Sun TV Network Ltd

Sun TV Network Ltd

₹ 769 -0.72%
04 Dec 1:47 p.m.
About

Sun TV Network was established in 1985 as Sumangali Publications Private Limited and was later renamed as Sun TV Network Limited. Sun TV, the flagship channel of the company, was started in 1993. STNL is primarily involved in television broadcasting. Besides, it produces/distributes movies under the banner Sun Pictures[1]

Key Points

Business[1]
Company is one of the largest Television Broadcasters in India operating Satellite Television Channels across six languages of Tamil, Telugu, Kannada, Malayalam, Marathi and Bangla and presently airing FM radio. The Company produces its own content / acquires the related rights. The Company is the owner of IPL franchise “SunRisers Hyderabad” & SunRisers Eastern Cape Cricket South Africa’s T20 League, and also opened a branch office in South Africa. The Company also operates an OTT platform “SUNNXT“

  • Market Cap 30,297 Cr.
  • Current Price 769
  • High / Low 922 / 568
  • Stock P/E 17.0
  • Book Value 282
  • Dividend Yield 2.19 %
  • ROCE 26.0 %
  • ROE 19.2 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 34.5%
  • Company's working capital requirements have reduced from 89.9 days to 70.1 days

Cons

  • The company has delivered a poor sales growth of 2.52% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
829 1,033 833 1,194 796 858 814 1,318 1,018 885 927 1,276 900
308 311 280 430 272 284 326 531 302 312 419 570 371
Operating Profit 521 722 553 764 525 573 488 786 716 574 509 706 529
OPM % 63% 70% 66% 64% 66% 67% 60% 60% 70% 65% 55% 55% 59%
66 42 54 101 86 94 81 116 107 129 130 140 164
Interest 24 1 3 1 1 1 1 2 1 1 1 1 3
Depreciation 35 153 65 208 75 109 75 85 214 111 104 109 191
Profit before tax 528 610 539 655 534 557 492 815 608 591 534 736 498
Tax % 25% 25% 25% 25% 25% 25% 26% 28% 25% 26% 25% 26% 20%
393 457 404 492 401 416 366 583 456 437 399 547 398
EPS in Rs 9.98 11.61 10.26 12.48 10.17 10.56 9.28 14.79 11.58 11.10 10.12 13.88 10.10
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,818 2,097 2,244 2,395 2,558 2,862 3,663 3,404 3,117 3,505 3,661 4,148 3,989
441 635 629 1,211 820 903 1,099 1,168 1,049 1,241 1,312 1,563 1,671
Operating Profit 1,377 1,462 1,614 1,185 1,739 1,959 2,564 2,236 2,068 2,264 2,349 2,585 2,318
OPM % 76% 70% 72% 49% 68% 68% 70% 66% 66% 65% 64% 62% 58%
55 79 88 637 144 140 220 249 271 245 362 482 564
Interest 5 3 2 2 1 1 2 8 22 29 5 5 6
Depreciation 413 453 588 485 391 440 647 679 382 287 468 514 515
Profit before tax 1,014 1,085 1,112 1,334 1,490 1,658 2,136 1,798 1,935 2,193 2,238 2,549 2,360
Tax % 33% 34% 34% 35% 34% 34% 35% 24% 21% 25% 25% 26%
683 717 737 870 979 1,093 1,395 1,372 1,520 1,645 1,675 1,875 1,781
EPS in Rs 17.34 18.19 18.71 22.07 24.85 27.74 35.39 34.81 38.58 41.74 42.49 47.58 45.20
Dividend Payout % 55% 52% 60% 70% 40% 36% 21% 72% 13% 33% 35% 35%
Compounded Sales Growth
10 Years: 7%
5 Years: 3%
3 Years: 10%
TTM: 0%
Compounded Profit Growth
10 Years: 10%
5 Years: 7%
3 Years: 9%
TTM: -2%
Stock Price CAGR
10 Years: 8%
5 Years: 11%
3 Years: 14%
1 Year: 17%
Return on Equity
10 Years: 22%
5 Years: 21%
3 Years: 20%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 197 197 197 197 197 197 197 197 197 197 197 197 197
Reserves 2,696 2,975 3,183 3,321 3,825 4,443 5,243 5,427 6,752 7,856 8,941 10,156 10,904
0 0 0 0 0 0 0 0 41 58 32 8 100
301 307 211 265 328 550 629 693 788 622 785 815 684
Total Liabilities 3,194 3,479 3,591 3,782 4,350 5,190 6,069 6,317 7,778 8,733 9,955 11,176 11,885
1,222 1,242 1,074 820 1,102 1,039 936 946 768 1,633 1,591 1,585 1,662
CWIP 0 0 0 1 1 46 13 66 146 244 131 145 2
Investments 468 677 694 864 1,454 2,412 3,050 2,949 3,764 3,857 5,631 7,075 8,046
1,503 1,560 1,823 2,098 1,792 1,693 2,070 2,355 3,100 3,000 2,602 2,372 2,176
Total Assets 3,194 3,479 3,591 3,782 4,350 5,190 6,069 6,317 7,778 8,733 9,955 11,176 11,885

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
836 1,158 1,141 1,256 1,301 1,344 1,777 1,610 1,444 1,614 2,057 2,137
-440 -751 -499 -359 -724 -1,265 -1,065 -366 -1,142 -1,009 -1,524 -1,288
-382 -431 -635 -737 -475 -475 -596 -1,217 -243 -596 -621 -692
Net Cash Flow 13 -24 7 160 102 -397 116 28 59 9 -89 158

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 107 99 111 112 103 129 108 140 163 148 143 107
Inventory Days
Days Payable
Cash Conversion Cycle 107 99 111 112 103 129 108 140 163 148 143 107
Working Capital Days 93 86 114 137 87 85 77 104 104 109 91 70
ROCE % 37% 36% 34% 31% 39% 38% 41% 30% 30% 28% 25% 26%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
8.95% 9.21% 9.32% 9.79% 10.44% 10.56% 10.39% 10.57% 9.01% 8.87% 7.89% 7.23%
2.92% 4.18% 4.73% 3.94% 3.79% 3.61% 3.67% 4.47% 6.59% 6.50% 8.23% 10.00%
13.13% 11.61% 10.95% 11.27% 10.77% 10.83% 10.95% 9.96% 9.40% 9.62% 8.89% 7.77%
No. of Shareholders 1,07,4761,13,4781,23,0551,16,2781,16,1431,19,9711,19,04499,89595,3621,00,8031,01,5171,10,021

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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