Entertainment Network India sees strong Q2 growth, digital revenue up 149%

Entertainment Network (India) Limited (ENIL) reported domestic revenues of INR 135.4 crores for Q2 FY26, a 23.7% year-on-year increase. This growth was primarily fueled by its non-FCT business, which grew by 42.2%, and an impressive 149.5% surge in the digital business compared to the previous year. The digital segment now contributes nearly 33% of the existing traditional business, reflecting rapid scaling. EBITDA, excluding digital, stood at INR 20 crores, achieving an EBITDA margin of 19.3%.

The digital business, particularly Gaana, generated approximately INR 20.54 crores in revenue, while digital solutions contributed INR 10.94 crores. Management is targeting a 50:50 revenue mix between radio and non-radio businesses over the next couple of years and anticipates the Gaana business to break even by June-September of next year. The company maintains a strong balance sheet with a cash balance of INR 344.7 crores as of September 30, 2025.

Despite a muted radio advertising segment due to industry-wide slowdowns, ENIL maintained a 25% volume share in the radio market. The company remains cautiously optimistic for single-digit growth in the radio business in coming quarters, while expecting continued stellar results from its events and digital segments.