Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹127Cr
Entertainment - Electronic Media
Rev Gr TTM
Revenue Growth TTM
-5.79%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

SAMBHAAV
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% | 3.2 | -31.6 | 10.0 | 2.8 | 13.3 | 37.6 | 8.9 | 6.7 | -16.6 | 1.0 | -5.6 | 1.1 |
| 11 | 8 | 8 | 8 | 10 | 8 | 10 | 9 | 10 | 8 | 8 | 10 |
Operating Profit Operating ProfitCr |
| 5.4 | -15.7 | 14.8 | 20.4 | 24.2 | 13.3 | 9.6 | 18.6 | 11.6 | 10.8 | 17.3 | 14.7 |
Other Income Other IncomeCr | 1 | 0 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| -2 | -3 | 0 | 1 | 2 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
|
Growth YoY PAT Growth YoY% | -5,700.0 | -2,175.0 | -110.0 | 322.2 | 198.2 | 91.8 | 38.1 | -17.5 | -105.0 | -86.7 | -223.1 | -33.3 |
| -19.5 | -27.4 | -2.1 | 3.8 | 16.9 | -1.6 | -1.2 | 3.0 | -1.0 | -3.0 | -4.2 | 1.9 |
| -0.1 | -0.1 | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 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 |
|---|
|
| | 31.3 | 7.7 | 22.4 | 5.3 | 13.8 | -12.9 | -19.3 | 18.7 | -0.9 | 4.8 | -0.9 |
| 16 | 26 | 27 | 32 | 35 | 43 | 37 | 34 | 35 | 34 | 36 | 36 |
Operating Profit Operating ProfitCr |
| 30.0 | 15.8 | 19.0 | 19.6 | 17.9 | 10.2 | 12.6 | 1.0 | 13.1 | 14.3 | 13.3 | 13.7 |
Other Income Other IncomeCr | 1 | 8 | 4 | 4 | 3 | 4 | 3 | 3 | 3 | 3 | 2 | 1 |
Interest Expense Interest ExpenseCr | 3 | 2 | 3 | 2 | 2 | 3 | 3 | 2 | 3 | 2 | 1 | 1 |
Depreciation DepreciationCr | 2 | 2 | 3 | 4 | 4 | 6 | 7 | 5 | 6 | 5 | 6 | 5 |
| 3 | 8 | 5 | 6 | 4 | 0 | -2 | -4 | 0 | 1 | 1 | 0 |
| 0 | 3 | 1 | 2 | 1 | 0 | 0 | -1 | 1 | 0 | 0 | 1 |
|
| | 56.8 | -39.8 | 21.4 | -36.6 | -79.7 | -417.2 | -78.5 | 57.9 | 212.3 | -77.6 | -288.3 |
| 15.2 | 18.1 | 10.2 | 10.1 | 6.1 | 1.1 | -3.9 | -8.7 | -3.1 | 3.5 | 0.8 | -1.4 |
| 0.2 | 0.4 | 0.2 | 0.2 | 0.1 | 0.0 | -0.1 | 0.0 | -0.1 | 0.0 | 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 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 15 | 15 | 16 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| 36 | 41 | 53 | 65 | 67 | 68 | 66 | 66 | 63 | 64 | 65 | 64 |
Current Liabilities Current LiabilitiesCr | 18 | 20 | 20 | 13 | 21 | 20 | 17 | 14 | 15 | 10 | 9 | 7 |
Non Current Liabilities Non Current LiabilitiesCr | 5 | 2 | 8 | 4 | 4 | 11 | 10 | 7 | 10 | 7 | 6 | 6 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 31 | 37 | 24 | 20 | 27 | 39 | 40 | 42 | 41 | 34 | 31 | 32 |
Non Current Assets Non Current AssetsCr | 42 | 41 | 74 | 81 | 84 | 79 | 73 | 65 | 69 | 69 | 70 | 66 |
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 | 5 | 5 | 10 | 9 | -3 | 12 | 6 | 9 | 4 | 16 | 21 |
Investing Cash Flow Investing Cash FlowCr | 1 | 4 | -26 | -5 | -7 | -7 | -2 | -2 | -6 | -8 | -18 |
Financing Cash Flow Financing Cash FlowCr | -5 | -6 | 15 | -3 | 9 | -6 | -5 | -8 | 1 | -8 | -3 |
|
Free Cash Flow Free Cash FlowCr | 5 | 6 | -17 | 2 | -10 | 5 | 5 | 8 | -2 | 8 | 18 |
| 142.6 | 85.4 | 305.3 | 228.7 | -99.2 | 2,268.7 | -388.2 | -311.8 | -347.9 | 1,167.6 | 6,676.4 |
CFO To EBITDA CFO To EBITDA% | 72.1 | 98.0 | 163.1 | 117.3 | -33.6 | 241.4 | 121.4 | 2,783.9 | 82.4 | 286.5 | 374.4 |
| 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 | 46 | 69 | 103 | 176 | 82 | 32 | 38 | 78 | 48 | 96 | 101 |
Price To Earnings Price To Earnings | 13.1 | 12.4 | 30.2 | 43.8 | 33.1 | 56.3 | 0.0 | 0.0 | 0.0 | 166.7 | 0.0 |
Price To Sales Price To Sales | 2.0 | 2.2 | 3.1 | 4.3 | 1.9 | 0.7 | 0.9 | 2.3 | 1.2 | 2.4 | 2.4 |
Price To Book Price To Book | 1.1 | 1.4 | 1.6 | 2.1 | 0.9 | 0.4 | 0.5 | 0.9 | 0.6 | 1.1 | 1.2 |
| 8.9 | 16.3 | 18.8 | 22.6 | 12.8 | 9.0 | 10.8 | 276.9 | 12.6 | 18.9 | 20.0 |
Profitability Ratios Profitability Ratios |
| 71.4 | 51.2 | 55.4 | 63.6 | 64.0 | 61.7 | 62.7 | 53.1 | 56.6 | 60.1 | 62.0 |
| 30.0 | 15.8 | 19.0 | 19.6 | 17.9 | 10.2 | 12.6 | 1.0 | 13.1 | 14.3 | 13.3 |
| 15.2 | 18.1 | 10.2 | 10.1 | 6.1 | 1.1 | -3.9 | -8.7 | -3.1 | 3.5 | 0.8 |
| 9.0 | 15.2 | 8.5 | 9.0 | 5.6 | 3.0 | 0.9 | -2.1 | 2.3 | 3.6 | 1.7 |
| 7.1 | 10.0 | 4.8 | 4.8 | 3.0 | 0.6 | -1.9 | -3.5 | -1.5 | 1.7 | 0.4 |
| 4.9 | 7.2 | 3.4 | 4.0 | 2.3 | 0.4 | -1.5 | -2.8 | -1.1 | 1.4 | 0.3 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Company Overview**
Sambhaav Media Limited (SML), incorporated in 1990 and founded in 1986 as a print publication, is a pioneering and fully integrated media enterprise based in Gujarat, India. It is the only media company from Gujarat with a comprehensive presence across **print, electronic, and digital media platforms**. Guided by the founding philosophy of *“Do NOT sensationalize, Sensitize”* by journalist Bhupatbhai Vadodaria, SML has evolved into a diversified media powerhouse under the leadership of **Mr. Manoj B. Vadodaria**, who serves as Chairman & Managing Director.
Sambhaav Media operates under a strategic **integrated print-to-digital business model**, offering financial resilience through diversified revenue streams and hedging against market volatility. The company exemplifies innovation by blending traditional journalism with cutting-edge technology and digital transformation.
---
### **Business Segments & Platforms**
#### **1. Print Media**
- **Sambhaav Metro**: An Ahmedabad-based afternoon daily offering infotainment through local news, business, entertainment, lifestyle, and light reading. It has built a loyal urban readership via reader-friendly content and community engagement.
- **Abhiyaan Magazine**: A leading Gujarati weekly magazine with strong circulation among affluent and progressive Gujarati communities in India and globally (UK, USA, Australia). Known for bold socio-political coverage and contemporary features on youth, health, fashion, and lifestyle.
- Digital presence reinforced via **www.abhiyaanmagazine.com** and robust social media engagement.
#### **2. Electronic Media**
- **VTV Gujarati**: A **24x7 Gujarati news channel**, recognized as a market leader in regional electronic media. It was Gujarat’s first standard-definition (SD) and later upgraded to HD, with studios enhanced using state-of-the-art broadcasting technology.
- Produces over **170 news items daily**, maintaining editorial neutrality and high credibility.
- Available on leading **OTT platforms** and reaches international audiences in Africa, Europe, and Australia.
- Inaugurated by the Chief Minister of Gujarat in 2019 post-technology upgrade.
- **FM Radio Network**:
- Operates **13 FM radio stations** across Gujarat (Bhavnagar, Jamnagar, Junagadh, Porbandar, Mehsana, Bharuch, Godhra, etc.) and in **Jammu & Kashmir (Kathua, Poonch, Leh, Kargil)**.
- Focuses on **hyper-local content, grassroots storytelling**, and listener analytics.
- Leverages **radio automation software** for 24/7 operations, reducing costs and enabling innovation in programming.
- **Top FM** targets Tier II and III cities, launching **Top Music Awards**—a pioneering regional event with strong audience traction.
- **WISE TV**: India’s **first in-transit television channel**, installed on over **8,300 GSRTC buses** and at 100 depots. Provides entertainment and public service content to an estimated **2 million+ passengers daily**.
#### **3. Digital Media & Technology**
- **Digital Platforms**:
- **www.vtvgujarati.com** – A leading Gujarati digital news platform attracting over **95 lakh unique users monthly** as of 2025 (up from 60 lakh in 2022).
- **www.sambhaav.com**, **www.topfm.in**, **www.vtvnews.co.in**
- Over **1 million followers each on Facebook and YouTube** for VTV Gujarati.
- Achieved **more than double year-on-year growth** in digital traffic, becoming one of Gujarat’s top digital news brands.
- Generates **4 crore+ page views** and **14 crore+ YouTube impressions monthly**.
- **Mobile Applications**: Native iOS and Android apps enhance user engagement and support mobile-first content consumption.
- **AI & Digital Transformation**:
- Implements **AI-driven content curation**, real-time analytics, and automated dashboards.
- Expanding **e-paper access** and investing in **data-driven storytelling** to strengthen multimedia integration.
- **GPS & Public Information Systems**:
- Developed and operates an **Integrated Vehicle Tracking & Passenger Information System (IVT & PIS)** for **GSRTC**.
- Deployed across **8,300+ buses and 100 bus depots**.
- Provides real-time tracking, arrival/departure updates, safety alerts, and cultural content.
- Contract initially implemented in 2016 (5+3 year term) and consistently renewed; serves as a stable cash-flow generator.
- Holds **exclusive marketing rights** for LED displays across GSRTC buses and depots.
- Aims to replicate this model with other state transport corporations nationwide.
---
### **Strategic Diversification & Subsidiaries**
Sambhaav Media has extended beyond core media through strategic diversification:
- **Ved Technoserve Pvt. Ltd.**: Wholly-owned subsidiary engaged in non-media ventures.
- Executed a **pilot project for an Electric Smart Power Fence** at **Pathankot Airbase** for **Bharat Electronics Limited (BEL)**.
- Potential rollout to **22 Indian Air Force bases** and **150+ airports** across India—positioning SML as a player in **national security infrastructure**.
- **Sambhaav Nascent LLPP**: Joint venture focused on digital platform development; instrumental in scaling regional digital content and entertainment.
---
### **Operational & Market Strength**
- **Geographic Reach**: Strong saturation in Gujarat, with expansion into **Jammu & Kashmir and Ladakh**, enhancing regional and cultural relevance.
- **Urban & Rural Penetration**: Balances urban-centric brands (Sambhaav Metro) with rural-connect programming (FM Radio, in-transit media).
- **Ad Revenue & Stability**:
- **Advertising** contributes high-margin revenues.
- **GSRTC contracts** ensure reliable, time-bound cash collection.
- FM radio generates **~60% of total revenue** through differentiated programming and SME-focused advertising solutions.
- **Cross-Media Integration**: Unified editorial strategy across platforms amplifies impact and strengthens brand coherence.
---
### **Leadership & Governance**
- **Mr. Manoj B. Vadodaria** – Chairman & MD, driving the company’s evolution into a multi-platform media and tech enterprise.
- **Kiran B. Vadodaria** – Former CMD; led 15-year transformation from print to digital and electronic media.
- **Amit Kumar Ray** – Whole-Time Director since 2013; brings 30+ years of experience from McCann Erickson, Reliance Infocomm; expert in media planning and advertising.
- Professional board and management ensure scalable, future-ready strategy.
---
### **Financial & Market Recognition**
- Included in the **Nifty Waves Index**, reflecting market credibility and leadership in **innovative media solutions**.
- Stable revenue mix: **Advertising (high margin) + Government Contracts (GSRTC – stable cash flow)**.
- Ongoing **digital monetization**, content syndication, OTT distribution, and smart speaker/voice-based audio expansion.