Cinevista

Cinevista's board approved the write-off of outstanding loans and advances totalling Rs 2.39 crore to Chimera Entertainment Private Limited and Heritage Productions Private Limited on 22 September 2026, on the recommendation of its audit committee on 17 September. The balances comprised Rs 1.65 crore to Chimera, a 99.88% subsidiary, and Rs 73.74 lakh to Heritage, a 49.9% associate, both of which had no business for a decade and fully eroded net worth, and the charge was taken in standalone accounts with no impact on consolidated accounts on elimination of inter-company balances. The company reported standalone revenue of Rs 23.97 crore in FY26, with about Rs 23.91 crore from the Kanjurmarg Antares joint development with K Raheja Corp, alongside a net profit of Rs 6.10 crore. Its FY26 standalone and consolidated accounts were modified by the auditor over Rs 21.89 crore of intangibles and exposures to subsidiaries. Cash stood at Rs 29 lakh against non-current borrowings of Rs 15.25 crore and inventory of Rs 99.46 crore tied to the development project. Its Cinevista Classics YouTube channel had about 6.1 lakh subscribers and generated only a few lakh rupees of revenue.

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Cinevista scheduled a board meeting for 22 September 2026 to consider a 100% provision for expected credit losses on loans and advances and a 100% impairment allowance on long-term equity investments in Chimera Entertainment, Heritage Productions and Cinevista Eagle Plus Media. The agenda included write-off of the exposures and voluntary strike-off of two of the inactive companies, described as non-operational for ten years with eroded net worth and nil realisable assets. Standalone revenue was ₹2,397.29 lakhs in FY26, with ₹2,390.59 lakhs from the K Raheja joint-development project Antares at Kanjurmarg under percentage-of-completion accounting and ₹6.7 lakhs from legacy media and digital operations. The FY26 standalone accounts reported pre-tax profit of ₹784.36 lakhs and net profit of ₹610.18 lakhs alongside a modified audit opinion on non-impairment of ₹2,188.74 lakhs of intangibles and on investments and advances to subsidiaries. Cash and equivalents stood at ₹29 lakhs against inventory of ₹9,946 lakhs tied to the joint-development project.

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