Hindustan Media Ventures Limited (HMVL) Financial Results — Revenue ₹558 Cr

Investor Takeaways

Print advertising revenue grew 8-12% YoY in Q4FY26, driven by pricing and circulation revenue up 4% from higher copy volumes

EBITDA margin expanded 100 bps to 23% in Q4FY26, supporting full-year net profit margin of 8%

Cash position exceeded INR 1,000 crore, with exits from non-core ventures including OTTplay and surrender of six radio frequencies

No shareholder returns planned despite strong cash reserves, with strategic focus on core and digital investments for long-term value creation

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹558 Cr	N/A
Net Profit	₹96 Cr	N/A
EBITDA	N/A	N/A
EPS	N/A	N/A
OPM	N/A	N/A

What Changed

The filing reveals a clear strategic pivot toward core and digital operations, marked by the exit from non-core ventures and operational improvements. Print advertising revenue demonstrated resilience with 8-12% YoY growth in Q4FY26, supported by a 4% increase in circulation revenue from higher copy volumes. This contributed to EBITDA margin expansion of 100 bps to 23% in Q4FY26, which helped maintain a full-year net profit margin of 8%. The company strengthened its financial position by exiting OTTplay and surrendering six loss-making radio frequencies, resulting in a robust net cash position exceeding INR 1,000 crore. Quarterly trends show improving profitability: Q4FY25 recorded ₹17.99 Cr profit with 0.92% OPM, up from Q3FY25’s ₹13.87 Cr profit and -8.42% OPM, indicating operational stabilization. The full-year revenue of ₹558 Cr and net profit of ₹96 Cr reflect a significant turnaround from previous quarters, where Q1FY25 and Q2FY25 posted losses. Management emphasized that capital allocation will prioritize strategic investments in core and digital businesses over shareholder returns, despite the strong cash reserves. Peer comparisons show HMVL’s P/E ratio of 10.94 is significantly lower than Nazara Technologies’ 206.86 and Prime Focus’ negative P/E, suggesting market skepticism about future earnings growth relative to peers. However, its market capitalization of ₹471.5 Cr remains modest compared to Sun TV Network’s ₹21,089.44 Cr and Nazara’s ₹11,112.1 Cr, indicating a smaller-scale operation with limited market visibility.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
HMVL	10.94	N/A	N/A	471.5
Prime Focus Limited	-78.05	N/A	N/A	22,410.61
Sun TV Network Limited	12.07	N/A	N/A	21,089.44
Nazara Technologies Limited	206.86	N/A	N/A	11,112.1

HMVL’s P/E ratio is significantly lower than Sun TV Network’s 12.07 and Nazara’s 206.86, reflecting market pricing of its current earnings relative to peers.

Risks & Concerns

No specific risks identified in this filing beyond the inherent volatility of the media sector

No mention of debt levels or leverage ratios in the provided data

Market capitalization remains small relative to peers, suggesting limited scale or investor confidence

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	197.47	17.99	0.92
Q2FY25	171.99	13.87	-8.42
Q1FY25	162.18	0.52	-11.25
Q4FY24	188.05	10.74	-11.38

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About Hindustan Media Ventures Limited (HMVL)

Media Entertainment & Publication · Media · Listed on NSE

Market Cap: ₹471.5 Cr P/E: 10.9

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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