Electronic Media industry

5 companies · ₹592 cr · Q1FY27 report

Print ad rebounds on DAVP rate hike; newsprint at post-COVID highs and rising DSOs limit margin recovery.

Turning upmargin troughed at -8.2% and has risen for 6 quarters to 0.7%, on positive revenue growth

Revenue YoY: +120.5%
EBITDA margin: 0.7%; +440bps YoY
Price, 1 year: -11.1%; 40% of names up
P/E vs own 5y: -

Exhibit 1The quarter in numbers

constant panel of 5 companies above ₹500 cr

aggregate revenue (₹ cr)EBITDA margin (right axis)

Metric	Jun 26	Mar 26	QoQ	Jun 25	YoY	Peak	vs peak
Revenue	97 cr	77 cr	+26.0%	44 cr	+120.5%	97 cr	0.0%
EBITDA margin	0.7%	1.9%	-120bps	-3.7%	+440bps	1.9%	-120bps

Revenue

Jun 26: 97 cr
Mar 26: 77 cr
QoQ: +26.0%
Jun 25: 44 cr
YoY: +120.5%
Peak: 97 cr
vs peak: 0.0%

EBITDA margin

Jun 26: 0.7%
Mar 26: 1.9%
QoQ: -120bps
Jun 25: -3.7%
YoY: +440bps
Peak: 1.9%
vs peak: -120bps

Breadth: 100% of 5 companies grew revenue year on year (was 80% a quarter earlier) and 40% expanded margin (was 40%).

Exhibit 3Structure

₹592 cr

Quint Digital Ltd is 65.4% of this industry by market cap. The top 5 are 100% and the top 10 are 100%.

micro 50 above ₹500 cr

Exhibit 5Coverage (5 of 5)

Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
Quint Digital Ltd	₹379 cr	11.8x	8.9x	10.0%	51.6%	+335.5%	Unlock
Sambhaav Media Ltd	₹116 cr	-	17.9x	2.3%	14.8%	+4.2%	Unlock
Cyber Media (India) Ltd	₹48 cr	12.5x	9.5x	43.6%	5.8%	+95.0%	Unlock
Diligent Media Corporation Ltd	₹30 cr	-	-215.7x	0.1%	1.4%	+117.7%	Unlock
SAB Events & Governance Now Media Ltd	₹7 cr	-	44.2x	15.2%	8.5%	+9.8%	Unlock

Quint Digital Ltd

Mcap: ₹379 cr
P/E: 11.8x
EV/EBITDA: 8.9x
ROCE: 10.0%
Margin: 51.6%
Rev YoY: +335.5%

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Sambhaav Media Ltd

Mcap: ₹116 cr
P/E: -
EV/EBITDA: 17.9x
ROCE: 2.3%
Margin: 14.8%
Rev YoY: +4.2%

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Cyber Media (India) Ltd

Mcap: ₹48 cr
P/E: 12.5x
EV/EBITDA: 9.5x
ROCE: 43.6%
Margin: 5.8%
Rev YoY: +95.0%

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Diligent Media Corporation Ltd

Mcap: ₹30 cr
P/E: -
EV/EBITDA: -215.7x
ROCE: 0.1%
Margin: 1.4%
Rev YoY: +117.7%

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SAB Events & Governance Now Media Ltd

Mcap: ₹7 cr
P/E: -
EV/EBITDA: 44.2x
ROCE: 15.2%
Margin: 8.5%
Rev YoY: +9.8%

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Exhibit 6What managements said

from Media earnings calls · as of 2026-06-30

tailwindPrint advertising recovering on DAVP rate hike and yield-improvement programmes3 managements

DBCORP, HT Media, and HMVL all reported double-digit print ad revenue growth in Q1FY27, driven by explicit yield programmes and the first government DAVP rate increase in seven…

DBCORP (Q1FY27): “Our consolidated advertising revenue continued its strong trajectory, growing by around…”

tailwind4 managements headwind3 managements headwind3 managements headwind2 managements headwind2 managements

5 more themes from this quarter's earnings calls are locked. A free account opens 3 full reports a quarter: every theme with verbatim management quotes, the demand picture, companies running against the tide, and the regulatory & disruption watch. Sign up free →

Exhibit 7Outlook

The outlook and what resolves next quarter

Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.

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AppendixThe other 0 companies

1-0

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