D. B. Corp (DBCORP) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 consolidated advertising revenue grew 6% YoY to INR 4,067 million, with stable circulation revenue at INR 1,162 million.

• Q4 total revenue rose 4% YoY to INR 5,896 million; EBITDA increased 15.6% to INR 1,176 million, and profit after tax rose 18.8% to INR 622 million.

• FY26 consolidated revenue was INR 24,408 million, up 1% YoY, with EBITDA at INR 5,736 million and PAT at INR 3,320 million.

• Print advertising revenue grew 6.3% YoY (excluding election impact), and digital MAUs reached 20 million as of March 2026.

• Print, digital, and radio segments contributed to growth, with radio network expanding to 37 cities and all new stations EBITDA positive within three months.

Financial highlights

• Q4 advertising revenue: INR 4,067 million (+6% YoY); circulation revenue: INR 1,162 million (stable).

• Q4 total revenue: INR 5,896 million (+4% YoY); EBITDA: INR 1,176 million (+15.6% YoY); PAT: INR 622 million (+18.8% YoY).

• FY26 total revenue: INR 24,408 million (up 1% YoY); EBITDA: INR 5,736 million (margin 28% adjusted for election impact); PAT: INR 3,320 million.

• Radio segment FY26 revenue: INR 1,592 million; EBITDA: INR 467 million.

• Circulation revenue for FY26: INR 4,751 million, nearly flat YoY.

Outlook and guidance

• Management expects strong single-digit advertising growth for FY27, with EBITDA margin maintenance at 24-26%.

• Newsprint prices expected to rise 6-8% in Q1 FY27 due to supply and cost pressures, but increases are viewed as temporary.

• Digital business expected to grow MAUs, especially with expansion in Uttar Pradesh.