Financials Zee Entertainment Enterprises Limited

Equities

ZEEL

INE256A01028

Broadcasting

Market Closed - NSE India S.E. Other stock markets 10:29:57 16/01/2026 GMT			5-day change	1st Jan Change
89.50 ^INR	-0.87%		-1.66%	-0.51%

12-31	Zee Entertainment says tax demand of 1.2 billion rupees upheld	RE
12-03	Zee Entertainment says no operational impact or performance on report of layoffs after failed Sony merger	RE

Projected Income Statement: Zee Entertainment Enterprises Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	77,299	81,893	80,879	86,372	82,941	83,274	88,510	94,903
Change	-	5.94%	-1.24%	6.79%	-3.97%	0.4%	6.29%	7.22%
EBITDA ¹	17,901	17,221	11,011	9,071	11,962	11,736	14,719	16,978
Change	-	-3.8%	-36.06%	-17.62%	31.87%	-1.89%	25.41%	15.35%
EBIT ¹	15,252	14,762	7,883	5,980	9,177	9,355	11,768	13,724
Change	-	-3.21%	-46.6%	-24.14%	53.46%	1.94%	25.79%	16.63%
Interest Paid ¹	-570.8	-451.3	-702.4	-721	-327	-373.7	-383.2	-364.5
Earnings before Tax (EBT) ¹	12,556	14,155	4,681	3,811	9,257	10,102	12,720	14,863
Change	-	12.74%	-66.93%	-18.58%	142.91%	9.13%	25.91%	16.84%
Net income ¹	8,000	9,646	471.9	1,414	6,795	7,781	9,883	11,598
Change	-	20.56%	-95.11%	199.7%	380.45%	14.51%	27.02%	17.35%
Announcement Date	20/05/21	26/05/22	25/05/23	17/05/24	08/05/25	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	13,120	17,227	27,294	19,658	17,750	19,788	21,126	23,229	18,457	20,284	21,112	21,121	19,838	24,378	20,458	21,699	21,305	19,967	19,788	21,841	18,248	19,982	22,552	23,651
Change	-	31.3%	58.44%	-27.98%	-9.71%	11.48%	6.76%	9.95%	-20.54%	9.9%	4.08%	0.04%	-6.07%	22.88%	-16.08%	6.07%	-1.82%	-6.28%	-0.9%	10.37%	-16.45%	9.5%	12.86%	4.87%
EBITDA ¹	2,199	3,948	6,375	5,408	3,440	4,121	4,793	4,866	2,357	2,973	3,438	1,517	1,549	3,149	2,094	2,103	2,717	3,210	3,184	2,852	2,390	1,997	2,854	4,189
Change	-	79.54%	61.47%	-15.17%	-36.39%	19.8%	16.31%	1.52%	-51.56%	26.13%	15.63%	-55.87%	2.11%	103.29%	-33.51%	0.44%	29.2%	18.15%	-0.81%	-10.43%	-16.2%	-16.46%	42.95%	46.77%
EBIT ¹	1,480	4,599	5,723	4,781	2,850	2,485	4,199	4,189	1,579	2,157	2,525	684	764	2,377	1,332	1,331	1,961	2,478	2,526	2,213	1,799	1,614	2,199	3,505
Change	-	210.74%	24.44%	-16.46%	-40.39%	-12.81%	68.97%	-0.24%	-62.31%	36.61%	17.07%	-72.91%	11.7%	211.09%	-43.94%	-0.1%	47.33%	26.36%	1.94%	-12.39%	-18.71%	-10.27%	36.24%	59.39%
Charge d'intérêts	-	-13	-21.2	-491.3	-	-21.9	-29.6	-380.5	-81	-96.7	-131.4	-396.4	-234.3	-234	-183.4	-69	-55.4	-83	-108	-81	-	-81	-96	-97
Earnings before Tax (EBT) ¹	576.5	1,674	5,918	4,388	3,032	3,590	4,141	3,392	1,687	1,770	862.2	-468.9	7.5	1,842	821.4	1,140	1,799	2,864	1,978	2,619	1,972	2,060	2,194	-
Change	-	190.34%	253.54%	-25.85%	-30.89%	18.4%	15.33%	-18.09%	-50.25%	4.89%	-51.28%	-154.38%	101.6%	24,464%	-55.41%	38.75%	57.84%	59.21%	-30.94%	32.41%	-24.7%	4.46%	6.53%	-
Net income ¹	-	940.7	3,999	2,757	2,137	2,702	2,987	1,819	1,066	1,129	243.1	-1,960	-534.2	1,230	585.4	133.5	1,181	2,094	1,636	1,884	1,437	1,175	2,021	2,519
Change	-	-	325.12%	-31.05%	-22.48%	26.4%	10.58%	-39.1%	-41.41%	5.9%	-78.47%	-906.38%	72.75%	330.18%	-52.39%	-77.2%	784.64%	77.31%	-21.87%	15.16%	-23.73%	-18.27%	72.04%	24.68%
Announcement Date	18/08/20	02/11/20	04/02/21	20/05/21	06/08/21	11/11/21	02/02/22	26/05/22	12/08/22	11/11/22	13/02/23	25/05/23	09/08/23	09/11/23	13/02/24	17/05/24	31/07/24	18/10/24	23/01/25	08/05/25	22/07/25	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: Zee Entertainment Enterprises Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-14,546	-12,211	-5,220	-9,629	-9,291	-21,823	-25,783	-29,475
Change	-	16.05%	57.25%	-84.46%	3.51%	-134.88%	-18.15%	-14.32%
Announcement Date	20/05/21	26/05/22	25/05/23	17/05/24	08/05/25	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Zee Entertainment Enterprises Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	2,060	2,361	2,676	1,305	916	1,911	2,329	2,474
Change	-	14.63%	13.34%	-51.24%	-29.81%	108.64%	21.87%	6.23%
Free Cash Flow (FCF) ¹	13,417	353.1	-1,386	5,839	10,944	10,153	7,867	8,132
Change	-	-97.37%	-492.5%	521.31%	87.43%	-7.23%	-22.51%	3.37%
Announcement Date	20/05/21	26/05/22	25/05/23	17/05/24	08/05/25	-	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Zee Entertainment Enterprises Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	23.16%	21.03%	13.61%	10.5%	14.42%	14.09%	16.63%	17.89%
EBIT Margin (%)	19.73%	18.03%	9.75%	6.92%	11.06%	11.23%	13.3%	14.46%
EBT Margin (%)	16.24%	17.28%	5.79%	4.41%	11.16%	12.13%	14.37%	15.66%
Net margin (%)	10.35%	11.78%	0.58%	1.64%	8.19%	9.34%	11.17%	12.22%
FCF margin (%)	17.36%	0.43%	-1.71%	6.76%	13.19%	12.19%	8.89%	8.57%
FCF / Net Income (%)	167.7%	3.66%	-293.69%	412.85%	161.06%	130.48%	79.6%	70.12%
Profitability
ROA	6.97%	8.09%	1.69%	2.11%	5%	14.9%	15.4%	15.1%
ROE	9.05%	10.06%	2.11%	2.66%	6.07%	6.27%	7.63%	8.46%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.66%	2.88%	3.31%	1.51%	1.1%	2.29%	2.63%	2.61%
CAPEX / EBITDA (%)	11.51%	13.71%	24.31%	14.39%	7.66%	16.28%	15.82%	14.57%
CAPEX / FCF (%)	15.35%	668.73%	-193.12%	22.35%	8.37%	18.82%	29.61%	30.42%
Items per share
Cash flow per share ¹	16.11	2.826	1.344	7.434	12.36	16	7.5	8.1
Change	-	-82.46%	-52.45%	453.31%	66.23%	29.48%	-53.12%	8%
Dividend per Share ¹	2.5	3	-	1	2.43	2.859	3.389	3.539
Change	-	20%	-	-	143%	17.64%	18.56%	4.43%
Book Value Per Share ¹	105.1	113.1	111.6	113.1	110.9	125.5	132.2	140.4
Change	-	7.59%	-1.29%	1.36%	-1.98%	13.14%	5.36%	6.23%
EPS ¹	8.33	10.04	0.5	1.47	7.08	7.616	9.805	11.49
Change	-	20.53%	-95.02%	194%	381.63%	7.57%	28.74%	17.23%
Nbr of stocks (in thousands)	960,504	960,516	960,519	960,519	960,519	960,519	960,519	960,519
Announcement Date	20/05/21	26/05/22	25/05/23	17/05/24	08/05/25	-	-	-