Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 | Q4 FY23 | Q3 FY23 | Q2 FY23 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 266 | 243 | 299 | 291 | 329 | 344 | 373 | 396 | 455 | 407 | 470 | 479 | 500 | 505 | 552 | 596 | 609 | 643 | 711 | 718 | 731 | 752 | 816 | 846 | 836 | 869 | 868 | 893 | 926 | 1,399 | 1,517 | 1,594 | 1,656 | 1,532 |
| Other income | 5.6 | 10.8 | 5.7 | 8.2 | 4.8 | 6.7 | 9 | 5 | 5.7 | 5.2 | 4.3 | 6.7 | 3 | 8.5 | 14.7 | 5.4 | 4.6 | 6.7 | 4.9 | 4 | 8.4 | 3.5 | 3.1 | 4.4 | 14.9 | 3 | 3.1 | 3.6 | 4.6 | 9.6 | 12.1 | 14.7 | 15.7 | 12.7 |
| Total expenses | 558 | 484 | 511 | 432 | 426 | 417 | 429 | 438 | 463 | 426 | 472 | 468 | 475 | 747 | 567 | 572 | 590 | 608 | 607 | 667 | 673 | 955 | 724 | 767 | 748 | 816 | 846 | 880 | 900 | 1,491 | 1,483 | 1,580 | 1,637 | 1,612 |
| EBITDA | −109 | −70 | −41.5 | 31.9 | 72.8 | 97.3 | 123 | 145 | 164 | 165 | 180 | 195 | 213 | 15 | 262 | 313 | 324 | 353 | 426 | 427 | 439 | 426 | 504 | 525 | 551 | 543 | 506 | 520 | 536 | 415 | 518 | 541 | 557 | 401 |
| EBITDA margin | -40.9% | -28.8% | -13.9% | 10.9% | 22.1% | 28.3% | 32.9% | 36.5% | 36.1% | 40.6% | 38.4% | 40.8% | 42.5% | 3.0% | 47.4% | 52.5% | 53.2% | 54.9% | 59.9% | 59.5% | 60.0% | 56.7% | 61.8% | 62.1% | 66.0% | 62.5% | 58.3% | 58.3% | 57.9% | 29.7% | 34.1% | 33.9% | 33.6% | 26.1% |
| Finance costs | 67.6 | 68.3 | 68.4 | 69 | 64.1 | 64.5 | 71.1 | 66.4 | 66.7 | 69.8 | 65.4 | 65.7 | 66.1 | 57 | 74.2 | 73.7 | 73 | 79.8 | 77.8 | 83.6 | 83.3 | 92.5 | 97.4 | 107 | 122 | 143 | 137 | 138 | 147 | 148 | 130 | 159 | 178 | 133 |
| Depreciation | 116 | 103 | 102 | 104 | 105 | 106 | 107 | 121 | 105 | 115 | 117 | 119 | 122 | 200 | 202 | 215 | 232 | 238 | 244 | 292 | 297 | 536 | 315 | 339 | 342 | 347 | 347 | 369 | 363 | 359 | 353 | 368 | 361 | 347 |
| Profit before tax | −286 | −304 | −276 | −133 | −91.8 | −402 | −46.5 | −37.4 | −1.6 | −417 | 2.8 | 17.8 | 27.7 | −2,141 | −0.3 | 30 | 23.6 | −2,612 | 109 | 55.3 | 66.5 | −979 | 94.9 | 84.2 | 103 | −1,860 | 24.6 | 17.1 | 31 | −1,645 | 46.4 | 28.6 | 34.2 | −66.7 |
| Tax | 0 | 0 | 0 | 0 | 2.7 | 0 | 0 | 0 | 0 | 1,573 | 5.6 | 12.4 | 7.2 | −421 | 2.5 | 7.9 | 5.7 | −580 | 28.8 | 19.9 | 17.4 | 436 | 8.5 | 19.7 | 28.1 | −404 | 91.3 | 113 | 66.4 | −284 | −106 | 8.9 | 8.7 | −185 |
| Net profit | −286 | −304 | −276 | −133 | −94.5 | −402 | −46.5 | −37.4 | −1.6 | −1,990 | −2.8 | 5.4 | 20.5 | −1,721 | −2.9 | 22.1 | 17.9 | −2,032 | 80.2 | 35.4 | 49.1 | −1,415 | 86.4 | 64.5 | 74.5 | −1,456 | −66.8 | −96.4 | −35.4 | −1,361 | 153 | 19.7 | 25.5 | 118 |
| Net margin | -107.7% | -125.0% | -92.4% | -45.6% | -28.7% | -117.0% | -12.5% | -9.4% | -0.3% | -488.9% | -0.6% | 1.1% | 4.1% | -340.8% | -0.5% | 3.7% | 2.9% | -316.2% | 11.3% | 4.9% | 6.7% | -188.3% | 10.6% | 7.6% | 8.9% | -167.6% | -7.7% | -10.8% | -3.8% | -97.3% | 10.1% | 1.2% | 1.5% | 7.7% |
| EPS (₹) | -1.49 | -1.58 | -1.44 | -0.69 | -0.49 | -2.09 | -0.24 | -0.19 | -0.01 | -10.34 | -0.01 | 0.03 | 0.11 | -8.94 | -0.01 | 0.11 | 0.09 | -10.38 | 0.42 | 0.16 | 0.26 | -7.32 | 0.47 | 0.34 | 0.39 | -7.54 | -0.34 | -0.47 | -0.17 | -7.07 | 0.84 | 0.13 | 0.14 | 1.08 |
| Net profit YoY | −202.9% | +24.4% | −493.5% | −254.9% | −5959.6% | +79.8% | −1544.5% | −790.9% | −107.6% | −15.6% | +0.7% | −75.5% | +15.1% | +15.3% | −103.6% | −37.7% | −63.7% | −43.6% | −7.2% | −45.1% | −34.1% | +2.8% | +229.4% | +166.9% | +310.3% | −7.0% | −143.7% | −588.4% | −239.1% | −1251.6% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,163 | 1,568 | 1,857 | 2,262 | 2,802 | 3,249 | 3,556 | 6,166 | 4,634 |
| Other income | 29.4 | 26.4 | 19.3 | 33.2 | 23.9 | 15.6 | 13.6 | 52.2 | 54.2 |
| Total expenses | 1,853 | 1,746 | 1,842 | 2,476 | 2,554 | 3,183 | 3,442 | 6,191 | 4,786 |
| EBITDA | −6.9 | 529 | 754 | 913 | 1,644 | 2,017 | 2,106 | 2,044 | 1,316 |
| EBITDA margin | -0.6% | 33.8% | 40.6% | 40.4% | 58.7% | 62.1% | 59.2% | 33.2% | 28.4% |
| Finance costs | 270 | 269 | 267 | 278 | 325 | 418 | 565 | 629 | 396 |
| Depreciation | 414 | 439 | 472 | 849 | 1,071 | 1,532 | 1,426 | 1,441 | 1,072 |
| Profit before tax | −805 | −488 | −369 | −2,088 | −2,381 | −698 | −1,787 | −1,536 | −97.9 |
| Tax | 2.7 | 0 | 1,598 | −405 | −514 | 492 | −133 | −372 | −13 |
| Net profit | −807 | −488 | −1,967 | −1,684 | −1,867 | −1,190 | −1,655 | −1,163 | −84.9 |
| Net margin | -69.4% | -31.1% | -105.9% | -74.4% | -66.6% | -36.6% | -46.5% | -18.9% | -1.8% |
| EPS (₹) | -4.20 | -2.53 | -10.22 | -8.75 | -9.51 | -6.12 | -8.52 | -5.95 | -0.69 |
| Net profit YoY | −65.6% | +75.2% | −16.8% | +9.8% | −56.9% | +28.1% | −42.2% | −1270.3% | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating cash flow | 71.2 | 410 | 676 | 668 | 1,141 |
| Investing cash flow | −51.3 | −377 | −595 | −341 | −668 |
| Financing cash flow | −28.6 | −26.5 | −88.3 | −328 | −494 |
| Capital expenditure | 93.7 | 400 | 591 | 355 | 634 |
| Free cash flow (CFO − capex) | −22.5 | 9.9 | 84.8 | 313 | 507 |
Net profit trend
annual, ₹ croreFY21
₹−1,190
FY22
₹−1,867−57%
FY23
₹−1,684+10%
FY24
₹−1,967−17%
FY25
₹−488+75%
FY26
₹−807−66%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 11 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 11 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated | 26 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone | 26 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 6 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 6 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 14 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 14 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 12 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 12 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)-0.4×
P/B5Y avg 3.47×-0.11×
ROEFY26, on average equity22.2%
Net margin-69.4%
Debt / equity0.00×
Revenue CAGR (3Y)-19.9%
Profit CAGR (3Y)–
EPS (TTM)₹-5.43
Market cap₹436 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
-0.11×
vs 8-point avg 3.47× (−103%)
-0.11× low3.47× avg3.47× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,753 Cr−24%
Net worth₹-4,043 Cr−25%
Total borrowings₹0 Cr
Cash & bank balances₹27 Cr−24%
Investments₹12 Cr−54%
Inventories₹23 Cr+153%
Trade receivables₹65 Cr−19%
Trade payables₹411 Cr−1%
Change vs the same date a year earlier.
Revenue mix Q1 FY27
DTH business80.4%result ₹−199 Cr
LED TV business19.4%result ₹−23.6 Cr
Others0.3%result ₹−1.4 Cr
Segment revenue as reported, before inter-segment eliminations.