TV Vision Ltd (TVVISION)
🎯 Key Takeaways
- TV Vision Ltd is currently in severe financial distress following the initiation of Corporate Insolvency Resolution Process (CIRP) under the IBC, triggered by a default on a Rs 294.65 crore debt owed to Punjab National Bank.
- Revenue grew 60% QoQ to ₹0 in Q1FY27.
- ⚠️ Ongoing CIRP under IBC with unresolved creditor claims poses existential threat to shareholder value.
📖 The Story
TV Vision Ltd is currently in severe financial distress following the initiation of Corporate Insolvency Resolution Process (CIRP) under the IBC, triggered by a default on a Rs 294.65 crore debt owed to Punjab National Bank. The company's operations have effectively collapsed, with zero revenue reported in the latest quarter and mounting losses, while its board has been stripped of control and placed under an interim resolution professional. The company is no longer functioning as a going concern, with auditors highlighting critical disclosure failures and material understatements in its financials.
📰 What's Happening
The company has entered a critical phase of insolvency proceedings, with the first Committee of Creditors meeting scheduled for August 31, 2026, following NCLT admission of the petition on July 31, 2026. Management has been sidelined as the interim resolution professional assumes control, and the board's powers remain suspended. The company failed to file its Q1 FY26 financial results by the SEBI-mandated deadline due to the CIRP-induced governance disruption, and trading restrictions are now in place until 48 hours after results are eventually disclosed. These filings confirm a formal restructuring process is underway with no operational or financial recovery in sight.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 8 | 6 | 0 | 0 | 0 |
| Operating Profit | -5 | -10 | -6 | -13 | -4 |
| OPM % | -66.4% | -168.0% | -1250.0% | -8820.0% | -1516.7% |
| Net Profit | -5 | -10 | -6 | -13 | -4 |
| EPS | ₹-1.34 | ₹-2.58 | ₹-1.55 | ₹-3.43 | ₹-0.94 |
TV Vision's financial trajectory has deteriorated sharply, transitioning from minimal revenue and persistent losses in prior quarters to complete operational collapse, with June 2026 showing zero revenue and an operating profit margin of -1516.7%. The company has reported four consecutive quarters of negative net profit, with losses widening due to material understatement of finance costs by Rs 195.50 crores and impairment of business rights. The absence of revenue and escalating losses reflect not just sectoral challenges but fundamental operational breakdown, exacerbated by insolvency proceedings that have frozen governance and delayed financial reporting.
🔮 Management Outlook & What's Next
Management has not provided forward-looking guidance, as the company operates under insolvency administration with no capacity for strategic planning. The board's role has been suspended, and all disclosures are now driven by regulatory requirements of the CIRP process rather than voluntary business updates. There is no public roadmap for recovery, and management commentary is limited to procedural updates on creditor claims and filing delays, indicating a complete shift from operational leadership to legal compliance mode.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 |
| Reserves | -168 | -183 | -198 | -217 |
| Borrowings | 3 | 7 | 6 | 3 |
| Total Liabilities | 71 | 56 | 37 | 18 |
| Fixed Assets | 0 | 27 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 71 | 56 | 37 | 18 |
The balance sheet reveals a severely weakened financial position, with equity remaining flat at ₹39 crore while reserves have turned deeply negative (₹-217 crore), signaling cumulative losses eroding capital. Borrowings remain minimal (₹3-6 crore), but this reflects the insignificance of the company's asset base rather than prudent leverage. Total assets have declined from ₹56 crore to ₹18 crore over the past year, underscoring asset erosion. The company is not investing in growth or deleveraging — it is effectively frozen, with capital allocation dictated by insolvency proceedings rather than strategic choice.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -0 |
| Investing | -0 |
| Financing | +1 |
| Net Cash Flow | +0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 32.2% | 32.2% | 32.2% | 32.2% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 6.0% | 6.0% | 6.0% | 6.0% |
| Public | 42.7% | 42.8% | 42.8% | 42.8% |
| # Shareholders | 15,197 | 15,663 | 15,426 | 15,426 |
Shareholding patterns show no movement among promoters or institutional investors, with promoter stake locked at 32.2% and FII holdings consistently at 0% over the past year. DII holdings remain minimal at 5.95%, and the slight increase in public shareholding from 42.66% to 42.81% reflects retail accumulation amid declining institutional confidence. With 15,426 shareholders, the stock is highly fragmented, but the absence of FII activity and lack of new institutional interest signal deteriorating sentiment. No insider buying or stake increases are observed, and the company remains at risk of delisting if financial disclosures remain inadequate.
⚖️ 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. Ongoing CIRP under IBC with unresolved creditor claims poses existential threat to shareholder value. 2. Material understatement of finance costs and auditor-reported disclosure gaps indicate potential misrepresentation and lack of financial transparency. 3. Zero revenue and negative operating margins suggest the business model is no longer viable without restructuring. 4. Governance collapse due to board suspension and management transition under insolvency severely limits execution capability and increases regulatory and legal exposure.
📋 Recent Filings
-
🟡 Board Meeting 7 September 2026TV Vision Limited announced its 19th Annual General Meeting scheduled for Tuesday, September 29, 2026, at 12:00 p.m. IST via video conferencing, with ...
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🟡 Board Meeting 7 September 2026TV Vision Limited (TVVISION) will hold its 19th Annual General Meeting on September 29, 2026 at 12:00 PM IST via Video Conferencing, as permitted unde...
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🔴 annual report 7 September 2026TV Vision Ltd (BSE: TVVISION) filed its FY2025-26 annual report under SEBI Regulation 34(1) while under Corporate Insolvency Resolution Process since ...
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🔴 Announcement 29 August 2026TV Vision Limited has announced the first meeting of its Committee of Creditors under the Corporate Insolvency Resolution Process, scheduled for Augus...
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🟡 Board Meeting 18 August 2026TV Vision Limited reported unaudited consolidated results for Q1 FY2026 showing a net loss of ₹364.13 lakhs, driven by material understatement of fina...
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🔴 Financial Results 17 August 2026TV Vision Limited announced a delay in submitting its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026 due ...
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Announcement 7 August 2026TV Vision Limited announced that the National Company Law Tribunal dismissed a petition filed by Swami Films Entertainment Private Limited, an operati...
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Announcement 5 August 2026TV Vision Limited disclosed a GST department notice regarding alleged excess input tax credit for FY2022-23, demanding ₹38,386,964 plus ₹15,541,988 in...
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🔴 Announcement 2 August 2026TV Vision Limited announced that its insolvency resolution professional issued a public announcement initiating the Corporate Insolvency Resolution Pr...
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🔴 Announcement 31 July 2026TV Vision Limited faces insolvency proceedings after Punjab National Bank filed a Section 7 petition for a Rs 294.65 crore debt, with the NCLT admitti...
🧠 Analyst's Read
TV Vision Ltd is in a state of operational and financial collapse with no visible path to recovery, making it a high-risk situation for investors. The priority now is monitoring developments in the CIRP process, particularly creditor decisions and any potential resolution plan. Key near-term triggers include the August 31 Committee of Creditors meeting and the eventual filing of long-delayed financial results, which will likely determine the next phase of restructuring. Investors should watch for signs of asset sales, debt restructuring terms, or delisting proceedings as the primary near-term catalysts.
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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