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Den Networks Overview

DEN Networks Ltd is an India-based cable services provider. The Company is engaged in distribution of television channels through analog and virtual cable distribution network, and provision of broadband service. Its segments comprises Broadband and Cable. Cable section consists of distribution and promotion of tv channels. The Broadband segment provide Internet services. Its geographical segments comprises within India and overseas. The Company's services and products consists of cable television, consisting of DEN Digi View, DEN DigiI View HD...Read More

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Den Networks Key Financials

Market Cap ₹1326 Cr.

Stock P/E 6.7

P/B 0.4

Current Price ₹27.8

Book Value ₹ 79.3

Face Value 10

52W High ₹42.8

Dividend Yield 0%

52W Low ₹ 22.8

Den Networks Share Price

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Volume
Price

Den Networks Quarterly Price

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Den Networks Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 273 258 248 249 261 248 241 241 251 241
Other Income 51 55 55 69 55 65 71 52 57 53
Total Income 324 313 303 318 316 313 312 293 308 293
Total Expenditure 232 218 219 221 233 220 220 222 238 225
Operating Profit 92 95 83 97 83 93 92 71 70 68
Interest 1 1 1 1 1 1 1 0 0 0
Depreciation 28 28 26 27 26 26 24 23 23 21
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 63 66 57 69 56 66 67 47 47 47
Provision for Tax 14 -8 12 17 14 9 11 11 8 13
Profit After Tax 49 74 45 52 42 57 55 36 39 34
Adjustments -2 5 1 0 -2 5 -1 -1 -1 4
Profit After Adjustments 47 79 46 52 40 62 54 35 38 38
Adjusted Earnings Per Share 1 1.7 1 1.1 0.8 1.3 1.1 0.7 0.8 0.8

Den Networks Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1130 948 1157 1285 1206 1291 1307 1226 1130 1081 1005 974
Other Income 88 58 41 30 46 202 197 132 254 385 245 233
Total Income 1217 1006 1199 1315 1252 1494 1504 1357 1384 1466 1250 1206
Total Expenditure 1037 1060 979 1007 1023 1106 1057 1033 1120 1104 894 905
Operating Profit 180 -54 220 308 229 387 447 324 264 362 356 301
Interest 82 79 65 66 59 32 3 0 1 3 2 1
Depreciation 186 206 276 249 242 247 251 148 119 113 106 91
Exceptional Income / Expenses 0 -65 -31 -0 -211 0 0 0 0 0 0 0
Profit Before Tax -88 -404 -152 -7 -282 109 186 174 143 245 249 208
Provision for Tax 34 22 33 10 13 51 -3 3 -93 32 52 43
Profit After Tax -122 -426 -185 -17 -295 58 189 171 236 213 197 164
Adjustments -22 -6 -24 -18 18 12 9 5 6 2 3 1
Profit After Adjustments -144 -432 -208 -34 -277 70 198 176 243 215 200 165
Adjusted Earnings Per Share -8.1 -24.3 -10.8 -1.8 -5.8 1.5 4.2 3.7 5.1 4.5 4.2 3.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -7% -6% -5% -1%
Operating Profit CAGR -2% 3% -2% 7%
PAT CAGR -8% 5% 28% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -19% -2% -9% -11%
ROE Average 6% 7% 7% -4%
ROCE Average 7% 6% 6% 1%

Den Networks Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1712 970 813 786 2546 2603 2775 2953 3207 3420 3620
Minority's Interest 165 71 90 104 78 71 65 60 49 43 40
Borrowings 338 328 188 314 266 0 0 0 0 0 0
Other Non-Current Liabilities 63 332 350 384 253 251 101 53 -49 -51 -14
Total Current Liabilities 1131 1281 995 904 787 809 488 417 432 410 445
Total Liabilities 3409 2981 2436 2493 3930 3734 3428 3483 3639 3823 4091
Fixed Assets 1425 1474 1299 1186 935 763 609 557 562 515 463
Other Non-Current Assets 487 396 321 379 325 361 246 226 206 171 217
Total Current Assets 1497 1111 817 928 2671 2610 2574 2701 2870 3137 3411
Total Assets 3409 2981 2436 2493 3930 3734 3428 3483 3639 3823 4091

Den Networks Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 246 127 161 87 151 79 88 79 46 16 27
Cash Flow from Operating Activities 61 7 202 185 42 268 218 129 139 84 18
Cash Flow from Investing Activities -48 186 -3 -83 -2047 429 -361 -258 -54 -66 -22
Cash Flow from Financing Activities -109 -161 -277 -41 1933 -688 134 96 -115 -7 -7
Net Cash Inflow / Outflow -96 33 -78 61 -72 9 -9 -33 -30 11 -11
Closing Cash & Cash Equivalent 150 161 87 151 79 88 79 46 16 27 16

Den Networks Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -8.1 -24.28 -10.76 -1.76 -5.82 1.47 4.15 3.69 5.09 4.5 4.2
CEPS(Rs) 3.62 -12.36 4.72 11.88 -1.12 6.38 9.22 6.7 7.46 6.83 6.34
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 96.17 54.21 41.14 39.78 53.38 54.59 58.2 61.94 67.27 71.74 75.92
Core EBITDA Margin(%) 8.18 -11.84 15.45 21.66 15.15 14.34 19.13 15.73 0.93 -2.18 11.05
EBIT Margin(%) -0.51 -34.28 -7.49 4.63 -18.54 10.88 14.45 14.21 12.8 22.87 24.93
Pre Tax Margin(%) -7.79 -42.63 -13.12 -0.51 -23.41 8.42 14.19 14.19 12.68 22.63 24.72
PAT Margin (%) -10.77 -44.93 -15.97 -1.29 -24.47 4.45 14.45 13.96 20.91 19.69 19.57
Cash Profit Margin (%) 5.69 -23.18 7.89 18.06 -4.44 23.56 33.62 26.05 31.46 30.13 30.09
ROA(%) -3.46 -13.32 -6.82 -0.67 -9.19 1.5 5.28 4.95 6.64 5.7 4.97
ROE(%) -6.82 -31.85 -21 -2.1 -17.77 2.23 7.03 5.97 7.67 6.42 5.59
ROCE(%) -0.23 -15.59 -5.52 4.52 -10.29 4.81 6.76 6.08 4.7 7.46 7.12
Receivable days 127.62 127.23 78.41 76.25 79.94 50.86 31.87 24.77 25.62 33.08 47.13
Inventory Days 0 0 0 0 0 0 0 0 0 0 0
Payable days 0 0 0 0 0 0 0 7991.29 4685.49 0 0
PER(x) 0 0 0 0 0 20.21 11.86 10 5.25 10.46 7.44
Price/Book(x) 1.25 1.6 2.01 2.54 1.32 0.54 0.85 0.6 0.4 0.66 0.41
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.73 1.99 1.54 1.7 3.01 -0.56 1.55 0.86 -0.05 0.89 -0.21
EV/Core EBITDA(x) 10.86 -35.03 8.08 7.08 15.83 -1.86 4.55 3.26 -0.23 2.65 -0.58
Net Sales Growth(%) 2.88 -16.12 22.15 11.04 -6.15 7.08 1.24 -6.26 -7.76 -4.4 -6.97
EBIT Growth(%) -102.83 -5574.91 73.33 168.66 -475.94 162.84 34.39 -7.79 -16.92 70.84 1.4
PAT Growth(%) -261.89 -249.98 56.6 91.06 -1685.69 119.49 228.49 -9.45 38.16 -9.97 -7.55
EPS Growth(%) -474.7 -199.61 55.66 83.63 -230.37 125.21 182.96 -11.12 38.03 -11.61 -6.8
Debt/Equity(x) 0.37 0.89 0.63 0.68 0.19 0.08 0 0 0 0 0
Current Ratio(x) 1.32 0.87 0.82 1.03 3.39 3.23 5.28 6.48 6.64 7.64 7.67
Quick Ratio(x) 1.38 0.89 0.84 1.04 3.39 3.23 5.28 6.48 6.64 7.64 7.67
Interest Cover(x) -0.07 -4.11 -1.33 0.9 -3.81 4.41 56.41 626.48 103.06 96.04 119.93
Total Debt/Mcap(x) 0.29 0.55 0.31 0.27 0.14 0.15 0 0 0 0 0

Den Networks Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.9 74.9 74.9 74.9 74.9 74.9 74.9 74.9 74.9 74.9
FII 0.98 1.11 0.96 0.76 0.73 0.82 0.63 0.48 0.51 0.45
DII 0.16 0.17 0.18 0.19 0.2 0.14 0.14 0.14 0.14 0.14
Public 23.96 23.81 23.96 24.15 24.16 24.14 24.33 24.48 24.46 24.51
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Den Networks News

Den Networks Pros & Cons

Pros

  • Stock is trading at 0.4 times its book value
  • Company has delivered good profit growth of 27% CAGR over last 5 years
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 7% over the last 3 years.
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