Radiowalla Network Ltd. (RADIOWALLA)
SME CapMedia stocks · SME cap · NSE
Radiowalla Network Ltd. is a B2B media tech company offering customer engagement solutions through in-store radio, corporate radio, digital signage, audio advertising, and Digital Out of Home (DOOH) services. It uses curated content, AI-driven music, and visual media to enhance customer experience and internal communication for brands.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust needs verification, price trend argues for patience, and recent execution is weak.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Sept 2025
Bad · 0/100PAT -58% YoY · margin compression · Rev +36% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹10.1 Cr | +36.3% | -6.9% |
| EBITDA | ₹0.7 Cr | NDF | -19.6% |
| Operating margin | 7.3% | NDF | -115 bps |
| PAT | ₹0.4 Cr | -57.9% | +17.6% |
| PAT margin | 4.0% | NDF | +83 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
H2 FY26 consolidated revenue from operations was ₹1,031.45 Lakhs, with an EBITDA of ₹(10.38) Lakhs and Net Profit of ₹(26.64) Lakhs. For FY26, consolidated revenue was ₹2,037.95 Lakhs, EBITDA ₹64.09 Lakhs, and Net Profit ₹13.22 Lakhs.
The company's H2 FY26 performance shows significant stress with negative EBITDA and Net Profit, attributed by management to a slowdown in advertising spend due to geopolitical reasons. While FY26 remained profitable, the sequential deterioration raises concerns about near-term momentum and execution.
In-Store Radio Segment Growth
The In-Store Radio segment is expected to witness robust growth driven by increased client volumes and planned international expansion.
Digital Signage Adoption
With rising adoption of digital signage across industries, the company targets 5,000+ screens under content management over the next few years.
Advertising Revenues
Advertising revenues are set for exponential growth, supported by mainstreaming of Audio Out-of-Home (OOH) and strong Digital OOH (DOOH) network.
International Expansion
Expanded into UAE and North America through wholly owned subsidiaries and strengthened African presence. Plans to establish a subsidiary in Dubai.
In-Store Radio Network Expansion
3,000+ new stores added to the In-Store Radio Network in the last 12 months. Expanded presence to Botswana, Namibia, and Zambia.
Digital Signage Screens Added
19 clients and 500+ screens added for Digital Signage in FY26. Strong pipeline of 1000+ additional screens.
Corporate Radio Footprint
Expanded Corporate Radio footprint to Mexico and Brazil, operating 5 channels in India and 1 each in Mexico and Brazil.
Increased Client Volumes
The In-Store Radio segment is expected to witness robust growth driven by increased client volumes.
Rising Digital Signage Adoption
Rising adoption of digital signage across industries supports the company's target of 5,000+ screens under content management.
Mainstreaming of Audio OOH
Advertising revenues are set for exponential growth, supported by the mainstreaming of Audio Out-of-Home (OOH).
Currency Depreciation Benefit
Additional margin expansion for Corporate Radio due to currency depreciation.
Advertising Spend Slowdown
Experienced a slowdown in advertising spend in H2 FY26 due to current geopolitical reasons.
Retail Sector Dependency
Heavy dependency on the retail sector for revenue.
Increasing Competition
Increasing competition may lead to pricing pressures.
Technological Investment Needs
Ongoing investments needed to keep up with technological advancements and rapid technological changes.
Economic Uncertainty
Economic uncertainty affecting client budgets.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The provided financial statements offer direct year-over-year comparisons for both H2 and full-year periods, which is crucial for assessing performance trends in a business that may have seasonal advertising cycles.
Stores Connected
33,000+ stores connected across the network.
Footfalls Across Network
1 Billion + footfalls across the network.
Screens Under CMS
1,100+ screens under Content Management System (CMS).
Digital Hoardings
15 digital hoardings (12 in Gujarat, 3 in Uttar Pradesh).
FY26 as Strategic Building Year
FY26 was a strategic building year focused on expanding international presence, strengthening partnerships, and enhancing retail media capabilities.
Confidence in Regaining Momentum
Management is confident of regaining momentum in FY27 after the H2 slowdown in advertising spend.
Focus on Prudent Scaling
With strategic foundations in place, the company remains focused on scaling the business prudently and unlocking long-term growth opportunities.
AI Integration and Expansion
Expanding its AI-generated music library to deliver more personalized audio experiences and continued investments for integrating AI in different aspects of business.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Advertising Spend Momentum | Slowdown in H2 FY26 due to geopolitical reasons. | Evidence of regaining momentum in advertising spend in FY27 as projected by management. |
| Digital Signage Screen Count | 1,100+ screens under CMS, 500+ screens added in FY26. | Progress towards the target of 5,000+ screens under content management over the next few years. |
| International Expansion | Presence in 12 countries, expanded into UAE, North America, and new African markets. | Successful establishment and ramp-up of the planned subsidiary in Dubai and further international market penetration. |
| DOOH Profit Margins | Operating 15 large digital hoardings. | Improvement in profit margins with increasing ad volumes and better realization from the existing DOOH network. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
42NeutralMACD + · near 52W low
Technical chart
RADIOWALLAdaily · 1Y · AUTO-40.2%Daily technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 55.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 55 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 60% off 52W high · 29% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 17 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 17 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Balance sheet contributes 9/15 to the score.
- Growth contributes 8/25 to the score.
- Cash flow contributes 3/10 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Fair-value margin of safety is negative at -1194.2%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: -1 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 20th percentile of the scored universe and 34th percentile within Media. Main check: financial discipline is weak at 18/100.
Mixed Trust Lite: Promoter pledge is zero. Key concern: Operating cash flow is negative at ₹-1 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Media: 34th pctile, median 62 · SME: 21st pctile, median 64
11 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸4 years of positive FCF.
- ▸Debt/equity is 0.07.
Trust risks
- ▸Operating cash flow is negative at ₹-1 Cr.
- ▸ROCE is low at 1.9%.
- ▸ROE is low at 0.7%.
- ▸ROCE trend is -26.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 156.00
- P/B
- 1.04
- EV/EBITDA
- 14.10
- Market Cap
- 20.20Cr
Profitability
- ROE
- 0.68%
- ROCE
- 1.87%
- ROA
- 0.50%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 28.00%
- EPS 5Y
- 5.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- -50.00%
Balance Sheet
- Debt/Equity
- 0.07
- Interest Coverage
- 4.00×
- Altman Z
- 3.73
- Book Value
- 27.70
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- -0.94 Cr
- EPS TTM
- 0.18
Shareholding
- Promoter Hold
- 41.54%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 13%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
Business-comparable names in Media, ranked by similarity
Peers
Business-comparable peers in Media — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.