1. At a Glance – The Bollywood Comeback That Nobody Ordered
Ladies and gentlemen, grab your popcorn. Because this is not just a company — this is a full-blown Bollywood reboot.
Aqylon Nexus Ltd (formerly Sri Adhikari Brothers Television Network) is like that actor who gave a blockbuster in the 90s, disappeared for 20 years, and has now returned claiming to build an AI data centre worth ₹4,000 crore. Yes, you read that right — from producing TV content like SAB TV comedy shows to suddenly talking about hyperscale AI infrastructure.
Meanwhile, the actual numbers? Revenue of just ₹4.95 crore this quarter. Profit of ₹1.48 crore. Market cap? ₹1,352 crore. Book value? ₹0.03. Price-to-book? A jaw-dropping 1,649x.
This is not a typo. This is a financial thriller.
And just when you think things can’t get crazier, the company:
- Had multiple director resignations after change in control
- Was under CIRP (insolvency process)
- Has a CRISIL D rating (default category)
- And now wants to become an AI + data centre giant
This is less of a business story… and more of a Netflix docuseries waiting to happen.
So the real question is:
👉 Is this a phoenix rising from ashes… or just smoke without fire?
2. Introduction – From SAB TV to AI Data Centres… Because Why Not?
Let’s start with what the company used to be.
Aqylon Nexus was originally a media and entertainment company. It produced content, ran TV channels like SAB TV, Mastii, Dabang, etc., and basically tried to make you laugh after dinner.
Then things went… downhill.
Revenue collapsed. Losses piled up. Assets shrank. The company practically stopped doing meaningful business.
From ₹138 crore revenue in FY17 to almost zero operations in later years — this is not decline, this is financial vanishing.
Then came the twist.
New management entered. Old directors exited. Company got renamed. And suddenly:
- AI data centres
- Telangana MoU
- ₹4,000 crore project announcements
- Promoter loans convertible into equity
- Share split (10:1)
- Borrowing limits increased to ₹500 crore
This feels like someone watched too many startup pitch videos and said:
“Let’s pivot into AI… investors love that.”
But here’s the uncomfortable reality:
- Revenue is still tiny
- Operations are still weak
- Balance sheet is still fragile
- Credit rating says “default risk”
So ask yourself:
👉 Are we seeing a genuine transformation… or a narrative upgrade?
3. Business Model – WTF Do They Even Do?
Short answer: Nobody is fully sure anymore.
Long answer:
Old Business
- Content production
- TV broadcasting
- Syndication of shows
Basically: Make shows → Sell to channels → Earn revenue
Current Reality
- Almost no meaningful operating revenue
- Income mostly from “other income” (rent, interest, etc.)
New Dream Business
- AI hyperscale data centres
- Infrastructure projects
- Technology pivot
This is like a chaiwala suddenly saying:
“Next quarter I’m launching a semiconductor fab.”
Possible? Yes. Likely? You decide.
The Telangana MoU talks about:
- 50 MW AI data centre
- ₹4,000 crore investment
- 20 acres land
But here’s the catch:
👉 The current quarterly revenue is ₹4.95 crore.
So let’s pause.
Can a company with ₹5 crore revenue suddenly execute ₹4,000 crore infrastructure?
Or is this more of a “PowerPoint valuation model”?
4. Financials
