Business Overview

DEN Networks is a leading Cable TV Distribution company incorporated in 2007 with registered office in Maharashtra. Operations cover over 440+ cities/towns across 13 key states: Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand. DEN Broadband Limited, incorporated in 2011, is a wholly owned subsidiary holding Unified License for broadband services.

Consolidated Financial Highlights (Q1 FY26-27 vs Q1 FY25-26)

Revenue Performance:

  • Revenue: ₹243 crore (1% increase from ₹241 crore YoY)
  • Other operating income: ₹16 crore (236% increase from ₹5 crore YoY)
  • Activation income: ₹2 crore (4% increase from ₹2 crore YoY)

Cost Structure:

  • Content cost: ₹165 crore (7% increase from ₹155 crore YoY)
  • Personnel cost: ₹15 crore (4% decrease from ₹19 crore YoY)
  • Other operating expenses: ₹48 crore (1% decrease from ₹50 crore YoY)
  • Provision for doubtful debts: ₹2 crore (66% decrease from ₹7 crore YoY)
  • Total cost: ₹230 crore (2% increase from ₹225 crore YoY)

Profitability Metrics:

  • EBITDA: ₹13 crore (17% decrease from ₹15 crore YoY)
  • EBITDA margin: 5% (down from 6% YoY and 9% in previous comparable period)
  • Depreciation & amortization: ₹20 crore (5% decrease from ₹21 crore YoY)
  • Finance costs: ₹0 crore (unchanged from ₹0 crore YoY)
  • Other income: ₹55 crore (4% increase from ₹53 crore YoY)
  • Share of profit/(loss) of associates: ₹(1) crore (deterioration from ₹2 crore profit YoY)
  • PBT: ₹46 crore (6% decrease from ₹49 crore YoY)
  • Tax expense: ₹12 crore (8% decrease from ₹13 crore YoY)
  • PAT: ₹35 crore (5% decrease from ₹36 crore YoY)
  • Total comprehensive income: ₹35 crore (2% decrease from ₹36 crore YoY)

Consolidated Balance Sheet (as of June 30, 2026 vs March 31, 2026)

Liabilities:

  • Share capital: ₹477 crore (unchanged)
  • Surplus & reserves: ₹3,345 crore (increase from ₹3,308 crore)
  • Net worth: ₹3,822 crore (increase from ₹3,785 crore)
  • Minority interest: ₹39 crore (decrease from ₹41 crore)
  • Deferred revenue: ₹37 crore (decrease from ₹39 crore)
  • Trade payables: ₹417 crore (46% increase from ₹286 crore)
  • Other liabilities: ₹119 crore (10% decrease from ₹132 crore)
  • Total liabilities & equity: ₹4,434 crore (increase from ₹4,283 crore)

Assets:

  • Fixed assets (net): ₹239 crore (6% decrease from ₹254 crore)
  • Capital work-in-progress: ₹9 crore (increase from ₹8 crore)
  • Goodwill on consolidation: ₹150 crore (unchanged)
  • Total fixed assets: ₹398 crore (3% decrease from ₹412 crore)
  • Non-current investments: ₹65 crore (2% decrease from ₹66 crore)
  • Trade receivables: ₹256 crore (49% increase from ₹171 crore)
  • Cash & cash equivalents: ₹3,383 crore (4% increase from ₹3,283 crore)
  • Other assets: ₹332 crore (5% decrease from ₹351 crore)
  • Total assets: ₹4,434 crore (increase from ₹4,283 crore)