News Broadcasting
India’s top MSMEs & startups shine at ET NOW Leaders of Tomorrow Awards
MUMBAI: Great ideas deserve great recognition, and ET NOW made sure of that. The IDFC First bank presents ET NOW Leaders of Tomorrow Awards Season 12 took centre stage in New Delhi, celebrating India’s most promising MSMEs and startups. With the theme ‘Powering Entrepreneurs for the Global Stage,’ the event highlighted the visionaries scaling their businesses within India while making waves in the international market.
Former union minister & chairman of the Parliamentary Standing Committee on coal, mines & steel Anurag Singh Thakur stated, “Over the past decade, India has risen from the ‘Fragile Five’ to one of the world’s top five economies, and in the next three years, we are set to become the third-largest economy globally. The government has actively supported MSMEs through financial reforms, ease of doing business initiatives, and credit access programs like Mudra Loans and Emergency Credit Line Guarantee Scheme. Today, India is home to over 1.6 lakh start-ups and 117 unicorns, proving that our youth are building enterprises that compete on the global stage. Our vision for Viksit Bharat 2047 is powered by MSMEs that are integrating into global supply chains, focusing on quality and innovation.”
NSE MD & CEO Ashishkumar Chauhan stated, “India’s thriving capital market is an anomaly, as traditionally, only wealthy nations develop strong investment ecosystems. However, with 11 crore registered investors and 21 crore accounts, India is now uniquely positioned to fund entrepreneurial dreams. MSMEs must leverage capital markets to boost credibility, secure funding, and scale their businesses.”
His speech didn’t shy away from geopolitical shifts shaping India’s future, adding, “The world is moving from a unipolar system (dominated by the U.S.) to a multipolar system, where India is emerging as a key player alongside major economies. The decline of global regulatory frameworks, such as the WTO (World Trade Organization), suggests that large economies are now prioritizing bilateral agreements over multilateral trade rules.”
The awards night honoured outstanding enterprises across 14 categories, including 3 IDFC First Bank Rising Star Awards and 4 Editorial Awards. Winners were meticulously selected through a rigorous pan-India screening and expert jury evaluation, ensuring only the best took home the accolades.
Beyond the awards, the event saw engaging panel discussions featuring industry heavyweights who shared their expertise and foresight on the future of entrepreneurship. Speakers included Chinmay Dhoble (IDFC FIRST Bank), Akis Evangelidis (Nothing), Aman Gupta (boAt Lifestyle), Dr. A Velumani (Thyrocare), Anand Mane (Joul), Bert Mueller (California Burrito), Spencer Schneier (Commenda), Radha Kirthivasan (BSE), Vivek Gambhir (Lightspeed India), Padmaja Ruparel (IAN Group), and Anisha Singh (She Capital).
With India’s MSMEs and startups gaining unprecedented momentum, the ET NOW Leaders of Tomorrow Awards proved that the future of business isn’t just bright—it’s unstoppable.
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.
