GTPL Hathway Ltd

₹ 166 -0.66%
05 Aug - close price
About

GTPL was established in 2006, by Mr. Anirudhsinhji Jadeja, Mr. Kanaksinh Rana, and other MSOs, such as Gujarat Telelink Pvt Ltd. It provides services such as analogue cable TV, digital cable TV, and broadband internet in states such as Gujarat, West Bengal, and Maharashtra. The company got its present name after Hathway Cable & Datacom Ltd (HCDL) bought a 50% stake in fiscal 2008. The company got listed on the BSE & NSE in July 2017. [1]

Key Points

Leadership in Gujarat & WB:
Grew to National MSO with footprints in 800+ towns across 13 states in India in 14 Years, providing both Cable TV & Broadband Services. GTPL is currently the no. 2 multisystem operator in India, no. 1 multisystem operator in Gujarat with 67% of market share, no. 2 player in West Bengal with 24% market share, and no. 6 private wireline broadband player in India offering High speed & Truly unlimited data.

  • Market Cap 1,871 Cr.
  • Current Price 166
  • High / Low 314 / 132
  • Stock P/E 9.20
  • Book Value 91.8
  • Dividend Yield 2.40 %
  • ROCE 29.4 %
  • ROE 22.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 51.6% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 30.0%
  • Company's median sales growth is 18.2% of last 10 years

Cons

* 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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
447 620 682 635 495 576 647 749 602 596 599 617 631
340 501 560 522 374 446 507 632 473 461 466 488 510
Operating Profit 107 119 121 114 122 129 140 116 129 135 133 129 121
OPM % 24% 19% 18% 18% 25% 22% 22% 16% 21% 23% 22% 21% 19%
9 7 14 -57 7 9 8 39 9 -3 14 11 15
Interest 12 9 10 13 8 6 5 4 2 3 5 4 2
Depreciation 53 57 60 62 63 63 69 65 61 63 64 65 69
Profit before tax 50 61 65 -18 57 70 75 86 75 66 78 71 64
Tax % 34% 42% 40% -6% 19% 28% 30% 28% 29% 24% 25% 20% 25%
Net Profit 29 29 33 -14 41 45 45 57 47 43 55 54 43
EPS in Rs 2.62 2.57 2.94 -1.21 3.63 4.01 4.02 5.06 4.22 3.83 4.86 4.84 3.85

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
358 453 577 623 736 908 1,091 1,246 2,384 2,467 2,414 2,443
287 347 421 474 583 697 797 905 1,921 1,947 1,881 1,925
Operating Profit 71 106 156 149 154 211 294 340 464 520 533 519
OPM % 20% 23% 27% 24% 21% 23% 27% 27% 19% 21% 22% 21%
1 2 2 9 8 33 17 -44 -30 51 24 36
Interest 10 20 40 42 47 64 42 51 45 23 14 15
Depreciation 17 29 72 84 107 139 171 202 232 260 253 261
Profit before tax 45 60 46 33 8 41 98 43 158 288 290 279
Tax % 29% 31% 47% 39% 54% 36% 42% 43% 44% 27% 25%
Net Profit 30 38 24 17 7 40 61 19 78 188 200 195
EPS in Rs 203.50 226.05 120.10 83.50 0.75 4.10 5.43 1.68 6.91 16.73 17.75 17.38
Dividend Payout % 0% 0% 0% 0% 7% 24% 18% 60% 43% 24% 23%
Compounded Sales Growth
10 Years: 21%
5 Years: 22%
3 Years: 25%
TTM: -5%
Compounded Profit Growth
10 Years: 21%
5 Years: 52%
3 Years: 98%
TTM: 5%
Stock Price CAGR
10 Years: %
5 Years: 3%
3 Years: 30%
1 Year: -18%
Return on Equity
10 Years: 14%
5 Years: 17%
3 Years: 21%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1 2 2 2 98 98 112 112 112 112 112
Reserves 190 254 316 331 282 289 545 552 616 768 919
84 230 282 240 466 546 328 345 223 165 124
211 308 458 542 628 776 916 1,004 1,194 1,273 1,141
Total Liabilities 486 793 1,058 1,115 1,474 1,709 1,902 2,014 2,145 2,318 2,297
303 480 674 696 904 1,054 1,210 1,214 1,325 1,393 1,507
CWIP 4 23 22 11 61 60 38 32 32 71 92
Investments 5 4 9 15 19 10 14 15 14 10 9
174 286 354 393 491 585 639 754 773 844 689
Total Assets 486 793 1,058 1,115 1,474 1,709 1,902 2,014 2,145 2,318 2,297

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
209 225 266 412 284 394 551 402
-96 -366 -272 -334 -235 -254 -378 -318
-92 166 21 -64 -5 -187 -163 -107
Net Cash Flow 21 25 14 13 44 -47 10 -23

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 89 98 126 134 122 119 109 84 43 61 43
Inventory Days
Days Payable
Cash Conversion Cycle 89 98 126 134 122 119 109 84 43 61 43
Working Capital Days -38 -43 -77 -102 -134 -88 -110 -118 -88 -84 -81
ROCE % 21% 16% 13% 8% 12% 15% 18% 28% 32% 29%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
78.83 78.83 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
11.36 12.34 11.67 11.18 10.76 10.48 9.92 9.90 10.16 9.93 10.33 10.51
0.37 0.13 0.06 0.09 0.00 0.52 0.52 0.52 0.52 0.37 0.36 0.02
9.43 8.70 13.27 13.73 14.24 14.00 14.56 14.58 14.32 14.70 14.31 14.47

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