Sunshine Pictures Limited

• To meet the Working Capital Requirements₹11.25k Cr
• General Corporate Purposes

The Assistant Registrar of Companies, Maharashtra, Mumbai has filed a miscellaneous application (No. 687/MISC/2025) before the Hon'ble Metropolitan Magistrate, 40th Court, Girgaon, Mumbai against Sunshine Pictures Limited and its directors (Vipul Amrutlal Shah, Shefali Vipul Shah, Anil S. Masand, and Yogita G. Patil) alleging contravention of provisions of the Companies Act, 2013 and 1956. The complaint relates to accounting treatments and disclosures in financial statements for certain past financial years.

• Our success is primarily dependent on audience acceptance of our film, web series and TV serials, which is extremely difficult to predict and therefore inherently risky. The popularity and economic success of our projects depends on many factors including general public tastes, the actors and other key talent involved, the promotion and marketing of the project, the quality and acceptance of other competing programmes released into, or channels existing in, the marketplace at or near the same time, the availability of alternative forms of entertainment and leisure time activities, general economic conditions, the genre and specific subject matter of the film, its critical acclaim, the breadth and format of its initial release and other tangible and intangible factors, all of which can change, and are factors that we cannot predict with certainty and which may be beyond our control.(Business Related Risks)

• We are dependent on the Indian box office success of our films from which a significant portion of our revenues are derived and our ability to exploit and monetize our project is limited to the rights that we retain or own. In India, a relatively high percentage of a film’s overall revenues tend to be derived from theatre box office sales and in particular, from such sales in the first week of a film’s release. Indian domestic box office receipts may also be an indicator of a film’s expected success in other distribution channels. As such, poor box office receipts from our sole production films could have a significant adverse impact on our results of operations in both the year of release of the relevant films and in the future for revenues expected to be earned through other distribution channels.(Business Related Risks)

• A major portion of our revenue depends upon the box office success of our films and streaming deals with OTT platforms. Our revenue from operation constitutes; (i) production and distribution of films and associated rights; (ii) production and distribution of OTT/ TV Serials and associated rights; and (iii) other income comprising of income from music rights exploitation, talent management, social media platforms such as Youtube, Instagram and music label.(Business Related Risks)

• The popularity of a film’s creative talent, particularly the actors and directors, has in the past been an important guide to a film’s performance in theatres and our other channels of distribution. As we primarily invest in a portfolio of films across a wide variety of genres, stars and directors, it is highly likely that some of the films in which we invest may not appeal to the changing tastes of Indian audiences, in particular if such a shift in taste or trend is sudden.(Business Related Risks)

• We cannot predict the economic success of our projects as the revenue derived from our films/web-series depends primarily upon its acceptance by the public, which cannot be accurately predicted.(Business Related Risks)

• If we are unable to accurately judge audience acceptance of our film content or to have the film effectively marketed, the commercial success of the film will be in doubt, which could result in costs not being recouped or anticipated profits not being realized.(Business Related Risks)

• We cannot assure you that our film will generate enough revenue to offset its production, distribution and marketing costs.(Business Related Risks)

• In the past, we did not realize anticipated profits from some of our Projects, which we produced/co-produced, such as Action Replay, Kuch Love Jaisa, and Bastar – The Naxal Story.(Business Related Risks)