Cable TV
Sri Adhikari Brothers plans to raise up to $15 million
MUMBAI: Sri Adhikari Brothers Television Network Ltd. (SABTNL) is planning to raise up to $15 million. The board has been authorised to offer, issue and allot, in a single or more tranches, through a domestic public issue or a private placement, equity shares of nominal value of Rs 2 each or equity shares underlying securities in the form of GDRs (global depository receipts), ADRs (American depository receipts), or FCCBs (foreign currency convertible bonds).
“We have plans to set up a studio in Mumbai. We will be finalising that within a month,” says SABTNL vice-chairman and managing director Markand Adhikari.
The board has given authority to borrow the aggregate paid up capital and reserve of the company from time to time, not exceeding Rs 1 billion.
SABTN Ltd has also approved the increase of its authorised capital from Rs 150 million to Rs 200 million through the creation of 25 million equity shares of Rs 2 each.
The board has approved the declaration of dividend at the rate of six per cent (Re 0.12 per share) on equity shares of Rs 2 each.
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.
