| Revenue growth | ZEE5 revenue grew 58% YoY. |
|---|---|
| Margins | EBITDA margin compressed to 4.1% from 12.5% YoY due to programming costs. |
| Demand visibility | Ad recovery seen in June post-FIFA acquisition; linear subscription pricing driving growth. |
| Management confidence | Positive outlook on digital business momentum and FIFA viewership gains. |
Growth
Revenue grew 5% YoY; Subscription revenue rose 16% YoY. EBITDA declined 65% YoY to Rs 789 Mn with 4.1% margin.
Outlook
Focus on FIFA 2026 rights and digital growth. Maintaining healthy balance sheet with Rs 22.1 Bn cash.
Risks
Ad revenue down 11% YoY citing Middle East Crisis and cricket competition. Higher A&P spends for sports.
Last quarter's promises, checked
Delivered
- Digital breakeven objective → ZEE5 EBITDA positive at 44 Mn (= BEAT)
- Costs to stabilize after Q2 bump → Q1 FY27 EBITDA margin 4.1% vs 7.4% in Q2 (= BEAT)
- Revenue uptick in H2 FY26 → Q1 FY27 revenue up 5% YoY (= BEAT)
Partly delivered
- Subscription revenue growth → delivered 16% YoY (= BEAT)
Missed
- Ad revenue growth 6-8% → delivered -11% YoY (= MISS)
- Exit margin 18-20% → delivered 4.1% (= MISS)
Earnings Call Transcript filed with NSE, NSE: ZEEL. Summary written with AI assistance from the document.
Zee Entertainment Enterprises Ltd: key numbers
- Share price
- ₹70.63
- Market cap
- ₹6,784 Cr
- Revenue (annual)
- ₹8,099 Cr
- Net profit (annual)
- ₹273.1 Cr
- P/E (TTM)
- 33.0×Sector 27.5×
- Promoter holding
- 3.99%+0.00% QoQ
- FII holding
- 20.11%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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