News Broadcasting
Pyramid Saimira to raise Rs 844 million via IPO, sets price band at Rs 88-100
MUMBAI: Chennai-based cinema chain Pyramid Saimira plans to raise Rs 844.4 million through a public float to part-finance its expansion plans. This includes refurbishing theatres after taking them on long term lease and installing digital systems of delivery.
The issue, which opens on 11 December and closes on 18 December, will have a price band of Rs 88 to Rs 100 per equity share of Rs 10 each. The initial public offering (IPO) will be entirely through the book building process.The total fund requirement is estimated at Rs 1.11 billion. The funding will be met through pre-issue capital and internal accruals of Rs 267.5 million, in addition to the IPO.
For refurbishing the theatres, the company plans to invest Rs 368 million while digitalisation process will absorb Rs 241.4 million. The other big investment of Rs 203.4 million will be towards recoverable security deposit with theatres and multiplexes.
The company plans to tie up with 120 theatres in A locations and 235 threatres in B and C locations by March 2007. The average length of the lease varies from five to 15 years with the option to extend it.
Pyramid Saimira has tied up with Delta Electronics, Taiwan, for digital projectors, Real Image Media for video servers and Tatanet for the utilisation of their broadband VSAT infrastructure. Arasor Inc, USA, will provide for next generation laser projection technology, Valuable Media for end-to-end digital cinema solution on pay-per-use basis in 1000 Pyramid theatrical locations and Prasad Labs for digital conversion.
With focus on tier II cities, Pyramid plans to have a pan India presence. “We are currently present in the southern states. But we are soon spreading out to Punjab, Haryana and Rajasthan,” says Pyramid Saimira Theatre managing director PS Saminathan. The company has tied up with Spirit Global Constructions which shall construct 60 propoerties in Punjab while Swatantra Land & Finance shall offer 22 properties at Haryana and 20 properties at Rajasthan.
“We plan to have over 2000 screens in 1550 locations across India with 58.75 million sq. ft. under operational management by 2010,” says Saminathan. The company currently has 148 screens operational with over 1.8 million sq. ft.
The company is close to signing a deal with Chinese government to run 7,000 theatres on the mainland. Bennett Coleman and Company Ltd (BCCL), publishers of The Times of India and The Economic Times, has bought a small stake in the company.
Among the promoters of Pyramid Saimira include noted Tamil film producer V Natarajan and Saminathan who owned a cable TV network in parts of Tamil Nadu.
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.
