Dish Tv India Limited · NSE:DISHTV
Dish Tv India — Q2 FY2026 Earnings Presentation
20 slides from Dish Tv India's earnings presentation, November 2025
Slide 1: Dish TV India Limited Earnings Presentation
Dish TV India Limited Earnings Presentation Quarter Ended September 30, 2025 Stock Code: BSE - 532839 NSE- DISHTV LSE: DTVL 1
Slide 2: Disclaimer
Disclaimer Some of the statements made in this presentation are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of Dish TV India Limited about its business and the industry and markets i
Slide 3: Key highlights for the quarter
Key highlights for the quarter 3
Slide 4: Key financial highlights
Key financial highlights Operating Operating revenues for the quarter were Rs. 2,911 million Revenues EBITDA EBITDA of Rs. 318 million EBITDA EBITDA margin at 10.9% Margin Debt Maintained debt-free status as on September 30, 2025 4
Slide 5: Business Highlights/ Key Developments
Business Highlights/ Key Developements - Build a connected ecosystem: TV + OTT + Devices + Services - Device-led customer acquisition: Launch Smart TV with content bundles that lock-in consumers with a year of entertainment. - Watcho : Entertainment Super-App: Aggregator + Marketplace (Fliqs) for cr
Slide 6: VZY TV - Launch
VZY TV + — INTRODUCING — ; ae 7 /» if Zone & You. A TRUE SMART TV THAT HAS IT ALL Best-in-Class No Extra Spend on 3 years warranty TVéxperience * pTH/oTT Subscriptions: + and assured buyback* —_— L— EAR ENTERTAINMENT SUBSCRIPTION WORTH RS 10,000 INCLUDED" f VAY surance 3 YEARS WARRANTY & | BUYBACK O
Slide 7: VZY TV – Launch/ Connected TV's growth forecast
VZY TV – Launch/ Connected TV’s growth forecast 137 2023 19 Smart TV penetration 2026 153 estimated to grow to 100 40 MN 183 2030 100 Hybrid consumption and Pay TV +Smart TV Smart TV Bundling opportunities with OTT and broadband PAY TV GROWTH WILL BE LIMITED However, with smart TVs and wired / air b
Slide 8: VZY TV – Launch/ Market Opportunities
VZY TV – Launch/ Market Oppertunities - TV viewing remains central to family consumption. Immersive content (Sports) still favors TV. - Large FTA / SD cable base and rural markets represent a major conversion opportunity. - Smart TV shipments in India (~2024) are large — meaningful new device-led ac
Slide 9: Dish TV maintains debt-free status
Dish TV maintains debt-free status Dish TV India Limited – Outstanding of debt over the years (Rs. million) 35,000 31,539 30,000 27,582 25,000 20,000 17,844 15,000 10,000 8,099 5,000 3,756 725 0 0 0 0 - Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 May-23 Mar-24 Mar-25 Sep-26 Gross debt (Rs. mn) 9
Slide 10: Watcho - OTT aggregation
-OTT aggregation i 4 nee ‘ GET 10X ENTERTAINMENT, gh _xjoy ir. vouchers trom , vai \ WITH 10X SAVINGS! aie y % % @ IN ONE PLAN AT HUGE DISCOUNT tk ALS. , a TCHES. 2 CHAUPAL | hoycho | fe] INFINITE i ADRENALINE. ; ED | @ |mveens| op ‘SAVINGS fp uns WORLD +4 SUBSCRIBE fil Now ce) DOWNLOAD NOW a mer i
Slide 11: Watcho - Downloads so far
Watcho - Downloads so far Cumulative downloads (mn.) 120 100 98 95 90 80 70 60 50 40 20 25 4 - Apr-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 11
Slide 12: 2Q FY26 Financials
> dish tV) 2Q FY26 Financials
Slide 13: Quarterly performance metrics
Quarterly performance metrics P&L structure – 2Q FY26 Subscription revenues Consolidated Revenue Rs. 2,324 million Subscription revenues 4%5% 11% Marketing and promotional fees Operating revenues Advertisement income 80% Rs. 2,911 million Others EBITDA Consolidated Expenses Rs. 318 million Cost of g
Slide 14: Summarized consolidated P&L - Quarterly
Summarized consolidated P&L - Quarterly Quarter ended Quarter ended September September Operating revenues break-up (Rs. Rs. million 2025 2024 Mn.) Operating revenues 2,911 3,956 Expenditure 2,593 2,510 Sales EBITDA 318 1,446 103 153 EBITDA margin (%) 10.9 36.5 331 Subscription revenues Other income
Slide 15: FY25 Financials
> dish tV) FY25 Financials
Slide 16: Annual performance metrics
Annual performance metrics P&L structure – FY25 Subscription revenues Rs. 13,771 million Subscription revenues 1% 2% 9% Marketing and promotional Operating revenues Consolidated fees Revenue Advertisement income Rs. 15,676 million Others 88% EBITDA Rs. 5,291 million Cost of goods & services 21.2% Em
Slide 17: Summarized consolidated P&L- Annual
Summarized consolidated P&L- Annual Year Year ended ended Rs. million March 2025 March 2024 Operating revenues break-up (Rs. mn.) Operating revenues 15,676 18,565 Expenditure 10,385 11,028 338 1,367 Subscription revenues EBITDA 5,291 7,537 201 Marketing and EBITDA margin (%) 33.8 40.6 promotional fe
Slide 18: Consolidated balance sheet
Consolidated balance sheet Rs. million March 2025 (Audited) Equity and liabilities Equity (a) Equity share capital 1,841 (b) Other equity (34,271) (c) Non-controlling interest (1) Liabilities (1) Non-current liabilities (a) Financial liabilities (i) Borrowings - (ii) Lease liabilities 192 (iii) Othe
Slide 19: Consolidated balance sheet - Assets
Rs. million March 2025 (Audited) Assets (1) Non-current assets (a) Property, plant & equipment 10,368 (b) Capital work in progress 2,914 (c) Goodwill 1 (d) Other intangible assets 32 (e) Intangible assets under development 605 (f) Financial assets (i) Investments - (ii) Loans - (iii) Other financial
Slide 20: Thank you
> dish tV) Thank you 20