Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹526Cr
Rev Gr TTM
Revenue Growth TTM
6.68%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

HTMEDIA
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% | 4.9 | -6.3 | -3.7 | 0.6 | 5.2 | -3.8 | 7.5 | 10.6 | 10.6 | 8.9 | 6.5 | 1.4 |
| 481 | 419 | 428 | 458 | 463 | 420 | 447 | 484 | 488 | 442 | 456 | 482 |
Operating Profit Operating ProfitCr |
| -8.9 | -6.4 | -8.5 | -3.4 | 0.3 | -10.9 | -5.4 | 1.2 | 5.0 | -7.2 | -0.9 | 3.0 |
Other Income Other IncomeCr | 53 | 52 | 2 | 44 | 32 | 49 | 56 | 41 | 69 | 39 | 47 | -5 |
Interest Expense Interest ExpenseCr | 17 | 17 | 20 | 21 | 20 | 17 | 18 | 16 | 16 | 15 | 15 | 15 |
Depreciation DepreciationCr | 31 | 30 | 30 | 29 | 31 | 27 | 24 | 24 | 23 | 23 | 25 | 22 |
| -34 | -21 | -81 | -21 | -17 | -36 | -9 | 6 | 55 | -28 | 3 | -27 |
| -14 | -2 | -24 | -6 | -17 | -9 | -3 | 10 | 3 | -17 | 7 | -3 |
|
Growth YoY PAT Growth YoY% | -234.7 | 54.6 | 66.0 | 36.3 | 98.5 | -45.4 | 88.9 | 78.6 | 16,667.7 | 58.8 | 31.4 | -631.5 |
| -4.7 | -4.8 | -14.4 | -3.4 | -0.1 | -7.3 | -1.5 | -0.7 | 10.0 | -2.8 | -1.0 | -4.8 |
| -0.7 | -0.8 | -2.2 | -0.6 | 0.1 | -1.1 | -0.3 | -0.3 | 1.8 | -0.6 | -0.2 | -1.0 |
| 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 |
|---|
|
| 4.0 | 9.3 | -2.0 | -6.2 | -4.4 | -5.3 | -46.4 | 34.3 | 14.0 | -1.0 | 6.5 | 3.8 |
| 2,021 | 2,179 | 2,154 | 1,935 | 2,215 | 1,940 | 1,241 | 1,474 | 1,851 | 1,767 | 1,838 | 1,867 |
Operating Profit Operating ProfitCr |
| 11.7 | 12.9 | 12.2 | 15.9 | -0.7 | 6.9 | -11.1 | 1.8 | -8.2 | -4.3 | -1.8 | 0.4 |
Other Income Other IncomeCr | 154 | 156 | 229 | 284 | 201 | -205 | 211 | 177 | 154 | 129 | 213 | 151 |
Interest Expense Interest ExpenseCr | 47 | 63 | 95 | 81 | 114 | 99 | 56 | 55 | 76 | 78 | 67 | 62 |
Depreciation DepreciationCr | 100 | 102 | 125 | 121 | 108 | 182 | 137 | 135 | 132 | 119 | 98 | 93 |
| 275 | 314 | 308 | 446 | -36 | -344 | -106 | 14 | -193 | -140 | 15 | 2 |
| 57 | 80 | 67 | 94 | -52 | -2 | -45 | -7 | 58 | -49 | 1 | -9 |
|
| -6.3 | 7.3 | 3.0 | 46.3 | -95.5 | -2,251.3 | 82.1 | 135.2 | -1,272.6 | 63.7 | 115.5 | -15.8 |
| 9.5 | 9.3 | 9.8 | 15.3 | 0.7 | -16.4 | -5.5 | 1.4 | -14.7 | -5.4 | 0.8 | 0.6 |
| 6.9 | 6.7 | 6.5 | 11.8 | -0.5 | -15.0 | -3.1 | 0.8 | -9.8 | -3.5 | 0.1 | 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 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 |
| 1,856 | 2,036 | 2,186 | 2,498 | 2,465 | 2,109 | 2,043 | 2,037 | 1,753 | 1,668 | 1,620 | 1,606 |
Current Liabilities Current LiabilitiesCr | 1,185 | 1,924 | 1,986 | 2,026 | 1,786 | 1,467 | 1,622 | 1,621 | 1,758 | 1,798 | 1,710 | 1,844 |
Non Current Liabilities Non Current LiabilitiesCr | 112 | 81 | 40 | 32 | 329 | 323 | 228 | 275 | 241 | 253 | 173 | 126 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 1,211 | 1,504 | 977 | 1,505 | 2,259 | 1,327 | 1,122 | 1,828 | 1,435 | 1,846 | 1,999 | 2,080 |
Non Current Assets Non Current AssetsCr | 2,181 | 2,818 | 3,581 | 3,439 | 2,731 | 3,019 | 3,224 | 2,550 | 2,719 | 2,263 | 1,934 | 1,879 |
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 | 409 | 210 | 306 | 309 | 73 | 38 | 203 | 14 | -47 | -53 | 57 |
Investing Cash Flow Investing Cash FlowCr | -179 | -879 | -266 | -245 | 115 | 420 | -60 | 4 | 248 | 142 | 170 |
Financing Cash Flow Financing Cash FlowCr | -157 | 636 | -62 | -9 | -206 | -585 | -112 | -32 | -207 | -57 | -253 |
|
Free Cash Flow Free Cash FlowCr | 318 | -368 | 263 | 318 | 0 | 16 | 191 | -8 | -71 | -33 | 107 |
| 187.8 | 90.0 | 127.3 | 87.7 | 458.5 | -11.1 | -332.2 | 67.3 | 18.7 | 58.2 | 398.3 |
CFO To EBITDA CFO To EBITDA% | 152.4 | 65.2 | 102.7 | 84.7 | -458.8 | 26.7 | -163.7 | 54.5 | 33.7 | 73.0 | -173.2 |
| 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 | 2,884 | 1,771 | 1,927 | 1,962 | 1,044 | 233 | 484 | 775 | 350 | 616 | 382 |
Price To Earnings Price To Earnings | 16.1 | 10.2 | 11.2 | 6.3 | 0.0 | 0.0 | 0.0 | 43.3 | 0.0 | 0.0 | 205.1 |
Price To Sales Price To Sales | 1.3 | 0.7 | 0.8 | 0.8 | 0.5 | 0.1 | 0.4 | 0.5 | 0.2 | 0.4 | 0.2 |
Price To Book Price To Book | 1.5 | 0.8 | 0.9 | 0.8 | 0.4 | 0.1 | 0.2 | 0.4 | 0.2 | 0.4 | 0.2 |
| 11.3 | 8.3 | 9.7 | 8.1 | -119.2 | 6.3 | -9.7 | 57.8 | -7.9 | -19.0 | -31.9 |
Profitability Ratios Profitability Ratios |
| 67.6 | 71.1 | 71.6 | 71.2 | 64.4 | 72.9 | 76.7 | 72.9 | 64.5 | 70.9 | 77.0 |
| 11.7 | 12.9 | 12.2 | 15.9 | -0.7 | 6.9 | -11.1 | 1.8 | -8.2 | -4.3 | -1.8 |
| 9.5 | 9.3 | 9.8 | 15.3 | 0.7 | -16.4 | -5.5 | 1.4 | -14.7 | -5.4 | 0.8 |
| 14.3 | 12.0 | 12.1 | 14.2 | 2.1 | -8.4 | -1.7 | 2.3 | -4.4 | -2.4 | 3.5 |
| 11.4 | 11.2 | 10.8 | 13.8 | 0.6 | -15.9 | -2.9 | 1.0 | -14.0 | -5.3 | 0.8 |
| 6.4 | 5.4 | 5.3 | 7.1 | 0.3 | -7.9 | -1.4 | 0.5 | -6.1 | -2.2 | 0.4 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
**H T Media Ltd (HTML)** is a leading Indian media and entertainment conglomerate with a legacy spanning over a century, rooted in responsible journalism and evolving into a diversified multi-platform content provider. The company operates across three core segments: **Print Publishing, Radio Broadcasting, and Digital Services**, with a strategic focus on innovation, digital transformation, and audience-centric growth.
HTML’s flagship print brands—**Hindustan Times (English), Hindustan (Hindi), and Mint (business)**—continue to hold strong positions in their respective markets, supported by credible, purpose-driven journalism. Simultaneously, the company has aggressively expanded into digital ecosystems, investing in high-growth adjacencies including **online recruitment, OTT aggregation, business intelligence, podcasts, and digital upskilling**, positioning itself as a future-ready media organization.
---
### **Core Business Segments**
#### **1. Print & Publishing**
- **Flagship Brands**:
- *Hindustan Times*: A premier English daily with deep market penetration in metro and Tier-1 cities. Known for quality journalism and national reach.
- *Hindustan*: A leading Hindi daily with dominant presence in North India, particularly in **Bihar, Uttar Pradesh, Uttarakhand, and Delhi-NCR**, where it holds either monopoly or duopoly positions.
- *Mint*: A respected English business daily offering analytical, data-driven coverage focused on entrepreneurship, policy, and financial markets.
- **Recent Developments**:
- Expansion of Mint’s print presence to new cities, including **Chandigarh**.
- Print revenue strategy includes **cover-price optimization, bundled offerings, subscription growth, and flagship brand campaigns**.
- Pricing recovery initiatives launched post-COVID to restore profitability despite newsprint cost volatility and advertising headwinds.
#### **2. Radio Broadcasting**
- **Portfolio of Music & Lifestyle Brands**:
- **Fever FM**: India’s leading Contemporary Hit Radio (CHR) brand targeting youth audiences in major metros (Delhi, Mumbai, Bengaluru, Kolkata). Recently rebranded with **"Happening Hai"** for enhanced urban appeal.
- **Punjabi Fever**: A vernacular extension of Fever FM tailored for Delhi’s Punjabi-speaking audience, offering localized music and weekend shows.
- **Radio Nasha**: India’s **first and only retro Bollywood FM channel**, dedicated to 1970s–1990s music. Broadcasts in **Mumbai and Kolkata**, with niche celebrity-hosted programming.
- **Radio One**: A cosmopolitan brand offering global music formats and international content, including live coverage of events like the Grammys. Also operates **Radio One International**.
- **Radio Growth Drivers**:
- Strong non-Free Commercial Time (NFCT) revenue via **branded events, multimedia activations, and intellectual property (IP) development**.
- Organized over five major events annually (e.g., *Beered Up Fest, The Laughology Project, Yoga BootCamp*) to expand audience engagement.
- Strategic shift to event-led monetization and audience-centric content innovation post-pandemic.
- Plans to expand Fever FM’s relevance among younger urban demographics through rebranding and multimedia integration.
- **Market Reach**:
- Operates **22 radio stations across 15 Indian cities**, ranking among the top private radio operators in India.
- **Fever FM** holds No. 1 listener share in Delhi, Mumbai, and Bengaluru (RAM Q4 FY2020).
---
#### **3. Digital Services**
The digital segment has emerged as a key growth engine, comprising:
- **OTTplay** (OTT aggregation)
- **Shine & Shine Learning** (recruitment and upskilling)
- **Mosaic Digital** (business & tech intelligence)
- **HT Smartcast** (podcasting)
- **HT Labs** (innovation incubator)
---
### **Digital Initiatives & Investments**
#### **OTTplay – India’s Leading OTT 'Super App'**
- **Launch**: January 2024; officially monetized by FY2025.
- **Function**: A **single-sign-on, bundled subscription platform** aggregating content from **35+ OTT partners**, including Netflix, Prime Video, Disney+, SonyLIV, and regional streaming services.
- **Offerings**:
- Access to **over 400 live TV channels**.
- Multilingual support (up to **7 Indian languages**).
- Personalized recommendation engine, curated content rails, and user reviews.
- Includes **sports, devotional, kids, regional entertainment**, and live event streaming.
- **Go-to-Market**:
- **Phygital (physical + digital) strategy** – partnerships with **BSNL (BiTV), telecom providers, and cable operators** to bundle subscriptions.
- Targets **Tier 2 & Tier 3 towns**, where broadband infrastructure is limited and standalone OTT access remains fragmented.
- **Competitive Edge vs. Jio**:
- Offers **lower effective cost**, seamless UX (no multi-login friction), and broader genre coverage.
- Independent from telecom bundling, allowing deeper focus on **content discovery and user personalization**.
- **Adoption & Performance (as of Sep 2025)**:
- Rapid user acquisition, **high renewal rates**, and rising engagement.
- **One of India’s largest OTT aggregators** with growing market share.
- Joined **ONDC (Open Network for Digital Commerce)** to innovate in content discovery and audience reach.
- Positioned as a **leading player in India’s digital entertainment landscape**, with strong revenue and user base growth in FY2025.
---
#### **Shine – Online Recruitment & Upskilling Platform**
- **Core Offerings**:
- **Shine.com**: One of India’s **largest job portals**, connecting **50M+ candidate profiles** with employers across sectors.
- **Recruiter Tools**: AI-powered screening, automated workflows, Interview-as-a-Service, and Assessment-as-a-Service.
- **AI & Tech Innovation**: Uses **large language models (LLMs)**, generative AI, and a benchmarked recommendation engine to reduce **time-to-hire** and improve candidate matching.
- **Partnerships**: Collaborated with Mint to release **Quarterly Talent Insights Report**, offering market intelligence.
- **Shine Learning**:
- Upskilling arm offering **online courses and certifications** aligned with recruiter demands and industry trends.
- Extends Shine’s role from job portal to **comprehensive career partner**.
- **Growth Outlook**:
- Strong revenue growth and improving profitability.
- Investing in AI-driven product relevance and **expanding into professional certifications and B2B enterprise solutions**.
---
#### **Mosaic Digital – Business & Tech Intelligence Hub**
- **Portfolio Includes**:
- **VCCircle**: Leading news platform on India’s **startup, private equity, and venture capital sectors**.
- **TechCircle**: Authority on enterprise tech, emerging technologies, and digital disruption.
- **VCCEdge**: Premium **market intelligence & research platform** with proprietary deal, company, and financial data used by investors and financial institutions.
- **SalesEdge**: Provides insights into **enterprise technology spending patterns**, supporting go-to-market and advisory services.
- **Business Model**:
- Revenue from **subscriptions, syndication, high-profile industry events, and strategic advisory services**.
- Hosts niche forums such as **LP Summit, Family Office Forum, Healthcare Investment Summit**.
- Events act as **high-value engagement touchpoints**, strengthening brand loyalty and ecosystem positioning.
- **Recent Performance**:
- Consistent growth in research and events; **reinforced synergy with Mint’s business journalism**.
- Expanding data offerings and integrating AI to enhance predictive analytics for private market professionals.
---
#### **HT Smartcast – India’s Largest Single-Publisher Podcast Platform**
- Offers **230+ podcasts across 20 genres and 8 languages**.
- Covers **news, sports, fashion, finance, and nostalgia**.
- Content distributed via **own app and third-party platforms**, reaching both casual and dedicated podcast listeners.
- Aims to become a **global curator of premium audio narratives** and branded storytelling.
---
#### **HT Labs – Innovation & Incubation Arm**
- Internal incubator focused on **6–7 new digital ventures**.
- Portfolio includes:
- **OTTplay**
- **Slurrp** (recipe aggregation/food tech)
- **UPublish** (content management system for publishers)
- **HT School** (digital learning for school students)
- Supports company’s strategic shift toward **scalable, digitally native businesses beyond traditional media**.
---
### **Strategic Focus (FY2025–26 Outlook)**
1. **Digital Transformation as Priority**:
- Scaling digital businesses—**OTTplay, Shine, and Mosaic Digital**—to balance reliance on traditional print revenues.
- Digital now represents a **significant and growing** portion of consolidated revenue.
2. **Print Business Stabilization**:
- Focus on **circulation growth, cover-price optimization, and advertiser retention**.
- Print revenue, once ~85% of total, has reduced but remains foundational.
- Targeting **new-age advertisers** and high-value brand campaigns.
3. **Radio Monetization & Brand Extension**:
- Moving beyond FCT to **non-core advertising, branded content, and live events**.
- Rebranding Fever FM to appeal to youth and drive engagement.
4. **Investment Approach**:
- Willing to **absorb near-term investment pressures** in digital ventures for long-term market leadership.
- **No fixed cap on OTTplay investment**—will scale based on traction.
5. **"Ad for Equity" (AFE) Program**:
- High-return, low-risk investment model via **barter agreements**.
- Portfolio includes **EazyDiner, Samast Technologies**, among others.
- Generates long-term value without cash outflow.
6. **Revenue Diversification**:
- Transitioning from **ad-circulation dependency** to **subscription, SaaS, and platform-based models**.
- Target audience expansion from urban English-speaking elites to **mass-market, Tier 2/3, and regional consumers**.
---
### **Competitive Advantages**
- **Brand Trust & Journalistic Credibility**: A cornerstone across all print and digital products.
- **Multi-Platform Ecosystem**: Integrated reach via print, radio, digital, and events.
- **AI & Tech-Driven Innovation**: Deep integration of AI in recruitment (Shine), OTT personalization (OTTplay), and business intelligence (Mosaic).
- **First-Mover Edge in Aggregation**: OTTplay’s **unified login and bundled pricing model** differentiates it in a fragmented market.
- **Niche Audience Targeting**: Radio brands and digital products cater to specific demographics, reducing overlap and enhancing relevance.
---