Raj Television Network Limited (RAJTV) AI Stock Analysis

• Market Cap: ₹2.02B
• Dividend Yield: N/A
• Average Volume (3M): 1.95K
• Price to Earnings (P/E): 1020.6
• Beta (1Y): -0.04
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 246
• Sector: Services
• Sector Strength: N/A
• Industry: Broadcasting
• EPS (TTM): 0.01
• Shares Outstanding: 51,913,345
• 10 Day Avg. Volume: 3,833
• 30 Day Avg. Volume: 1,954
• PEG Ratio: <0.01
• Price to Book (P/B): 3.57
• Price to Sales (P/S): 3.50
• P/FCF Ratio: -85.21
• 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: 48 Neutral
• Price Target: ₹38.00 ▼(-10.74% Downside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is held down primarily by the sharp FY2025 deterioration in profitability and cash generation (losses and negative free cash flow), with only moderate balance-sheet support. Technicals are mildly positive in the near term (above key short/intermediate moving averages with positive MACD), but valuation support is limited given the negative P/E and no provided dividend yield.

Positive Factors

Balance-sheet resilience

Moderate leverage with debt-to-equity under 0.30 and meaningful equity provides a durable capital cushion. This balance-sheet resilience supports near-term liquidity and refinancing flexibility, helping the company absorb earnings shocks and preserve operating continuity over the next months.

Diversified broadcasting revenue mix

RAJTV’s core model combines advertising, distribution/subscription fees and content licensing/digital monetization. These complementary streams reduce dependence on any single channel, supporting revenue stability across cyclical ad markets and enabling long-term recovery if one segment weakens.

Prior profitability track record

The company generated profits in FY2020–FY2024, indicating the business model can be operationally profitable. That historical profitability suggests cost structure and revenue levers exist to restore margins if management controls costs or market conditions normalize, aiding medium-term recovery.

Negative Factors

Sharp FY2025 profit collapse

A severe drop to negative gross profit and heavy operating/net losses in FY2025 signals fundamental erosion of core economics. Sustained negative unit economics undermines ability to generate operating earnings, risks capital erosion, and demands structural fixes to restore viability over months.

Negative operating and free cash flow

Materially negative operating and free cash flow removes internal funding for day-to-day operations and investments. Persistent cash outflow raises financing and liquidity risk, constrains content spend and distribution deals, and can force dilutive financing or asset sales if not reversed.

Rising debt reduces flexibility

Debt rising against a backdrop of losses increases leverage and stress on the balance sheet. Higher debt burdens limit strategic options, raise refinancing and interest-rate exposure, and could force cuts to programming or marketing, impeding revenue recovery and long-term competitiveness.

Raj Television Network Limited Business Overview & Revenue Model

Company Description

Raj Television Network Limited operates as a television satellite broadcaster in south India. It operates 13 channels in Tamil, Telugu, Kannada, Malayalam, and Hindi languages that broadcast movies, serials, debates, cultural, educational, cookery, handicrafts, and religious programs, as well as comedy shows, game shows, music shows, news time, etc. in India, South East Asia, the Middle East, the United States, Europe, MENAP, Africa, and the Asia Pacific regions. The company also engages in the advertisement and subscription businesses. In addition, it is involved in the movie production and distribution activities; and export of films in foreign market and web casting movie content over the internet. The company was incorporated in 1994 and is headquartered in Chennai, India.

How the Company Makes Money

RAJTV primarily makes money through broadcasting-related revenue streams. These typically include (1) advertising income earned by selling commercial airtime and sponsorships around its programming; and (2) distribution or subscription income earned through arrangements with cable, DTH, and other TV distribution platforms that carry its channels (often structured as carriage, placement, or subscription-sharing agreements depending on the market and platform). Additional revenue may come from content monetization such as licensing or syndication of owned/controlled programming to third parties and digital exploitation of content, but specific details on the size, mix, or named partners for these streams are null.

Raj Television Network Limited Financial Statement Overview

Summary

Financial performance is weak: FY2025 shows a sharp deterioration into heavy operating and net losses with negative gross profit, and both operating cash flow and free cash flow turned negative. The balance sheet is a relative support with moderate leverage and meaningful equity, but rising debt alongside negative earnings/cash flow increases risk.

Income Statement

Revenue has grown consistently into FY2025 (up ~4.6% YoY), but profitability deteriorated sharply: FY2025 shows negative gross profit and heavy operating losses (EBIT and EBITDA deeply negative), culminating in a sizable net loss (about -16.7% net margin). Prior years (FY2020–FY2024) were profitable but with thin net margins, indicating a business that was already low-margin and has now experienced a material cost/earnings shock.

Balance Sheet

Leverage appears moderate with debt-to-equity below 0.30 in FY2025, and equity remains sizable relative to total assets, which provides some balance-sheet resilience. However, losses in FY2025 drove return on equity meaningfully negative, and total debt increased versus FY2024—reducing flexibility if weak earnings persist.

Cash Flow

Cash generation weakened materially in FY2025, with operating cash flow turning negative and free cash flow also negative, which raises near-term funding risk if the trend continues. In FY2024, operating and free cash flow were positive but modest, and free cash flow had already declined versus the prior year—suggesting cash-flow volatility and limited cushion heading into the FY2025 downturn.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	967.83M	1.26B	1.06B	847.88M	692.60M	783.13M
Gross Profit	139.70M	-28.78M	106.78M	368.69M	356.33M	554.97M
EBITDA	-3.78M	-197.13M	52.20M	63.65M	124.74M	128.55M
Net Income	-36.96M	-210.13M	8.06M	11.25M	10.86M	1.32M
Balance Sheet
Total Assets	1.73B	1.90B	1.83B	2.01B	1.90B	1.98B
Cash, Cash Equivalents and Short-Term Investments	1.70M	4.09M	26.70M	24.64M	24.80M	25.26M
Total Debt	245.06M	355.67M	229.16M	248.68M	303.77M	345.74M
Total Liabilities	490.25M	660.41M	388.51M	576.83M	471.94M	567.93M
Stockholders Equity	1.24B	1.24B	1.45B	1.44B	1.43B	1.42B
Cash Flow
Free Cash Flow	26.25M	-51.69M	35.13M	69.45M	26.13M	84.25M
Operating Cash Flow	26.25M	-51.69M	38.00M	307.98M	32.60M	88.56M
Investing Cash Flow	0.00	0.00	123.15K	-238.01M	-6.23M	-4.31M
Financing Cash Flow	-28.64M	29.09M	-36.06M	-70.12M	-26.84M	-83.93M

Raj Television Network Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
DGCONTENT	52 Neutral	₹1.40B	-6.54	―	―	4.81%	17.58%
SAMBHAAV	52 Neutral	₹1.14B	112.13	―	―	-4.53%	-100.15%
BAGFILMS	51 Neutral	₹866.88M	44.51	―	―	10.86%	249.20%
RAJTV	48 Neutral	₹2.02B	1,020.62	―	―	―	―
TNTELE	43 Neutral	₹391.49M	-3.30	―	―	―	―

Raj Television Network Limited Corporate Events

Raj Television Network to Close Trading Window Ahead of Q3 Results

Raj Television Network Limited has announced the closure of its trading window for dealing in the company’s securities for promoters, directors, designated persons, connected persons, insiders and their immediate relatives. In line with SEBI’s Prohibition of Insider Trading Regulations and the company’s internal code of conduct, the window will be closed from January 1, 2026 until 48 hours after the declaration of its unaudited financial results for the quarter ended December 31, 2025, a standard governance measure aimed at preventing insider trading and ensuring fair disclosure for all market participants.