Radaan Mediaworks (I) Ltd (RADAAN)
🎯 Key Takeaways
- Radaan Mediaworks (I) Ltd is in a fragile financial and operational phase, marked by persistent losses, negative cash flow, and governance transitions. Despite a high ROE of 32.
- Revenue declined 9.1% QoQ to ₹2 in Q1FY27.
- ⚠️ Material uncertainty over going concern due to liquidity constraints and unpaid statutory dues of ₹355.81 Lakhs, as disclosed in the auditor's qualifi
📖 The Story
Radaan Mediaworks (I) Ltd is in a fragile financial and operational phase, marked by persistent losses, negative cash flow, and governance transitions. Despite a high ROE of 32.8%, the company is under severe stress due to liquidity constraints, unpaid statutory dues, and a qualified auditor's opinion raising going concern doubts. Management is focused on board reconstitution and governance compliance, but financial recovery remains distant.
📰 What's Happening
In Q1FY27, Radaan Mediaworks closed its trading window ahead of un-audited results, which were later disclosed on 18 June 2026 with a qualified audit opinion due to material uncertainty over going concern, citing liquidity constraints and unpaid statutory dues of ₹355.81 Lakhs. The company approved audited financial results for Q4FY26 and FY26 on 29 May 2026, revealing a subsidiary contributing only ₹7.61 Lakhs in assets and a net loss of ₹3.14 Lakhs. Board changes were announced on 28 August 2026, appointing Rahhul Sarath as Executive Director and Mrs. M. Uma as Independent Director, effective 1 September 2026 pending shareholder approval. Earlier, on 18 August 2026, two directors resigned citing personal commitments. Management has not provided forward-looking operational guidance but emphasized compliance and governance improvements.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 0 | 2 | 2 | 2 | 2 |
| Operating Profit | -1 | -2 | -1 | -0 | -0 |
| OPM % | -324.1% | -113.2% | -42.7% | -26.7% | -2.0% |
| Net Profit | -1 | -2 | -1 | -1 | -0 |
| EPS | ₹-0.28 | ₹-0.28 | ₹-0.18 | ₹-0.14 | ₹-0.08 |
The company has been in a multi-quarter decline, with revenue stuck at ₹2 Crore over the last five quarters, while operating and net losses have widened. Operating margin deteriorated from -324.1% in June 2025 to -2.0% in June 2026, indicating marginal improvement but still far from profitability. Net loss per share improved slightly from ₹-0.28 to ₹-0.08 over the same period, but this reflects minimal scale rather than recovery. The financial trajectory is defined by shrinking operations and persistent losses, despite modest margin stabilization in the most recent quarter.
🔮 Management Outlook & What's Next
Management has not provided explicit forward-looking guidance on revenue growth, cost restructuring, or path to profitability in the latest filings. The focus has been on governance — board reconstitution, director appointments, and resolving SEBI compliance delays — rather than operational revival. The auditor's qualified opinion and unpaid statutory dues of ₹355.81 Lakhs suggest ongoing financial fragility, and no strategic roadmap for recovery was disclosed in the recent board meeting or annual report.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 |
| Reserves | -22 | -22 | -25 | -27 |
| Borrowings | 30 | 29 | 13 | 15 |
| Total Liabilities | 31 | 29 | 8 | 8 |
| Fixed Assets | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 31 | 29 | 8 | 8 |
The balance sheet shows a sharp decline in total assets from ₹29 Crore in March 2025 to ₹8 Crore in March 2026, indicating asset reduction or impairment. Equity remains stable at ₹11 Crore, but reserves have turned negative at ₹-27 Crore, reflecting accumulated losses. Borrowings decreased from ₹29 Crore to ₹15 Crore, suggesting deleveraging, but the company remains asset-light and capital-constrained. There is no evidence of capital expenditure or investment activity; the focus appears to be on survival and compliance rather than growth or restructuring.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +8 |
| Investing | -1 |
| Financing | -7 |
| Net Cash Flow | +1 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 51.4% | 51.4% | 51.4% | 51.4% |
| FII | 0.3% | 0.3% | 0.3% | 0.3% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 40.9% | 40.9% | 40.9% | 41.0% |
| # Shareholders | 25,089 | 25,246 | 25,123 | 24,924 |
Promoter holding remains stable at 51.42% over the last five quarters, indicating no dilution or stake sale. Foreign institutional holding is minimal at 0.28%, with no DII activity reported. The number of public shareholders has slightly declined from 25,246 to 24,924, suggesting marginal retail interest. There are no signs of institutional accumulation or significant retail inflows, and no insider selling or pledging disclosed. Shareholding structure remains stable but passive, with no activist or strategic investor activity visible.
⚖️ Peer Comparison — Entertainment
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| SUNTV | 18,236 | 11.9 | 17.8% | 13.1% | 0.00 |
| PVRINOX | 12,333 | 27.7 | 12.5% | 6.3% | 0.21 |
| SAREGAMA | 9,385 | 42.3 | 19.6% | 14.0% | 0.00 |
| TIPSMUSIC | 8,370 | 169.2 | 3.4% | 1.5% | 0.00 |
| ZEEL | 7,644 | 37.5 | 1.7% | 1.7% | 0.02 |
| WONDERLA | 3,287 | 32.2 | 7.3% | 5.7% | 0.00 |
| IMAGICAA | 3,008 | 212.6 | 3.1% | 1.1% | 0.28 |
| MMWL | 1,485 | 262.2 | 9.9% | 9.2% | 1.57 |
| PANORAMA | 1,307 | 54.5 | 15.3% | 10.2% | 0.41 |
| DEN | 1,268 | 8.5 | 5.3% | 4.0% | 0.00 |
⚠️ Risk Factors
1. Material uncertainty over going concern due to liquidity constraints and unpaid statutory dues of ₹355.81 Lakhs, as disclosed in the auditor's qualified opinion. 2. Persistent operational losses and near-zero revenue base, with margins remaining negative across all quarters. 3. Governance volatility from director resignations and board reconstitution, with new appointments pending shareholder approval. 4. High dependence on a single subsidiary with minimal asset contribution and ongoing losses, offering no strategic upside.
📋 Recent Filings
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🔴 Announcement 7 September 2026Radaan Mediaworks (I) Ltd general filing
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🔴 annual report 5 September 2026Radaan Mediaworks India Limited's 27th Annual General Meeting was held on 29 September 2026 via video conferencing. The company reported a consolidate...
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🟡 Board Meeting 4 September 2026Radaan Mediaworks (I) Ltd announced its 27th Annual General Meeting will be held on September 29, 2026, via video conference, with e-voting open from ...
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🔴 annual report 4 September 2026Radaan Mediaworks announced its 27th Annual General Meeting will be held on September 29, 2026 via video conference, with book closure from September ...
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🔴 annual report 4 September 2026Radaan Mediaworks India Limited filed its 2025-26 Annual Report with BSE on September 4, 2026, announcing the 27th Annual General Meeting (AGM) schedu...
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🟡 Board Meeting 28 August 2026Radaan Mediaworks' board reconstituted its Nomination & Remuneration Committee after Ms. Rayane Radikaa's resignation, appointed Mr. Rahhul Sarath as ...
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🔴 annual report 28 August 2026Radaan Mediaworks announced board changes effective September 1, 2026, including appointing Rahhul Sarath as an executive director and Mrs. M. Uma as ...
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🟡 Board Meeting 18 August 2026Radaan Media Works announced the resignation of two directors effective August 18, 2026, citing personal commitments, with formal disclosures filed as...
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🟡 Board Meeting 18 August 2026No summary available
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🟡 Board Meeting 13 August 2026Radaan Mediaworks India Limited announced the outcome of its board meeting held on 13 August 2026, where it approved unaudited standalone and consolid...
🧠 Analyst's Read
Radaan Mediaworks remains in a precarious position with no clear path to profitability, despite minor improvements in margin and stable promoter holding. Investors should monitor next quarter's results for signs of operational stabilization, auditor's resolution of going concern concerns, and shareholder approval of new board members. The company's future hinges on resolving financial distress and demonstrating sustainable governance, rather than revenue growth.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-17.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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