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Last Updated: April 2, 2026, 3:33 am
Author: Getaka|Social: XLinkedIn

Raj Television Network Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹45.93Undervalued by 32.36%vs CMP ₹34.70

P/E (15.0) × ROE (15.7%) × BV (₹23.90) × DY (2.00%)

Defaults: P/E=15

₹28.22Overvalued by 18.67%vs CMP ₹34.70
MoS: -23% (Negative)Confidence: 44/100 (Low)Models: 1 Under, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹40.1441%Under (+15.7%)
Net Asset ValueAssets₹23.9124%Over (-31.1%)
ROCE CapitalReturns₹9.3616%Over (-73%)
Revenue MultipleRevenue₹24.2618%Over (-30.1%)
Consensus (4 models)₹28.22100%Overvalued
Key Drivers: Wide model spread (₹9–₹40) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -12.6% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

59
Raj Television Network Ltd scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health77/100 · Strong
ROCE 12.7% GoodROE 15.7% GoodD/E 0.23 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.02% (6mo) Slight increasePromoter holding at 70.9% Stable
Earnings Quality50/100 · Moderate
OPM contracting (12% → -5%) DecliningWorking capital: 15 days (improving) Efficient
Quarterly Momentum35/100 · Weak
Revenue (4Q): -41% YoY Declining
Industry Rank70/100 · Strong
ROCE 12.7% vs industry 15.7% AverageROE 15.7% vs industry 12.7% Above peers3Y sales CAGR: 22% High growth

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, 3:33 am

Market Cap 180 Cr.
Current Price 34.7
Intrinsic Value₹28.22
High / Low 88.0/31.4
Stock P/E
Book Value 23.9
Dividend Yield0.00 %
ROCE12.7 %
ROE15.7 %
Face Value 5.00
PEG Ratio0.00

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

View Share Price Target for Raj Television Network Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Raj Television Network Ltd 180 Cr. 34.7 88.0/31.4 23.90.00 %12.7 %15.7 % 5.00
Cinerad Communications Ltd 185 Cr. 48.4 102/43.0 25.10.00 %23.1 %38.4 % 10.0
Music Broadcast Ltd 174 Cr. 5.03 12.4/4.35 14.20.00 %4.90 %6.74 % 2.00
Diksat Transworld Ltd 191 Cr. 109 146/100299 14.10.00 %2.82 %0.24 % 10.0
3rd Rock Multimedia Ltd 153 Cr. /%0.58 %14.3 % 10.0
Industry Average2,695.38 Cr98.69208.7637.150.28%15.66%12.68%6.15

All Competitor Stocks of Raj Television Network Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 16.6738.6827.2723.4539.5416.2025.4335.9342.7221.7316.5715.7616.39
Expenses 16.4235.9025.7322.3439.0914.4643.5334.4341.3826.1815.2214.6815.50
Operating Profit 0.252.781.541.110.451.74-18.101.501.34-4.451.351.080.89
OPM % 1.50%7.19%5.65%4.73%1.14%10.74%-71.18%4.17%3.14%-20.48%8.15%6.85%5.43%
Other Income 0.400.210.030.020.120.210.050.000.190.000.110.000.00
Interest 0.750.730.710.640.600.561.181.030.820.750.750.640.61
Depreciation 0.280.090.460.460.460.130.380.380.380.380.200.200.20
Profit before tax -0.382.170.400.03-0.491.26-19.610.090.33-5.580.510.240.08
Tax % -34.21%30.41%37.50%33.33%-6.12%21.43%-13.92%22.22%21.21%-19.71%33.33%33.33%25.00%
Net Profit -0.241.510.250.02-0.460.99-16.880.070.27-4.480.350.170.05
EPS in Rs -0.050.290.050.00-0.090.19-3.250.010.05-0.860.070.030.01

Last Updated: March 3, 2026, 3:12 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 79.4782.5082.4561.2161.5762.2059.1678.3169.2684.79106.46125.8270.45
Expenses 56.0158.1277.2153.6551.2448.6747.7765.4657.1678.74101.61144.8471.58
Operating Profit 23.4624.385.247.5610.3313.5311.3912.8512.106.054.85-19.02-1.13
OPM % 29.52%29.55%6.36%12.35%16.78%21.75%19.25%16.41%17.47%7.14%4.56%-15.12%-1.60%
Other Income 1.071.390.460.851.831.340.290.240.380.660.380.240.11
Interest 4.686.474.524.835.435.004.485.884.273.422.524.472.75
Depreciation 3.966.336.546.626.696.276.856.856.871.641.511.500.98
Profit before tax 15.8912.97-5.36-3.040.043.600.350.361.341.651.20-24.75-4.75
Tax % 18.75%37.01%12.87%57.24%3,525.00%-49.72%94.29%61.11%18.66%32.12%33.33%-15.11%
Net Profit 12.918.16-6.05-4.78-1.375.400.010.131.091.130.81-21.01-3.91
EPS in Rs 2.491.57-1.17-0.92-0.261.040.000.030.210.220.16-4.05-0.75
Dividend Payout % 20.11%31.81%-21.45%0.00%0.00%9.61%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-36.79%-174.14%20.99%71.34%494.16%-99.81%1200.00%738.46%3.67%-28.32%-2693.83%
Change in YoY Net Profit Growth (%)0.00%-137.35%195.13%50.35%422.82%-593.98%1299.81%-461.54%-734.79%-31.99%-2665.51%

Raj Television Network 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:4%
5 Years:16%
3 Years:22%
TTM:12%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:77%
Stock Price CAGR
10 Years:-2%
5 Years:3%
3 Years:-3%
1 Year:-16%
Return on Equity
10 Years:-2%
5 Years:-3%
3 Years:-5%
Last Year:-16%

Last Updated: September 5, 2025, 12:55 pm

Balance Sheet

Last Updated: December 4, 2025, 1:51 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 25.9625.9625.9625.9625.9625.9625.9625.9625.9625.9625.9625.9625.96
Reserves 131.37129.34121.73112.02110.65116.05115.43115.57116.65117.78118.5897.5798.09
Borrowings 44.1229.6034.2740.7242.5136.0335.3422.8524.2824.8722.9228.4724.51
Other Liabilities 15.0715.2921.468.219.9512.7322.1933.9422.9132.8115.9337.5724.51
Total Liabilities 216.52200.19203.42186.91189.07190.77198.92198.32189.80201.42183.39189.57173.07
Fixed Assets 113.99102.7298.58114.06109.23109.90110.27103.8597.62119.84118.46116.95116.56
CWIP 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments 1.120.000.000.000.000.000.000.000.000.000.000.000.00
Other Assets 101.4197.47104.8472.8579.8480.8788.6594.4792.1881.5864.9372.6256.51
Total Assets 216.52200.19203.42186.91189.07190.77198.92198.32189.80201.42183.39189.57173.07

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -7.7715.394.46-11.5911.6419.1017.247.543.2630.803.80-5.17
Cash from Investing Activity + -9.52-0.58-2.40-10.55-1.77-6.92-7.17-0.43-0.62-23.800.010.00
Cash from Financing Activity + 16.38-19.660.0219.00-9.76-11.81-9.87-7.07-2.68-7.01-3.612.91
Net Cash Flow -0.91-4.862.07-3.130.110.380.200.03-0.05-0.020.21-2.26
Free Cash Flow -17.3313.272.06-22.319.7812.1610.027.112.616.953.51-5.17
CFO/OP -33%76%183%-153%113%143%154%62%29%496%127%47%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-20.66-5.22-29.03-33.16-32.18-22.50-23.95-10.00-12.18-18.82-18.07-47.49

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 26827529325729030933328130623288133
Inventory Days
Days Payable
Cash Conversion Cycle 26827529325729030933328130623288133
Working Capital Days 149172155172177152125132182404915
ROCE %13%10%-0%1%3%5%3%4%3%3%2%-13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 71.42%71.42%71.42%71.23%71.20%71.01%70.95%70.90%70.88%70.88%70.88%70.88%
FIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.05%0.05%0.00%0.00%0.02%0.02%
Public 28.58%28.58%28.57%28.77%28.81%28.99%29.01%29.06%29.12%29.13%29.11%29.10%
No. of Shareholders 7,6107,6207,5227,3567,4236,7398,8578,0407,8858,3528,2378,058

Shareholding Pattern Chart

No. of Shareholders

Raj Television Network Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) -4.050.160.220.210.03
Diluted EPS (Rs.) -4.050.160.220.210.03
Cash EPS (Rs.) -3.760.440.531.531.35
Book Value[Excl.RevalReserv]/Share (Rs.) 15.2819.3319.1718.9518.75
Book Value[Incl.RevalReserv]/Share (Rs.) 23.7927.8427.6927.4727.26
Revenue From Operations / Share (Rs.) 24.2420.5116.3313.3415.09
PBDIT / Share (Rs.) -3.751.001.232.322.52
PBIT / Share (Rs.) -4.040.710.911.001.20
PBT / Share (Rs.) -4.770.230.310.250.06
Net Profit / Share (Rs.) -4.050.150.210.200.02
PBDIT Margin (%) -15.474.907.5017.4216.71
PBIT Margin (%) -16.663.485.577.507.96
PBT Margin (%) -19.671.131.941.930.45
Net Profit Margin (%) -16.700.751.321.560.16
Return on Networth / Equity (%) -26.490.801.131.100.13
Return on Capital Employeed (%) -14.522.343.033.243.92
Return On Assets (%) -11.080.430.550.570.06
Long Term Debt / Equity (X) 0.160.060.070.110.10
Total Debt / Equity (X) 0.320.190.200.240.23
Asset Turnover Ratio (%) 0.670.550.430.350.39
Current Ratio (X) 1.121.561.262.261.78
Quick Ratio (X) 1.121.171.262.091.77
Inventory Turnover Ratio (X) 25.470.000.000.000.00
Interest Coverage Ratio (X) -5.152.082.073.132.23
Interest Coverage Ratio (Post Tax) (X) -4.551.321.371.281.02
Enterprise Value (Cr.) 467.58321.02221.92227.37182.29
EV / Net Operating Revenue (X) 3.723.022.623.282.33
EV / EBITDA (X) -24.0261.5034.8718.8413.93
MarketCap / Net Operating Revenue (X) 3.512.862.412.972.07
Price / BV (X) 5.573.032.052.091.66
Price / Net Operating Revenue (X) 3.512.862.412.972.07
EarningsYield -0.040.000.010.010.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Raj Television Network Ltd. is a Public Limited Listed company incorporated on 03/06/1994 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L92490TN1994PLC027709 and registration number is 027709. Currently Company is involved in the business activities of Radio broadcasting. Company's Total Operating Revenue is Rs. 125.82 Cr. and Equity Capital is Rs. 25.96 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Entertainment & Media32, Poes Road, 2nd Street, Chennai (Madras) Tamil Nadu 600018Contact not found
Management
NamePosition Held
Mr. M RaajhendhranManaging Director
Mr. M RajarathnamWhole Time Director
Mr. M RavindranWhole Time Director
Mr. M RaghunathanWhole Time Director
Mrs. Bharathi SridharIndependent Director
Mr. Subramaniam Muthiah BalajiIndependent Director
Mr. Subramanian SivakumarIndependent Director
Mr. Venkateswaran SambamurthyIndependent Director
Mrs. R VijayalakshmiNon Executive Director

FAQ

What is the intrinsic value of Raj Television Network Ltd and is it undervalued?

As of 10 April 2026, Raj Television Network Ltd's intrinsic value is ₹28.22, which is 18.67% lower than the current market price of ₹34.70, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.7 %), book value (₹23.9), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Raj Television Network Ltd?

Raj Television Network Ltd is trading at ₹34.70 as of 10 April 2026, with a FY2026-2027 high of ₹88.0 and low of ₹31.4. The stock is currently near its 52-week low. Market cap stands at ₹180 Cr..

How does Raj Television Network Ltd's P/E ratio compare to its industry?

Raj Television Network Ltd has a P/E ratio of , which is below the industry average of 208.76. This is broadly in line with or below the industry average.

Is Raj Television Network Ltd financially healthy?

Key indicators for Raj Television Network Ltd: ROCE of 12.7 % is moderate; ROE of 15.7 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Raj Television Network Ltd profitable and how is the profit trend?

Raj Television Network Ltd reported a net profit of ₹-21 Cr in Mar 2025 on revenue of ₹126 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows a declining trend.

Does Raj Television Network Ltd pay dividends?

Raj Television Network Ltd has a dividend yield of 0.00 % at the current price of ₹34.70. 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 Raj Television Network 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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