Network 18 Media & Investments Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2014 • Web Operations: 41.8% • Publishing Business: 37.5% • Events & Sports Managment: 18.6%
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 has a good return on equity (ROE) track record: 3 Years ROE 32.7%
- Company has a healthy return on capital (ROCE) of 21.4%
- Company has delivered good sales growth of 75.2% CAGR over last 5 years
- Operating margins have improved to 2.2% from -25.7%
CONS
- Recent results are weak - TTM profit is down 135.1% versus prior year
- Operating cash flow has been negative in recent years
- Promoter holding has decreased over last 2 years: -18.1pp
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.03x)
- Equity base is being diluted - shares outstanding up 47.3%
- Effective tax rate is unusually low at 0.0% - earnings may be flattered
* 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
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 40 | 420 | 469 | 535 | 453 | 445 | 476 | 522 | 430 | 477 | 500 | 547 | 475 | |
| 61 | 430 | 447 | 494 | 450 | 438 | 466 | 508 | 426 | 470 | 489 | 525 | 556 | |
| Operating Profit | -21 | -10 | 22 | 41 | 2 | 7 | 11 | 13 | 4 | 7 | 12 | 22 | -81 |
| OPM % | -52.03% | -2.35% | 4.61% | 7.75% | 0.55% | 1.57% | 2.22% | 2.57% | 0.97% | 1.54% | 2.36% | 4.07% | -17.04% |
| 2 | 7 | 2 | 2 | 5 | 2 | 3,506 | 2 | 596 | 2 | -39 | -12 | 3 | |
| Interest | 43 | 45 | 46 | 50 | 52 | 53 | 54 | 55 | 52 | 48 | 50 | 54 | 57 |
| Depreciation | 1 | 34 | 21 | 25 | 30 | 31 | 31 | 30 | 31 | 31 | 30 | 29 | 29 |
| Profit before Tax | -64 | -83 | -43 | -31 | -75 | -74 | 3,432 | -69 | 516 | -70 | -108 | -73 | -78 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.03% | -0.00% | -0.00% | 0.00% | -0.00% | 0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Net Profit | -64 | -83 | -43 | -31 | -75 | -74 | 3,432 | -69 | 516 | -70 | -108 | -73 | -78 |
| -0.61 | -0.54 | -0.28 | -0.20 | -0.48 | -0.48 | 22.26 | -0.45 | 3.35 | -0.45 | -0.70 | -0.47 | -0.51 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 67 | 95 | 112 | 111 | 119 | 167 | 187 | 1,818 | 1,896 | 1,955 | 2,000 | |
| 122 | 168 | 294 | 226 | 151 | 164 | 242 | 1,800 | 1,863 | 1,913 | 2,039 | |
| Operating Profit | -55 | -73 | -183 | -115 | -33 | 3 | -55 | 18 | 33 | 42 | -40 |
| OPM % | -82.32% | -76.82% | -163.59% | -102.78% | -27.46% | 1.87% | -29.22% | 0.99% | 1.76% | 2.15% | -1.98% |
| 15 | 94 | -329 | -222 | 9 | 11 | 7 | 19 | 3,515 | 550 | -46 | |
| Interest | 70 | 86 | 116 | 128 | 103 | 99 | 134 | 186 | 213 | 205 | 209 |
| Depreciation | 9 | 8 | 7 | 7 | 7 | 5 | 4 | 101 | 122 | 122 | 119 |
| Profit before Tax | -119 | -73 | -634 | -471 | -133 | -90 | -187 | -251 | 3,213 | 266 | -328 |
| Tax % | -0.03% | -0.30% | -0.04% | -0.11% | -0.00% | -0.00% | -0.00% | 25.99% | 0.00% | 0.00% | -0.00% |
| Net Profit | -119 | -74 | -635 | -472 | -133 | -90 | -187 | -185 | 3,213 | 266 | -328 |
| EPS | -1.13 | -0.70 | -6.06 | -4.51 | -1.27 | -0.86 | -1.78 | -1.77 | 20.84 | 1.72 | — |
| 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:
- 40%
- 5 Years:
- 75%
- 3 Years:
- 119%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -5%
- 5 Years:
- -12%
- 3 Years:
- -26%
- 1 Year:
- -51%
RETURN ON EQUITY
- 10 Years:
- -1%
- 5 Years:
- 14%
- 3 Years:
- 33%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 523 | 523 | 523 | 523 | 523 | 523 | 523 | 523 | 771 | 771 |
| 2,016 | 1,823 | 1,178 | 651 | 514 | 419 | 458 | 675 | 3,901 | 4,188 | |
| 1,149 | 1,602 | 2,101 | 2,221 | 2,338 | 2,421 | 2,610 | 2,697 | 2,942 | 3,266 | |
| Trade Payables | 36 | 41 | 48 | 22 | 21 | 14 | 24 | 313 | 434 | 374 |
| 240 | 252 | 269 | 305 | 285 | 294 | 78 | 554 | 270 | 358 | |
| Total Liabilities | 3,964 | 4,242 | 4,119 | 3,722 | 3,681 | 3,672 | 3,693 | 4,763 | 8,318 | 8,958 |
| 28 | 310 | 309 | 308 | 305 | 300 | 298 | 1,755 | 1,721 | 1,672 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 0 | 0 |
| 3,643 | 3,558 | 3,558 | 3,272 | 3,259 | 3,255 | 3,263 | 2,091 | 5,557 | 6,117 | |
| 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 571 | 628 | 679 | |
| Cash & Bank | 3 | 14 | 2 | 2 | 2 | 2 | 0 | 16 | 2 | 34 |
| 289 | 359 | 249 | 139 | 115 | 116 | 130 | 328 | 409 | 456 | |
| Total Assets | 3,964 | 4,242 | 4,119 | 3,722 | 3,681 | 3,672 | 3,693 | 4,763 | 8,318 | 8,958 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -54 | -75 | -74 | -71 | -23 | 14 | -61 | 125 | 12 | -24 | |
| Cash from Investing | -378 | 39 | -351 | 53 | 5 | -1 | -2 | -286 | -25 | -28 |
| Cash from Financing | 431 | 39 | 399 | 20 | 0 | -15 | 54 | 166 | -1 | 84 |
| -3 | 1 | -12 | -0 | -0 | 1 | -0 | 5 | -14 | 32 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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
2026-08-22 - Newspaper Advertisement Notice of the 31st Annual General Meeting.
2026-08-21 - Business Responsibility and Sustainability Report for the financial year 2025-26.
2026-08-21 - Annual Report for the Financial Year 2025-26 including Notice convening the 31st Annual General Meeting.
2026-08-21 - Significant increase in volume has been observed in Network18 Media & Investments Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Network18 Media & Investments Limited has submitted their response.
2026-08-20 - Significant increase in volume has been observed in Network18 Media & Investments Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-20 - Newspaper clippings regarding 31st Annual General Meeting of the Member of the Company and Special Window for re-lodgement of transfer deed / transfer & dematerialization of Physical shares of the Company purchased prior to April 1, 2019.
2026-08-19 - 31st Annual General Meeting of the Members of the Company and cut-off date for e-voting
2026-08-17 - Newspaper clippings Notice of hearing and final disposal of Company Scheme Petition in the matter of amalgamation of News18 Marathi Private Limited (a wholly owned subsidiary of the Company) with the Company.
2026-07-15 - Network18 Media & Investments Limited has informed the Exchange regarding a press release dated July 15, 2026, titled "Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Investors Update".
News
Recent coverage and analyst commentary for NETWORK18
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