Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

Zee Entertainment Enterprises / Forensic Accounting

<ul>
<li>Shareholders recently rejected Zee's promoter-led capital infusion, limiting the founding family's stake increase and influence.</li>
<li>The failed fundraise underscores persistent questions about financial transparency and management's past conduct. This decision further impacts market perception and investor confidence.</li>
<li>This insight covers the whole story from the beginning of the allegations to the current status of the allegations and fundraising. </li>
</ul>


Shareholders recently rejected Zee's promoter-led capital infusion, limiting the founding family's stake increase and influence.
The failed fundraise underscores persistent questions about financial transparency and management's past conduct. This decision further impacts market perception and investor confidence.
This insight covers the whole story from the beginning of the allegations to the current status of the allegations and fundraising. 


Zee Entertainment: A Forensic Perspective

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>May is a result season, and hence, very few companies that are out of their silent period are eligible to permit insider trading activity</li>
<li>Sectors with notable activity include real estate, financials, media and renewable energy.</li>
<li>Most of these stocks are close to same price levels where the insider purchases happened.</li>
</ul>


May is a result season, and hence, very few companies that are out of their silent period are eligible to permit insider trading activity
Sectors with notable activity include real estate, financials, media and renewable energy.
Most of these stocks are close to same price levels where the insider purchases happened.


Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

<ul>
<li>NFRA imposed a Rs. 2 crore penalty on Deloitte and fined two retired partners for audit lapses in <a href="https://www.smartkarma.com/entities/zee-entertainment-enterprises" target="_blank" data-smartkarma-citation="entities:19466:1" rel="noopener">Zee Entertainment Enterprises (Z IN)</a>'s Rs. 200 crore FD mismanagement involving RPTs.</li>
<li>This case exposes serious flaws in audit practices, corporate governance, and related-party transaction scrutiny, emphasizing the rising importance of professional skepticism in financial audits.</li>
<li>Audit reports aren’t infallible; investors must independently assess corporate governance and scrutinize financial assumptions, especially in listed companies with complex transactions.</li>
</ul>


NFRA imposed a Rs. 2 crore penalty on Deloitte and fined two retired partners for audit lapses in Zee Entertainment Enterprises (Z IN)'s Rs. 200 crore FD mismanagement involving RPTs.
This case exposes serious flaws in audit practices, corporate governance, and related-party transaction scrutiny, emphasizing the rising importance of professional skepticism in financial audits.
Audit reports aren’t infallible; investors must independently assess corporate governance and scrutinize financial assumptions, especially in listed companies with complex transactions.


The Zee Entertainment Audit Saga: NFRA’s Action Against Deloitte

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Zee Entertainment Enterprises / Equity Bottom-Up

<ul><li>Zee Entertainment’s (Zee) revenue continued the declining trend as 2QFY25 revenue fell 18% YoY (5% miss) on softer advertising revenue (-8% YoY, 1% miss) and lower revenue from other sales and services (-77% YoY on a high base (2QFY24 boosted by Gadar 2 release).</li><li>However, Zee’s strong control over costs and a further reduction in Zee5 losses led to 18%/15% QoQ jump in EBITDA/adj. PAT (21%/35% beat).</li><li>The management indicated that advertising revenue saw pick-up in Sep’24, which should continue in 3Q with the onset of the festive season.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Zee Entertainment’s (Zee) revenue continued the declining trend as 2QFY25 revenue fell 18% YoY (5% miss) on softer advertising revenue (-8% YoY, 1% miss) and lower revenue from other sales and services (-77% YoY on a high base (2QFY24 boosted by Gadar 2 release).However, Zee’s strong control over costs and a further reduction in Zee5 losses led to 18%/15% QoQ jump in EBITDA/adj. PAT (21%/35% beat).The management indicated that advertising revenue saw pick-up in Sep’24, which should continue in 3Q with the onset of the festive season.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Zee Entertainment - Cost Controls Bear Fruit; Ad Revenue Recovery Vital for Re-Rating

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>ZEEL reported better than expected performance with EBITDA margin of 16.0% (PLe 12.5%) led by cost optimization efforts and narrowing losses in ZEE5.</li><li>Over the last 2 quarters, ZEEL’s content and employee cost is down 17% and 11% respectively.</li><li>Further, losses in ZEE5 are at a 4-year low level of Rs1,588mn.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ZEEL reported better than expected performance with EBITDA margin of 16.0% (PLe 12.5%) led by cost optimization efforts and narrowing losses in ZEE5.Over the last 2 quarters, ZEEL’s content and employee cost is down 17% and 11% respectively.Further, losses in ZEE5 are at a 4-year low level of Rs1,588mn.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Zee Entertainment Enterprises - Cost Optimization Efforts Yield Results

India

Zee Entertainment Enterprises Limited is an Indian media and entertainment conglomerate engaged in broadcasting satellite television channels, operating digital media, and selling media content including programs, film rights, and music rights. It offers content in multiple languages through international and domestic channels, and its brands include Zee TV, Zee Cinema, and ZEE5. The company is headquartered in Mumbai, India, and was incorporated in 1982.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Zee Entertainment Enterprises (Z IN)

Zee Entertainment: A Forensic Perspective

Shareholders reject Zee's promoter-led capital infusion, raising concerns about transparency and management conduct, impacting market perception...

Nimish Maheshwari

Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

Sreemant Dudhoria

The Zee Entertainment Audit Saga: NFRA’s Action Against Deloitte

NFRA penalizes Deloitte and partners for audit lapses in Zee Entertainment's FD mismanagement, highlighting flaws in audit practices and the need...

Nimish Maheshwari

Zee Entertainment - Cost Controls Bear Fruit; Ad Revenue Recovery Vital for Re-Rating

Zee Entertainment’s (Zee) revenue continued the declining trend as 2QFY25 revenue fell 18% YoY (5% miss) on softer advertising revenue (-8% YoY, 1%...

Motilal Oswal

Zee Entertainment Enterprises - Cost Optimization Efforts Yield Results

ZEEL reported better than expected performance with EBITDA margin of 16.0% (PLe 12.5%) led by cost optimization efforts and narrowing losses in ZEE5.

Prabhudas Lilladhar

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Zee Entertainment: A Forensic Perspective

​Shareholders reject Zee's promoter-led capital infusion, raising concerns about transparency and management conduct, impacting market perception...

Nimish Maheshwari

Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

​May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

Sreemant Dudhoria

The Zee Entertainment Audit Saga: NFRA’s Action Against Deloitte

​NFRA penalizes Deloitte and partners for audit lapses in Zee Entertainment's FD mismanagement, highlighting flaws in audit practices and the need...

Nimish Maheshwari

Zee Entertainment - Cost Controls Bear Fruit; Ad Revenue Recovery Vital for Re-Rating

Zee Entertainment’s (Zee) revenue continued the declining trend as 2QFY25 revenue fell 18% YoY (5% miss) on softer advertising revenue (-8% YoY, 1%...

Motilal Oswal

Zee Entertainment Enterprises - Cost Optimization Efforts Yield Results

ZEEL reported better than expected performance with EBITDA margin of 16.0% (PLe 12.5%) led by cost optimization efforts and narrowing losses in ZEE5.

Prabhudas Lilladhar

Shareholders reject Zee's promoter-led capital infusion, raising concerns about transparency and management conduct, impacting market perception...

May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

NFRA penalizes Deloitte and partners for audit lapses in Zee Entertainment's FD mismanagement, highlighting flaws in audit practices and the need...