Entertainment Network (India) Ltd

AGM Details

• 27th AGM to be held Friday, 25 September 2026 at 3:00 p.m. IST via VC/OAVM.
• Record date for dividend eligibility fixed at 18 September 2026.

Voting & Attendance

• Members on the register as on 18 September 2026 are eligible to vote.
• Votes to be cast via remote e-voting; Insta Poll at AGM.
• Attendance via VC/OAVM counts toward quorum.

Dividend & Compliance

• Dividend, if declared, will be paid electronically; no physical warrants issued.
• PAN and bank details required for dividend payments.
• Tax deduction at source applies to dividend payments.

Financial Performance

• Q1 FY27 EBITDA rose 42% to INR 8.8 crores.
• Non-digital EBITDA grew 7.4% and PAT rose 85% in the quarter.
• Digital revenue was INR 31.1 crores, up 43.3% YoY, 30.2% of total revenue.
• Gaana revenue rose 19% YoY to INR 21.4 crores; losses at INR 8.3 crores.
• International operations contributed INR 3 crores in revenue.
• Gaana pricing increased to INR 799; plan to reach breakeven.
• Inventory utilization down 8%; price improved 4%.

Operating Update by Segment

• Radio FCT advertising revenues were INR 62.2 crores.
• Non-FCT segment revenue stood at INR 17.5 crores.
• Gaana profitability: losses reduced to INR 8.3 crores; path to breakeven.
• Market share on volume about 27%–28%.
• Radio margins 35%–40%; Events EBITDA margins 25%–30%.
• Pricing headroom on annual Gaana pack; monthly pack ~10% lower than peers.
• AI and new broadcasting tools to reduce broadcasting costs.

Balance Sheet and Liquidity

• Cash balance remained robust at INR 390 crores as of 30 June 2026.

Outlook and Strategy

• West Asia crisis and macro headwinds kept ad demand soft across media.
• Traditional media (Radio/TV/Print) expected to remain subdued this year.
• Events business anticipated to grow in H2 FY27; some events moved to Q2.
• Cost rationalization and AI-led broadcasting cost reductions expected; no quantified savings provided.
• Management did not provide formal quarterly guidance.

Q&A Highlights

• Board discussion ongoing on buyback; no decision yet.
• Gaana breakeven objective reiterated; pricing strategy focused on profitability.
• Cadence of subscriber pricing: annual pack headroom; monthly pack pricing ~10% below peers.
• CAC can rise; marketing spend may increase; emphasis on profitable subscriber growth.

Dividend record date

• Record date fixed Friday, 18 September 2026 for dividend eligibility.

Audio recording release

• Audio recording of Q1FY27 investor call conducted on 6 August 2026.
• Links to the recording and investor materials hosted on ENIL site.
• No financial data disclosed in this update.

Key financials

• Consolidated Q1FY27 revenue ₹113 crore; domestic ₹111 crore.
• EBITDA ₹8.7 crore, up 42% YoY.
• Non-digital EBITDA growth 7.4%; PAT growth 85%.

Digital performance

• Digital revenue ₹31.1 crore, up 43.3% YoY, 30.2% of total revenue.
• Digital investment declined to ₹8.3 crore from ₹9.8 crore.
• Growth driven by Gaana user traction and engagement.

Liquidity & international

• International revenue ₹3 crore in Q1FY27.
• Cash balance ₹389.7 crore as of 30 June 2026.

Management commentary & outlook

• CEO cites challenging environment due to geopolitical uncertainty and weak ad sentiment.
• Cost-transformation programme strengthened profitability; digital momentum continues.
• Company aims to diversify revenue for sustainable long-term growth.

Correction note

• Digital revenue typo corrected to ₹31.1 crore from ₹21.1 crore.

Business Overview

• ENIL operates India's multi-platform entertainment business across radio, digital, and events.
• Core brands are Radio Mirchi and Gaana, with hyperlocal integrated solutions.
• Digital revenue grew 43.3% YoY; digital now accounts for about 30.2%.
• International revenue contributed ₹30.5 Mn in Q1 FY27.
• Consolidated cash and cash equivalents stood at ₹4,090 Cr as of 30-Jun-2026.
• Standalone revenue declined 1.9% YoY to ₹1,107.6 Mn; EBITDA rose 42% to ₹87.9 Mn.
• Growth strategy emphasizes digital monetization and integrated radio, digital, and ground solutions.

Key Operational Highlights

• Gaana enhancements include AI personalization and Web 2.0 features to boost engagement.
• Referral program offers ₹200 cashback to both referrer and referred.
• Offer engine for Premium Plans enables instant discounts and targeted conversion.
• Standalone opex declined 4.5% YoY to ₹1,019.7 Mn.
• Digital revenue expansion and international campaigns continue to broaden footprint.
• International campaigns include Bahrain and other markets; Mirchi activities expanding presence.
• Consolidated revenue declined 2.8% YoY to ₹1,136.9 Mn; EBITDA up 19.1%.
• International revenue ₹30.5 Mn; steady contribution from international business.

Financial Performance

• Standalone Total Income ₹1,107.6 Mn; EBITDA ₹87.9 Mn, up 42% YoY.
• Standalone PAT ₹-45.0 Mn; Total Comprehensive Income ₹-38.7 Mn.
• Consolidated Total Income ₹1,136.9 Mn; EBITDA ₹90.2 Mn, up 19.1% YoY.
• Consolidated PAT ₹-60.1 Mn; Total Comprehensive Income ₹-54.9 Mn.
• Standalone EBIT ₹-112.2 Mn; PBT ₹-60.1 Mn.
• Cash and cash equivalents ₹4,090 Cr as of 30-Jun-2026.
• Standalone digital revenue share 30.2% of standalone revenue.
• International revenue ₹30.5 Mn; cross-border contribution.

Capital Structure & Liquidity

• Cash reserves ₹4,090 Cr indicate strong liquidity.
• No debt or capital-raising actions disclosed in this update.
• No capex or financing guidance provided.

Strategic Priorities & Outlook

• Grow digital monetization via Gaana and AI enhancements.
• Leverage integrated Radio, Digital, and Ground events to expand margins.
• Continue international expansion through Mirchi campaigns and partnerships.
• Focus on cost controls and opex optimization.
• No numeric forward guidance provided in this update.

Governance & Leadership

• Experienced leadership team with deep FMCG, telecom, and media background.
• No governance changes disclosed in this update.

Meeting Details

• Date: 5 August 2026.
• Time: Not disclosed.
• Location: Not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter ended 30 June 2026.
• Consider other business matters as may be placed before the meeting.

Other Notes

• Trading window is closed and will reopen after 48 hours post results availability.

Asset transfer approval

• MIB approved transfer of four FM assets to ENIL's wholly owned subsidiary Alternate Brand Solutions (India) Limited.
• Assets transferred include Kanpur 91.9 FM, Lucknow 107.2 FM, Nagpur 91.9 FM, Hyderabad 104 FM.
• Letter confirming approval was dated 17 July 2026.