HT Media Limited - FY26 Financial Results and 24th AGM Notice
Financial Performance Overview
HT Media reported a consolidated net loss of ₹490.7 crore for FY 2025-26, a significant deterioration from the net profit of ₹142.0 crore in the previous year. This performance was severely impacted by exceptional impairment charges totaling ₹1,142.3 crore, primarily related to:
- Provision for diminution in value of investment in subsidiaries: ₹731.3 crore
- Impairment of intangible assets: ₹223.1 crore
- Impairment of property, plant and equipment: ₹43.7 crore
- Impairment of right-of-use assets: ₹48.8 crore
- Statutory impact of new Labour Codes: ₹405.4 crore
Revenue from operations showed modest growth, increasing 3.3% to ₹1,803.3 crore from ₹1,745.8 crore in FY25. The printing and publishing segment remained the largest contributor with revenue of ₹1,500.4 crore, while radio broadcasting revenue declined to ₹139.5 crore.
Balance Sheet and Capital Structure
As of March 31, 2026, the company reported:
- Total borrowings: ₹661.7 crore (secured loans: ₹206.4 crore; unsecured loans: ₹455.3 crore)
- Cash and cash equivalents: ₹50.5 crore
- Trade receivables: ₹395.5 crore
- Authorized share capital: ₹625.9 crore
- Issued, subscribed and fully paid-up capital: ₹465.5 crore
The Hindustan Times Limited (holding company) maintains 69.94% ownership of the equity share capital.
Business Restructuring and Discontinued Operations
The Board approved the closure/surrender of specific radio stations as part of a restructuring initiative announced after the reporting period. This decision was necessitated by sustained financial losses rendering the radio venture commercially unviable.
Additionally, the company discontinued its OTTplay business effective March 31, 2026, recognizing an exceptional loss of ₹101.6 crore from discontinued operations. The total loss from discontinued operations amounted to ₹876.9 crore after tax.
24th Annual General Meeting Details
HT Media will hold its 24th AGM on September 25, 2026, via video conference. Key agenda items include:
Ordinary Business:
- Adoption of audited standalone and consolidated financial statements for FY26
- Re-appointment of Shri Priyavrat Bhartia as Director retiring by rotation
Special Business:
- Ratification of cost auditor fees of ₹90,000 for FY27
- Approval of remuneration payable to Smt. Shobhana Bhartia, Chairperson & Editorial Director, of up to ₹60 lakh per month for the period July 1, 2026 to June 30, 2028
The notice includes detailed voting instructions and discloses transfer of ₹83,665 unclaimed dividend and 20,327 shares to the Investor Education and Protection Fund (IEPF).
Segment Performance Analysis
The Group operates in three reportable segments:
1. Printing and publication of newspapers & periodicals: Revenue ₹1,500.4 crore | Segment profit ₹151.7 crore
2. Radio broadcast & Entertainment: Revenue ₹139.5 crore | Segment loss ₹50.9 crore
3. Digital - Internet related services: Revenue ₹154.6 crore | Segment loss ₹8.8 crore
Regulatory Compliance and Governance
The financial statements are prepared in accordance with Indian Accounting Standards (Ind AS) and comply with the Companies Act, 2013. The auditor, S.R. Batliboi & Co. LLP, issued an unqualified opinion, highlighting key audit matters including revenue recognition, impairment assessment, and fair value measurement of investments.
The company faces contingent liabilities including tax demands under dispute totaling ₹853 lakhs, GST demands of ₹4,368 lakhs, and corporate guarantees of ₹296 lakhs given on behalf of related parties.
Outlook and Strategic Implications
The significant impairments and restructuring actions reflect the challenging operating environment in the traditional media sector, particularly for radio broadcasting. The company's focus on cost optimization and strategic review of non-core assets indicates a proactive approach to addressing these challenges while maintaining compliance with regulatory requirements.