Music Broadcast Limited reported a net loss of ₹5,332.41 lakhs for the financial year ended March 31, 2026 (FY26), widening from a loss of ₹3,383.70 lakhs in the previous year. The deterioration was primarily driven by a 25.61% decline in revenue from operations to ₹17,443.25 lakhs, reflecting lower advertising demand and reduced inventory monetization. Additionally, the company recognized an impairment loss of ₹4,900.00 lakhs on non-financial assets after its market capitalization fell below the carrying amount of its net assets. Despite the operational headwinds, Music Broadcast strengthened its balance sheet by fully redeeming its Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) on January 19, 2026, at a redemption value of ₹120 per share.

The company’s 27th Annual General Meeting (AGM) is scheduled for Wednesday, September 02, 2026, at 1:00 P.M. IST. The meeting will be conducted exclusively through Video Conferencing or Other Audio-Visual Means (OAVM). Shareholders will vote on the adoption of audited financial statements, the re-appointment of Non-Executive Director Rahul Gupta, and the ratification of remuneration for Cost Auditors M/s. Kishore Bhatia and Associates for FY27. The remote e-voting period commenced on August 30, 2026, and concludes on September 01, 2026.

Financial Performance

Revenue from operations decreased by ₹6,004.86 lakhs year-on-year, impacted by a challenging macroeconomic environment and shifting advertiser preferences toward digital platforms. Total income fell by 23% to ₹20,118.69 lakhs. However, the company achieved significant cost rationalization, with total expenses declining by 15.23% to ₹25,683.76 lakhs. Employee benefit expenses dropped by 23.27% to ₹6,036.46 lakhs due to headcount reduction and cost optimization measures. Other gains increased to ₹506.95 lakhs from ₹323.87 lakhs, primarily due to fair value gains on financial assets.

Balance Sheet and Capital Structure

A key development in FY26 was the redemption of 89,69,597 NCRPS, which were issued in 2023 under a Scheme of Arrangement. The redemption, valued at approximately ₹107.63 crores, significantly improved the debt-equity ratio to 0.05x from 0.25x in the previous year. This deleveraging exercise reduced leverage and strengthened the capital structure. The company declared no dividend on equity shares for FY26 but paid an interim dividend of ₹0.01 per NCRPS prior to redemption. Statutory auditors S.N. Dhawan & Co. LLP expressed an unmodified opinion on the financial statements, highlighting the assessment of deferred tax balances and trade receivables as key audit matters.

What the Numbers Show

The widening net loss despite a sharper decline in expenses than revenue underscores the impact of non-cash impairments on profitability. The ₹4,900 lakh impairment charge reflects the disconnect between the company’s asset base and its current market valuation, a common challenge in media sectors facing digital disruption. However, the strategic redemption of NCRPS demonstrates management’s focus on balance sheet hygiene. With lease liabilities standing at ₹2,363.84 lakhs and no other significant borrowings, Music Broadcast enters FY27 with a leaner capital structure, though it must navigate continued pressure on advertising yields. The company’s shift toward integrated content solutions and digital engagement aims to diversify revenue streams beyond traditional radio broadcasting.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE919I01024/9a4098ca-8522-4f46-8d36-7519460eddb2.pdf

Music Broadcast designated Anurita Patel and Milli Shah as Senior Management Personnel effective July 22, 2026. The Board of Directors approved the identification based on the recommendation of the Nomination and Remuneration Committee, pursuant to Regulation 16(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This procedural update ensures compliance with listing norms and does not alter the existing terms and conditions of employment for either executive.

The disclosure was made to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the Listing Regulations, read with Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026. The Board meeting, which commenced at 02:30 P.M. and concluded at 04:30 P.M., focused on this regulatory requirement. Arpita Kapoor, Company Secretary & Compliance Officer, signed the disclosure on behalf of the company.

Details of Designated Personnel

Both executives are existing full-time employees of Music Broadcast Limited. The designation is a regulatory formality rather than a new appointment or promotion. Anurita Patel continues to head National Programming, while Milli Shah retains her role heading Commercial and Administration. The company confirmed that there is no change in their remuneration or other conditions of service.

Regulatory Compliance

The identification of Senior Management Personnel is mandatory under SEBI Listing Regulations for listed entities. By designating these two key executives, Music Broadcast ensures its governance structure meets regulatory expectations. The information is also available on the company's website at www.radiocity.in . This disclosure reflects standard corporate governance practices and does not signal any strategic shift or operational change within the organization.