Network18 Media & Investments Limited (NETWORK18) AI Stock Analysis

• Market Cap: ₹67.31B
• Dividend Yield: N/A
• Average Volume (3M): 272.74K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.31
• Revenue Growth: -68.47%
• EPS Growth: -145.26%
• Country: IN
• Employees: 5,008
• Sector: Services
• Sector Strength: N/A
• Industry: Broadcasting
• EPS (TTM): 0.27
• Shares Outstanding: 1,542,000,000
• 10 Day Avg. Volume: 197,053
• 30 Day Avg. Volume: 272,740
• PEG Ratio: -0.01
• Price to Book (P/B): 1.45
• Price to Sales (P/S): 1.00
• P/FCF Ratio: -2.45
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: ₹46.00 ▲(4.05% Upside)

Network18 Media & Investments Limited receives a low overall stock score due to significant financial instability, as reflected in its declining revenues, high leverage, and negative cash flow. Technical analysis further indicates bearish momentum, with the stock trading below key moving averages and showing oversold conditions. Valuation metrics are concerning, with a negative P/E ratio and no dividend yield, highlighting profitability challenges and limited investor appeal.

Positive Factors

Strategic Partnerships

Strategic partnerships enhance content diversity and market presence, providing a competitive edge and potential for revenue growth.

Market Reach

Being part of Reliance Industries offers extensive resources and market reach, supporting long-term growth and competitive positioning.

Equity Growth

Growth in stockholders' equity indicates strengthening financial foundation, which can support future investments and stability.

Negative Factors

Revenue Decline

Declining revenues highlight challenges in maintaining market share and competitiveness, impacting long-term financial health.

High Leverage

High leverage increases financial risk and limits flexibility, potentially hindering growth and operational resilience.

Negative Cash Flow

Negative cash flow suggests inefficiencies in operations and cash management, necessitating improvements for financial sustainability.

Network18 Media & Investments Limited Business Overview & Revenue Model

Company Description

Network18 Media & Investments Limited operates as a media and entertainment company in India. The company engages in television, digital content, filmed entertainment, digital commerce, print, and allied businesses. It operates business news channels, such as CNBC-TV18, CNBC Awaaz, and CNBC Bajar; general news channels, including CNN News18, News18 India, News18 International, and News18; and regional news channels comprising News18 network. The company also operates Hindi general entertainment channels consisting of Colors, Colors Cineplex, Colors Rishtey, Rishtey Cineplex, MTV India, and MTV Beats; English entertainment channels, such as VH1, Comedy Central, and Colors Infinity; and regional entertainment channels consisting of Colors Kannada, Colors Super, Kannada Cinema, Colors Bangla, Colors Marathi, Colors Gujarati, Colors Oriya, and Colors Tamil. In addition, it operates kids entertainment channels comprising Nickelodeon, Sonic, Nick Jr., and Nick HD+; factual entertainment and lifestyle channels, such as HistoryTV18 and FYI TV18; VOOT, a Viacom18's video-on-demand platform; filmed entertainment channels, such as Viacom18 Motion Pictures; and IndiaCast, a content asset monetization channel, as well as Tipping Point for digital content production. Further, the company operates digital content websites, including MoneyControl, News18.com, CNBCTV18.com, and Firstpost, as well as bookmyshow.com, an online ticketing platform; and TopperLearning, a premier K-12 content, delivery, and assessment service provider. Additionally, it publishes Forbes India, Overdrive, and Better Photography magazines; and produces films and TV shows. The company was formerly known as Network18 Fincap Private Limited and changed its name to Network18 Media & Investments Limited in December 2007. Network18 Media & Investments Limited was incorporated in 1996 and is based in Mumbai, India. Network18 Media & Investments Limited operates as a subsidiary of Reliance Industries Limited.

How the Company Makes Money

Network18 generates revenue through multiple streams, primarily from advertising and subscription models. Advertising revenue is a significant contributor, with businesses seeking to promote their products and services through the company's television channels and digital platforms. The company also earns subscription fees from cable and direct-to-home (DTH) operators for its premium channels. Additionally, NETWORK18 receives revenue from content syndication and licensing, as well as strategic partnerships that enhance its reach and distribution capabilities. The company benefits from collaborations with major players in the media industry, enabling it to expand its audience base and increase advertising revenue.

Network18 Media & Investments Limited Financial Statement Overview

Summary

Network18 Media & Investments Limited faces significant financial challenges, with declining revenues and profitability concerns. The high leverage and negative cash flow indicate financial instability, necessitating strategic adjustments to improve operational efficiency and liquidity. While there are some strengths in equity growth, overall, the financial statements reflect a need for careful financial management and potential restructuring to secure long-term viability.

Income Statement

Network18 Media & Investments Limited shows inconsistent revenue trends with a notable decrease in total revenue from 2024 to 2025. The company experienced negative net income in recent years, highlighting profitability challenges. Negative EBIT and EBITDA margins in the latest period indicate operational inefficiencies and a need for cost management improvements. Despite some periods of revenue growth, the overall income statement reflects financial instability.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, indicating significant leverage and potential financial risk. However, a positive note is the increase in stockholders' equity over the years. The equity ratio remains moderate, reflecting a balance between debt and equity financing. The increasing total liabilities and decreasing cash reserves suggest a focus on managing debt levels and liquidity to ensure financial stability.

Cash Flow

The cash flow statement shows consistent negative free cash flow, indicating cash flow challenges. Operating cash flow to net income ratio is negative, suggesting inefficiencies in converting revenue to cash. The company has faced difficulty in generating positive cash flow from operations, and the recent large negative free cash flow highlights cash management issues. Efforts to improve cash generation and reduce capital expenditures are critical for financial health.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	42.14B	68.88B	92.97B	62.23B	58.80B	46.83B
Gross Profit	20.39B	12.64B	15.99B	17.93B	33.89B	28.99B
EBITDA	-9.15B	-12.95B	328.00M	2.35B	11.54B	8.15B
Net Income	-14.13B	-16.87B	-2.06B	-842.70M	2.08B	322.80M
Balance Sheet
Total Assets	0.00	84.98B	398.81B	139.84B	91.45B	82.57B
Cash, Cash Equivalents and Short-Term Investments	1.13B	1.15B	80.57B	3.48B	4.63B	3.80B
Total Debt	0.00	29.60B	81.56B	60.69B	22.84B	25.54B
Total Liabilities	-48.08B	36.89B	116.67B	93.89B	45.37B	44.90B
Stockholders Equity	48.08B	47.43B	152.27B	6.75B	7.55B	5.47B
Cash Flow
Free Cash Flow	0.00	-28.11B	-88.69B	-35.36B	4.57B	12.62B
Operating Cash Flow	0.00	-19.12B	-64.65B	-28.04B	6.41B	13.46B
Investing Cash Flow	0.00	13.13B	-51.69B	-7.22B	-2.50B	-848.30M
Financing Cash Flow	0.00	7.20B	11.39B	34.11B	-3.81B	-10.49B

Network18 Media & Investments Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 44.21
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NETWORK18, the sentiment is Neutral. The current price of 44.21 is above the 20-day moving average (MA) of 43.32, below the 50-day MA of 45.93, and below the 200-day MA of 50.19, indicating a neutral trend. The MACD of -0.91 indicates Negative momentum. The RSI at 47.36 is Neutral, neither overbought nor oversold. The STOCH value of 74.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:NETWORK18.

Network18 Media & Investments Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TVTODAY	65 Neutral	₹8.15B	40.25	―	2.22%	-15.80%	-79.80%
HATHWAY	60 Neutral	₹22.23B	22.77	―	―	3.88%	-3.40%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
ZEEMEDIA	43 Neutral	₹5.94B	-7.11	―	―	3.58%	18.64%
NETWORK18	40 Underperform	₹67.31B	-5.23	―	―	-68.47%	-145.26%
NDTV	40 Underperform	₹10.56B	-2.71	―	―	19.53%	-138.48%
DISHTV	38 Underperform	₹7.25B	-1.07	―	―	-22.62%	66.73%

Network18 Media & Investments Limited Corporate Events

Network18 Opens Special Window for Physical Share Transfers

Network18 Media & Investments Limited has announced a special window for the re-lodgement of transfer requests for physical shares, as published in newspapers on October 17, 2025. This move is significant for shareholders holding physical share certificates, allowing them to update their share transfer requests, which could enhance the company’s operational efficiency and stakeholder engagement.

Network18 Acquires Full Ownership of IBN Lokmat

Network18 Media & Investments Limited has announced the acquisition of equity and preference shares, along with a debenture, from Lokmat Media Private Limited in IBN Lokmat News Private Limited for Rs. 25 crores. This acquisition will make IBN Lokmat a wholly-owned subsidiary, enhancing Network18’s presence in the Marathi news segment. The transaction, valued independently by Ernst & Young, is a related party transaction conducted at arm’s length, with no interest from the company’s promoter group. The acquisition is expected to finalize by the end of October 2025, with no regulatory approvals required.