Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Earning Release
DISHTV · price
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Dish TV India reported deeply negative Q4 FY26 results with operating revenues of ₹2,431 million, down 29.3% Y-o-Y, and EBITDA of ₹(700) million, translating to a -28.81% EBITDA margin. Full year FY26 operating revenues fell to ₹11,626 million from ₹15,676 million, with FY26 EBITDA at ₹(69) million. Subscription revenues declined sharply by 47.2% Y-o-Y in Q4 to ₹1,563 million and 35.6% for the full year to ₹8,863 million. The company attributed the decline to intensifying competition from OTT platforms, evolving consumer preferences, and macroeconomic pressures. Despite the challenges, the VZY Smart TV business crossed the ₹100 crore sales milestone, and the company continued its strategic transition towards a hybrid entertainment ecosystem combining DTH, OTT aggregation, and connected devices. Total expenses rose 27.1% Y-o-Y in Q4 to ₹3,131 million, outpacing revenue decline.
Dish TV is facing severe financial distress with deeply negative EBITDA margins and rapidly declining core subscription revenues, signaling structural business challenges from digital disruption. While the connected entertainment pivot shows early traction, the scale of revenue decline outweighs emerging growth areas, making the stock a high-risk bet on turnaround execution.