Operates the Radio Mirchi FM radio network across India alongside the Gaana music streaming platform and an events and experiential marketing business. Consolidated FY26 revenue was ₹565 crore, up 3.9% year-on-year, with domestic revenue at ₹548 crore. Radio volume market share held steady despite macroeconomic and geopolitical pressure on ad markets in Q4. The digital (Gaana) business has become the primary growth engine, with non-FCT events revenue also contributing meaningfully to the top line. Subscription pricing on Gaana was raised, with management targeting FY27 breakeven. Other operating expenses, employee costs and depreciation are the main cost lines, while royalty payments run at 60-70% of digital revenue. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Radio advertising (FCT), Gaana digital music streaming, Events and experiential (Non-FCT). Media business straddling cyclical FM radio advertising and a fast-growing paid music streaming subscription business
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 323 | 440 | 536 | 544 | 565 |
| EBITDA (ex other income) | 48 | 68 | 107 | 79 | 35 |
| margin % | 14.8 | 15.5 | 20.0 | 14.4 | 6.2 |
| Owners' profit | (36) | (11) | 32 | 12 | (8) |
| EPS, as reported (₹) | (7.60) | (2.21) | 6.92 | 2.51 | (1.55) |
| ROE % · ROCE % | (4.8) · (2.7) | (1.4) · 0.6 | 4.3 · 5.9 | 1.5 · 3.5 | (1.0) · (1.8) |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 40 | 93 | 125 | 26 | 86 |
| Capex | (9) | (8) | (16) | (7) | (17) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 114 | 159 | 158 | 117 | 141 | 165 | 142 | 114 |
| Profit before tax | (2) | 12 | 16 | (8) | (6) | (12) | (5) | (7) |
| Net profit | (4) | 9 | 12 | (5) | (4) | (6) | 8 | (6) |
| EPS (₹) | (0.85) | 1.94 | 2.55 | (1.10) | (0.86) | (1.32) | 1.73 | (1.26) |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAREGAMA INDIA LIMITED | 9,738 | 43.9 | 5.74 | 26.4 | 12.2 | 15.7 | 17.4 | 37.0 |
| TIPS MUSIC LIMITED | 8,441 | 39.3 | 32.47 | — | 83.4 | 110.1 | — | 55.7 |
| NETWORK18 MEDIA & INV LTD | 4,109 | — | 0.82 | 38.0 | 3.1 | (2.8) | (14.7) | 2.3 |
| BALAJI TELEFILMS LIMITED. | 1,101 | — | 1.77 | — | (8.0) | (10.2) | (6.4) |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · CRISIL continues ENIL credit ratings on Watch Developing | credit debt | medium | — | — |
| 3 Sept 2026 · ENIL shares weblink for FY26 Annual Report and 27th AGM notice | investor communications | medium | — | — |
| 3 Sept 2026 · 27th AGM notice and e-voting details for ENIL | board shareholder meetings | low | — | — |
| 2 Sept 2026 · ENIL FY26 Annual Report: revenue dips, PAT swings to loss, digital up 84% | results | high | — | — |
| 2 Sept 2026 · ENIL 27th AGM on 25 Sep 2026; Dividend, Director and AOA Resolutions | board shareholder meetings | low | — | — |
| 2 Sept 2026 · ENIL submits FY26 Annual Report; 27th AGM on 25 September 2026 | compliance | medium | — | — |
| 2 Sept 2026 · THPL becomes new promoter of ENIL with 71.15 percent stake via demerger scheme | ownership changes | medium | — | — |
| 2 Sept 2026 · Times Horizon acquires 71.15 percent in ENIL via BCCL demerger scheme | strategic transactions | high | — | — |
| 2 Sept 2026 · BCCL transfers 71.15% ENIL stake to Times Horizon via scheme | ownership changes | medium | — | — |
| 1 Sept 2026 · Times Horizon becomes new promoter of ENIL after BCCL demerger | compliance | minimal | — | — |
| 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 |
| 12.4 |
| ENTERTAIN NET. IND. LTD. ◆ | 482 | — | 0.63 | 6.5 | (1.0) | (3.4) | 15.7 | 15.4 |
| SHEMAROO ENTER. LTD. | 342 | — | 1.28 | — | (81.6) | (106.4) | 13.4 | (0.9) |
| MUSIC BROADCAST LIMITED | 211 | — | 0.47 | — | (12.0) | (11.8) | — | 38.4 |
| GRADIENTE INFOTAINMENT L | 84 | 18.0 | 0.27 | — | 0.9 | 1.3 | — | 10.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.6 | 0.8 | 4 of 11 | 70% |
| ROCE | (3.4) | (2.8) | 8 of 13 | 42% |
| ROE | (1.0) | (1.2) | 6 of 13 | 58% |
| Debt / Equity | 0.0 | 0.0 | 3 of 13 | 58% |
| EBITDA margin | 15.3 | 12.4 | 6 of 13 | 58% |
| Revenue growth | (2.8) | (2.8) | 6 of 11 | 50% |
| Profit growth | (14.2) | 56.4 | 9 of 12 | 27% |
| Market cap | 482 | 211 | 5 of 13 | 67% |
| 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 |
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.
