Zee Entertainment

Zee Entertainment Enterprises Limited has issued a postal ballot notice seeking shareholder approval to appoint R Gopalan as Non-Executive, Non-Independent Director. Gopalan has served as Independent Director since November 2019 and his second term expires on November 24, 2025. The Board approved his appointment as Additional Director effective November 25, 2025, based on Nomination & Remuneration Committee's recommendation. Gopalan, 73, holds degrees from Harvard University and Boston University, with over 40 years of experience including positions as Secretary in Finance Ministry departments. He has served as Board Chairman for 6 years and holds directorships in multiple listed companies including Sundaram-Clayton Limited, TVS Holdings Limited, and Vedanta Limited. The remote e-voting period runs from October 30 to November 28, 2025, with results to be announced by November 29, 2025. National Securities Depository Limited will provide the e-voting facility, with Vinita Nair appointed as Scrutinizer for the voting process.

Zee Entertainment Enterprises reported quarterly results with advertising revenue declining 11% year-over-year but growing 6% sequentially, driven by FMCG sector spending. The company's network share increased to 17.8%, gaining 100 basis points quarter-over-quarter, with 7 channels achieving leadership positions in their respective markets. ZEE5 digital platform recorded highest quarterly revenue crossing INR 3,000 million with 32% year-over-year growth, reducing EBITDA losses by over 80% to INR 312 million. The company launched tailored subscription plans in seven languages and introduced new content across platforms. Operating costs increased 9% year-over-year due to higher programming and advertising expenses from new show launches and two new GEC channels in Kannada and Bangla markets. EBITDA margins compressed to 7.4% during the quarter. Cash and treasury investments stood at INR 21.1 billion as of September 2025. Management expressed cautious optimism for the second half, expecting cost stabilization and revenue uptick from festive season spending and recent GST reforms. The company is pursuing an omnichannel content strategy and exploring new segments including short-form content.

Zee Entertainment has revised its advertising revenue growth estimate downward from the previously projected 6-8% due to weak performance in the first half. The company indicated it may not achieve its earlier margin guidance of 18-20% citing current market conditions. While management avoided providing specific guidance for H2 FY26, they expressed optimism for progress, pointing to the upcoming festive season and improved network share as positive factors.