Published: [October 23, 2026]
StartupFeed Quick Take
- TV and audio revenue stayed flat at Rs 6,529 crore in FY26
- Net profit rose 19% to Rs 186.88 crore, helped by Rs 17.53 crore of cost cuts
- Gaming and cameras added Rs 67 crore, nearly the whole rise in total revenue
Sony India’s television and audio sales stayed flat at Rs 6,529 crore in FY26, even after the GST cut on large screens.
The Registrar of Companies filing shows revenue from operations of Rs 7,917.99 crore for the year to March 31, 2026. That is 0.85% above the Rs 7,851.08 crore of FY25.
Net profit rose 19% to Rs 186.88 crore, from Rs 157.03 crore a year earlier. The extra money did not come from selling more.
Sony India is still far below its own peak. Revenue crossed Rs 11,000 crore in FY15, before the parent left the phone and laptop business. FY26 sales sit more than a quarter under that mark.
Sony India Grew Profit by Cutting Costs, Not by Selling More
Royalty paid to the parent for the Sony trademark fell 5.92% to Rs 260.26 crore. It was Rs 276.66 crore in FY25. That is Rs 16.40 crore saved.
Advertising and promotion spending also dipped, to Rs 182.58 crore from Rs 183.71 crore. Together the two cuts freed Rs 17.53 crore. Profit rose by Rs 29.85 crore.
We counted those two lines ourselves. Nearly three-fifths of the extra profit came from spending less, not from selling more.
Total expenses edged up to Rs 7,770.15 crore from Rs 7,704.58 crore. Total income, including other income, rose 1.32% to Rs 8,022.73 crore. Net margin improved to 2.4% from 2.0%.
India is now Sony’s fourth-largest market, after the United States, China and Japan. The company wants India to be third, ahead of Japan.
Gaming and Cameras Carried the Entire Revenue Growth
The audio-visual unit covers televisions, home theatre systems and personal audio. It is the business Sony is best known for in Indian homes.
Sony India’s other businesses cover gaming consoles and digital cameras. That unit grew to Rs 1,389 crore in FY26, from Rs 1,322 crore.
That is Rs 67 crore of fresh sales, a rise of about 5%. Total revenue grew Rs 66.91 crore in the same year. The smaller unit carried all of it.
Television and audio still make up about 82% of what Sony India sells. A flat year there leaves the whole company flat.
| Line item (Rs crore) | FY25 | FY26 | Change |
|---|---|---|---|
| TV, home theatre, personal audio | 6,529 | 6,529 | Flat |
| Gaming consoles, digital cameras | 1,322 | 1,389 | Up 5% |
| Revenue from operations | 7,851.08 | 7,917.99 | Up 0.85% |
| Royalty to parent | 276.66 | 260.26 | Down 5.92% |
| Advertising and promotion | 183.71 | 182.58 | Down 0.6% |
| Net profit | 157.03 | 186.88 | Up 19% |
The FY25 split in that table is our own working, from the filing totals. The two segment lines add up to the reported revenue in both years.
The filing gives no reason for the flat sales. Sony India’s directors’ report calls FY26 a year of building a stronger base in a hard market. The company also said it kept its share of the premium segment.
The GST Cut Helped the Market, Not the Premium Leader
The GST Council met on September 3, 2025 and moved all televisions to 18%. Sets above 32 inches had been taxed at 28%. The new rate started on September 22, 2025.
Sony India passed the cut on. It lowered Bravia prices by Rs 5,000 to Rs 71,000 on sets from 43 inches to 98 inches.
A Counterpoint Research report on the 2025 smart TV market shows shipments were broadly flat for the year. Shipments in the December quarter rose 10%. Festive offers and the tax cut did that work.
Buyers moved to bigger screens. The 43-inch size shipped the most units, while sets of 55 inches and above drove the growth. The Rs 40,000 to Rs 50,000 band beat the market.
Anshika Jain, who tracks the market for Counterpoint Research, put it this way:
“we expect steady growth in 2026 as replacement cycle kicks in”
Anshika Jain, principal research analyst, Counterpoint Research. From Counterpoint’s India smart TV shipment report for 2025, published 2026.
What the TCL Deal Means for Bravia Buyers in India
Sony is handing control of this business to a Chinese rival. In a statement on January 20, 2026, Sony said TCL Electronics will hold 51% of a new home entertainment company.
Sony keeps 49%. TCL is paying about 75.4 billion yen. The venture starts work in April 2027, if regulators clear it.
Televisions will still carry the Sony and Bravia names. The panels and the factories behind them will be TCL’s.
In India, Sony sells against Samsung and LG at the top end. Xiaomi, Hisense and Haier push up from below. Flat revenue in a growing market is a share loss.
Sony India has not said how the deal will change its local operations. The parent’s statement covers the global business only.
What this means for you: If you sell premium electronics in India, FY26 shows that a tax cut alone will not move your volumes. Watch TCL’s India pricing from April 2027 before you lock your own premium range for that year.
StartupFeed Insight
The Rs 67 crore that gaming and cameras added is almost exactly the Rs 66.91 crore by which Sony India’s whole revenue grew. Strip out PlayStation and the cameras, and the company did not grow at all in FY26. The profit story is a cost story too: Rs 17.53 crore of the Rs 29.85 crore gain came from lower royalty and advertising. That well runs dry. Watch the FY27 filing, due around October 2027. If the audio-visual line is still near Rs 6,529 crore, the TCL venture will be Sony’s real answer in India.
By Saraswati Chaubey, Writer
Disclaimer: This article is for information only and is not investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. Please speak to a SEBI-registered advisor before investing.
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