EMWP Announces Significant Financial Milestones
Source: RNS
Eros Media World PLC
Announces Significant Financial Milestones
March 03, 2025
Mumbai, INDIA
Eros Media World PLC ("EMWP" or the "Company"), a leading global Indian film entertainment company, is pleased to announce that it has successfully repaid in full its outstanding bank debt in India, including principal and interest, totaling approximately USD 56 million at current exchange rates, over last three years.
At the Annual General Meeting held on February 28, 2025, the Company's India subsidiary, Eros International Media Limited ("EIML"), informed its shareholders that the full repayment was completed during Q3 of the fiscal year 2024-25. This follows the successful implementation of EIML's Debt Resolution Plan under the Reserve Bank of India's circular on "Resolution Framework for COVID-19 Related Stress," dated August 6, 2020. EIML had previously announced successful implementation of its Debt Resolution Plan on June 22, 2021, for an outstanding aggregate debt of INR ₹468.07 Crs. at the time.
This milestone marks a significant step in strengthening EMWP's financial position, ensuring a more robust foundation for the Company's future strategic initiatives.
Kishore Lulla, Director of Eros Media World PLC, stated: "With the successful repayment of our bank debt in India, we have significantly strengthened our financial health, reinforcing our long-term commitment to financial discipline. This achievement allows us to focus on growing our entertainment business and unlocking new opportunities for value creation."
Eros Media World remains committed to delivering high-quality content and expanding its global footprint, supported by a strong financial position and a debt-free status in India.
ABOUT EROS MEDIA WORLD PLC:
Eros Media World Plc, ("EMWP", the "Company") is a global media and entertainment company that acquires, co-produces and distributes films, digital content and music across multiple formats such as theatrical, television, OTT digital media streaming and emerging web 3.0 ecosystem to consumers around the world. Eros International Media Limited (EIML) is a subsidiary of EMWP, listed in India as EROSMEDIA (BSE: 533261 | NSE: INE416L01017)
For more details - https://erosmediaworld.com/
Investor contact - Investors@erosintl.com
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