BSECompany Update2d ago · 22 Sept 2026, 07:53 pm
Enclosing herewith presentation made before the members at the 44th Annual General Meeting of the Company held on 22nd September, 2026.
Mukta Arts Ltd · 532357
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Mukta Arts Ltd has announced its 44th Annual General Meeting presentation, highlighting its FY 2025-26 results and FY 2026-27 business outlook. The company reported a 52% increase in revenue from operations, with consolidated EBITDA rising to ₹2,644 Lacs from ₹1,742 Lacs, and consolidated net loss narrowing to ₹1,180 Lacs. The company is diversifying into animation and streaming, with a partnership with Green Gold Animation and a strategy to use its own IP as a backbone for original series content.
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Earnings Impact8/10
Growth Catalyst6/10
Governance Concern2/10
Regulatory Risk1/10
Balance Sheet Risk3/10
Liquidity Impact8/10
Market Sentiment6/10
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Mukta Arts Ltd - 532357 - Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
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22nd September, 2026
To, To,
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex,
Dalal Street, Mumbai – 400001 Bandra (East), Mumbai – 400051
Scrip Code: 532357 - EQ Symbol: MUKTAARTS – EQ
Kind Attn: Corporate Relations Department
Dear Sir/Madam,
SUB: INTIMATION UNDER REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND
DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, enclosing herewith presentation made before the Members at the 44th
Annual General Meeting of the Company held on Tuesday, 22nd September, 2026
commenced at 4:00 p.m. (IST) through Video Conferencing / Other Audio-Visual Means.
Kindly take the above information on your records.
Yours faithfully,
For Mukta Arts Limited
Pratiksha Panchal
Company Secretary and Compliance Officer
MUKTA ARTS LIMITED
Annual General Meeting
FY 2025–26: Year in Review| FY 2026–27 Business Outlook
Rahul Puri –Managing Director
Mukta Arts Ltd · Whistling Woods International · Mukta A2 Cinemas
Agenda
Industry Context
The global and Indian M&E landscape in 2025-26
Consolidated Financials
Group performance: revenue, EBITDA and margin
A broader,
Mukta Arts Production more resilient
Standalone financials, return to production, new verticals business —
built on a
Whistling Woods International
stronger base.
Growth, margins and the land matter
Mukta A2 Cinemas
Turnaround metrics and the One Cinemas partnership
Bahrain & Outlook
The Bahrain turnaround and FY 2026-27 priorities
Mukta Arts Limited —Annual General Meeting 2
INDUSTRY CONTEXT
A Sector on the Rise
The backdrop against which the Group delivered its FY 2025-26 results
$3.5T +9% ₹13,395 cr +44%
GLOBAL M&E INDUSTRY INDIA M&E GROWTH (2025) RECORD BOX OFFICE LIVE EVENTS SURGE
An all-time high for Indian Live and in-person experiences
Global entertainment & media The Indian M&E sector outpaced
domestic box office, with Hindi were one of the fastest-growing
revenues, on track to surpass $4.2 nominal GDP growth; digital media
cinema's best-ever year and 37 segments —a tailwind for the
trillion by the turn of the decade crossed ₹1 trillion for the first time
films crossing ₹100 crore, up from Group's own live entertainment
(PwC Outlook). (FICCI-EY).
22. push.
Industry Context 3
GROUP PERFORMANCE
FY 2025-26: Consolidated Financial Highlights
A clear, broad-based operating improvement across the Group
₹17,391L +52% -32%
REVENUE FROM OPERATIONS CONSOLIDATED EBITDA NET LOSS NARROWED
Up from ₹16,672 Lacs, with growth spread EBITDA rose to ₹2,644 Lacs from ₹1,742 Lacs, Consolidated net loss narrowed to ₹1,180 Lacs
across each of the Group's key operating with margin expanding from 10% to 15% — from ₹1,732 Lacs —a decisive step towards
entities. genuine operating leverage, not a one-off gain. sustained profitability.
Figures in ₹ Lacs unless stated (1 Lac = ₹100,000). Source: MD&A and Chairman's Statement, FY 2025-26.
Consolidated Financial Highlights 4
Three Segments, One Growth Agenda
Each business unit strengthened its EBITDA performance in FY 2025-26
P W A2
Whistling Woods
Mukta Arts Production Mukta A2 Cinemas
International
A standout performer: revenue up 18%
Standalone EBITDA margin of 49%, Revenue up 7% and EBITDA up 29%,
and EBITDA more than doubling, now
disciplined cost control, and a return to margin expanding from 9% to 11%,
paired with a new capital-light
production —Maanya, Taal 2, Khalnayak 2 positive 2026-27 on higher admissions, a
management-contract model and a new
—alongside animation, OTT and live new MBA tie-up and a land matter nearing
strategic partner for long-term
entertainment. resolution.
profitability.
Mukta Arts Limited —Annual General Meeting 5
MUKTA ARTS PRODUCTION
A Return to Production Legacy
With cinemas seeing renewed audience momentum and a decisive industry-wide shift back
to theatrical-first releases, Mukta Arts Production is re-entering active production —building
a slate that spans a new original, a legacy franchise revival and a partnership-led sequel. An Industry-Wide
Shift Back to
Theatres
Maanya
New production now underway —a small but meaningful production with a strong
social message strongly demonstrating the new cost efficient model.
Domestic box office crossed ₹13,395 crore in FY
Taal 2 2025-26 gross terms —an all-time high —
• driven by a revival of content-led, original
A key area of focus this year, building on one of Mukta Arts' most iconic musical
franchises. Production to begin next year. storytelling and a healthy 'long tail' of films
beyond the big tentpoles.
Khalnayak 2
This momentum gives the studio confidence to
Rights deal done to secure profitability but demonstrating the value of the company’s commit fresh capital to a slate that blends new
existing IP in a multitude of syndication opportunities. stories with trusted franchises.
Mukta Arts Production 7
MUKTA ARTS PRODUCTION
New Growth Verticals: Animation & Streaming
Diversifying into complementary, less cyclical revenue streams alongside film
AN SGM Studios OTT OTT and Streaming
• A solid and experienced team is in place and ready to deliver on
• The Green Gold Animation partnership is progressing well. OTT platforms.
Green Gold’s strong production and execution ability is being • The strategy uses Mukta's own IP as a backbone, while also
complimented by SGM’s revolutionary creative approach. building original series content. Both fiction and non-fiction are
• Conversations with platforms for Mukta's reimagined IP are being developed including a documentary on the 50thyear of
moving strongly, opening a new distribution pipeline. Subhashjias a director.
• Both films and series are being developed for a mainly adult • Comes even as OTT platforms industry-wide have grown more
and young-adult audience, capitalizing on human creativity but selective and cost-disciplined —underscoring the value of owned
also strong AI tools. IP.
Mukta Arts Production 8
MUKTA ARTS PRODUCTION
Building a Live Entertainment Slate
Riding a segment that grew 44% in India last year, and one of the fastest-growing globally
VENUE
Eva Live × Mithoon Jio Gardens
A celebration of Subhash Ghai's musical legacy
Outdoor extravaganza concert format that should
have an attendance in excess of 20,000.
A landmark live property in partnership with Eva Live and composer Mithoon,
staged as an outdoor extravaganza at Jio Gardens in December—bringing
Subhash Ghai's decades of musical storytelling to a live, immersive stage TIMING
experience. December 2026
One property within a broader live slate.
Partnering with Eva Live who has a strong track record in delivering well crafted
Potential to move the production to other cities
events such as the Bollywood Music Project and the AR Rahman shows. and countries.
Mukta Arts Production 9
WHISTLING WOODS INTERNATIONAL
A Growth Engine, Strengthening on Every Metric
NEW STUDENT ADMISSIONS — JULY INTAKE Rev +7%
REVENUE FROM OPERATIONS
440 ₹5,842 Lacs, aided by the new July 2025 batch and growing KEM project
video production income.
EBITDA +29%
PROFITABILITY
EBITDA grew from ₹506 Lacs to ₹652 Lacs, expanding margin from 9% to
368 11%.
THE LAND MATTER
Final hearings on the Review Petitions before the Bombay High Court are
expected shortly; the Company remains confident of a favourable outcome
July 2025 July 2026 that would unlock significant campus expansion.
Whistling Woods International 10
MUKTA A2 CINEMAS
A Turnaround Year
A standout performer of FY 2025-26, on the back of a genuine cinema resurgence
Rev +18% EBITDA +127% -41%
REVENUE FROM OPERATIONS EBITDA MORE THAN DOUBLED NET LOSS NARROWED
Added ₹1,324 Lacs to the top line, on a Rose to ₹1,477 Lacs from ₹650 Lacs; margin Reported net loss narrowed to ₹941 Lacs from
genuinely stronger content slate. (IND-AS 116 adjusted) swung from -2% to +7%. ₹1,609 Lacs; PBT losses narrowed 58%.
HEALTHIER OPERATING METRICS, NOT JUST PRICING
Footfalls (Admits) Average
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