Annual reportSep 2026
Sep 2026 · General Updates 4 Sep - 16th AGM notice and FY 2025-26 annual report dispatched; AGM scheduled for 30 September 2026.
Source: Nse
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.
₹25.45
-0.50 · -1.93%
Market cap ₹19.8 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:15 pm ISTDetails
Quote19 Oct, 03:15 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result26 Apr, 11:27 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Media P/E 15.0 (n=57)
Technical timing lens
Trend score and candlestick chart
57Neutralfull bear SMA stack · MACD − · near 52W low · sector +12.7pp vs Nifty 500 (3M)
Stock trend: 28
Sector RS: 100
Sector 3M: +7.1% vs Nifty 500 -5.6%
Media FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
RADIOWALLAD candles · FIT view-29.7%Latest close ₹25.45 on 2026-10-19
Bar
+0.0%
RSI
40
MACD hist
-0.31
52W pos
7%
2026-10-19O ₹25.45H ₹25.45L ₹25.45C ₹25.45Vol 3,200 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
RADIOWALLANifty MediaNifty 500
- RADIOWALLA
- -13.4%
- Nifty 500
- -5.6%
- Nifty Media
- +7.0%
- Vs Nifty 500
- -7.9 pp
Chart stats
19 Oct 2026- From 52W high
- -64.7%
- 52W range position
- 7%
- ATR (14)
- 3.0%
- Volume vs 20D
- 0.63x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹24 - ₹29.7
₹72
₹22.2 - ₹72
₹0.8
Latest completed session
20-session average
51.3% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED15
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +36.3% · PAT -57.9% YoY
Technical
Neutral57
Price trend and sector-relative-strength timing.
Valuation
Legacy model-1047.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence57
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2025
Bad · 0/100PAT -58% YoY · margin compression · Rev +36% YoY
Filed 30 Sept 2025
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹10.1 Cr | +36.3% | -6.9% |
| EBITDA | ₹0.7 Cr | NDF | NDF |
| Operating margin | 7.3% | NDF | NDF |
| PAT | ₹0.4 Cr | -57.9% | +17.6% |
| PAT margin | 4.0% | NDF | NDF |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 152.00
- P/B
- 1.02
- EV/EBITDA
- 13.13
- Market Cap
- 19.80Cr
Profitability
- ROE
- 0.68%
- ROCE
- 2.20%
- ROA
- 0.56%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 28.00%
- EPS 5Y
- 5.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- -50.00%
Balance Sheet
- Debt/Equity
- 0.06
- Interest Coverage
- 3.09×
- Altman Z
- 5.28
- Book Value
- 27.50
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
- 12%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 10.1-6.9% vs prev
Net Profit
₹ CrLatest: 0.4+17.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend unclear. RSI 40.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 40 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 65% off 52W high · 15% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
6
RS percentile
Stage 4 Downtrend
1M return
-6.9%
3M return
+3.9%
6M return
-36.1%
1Y return
-61.4%
RS 1D
+1
RS 20D
+4
Sector rank
#15
Industry rank
#64
Stage evidence
- Price is 21.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -11.6%.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
209 observations
19 Oct 2026Value 42.92-1.31%
RS vs Nifty 50043
Valuation & peers
U-Score 15 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 15 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation1/30
Growth8/25
Quality0/20
Balance Sheet7/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
-7
Raw sum
15
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
15/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 7/15 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 -1047.7%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
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.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
152.0
PB
1.0
EV/EBITDA
13.1
ROE
0.7%
ROCE
2.2%
FCF Yield
—
Debt/Equity
0.1
MoS
-1047.7%
Score movement
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.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
15
Previous: 16 (-1)
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-1047.7%
Previous: -1047.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
16
16
16
16
16
16
16
16
16
16
16
16
Factor attribution
Balance sheet
7-1
was 8
Modelled fair value
Graham Number
₹10.55
-141.2% MoS
Growth-justified P/E
12.3
Growth-justified Value
₹2.22
-1047.7% MoS
PEG
30.40
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DNAMEDIA
Small
Diligent Media Corporation Limited
Media & Entertainment
match 126
14
—
—
—
OVERVALUED
CUDML
SME
Cash Ur Drive Marketing Ltd.
Media & Entertainment
match 116
42
6.0
19.7%
+25%
WATCHLIST
PELATRO
SME
Pelatro Ltd.
Media & Entertainment
match 116
45
19.5
21.4%
+7%
WATCHLIST
DGCONTENT
Small
Digicontent Limited
Media & Entertainment
match 111
34
8.5
11.6%
-408%
WATCHLIST
HTMEDIA
Small
HT Media Limited
Media & Entertainment
match 109
56
4.2
0.9%
+81%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-21T12:41:33.918Z
Management commentary snapshot
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.
Growth engines
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.
Capacity and execution
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.
Tailwinds
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.
Headwinds
Advertising Spend Slowdown
Experienced a slowdown in advertising spend in H2 FY26 due to current geopolitical reasons.
Risk radar
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
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
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.
Sector KPIs management disclosed
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).
Management forward view
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.
Thesis monitor
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.
Trust Score
57Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: 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.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
11 docs text-extracted · 5 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
20th percentile
overall median 67 · Media: 34th pctile, median 63 · SME: 21st pctile, median 64
Evidence depth
Financial-only
11 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read 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.
Promoter
78
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
18
weak · capital discipline
Results
48
watch · quarterly consistency
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.
Continue researching Radiowalla Network Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Shareholders meeting 4 Sep - FY2025-26 annual report filed; 16th AGM on 30 September 2026, with remuneration approvals.
Source: Nse
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Nse
Investor presentationSep 2025
Sep 2025 · PPT
Source: Nse
Investor presentationSep 2025
Sep 2025 · PPT
Source: Nse
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.