Cable TV
NxtDigital board approves merger with Hinduja Leyland Finance
Mumbai: At its meeting on Wednesday, the board of directors of NxtDigital Ltd (NDL) has accorded an in-principle approval for merger of Hinduja Leyland Finance Ltd (HLFL), a non-banking finance company into NDL, subject to all statutory or regulatory approvals and approval of the shareholders.
The proposed acquisition will result in the merged entity having assets aggregating above Rs 29,000 crore and the shareholders receiving shares pursuant to the share swap valuation. The company will appoint independent valuers to carry out the valuation exercise and submit the report including share exchange ratio.
A subsidiary of Ashok Leyland, HLFL is one of India’s leading finance NBFCs with an AUM of over Rs 29,000 crore and a pan-India presence in 1,550 locations across 23 states and two union territories. Through a vast network of branches, the company finances a wide range of commercial and personal vehicles, from medium and heavy commercial vehicles, light commercial vehicles and small commercial vehicles to cars, multi-utility vehicles, three wheelers, and two wheelers, as well as various kinds of used vehicles.
Post the decision to transfer the digital, media and communications business undertaking to Hinduja Global Solutions Ltd, (which is subject to necessary regulatory and shareholder approvals), NDL has been evaluating various proposals in line with its objective of pursuing high growth oriented business opportunities that could bring in incremental value. In line with this commitment to create value for its shareholders, this merger will enable the shareholders of NDL to participate in and be a part of the aggressive growth plans of HLFL.
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.
