New Delhi Television Limited (NDTV) AI Stock Analysis

• Market Cap: ₹7.48B
• Dividend Yield: N/A
• Average Volume (3M): 14.89K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.16
• Revenue Growth: 19.53%
• EPS Growth: -138.48%
• Country: IN
• Employees: 671
• Sector: Services
• Sector Strength: N/A
• Industry: Broadcasting
• EPS (TTM): -10.13
• Shares Outstanding: 112,824,720
• 10 Day Avg. Volume: 10,944
• 30 Day Avg. Volume: 14,889
• PEG Ratio: >-0.01
• Price to Book (P/B): 15.87
• Price to Sales (P/S): 2.00
• P/FCF Ratio: -4.17
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: ₹68.00 ▼(-32.83% Downside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is weighed down primarily by poor financial performance (losses, higher leverage, and negative operating/free cash flow). Technicals also remain bearish with the stock trading below key moving averages and a negative MACD, despite oversold readings. Valuation is difficult to support with a negative P/E and no indicated dividend yield.

Positive Factors

Multi-platform business model

NDTV's TV plus digital distribution and advertising/sponsorship revenue mix provides durable diversification as audiences shift online. Cross-platform ad inventory and sponsorship capabilities support more stable monetization and reduce dependence on any single distribution channel over coming quarters.

Top-line growth momentum

Reported ~14% revenue growth indicates continuing commercial demand for NDTV's content. Sustained top-line expansion creates scope for margin recovery if costs are controlled and can provide runway to invest in digital scaling and product improvements over the next 2-6 months.

Established broadcasting presence

As an established broadcaster with production and distribution capabilities, NDTV benefits from brand recognition, editorial resources and platform carriage relationships. These structural assets support long-term audience retention and recurring ad/sponsorship opportunities across formats.

Negative Factors

Negative profitability

Persistent negative EBIT and net income reduce internal funding for operations and strategic investments. Continued losses erode shareholder equity, depress ROE, and force dependence on external capital, which impairs long-term financial resilience and flexibility.

Negative operating and free cash flow

Negative operating and free cash flow create ongoing liquidity pressure and limit the company's ability to finance programming, platform investment or debt service internally. This heightens refinancing and continuity risk absent reliable external funding.

Rising leverage

A materially worsened debt-to-equity ratio increases fixed obligations and reduces financial headroom. Higher leverage makes NDTV more vulnerable to advertising cyclicality and constrains its ability to pursue strategic initiatives or absorb short-term revenue shocks.

New Delhi Television Limited Business Overview & Revenue Model

Company Description

New Delhi Television Limited, together with its subsidiaries, engages in television media business in India, the United States, Europe, and internationally. The company operates through two segments, Television Media and Related Operations; and Retail/E-commerce. It operates NDTV 24X7, an English news channel; NDTV India, a Hindi news channel; and NDTV Profit-NDTV Prime, a business and infotainment channel. The company also operates various e-commerce platforms, such as Fifth Gear Auto, an auto portal; and Goodtimes, Gadgets 360°, SmartCooky, and Mojarto.com. New Delhi Television Limited was incorporated in 1988 and is based in New Delhi, India.

How the Company Makes Money

NDTV primarily generates revenue from advertising and sponsorships sold across its television channels and digital properties. Key revenue streams typically include (i) on-air television advertising (commercial spots during programming), (ii) program sponsorships and branded segments, and (iii) digital advertising on its websites and apps, including display/video ads and other digital ad formats. Where applicable, a broadcaster may also earn distribution-related income (e.g., fees tied to carriage or platform distribution arrangements) and content-related income (e.g., monetization of video content on third-party platforms); however, specific amounts, mix, or contractual details for NDTV are null because they are not provided here.

New Delhi Television Limited Financial Statement Overview

Summary

Weak fundamentals: the income statement shows negative EBIT and net income with deteriorating margins, the balance sheet reflects higher leverage (worsening debt-to-equity and lower equity ratio) with negative ROE, and cash flow is pressured by negative operating and free cash flow, raising liquidity and funding risk.

Income Statement

The company has shown a significant decline in profitability with a negative EBIT and net income in the most recent year. The revenue growth from last year was substantial but was accompanied by declining gross profit margins. This indicates challenges in cost management and operational inefficiencies.

Balance Sheet

The debt-to-equity ratio has worsened significantly, pointing to increased leverage and financial risk. The equity ratio has also decreased, indicating a higher proportion of assets financed by debt. Return on equity is negative due to the net losses, suggesting poor returns for shareholders.

Cash Flow

The operating cash flow and free cash flow are both negative, which raises concerns about liquidity and the company's ability to finance its operations without external funding. The free cash flow to net income ratio is negative, reflecting inefficiencies in converting earnings into cash.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	4.90B	4.65B	3.70B	3.86B	3.96B	3.58B
Gross Profit	1.88B	1.03B	2.46B	2.82B	3.13B	1.72B
EBITDA	-1.98B	-1.79B	-62.46M	822.65M	1.23B	1.23B
Net Income	-2.61B	-2.16B	-202.29M	487.31M	798.41M	708.96M
Balance Sheet
Total Assets	6.91B	6.43B	5.99B	4.66B	4.79B	4.54B
Cash, Cash Equivalents and Short-Term Investments	134.20M	102.80M	276.63M	963.58M	1.16B	256.78M
Total Debt	4.64B	3.38B	1.13B	75.10M	218.24M	745.30M
Total Liabilities	7.78B	5.83B	3.13B	1.58B	2.23B	2.83B
Stockholders Equity	-886.20M	587.30M	2.58B	2.80B	2.33B	1.52B
Cash Flow
Free Cash Flow	-1.21B	-2.23B	-1.05B	-240.30M	1.48B	333.15M
Operating Cash Flow	-1.04B	-1.44B	-675.87M	-129.70M	1.55B	426.48M
Investing Cash Flow	-79.40M	-734.20M	498.62M	395.70M	-780.70M	120.20M
Financing Cash Flow	1.16B	2.13B	213.44M	-192.30M	-811.14M	-723.73M

New Delhi Television Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 101.23
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NDTV, the sentiment is Negative. The current price of 101.23 is above the 20-day moving average (MA) of 76.54, above the 50-day MA of 82.30, and above the 200-day MA of 100.62, indicating a bearish trend. The MACD of -3.87 indicates Positive momentum. The RSI at 25.85 is Positive, neither overbought nor oversold. The STOCH value of 4.83 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NDTV.

New Delhi Television Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DVL	60 Neutral	₹7.11B	41.40	―	1.75%	-16.02%	-61.61%
DHUNINV	58 Neutral	₹4.58B	-57.61	―	0.24%	-29.04%	-78.51%
TVTODAY	58 Neutral	₹5.70B	-1,506.21	―	2.22%	-15.80%	-79.80%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
ZEEMEDIA	51 Neutral	₹4.40B	2.64	―	―	3.58%	18.64%
NDTV	43 Neutral	₹7.48B	-2.37	―	―	19.53%	-138.48%
ESSARSHPNG	42 Neutral	₹4.58B	-1.60	―	―	-189.01%	-87.15%

New Delhi Television Limited Corporate Events

NDTV Pushes GoodTimes Channel Acquisition Completion to Next Three Months

New Delhi Television Limited has provided an update on its planned acquisition of the GoodTimes channel business undertaking from Lifestyle & Media Broadcasting Limited, indicating that the transaction is progressing and now expected to close within approximately three months. Completion of the deal remains contingent on obtaining required statutory and regulatory approvals and satisfying standard conditions precedent, signaling continued expansion of NDTV’s channel portfolio and a potential strengthening of its position in the lifestyle and entertainment segment.

The timeline revision underscores that the acquisition process is active but subject to regulatory scrutiny, which may influence integration plans and the pace at which NDTV can leverage GoodTimes’ audience and brand. Stakeholders, including investors and advertisers, are likely to watch the approval process closely, as the successful consummation of the deal could enhance NDTV’s market reach and content diversification in a competitive broadcast landscape.

NDTV Seeks Shareholder Nod via Postal Ballot for Re-Appointment of Whole-Time Director

New Delhi Television Limited has initiated a postal ballot process, conducted exclusively through remote e-voting, to seek shareholder approval for key corporate matters in line with the Companies Act and SEBI listing regulations. The notice, dated January 28, 2026, has been made available on the company’s and NSDL’s websites, ensuring regulatory compliance and wider shareholder participation.

A principal item on the ballot is the proposed re-appointment of Mr. Sanjay Pugalia as Whole-time Director for a further three-year term from April 1, 2026 to March 31, 2029, with terms of remuneration to be set by the board within applicable laws. The move underscores NDTV’s intent to maintain continuity in its top management and governance framework, which may provide strategic stability for operations and clarity for investors and other stakeholders.

NDTV Faces Rs 443 Crore Tax Demand, Plans Appeal Against Assessment Order

NDTV has disclosed that the Deputy Commissioner of Income Tax, Central Circle-5, New Delhi, has passed an assessment order for the 2008-09 financial year and raised an income-tax demand of Rs 443.28 crore against the company. The broadcaster plans to challenge the order by filing an appeal before the Commissioner of Income Tax (Appeals) and will seek a stay on the demand while pursuing all available legal remedies, reiterating its belief that it has strong grounds in the dispute, which could have significant financial and regulatory implications depending on the outcome.

NDTV Receives Monitoring Agency Report on ₹396.5 Crore Rights Issue Utilisation

New Delhi Television Limited has disclosed that CARE Ratings Limited, acting as the monitoring agency, has submitted its report for the quarter ended 31 December 2025 on the utilisation of proceeds from NDTV’s rights issue of 4,83,53,450 equity shares, aggregating Rs 396.50 crore. The report, prepared in line with SEBI regulations and the monitoring agency agreement, was reviewed by NDTV’s Audit Committee on 28 January 2026, underscoring the company’s compliance with regulatory requirements and its ongoing transparency regarding the deployment of capital raised through the rights issue.

NDTV Drops Plan to Launch Three Proposed HD News Channels

New Delhi Television Limited has voluntarily surrendered the approvals granted by India’s Ministry of Information & Broadcasting for three proposed high-definition news and current affairs channels—NDTV INDIA HD, NDTV 24×7 HD and NDTV PROFIT HD—after an internal strategic assessment. The company has decided not to proceed with launching these non-operational channels and has emphasized that this decision will not have any material impact on its existing business operations or financial position, indicating a strategy of focusing resources on current channels and platforms rather than expanding its HD linear channel lineup at this time.

NDTV Receives GST Show Cause Notices Alleging Wrongful Input Tax Credit

New Delhi Television Limited has disclosed that it received scrutiny show cause notices from the Delhi GST authorities under central, state and integrated GST laws for financial years 2022–23 and 2023–24, alleging wrongful availment and utilisation of excess input tax credit and short payment of tax. The notices propose a combined liability of about ₹13.69 crore for FY 2022–23 and ₹20.25 crore for FY 2023–24, including tax, interest and penalties, subject to adjudication, and the company is currently reviewing the allegations and documentation and plans to file detailed legal responses within the stipulated timelines, while stating that these notices have no immediate impact on its financial position, operations or other activities.

NDTV Files Scrutinizer’s Report on Fully Electronic Postal Ballot Voting

New Delhi Television Limited has informed the stock exchanges that it has completed a postal ballot process conducted exclusively through remote e-voting, in line with SEBI listing regulations and applicable provisions of the Companies Act. The company provided an e-voting facility via NSDL between November 27 and December 26, 2025, and appointed an independent scrutinizer, Vishal Arora T. Associates, to oversee and report on the voting process, with the postal ballot notice and related documents circulated electronically and hosted on the company’s and exchanges’ websites. This move underscores NDTV’s adherence to evolving regulatory and compliance norms around shareholder communication and decision-making, and reflects the continued normalization of fully electronic voting mechanisms for listed companies’ corporate actions.