Balaji Telefilms financials: balance sheet, profit and loss, cash flow

NSE: BALAJITELEBSE: 532382EntertainmentSmall Cap

Balaji Telefilms Limited · Face value ₹2 · Listed Nov 2000

₹85.32₹0.44 (0.52%)BSE ₹85.62

Share price at the NSE close on 28 Oct 2026. Previous close ₹84.88.

28 Oct: open ₹84.80, high ₹85.59, low ₹83.50

52-week range of traded prices to 28 Oct 2026

₹69.52Low, 30 Mar 2026₹132.00High, 6 Nov 2025

Next results date: the board meets on 13 Nov 2026 to consider: financial results. The notice · Results calendar

Market cap: ₹1,040 Cr1,411th largest listed
P/E: Lossover the last 12 months
P/B: 1.67
Dividend yield: Nonein the last 12 months
ROE: −3.3%
ROCE: −5.8%
Debt to equity: 0.02
Volume, NSE: 73,72955.0% delivered

Balaji Telefilms' financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Balaji Telefilms annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹625 Cr, year to Mar 2024; lowest ₹211 Cr, year to Mar 2026A loss in the year to Mar 2026, −₹50 Cr

Operating and net margin, per cent

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue211
Materials and goods−191
Employee costs−35
Other expenses−51
Operating profit−66
Depreciation−6.7
Other income+10
One-off items0.0
Finance costs−1.9
Profit before tax−64
Tax+14
Net profit−50

What the company owns

Plant, investments and other assets₹459 Cr
Inventory₹208 Cr
Current investments₹102 Cr
Receivables₹60 Cr
Cash and bank₹25 Cr

What pays for it: net worth and liabilities

Net worth₹621 Cr
Other liabilities₹117 Cr
Owed to suppliers₹102 Cr
Borrowings₹14 Cr

Balaji Telefilms business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Balaji Telefilms segment results by quarter

Revenue by segment

₹211 CrTotal

Commission Programs₹157 Cr74.4% of total
Digital₹39 Cr18.3% of total
Films₹15 Cr7.3% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Commission Programs
Revenue, ₹ crore
344
421
274
250
367
373
238
157
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
49
83
43
26
72
40
12
−12
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Digital
Revenue, ₹ crore
42
78
61
103
55
46
53
39
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−121
−92
−136
−120
−58
−9
−19
−18
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Films
Revenue, ₹ crore
102
172
43
3
178
218
183
15
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
8
54
10
1
−6
11
4
−31
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	488	672	378	356	600	637	474	211
Company revenue, as in its results	428	574	294	337	593	625	453	211
Revenue	344	421	274	250	367	373	238	157
Revenue growth	–	22.5%	−35.0%	−8.8%	46.9%	1.7%	−36.2%	−34.1%
Profit	49	83	43	26	72	40	12	−12
Profit growth	–	69.2%	−48.2%	−39.7%	179.0%	−44.6%	−69.7%	–
Margin	14.3%	19.7%	15.7%	10.4%	19.7%	10.7%	5.1%	−7.5%
Return on capital	61.3%	138.8%	115.2%	40.1%	168.6%	61.9%	35.8%	−142.8%
Assets	148	181	124	120	163	134	83	90
Liabilities	68	121	86	55	120	70	49	81
Capital employed	80	60	37	65	43	65	34	8
Revenue	42	78	61	103	55	46	53	39
Revenue growth	–	85.7%	−21.4%	67.9%	−46.5%	−16.7%	16.6%	−27.4%
Profit	−121	−92	−136	−120	−58	−9	−19	−18
Margin	−288.5%	−118.5%	−222.3%	−117.2%	−106.2%	−20.4%	−36.2%	−46.6%
Return on capital	−48.9%	−27.4%	−45.0%	−60.9%	−30.9%	−4.8%	−10.2%	−33.5%
Assets	276	376	386	282	237	242	228	82
Liabilities	29	39	84	85	49	46	39	28
Capital employed	247	337	302	198	189	196	190	54
Revenue	102	172	43	3	178	218	183	15
Revenue growth	–	68.6%	−75.1%	−92.0%	–	22.4%	−16.2%	−91.6%
Profit	8	54	10	1	−6	11	4	−31
Profit growth	–	555.2%	−80.9%	−87.4%	–	–	−62.3%	–
Margin	8.1%	31.4%	24.1%	38.0%	−3.2%	5.0%	2.2%	−200.0%
Return on capital	8.6%	37.4%	9.0%	0.7%	−5.2%	11.9%	3.6%	−20.5%
Assets	111	167	131	232	222	244	165	252
Liabilities	15	22	17	41	111	153	51	103
Capital employed	96	145	114	191	111	91	115	149

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Balaji Telefilms quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 4 Jul	Mar 2026Filed 26 May	Jun 2026Twelve monthsFiled 13 Aug
Revenue from operations	421	413	428	574	294	337	593	625	453	211	378
	439	465	533	563	398	459	612	579	467	277	409
Materials and goods bought	–	–	419	450	261	327	511	469	344	191	318
Employee costs	–	–	50	36	25	30	28	30	34	35	33
Other expenses	–	–	64	76	112	101	73	80	89	51	57
Operating profit before depreciation	−18	−52	−105	11	−104	−122	−19	46	−14	−66	−30
Operating margin	−4.3%	−12.5%	−24.6%	1.9%	−35.4%	−36.1%	−3.2%	7.4%	−3.0%	−31.2%	−8.0%
Materials, % of revenue	–	–	98.0%	78.4%	88.9%	97.2%	86.2%	75.0%	75.9%	90.6%	84.1%
Employee costs, % of revenue	–	–	11.6%	6.4%	8.4%	8.9%	4.7%	4.9%	7.5%	16.4%	8.8%
Other expenses, % of revenue	–	–	15.0%	13.3%	38.2%	30.0%	12.2%	12.8%	19.6%	24.2%	15.1%
Depreciation and amortisation	13	18	18	39	29	15	10	8	8	7	6
Operating profit after depreciation	−31	−69	−123	−28	−133	−137	−29	38	−21	−72	−37
Other income	18	19	32	9	13	7	13	6	14	10	10
Finance costs	0	0	0	3	2	2	8	11	3	2	2
Profit before one-off items and tax	−13	−51	−91	−22	−121	−131	−24	33	−10	−64	−28
One-off items	0	−9	0	0	10	0	0	0	0	0	0
Profit before tax	−13	−60	−91	−22	−110	−131	−24	33	−10	−64	−28
	17	−13	6	37	9	2	14	14	−95	−14	−7
Current tax	–	–	7	23	9	2	14	14	0	0	0
Deferred tax	–	–	−1	13	−1	0	0	0	−95	−14	−7
Share of profit of joint ventures and associates	–	0	–	–	–	–	–	–	–	–	–
	−30	−46	−98	−59	−119	−133	−38	19	85	−50	−21
Belonging to the company's shareholders	–	–	−97	−59	−119	−132	−37	20	87	−49	−21
Belonging to outside owners of subsidiaries	–	–	0	0	0	−1	−1	0	−3	−1	–
Other comprehensive income	–	–	0	0	0	0	0	0	0	0	0
Total comprehensive income	–	–	−97	−59	−119	−133	−38	19	85	−49	−21
Net margin	−7.1%	−11.2%	−22.9%	−10.3%	−40.5%	−39.5%	−6.4%	3.1%	18.7%	−23.5%	−5.6%
Net margin without joint ventures and associates	–	−11.2%	–	–	–	–	–	–	–	–	–

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the year to Mar 2017: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the period is a loss, which leaves no share to compare with the company's other periods. Belonging to the company's shareholders is left blank for the year to Mar 2018: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the share count moved by more than 5% across the period.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 4 Jul	Mar 2026Filed 26 May
	761	692	573	445	407	431	655	621
	762	692	573	444	407	431	657	624
Share capital	20	20	20	20	20	20	24	24
Reserves	742	672	553	424	386	411	633	600
Belonging to outside owners of subsidiaries	−1	0	0	1	1	0	−2	−3
	0	0	0	45	100	76	7	14
Repayable after a year	0	0	0	0	0	0	0	0
Repayable within a year	0	0	0	45	100	76	7	14
	119	187	192	233	285	276	145	228
Trade payables	91	119	160	109	130	108	78	102
Other financial liabilities	1	22	4	3	2	2	1	3
Other liabilities	26	38	28	75	51	89	59	109
Provisions	0	0	0	0	1	0	1	1
Tax owed	1	8	0	0	0	0	–	0
	0	8	1	1	2	1	1	5
Other financial liabilities	0	8	1	1	2	0	–	3
Provisions	0	0	0	0	0	1	1	2
Total assets	880	888	767	679	694	709	801	854
	150	134	193	181	196	211	260	261
Plant in use, after depreciation	32	28	21	15	13	16	10	9
Plant being built	1	2	0	0	–	0	1	0
Intangible assets	5	1	5	3	5	3	0	0
Goodwill	1	1	1	4	4	4	3	2
Investments	15	4	15	15	8	8	8	8
Loans given	9	8	2	1	0	4	1	0
Other financial assets	3	0	136	1	8	2	18	21
Deferred tax	20	7	8	8	7	7	102	117
Trade receivables	2	0	0	0	–	–	–	0
Other assets	63	83	5	135	151	167	116	104
	731	754	574	498	499	498	541	593
Inventories	196	156	219	219	196	192	135	208
Trade receivables	99	177	117	113	152	133	93	60
Cash and cash equivalents	19	20	77	12	22	38	11	25
Other bank balances	0	0	0	0	10	1	1	1
Current investments	285	123	28	4	3	23	167	102
Loans given	1	0	10	4	5	4	1	1
Other financial assets	15	61	6	10	1	7	7	8
Other assets	116	217	117	136	110	100	127	189
Net debt	−304	−143	−105	29	65	15	−171	−114

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 4 Jul	Mar 2026Filed 26 May
	−12	−120	−47	66	52	−73
	−18	−111	−24	90	54	−63
	−13	−103	−51	24	39	−22
Receivables	56	6	−39	21	21	33
Inventories	−158	−99	−21	−13	67	−88
Payables	41	−48	21	−23	−30	23
Other working capital	47	38	−12	39	−18	11
Tax paid	6	−8	−24	−24	0	−10
Interest paid	0	0	0	0	−3	0
Capital spending	2	3	5	7	4	3
Free cash flow	−14	−122	−52	59	47	−76
	86	19	13	−18	−137	71
Plant and property sold	0	0	11	0	4	0
Companies bought	0	−2	0	0	0	0
Interest received	5	1	0	0	0	0
	−16	35	44	−32	58	15
Borrowings raised	0	55	52	23	0	7
Borrowings repaid	0	−10	0	−53	−72	−1
Interest paid	−2	0	−4	−3	−1	−1
Lease payments	−15	−6	−4	−2	−2	−3
Dividends paid	0	2	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	131	0
Net change in cash	58	−65	10	16	−27	13

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Balaji Telefilms dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 4 Jul	Mar 2026Filed 26 May
Earnings per share	−₹3.71	−₹4.95	−₹9.63	−₹5.81	−₹11.75	−₹13.09	−₹3.67	₹1.96	₹8.61	−₹4.09
Diluted earnings per share	−₹3.71	−₹4.95	−₹9.63	−₹5.81	−₹11.75	−₹13.09	−₹3.67	₹1.95	₹8.59	−₹4.09
Dividend per share	₹0.40	₹0.40	₹0.40	₹0.40	₹0.20	–	–	–	–	–
Book value per share	–	–	₹75.39	₹68.44	₹56.70	₹43.89	₹40.22	₹42.47	₹54.96	₹51.22
Shareholder yield	–	–	–	–	0.0%	0.3%	0.0%	0.0%	−18.1%	0.0%
Market cap at the year end (₹ crore)	724	1,318	829	382	579	718	375	747	723	853

Ratios

Consolidated, years to March.Balaji Telefilms PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 30 May	Mar 2024	Mar 2025Filed 4 Jul	Mar 2026Filed 26 May
Revenue growth	43.9%	−1.9%	3.5%	34.1%	−48.8%	14.7%	76.0%	5.4%	−27.5%	−53.5%
Net profit growth	–	–	–	–	–	–	–	–	336.4%	–
Earnings per share growth	–	–	–	–	–	–	–	–	340.2%	–
	–	–	−12.8%	−8.1%	−18.8%	−26.0%	−8.7%	4.7%	16.0%	−7.7%
	–	–	–	4.7 pts	−10.7 pts	−7.2 pts	17.3 pts	13.5 pts	11.3 pts	−23.7 pts
From the net margin	–	–	–	7.0 pts	−23.8 pts	0.5 pts	21.9 pts	13.1 pts	24.0 pts	−35.4 pts
From asset turnover	–	–	–	−1.9 pts	14.4 pts	−5.7 pts	−3.5 pts	0.1 pts	−9.4 pts	11.2 pts
From borrowing	–	–	–	−0.4 pts	−1.3 pts	−2.1 pts	−1.0 pts	0.2 pts	−3.3 pts	0.6 pts
Return on capital employed	–	–	−16.2%	−4.1%	−23.1%	−27.9%	−5.8%	7.5%	−3.2%	−11.4%
Cash conversion	–	–	–	–	–	–	–	339.8%	61.2%	–
Interest cover	–	–	–	–	–	–	–	3.6	–	–
Debt to equity	–	–	0.00	0.00	0.00	0.10	0.25	0.18	0.01	0.02
Receivable days	–	–	84	112	145	123	94	78	75	103
Inventory days	–	–	171	126	307	244	140	150	143	397
Payable days	–	–	79	96	224	121	93	84	83	194
Cash conversion cycle, days	–	–	176	142	228	245	140	143	135	306
Working capital days	–	–	262	270	343	319	172	138	181	434
Asset turnover	–	–	0.49	0.65	0.36	0.47	0.86	0.89	0.60	0.25
Assets per rupee of net worth	–	–	1.15	1.22	1.31	1.42	1.61	1.67	1.39	1.29
Sales per rupee of plant	–	–	13.53	20.55	14.01	22.34	44.31	40.23	44.30	22.56
Capital spending to depreciation	–	–	–	–	0.06	0.18	0.49	0.88	0.56	0.52
Plant being built, % of plant in use	–	–	1.7%	6.4%	0.0%	0.0%	–	0.0%	7.9%	0.0%

Interest cover is left blank for the years to Mar 2017, Mar 2018, Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −5.9%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	−3.2%	−6.4%	−29.2%
Return on equity, average	–	−4.3%	4.4%
Return on capital employed, average	–	−8.2%	−2.4%
Operating margin, average	−14.1%	−13.2%	−9.0%
Net margin, average	−14.0%	−9.5%	−0.6%
Asset turnover, average	–	0.62	0.58
Cash conversion cycle, days, average	–	194	195
Debt to equity, average	–	0.11	0.07

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	−122	45	−73
Cash from investing	−50	−83	71
Cash from financing	120	41	15
Capital spending	23	15	3
Dividends paid	2	0	0
Shares bought back	0	0	0
Shares issued for cash	131	131	0
Borrowings raised	137	30	7
Borrowings repaid	136	126	1

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	2	3	4	7	4	0
Altman Z-scorePublished threshold 1.1	13.32	10.22	7.77	5.32	5.17	5.99	10.47	7.40
Beneish M-scorePublished threshold −1.78	–	–	−2.79	−1.13	−2.33	−3.06	−2.40	−1.91
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	−23.31	−4.55	−0.60	−4.10	22.45	−5.82
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.07	0.82
Receivables growth less revenue growthOur threshold 0 percentage points	–	44.69	14.95	−17.84	−41.42	−18.21	−2.87	17.87
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	−27.82	82.80	−25.64	−66.78	6.71	−3.37	98.56
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	25.77	−53.16	6.82	−5.90	−0.44	5.79	29.94
Assets under construction, years of additionsOur threshold 2 years of additions	–	0.05	0.00	0.00	–	0.00	0.36	0.00
Effective tax ratePublished threshold 17.16 per cent	–	–	–	–	–	41.76	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−31.66	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.