Financials
B. A. G. Films reports improved top and bottom lines
BENGALURU: The Anurradha Prasad led B. A. G. Films and Media Limited (BAG Films) reported improved revenue and profit after tax (PAT) for the year ended 31 March 2017 (FY-17, current year or fiscal) as compared to fiscal 2016.
Two of the company’s four segments – Television broadcasting and FM Radio reported increase in operating revenues and operating profits in the current year as compared to the previous year. Its Audio Visual production segment reported lower operating revenue and operating profits, while operating revenue and operating losses of its Leasing segment declined in fiscal 2017 as compared to fiscal 2016.
The company’s income from operations or operating revenue increased 16.6 percent to Rs1,366.84 million in FY-17 to Rs 1,17241 million in the previous year. BAG Films reported PAT of Rs 8.43 million in FY-17 as compared to a loss of Rs 28.94 million in the previous year. Simple EBIDTA excluding other income increased 12.9 percent to Rs 319.34 million (23.4 percent of Operating Revnue) in FY-17 from Rs 282.76 million (24.1 percent of Operating Revenue).
The company’s Total Expenses increased 13.1 percent to Rs 1,177.42 million (86.1 percent of Operating Revenue) in FY-17 from Rs 1,041.15 million (88.8 percent of Operating Revenue). Employee costs increased 4.3 percent in fiscal 2017 to Rs 209.90 million (15.3 percent of Operating Revenue) from Rs 200.35 million (17.1 percent of Operating Revenue) in the previous year. Other expenses increased 14.5 percent in FY-17 to Rs 814.64 million (59.6 percent of Operating Revenue) from Rs 711.52 million (60.7 percent of Operating Revenue) in FY-16. Finance costs increased 7.5 percent to Rs 163.5 million (12 percent of Operating Revenue) in the current year from Rs 152.16 million (13 percent of Operating Revenue) in the previous year.
Segment Numbers
BAG Films Television segment has three channels News 24, E24 and Darshan 24, while its Radio segment, Radio Dhamaal 24 operates 10 FM radio stations in the country.
BAG Films biggest segment is its Television Broadcasting (TV) segment. TV segment’s operating revenue increased 22.9 percent in FY-17 to Rs1,126.05 million from Rs 916.56 million in FY-16. TV segment’s operating profit increased 33.2 percent in FY-17 to Rs 315.34 million from Rs 236.7 million in the previous fiscal.
Audio Visual Production segment revenue for fiscal 2017 declined 20.3 percent to Rs 137.54 million from Rs 172.67 million in the previous fiscal. The segment’s operating revenue declined 42 percent to Rs 52.16 million from Rs 89.88 million in the previous year.
FM Radio segment’s operating revenue increased 25.5 percent to Rs 100.75 million from Rs 80.26 million in the previous year. The segment’s operating profit more than doubled (increased by 2.5 times) to Rs 33.93 million from Rs 13.51 million.
BAG Films Leasing segment revenue declined 14.1 percent in FY-17 to Rs 2.50 million from Rs 2.92 million in FY-16. Leasing segment operating loss reduced in FY-17 to Rs 31.97 million from a loss of Rs 38.38 million in the previous year.
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MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
