Raj Television Network Limited (RAJTV.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-511.6%

-₹30.25

vs ₹7.35 price

Levered DCF

₹6.72

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	216.67×	-20.96×	370×	178.41×	186.43×	1,261.81×	13,956.52×	34.13×
P/B	1.38×	3.57×	2.06×	1.42×	1.43×	1.18×	1.18×	1.3×
P/S	2.45×	3.5×	2.8×	2.4×	2.93×	2.12×	2.82×	2.96×
EV / EBITDA	46.64×	-24.13×	61×	35.53×	18.53×	15.44×	17.31×	16.1×
Gross margin	15.5%	-2.3%	10.0%	43.5%	51.4%	70.9%	76.0%	70.5%
Operating margin	4.7%	-4.4%	4.6%	4.8%	7.6%	7.7%	7.7%	11.7%
Net margin	1.1%	-16.7%	0.8%	1.3%	1.6%	0.2%	0.0%	8.7%
Current ratio	1.17×	1.12×	1.56×	1.26×	2.26×	1.78×	1.54×	1.98×
Debt / equity	0.17×	0.29×	0.16×	0.17×	0.21×	0.24×	0.25×	0.25×
Interest coverage	1.2×	-1.46×	1.93×	1.33×	1.24×	1.02×	1.01×	1.45×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.4%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	5263.3%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.6%	-17.0%	0.6%	0.8%	0.8%	0.1%	0.0%	3.8%
Return on invested capital	1.5%	-2.8%	1.9%	1.6%	2.4%	1.2%	0.1%	4.0%
Return on assets	0.5%	-11.1%	0.4%	0.6%	0.6%	0.1%	0.0%	2.8%
Free cash flow yield	0.0%	-1.2%	1.2%	3.4%	1.3%	5.1%	6.0%	6.6%
Earnings yield	0.5%	-4.8%	0.3%	0.6%	0.5%	0.1%	0.0%	2.9%
Enterprise value	₹1.9B	₹4.8B	₹3.2B	₹2.3B	₹2.3B	₹2B	₹2B	₹2.2B
Net debt / EBITDA	4.95×	-1.78×	3.88×	3.52×	2.24×	2.49×	2.85×	2.49×
Cash conversion cycle (days)	115	68	102	31	314	208	218	296