New Delhi Television Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

New Delhi Television Ltd trades at ₹80.2, in a downtrend and 118 weeks into that stage. That is −8.1% against its own 200-day average. It sits at 24% of a 52-week range of ₹64 to ₹132. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).

Today the stock is in a downtrend — week 118 of stage 4, confirmed. At ₹80.2 it trades −8.1% versus its 200-day average and sits at 24% of its 52-week range (₹64–₹132).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved −6% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-07-10) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 97th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

New Delhi Television Ltd trades at 51.2× P/E, at the pricey end of its own range (97th percentile). Its long-run median P/E is 13.6×, measured across 4.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 51.2× is at the pricey end of its own range (97th percentile), against a long-run median of 13.6× measured over 4.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

The price move, decomposed: over 3y, of the −23.2%/yr price move, ~+18.4%/yr came from earnings growth and ~−41.6 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

New Delhi Television Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

31.1/100 — rank 21 of 25 in Entertainment & Media · 69% evidence confidence

New Delhi Television Ltd scores 31.1 out of 100 against the 25 companies it is compared with in Entertainment & Media, ranking 21. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 10.5 + 1.4 + 10 + 9.2 = 31.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

New Delhi Television Ltd reported ₹117 Cr of revenue in the Jun 26 quarter, +8.3% year on year. That is the 10th straight quarter of year-on-year growth. Over 10 years it has compounded at −0.7% a year. The last full year, FY26, came in at ₹528 Cr. The last four reported quarters add to ₹537 Cr.

New Delhi Television Ltd reported ₹117 Cr of revenue in the Jun 26 quarter, +8.3% year on year. That is the 10th straight quarter of year-on-year growth. Over 10 years it has compounded at −0.7% a year. The last full year, FY26, came in at ₹528 Cr. The last four reported quarters add to ₹537 Cr.

FY26 revenue came in at ₹528 Cr (+13.5% on the year), capping 10 years at −0.7% compound. The latest quarter (Jun 26) printed ₹117 Cr, +8.3% year on year — the 10th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +11.9% growth against the decade's −0.7% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +12.1% over the last 4 quarters against +16.6%/yr over the last 8 — rolling over.

→ Revenue grew — did margins hold as it scaled? Next: −58.0% this quarter (−4.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

New Delhi Television Ltd's operating margin is −58.0% in the Jun 26 quarter, −4.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −49.0% to 25.0%. The current quarter is running below every full year in that window.

New Delhi Television Ltd's operating margin is −58.0% in the Jun 26 quarter, −4.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −49.0% to 25.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is −58.0%, −4.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −49.0%–25.0%.

🚨 Why the margin moved: operating margin went −4.5 pp year on year while gross margin went +0.0 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

→ Margins slipped — did that reach the bottom line? Next: profit null in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

New Delhi Television Ltd posted a net loss of ₹82.0 Cr in the Jun 26 quarter. The full FY26 year was a loss of ₹323 Cr. That loss is 70.1% of the quarter's revenue. The same quarter a year earlier lost ₹70.0 Cr. 11 of the last 12 reported quarters were loss-making.

New Delhi Television Ltd posted a net loss of ₹82.0 Cr in the Jun 26 quarter. The full FY26 year was a loss of ₹323 Cr. That loss is 70.1% of the quarter's revenue. The same quarter a year earlier lost ₹70.0 Cr. 11 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹−82.0 Cr, null year on year. On the full year, FY26 printed ₹−323 Cr (null).

→ Profit rose — but did the cash follow? Next: 87% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 87% of New Delhi Television Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹−258 Cr of operating cash against ₹−323 Cr of profit. After ₹29.0 Cr of capital spending, ₹−287 Cr was left as free cash.

FY26: operating cash of ₹−258 Cr against reported profit of ₹−323 Cr, leaving free cash of ₹−287 Cr after ₹29.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 87% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 87%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.

Router verdict: the bigger cash user is investment — capital spending ran 3.1× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹212 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

New Delhi Television Ltd's cash conversion cycle runs 111 days in FY26, up from 108 days in FY21. Capital spending ran ₹212 Cr over the last 3 years. At FY26 sales of ₹528 Cr each day of that cycle holds about ₹1.4 Cr, so roughly ₹161 Cr sits inside the business at any moment.

FY26: debtors at 111 days (an asset-light business — no inventory to speak of) — for a full cycle of 111 days, looser than FY21's 108.

In money terms: at FY26 sales of ₹528 Cr, each day of the cycle holds about ₹1.4 Cr — so the 111-day loop keeps roughly ₹161 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹212 Cr over the last 3 fiscal years against ₹69.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹4.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is −73% and the ROIC − WACC spread is −91.6 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

New Delhi Television Ltd earns a ROCE of −73% in FY26. Return on invested capital clears the cost of that capital by −91.6 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −61.2% net margin on 0.75× asset turns.

FY26 ROCE is −73%.

🚨 Why the return is what it is — the wiring (FY26): −61.2% net margin × 0.75× asset turns × 5.50× balance-sheet leverage ≈ −252.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: −79.6% − 12.0% = a −91.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 2.02.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

New Delhi Television Ltd carries total debt of ₹258 Cr against shareholder equity of ₹129 Cr as of Jun 26, a debt-to-equity of 2.00. On the annual view that ratio went from 0.09 in FY22 to 2.00 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Jun 26: total debt of ₹258 Cr against shareholder equity of ₹129 Cr — a debt-to-equity of 2.00. On the annual view, debt-to-equity went from 0.09 (FY22) to 2.00 (FY26). Read the returns on this page with that leverage in mind.

→ Who owns this, and are they adding or leaving? Next: Promoters added 4.3 points over 8 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters added 4.3 points of New Delhi Television Ltd over 8 quarters, the biggest move on the register. That takes promoters to 69.0% of the company. Foreign institutions moved −0.1 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +4.3 points over 8 quarters to 69.0%; Foreign institutions: −0.1 points over 8 quarters to 0.0%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

Why the register moved: promoters drove it (+4.3 points) — steady accumulation by institutions reading the same numbers this page reads.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

New Delhi Television Ltd: the Z-score reads −0.88. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits inside the distress zone. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

🚨 Why it matters: a Z-score of −0.88 is inside the distress zone — the balance sheet is a real risk, not a detail.

The safety line in one sentence: the Z-score reads −0.88.

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