Music Broadcast Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹182 Cr
- ROE
- -11.82%
- Price to sales
- 1.08
- Debt to equity
- 0.05
- 52W high / low
- ₹8.15 / ₹4.62
- Sales growth (5Y)
- 6.45%
- EBITDA margin
- -21.92%
- Net profit margin
- -31.97%
- Promoter holding
- 74.05%
- Sales (last year)
- ₹170 Cr
Incorporated in 1999, Music Broadcast Ltd is in the business of operating Private FM radio stations through the brand Radio City[1]
Guidance scorecard · Q2 FY27 call
What Music Broadcast Ltd's management guided
and where it ranks in Entertainment
RevenueQ2 FY27 call
0–10%- Company aims to accelerate growth if market conditions improve but is currently cautious about giving directional numbers.
- For the second half, there is hope for better momentum owing to the festive season.
- Focus on expanding non-FCT revenues through concerts and events, especially in Tier 2 and Tier 3 markets where traction is increasing.
- Non-FCT currently contributes 18-20% of revenue; efforts underway to increase this share profitably.
- Emphasis on strengthening core radio monetization, advertiser engagement, digital integrations, branded content, sponsorships, and diversified revenue streams.
2 more points from Music Broadcast Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ2 FY27 call
FlatSee what Music Broadcast Ltd said on margins — free account, 30 seconds.
CapexQ2 FY27 call
- The focus discussed is primarily on cost optimization, operational efficiency, and strengthening profitability.
- Emphasis is placed on expanding non-FCT revenues, branded content, events, sponsorships, digital integrations, and advertiser engagement rather than capital-intensive investments.
FundraisingQ2 FY27 call
None plannedSee what Music Broadcast Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Ask what Music Broadcast Ltd said on the order book →
Full Q2 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Entertainment
on management's own guidance
- Digikore Studios LtdGood growth2
- Phantom DigitalGood growth1
- Saregama India LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Entertainment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Phantom Digital | 20–40% | Up 2%+ | ₹156 Cr | 4.8 |
| 2 | Digikore Studios Ltd | 20–40% | Up 2%+ | ₹42 Cr | 3.3 |
| 3 | Saregama India Ltd | 20–40% | Flat | ₹9,718 Cr | 42.6 |
| 4 | 20–40% | Flat | ₹1,108 Cr | — | |
| 5 | 20–40% | Flat | ₹520 Cr | 10.8 | |
| 6 | 20–40% | Flat | ₹472 Cr | 18.2 |
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Pro shows every company guiding 40%+ revenue growth →Full Entertainment rankingFinancials of Music Broadcast Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Music Broadcast Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% | 74.05% |
| FIIs + | 0.04% | 0.28% | 0.03% | 0.03% | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| DIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.01% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% |
| Public + | 25.91% | 25.67% | 25.92% | 25.91% | 25.91% | 25.93% | 22.20% | 22.19% | 22.21% | 22.20% | 22.20% | 22.20% |
| No. of Shareholders | 43,742 | 53,698 | 52,267 | 51,881 | 51,641 | 51,329 | 51,168 | 50,460 | 49,891 | 48,980 | 48,290 | 47,376 |
Financials of Music Broadcast Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 52.44 | 60.44 | 62.63 | 59.60 | 54.83 | 65.38 | 54.67 | 49.32 | 37.84 | 46.48 | 40.79 | 44.54 | 40.96 |
| Expenses + | 46.06 | 50.95 | 52.42 | 50.36 | 51.80 | 54.54 | 100.07 | 48.38 | 43.33 | 38.88 | 88.28 | 35.62 | 34.82 |
| Operating Profit | 6.38 | 9.49 | 10.21 | 9.24 | 3.03 | 10.84 | -45.40 | 0.94 | -5.49 | 7.60 | -47.49 | 8.92 | 6.14 |
| OPM % | 12.17% | 15.70% | 16.30% | 15.50% | 5.53% | 16.58% | -83.04% | 1.91% | -14.51% | 16.35% | -116.43% | 20.03% | 14.99% |
| Other Income + | 5.71 | 5.81 | 5.91 | 6.62 | 6.49 | 6.74 | 7.01 | 7.02 | 6.84 | 8.34 | 4.56 | 8.20 | 7.47 |
| Interest | 2.47 | 2.44 | 2.58 | 2.83 | 2.86 | 2.87 | 3.03 | 3.06 | 3.06 | 3.05 | 1.24 | 0.72 | 0.62 |
| Depreciation | 8.28 | 8.42 | 8.50 | 8.53 | 8.63 | 8.77 | 8.69 | 7.08 | 7.05 | 6.81 | 6.64 | 4.08 | 4.06 |
| Profit before tax | 1.34 | 4.44 | 5.04 | 4.50 | -1.97 | 5.94 | -50.11 | -2.18 | -8.76 | 6.08 | -50.81 | 12.32 | 8.93 |
| Tax % | 72.39% | 42.12% | 41.07% | 42.89% | 1.02% | 39.39% | -24.11% | -0.46% | -21.46% | 39.47% | -5.61% | 25.16% | 25.31% |
| Net Profit + | 0.37 | 2.57 | 2.97 | 2.58 | -1.99 | 3.60 | -38.03 | -2.17 | -6.88 | 3.68 | -47.96 | 9.22 | 6.68 |
| EPS in Rs | 0.01 | 0.07 | 0.09 | 0.07 | -0.06 | 0.10 | -1.10 | -0.06 | -0.20 | 0.11 | -1.39 | 0.27 | 0.19 |
Financials of Music Broadcast Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 201 | 225 | 271 | 298 | 325 | 248 | 128 | 168 | 199 | 229 | 234 | 174 | 173 |
| Expenses + | 139 | 149 | 180 | 201 | 212 | 191 | 139 | 157 | 176 | 195 | 257 | 218 | 198 |
| Operating Profit | 62 | 77 | 91 | 97 | 113 | 57 | -11 | 11 | 23 | 33 | -22 | -44 | -25 |
| OPM % | 31% | 34% | 34% | 33% | 35% | 23% | -9% | 7% | 12% | 15% | -10% | -25% | -14% |
| Other Income + | 7 | 2 | 4 | 19 | 15 | 16 | 15 | 17 | 20 | 23 | 27 | 26 | 29 |
| Interest | 6 | 21 | 19 | 15 | 6 | 10 | 3 | 3 | 4 | 10 | 12 | 10 | 6 |
| Depreciation | 16 | 17 | 20 | 26 | 27 | 35 | 33 | 33 | 33 | 33 | 35 | 28 | 22 |
| Profit before tax | 47 | 42 | 57 | 75 | 96 | 29 | -33 | -8 | 6 | 13 | -42 | -56 | -23 |
| Tax % | 0% | 34% | 36% | 31% | 36% | 2% | -26% | -25% | 43% | 47% | -19% | -4% | |
| Net Profit + | 47 | 28 | 37 | 52 | 62 | 28 | -24 | -6 | 3 | 7 | -34 | -53 | -28 |
| EPS in Rs | 1.80 | 1.05 | 1.03 | 1.45 | 1.78 | 0.82 | -0.70 | -0.16 | 0.10 | 0.20 | -0.98 | -1.54 | -0.82 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Music Broadcast Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 42 | 57 | 57 | 55 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69 |
| Reserves | 19 | 168 | 491 | 543 | 548 | 563 | 541 | 534 | 456 | 463 | 429 | 376 | 392 |
| Borrowings + | 285 | 223 | 150 | 50 | 74 | 22 | 23 | 19 | 98 | 106 | 126 | 24 | 17 |
| Other Liabilities + | 55 | 57 | 63 | 49 | 53 | 34 | 23 | 31 | 33 | 42 | 41 | 27 | 32 |
| Total Liabilities | 398 | 490 | 761 | 699 | 731 | 688 | 657 | 654 | 656 | 681 | 665 | 496 | 510 |
| Fixed Assets + | 19 | 230 | 312 | 297 | 310 | 309 | 283 | 255 | 233 | 219 | 179 | 106 | 96 |
| CWIP | 0 | 66 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 15 | 27 | 156 | 172 | 208 | 202 | 219 | 220 | 247 | 311 | 250 | 280 |
| Other Assets + | 379 | 179 | 423 | 246 | 249 | 170 | 172 | 180 | 203 | 213 | 176 | 140 | 135 |
| Total Assets | 398 | 490 | 761 | 699 | 731 | 688 | 657 | 654 | 656 | 681 | 665 | 496 | 510 |
Financials of Music Broadcast Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 65 | 61 | 79 | 40 | 86 | 49 | 5 | 23 | 31 | 27 | 17 | 22 |
| Cash from Investing Activity + | -201 | -60 | -211 | 3 | -44 | 32 | 4 | -18 | -24 | -16 | -9 | 88 |
| Cash from Financing Activity + | 160 | -32 | 205 | -116 | -40 | -89 | -7 | -7 | -8 | -8 | -7 | -114 |
| Net Cash Flow | 24 | -31 | 73 | -72 | 2 | -7 | 2 | -2 | -1 | 3 | -0 | -5 |
| Free Cash Flow | 62 | -222 | 51 | 34 | 46 | 44 | 5 | 20 | 21 | 18 | 4 | 17 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 103% | 92% | 96% | 58% | 92% | 106% | -66% | 210% | 136% | 89% | -79% | -61% |
Financials of Music Broadcast Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 140 | 123 | 110 | 135 | 141 | 156 | 221 | 164 | 121 | 117 | 118 | 112 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 140 | 123 | 110 | 135 | 141 | 156 | 221 | 164 | 121 | 117 | 118 | 112 |
| Working Capital Days | 436 | -47 | -71 | 107 | 45 | 138 | 210 | 140 | 164 | 125 | -53 | 107 |
| ROCE % | 22% | 19% | 13% | 12% | 14% | 4% | -5% | -1% | 1% | 3% | -5% | -9% |
Guidance history
How Music Broadcast Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 0–10% | Flat | — | None planned | — |
| Q1 FY27 call → | 0–10% | Flat | None planned | None planned | — |
| Q4 FY26 call → | Decline | Flat | — | None planned | Flat |
| Q3 FY26 call → | 0–10% | Flat | — | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Music Broadcast Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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