BSE: 532798 | NSE: NETWORK18 | TV Broadcasting & Software Production | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Network 18 Media & Investments Ltd is a below average quality company.
The key valuation ratios of Network 18 Media & Investments Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Network 18 Media & Investments Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -0.5% | -17.5% | -0.7% | -1.4% | 0.3% | -13.4% | -9.6% | -0.9% | 0.3% | -1.5% | - |
| Value Creation Index ⓘ | -1.0 | -2.3 | -1.1 | -1.1 | -1.0 | -2.0 | -1.7 | -1.1 | -1.0 | -1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 102 | 74.3 | 67.3 | 66.9 | 95.2 | 112 | 111 | 119 | 167 | 187 | 622 |
| Sales YoY Gr. | - | -27.2% | -9.5% | -0.7% | 42.4% | 17.2% | -0.1% | 6.4% | 41.2% | 11.9% | - |
| Adj EPS ⓘ | -0.7 | -2.4 | -0.7 | -1.2 | -1.3 | -3.2 | -2.7 | -1.3 | -0.9 | -1.8 | -1.8 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 32.5 | 25.9 | 25.4 | 24.3 | 22.4 | 16.3 | 11.2 | 9.9 | 9 | 9.4 | 8.8 |
| Adj Net Profit ⓘ | -71.7 | -255 | -74.9 | -125 | -131 | -338 | -286 | -133 | -90 | -187 | -281 |
| Cash Flow from Ops. ⓘ | -38.3 | -39.4 | -39.9 | -57 | -76.6 | -60.2 | -73.4 | -5.7 | 16.1 | -52.1 | - |
| Debt/CF from Ops. ⓘ | -13.4 | -14 | -16.2 | -20.2 | -20.9 | -34.9 | -30.2 | -413.5 | 150 | -50.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7% | 14.5% | 18.9% | 11.9% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | -12.9% | -16% | -5.8% | 4% | ||||
| Share Price | 3.6% | 24.9% | 2% | -1.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -2 | -8.3 | -2.8 | -4.8 | -5.4 | -16.7 | -19.9 | -12 | -9.1 | -19.4 | -20.1 |
| Op. Profit Mgn % ⓘ | -68.8 | -24.3 | -61.3 | -82.3 | -68.9 | -91.2 | -73.7 | -27.3 | 2 | -29.2 | -9.4 |
| Net Profit Mgn % ⓘ | -70.3 | -342.5 | -111.2 | -187.1 | -137.8 | -302.8 | -256.4 | -111.8 | -53.8 | -99.7 | -45.1 |
| Debt to Equity ⓘ | 0.2 | 0.2 | 0.2 | 0.5 | 0.7 | 1.2 | 1.9 | 2.3 | 2.6 | 2.7 | 0 |
| Working Cap Days ⓘ | 2,559 | 2,104 | 1,349 | 1,522 | 1,245 | 997 | 638 | 393 | 253 | 240 | 58 |
| Cash Conv. Cycle ⓘ | -18 | -79 | 10 | 70 | 93 | 94 | 56 | 37 | 31 | 42 | -1,083 |
Sales growth is growing at healthy rate in last 3 years 18.88%
Sales growth is good in last 4 quarters at 18.96%
Return on Equity is Poor
Debt to equity has increased versus last 3 years average to 2.66
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -1.8 | -2.3 |
| TTM Sales (₹ Cr.) | 622 | 9,159 |
| BVPS (₹.) ⓘ | 8.8 | 95.9 |
| Reserves (₹ Cr.) ⓘ | 588 | 13,943 |
| P/BV ⓘ | 9.55 | 0.88 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 72.01 / 136.20 |
| All Time Low / High (₹) | 14.85 / 627.80 |
| Market Cap (₹ Cr.) | 12,937 |
| Equity (₹ Cr.) | 766.8 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 17.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 102 | 74 | 67 | 67 | 95 | 112 | 111 | 119 | 167 | 187 |
| Operating Expenses ⓘ | 172 | 93 | 109 | 122 | 168 | 294 | 226 | 151 | 164 | 242 |
| Manufacturing Costs | 41 | 21 | 19 | 17 | 32 | 40 | 46 | 29 | 20 | 47 |
| Material Costs | 5 | 2 | 2 | 2 | 2 | 2 | 3 | 1 | 23 | 38 |
| Employee Cost | 63 | 34 | 43 | 56 | 76 | 97 | 95 | 74 | 79 | 112 |
| Other Costs ⓘ | 64 | 36 | 45 | 47 | 58 | 154 | 82 | 47 | 42 | 44 |
| Operating Profit ⓘ | -70 | -18 | -42 | -55 | -73 | -183 | -115 | -33 | 3 | -55 |
| Operating Profit Margin (%) | -68.8% | -24.5% | -61.8% | -82.3% | -76.8% | -163.0% | -102.0% | -27.5% | 1.9% | -29.2% |
| Other Income ⓘ | 53 | 12 | 25 | 15 | 94 | 18 | 12 | 9 | 11 | 7 |
| Interest ⓘ | 54 | 58 | 53 | 70 | 86 | 116 | 128 | 103 | 99 | 134 |
| Depreciation ⓘ | 8 | 4 | 6 | 9 | 8 | 7 | 7 | 7 | 5 | 4 |
| Exceptional Items ⓘ | 5 | -620 | 0 | 0 | 0 | -346 | -234 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -75 | -688 | -75 | -119 | -73 | -634 | -471 | -133 | -90 | -187 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Profit After Tax | -75 | -688 | -75 | -119 | -74 | -635 | -472 | -133 | -90 | -187 |
| PAT Margin (%) | -73.5% | -925.0% | -111.0% | -177.0% | -77.2% | -568.0% | -423.0% | -112.0% | -53.8% | -99.6% |
| Adjusted EPS (₹) | -0.7 | -6.6 | -0.7 | -1.1 | -0.7 | -6.1 | -4.5 | -1.3 | -0.9 | -1.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 3,401 | 2,714 | 2,658 | 2,539 | 2,347 | 1,702 | 1,175 | 1,037 | 943 | 981 |
| Share Capital ⓘ | 523 | 523 | 523 | 523 | 523 | 523 | 523 | 523 | 523 | 523 |
| Reserves ⓘ | 2,878 | 2,191 | 2,135 | 2,016 | 1,823 | 1,178 | 651 | 514 | 419 | 458 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 472 | 551 | 646 | 1,149 | 1,602 | 2,101 | 2,218 | 2,336 | 2,420 | 2,610 |
| Long Term Debt | 34 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 438 | 550 | 646 | 1,148 | 1,602 | 2,101 | 2,218 | 2,336 | 2,420 | 2,610 |
| Trade Payables | 45 | 27 | 28 | 36 | 41 | 48 | 22 | 21 | 14 | 24 |
| Others Liabilities ⓘ | 323 | 242 | 238 | 240 | 252 | 269 | 308 | 287 | 294 | 79 |
| Total Liabilities ⓘ | 4,242 | 3,534 | 3,571 | 3,964 | 4,242 | 4,119 | 3,722 | 3,681 | 3,672 | 3,693 |
Fixed Assets | ||||||||||
| Gross Block | 84 | 88 | 105 | 116 | 398 | 385 | 344 | 347 | 345 | 344 |
| Accumulated Depreciation | 71 | 76 | 81 | 88 | 88 | 75 | 36 | 42 | 46 | 46 |
| Net Fixed Assetsⓘ | 13 | 12 | 24 | 28 | 310 | 309 | 308 | 305 | 300 | 298 |
| CWIP ⓘ | 3 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Investmentsⓘ | 3,531 | 3,287 | 3,272 | 3,643 | 3,558 | 3,558 | 3,272 | 3,259 | 3,255 | 3,263 |
| Inventories | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Trade Receivables | 25 | 21 | 27 | 40 | 59 | 48 | 27 | 33 | 33 | 41 |
| Cash Equivalents | 69 | 3 | 6 | 3 | 14 | 2 | 2 | 2 | 2 | 0 |
| Others Assetsⓘ | 601 | 209 | 239 | 249 | 299 | 201 | 112 | 82 | 83 | 89 |
| Total Assets ⓘ | 4,242 | 3,534 | 3,571 | 3,964 | 4,242 | 4,119 | 3,722 | 3,681 | 3,672 | 3,693 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -38 | -39 | -40 | -57 | -77 | -60 | -73 | -6 | 16 | -52 |
| PBT ⓘ | -75 | -688 | -75 | -119 | -73 | -634 | -471 | -133 | -90 | -187 |
| Adjustment ⓘ | 16 | 667 | 40 | 64 | 12 | 539 | 391 | 112 | 96 | 136 |
| Changes in Working Capital ⓘ | 27 | -16 | -2 | 1 | -13 | 21 | 10 | -3 | 8 | -10 |
| Tax Paid ⓘ | -7 | -3 | -3 | -3 | -2 | 14 | -3 | 18 | 2 | 9 |
| Cash Flow From Investing Activity ⓘ | -27 | 42 | -2 | -378 | 39 | -351 | 53 | 5 | -1 | -2 |
| Capex | -3 | -7 | -18 | -11 | -4 | -6 | -2 | -2 | 0 | -3 |
| Net Investments | 163 | 37 | 21 | -369 | -29 | -355 | -2 | 8 | 0 | 0 |
| Others ⓘ | -187 | 12 | -5 | 2 | 72 | 10 | 58 | -1 | -1 | 0 |
| Cash Flow From Financing Activityⓘ | 77 | -60 | 42 | 431 | 39 | 399 | 20 | 0 | -15 | 54 |
| Net Proceeds from Shares ⓘ | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | -40 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -48 | -84 | -53 | -71 | -83 | -99 | -97 | -116 | -97 | -132 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 125 | 23 | 95 | 542 | 122 | 498 | 117 | 116 | 82 | 186 |
| Net Cash Flow ⓘ | 11 | -57 | 0 | -3 | 1 | -12 | 0 | 0 | 1 | 0 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -2.18 | -22.49 | -2.8 | -4.57 | -3.01 | -31.35 | -32.81 | -12 | -9.1 | -19.39 |
| ROCE (%) | -0.54 | -17.54 | -0.68 | -1.38 | 0.33 | -13.37 | -9.55 | -0.89 | 0.25 | -1.51 |
| Asset Turnover Ratio | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.05 | 0.05 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 122 | 112 | 130 | 184 | 191 | 176 | 123 | 92 | 72 | 72 |
| Inventory Days | 1 | 2 | 4 | 3 | 3 | 3 | 3 | 1 | 1 | 0 |
| Payable Days | 3,878 | 6,448 | 5,061 | 7,076 | 6,958 | 6,904 | 3,938 | 8,234 | 281 | 182 |
Network18 Media and Investments Ltd is one of the largest media conglomerates with diversified but synergistic interests in Television with its bouquet of fifty channels in India and thirteen international channels, besides filmed entertainment, digital content, magazines, digital commerce and allied businesses. Network18 is promoted by Independent Media Trust of which Reliance Industries is the sole beneficiary.
‘TV18 Broadcast Limited’, a subsidiary of Network18, manages its primary business of broadcasting. It runs the largest news network in India, spanning business news (4 channels with market leadership), general news (1 each in English and Hindi), and regional news (14 channels across India, including joint venture News18-Lokmat). Marquee brands that are a part of this news bouquet are CNBC-TV18, CNBC Awaaz, and CNNNews18. For the Indian diaspora and others across the globe, News18 international delivers definitive Indian news.
TV18’s entertainment subsidiary, Viacom18 (a joint venture with Viacom CBS Inc.), operates an array of entertainment channels. The entertainment portfolio comprises Hindi and regional general entertainment channels, English entertainment, movies, youth and musical entertainment, and kids’ entertainment channels. This includes leading properties such as Colors, MTV, and Nickelodeon. Besides this, through Viacom18 Motion Pictures, the Group has a presence in the movies business too. TV18’s infotainment subsidiary, AETN18 (a joint venture with A+E Networks), operates factual entertainment channel History TV18.
In the publishing business, Network18 is present through consumer magazines and their digital footprints – Forbes India, Overdrive, and Better Photography.
The Network18 Group also houses digital content and digital-commerce businesses. The content business spans websites and mobile applications, covering news, opinion and entertainment. This includes media platforms such as Moneycontrol, News18.com, CNBCTV18.com, and Firstpost. Viacom18 also operates VOOT, an OTT (Over the Top) distribution platform offering Video On-Demand.
Network18 is the largest shareholder in BookMyShow, the leading online entertainment ticketing platform in India. It services in hundreds of cities and thousands of screens and manages ticketing as well as live event production.
Business area of the company
The company is engaged in activities spanning across Digital Content, Print and Allied Businesses
Portfolio
Milestone
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