Den Networks Ltd

Den Networks Ltd

₹ 54.2 2.84%
24 Apr 11:50 a.m.
About

Den network ltd is a mass media & entertainment company that provides visual entertainment to its customers through cable TV, over-the-top (OTT) entertainment, and broadband services. It has curated media content from Various broadcasters across a wide range of genres and entertains 13 million+ households in India across 13 key states and 433 cities and is the Largest Subscriber Base amongst all cable players in India.[1]

Key Points

A Subsidiary of Reliance Industries
Reliance through its network of subsidiaries has acquired ~59% in Den networks in FY19. [1] Reliance Industries holds ~75% stake in the company as of FY23. [2]

  • Market Cap 2,589 Cr.
  • Current Price 54.2
  • High / Low 69.4 / 29.5
  • Stock P/E 14.8
  • Book Value 75.7
  • Dividend Yield 0.00 %
  • ROCE 5.89 %
  • ROE 4.98 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.73 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 0.50% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 4.76% over last 3 years.
  • Earnings include an other income of Rs.204 Cr.
  • Working capital days have increased from 122 days to 494 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
321 289 296 280 289 275 279 271 285 271 273 267 224
274 254 263 235 243 240 249 241 250 246 241 243 228
Operating Profit 47 35 33 45 46 35 30 30 35 25 32 24 -4
OPM % 15% 12% 11% 16% 16% 13% 11% 11% 12% 9% 12% 9% -2%
28 33 35 27 26 4 49 41 27 50 50 49 55
Interest 0 1 0 0 0 0 0 1 1 1 1 1 1
Depreciation 37 24 23 22 21 22 17 18 19 19 18 18 17
Profit before tax 38 43 45 50 51 16 62 52 42 55 63 54 34
Tax % 1% 0% 0% 0% 0% 0% 0% 0% -267% 13% 28% 25% -23%
37 43 45 50 51 16 62 52 154 48 45 41 42
EPS in Rs 0.78 0.91 0.95 1.05 1.07 0.33 1.29 1.10 3.22 1.00 0.95 0.86 0.87
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
695 861 847 874 899 1,064 1,009 1,195 1,240 1,154 1,110 1,035
565 764 872 1,140 855 927 931 1,062 1,017 991 981 957
Operating Profit 131 98 -25 -266 44 137 78 134 224 163 129 77
OPM % 19% 11% -3% -30% 5% 13% 8% 11% 18% 14% 12% 7%
28 66 97 135 -15 21 -96 188 185 117 121 204
Interest 45 83 77 76 60 60 56 31 3 1 1 2
Depreciation 50 85 109 148 185 144 145 166 159 90 77 73
Profit before tax 64 -4 -114 -356 -216 -46 -219 124 247 190 172 207
Tax % 30% 225% 3% -0% 0% 32% 0% 30% 0% 0% -65% 15%
45 5 -111 -357 -216 -31 -219 86 246 190 283 176
EPS in Rs 3.35 0.29 -6.22 -20.02 -11.15 -1.58 -4.59 1.81 5.15 3.97 5.94 3.68
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 2%
5 Years: 1%
3 Years: -6%
TTM: -7%
Compounded Profit Growth
10 Years: 79%
5 Years: 34%
3 Years: -7%
TTM: -17%
Stock Price CAGR
10 Years: -11%
5 Years: -5%
3 Years: 7%
1 Year: 77%
Return on Equity
10 Years: 0%
5 Years: 5%
3 Years: 5%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 133 178 178 178 194 195 477 477 477 477 477 477
Reserves 680 1,583 1,471 885 639 615 2,157 2,242 2,469 2,664 2,960 3,136
713 974 929 835 485 529 479 213 0 0 28 26
267 292 389 916 893 899 855 760 669 494 481 461
Total Liabilities 1,793 3,027 2,967 2,813 2,211 2,238 3,968 3,692 3,615 3,635 3,946 4,099
500 617 675 887 735 678 518 366 259 249 275 252
CWIP 53 75 93 115 31 31 8 11 31 18 25 16
Investments 568 858 697 622 399 579 2,613 541 2,628 2,424 1,946 2,241
671 1,477 1,502 1,189 1,046 950 829 2,774 699 944 1,699 1,591
Total Assets 1,793 3,027 2,967 2,813 2,211 2,238 3,968 3,692 3,615 3,635 3,946 4,099

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
20 -22 -34 -46 172 124 -8 155 227 97 121 71
-438 -1,076 94 271 7 -58 -1,997 499 -317 -218 -27 -52
423 1,115 -121 -169 -263 -21 1,936 -674 136 96 -113 -4
Net Cash Flow 5 17 -61 55 -84 45 -69 -20 45 -25 -19 15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 82 120 141 140 129 130 119 97 82 57 61 55
Inventory Days 0 0 0
Days Payable
Cash Conversion Cycle 82 120 141 140 129 130 119 97 82 57 61 55
Working Capital Days -11 -91 -141 -122 -63 -62 -106 -67 -65 -65 -64 494
ROCE % 9% 3% -2% -13% -6% 2% -1% 4% 8% 3% 3%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.90% 74.90% 74.90% 74.90% 74.90% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91%
0.76% 0.76% 1.03% 1.05% 1.22% 1.19% 1.27% 1.08% 1.24% 1.30% 0.98% 1.11%
0.97% 0.00% 0.00% 0.00% 0.00% 0.40% 0.19% 0.19% 0.20% 0.21% 0.17% 0.18%
23.27% 24.24% 23.97% 23.95% 23.78% 23.41% 23.56% 23.74% 23.57% 23.50% 23.86% 23.72%
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 74,75578,09286,90390,53598,72895,42592,90491,15389,34599,9021,08,5481,23,334

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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