SABTNL - Sri Adhik. Bros.

📊 NSE: SABTNL 🏢 Entertainment / Electronic Media Software 📅 Last Updated: 12/14/2025 13:41

💰 Financial Performance

Revenue Growth by Segment

Revenue for the single segment (Content Production and Syndication) was INR 6.11 Cr in FY25, but plummeted to INR 0.03 Cr in the half-year ending September 30, 2025, representing a near-total cessation of active revenue generation.

Geographic Revenue Split

The company operates mainly in the domestic market (India), contributing 100% of revenue, with no reported exports.

Profitability Margins

Net Profit Margin was -366.6% in FY25 due to a loss of INR 22.38 Cr on revenue of INR 6.11 Cr. Operating Profit Margin fell from 6.06% in FY25 to -31.96% in H1 FY26, reflecting the inability to cover even minimal operating costs.

EBITDA Margin

Operating Profit Margin was 6.06% in FY25, but the company reported a standalone EBITDA margin of 0.11% for the full year 2024-25, down from 1.91% in 2023-24.

Credit Rating & Borrowing

The company's bank facilities are rated 'Crisil D Issuer not cooperating', indicating a default status and a lack of management cooperation with rating agencies.

⚙️ Operational Drivers

Raw Materials

Primary operational costs include Content/Program Rights and Carriage Fees, which are essential for the production and distribution of television media.

Import Sources

Sourced domestically within India.

Key Suppliers

TV Vision Limited is a specific related-party supplier for carriage fees, which are paid as part of the company's Business Turnaround Strategy Plan.

Raw Material Costs

Not disclosed as a specific percentage of revenue, but the company incurred a total loss before tax of INR 22.37 Cr in FY25, largely driven by operational costs exceeding revenue.

Manufacturing Efficiency

Not applicable for a media content production company.

Logistics & Distribution

Distribution is handled through carriage fee payments to networks like TV Vision Limited to ensure content reach.

📈 Strategic Growth

Expected Growth Rate

9.70%

Growth Strategy

The company is pursuing a 'Business Turnaround Strategy Plan' involving a proposed name change to 'Aqylon Nexus Limited' and the execution of a Memorandum of Understanding (MoU) with the Government of Telangana to expand its media operations.

Products & Services

Content production and syndication of media content to various broadcasters, aggregators, and satellite networks.

Brand Portfolio

Sri Adhikari Brothers (SABTNL).

Market Expansion

Targeting the Telangana region through a specific MoU with the state government.

Strategic Alliances

Memorandum of Understanding (MoU) with the Government of Telangana.

🌍 External Factors

Industry Trends

The Indian media and entertainment sector posted 19.9% growth in 2022, crossing the INR 2 trillion mark, driven by a sharp jump in digital advertising.

Competitive Landscape

The company competes in the content production and syndication field, though specific competitor names are not listed.

Competitive Moat

The company lacks a sustainable moat as it is currently in default (Crisil D) and has only 2 permanent employees, limiting its production capacity.

Macro Economic Sensitivity

The media industry is sensitive to advertising revenue, which is projected to reach INR 330 billion (US$ 3.98 billion) in India by 2024.

Consumer Behavior

Shift toward digital advertising mop-up is a key trend affecting the broader media industry.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Ministry of Information and Broadcasting (up-linking of TV channels) and TRAI (DTH guidelines).

Legal Contingencies

The company was subject to the Corporate Insolvency Resolution Process (CIRP), which impacted director remuneration and board processes during the audit period.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the company's default status and the 'Issuer Not Cooperating' tag from rating agencies, which restricts forward-looking credit assessments.