Zee Entertainment Enterprises Limited · NSE:ZEEL
Zee Entertainment Enterprises — Q4 FY26 Earnings Presentation
20 slides from Zee Entertainment Enterprises's earnings presentation, May 19, 2026
Slide 1: Cover letter to stock exchanges: Earning Release
May 19, 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 EQ
Slide 2: Earnings Update for Q4 FY26 & FY26
Earnings Update for Q4 FY26 & FY26 19 May 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: FY26 Key Performance Highlights
FY26 Key Performance Highlights Investing for long-term growth Maintaining healthy balance sheet Rs 80,989 Mn 9.3% Rs 27.6 Bn FY26 Operating Revenue Adjusted EBITDA Margin*; Cash and Cash FY26 Adjusted EBITDA* of Rs 7,547 Mn Equivalent as of Mar’26 ‘Z’ Network gains share across Hindi and ‘Z’ Digita
Slide 5: ZEE5: Delivered Positive EBITDA (Adj.) in FY26
: Delivered Positive EBITDA (Adj.) in FY26 ➢ Registered highest ever Quarterly Revenue FY26 revenue up 53% YoY Key ➢ Stable usage and engagement metrics during the quarter Q4 FY26 revenues up Highlights ➢ 45 shows and movies released during the quarter including 11 originals 71% YoY Total Revenue (R
Slide 6: Domestic Linear: TV Landscape Remains Stable
Domestic Linear: TV Landscape Remains Stable ‘Z’ Network Share Grew 80 bps YoY, aided by Hindi & Language markets Industry TV Reach and Impressions ‘Z’ Network Share Weekly Reach (Mn) Weekly Impressions (Bn) 17.1% 17.4% 17.5% 17.4% 16.8% 16.8% 16.6% 757 750 29.4 741 28.7 28.4 Total TV viewership rem
Slide 7: Hindi and Other Language Movies Released During Q4 FY26
: 7 Hindi and 6 Other Language Movies Released During Q4 FY26 Produced & Distributed by Produced & Distributed by Distributed by Distributed by Distributed by Produced & Distributed by Digital Released (Zee5) Zee Studios Zee Studios Zee Studios Zee Studios Zee Studios Zee Studios Hindi Other Movies
Slide 8: Music Label with ~176 Mn Subscribers on YouTube
: Music Label with ~176 Mn Subscribers on YouTube Q4 FY26 Key Catalogue Additions All ZMC YouTube Channels Video Views & Subscribers Count 217 190 165 119 66 176 164 149 134 117 FY22 FY23 FY24 FY25 FY26 Total Subs count (Mn) Total video views during the year (Bn) Language Wise Songs Released in FY26
Slide 9: Strategic Initiatives Undertaken in FY26
Strategic Initiatives Undertaken in FY26
Slide 10: 'Z' Business Initiatives
‘Z’ Business Initiatives Building specialised teams to ‘Z’ Monthly Reach in Million Increased viewership share on cater to Retail/SME/MSME Transforming Content [TV Shows, Digital Shows, Movies] the back of exciting content advertisers into a cross-platform revenue engine • Growth through a strong li
Slide 11: 'Z' New Initiatives
‘Z’ New Initiatives Micro Drama (Short form video) Focused on Designed as a safe, 12 Teams 4.6+ children in the "mom-approved" The league featured Rated on both Google Play 10M+ 6-16 age group digital space, it includes 66 matches Downloads since launch animated shows, movies, and 120% growth and Ap
Slide 12: Key ESG Highlights
Key ESG Highlights: S&P Global ESG Score Placed us in the 96th Percentile Across the Media, Movies & Entertainment; NSE Sustainability Ratings & Analytics Rating Category Placed ‘Z’ as Leader S&P Global ESG score in CSA 51 44 • ‘Z’ achieved a high score of 51 out of 100 S&P Global ESG Corporate Sust
Slide 13: FY26 & Q4 FY26 Financial Performance
FY26 & Q4 FY26 Financial Performance
Slide 14: FY26 Adjusted EBITDA Margin at 9.3%; Weak Ad Environment & Higher A&P Impacts Profitability
FY26 Adjusted EBITDA Margin at 9.3%; Weak Ad Environment & Higher A&P Impacts Profitability Operating Revenue Breakup (Rs Mn) (INR Million) FY25 FY26 YoY Operating Revenue 82,941 80,989 -2% Advertising Subscription Other Sales & Services Expenditure -70,979 -77,526 9% EBITDA 11,962 3,463 -71% YoY 10
Slide 15: Q4 FY26 Operating Revenue down 11% YoY; Ad Revenue Impacted by Middle East Crisis
Q4 FY26 Operating Revenue down 11% YoY; Ad Revenue Impacted by Middle East Crisis Operating Revenue Breakup (Rs Mn) (INR Million) Q4 FY25 Q3 FY26 Q4 FY26 QoQ YoY Operating Revenue 21,841 22,801 20,248 -11% -7% Advertising Subscription Other Sales & Services Expenditure -18,989 -20,396 -22,934 12% 21
Slide 16: Q4 FY26: Continued momentum in Digital business
Q4 FY26: Continued momentum in Digital business Advertising • Domestic advertising revenue witnessed healthy traction in Jan & Feb revenues • Impacted in March due to ongoing Middle East Crisis; overall revenue down 3% YoY Subscription • Growth aided by subscriber additions in digital & higher ARPU
Slide 17: Condensed Balance Sheet
Condensed Balance Sheet Assets (INR Million) Mar’25 Mar’26 Liabilities (INR Million) Mar’25 Mar’26 Non-Current Assets Equity Capital 1,15,224 1,17,281 Fixed assets 10,059 9,114 Non-Current Liabilities Investments 383 445 Lease Liab/Other borrowings 2,398 1,941 Other financial assets 1,145 547 Provis
Slide 18: The Cash & Treasury Investments as of Mar'26 stood at Rs 27,595 Mn
The Cash & Treasury Investments as of Mar’26 stood at Rs 27,595 Mn S.No Particulars (INR Million) Mar-26 Mutual Fund Investments (A) 1 HDFC Ultra Short-Term Fund - Direct Plan Growth 3,986 2 SBI Magnum Ultra Short Duration Fund - Direct Plan Growth 1,817 3 Tata Ultra Short-Term Fund- Direct Plan Gro
Slide 19: Content Inventory and Advances Declined in FY26
Content Inventory and Advances Declined in FY26 Rs 79.6 Bn Decreased by Rs 2.8 Bn Rs 72.5 Bn Rs 74.2 Bn during FY26 Rs 70.5 Bn Rs 67.6 Bn 8% 7% 4% 4% 12% Content Advances 12% 13% 11% 13% 16% 13% 13% 14% 14% Movies Production, Music & 14% Others Shows 72% 71% 64% 64% 64% Movies Rights FY22 FY23 FY24
Slide 20: Yours Truly
Yours Truly
Zee Entertainment Enterprises — Q4 FY26 Earnings Presentation on 6ix