News Broadcasting
Sahara in Rs 1.5 billion expansion plan; to bid for Abu Dhabi series
MUMBAI: Sahara One Media and Entertainment Ltd is planning to raise Rs 1.5 billion to meet its expansion plans. The company is also likely to bid for the cricket telecast rights for the two-match India-Pakistan Friendship Series to be held in Abu Dhabi.
The board of directors will meet tomorrow (5 April) to decide on these issues. “Sahara One is looking at getting an enabling clause to raise Rs 1.5 billion. Among other things on the agenda is the approval to bid for the cricket rights,” said a source close to the company.
Sahara’s media and entertainment business has been valued by Ernst & Young at Rs 7 billion, sources said. The company had appointed the consulting firm to conduct the valuation exercise.
Sahara One Media and Entertainment is in talks to rope in investors. Recently, Bennett, Coleman & Company Ltd (publishers of Times of India and the Group is 74 per cent stakeholder in Times Now news channel) picked up six per cent stake for Rs 378 million in the company (Indiantelevision.com was the first to report that Bennett, Coleman would buy stake in Sahara One).
NRI businessman C Sivasankaran is in talks to put in around Rs 1.2 billion for a minority stake into Sahara One. “He is sitting on the fence,” said the source. Having sold Aircel for $1.08 billion to Malaysia’s Maxis Communications, he is flush with funds. His first media investment was in ETC Networks where he held 40 per cent stake. He went on diluting equity and exited from the company which was later acquired by Zee Telefilms.
Sahara is launching a music channel, adding up to a bouquet of general entertainment and movie channels. Sahara Group also owns a string of news channels.
Sahara has already experimented with cricket telecast of the India-England series on its Hindi general entertainment channel. Using the event, Sahara One has encrypted and expanded the reach of the channel.
For the Indo-Pak Friendship Series, the contract for ground rights has been bagged by PDM International, a Percept Holdings company, from the Board of Control for Cricket in India (BCCI) with a bid of $ 3.61 million. Incidentally, Percept has a management contract to handle Sahara’s entertainment business.
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.
