Hindustan Media Ventures Limited has informed the Exchange about Closure of operations
HMVL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Hindustan Media Ventures Limited has decided to stop offering new subscriptions for its OTTplay platform from March 31, 2026, while continuing to serve existing subscribers. OTTplay contributed Rs. 59.86 Crore in revenue (~8% of total) in FY25 but has a negative networth of Rs. 38.09 Crore, about 2% of the company's positive networth of ~Rs. 1,611.49 Crore. The company cited the inability to achieve sustainable long-term profitability within the expected timeline as the reason. This is not a full sale or shutdown of the unit, but a wind-down of new customer acquisition.
The financial hit to the company is limited since OTTplay is a small revenue contributor and already loss-making, so closure may eventually reduce losses. For shareholders, this signals management's willingness to exit unprofitable ventures, but the OTT business itself is being wound down rather than divested at a gain.