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Swing Capital

Raj Television Network Ltd

NSE: RAJTV BSE: 532826

Incorporated in 1994, Raj Television Network Ltd is in the business of Operating Commercial Satellite Television Channels[1]

₹21.2
52W: ₹19.8 — ₹52.9
PE 139 · Book ₹24 · -12% vs book
Market Cap₹110 Cr
Stock P/E139Price to Earnings
ROCE2.63%Return on Capital
ROE0.64%Return on Equity
Div. Yield0%Face Value ₹5

Strengths

  • +Company has reduced debt.
  • +Stock is trading at 0.89 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -2.20% over past five years.
  • −Company has a low return on equity of -4.85% over last 3 years.
  • −Company has high debtors of 156 days.

Shareholding Pattern

Promoters70.91%
FIIs0.02%
DIIs0%
Public29.07%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.01%70.95%▼0.170.9%▼0.070.88%▼0.070.88%70.88%70.88%70.91%▲0.0
FIIs0%0.05%▲0.10.05%0%▼0.10%0.02%▲0.00.02%0.02%
DIIs0%0%0%0%0%0%0%0%
Public28.99%29.01%▲0.029.06%▲0.029.12%▲0.129.13%▲0.029.11%▼0.029.1%▼0.029.07%▼0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales39.5416.225.4335.9342.7221.7316.5715.7616.3921.32
Expenses39.0914.4643.5334.4341.3826.1815.2214.6815.520.53
Operating Profit0.451.74-18.11.51.34-4.451.351.080.890.79
OPM %1.14%10.74%-71.18%4.17%3.14%-20.48%8.15%6.85%5.43%3.71%
Net Profit-0.460.99-16.880.070.27-4.480.350.170.050.22
EPS ₹-0.090.19-3.250.010.05-0.860.070.030.010.04

AI Insights

Revenue Trend

Mar 2026 revenue at ₹70.05Cr, down 44.3% YoY. OPM at 5.87%.

Debt Position

Borrowings at ₹20.59Cr. Debt-to-equity ratio: 0.21x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0.02% (+0.02pp change). Promoters hold 70.91%.

Margin & Efficiency

ROCE declining from 10.06% (Mar 2015) to 2.63% (Mar 2026). Working capital days: 23.86.

Valuation

PE 139x with 2.63% ROCE. Price is -12% above book value of ₹24. Dividend yield: 0%.

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