Market Cap ₹1533 Cr.
Stock P/E 7.8
P/B 0.4
Current Price ₹32.1
Book Value ₹ 77.7
Face Value 10
52W High ₹46.7
Dividend Yield 0%
52W Low ₹ 28.2
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 and value-added offerings, and broadband, including DEN Boomband. DEN Digi View is a digital cable service with all channels in DVD. DEN DigiI View HD is a high definition cable carrier with 1080i video resolution and Dolby Digital. The Company has presence in Maharashtra, Gujarat, Rajasthan, Haryana, Delhi, Uttar Pradesh, Karnataka, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand.
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| #(Fig in Cr.) | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 273 | 277 | 273 | 258 | 248 | 249 | 261 | 248 | 241 | 241 |
| Other Income | 50 | 52 | 51 | 55 | 55 | 69 | 55 | 65 | 71 | 52 |
| Total Income | 323 | 328 | 324 | 313 | 303 | 318 | 316 | 313 | 312 | 293 |
| Total Expenditure | 242 | 234 | 232 | 218 | 219 | 221 | 233 | 220 | 220 | 222 |
| Operating Profit | 81 | 95 | 92 | 95 | 83 | 97 | 83 | 93 | 92 | 71 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Depreciation | 28 | 29 | 28 | 28 | 26 | 27 | 26 | 26 | 24 | 23 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 52 | 65 | 63 | 66 | 57 | 69 | 56 | 66 | 67 | 47 |
| Provision for Tax | 8 | 18 | 14 | -8 | 12 | 17 | 14 | 9 | 11 | 11 |
| Profit After Tax | 44 | 47 | 49 | 74 | 45 | 52 | 42 | 57 | 55 | 36 |
| Adjustments | -2 | -1 | -2 | 5 | 1 | 0 | -2 | 5 | -1 | -1 |
| Profit After Adjustments | 43 | 46 | 47 | 79 | 46 | 52 | 40 | 62 | 54 | 35 |
| Adjusted Earnings Per Share | 0.9 | 1 | 1 | 1.7 | 1 | 1.1 | 0.8 | 1.3 | 1.1 | 0.7 |
| #(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 | 991 |
| Other Income | 88 | 58 | 41 | 30 | 46 | 202 | 197 | 132 | 254 | 385 | 245 | 243 |
| Total Income | 1217 | 1006 | 1199 | 1315 | 1252 | 1494 | 1504 | 1357 | 1384 | 1466 | 1250 | 1234 |
| Total Expenditure | 1037 | 1060 | 979 | 1007 | 1023 | 1106 | 1057 | 1033 | 1120 | 1104 | 894 | 895 |
| Operating Profit | 180 | -54 | 220 | 308 | 229 | 387 | 447 | 324 | 264 | 362 | 356 | 339 |
| Interest | 82 | 79 | 65 | 66 | 59 | 32 | 3 | 0 | 1 | 3 | 2 | 3 |
| Depreciation | 186 | 206 | 276 | 249 | 242 | 247 | 251 | 148 | 119 | 113 | 106 | 99 |
| 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 | 236 |
| Provision for Tax | 34 | 22 | 33 | 10 | 13 | 51 | -3 | 3 | -93 | 32 | 52 | 45 |
| Profit After Tax | -122 | -426 | -185 | -17 | -295 | 58 | 189 | 171 | 236 | 213 | 197 | 190 |
| 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 | 191 |
| 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 | 3.9 |
| # | 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 | -30% | -1% | -14% | -12% |
| ROE Average | 6% | 7% | 7% | -4% |
| ROCE Average | 7% | 6% | 6% | 1% |
| #(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 |
| #(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 |
| # | 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 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.9 | 74.9 | 74.9 | 74.9 | 74.9 | 74.9 | 74.9 | 74.9 | 74.9 | 74.9 |
| FII | 1.24 | 1.3 | 0.98 | 1.11 | 0.96 | 0.76 | 0.73 | 0.82 | 0.63 | 0.48 |
| DII | 0.2 | 0.21 | 0.16 | 0.17 | 0.18 | 0.19 | 0.2 | 0.14 | 0.14 | 0.14 |
| Public | 23.66 | 23.59 | 23.96 | 23.81 | 23.96 | 24.15 | 24.16 | 24.14 | 24.33 | 24.48 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 35.75 | 35.75 | 35.75 | 35.75 | 35.75 | 35.75 | 35.75 | 35.75 | 35.75 | 35.74 |
| FII | 0.59 | 0.62 | 0.47 | 0.53 | 0.46 | 0.36 | 0.35 | 0.39 | 0.3 | 0.23 |
| DII | 0.09 | 0.1 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.06 | 0.06 | 0.06 |
| Public | 11.29 | 11.26 | 11.43 | 11.36 | 11.43 | 11.52 | 11.53 | 11.52 | 11.61 | 11.68 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 47.72 | 47.72 | 47.72 | 47.72 | 47.72 | 47.72 | 47.72 | 47.72 | 47.72 | 47.72 |
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