Stock Performance and Market Context
On 19 Jan 2026, Network 18 Media & Investments Ltd’s share price slipped by 2.06% during the trading session, closing at Rs.39.21, its lowest level in the past year. This decline comes after two consecutive days of losses, cumulatively eroding 3.93% of the stock’s value. The stock’s performance today notably underperformed the Media & Entertainment sector by 1.42%, signalling relative weakness within its industry peer group.
The broader market environment has also been challenging. The Sensex opened flat but subsequently fell by 505.30 points, or 0.7%, closing at 82,989.19. This marked the index’s third consecutive weekly decline, with a cumulative loss of 3.23% over the past three weeks. Despite this, the Sensex remains within 3.82% of its 52-week high of 86,159.02, indicating that the broader market has not experienced a similar degree of weakness as Network 18’s stock.
Network 18’s share price is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — underscoring a sustained downtrend. This technical positioning reflects persistent selling pressure and a lack of short-term momentum.
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Financial Metrics and Fundamental Assessment
Network 18 Media & Investments Ltd’s financial profile continues to reflect challenges. The company’s long-term fundamental strength is rated weak, with a compounded annual growth rate (CAGR) of operating profits at -170.36% over the last five years. This steep decline in operating profitability highlights persistent difficulties in generating sustainable earnings from core business activities.
The company’s ability to service debt is also limited, as evidenced by a high Debt to EBITDA ratio of 657.87 times, indicating significant leverage relative to earnings before interest, taxes, depreciation, and amortisation. The debt-equity ratio at the half-year mark stands at 0.65 times, the highest recorded, signalling increased reliance on borrowed funds.
Profitability metrics remain subdued, with an average Return on Equity (ROE) of 8.49%, suggesting modest returns generated on shareholders’ funds. Additionally, non-operating income constitutes 90.99% of the company’s profit before tax (PBT) in the latest quarter, indicating that earnings are heavily reliant on sources outside the core business operations.
Recent Quarterly Results
The company reported flat results for the quarter ending December 2025, with net sales declining sharply by 60.36% to Rs.539.37 crores. This significant contraction in revenue further compounds concerns about the company’s growth trajectory and market competitiveness.
Despite the decline in sales, profits have risen by 109.5% over the past year, a divergence that may be attributed to non-operating income and cost management rather than core business expansion. The Price/Earnings to Growth (PEG) ratio stands at 1.7, reflecting a valuation that is somewhat elevated relative to earnings growth.
Comparative Performance and Market Position
Over the last year, Network 18’s stock has delivered a negative return of 30.16%, markedly underperforming the Sensex, which gained 8.33% over the same period. The stock has also lagged behind the broader BSE500 index across multiple time frames, including the last three years, one year, and three months, underscoring a pattern of below-par performance.
Institutional interest appears limited, with domestic mutual funds holding a mere 0.34% stake in the company. Given that mutual funds typically conduct thorough research before investing, this small holding may reflect reservations about the company’s valuation or business outlook.
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Mojo Score and Market Ratings
According to MarketsMOJO’s assessment, Network 18 Media & Investments Ltd holds a Mojo Score of 12.0 and has been assigned a Mojo Grade of Strong Sell as of 17 Oct 2024, an upgrade from the previous Sell rating. This grading reflects the company’s weak fundamentals, elevated risk profile, and underwhelming market performance. The Market Cap Grade is rated at 3, indicating a relatively modest market capitalisation compared to peers.
The stock’s risk profile is further highlighted by its trading at valuations that are considered risky relative to its historical averages. This elevated risk is compounded by the company’s financial metrics and recent price action.
Summary of Key Concerns
In summary, Network 18 Media & Investments Ltd’s stock has reached a 52-week low of Rs.39.21 amid a backdrop of declining revenues, weak profitability, high leverage, and limited institutional interest. The stock’s underperformance relative to the Sensex and its sector peers, combined with negative long-term growth trends and a challenging financial structure, have contributed to the current valuation levels.
While the broader market has experienced some volatility, Network 18’s decline has been more pronounced, reflecting company-specific factors that continue to weigh on investor sentiment and market valuation.
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