HT Media Limited (HTMEDIA)
₹24.78 -0.40% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, HT Media's revenue was ₹511 Cr (-0.5% year on year, +84.1% on the previous quarter), and net profit ₹-9.7 Cr (against a profit a year earlier); the operating margin was 16.5%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹511 | -0.5% | +84.1% |
| Operating profit | ₹84.2 | +228.7% | +901.8% |
| Net profit | ₹-9.7 | to loss | loss narrowed |
| EPS (₹) | -0.58 | to loss | loss narrowed |
| Operating margin | 16.5% | — | — |
HTMEDIA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 75.72% of the HTMEDIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 73.52%. That is close to its usual level. Turnover was only ₹18 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 84.6% · 81.2% · 82.5% · 82.6% · 75.7%
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
HT Media Limited submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period from July 1, 2026 to September 30, 2026. Issued by registrar KFin Technologies Limited, the document confirms that dematerialization requests received were processed within 15 days of receipt. The cancelled physical share certificates were mutilated, and depository records were updated accordingly. This is a standard quarterly administrative filing with no financial or operational impact.
- Compliance certificate pertains to the quarter ended September 30, 2026
- RTA KFin Technologies confirmed demat requests were addressed within 15 days of receipt
- Covers operations during the period from July 1, 2026 to September 30, 2026
- Filing submitted under Regulation 74(5) of SEBI Depositories and Participants Regulations
HT Media Limited announced the voting results and Scrutinizer's Report for its 24th Annual General Meeting held on September 25, 2026. A total of 16,76,31,778 votes were polled out of 23,27,73,149 shares, representing a 72.02% turnout. Shareholders approved all four resolutions, including the adoption of FY26 financial statements, the re-appointment of Director Priyavrat Bhartia, and the remuneration of Chairperson Shobhana Bhartia. Notably, the public non-institutional segment cast 56,78,709 votes (96.99% against their polled votes) against Priyavrat Bhartia's re-appointment, though the resolution passed overall with 96.61% approval.
- Overall voter participation stood at 72.0151% (16,76,31,778 votes polled out of 23,27,73,149 total shares)
- Adoption of FY26 financial statements passed with 99.9804% votes in favour (16,75,98,873 votes)
- Re-appointment of Director Priyavrat Bhartia passed with 96.6124% favour, despite 56,78,709 public non-institutional votes against
- Remuneration of Chairperson & Editorial Director Shobhana Bhartia approved with 96.6115% support (16,19,52,109 votes in favour)
- Cost auditor remuneration for FM Radio business for FY27 ratified with 99.9797% support
HT Media Limited has issued letters to shareholders who do not have registered email addresses as of August 25, 2026, providing web-links to access the Annual Report for FY 2025-26 and the Notice of the 24th Annual General Meeting (AGM). The company's 24th AGM is scheduled to take place virtually on Friday, September 25, 2026. This disclosure is a routine compliance filing pursuant to Regulation 36(1)(b) of SEBI LODR Regulations.
- 24th Annual General Meeting scheduled for Friday, September 25, 2026 via Video Conferencing
- Cut-off date for dispatch of notices to unregistered email shareholders was August 25, 2026
- Annual Report for FY 2025-26 and AGM Notice uploaded and accessible via web links
- Filing executed under Regulation 36(1)(b) of SEBI LODR Regulations
HT Media Limited has issued the notice for its 24th Annual General Meeting scheduled for September 25, 2026, alongside the Annual Report for FY26. Key agenda items include the adoption of FY26 audited financial statements and the re-appointment of director Shri Priyavrat Bhartia. Additionally, shareholder approval is sought for the remuneration of Chairperson & Editorial Director Smt. Shobhana Bhartia with a basic salary of Rs 32,00,000 per month (capped up to Rs 60,00,000 per month) for the period July 1, 2026 to June 30, 2028. The company also proposed ratifying Rs 90,000 remuneration for cost auditors of its FM Radio business for FY27.
- 24th AGM scheduled for Friday, September 25, 2026, via Video Conferencing
- Special resolution proposed for Chairperson remuneration at basic salary of Rs 32,00,000/month (ceiling of Rs 60,00,000/month) from July 1, 2026 to June 30, 2028
- Ratification of Rs 90,000 remuneration for M/s. Ramanath Iyer & Co as Cost Auditor for FM Radio business for FY27
- Ordinary business includes adoption of standalone and consolidated FY26 financial statements
HT Media Limited has approved the allotment of 3,87,87,137 warrants on a preferential basis at an issue price of ₹24.57 per warrant, aggregating to ₹95.30 crore. The company has received the initial 25% subscription consideration amounting to ₹23.82 crore. The total fundraise represents approximately 16.9% of HT Media's current market capitalization of ₹563 crore. Key allottees include promoter entity The Hindustan Times Limited (1.34 crore warrants) alongside institutional and other investors including Tremis Consultancy LLP (1.24 crore warrants).
- Allotted 3,87,87,137 warrants at an issue price of ₹24.57 per warrant on a preferential basis.
- Total issue size is ₹95.30 crore, with upfront 25% consideration of ₹23.82 crore received.
- Promoter entity The Hindustan Times Limited was allotted 1,34,31,013 warrants (₹33.00 crore total value).
- Each warrant is convertible into 1 equity share of face value ₹2 upon payment of the remaining 75%.
HT Media reported a strong turnaround in Q1 FY27, with consolidated revenue growing 15% YoY to Rs 497 Cr. Profitability improved significantly as PAT reached Rs 47 Cr, driven by a 15% growth in print advertising revenue (Rs 295 Cr) and a 12-point EBITDA margin expansion to 18%. Management highlighted a robust net cash position of Rs 922 Cr, yet faced shareholder scrutiny regarding a proposed preferential issue priced at ~Rs 24, significantly below the book value of ~Rs 70. The digital segment saw a 28% revenue decline as the company deliberately resets the portfolio for long-term profitability.
- Consolidated revenue increased 15% YoY to Rs 497 Cr for the quarter ended June 30, 2026.
- EBITDA grew nearly 3x to Rs 90 Cr, resulting in a PAT of Rs 47 Cr compared to historical losses.
- Print advertising revenue rose 15% YoY to Rs 295 Cr, while English circulation revenue grew 14% to Rs 13 Cr.
- Employee costs were reduced by 11% YoY to Rs 99 Cr from Rs 111 Cr through organizational right-sizing.
- Net cash position remains strong at Rs 922 Cr, representing approximately 156% of the current market cap.
HT Media shareholders have approved the issuance of warrants on a preferential basis at the EGM held on August 7, 2026. The resolution passed with 88.75% of total votes in favor, primarily driven by 100% support from the promoter group (69.5% holding). However, there was significant dissent from public non-institutional shareholders, with 98.7% of their cast votes (2.05 crore votes) opposing the resolution. This capital raise is critical as the company reported a TTM net loss of Rs 50.37 crore and carries a high Debt-to-Equity ratio of 1.31.
- Preferential warrant issuance approved with 88.748% of total valid votes in favor.
- Promoter group cast 16.18 crore votes, representing 100% support from their participating shares.
- Public non-institutional shareholders cast 2.05 crore votes against the resolution, representing 98.7% of their polled votes.
- Total voter turnout was 78.44%, with 18.26 crore votes cast out of 23.28 crore total equity shares.
- The company had 49,252 shareholders as of the July 31, 2026 cut-off date.
HT Media Limited shareholders have approved a special resolution for the issuance of warrants on a preferential basis during the Extraordinary General Meeting (EGM) held on August 7, 2026. The resolution passed with 88.75% of total polled votes in favor, primarily supported by the promoter group. However, a significant 98.7% of the public non-institutional shareholders who participated in the voting opposed the resolution. This capital action comes as the company manages a debt of ₹685 Cr and a TTM net loss of ₹50 Cr.
- Special resolution for issuance of warrants on preferential basis passed with 88.75% majority of polled votes.
- Total of 18.26 crore votes were polled, representing 78.44% of the company's 23.28 crore total equity shares.
- Promoter group (69.5% holding) cast 16.18 crore votes, representing 100% support from the group.
- Public non-institutional shareholders cast 2.05 crore votes against the resolution, representing 98.7% of their polled segment.
- The meeting was attended by 115 shareholders through video conferencing/audio-visual means.
HT Media shareholders have approved the issuance of 3,87,87,137 warrants on a preferential basis to raise ₹95.30 Crores. The warrants are priced at ₹24.57 each, involving both the promoter group and five non-promoter entities. Crucially, ₹90 Crores of the proceeds are earmarked for debt repayment, addressing the company's high debt-to-equity ratio of 1.31. This capital infusion represents approximately 16.5% of the company's current market capitalization.
- Approved issuance of 3,87,87,137 warrants on a preferential basis at ₹24.57 per warrant.
- Total fundraise amount of ₹95.30 Crores, representing ~16.5% of current market cap.
- ₹90 Crores allocated specifically for debt repayment to deleverage the balance sheet.
- Promoter (The Hindustan Times Limited) and five non-promoter entities are the primary subscribers.
- Debt reduction of ₹90 Cr represents approximately 13.1% of the total ₹685 Cr debt.
HT Media reported a significant turnaround in Q1 FY27, with consolidated PAT reaching Rs 47 Cr compared to Rs 4 Cr in the year-ago period. Total revenue grew 15% YoY to Rs 497 Cr, driven by a 15% increase in Print advertising revenue which reached Rs 295 Cr. While the Print and Radio segments showed margin improvement, the Digital segment saw a 28% revenue decline to Rs 27 Cr as the company streamlined its portfolio. The company also highlighted a proposed preferential issue to strengthen its capital structure and manage its debt profile.
- Consolidated PAT surged 991% YoY to Rs 47 Cr in Q1 FY27 from Rs 4 Cr in Q1 FY26
- Total Revenue increased 15% YoY to Rs 497 Cr, representing approximately 30% of TTM revenue
- Print Advertising revenue grew 15% YoY to Rs 295 Cr, while circulation revenue remained steady at Rs 52 Cr
- Digital segment revenue declined 28% YoY to Rs 27 Cr due to deliberate portfolio streamlining
- Net cash position stood at Rs 922 Cr at the end of the period, down 6% from Rs 976 Cr YoY
HT Media reported a narrowed consolidated net loss of ₹7.96 Cr for Q1 FY27, compared to a loss of ₹12.61 Cr in Q1 FY26. Revenue from operations grew 11% YoY to ₹437.30 Cr, while other income surged to ₹59.66 Cr. The Board approved a preferential issue of 3.88 Cr warrants at ₹24.57 each, aiming to raise approximately ₹95.3 Cr, which represents about 15.4% of the current market capitalization. Operating margins turned positive at 0.44%, a significant recovery from -6.59% in the year-ago period.
- Revenue from operations increased 11% YoY to ₹437.30 Cr from ₹393.76 Cr.
- Consolidated net loss narrowed significantly to ₹7.96 Cr from ₹12.61 Cr in Q1 FY26.
- Board approved issuance of 3,87,87,137 warrants at ₹24.57 per warrant to both promoters and non-promoters.
- Operating margin improved to 0.44% from -6.59% in the corresponding quarter of the previous year.
- Other income rose 51.8% YoY to ₹59.66 Cr, providing a substantial cushion to the bottom line.
HT Media has scheduled its board meeting for August 5, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. A results webinar for analysts and investors will follow on the same day at 14:30 IST. The company enters this earnings cycle with a TTM net loss of Rs 50.37 Cr and a debt of Rs 685 Cr. Investors will be looking for updates on the digital segment (OTTplay) and the impact of newsprint costs on print margins.
- Board meeting scheduled for August 5, 2026, to approve Q1 FY27 results
- Investor conference call set for August 5, 2026, at 14:30 IST
- Company reported a TTM net loss of Rs 50.37 Cr as of FY26
- TTM Revenue stands at Rs 1652.3 Cr with a debt-to-equity ratio of 1.31
HT Media Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, KFin Technologies Limited, confirmed that no requests for the dematerialization of equity shares were received during the quarter from April 1, 2026, to June 30, 2026. This is a standard administrative filing and does not reflect any change in the company's financial position or business operations.
- Zero (0) requests received for dematerialization of shares during the quarter.
- The reporting period spans from April 1, 2026, to June 30, 2026.
- Certificate issued by KFin Technologies Limited on July 4, 2026.
- Filing confirms compliance with SEBI (Depositories and Participants) Regulations, 2018.
HT Media has scheduled an Extraordinary General Meeting (EGM) on August 7, 2026, to seek approval for a preferential issue of 3,87,87,137 warrants. The warrants are priced at ₹24.57 each, aiming to raise approximately ₹95.30 Cr. The promoter group will subscribe to ₹33 Cr (34.6% of the issue), while five non-promoter entities will contribute the remaining ₹62.3 Cr. This capital infusion is significant as it represents roughly 18.3% of the company's current net worth of ₹521 Cr.
- Issuance of 3,87,87,137 warrants at a floor price of ₹24.57 per warrant
- Total fundraise amount aggregates to ₹95,29,99,956.09
- Promoter (The Hindustan Times Limited) to subscribe to 1,34,31,013 warrants worth ₹33 Cr
- Five non-promoter entities to subscribe to 2,53,56,124 warrants worth ₹62.3 Cr
- Warrant tenure is 18 months for promoters and 12 months for non-promoters
HT Media's board has approved a preferential issue of 3,87,87,137 warrants at a price of Rs 24.57 per warrant, aiming to raise approximately Rs 95.30 crore. The issue includes 1.34 crore warrants for the promoter and 2.54 crore warrants for five non-promoter entities. This capital infusion is significant, representing about 18.3% of the company's current net worth (Rs 521 Cr), which is critical given the TTM net loss of Rs 50 Cr and a high Debt-to-Equity ratio of 1.31. An Extra-ordinary General Meeting (EGM) is scheduled for August 7, 2026, to obtain shareholder approval.
- Issuance of 3,87,87,137 warrants at a fixed price of Rs 24.57 per warrant
- Total aggregate cash consideration of up to Rs 95,29,99,956.09
- Promoter (The Hindustan Times Ltd) to be allotted 1,34,31,013 warrants
- Post-conversion promoter holding expected to decrease from 69.50% to 64.52%
- Warrant conversion tenure set at 18 months for promoters and 12 months for non-promoters
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations increased by 6.5% to INR 1,806 Cr in FY 2024-25. Standalone revenue for Q2 FY26 was INR 244.42 Cr, representing a 1.88% YoY growth from INR 239.90 Cr. The Print business grew both annually and sequentially in Q2 FY26, while the Radio business saw sequential improvement in revenue.
Geographic Revenue Split
Not disclosed as a percentage split. However, the company holds established market positions in English print across Delhi NCR, Mumbai, Uttar Pradesh, and Punjab, and in Hindi print across Delhi NCR, Uttarakhand, Bihar, and Jharkhand.
Profitability Margins
Consolidated PAT margin improved to 0.7% in FY 2024-25 from -4.9% in FY 2023-24. Standalone net loss margin for Q2 FY26 was -19.74% compared to -5.36% in Q2 FY25, primarily impacted by an impairment of investment in subsidiaries of INR 37.76 Cr.
EBITDA Margin
Consolidated EBITDA margin increased to 9.2% in FY 2024-25 from 6.3% in FY 2023-24, a 2.9 percentage point improvement driven by newsprint cost rationalization. Standalone operating margin for Q2 FY26 was 3.67% compared to -5.93% in Q2 FY25.
Credit Rating & Borrowing
The company maintains a Negative outlook due to weaker operating performance in the digital segment. Gross liquidity was ~INR 1,612 Cr as of September 30, 2024, comfortably exceeding gross debt of ~INR 692 Cr. As of March 31, 2025, net cash position was nearly INR 970 Cr.
Operational Drivers
Raw Materials
Newsprint is the primary raw material, representing a significant portion of the cost structure in the Print segment.
Raw Material Costs
Newsprint-led raw material costs were rationalized in FY 2024-25, which was a key driver in improving the EBITDA margin from 6.3% to 9.2%.
Manufacturing Efficiency
Operating profit of the print segment improved to INR 60 Cr in 9MFY25 from INR 26 Cr in 9MFY24 due to steady newsprint prices and ad revenue improvement.
Strategic Growth
Expected Growth Rate
6.50%
Growth Strategy
Growth is targeted through the digital entertainment landscape via OTTplay, which shows robust renewal rates and rising engagement. In the Print segment, the company is focusing on cost optimization and expanding operating margins in key North Indian markets.
Products & Services
Newspapers (Hindustan Times, Mint, Hindustan), Radio broadcasts (Fever FM, Radio Nasha), and Digital entertainment subscriptions (OTTplay).
Brand Portfolio
Hindustan Times, Mint, Hindustan, Fever FM, Radio Nasha, OTTplay.
New Products/Services
OTTplay is the primary new digital platform, positioned as a frontrunner in India's evolving digital entertainment landscape.
Market Share & Ranking
Not disclosed as a percentage, but the company holds leading positions in Delhi NCR, Bihar, and Jharkhand for its print publications.
External Factors
Industry Trends
The industry is rapidly shifting from physical print to digital media. The digital entertainment landscape is growing, while core radio propositions across the industry remain under duress.
Competitive Landscape
The company competes with other major print media houses and digital-first news and entertainment platforms.
Competitive Moat
The company's moat is built on the established brand value of legacy publications like Hindustan Times and dominant market shares in specific regions like Bihar and Jharkhand, which provide a stable but maturing revenue base.
Macro Economic Sensitivity
Advertising revenues are highly sensitive to economic cycles and GDP growth, which directly impact corporate marketing spends.
Consumer Behavior
Increasing consumer preference for digital content consumption over physical newspapers is a primary trend affecting long-term demand.
Geopolitical Risks
Exposure to global newsprint prices, which are subject to international supply chain disruptions and geopolitical tensions.
Regulatory & Governance
Industry Regulations
Operations are subject to SEBI (LODR) regulations and media-specific licensing. A subsidiary company surrendered its license and closed operations on November 25, 2025.
Legal Contingencies
The company faces ongoing exposure to legal liabilities related to content and operations, though specific pending court case values were not disclosed.
Risk Analysis
Key Uncertainties
Prolonged delay in the ramp-up of the digital segment (OTTplay) could materially deplete liquidity. Newsprint price volatility remains a key uncertainty for the print business.
Geographic Concentration Risk
High revenue concentration in North India, specifically Delhi NCR, Bihar, and Jharkhand.
Third Party Dependencies
Dependency on newsprint suppliers for the primary raw material of the print segment.
Technology Obsolescence Risk
High risk of technology obsolescence as traditional print media is replaced by digital platforms, necessitating heavy investment in digital transformation.
Credit & Counterparty Risk
Receivables quality was not detailed, but the group's strong liquidity of INR 1,549 Cr provides a significant buffer against counterparty risks.
