Pursuant to Regulation 30 read with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the following: a. Approved Standalone Audited ....

gupta s[ Kustagi Co, Chartered Accountants N D A lndependent Auditors Report on Standalone Flnancial Results Pursuant to the Regulation 33 of the SEBI (Usting Obllgations and Disclosure Requirementsl Regulations, 2015 The Board of Directors Sahara One Media and Entertainment Limited, Mumbai Qualified Opinion We have audited the accompanying statement of standalone financial results of Sahara One Media And Entertainment Limited ('the Company') for the quarter and year ended March 31, 2026 attached herewith (Statement), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulation"). Except the effects of matters described in bosis lor quolified opinion porograph below, in our opinion and to the best of our information and according to the explanations given to us, the statement: a) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and b) give a true and fair view in conformity with the recognition and measurement principles laid down in applicable Accounting Standards prescribed under section 133 of the Companies Act, 2013(the "Act") and other accounting principles generally accepted in lndia of the net Loss and total comprehensive incomeandotherfinancial informationoftheCompanyforthethreemonthsandyearendedMarch 31, 2026. Basisfor Qualified Opinion a) Attention is invited to the matter of deposit of Rupees 694,027.88 Thousand to Sahara-SEBI Refund account in the matter of dispute in respect of repayment of Optionally Fully Convertible Debentures (OFCDs) by two group companies, namely M/s Sahara lndia Real Corporation Limited & Sahara Housing lnvestment Corporation Limited with Security and Exchange Board of lndia (SEBI).The Honourable Supreme Court of lndia vide its order dated 21-11-2013 had directed that Sahara Group of Companies shall not part with movable and immovable properties and accordingly'SEBI' has seized the company's Fixed Deposit and Non-Current lnvestment. Subsequent to this, Hon'ble Supreme Court vide it's order dated 4th June, 2014 has directed to defreeze the Fixed Deposit account of the company subject to condition that total proceeds would be transferred to special account opened by the 'SEBI'. However, the matter is pending at Honourable Supreme Court of lndia; we are unable to comment on the consequential impact, if any, of the same on the financial result of the company. b) Material uncertainty over going concern: The company has prepared its financial statements on a going concern basis, notwithstanding the fact that the company does not have sufficient fund to pay its creditors, recovery from debtors is pending since long, advances given for movie production has stuck with the parties as company is unable to invest further fund and operational performance of the company is comparatively low in comparison to its peers. These events cast significant doubt on the ability of the Company to continue as a going concern. The financial results do not adequately disclose these matters. Further, due to certain non-compliance of regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Securities and Exchange Board of lndia (SEBI) has initiated penal actions as per circular no. SEBI/HO/CFOICMD/CIRIPl2020lL2 dated January 22, 2020 (SEBI SOP Circular) and has levied fines and the trading of the shares of the company has been suspended since long and in further action the SEBI may freeze Demat account of Promoters. c) Attention is invited to long pending content advances of Rupees 1,91,600 Thousand given to producersfilm houses/actors for acquisition/development Film content/rights. There is substantial delay in completion of the projects. Company's ability to m aterialise content advances into the film rights for exploitation is dependent on its funding the balance commitment agreed under the contracts. ln view of the above and financial position of the company, recoverability of content advance or its materialization into film rights is doubtful. However as per agreemen! the Ghatkopar : 620, Goldcrest Business Park, Behind HDFC Bank, Near Shreyas, L.B.S. Road, Ghatkopar (W), Mumbai - 400 086 Phone No | +91 22 4973 3968 I 4973 4015 Fort Office : Office No. 168, Khatau Building, 1st Floor, 8/10 Alkesh Dinesh Modi Marg, (Shahid Bhagat Singh Road), Fort, Mumbai - 400 001 . Phone No i +91 22 40022072 / 4004 6887 pay the entire amount and in case of default, his entire IPR and negative rights of the movie will be transferred to the company. d) The bank balance confirmation of bank accounts having book balance of Rupees 2l2g.zlThousand as on 31.-03-2026 could not be obtained as these accounts are in dormant status. Had balance confirmations been received, there may have been additional adjustments required to the financial result which are not determinable, at this stage. e) The company is carrying investment in subsidiary at cost. The carrying amount of the investment in the subsidiary exceeds the carrying amount ofthe subsidiary's net assets including associated goodwill in the consolidated financial statements as on date. This situation triggers an impairment review but company has not tested its investment in subsidiaryfor impairment. Had impairment review done bythe company, the loss of the company would have been higher than reported loss and value of investment would have been lower to the extent of such impairment. The licence period of the media contents television rights given in earlier years to related party customer has expired but the company has not entered any new agreem ent while the contents are still being used by the customer. The management has replied that company is in talks with the party and fresh agreement with the party will be entered soon. Had this agreement was made; the revenue of the company would have been higher than the reported value. We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the lnstitute of Chartered Accountants of lndia ("lCAl") together with the ethical requirements that are relevant to our audit ofthe Standalone Financial Results under the provisions ofthe Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the lcAl's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our qualified audit opinion. Emphasis of Matter The Gratuity Trust in which company was making gratuity contribution was dissolved and Trust has refunded the amount pertains to the company but company has neither created any recognized gratuity fund Trust nor made any other arrangement to deposit this amount to any other recognized Gratuity Fund Trust. Our opinion is not qualified in respect of this matter. The bon us liability of Ru pees 260.25 Thousand up to Financial Year 202L-22 is lying u npaid as on date. As per section 19 of the Payment of Bonus Act, 1965 the payment of bonus should be made within eight month from the close of the relevant financial year otherwise company would be subjected to penalty under section 28 of the Payment of Bonus Act, 1965. Our opinion is not qualified in respect of this matter. Management's ResponslHlities for the Standalone Financial Results These standalone annual financial results have been prepared on the basis of the standalone annual financial statements. The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial resul [Showing first 8,000 characters — download PDF for full document]