News Details

Results - Analysis

Zee Entertainment Enterprises

09-May-25 05:38

On consolidated basis

Quarter ended March 2025 compared with Quarter ended March 2024.

Net sales (including other operating income) of Zee Entertainment Enterprises has increased 0.65% to Rs 2184.1 crore.

Operating profit margin has jumped from 9.69% to 13.63%, leading to 41.63% rise in operating profit to Rs 297.70 crore. Employee cost decreased from 11.76% to 10.53%. Other expenses fell from 78.55% to 75.84%. Selling and administration expenses rose from 12.18% to 13.74%. Other direct service cost fell from 59.13% to 58.69%.

Other income rose 135.06% to Rs 36.2 crore. PBIDT rose 48.01% to Rs 333.9 crore. Provision for interest rose 17.39% to Rs 8.1 crore. Loan funds rose to Rs 320.90 crore as of 31 March 2025 from Rs 230.30 crore as of 31 March 2024. Inventories declined from Rs 6,912.90 crore as of 31 March 2024 to Rs 6,774.80 crore as of 31 March 2025. Sundry debtors were lower at Rs 1,532.50 crore as of 31 March 2025 compared to Rs 1,701.60 crore as of 31 March 2024. Cash and bank balance rose to Rs 1,250.00 crore as of 31 March 2025 from Rs 1,193.20 crore as of 31 March 2024. Investments rose to Rs 1,194.70 crore as of 31 March 2025 from Rs 39.10 crore as of 31 March 2024 .

PBDT rose 48.97% to Rs 325.8 crore. Provision for depreciation fell 17.23% to Rs 63.9 crore. Fixed assets declined from Rs 883.40 crore as of 31 March 2024 to Rs 675.60 crore as of 31 March 2025. Intangible assets increased from Rs 330.30 crore to Rs 330.40 crore.

Profit before tax grew 85.09% to Rs 261.90 crore. Provision for tax was expense of Rs 73.4 crore, compared to Rs 101.8 crore. Effective tax rate was 28.02% compared to 89.30%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 1,445.90% to Rs 188.60 crore.

Equity capital stood at Rs 96.10 crore as of 31 March 2025 to Rs 96.10 crore as of 31 March 2024. Per share face Value remained same at Rs 1.00.

Promoters' stake was 3.99% as of 31 March 2025 ,compared to 3.99% as of 31 March 2024 . Promoters pledged stake was 5.38% as of 31 March 2025 ,compared to 5.38% as of 31 March 2024 .

Full year results analysis.

Net sales (including other operating income) of Zee Entertainment Enterprises has declined 3.97% to Rs 8294.1 crore.

Operating profit margin has jumped from 10.55% to 14.61%, leading to 33.05% rise in operating profit to Rs 1,212.10 crore. Employee cost decreased from 11.80% to 11.17%. Other expenses fell from 77.66% to 74.21%. Selling and administration expenses rose from 12.36% to 13.82%. Other direct service cost fell from 58.34% to 54.46%.

Other income fell 4.56% to Rs 123.4 crore. PBIDT rose 28.38% to Rs 1335.5 crore. Provision for interest fell 54.65% to Rs 32.7 crore. Loan funds rose to Rs 320.90 crore as of 31 March 2025 from Rs 230.30 crore as of 31 March 2024. Inventories declined from Rs 6,912.90 crore as of 31 March 2024 to Rs 6,774.80 crore as of 31 March 2025. Sundry debtors were lower at Rs 1,532.50 crore as of 31 March 2025 compared to Rs 1,701.60 crore as of 31 March 2024. Cash and bank balance rose to Rs 1,250.00 crore as of 31 March 2025 from Rs 1,193.20 crore as of 31 March 2024. Investments rose to Rs 1,194.70 crore as of 31 March 2025 from Rs 39.10 crore as of 31 March 2024 .

PBDT rose 34.56% to Rs 1302.8 crore. Provision for depreciation fell 9.90% to Rs 278.5 crore. Fixed assets declined from Rs 883.40 crore as of 31 March 2024 to Rs 675.60 crore as of 31 March 2025. Intangible assets increased from Rs 330.30 crore to Rs 330.40 crore.

Profit before tax grew 55.41% to Rs 1,024.30 crore. Extraordinary items were increased to Rs -98.60 crore. Provision for tax was expense of Rs 238.7 crore, compared to Rs 181.9 crore. Effective tax rate was 25.77% compared to 47.73%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 245.08% to Rs 687.40 crore.

Equity capital stood at Rs 96.10 crore as of 31 March 2025 to Rs 96.10 crore as of 31 March 2024. Per share face Value remained same at Rs 1.00.

Promoters' stake was 3.99% as of 31 March 2025 ,compared to 3.99% as of 31 March 2024 . Promoters pledged stake was 5.38% as of 31 March 2025 ,compared to 5.38% as of 31 March 2024 .

Cash flow from operating activities increased to Rs 1,186.00 crore for year ended March 2025 from Rs 714.40 crore for year ended March 2024. Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 91.60 crore, compared to Rs 130.50 crore during the year ended March 2024.

Operational highlights:

Domestic advertising revenue declined by 27% YoY for the quarter due to slowdown in macro advertising environment , postponement of Zee Cine Award, busy sports calendar and higher base in Q4 FY24.

Subscription revenue YoY Growth driven by both Linear subscription revenue and ZEE5.

Other sales and services up YoY due to higher number of movie released and higher syndication revenue..

International revenue break-up: Q4FY2025 advertisement revenue stood at Rs 58.9 crore, subscription revenue stood at Rs 101.0 crore and other sales and service revenue stood at Rs 52.1 crore.

Dividend: The Board has recommended dividend of Rs. 2.43/- per equity share of Re. 1/- each for the financial year 2024-25.

Zee Entertainment Enterprises : Consolidated Results

	Quarter ended			Year ended
Particulars	202503	202403	Var.(%)	202503	202403	Var.(%)
Net Sales (including other operating income)	2,184.10	2,169.90	0.65	8,294.10	8,637.20	-3.97
OPM (%)	13.63	9.69	394 bps	14.61	10.55	407 bps
OP	297.70	210.20	41.63	1,212.10	911.00	33.05
Other Inc.	36.20	15.40	135.06	123.40	129.30	-4.56
PBIDT	333.90	225.60	48.01	1,335.50	1,040.30	28.38
Interest	8.10	6.90	17.39	32.70	72.10	-54.65
PBDT	325.80	218.70	48.97	1,302.80	968.20	34.56
Depreciation	63.9	77.2	-17.23	278.5	309.1	-9.90
PBT	261.90	141.50	85.09	1024.3	659.1	55.41
Share of Profit/(Loss) from Associates	0.1	0.1	0	0.4	0.4	0
PBT before EO	262	141.6	85.03	1024.7	659.5	55.38
EO Income	0	-27.6	-	-98.6	-278.4	64.58
PBT after EO	262	114	129.82	926.1	381.1	143.01
Taxation	73.4	101.8	-27.90	238.7	181.9	31.23
PAT	188.6	12.2	1,445.90	687.4	199.2	245.08
Minority Interest (MI)	0	0	-	0	0	-
Net profit	188.6	12.2	1,445.90	687.4	199.2	245.08
P/(L) from discontinued operations net of tax	-0.2	1.2	PL	-7.9	-57.8	86.33
Net profit after discontinued operations	188.4	13.4	1,305.97	679.5	141.4	380.55
EPS (Rs)*	1.96	0.16	1,146.53	7.92	3.59	120.73

* EPS is on current equity of Rs 96.05 crore, Face value of Rs 1, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database