Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹43 Cr.
Stock P/E
53.9
P/B
0.5
Current Price
₹8.2
Book Value
₹ 15.2
Face Value
5
52W High
₹46.9
52W Low
₹ 7.5
Dividend Yield
0%

Raj TV Network Overview

Business

Raj Television Network Ltd. is an Indian media company primarily engaged in satellite television broadcasting and software production. The company operates a network of channels across various South Indian languages (Tamil, Telugu, Kannada, Malayalam), covering genres like general entertainment, news, music, and movies. Its core business model revolves around creating and acquiring content (serials, films, news, music programs) and broadcasting it across its proprietary channels. The company primarily generates revenue through advertising sales, which form the bulk of its income, and through subscription fees collected from cable and DTH (Direct-to-Home) operators for distributing its channels.

Revenue Mix

The company's primary business segment is Television Broadcasting. This includes the operation and management of its various satellite TV channels. While specific financial breakdowns are not publicly detailed for Raj TV, the revenue mix is predominantly:

Advertising Revenue: Earned from selling commercial airtime on its channels to advertisers. This is the largest component.

Subscription Revenue: Derived from fees paid by cable and DTH operators for carriage of its channels.

Content Syndication: Minor revenue from licensing its produced or acquired content to other platforms or international markets.

Industry

The Indian television broadcasting industry is highly competitive, characterized by the presence of large national players (e.g., Zee Entertainment, Sony Pictures Networks India, Star India/Disney) and strong regional players. Raj Television Network operates primarily as a regional broadcaster, with a significant focus on the South Indian linguistic markets. While it has an established presence and brand recognition in these regions, it is not a market leader compared to larger regional competitors like Sun TV Network or other national broadcasters with a strong regional footprint. The industry is also witnessing significant disruption from Over-The-Top (OTT) streaming platforms.

MOAT

Raj Television Network's competitive advantages are moderate and primarily stem from:

Established Brand and Reach: Decades of operation have built brand recognition and viewer loyalty in specific South Indian regional markets.

Content Library: An accumulated library of films, serials, and other content, which can be re-telecast and monetized.

Distribution Network: Established relationships with cable operators and DTH platforms ensure its channels reach a wide audience.

Local Market Understanding: Deep understanding of regional cultural nuances and content preferences, which can be challenging for national players to replicate entirely.

Growth Drivers

Growth in Regional Advertising Spending: Continued economic growth in South Indian states can drive increased advertising expenditure targeting regional audiences.

Digital Expansion: Successful foray into digital platforms (OTT apps, YouTube) to capture younger audiences and complement linear TV viewership.

Content Innovation: Creation of compelling and high-quality regional content that resonates with evolving viewer preferences.

Subscription Growth: Increasing penetration of DTH and digital cable, leading to better monetization of subscription revenues.

Syndication Opportunities: Monetization of content library through syndication to other platforms or international markets.

Risks

Intense Competition: Significant competition from other established regional broadcasters and national players with strong regional channels.

Digital Disruption: Rapid growth of OTT streaming platforms leading to fragmentation of viewership and potential decline in linear TV engagement.

Advertising Market Volatility: Economic slowdowns directly impact corporate advertising budgets, reducing revenue.

Regulatory Changes: Evolving broadcasting regulations, content censorship policies, and pricing regulations by TRAI (Telecom Regulatory Authority of India) can impact operations and profitability.

Content Costs: Rising costs of acquiring and producing quality content to remain competitive.

Technological Obsolescence: Failure to adapt to new broadcasting technologies and content delivery mechanisms.

Management & Ownership

Raj Television Network Ltd. is promoted by Mr. M. Raajhendhran and his family, who hold a significant ownership stake and are actively involved in the company's management. This is a common structure among many Indian media companies, where promoter families often maintain strong control. The management quality is generally assessed by their ability to navigate the evolving media landscape and sustain operations in a highly competitive environment.

Outlook

Raj Television Network faces a complex and evolving media landscape. The company benefits from its long-standing presence and brand recall in key South Indian markets, giving it a stable base of viewership and advertising clients. However, the traditional broadcasting model is under significant pressure from the rapid rise of digital and OTT platforms, which are fragmenting viewership and attracting advertising dollars. Its ability to innovate with content, strategically expand into digital distribution, and maintain a strong connection with its regional audience will be crucial. While traditional linear TV in India, especially regional, still commands a significant audience, the long-term outlook depends heavily on the company's adaptability to technological shifts and evolving consumer habits.

Raj TV Network Share Price

Live · BSE / NSE · Inception: 1994
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Raj TV Network 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 16 25 36 43 22 17 16 16 21 15
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 16 25 36 43 22 17 16 16 22 15
Total Expenditure 14 44 34 41 26 15 15 16 21 15
Operating Profit 2 -18 2 2 -4 1 1 1 1 -0
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1 -20 0 0 -6 1 0 0 0 -1
Provision for Tax 0 -3 0 0 -1 0 0 0 0 -0
Profit After Tax 1 -17 0 0 -4 0 0 0 0 -1
Adjustments 0 0 -0 -0 0 0 0 0 0 -0
Profit After Adjustments 1 -17 0 0 -4 0 0 0 0 -1
Adjusted Earnings Per Share 0.2 -3.3 0 0.1 -0.9 0.1 0 0 0 -0.2

Raj TV Network 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 82 61 62 62 59 78 69 85 106 126 70 68
Other Income 0 1 2 1 0 0 0 1 0 0 1 0
Total Income 83 62 63 64 59 79 70 85 107 126 71 69
Total Expenditure 77 53 51 49 48 65 57 79 102 145 66 67
Operating Profit 6 9 12 15 12 13 12 7 5 -19 5 3
Interest 5 5 5 5 4 6 4 3 3 4 3 4
Depreciation 7 7 7 6 7 7 7 2 2 2 1 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -5 -3 0 4 0 0 1 2 1 -25 1 -1
Provision for Tax 1 2 1 -2 0 0 0 1 0 -4 0 0
Profit After Tax -6 -5 -1 5 0 0 1 1 1 -21 1 -1
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -6 -5 -1 5 0 0 1 1 1 -21 1 -1
Adjusted Earnings Per Share -1.2 -0.9 -0.3 1 0 0 0.2 0.2 0.2 -4 0.2 -0.2

Raj TV Network 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 148 138 137 142 141 142 143 144 145 124 124
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 3 29 24 17 13 10 11 7 6 13 8
Other Non-Current Liabilities 10 1 2 0 0 5 7 6 9 10 12
Total Current Liabilities 43 18 26 29 42 39 29 45 25 45 29
Total Liabilities 203 185 189 189 197 196 191 203 185 191 173
Fixed Assets 99 114 109 110 110 104 98 120 118 117 116
Other Non-Current Assets 22 23 22 22 21 22 27 26 24 24 23
Total Current Assets 83 49 57 57 65 70 66 57 42 51 34
Total Assets 203 185 189 189 197 196 191 203 185 191 173

Raj TV Network 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 3 5 2 2 2 2 3 2 2 3 0
Cash Flow from Operating Activities 4 -12 12 19 17 8 3 31 4 -5 8
Cash Flow from Investing Activities -2 -11 -2 -7 -7 -0 -1 -24 0 0 0
Cash Flow from Financing Activities 0 19 -10 -12 -10 -7 -3 -7 -4 3 -8
Net Cash Inflow / Outflow 2 -3 0 0 0 0 -0 -0 0 -2 -0
Closing Cash & Cash Equivalent 5 2 2 2 2 3 2 2 3 0 0

Raj TV Network 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) -1.17 -0.92 -0.26 1.04 0 0.03 0.21 0.22 0.16 -4.05 0.15
CEPS(Rs) 0.1 0.35 1.03 2.25 1.32 1.35 1.53 0.53 0.45 -3.76 0.31
DPS(Rs) 0.25 0 0 0.1 0 0 0 0 0 0 0
Book NAV/Share(Rs) 19.93 18.06 17.8 18.84 18.72 18.75 18.96 19.17 19.33 15.28 15.43
Core EBITDA Margin(%) 6.36 12.6 16.79 21.77 19.24 16.41 17.47 7.13 4.56 -15.12 6.03
EBIT Margin(%) -1.02 3.16 8.89 13.84 8.15 7.96 8.09 5.98 3.5 -16.12 5.74
Pre Tax Margin(%) -6.5 -4.98 0.07 5.79 0.58 0.46 1.93 1.95 1.13 -19.68 1.66
PAT Margin (%) -7.34 -7.82 -2.23 8.67 0.02 0.17 1.57 1.33 0.76 -16.7 1.13
Cash Profit Margin (%) 0.6 3 8.64 18.76 11.6 8.92 11.49 3.26 2.17 -15.51 2.27
ROA(%) -3 -2.46 -0.73 2.86 0.01 0.07 0.56 0.57 0.42 -11.18 0.43
ROE(%) -5.64 -4.85 -1.47 5.67 0.01 0.14 1.11 1.14 0.81 -23.39 0.99
ROCE(%) -0.6 1.42 4.06 6.4 3.62 4.72 4.3 4.01 3.01 -17.56 3.82
Receivable days 284.04 326.07 272.56 298.09 329.46 266.62 312.3 241.41 136.4 103.39 197.24
Inventory Days 48.85 41.83 24.33 16.41 3.86 3.24 14.81 0 33.87 0 0
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 0 0 0 34.79 0 1228.35 189.29 181.41 377.84 0 219.03
Price/Book(x) 2.86 3.26 3.01 1.92 1.76 1.66 2.09 2.05 3.03 5.57 2.16
Dividend Yield(%) 0.44 0 0 0.28 0 0 0 0 0 0 0
EV/Net Sales(x) 3.95 5.63 5.18 3.56 3.44 2.48 3.37 2.67 3.05 3.74 2.79
EV/Core EBITDA(x) 57.08 40.25 26.21 14.88 17.44 14.82 18.72 33.77 62.1 -25.02 40.55
Net Sales Growth(%) -0.07 -25.76 0.6 1.02 -4.9 32.39 -11.56 22.42 25.56 18.19 -44.33
EBIT Growth(%) -104.32 330.28 182.66 57.29 -43.95 29.31 -10.16 -9.49 -26.6 -644.88 119.82
PAT Growth(%) -174.15 20.92 71.31 493.09 -99.78 1008.91 723.82 3.61 -28.41 -2707.84 103.77
EPS Growth(%) -174.15 20.92 71.31 493.04 -99.78 1004.35 723.62 3.63 -28.41 -2708.05 103.77
Debt/Equity(x) 0.33 0.43 0.46 0.37 0.36 0.36 0.31 0.25 0.23 0.36 0.28
Current Ratio(x) 1.93 2.73 2.24 1.98 1.54 1.78 2.26 1.26 1.68 1.12 1.17
Quick Ratio(x) 1.68 2.55 2.04 1.96 1.52 1.77 2.09 1.26 1.28 1.12 1.17
Interest Cover(x) -0.19 0.39 1.01 1.72 1.08 1.06 1.31 1.48 1.48 -4.54 1.41
Total Debt/Mcap(x) 0.12 0.13 0.15 0.19 0.21 0.21 0.15 0.12 0.08 0.06 0.13

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -44% -6% -2% -2%
Operating Profit CAGR — -11% -17% -2%
PAT CAGR — 0% — —
Share Price CAGR -80% -46% -26% -19%
ROE Average +1% -7% -4% -2%
ROCE Average +4% -4% 0% +2%

Raj TV Network Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 70.96 %
FII 0.02 %
DII (MF + Insurance) 0 %
Public (retail) 29.02 %
# Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 71.0170.9570.970.8870.8870.8870.8870.9170.9670.96
FII 00.050.05000.020.020.020.020.02
DII 0000000000
Public 28.992929.0529.1229.1229.129.129.0729.0229.02
Others 0000000000
Total 100100100100100100100100100100

Raj TV Network Peer Comparison

TV Broadcasting & Software Production Edit Columns

Raj TV Network Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Raj TV Network Pros & Cons

Pros

  • Stock is trading at 0.5 times its book value
  • Company has reduced debt.
  • Company is almost debt free.

Cons

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