Madison Communications' revenue up 19% to Rs 3,500 crore

As per the media agency's financials, the agency’s total profit for the year stands at Rs 34 crore

by Chehneet Kaur
Published: Jan 6, 2025 8:50 AM | 3 min read

Madison Communications recorded total revenue from operations at Rs 3,537 crore, 18.9% higher than Rs 2,974 crore in the 2022-23 fiscal. Subsequently, the total revenue was Rs 3,554.8 crore in FY24, marking a 19% increase from the previous fiscal.

The agency’s total profit for the year stands at Rs 33.6 crore, 75% higher than FY23. In FY23, it was Rs 19.2 crore.

Madison Communications (as described in the report sourced from ROC), is principally engaged in providing an entire range of communication services, which include advertising, media planning and buying, media research, sales promotion, corporate communication and public relations.

The company recognises commission income from advertisements placed with media (print, electronic, digital, etc.) when the advertisement is printed, published, or aired, depending on the medium.

However, the same report also mentions, reporting under Accounting Standard 17 has not been done owing to the complex nature of operations of the Company. Therefore, given the basic nature of operations of the Company, it is not practicable to arrive at a segmental split and such a disclosure is not made.

It is also important to understand that the three promoters of the company—Sam Balsara, Laura Balsara, and Vikram Sakhuja serve as key managerial personnel in a host of companies.

With varying degrees of involvement, this list includes, Advertising Agencies Association Of India, Footballedge Management Private Limited, Entrust Communications Private Limited, Moms Outdoor Media Solutions Private Limited, Madison Teamworks Film Promotions And Entertainment Private Limited, Madison Resource Foundation, Madison Specialist Communication Services Private Limited, Hiveminds Innovative Market Solutions Private Limited, Field Sport Player Management Private Limited, Platinum Advertising Private Limited, Madison Xurpas Mobile Services Private Limited, Platinum Communications Private Limited, Madison Retail Paradigm Private Limited, Out-Sel Promotions India Private Limited, Professional Management Group Private Limited, Blue Star Limited, Integrated Brandcom Private Limited, Madison Specialist Communications LLP, Audit Bureau Of Circulations, Jagran Prakashan Limited, Media Research Users Council India, Nobel Hygiene Private Limited, PMG Sports LLP, Principle Healthcare & Wellness Private Limited, Vaspan Healing Private Limited, Maximised Qualified Leads LLP and Lemma Technologies Private Limited.

In some cases, all three are involved, while in others, their roles are in an independent capacity.

Media services apart, the creative arm of Madison has conceptualised ad campaigns in the past for a host of brands, ranging from Saffola to Asian Paints to Blue Star to HIT.

In 2024, the agency also retained its account with Parag Milk Foods. They won multiple media accounts, including NIC Ice Cream, Liquify, Pilgrim India, and Sun Neo.

One of the most noteworthy achievements for Madison was winning BJP's media planning and buying account for the 2024 elections. The agency also handled the Narendra Modi-led party's media strategies for the 2014 and 2019 general elections too. The party’s overall media expenditures were set to be over Rs 1,800 crore and the mandate included campaigns on print, TV and radio.