Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹108Cr
Entertainment - Content Providers
Rev Gr TTM
Revenue Growth TTM
10.88%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

BAGFILMS
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -4.1 | 17.7 | 80.6 | -20.9 | 8.4 | 14.4 | -20.6 | 34.2 | 3.8 | 10.5 | 3.7 | 28.3 |
| 30 | 21 | 31 | 20 | 38 | 26 | 31 | 26 | 32 | 26 | 32 | 37 |
Operating Profit Operating ProfitCr |
| 19.8 | 16.7 | 28.9 | 12.0 | 5.1 | 8.3 | 10.4 | 14.9 | 24.1 | 17.1 | 9.4 | 7.2 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 1 | 2 | 0 | 0 | 1 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 3 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
Depreciation DepreciationCr | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 4 | 1 | 9 | -1 | -1 | 2 | 1 | 1 | 8 | 3 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 0 | 0 |
|
Growth YoY PAT Growth YoY% | 335.6 | 108.4 | 373.9 | -116.3 | -112.8 | 125.7 | -93.5 | 231.7 | 1,426.5 | 42.4 | -41.4 | -91.7 |
| 10.3 | 2.8 | 20.5 | -4.4 | -1.2 | 5.5 | 1.7 | 4.3 | 15.5 | 7.2 | 0.9 | 0.3 |
| 0.2 | 0.0 | 0.5 | -0.1 | 0.0 | 0.1 | 0.0 | 0.1 | 0.3 | 0.1 | 0.0 | 0.0 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| -11.6 | -8.2 | 16.5 | -3.2 | 9.4 | -16.8 | -16.7 | 20.2 | -7.5 | 18.0 | 3.1 | 9.6 |
| 102 | 89 | 104 | 105 | 116 | 111 | 97 | 101 | 99 | 110 | 115 | 127 |
Operating Profit Operating ProfitCr |
| 20.1 | 24.2 | 23.6 | 20.8 | 20.2 | 8.3 | 3.7 | 16.7 | 11.4 | 16.3 | 15.2 | 14.6 |
Other Income Other IncomeCr | 2 | 1 | 1 | 1 | 2 | 2 | 3 | 2 | 1 | 2 | 4 | 2 |
Interest Expense Interest ExpenseCr | 16 | 15 | 16 | 14 | 13 | 12 | 13 | 10 | 9 | 10 | 8 | 8 |
Depreciation DepreciationCr | 24 | 15 | 13 | 17 | 13 | 11 | 8 | 6 | 5 | 5 | 4 | 3 |
| -13 | -1 | 4 | -2 | 5 | -11 | -14 | 5 | -1 | 8 | 12 | 12 |
| -4 | -1 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 3 |
|
| -3.9 | 100.3 | 15,126.2 | -123.8 | 635.8 | -306.6 | -41.2 | 134.1 | -130.1 | 554.1 | 47.5 | -7.9 |
| -7.4 | 0.0 | 2.9 | -0.7 | 3.4 | -8.6 | -14.5 | 4.1 | -1.3 | 5.1 | 7.3 | 6.2 |
| -0.9 | -0.1 | 0.2 | -0.1 | 0.3 | -0.5 | -0.6 | 0.2 | -0.1 | 0.3 | 0.5 | 0.5 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 36 | 38 | 38 | 38 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
| 66 | 70 | 71 | 69 | 115 | 105 | 93 | 96 | 102 | 111 | 118 | 120 |
Current Liabilities Current LiabilitiesCr | 76 | 116 | 151 | 135 | 128 | 143 | 136 | 141 | 145 | 131 | 137 | 153 |
Non Current Liabilities Non Current LiabilitiesCr | 98 | 76 | 53 | 55 | 54 | 51 | 51 | 44 | 43 | 40 | 43 | 43 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 134 | 151 | 163 | 127 | 178 | 191 | 176 | 220 | 226 | 222 | 250 | 269 |
Non Current Assets Non Current AssetsCr | 198 | 199 | 204 | 226 | 213 | 202 | 195 | 163 | 158 | 157 | 148 | 147 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 26 | 32 | 26 | 38 | 37 | 32 | -20 | -11 | -5 | 19 | 2 |
Investing Cash Flow Investing Cash FlowCr | -3 | -15 | -17 | -37 | -3 | 3 | 1 | 28 | 0 | -2 | 4 |
Financing Cash Flow Financing Cash FlowCr | -14 | -23 | -12 | -3 | -16 | -14 | -13 | -9 | -11 | -13 | -5 |
|
Free Cash Flow Free Cash FlowCr | 26 | 46 | 44 | 40 | 37 | 32 | -20 | -11 | -5 | 20 | 5 |
| -277.1 | 1,26,255.4 | 654.6 | -4,120.3 | 734.3 | -305.9 | 135.4 | -225.9 | 353.3 | 283.8 | 24.5 |
CFO To EBITDA CFO To EBITDA% | 102.4 | 114.0 | 79.3 | 139.2 | 125.4 | 315.1 | -533.5 | -55.6 | -41.5 | 89.2 | 11.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 53 | 81 | 88 | 83 | 90 | 34 | 40 | 108 | 73 | 163 | 107 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 78.2 | 0.0 | 28.1 | 0.0 | 0.0 | 39.1 | 0.0 | 41.3 | 17.4 |
Price To Sales Price To Sales | 0.4 | 0.7 | 0.7 | 0.6 | 0.6 | 0.3 | 0.4 | 0.9 | 0.7 | 1.2 | 0.8 |
Price To Book Price To Book | 0.5 | 0.8 | 0.8 | 0.8 | 0.6 | 0.2 | 0.3 | 0.8 | 0.5 | 1.1 | 0.7 |
| 6.6 | 6.8 | 6.5 | 7.9 | 6.9 | 12.2 | 42.7 | 10.5 | 14.7 | 12.0 | 10.4 |
Profitability Ratios Profitability Ratios |
| 96.2 | 101.9 | 98.3 | 102.0 | 99.8 | 100.9 | 99.9 | 98.9 | 107.2 | 106.2 | 111.4 |
| 20.1 | 24.2 | 23.6 | 20.8 | 20.2 | 8.3 | 3.7 | 16.7 | 11.4 | 16.3 | 15.2 |
| -7.4 | 0.0 | 2.9 | -0.7 | 3.4 | -8.6 | -14.5 | 4.1 | -1.3 | 5.1 | 7.3 |
| 1.2 | 6.3 | 8.4 | 4.6 | 6.2 | 0.6 | -0.6 | 5.9 | 3.1 | 7.2 | 7.5 |
| -9.3 | 0.0 | 3.6 | -0.9 | 3.2 | -7.1 | -11.0 | 3.7 | -1.1 | 4.5 | 6.3 |
| -2.9 | 0.0 | 1.1 | -0.3 | 1.3 | -2.6 | -3.9 | 1.3 | -0.4 | 1.8 | 2.5 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
B.A.G. Films & Media Ltd. (BAG) is a leading Indian media and production house with over **30 years of experience** in shaping the country’s entertainment landscape. From its origins as a small startup, the company has evolved into a vertically integrated multimedia conglomerate with a strong presence across **television, film, radio, and digital (OTT) platforms**. BAG’s mission is to control and scale operations across the **entire media value chain**—from content creation and ownership to broadcasting and distribution—ensuring creative control, cost efficiency, and expanded reach.
---
### **Core Business Segments & Subsidiaries**
BAG operates through a diversified portfolio of subsidiaries, enabling it to serve multiple media verticals:
- **E24 Glamour Limited** – Operates **E24**, a 24-hour Bollywood entertainment channel known for original programming such as *Bollywood Reporter*, *Jhakaas Mornings*, *It's Controversial*, and *Dil Dhakne Do*. The channel has adapted to digital disruption by acquiring movie rights and exploring subscription-based models.
- **News24 Broadcast India Limited** – Manages **NEWS24 MPCG**, the leading Hindi news channel in **Madhya Pradesh and Chhattisgarh**, targeting the Hindi heartland—a region with over 150 million people. The channel has solidified its dominance in regional news with programs like *News Shatak* and *Tajas-24*.
- **Skyline Radio Network Limited** – Operates **Dhamaal24** at 106.4 MHz, branded as “Har Khushi Hai Jahan,” providing regional infotainment across ten Indian cities. Popular shows include *Good Morning Ranchi* and *Zindagi Live*, emphasizing local culture and lifestyle.
- **E24 Entertainment Limited** – Recognized as a fellow subsidiary, contributing to the broader content and broadcasting strategy.
---
### **Content Strategy & Production Strength**
BAG produces high-quality, genre-diverse content across **TV, movies, and OTT platforms**, catering to **domestic and international audiences** of all age groups.
- **Flagship Programs (2023–2025):**
- *Amne Samne*
- *Sabse Bada Sawal*
- *Bollywood Reporter*
- *News Shatak*
- *Tajas-24*
- *Jhakaas Mornings*
- *Dil Dhakne Do*
- The company focuses on **high-impact, cost-effective daily shows** that generate consistent viewer engagement and stronger profitability.
- BAG has **shifted strategic focus toward regional content**, including regional films, to reduce reliance on expensive Bollywood productions and tap into underserved but rapidly growing regional markets.
- It actively **partners with OTT platforms** such as **MX Player and Applause**, pitching production services and expanding digital content output to capitalize on evolving consumer behavior.
- A strong **in-house IP database** of scripts, dialogues, and clips supports content repurposing and cost optimization.
---
### **Strategic Objectives**
1. **Vertical Integration**
BAG aims to produce, **own, broadcast, and distribute** its content, positioning itself as a fully integrated media entity.
2. **Digital Expansion**
Responding to the rapid growth of digital media, BAG is intensifying production for OTT and D2C (Direct-to-Consumer) platforms, aligning with India’s "billion screens" opportunity.
3. **Regional & Multi-Language Growth**
The company is expanding its footprint in **regional GECs and news**, tailoring content to local cultures and languages. NEWS24 MPCG’s leadership in MP and Chhattisgarh underscores this success.
4. **Marketing & Distribution Innovation**
BAG leverages strategic partnerships with channel operators and digital platforms to maximize reach and operational efficiency.
5. **Revenue Diversification**
Explores **subscription-based models, curated digital feeds, and paid streaming collaborations**, especially in radio and entertainment verticals.
---
### **Competitive Advantages**
- 30+ years of trusted brand presence in Indian media.
- Strong **in-house creativity** combined with strategic **content aggregation and distribution partnerships**.
- **Resilient, diversified business model** across TV, radio, digital, and film.
- Leadership in **regional news and entertainment**, with a foothold in high-growth markets.
- Agile adaptation to **digital shifts and economic challenges** (e.g., post-COVID D2C acceleration, GST, and piracy mitigation).