Entertainment Network (India) Ltd(ENIL)

NSE: ENILBSE: 532700

₹ 85.2-1.30%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 406 crWebsite: www.enil.co.inUpdated: 24 Oct 2026

About

Entertainment Network (India) Ltd runs a radio broadcasting business. It also runs events and IP properties, digital solutions and the Gaana music streaming platform. Consolidated revenue was 565.17 crore in FY26. The company says it leads Indian private radio, with a radio volume market share of 27-28% in Q1 FY27.^[1][2]

Business segments

Radio FCT advertising revenue was INR62.2 crores in Q1 FY27. Advertiser demand stayed soft because of macroeconomic and geopolitical uncertainty.^[2]
The non-FCT segment, which includes events and activations, had revenue of INR17.5 crores in Q1 FY27. It was hit by event cancellations and artist travel disruptions.^[2]
Digital revenue was INR31.1 crores in Q1 FY27, up 43.3% YoY. That was 30.2% of standalone revenue, compared with 23% in Q1 FY26.^[2]
Radio was about 51% of overall revenue in Q3 FY26. Non-radio businesses (digital and solutions) made up 49%.^[3]
International operations brought in INR3 crores of revenue in Q1 FY27, hurt by the West Asia conflict. In Q2 FY26 the figure was Rs. 5.9 crores.^[2][4]

Radio operating measures

Radio volume market share was 27-28% in Q1 FY27. It was 25.2% in FY26 and 25.3% in Q4 FY26.^[2][5]
Radio FCT inventory utilisation fell about 8% YoY in Q1 FY27. The effective rate rose about 4% YoY.^[2]
Radio inventory utilisation was about 75% in Q3 FY26 and 76% in Q2 FY26.^[3][4]
Radio ad rates were still about 25-30% below pre-COVID levels in Q3 FY26.^[3]

Gaana music streaming

Gaana revenue was INR21.4 crores in Q1 FY27, against INR17.9 crores a year earlier.^[2]
Gaana losses were INR8.3 crores in Q1 FY27, down from INR9.8 crores a year earlier.^[2]
Gaana had 19.4 Mn monthly active users and more than 21.3 Mn paid subscribers in Q1 FY27. Monthly active users were 18.9M in Q4 FY26.^[2][5]
About 70% of Gaana subscribers were gross-margin positive in Q1 FY27, up from 66% in Q3 FY26. The subscription price was INR799.^[2][3]
Gaana runs on subscription only, with no free tier. It is available in about 170 countries (as of Q2 FY26).^[5][4]
Gaana platform revenue was ₹81 Cr in FY26, up 71% YoY. Digital spending was cut by 23% in FY26.^[5]

Events and IP

Events and IP revenue was ₹353.5 Mn in Q3 FY26, up 10.5% YoY.^[3]
Events revenue is seasonal: about 35% comes in the first half and 65% in the second half. Some events cancelled in Q1 FY27 were moved to Q2.^[2]
Non-FCT revenue was INR148 crores in FY26, compared with INR1,508.8 mn in FY25. International artist concerts were cancelled in Q4 FY26.^[5]

Plans and targets

Management is targeting Gaana EBITDA breakeven in FY27.^[2][5]
Cost cuts in broadcasting are planned to continue through FY27. These include networking stations together and AI-based broadcasting tools.^[2]
Management expects Gaana paid subscribers to grow at about 15% CAGR over the next 2-3 years.^[5]
Gaana is to lead international expansion, with a focus on the US and North America.^[5][3]
Management is evaluating acquisitions but has no deal committed (as of Q4 FY26).^[5]

Recent developments

Net cash was INR390 crores as of June 30, 2026, with consolidated cash and equivalents of INR409 crores.^[2]
The West Asia conflict disrupted events and international operations in Q4 FY26 and Q1 FY27. Operations in Bahrain and Qatar are continuing.^[2][5]

Market Cap

₹406 Cr

High / Low

₹142 / 85

Stock P/E

-49.0

Price / Book

0.5

Book Value

₹159

EPS

₹-1.6

No. of Shares

4.77 Cr

ROCE

-0.8%

ROE

-1.0%

OPM

-1.2%

Debt / Equity

0.00

Sales

₹565 Cr

Net Profit

₹-7 Cr

Promoter holding

71.2%

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