Zee Entertainment Enterprises Limited has informed the Exchange about Transcript of Investor Call
ZEEL · price
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ZEE reported that its digital platform ZEE5 achieved EBITDA breakeven in FY26, the first year ever, with Q4 digital revenues at INR4,700 million (up 71% YoY) and full-year growth of 53%. The TV network viewership share improved by 80 basis points to 17.4% in Q4, with flagship Hindi channel Zee TV delivering 40% GRP growth. However, advertising revenues declined 4% YoY due to the Middle East conflict impacting March spends. The company also changed its movie rights amortization policy to front-load recognition (50% in first 2 years vs. straight-line over 5 years), recognizing additional impairment of INR4,084 million. Management announced strategic investments of INR20 crores in CORE Private Limited (live events) and INR116 crores in Phantom Digital Effects Limited (VFX/AVGC). Cash and treasury investments remain strong at INR27.6 billion. Employee costs were reduced by 16% through omnichannel optimization.
ZEE5 achieving breakeven validates the digital strategy, but declining advertising revenue and lower margins (6.9% adjusted EBITDA) due to macro headwinds may weigh on near-term profitability. The strategic investments in VFX and live events signal intent to diversify but may take time to monetise.