporate name of the entity listed on New York Stock Exchange from ErosSTX Global to Eros Media World Plc after completing the previously announced sale of STX subsidiary. 

  • ’17-18: Eros Media to produce 50 films in multiple languages

    ’17-18: Eros Media to produce 50 films in multiple languages

    MUMBAI: Eros International Plc, a leading global company in the Indian film entertainment industry, has announced that its majority-owned subsidiary, Eros International Media Limited, released its film production lineup for 2017-18.

    Eros International Media plans to produce over 50 films across multiple languages, making it the largest slate by any Indian studio this year, offering a diversified slate of marquee and content-driven films. In addition to this strong production slate, the Company will also continue to selectively acquire content on an opportunistic basis, according to a Business Wire release in the U.K.

    The company has ramped up its own productions with an exciting lineup under development, encompassing a significant number of releases across budgets, genres and languages through key partnerships. These partnerships include talented producer-director, Aanand L Rai and their joint production entity Colour Yellow Production, NextGen Films and Trinity Pictures, Eros’ in-house franchise label.

    Eros International Media managing director Sunil Lulla said, “We are delighted to collaborate with some of the best creative forces in the business and build a strong portfolio of films. We continue to see great opportunity in nurturing talent, creating IP in-house and remain focused on delivering our promise to provide wholesome entertainment to audiences with the right mix of popular and content driven cinema”.

    Following the critical and commercial successes of Raanjhanaa, Tanu Weds Manu Returns, Nil Battey Sannata and Happy Bhag Jayegi, Eros continues its association with Aanand L Rai and will roll out eight more titles with Colour Yellow which include Rai’s directorial venture starring Shah Rukh Khan, a quirky romantic comedy Shubh Mangal Savdhaan by south director RS Prasanna and two films, Mukkebaz and Manmarziyaan, will be helmed by Anurag Kashyap and Rahul Sankalya’s Nimmo. Following the success of Happy Bhag Jayegi, director Mudassar Aziz will reunite on a film he will direct along with another interesting collaboration with Navdeep Singh (of NH10 and Manorama Six Feet Under fame) for a project that is currently in the scripting stage. Additionally, a Malayalam film Moothon starring Nivin Pauly that Rai will be co-producing with Ajay Rai and Alan McAlex, to be directed by Geetu Mohandas, who’s last film Liar’s Dice was India’s official entry at the 87th Academy Awards is also in the pipeline from the banner.

    Aanand L Rai said, “Eros and Colour Yellow share an amazing synergy which reflects in the kind of films we make together, showcasing Indian ethos that touch hearts. What makes this association special is how, as partners, the teams bond and celebrate each project together.”

    Eros’ new slate also boasts of five films in association with NextGen Films, namely the blockbuster actor-director duo—Tiger Shroff and Sabbir Khan’s action-packed musical Munna Michael, Sushant Singh Rajput’s space odyssey Chandamama Door Ke, directed by Sanjay Puran Singh and directors Rahul Dholakia and Sabbir Khan’s next projects along with another project titled Make in India to be announced soon.

    Director Rahul Dholakia adds, “Eros and NextGen are very established film companies and I am looking forward to partnering with them in my next venture.”

    Trinity Pictures, the company’s visionary venture and in-house franchise label has five franchises across new and diverse genres lined up in the next couple of years— a spy-superhero film, Sniff directed by Amole Gupte, a live action bilingual (Hindi and Tamil) elephant film to be directed by multiple award winning Tamil director, Prabhu Solomon, ace director Krish’s buddy cop film which will be shot in Hindi and Tamil simultaneously, featuring popular lead actors from both South and Bollywood and two Indo-China co-productions, a first for any Indian studio—Kabir Khan’s travel drama and Siddharth Anand’s cross-cultural romantic comedy.

    “It’s exciting to jointly develop the Indo-China project with Eros and I hope we create new milestones together. This project will reach out to a much wider audience, new geographies and territories opening up the fastest growing film market of the world, China”, added director Kabir Khan.

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  • ’17-18: Eros Media to produce 50 films in multiple languages

    ’17-18: Eros Media to produce 50 films in multiple languages

    MUMBAI: Eros International Plc, a leading global company in the Indian film entertainment industry, has announced that its majority-owned subsidiary, Eros International Media Limited, released its film production lineup for 2017-18.

    Eros International Media plans to produce over 50 films across multiple languages, making it the largest slate by any Indian studio this year, offering a diversified slate of marquee and content-driven films. In addition to this strong production slate, the Company will also continue to selectively acquire content on an opportunistic basis, according to a Business Wire release in the U.K.

    The company has ramped up its own productions with an exciting lineup under development, encompassing a significant number of releases across budgets, genres and languages through key partnerships. These partnerships include talented producer-director, Aanand L Rai and their joint production entity Colour Yellow Production, NextGen Films and Trinity Pictures, Eros’ in-house franchise label.

    Eros International Media managing director Sunil Lulla said, “We are delighted to collaborate with some of the best creative forces in the business and build a strong portfolio of films. We continue to see great opportunity in nurturing talent, creating IP in-house and remain focused on delivering our promise to provide wholesome entertainment to audiences with the right mix of popular and content driven cinema”.

    Following the critical and commercial successes of Raanjhanaa, Tanu Weds Manu Returns, Nil Battey Sannata and Happy Bhag Jayegi, Eros continues its association with Aanand L Rai and will roll out eight more titles with Colour Yellow which include Rai’s directorial venture starring Shah Rukh Khan, a quirky romantic comedy Shubh Mangal Savdhaan by south director RS Prasanna and two films, Mukkebaz and Manmarziyaan, will be helmed by Anurag Kashyap and Rahul Sankalya’s Nimmo. Following the success of Happy Bhag Jayegi, director Mudassar Aziz will reunite on a film he will direct along with another interesting collaboration with Navdeep Singh (of NH10 and Manorama Six Feet Under fame) for a project that is currently in the scripting stage. Additionally, a Malayalam film Moothon starring Nivin Pauly that Rai will be co-producing with Ajay Rai and Alan McAlex, to be directed by Geetu Mohandas, who’s last film Liar’s Dice was India’s official entry at the 87th Academy Awards is also in the pipeline from the banner.

    Aanand L Rai said, “Eros and Colour Yellow share an amazing synergy which reflects in the kind of films we make together, showcasing Indian ethos that touch hearts. What makes this association special is how, as partners, the teams bond and celebrate each project together.”

    Eros’ new slate also boasts of five films in association with NextGen Films, namely the blockbuster actor-director duo—Tiger Shroff and Sabbir Khan’s action-packed musical Munna Michael, Sushant Singh Rajput’s space odyssey Chandamama Door Ke, directed by Sanjay Puran Singh and directors Rahul Dholakia and Sabbir Khan’s next projects along with another project titled Make in India to be announced soon.

    Director Rahul Dholakia adds, “Eros and NextGen are very established film companies and I am looking forward to partnering with them in my next venture.”

    Trinity Pictures, the company’s visionary venture and in-house franchise label has five franchises across new and diverse genres lined up in the next couple of years— a spy-superhero film, Sniff directed by Amole Gupte, a live action bilingual (Hindi and Tamil) elephant film to be directed by multiple award winning Tamil director, Prabhu Solomon, ace director Krish’s buddy cop film which will be shot in Hindi and Tamil simultaneously, featuring popular lead actors from both South and Bollywood and two Indo-China co-productions, a first for any Indian studio—Kabir Khan’s travel drama and Siddharth Anand’s cross-cultural romantic comedy.

    “It’s exciting to jointly develop the Indo-China project with Eros and I hope we create new milestones together. This project will reach out to a much wider audience, new geographies and territories opening up the fastest growing film market of the world, China”, added director Kabir Khan.

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