GTPL Hathway Ltd

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GTPL Hathway Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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GTPL Hathway Ltd

₹ 56.1 -1.74%
16 Oct - close price
gtpl.net BSE: 540602 NSE: GTPL
About

Established in 2006, GTPL Hathway Limited is India’s largest MSO providing Digital Cable TV services and is one of the largest Private Wireline Broadband service provider in India. The Company is the largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat & is a leading Digital Cable TV Service provider in West Bengal. [1]

Key Points

Business Segment
a) Digital Cable TV Business[1][2]
As of FY25, GTPL Hathway is the No.1 Multi System Operator in India and Gujarat. The company has 9.60 million active STBs and 8.90 million paying subscribers, offering 950+ channels, including 95+ HD channels and 130+ proprietary platform services. The distribution is managed via headends in Ahmedabad and Kolkata.
GTPL is driving growth through inorganic acquisitions, rural expansion, and value-added services like online payments, multi-platform access, and bundled offerings through "GTPL Buzz" and "GTPL Genie", which combines Digital Cable TV with OTT content.[3]

Website BSE NSE
  • Market Cap ₹ 630 Cr.
  • Current Price ₹ 56.1
  • High / Low ₹ 114 / 50.6
  • Stock P/E
  • Book Value ₹ 100
  • Dividend Yield 3.57 %
  • ROCE 3.47 %
  • ROE 1.44 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.56 times its book value
  • Company has been maintaining a healthy dividend payout of 77.2%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 8.56% over past five years.
  • Company has a low return on equity of 4.97% over last 3 years.
  • Contingent liabilities of Rs.237 Cr.

* 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

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
779.20 850.88 807.98 843.37 855.56 887.27 890.99 903.70 959.05 932.62 923.84 1,015.41 1,143.06
655.05 730.17 695.37 730.37 748.19 781.89 785.65 796.84 854.80 819.25 843.41 910.75 1,036.16
Operating Profit 124.15 120.71 112.61 113.00 107.37 105.38 105.34 106.86 104.25 113.37 80.43 104.66 106.90
OPM % 15.93% 14.19% 13.94% 13.40% 12.55% 11.88% 11.82% 11.82% 10.87% 12.16% 8.71% 10.31% 9.35%
10.78 10.14 6.86 7.21 7.12 9.31 7.83 5.42 6.13 5.80 10.25 4.49 3.48
Interest 4.98 6.48 7.30 6.61 6.03 8.65 8.36 8.64 8.72 10.11 11.09 9.53 12.29
Depreciation 82.04 90.88 90.40 91.89 90.48 92.75 93.66 91.41 90.88 93.82 100.02 96.74 101.93
Profit before tax 47.91 33.49 21.77 21.71 17.98 13.29 11.15 12.23 10.78 15.24 -20.43 2.88 -3.84
Tax % 25.11% 26.34% 26.32% 30.95% 23.64% 27.46% 2.78% 40.07% 31.35% 24.15% -31.82% 52.43% -7.55%
35.87 24.67 16.05 14.99 13.74 9.63 10.83 7.32 7.40 11.56 -13.93 1.37 -3.55
EPS in Rs 3.04 2.11 1.17 1.27 1.14 0.90 0.95 0.94 0.82 0.98 -1.34 0.21 -0.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
623 736 908 1,091 1,246 2,384 2,467 2,414 2,664 3,212 3,477 3,719 4,015
474 583 697 797 905 1,921 1,947 1,881 2,198 2,735 3,045 3,311 3,610
Operating Profit 149 154 211 294 340 464 520 533 466 477 432 408 405
OPM % 24% 21% 23% 27% 27% 19% 21% 22% 18% 15% 12% 11% 10%
9 8 33 17 -44 -30 51 24 32 34 30 24 24
Interest 42 47 64 42 51 45 23 14 10 23 30 39 43
Depreciation 84 107 139 171 202 232 260 253 319 337 369 376 393
Profit before tax 33 8 41 98 43 158 288 290 169 151 64 18 -6
Tax % 39% 54% 36% 42% 43% 44% 27% 25% 26% 26% 23% 31%
20 4 26 56 25 88 210 219 125 112 49 12 -5
EPS in Rs 2.04 0.75 4.10 5.43 1.68 6.91 16.73 17.75 10.13 9.51 4.26 1.40 -0.23
Dividend Payout % 0% 7% 24% 18% 60% 43% 24% 23% 39% 42% 47% 143%
Compounded Sales Growth
10 Years: 18%
5 Years: 9%
3 Years: 12%
TTM: 10%
Compounded Profit Growth
10 Years: 9%
5 Years: -39%
3 Years: -49%
TTM: -105%
Stock Price CAGR
10 Years: %
5 Years: -27%
3 Years: -32%
1 Year: -47%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 5%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 2 98 98 112 112 112 112 112 112 112 112 112 112
Reserves 331 282 289 545 552 616 768 919 991 1,047 1,051 1,034 1,014
240 466 546 328 345 223 165 130 149 288 313 502 548
542 628 776 916 1,004 1,194 1,273 1,141 1,420 1,571 1,759 1,592 2,716
Total Liabilities 1,115 1,474 1,709 1,902 2,014 2,145 2,318 2,303 2,672 3,019 3,236 3,240 4,390
696 904 1,054 1,210 1,214 1,325 1,393 1,507 1,768 2,029 2,058 2,221 2,339
CWIP 11 61 60 38 32 32 71 92 113 88 118 66 69
Investments 15 19 10 14 15 14 10 9 9 11 12 11 10
393 491 585 639 754 773 844 694 782 891 1,048 942 1,972
Total Assets 1,115 1,474 1,709 1,902 2,014 2,145 2,318 2,303 2,672 3,019 3,236 3,240 4,390

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
209 225 266 412 284 394 548 396 583 455 452 360
-96 -366 -272 -334 -235 -254 -375 -311 -461 -477 -376 -273
-92 166 21 -64 -5 -187 -163 -102 -58 -48 -115 -81
Net Cash Flow 21 25 14 13 44 -47 10 -17 64 -70 -39 7
Free Cash Flow 114 -153 -12 84 57 143 177 86 116 -17 67 64
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 145% 149% 133% 154% 102% 100% 115% 85% 117% 102% 101% 87%

Ratios

Consolidated / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 134 122 119 109 84 43 57 43 40 50 62 54
Inventory Days
Days Payable
Cash Conversion Cycle 134 122 119 109 84 43 57 43 40 50 62 54
Working Capital Days -102 -182 -187 -173 -155 -102 -106 -96 -127 -112 -100 -84
ROCE % 12% 7% 12% 15% 18% 27% 31% 27% 15% 12% 6% 3%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Broadband Active Subscribers
Thousand

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Broadband ARPU
INR per month
Broadband Homepass
Million
Cable TV Active Subscribers
Million
Cable TV Paying Subscribers
Million
Average Data Consumption per Customer per Month
GB
Business Partners (LCOs)
Thousand

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
8.67% 8.66% 8.66% 8.64% 8.64% 8.61% 8.39% 8.40% 8.41% 8.35% 7.37% 7.18%
0.03% 0.03% 0.03% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
16.31% 16.31% 16.32% 16.34% 16.36% 16.39% 16.61% 16.60% 16.59% 16.66% 17.62% 17.81%
No. of Shareholders 26,83227,67027,65128,14628,47928,27628,96829,42728,60027,99028,50128,322

* 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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