RADIOWALLANETWORK Q4 FY26 earnings call.
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Revenue
₹21 Cr
verification pending
Revenue YoY
—
reported change
EBITDA
₹0.58 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Radiowalla Network reported FY26 revenue of 21 crore (consolidated) with EBITDA of 58 lakh and a net loss of 31 lakh. The H2 performance was impacted by geopolitical headwinds starting January, causing ad revenue pullback of ~20-25%, resulting in H2 revenue of 10 crore with marginal negative EBITDA. Instore radio (55% of revenue) and corporate radio (19%) demonstrated strong unit economics with 30%+ and 40%+ gross margins respectively, while ad revenue (17%) and digital signage (9%) remain nascent. The company added 3,000 new stores taking the total to 33,000+ across 12 countries, with 700+ brands serviced. Key concerns include low ad inventory utilization (~15-20% of stores monetized), client churn from one major retailer, and margin compression from 40 lakh ESOP and depreciation charges. International subsidiaries in UAE and Canada are yet to generate revenue. Management targets 25-40% revenue growth and 12-15% PAT margin for FY27, with advertising potential of 70-100 crore if utilization improves. AI integration in music curation and voiceovers is underway with 1,000+ stores already using AI-generated music.
Colored figures show movement against the previous available record.
Guidance to track
- Management set internal targets for 25-40% revenue growth for FY27, driven by new customer additions, improved ad inventory utilization, and international market contributions.
- Target net margin of 12-15% at PAT level based on improving operational efficiency, reducing employee cost as percentage of revenue, and scaling high-margin corporate radio business.
- Mexico and Brazil currently largest international contributors. UAE and Canada subsidiaries set up in January; management expects substantial business from these locations in FY27 with per-store monthly subscription model.
- CEO estimates advertising platform could generate 70-100 crore revenue at full network utilization, from current base representing 'starting block' levels with very low inventory utilization.
Risks flagged
- One large client churned in October/November (H2) causing 5-month revenue hit on subscription. Although recouped with new clients, this highlights ongoing client retention risk in a concentrated market.
- Only 5,500 of 33,000 stores (15-20%) currently have advertising capability. Average screen occupancy is ~30% with some sites as low as 20%. Monetization path remains uncertain.
- UAE subsidiary opened in January but Middle East situation created virtual blockade, preventing client onboarding. International expansion (UAE, Canada, North America) yet to generate revenue despite setup costs.
- Ad revenue declined 20-25% YoY due to geopolitical factors. April remained down, May showed recovery signs. Management cautious on trajectory with recovery dependent on agency empanelment and advertiser adoption.
Key quotes
- We still did 10 crores in the second half... Aida was a negative marginal negative of 16 lakhs and the net profit was at 31 lakhs negative for the full year.
- We are targeting 25 to 40% growth... with it also a focus on the margin as well because I understand margin needs to be improved substantially from where we are today.
- Potential the advertisement revenue on a network basis can generate almost 70 to 100 cr kind of revenue just the advertisement platform.
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