Den Networks

NSE: DEN · TV Broadcasting & Software Production

52W Range₹23 ₹39

Snapshot

Unlock Den Networks's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

DEN Networks Limited is a prominent Indian cable television distribution company that provides digital cable services and broadband connectivity. The company serves approximately 13 million households across 13 states, facilitating the distribution and promotion of television channels.

Business Model

The company generates revenue primarily through subscription fees for digital cable television services and broadband internet connectivity. It operates a distribution network that connects content providers to end-user households.

  • Households served:13 million

Growth Outlook

Growth is driven by the expansion of broadband services and the digitisation of cable networks across its operational footprint in India. The company continues to focus on increasing its subscriber base within its existing 13-state network.

Key Risks

  • Technological Disruption. The rapid adoption of Over-The-Top (OTT) streaming platforms poses a significant threat to traditional cable television subscription models.
  • Regulatory Environment. Changes in government regulations regarding tariff structures and broadcasting policies can directly impact the company's profitability.
  • Intense Competition. The company faces stiff competition from direct-to-home (DTH) operators and aggressive pricing from telecommunications providers in the broadband segment.
  • Operational Dependency. Reliance on content providers and infrastructure maintenance makes the company vulnerable to supply chain and technical service disruptions.

Price

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Key Metrics

REVENUE

₹974 Cr

TTM · consolidated

-3.1%YoY

NET PROFIT

₹166 Cr

TTM · consolidated

-15.8%YoY

EPS

₹3.49

TTM · consolidated

-16.7%YoY

RETURN ON EQUITY

4.5%

TTM · consolidated

-1.2 ppYoY

RETURN ON CAPITAL EMPLOYED

5.6%

TTM · consolidated

-1.4 ppYoY

P/E

8.1x

Q4 FY26 · consolidated

8.1 vs 7.4x5Y avg

EV/EBITDA

4.4x

Q4 FY26 · consolidated

4.4 vs 4.5x5Y avg

EBITDA MARGIN

30.9%

TTM · consolidated

-4.5 ppYoY

NET PROFIT MARGIN

15.1%

Q4 FY26 · consolidated

-9.0 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · TV Broadcasting & Software Production

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Den NetworksDEN
1,2118.084.41-3.1%30.9%4.5%5.6%-31.1%
Hathway CableHATHWAY
1,67224.094.625.4%19.3%1.9%2.4%-33.8%
Aqylon NexusAQYLON
1,4915.38125.50119.3%55.0%131.8%-155.5%
NDTVNDTV
758-1.84-3.1413.6%-47.0%-424.6%-73.9%-47.9%
GTPL HathwayGTPL
64245.312.107.0%11.6%1.1%3.6%-47.3%
T.V. Today Netw.TVTODAY
59157.9810.57-19.3%8.6%1.6%2.4%-27.1%

As of Q4 FY26

Financials