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GS Home Shopping Leads Funding Round in HomeShop18 Company Raises USD 14 Million of Growth Capital
NEW DELHI: HomeShop18, India’s leading virtual commerce business, announced that it has closed a USD14 million follow-on funding round with GS Home Shopping (GS), funds managed by OCP Asia Ltd. (OCP Asia) & Network18. GS will invest USD 11 Million; OCP Asia & Network18 will invest the remaining amount. The transaction values HomeShop18 at USD 360 Million.
Network18 will remain the majority shareholder (51%) in HomeShop18. SAIF Partners, GS Home Shopping and OCP Asia are the other existing investors at HomeShop18. GS is the third largest Home Shopping company in the world and the market leader in Korea.
HomeShop18 launched India’s first 24 hour Home Shopping TV channel in 2008. Today, it provides an integrated virtual shopping experience on Internet, Television and Mobile through HomeShop18.com and the 24×7 TV channel. Since inception, HomeShop18 has acquired a customer base of 7.5 Million. It has built an impressive portfolio of over 12 million SKUs across multiple product categories and a logistical reach of over 3,000 locations across India. Homeshop18 is one of India’s fastest growing virtual commerce companies with revenues having more than doubled over the last year.
Announcing the transaction, Sundeep Malhotra, CEO, HomeShop18 said, “This round marks an inflexion point for the business as the company rapidly moves towards profitability while continuing to scale up revenues. It is gratifying to see the vote of confidence in our business model from GS and the continued support of OCP and our Promoter, Network18.”
Huh Tae Soo, CEO and President, GS Home Shopping said, “We are delighted to invest further in HomeShop18, India’s leading virtual commerce company. We believe that HomeShop18 is well positioned to capitalize on the Indian consumer opportunity and we look forward to supporting the company with our global experience. “
Raghav Bahl, Managing Director, Network18 said that, “We are pleased to see that the business continues to grow strongly and that profitability is firmly on the horizon. A significant amount of value has already been built in the business and we are very excited about future prospects as the business continues to scale rapidly. GS has been a great partner in generously sharing their unique insights and expertise to help grow the business. We look forward to their continued support.”
BMR Advisors acted as transaction advisors to the company.
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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.
