Q2 2026 Zee Entertainment Enterprises Ltd Earnings Call Transcript

Oct 16, 2025 / 12:00PM GMT

Release Date Price: ₹109.35 (-0.55%)

Transcript

Key Points

Positve

ZEE5 revenues increased by 32% YoY in Q2, driven by enhanced content offerings and a revised pricing strategy.
The company achieved its highest ever quarterly revenue, crossing INR3,000 million, with a significant reduction in EBITDA loss.
Zee Entertainment Enterprises Ltd (BOM:505537) garnered an 18.2% market share in July, with seven channels achieving leadership in their respective markets.
The company has strategically entered new segments like short-form content, expanding its audience base.
Zee Music business remains profitable, with over 54 billion total video views and 172 million subscribers on YouTube.

Negative

Advertising revenues were 11% lower YoY, reflecting a slow recovery in the advertising market.
Overall operating costs increased by 9% YoY due to higher programming and advertising expenses.
The company's EBITDA margins were impacted, standing at 7.4% due to increased content and promotional costs.
There is a cautious outlook on achieving the previously guided 18% to 20% exit margin due to current market conditions.
The pace of recovery in advertising spends is slow, with FMCG being the primary driver of marginal growth.

Operator

Ladies and gentlemen, good day and welcome to the Q2 FY26 earnings call hosted by Zee Entertainment Enterprises Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Ankit Arora, Head of Investor Relations, Zee Entertainment Enterprises Limited. Thank you, and over to you, sir.

Ankit Arora

Zee Entertainment Enterprises Ltd - Head of Investor Relations & ESG

Thanks, Sagar. Hello, everyone. Welcome to our Q2 FY26 earnings discussion. We hope you have had an opportunity to review the results. Today we are joined by our CEO, Mr. Punit Goenka, along with the senior management team. We will start with the opening remarks from Mr. Goenka followed by commentary on operating and financial performance by Mr. Mukund Galgali, Deputy CEO and CFO. We will subsequently open the floor for questions and answers.

Before we get started, I would like to remind everyone that some of the statements made or discussed on today's conference call will be forward-looking in nature and must be

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