About Zee Studios Limited
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Zee Studios Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Zee Entertainment Enterprises Limited. It operates in the film and digital content production segment of the media and publishing sector. It was incorporated on 07 January 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74990MH2010PLC198648. Its GSTIN is 27AACCI2179P1Z1 (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹95.1 Cr and a paid-up capital of ₹88.91 Cr. It was formerly known as Essel Vision Productions Limited and Itm Digital Private Limited. It is led by directors including Sucheta Debnath Burman and Pankaj Purshottam Suroliya.
Its last annual general meeting (AGM) was held on 02 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 18th Floor A Wing Marathon Futurex Nm Joshi Marg Lower Parel Mumbai 400013, Maharashtra, India – 400013.
As per the financials filed for FY 2025, the company reported a revenue of ₹77.28 Cr, a decline of 48% compared to the previous year. For the same year it recorded a net loss of ₹37.12 Cr (net margin -48%) and EBITDA of -₹26.28 Cr (EBITDA margin -34%). Revenue has declined at a compounded annual rate (CAGR) of 23% over three years and 31% over five years.
The company has about 23 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary and 1 joint venture.
Court records list 82 cases involving the company, including 43 filed by the company and 39 filed against it; 13 cases are pending. The company has 10 deals on record (4 acquisitions, 2 convertible or debt financings, 2 debt financings), with disclosed funding of ₹444.72 Cr; the latest was in December 2020. Its 3 peer companies in the Media and Publishing industry (Film and Content Production), with the same principal business activity (motion picture, video and television programme production, sound recording and music publishing activities) are compared by revenue, 1 larger and 2 smaller; the largest is Futureworks Media Limited with revenue of ₹78.26 Cr. The company has 4 MSME Form 1 returns on record between 2019 and 2021, listing 113 overdue payments to 22 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website esselgroup.com.
Company details
Name history
Zee Studios has undergone 2 name changes throughout its history. The company was previously known as Essel Vision Productions Limited, and Itm Digital Private Limited. The current legal name is Zee Studios Limited.
| Company Name | Status |
|---|---|
| Zee Studios Limited | Current |
| Essel Vision Productions Limited | Previous |
| Itm Digital Private Limited | Previous |
CIN history
Zee Studios has one previous CIN (Corporate Identification Number): U74990MH2010PTC198648. The current CIN is U74990MH2010PLC198648, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74990MH2010PLC198648 | Current |
| U74990MH2010PTC198648 | Previous |
Contact details
Zee Studios Limited's registered office is in Mumbai, Maharashtra. Its website is esselgroup.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address18th Floor A Wing Marathon Futurex Nm Joshi Marg Lower Parel Mumbai 400013, Maharashtra, India – 400013
- IndustryMedia and Publishing, Film & Digital Content Production
To see the full contact details of Zee Studios Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Zee Studios is information and communication. In detail, this covers motion picture, video and television programme production, sound recording and music publishing activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J3 | Motion picture, video and television programme production, sound recording and music publishing activities |
To see the full business activity and turnover split of Zee Studios Limited, buy the company report.
Financials of Zee Studios Limited
FY 2025 filings availableZee Studios Limited reported revenue of ₹77.28 Cr (down 48% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 31% over five years, including a 48% fall in the latest year. EBITDA rose 14% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹26.28 Cr | ||||
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| Net Profit (PAT) | -₹37.12 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -34% | ||||
| Net Profit Margin | -48% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Zee Studios Limited, buy the company report.
Board of directors and KMP of Zee Studios Limited
Zee Studios Limited currently reports 3 directors and 1 key managerial person. 20 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mehul Shah Also directs: Media Pro Enterprise India Private Limited | Cfo | 08 Sep 2025 | 1 Years 1 Months | Current |
| Sucheta Debnath Burman | Director | 14 Jan 2020 | 6 Years 9 Months | Current |
| Pankaj Purshottam Suroliya Also directs: Rotate Onetouch Limited, Margo Networks Private Limited, Essel Finance Management LLP and 5 more | Director | 28 Apr 2018 | 8 Years 6 Months | Current |
| Mukund Venkatesh Galgali Also directs: Media Pro Enterprise India Private Limited, Essel Finance Advisors and Managers LLP, Zbullet Enterprises Limited and 3 more | Director | 30 Jun 2014 | 12 Years 4 Months | Current |
Peer comparison
Zee Studios Limited is compared with the 3 companies closest to it by revenue in the Media and Publishing industry (Film and Content Production), with the same principal business activity (motion picture, video and television programme production, sound recording and music publishing activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Futureworks Media Limited | ₹78.26 Cr (FY 2024) | 3.0% | Mumbai, Maharashtra, India | |||
| Zee Studios Limitedthis company | ₹77.28 Cr (FY 2025) | -₹37.12 Cr | -48% | -48.0% | 23 | Mumbai, Maharashtra, India |
| Baweja Studios Limited | ₹76.27 Cr (FY 2025) | 17.0% | Mumbai, Maharashtra, India | |||
| Qyuki Digital Media Private Limited | ₹76.2 Cr (FY 2025) | -5.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Zee Studios Limited, buy the company report.
Auditor
Zee Studios Limited is audited by Ford Rhodes Parks & Co. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Ford Rhodes Parks & Co. LLP | FY 2023 | 102860W/W100089 |
Shareholding
The shareholding of Zee Studios Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Zee Studios Limited, buy the company report.
Deals & funding
Zee Studios Limited has 10 deals on record (4 acquisitions, 2 convertible or debt financings, 2 debt financings), with disclosed funding of ₹444.72 Cr; the latest was in December 2020.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2020 | Acquisition | ₹275 Cr | Buyer: Zee Entertainment Enterprises Limited Seller: Zee Studios Limited |
| Jun 2017 | Acquisition | ₹78.64 Cr | Buyer: Zee Entertainment Enterprises Limited |
| Apr 2017 | Debt financing | ₹80.36 Cr | Investors: Zee Entertainment Enterprises Limited |
| Sep 2015 | Debt financing | ₹190 Cr | Investors: Zee Entertainment Enterprises Limited |
| Jun 2015 | Acquisition | ₹30 Cr | Buyer: Zee Entertainment Enterprises Limited |
To see the full deal history of Zee Studios Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Zee Studios Limited has 82 court cases on record: 43 filed by Zee Studios, 39 filed against it. 13 cases are pending and 69 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 73 | 33 | 10 |
| District courts | 9 | 6 | 3 |
Cases on record (5 of 82)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Rajasthan | Writ petition | Filed by the company against Rajasthan State Industrial Development and Investment Corporation Limited (Riico) and 1 other | Pending |
| High Court | Court case (COMIP) | Filed against the company by Trimurti Films Pvt Ltd Khaitan and Co | Pending |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Trimurti Films Pvt Ltd | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Commercial suit | Filed against the company by Zee Entertainment Enterprises Ltd and Anr | Pending |
| Bombay High Court | Court case (COMIP) | Filed against the company by Kyta Productions Private Limited | Pending |
To see the full case history of Zee Studios Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Zee Studios Limited has 4 MSME Form 1 returns on record between 2019 and 2021, listing 113 overdue payments to 22 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 22)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Vkonnect Tours & Travels Private Limited | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Zee Studios Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Zee Studios has 1 subsidiary company and 1 joint venture. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Zingool Unimedia Limited | U74120MH2016PLC274857 |
To see the full group structure of Zee Studios Limited, buy the company report.
Employees & EPFO
Zee Studios Limited has a workforce of 23 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
Zee Studios has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCI2179P1Z1 | Maharashtra | Active | 01 Jul 2017 |
| 08AACCI2179P1Z1 | Rajasthan | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Zee Studios Limited, buy the company report.
Recent activity
Zee Studios Limited has 23 board changes on record since 2011: 4 appointments and 19 cessations. The latest: Mehul Shah was appointed as CFO on 08 Sep 2025.
14 earlier events are in the company report.
News
Frequently asked questions
Zee Studios is an active public limited company based in Mumbai, Maharashtra, India. The company works in film and digital content production, within the media and publishing industry. It was incorporated on 07 January 2010 (16+ years old) and is registered under CIN U74990MH2010PLC198648.
Zee Studios has 4 current directors and KMP:
- Sucheta Debnath Burman - Director
- Pankaj Purshottam Suroliya - Director
- Mukund Venkatesh Galgali - Director
- Mehul Shah - Cfo
The latest financial statements of Zee Studios on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 02 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Zee Studios is 27AACCI2179P1Z1, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 08AACCI2179P1Z1 (Rajasthan).
The CIN (Corporate Identification Number) of Zee Studios is U74990MH2010PLC198648. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Zee Studios has 82 court cases on record: 43 filed by the company and 39 filed against it. 13 are pending. Most are in the high courts.
Zee Studios was incorporated on 07 January 2010, making it 16+ years old. It is registered with the Registrar of Companies, Mumbai.
Zee Studios has 10 deals on record (4 acquisitions, 2 convertible or debt financings, 2 debt financings), with disclosed funding of ₹444.72 Cr; the latest was in December 2020.
The peers of Zee Studios by revenue are Futureworks Media Limited, Baweja Studios Limited, Qyuki Digital Media Private Limited, all in the Media and Publishing industry (Film and Content Production), with the same principal business activity (motion picture, video and television programme production, sound recording and music publishing activities).
Mehul Shah was appointed as CFO on 08 Sep 2025. Sundeep Lakhpat Mehta ceased to be CFO on 05 Sep 2025. Shariq Kamil Patel ceased to be CEO on 05 Apr 2024. Zee Studios has 23 board changes on record in total.
Zee Studios has 4 MSME Form 1 returns on record between 2019 and 2021, listing 113 overdue payments to 22 micro and small suppliers. The latest return was filed on 27 Apr 2021.
Zee Studios can be reached through the website esselgroup.com. Its registered office is in Mumbai, Maharashtra, India.
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