Zee Entertainment identifies businesses that need assessment, launches 3M program

Zee Entertainment has institutionalised a structure called the Monthly Management Mentorship (3M) program to guide and enable the management team to achieve key performance metrics, including the targeted 20% EBITDA margin, proposed by Zee MD & CEO Punit Goenka.

The company's board has also formed a special committee to review the management's business performance and provide the required directional guidance.

"Under the able leadership of Mr. Punit Goenka as the MD & CEO of the Company, the businesses are well-aligned and focused towards the set goals for the future," Zee Chairman R Gopalan said.

The 3M committee has also conducted a detailed analysis of the Technology and Innovation centre, which incurred a ₹600 crore expenditure last year, and highlighted the need to immediately focus on Return on Investment (RoI). The committee has advised that the management should halve its expenditure at the TIC for financial year 2025.

Zee's music business has been asked by the committee to increase the vertical's contribution to the overall bottomline of the company. The division has also been asked to further optimise costs, without losing its leadership position in the market.

Shares of Zee Entertainment ended 2.7% lower at ₹138.65. The stock is down 34% in the last 12 months. The stock remains in the F&O ban, which means no new positions can be created in the stock.