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Den Networks
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Company History
Den Networks Limited was incorporated in India on 10 July, 2007 and is primarily engaged in distribution of television channels through digital cable distribution network and provision of broadband services. The Company changed status from a Private Limited Company to a Public Limited Company on 15 April, 2008 thereby changing its name to DEN Digital Entertainment Networks Limited. Subsequently, the name of Company was again changed to DEN Networks Limited on 27 June, 2008. Through aggressive acquisition, it has emerged as the larges national level MSO (Multi System Operator) in India.
DEN Networks Limited is India's largest cable TV distribution company, founded and promoted by Industry veteran Sameer Manchanda. DEN serves an estimated 11 million subscribers in over 115 cities across 13 major Indian states. DEN serves the majority of cable TV subscribers in Delhi, Uttar Pradesh and Karnataka and has a large presence in Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Haryana, Uttarakhand and Kerala. DEN continues to expand its presence in India and has entered important cities and towns in West Bengal, Jharkhand and Bihar. DEN has partnered with the Star, Zee and Turner groups in the Media Pro Joint venture. MediaPro is India's leading content aggregation and distribution Company offering over 70 leading pay TV channels including all Star, Zee, Turner and NDTV channels.
The company's digital cable offering, with their feature-rich user interface and a portfolio of cutting edge value added services is widely regarded as India's best. Their digital cable offering includes over 180 leading channels, a multi-genre digital music service, blog.Telly (India's first micro blogging service on TV) and interactive games.
The company operates between one and three own brand television channels from each of their head-ends, which are telecast exclusively on their cable distribution network. These channels primarily telecast films, music, devotional programmes or local events and news. They have the rights to telecast more than 4,000 films on their network. They have obtained an all-India ISP license and have commenced a limited roll out of broadband internet services in select areas.
In October 12, 2007, the company entered into a partnership with Priya Mukherjee through a partnership deed for establishing Creative Cable Network. In January 14, 2008, the company entered into a joint venture agreement with Star India Pvt Ltd and formed a 50:50 joint venture company, STAR-DEN, to operate a television channel distribution business in India, Nepal and Bhutan.
In February 2008, the company launched their digital cable television services under the brand, Digitelly. They also obtained a non-exclusive license from the DoT to set up and operate internet services all over India. In March 2008, they imported fist set of set top boxes.
In April, 15, 2008, the company was converted into public limited company and the name was changed to DEN Digital Entertainment Networks Ltd. In June 27, 2008, the name of the company was changed from DEN Digital Entertainment Networks Ltd to DEN Networks Ltd. In August 2008, the company obtained a license to operate the conditional access system in Delhi and Mumbai.
During the year 2009-10, the company issued and allotted 18,567,240 equity shares of face value of Rs 10 each, pursuant to the Initial Public Offer (IPO), which were admitted for listing and trading on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) with effect from November 24, 2009.
During the year, the company expanded their analogue cable services to 84 cities and digital cable services to a majority of cities where it present and plans to roll out digital cable television in all of the remaining cities of its operations across the country. They acquired majority stake in the business of 76 MSOs and took their affiliates count to 83.
The company was awarded 'The Best Indian Cable TV MSO' at the Indian Telly Awards Function held by Indiantelevision.com in June 2010. They have also featured in the Business Standard BS 1000 annual ranking of Indian companies in February 2010 and were ranked among the Top 500 companies by revenues.
In October 2010, the company through their subsidiary, IME Networks Pvt Ltd, entered into a 75-25 joint venture with BFTV, Broadcasters of the BabyFirst Channel, a leading international television channel for babies, toddlers and parents. The joint venture will house all rights for Baby First's businesses in India and other select territories, including the distribution of the channel and related businesses.
The company intends to acquire majority stakes in established MSOs in order to consolidate their position in the states in which they already have a presence and to expand into other Indian states that have significant market potential for increased digital cable penetration and high revenue growth.
In May 2011, STAR DEN Media Services, a 50:50 joint venture between Star India Private Ltd. and DEN, formed a 50:50 joint venture with Zee Turner for jointly distributing channels of the two entities across India. The joint venture company is called Media Pro Enterprise India Private Limited, which commenced operations from July 2011. In October 2010, IME Networks Private Limited, a subsidiary of DEN, entered into a joint venture with BFTV LLC to distribute the 'BabyFirst TV' channel in India and select countries in South Asia.
DEN launched its premiere High Definition digital cable service under the brand name of DEN HD in 2012, including real HD channels in video resolution of 1080i and Dolby Digital (5.1 Surround Sound).
During the financial year 2013-14, the Company had raised funds of Rs. 9,608.22 million by way of Qualified Institutional Placement (QIP) and Preferential Issue of equity shares. Further, during the current year, the Company has also raised Rs. 1,424.34 million by way of Preferential Issue of equity shares.
At the end of FY 2016, DEN converted about 4.4 million subscribers in DAS III and IV. During year 2016, Star Den Media Services Pvt. Ltd. have ceased to be Joint Venture effective from March 30, 2016 and DEN Sports & Entertainment Pvt. Ltd. became an Associate Company through selling of proportionate stake effective from the aforementioned date.
During FY 2016-17, the Broadband/ Internet Service Provider (ISP) Business Undertaking of the Company was transferred into DEN Broadband Private Limited effective from April 1 2016.
During FY 2016-17, Macro Commerce Pvt. Ltd. became Subsidiary Company pursuant to acquisition of further stake effective on July 15, 2016; Den Digital Cable Network Private Limited, a Subsidiary Company, increased the holdings from 51% to 88.57% effective from March 06, 2017; Delhi Sports & Entertainment Private Limited (Formerly known as Den Sports & Entertainment Private Limited), a Wholly owned subsidiary diluted further 25% Stake in Delhi Sports and the present holding of the Company stood at approx. 19.29% on October 15, 2016; Macro Commerce Pvt. Ltd sold off its entire stake to Pimex Broadcast Private Limited, including the shares held by DEN and Jasper Infotech Private Limited effective on June 05, 2017.
During the year 2019-20, the Board of Directors of the Company in Feb' 2020, approved the Composite Scheme of Amalgamation and Arrangement between the Company, Hathway Cable and Datacom Limited, TV18 Broadcast Limited, Network18 Media & Investments Limited, Media18 Distribution Services Limited, Web18 Digital Services Limited and Digital18 Media Limited and their respective Shareholders and Creditor with Appointed Date, i.e., February 1, 2020, which inter - alia provides for amalgamation of the Company, TV18 and Hathway into Network18 and transfer of the cable, broadband and digital businesses by Network18 to it's 3 separate wholly owned subsidiaries, namely Media18, Web18 and Digital18, respectively.
Den Networks Share Price
Den Networks share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Den Networks Market Cap
Market capitalization of Den Networks indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Den Networks is valued compared to its competitors.
Den Networks PE Ratio
Den Networks PE ratio helps investors understand what is the market value of each stock compared to Den Networks 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
Den Networks PEG Ratio
The PEG ratio of Den Networks evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Den Networks ROE (Return on Equity)
Return on Equity (ROE) measures how effectively Den Networks generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Den Networks ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of Den Networks in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Den Networks Total Debt
Total debt of Den Networks shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
Den Networks Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of Den Networks compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
Den Networks CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of Den Networks over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Den Networks Technical Analysis
Technical analysis of Den Networks helps investors get an insight into when they can enter or exit the stock. Key components of Den Networks Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Den Networks shares often struggle to rise above due to selling pressure.
Den Networks Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Den Networks ’s financial health and profitability.
Den Networks Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Den Networks Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
Den Networks Financials
The financials of Den Networks provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
Den Networks Profit and Loss Statements
The profit and loss statement of Den Networks highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Den Networks .
Den Networks Balance Sheet
The balance sheet presents a snapshot of Den Networks ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Den Networks Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
SEBI REGISTERED RESEARCH ANALYST REGISTRATION NUMBER: INH000015729Disclaimer: "Investments in securities are subject to market risks. Read all the related documents carefully before investing." Receiving registration from SEBI and certification from NISM does not assure the performance of the intermediary or guarantee returns to investors in any manner. Compliance Email: [email protected]
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