Balaji Telefilms films supply Rs 291.47 crore in first half

Balaji Telefilms Limited reported Rs 291.47 crore of films revenue and Rs 64.69 crore of films segment profit before tax for the six months ended September 30, 2026, making films its largest reported operating segment. Films accounted for most of Balaji Telefilms’ Rs 421.44 crore revenue from operations and Rs 69.92 crore total segment result.

What did films contribute to Balaji Telefilms’ first-half revenue?

Films contributed Rs 291.47 crore of revenue in the six months ended September 30, 2026, up from Rs 6.01 crore in the corresponding six months ended September 30, 2025. Balaji Telefilms reported films as its largest segment by revenue, ahead of commissioned programmes at Rs 115.15 crore and digital at Rs 14.82 crore.

The mix changed materially from the prior-year half. Commissioned programmes had been the largest revenue source at Rs 80.15 crore in the six months ended September 30, 2025, while digital delivered Rs 35.48 crore and films delivered Rs 6.01 crore. Total revenue from operations rose to Rs 421.44 crore from Rs 121.64 crore, and the Rs 285.45 crore increase in films revenue was larger than the group-level revenue increase because digital revenue fell.

The segment table reports no inter-segment revenue deduction in either half-year period. Total segment revenue was the same as revenue from operations, at Rs 421.44 crore in the 2026 half and Rs 121.64 crore in the 2025 half. This means the three reported operating segments reconcile directly to Balaji Telefilms’ revenue from operations.

How profitable was Balaji Telefilms’ films segment?

Films generated Rs 64.69 crore of segment profit before tax in the six months ended September 30, 2026, compared with Rs 51,000 in the corresponding 2025 period. It was Balaji Telefilms’ largest source of segment profit, contributing Rs 64.69 crore of total segment results of Rs 69.92 crore before unallocable income and expenses.

Commissioned programmes recorded Rs 13.26 crore of segment profit before tax, compared with a Rs 8.72 crore segment loss a year earlier. Digital recorded a Rs 8.03 crore segment loss before tax, wider than the Rs 5.63 crore loss in the corresponding prior-year half. Films therefore more than offset the digital loss and delivered a higher segment result than commissioned programmes.

After Rs 2.81 crore of other unallocable expenses and Rs 5.76 crore of unallocable income, Balaji Telefilms reported profit before tax of Rs 72.87 crore for the first half. That compares with a loss before tax of Rs 14.36 crore a year earlier, when the combined segment result was a loss of Rs 14.34 crore.

How did films perform in the September quarter?

Films revenue declined sequentially to Rs 106.31 crore in the three months ended September 30, 2026 from Rs 185.16 crore in the preceding three months ended June 30, 2026. Films segment profit before tax nevertheless increased to Rs 41.58 crore in the September quarter from Rs 23.11 crore in the June quarter.

Commissioned-programme revenue increased to Rs 69.69 crore in the September quarter from Rs 45.47 crore in the June quarter, while its segment profit rose to Rs 7.08 crore from Rs 6.18 crore. Digital revenue decreased to Rs 5.15 crore from Rs 9.67 crore, although its segment loss narrowed to Rs 3.92 crore from Rs 4.11 crore.

Films remained the largest contributor to the September-quarter revenue total of Rs 181.15 crore. It also produced Rs 41.58 crore of the Rs 44.74 crore total segment result before Balaji Telefilms included Rs 1.88 crore of unallocable expenses and Rs 1.99 crore of unallocable income in its profit-before-tax calculation.

Balaji Telefilms reported profit after tax of Rs 32.51 crore in the September quarter, compared with Rs 22.39 crore in the June quarter. For the six months ended September 30, 2026, profit after tax was Rs 54.90 crore, against a loss after tax of Rs 10.92 crore in the corresponding prior-year period.

What do films assets and liabilities show at September 30?

Films had Rs 212.03 crore of segment assets and Rs 67.89 crore of segment liabilities as at September 30, 2026, resulting in reported capital employed of Rs 144.14 crore. Film assets were below Rs 252.10 crore at March 31, 2026, while film liabilities decreased from Rs 102.82 crore at that date.

Commissioned programmes had Rs 159.67 crore of assets, Rs 127.76 crore of liabilities and Rs 31.91 crore of capital employed at September 30, 2026. Digital had Rs 71.70 crore of assets, Rs 25.13 crore of liabilities and Rs 46.57 crore of capital employed. Films had the highest reported capital employed among the three operating segments.

At the group level, total assets were Rs 909.33 crore at September 30, 2026, compared with Rs 853.81 crore at March 31, 2026. Trade receivables increased to Rs 108.43 crore from Rs 59.58 crore, while inventories declined to Rs 178.99 crore from Rs 207.72 crore. Cash and cash equivalents were Rs 11.00 crore, down from Rs 24.69 crore at the March year-end.

Conclusion

Balaji Telefilms’ first-half performance was principally driven by films, which supplied Rs 291.47 crore of the group’s Rs 421.44 crore operating revenue and Rs 64.69 crore of its Rs 69.92 crore total segment result. Commissioned programmes returned to a segment profit of Rs 13.26 crore, while digital remained loss-making with a Rs 8.03 crore segment loss.

The filing leaves the durability of the films contribution unresolved after quarterly films revenue fell to Rs 106.31 crore in the September quarter from Rs 185.16 crore in the June quarter, even as segment profit increased. Balaji Telefilms did not disclose a film slate, segment revenue target or digital turnaround plan in the supplied results, leaving future updates on those matters to be watched.