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Earnings Update for Q1 FY27 10 August 2026 Zee Entertainment Enterprises Limited Z
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Zee Entertainment Enterprises Limited Disclaimer Safe Harbor Statement: This Release/Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof. This document should be read in conjunction with the published financial results. Certain analysis undertaken and represented in this document may constitute an estimate or interpretation and may differ from the actual underlying results. Use of Operating Metrics: The operating metrics reported in this presentation are calculated using internal company data. While these numbers are based on what we believe to be reasonable estimates for the applicable period of measurement, there are some inherent challenges in these measurements. The methodologies used to measure these metrics are susceptible to source issues, calculation or other technical errors. We regularly review our processes for calculating these metrics, and from time to time we may discover inconsistencies in our metrics or may make adjustments to improve their accuracy, which can result in adjustments to previously disclosed metrics. In addition, our metrics will differ from estimates published by third parties due to differences in methodology. 2
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Zee Entertainment Enterprises Limited Q1 FY27 Key Performance Highlights Viewership Share: BARC, All 15+ Yrs, (U) ZEE5 Revenue and EBITDA includes Zee’s other digital businesses Shows and Movies (Incl. 15 Originals) Released in Q1 FY27 FCF/ PAT in FY26 Q1 FY27 Operating Revenue; Up 5% YoY Rs 19,073 Mn 1.6x ZEE5 YoY Revenue Growth; Q1 FY27 Revenue Rs 4,571 Mn ‘Z’ Digital business growth momentum continues Continue to invest in new strategic initiatives Q1 FY27 All India TV Network Share; Up 110 bps YoY 17.9% ‘Z’ Network gains share across Hindi and other language markets 3858% Maintaining healthy balance sheet Cash and Cash Equivalent as of Jun’26 Rs 22.1 Bn 3 EBITDA Margin; Q1 FY27 EBITDA of Rs 789 Mn 4.1% ZEE5 Q1 FY27 EBITDA 44 Mn
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Zee Entertainment Enterprises Limited : Continues to Remain Fastest Growing Vertical 4 *Includes the change in estimates of movie rights inventory amortisation pattern **EBITDA excludes costs incurred by the business on ZEEL network; ZEE5 Revenue and EBITDA includes Zee’s other digital businesses Q1 FY27 Impact Releases Q2 FY27 Slate ➢ Stable usage and engagement metrics during the quarter ➢ 38 shows and movies released during the quarter including 15 originals ➢ Sustained positive unit economics driven by growth and operating leverage Key Highlights 2,900 3,108 4,180 4,700 4,571 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 -658 -312 564 -84* 44 Total Revenue (Rs Mn) EBITDA** (Rs Mn) Q1 FY27 revenues up 58% YoY Delivered positive EBITDA after adjusting for the change in movies rights estimates Business delivered positive EBITDA
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Zee Entertainment Enterprises Limited ‘Z’ to Showcase Key FIFA Events for 8 Consecutive Years -2026 to 2034 5 FIFA watch time from LIVE matches on Z5 83% Watch Time (Mins) across platforms ~50 Bn Reach (Live + Non- Live) 400+ Mn 73% Of Indian feel highly positive about ‘Z’ as a brand for bringing the FIFA World Cup 2026 to Viewers in India
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Zee Entertainment Enterprises Limited 6 Z5 Unveiled its Largest Multilingual Content Slate Ever, Spanning Across 7 Languages Click on the image to view the upcoming content slate
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Zee Entertainment Enterprises Limited ‘Z’ Network Achieves Highest Viewership Share in Over 7 years in Week 24 of 2026 7 TV reach & Impression Source: BARC, All India 2+ Yrs, (U + R); Q1FY27 till 2026 Week 24 Impression is defined as the total human-minutes of viewing of content, averaged per minute across total duration. ‘Z’ Network Share Total TV viewership remains stable Industry TV Reach and Impressions 16.8% 17.1% 16.8% 17.4% 16.8% 17.4% 17.9% 20.0% FY23 FY24 FY25 FY26 Q1 FY26 Q4 FY26 Q1 FY27 Week 24 Key Launches in Q1 FY27 Viewership Focus: Zee TV, Zee Marathi and Zee Tamil Monetization Focus: Zee Kannada, Zee Bangla, Zee Sarthak, Zee Punjabi, Zee Telugu & Hindi movies/ Cinema Invest & Grow Strengthen & Monetize All 15+ (U) Tu Hi Re Dil Mein (Zee TV) Drama Juniors S9 (Zee Telugu) Annapurnar Lakkhira (Zee Bangla) Rajo Queen 2026 (Zee Sarthak) Krushnaichya Leki (Zee Marathi) Sa Re Ga Ma Pa Lil Champs (Zee Kannada) 748 731 732 Q1 FY26 Q4 FY26 Q1 FY27 Weekly Reach (mn) 28.4 27.6 27.1 Q1 FY26 Q4 FY26 Q1 FY27 Weekly Impressions (bn)
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Zee Entertainment Enterprises Limited : 4 Hindi and 5 Other Language Movies Released During Q1 FY27 Hindi Movies Other Language Movies 8 Distributed by Zee Studios Distributed by Zee Studios Distributed by Zee Studios Produced & Distributed by Zee Studios Produced & Distributed by Zee Studios Distributed by Zee Studios Produced & Distributed by Zee Studios Distributed by Zee Studios Produced & Distributed by Zee Studios Distributed by Zee Studios Produced & Distributed by Zee Studios Produced & Distributed by Zee Studios Distributed by Zee Studios
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Zee Entertainment Enterprises Limited : Music Label with ~177 Mn Subscribers on YouTube 9 Language Wise Songs Released in Q1 FY27 All ZMC YouTube Channels Video Views & Subscribers Count Hindi & Punjabi, 21% Bhojpuri, 9% Marathi, 8% Telugu, 5% Bengali, 3%Tamil, 3% Others, 50% Q1 FY27 Key Catalogue Additions 168 176 177 62 50 54 Q1 FY26 Q4 FY26 Q1 FY27 Total Subs count (Mn) Total Video Views during the Quarter (Bn) Hindi Other Languages Singles / Albums 7 7 97 Rights Acquired Q1 FY27 Zee Music Company added over 1.5 Mn subscribers during the year on back of new age catalogue
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Zee Entertainment Enterprises Limited Key ESG Highlights: S&P Global ESG Score Placed us in the 96th Percentile Across the Media, Movies & Entertainment; NSE Sustainability Ratings & Analytics Rating Category Placed ‘Z’ as Leader 10 Environmental • The company is evaluating the feasibility of integrating renewable energy solutions. • Sustainability initiatives such as water conservation measures, transition of company-owned vehicles to electric vehicles (EVs), and other resource efficiency programs are being implemented at the corporate level. Governance • All employees successfully completed the mandatory training on the Company's Insider Trading Policy. • The company maintains a robust Information Security Management System (ISMS) aligned with the ISO/IEC 27001:2022 standard. Social • The company organized a comprehensive health screening initiative covering employees and their families, reinforcing its commitment to employee well-being. • The Employee Satisfaction Survey 2026 was successfully conducted, witnessing strong participation across the workforce ‘Z’ ESG initiatives are Committed to People, Planet, and Progress • ‘Z’ achieved a high score of 51 out of 100 S&P Global ESG Corporate Sustainability Assessment 2025 in Media, Movies and Entertainment (M&E) sector. • With this score ‘Z’ surpassed the industry average score of 22 and ranks among the top 5% of global players in the sector. 19 28 44 51 2022 2023 2024 2025 S&P Global ESG score in CSA ESG Rating for FY25 73 Rating Category : Leader Last Updated: 2nd Apr 2026
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Q1 FY27 Financial Performance
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Zee Entertainment Enterprises Limited (INR Million) Q1 FY26 Q4 FY26 Q1 FY27 QoQ YoY Operating Revenue 18,248 20,248 19,073 -6% 5% Expenditure -15,968 -22,934 -18,284 -20% 15% EBITDA 2,280 -2,686 789 -65% EBITDA Margin 12.5% -13.3% 4.1% Adjusted EBITDA 2,280 1,398* 789 -44% -65% Adjusted EBITDA Margin 12.5% 6.9%* 4.1% Other Income 250 763 312 Depreciation -591 -473 -435 Finance cost -77 -149 -132 Fair value through P&L -109 -138 -207 Exceptional Items/ JV & Associate 1 0 0 Profit Before Tax (PBT) 1,972 -2,407 741 -62% Provision for Tax -535 1,370 2 Profit after Tax (PAT) 1,437 -1,037 743 -48% 7,585 8,080 6,714 9,817 10,247 11,369 846 1,921 990 Q1 FY26 Q4 FY26 Q1 FY27 Operating Revenue Breakup (Rs Mn) Advertising Subscription Other Sales & Services Q1 FY27 Middle East Crisis Impacted Advertising Revenue; Partially offset by FIFA performance 12 QoQ YoY 17% 11% 11% 16% 48% 9,710 15,048 10,317 2,201 1,920 2,126 2,752 4,324 4,468 1,305 1,642 1,373 Q1 FY26 Q4 FY26 Q1 FY27 Cost Breakup (Rs Mn) Operating Personnel A&P Others 17% *excluding the change in estimates of movie rights inventory amortisation pattern and additional impairment Figures for the previous year/period have been regrouped and/or reclassified wherever considered necessary Includes the change in estimates of movie rights inventory amortisation pattern and additional impairment
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Zee Entertainment Enterprises Limited Q1 FY27: Pickup in Subscription Revenues Offset by Weak Ad Environment 13 • Increase in programming expenses on account of FIFA 2026 and expanded content offering across platforms • Continue to selectively invest towards growth initiatives (such as KidZ, Bullet, Live, etc.) • Driven by higher linear subscription pricing and growth in digital subscribers along with higher ARPU • Growth in studios business driven by other language movies (“Tumbad Chi Manjula” & “Rakaasa”) • Higher A&P spends due to FIFA 2026 along with the launch of sports channels • Q1 FY27 Advertising revenue : Rs 460 Mn, Subscription revenue : Rs 1,035 Mn, Other Sales & Services : Rs 155 Mn • EBITDA for the quarter came at Rs 789 Mn • EBITDA Margin at 4.1% • Domestic advertising revenue impacted due to Middle East Crisis & Cricket in Q1; Overall revenue down 11% YoY • Witnessed recovery in June with acquisition of FIFA digital & broadcasting rights Advertising revenues Operating Cost Subscription revenues Other Sales & Services revenues A&P and Other expenses International revenue break-up EBITDA
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Zee Entertainment Enterprises Limited Condensed Balance Sheet 14 Assets (INR Million) Mar’26 Jun’26 Non-Current Assets Fixed assets 9,114 8,823 Investments 445 1,701 Other financial assets 547 570 Income tax & Deferred tax assets 9,385 9,288 Others Non-Current Assets 2,290 3,335 Current Assets Inventories 65,123 66,866 Cash and other investments 27,595 22,109 Trade receivables 17,243 17,442 Others financial assets 4,695 5,191 Other current assets 5,507 7,188 Non-current assets - HFS 211 33 Total Assets 1,42,155 1,42,546 Liabilities (INR Million) Mar’26 Jun’26 Equity Capital 1,17,281 1,18,277 Non-Current Liabilities Lease Liab/Other borrowings 1,941 2,343 Provisions 1,413 1,489 Current Liabilities Lease Liab/Other borrowings 710 203 Trade Payables 14,669 14,376 Other financial liabilities 2,084 1,605 Other current liabilities 3,661 3,866 Provisions 253 229 Income tax liabilities 115 129 Liabilities associated with assets- HFS 28 28 Total Equity & Liabilities 1,42,155 1,42,546
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Zee Entertainment Enterprises Limited The Cash & Treasury Investments as of Jun’26 stood at Rs 22,109 Mn 15 S.No Particulars (INR Million) Jun-26 Mutual Fund Investments (A) 1 HDFC Ultra Short-Term Fund - Direct Plan Growth 4,057 2 Tata Ultra Short-Term Fund- Direct Plan- Growth 2,992 3 SBI Magnum Ultra Short Duration Fund - Direct Plan Growth 1,850 4 Aditya Birla Sun Life Savings Fund- Direct Plan- Growth 1,588 5 Bandhan Liquid Fund - Direct Plan Growth 705 6 ICICI Prudential Ultra Short Term Fund - Direct Plan- Growth 610 Total MF (A) 11,800 Fixed Deposits (B) 1 AU Small Finance Bank 2,148 2 ICICI Bank 12 3 HDFC Bank 12 Total (B) 2,172 FDs of other subsidiaries (C) 3,772 Total Investments (A+B+C) 17,744 Bank balance and other treasury investments (D) 4,364 Grand Total (A+B+C+D) 22,109 *The cash & treasury investments as of Mar’26 stood at Rs 22,109 Mn, including Mutual Fund of Rs 11,800 Mn, Bank FDs of Rs 5,944 Mn and Cash balance and other treasury investments of Rs 4,364 Mn.
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Zee Entertainment Enterprises Limited Content Inventory and Advances increase was driven by Investment in Content 64% 64% 64% 72% 71% 62% 14% 14% 14% 13% 13% 15% 11% 13% 16% 12% 13% 17% 12% 8% 7% 4% 4% 7% FY22 FY23 FY24 FY25 FY26 Jun'26 Content Advances Movies Production, Music & Others Shows Movies Rights Increased by Rs 4.2 Bn during Q1 FY27Rs 72.5 Bn Rs 79.6 Bn Rs 70.5 Bn Rs 74.2 Bn 16 Rs 67.6 Bn Rs 71.8 Bn
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Yours Truly