Music Broadcast (RADIOCITY) is loss-making over the last 12 months, losing ₹28 Cr, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹5.60, 24% below its 52-week high. Sales fell 4.3% a year over 3 years. The company has almost no debt. It is a small-cap company with a market cap of ₹197 Cr, ranked 8th of 16 Broadcasting companies by market cap; the shares fell 26% over the past year.
- ₹5.67
- ₹5.85
- ₹5.39
- ₹5.67
- 64.6K
Health check
- ReturnsAhead
−25.7% over a year, better than 6 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthShrinking
Sales −4.3% a year over 3 years.
- ProfitabilityNegative
ROCE -9.7% vs peer median 3.0%.
- Balance sheetStretched
Practically debt-free, Piotroski 3 of 9.
- Red flags3 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹197 Cr
- Small cap
- P/E
- n/a
- Industry 15.3
- Price to book
- 0.43
- Peers 0.52
- Dividend yield
- 0.00%
- ROE
- −6.0%
- Peers 1.1%
- ROCE
- −9.7%
- Peers 3.0%
- Debt to equity
- 0.04
- Debt ₹17 Cr
- EPS (TTM)
- −₹0.82
- Face value ₹2
- OPM (TTM)
- 14.5%
- Net margin −16.4%
- Sales growth
- +8.2%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 1.14
- EV/EBITDA 25.7
Strengths and risks
Strengths
- Practically debt-free.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −6.0%.
- Interest coverage of only 0.8×.
About Music Broadcast
Music Broadcast Limited engages in the operating of FM radio stations under the Radio City brand name in India. It operates radiocity.in website, and 39 radio stations. The company was incorporated in 1999 and is based in Mumbai, India. Music Broadcast Limited is a subsidiary of Jagran Prakashan Limited.
- Headquarters
- Mumbai
- Employees
- 334
- Sector
- Communication Services
- ISIN
- INE919I01024
- Website
- radiocity.in
Price range
- Avg volume (3M)
- 69.6K
- 1-year return
- minus 25.7%
- From 52-week high
- minus 23.8%
Peers · Broadcasting
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SUNTVSun TV Network | 595.45 | minus 0.27% | 23,466 | 15.2 | 1.74 | 15.3% | 11.9% | 48.2% | 4.7% | −5.5% | 2.52% | plus 6.3% |
| ZEELZee Entertainment Enterprises | 63.97 | minus 5.12% | 6,144 | 35.0 | 0.49 | 2.5% | 1.4% | 1.4% | 0.0% | 78.7% | 3.13% | minus 33.9% |
| NDTVNew Delhi Television | 64.53 | minus 1.75% | 728 | – | −47.52 | −75.1% | −345.0% | −48.4% | 11.0% | – | 0.00% | minus 28.3% |
| TVTODAYTV Today Network | 101.20 | minus 1.20% | 604 | 38.9 | 0.68 | 3.5% | 1.6% | 4.5% | −2.6% | −45.4% | 0.00% | minus 29.7% |
| ZEEMEDIAZee Media Corporation | 7.10 | minus 0.56% | 465 | – | 2.00 | 4.3% | 0.9% | 13.3% | 1.8% | – | 0.00% | minus 28.6% |
| ENILEntertainment Network (India) | 80.55 | minus 2.88% | 384 | – | 0.52 | −1.8% | −1.0% | 10.3% | 3.5% | – | 2.48% | minus 38.7% |
| AQYLONAqylon Nexus | 12.76 | minus 2.22% | 324 | 11.4 | −56.21 | – | – | 35.6% | – | – | 0.00% | minus 98.3% |
| RADIOCITYMusic Broadcast | 5.60 | minus 1.23% | 197 | – | 0.43 | −9.7% | −6.0% | 5.1% | −4.3% | – | 0.00% | minus 25.7% |
| Median of 7 peers | – | −1.75% | 604 | 25.1 | 0.52 | 3.0% | 1.1% | 10.3% | 2.6% | −5.5% | 0.00% | −29.7% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 37.8 | 46.5 | 40.8 | 44.5 | 41 | |
| 43.3 | 38.3 | 39.2 | 35.4 | 34.8 | |
| −5.5 | 8.2 | 1.6 | 9.2 | 6.1 | |
| −14.5% | 17.7% | 3.8% | 20.6% | 15.0% | |
| 6.8 | 8.3 | 4.6 | 8.2 | 7.5 | |
| 3.1 | 3.1 | 1.2 | 0.7 | 0.6 | |
| 7 | 6.8 | 6.6 | 4.1 | 4.1 | |
| – | −0.6 | −49 | −0.3 | – | |
| −8.8 | 6.1 | −50.8 | 12.3 | 8.9 | |
| 21.4% | 39.5% | 5.6% | 25.2% | 25.2% | |
| −6.9 | 3.7 | −48 | 9.2 | 6.7 | |
| -0.20 | 0.11 | -1.39 | 0.27 | 0.19 |
Profit & loss
- Sales CAGR 3Y
- −4.3%
- ROE
- −6.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 199 | 229 | 234 | 174 | |
| – | +14.9% | +2.6% | minus 25.6% | |
| 173 | 192 | 230 | 166 | |
| 26.2 | 36.4 | 4.1 | 8.1 | |
| 13.2% | 15.9% | 1.7% | 4.6% | |
| 17.2 | 20.6 | 47.7 | 21.5 | |
| 3.4 | 9.4 | 11.1 | 9.9 | |
| 32.8 | 33.4 | 34.6 | 27.6 | |
| −1.1 | −1.2 | −47.7 | −47.7 | |
| 6.1 | 12.9 | −41.6 | −55.7 | |
| 43.3% | 46.9% | 18.7% | 4.2% | |
| 3.4 | 6.8 | −33.8 | −53.3 | |
| – | +99.0% | minus 594.4% | – | |
| 0.10 | 0.20 | -0.98 | -1.54 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 69.1 | 69.1 | 69.1 | 69.1 | |
| 456 | 463 | 429 | 376 | |
| 98.3 | 106 | 126 | 23.6 | |
| 33.1 | 42.5 | 41.4 | 26.9 | |
| 656 | 681 | 665 | 496 | |
| 80.7 | 87.1 | 87.8 | 60.6 | |
| – | 0.1 | 0.1 | – | |
| 215 | 224 | 171 | 153 | |
| 52.6 | 74.1 | 153 | 103 | |
| 308 | 295 | 253 | 180 | |
| 656 | 681 | 665 | 496 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 30.6 | 27.3 | 16.6 | 21.7 | |
| −23.9 | −16.2 | −9.5 | 87.6 | |
| −7.9 | −8.1 | −7.4 | −114 | |
| −1.2 | 3 | −0.3 | −5 | |
| −9.9 | −9.7 | −12.7 | −5.5 | |
| 20.7 | 17.5 | 3.9 | 16.2 | |
| – | −0 | −0 | −0 |
Shareholding pattern
- Promoters74.05%
- Public25.95%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.05% | 25.95% | 0.00 | |
| 30 Jun 2026 | 74.05% | 25.95% | 0.00 | |
| 31 Mar 2026 | 74.05% | 25.95% | 0.00 | |
| 31 Dec 2025 | 74.05% | 25.95% | 0.00 | |
| 30 Sep 2025 | 74.05% | 25.95% | – |
Major shareholders
Filings & events
News
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