NSE: AMAGI · BSE: 544679
AMAGI MEDIA LABS LIMITED
Provides cloud-based broadcast and streaming technology to TV networks, content owners and OTT platforms worldwide, earning revenue from three segments. Streaming unification (₹838 crore in FY26, +26% YoY) runs the cloud playout and channel delivery infrastructure that powers linear and FAST channels. Monetization and marketplace (₹381 crore, +36%) sells ad-tech tools that help publishers monetize FAST inventory and trade advertising programmatically. Cloud modernization (₹286 crore, +32%) migrates broadcasters off on-premise systems onto Amagi's cloud stack. The platform handles 9,000-plus channel deliveries across 300-plus distributors in 40-plus countries, with 35 customers paying over $1 million and net revenue retention of 126%. It launched NEWSPULSE, its first agentic AI product, and publishes the quarterly AIRTIME report tracking FAST viewing hours and ad impressions across its delivery footprint. Costs are dominated by people (51.6% of FY26 revenue) and other operating expenses (45%), with negligible materials cost and limited capex (1.5% of revenue), reflecting a services-plus-software model. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Streaming unification, Monetization and marketplace, Cloud modernization. Asset-light, people-heavy cloud media technology and services business.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 1,506 |
| EBITDA (ex other income) | 50 |
| margin % | 3.3 |
| Owners' profit | 72 |
| EPS, as reported (₹) | 3.44 |
| ROE % · ROCE % | 4.1 · 5.2 |
| Debt / equity (x) | 0.00 |
| Cash from operations | (9) |
| Capex | (23) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 404 | 397 | 437 |
| Profit before tax | 35 | 41 | 40 |
| Net profit | 31 | 34 | 34 |
| EPS (₹) | 1.52 | 1.54 | 1.49 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 44,149 | 33.4 | 6.80 | 20.4 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 29,130 | 37.4 | 10.40 | 26.5 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,718 | 48.0 | 6.81 | 29.0 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 24,780 | 94.8 | 34.26 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,553 | 21.7 | 2.23 | 12.2 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,072 | 39.9 | 5.22 | 26.0 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,377 | 61.6 | 11.17 | 28.6 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 13,177 | 34.6 | 2.14 | 11.9 | 7.5 | 9.7 | 12.0 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 119.1 | 17.5 | 71 of 76 | 7% |
| P/B | 6.7 | 2.2 | 62 of 70 | 12% |
| ROCE | 4.8 | 9.6 | 61 of 86 | 29% |
| ROE | 4.1 | 9.2 | 47 of 70 | 33% |
| Debt / Equity | 0.0 | 0.0 | 1 of 70 | 74% |
| EBITDA margin | 10.9 | 13.0 | 45 of 69 | 35% |
| Market cap | 11726 | 296 | 9 of 87 | 91% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Cyber extortion claim involving company system data | regulatory legal | high | — | — |
| 22 Oct 2026 · NDTV adopts Amagi AdFlow Orchestrator for streaming TV ads | business updates | medium | — | — |
| 20 Oct 2026 · Earnings call set for Q2 and H1FY27 results on November 6, 2026 | board shareholder meetings | low | — | — |
| 19 Oct 2026 · Board meeting on Nov 5 to consider Q2 and H1 FY27 results | results | low | — | — |
| 13 Oct 2026 · Quarterly RTA certificate filed under SEBI Depositories Regulations for July-September 2026 | compliance | minimal | — | — |
| 7 Oct 2026 · SBI Mutual Fund raises stake in Amagi Media Labs to 9.65% | ownership changes | medium | — | — |
| 29 Sept 2026 · The officials of the Company will be participating in a Non-Deal Roadshow (NDR) to meet investors in London/ Edinburgh on October 05, 2026. | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1, 2026 ahead of Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · Amagi Media Labs 18th AGM: All 7 Resolutions Approved by Shareholders | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Amagi Media Labs holds 18th AGM; seven resolutions passed including MD re-appointment | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.