T.V. Today Network Ltd (TVTODAY)

Media Entertainment & Publication · Media - Print/Television/Radio · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹111.05 ↓ 25.79% (1Y)

🎯 Key Takeaways

TV Today Network Ltd is navigating a structural transition phase, marked by declining profitability and strategic divestment of non-core assets, despite stable promoter holding. The company exhibits financial distress indicators with negative ROE, low ROCE, and persistent operational volatility, though recent quarterly results show marginal improvement in core media operations.
Revenue declined 3.4% QoQ to ₹206 in Q1FY27.
⚠️ Persistent operational volatility with no clear growth trajectory in revenue or margins, despite cost adjustments.

Market Cap

₹663

P/E Ratio

38.4

P/B Ratio

0.74

ROE

1.9%

ROCE

4.0%

Debt/Equity

0.00

Promoter

63.2%

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📖 The Story

TV Today Network Ltd is navigating a structural transition phase, marked by declining profitability and strategic divestment of non-core assets, despite stable promoter holding. The company exhibits financial distress indicators with negative ROE, low ROCE, and persistent operational volatility, though recent quarterly results show marginal improvement in core media operations. Management is focused on operational streamlining and capital allocation discipline, but the business model appears challenged by sector headwinds and limited growth visibility.

📰 What's Happening

In Q1 FY27 (June 2026), the Board approved unaudited financial results showing revenue of ₹212.64 crores and net profit of ₹10.42 crores, up from ₹9.24 crores in the prior quarter, driven by an expense reversal of ₹2.72 crores due to labour code adjustments. Management disclosed progress on selling its radio business under Ind AS 105, anticipating completion before the next fiscal year-end. The 27th AGM is scheduled for September 17, 2026, via video conferencing, with procedural updates on e-voting, remote participation, and mandatory email KYC registration for shareholder communications. Shareholders must register email IDs to receive future notices and the integrated report. Insider trading window closure ahead of Q1 results underscores compliance focus. Shareholding data indicates stable promoter stake at 63.21%, but FII holding has declined from 5.15% to 4.04% over four quarters, with DII also reducing from 3.1% to 0.09%, signaling institutional erosion despite stable promoter control.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	186	212	213	206
Operating Profit	-1	5	-3	8
OPM %	-0.7%	2.5%	-1.6%	3.8%
Net Profit	-2	-0	9	10
EPS	₹-0.33	₹-0.01	₹1.51	₹1.72

The company's financial trajectory reflects a fragile recovery, with quarterly revenue stabilizing around ₹200-213 crores but profitability remaining volatile. Net profit improved sequentially from a near-break-even loss of ₹0.01 crore in December 2025 to ₹10.42 crores in June 2026, supported by one-time expense reversals rather than sustainable margin expansion. Operating margins remain subdued at 3.8% in Q1 FY27, down from 2.5% in December 2025, indicating limited operational leverage. The disposal of the radio business is expected to sharpen focus on core media operations, but the lack of revenue growth and reliance on accounting adjustments raise concerns about underlying business resilience. The balance sheet shows minimal debt but stagnant asset base, suggesting limited reinvestment capacity.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue growth or margin improvement in the reviewed filings. However, the Board's approval of unaudited Q1 results and disclosure of radio business divestment progress imply an intent to streamline operations and focus on core media. The emphasis on compliance, digital metrics (150 million monthly visitors, 75 million YouTube subscribers), and electronic shareholder communication suggests a shift toward institutional credibility and cost efficiency. Absent formal guidance, the outlook hinges on successful divestment execution and stabilization in advertising revenue trends, which are not quantified in the filings.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	30	30	30	30
Reserves	846	861	854	861
Borrowings	32	21	17	0
Total Liabilities	1,121	1,168	1,075	1,129
Fixed Assets	162	147	348	342
Investments	0	0	0	2
Total Assets	1,121	1,168	1,075	1,129

The balance sheet reveals a capital-light structure with negligible borrowings (₹17 crores as of March 2026) and a growing equity-reserve base, indicating no aggressive leverage or capital expenditure. Total assets have declined slightly from ₹1,168 crores to ₹1,075 crores over two years, while reserves remain stable around ₹854-861 crores, reflecting retained earnings despite losses. The absence of debt and consistent equity base suggest conservative financial management, but the lack of reinvestment in digital infrastructure or content suggests limited growth ambition. Capital allocation appears focused on compliance and shareholder communication rather than expansion, raising questions about long-term value creation.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+10
Investing	+20
Financing	-28
Net Cash Flow	+3

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	58.5%	63.2%	63.2%	63.2%
FII	5.2%	5.2%	4.5%	4.0%
DII	7.9%	3.1%	0.1%	0.1%
Public	22.4%	22.2%	25.9%	26.4%
# Shareholders	56,854	54,834	52,917	51,571

Shareholding trends indicate a clear institutional exit, with FII ownership declining from 5.15% to 4.04% and DII from 3.1% to 0.09% over four quarters, despite promoter stability at 63.21%. The rising number of shareholders (56,854 to 51,571) suggests retail fragmentation, but the downward trend in sophisticated investor stakes reflects declining confidence. No pledging activity is reported, but the increasing IEPF dividend claims and shrinking public float suggest growing disengagement. The lack of new institutional inflows, coupled with rising retail participation, may signal a shift toward passive or speculative retail holding without strategic conviction.

⚖️ Peer Comparison — Media - Print/Television/Radio

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
NETWORK18	4,331	—	2.4%	-0.7%	0.59
DBCORP	3,529	10.0	20.4%	14.5%	0.01
JAGRAN	1,332	7.1	13.5%	8.9%	0.02
NDTV	807	—	-96.8%	-260.9%	1.45
SANDESH	793	7.4	9.9%	7.9%	0.00
TVTODAY	663	38.4	4.0%	1.9%	0.00
HMVL	631	7.0	11.9%	5.8%	0.01
HTMEDIA	619	—	5.0%	0.3%	0.35
ZEEMEDIA	543	—	5.9%	-1.1%	0.61
RKSWAMY	457	20.1	12.8%	8.6%	0.00

🔗 Peer Stock Analyses

NETWORK18 DBCORP JAGRAN NDTV SANDESH

⚠️ Risk Factors

1. Persistent operational volatility with no clear growth trajectory in revenue or margins, despite cost adjustments. 2. Over-reliance on one-time adjustments (e.g., expense reversal) to report profitability, masking underlying weakness in core media operations. 3. Declining institutional ownership and rising IEPF dividend claims indicate eroding investor confidence and potential liquidity concerns. 4. Strategic focus on radio divestment lacks a clear timeline or buyer, leaving execution risk unaddressed. The business remains vulnerable to advertising market cyclicality and digital monetization challenges.

📋 Recent Filings

🧠 Analyst's Read

TV Today Network is in a fragile transition, with modest operational improvements offset by structural profitability challenges and declining institutional interest. The success of radio divestment and stabilization in core media economics will be critical to watch, but the absence of growth guidance or margin expansion targets limits near-term upside. Investors should monitor quarterly trends for sustainable improvement, not just one-time gains, and assess whether digital audience metrics translate into durable revenue.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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