Entertainment Network India Ltd (ENIL), the operator of India’s top FM radio channel Mirchi, reported a net profit of ₹4.4 crore for the fiscal first quarter, rebounding from a loss a year earlier.

Mirchi parent ENIL swings to black in Q1

Entertainment Network India Ltd (ENIL), which owns city-centric music and entertainment brand Mirchi, has launched its latest audio series, ‘Purane Khat’, on its digital platform, the Mirchi Plus app.

Mirchi Plus rolls out digital audio series ‘Purane Khat’

Net Sales are expected to increase by 22.9 percent Y-o-Y (up 5 percent Q-o-Q) to Rs. 122.1 crore, according to Prabhudas Lilladher.

Entertainment Network (India) Q4 PAT seen to Rs. 9.6 cr: Prabhudas Lilladher

On top of that, the association pointed out that the burden of the licence fee has left very little funds for operations and salaries. Entertainment Network India (ENIL), the owner of FM radio station Mirchi, submitted that the government should announce a financial package for the radio industry.

AROI seeks FM radio licence fee at 4% of annual revenues

Entertainment Network (India) consolidated net profit declines 29.39% in the December 2022 quarter

Entertainment Network (India) standalone net profit declines 47.04% in the December 2022 quarter

Japanese advertising major Hakuhodo has acquired a 51% stake in Indian brand and entertainment agency group Marching Ants & Trigger Happy Entertainment Network (MA&TH). The financial details of the deal were not disclosed.

Japan’s advertising Co Hakuhodo picks up 51% in MA&TH

This is ENIL’s first external investment, and with this move, the company has signalled its interest in strategic investments to build shareholder value in the long term. Founded in 2020, Spardha is a platform that caters to individuals with specific learning demands and aims to reinvent the music l…

ENIL buys significant minority stake in music platform Spardha

Prabhudas Lilladher recommended hold rating on Entertainment Network (India) with a target price of Rs 189 in its research report dated November 11, 2022.

Hold Entertainment Network (India); target of Rs 189: Prabhudas Lilladher

While Mirchi’s diversification efforts are commendable we await green shoots on delivery front .

ENIL Q2 Results Review - Volumes Recover But Yields Lag: Prabhudas Lilladher

While the radio business recorded a strong 45.7% growth, the solutions business witnessed 57.7% jump compared to the year ago quarter. With continued cost economisation initiatives, the operating cost (excluding digital business and direct variable costs) were lower than Q2FY20, the company said.

Radio Mirchi operator ENIL posts 50% jump in revenues

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Entertainment Network (India) is engaged in FM radio broadcasting through its brand Radio Mirchi. The Company's principal revenue stream is advertising. 