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Last Updated: April 2, 2026, 2:49 am
Author: Getaka|Social: XLinkedIn

Den Networks Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹17.11Overvalued by 31.01%vs CMP ₹24.80

P/E (6.3) × ROE (4.3%) × BV (₹77.70) × DY (2.00%)

₹43.78Undervalued by 76.53%vs CMP ₹24.80
MoS: +43.4% (Strong)Confidence: 58/100 (Moderate)Models: 7 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹17.3722%Over (-30%)
Graham NumberEarnings₹83.4116%Under (+236.3%)
Earnings PowerEarnings₹36.8613%Under (+48.6%)
DCFCash Flow₹45.8413%Under (+84.8%)
Net Asset ValueAssets₹77.567%Under (+212.7%)
EV/EBITDAEnterprise₹36.189%Under (+45.9%)
Earnings YieldEarnings₹39.807%Under (+60.5%)
ROCE CapitalReturns₹43.047%Under (+73.5%)
Revenue MultipleRevenue₹21.025%Over (-15.2%)
Consensus (9 models)₹43.78100%Undervalued
Key Drivers: ROE 4.3% is below cost of equity. | Wide model spread (₹17–₹83) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 1.5%

*Investments are subject to market risks

Investment Snapshot

46
Den Networks Ltd scores 46/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 5.3% WeakROE 4.3% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 74.9% Stable
Earnings Quality50/100 · Moderate
OPM stable around 13% Steady
Quarterly Momentum30/100 · Weak
Revenue (4Q): -3% YoY FlatProfit (4Q): -12% YoY DecliningOPM: 5.0% (down 5.0% YoY) Margin pressure
Industry Rank35/100 · Weak
P/E 6.3 vs industry 208.8 Cheaper than peersROCE 5.3% vs industry 15.7% Below peersROE 4.3% vs industry 12.7% Below peers3Y sales CAGR: -6% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:49 am

Market Cap 1,186 Cr.
Current Price 24.8
Intrinsic Value₹43.78
High / Low 42.8/22.5
Stock P/E6.26
Book Value 77.7
Dividend Yield0.00 %
ROCE5.28 %
ROE4.31 %
Face Value 10.0
PEG Ratio4.11

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Den Networks Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Den Networks Ltd 1,186 Cr. 24.8 42.8/22.56.26 77.70.00 %5.28 %4.31 % 10.0
Balaji Telefilms Ltd 971 Cr. 79.7 141/64.016.5 54.20.00 %1.35 %15.8 % 2.00
New Delhi Television Ltd (NDTV) 772 Cr. 68.4 141/58.8 7.850.00 %47.8 %133 % 4.00
GTPL Hathway Ltd 664 Cr. 59.1 134/55.016.0 1023.39 %5.90 %4.13 % 10.0
Hathway Cable & Datacom Ltd 1,713 Cr. 9.68 18.0/8.7616.2 25.00.00 %3.03 %2.22 % 2.00
Industry Average2,695.38 Cr98.69208.7637.150.28%15.66%12.68%6.15

All Competitor Stocks of Den Networks Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 277283273277273258248249261248241241251
Expenses 239249244235233218221221233220222223238
Operating Profit 37342942404027282728191813
OPM % 14%12%11%15%15%16%11%11%10%11%8%7%5%
Other Income 43275052515755695567715258
Interest 1111111110100
Depreciation 30292829282826272626242323
Profit before tax 50315064626955695569654648
Tax % 1%-304%15%29%23%-12%22%25%24%13%17%24%16%
Net Profit 491264246487743524260543540
EPS in Rs 1.032.800.890.960.991.660.951.090.841.301.140.740.80

Last Updated: February 6, 2026, 4:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 9:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,0981,1309481,1571,2851,2061,2911,3071,2261,1301,0811,005982
Expenses 8141,0371,1239811,0071,0291,0791,0581,024979927893903
Operating Profit 28493-17617627817721225020215215411379
OPM % 26%8%-19%15%22%15%16%19%16%13%14%11%8%
Other Income 6588511030-165176190120112206244248
Interest 89827965665932301322
Depreciation 14718620627624924224725114811911310697
Profit before tax 113-88-409-155-7-288110186174143245249228
Tax % 34%38%5%21%139%4%47%-2%2%-65%13%21%
Net Profit 75-122-431-188-17-30159189171236213197189
EPS in Rs 2.15-8.08-24.21-10.74-1.76-5.811.474.153.695.094.504.193.98
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-262.67%-253.28%56.38%90.96%-1670.59%119.60%220.34%-9.52%38.01%-9.75%-7.51%
Change in YoY Net Profit Growth (%)0.00%9.39%309.66%34.58%-1761.55%1790.19%100.74%-229.86%47.54%-47.76%2.23%

Den Networks Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-1%
5 Years:-5%
3 Years:-6%
TTM:-5%
Compounded Profit Growth
10 Years:11%
5 Years:23%
3 Years:30%
TTM:-4%
Stock Price CAGR
10 Years:-11%
5 Years:-14%
3 Years:-1%
1 Year:-30%
Return on Equity
10 Years:-1%
5 Years:3%
3 Years:4%
Last Year:4%

Last Updated: September 5, 2025, 2:50 am

Balance Sheet

Last Updated: December 4, 2025, 1:10 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 178178178194195477477477477477477477477
Reserves 1,6781,5327926205912,0692,1262,2982,4762,7312,9433,1433,232
Borrowings 1,0279988545055304822130028262322
Other Liabilities 6736491,1071,0881,041927872678554524481500570
Total Liabilities 3,5573,3572,9312,4072,3573,9553,6883,4523,5073,7593,9274,1424,301
Fixed Assets 1,3551,4251,4741,2991,186935763609557562515463434
CWIP 9411012945501921372129181412
Investments 3791451091011272,139702,1401,9131,4261,7091,5161,652
Other Assets 1,7281,6761,2199629948622,8346661,0161,7411,6852,1492,204
Total Assets 3,5573,3572,9312,4072,3573,9553,6883,4523,5073,7593,9274,1424,301

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 618202185422682181291398418-17
Cash from Investing Activity + -481862-80-2,047429-361-258-54-66-2224
Cash from Financing Activity + -109-161-277-411,933-68813496-115-7-7-3
Net Cash Flow -9633-7464-729-9-33-3011-114
Free Cash Flow -243-3713930-54195109274130-22-57
CFO/OP 145%-35%132%66%43%126%62%59%69%59%44%102%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow283.00-905.00-1,030.00-329.00-252.00-305.00-1.00250.00202.00124.00128.0090.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 130129101748668382621283755
Inventory Days
Days Payable
Cash Conversion Cycle 130129101748668382621283755
Working Capital Days -172-194-277-167-99-125-155-86-78-82-69-66
ROCE %8%-1%-12%-4%4%-1%4%2%2%3%2%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.90%74.90%
FIIs 1.08%1.24%1.30%0.98%1.11%0.96%0.76%0.74%0.82%0.63%0.49%0.51%
DIIs 0.19%0.20%0.21%0.17%0.18%0.18%0.19%0.20%0.14%0.14%0.14%0.14%
Public 23.74%23.57%23.50%23.86%23.72%23.87%24.05%24.07%24.05%24.23%24.40%24.36%
Others 0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%
No. of Shareholders 91,15389,34599,9021,08,5481,23,3341,39,8561,59,0391,63,1641,67,0861,63,3481,58,3771,53,581

Shareholding Pattern Chart

No. of Shareholders

Den Networks Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund 118,316 0.12 0.55118,3162025-04-22 17:25:370%
Groww Nifty Total Market Index Fund 270 0 02702025-04-22 17:25:370%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 4.204.505.093.694.15
Diluted EPS (Rs.) 4.204.505.093.694.15
Cash EPS (Rs.) 6.346.867.466.749.38
Book Value[Excl.RevalReserv]/Share (Rs.) 75.9272.6468.3063.2059.55
Book Value[Incl.RevalReserv]/Share (Rs.) 75.9272.6468.3063.2059.55
Revenue From Operations / Share (Rs.) 21.0922.6723.7125.7127.42
PBDIT / Share (Rs.) 7.477.595.546.819.38
PBIT / Share (Rs.) 5.255.223.043.704.12
PBT / Share (Rs.) 5.215.173.013.694.05
Net Profit / Share (Rs.) 4.124.504.963.634.12
NP After MI And SOA / Share (Rs.) 4.204.505.093.694.15
PBDIT Margin (%) 35.4233.4623.3726.4734.19
PBIT Margin (%) 24.9023.0212.8214.3815.02
PBT Margin (%) 24.7022.7812.6914.3514.77
Net Profit Margin (%) 19.5419.8420.9314.1215.03
NP After MI And SOA Margin (%) 19.8919.8621.4814.3515.14
Return on Networth / Equity (%) 5.526.277.575.957.13
Return on Capital Employeed (%) 6.777.074.355.706.62
Return On Assets (%) 4.825.466.465.015.73
Asset Turnover Ratio (%) 0.240.280.290.320.33
Current Ratio (X) 7.677.646.646.485.28
Quick Ratio (X) 7.677.646.646.485.28
Interest Coverage Ratio (X) 170.43140.51188.221167.24133.54
Interest Coverage Ratio (Post Tax) (X) 95.0284.32169.54623.9059.70
Enterprise Value (Cr.) -167.151002.42-10.921118.722097.16
EV / Net Operating Revenue (X) -0.160.92-0.010.911.60
EV / EBITDA (X) -0.462.77-0.043.454.69
MarketCap / Net Operating Revenue (X) 1.482.081.131.441.80
Price / BV (X) 0.410.650.390.590.84
Price / Net Operating Revenue (X) 1.482.081.131.441.80
EarningsYield 0.130.090.190.100.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Den Networks Ltd. is a Public Limited Listed company incorporated on 10/07/2007 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L92490MH2007PLC344765 and registration number is 165673. Currently Company is involved in the business activities of Television programming and broadcasting activities. Company's Total Operating Revenue is Rs. 989.15 Cr. and Equity Capital is Rs. 476.77 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Entertainment & MediaUnit No. 116, 1st Floor, C Wing, Bldg. No. 2, Kailas Industrial Complex, Mumbai Maharashtra 400079Contact not found
Management
NamePosition Held
Mr. Sameer ManchandaChairman & Non-Exe.Director
Mr. Anuj JainNon Executive Director
Ms. Geeta Kalyandas FulwadayaNon Executive Director
Mr. Saurabh SanchetiNon Executive Director
Mr. Rahul Yogendra DuttIndependent Director
Ms. Naina Krishna MurthyIndependent Director
Mr. Rajendra Dwarkadas HingwalaIndependent Director
Mr. Achuthan SiddharthIndependent Director

FAQ

What is the intrinsic value of Den Networks Ltd and is it undervalued?

As of 14 April 2026, Den Networks Ltd's intrinsic value is ₹43.78, which is 76.53% higher than the current market price of ₹24.80, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (4.31 %), book value (₹77.7), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Den Networks Ltd?

Den Networks Ltd is trading at ₹24.80 as of 14 April 2026, with a FY2026-2027 high of ₹42.8 and low of ₹22.5. The stock is currently near its 52-week low. Market cap stands at ₹1,186 Cr..

How does Den Networks Ltd's P/E ratio compare to its industry?

Den Networks Ltd has a P/E ratio of 6.26, which is below the industry average of 208.76. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Den Networks Ltd financially healthy?

Key indicators for Den Networks Ltd: ROCE of 5.28 % is on the lower side compared to the industry average of 15.66%; ROE of 4.31 % is below ideal levels (industry average: 12.68%). Dividend yield is 0.00 %.

Is Den Networks Ltd profitable and how is the profit trend?

Den Networks Ltd reported a net profit of ₹197 Cr in Mar 2025 on revenue of ₹1,005 Cr. Compared to ₹171 Cr in Mar 2022, the net profit shows an improving trend.

Does Den Networks Ltd pay dividends?

Den Networks Ltd has a dividend yield of 0.00 % at the current price of ₹24.80. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Den Networks Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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