BALAJITELE
Balaji Telefilms share price & financials
- Price
- ₹89.66
- Market cap
- ₹1.1k Cr
- Calls analysed
- 4
Balaji Telefilms Q4 FY26
What went well
- TV segment EBITDA turned profitable at INR 4 crores in Q4 FY26, indicating a turnaround.
- Strong OTT partnership with Netflix, including 2 new web series under development, reinforcing position in premium digital content ecosystem.
- Order book for OTT/Digital business of approximately INR 350 crores, with INR 135 crores expected in FY27, providing strong revenue visibility.
What to watch
- Q4 FY26 revenue from operations was INR 47 crores, with an EBITDA loss of INR 17 crores and a loss after tax of INR 14 crores.
- FY26 revenue from operations significantly declined to INR 210 crores from INR 453 crores in FY25, with an EBITDA loss of INR 65.8 crores and a loss after tax of INR 49.6 crores.
What Balaji Telefilms Limited does
Balaji Telefilms produces and distributes television serials and feature films, earning revenue when broadcasters (e.g. JioStar) commission its TV shows and when its movies are sold to theatrical, satellite, digital and music-rights buyers. It also runs its own subscription/ad-funded OTT platform ALTT, alongside newer digital products Kutingg (short-form video), AstroGuide (an astrology app) and Balaji Studio (a production-for-hire platform for OTT and micro-drama content). A talent-management vertical, Hoonur, manages TV/digital artists, and the company licenses its content library to global platforms including Netflix and international FAST (free ad-supported streaming TV) channels.
Segments
- Commissioned content (Television + Digital B2B)
- Motion Pictures
- Digital (B2C)
- TV shows produced (cumulative, incl. DD & regional)
- 200+
- Movies produced (cumulative)
- 50+
- Content library on ALTT
- 172+ titles
- YouTube subscribers
- 11mn+
- TV production output (FY26)
- 79 hours across 3 running shows
- Movies under production
- 2 (as of Q4 FY26)
Guidance record · Q4 FY26
what the last two calls moved 14 tracked 0 delivered 3 missed 11 open- ALT App Profitability missed said Q4 FY25 Promised: Making it profitable when we close this year. Q4 FY26: Management confirmed a cash loss of around INR 6 crores for total digital initiatives in FY26, officially missing the profitability target. A new target for the overall digital business to be cash positive in FY27 has been set.
- Annual revenue from Digital B2B order book revised up said Q4 FY25 Promised: Endeavor is to get at least 100 quarter [crores] revenue in each year at least. Q4 FY26: For FY27, management expects over INR 135 crores to be realized from the OTT order book, and projects total B2B (TV+OTT) revenue of INR 330 crores. This exceeds the original target of INR 100 crores.
- Number of movies produced/released per year on track said Q4 FY25 Promised: We intend to do up to six movies in a year. Q4 FY26: The target of 'minimum 4 releases' for FY27 remains active. Management has pivoted to a revenue target, projecting INR 400 crores from Motion Pictures in FY27, reinforcing the strategic focus on this segment. Progress is on track for the FY27 goal.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 228.8%, net profit up 420.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 139 | 93 | 66 | 73 | 49 −65% | 42 −55% | 48 −27% | 240 +229% |
| EBITDA | 23 | -10 | -19 | -9 | -7 −130% | -30 −200% | -16 +16% | 20 +322% |
| Net profit | 18 | -11 | 93 | -5 | -4 −122% | -23 −109% | -13 −114% | 16 +420% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −16.1% 1Y
1Y: ₹108.06 on 10 Sept 2025 → ₹90.63. High ₹136.93 (23 Sept 2025), low ₹71.11 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −1.7%
- 29 May
- Q2 FY26
- −3.0%
- 14 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 29.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to -29.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹593 Cr | ₹585 Cr | ₹447 Cr | ₹212 Cr |
| Operating profit | ₹-19 Cr | ₹63 Cr | ₹1 Cr | ₹-62 Cr |
| Operating margin | -3.2% | 10.8% | 0.2% | -29.2% |
| Interest | ₹8 Cr | ₹10 Cr | ₹3 Cr | ₹2 Cr |
| Depreciation | ₹11 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr |
| Net profit | ₹-38 Cr | ₹34 Cr | ₹101 Cr | ₹-45 Cr |
| Net margin | -6.4% | 5.8% | 22.6% | -21.2% |
| Cash from operations | ₹114 Cr | ₹69 Cr | ₹53 Cr | ₹-71 Cr |
| Free cash flow | ₹120 Cr | ₹61 Cr | ₹53 Cr | ₹-75 Cr |
| ROCE | 4.0% | 5.0% | 0.0% | -9.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹24 Cr | ₹24 Cr |
| Reserves | ₹1.1k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹420 Cr | ₹626 Cr | ₹617 Cr |
| Borrowings | ₹3 Cr | ₹47 Cr | ₹104 Cr | ₹36 Cr | ₹25 Cr | ₹19 Cr |
| Other liabilities | ₹106 Cr | ₹96 Cr | ₹128 Cr | ₹126 Cr | ₹155 Cr | ₹210 Cr |
| Total liabilities | ₹1.2k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹602 Cr | ₹830 Cr | ₹870 Cr |
| Fixed assets | ₹24 Cr | ₹17 Cr | ₹17 Cr | ₹17 Cr | ₹20 Cr | ₹16 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹658 Cr | ₹650 Cr | ₹819 Cr | ₹19 Cr | ₹151 Cr | ₹120 Cr |
| Other assets | ₹510 Cr | ₹567 Cr | ₹524 Cr | ₹566 Cr | ₹659 Cr | ₹734 Cr |
| Total assets | ₹1.2k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹602 Cr | ₹830 Cr | ₹870 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +1.32 pp while FIIs trimmed −0.71 pp. The shareholder count shrank 10% to 29,571.
- Promoters
- 31.3%
- FIIs
- 24.5%
- DIIs
- 0.0%
- Government
- 0.1%
- Public
- 44.1%
Since Jun 2025
- Public +1.32 pp
- FIIs −0.71 pp
- Promoters −0.60 pp
How it drifted, 12 quarters
Over this window FIIs went from 18.6% to 24.5% — +6.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 34.3%, FIIs 18.6%, Public 47.1%.Dec '23: Promoters 34.3%, FIIs 18.6%, DIIs 0.3%, Public 46.8%.Mar '24: Promoters 34.2%, FIIs 18.9%, Public 46.9%.Jun '24: Promoters 34.2%, FIIs 18.5%, Public 47.3%.Sep '24: Promoters 34.2%, FIIs 18.5%, Public 47.3%.Dec '24: Promoters 34.1%, FIIs 18.6%, Government 0.1%, Public 47.1%.Mar '25: Promoters 31.9%, FIIs 25.1%, Government 0.1%, Public 42.9%.Jun '25: Promoters 31.9%, FIIs 25.3%, Government 0.1%, Public 42.8%.Sep '25: Promoters 31.9%, FIIs 25.1%, Government 0.1%, Public 42.9%.Dec '25: Promoters 31.8%, FIIs 24.9%, Government 0.1%, Public 43.2%.Mar '26: Promoters 31.3%, FIIs 24.6%, Government 0.1%, Public 44.0%.Jun '26: Promoters 31.3%, FIIs 24.5%, DIIs 0.0%, Government 0.1%, Public 44.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Balaji Telefilms Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Reliance Industries Limited | 19.03% | unchanged |
| Ekta Ravi Kapoor | 17.92% | unchanged |
| Shobha Ravi Kapoor | 9.03% | unchanged |
| Gothic Corporation Endowment | 6.56% | unchanged |
| Vanderbilt University - Atyant Capital Management Endowment | 6.07% | unchanged |
| Atyant Capital India Fund - I FPI fund | 5.66% | unchanged |
| Sanjiv Dhireshbhai Shah | 4.31% | unchanged |
| Jeetendra Alias Ravi Amarnath Kapoor | 2.67% | unchanged |
| The Duke Endowment Endowment | 2.39% | unchanged |
| Gothic Hsp Corporation Endowment | 2.37% | unchanged |
| Tusshar Ravi Kapoor | 1.67% | unchanged |
| Reliance Strategic Business Ventures Limited | 1.64% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse Balaji Telefilms Limited
Guides on how to read this kind of business and the numbers that matter.