New Risk • Apr 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 36% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (36% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (14% net profit margin). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹28.96, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 16x in the Media industry in India. Negligible returns to shareholders over past three years. Announcement • Apr 07
DEN Networks Limited to Report Q4, 2026 Results on Apr 14, 2026 DEN Networks Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on Apr 14, 2026 Reported Earnings • Jan 15
Third quarter 2026 earnings released: EPS: ₹0.80 (vs ₹0.85 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.80 (down from ₹0.85 in 3Q 2025). Revenue: ₹3.08b (up 18% from 3Q 2025). Net income: ₹379.9m (down 5.8% from 3Q 2025). Profit margin: 12% (down from 16% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Jan 07
DEN Networks Limited to Report Q3, 2026 Results on Jan 14, 2026 DEN Networks Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Jan 14, 2026 Announcement • Nov 27
Infomedia and Networking Private Limited acquired 56.88% stake in Den Budaun Cable Network Private Limited from DEN Networks Limited (NSEI:DEN). Infomedia and Networking Private Limited acquired 56.88% stake in Den Budaun Cable Network Private Limited from DEN Networks Limited (NSEI:DEN) on November 26, 2025. A cash consideration will be paid by Infomedia and Networking Private Limited for 41,388 equity shares. Infomedia and Networking Private Limited acquired Den Fateh Marketing Private Limited, Den Budaun Cable Network Private Limited and Mahadev Den Cable Network Limited for consideration of INR 30.
As of March 31, 2025, Den Budaun Cable Network Private Limited reported total common equity of INR 0.58 million.
Infomedia and Networking Private Limited completed the acquisition of 56.88% stake in Den Budaun Cable Network Private Limited from DEN Networks Limited (NSEI:DEN) on November 26, 2025. Reported Earnings • Oct 14
Second quarter 2026 earnings released: EPS: ₹0.74 (vs ₹1.09 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.74 (down from ₹1.09 in 2Q 2025). Revenue: ₹2.93b (up 18% from 2Q 2025). Net income: ₹351.6m (down 32% from 2Q 2025). Profit margin: 12% (down from 21% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Announcement • Oct 06
DEN Networks Limited to Report Q2, 2026 Results on Oct 13, 2025 DEN Networks Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Oct 13, 2025 Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent Director Naina Murthy was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 30
DEN Networks Limited, Annual General Meeting, Aug 22, 2025 DEN Networks Limited, Annual General Meeting, Aug 22, 2025, at 12:00 Indian Standard Time. Reported Earnings • Jul 17
First quarter 2026 earnings released: EPS: ₹1.14 (vs ₹0.95 in 1Q 2025) First quarter 2026 results: EPS: ₹1.14 (up from ₹0.95 in 1Q 2025). Revenue: ₹2.41b (down 2.5% from 1Q 2025). Net income: ₹542.2m (up 19% from 1Q 2025). Profit margin: 23% (up from 18% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 07
DEN Networks Limited to Report Q1, 2026 Results on Jul 14, 2025 DEN Networks Limited announced that they will report Q1, 2026 results at 12:08 PM, Indian Standard Time on Jul 14, 2025 Reported Earnings • Apr 24
Full year 2025 earnings released: EPS: ₹4.20 (vs ₹3.68 in FY 2024) Full year 2025 results: EPS: ₹4.20 (up from ₹3.68 in FY 2024). Revenue: ₹10.1b (down 2.8% from FY 2024). Net income: ₹2.00b (up 14% from FY 2024). Profit margin: 20% (up from 17% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Apr 16
DEN Networks Limited to Report Q4, 2025 Results on Apr 23, 2025 DEN Networks Limited announced that they will report Q4, 2025 results on Apr 23, 2025 Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent Director Naina Murthy was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 14
Third quarter 2025 earnings released: EPS: ₹0.85 (vs ₹0.99 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.85 (down from ₹0.99 in 3Q 2024). Revenue: ₹3.16b (up 16% from 3Q 2024). Net income: ₹403.1m (down 15% from 3Q 2024). Profit margin: 13% (down from 17% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jan 06
DEN Networks Limited to Report Q3, 2025 Results on Jan 13, 2025 DEN Networks Limited announced that they will report Q3, 2025 results at 12:08 PM, Indian Standard Time on Jan 13, 2025 Reported Earnings • Oct 11
Second quarter 2025 earnings released: EPS: ₹1.09 (vs ₹0.96 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.09 (up from ₹0.96 in 2Q 2024). Revenue: ₹3.18b (up 15% from 2Q 2024). Net income: ₹520.5m (up 14% from 2Q 2024). Profit margin: 16% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 03
DEN Networks Limited to Report Q2, 2025 Results on Oct 10, 2024 DEN Networks Limited announced that they will report Q2, 2025 results on Oct 10, 2024 Announcement • Aug 26
DEN Networks Limited, Annual General Meeting, Sep 16, 2024 DEN Networks Limited, Annual General Meeting, Sep 16, 2024, at 13:00 Indian Standard Time. Reported Earnings • Jul 16
First quarter 2025 earnings released: EPS: ₹0.95 (vs ₹0.89 in 1Q 2024) First quarter 2025 results: EPS: ₹0.95 (up from ₹0.89 in 1Q 2024). Revenue: ₹3.03b (up 11% from 1Q 2024). Net income: ₹455.2m (up 6.8% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jul 09
DEN Networks Limited to Report Q1, 2025 Results on Jul 15, 2024 DEN Networks Limited announced that they will report Q1, 2025 results on Jul 15, 2024 Reported Earnings • Apr 20
Full year 2024 earnings released: EPS: ₹4.50 (vs ₹5.09 in FY 2023) Full year 2024 results: EPS: ₹4.50 (down from ₹5.09 in FY 2023). Revenue: ₹10.8b (down 4.4% from FY 2023). Net income: ₹2.15b (down 12% from FY 2023). Profit margin: 20% (down from 22% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Apr 16
DEN Networks Limited Appoints Mr. Omesh Uppal as the Chief Operating Officer DEN Networks Limited announced that at its board meeting held on April 16, 2024, approved the appointment of Mr. Omesh Uppal as the Chief Operating Officer of the Company with effect from April 16, 2024. Mr. Omesh Uppal, aged 49 years, is a media professional with experience of over 27 years across Broadcast Media & Digital Entertainment and Fast-moving Consumer Goods sectors. He holds a Post Graduate Diploma in Business Administration from Apeejay School of Marketing and has completed B.Sc. (Honours) from Delhi University. He has worked with IndiaCast Media Distribution Private Limited, Nestle India Private Limited, and various television channels such as Sony, Discovery, ESPN Star Sports. Announcement • Apr 10
DEN Networks Limited to Report Q4, 2024 Results on Apr 16, 2024 DEN Networks Limited announced that they will report Q4, 2024 results on Apr 16, 2024 Reported Earnings • Jan 13
Third quarter 2024 earnings released: EPS: ₹0.99 (vs ₹1.03 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.99 (down from ₹1.03 in 3Q 2023). Revenue: ₹3.24b (up 17% from 3Q 2023). Net income: ₹472.8m (down 3.5% from 3Q 2023). Profit margin: 15% (down from 18% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jan 06
DEN Networks Limited to Report Q3, 2024 Results on Jan 12, 2024 DEN Networks Limited announced that they will report Q3, 2024 results on Jan 12, 2024 Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹54.80, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 35x in the Media industry in India. Total loss to shareholders of 21% over the past three years. New Risk • Oct 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (39% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Reported Earnings • Oct 15
Second quarter 2024 earnings released: EPS: ₹0.96 (vs ₹1.00 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.96 (down from ₹1.00 in 2Q 2023). Revenue: ₹2.77b (down 3.7% from 2Q 2023). Net income: ₹456.8m (down 3.8% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Oct 07
DEN Networks Limited to Report Q2, 2024 Results on Oct 13, 2023 DEN Networks Limited announced that they will report Q2, 2024 results at 4:00 PM, Indian Standard Time on Oct 13, 2023 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹49.05, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 34x in the Media industry in India. Total loss to shareholders of 29% over the past three years. Announcement • Aug 01
DEN Networks Limited, Annual General Meeting, Aug 22, 2023 DEN Networks Limited, Annual General Meeting, Aug 22, 2023, at 16:00 Indian Standard Time. Agenda: To consider and adopt (a) the audited financial statement of the Company for the financial year ended March 31, 2023; to consider appoint Mr. Anuj Jain who retires by rotation as a Director; to consider To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2024; and to consider other matters. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹39.75, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 22x in the Media industry in India. Total loss to shareholders of 52% over the past three years. Reported Earnings • Jul 20
First quarter 2024 earnings released: EPS: ₹0.89 (vs ₹0.27 in 1Q 2023) First quarter 2024 results: EPS: ₹0.89 (up from ₹0.27 in 1Q 2023). Revenue: ₹2.73b (down 3.6% from 1Q 2023). Net income: ₹426.2m (up 232% from 1Q 2023). Profit margin: 16% (up from 4.5% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • Jul 08
DEN Networks Limited to Report Q2, 2023 Results on Jul 14, 2023 DEN Networks Limited announced that they will report Q2, 2023 results at 4:00 PM, Indian Standard Time on Jul 14, 2023 Reported Earnings • Apr 15
Full year 2023 earnings released: EPS: ₹5.09 (vs ₹3.69 in FY 2022) Full year 2023 results: EPS: ₹5.09 (up from ₹3.69 in FY 2022). Revenue: ₹12.4b (up 1.4% from FY 2022). Net income: ₹2.43b (up 38% from FY 2022). Profit margin: 20% (up from 14% in FY 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 13
Third quarter 2023 earnings released: EPS: ₹1.03 (vs ₹0.95 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.03 (up from ₹0.95 in 3Q 2022). Revenue: ₹3.19b (up 8.6% from 3Q 2022). Net income: ₹490.2m (up 7.9% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jan 06
DEN Networks Limited to Report Q3, 2023 Results on Jan 12, 2023 DEN Networks Limited announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Jan 12, 2023 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹32.40, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 22x in the Media industry in India. Total loss to shareholders of 27% over the past three years. Reported Earnings • Oct 16
Second quarter 2023 earnings released: EPS: ₹1.00 (vs ₹0.83 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.00 (up from ₹0.83 in 2Q 2022). Revenue: ₹2.87b (down 12% from 2Q 2022). Net income: ₹475.1m (up 21% from 2Q 2022). Profit margin: 17% (up from 12% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 07
Full year 2022 earnings released: EPS: ₹3.69 (vs ₹4.15 in FY 2021) Full year 2022 results: EPS: ₹3.69 (down from ₹4.15 in FY 2021). Revenue: ₹12.3b (down 6.3% from FY 2021). Net income: ₹1.76b (down 11% from FY 2021). Profit margin: 14% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Rajendra Hingwala was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 15
Full year 2022 earnings released: EPS: ₹3.69 (vs ₹4.15 in FY 2021) Full year 2022 results: EPS: ₹3.69 (down from ₹4.15 in FY 2021). Revenue: ₹12.3b (down 6.3% from FY 2021). Net income: ₹1.76b (down 11% from FY 2021). Profit margin: 14% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Apr 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Rajendra Hingwala was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 19
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: ₹0.95 (down from ₹1.38 in 3Q 2021). Revenue: ₹3.22b (down 5.8% from 3Q 2021). Net income: ₹454.4m (down 31% from 3Q 2021). Profit margin: 14% (down from 19% in 3Q 2021). Revenue missed analyst estimates by 3.5%. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 16
Second quarter 2022 earnings released: EPS ₹0.83 (vs ₹0.77 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2022 results: Revenue: ₹3.59b (up 6.2% from 2Q 2021). Net income: ₹393.9m (up 7.2% from 2Q 2021). Profit margin: 11% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Rajendra Hingwala was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 09
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Rajendra Hingwala was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Rajendra Hingwala was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 18
First quarter 2022 earnings released: EPS ₹0.86 (vs ₹1.23 in 1Q 2021) The company reported a poor first quarter result with weaker earnings and profit margins, although revenues were flat. First quarter 2022 results: Revenue: ₹3.03b (flat on 1Q 2021). Net income: ₹411.5m (down 30% from 1Q 2021). Profit margin: 14% (down from 20% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 16% share price gain to ₹57.95, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 16x in the Media industry in India. Total loss to shareholders of 37% over the past three years. Reported Earnings • Apr 18
Full year 2021 earnings released: EPS ₹4.15 (vs ₹1.47 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹13.1b (up 1.2% from FY 2020). Net income: ₹1.98b (up 183% from FY 2020). Profit margin: 15% (up from 5.4% in FY 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 17
New 90-day low: ₹58.05 The company is down 17% from its price of ₹70.35 on 19 November 2020. The Indian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 18% over the same period. Is New 90 Day High Low • Jan 22
New 90-day low: ₹61.70 The company is down 16% from its price of ₹73.40 on 23 October 2020. The Indian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 14% over the same period. Reported Earnings • Jan 15
Third quarter 2021 earnings released: EPS ₹1.38 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹3.99b (up 26% from 3Q 2020). Net income: ₹655.7m (up 239% from 3Q 2020). Profit margin: 16% (up from 6.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 21
New 90-day low: ₹63.20 The company is down 8.0% from its price of ₹68.90 on 22 September 2020. The Indian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Oct 21
Market pulls back on stock over the past week After last week's 16% share price decline to ₹73.05, the stock is trading at a trailing P/E ratio of 24.9x, down from the previous P/E ratio of 29.7x. This compares to an average P/E of 19x in the Media industry in India. Total return to shareholders over the past three years is a loss of 12%. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 23% share price gain to ₹92.90, the stock is trading at a trailing P/E ratio of 37.8x, up from the previous P/E ratio of 30.7x. This compares to an average P/E of 19x in the Media industry in India. Total returns to shareholders over the past three years are 9.3%. Is New 90 Day High Low • Sep 22
New 90-day low: ₹68.90 The company is down 17% from its price of ₹82.60 on 24 June 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 10.0% over the same period. 