CMRSL revenue rises 20.62% to ₹91.60 crore in FY26
Cyber Media Research & Services Limited achieved record revenue of ₹91.60 crore in FY26, a 20.62% YoY increase, with EBITDA rising 45.06% to ₹5.42 crore. PAT reached ₹3.48 crore, and EPS improved to ₹11.89. The merger with CMIL is under SEBI review, with completion expected between December 2026 and March 2027.
*this image is generated using AI for illustrative purposes only.
Cyber Media Research & Services Limited delivered its best-ever financial performance in FY26, recording a 20.62% year-on-year revenue increase to ₹91.60 crore. The company’s EBITDA grew 45.06% to ₹5.42 crore, while profit after tax (PAT) stood at ₹3.48 crore. This growth outpaced the industry adex increase of 12% reported by PMAR.
The strong financial results were driven by robust performance across all business segments. The market research business grew over 40%, while the domestic business increased by 25.7%. Earnings per share (EPS) rose to ₹11.89 as on March 31, 2026, compared to ₹7.91 in the previous year. The debt-equity ratio improved to 0.26 times from 0.35 times, and the debtors-turnover ratio reduced to 123 days from 124 days.
Financial Performance
The company’s Q4FY26 revenue stood at ₹25.60 crore, compared to ₹18.59 crore in the corresponding period of the previous year. EBITDA for the quarter jumped to ₹1.35 crore from ₹81.28 lakh.
| Metric | FY26 | FY25 |
|---|---|---|
| Revenue | ₹91.60 crore | - |
| EBITDA | ₹5.42 crore | - |
| PAT | ₹3.48 crore | - |
| EPS | ₹11.89 | ₹7.91 |
| Debt-Equity Ratio | 0.26 times | 0.35 times |
Business Segment Growth
The advertising business contributed approximately 50% of the total revenue, growing about 10% compared to the previous financial year. The CMR and data analytics business contributed 15-20%, while the publisher monetization business accounted for the remaining 30-35%. All three verticals reported double-digit growth.
In the digital marketing business, the company added more than 50 logos during the year. The CMGalaxy SaaS product initiated its go-to-market strategy, onboarding 12 new logos primarily in the D2C and education sectors. The company also deployed AI tools across functions including finance, sales, and operations to enhance productivity.
Merger Update and Outlook
The merger application with CMIL was forwarded to SEBI in the last week of March 2026. The company has addressed queries raised during April and May 2026, and the application is currently under active review. Completion is anticipated between December 2026 and March 2027, subject to regulatory approvals.
Regarding receivables, trade receivables increased by 29.05% to ₹34.52 crore from ₹26.75 crore. However, the number of sales outstanding days improved to 123 days from 124 days. The company stated it maintains the same working capital cycle with zero cash flow concerns.
Historical Stock Returns for Cyber Media Research & Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -0.72% | -9.92% | -6.44% | -10.56% | -76.85% |
How will the proposed merger with CMIL alter the company's competitive positioning and revenue mix once finalized between December 2026 and March 2027?
Can the 40% growth in the market research segment be sustained, or is it expected to normalize closer to the industry adex growth of 12% in the coming year?
What is the projected revenue contribution from the new CMGalaxy SaaS product and the 50+ digital marketing clients acquired in FY26?
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