Regulatory Disclosure

Zee Entertainment Enterprises Limited submitted a regulatory filing to BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 46(2)(oa)(i) read with Schedule III of Part A of the SEBI Listing Regulations. The filing announces that the audio recording of the conference call held on October 30, 2026, regarding the company's performance for Q2 and H1 FY27 ending September 30, 2026, is available on the company's website at https://www.zee.com/investors/investor-financials/.

The document was digitally signed by Punit Goenka, Chief Executive Officer, on October 30, 2026, at 21:15:01 IST.

Q2 FY27 Financial Performance

Revenue Performance:

  • Q2 FY27 Operating Revenue: ₹22,246 Million, up 13% YoY (Q2 FY26: ₹19,692 Million) and up 17% QoQ (Q1 FY27: ₹19,073 Million)
  • Revenue driven by digital business growth and FIFA 2026 coverage

Profitability Metrics:

  • Q2 FY27 EBITDA: ₹708 Million, down 52% YoY (Q2 FY26: ₹1,464 Million) and down 10% QoQ (Q1 FY27: ₹789 Million)
  • Q2 FY27 EBITDA Margin: 3.2% (Q2 FY26: 7.4%, Q1 FY27: 4.1%)
  • Q2 FY27 Profit Before Tax: ₹631 Million, down 45% YoY (Q2 FY26: ₹1,154 Million) and down 15% QoQ (Q1 FY27: ₹741 Million)
  • Q2 FY27 Profit After Tax: ₹456 Million, down 40% YoY (Q2 FY26: ₹765 Million) and down 39% QoQ (Q1 FY27: ₹743 Million)

Revenue Breakdown (H1 FY27 vs H1 FY26):

  • Advertising Revenue: ₹24,693 Million vs ₹20,047 Million (23% growth)
  • Subscription Revenue: ₹14,744 Million vs ₹15,648 Million (6% decline)
  • Other Sales & Services: ₹1,882 Million vs ₹2,245 Million (16% decline)

Cost Breakdown (H1 FY27 vs H1 FY26):

  • Operating Personnel: ₹10,178 Million vs ₹6,443 Million
  • Advertising & Promotion: ₹4,103 Million vs ₹4,343 Million
  • Other Expenses: ₹2,977 Million vs ₹2,920 Million

H1 FY27 Financial Performance

Overall Performance:

  • H1 FY27 Operating Revenue: ₹41,319 Million, up 9% YoY (H1 FY26: ₹37,940 Million)
  • H1 FY27 EBITDA: ₹1,497 Million, down 60% YoY (H1 FY26: ₹3,744 Million)
  • H1 FY27 EBITDA Margin: 3.6% (H1 FY26: 9.9%)
  • H1 FY27 Profit After Tax: ₹1,199 Million, down 46% YoY (H1 FY26: ₹2,202 Million)

Operational Highlights

FIFA World Cup 2026 Impact:

  • FIFA 2026 to 2034: Zee secured rights to showcase key FIFA events for 8 consecutive years
  • FIFA 2026 generated ~50 Billion watch minutes across platforms
  • 83% of FIFA watch time came from LIVE matches on ZEE5
  • 400+ Million reach (Live + Non-Live)
  • 73% of Indians felt positive about Zee as a brand for bringing FIFA World Cup to India
  • 38% growth in social mentions with 33 Million total social mentions

Content Launches in Q2 FY27:

  • Sa Re Ga Ma Pa (Zee TV)
  • Dadagiri Unlimited S11 (Zee Sarthak)
  • Dilon Ki Ram Leela (Zee TV)
  • Halli Power Reloaded (Zee Kannada)
  • Home Minister (Zee Marathi)
  • Samanthi (Zee Tamil)

Movies Business:

  • 1 Hindi and 5 other language movies released during Q2 FY27
  • Distributed by Zee Studios

Music Business:

  • Music label with ~179 Million subscribers on YouTube

Viewership Performance:

  • Z Network achieved highest viewership share in over 7 years in Week 24 of 2026
  • Viewership focus: Zee TV, Zee Marathi and Zee Tamil
  • Monetization focus: Zee Kannada, Zee Bangla, Zee Sarthak, Zee Punjabi, Zee Telugu & Hindi movies/Cinema

Balance Sheet Position (as of September 2026)

Assets:

  • Total Assets: ₹146,789 Million (March 2026: ₹142,155 Million)
  • Non-Current Assets: ₹22,725 Million (Fixed assets: ₹8,765 Million, Investments: ₹1,673 Million)
  • Current Assets: ₹123,938 Million (Inventories: ₹66,335 Million, Cash & investments: ₹25,694 Million, Trade receivables: ₹19,126 Million)

Liabilities & Equity:

  • Total Equity: ₹123,993 Million (March 2026: ₹117,281 Million)
  • Non-Current Liabilities: ₹1,896 Million
  • Current Liabilities: ₹20,902 Million

Cash & Treasury Position (as of September 2026):

  • Total Cash & Treasury Investments: ₹25,694 Million
  • Mutual Fund Investments: ₹9,377 Million (Tata Ultra Short Term, SBI Magnum Ultra Short Duration, Aditya Birla Sun Life Savings, HDFC Ultra Short Term, ICICI Prudential Ultra Short Term, Tata Liquid, ICICI Prudential Liquid)
  • Fixed Deposits: ₹7,642 Million (ICICI Bank: ₹3,007 Million, HDFC Bank: ₹2,512 Million, AU Small Finance Bank: ₹2,123 Million)
  • FDs & other investments of subsidiaries: ₹3,371 Million
  • Bank Balance: ₹5,305 Million

ESG Performance

Ratings & Recognition:

  • S&P Global ESG Score: 51/100 (96th percentile in Media, Movies & Entertainment sector)
  • Industry average score: 22
  • NSE Sustainability Ratings & Analytics Rating: 'Leader' category

Environmental Performance:

  • GHG emission intensity: 31 tCO₂e per FTE
  • 5.4% reduction in Scope 2 emissions
  • 13.2% increase in waste recycled
  • Preliminary Climate Risk & Opportunity Assessment completed
  • 700+ ESG learning hours delivered

Social Performance:

  • 20.5% women representation across workforce
  • 137,011 total learning hours delivered
  • 95.4% employee retention rate
  • 32% open positions filled through internal mobility (iGrow)
  • 30,182 total CSR beneficiaries impacted

Governance Performance:

  • 98% local procurement across supply chain
  • 100% workforce trained on compliance, data privacy and cybersecurity
  • 28.6% women independent directors on the Board
  • Committed to responsible and transparent tax practices

Forward-Looking Statements

The document contains safe harbor statements noting that forward-looking statements are based on certain expectations and assumptions subject to risks including fluctuations in earnings, market growth, intense competition, pricing environment, consumption levels, regulatory changes, political instability, oil prices, input costs, and changing trade priorities. The company does not guarantee realization of forward-looking statements and may alter them based on subsequent developments.