Den Networks Limited is an Indian cable television and broadband service provider company. Started in 2007 by Non-Executive Director & Chairman Sameer Manchanda, the company's vision was to bring a digitally-enriched, cable TV experience to the Indian masses while offering the best value for money. In 2018, Reliance Industries acquired a significant stake in the company. Today, DEN provides digital cable entertainment (DEN Cable), high-speed broadband services (DEN Broadband), and an OTT entertainment app (DEN TV+).
Den Networks Limited is India's leading cable TV distribution company, reaching an estimated 13 million households in over 200 cities across India. The company has been a frontrunner in the digitisation process and boasts over 8.5 million digital cable subscribers. DEN's Cable operation covers over 450+ cities/towns across 13 key states including Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh, and Uttarakhand.
The company's business segments primarily consist of Cable and Broadband. The Cable segment focuses on the distribution and promotion of television channels, while the Broadband segment provides internet services. The majority of the company's revenue is generated from its cable segment. DEN Cable is recognized as the largest cable distribution company in India, providing Cable TV entertainment services to 13 million+ subscribers across 13 states and 450+ cities in India.
As one of the market leaders in India's digital television space, DEN Cable offers 450+ channels and up to 45 HD TV channels, spanning all major genres and languages. DEN HD PVR Lite is the company's premium High Definition offering with recording facility, providing storage up to 1TB. Den Networks has also launched its broadband services using DOCSIS 3.0 technology under the brand name of DEN BroadBand, quickly acquiring a substantial subscriber base in cities like New Delhi, NCR, Kanpur, Jodhpur, and Jhansi.
DEN TV+, an exclusive offering for DEN Cable & Broadband subscribers, is available for download on Android and iOS platforms. It holds the distinction of being the first MSO (Multi System Operator) to offer live and pre-recorded media content on an application.
Den Networks has a market capitalization of ₹1,851 crore as of recent data, with revenue of ₹1,005 crore and a profit of ₹197 crore. On a full-year basis, the company's consolidated net profit decreased 6.79% to ₹200.06 crore, while revenue declined by 6.97% to ₹1,005.41 crore in FY25 compared to FY24.
• Q4 FY25 Performance: Net profit declined 21.35% to ₹62.18 crore (compared to ₹79.06 crore in Q4 FY24). Sales declined 3.84% to ₹248.10 crore (against ₹258.02 crore in Q4 FY24).
• FY25 Annual Performance: Net profit declined 6.80% to ₹200.06 crore (against ₹214.65 crore in FY24). Sales declined 6.97% to ₹1,005.41 crore (against ₹1,080.75 crore in FY24).
• EBITDA Margin: EBITDA dropped 30% to ₹28 crore in Q4 FY25 (compared to ₹40 crore in Q4 FY24). EBITDA margin declined to 11% in Q4 FY25 (against 16% in Q4 FY24).
• Cash Position: As of March 31, 2025, cash and cash equivalents stood at ₹3,146 crore (compared to ₹3,089 crore as of March 31, 2024).
• Market Capitalization: ₹1,851 crore (as of recent data).
• Promoter Holding: 74.90% (as of March 2025).
On October 17, 2018, Reliance Industries announced its acquisition of a 66% stake in DEN for ₹2,290 crore (US$270 million), which received approval from the Competition Commission of India in January 2019. Reliance further increased its stake by acquiring an additional 12.05% in March 2019, bringing its total ownership to 78.62%. Promoter holding in Den Networks Ltd stands at 74.90% as of March 2025.
DEN boasts a strong financial performance track record, achieving positive EBITDA in its first full year of operations and positive PAT in its second. The company curates media content from various broadcasters across a wide range of genres, entertaining over 13 million households in India across 13 key states and 433 cities, and maintaining the largest subscriber base among all cable players in India.
The company's strategic focus remains on expanding its digital footprint and enhancing customer experience through technological innovations. This approach aims to maintain its position as one of India's leading cable television distribution companies in the rapidly evolving media and entertainment landscape.
• P/E (Price-to-Earnings) Ratio: 8.78
• P/B (Price-to-Book) Ratio: 0.49
• 52-Week High: ₹58.90
• 52-Week Low: ₹28.14
Den Networks Ltd belongs to the Communication Services sector and the Cable & D2H sub-sector, presenting a key player in India's digital entertainment and connectivity market.
