Entertainment Network (India) (ENIL) Q4 25/26 earnings summary

Executive summary

• Consolidated revenues for FY 2026 reached INR 565 crore, up 3.9% year-over-year, with domestic revenues at INR 548 crore, driven by digital business momentum.

• EBITDA (excluding digital) was INR 76 crore (18% margin), and PAT (excluding digital) was INR 22 crore.

• The company maintained a strong balance sheet with a consolidated cash balance of INR 424 crore as of March 31, 2026.

• Board recommended a dividend of INR 2 per share for FY 2026.

Financial highlights

• Digital business revenues for FY 2026 were INR 112.4 crore, up 84% year-over-year.

• Digital business for Q4 was INR 29 crore, growing 61% year-over-year.

• Non-FCT segment revenues for FY 2026 were INR 148 crore; Q4 non-FCT revenue was INR 38 crore.

• FCT revenue for Q4 was INR 74 crore.

• Digital spending reduced by 23% in FY 2026, improving digital economics.

Outlook and guidance

• Digital business expected to remain a key growth driver, with continued focus on operational efficiency and cost discipline.

• Gaana subscription business projected to maintain 15% CAGR in paid subscribers over the next 2-3 years, with breakeven targeted in FY 2027.

• Management remains confident in the long-term growth potential of experiential and digital segments.