B.A.G Films and Media Limited (BAGFILMS)
₹3.96 -0.25% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, B.A.G Films' revenue was ₹38.6 Cr (+22.6% year on year, -10.1% on the previous quarter), and net profit ₹3.6 Cr (+58.6% year on year); the operating margin was 18.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹38.6 | +22.6% | -10.1% |
| Operating profit | ₹7.2 | +33.7% | +15.8% |
| Net profit | ₹3.6 | +58.6% | +52.5% |
| EPS (₹) | 0.17 | +112.5% | +240.0% |
| Operating margin | 18.6% | — | — |
BAGFILMS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 84.69% of the BAGFILMS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 74.77%. That is close to its usual level. Turnover was only ₹3 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 91.4% · 88.4% · 90.3% · 77.4% · 84.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
B.A.G. Films and Media Limited announced the voting results and scrutinizer's report for its 33rd Annual General Meeting held on September 17, 2026. All 13 resolutions were passed with requisite majority, including the adoption of FY26 financial statements and director re-appointments. Additionally, shareholders approved multiple material related party transactions involving subsidiary E24 Glamour Limited with B.A.G. Live Entertainment, Skyline Tele Media Services, and B.A.G. Convergence. In these related party resolutions, interested promoter entities abstained, and public non-institutional votes passed the motions with 88.39% votes in favor.
- All 13 resolutions presented at the 33rd AGM were approved by shareholders
- Adoption of FY26 financial statements passed with 99.99% overall votes in favor (114,220,313 votes)
- Re-appointment of Independent Director Chandan Kumar Jain passed with 99.50% total votes in favor
- Material related-party transactions for E24 Glamour Limited passed with 88.39% public non-institutional approval (4,320,431 votes in favor vs 567,690 against)
B.A.G. Films and Media Limited successfully conducted its 33rd Annual General Meeting on September 17, 2026, through video conferencing. Shareholders voted on 13 ordinary and special resolutions via remote e-voting and e-voting during the meeting. Remote e-voting concluded on September 16, 2026, with the cut-off date fixed at September 10, 2026. Detailed voting results and the Scrutinizer's report will be declared within two working days.
- 33rd Annual General Meeting concluded at 4:45 p.m. on September 17, 2026
- Shareholders voted on 13 resolutions comprising Ordinary and Special business
- Remote e-voting was conducted between September 13, 2026 and September 16, 2026
- Cut-off date for eligibility to vote was September 10, 2026
B.A.G. Films and Media Limited has issued an intimation providing web links for its FY2025-26 Annual Report and the Notice of its 33rd Annual General Meeting (AGM). The AGM is scheduled to take place on September 17, 2026, at 04:00 PM IST via Video Conferencing/Other Audio Visual Means. Additionally, the company advised physical shareholders to update their PAN, KYC, and nomination records in compliance with SEBI circulars.
- 33rd AGM scheduled for September 17, 2026, at 04:00 PM IST via Video Conferencing
- Notice of AGM dated August 13, 2026, and FY2025-26 Annual Report dispatched electronically and hosted online
- Communication issued to physical shareholders to submit Form ISR-1, ISR-2, and SH-13/ISR-3 for KYC compliance
B.A.G. Films and Media Limited has issued the notice for its 33rd Annual General Meeting scheduled for September 17, 2026, via video conferencing. The company is seeking shareholder approval for routine business alongside material Related Party Transactions (RPTs) for FY27, including arrangements up to ₹145 Crore with News24 Broadcast India Limited and up to ₹103 Crore with E24 Glamour Limited. Additionally, shareholders will vote on the re-appointment of Independent Director Mr. Chandan Kumar Jain for a second 5-year term starting May 30, 2027.
- 33rd Annual General Meeting scheduled for September 17, 2026, at 4:00 PM IST via VC/OAVM
- Approval sought for material Related Party Transactions up to ₹145 Crore with News24 Broadcast India Limited for FY27
- Approval sought for material Related Party Transactions up to ₹103 Crore with subsidiary E24 Glamour Limited for FY27
- Proposal for re-appointment of Independent Director Chandan Kumar Jain for a 5-year term from May 30, 2027, to May 29, 2032
B.A.G Films and Media Limited has announced its 33rd Annual General Meeting (AGM) will be held on September 17, 2026, via video conferencing. The company has fixed September 10, 2026, as the cut-off date to determine shareholder eligibility for e-voting. Additionally, the register of members and share transfer books will be closed from September 11 to September 17, 2026. This is a standard regulatory procedure for the company to conduct its annual business and shareholder voting.
- 33rd Annual General Meeting scheduled for September 17, 2026, at 4:00 PM IST
- Cut-off date for e-voting eligibility set for September 10, 2026
- Book closure period defined from September 11, 2026, to September 17, 2026 (7 days)
- AGM to be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM)
B.A.G Films and Media Limited has announced its 33rd Annual General Meeting (AGM) to be held on September 17, 2026, via video conferencing. The company has fixed September 10, 2026, as the cut-off date for determining shareholder eligibility for e-voting. Consequently, the register of members and share transfer books will remain closed from September 11 to September 17, 2026. This is a standard procedural filing in compliance with SEBI and Companies Act regulations.
- 33rd Annual General Meeting scheduled for September 17, 2026, at 4:00 PM IST.
- Book closure period set from September 11, 2026, to September 17, 2026.
- Cut-off date for e-voting eligibility is fixed as September 10, 2026.
- Meeting to be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM).
B.A.G. Films and Media Limited has submitted its quarterly statement of deviation or variation for the period ended June 30, 2026. The company confirmed that there were no deviations or variations in the utilization of proceeds from its fundraise during this period. This statement has been reviewed by the Audit Committee as per SEBI (LODR) Regulations. This is a routine compliance filing indicating that funds are being used as per the objects stated in the offer documents.
- Reported Nil deviation or variation in the utilization of proceeds for the quarter.
- The statement covers the three-month period ending June 30, 2026.
- The filing was reviewed by the Audit Committee and submitted on August 13, 2026.
- Compliance maintained under Regulation 32 of SEBI (LODR) Regulations, 2015.
B.A.G. Films and Media Limited approved its Q1 FY27 financial results and confirmed the completion of a Rs 16.50 crore fundraise through the conversion of 20,000,000 warrants by promoters. Notably, the conversion price of Rs 8.25 per share is a significant premium (~75%) over the current market price of Rs 4.7. As of June 30, 2026, the company has utilized Rs 10.19 crore for business expansion and projects, leaving Rs 6.31 crore in unutilized funds. The 33rd Annual General Meeting is scheduled for September 17, 2026.
- Completed conversion of 20,000,000 warrants into equity shares at an issue price of Rs 8.25 per share
- Total funds raised via preferential allotment amount to Rs 16.50 crore, approximately 13.3% of current market cap
- Utilized Rs 10.19 crore for business expansion, projects, and general corporate purposes as of June 30, 2026
- Scheduled 33rd Annual General Meeting (AGM) for September 17, 2026, via video conferencing
- Re-appointed Chandan Kumar Jain as Independent Director for a second 5-year term starting May 30, 2027
B.A.G. Films and Media Limited has received final approval from both BSE and NSE for the listing and trading of 1,02,00,000 equity shares, effective August 13, 2026. These shares were issued to the Promoter Group at a price of Rs 8.25 per share (Rs 2 face value + Rs 6.25 premium) following the conversion of warrants. The total value of this allotment is approximately Rs 8.42 crore, which represents about 7.3% of the company's current market capitalization of Rs 115 crore. These shares are subject to a regulatory lock-in period until February 26, 2028.
- 1,02,00,000 equity shares approved for trading on BSE and NSE starting August 13, 2026
- Issue price of Rs 8.25 per share represents a significant premium over the current market price of Rs 4.3
- Total capital infusion of Rs 8.415 crore by the Promoter Group via warrant conversion
- Mandatory lock-in for the newly allotted shares is set until February 26, 2028
- Shares rank pari-passu with existing equity shares of the company
B.A.G Films and Media Limited has scheduled a board meeting for August 13, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. In compliance with SEBI insider trading regulations, the trading window for designated persons has been closed since June 24, 2026, and will remain so until August 15, 2026. This is a routine administrative filing providing the timeline for the upcoming earnings release.
- Board meeting scheduled for August 13, 2026, to approve quarterly results.
- Financial results pertain to the quarter ended June 30, 2026.
- Trading window for insiders remains closed until August 15, 2026.
- Initial trading window closure was effective from June 24, 2026.
B.A.G Films and Media Limited has received listing approval from both BSE and NSE for 1,02,00,000 equity shares. These shares were issued to the Promoter Group following the conversion of warrants at a price of Rs 8.25 per share (Rs 2 face value plus Rs 6.25 premium). The total capital infusion amounts to approximately Rs 8.42 crore, representing about 7.2% of the company's current market capitalization of Rs 117 crore. This follows a recent trend of increasing promoter holding, which rose from 46.86% to 49.37% as of March 2026.
- Listing approval received for 1,02,00,000 equity shares of Rs 2 each.
- Shares issued at a premium of Rs 6.25 per share, totaling Rs 8.25 per share.
- Total capital infusion of approximately Rs 8.42 crore into the company.
- Allotment specifically targeted to the Promoter Group on a preferential basis.
- Approval letters received from BSE and NSE dated July 31, 2026.
B.A.G. Films and Media Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended June 30, 2026. The company confirmed that it captured 2 specific events involving Unpublished Price Sensitive Information (UPSI) during the quarter, meeting all regulatory requirements. This filing is a mandatory SEBI requirement designed to prevent insider trading by maintaining a non-tamperable audit trail. No non-compliances were reported for the period, and the company maintains a record retention capability of 8 years.
- 2 UPSI events were required to be captured and were successfully recorded in the database for the quarter ended June 30, 2026
- 0 non-compliances were observed or reported in the previous quarter
- The Structured Digital Database (SDD) is confirmed to be non-tamperable with an 8-year record maintenance capability
- The filing confirms adherence to Regulation 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015
B.A.G Films and Media Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The Registrar and Transfer Agent, Alankit Assignments Limited, confirmed that no physical share certificates were received for dematerialization during the quarter ended June 30, 2026. This is a standard administrative filing required for all listed companies to maintain regulatory transparency regarding shareholding formats. There is no impact on the company's financial position or business operations.
- Compliance certificate issued for the quarter ended June 30, 2026
- Zero (0) physical share certificates were received for dematerialization during the period
- Confirmation provided by Registrar and Transfer Agent, Alankit Assignments Limited
- Filing submitted to exchanges on July 06, 2026
B.A.G Films and Media Limited announced the promotion of Mr. Manak Gupta to Managing Editor of its subsidiary, News24 Broadcast India Limited, on July 03, 2026. This leadership role is central to the company's news broadcasting operations, which contribute to a TTM revenue of Rs 150 Cr. The company maintains a strong balance sheet with Rs 0 Cr debt and a net worth of Rs 279 Cr. This internal promotion aims to ensure editorial continuity and mitigate the risk of losing key creative personnel.
- Promotion of Mr. Manak Gupta to Managing Editor effective July 03, 2026
- Company reported TTM revenue of Rs 150 Cr and PAT of Rs 5 Cr
- Maintains a debt-free status with Rs 0 Cr total debt
- Promoter holding remains stable at 49.37% as of March 2026
Mr. Lokesh Gautam has resigned as the Company Secretary and Key Managerial Personnel (KMP) of News24 Broadcast India Limited, a subsidiary of B.A.G. Films and Media Limited. The resignation was effective from the close of business hours on June 30, 2026, citing other career opportunities. This is a routine administrative change at the subsidiary level and is not expected to impact the parent company's consolidated financials, which include a TTM revenue of Rs 150 Cr and PAT of Rs 5 Cr.
- Resignation of Mr. Lokesh Gautam (ICSI Membership No: ACS26181) from the subsidiary company.
- Effective date of resignation is June 30, 2026.
- The change occurs at News24 Broadcast India Limited, a subsidiary of the listed entity.
- Parent company maintains a TTM revenue of Rs 150 Cr and zero debt.
Financial Performance
Revenue Growth by Segment
Standalone revenue grew 6.10% YoY to INR 38.14 Cr (INR 3,814.28 Lakhs) from INR 35.95 Cr. Consolidated revenue reached INR 135.95 Cr (INR 13,595.87 Lakhs). The company operates across six segments: Audio-Visual Production, Leasing, F.M. Radio, Podcast, Television Broadcasting, and Content Syndication, though specific percentage growth for each individual segment was not disclosed in the provided extracts.
Geographic Revenue Split
Not disclosed in available documents. The company operates from Noida (UP) and New Delhi, serving the Indian Media and Entertainment market.
Profitability Margins
Gross Margin declined by 8.25%, moving from 26% in FY24 to 23% in FY25. Net Profit Margin saw a slight contraction of 2.02%, ending at 2.86% compared to 2.92% in the previous year. These declines indicate rising operational costs or pricing pressure in the competitive media landscape.
EBITDA Margin
EBITDA decreased by 6.51% YoY to INR 6.57 Cr (INR 657.48 Lakhs) from INR 7.03 Cr. This reduction in core profitability despite revenue growth suggests that operating expenses, particularly content production or administrative costs, grew faster than top-line income.
Capital Expenditure
Not disclosed in available documents; however, the company is investing in AI-driven content creation and digital transformation to modernize its production pipeline.
Credit Rating & Borrowing
The Debt-Equity Ratio is low at 0.13, though it increased by 9.02% from 0.12 in the previous year. The Interest Coverage Ratio improved by 1.59% to 1.42, indicating a stable but tight ability to meet interest obligations from operating profits.
Operational Drivers
Raw Materials
The primary 'raw materials' are intellectual assets including scripts, dialogues, clips, and digital content, which form the basis of the company's IP database. Human capital is also a critical input, with 14 permanent employees on the roll as of March 31, 2025.
Import Sources
Not disclosed in available documents; content is primarily developed internally or sourced from domestic creators within India.
Key Suppliers
Not disclosed in available documents; the company relies on a network of content creators, freelancers, and technology providers for its broadcasting and production needs.
Capacity Expansion
The company is expanding its digital reach through AI-driven content localization (subtitling/dubbing) and integrated radio solutions including event IPs and podcasts to offset the stagnation in traditional radio ad rates.
Raw Material Costs
Not explicitly disclosed as a percentage of revenue, but the company emphasizes cost optimization at all levels by strengthening its intellectual property database to reduce reliance on external content sourcing.
Manufacturing Efficiency
Manufacturing efficiency in this context relates to content production; the company is adopting Generative AI to automate editing and script generation, which is expected to reduce production timelines and costs.
Logistics & Distribution
Not disclosed in available documents; distribution is primarily digital via broadcasting and streaming platforms.
Strategic Growth
Expected Growth Rate
9%
Growth Strategy
Growth will be achieved through the adoption of Generative AI for personalized recommendations and automated editing, expanding global reach via AI-driven content localization, and pivoting the radio segment toward integrated solutions like event IPs, influencer marketing, and branded content to counter stressed ad rates.
Products & Services
Television broadcasting, FM radio programming, podcasts, audio-visual production, content syndication, and leasing of media infrastructure.
Brand Portfolio
Radio Dhamaal, BAG Convergence, BAG Live Entertainment, and BAG Films and Media.
New Products/Services
New initiatives include commissioned podcasts, audio stories, and event-based Intellectual Properties (IPs) designed to provide a one-stop-shop for retail advertisers.
Market Expansion
Targeting regional content demand and expanding global reach through digital platforms and AI-enabled subtitling/dubbing.
Market Share & Ranking
Not disclosed in available documents; the radio segment industry-wide is currently at 81% of its 2019 revenue levels.
Strategic Alliances
The company collaborates with industry bodies like FICCI and EY for market research and follows the 'Shape the Future' industry roadmap.
External Factors
Industry Trends
The Indian M&E sector is growing through technology adoption and regional content demand. Radio is evolving into a multi-platform service (podcasts/events) as traditional ad volumes grew only 3% in 2024.
Competitive Landscape
Faces intense competition from OTT platforms and digital-first content creators who are disrupting traditional TV and radio viewership.
Competitive Moat
The company's moat is built on its extensive IP database (scripts, clips, dialogues) and established brand presence in the FM radio space (Radio Dhamaal). Sustainability depends on successfully navigating the shift from traditional broadcasting to digital/AI-driven content.
Macro Economic Sensitivity
Highly sensitive to advertising spend, which is correlated with GDP growth and corporate profitability. Economic downturns lead to immediate reductions in media budgets.
Consumer Behavior
Shift toward personalized content recommendations and high demand for regional language programming.
Geopolitical Risks
Not disclosed in available documents; primarily focused on the domestic Indian market.
Regulatory & Governance
Industry Regulations
Subject to DPDPA (Digital Personal Data Protection Act) compliance, OTT regulations, and stringent censorship standards which can impact operational efficiency and content variety.
Environmental Compliance
Not disclosed in available documents; media operations have lower environmental impact compared to heavy industry.
Taxation Policy Impact
The company faces significant judgment areas in taxation provisions and contingent liabilities, which are subject to the outcomes of litigations and interpretations of tax legislations.
Legal Contingencies
The company has provisions for taxation and litigation matters. Auditors identified the assessment of these contingent liabilities as a 'Key Audit Matter' due to the inherent complexity in estimating future costs and legal outcomes.
Risk Analysis
Key Uncertainties
Digital piracy poses a major threat to content value. Regulatory shifts in digital content standards could impact 10-15% of operational efficiency through increased compliance costs.
Geographic Concentration Risk
Operations are concentrated in the North India region (Noida/Delhi), though broadcasting reach is national.
Third Party Dependencies
Dependency on technology providers for AI tools and digital distribution platforms.
Technology Obsolescence Risk
High risk if the company fails to keep pace with AI-driven content generation and the transition of audiences from linear TV/Radio to digital formats.
Credit & Counterparty Risk
Revenue recognition involves material estimation of trade discounts and rebates; auditors highlighted the accrual of these discounts as a key risk area for financial accuracy.
