ZEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ZEE reported its Q4 and full year FY26 results. ZEE5 achieved operational breakeven in FY26, delivering 53% revenue growth for the full year and 71% YoY growth in Q4 to INR 4,700 million. The company maintained its position as India's No. 2 TV entertainment network with network viewership share at 17.4%, up 80 basis points YoY. Zee TV Hindi GEC delivered 40% GRP growth. Advertising revenue declined 4% YoY due to the Middle East conflict impacting March 2026, though adjusted for March impact, advertising would have shown low single-digit growth. The company took a one-off charge of INR 4,084 million due to a change in movie rights amortization policy. Adjusted EBITDA margin stood at 6.9% in Q4. The Board approved investments of INR 116 crores in Phantom Digital Effects (VFX) and INR 20 crores in CORE Private Limited (Live business).
ZEE demonstrated operational progress with ZEE5 turning profitable and market share gains, but near-term headwinds from geopolitical uncertainty and advertising pressure may keep margins under pressure. The stock could see positive reaction to ZEE5 breakeven achievement, though weak Q4 revenue and unclear margin guidance may limit upside.