Hathway Bhawani FY26 results: revenue down, loss returns

Key takeaway from the FY26 audited results

Hathway Bhawani Cabletel & Datacom Limited has reported a consolidated net loss for FY26, reversing a small profit recorded in the previous year. The company announced its audited financial results for the quarter and year ended March 31, 2026, after a board meeting held on April 14, 2026. The filing was made to BSE Limited under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Alongside the financial results, the company disclosed an ownership change in a group entity, with Hathway Bhawani NDS Network Limited becoming a wholly owned subsidiary during the quarter. The auditors issued unmodified opinions on both consolidated and standalone results. Separately, the company also filed a quarterly compliance certificate confirming that there were zero dematerialisation requests during January to March 2026.

Board meeting details and regulatory filing

The board meeting to consider and approve the audited financial results commenced at 4:15 p.m. and concluded at 4:55 p.m. The results were reviewed and approved by the Board of Directors and were duly recommended by the Audit Committee. The company said the audited results were submitted to BSE.

The filing also carried standard corporate disclosures, including the security code and signatory information. The financial results were signed by Priya Bhagat, Company Secretary and Compliance Officer. The company’s equity shares are listed under security code 509073.

Consolidated performance: revenue slips and FY26 turns to loss

On a consolidated basis, revenue from operations for FY26 declined to ₹2.3853 crore from ₹2.5680 crore in FY25. Total income for FY26 stood at ₹2.4189 crore, compared with ₹2.7517 crore in the previous year. For Q4FY26, revenue from operations was ₹0.5974 crore versus ₹0.7736 crore in Q4FY25.

The company reported a consolidated net loss of ₹0.1698 crore for FY26, compared with a profit of ₹0.0433 crore in FY25. For Q4FY26, consolidated net loss was ₹0.1753 crore, compared with a profit of ₹0.2332 crore in Q4FY25. Earnings per share for FY26 were reported at ₹(0.21), versus ₹0.05 in FY25.

Cost structure and expense trends in FY26

Total expenses on a consolidated basis for FY26 were ₹2.4459 crore, compared with ₹2.6829 crore in FY25. The company’s disclosure included major expense heads for FY26 such as feed charges of ₹0.9146 crore, employee benefit expenses of ₹0.4013 crore, and other expenses of ₹0.7336 crore.

Even with lower total expenses year-on-year, the reported results show that the decline in revenue and the overall cost mix resulted in a net loss for FY26. The expense split indicates that content or feed-related costs and operating expenses remained meaningful components of the annual cost base.

Standalone results: exceptional items deepen FY26 loss

On a standalone basis, revenue from operations for FY26 was ₹2.3377 crore, down from ₹2.5680 crore in FY25. For Q4FY26, standalone revenue from operations stood at ₹0.5498 crore, compared with ₹0.7736 crore in Q4FY25.

Standalone results included exceptional items of ₹0.3968 crore in Q4FY26 and the same ₹0.3968 crore for FY26. The company reported a standalone net loss of ₹0.4133 crore for FY26, compared with a profit of ₹0.0529 crore in FY25. For Q4FY26, standalone net loss was ₹0.4195 crore versus a profit of ₹0.2337 crore in Q4FY25. Standalone earnings per share for FY26 were ₹(0.51), compared with ₹0.07 in FY25.

Acquisition: NDS Network becomes a wholly owned subsidiary

During the quarter, Hathway Bhawani Cabletel & Datacom acquired the remaining 49% equity stake in Hathway Bhawani NDS Network Limited. This made the entity a wholly owned subsidiary of the company. The disclosure noted that the entity had been treated as a joint venture until February 5, 2026, and became a subsidiary from February 6, 2026.

The acquisition involved 15,190 equity shares for a consideration of ₹0.0015 crore. The update provides clarity on the group structure as of the end of FY26, which can matter for how results are consolidated and how minority interests are treated going forward.

Auditor’s opinion on the audited results

Nayan Parikh & Co., Chartered Accountants, issued unmodified opinions on both the consolidated and standalone audited financial results. The auditors stated that the results comply with Indian Accounting Standards and present a true and fair view of the company’s financial position.

An unmodified opinion indicates that, based on the audit, the auditors did not identify material misstatements requiring qualification. The company’s filing highlighted this conclusion for both sets of financial statements.

Litigation and regulatory matter: DoT demand notices

The company disclosed that it continues to face show cause cum demand notices from the Department of Telecommunications for licence fees amounting to ₹41.3038 crore. The notices cover multiple financial years, including 2005-06 to 2007-08 and 2009-10 to 2014-15.

Based on legal expert opinion, the company stated that no provision is necessary for this matter. This disclosure is relevant because such demands, if eventually upheld, can represent a large financial exposure relative to the company’s reported annual revenue levels.

Compliance update: zero dematerialisation requests in Jan-Mar 2026

Hathway Bhawani Cabletel & Datacom also filed its quarterly compliance certificate with BSE on April 7, 2026. The certificate covered the reporting period from January 1, 2026 to March 31, 2026, and confirmed zero dematerialisation requests for equity shares during the quarter.

The filing was made under SEBI Regulation 74(5) and was validated by registrar KFin Technologies Limited. The update was signed by Priya Bhagat, the company’s compliance officer, as part of periodic regulatory reporting.

Snapshot of reported numbers and key events

Why these disclosures matter for investors

The FY26 audited numbers show a shift from a small profit to a consolidated loss, with revenue from operations also declining year-on-year. The standalone results highlight the impact of exceptional items, which contributed to a larger reported loss at the standalone level.

The subsidiary acquisition is also a meaningful corporate action because it changes the ownership structure of a group entity and can influence consolidation, reporting, and governance. At the same time, the disclosed DoT demand notices remain a significant contingent issue, given the size of the amounts stated in the filing.

Conclusion

Hathway Bhawani Cabletel & Datacom’s FY26 audited results show lower revenue and a return to losses on a consolidated basis, while standalone losses were larger due to exceptional items. The company also completed the acquisition of the remaining stake in Hathway Bhawani NDS Network Limited, making it a wholly owned subsidiary from February 6, 2026.

The next set of disclosures to watch will be subsequent quarterly financial updates and any formal developments around the DoT demand notices, which the company has currently treated as not requiring a provision based on legal opinion.