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TVTODAY - T.V. Today Netw.

📊 NSE: TVTODAY 🏢 Entertainment / Electronic Media Software 📅 Last Updated: 12/14/2025 14:06

📢 Recent Corporate Announcements

TV Today Network Seeks Shareholder Approval for Appointment of Independent Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 02 Mar 2026, 02:08 PM

TV Today Network Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Abhishek Malhotra as a Non-Executive Independent Director. The proposed appointment is for a fixed term of five consecutive years, contingent upon approval from the Ministry of Information and Broadcasting (MIB). Shareholders as of the cut-off date of February 27, 2026, are eligible to participate in the remote e-voting. The voting window is scheduled to remain open from March 03, 2026, until April 01, 2026.

Proposed appointment of Mr. Abhishek Malhotra as Non-Executive Independent Director for a 5-year term.
The appointment requires a Special Resolution to be passed via remote e-voting only.
E-voting period is set from March 03, 2026 (09:00 AM) to April 01, 2026 (05:00 PM).
Eligibility for voting is determined by the cut-off date of February 27, 2026.
Final appointment is subject to regulatory clearance from the Ministry of Information and Broadcasting.

💡 Investors should monitor the voting results to ensure the company maintains a qualified and independent board of directors. This is a routine governance matter and does not require immediate changes to investment positions.

TV Today Q3 FY26: Revenue Declines 8% YoY to ₹212 Cr; Reports Net Loss of ₹0.76 Cr

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 05:46 PM

TV Today Network reported a weak performance for Q3 FY26, with standalone revenue declining 8.4% YoY to ₹212.36 crore. The company swung to a net loss of ₹0.76 crore for the quarter, a sharp contrast to the ₹8.82 crore profit recorded in the year-ago period. For the nine-month period ended December 2025, net profit collapsed by over 93% to ₹4.52 crore from ₹68.60 crore. The company also announced a new MoU for the sale of its FM Radio operations following the termination of a previous agreement.

Q3 FY26 standalone revenue from operations stood at ₹212.36 crore, down from ₹231.78 crore YoY.
Reported a net loss of ₹0.76 crore in Q3 FY26 versus a profit of ₹8.82 crore in Q3 FY25.
9M FY26 net profit plummeted to ₹4.52 crore from ₹68.60 crore in the previous year, a 93.4% decline.
Exceptional items of ₹12.18 crore related to the radio business impacted the nine-month performance.
Board approved the appointment of Mr. Abhishek Malhotra as an Independent Director for a 5-year term.

💡 The sharp decline in profitability and revenue suggests significant headwinds in the core television business and advertising environment. Investors should remain cautious and monitor the completion of the radio business divestment and signs of margin recovery.

TV Today Network Receives ₹11.16 Crore Income Tax Demand Notice for FY 2019-20

🔴 NEGATIVE ⭐ 4/10

LEGAL 📅 10 Feb 2026, 07:39 PM

TV Today Network Limited has received a demand notice of ₹11.16 crore from the Assistant Commissioner of Income Tax (ACIT), Delhi, for the financial year 2019-20. The demand was raised following a rectification order due to an alleged incorrect set-off of carried forward losses. The company has stated that it will file an appeal before the Commissioner of Income Tax (Appeals) to contest this demand. Management currently believes there is no material impact on the company's financials or operations.

Income tax demand of ₹11,16,14,958 raised for FY 2019-20
Notice issued by ACIT Circle 25(1) Delhi under Section 154 read with Section 143(1)
Dispute involves alleged incorrect set-off of carried forward losses
Company to file an appeal before the Commissioner of Income Tax (Appeals)
Management maintains that the demand has no material impact on current operations

💡 Investors should monitor the outcome of the appeal process as it represents a potential contingent liability. While the amount is not immediately critical to the company's liquidity, it remains a regulatory risk to track.

TV Today Receives Revised GST Demand of Rs 1.95 Crore for FY 2019-20

🟡 NEUTRAL ⭐ 4/10

LEGAL 📅 09 Feb 2026, 07:14 PM

TV Today Network Limited has received a revised order from the Commissioner CGST (Appeals), Noida, regarding tax disputes for FY 2019-20. The revised demand for Input Tax Credit (ITC) stands at Rs 1.95 crore, down from the original demand of Rs 2.16 crore. Additionally, a penalty of Rs 19.54 lakh has been imposed along with applicable interest. The company has stated it will contest this order before the Appellate Tribunal (GSTAT) and currently sees no immediate financial impact.

Revised GST demand of Rs 1,95,48,739 raised for FY 2019-20 regarding ineligible ITC.
Penalty of Rs 19,54,873 imposed in addition to the tax demand and interest.
Original demand of Rs 2,16,11,820 reduced following the company's initial appeal.
Company plans to file a further appeal before the Appellate Tribunal (GSTAT).
Management confirms no immediate financial impact on the company's operations.

💡 Investors should treat this as a routine tax litigation matter as the amount involved is not material relative to the company's balance sheet. No immediate action is required.

TV Today Network Submits SEBI Compliance Certificate for Q3 FY2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 07:29 PM

TV Today Network Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MCS Share Transfer Agent Limited, confirms the processing of securities for the quarter ended December 31, 2025. It verifies that securities received for dematerialization were listed on stock exchanges and physical certificates were mutilated and cancelled within the mandatory 15-day timeframe. This is a standard regulatory filing ensuring the integrity of the company's shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Confirms dematerialization requests were handled within the 15-day regulatory timeframe.
Issued by the company's Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited.
Ensures physical certificates were mutilated and cancelled after due verification and listing.

💡 This is a routine administrative filing with no impact on company fundamentals. No action is required from investors based on this announcement.

TV Today Board Meeting on Feb 13, 2026, to Approve Q3 FY26 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 26 Dec 2025, 05:34 PM

TV Today Network Limited has scheduled a Board Meeting for February 13, 2026, to review and approve the unaudited standalone and consolidated financial results for the quarter ending December 31, 2025. In line with SEBI insider trading regulations, the company has announced a trading window closure for insiders from January 1, 2026, to February 15, 2026. This is a routine regulatory announcement preceding the quarterly earnings release. Investors should track the results on the specified date to assess the company's performance in the media and broadcasting sector.

Board meeting scheduled for February 13, 2026, to approve Q3 FY26 financial results.
Trading window for insiders to remain closed from January 1, 2026, to February 15, 2026.
The results will include both Standalone and Consolidated financial statements for the period ending December 31, 2025.
The announcement is made in compliance with Regulation 29 of SEBI (LODR) Regulations, 2015.

💡 No immediate action is required as this is a routine regulatory filing. Investors should monitor the financial results on February 13, 2026, for insights into the company's quarterly growth and profitability.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated operating revenue grew 8% YoY to INR 952 Cr in fiscal 2024. For the first nine months of fiscal 2025, revenue grew 8% YoY to INR 755 Cr, driven by strong Q1 performance during general elections. Radio business turnover was INR 14.16 Cr in FY 2024-25, contributing 1.41% of total turnover.

Profitability Margins

Operating margin for 9M FY2025 stood at 11.8%, compared to 9.5% in the previous year. PAT margin declined from 10.0% in FY2023 to 5.9% in FY2024 due to heavy investments in the digital segment and muted ad revenue growth.

EBITDA Margin

EBITDA margin was 14.9% in fiscal 2023, down from 26.3% in fiscal 2022. Operating profit fell to INR 86 Cr in FY2024 from INR 132 Cr in FY2023, representing a 34.8% decline due to digital segment spends.

Capital Expenditure

The company plans to purchase an immovable property in Noida for office use for approximately INR 200 Cr in the first half of fiscal 2026, funded via internal cash balances.

Credit Rating & Borrowing

Long-term rating is CRISIL AA/Negative (outlook revised from Stable on May 22, 2025). Short-term rating reaffirmed at CRISIL A1+. The company maintains nil debt and robust debt protection metrics with an interest coverage ratio of 61x in FY2024.

⚙️ Operational Drivers

Raw Materials

Content production talent and employee benefits represent the primary operational costs for the media broadcasting and digital segments.

Capacity Expansion

The company operates 4 news channels (Aaj Tak, Good News Today, Aaj Tak HD, India Today TV) and 30+ dedicated digital-first video channels. Expansion is focused on digital infrastructure and a new INR 200 Cr office in Noida.

Raw Material Costs

Not disclosed as a specific percentage of revenue, but investments in digital content and talent have significantly impacted operating profit, which fell 34.8% in FY2024.

Manufacturing Efficiency

Not applicable for media broadcasting; however, digital operations are being ramped up to offset traditional TV segment stagnation.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

Growth is targeted through digital monetization across 30+ 'Tak' branded channels, cost rationalization in non-core areas (selling radio), and leveraging the market leadership of Aaj Tak (65M+ YouTube subscribers) to capture shifting digital ad spends.

Products & Services

24-hour news broadcasting (Hindi and English), digital news content, social media video channels, and radio airtime (until divestment).

Brand Portfolio

Aaj Tak, India Today Television, Good News Today, Tak, The Lallantop, Ishq 104.8 FM.

New Products/Services

Digital-first video channels under the 'Tak' brand and 'The Lallantop' (33M+ subscribers) are expected to be the primary future revenue contributors.

Market Expansion

Expansion into digital-first content across 10 genres and 5 languages to reduce dependence on the flagship Hindi news channel.

Market Share & Ranking

Market leader in the Hindi television news segment and online news via YouTube and WhatsApp channels.

Strategic Alliances

Advertising sales agreement with Manoranjan TV to market radio airtime until the sale of the radio business is concluded by January 2026.

🌍 External Factors

Industry Trends

The industry is undergoing a massive shift from traditional television to digital and social media news consumption. TV Today is positioning itself by building a massive YouTube presence (Aaj Tak is the world's most subscribed news channel) to follow consumer behavior.

Competitive Landscape

Faces intense competition from other Hindi news broadcasters and emerging digital-only news platforms that are fragmenting ad volumes.

Competitive Moat

The brand equity of 'Aaj Tak' and 'The Lallantop' (3.3 billion views) creates a significant moat in the news segment. This leadership in audience reach is sustainable due to high network effects on digital platforms.

Macro Economic Sensitivity

Ad revenue is highly sensitive to general economic cycles and major events like general elections, which drove strong revenue in Q1 FY2025.

Consumer Behavior

Consumers are increasingly turning to online media for news, leading to a decline in traditional TV ad volumes.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to broadcasting standards and digital media regulations, though specific impacts are not detailed.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the speed of digital monetization; if the digital segment ramp-up continues to be slower than expected, it may not offset the modest performance of traditional TV, leading to sustained margin pressure.