If you’ve ever scrolled through Moneycontrol, watched CNN-News18, or binge-watched something on Voot, you’ve already crossed paths with Network18. The media conglomerate has been part of India’s content journey across TV, web, and print. But the real question is—how is Network18 holding up in today’s hyper-digital, fiercely competitive media space?
India’s media landscape is no longer just about newspapers and television. With smartphones in every hand and streaming platforms dominating evenings, media companies have had to evolve fast. At the heart of this transition sits Network18 Media & Investments Ltd.—a name with deep roots, but facing serious headwinds. So, what does Network18 actually do, and is it still a force to be reckoned with?
What Exactly Does Network18 Do?
Think of Network18 as a vast content engine—a mix of newsrooms, studios, websites, and digital platforms, all tailored to different slices of Indian audiences.—a mix of newsrooms, studios, websites, and digital platforms, all tailored to different slices of Indian audiences.
Here’s how they operate, in real-world terms:
- Television Channels → Like Your DTH Menu in One Basket: Whether you’re watching CNN-News18 for English news, News18 India for Hindi headlines, or CNBC-TV18 for stock market updates, Network18 has it covered. Through its TV18 and Viacom18 ventures, it also runs Colors TV, MTV, and Nickelodeon India.
- Digital Media Platforms → Your Online Newsstand and Finance Tracker: Moneycontrol is a go-to app for stock traders and finance readers. Firstpost and News18.com keep current affairs readers engaged. Voot brings streaming entertainment. for stock traders and finance readers. Firstpost and News18.com keep current affairs readers engaged. Voot brings streaming entertainment.
- Print and Magazines → Like the Airport Lounge Shelf: Forbes India, Overdrive, Better Interiors—each caters to niche, affluent readership segments.
- Film Production and Digital Ventures → Part Movie Studio, Part VC Firm: Viacom18 Studios backs mainstream Bollywood films, while Capital18 has invested in BookMyShow, Yatra, and digital agencies like Webchutney., while Capital18 has invested in BookMyShow, Yatra, and digital agencies like Webchutney.
Where Did It All Start?
Founded in the 1990s by entrepreneur Raghav Bahl, Network18 grew rapidly as India’s media space liberalized. It went from being a business news outfit to a multi-platform empire. In 2014, Reliance Industries took over the company, effectively giving it deep pockets—but also inviting scrutiny around editorial independence. by entrepreneur Raghav Bahl, Network18 grew rapidly as India’s media space liberalized. It went from being a business news outfit to a multi-platform empire. In 2014, Reliance Industries took over the company, effectively giving it deep pockets—but also inviting scrutiny around editorial independence.
What Risks Should You Know About?
- Mounting Losses: Operating and net losses are widening.
- High Debt Load: Debt-to-equity is at 55.6%, with most debt being short-term.
- Low Liquidity: Short-term liabilities far exceed current assets.
- Ad Revenue Dependence: Advertising slowdowns hit earnings hard.
- Ownership Scrutiny: Reliance ownership has raised concerns about editorial independence.
- Tough Competition: Rivals like NDTV, Zee, and independent digital startups continue to grab share.
So, Who Is This Stock Suited For?
Might be suitable for:
- Long-term believers in India’s digital media growth.
- Those banking on Reliance’s financial backing to navigate short-term pain.
Might want to skip if you’re:
- A value investor looking for strong earnings.
- Focused on debt-light businesses.
- Seeking editorially independent journalism.
What’s New Around Network18?
- Viacom18-Star India Merger: This move consolidates Network18’s entertainment assets under one umbrella with global scale.
- Leadership Shuffle: New faces like Angad Bhatia are leading Firstpost and Creator18.
- Advertising Headwinds: TV ad inventory dipped 15% YoY.
- NDTV’s Revenue Spike: One of its key rivals grew operating revenue by 19% in Q4 FY25.
What’s the State of Its Financials? (Updated Q4 FY25)
As of the latest filings:
- Current Market Price: ₹53.90
- Market Cap: ₹8,310 crore
- P/E Ratio: Negative (due to losses)
- Book Value: ₹30.8
- ROE: -3.28%
- ROCE: 0.64%
- Dividend Yield: 0.00%
- Net Profit (Q4 FY25): ₹-29.09 crore
- Quarterly Sales: ₹561.32 crore
- Sales Growth (YoY): -76.80%
- Quarterly Profit Growth: +82.72%
These numbers show a deeply challenging quarter for Network18. Sales fell sharply while losses persisted, despite an uptick in quarterly profit growth compared to the previous quarter.
Updated Peer Comparison (Q4 FY25)
| Company | CMP (₹) | P/E | Mkt Cap (Cr) | Div. Yield | Net Profit (Cr) | Sales (Cr) | Sales Var % | ROCE (%) |
|---|---|---|---|---|---|---|---|---|
| Network18 | 53.89 | – | 8,309.85 | 0.00% | -29.09 | 561.32 | -76.80% | 0.64 |
| D B Corp | 249.60 | 11.99 | 4,447.66 | 5.18% | 52.33 | 547.66 | -11.26% | 21.01 |
| Jagran Prakashan | 76.25 | 17.69 | 1,659.62 | 7.84% | -51.46 | 481.00 | -5.62% | 6.87 |
| NDTV | 163.00 | – | 1,050.82 | 0.00% | -61.97 | 127.05 | 19.27% | -49.29 |
| TV Today Network | 172.15 | 12.44 | 1,027.20 | 4.93% | 6.15 | 249.17 | 0.73% | 12.49 |
| Sandesh Ltd | 1,193.00 | 11.70 | 903.11 | 0.42% | 9.78 | 75.36 | -11.90% | 7.57 |
| Zee Media | 14.02 | – | 876.86 | 0.00% | -36.76 | 155.80 | -12.95% | -27.20 |
Compared to these competitors, Network18 is the largest by market cap but also the weakest in terms of return ratios and sales momentum. D B Corp and TV Today Network show more financial stability and profitability.
We have covered Zee Entertainment here. Follow the link to know more!
What’s the Road Ahead?
The future of Network18 hinges on two pillars:
- Digital Monetization: Platforms like Moneycontrol and Voot have scale, but monetization remains uneven.
- Operational Discipline: Managing debt, improving cash flow, and revamping content strategies are urgent priorities.
The company’s diversified content model is its strength—but unless it reins in losses and revitalizes advertising streams, its relevance may face more tests.
Disclaimer: This article is for informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any security.
Sources: Economic Times, Screener, Moneycontrol, SimplyWallSt, Reuters, ICRA, Network18 Annual Report, Wikipedia, LinkedIn
