DEN

Den Networks share price & financials

Price
₹33.08
Market cap
₹1.3k Cr
Sector
Media, Entertainment & Publication

What Den Networks Limited does

DEN Networks operates as a multi-system operator (MSO), distributing digital cable television signals to subscribers through a network of local cable operators (LMOs) spread across urban and semi-urban India, earning through subscription fees and placement/marketing income paid by broadcasters for channel positioning. Its wholly owned subsidiary, DEN Broadband Limited, holds a Unified License and separately provides wired broadband/internet services. DEN is a subsidiary of Reliance Industries Limited, giving it access to the wider Reliance content and distribution ecosystem.

Segments

  • Cable TV Distribution
  • Broadband
States covered
13
Cities/towns covered
450+
Local cable operator (LMO) network
14,000+
Market position
Largest subscriber base among cable TV players in India
Parent company
Subsidiary of Reliance Industries Limited
Broadband subsidiary
DEN Broadband Limited (wholly owned, holds a Unified License)
Founded 2007Headquarters Mumbai, Maharashtra (registered office); New Delhi (corporate office) Company website

Quarterly results

Q1 FY27: revenue up 4.5%, net profit down 35.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue245 258 244 246 248 +1%258 +0%250 +2%257 +4%
EBITDA-1 1 -18 7 -1 +0%-10 −1100%8 +144%6 −14%
Net profit34 23 24 51 23 −32%20 −13%29 +21%33 −35%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −25.1% 1Y

₹25.0₹30.0₹35.0Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹36.03 on 10 Sept 2025 → ₹26.98. High ₹36.6 (18 Sept 2025), low ₹22.98 (30 Mar 2026).

Financials, as filed

Revenue fell 4.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 0.4%.

Year endingFY23FY24FY25FY26
Revenue₹1.1k Cr₹1.0k Cr₹990 Cr₹1.0k Cr
Operating profit₹151 Cr₹77 Cr₹-5 Cr₹4 Cr
Operating margin13.3%7.4%-0.5%0.4%
Interest₹2 Cr₹4 Cr₹3 Cr₹1 Cr
Depreciation₹109 Cr₹72 Cr₹72 Cr₹65 Cr
Net profit₹264 Cr₹176 Cr₹117 Cr₹123 Cr
Net margin23.3%17.0%11.8%12.3%
Cash from operations₹121 Cr₹71 Cr₹-67 Cr₹-55 Cr
Free cash flow₹43 Cr₹40 Cr₹-97 Cr₹-91 Cr
ROCE3.0%1.0%0.0%2.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹477 Cr₹477 Cr₹477 Cr₹477 Cr₹477 Cr₹477 Cr
Reserves₹2.5k Cr₹2.7k Cr₹3.0k Cr₹3.1k Cr₹3.2k Cr₹3.4k Cr
Borrowings₹0 Cr₹0 Cr₹28 Cr₹26 Cr₹22 Cr₹20 Cr
Other liabilities₹669 Cr₹494 Cr₹481 Cr₹461 Cr₹570 Cr₹468 Cr
Total liabilities₹3.6k Cr₹3.6k Cr₹3.9k Cr₹4.1k Cr₹4.3k Cr₹4.3k Cr
Fixed assets₹259 Cr₹249 Cr₹275 Cr₹252 Cr₹434 Cr₹187 Cr
Capital work in progress₹31 Cr₹18 Cr₹25 Cr₹16 Cr₹12 Cr₹7 Cr
Investments₹2.6k Cr₹2.4k Cr₹1.9k Cr₹2.2k Cr₹1.7k Cr₹611 Cr
Other assets₹699 Cr₹944 Cr₹1.7k Cr₹1.6k Cr₹2.2k Cr₹3.5k Cr
Total assets₹3.6k Cr₹3.6k Cr₹3.9k Cr₹4.1k Cr₹4.3k Cr₹4.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +0.38 pp while FIIs trimmed −0.28 pp. The shareholder count shrank 10% to 1,47,480.

Promoters
74.9%
FIIs
0.3%
DIIs
0.1%
Public
24.6%
Others
0.1%

Since Jun 2025

  • Public +0.38 pp
  • FIIs −0.28 pp
  • DIIs −0.09 pp

How it drifted, 12 quarters

Over this window the public went from 23.5% to 24.6% — +1.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.9%, FIIs 1.3%, DIIs 0.2%, Public 23.5%, Others 0.1%.Dec '23: Promoters 74.9%, FIIs 1.0%, DIIs 0.2%, Public 23.9%, Others 0.1%.Mar '24: Promoters 74.9%, FIIs 1.1%, DIIs 0.2%, Public 23.7%, Others 0.1%.Jun '24: Promoters 74.9%, FIIs 1.0%, DIIs 0.2%, Public 23.9%, Others 0.1%.Sep '24: Promoters 74.9%, FIIs 0.8%, DIIs 0.2%, Public 24.1%, Others 0.1%.Dec '24: Promoters 74.9%, FIIs 0.7%, DIIs 0.2%, Public 24.1%, Others 0.1%.Mar '25: Promoters 74.9%, FIIs 0.8%, DIIs 0.1%, Public 24.1%, Others 0.1%.Jun '25: Promoters 74.9%, FIIs 0.6%, DIIs 0.1%, Public 24.2%, Others 0.1%.Sep '25: Promoters 74.9%, FIIs 0.5%, DIIs 0.1%, Public 24.4%, Others 0.1%.Dec '25: Promoters 74.9%, FIIs 0.5%, DIIs 0.1%, Public 24.4%, Others 0.1%.Mar '26: Promoters 74.9%, FIIs 0.5%, DIIs 0.1%, Public 24.4%, Others 0.1%.Jun '26: Promoters 74.9%, FIIs 0.3%, DIIs 0.1%, Public 24.6%, Others 0.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Den Networks Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Jio Futuristic Digital Holdings Private Limited 35.94%unchanged
Jio Television Distribution Holdings Private Limited 15.47%unchanged
Jio Digital Distribution Holdings Private Limited 15.02%unchanged
Sameer Manchanda 3.69%unchanged
Lucid Systems Private Limited 3.35%unchanged
Kavita Manchanda 0.79%unchanged
Reliance Industrial Investments and Holdings Limited 0.31%unchanged
Network 18 Media & Investments Limited 0.15%unchanged
Reliance Ventures Limited VC / PE0.10%unchanged
Vandana Manchanda 0.08%unchanged
Sanjeev Manchanda 0.01%unchanged
Reliance Industries Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse Den Networks Limited

Guides on how to read this kind of business and the numbers that matter.