Crystal Business System Ltd

₹ 2.13 -3.18%

20 Aug 2:55 p.m.

About

Incorporated in 1994, Sadhna Broadcast Ltd is in the business of broadcasting television channels, news, film, music, serials, etc.^[1]

Key Points

Business Overview:^[1]
Company is in the business of television channels, news, films, music, serial, and others programs and being a feature agency on a worldwide network having stringers, special correspondence, and representatives at different centers and other allied activities

Services Offered:^[2]
a) Television Media: Company telecasts India's foremost socio-spiritual TV channel viz. Sadhna TV. This satellite channel brings social and spiritual leaders on a single platform, catering to contemporary and traditional viewers. Apart from this, company has added bouquet of channels in various genres of News, Entertainment and Movies
b) Advertising:
Company is a premier outdoor and print advertising house for advertising on various platforms such as outdoor hoardings, bus shelters, pole kiosks and roadways buses in Delhi NCR and other parts of the country. Various State and Central Government Departments and private organizations are using company's media for their publicity campaigns
c) Publication:
Sadhna Path is an exclusive Hindi monthly, equipped to set guidelines on various socio-cultural aspects, health related issues, and astrological studies
d) Technology:
Company provides broadcast equipment and technology integration through Outdoor Broadcast vans, portable Live uplink and downlink devices, procurement of cost-effective equipment, broadcast software solution, studio setups and media office infrastructure

Website BSE

Market Cap ₹ 21.4 Cr.
Current Price ₹ 2.13
High / Low ₹ 3.82 / 1.98
Stock P/E 107
Book Value ₹ 1.52
Dividend Yield 0.00 %
ROCE 8.71 %
ROE 6.01 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -13.0% over past five years.
Promoter holding is low: 25.5%
Company has a low return on equity of 2.22% over last 3 years.
Earnings include an other income of Rs.0.49 Cr.
Promoter holding has decreased over last 3 years: -15.5%
Working capital days have increased from 94.9 days to 153 days

* 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.

Peer comparison

Consumer Discretionary Media, Entertainment & Publication Entertainment TV Broadcasting & Software Production

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	3.65	1.91	5.47	12.85	4.05	5.44	2.04	3.88	2.87	3.91	3.98	6.46	1.60
	3.18	2.68	6.00	8.06	3.78	4.03	3.75	3.01	2.67	2.97	2.11	7.92	2.23
Operating Profit	0.47	-0.77	-0.53	4.79	0.27	1.41	-1.71	0.87	0.20	0.94	1.87	-1.46	-0.63
OPM %	12.88%	-40.31%	-9.69%	37.28%	6.67%	25.92%	-83.82%	22.42%	6.97%	24.04%	46.98%	-22.60%	-39.38%
	0.10	0.40	0.06	0.73	0.00	-0.01	0.02	0.06	0.00	0.15	0.10	0.13	0.11
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.03	0.04	0.05	0.03
Depreciation	0.10	0.12	0.12	0.15	0.09	0.09	0.10	0.13	0.11	0.11	0.11	0.12	0.09
Profit before tax	0.47	-0.49	-0.59	5.37	0.18	1.31	-1.79	0.79	0.09	0.95	1.82	-1.50	-0.64
Tax %	25.53%	8.16%	-3.39%	-8.57%	22.22%	25.19%	0.00%	-29.11%	22.22%	25.26%	24.18%	-16.00%	0.00%
	0.35	-0.54	-0.57	5.83	0.13	0.98	-1.79	1.01	0.07	0.71	1.39	-1.27	-0.63
EPS in Rs	0.03	-0.05	-0.06	0.58	0.01	0.10	-0.18	0.10	0.01	0.07	0.14	-0.13	-0.06
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	2.50	23.41	24.25	36.13	55.23	55.41	34.53	22.48	23.89	18.94	15.41	17.22	15.95
	2.45	22.92	23.74	35.25	53.47	53.26	32.86	22.20	24.24	19.12	14.59	15.66	15.23
Operating Profit	0.05	0.49	0.51	0.88	1.76	2.15	1.67	0.28	-0.35	-0.18	0.82	1.56	0.72
OPM %	2.00%	2.09%	2.10%	2.44%	3.19%	3.88%	4.84%	1.25%	-1.47%	-0.95%	5.32%	9.06%	4.51%
	0.00	0.00	0.07	0.04	0.00	0.00	0.03	0.02	1.19	0.88	0.08	0.39	0.49
Interest	0.00	0.00	0.00	0.01	0.04	0.02	0.02	0.02	0.00	0.00	0.01	0.13	0.15
Depreciation	0.00	0.00	0.01	0.03	0.05	0.21	0.47	0.41	0.47	0.46	0.42	0.46	0.43
Profit before tax	0.05	0.49	0.57	0.88	1.67	1.92	1.21	-0.13	0.37	0.24	0.47	1.36	0.63
Tax %	40.00%	30.61%	31.58%	34.09%	34.13%	27.08%	28.10%	-15.38%	16.22%	150.00%	29.79%	33.09%
	0.04	0.34	0.39	0.59	1.10	1.40	0.88	-0.11	0.31	-0.12	0.34	0.91	0.20
EPS in Rs					0.11	0.14	0.09	-0.01	0.03	-0.01	0.03	0.09	0.02
Dividend Payout %	0.00%	0.00%	2.50%	0.00%	22.80%	1.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-3%
5 Years:	-13%
3 Years:	-10%
TTM:	12%

Compounded Profit Growth
10 Years:	10%
5 Years:	1%
3 Years:	38%
TTM:	-33%

Stock Price CAGR
10 Years:	%
5 Years:	17%
3 Years:	-57%
1 Year:	-40%

Return on Equity
10 Years:	4%
5 Years:	2%
3 Years:	2%
Last Year:	6%

Balance Sheet

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.25	3.25	9.75	10.03	10.03	10.03	10.03	10.03	10.03	10.03	10.03	10.03
Reserves	0.00	0.34	0.99	1.30	2.09	3.46	4.32	4.21	4.52	4.15	4.99	5.21
	0.00	0.00	1.00	1.96	4.06	6.11	2.50	3.09	5.25	3.20	2.49	1.48
	1.06	13.15	10.40	20.46	13.15	20.14	11.64	8.48	8.86	9.47	7.99	7.87
Total Liabilities	4.31	16.74	22.14	33.75	29.33	39.74	28.49	25.81	28.66	26.85	25.50	24.59
	0.00	0.03	0.04	0.20	0.44	2.06	1.83	1.86	2.16	1.82	1.82	1.54
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.00
Investments	0.00	0.85	0.85	0.85	0.85	0.85	0.85	4.87	7.96	7.71	8.40	5.35
	4.31	15.86	21.25	32.70	28.04	36.83	25.81	19.08	18.54	17.32	15.26	17.70
Total Assets	4.31	16.74	22.14	33.75	29.33	39.74	28.49	25.81	28.66	26.85	25.50	24.59

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0.25	6.52	-1.68	-13.49	-1.13	3.81	4.43	1.59	4.97	0.66	-3.50
	-0.88	0.05	-0.19	-0.29	-1.83	-0.23	-4.47	-3.87	-0.12	-0.43	1.88
	-0.95	7.82	0.50	1.79	2.03	-3.63	0.59	2.28	-5.72	0.20	1.15
Net Cash Flow	-1.59	14.39	-1.37	-11.99	-0.94	-0.05	0.55	0.00	-0.87	0.42	-0.46

Ratios

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	0.00	154.82	16.11	128.50	88.23	131.22	60.78	110.25	88.92	138.37	137.85	122.51
Inventory Days						36.66	70.35
Days Payable						965.90	359.69
Cash Conversion Cycle	0.00	154.82	16.11	128.50	88.23	-798.02	-228.56	110.25	88.92	138.37	137.85	122.51
Working Capital Days	240.90	36.95	-77.52	-31.72	56.17	44.00	87.84	68.03	130.63	71.69	59.45	153.46
ROCE %	1.55%	14.33%	7.44%	7.11%	11.61%	10.84%	6.75%	-0.64%	2.59%	3.55%	3.15%	8.71%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	35.14%	25.58%	25.46%	25.46%	25.46%	25.46%	25.46%	25.46%	25.46%	25.46%	25.46%	25.46%
	64.86%	74.41%	74.52%	74.53%	74.54%	74.54%	74.53%	74.54%	74.53%	74.53%	74.54%	74.53%
No. of Shareholders	55,575	72,526	67,664	63,932	60,075	57,599	56,520	54,548	53,088	52,900	52,582	52,002

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	32.17%	32.17%	32.17%	34.91%	40.95%	25.46%	25.46%	25.46%	25.46%
	67.83%	67.83%	67.83%	65.09%	59.05%	74.52%	74.53%	74.54%	74.53%
No. of Shareholders	635	702	802	825	913	67,664	56,520	52,582	52,002

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Crystal Business System Ltd

Crystal Business System Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports