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Zee Entertainment Enterprises

ZEEL NSE
₹67.87 No trade today
P/E
32.17
View as Markdown
MCP
Close 4 Nov 2026 ₹67.87 −31.94 −32.0% 1Y
Start ₹99.81

Key Fundamentals

MicrocapEntertainmentMedia Entertainment & Publication

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
2.72%
Debt to Equity
0.02
EPS (TTM)
₹2.11
Book Value
₹129.15
Market Cap
—
P/E (TTM)
32.17
P/B
0.53
ROE
2.40%
Dividend Yield
3.24%
EBITDA
₹545 Cr
52W High
₹118.35
52W Low
₹60.60
Volume
0

Peer Comparison

Consumer Discretionary › Media › TV Broadcasting & Media › TV Broadcasting & Software Production

Zee Entertainment peer comparison
Sun TV Network
₹601.6515.51₹23,413 Cr1.761.49%12.20%16.40%₹4,502 Cr₹1,530 Cr
Zee Entertainment (this company)
₹67.8732.17₹5,846 Cr0.533.24%2.40%2.72%₹8,181 Cr₹201 Cr
Hathway Cable & Datacom
₹9.3024.47₹1,625 Cr0.370.00%1.90%2.62%₹2,215 Cr₹68 Cr
Den Networks
₹25.698.21₹1,188 Cr0.320.00%1.17%3.23%₹967 Cr₹148 Cr
New Delhi Television
₹65.08—₹701 Cr—0.00%—−72.60%₹538 Cr−₹335 Cr
GTPL Hathway
₹54.24—₹617 Cr0.543.70%1.44%3.47%₹4,015 Cr−₹5 Cr
TV Today Network
₹102.4635.58₹605 Cr0.672.99%2.11%4.49%₹818 Cr₹17 Cr
Median 7 companies₹65.0824.47₹1,188 Cr0.541.49%2.01%3.23%₹2,215 Cr₹68 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

41 Weak

Data confidence 100/100

Category scores

Quality
49
Average
Returns, margins, earnings quality 22% weight
Valuation
69
Strong
Cheap vs sector & own history 24% weight
Growth
18
Poor
Sales & profit trajectory 9% weight
Financial Health
57
Good
Solvency, leverage, coverage 9% weight
Momentum
11
Poor
Trend strength, vol-adjusted 12% weight
Ownership
25
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is almost debt free.
  • Stock is trading at 0.61 times its book value
  • Company has been maintaining a healthy dividend payout of 57.6%

Weaknesses

5
  • The company has delivered a poor sales growth of 0.94% over past five years.
  • Promoter holding is low: 3.99%
  • Tax rate seems low
  • Company has a low return on equity of 3.73% over last 3 years.
  • Earnings include an other income of Rs.143 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1045
OscillatorsBullish243
Moving AveragesStrong Bearish802

Key readings

RSI (14)
44.65
Neutral
MACD (12,26,9)
−3.73
Bullish
SMA (50)
78.48
Bearish
SMA (200)
89.12
Bearish

As of

Analyst Rating

Based on 13 analysts
TIED46%

6 of 13 analysts rate Buy, 1 Hold, 6 Sell.

As of

BUY
6
46%
HOLD
1
8%
SELL
6
46%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+3.37%
5Y+0.94%
3Y+0.05%
1Y−2.35%
TTM+2.40%

Net profit

Net profit growth by window
10Y−10.52%
5Y−19.32%
3Y+78.06%
1Y−60.15%
TTM−71.49%

Operating cash flow

Operating cash flow growth by window
10Y−0.32%
5Y−14.48%
3Y+76.39%
1Y−39.02%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−19.62 pp
5Y−15.85 pp
3Y−8.76 pp
1Y−9.68 pp
TTM−11.60 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹6,434 Cr
Mar 2018₹6,686 Cr
Mar 2019₹7,934 Cr
Mar 2020₹8,130 Cr
Mar 2021₹7,730 Cr
Mar 2022₹8,186 Cr
Mar 2023₹8,088 Cr
Mar 2024₹8,637 Cr
Mar 2025₹8,294 Cr
Mar 2026₹8,099 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹2,220 Cr
Mar 2018₹1,478 Cr
Mar 2019₹1,567 Cr
Mar 2020₹525 Cr
Mar 2021₹793 Cr
Mar 2022₹956 Cr
Mar 2023₹48.00 Cr
Mar 2024₹141 Cr
Mar 2025₹680 Cr
Mar 2026₹271 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹145 Cr +34.2% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

Zee Entertainment Enterprises Ltd has a market cap of Rs.11,031 Cr trading at 0.92x book value with a PE of 39.8x. The company is nearly debt-free with a 2.17% dividend yield, but faces stagnant revenue growth (0% CAGR over 3 years) and a sharp 63% TTM profit decline, while promoter holding stands at just 3.98%.

Bull Case 7
  • Company is almost debt-free, providing financial flexibility and lower interest burden in a capital-intensive media sector
  • Stock trades at 0.92x book value, significantly below replacement cost, indicating potential deep value if operations stabilize
  • Healthy dividend payout of 57.7% with a current yield of 2.17%, offering income to shareholders despite earnings volatility
  • 3-year compounded profit CAGR of 95% shows the company has demonstrated ability to recover earnings from a low base
  • 10-year compounded sales CAGR of 3% indicates the underlying business has maintained a baseline revenue stream over a long period
  • Near-zero debt-to-equity ratio reduces bankruptcy risk and gives the company room to invest in content or pursue strategic options
  • PE of 39.8x on depressed TTM earnings (down 63%) implies normalized earnings power could be substantially higher than current levels suggest
Bear Case 8
  • TTM profit has declined 63%, indicating severe earnings deterioration in the most recent period
  • Promoter holding at just 3.98% is extremely low, raising governance concerns and reducing promoter skin-in-the-game
  • 5-year compounded sales growth of just 0.94% shows structural revenue stagnation in a competitive media landscape
  • Return on equity of just 2% in the last year and 3.74% over 3 years signals poor capital efficiency and weak profitability
  • Stock CAGR of -24% over 3 years and -14% over 10 years reflects persistent long-term value destruction for shareholders
  • Earnings include other income of Rs.137 Cr, meaning core operating profitability is weaker than headline numbers suggest
  • 5-year compounded profit CAGR of -21% shows a multi-year trend of declining earnings power, not a one-off event
  • 10-year ROE averaging 9% but declining to 4% over recent 3-5 year periods indicates a business in structural decline in return generation

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: ZEEL faces significant governance risk after SEBI's fraud finding and debarment of promoters for up to 12 months, which overshadows the positive signal from shareholder-approved promoter warrants and RBI's FCCB redemption clearance. The FCCB resolution reduces balance sheet uncertainty, but the SEBI action raises fresh questions about corporate governance and promoter credibility. Near-term sentiment likely remains under pressure until clarity emerges on the SEBI order's impact on ongoing operations and promoter participation.

Headwinds 1
  • SEBI debars promoters for fraud Aug 2

    SEBI debarred ZEEL, Punit Goenka, and Subhash Chandra from securities markets for up to 12 months and imposed ₹1.48 crore in penalties for fraudulently pledging ZEEL's Hyderabad land to secure loans for related entities without board approval or disclosure.

Positives 2
  • RBI approves FCCB redemption Jul 13

    RBI approved redemption of USD 23.90 million in FCCBs and cancellation of USD 215.1 million in unutilized commitment, reducing foreign currency liability overhang.

  • Shareholders approve promoter warrants Jul 31

    Shareholders greenlit issuance of warrants to the promoter group on preferential terms, signaling promoter intent to strengthen stake through warrant conversion.

Neutral 1
  • IP infringement case vs Blink Commerce Jul 30

    Zee moved High Court alleging infringing content by Blink Commerce on Instagram; next hearing scheduled for August 14.

Quarterly Results

₹ Cr
ZEEL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
1,984
2,438
2,046
2,170
2,131
2,001
1,979
2,184
1,825
1,969
2,280
2,025
1,907
2,225
Expenses
1,825
2,105
1,837
1,960
1,860
1,678
1,658
1,886
1,586
1,810
2,024
2,280
1,808
2,139
Operating Profit
159
333
209
210
270
323
321
298
239
159
256
−255
100
86
OPM %
8%
14%
10%
10%
13%
16%
16%
14%
13%
8%
11%
−13%
5%
3.9%
Other Income
−113
−55
−27
−11
−17
45
−46
36
25
26
9
76
31
23
Interest
23
23
18
7
6
8
11
8
8
13
9
15
13
3
Depreciation
79
77
76
77
76
73
66
64
59
57
54
47
44
43
PBT
−57
177
87
114
172
286
198
262
197
115
202
−241
74
63
Tax %
−6%
31%
33%
88%
31%
27%
17%
28%
27%
34%
23%
−57%
0%
28%
Net Profit
−53
123
58.54
13
118
209
164
188
144
76
155
−104
74
46
EPS (₹)
−0.56
1.28
0.61
0.14
1.23
2.18
1.7
1.96
1.5
0.8
1.62
−1.08
0.77
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
ZEEL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,884
5,812
6,434
6,686
7,934
8,130
7,730
8,186
8,088
8,637
8,294
8,099
8,181
Expenses
3,624
4,386
4,711
4,605
5,370
6,870
6,123
6,409
6,981
7,726
7,082
7,700
7,922
Operating Profit
1,260
1,427
1,723
2,081
2,564
1,260
1,606
1,777
1,107
911
1,212
399
259
OPM %
26%
25%
27%
31%
32%
15%
21%
22%
14%
11%
15%
4.9%
3.2%
Other Income
222
183
1,430
565
236
112
−29
−111
−459
−206
17
137
143
Interest
10
160
137
145
130
145
57
44
70
72
33
45
50
Depreciation
67
78
115
182
235
271
265
221
313
309
278
217
202
PBT
1,404
1,373
2,901
2,319
2,434
956
1,256
1,400
264
323
918
273
150
Tax %
31%
40%
23%
36%
36%
45%
37%
32%
82%
56%
26%
1%
—
Net Profit
972
824
2,220
1,478
1,567
525
793
956
48
141
680
271
202
EPS (₹)
10.18
8.57
23.13
15.4
16.32
5.48
8.33
10.04
0.5
1.47
7.07
2.84
2.11
Div. Payout %
22%
26%
11%
19%
21%
5%
30%
30%
0%
68%
34%
70%
—

Balance Sheet

₹ Cr
ZEEL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
96
96
96
96
96
96
96
96
96
96
96
96
Reserves
3,435
4,708
6,594
7,466
8,828
9,248
9,998
10,767
10,626
10,777
11,437
11,634
Borrowings
2,021
1,716
2,203
1,526
1,114
650
423
76
282
230
321
265
Other Liabilities
1,454
1,446
1,364
2,042
2,895
2,424
2,301
2,300
2,724
2,347
1,880
2,220
Total Liabilities
7,006
7,966
10,258
11,130
12,933
12,418
12,819
13,240
13,728
13,450
13,734
14,216
Fixed Assets
1,138
1,333
916
1,476
1,414
1,315
1,191
1,225
1,360
1,204
1,005
906
CWIP
88
110
156
92
156
83
75
87
19
10
1
6
Investments
976
1,148
1,343
1,529
976
325
798
65
35
39
1,195
1,275
Other Assets
4,805
5,375
7,843
8,033
10,386
10,695
10,754
11,862
12,315
12,197
11,533
12,029
Total Assets
7,006
7,966
10,258
11,130
12,933
12,418
12,819
13,240
13,728
13,450
13,734
14,216

Cash Flow

₹ Cr
ZEEL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
681
731
741
554
135
250
1,548
280
129
714
1,161
708
Investing
−165
16
1,325
−1,041
864
397
−511
586
−202
−46
−1,576
−291
Financing
−343
−405
−414
−1,090
−966
−1,062
−541
−715
−408
−274
23
−339
Net Cash Flow
173
342
1,652
−1,577
33
−415
496
150
−481
395
−393
77
Free Cash Flow
572
459
515
300
−146
105
1,374
51
−127
606
1,073
553
CFO/OP
87
92
83
67
42
45
128
44
47
105
102
229

Ratios

ZEEL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
80
85
70
84
84
96
92
77
73
72
67
78
Inventory Days
—
—
—
526
617
624
644
824
877
663
—
—
Days Payable
—
—
—
230
239
196
167
177
210
138
—
—
Cash Conversion Cycle
80
85
70
380
463
524
569
725
740
597
67
78
Working Capital Days
152
147
151
180
236
294
295
340
352
326
335
322
ROCE %
27%
26%
24%
26%
27%
14%
14%
16%
8%
6%
9%
3%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Zee Entertainment insights

64 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 46.59%
  • Others 24.00%
  • FIIs 18.08%
  • DIIs 7.33%
  • Promoters 3.99%

5.38% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Zee Entertainment Enterprises

What does Zee Entertainment Enterprises Ltd do?
Zee Entertainment Enterprises is mainly in the following businesses: Broadcasting of Satellite Television Channels, Space Selling agent for other satellite television channels, and Sale of Media Content i.e. programs / film rights / feeds /music rights.
Where is Zee Entertainment Enterprises Ltd (ZEEL) listed?
Zee Entertainment Enterprises Ltd trades as ZEEL on the NSE and under code 505537 on the BSE.
Which sector does Zee Entertainment Enterprises Ltd belong to?
Zee Entertainment Enterprises Ltd is classified under the Media sector, in the TV Broadcasting & Media industry.
What is the PE ratio of Zee Entertainment Enterprises Ltd?
Zee Entertainment Enterprises Ltd trades at a PE ratio of 32.17 as of 4 Nov 2026, on earnings per share of ₹2.11, against a book value of ₹129.15 per share.
What is the 52-week high and low of Zee Entertainment Enterprises Ltd?
Over the last 52 weeks Zee Entertainment Enterprises Ltd has traded between ₹60.6 and ₹118.35 as of 4 Nov 2026.
Does Zee Entertainment Enterprises Ltd pay dividends?
Zee Entertainment Enterprises Ltd has a dividend yield of 3.24%.
What is the Return on Equity (ROE) of Zee Entertainment Enterprises Ltd?
Zee Entertainment Enterprises Ltd reported a return on equity of 2.40%. Its debt-to-equity ratio is 0.02.

Company Information

Zee Entertainment Enterprises is mainly in the following businesses: Broadcasting of Satellite Television Channels, Space Selling agent for other satellite television channels, and Sale of Media Content i.e. programs / film rights / feeds /music rights.

Website zee.com
CEO Mr. Punit Goenka B.Com.
Employees 2,486
Listed 25 Nov 1993
Face Value ₹1

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