• FY26 performance: Operating revenue rose to ₹186.67 crore from ₹139.32 crore, approximately 34% growth. EBITDA was around ₹39.29 crore, about 16.95% of total revenue, with improvement of about 21%; PAT increased to about ₹29.40 crore, approximately 65% year-on-year growth, with average PAT margins of 15.75%.
• Media expansion: Own-media revenue grew from approximately ₹3 crore in FY 23 to about ₹60 crore in the last financial year. The company cited almost 1,900 electric buses, 350-plus bicycle shelters, around 95 OOH digital screens, and a pan-India network across 25-plus cities.
• Strategic investments: The 19% stake in Kolkata Call Taxi is intended to secure cab supply for branding campaigns, while the 50% stake in ChargeKaro is aimed at monetizing EV charging infrastructure. Management said expansion through stabilizing these businesses and pursuing further opportunities could proceed in parallel.
• Growth and cash flow: Management expects to maintain, and catalyze, recent growth through more media assets, clients, and geographic expansion. The working-capital cycle is about 110 to 120 days, with client credit of 90 to 150 days; management said greater vehicle density and utilization could improve cash flows.
• Market risks: Management identified changing technology and digital consumption, along with geopolitical and budgetary pressures, as risks—advertising and marketing budgets may be cut first. Its key operating measures are utilization and average revenue per asset; it also cited outdoor advertising’s 8% to 9% year-on-year market growth and a first-mover advantage in new infrastructure media.