Kiran Kumar Jain M. disposed of 4,70,848 shares in Raj Television Network Limited on September 7, 2026, via an open market transaction.

The sale reduced his total holding in the company from 11.43% to 10.524% of the total share capital. The disposal represents a reduction of 0.906% in his voting rights stake.

Transaction Details

The seller, who is not part of the promoter group, executed the sale through the open market. No encumbrances, pledges, or liens were reported on the shares sold or held prior to the transaction.

Regulatory Disclosure

The transaction was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to the Bombay Stock Exchange Limited by Kiran Kumar Jain M., based in Chennai.

Raj Television Network Limited has an equity share capital of ₹25.96 crore. The company is listed on both the Bombay Stock Exchange and the National Stock Exchange of India.

Raj Television Network returned to profitability in FY26, reporting a net profit after tax (PAT) of ₹79.12 crore, a significant turnaround from a loss of ₹210.13 crore in the previous year. The company scheduled its 32nd Annual General Meeting for September 30, 2026, to approve these financial results and key board resolutions.

The return to profit was driven by disciplined cost management rather than top-line growth. Total revenue declined 44% year-on-year to ₹700.45 crore from ₹1,258.21 crore in FY25. Despite the revenue contraction, operating efficiency improved markedly, with EBITDA rising to ₹41.12 crore from a negative ₹197.13 crore in the prior period.

Financial Performance

The company’s focus on reducing expenditures helped stabilize its bottom line. Operating expenses were cut significantly, contributing to a positive EBITDA margin of 5.87%. Finance costs also decreased to ₹27.52 crore from ₹37.83 crore as long-term borrowings were reduced.

Debt levels saw a notable reduction, with total borrowings falling to ₹205.92 crore as on March 31, 2026, compared to ₹261.02 crore a year earlier. Long-term debt specifically dropped by nearly 40% to ₹78.00 crore. This deleveraging effort improved the debt-equity ratio to 0.37 from 0.53.

AGM Details

Shareholders will vote on several special resolutions at the upcoming AGM. Key items include:

• Re-appointment of Mrs. Bharathi Sridhar as an Independent Director for a second five-year term.
• Ratification of remuneration for Cost Auditors M/s. S V M & Associates for FY27.
• Adoption of the audited financial statements for FY26.

The meeting will be held via Video Conference or Other Audio Visual Means, with the deemed venue at the registered office in Chennai. Shareholders holding shares as of September 23, 2026, are eligible to vote. The notice of the AGM and the annual report for FY25-26 are available on the company’s website and the CDSL e-voting portal.

What the Numbers Show

The divergence between revenue decline and profit recovery highlights a strategic shift towards operational discipline. While broadcasting income fell sharply, likely due to broader industry headwinds affecting linear TV advertising, the company successfully contained costs. The reduction in administrative and other expenses, alongside lower finance costs due to debt repayment, allowed Raj Television to generate positive cash flows from operations of ₹75.31 crore, up from an outflow of ₹51.69 crore in FY25. This suggests that while top-line growth remains challenged, the business model is stabilizing through rigorous expense control.