In October 2024, when director-producer Karan Johar’s Dharma Productions was gearing up nervously for the release of its Hindi-language film Jigra [Courage] in theatres, few knew that the 45-year-old production house, which has made some of India’s most loved films, had been struggling to survive.
Since 2019, most of Dharma’s films had not done well, and only one of the four films they released in theatres in 2024 had recovered some money.
