Zee Entertainment Enterprises Limited · NSE:ZEEL
Zee Entertainment Enterprises — Q3 FY26 Earnings Presentation
17 slides from Zee Entertainment Enterprises's earnings presentation, Jan 22, 2026
Slide 1: Exchange intimation: audio recording of conference call
January 22, 2026 To, The Listing Department, The Listing Department, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort Bandra-Kurla Complex, Mumbai - 400 001 Bandra (East), Mumbai- 400 051 BSE Scrip Code Equity: 505537 NSE Symbol: ZEEL
Slide 2: Earnings Update for 9M & Q3 FY26
Earnings Update for 9M & Q3 FY26 22 January 2026 Zee Entertainment Enterprises Limited
Slide 3: Disclaimer
Disclaimer Safe Harbor Statement: This Release/Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and
Slide 4: 9M & Q3 FY26 Key Performance Highlights
9M & Q3 FY26 Key Performance Highlights Effective cost management drives profitability Maintaining healthy balance sheet 15% 10.5% Rs 21.8 Bn YoY growth in Operating Revenue; EBITDA Margin; Cash and Cash Q3 FY26 Operating Revenue of Rs 22,801 Mn Q3 FY26 EBITDA of Rs 2,405 Mn Equivalent as of Dec’25
Slide 5: Domestic Linear: TV Landscape Remains Stable
Domestic Linear: TV Landscape Remains Stable ‘Z’ Network Share Grew 60 bps YoY, aided by Hindi & Language markets Industry TV Reach and Impressions ‘Z’ Network Share Weekly Reach (Mn) Weekly Impressions (Bn) 17.8% 17.5% 16.8% 17.1% 16.8% 16.9% 746 749 737 29.0 28.8 28.7 Total TV viewership remains s
Slide 6: ZEE5: In-line to Achieve Breakeven
: In-line to Achieve Breakeven ➢ Registered highest ever Quarterly Revenue and EBITDA Q3 FY26 revenues Key ➢ Stable usage and engagement metrics during the quarter up 73% YoY Highlights ➢ Expect momentum in performance improvement (YoY) to sustain driven by Total Revenue (Rs Mn) growth and operating
Slide 7: Hindi and Other Language Movies Released During Q3 FY26
: 1 Hindi and 7 Other Language Movies Released During Q3 FY26 Acquisition of Theatrical & Distributed by Produced & Distributed by Distributed by satellite rights by Zee Studios Zee Studios Zee Studios Zee Studios Other Hindi Language Movies Movies Distributed by Zee Studios Distributed by Produced
Slide 8: Music Label with ~175 Mn Subscribers on YouTube
: Music Label with ~175 Mn Subscribers on YouTube Q3 FY26 Key Catalogue Additions All ZMC YouTube Channels Video Views & Subscribers Count 54 51 43 172 175 160 Q3 FY25 Q2 FY26 Q3 FY26 Total Subs count (Mn) Total Video Views during the Quarter (Bn) Language Wise Songs Released in Q3 FY26 Zee Music Co
Slide 9: Key ESG Highlights: S&P Global ESG Score
Key ESG Highlights: S&P Global ESG Score Placed us in the 96th Percentile Across the Media, Movies & Entertainment S&P Global ESG score in CSA 51 Transforming Rural India 44 • ‘Z’ achieved a high score of 51 out of 100 S&P Global ESG Corporate Sustainability 28 Assessment 2025 in Media, Movies and E
Slide 10: 9M & Q3 FY26 Financial Performance
9M & Q3 FY26 Financial Performance
Slide 11: 9M FY26 EBITDA Margin 10.1%; Soft Advertising Environment Impacts Profitability
9M FY26 EBITDA Margin 10.1%; Soft Advertising Environment & Higher A&P Impacts Profitability Operating Revenue Breakup (Rs Mn) (INR Million) 9M FY25 9M FY26 YoY Operating Revenue 61,100 60,741 -1% Advertising Subscription Other Sales & Services Expenditure -51,990 -54,592 5% YoY 12% 4% 45% EBITDA 9,
Slide 12: Q3 FY26 Operating Revenue up 15% YoY
Q3 FY26 Operating Revenue up 15% YoY driven by Subscription and Other sales & Services; Higher Operating Cost due to Acquisition of Movie Rights and Shift in ILT20 League Matches Operating Revenue Breakup (Rs Mn) (INR Million) Q3 FY25 Q2 FY26 Q3 FY26 QoQ YoY Advertising Subscription Other Sales & Se
Slide 13: Q3 FY26: Effectively Navigated Soft Advertising Environment
Q3 FY26: Effectively Navigated Soft Advertising Environment by Focused Execution Advertising • Slowdown in FMCG spending impacted domestic advertising revenue down by 10% YoY. revenues • Domestic advertising environment remains soft; hopeful of revival in brand building spends. Subscription • Increa
Slide 14: Condensed Balance Sheet
Condensed Balance Sheet Assets (INR Million) Mar’25 Dec'25 Liabilities (INR Million) Mar’25 Dec'25 Non-Current Assets Equity Capital 1,15,224 1,17,574 Fixed assets 10,059 9,292 Non-Current Liabilities Investments 383 322 Lease Liab/Other borrowings 2,398 2,056 Other financial assets 1,145 1,274 Prov
Slide 15: Cash & Treasury Investments as of Dec'25 at Rs 21,837 Mn
The Cash & Treasury Investments as of Dec’25 stood at Rs 21,837 Mn S.No Particulars (INR Million) Dec-25 Mutual Fund Investments (A) 1 HDFC Ultra Short-Term Fund - Direct Plan Growth 3,857 2 SBI Magnum Ultra Short Duration Fund - Direct Plan Growth 1,793 3 Tata Ultra Short-Term Fund- Direct Plan Gro
Slide 16: Content Inventory and Advances Continues to Decline in 9M FY26
Content Inventory and Advances Continues to Decline in 9M FY26 Driven by Optimised Acquisition and Releases Rs 79.6 Bn Decreased by Rs 1.2 Bn during 9M FY26 Rs 72.5 Bn Rs 74.2 Bn Rs 70.5 Bn Rs 70.2 Bn Rs 69.9 Bn Rs 69.3 Bn 8% 7% 4% 4% 4% 4% 12% Content Advances 12% 13% 13% 13% 11% 13% 16% 13% 12% 12
Slide 17: Yours Truly
Yours Truly
Zee Entertainment Enterprises — Q3 FY26 Earnings Presentation on 6ix