Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹713 Cr.
Stock P/E
-2.2
P/B
15.3
Current Price
₹63.2
Book Value
₹ 4.1
Face Value
4
52W High
₹104.6
52W Low
₹ 58.8
Dividend Yield
0%

New Delhi Television Overview

Business

New Delhi Television Ltd. (NDTV) is an Indian news media company primarily engaged in television broadcasting and digital content operations. Its core business involves operating several news channels, including NDTV 24x7 (English news), NDTV India (Hindi news), and NDTV Profit (business news). The company generates revenue primarily through advertising sales on its television channels and digital platforms, as well as through content syndication and production services. It aims to provide credible news and analysis across various platforms to its Indian and global audience.

Revenue Mix

NDTV's primary revenue streams are derived from two main segments:

Television Broadcasting: This segment involves the operation of its news channels (NDTV 24x7, NDTV India, NDTV Profit). Revenue is largely generated through advertising slots sold during news programming and commercial breaks.

Digital Media: This segment encompasses its online news portals (ndtv.com), mobile applications, and presence on various social media platforms. Revenue here is generated through digital advertising, programmatic ads, and native advertising.

While specific percentage breakdowns fluctuate, advertising revenue across both TV and digital platforms is the dominant component of its overall income.

Industry

NDTV operates in the highly competitive and fragmented Indian news broadcasting and digital media industry. The sector is characterized by a large number of national and regional players across multiple languages, intense competition for viewership (TRP ratings), and advertising spend. NDTV has historically positioned itself as a prominent and often perceived as a more credible player, particularly in the English news segment. However, it faces strong competition from established national broadcasters like Republic TV, Times Now, India Today, Zee News, and numerous regional channels, all vying for audience share and advertising revenue. The industry is also seeing a significant shift towards digital consumption, with increasing competition from purely digital news outlets and social media platforms.

MOAT

NDTV's primary competitive advantage lies in its brand recognition and historical reputation for journalistic standards and credibility, especially within the English news space in India. This legacy has fostered a degree of viewer loyalty. However, in the dynamic and competitive news industry with low switching costs for viewers, this advantage has eroded over time due to intense competition and shifting political landscapes. It does not possess significant scale economies relative to some larger media conglomerates, strong network effects, or high switching costs for consumers.

Growth Drivers

Digital Expansion & Monetization: Continued growth in online news consumption can drive advertising revenue from its digital platforms, including video content and specialized digital-first offerings.

Increase in Advertising Spend: A general recovery in the Indian economy and increased corporate advertising budgets, particularly during major events (elections, festivals), can boost ad revenues.

Content Diversification: Expansion into new content formats (e.g., podcasts, web series, niche digital channels) or leveraging its brand for educational or lifestyle content could open new revenue streams.

Strategic Initiatives by New Ownership: Post-acquisition by the Adani Group, strategic investments and new editorial or business directions could potentially drive growth, though the specifics are yet to fully unfold.

Risks

Intense Competition: The crowded news market makes it challenging to maintain viewership and advertising share against numerous established and emerging players.

Declining Linear TV Viewership: A gradual shift of audience from traditional linear TV to digital platforms poses a risk to its core TV advertising revenue.

Digital Monetization Challenges: While digital is a growth area, effective monetization amidst ad blockers, privacy concerns, and competition from global tech giants remains a challenge.

Regulatory & Political Risks: Media companies are subject to strict regulatory oversight in India. Changes in government policies, broadcasting regulations, or increased scrutiny of content can impact operations.

Economic Downturns: Advertising expenditure is highly cyclical and sensitive to economic conditions, posing a risk during economic slowdowns.

Maintaining Credibility: Erosion of trust or perceived bias can significantly impact viewership and brand value in the news industry.

Ownership Transition Integration: The recent change in majority ownership by the Adani Group introduces potential risks related to strategic direction shifts, editorial independence, and integration challenges.

Management & Ownership

Historically, NDTV was promoted and managed by its founders, Radhika Roy and Prannoy Roy. However, in late 2022, AMG Media Networks Ltd. (AMNL), a subsidiary of Adani Enterprises Ltd. (part of the Adani Group), acquired a controlling stake in NDTV. This significantly altered the ownership structure, making the Adani Group the majority owner. The change in ownership is expected to lead to substantial changes in management and editorial leadership, transitioning from the founding family to a new corporate structure.

Outlook

NDTV faces a challenging yet potentially transformative period. On one hand, it possesses a recognized brand in Indian news and a legacy of journalism, coupled with opportunities in the growing digital media landscape. A strategic push under its new ownership towards digital expansion, content diversification, and leveraging the new parent group's resources could provide a fresh impetus for growth and stability. On the other hand, the company operates in an intensely competitive and evolving industry characterized by fragmented viewership, declining linear TV ad revenues, and the ongoing need to effectively monetize digital traffic. The long-term success will heavily depend on how the new ownership navigates these industry dynamics, manages editorial independence, and implements a clear, sustainable business strategy that can differentiate NDTV in a crowded market.

New Delhi Television Share Price

Live · BSE / NSE · Inception: 1988
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

New Delhi Television Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 107 94 111 133 127 108 122 150 148 117
Other Income 12 4 1 1 1 5 3 2 3 3
Total Income 118 98 112 134 128 113 125 152 151 120
Total Expenditure 122 139 155 174 176 165 179 212 233 185
Operating Profit -4 -42 -43 -40 -47 -53 -54 -60 -82 -65
Interest 3 3 4 6 8 9 10 6 6 7
Depreciation 3 2 6 8 8 8 9 9 9 10
Exceptional Income / Expenses 0 0 0 0 0 0 0 -5 0 0
Profit Before Tax -9 -47 -53 -54 -63 -70 -73 -80 -97 -82
Provision for Tax 0 0 1 2 -2 0 1 0 1 0
Profit After Tax -9 -47 -54 -55 -62 -70 -74 -80 -98 -82
Adjustments 0 0 1 -1 1 -0 0 -0 -0 -0
Profit After Adjustments -8 -47 -53 -56 -61 -70 -74 -80 -98 -82
Adjusted Earnings Per Share -1 -5.8 -6.5 -6.9 -7.5 -8.7 -11.5 -7.1 -8.7 -7.2

New Delhi Television Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 566 490 426 399 373 358 396 386 370 465 528 537
Other Income 11 11 14 26 20 72 43 16 32 7 12 11
Total Income 577 501 440 425 393 430 439 402 402 472 540 548
Total Expenditure 600 532 465 352 321 307 316 331 408 644 789 809
Operating Profit -22 -31 -26 72 73 123 123 71 -6 -172 -248 -261
Interest 21 22 21 28 25 23 10 3 5 20 31 29
Depreciation 25 18 15 12 11 10 19 17 9 24 36 37
Exceptional Income / Expenses 0 -7 -14 -4 0 0 0 12 0 0 -5 -5
Profit Before Tax -68 -78 -74 21 36 90 96 63 -20 -217 -321 -332
Provision for Tax 8 8 11 9 8 15 11 10 1 1 2 2
Profit After Tax -76 -86 -84 11 28 75 85 53 -21 -218 -323 -334
Adjustments 21 6 4 -1 -4 -4 -5 -4 1 2 1 0
Profit After Adjustments -55 -80 -80 10 24 71 80 49 -20 -216 -323 -334
Adjusted Earnings Per Share -6.8 -9.9 -9.9 1.3 3 8.7 9.8 6 -2.5 -26.6 -28.6 -34.5

New Delhi Television Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 82 103 49 66 88 152 233 280 258 59 128
Minority's Interest 134 8 6 9 13 19 24 29 28 2 1
Borrowings 19 47 65 50 18 10 3 1 31 243 171
Other Non-Current Liabilities 76 67 11 18 20 18 15 13 90 87 88
Total Current Liabilities 364 303 370 347 352 254 203 141 190 250 316
Total Liabilities 675 529 501 491 491 452 478 464 597 641 704
Fixed Assets 87 60 46 40 46 42 46 31 116 198 188
Other Non-Current Assets 143 131 88 103 71 180 173 211 249 182 189
Total Current Assets 445 337 367 348 374 230 259 221 233 243 313
Total Assets 675 529 501 491 491 452 478 464 597 641 704

New Delhi Television Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 41 16 12 57 10 29 8 3 11 14 10
Cash Flow from Operating Activities -3 -7 41 27 16 43 155 -13 -68 -144 -258
Cash Flow from Investing Activities -17 9 5 -15 74 12 -78 40 50 -73 -21
Cash Flow from Financing Activities -6 -6 2 -58 -72 -72 -81 -19 21 213 284
Net Cash Inflow / Outflow -25 -4 49 -47 18 -18 -5 7 4 -5 5
Closing Cash & Cash Equivalent 16 12 60 10 29 8 3 11 14 10 15

New Delhi Television Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) -6.75 -9.9 -9.85 1.26 2.98 8.73 9.83 6 -2.49 -26.61 -28.59
CEPS(Rs) -6.25 -8.34 -8.49 2.87 4.77 10.42 12.77 8.63 -1.46 -23.83 -25.48
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 9.63 7.98 -2.36 2.05 4.82 17.72 27.72 34.39 31.76 7.23 11.37
Core EBITDA Margin(%) -5.97 -8.64 -9.33 11.61 14 14.28 20.17 14.18 -10.19 -38.44 -49.31
EBIT Margin(%) -8.37 -11.53 -12.44 12.15 16.18 31.75 26.82 17.13 -4.18 -42.29 -54.88
Pre Tax Margin(%) -12.04 -15.98 -17.29 5.16 9.52 25.24 24.25 16.39 -5.42 -46.68 -60.71
PAT Margin (%) -13.37 -17.59 -19.82 2.85 7.48 20.93 21.38 13.72 -5.77 -46.88 -61.17
Cash Profit Margin (%) -8.97 -13.82 -16.19 5.84 10.38 23.65 26.16 18.16 -3.21 -41.62 -54.43
ROA(%) -10.94 -14.31 -16.37 2.29 5.69 15.87 18.23 11.24 -4.03 -35.22 -48.05
ROE(%) -100.84 -120.57 -369.66 0 100.12 81.81 45.95 20.99 -7.96 -137.72 -345.64
ROCE(%) -18.87 -22.04 -20.63 20.95 28.68 54.54 46.27 25.19 -5.41 -64.62 -91.45
Receivable days 107.09 111.92 126.06 126.5 138.49 129.36 82.81 69.73 100.2 105.78 103.79
Inventory Days 8.07 5.31 1.33 1.29 0.62 0 0 0 0 0 0
Payable days 2377.36 0 0 0 0 0 0 0 0 0 0
PER(x) 0 0 0 23.03 6.76 5.15 18.25 25.43 0 0 0
Price/Book(x) 8.76 6.81 -14.02 14.14 4.19 2.54 6.48 4.44 5.26 12.26 5.22
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.3 1.15 0.86 0.85 0.62 1.13 3.41 2.97 3.67 2.09 1.59
EV/Core EBITDA(x) -32.73 -18.26 -14.39 4.7 3.18 3.29 10.99 16.15 -219.41 -5.66 -3.38
Net Sales Growth(%) -0.96 -13.39 -13.13 -6.32 -6.41 -4.16 10.84 -2.66 -4.11 25.68 13.6
EBIT Growth(%) 0 -19.35 6.3 191.48 24.65 83.83 -6.36 -37.83 -123.39 -1172.06 -47.42
PAT Growth(%) -64.33 -13.93 2.11 113.47 145.71 155.35 13.23 -37.55 -140.37 -920.37 -48.22
EPS Growth(%) -24.5 -46.66 0.48 112.79 136.81 192.59 12.62 -38.96 -141.51 -968.27 -7.44
Debt/Equity(x) 2.02 2.62 -9.99 9.39 2.83 0.46 0.04 0.01 0.12 4.45 1.45
Current Ratio(x) 1.22 1.11 0.99 1 1.06 0.91 1.27 1.56 1.22 0.97 0.99
Quick Ratio(x) 1.19 1.11 0.99 1 1.06 0.91 1.27 1.56 1.22 0.97 0.99
Interest Cover(x) -2.28 -2.59 -2.57 1.74 2.43 4.88 10.43 23.13 -3.37 -9.64 -9.41
Total Debt/Mcap(x) 0.23 0.39 0.71 0.66 0.68 0.18 0.01 0 0.02 0.36 0.28

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +14% +11% +8% -1%
Operating Profit CAGR — 0% 0% —
PAT CAGR — 0% 0% —
Share Price CAGR -34% -26% -1% -1%
ROE Average -346% -164% -85% -76%
ROCE Average -91% -54% -18% -4%

New Delhi Television Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 69.02 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 30.97 %
Others 0.01 %
# Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 64.7164.7164.7164.7164.7164.7169.0269.0269.0269.02
FII 0.090.10.10.140.120.110.050.0400
DII 0000000000
Public 35.235.1835.1935.1535.1635.1730.9330.9330.9730.97
Others 0000000000
Total 100100100100100100100100100100

New Delhi Television Peer Comparison

TV Broadcasting & Software Production Edit Columns

New Delhi Television Quarterly Price

10-year quarterly close · BSE
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News & Updates

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New Delhi Television Pros & Cons

Pros

  • Company has reduced debt.

Cons

  • Company has a low return on equity of -164% over the last 3 years.
  • Stock is trading at 15.3 times its book value.
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