Bright Outdoor MediaShare price, financial results, shareholding and management
- Market cap
- ₹783 cr
- Stock P/E
- 32.6peers 11.2
- Book value
- ₹85.2
- Price to book
- 4.21
- EV / operating profit
- -
- Market cap to sales
- 5.12
- ROCE · FY26
- 18.6%
- ROE · FY26
- 13.7%
- ROE, 3-year average
- 13.0%
- Operating margin · FY26
- 21.4%peers 15.6%
- Sales growth, 3 years
- 18.7%
- Profit growth, 3 years
- 50.2%
- Debt to equity
- 0.00peers 0.07
- Borrowings
- ₹0 cr
- Interest cover
- 116.5×
- Cash from business / op. profit
- 12%
- Debtor days
- 188
- Pledged
- 0.00%
- Promoter holding
- 69.76%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 535
- 52-week high / low
- ₹450 / ₹323
- Dividend yield
- Paid
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Bright Outdoor Media share price chart
Close on 6 Nov 2026 · -4.27% on the day · Vol 21,695
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +4.8%
- 3 months
- -0.3%
- 6 months
- -8.0%
- 1 year
- -9.8%
- Traded a day, 20 days
- ₹0.55 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +21% | +26% |
| 3 years, a year | +19% | +50% |
| Latest half, H2 FY26 | +30% | +41% |
About Bright Outdoor Media: business, products and customers
Bright Outdoor Media rents out advertising space on big roadside boards, digital screens, railway stations and metro lines, mostly in and around Mumbai, to brands and film makers. Its shares trade on BSE SME.
Bright Outdoor Media grew out of an advertising business that Yogesh Lakhani began in 1980 and now calls itself India's first listed outdoor advertising company. It holds the rights to display advertising on roadside hoardings, digital LED screens, railway stations, foot over bridges and the Navi Mumbai Metro, almost all in Mumbai, Navi Mumbai and Thane, and it also handles film publicity, events, celebrity tie-ups and print, radio and TV campaigns.
It earns money in two ways. On sites it holds, it pays a licence fee or rent to railways, civic bodies or landlords and keeps what brands pay above that cost, so a site that sits empty still costs money; on campaigns elsewhere it books other owners' space and keeps a trading margin, which the company said in June 2025 was about 10% to 15% on a fifth of its revenue. That is why most of its costs are site and media charges rather than staff, and why moving to digital screens matters: one LED screen shows six advertisers a minute where a printed board shows one, for a large upfront cost and a higher power bill.
Read more about the business
Brands sometimes pay in flats instead of cash, which the company holds as stock and later rents out or sells, so part of the balance sheet is property rather than advertising. Campaign bills are often paid slowly, so money owed by customers is large next to sales and cash from the business has been thin.
The company names Signpost as a rival that runs largely digital bus shelters in Mumbai; it compares its own margins with Signpost's and says Signpost's lead comes from those digital displays.
From the offer document (prospectus, 2023), the FY26 annual report, the June 2026 investor presentation and the June 2025 earnings call transcript.
Read the deeper study ↓In its favour
- It has little debt for its size: debt to equity 0.00.
- The promoters own a large part of the company: 69.76%.
- It paid a dividend in the past year.
To watch
- Outcome of the appeal against the ₹32.00 cr service tax demand for 2007 to 2017 (Annual report FY26, p.56).
- Selling of advertising on Navi Mumbai Metro Line 1 under the ten-year CIDCO rights (Presentation Jun 2026, p.31).
- Collection of the ₹79 cr owed by customers at March 2026 (Presentation Jun 2026, p.15).
- Any revenue from the new services and conference business the company plans (Presentation Jun 2026, p.21).
- The promoters' share has come down: 69.76%, from 72.72%.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Bright Outdoor Media revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Bright Outdoor Media half-yearly results
SME companies report every six months · ₹ crore
| H1FY23 | H2FY23 | H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 45 | 46.54 | 41.24 | 65.44 | 57.22 | 69.53 | 62.51 | 90.52 |
| Expenses | 38 | 41.24 | 35.79 | 48.23 | 44.48 | 56.20 | 48.33 | 71.87 |
| Operating profit | 7 | 5.29 | 5.45 | 17.21 | 12.74 | 13.33 | 14.18 | 18.65 |
| OPM | 15.0% | 11.4% | 13.2% | 26.3% | 22.3% | 19.2% | 22.7% | 20.6% |
| Interest | 1 | 1.41 | 0.21 | 0.37 | 0.12 | 0.08 | 0.13 | 0.15 |
| Depreciation | 0 | 0.06 | 0.06 | 1.08 | 0.83 | 1.17 | 1.27 | 1.33 |
| Profit before tax | 6 | 4.05 | 5.62 | 15.92 | 12.21 | 12.97 | 13.57 | 18.77 |
| Net profit | 4 | 2.95 | 4.20 | 11.84 | 9.14 | 9.94 | 10.07 | 13.97 |
Bright Outdoor Media profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 71 | 24 | 50 | 91.50 | 106.68 | 126.75 | 153.03 |
| Expenses | 64 | 19 | 44 | 79.33 | 84.02 | 100.68 | 120.20 |
| Operating profit | 6 | 5 | 7 | 12.18 | 22.65 | 26.07 | 32.83 |
| OPM | 9.0% | 20.0% | 13.0% | 13.3% | 21.2% | 20.6% | 21.4% |
| Other income | 1 | 1 | 0 | 0.44 | 0.62 | 1.31 | 2.40 |
| Interest | 5 | 4 | 3 | 2.89 | 0.58 | 0.20 | 0.28 |
| Depreciation | 0 | 0 | 0 | 0.12 | 1.15 | 1.99 | 2.60 |
| Exceptional and other items | · | -1 | · | · | · | · | · |
| Profit before tax | 2 | 1 | 4 | 9.62 | 21.55 | 25.18 | 32.35 |
| Tax rate | 0.0% | 0.0% | 25.0% | 26.2% | 25.6% | 24.3% | 25.7% |
| Net profit | 2 | 1 | 3 | 7.10 | 16.04 | 19.07 | 24.05 |
| EPS ₹ | 2.25 | 1.39 | 1.70 | 6.94 | 11.45 | 13.11 | 12.26 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 5.0% | 4.0% | 5.0% |
The years to FY22 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Bright Outdoor Media profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 9.0% | 20.0% | 13.0% | 13.3% | 21.2% | 20.6% | 21.4% |
| Tax rate | 0.0% | 0.0% | 25.0% | 26.2% | 25.6% | 24.3% | 25.7% |
| ROCE | · | 6.0% | 8.8% | 11.9% | 15.1% | 15.7% | 18.6% |
| ROE | · | 3.0% | 8.5% | 10.4% | 13.0% | 12.3% | 13.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 5.0% | 4.0% | 5.0% |
Bright Outdoor Media debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It has almost no borrowings. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Bright Outdoor Media balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 5 | 5 | 10 | 14 | 15 | 15 | 22 |
| Reserves | 28 | 29 | 27 | 85 | 132 | 149 | 164 |
| Net worth | 33 | 34 | 37 | 99 | 147 | 164 | 186 |
| Borrowings | 52 | 48 | 41 | 34 | 13 | 0 | 0 |
| Other liabilities | 16 | 15 | 16 | 22 | 27 | 24 | 35 |
| Total liabilities | 101 | 97 | 94 | 155 | 187 | 188 | 221 |
| Fixed assets | 4 | 4 | 4 | 4 | 15 | 19 | 17 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 97 | 93 | 90 | 151 | 172 | 169 | 204 |
Bright Outdoor Media cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 1 | 6 | 7 | -12 | -18 | 5 | 4 |
| Cash from investing | 1 | 1 | 0 | -19 | 8 | -20 | -1 |
| Cash from financing | -3 | -7 | -7 | 62 | 11 | -14 | -1 |
| Net cash flow | -1 | 0 | 0 | 31 | 1 | -29 | 2 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 238 | 633 | 264 | 183 | 214 | 173 | 188 |
| Cash conversion cycle | 238 | 633 | 264 | 183 | 214 | 173 | 188 |
| Working capital days | 268 | 718 | 329 | 169 | 297 | 326 | 316 |
Bright Outdoor Media peers and competitors
Listed SME companies in the same industryBy sales, Bright Outdoor Media is number 4 of the 22 listed SME companies in media.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Cash Ur Drive Marketing | 168 | 5.7 | 187 | 29.6 | 18.0% | 0.01 |
| Yaap Digital | 226 | 12.3 | 185 | 18.5 | 15.1% | 0.29 |
| Bright Outdoor Media | 783 | 32.6 | 153 | 24.1 | 21.4% | 0.00 |
| Graphisads | 43 | 10.1 | 141 | 4.3 | 5.1% | 0.27 |
| Pelatro | 408 | 22.5 | 138 | 18.1 | 18.8% | 0.12 |
| Simca Advertising | 481 | 29.0 | 127 | 16.6 | 18.0% | 0.00 |
| Novus Loyalty | 290 | 32.2 | 127 | 9 | 10.0% | 0.00 |
| Pramara Promotions | 137 | 13.7 | 112 | 10 | 15.0% | 0.34 |
| Cyber Media Research & Services | 21 | 5.9 | 90.8 | 3.5 | 5.1% | 0.26 |
| Adcounty Media India | 189 | 9.5 | 86 | 20 | 29.0% | 0.03 |
| Chatterbox Technologies | 45 | 5.0 | 84.2 | 9.1 | 16.0% | 0.00 |
| Median of the 10 others | 179 | 11.2 | 127 | 13.3 | 15.6% | 0.07 |
Bright Outdoor Media shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Bright Outdoor Media shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 23 | Sep 23 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|---|---|
| Promoters | 72.72% | 72.72% | 72.72% | 69.76% | 69.76% | 69.76% | 69.76% |
| Foreign investors (FIIs) | 0.00% | 7.04% | 7.18% | 7.86% | 8.00% | 9.78% | - |
| Indian institutions (DIIs) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.71% | - |
| Number of shareholders | 423 | 384 | 814 | 715 | 643 | 634 | 535 |
Bright Outdoor Media study: the business from its own documents
Read from 8 of the company's own documentsBright Outdoor Media key facts from the filings
Each figure with the document it comes from
- Revenue
- ₹153 cr
- FY26 revenue from operations, up from ₹127 cr, with most of the rise from digital screens.Presentation Jun 2026, p.14 and p.18
- Digital screens
- ₹44.97 cr
- FY26 revenue from digital LED hoardings, 29.39% of the total; printed boards brought in ₹103 cr.Presentation Jun 2026, p.27 and p.28
- Displays
- 1,352
- Own advertising displays: 400 LED and 952 static, of which 870 are railway and metro boards and 482 roadside hoardings.Presentation Jun 2026, p.29
- Navi Mumbai Metro
- 10 years
- Sole advertising rights from CIDCO on Navi Mumbai Metro Line 1, across 11 stations and more than 85,000 sq ft.Presentation Jun 2026, p.31
- Western Railway
- ₹60 cr
- A seven-year contract for 17,555 sq ft of hoardings on railway over bridges in Mumbai's western suburbs, won before June 2025.Transcript Jul 2025, p.5
Show 5 more facts
- Booking
- 50% to 80%
- Share of its own advertising space booked, about 70% to 80% in the season and 50% to 60% off season, as the managing director said in June 2025.Transcript Jul 2025, p.9
- Unpaid bills
- ₹79 cr
- Trade receivables at March 2026, up from ₹60 cr, about half a year's revenue.Presentation Jun 2026, p.15; our arithmetic
- Cash from operations
- ₹3 cr
- FY26 operating cash flow against a net profit of ₹24 cr.Presentation Jun 2026, p.14 and p.16
- Tax dispute
- ₹32.00 cr
- Service tax demand for 2007 to 2017 that the company disputes; its appeal is pending, and a separate GST dispute is ₹3.19 cr.Annual report FY26, p.55 to 56
- Who pays
- ₹80 cr
- FY26 advertising revenue billed directly to clients, against ₹32 cr through agencies and ₹35 cr through other media vendors.Presentation Jun 2026, p.18
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it will keep adding digital LED hoardings, bid for more railway, government, airport, metro and highway tenders, grow mall and multiplex advertising and move into events and conferences. Its long contracts include ten years of sole rights on Navi Mumbai Metro Line 1 and a seven-year Western Railway contract. In June 2025 it expected FY26 revenue to rise 40% to 45%, including ₹35 crore to ₹45 crore from new services; reported revenue rose by about a fifth.
| What management said | When | What happened |
|---|---|---|
| Revenue up 40% to 45% in FY26 | June 2025 earnings call | ₹153 cr, up about 20% |
| ₹35 cr to ₹45 cr of revenue from new services in FY26 | June 2025 earnings call | No such line in the FY26 revenue split |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Bright Outdoor Media earns money by renting out prime advertising sites in Mumbai, and more and more of that comes from digital screens.
Its weak spots are slow paying customers, thin cash from the business, a large disputed tax demand and promises that ran well ahead of results.
AverageCan it set its own prices?On scarce prime sites, rates rise with demand, but on space it books from others it earns only a thin trading margin.
AverageHow strong is it against rivals?It holds many of Mumbai's large digital screens and some exclusive transit rights, but rivals such as Signpost run larger digital networks and site permits can stop for long spells.
AverageWho are its customers?Thousands of brands across many trades, but only about three in five clients came back the next year and the company did not share its top customers' share.
WatchDoes it need a lot of money?Yes. Digital screens cost a lot to put up, customers pay slowly and some pay in flats, so profit has not turned into much cash.
AverageCan it keep finding new work?Long transit contracts and new digital screens give it space to fill, but sales still depend on winning campaigns one at a time.
WatchDo good and bad years swing a lot?Bookings rise and fall with the festive and election seasons while site rents stay fixed, so a slow spell hits profit hard.
Who runs Bright Outdoor Media?
Promoters, directors and officers; tap a name for the background
YJYogesh Jiwanlal LakhaniPromoter, Chairman and Managing Director
Started in advertising in 1980 and had more than 43 years in the industry at the time of the offer document; completed SSC in 1980 and holds an honorary doctorate from Royal American University (2020). Oversees the whole business and its growth plans.
Offer document, p.145 and p.158; Transcript Jul 2025, p.3; Annual report FY26, p.8JYJagruti Yogesh LakhaniPromoter and Non-Executive Director
A commerce graduate of the University of Surat (1984) with more than 16 years in advertising, involved in administration and human resources; earlier a whole-time director. The offer document records Yogesh Jiwanlal Lakhani and Jagruti Yogesh Lakhani as husband and wife.
Offer document, p.146 and p.159; Annual report FY26, p.8 and p.21MPMukesh Purshottam SharmaChief Executive Officer
Appointed chief executive officer in July 2025; the documents read give no further background.
Annual report FY26, p.30 and p.46SMShekhar M ManjrekarChief Financial Officer
A Mumbai University commerce graduate (2001) with a postgraduate diploma in finance management from Welingkar (2020); chief financial officer since November 2022, looking after finance and accounts.
Offer document, p.155; Annual report FY26, p.8AKAmeet Kumar Vilaschandra MehtaIndependent Director
Listed as a non-executive independent director in the FY26 annual report; the documents read give no further background.
Annual report FY26, p.8KAKajal Ashish AvalaniIndependent Director
Appointed a non-executive independent director from 12 June 2026.
Annual report FY26, p.8Bright Outdoor Media latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹90.5 cr (+30%), net profit ₹14 cr (+41%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 69.76%.
Bright Outdoor Media announcements
7 on record, latest first; each opens the filing on the exchange
- Company UpdateCompliance Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018PDF ↗
- Company UpdateBright Outdoor Media Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/10/2026 ,inter alia, to consider and approPDF ↗
- Company UpdatePursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we are enclosing herewith the Business update of thePDF ↗
- Board MeetingBright Outdoor Media Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/10/2026 ,inter alia, to consider and approPDF ↗
- AGM/EGMDeclaration of Voting Result along with Scrutinizer Report of Annual General Meeting of the CompanyPDF ↗
- Insider Trading / SASTPlease Find Attached intimation for closure of trading windowPDF ↗
- AGM/EGMGist of the Proceeding of the 21st Annual General Meeting (''AGM'') of Bright Outdoor Media Limited held on Monday, September 28, 2026PDF ↗
Bright Outdoor Media annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 July 2025 ↗read
- 30 June 2026 ↗read
- 31 July 2025 ↗read
- 28 Feb 2025 ↗read
Bright Outdoor Media share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendFinal Dividend - Rs. - 0.5000ex-date 21 Sept 2026
- DividendFinal Dividend - Rs. - 0.5000ex-date 22 Sept 2025
- Bonus issueBonus issue 1:2ex-date 18 July 2025
- DividendFinal Dividend - Rs. - 0.5000ex-date 19 Sept 2024
Checks we ran on Bright Outdoor Media's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,18,23,166 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Bright Outdoor Media
What does Bright Outdoor Media do?
Bright Outdoor Media rents out advertising space on big roadside boards, digital screens, railway stations and metro lines, mostly in and around Mumbai, to brands and film makers. Its shares trade on BSE SME.
What is the share price of Bright Outdoor Media?
₹359 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Bright Outdoor Media?
₹783 cr at the close on 6 Nov 2026, on 2,18,23,166 shares.
What is the P/E of Bright Outdoor Media?
32.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Bright Outdoor Media's revenue and profit?
Revenue ₹153 cr and profit after tax ₹24 cr in FY26.
Who are the promoters of Bright Outdoor Media?
Yogesh Jiwanlal Lakhani, Jagruti Yogesh Lakhani; promoters held 69.76% at 31 March 2026.
What is Bright Outdoor Media's website?
www.brightoutdoor.com
More SME companies like Bright Outdoor Media
Other listed SME companies in media, the closest in size first, each read from its own documents.
- Simca AdvertisingSIMCA · NSE Emerge · Media · listed 2026Market cap ₹585 cr
- PelatroPELATRO · NSE Emerge · Media · listed 2024Market cap ₹393 cr
- Novus LoyaltyNOVUS · BSE SME · MediaMarket cap ₹283 cr
- Yaap DigitalYAAP · NSE Emerge · Media · listed 2026Market cap ₹226 cr
- Adcounty Media IndiaADCOUNTY · BSE SME · MediaMarket cap ₹168 cr
- Cash Ur Drive MarketingCUDML · NSE Emerge · Media · listed 2025Market cap ₹166 cr
Built from 3 investor presentations, 3 annual reports, 1 offer document, 1 earnings call transcript, 7 exchange announcements, 7 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.