REG - Eros Media World PLC - EMWP Announces Significant Financial Milestones
03/03/2025 08:15
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RNS Number : 9817Y Eros Media World PLC 03 March 2025
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/ (https://erosmediaworld.com/)
Investor contact - Investors@erosintl.com (mailto:Investors@erosintl.com)
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