Cable TV
NAGRA powers Hinduja’s NXT Digital HITS platform in India
MUMBAI: Switzerland based Kudelski Group’s digital TV division NAGRA has powered the Hinduja Group’s new headend-in-the-sky (HITS) platform – NXT Digital in India.
NAGRA’s anyCAST, OpenTV solutions and user interface are enabling NXT Digital. This makes it NAGRA’s first HITS platform in India, which is one of the fastest growing markets in pay-TV today, as the country continues the government-mandated digitisation process. According to a recent report by Media Partners Asia, the Indian pay-TV market is expected to grow by 11 per cent annually on average by 2018, with total pay-TV subscribers expected to grow from 65 million in 2013 to 165 million by 2018 and 180 million by 2023.
NAGRA’s anyCAST content protection and OpenTV middleware solutions are enabling the HITS platform, which will provide backend operations to local and multi-system cable operators in India. NXT Digital offers a variety of packages and services including 500-plus MPEG 4-encrypted services featuring SD and HD channels along with value-added services like PVR and educational content.
“Our new HITS platform gives regional cable operators access to an infrastructure that helps them deliver high-quality video services to a new generation of viewers. NAGRA has been a key partner in the process, providing the expertise and support expected of a pay-TV leader, as well as solutions that provide the right level of content protection, scale seamlessly and allow for flexible business models that are critical to our operators’ success as they kick off their new services,” said Hinduja Group subsidiary Grant Investrade managing director Tony D’Silva.
“It is an honor to work with Grant Investrade and be a part of the digital TV transformation in India that is making access to digital TV services a reality for millions of people. This new platform makes it easy for local and regional cable operators to deploy new services without having to worry about the operational complexities that can come with installing their own system. And by leveraging NAGRA’s deployed, market-leading solutions, they are ensuring a high quality user experience that is not only highly secure but offers pay-as-you-grow models adapted to their strategy,” said NAGRA sales SVP Asia-Pacific Jean-Luc Jezouin.
NAGRA’s anyCAST Security Services Platform, OpenTV middleware and user interface are ready-to-deploy solutions that enable of range of entry-level and advanced DTV services. They allow operators to leverage scalable, pay-as-you-grow business models with multiple set-top boxes and chipsets, and include an intuitive user interface adapted to India’s diverse population and languages.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
