BSE: 531910
JOJO LIMITED
Operates a Gujarati-focused media business built around its JOJO TV channel and digital content operations. JOJO TV is distributed across connected TV platforms, including TCL Smart TVs in India and the MENA region through a partnership with FALCON, and through a bundled offering on Dish TV's VZY Smart TVs. During FY26, the company acquired an online media streaming, film production, and digital content creation business from its subsidiary Navkar Events Private Limited, expanding its digital footprint. The group operates through 5 subsidiaries, including JOJO Studios Private Limited and JOJO Global Inc., and is classified under Film Production, Distribution & Exhibition. Costs are dominated by other operating expenses (46.2% of revenue) with no material input costs, while capital expenditure is heavy at 58.1% of revenue. The company reported an EBITDA margin of 44.6533% for FY26 on revenue of Rs 24.0141 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. TV channel operations (JOJO TV), Digital content and streaming, Film production, distribution and exhibition. Media and entertainment with focus on Gujarati-language TV and digital content distribution
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 5 | 4 | 24 |
| EBITDA (ex other income) | 0 | (0) | 2 | (1) | 10 |
| margin % | 42.1 | (32.2) | 38.6 | (18.4) | 42.7 |
| Owners' profit | 0 | 0 | 0 | 0 | 6 |
| EPS, as reported (₹) | 0.17 | 0.01 | 2.46 | 0.68 | 2.20 |
| ROE % · ROCE % | 2.4 · 2.9 | 0.2 · 0.2 | 7.4 · 7.9 | (3.9) · (1.1) | 10.4 · 15.5 |
| Debt / equity (x) | 0.00 | 0.00 | 0.21 | 0.15 | 0.06 |
| Cash from operations | (0) | (0) | 1 | (13) | 11 |
| Capex | 0 | 0 | (10) | (7) | (14) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 2 | 1 | 2 | 1 | 8 | 13 | 5 |
| Profit before tax | (1) | 1 | 0 | (0) | (1) | 5 | 5 | 1 |
| Net profit | (1) | 1 | 0 | (1) | 0 | 1 | 5 | 1 |
| EPS (₹) | (0.26) | 0.41 | 0.02 | 0.21 | 0.13 | 0.42 | 1.88 | 0.26 |
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. % |
|---|---|---|---|---|---|---|---|---|
| PANORAMA STUDIOS INTL. L | 1,536 | 44.7 | 6.95 | 45.9 | 4.5 | 6.0 | 32.2 | 24.7 |
| JOJO LIMITED ◆ | 391 | 42.2 | 7.22 | 36.1 | 10.4 | 15.5 | — | 45.0 |
| VASHU BHAGNANI INDUSTRIES LIMI | 387 | 118.6 | 2.62 | 98.2 | 2.1 | 2.0 | 37.1 | (101.5) |
| Diksat Transworld Limited | 228 | 63.7 | — | — | — | — | 8.4 | — |
| BABA ARTS LTD. | 112 | 163.5 | 4.07 | — | 2.4 | 3.0 | — | 2.5 |
| PICTUREHOUSE MEDIA LTD. | 34 | 58.6 | — | 15.1 | (0.9) | 0.3 | 18.1 | 27468.3 |
| MEDIAONE GLOBAL ENTERTAINMENT | 22 | — | — | — | 228.8 | (12.4) | — | (271.2) |
| JMD Ventures Limited | 20 | — | 0.59 | — | (3.4) | (3.3) | — | (1021.0) |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 42.2 | 44.7 | 4 of 11 | 70% |
| P/B | 7.2 | 1.2 | 14 of 14 | 0% |
| ROCE | 15.5 | 1.2 | 1 of 19 | 100% |
| ROE | 10.4 | 1.8 | 2 of 14 | 92% |
| Debt / Equity | 0.1 | 0.0 | 10 of 14 | 31% |
| EBITDA margin | 45.0 | 2.5 | 3 of 13 | 83% |
| Revenue growth | 152.6 | (20.2) | 2 of 13 | 92% |
| Profit growth | 277.5 | (44.7) | 1 of 13 | 100% |
| Market cap | 391 | 15 | 2 of 19 | 94% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Postal ballot seeks approval for 1:5 share split, from Rs 5 to Rs 1 face value | board shareholder meetings | low | — | — |
| 26 Oct 2026 · Board approves 1-for-5 stock split, subject to shareholder approval | corporate actions | high | — | — |
| 26 Oct 2026 · Revised filing details Dubai DIFC company incorporation plan | strategic transactions | medium | — | — |
| 23 Oct 2026 · Board to approve Q2 and half-year results on November 4, 2026 | results | low | — | — |
| 19 Oct 2026 · Board to consider 5:1 stock split; postal ballot planned | corporate actions | high | — | — |
| 16 Oct 2026 · Board approves incorporating a subsidiary in DIFC, Dubai | strategic transactions | medium | — | — |
| 13 Oct 2026 · Bonus shares allotted in 1:1 ratio, share count doubles to 13.79 crore | corporate actions | high | — | — |
| 12 Oct 2026 · Quarterly demat compliance certificate under SEBI Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 5 Oct 2026 · JOJO Limited sets Oct 12 2026 record date for 1:1 bonus share issue | corporate actions | high | — | — |
| 1 Oct 2026 · JOJO TV goes live on Samsung TV Plus FAST channel in India | business updates | medium | — | — |
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.