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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹183 Cr
verified against source
Revenue YoY
0%
reported change
EBITDA
₹51 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
HMVL reported a stable Q3 FY26 with consolidated revenue flat YoY at ₹532 crore and EBITDA margin expanding 900 bps to 10%, driven by print advertising growth of 8% YoY and disciplined cost management. Print segment EBITDA margin improved to 15% from 11% last year, aided by lower newsprint costs and pricing gains. Digital revenue grew 30% YoY to ₹67 crore, though segment losses persisted at ₹23 crore. Radio revenue declined sharply due to a high base from a prior-year event. Management highlighted AI as an enabler for content and potential regulatory tailwinds, but provided no specific guidance. Risks include newsprint cost inflation in coming quarters and competitive pressure in Hindi markets.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects no major newsprint price increase in Q4, with coverage through Q1 next year.
- Management indicated a possible upward move in newsprint prices after Q1 next year.
Risks flagged
- Management flagged potential newsprint price increases from Q2 FY27, which could pressure margins.
- Radio segment continues to face challenging market conditions with revenue decline and margin pressure.
- Management was evasive on active pursuit of AI content deals, indicating no material progress to share.
Key quotes
- Our core print segment continues to demonstrate posting growth on more than annual sequential basis.
- The radio business continues to navigate a challenging market environment where revenues and margins pressure performances remain stable on a sequential basis.
- We are not seeing much uptick in our revenue growth. We are the stock performance has been very dismal.
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