Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 41.0 | +8.2% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 15.0 | +29.5 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 6.7 | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | ||
| Free cash flow margin | +2.2 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Guidance
4 of 6 judged targets kept · 1 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EBITDA Margin | A 'remarkable difference' in margins in the next two quarters. | Q1 FY26 | Promise was achieved in Q3 FY26 and is now closed. | Achieved |
| Digital Business Growth | 15% to 20% growth going forward. | Q1 FY26 | Management stated digital revenue is 4% of total revenue, but did not provide a growth figure, effectively ghosting the original 15-20% growth promise. | Ghosted |
| EBITDA Margin | 20% overall margin profile in the next 3-5 years. | Q1 FY26 | EBITDA margin for Q1 FY27 was 20.0%, hitting the long-term target level for the quarter. This is a significant positive development, keeping the promise firmly on track towards being sustained. | On Track |
2 of Music Broadcast Limited's 7 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 4 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹8.24 on 24 Oct 2025 → ₹5.38. High ₹8.35 (29 Oct 2025), low ₹4.62 (27 Mar 2026).
Overview
close before → close after
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.
Guidance
4 of 6 judged targets kept · 1 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EBITDA Margin | A 'remarkable difference' in margins in the next two quarters. | Q1 FY26 | Promise was achieved in Q3 FY26 and is now closed. | Achieved |
| Digital Business Growth | 15% to 20% growth going forward. | Q1 FY26 | Management stated digital revenue is 4% of total revenue, but did not provide a growth figure, effectively ghosting the original 15-20% growth promise. | Ghosted |
| EBITDA Margin | 20% overall margin profile in the next 3-5 years. | Q1 FY26 | EBITDA margin for Q1 FY27 was 20.0%, hitting the long-term target level for the quarter. This is a significant positive development, keeping the promise firmly on track towards being sustained. | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 7 tracked commitments, with each call’s wording and source.
Call summaries
Music Broadcast Limited Q1 FY27
Music Broadcast Limited reported a positive start to FY27 with sequential revenue growth and significant profitability improvement. Revenue grew 9% QoQ to INR44.5 crores, driven by core radio and creative business rebound. Operating EBITDA surged to INR8.9 crores, expanding margins to 20%, and PAT reached INR9.2 crores. However, revenue declined 10% YoY, and Q2 is anticipated to be softer.
Read the full callMusic Broadcast Q4 FY26
Music Broadcast navigated a challenging Q4 FY26 with significant improvements in profitability driven by aggressive cost optimization and operational efficiencies, despite a substantial 24.44% YoY decline in revenue. The company expanded its full-year EBITDA margin to 18% and demonstrated strong client acquisition and market share growth, signaling competitive resilience amidst a subdued advertising market. Focus on alternative revenue streams and AI integration also progressed.
Read the full callMusic Broadcast Q3 FY26
Music Broadcast Limited delivered a strong sequential performance in Q3 FY26, with revenue growing 23% QoQ to INR46.4 crores and Operating EBITDA soaring to INR15.9 crores, leading to a 34% EBITDA margin. This turnaround was driven by strategic cost rationalization, which is expected to yield INR30 crores in annual savings. While the advertising market remains subdued year-on-year, the company is focused on digital solutions and leveraging its network in Tier 2/3 markets, maintaining a robust net cash position of INR261 crores post NCRPS redemption.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 2 fiscal years held (Mar 2014 to Mar 2015).
Financials
Net profit, year on year: +197% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 65 | 55 | 49 | 38 | 46 | 41 | 45 | 41 |
| Expenses | 55 | 100 | 48 | 43 | 39 | 88 | 36 | 35 |
| Operating profit | 11 | -45 | 1 | -5 | 8 | -47 | 9 | 6 |
| Operating margin | 16.6% | −83.0% | 1.9% | −14.5% | 16.4% | −116.4% | 20.0% | 15.0% |
| Other income | 7 | 7 | 7 | 7 | 8 | 5 | 8 | 7 |
| Interest | 3 | 3 | 3 | 3 | 3 | 1 | 1 | 1 |
| Depreciation | 9 | 9 | 7 | 7 | 7 | 7 | 4 | 4 |
| Profit before tax | 6 | -50 | -2 | -9 | 6 | -51 | 12 | 9 |
| Tax rate | 39.4% | −24.1% | −0.5% | −21.5% | 39.5% | −5.6% | 25.2% | 25.3% |
| Net profit | 4 | -38 | -2 | -7 | 4 | -48 | 9 | 7 |
| EPS (₹ per share) | 0.10 | -1.10 | -0.06 | -0.20 | 0.11 | -1.39 | 0.27 | 0.19 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 198 | 229 | 234 | 174 |
| Expenses | 176 | 195 | 257 | 219 |
| Operating profit | 23 | 33 | -22 | -44 |
| Other income | 20 | 23 | 27 | 27 |
| Interest | 4 | 10 | 12 | 10 |
| Depreciation | 33 | 33 | 35 | 28 |
| Profit before tax | 6 | 13 | -42 | -56 |
| Net profit | 3 | 7 | -34 | -53 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 69 | 69 | 69 | 69 | 69 | 69 |
| Reserves | 456 | 463 | 429 | 420 | 376 | 392 |
| Borrowings | 98 | 106 | 126 | 133 | 24 | 17 |
| Other liabilities | 33 | 42 | 41 | 35 | 27 | 32 |
| Total liabilities | 656 | 681 | 665 | 658 | 496 | 510 |
| Fixed assets | 233 | 219 | 179 | 170 | 106 | 96 |
| Capital work in progress | 0 | 1 | 0 | 0 | 0 | 0 |
| Investments | 220 | 247 | 311 | 332 | 250 | 280 |
| Other assets | 203 | 213 | 176 | 155 | 140 | 135 |
| Total assets | 656 | 681 | 665 | 658 | 496 | 510 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 5 | 23 | 31 | 27 | 17 | 22 |
| Cash from investing | 4 | -18 | -24 | -16 | -9 | 88 |
| Cash from financing | -7 | -7 | -8 | -8 | -7 | -114 |
| Net cash flow | 2 | -2 | -1 | 3 | 0 | -5 |
| Free cash flow | 5 | 20 | 21 | 18 | 4 | 17 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 221 | 164 | 121 | 117 | 118 | 112 |
| Cash conversion cycle | 221 | 164 | 121 | 117 | 118 | 112 |
| Working capital days | 210 | 140 | 164 | 125 | -53 | 107 |
| Return on capital employed | −5.0% | −1.0% | 1.0% | 3.0% | −5.0% | −9.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Promoters hold 74.05% as of Sept 2026; institutions added 0.00 pts since Jun 2026.
Named in the Sep 2026 filing
Every holder of Music Broadcast Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 74.05% | unchanged | |
| 3.74% | unchanged | |
| 1.20% | 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.
Your own record
Free account: one company. Everything above stays public.
Write why you follow Music Broadcast Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
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Guides on how to read this kind of business and the numbers that matter.
