MarketFriction

Den Networks Ltd

NSE DEN · BSE 533137 · TV Broadcasting & Software Production
₹25.41 -2.01%
NSE close2026-10-01
52 week range22.52 - 35.95
Market cap₹1,238 Cr.
P/E8.35
Price band 20% Delivery 61.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales277273258248249261248241241251241243
Expenses235233218221221233220222223238225231
Operating Profit424040272827281918131512
OPM %15%15%16%11%11%10%11%8%7%5%6%4.7%
Other Income525157556955677152585555
Interest111111010000
Depreciation292828262726262423232120
Profit before tax646269556955696546484946
Tax %29%23%-12%22%25%24%13%17%24%16%26%26%
Net Profit464877435242605435403635
EPS in Rs0.960.991.660.951.090.841.301.140.740.800.800.77
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9481,1571,2851,2061,2911,3071,2261,1301,0811,005974976
Expenses1,1239811,0071,0291,0791,0581,024979927893904918
Operating Profit-1761762781772122502021521541127058
OPM %-19%15%22%15%16%19%16%13%14%11%7%6%
Other Income511030-165176190120112206244231220
Interest79656659323013222
Depreciation2062762492422472511481191131069187
Profit before tax-409-155-7-288110186174143245249208190
Tax %5%21%139%4%47%-2%2%-65%13%21%20%
Net Profit-431-188-17-30159189171236213197166147
EPS in Rs-24.21-10.74-1.76-5.811.474.153.695.094.504.193.473.11
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth0%-6%-5%-2%
Compounded Profit Growth8%-8%-39%-29%
Stock Price CAGR-10%-12%-20%-21%
Return on Equity1%2%1%1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital178178194195477477477477477477477477
Reserves1,5327926205912,0692,1262,2982,4762,7312,9433,1433,308
Borrowings9988545055304822130028262320
Other Liabilities6491,1071,0881,041927872678554524481500478
Total Liabilities3,3572,9312,4072,3573,9553,6883,4523,5073,7593,9274,1424,283
Fixed Assets1,4251,4741,2991,186935763609557562515463404
CWIP1101294550192137212918148
Investments1451091011272,139702,1401,9131,4261,7091,516210
Other Assets1,6761,2199629948622,8346661,0161,7411,6852,1493,661
Total Assets3,3572,9312,4072,3573,9553,6883,4523,5073,7593,9274,1424,283
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity618202185422682181291398418-17
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/OP145%-35%132%66%43%126%62%59%69%59%45%99%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days12910174866838262128375540
Inventory Days
Days Payable
Cash Conversion Cycle12910174866838262128375540
Working Capital Days-194-277-167-99-125-155-86-78-82-69-66-60
ROCE %-1%-12%-4%4%-1%4%2%2%3%2%3%3%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.91%74.90%74.90%74.90%74.90%
FIIs1.30%0.98%1.11%0.96%0.76%0.74%0.82%0.63%0.49%0.51%0.46%0.35%
DIIs0.21%0.17%0.18%0.18%0.19%0.20%0.14%0.14%0.14%0.14%0.14%0.05%
Public23.50%23.86%23.72%23.87%24.05%24.07%24.05%24.23%24.40%24.36%24.42%24.61%
Others0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%
No. of Shareholders99,9021,08,5481,23,3341,39,8561,59,0391,63,1641,67,0861,63,3481,58,3771,53,5811,48,6751,47,480

Fundamentals

Market Cap₹ 1,238 Cr.
Current Price₹ 25.9
Stock P/E8.35
Book Value₹ 79.3
ROCE3.23 %
ROE1.17 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-2%
Compounded Profit Growth (TTM)-29%
Consolidated figures.
Valuation
Market capRs 1,213 Cr
Enterprise valueRs -1,906 Cr
P/E (TTM)8.18x
Price to book0.32x
Price to sales1.24x
EV / EBITDA-6.85x
EV / EBIT-9.96x
EV / sales-1.95x
Earnings yield12.23%
P/E, 3-year average8.17x
P/B, 3-year average0.45x
P/E, 5-year average7.96x
P/B, 5-year average0.47x
Profitability
Operating margin (excl. other income)7.18%
Operating margin (incl. other income)30.92%
EBITDA margin28.52%
Pre-tax margin19.44%
Net profit margin15.19%
Net margin, latest quarter15.12%
ROE4.48%
ROCE5.64%
ROA3.94%
ROE, 3-year average5.55%
ROCE, 3-year average6.70%
ROA, 3-year average4.83%
ROE, 5-year average6.13%
ROCE, 5-year average6.17%
ROA, 5-year average5.24%
ROIC (approx.)22.86%
Tax rate20.42%
Other income / net worth6.11%
Growth
Sales growth (latest year)-3.10%
Profit growth (latest year)-17.14%
Sales CAGR, 3 years-4.84%
Sales CAGR, 5 years-5.71%
Profit CAGR, 3 years-11.95%
Profit CAGR, 5 years-3.49%
Sales growth QoQ0.91%
Profit growth QoQ-4.40%
Sales growth YoY (latest quarter)0.62%
Profit growth YoY (latest quarter)-32.29%
Per share
EPS (TTM)Rs 3.11
EPS (latest year)Rs 3.47
EPS (latest quarter)Rs 0.77
EPS, 3-year averageRs 4.06
EPS, 5-year averageRs 4.19
Book value per shareRs 79.31
Sales per shareRs 20.45
Cash flow per shareRs -0.35
Free cash flow per shareRs -1.19
Efficiency
Asset turnover0.23x
Fixed asset turnover2.41x
Debtor days40 days
Debtors turnover9.08x
Cash conversion cycle40 days
Working capital days-60 days
Leverage
Total debtRs 20 Cr
Cash and bankRs 3,139 Cr
Net debtRs -3,119 Cr
Debt to equity0.01x
Net debt / EBITDA-11.21x
Interest coverage109.37x
Current ratio (filing 2026-03-31)8.36x
Quick ratio (filing 2026-03-31)8.36x
Trade payables (filing 2026-03-31)Rs 286 Cr
Owners' fund to total sources88.36%
Debt to assets0.47%
Cash flow
Cash from Operating Activity (latest year)Rs -17 Cr
Cash from Investing Activity (latest year)Rs 24 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs 4 Cr
Free cash flow (latest year)Rs -57 Cr
FCFE (approx.: FCF + change in debt)Rs -60 Cr
Cash from ops / profit, 5 years0.36x
Statement figures
Net sales (TTM)Rs 976 Cr
Net sales (latest year)Rs 974 Cr
Sales (latest quarter)Rs 243 Cr
Operating profit excl. other income (latest year)Rs 70 Cr
Operating profit (latest quarter)Rs 12 Cr
Other income (TTM)Rs 220 Cr
EBITDA (TTM)Rs 278 Cr
PBDT (TTM)Rs 277 Cr
Profit before tax (TTM)Rs 190 Cr
Tax (latest year)Rs 42 Cr
Net profit (TTM)Rs 148 Cr
Net profit (latest year)Rs 166 Cr
Net profit (latest quarter)Rs 37 Cr
Depreciation (TTM)Rs 87 Cr
Depreciation (latest quarter)Rs 20 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 701 Cr
Total expenditure (latest year)Rs 904 Cr
Total income (latest year)Rs 1,206 Cr
Share capitalRs 477 Cr
ReservesRs 3,308 Cr
Shareholders' fundsRs 3,785 Cr
Total assetsRs 4,283 Cr
Net blockRs 404 Cr
Capital work in progressRs 8 Cr
InvestmentsRs 210 Cr
ReceivablesRs 107 Cr
Other liabilitiesRs 478 Cr
Shares outstanding (crore)47.72
Ownership
Promoter holding74.90% (-0.01 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 8.2 is at the 21th percentile of its own 6.4-year range (median 9.4, low 5.8, high 53.4).
P/B 0.32 is at the 1th percentile (median 0.76).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodDENNifty 50Difference
1 week-4.2%-2.8% -1.4 pts
1 month-8.5%-6.8% -1.7 pts
3 months-14.6%-7.6% -6.9 pts
6 months+10.6%+0.4% +10.2 pts
1 year-26.0%-9.9% -16.0 pts
2 years-53.3%-13.6% -39.7 pts
3 years-49.5%+14.2% -63.7 pts
5 years-47.6%+27.9% -75.4 pts

Red flags

F-score 3 of 8
explainWeak cash conversion Cash from operations was 15% of net profit over the last 3 years
lookProfit leans on other income Other income was 111% of pre-tax profit in 2026
lookRegulator order or action Regulator order or action 2025-10-30: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹243 Cr +0.8% vs Jun 2025. Net profit ₹35 Cr -35.2%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2018-11-05 Extra Ordinary General Meeting
2018-09-10 Annual General Meeting
2017-09-20 Annual General Meeting
2016-09-20 Annual General Meeting
2015-09-18 Annual General Meeting
2014-09-17Annual General Meeting
2013-09-10Annual General Meeting
2013-05-29Extra Ordinary General Meeting
2012-09-17Annual General Meeting
2011-09-16Annual General Meeting
2010-09-01Annual General Meeting
DateTypeWhat it says
2026-09-03Shareholder meetingVoting results.
2026-09-02Shareholder meetingGist of the proceedings of the Nineteenth Annual General Meeting of the Company held today, i.e. Wednesday, September 2, 2026 is attached
2026-08-11UpdatesThe Business Responsibility and Sustainability Report of the Company for the financial year 2025-26, is attached.
2026-08-11Shareholder meetingNotice of Annual General Meeting to be held on September 02, 2026
2026-08-06General UpdatesThe 19th Annual General Meeting of the Members of the Company will be held on Wednesday, September 2, 2026 at 12:30 P.M. (IST) through Video Conferenc...
2026-07-14UpdatesInvestor Presentation.
2026-07-14Board meeting outcomeDen Networks Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-01Disclosure under SEBI TakeovJio Futuristic Digital Holdings Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchan...
2026-07-01Disclosure under SEBI TakeovSameer Manchanda has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial ...
2026-06-16Disclosure under SEBI TakeovJio Financial Services Limited  has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Indi...
2026-06-16Volume querySignificant increase in volume has been observed in Den Networks Limited. The Exchange, in order to ensure that investors have latest relevant informa...
2026-06-15Volume querySignificant increase in volume has been observed in Den Networks Limited. The Exchange, in order to ensure that investors have latest relevant informa...
2026-04-14UpdatesInvestor Presentation.
2026-04-14Board meeting outcomeDen Networks Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-01-14UpdatesInvestors Presentation.
2026-01-14Board meeting outcomeDen Networks Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2025-12-01Change in ManagementChange in Management - Mr. Sanjay Kumar Jain, Chief Technical Officer, has ceased to be a member of senior management of the Company, w.e.f. November ...
2025-11-29UpdatesApproval for Reclassification of Access Equity Private Limited under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regu...
2025-11-26Diversification/DisinvestmenDisclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015...
2025-10-30LitigationDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Upd...
2025-10-30Regulatory actionDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Upd...
2025-10-17UpdatesDisclosure regarding submission of application for reclassification of Access Equity Private Limited from the category of "Promoter Group" of the Comp...
2025-10-13Board meeting outcomeDisclosure under Regulation 30 read with Regulation 31A of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015 ( ListingRegula...
2025-10-13UpdatesInvestors Presentation.
2025-10-13Board meeting outcomeDen Networks Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Den Networks Ltd?

Den Networks Ltd (DEN) has a market capitalisation of Rs 1,238 Cr. at the 2026-10-01 close.

What is the P/E ratio of Den Networks Ltd?

Den Networks Ltd trades at a P/E of 8.35 on trailing twelve-month profit, at the 2026-10-01 close.

What were Den Networks Ltd's latest quarterly results?

In the Jun 2026 quarter, Den Networks Ltd sales was Rs 243 Cr (+0.8% vs Jun 2025) and net profit was Rs 35 Cr.

What is the 52-week high and low of Den Networks Ltd?

The 52-week high is Rs 35.95 and the 52-week low is Rs 22.52.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03