News Broadcasting
Sahara to take FCCB route for raising $50 million
MUMBAI: Sahara One Media and Entertainment Ltd has decided to take the foreign currency convertible bond (FCCB) route to raise around $50 million (Rs 2.2 billion).
“We are in the final stages of documentation for issue of FCCBs. We plan to raise around $50 million,” says a source in Sahara One Media and Entertainment Ltd.
Earlier the shareholders of Sahara had approved the issue of securities in the international market in the form of FCCBs, global depository receipts (GDRs) or other securities through public issue, private placements or preferential allotment. Sahara had also taken an enabling clause to raise up to $50 million.
The funds will be deployed for movie production, launch of a music channel, content acquisition for Hindi movie channel Filmy and general entertainment channel Sahara One.
Sahara has already tied up Rs 1.58 billion by diluting stake to investors. While C Sivasankaran’s Aircel Televentures Ltd. (ATL) has put in Rs 1.2 billion for acquiring 14.98 per cent stake, Bennett, Coleman & Company Ltd (publishers of The Times of India) has invested Rs 378 million for a six per cent equity. Sahara is in the process of issuing a preferential allotment of 322.5 million equity shares to ATL with a face value of Rs 10 each at a price of Rs 372 per share.
Sahara is also in talks to rope in a strategic investor. After divesting stake to ATL, the promoters holding in Sahara stands at 73 per cent. While Bennett, Coleman and Company’s holding is a little less than six per cent, the balance is with the public.
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.
