Balaji Telefilms Limited — Investor Meet, 07-07-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Balaji Telefilms reported Q4 revenue of INR66.25 Cr, down from INR135.11 Cr YoY, with a PAT of INR94 Cr (margin 142%). For FY25, revenue stood at INR453 Cr versus INR625 Cr last year, with PAT at INR84.6 Cr (margin 18.67%) and EPS of 8.41. The company holds cash reserves of INR172 Cr and a digital B2B order book exceeding INR300 Cr. Digital subscriptions hit a record 3.29 lakh this quarter, with over 2 million active on ALT Balaji. Management highlighted a strategic shift from pure subscription (SVOD) to a hybrid SVOD plus ad-supported (AVOD) model to diversify revenue and reduce cash burn, now down to INR35 lakh/month from ~INR130 Cr/year earlier. Digital content expansion includes regional Tamil and Telugu focus, new short-format platform Kutting, and a growing YouTube presence. TV production and revenues remain stable but under margin pressure, while the movie business is being de-risked through pre-sales and co-productions. A long-term creative tie-up with Netflix was announced, covering multi-format content over several years. Management expects movies to drive growth in 2-3 years, followed by digital, with TV stabilizing as a third pillar.