Dish TV India Ltd

About [ edit ]

Dish TV India is engaged in the business of providing Direct to Home (DTH) television and Teleport services.

  • Market Cap 2,154 Cr.
  • Current Price 11.7
  • High / Low 16.3 / 3.90
  • Stock P/E 3.12
  • Book Value 21.7
  • Dividend Yield 0.00 %
  • ROCE 10.2 %
  • ROE 5.81 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Stock is trading at 0.54 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased by -4.30% over last quarter
  • The company has delivered a poor sales growth of 5.76% over past five years.
  • Promoter holding is low: 8.51%
  • Tax rate seems low
  • Company has a low return on equity of 4.01% for last 3 years.
  • Contingent liabilities of Rs.1711.13 Cr.
  • Promoters have pledged 58.07% of their holding.
  • Company's cost of borrowing seems high
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,532 1,656 1,594 1,517 1,399 926 893 868 869 836 846 816
1,132 1,099 1,054 986 984 390 373 362 326 284 321 312
Operating Profit 401 557 541 532 415 536 520 506 543 551 525 504
OPM % 26% 34% 34% 35% 30% 58% 58% 58% 63% 66% 62% 62%
Other Income 13 16 15 12 -1,553 5 4 3 -1,913 15 4 3
Interest 133 178 159 144 148 147 138 137 143 122 107 97
Depreciation 347 361 368 353 359 363 369 347 347 342 339 315
Profit before tax -67 34 29 46 -1,645 31 17 25 -1,860 103 84 95
Tax % 277% 25% 31% -229% 17% 214% 664% 372% 22% 27% 23% 9%
Net Profit 121 28 25 162 -1,360 -32 -91 -65 -1,451 76 66 91
EPS in Rs 0.66 0.15 0.14 0.88 -7.39 -0.17 -0.50 -0.35 -7.88 0.41 0.36 0.49
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
738 1,085 1,437 1,958 2,167 2,509 2,688 3,060 3,014 4,634 6,166 3,556 3,367
860 965 1,199 1,462 1,587 1,902 1,955 2,035 2,046 3,310 4,112 1,438 1,243
Operating Profit -122 120 238 496 579 607 733 1,025 968 1,324 2,054 2,119 2,124
OPM % -17% 11% 17% 25% 27% 24% 27% 33% 32% 29% 33% 60% 63%
Other Income 8 37 123 90 111 -34 64 64 62 46 -1,520 -1,915 -1,890
Interest 137 97 153 197 128 133 175 209 229 396 629 565 469
Depreciation 229 323 400 522 628 597 614 591 691 1,072 1,441 1,426 1,343
Profit before tax -480 -263 -192 -133 -66 -158 7 290 109 -98 -1,536 -1,787 -1,578
Tax % -0% 0% 0% 0% -0% -0% 57% -139% 25% 13% 24% 7%
Net Profit -481 -262 -192 -133 -66 -158 3 692 92 -75 -1,145 -1,639 -1,218
EPS in Rs -1.80 -1.25 -0.62 -1.48 0.03 6.50 0.86 -0.41 -6.22 -8.90 -6.62
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% -8% 0%
Compounded Sales Growth
10 Years:13%
5 Years:6%
3 Years:6%
TTM:-18%
Compounded Profit Growth
10 Years:12%
5 Years:163%
3 Years:44%
TTM:5150%
Stock Price CAGR
10 Years:-15%
5 Years:-31%
3 Years:-44%
1 Year:58%
Return on Equity
10 Years:%
5 Years:9%
3 Years:4%
Last Year:6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
69 106 106 106 106 106 107 107 107 184 184 184 184
Reserves -716 271 -69 -200 -262 -419 -420 274 299 6,562 5,298 3,657 3,809
Borrowings 1,149 932 1,076 1,400 1,633 1,410 1,484 1,231 1,137 3,154 2,758 1,784 760
1,637 1,596 1,610 1,328 1,677 1,673 1,996 2,327 2,627 5,272 6,106 5,983 6,498
Total Liabilities 2,139 2,905 2,723 2,634 3,155 2,770 3,166 3,939 4,170 15,172 14,346 11,609 11,252
961 1,105 1,444 1,420 1,434 1,357 1,454 1,810 2,042 12,185 10,235 7,681 7,755
CWIP 373 354 442 388 654 423 497 610 580 678 767 1,148 617
Investments 0 356 200 150 278 200 200 232 165 150 0 0 0
804 1,090 637 675 789 790 1,015 1,287 1,383 2,159 3,344 2,780 2,880
Total Assets 2,139 2,905 2,723 2,634 3,155 2,770 3,166 3,939 4,170 15,172 14,346 11,609 11,252

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-232 233 395 411 609 705 767 1,132 821 1,036 1,090 2,204
-547 -880 -643 -502 -786 -301 -670 -809 -625 -493 -452 -926
809 1,122 66 142 122 -461 -36 -352 -115 -414 -849 -1,257
Net Cash Flow 29 474 -183 52 -55 -56 61 -29 82 129 -210 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % -119% -17% -4% 5% -0% 7% 16% 36% 21% 5% 7% 10%
Debtor Days 26 12 6 5 5 6 9 9 11 12 8 9
Inventory Turnover 3.86 1.76 1.61 1.54 1.61 1.76 1.41 1.41 1.24 0.84 0.75 0.64

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
31.46 36.43 60.83 60.83 57.99 57.52 55.27 54.95 54.56 23.67 12.81 8.51
11.10 13.34 11.71 12.65 14.99 11.58 12.51 11.24 11.09 9.74 9.16 10.58
19.43 2.54 1.54 1.83 0.86 3.80 5.07 2.93 2.39 2.14 2.78 2.46
38.01 47.69 25.92 24.69 26.16 27.11 27.15 30.88 31.97 64.45 75.25 78.45

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