Creative Eye Limited Stock Analysis

Company is listed on both BSE (532392) and NSE (CREATIVEYE), indicating it meets dual-exchange listing requirements and has some institutional accessibility. / The filing does confirm that Statutory Auditors have issued Limited Review Reports for both periods, meaning external audit oversight exists even if results are delayed. / The company maintains a registered compliance officer (Prema Dubey, Company Secretary) and formal corporate governance infrastructure, indicating minimum regulatory framework is in place. / The simultaneous filing, while delayed, does attempt to bring disclosures current across two quarters, which could represent a remediation effort rather than continued non-disclosure.

Critical data gap: The board meeting outcome letter references Annexure A and Annexure B containing actual financial statements for Q2 FY26 (Sep 2025) and Q3 FY25 (Dec 2024), but these annexures contain no extractable numerical data, making fundamental analysis impossible. / Significant reporting delay red flag: The company is filing Q2 FY26 results (quarter ended Sep 30, 2025) and Q3 FY25 results (quarter ended Dec 31, 2024) simultaneously on Feb 17, 2026 — suggesting multi-quarter reporting lapses that raise serious corporate governance concerns. / Regulatory non-compliance risk: Filing financial results for multiple quarters in arrears (Q3 FY25 and Q2 FY26 together) indicates likely violations of SEBI LODR regulations requiring timely quarterly disclosures within 45 days of quarter end. / Transparency deficit: No forward-looking statements, no strategic initiatives, no management commentary, and no operational updates are included in the disclosed document, leaving investors with zero visibility into business direction or performance trajectory. / Small-cap media sector vulnerability: Creative Eye operates in a highly competitive, fragmented Indian content production industry where cash flow sustainability and client concentration risks are structurally elevated, compounded by the absence of any financial disclosure here. / Investor confidence erosion: The pattern of delayed multi-quarter filings in a single board meeting, with no explanatory communication to shareholders, signals potential operational distress or management disengagement that historically precedes further deterioration in small-cap companies.

Mr. Sanjay Rane brings 30 years of finance and accounts experience including 27 years specifically at Creative Eye Limited, providing deep institutional knowledge of the company's operations / The company maintained regulatory compliance by promptly reconstituting all three mandatory committees (Audit, Nomination & Remuneration, and Stakeholder Relationship) on February 16, 2026, the same day as the board meeting / Mr. Rane's background includes 3 years with a reputed Chartered Accountancy firm and current experience in hotel industry financial management, demonstrating cross-sector financial expertise / The board acted swiftly to fill the vacancy left by the departing Independent Director, avoiding any extended period of committee non-compliance

The appointment of a Non-Independent Director (Mr. Sanjay Rane) to replace an Independent Director (Mr. Madan B. Gasavi) weakens board independence, now leaving only 2 Independent Directors (Mr. Charuhas Patil and Smt. Matty Vishal Dutt) on critical oversight committees / Mr. Sanjay Rane's 27-year employment history at Creative Eye Limited as Accounts Manager raises independence concerns despite his Non-Independent Director classification, as he may lack objectivity on the Audit Committee / The sudden resignation of Independent Director Mr. Madan B. Gasavi effective January 30, 2026 (disclosed 17 days later), citing vague 'personal reasons and pre-occupations,' follows a pattern that often signals undisclosed governance disputes or strategic disagreements / Complete absence of financial performance data, operational metrics, revenue updates, or strategic initiatives in this board outcome disclosure prevents investors from assessing the company's fundamental business health during this governance transition / Mr. Gosavi's departure leaves him with only one other listed company directorship (3I Infotech Limited), suggesting he may have specific concerns about Creative Eye Limited's direction rather than general bandwidth constraints / The composition of all three committees now includes the same three directors, creating concentration risk in oversight and reducing diversity of perspectives across critical governance functions