Its net profit for the fiscal Rs 0.45 crore compared to Rs 0.41 crore.
Also, the ratings agency Crisil has downgraded its long term rating on the bank facilities of Shaf Broadcast to ‘CRISIL BB-/Stable’ from ‘CRISIL BB/Stable’ and reaffirmed its ‘CRISIL A4+’ rating on the short term bank facilities. The downgrade reflects Crisil’s belief that the business risk profile will continue to remain under pressure, marked by a decline in the scale of operation and stretch in the working capital cycle.
The group’s working capital cycle has also increased, with gross current assets (GCA) at over 661 days as of 31st March 2019 as against 221 days as on 31st March 2018.
The company was incorporated in 1996 by PS Kohli and PR Suresh, and undertakes studio integration activities primarily for television (TV) channels and production houses.