HATHWAY CABLE & DATACOM

Distributes cable television channels and fixed-line broadband internet to customers across India, with cable TV being the larger line by revenue. In FY26, cable television contributed 70.2% of segment revenue but ran at an operating loss, while broadband added 27.1% with a small operating profit. A 'dealing in securities' line brought in the remaining 2.7% and accounted for nearly all of the segment-level operating profit. Costs are dominated by other operating expenses at 81% of revenue and depreciation at 14.4%, with employees at just 4% — typical of an asset-heavy network business. The Reliance group and the Raheja family entities together form the promoter set, and a contingent liability of Rs 3,201.93 crore from Department of Telecommunications show cause notices over license fees is being contested without a provision.