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Network18 Media & Investments Limited (NETWORK18) Fair Value & Analysis

Communication Services · IN · Market cap ₹47.2B

NM Network18 Media & Investments Limited NETWORK18 · BSE
Price₹29.85
Fair Value₹16.78
Upside-43.8%
Quality33/100
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Risks

!Trades 44% ABOVE our fair value of ₹16.78
!Weak Growth
!Loss over the last twelve months · -1.6% net margin · fiscal year 2025 7.2%
!Low debt · negative free cash flow
Weak Growth
Loss over the last twelve months · -1.6% net margin · fiscal year 2025 7.2%
Low debt · negative free cash flow
Mixed vs. peers (4/9)
Narrow moat 11/100
Evidence: Medium Range ₹12.59 – ₹20.98 Share as image

Fair value as of: Aug 22, 2026

From 9 valuation models · updated today

Share price +3.8% over the past month.

Below-average quality, and screening another 44% overvalued on our models.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹20.98). The favourable scenario is already priced in.
  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹130.81 ₹27.53 Fair Value ₹16.78 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range ₹27.53 – ₹130.81 · fair‑value band ₹12.59 – ₹20.98 · the ₹29.85 price screens above the ₹16.78 fair value. Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Network18 Media & Investments Limited (NETWORK18) currently trades at ₹29.85, while our model-based Fair Value estimate is ₹16.78, implying the stock looks roughly 43.8% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Network18 Media & Investments Limited generated revenue of ₹21.7B at a net margin of -1.6%. Revenue grew 10.3% year over year. It earns a return on equity of 3.2%. Net debt stands at ₹30.7B. Fundamentals as of Aug 22, 2026

Our scenario range runs from ₹12.59 (bear case) to ₹20.98 (bull case); at ₹29.85, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 49% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -43% fair-value upside, at -44%, NETWORK18 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth-Adj P/E ₹11.48 ₹16.40 ₹21.32 68
P/E Multiple ₹16.29 ₹21.72 ₹27.15 63
Residual Income ₹23.16 ₹22.49 ₹19.10 61
All 9 models by family
DCF Models
Owner Earnings ₹14.96 ₹20.73 ₹31.43 31
Earnings-Based
Graham-Dodd ₹6.71 ₹8.20 ₹9.23 54
Multiples
P/E Multiple ₹16.29 ₹21.72 ₹27.15 63
P/S Multiple ₹12.59 ₹16.78 ₹20.98 58
P/B Multiple ₹12.59 ₹16.78 ₹20.98 55
EV/EBITDA ₹2.80 ₹3.65 ₹4.50 54
Asset-Based
NCAV (Graham) ₹15.95 ₹21.37 ₹31.89 50
Economic Profit
Residual Income ₹23.16 ₹22.49 ₹19.10 61
Growth Earnings
Growth-Adj P/E ₹11.48 ₹16.40 ₹21.32 68

Widest divergence: Economic Profit (₹22.49) versus Earnings-Based (₹8.20). Highest evidence: Growth-Adj P/E (68).

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Key figures & financial health

Revenue (TTM) ₹21.7B
Revenue growth (YoY) +10.3%
Net margin -1.6%
Return on equity 3.2%
Free cash flow −₹795M FY2025
Operating margin -4.6%
More key figures
EPS (TTM) ₹-0.2300
Net debt ₹30.7B FY2025

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 34 · Market factors (momentum, volatility) 32

Profitability 26
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Network18 Media & Investments Limited operates as a media and entertainment company in India. The company engages in television, digital, filmed entertainment, print, and other allied businesses.

Full company description

Network18 Media & Investments Limited operates as a media and entertainment company in India. The company engages in television, digital, filmed entertainment, print, and other allied businesses. It operates business news channels, such as CNBC-TV18, CNBC Awaaz, and CNBC Bajar; general news channels, including CNN News18, News18 India, and News18 International; and regional news channels comprising News18 network. The company also operates Hindi general entertainment channels consisting of Colors, Colors Cineplex, Colors Rishtey, Rishtey Cineplex, MTV India, and MTV Beats; English entertainment channels, including VH1, Comedy Central, and Colors Infinity; and regional entertainment channels consisting of Colors Kannada, Colors Super, Kannada Cinema, Colors Bangla, Colors Marathi, Colors Gujarati, Colors Odiya, and Colors Tamil. In addition, it operates kids entertainment channels comprising Nickelodeon, Sonic, Nick Jr., and Nick HD+; factual entertainment and lifestyle channels, such as HistoryTV18; VOOT, a Viacom18's video-on-demand platform and JioCinema; filmed entertainment channels, such as Viacom18 Studio for Motion Pictures; and IndiaCast, a content asset monetization channel, as well as Tipping Point for digital content production. Further, the company operates digital content websites, including MoneyControl, News18.com, CNBCTV18.com, and Firstpost, as well as bookmyshow.com, an online ticketing platform; and TopperLearning, a premier K-12 content, delivery, and assessment service provider. Additionally, it publishes Forbes India, Overdrive, and Better Photography magazines; and produces films and TV shows. The company was formerly known as Network18 Fincap Private Limited and changed its name to Network18 Media & Investments Limited in December 2007. Network18 Media & Investments Limited was incorporated in 1996 and is based in Mumbai, India. Network18 Media & Investments Limited operates as a subsidiary of Reliance Industries Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Network18 Media & Investments Limited reported revenue of ₹21.2B in FY2025 versus ₹58.8B in FY2021, a compound −22.5%/yr. Reported net income was ₹1.5B in FY2025, compounding −7.5%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
₹21.2B
Latest YoY
−69.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−30.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−14.7%
Avg. growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.0%
Revenue −22.5%/yr
FY21 ₹58.8B
FY22 ₹62.2B
FY23 ₹93.0B
FY24 ₹68.9B
FY25 ₹21.2B
Net income −7.5%/yr
FY21 ₹2.1B
FY22 −₹843M
FY23 −₹2.1B
FY24 −₹16.9B
FY25 ₹1.5B

NETWORK18 screens 44% overvalued. Compare with Netflix, Inc →

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Cite: Fair Value Calculator (2026). "Network18 Media & Investments Limited Fair Value". https://www.fairvalue-calculator.com/stock/NETWORK18.BSE

Peer Group

Entertainment · 266 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 33 · Bottom 25%
Fair Value upside −44% · Below median
Return on equity (TTM) 3% · Above median
Return on assets -1% · Below median
Net margin (TTM) -2% · Below median
Operating margin (TTM) -5% · Below median
Revenue growth 10% · Above median

Valuation Multiples vs Entertainment median · lower = cheaper

P/S (TTM) 0.02× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 13
FUTURE52 · sector 9
PAST13 · sector 0
HEALTH100 · sector 98
DIVIDEND0 · sector 45

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Entertainment stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
Netflix, Inc ZNFL C$6.44 C$2.82 -56%
The Walt Disney Company DIS $103.50 $80.62 -22%
Warner Bros. Discovery, Inc WBD $27.65 $9.03 -67%
Empresas Cablevisión, S.A. CABLECPO 55.00 MXN 58.63 MXN +7%
PT MNC Digital Entertainment Tbk, MSIN 370.00 IDR 212.14 IDR -43%
Prime Focus Limited PFOCUS ₹268.00 ₹63.45 -76%
JYP Entertainment Corporation 035900 39,950 KRW 82,382 KRW +106%
SM Entertainment Co 041510 75,500 KRW 208,415 KRW +176%
PVR INOX Limited PVRINOX ₹1,176 ₹467.91 -60%
Saregama India Limited SAREGAMA ₹516.05 ₹214.51 -58%

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Frequently asked questions

Is Network18 Media & Investments Limited (NETWORK18) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of ₹16.78 versus a price of ₹29.85, about −44% (overvalued).
What is the fair value of NETWORK18?
Our model-based fair value for Network18 Media & Investments Limited is ₹16.78 (as of Aug 22, 2026), built from audited fundamentals. The current price: ₹29.85.
What is the quality score of NETWORK18?
Network18 Media & Investments Limited has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Network18 Media & Investments Limited (NETWORK18)?
Network18 Media & Investments Limited reported trailing-twelve-month revenue of about ₹21.7B (latest available figure, as of Aug 22, 2026).
What is the net profit margin of NETWORK18?
The net profit margin of Network18 Media & Investments Limited is about -1.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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