News Broadcasting
Eros International to dilute 15-20 %, raise $100 million in float on LSE
MUMBAI: Eros International Plc, the company that owns, creates and globally distributes Bollywood content, plans to dilute 15-20 per cent in its initial public offering.
Expressing an intent to float on the London Stock Exchange (LSE) in June, Eros aims to raise $100 million. The company is in the process of filing the prospectus. Evolution Securities is acting as nominated adviser and broker to Eros.
The proceeds of the issue will be utilised mainly for setting up digital cinema exhibition in India, exploitation of content over new media (such as online, cable, wireless and mobile), and expansion of existing businesses.
“Since inception, Eros has enjoyed phenomenal growth and we have a proven track record of organic expansion. We are now at a point in our history where the market is changing rapidly and the business is of sufficient size, reputation and financial strength to exploit the significant opportunities presented to us. As a listed Company we will have the increased financial strength to help us achieve our objectives. We are proud to be bringing the company to the market,” Eros chairman and CEO Kishore Lulla said.
Eros promoter Kishore Lulla was involved in the launch of B4U channels and was chairman of the company for two years. He still owns a small stake in B4U which he founded along with steel major Laxmi Mittal and Kishore Binani. He was responsible for structuring the B4U-Eros deal to launch the UK’s digital satellite and pay TV channel on the BSkyB platform.
Founded in 1977, Eros is the world’s leading distributor of Hindi films. The company has over the last 14 years acquired and distributed an average of 35 films per annum. It has an extensive film library containing in excess of 1,000 titles. Eros has a worldwide distribution network and more than 110 employees based in India, UK, USA, United Arab Emirates, Australia and Fiji.
In the nine months to 31 December 2005, Eros made a profit before tax, interest and goodwill of $12.6 million on turnover of about $32.2 million. “We predict an annual sales of about $44 million at the low end of expectations,” the company said in a release.
Eros’ first major co-production venture, Waqt – A Race Against Time, was the highest grossing Bollywood film in the UK in 2005. The Company intends to progressively increase its production activities.
Eros has also recently launched www.bondemand.tv, an online Bollywood movie and music download service. The company has entered into an arrangement with Intel Corporation to further develop this initiative using Intel ViiV technology that is intended to allow consumers to receive content via their PC to their TV.
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
