DEN Networks Ltd
NSE: DEN · TV Broadcasting & Software Production · sector
₹24.62NSE close 2026-10-26
Key numbers
Market cap₹1,174 cr
Price₹24.62
52w high / low₹34 / ₹23
P/E7.8xSector median 13.0x
P/B0.3xSector median 0.8x
Book value₹80.9
Dividend yield–Sector median 3.37%
ROE4.0%Sector median 0.6%
ROCE5.0%Sector median 2.4%
OPM5.3%Sector median 3.1%
Debt / equity0.00xSector median 0.02x
EV/EBITDA-43.8xSector median 10.8x
Interest cover123.0x
Current ratio7.01x
Sales growth 3y-4.8%Sector median -5.5%
Profit growth 3y-11.9%Sector median -8.3%
PEG–
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 19 companies in TV Broadcasting & Software Production (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹3,283 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 123.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- Other income was 151% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹24.62 on 2026-10-26: -28.4% from the 52-week high, +9.3% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹54.42 · low ₹24.62
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 261 | 248 | 241 | 241 | 251 | 241 | 243 | 233 |
| EBITDA | 28 | 28 | 21 | 19 | 13 | 15 | 13 | 10 |
| OPM % | 10.6% | 11.5% | 8.7% | 7.9% | 5.2% | 6.4% | 5.2% | 4.3% |
| Other income | 55 | 65 | 71 | 52 | 57 | 53 | 55 | 61 |
| Net profit | 40 | 62 | 54 | 35 | 38 | 38 | 37 | 36 |
| EPS (₹) | 0.85 | 1.30 | 1.14 | 0.74 | 0.80 | 0.81 | 0.77 | 0.76 |
| Revenue YoY | -3.7% | -3.0% | +0.6% | -3.7% | ||||
| Profit YoY | -5.8% | -38.2% | -32.3% | +3.7% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,226 | 1,130 | 1,081 | 1,005 | 974 | 967 |
| EBITDA | 203 | 152 | 155 | 112 | 68 | 51 |
| Net profit | 176 | 243 | 215 | 200 | 166 | 150 |
| EPS (₹) | 3.69 | 5.09 | 4.50 | 4.20 | 3.48 | 3.14 |
| Revenue growth | -7.8% | -4.4% | -7.0% | -3.1% | -2.5% | |
| Profit growth | +38.0% | -11.6% | -6.8% | -17.1% | -22.1% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -4.8% | -5.7% | -2.5% |
| Net profit | -12.0% | -3.5% | -22.1% |
| EPS | -11.9% | -3.5% | – |
| Share price | – | -26.0% (2y) | -25.7% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 3,207 | 3,420 | 3,620 | 3,785 |
| Borrowings | – | 0 | 0 | 0 | 0 |
| Cash & equivalents | – | 2,693 | 2,931 | 3,146 | 3,283 |
| Total assets | – | 3,759 | 3,927 | 4,142 | 4,283 |
| Fixed assets | – | 403 | 353 | 307 | 251 |
| Capital work in progress | – | 29 | 18 | 14 | 8 |
| Investments | – | 67 | 65 | 65 | 66 |
| Receivables | – | 87 | 109 | 150 | 107 |
| Inventory | – | 0 | 0 | 0 | 0 |
| Payables | – | 267 | 262 | 292 | 286 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 129 | 139 | 84 | 18 | -17 |
| Cash from investing | -258 | -54 | -66 | -22 | 24 |
| Cash from financing | 96 | -115 | -7 | -7 | -3 |
| Capex | 103 | 99 | 54 | 41 | 41 |
| Free cash flow | 26 | 40 | 30 | -23 | -58 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 7.6% | 6.3% | 5.5% | 4.4% |
| ROCE % | – | 4.5% | 7.3% | 6.9% | 5.5% |
| Debtor days | – | 28 | 37 | 55 | 40 |
| Inventory days | – | 0 | 0 | 0 | 0 |
| Payable days | – | 86 | 89 | 106 | 107 |
| Cash conversion cycle (days) | – | -58 | -52 | -51 | -67 |
| Working capital days | – | 787 | 921 | 1,077 | 1,170 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.90% |
| FIIs | 0.33% |
| DIIs | 0.00% |
| of which Mutual funds | 0.00% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 24.67% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% | 74.90% |
| Promoter group | % |
|---|---|
| JIO Futuristic Digital Holdings Private Limited | 35.94% |
| JIO Television Distribution Holdings Private Limited | 15.47% |
| JIO Digital Distribution Holdings Private Limited | 15.02% |
| Sameer Manchanda | 3.69% |
| Lucid Systems Private Limited | 3.35% |
| Kavita Manchanda | 0.79% |
| Reliance Industrial Investments and Holdings Limited | 0.31% |
| Network 18 Media & Investments Limited | 0.15% |
| Reliance Ventures Limited | 0.10% |
| Vandana Manchanda | 0.08% |
| Sanjeev Manchanda | 0.01% |
| DIGITAL MEDIA DISTRIBUTION TRUST (through its Trustee Reliance Media Transmission Private Limited) | 0.00% |
| Reliance Industries Limited | 0.00% |
| Reliance Content Distribution Limited | 0.00% |
| JIO Financial Services Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Clarity Credence Private limited | 1.02% |
1,44,112 shareholders. Pledged: 0.00% of promoter shares.
Peers in TV Broadcasting & Software Production
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUNTV | ₹22,545 cr | 14.7x | 1.8x | 12.6% | 16.6% | 50.1% | +4.7% | 2.18% |
| ZEEL | ₹6,173 cr | 30.3x | 0.5x | 1.8% | 1.7% | 3.1% | +0.1% | 3.78% |
| HATHWAY | ₹1,591 cr | 23.7x | 0.3x | 1.5% | 2.1% | 13.0% | +5.0% | – |
| DEN | ₹1,174 cr | 7.8x | 0.3x | 4.0% | 5.0% | 5.3% | -4.8% | – |
| TVTODAY | ₹601 cr | 34.9x | 0.7x | 1.9% | 2.8% | 2.4% | -2.7% | 2.98% |
| GTPL | ₹600 cr | – | 0.5x | -0.2% | 2.8% | 10.1% | +11.8% | 3.75% |
| NDTV | ₹509 cr | – | 4.0x | -357.1% | -96.5% | -51.3% | +11.0% | – |
| ZEEMEDIA | ₹438 cr | – | 2.0x | -0.6% | 5.2% | 12.7% | +1.8% | – |
| DISHTV | ₹365 cr | – | – | – | – | -30.2% | -19.9% | – |
| AQYLON | ₹352 cr | 29.9x | – | – | – | 72.8% | – | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Cable distribution network | ₹950 cr | 95.8% | ₹-20 cr | -2.1% |
| Broadband | ₹42 cr | 4.2% | ₹-3 cr | -6.8% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2018-11-05 | Other | Extra Ordinary General Meeting |
| 2018-09-10 | Other | Annual General Meeting |
| 2017-09-20 | Other | Annual General Meeting |
| 2016-09-20 | Other | Annual General Meeting |
| 2015-09-18 | Other | Annual General Meeting |
| 2014-09-17 | Other | Annual General Meeting |
| 2013-09-10 | Other | Annual General Meeting |
| 2013-05-29 | Other | Extra Ordinary General Meeting |
| 2012-09-17 | Other | Annual General Meeting |
| 2011-09-16 | Other | Annual General Meeting |
| 2010-09-01 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Cable Service Provider (Information and Communication): The Company provides Cable TV services to its customers directly or through business partners Local Cable Operators (LCOs)
| Sector | Consumer Discretionary |
| Industry | TV Broadcasting & Software Production |
| Sub-industry | TV Broadcasting & Software Production |
| Symbol | DEN |
| BSE code | 533137 |
| ISIN | INE947J01015 |
| Face value | ₹10.0 |
| Incorporated | 2007-07-10 |
| Website | www.dennetworks.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.