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RAJTV - Raj Television

📊 NSE: RAJTV 🏢 Entertainment / Electronic Media Software 📅 Last Updated: 12/14/2025 11:31

📢 Recent Corporate Announcements

Raj TV Q3 Net Profit Drops to ₹0.05 Cr; Revenue Declines 61% YoY to ₹16.39 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 11 Feb 2026, 05:04 PM

Raj Television Network reported a sharp 61.6% year-on-year decline in revenue for Q3 FY26, falling to ₹16.39 Cr from ₹42.72 Cr. Net profit for the quarter was marginal at ₹0.05 Cr, down from ₹0.27 Cr in the previous year's corresponding quarter. While the company showed a slight 4% sequential revenue growth from Q2 FY26, the bottom line remains under pressure with very thin margins. Notably, the company has turned around its nine-month performance, posting a profit of ₹0.57 Cr compared to a heavy loss of ₹16.53 Cr in 9M FY25.

Revenue from operations plummeted 61.6% YoY to ₹16.39 Cr in Q3 FY26 from ₹42.72 Cr.
Net profit for the quarter stood at ₹0.05 Cr, a significant drop from ₹0.27 Cr YoY and ₹0.17 Cr QoQ.
Total expenses for the quarter were ₹16.31 Cr, resulting in a razor-thin profit before tax of ₹0.08 Cr.
9M FY26 shows a turnaround with a net profit of ₹0.57 Cr vs a loss of ₹16.53 Cr in 9M FY25.
Earnings per share (EPS) for the quarter remained negligible at ₹0.01.

💡 The massive drop in revenue scale is a major concern, despite the company remaining technically profitable. Investors should exercise caution and wait for signs of revenue stabilization and margin improvement before considering fresh positions.

Raj Television Downgraded to 'IND D' (Default) Following Debt Servicing Delays

🔴 NEGATIVE ⭐ 9/10

REGULATORY 📅 24 Jan 2026, 03:25 PM

India Ratings and Research has downgraded Raj Television Network Limited's bank loan facilities to 'IND D' from 'IND BB' due to delays in debt servicing during November 2025. The company is facing severe liquidity constraints, evidenced by a shift from an EBITDA profit of INR 48.45 million in FY24 to a loss of INR 196.99 million in FY25. The downgrade affects INR 222 million in bank facilities, including working capital and term loans. The company's interest coverage ratio has deteriorated to -5.21x, indicating an inability to meet interest obligations from operating profits.

Credit rating downgraded to 'IND D' (Default) for INR 222 million bank loan facilities.
Company reported delays in term loan repayments in November 2025 due to liquidity issues.
FY25 EBITDA margin crashed to -15.66% from 4.55% in the previous fiscal year.
Interest coverage ratio stands at -5.21x, reflecting severe financial distress.
Liquidity position is officially classified as 'Poor' by India Ratings.

💡 A default rating is a critical red flag; investors should consider exiting or avoiding the stock as the company struggles with insolvency risks. Monitor for any potential debt restructuring plans or a minimum of three months of timely debt servicing for a potential rating upgrade.

Raj Television Network Submits SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 03:33 PM

Raj Television Network Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The certificate, issued by Registrar and Transfer Agent Cameo Corporate Services Limited, confirms that dematerialization requests were processed within stipulated timelines. It ensures that physical certificates were mutilated and cancelled, and the depositories' names were updated in the register of members. This is a standard procedural filing required for all listed companies in India.

Compliance certificate submitted for the quarter ended December 31, 2025.
Registrar Cameo Corporate Services confirmed processing of all dematerialization requests.
Physical security certificates were mutilated and cancelled after due verification.
Confirmation that securities are listed on BSE (532826) and NSE (RAJTV).

💡 No action is required as this is a routine regulatory filing. Investors should focus on upcoming financial results for more significant price-moving information.

Raj Television Network to Close Trading Window from Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Dec 2025, 12:41 PM

Raj Television Network Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the unaudited financial results for the quarter ending December 31, 2025. The restriction applies to all promoters, directors, and designated persons of the company. The trading window will reopen 48 hours after the financial results are officially declared to the exchanges.

Trading window closure starts from January 1, 2026.
Closure pertains to the review of financial results for the quarter ended December 31, 2025.
Restriction applies to all insiders, including promoters and directors.
Window will remain closed until 48 hours after the results announcement.

💡 This is a standard regulatory procedure and does not impact the company's fundamentals. Investors should monitor for the upcoming board meeting date when Q3 results will be discussed.

Raj TV Executes Agreement to Sell Hyderabad Property for Rs 22 Crore

🟢 POSITIVE ⭐ 6/10

OTHER 📅 18 Dec 2025, 03:32 PM

Raj Television Network has signed an agreement to sell its non-core property in Jubilee Hills, Hyderabad, for a total consideration of Rs 22 crore. The company has already received an initial payment of Rs 3 crore and expects the transaction to be completed by June 30, 2026. Since the property contributed zero revenue in the last financial year, this sale represents a strategic monetization of idle assets. The resulting cash inflow is expected to significantly improve the company's liquidity position.

Total sale consideration for the Hyderabad property is fixed at Rs 22,00,00,000
Initial payment of Rs 3 crore received upon execution, with Rs 1 crore due via cheque in January 2026
Balance consideration of Rs 18 crore to be received by the completion date of June 30, 2026
The property had zero contribution to the company's turnover or income in the previous financial year

💡 This is a positive liquidity event as it monetizes a non-performing asset. Investors should monitor the final execution of the sale deed and how the management intends to utilize the Rs 22 crore proceeds.

RAJTV: Postal Ballot Results - Independent Directors Appointed

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 06 Dec 2025, 10:44 PM

Raj Television Network Limited announced the results of its postal ballot, with shareholders approving the appointment of Mr. Pechimuthu Udayakumar and Mr. Krishna Singh Balaji Singh as Non-Executive Independent Directors. Both appointments were approved via special resolution. For Mr. Pechimuthu Udayakumar, 48,446,037 votes were in favor, representing 99.9995% of valid votes cast, while 238 votes were against. Similarly, for Mr. Krishna Singh Balaji Singh, 48,446,007 votes were in favor (99.9994%) and 268 votes were against.

Appointment of Mr. Pechimuthu Udayakumar approved with 48,446,037 votes in favor.
Appointment of Mr. Krishna Singh Balaji Singh approved with 48,446,007 votes in favor.
Total of 51,913,344 shares eligible for voting.
93.3214% of outstanding shares were polled.
E-voting event number is 251031006.

💡 Investors should note the appointment of the new independent directors and monitor their contributions to the company's governance and strategic direction. No immediate action is required.

View All RAJTV Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment, Media and Entertainment, which saw revenue grow by 18.19% YoY to INR 125.82 Cr in FY 2024-25 from INR 106.46 Cr in FY 2023-24. However, quarterly revenue for Q2 FY26 (INR 15.76 Cr) showed a significant decline compared to Q2 FY25 (INR 35.93 Cr).

Geographic Revenue Split

The company maintains a dominant market share in the five southern states of India (Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, and Telangana). Internationally, it has a footprint across 172 countries including regions like USA, Europe, MENAP, Africa, and APAC.

Profitability Margins

Profitability deteriorated significantly with the company reporting a net loss of INR 21.01 Cr in FY 2024-25 compared to a profit of INR 0.81 Cr in FY 2023-24. Net Profit Margin crashed by 2297.37% to -16.70%, while Operating Profit Margin contracted by 68.29% to 8.51% due to higher production and finance costs.

EBITDA Margin

EBITDA margin was 4.55% in FY 2023-24, a 32.4% decrease from 6.73% in the previous year. This margin contraction was driven by rising production costs, employee expenses, and other operational overheads partially offset by revenue growth.

Capital Expenditure

The company maintains an authorized capital of INR 30 Cr and a paid-up equity share capital of INR 25.96 Cr. Specific planned capital expenditure for future capacity was not disclosed in the available documents.

Credit Rating & Borrowing

India Ratings downgraded the company's fund-based working capital limits to IND BB/Stable and affirmed short-term ratings at IND A4+. Brickwork Ratings reaffirmed and subsequently withdrew its BWR BB+/Stable rating for bank loan facilities totaling INR 22.74 Cr.

⚙️ Operational Drivers

Raw Materials

The primary 'raw materials' are content production costs (fiction/reality shows) and artistic talent acquisition, which are critical for maintaining the 100,000+ hour content library. Specific cost percentages per category were not disclosed.

Import Sources

Content is sourced through a mix of self-produced in-house studio projects and outsourced productions from creative partners across India.

Capacity Expansion

The company currently operates 14 television channels in five languages (Tamil, Telugu, Kannada, Malayalam, and Hindi). Future expansion plans for additional channels were not specified.

Raw Material Costs

Production costs increased during FY 2024-25, contributing to the EBITDA margin decline from 6.73% to 4.55%. The company uses a strategy of self-producing content to build its own intellectual property base and mitigate financial risk.

Manufacturing Efficiency

Not applicable to broadcasting operations; however, the company focuses on delivering engaging content at a competitive cost through its in-house TV studio and movie production ecosystem.

Logistics & Distribution

Distribution revenue is a key stream, but specific distribution costs as a percentage of revenue were not disclosed.

📈 Strategic Growth

Growth Strategy

Growth is targeted through the development of new distribution channels in their nascent stages and leveraging the 100,000+ hour content library. The company aims to maintain leadership in the southern Indian market while expanding its global footprint across 172 countries to attract a wider advertising base.

Products & Services

14 Satellite Television Channels, movie production, music label, and digital content rights.

Brand Portfolio

RAJTV (flagship), Raj Video Vision, and various regional channels in Tamil, Telugu, Kannada, Malayalam, and Hindi.

New Products/Services

The company is increasingly integrating AI to safeguard data integrity and mitigate emerging threats, though specific revenue contribution from new digital services was not disclosed.

Market Expansion

Targeting global diaspora in 172 countries and leveraging nascent distribution channels for digital growth.

Market Share & Ranking

Holds a dominant market share in the five southern states of India.

Strategic Alliances

Maintains long-standing partnerships with the artist fraternity and creative partners for content production.

🌍 External Factors

Industry Trends

The television segment is evolving with the rise of new distribution channels and increasing interest from global investors. Viewership and advertising expenditure are rising, but the industry faces threats from rapid de-regulation and technological shifts.

Competitive Landscape

Operates in an intensely competitive industry with significant pressure from other regional and national broadcasters for content and talent acquisition.

Competitive Moat

The company's moat is built on its 100,000+ hour content library and its established leadership in the South Indian regional market, which provides high audience shares and pricing power.

Macro Economic Sensitivity

Revenues are sensitive to fluctuations in advertising expenditure and viewer preferences, which are influenced by broader economic conditions in the media and entertainment sector.

Consumer Behavior

Viewer preferences are shifting toward diverse formats including fiction, reality shows, and digital content, requiring constant content refreshment.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Telecom Regulatory Authority of India (TRAI) and the Ministry of Information and Broadcasting (MIB), requiring proactive alignment with evolving distribution and content censorship norms.

Legal Contingencies

NSE and BSE levied fines for 'Non-Compliance' with Regulation 17(1) of SEBI LODR due to pending government/regulator approvals for the appointment of Directors and Key Managerial Personnel.

⚠️ Risk Analysis

Key Uncertainties

Fluctuations in subscription and advertising income, which are the major revenue sources. The company noted that results could fall below market expectations due to the unpredictable nature of viewer preferences.