News Broadcasting
Pyramid Saimira board clears plans to raise $100 million via FCCB
MUMBAI: Pyramid Saimira Theatre’s (PSTL) board has approved plans to raise $100 million through FCCB. It has also given the nod to float special purpose vehicles (SPV) along with developers of realty companies for setting up 100 malls with multiplexes in South India. A further 100 malls with multiplexes would be set up in the rest of India.
PSTL will invest up to 50 per cent shareholding in the respective SPVs that are to be formed. Nowhere in these JVs will Pyramid’s holding be below 26 per cent.
The SPV will create approximately 60 million square feet with an investment of Rs 20 billion spread over four years. The board also discussed and approved the increase in FII (foreign institutional investment) limit to 40 per cent of the paid up capital of the company.
The agreement signed regarding the formation of a Malaysian joint venture company, Pyramid Saimira Theatre Chain (Malysia) Sdn. Bhd, has been cleared. The Board also approved RM 100 million investment by PSTL into that JV company.
The Malaysian JV plans to construct 100 new entertainment centres/malls, create a real estate investment trust to acquire the above said assets and also make Pyramid Saimira Theatre Chain (Malaysia) Sdn.Bhd as an asset management company to manage assets created, which is approximately of the value of $ 1 billion. The board deliberated and approved Malaysian JV Company’s plan to acquire an existing theatre chain company and an existing content distribution company in Malaysia for a faster ramp up of operations.
The board also discussed and approved up to $ 25 million investment into a content fund as a sponsorer. PSTL can also incur consequent expenditure in raising $ 150 million content fund in India and abroad.
PSTL proposes to create a content distribution and theatre chain in London and North American market. The board authorized managing director PS Saminathan for negotiation and decision with the existing content distributors in London and North American market.
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.
