Den Networks Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Cable: 95.8% • Broadband: 4.2%
AI Sector View
AI GENERATEDMedia Entertainment & Publication
This sector uses indirect proxies rather than direct ad-spend data. Urban CMIE sentiment at 109.5 (2026-07), disposable personal income of INR 353131560 million (Dec/25), and consumer spending of INR 44743 billion (Jun/26) are supportive, but formal consumer confidence weakened to 88.3 (Jul/26). FPI flow is mildly negative at INR -558 crore over 3 months to 2026-08-31, so the stance remains neutral and confidence is capped.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (171.1% of PBT)
- Recent results are weak - TTM profit is down 35.4% versus prior year
- Company has a low return on capital employed of 6.8%
- Company has a low return on equity of 5.5% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUNTV | 475.45 | 12.25 | 18736.75 | 2.63 | 619.07 | 16.98 | 1457.88 | 12.99 | 16.08 | 50.64 |
| ZEEL | 79.43 | 37.09 | 7629.41 | 2.52 | 74.30 | -48.30 | 1907.30 | 4.52 | 2.70 | 5.22 |
| NETWORK18 | 26.65 | 0.00 | 4109.43 | 0.00 | -38.36 | -102.58 | 516.26 | 10.34 | 4.63 | 8.76 |
| DEN | 27.00 | 8.69 | 1288.50 | 0.00 | 34.59 | -35.52 | 242.77 | 0.62 | 5.67 | 4.74 |
| NDTV | 71.96 | 0.00 | 811.89 | 0.00 | -818.80 | -1064.56 | 1172.30 | 988.99 | -91.45 | -58.02 |
| GTPL | 59.88 | 89.59 | 673.43 | 3.34 | 1.38 | -81.20 | 1015.41 | 12.36 | 6.75 | 10.31 |
| TVTODAY | 110.10 | 38.28 | 656.95 | 0.00 | 10.26 | 39.59 | 206.22 | 4.58 | 3.58 | 7.66 |
| ZEEMEDIA | 7.45 | 33.15 | 488.29 | 0.00 | -12.12 | -37.57 | 190.85 | 4.66 | -35.79 | 8.52 |
| ENIL | 102.10 | 0.00 | 486.71 | 1.96 | -6.01 | -14.22 | 113.68 | -1.26 | -2.19 | 7.94 |
| DISHTV | 2.52 | 0.00 | 464.00 | 0.00 | -2863.00 | -2928.67 | 2658.30 | 707.11 | 0.00 | -40.89 |
| NDLVENTURE | 125.35 | 557.56 | 422.07 | 0.40 | -46.36 | -69.15 | 245.22 | -9.40 | 1.69 | 12.47 |
| RADIOCITY | 6.13 | 4.52 | 211.91 | 0.00 | 0.00 | — | 44.14 | — | -8.67 | 9.64 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 273 | 277 | 273 | 258 | 248 | 249 | 261 | 248 | 241 | 241 | 251 | 241 | 243 | |
| 242 | 234 | 232 | 218 | 219 | 221 | 233 | 220 | 220 | 222 | 238 | 225 | 251 | |
| Operating Profit | 31 | 43 | 41 | 40 | 28 | 28 | 28 | 28 | 21 | 19 | 13 | 15 | -8 |
| OPM % | 11.33% | 15.58% | 14.90% | 15.51% | 11.37% | 11.18% | 10.61% | 11.46% | 8.70% | 7.87% | 5.22% | 6.37% | -3.18% |
| 50 | 52 | 51 | 55 | 55 | 69 | 55 | 65 | 71 | 52 | 57 | 53 | 55 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 28 | 29 | 28 | 28 | 26 | 27 | 26 | 26 | 24 | 23 | 23 | 21 | 20 |
| Profit before Tax | 52 | 65 | 63 | 66 | 57 | 69 | 56 | 66 | 67 | 47 | 46 | 47 | 46 |
| Tax % | 14.82% | 28.09% | 22.32% | -12.53% | 21.33% | 24.95% | 24.26% | 13.37% | 16.96% | 23.00% | 16.24% | 27.11% | 25.60% |
| Net Profit | 0 | 0 | 0 | 0 | 43 | 52 | 42 | 60 | 54 | 35 | 40 | 36 | 35 |
| 0.89 | 0.96 | 0.99 | 1.66 | 0.95 | 1.09 | 0.85 | 1.30 | 1.14 | 0.74 | 0.80 | 0.81 | 0.77 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,157 | 1,285 | 1,206 | 1,291 | 1,307 | 1,226 | 1,130 | 1,081 | 1,005 | 974 | 976 | |
| 979 | 1,007 | 1,023 | 1,106 | 1,057 | 1,033 | 1,120 | 1,104 | 894 | 1,030 | 936 | |
| Operating Profit | 179 | 278 | 183 | 185 | 250 | 193 | 11 | -24 | 111 | -55 | 40 |
| OPM % | 15.45% | 21.66% | 15.15% | 14.34% | 19.13% | 15.73% | 0.93% | -2.18% | 11.05% | -5.69% | 4.07% |
| 11 | 30 | -165 | 202 | 197 | 132 | 254 | 385 | 245 | 356 | 217 | |
| Interest | 65 | 66 | 59 | 32 | 3 | 0 | 1 | 3 | 2 | 2 | 2 |
| Depreciation | 276 | 249 | 242 | 247 | 251 | 148 | 119 | 113 | 106 | 91 | 87 |
| Profit before Tax | -152 | -7 | -282 | 109 | 186 | 174 | 143 | 245 | 249 | 208 | 187 |
| Tax % | -21.73% | -151.81% | -4.56% | 47.09% | -1.83% | 1.61% | -64.95% | 13.01% | 20.85% | 20.42% | 23.00% |
| Net Profit | -185 | -17 | -295 | 58 | 189 | 171 | 236 | 213 | 197 | 166 | 144 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 4.15 | 3.69 | 5.09 | 4.50 | 4.20 | 3.48 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 0%
- 5 Years:
- -6%
- 3 Years:
- -5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -3%
- 3 Years:
- -12%
STOCK PRICE CAGR
- 10 Years:
- -9%
- 5 Years:
- -11%
- 3 Years:
- -13%
- 1 Year:
- -25%
RETURN ON EQUITY
- 10 Years:
- 0%
- 5 Years:
- 6%
- 3 Years:
- 5%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 194 | 195 | 477 | 477 | 477 | 477 | 477 | 477 | 477 | 477 |
| Minority Interest | 90 | 104 | 78 | 71 | 65 | 60 | 49 | 43 | 40 | 41 |
| 603 | 582 | 2,068 | 2,126 | 2,298 | 2,476 | 2,731 | 2,943 | 3,143 | 3,308 | |
| 721 | 895 | 747 | 405 | 113 | 63 | 58 | 41 | 33 | 28 | |
| Trade Payables | 330 | 255 | 264 | 370 | 290 | 249 | 267 | 262 | 292 | 286 |
| 498 | 462 | 296 | 285 | 186 | 158 | 58 | 56 | 73 | 21 | |
| Total Liabilities | 2,436 | 2,493 | 3,930 | 3,734 | 3,428 | 3,483 | 3,639 | 3,823 | 4,058 | 4,161 |
| 1,299 | 1,186 | 935 | 763 | 609 | 557 | 562 | 515 | 463 | 404 | |
| Capital Work in Progress | 45 | 50 | 19 | 21 | 37 | 21 | 29 | 18 | 14 | 8 |
| 101 | 127 | 2,139 | 69 | 2,140 | 1,913 | 1,426 | 1,709 | 1,516 | 210 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 109 | 150 | 107 | |
| Cash & Bank | 326 | 318 | 225 | 2,349 | 316 | 701 | 1,334 | 1,287 | 1,695 | 3,139 |
| 665 | 811 | 613 | 532 | 327 | 292 | 288 | 185 | 219 | 293 | |
| Total Assets | 2,436 | 2,493 | 3,930 | 3,734 | 3,428 | 3,483 | 3,639 | 3,823 | 4,058 | 4,161 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 265 | 193 | 77 | 268 | 155 | 119 | 104 | 84 | 18 | -17 | |
| Cash from Investing | -3 | -83 | -2,047 | 429 | -361 | -258 | -54 | -66 | -22 | 24 |
| Cash from Financing | -277 | -41 | 1,933 | -688 | 134 | 96 | -115 | -7 | -7 | -3 |
| -78 | 61 | -72 | 9 | -9 | -33 | -30 | 11 | -11 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Den Networks Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 02, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-02 - Gist of the proceedings of the Nineteenth Annual General Meeting of the Company held today, i.e. Wednesday, September 2, 2026 is attached
2026-08-14 - Den Networks Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - The newspaper clippings of the advertisement on Nineteenth Annual General Meeting andInformation on E-voting" and other related information published today i.e. August 12, 2026 in the newspapers are enclosed for information and records.
2026-08-11 - The Business Responsibility and Sustainability Report of the Company for the financial year 2025-26, is attached.
2026-08-11 - Den Networks Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 02, 2026
2026-08-07 - Newspaper clippings - Annual General Meeting of the Members of the Company and other related information published today i.e. August 7, 2026 in the newspapers are enclosed for information and records
2026-08-06 - The 19th Annual General Meeting of the Members of the Company will be held on Wednesday, September 2, 2026 at 12:30 P.M. (IST) through Video Conferencing / Other Audio Visual Means
2026-07-14 - Den Networks Limited has informed the Exchange regarding 'Investor Presentation'.
News
Recent coverage and analyst commentary for DEN
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