Zee Entertainment Enterprises (ZEEL)

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Zee Entertainment Enterprises (ZEEL) · mywealthgrid

About

Zee Entertainment operates a broadcast network with leading Hindi general-entertainment and regional channels. With a market cap of ₹9,818.88 Cr and quarterly revenues of ₹1.8-2.3 Cr, it is a major player in the Indian media and communication services sector.

Founded: 1982
Face value: ₹1

Market cap

₹6,904 Cr

P/E

33.6×

P/B

0.6×

Dividend yield

2.8%

ROE

2.3%

ROCE

2.7%

Debt / equity

0.02

OPM

4.9%

EPS (TTM)

₹2.1

Book value

₹122.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin collapse to -15.97% in Mar 2026 with net loss of ₹180.9 Cr raises concerns about cost structure stability and sustainability of recent recovery
Valuation at PE 47.73 with ROE of 2.35% limits safety margin against further deterioration in profitability
FII shareholding declined sharply from 25.33% (Mar 2026) to 20.12% (Jun 2026)—assess whether this reflects sector headwinds or company-specific concerns
Broadcast advertising revenue exposure to economic cycles and advertiser spending—verify current macro environment and advertiser sentiment

Generated analysis · source review pending

Growth drivers

Profitability recovery demonstrated by Jun 2026 net profit ₹74.3 Cr following Mar 2026 loss (₹-180.9 Cr)—verify sustainability of recovery
Operating margin expansion potential: Dec 2025 reached 11.21% OPM vs. current 4.92% average, suggesting cost management capability—identify margin improvement levers
Regional channel portfolio can capture growth in regional advertising markets—verify regional market growth trends and revenue contribution by segment

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹71.9-3%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Dividend yield of 2.8%
+Dividend payout of 93.3% of profit

Cons

−Low return on equity of 3.2% (3-yr avg)
−Thin operating margin of 4.9%
−Profit declined 19.3% a year over the last 5 years
−Modest revenue growth of 0.9% a year over the last 5 years
−Low promoter holding of 4%

Research score

Structured signal from quality, growth, valuation and momentum.

37/100

Business quality: 29
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET NIFTY MEDIA

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Zee Entertainment EnterprisesZEELZEEL	₹6,904 Cr	₹7,082 Cr	₹8,181 Cr	₹259 Cr	4.9%	₹206 Cr	3.4%	2.7%	2.3%	457
D.b.corp LimitedDBCORPDBCORP	₹3,076 Cr	₹3,097 Cr	₹2,400 Cr	₹514 Cr	20.7%	₹352 Cr	14.1%	17.9%	14.1%	90
Signpost India LimitedSIGNPOSTSIGNPOST	₹1,385 Cr	₹1,581 Cr	₹591 Cr	₹149 Cr	25.5%	₹74 Cr	12.2%	31.8%	27.6%	45
Jagran Prakashan LimitedJAGRANJAGRAN	₹1,340 Cr	₹1,376 Cr	₹1,916 Cr	₹256 Cr	13.3%	₹189 Cr	9.9%	12.8%	9.9%	10
Bright Outdoor Media LtdBRIGHTBRIGHT	₹763 Cr	—	₹153 Cr	₹33 Cr	21.5%	₹24 Cr	15.7%	—	—	—
The Sandesh LimitedSANDESHSANDESH	₹752 Cr	₹752 Cr	₹824 Cr	₹9 Cr	19.6%	₹107 Cr	15%	6.8%	4.7%	437
Hindustan Media Ventures LimitedHMVLHMVL	₹571 Cr	₹637 Cr	₹822 Cr	₹83 Cr	15.2%	₹90 Cr	6.6%	11.7%	3.1%	-111
Ht Media LimitedHTMEDIAHTMEDIA	₹521 Cr	₹1,183 Cr	₹1,896 Cr	₹125 Cr	7.2%	₹-10 Cr	-2.7%	9.4%	-3.3%	-73
Onmobile Global LimitedONMOBILEONMOBILE	₹519 Cr	₹586 Cr	₹514 Cr	₹-26 Cr	-4.1%	₹-56 Cr	-2.2%	-0.2%	-1.8%	-187
R K Swamy LimitedRKSWAMYRKSWAMY	₹437 Cr	₹437 Cr	₹347 Cr	₹46 Cr	12.8%	₹23 Cr	6.5%	12.4%	8.6%	-146
Novus Loyalty LtdNOVUSNOVUS	₹341 Cr	₹341 Cr	₹127 Cr	₹12 Cr	9.7%	₹9 Cr	7.3%	19.8%	15.1%	19
Quint Digital LimitedQUINTQUINT	₹324 Cr	₹477 Cr	₹32 Cr	₹-18 Cr	-56.1%	₹-33 Cr	-104.7%	3.7%	-14.7%	34

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,813	6,434	6,686	7,934	8,130	7,730	8,189	8,088	8,637	8,294	8,099
COGS	—	—	0	3,076	0	0	0	0	0	0	4,859
Gross profit	—	—	—	4,858	—	—	—	—	—	—	3,240
	—	—	4,615	2,293	6,757	6,136	6,471	6,981	7,726	7,082	2,841
	—	—	2,071	2,565	1,373	1,594	1,718	1,107	911	1,213	399
OPM %	—	—	31%	32.3%	16.9%	20.6%	21%	13.7%	10.6%	14.6%	4.9%
Depreciation	78	115	182	235	271	265	246	313	309	279	217
Interest	160	137	145	130	145	57	45	70	72	33	45
	195	224	575	251	-1	-16	-12	-459	-207	17	137
Profit before tax	1,373	2,901	2,319	2,465	956	1,256	1,416	264	323	918	274
Tax	—	—	841	854	432	463	460	217	182	239	2
Tax %	—	—	36.3%	34.6%	45.1%	36.8%	32.5%	81.9%	56.3%	26%	0.8%
	824	2,221	1,478	1,611	525	793	956	48	141	680	271
PAT margin %	14.2%	34.5%	22.1%	20.3%	6.5%	10.3%	11.7%	0.6%	1.6%	8.2%	3.4%
EPS (₹)	8.6	23.1	15.4	16.3	5.5	8.3	10	0.5	1.5	7.1	2.8
EPS adjusted (₹)	8.6	23.1	15.4	16.8	5.5	8.3	10	0.5	1.5	7.1	2.8
	26.3%	10.8%	18.8%	21.4%	5.5%	30%	29.9%	0%	68%	34.3%	70.9%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	96	96	96	96	96	96	96	96	96	96	96
Reserves	4,076	6,594	7,466	8,828	9,248	9,999	10,767	10,626	10,777	11,437	11,634
Minority interest	2	1	14	14	11	13	—	—	—	—	—
	—	—	—	743	350	386	4	6	6	160	178
	2,843	3,566	3,554	3,252	2,669	2,326	2,373	3,001	2,571	2,041	2,308
Total equity & liabilities	7,017	10,258	11,130	12,933	12,374	12,819	13,240	13,728	13,450	13,734	14,216
	1,079	801	1,321	1,259	1,235	1,139	1,117	1,310	1,155	957	859
CWIP	88	127	78	108	33	13	5	19	9	1	4
Investments	964	17	20	1,132	405	850	173	85	88	1,243	1,322
	4,887	9,313	9,712	10,434	10,701	10,816	11,945	12,315	12,198	11,533	12,032
Total assets	7,017	10,258	11,130	12,933	12,374	12,819	13,240	13,728	13,450	13,734	14,216

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	61.2%	—	—	—	—	—	—	40%
EBITDA margin %	32.3%	16.9%	20.6%	21%	13.7%	10.6%	14.6%	4.9%
EBIT margin %	29.3%	13.6%	17.2%	18%	9.8%	7%	11.3%	2.2%
PAT margin %	20.3%	6.5%	10.3%	11.7%	0.6%	1.6%	8.2%	3.4%
Working capital
Receivable days	84	94	92	77	73	72	67	78
Inventory days	457	289	321	360	382	327	349	489
Payable days	177	91	83	77	91	68	0	110
NWC days	364	292	330	360	363	331	417	457
Leverage
Current ratio	3.46	3.99	4.2	5.03	4.27	4.96	6.56	5.59
Debt to EBITDA	0.29	0.25	0.24	0	0.01	0.01	0.13	0.45
Debt to equity	0.08	0.04	0.04	0	0	0	0.01	0.02
Interest coverage	19.8	9.6	25.2	35.3	12.4	10.1	32.3	7.3
Asset turnover	0.61	0.66	0.6	0.62	0.59	0.64	0.6	0.57
Return ratios
Return on assets %	12.5%	4.2%	6.2%	7.2%	0.3%	1.1%	4.9%	1.9%
Return on capital employed %	27.5%	14%	14.3%	15%	7.9%	6.6%	9.1%	2.7%
Return on equity %	18.1%	5.6%	7.9%	8.8%	0.4%	1.3%	5.9%	2.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3.99%	3.99%	3.99%	3.99%	3.99%	3.99%	3.99%	3.99%	3.99%	3.99%	3.99%	3.99%
	35%	28.19%	19.18%	18.91%	18.52%	20.05%	22.83%	24.81%	25.42%	24.21%	25.33%	20.12%
	42.23%	43.59%	35.56%	22.51%	19.19%	17.99%	16.01%	16.86%	13.92%	11.99%	10.79%	7.82%
	0%	0%	0%	0%	0%	0%	0%	0%	0.11%	0.11%	0.11%	0.1%
	18.78%	24.23%	41.27%	54.59%	58.3%	57.97%	57.17%	54.34%	56.56%	59.7%	59.78%	67.97%
No. of shareholders	—	—	—	—	—	—	—	—	6,43,042	6,45,830	6,25,207	6,20,227

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 8 fund houses

Held by these funds

0.41%

of the company's equity

All mutual funds

3.16%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

25 schemes · 8 fund houses

		Shares
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	14.63 L	13.69	0.39%	0.152%	+17,893
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	7.44 L	6.96	0.39%	0.077%	+8,318
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	5.39 L	5.05	0.39%	0.056%	+4,894
Nifty Smallcap 250 Index Fund	ICICI Prudential Mutual Fund	3.28 L	3.07	0.39%	0.034%	+6,717
Nifty500 Value 50 Index Fund	Axis Mutual Fund	2.09 L	1.96	0.83%	0.022%	+4,729
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.46 L	1.37	0.04%	0.015%	+5,022
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.05 L	0.99	0.39%	0.011%	-5,768
Nifty 500 Equal Weight Index Fund	Nippon India Mutual Fund	1.02 L	0.95	0.18%	0.011%	+51

1–8 of 25

1 / 4

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

44 announcementsExport CSV

28 Sept 2026, 4:46 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	61.2%	—	—	—	—	—	—	40%
EBITDA margin %	32.3%	16.9%	20.6%	21%	13.7%	10.6%	14.6%	4.9%
EBIT margin %	29.3%	13.6%	17.2%	18%	9.8%	7%	11.3%	2.2%
PAT margin %	20.3%	6.5%	10.3%	11.7%	0.6%	1.6%	8.2%	3.4%
Working capital
Receivable days	84	94	92	77	73	72	67	78
Inventory days	457	289	321	360	382	327	349	489
Payable days	177	91	83	77	91	68	0	110
NWC days	364	292	330	360	363	331	417	457
Leverage
Current ratio	3.46	3.99	4.2	5.03	4.27	4.96	6.56	5.59
Debt to EBITDA	0.29	0.25	0.24	0	0.01	0.01	0.13	0.45
Debt to equity	0.08	0.04	0.04	0	0	0	0.01	0.02
Interest coverage	19.8	9.6	25.2	35.3	12.4	10.1	32.3	7.3
Asset turnover	0.61	0.66	0.6	0.62	0.59	0.64	0.6	0.57
Return ratios
Return on assets %	12.5%	4.2%	6.2%	7.2%	0.3%	1.1%	4.9%	1.9%
Return on capital employed %	27.5%	14%	14.3%	15%	7.9%	6.6%	9.1%	2.7%
Return on equity %	18.1%	5.6%	7.9%	8.8%	0.4%	1.3%	5.9%	2.3%

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Shreyasi GoenkaImmediate relative	BuyMarket Purchase	41,970	₹48.84 L	0.23% → 0.24%	19 Sept 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

218 deals · 14 Sept 2021 – 31 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
31 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Buy	55,83,831	₹92.85	₹51.85 Cr
31 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Sell	55,21,625	₹92.78	₹51.23 Cr
31 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	54,17,008	₹92.11	₹49.90 Cr
31 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	53,01,101	₹92.86	₹49.23 Cr
14 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Sell	50,92,545	₹102.04	₹51.96 Cr
14 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Buy	48,84,905	₹102.50	₹50.07 Cr
16 Jul 2026	SUDESH IT SOLUTIONS LLP	Bulk	NSE	Buy	50,00,000	₹104.63	₹52.32 Cr
16 Jul 2026	SUDESH IT SOLUTIONS LLP	Bulk	NSE	Sell	45,00,000	₹104.90	₹47.21 Cr
12 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	48,84,404	₹111.85	₹54.63 Cr
12 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	47,75,931	₹112.55	₹53.75 Cr

1–10 of 218

1 / 22

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
28 Sept 2026, 4:46 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
17 Sept 2026, 9:09 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
17 Sept 2026, 9:06 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
7 Sept 2026, 5:43 pm	Company Update General	Clarification On The News Item Appearing In Www.Businesstoday.In	PDF
7 Sept 2026, 2:46 pm	Company Update Clarification	Clarification sought from Zee Entertainment Enterprises Ltd	—
1 Sept 2026, 10:34 am	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
31 Aug 2026, 5:59 pm	Company Update General	General Update	PDF
31 Aug 2026, 12:03 pm	Company Update General	Submission Of Certificate Obtained From Statutory Auditors In Terms Of Regulation 169(5) Of The Securities And Exchange Board Of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018 ('ICDR Regulations')	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	731	741	554	135	250	1,548	272	129	714	1,186	708
	17	1,397	-1,050	866	389	-506	586	-202	-47	-1,604	-299
	-405	-414	-1,090	-966	-1,062	-541	-715	-408	-274	23	-339
Net cash flow	—	—	—	35	-423	501	142	-481	393	-395	70
Free cash flow	423	508	380	-62	169	1,487	188	1	638	1,101	572
CFO / Operating profit %	—	—	26.8%	5.3%	18.2%	97.1%	15.8%	11.7%	78.4%	97.9%	177.6%

Zee Entertainment Enterprises

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

21

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Zee Entertainment Enterprises

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Ratio timeline

Announcements

Quarterly record

Annual reports

Investor Presentation and earnings call

Dividends21

Board meetings1

Bonus issues1

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

21

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