BSE: 543831
Bright Outdoor Media Limited
Operates as an out-of-home (OOH) advertising company with a Mumbai-centric footprint, monetising hoarding sites and digital LED billboards rented to brand advertisers. Multi-year public-infrastructure contracts are the main revenue backbone: a 7-year Western Railway contract worth INR60 cr covering 17,555 sq ft across 11 sites, and a 10-year CIDCO Navi Mumbai Metro Line 1 contract covering ~85,000 sq ft across 11 stations. The company also runs a small real estate segment. Beyond core OOH, it is diversifying into events, celebrity management, ad film, digital, cinema, PR and radio, targeting INR35-45 cr (20-25% of incremental FY26 revenue) from these new services, with a maximum INR5-10 cr investment. FY26 revenue from operations was INR153.03 cr, up 20.7% year-on-year, with reported ROCE of 17.49%. The biggest cost line is other operating expenses at 75% of revenue — primarily rental/lease on hoarding sites — guided to rise 10-15% in FY26 and FY27 on the new Western Railway and Metro wins. Employees cost 3.6% of revenue. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Advertising & Publicity (OOH hoardings, LED billboards, events, integrated media), Real Estate. Asset-light, Mumbai-centric OOH advertising with long-tenure public-infrastructure contracts and a new-events diversification push
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 92 | 107 | 127 | 153 |
| EBITDA (ex other income) | — | — | — | — |
| margin % | — | — | — | — |
| Owners' profit | — | — | — | — |
| EPS, as reported (₹) | 6.94 | 11.45 | 13.11 | 12.26 |
| ROE % · ROCE % | — · 12.4 | — · 15.1 | — · 15.5 | — · 17.5 |
| Debt / equity (x) | — | — | — | — |
| Cash from operations | (7) | (18) | 5 | 4 |
| Capex | — | — | (6) | (1) |
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 47 | 41 | 65 | 57 | 70 | 63 | 91 |
| Profit before tax | 4 | 6 | 16 | 12 | 13 | 14 | 19 |
| Net profit | — | — | — | — | — | — | — |
| EPS (₹) | 2.88 | 3.01 | 8.43 | 12.53 | 13.68 | 11.54 | 12.98 |
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. % |
|---|---|---|---|---|---|---|---|---|
| SIGNPOST INDIA LIMITED | 1,272 | 17.3 | 4.37 | 9.6 | 24.1 | 24.9 | — | 23.1 |
| Bright Outdoor Media Limited ◆ | 733 | 6.6 | — | — | — | 17.3 | — | — |
| R K SWAMY LIMITED | 394 | 17.3 | 1.49 | 7.0 | 8.4 | 9.7 | — | 13.1 |
| DIGICONTENT LIMITED | 129 | 105.8 | 3.50 | 6.2 | 2.2 | 3.4 | 14.4 | 2.0 |
| Chatterbox Technologies Limite | 46 | 9.1 | — | — | — | 17.6 | — | — |
| TOSS THE COIN LIMITED | 30 | 10.7 | — | — | — | 25.5 | — | — |
| Sungold Media and Entertainmen | 28 | 560.0 | 2.38 | — | 0.2 | 0.3 | — | 5.3 |
| THINKINK PICTUREZ LIMITED | 26 | 9.0 | 0.17 | — | 0.9 | 1.1 | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.6 | 9.1 | 4 of 11 | 70% |
| ROCE | 17.3 | 10.0 | 4 of 11 | 70% |
| Revenue growth | 38.3 | 11.6 | 1 of 7 | 100% |
| Market cap | 733 | 29 | 2 of 12 | 91% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Bright Outdoor Media H1 FY27: Income up 13.5%, Net Profit up 9.5% | results | medium | — | — |
| 17 Oct 2026 · Bright Outdoor Media adds 22 new sites and 104 displays in Mumbai MMR | business updates | medium | — | — |
| 16 Oct 2026 · Bright Outdoor Media H1 FY27 results: revenue Rs 7,119L, PAT Rs 1,103L | results | medium | — | — |
| 16 Oct 2026 · Bright Outdoor Media H1 FY27 PAT up 9.5 percent at Rs 11.03 cr, revenue Rs 71.19 cr | results | high | — | — |
| 13 Oct 2026 · Compliance Certificate under Reg 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 12 Oct 2026 · Board Meeting Rescheduled to October 16, 2026 | results | low | — | — |
| 8 Oct 2026 · Bright Outdoor Media creates 30ft Samay Raina shirt billboard campaign | business updates | medium | — | — |
| 6 Oct 2026 · Board meeting on Oct 12 to consider H1 FY27 results | results | low | — | — |
| 29 Sept 2026 · AGM Results: All 4 Resolutions Passed; Rs 0.50 Dividend Declared | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Trading window closed for H1FY26 results disclosure | compliance | minimal | — | — |
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.