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Balaji Telefilms Limited
NSE: BALAJITELE BSE: 532382 INE794B01026 Consumer Discretionary Entertainment 🔎 Screen
₹1,002 Cr
Market Cap
19.2
P/E
0.74
PEG
-9.5%
ROCE
-7.7%
ROE
0.04
D/E
-42.0%
OPM
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
Shareholding
About

Incorporated in 1994, Balaji Telefilms Ltd is in the business of production of TV content, Films, event business, B2C and B2B digital content business and operates a SVOD, OTT platform, etc.

✓ Strengths 1
  • Company is almost debt free.
! Concerns

No concerns data yet.

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📈 Growth Pattern
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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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Weak quarter — consolidated revenue fell 28% YoY to ₹47.6 Cr, with PAT loss of ₹14.2 Cr, driven by sharp contraction in commissioned and movie segments. quarter Investor Presentation One-Pager? Mar 2026
Revenue
₹47.6 Cr
-28% YoY (₹66.3 Cr in Q4 FY25); full-year ₹210.8 Cr, -53% YoY
EBITDA Margin
Not explicitly stated
Segmental EBIDTA losses: Commissioned (TV+Digital) -₹13.4 Cr, Movie -₹31.2 Cr, Digital (B2C) -₹19.4 Cr for FY26
PAT
₹-14.2 Cr
vs +₹94.0 Cr in Q4 FY25 (which included deferred tax credit); full-year PAT -₹49.6 Cr vs +₹84.6 Cr in FY25
Key Metric
Revenue per hour ₹34 lacs
FY26 vs ₹29 lacs in FY25; but total production hours fell to 408 from ~1,500+ in prior years
What Went Right
  • Cash reserves strong at ~₹163 Cr in banks and mutual funds as of date.
  • Digital B2B order book exceeded ₹350 Cr with leading OTT platforms.
  • Successfully launched 'Bhooth Bangla' with worldwide gross box office over ₹240 Cr.
  • Kyunki Saas Bhi Kabhi Bahu Thi 2 and Naagin 7 topped TRP charts.
  • Strategic long-term collaboration with Netflix announced; 'Lock Upp' coming to Netflix.
What to Watch
  • Consolidated revenue collapsed 53% YoY in FY26 to ₹210.8 Cr from ₹453.1 Cr in FY25.
  • All three segments reported EBIDTA losses: Commissioned (TV+Digital) -₹13.4 Cr, Movie -₹31.2 Cr, Digital (B2C) -₹19.4 Cr for the full year.
  • Gross margin on standalone basis plunged to 10% in FY26 from 24% in FY25, reflecting cost overruns or lower realisation.
  • PAT swung to a loss of ₹49.6 Cr in FY26 from a profit of ₹84.6 Cr in FY25, driven by operating losses and lack of prior-year tax credits.
  • Movie segment revenue was only ₹15.3 Cr for the full year, indicating a weak pipeline execution despite 'Bhooth Bangla' theatrical success.
Investor Lens
The investment thesis is significantly weakened by a 53% revenue collapse and deep segmental losses across the board. While the company boasts a strong cash reserve (₹163 Cr) and a growing order book (₹350+ Cr), the current quarter shows no signs of a turnaround in profitability. The Netflix partnership and new initiatives (Kutingg, AstroGuide, Hoonur) are early-stage and did not prevent the FY26 loss. Key watch items for next quarter: (1) trajectory of commissioned (TV) revenue, which still drove 76% of revenue but at negative EBIDTA; (2) movie pipeline of 4 films in FY27 must show pre-sales recovery to de-risk the model; (3) digital (B2C) costs need to moderate as subscriber growth (ALT, Kutingg) fails to offset losses. Without a clear path to positive EBIDTA within 2 quarters, the stock remains a high-risk turnaround bet.
From investor presentation · AI-generated analysis · Not investment advice
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📉 WEAK Revenue down 27% YoY; net loss of ₹14 Cr, but QoQ improvement
Revenue
Revenue fell 27.3% YoY to ₹48 Cr, but recovered 14.3% QoQ from the previous quarter. The decline YoY indicates persistent demand weakness.
Profitability
Net loss of ₹14 Cr compared to a profit of ₹114.9 Cr YoY, though loss narrowed 44% QoQ. EPS turned negative at -₹1.15 vs ₹7.85 a year ago.
Margins
Operating margin was -36%, worse than -29% YoY but a sharp improvement from -76% QoQ. The loss is driven by high cost structure relative to revenue.
Cash Flow
No cash flow data provided.
Balance Sheet
Low borrowings of ₹19 Cr and reserves of ₹600 Cr provide a strong equity base. Debt-to-equity ratio is minimal at 0.04.
Key Risks
Continued revenue decline YoY and negative operating margins pressure profitability. The net loss, though improving QoQ, remains a concern for sustained cash generation.
Outlook
The QoQ recovery in revenue and margins suggests a bottoming out, but YoY declines highlight structural challenges. Sustained improvement in revenue and cost control will be critical for returning to profitability.
Generated by AI · Mar 2026 results · Not investment advice
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Revenue by Segment

Segment Q2FY26 Q3FY26 Trend
Commission Programs
38
EBIT -5
25
EBIT -11
Digital
6
EBIT -3
10
EBIT -2
Films
5
EBIT 2
7
EBIT -17
Total 49 42

Source: NSE Integrated Filing XBRL (Reg. 33 Ind AS). Values in ₹ Crore.

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📊 Analysis Methodology

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