NxtDigital Ltd

hindujaventures.com BSE: 500189 NSE : NXTDIGITAL
About

NXTDIGITAL Limited (formerly known as Hinduja Ventures Limited), a part of the Hinduja Group is engaged in the distribution of TV signals both through Cable and Satellite and also provides broadband services through its subsidiary ONEOTT Intertainment Limited (OIL). [1] [2]

Key Points

Products
The Company’s Digital Cable television platform delivers over 750+ channels across 100+ cities/towns and the HITS services are available in India across 1500+ cities/towns. It also has a network of over 9,000 franchisees across the country. [1]
It designed a unique delivery model known as COPE (Cable Operator Premises Equipment) to enable LCOs to go digital anywhere in India in just 24 hours. [2]

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Website BSE NSE
  • Market Cap ₹ 1,220 Cr.
  • Current Price ₹ 363
  • High / Low ₹ 570 / 333
  • Stock P/E
  • Book Value ₹ 6.23
  • Dividend Yield 1.10 %
  • ROCE 3.08 %
  • ROE -28.8 %
  • Face Value ₹ 10.0
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Pros

  • Debtor days have improved from 35.67 to 26.65 days.

Cons

  • Stock is trading at 58.24 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.76% over past five years.
  • Company has a low return on equity of -42.02% for last 3 years.
  • Contingent liabilities of Rs.817.38 Cr.
  • Promoter holding has decreased over last 3 years: -8.59%

Peer comparison

Sector: Entertainment Industry: Entertainment / Electronic Media Software

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
166 185 222 257 298 215 228 230 251 265 247 271
245 169 247 225 220 393 184 184 197 210 215 225
Operating Profit -79 17 -24 32 78 -177 44 46 54 55 31 45
OPM % -48% 9% -11% 12% 26% -82% 19% 20% 21% 21% 13% 17%
Other Income 15 46 6 125 40 12 7 6 10 13 20 7
Interest 37 22 24 25 32 33 36 38 36 33 35 36
Depreciation 38 39 45 48 50 54 49 57 52 46 54 54
Profit before tax -139 2 -88 84 36 -252 -34 -42 -23 -12 -38 -38
Tax % 12% -1,423% 34% -47% -49% 7% 14% 100% 107% 217% 25% 27%
Net Profit -100 26 -61 92 49 -233 -23 -12 -5 11 -32 -30
EPS in Rs -34.80 8.94 -21.02 32.09 16.88 -80.78 -7.96 -3.41 -1.58 3.15 -9.39 -8.87
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
313 434 538 698 767 755 671 785 840 665 1,000 975 1,034
318 306 342 475 629 639 596 726 791 801 1,058 769 848
Operating Profit -5 127 196 223 138 116 75 59 49 -136 -58 206 186
OPM % -2% 29% 36% 32% 18% 15% 11% 8% 6% -20% -6% 21% 18%
Other Income 114 42 25 5 7 25 96 41 24 65 162 36 50
Interest 2 4 15 46 121 93 135 162 149 110 126 150 140
Depreciation 24 28 35 67 122 84 89 124 150 153 197 204 207
Profit before tax 84 137 170 115 -98 -36 -53 -186 -226 -333 -219 -112 -111
Tax % 14% 20% 28% 24% 42% -76% -72% -9% -2% -3% 39% 88%
Net Profit 61 87 100 80 0 18 -81 -57 -173 -266 -168 -29 -56
EPS in Rs 21.03 30.06 34.88 27.85 0.07 6.34 -28.20 -19.66 -60.08 -92.39 -58.48 -8.65 -16.69
Dividend Payout % 34% 30% 31% 38% 15,420% 169% -44% -64% -21% -14% -6% -33%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 5%
TTM: 6%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: 22%
TTM: 74%
Stock Price CAGR
10 Years: 2%
5 Years: -5%
3 Years: -1%
1 Year: -31%
Return on Equity
10 Years: -10%
5 Years: -30%
3 Years: -42%
Last Year: -29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions
Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
21 21 21 21 21 21 21 21 21 21 21 24 24
Reserves 597 649 714 798 762 743 639 429 882 517 99 59 -3
Borrowings 12 110 128 787 844 1,054 1,324 1,232 1,555 1,204 1,088 1,136 1,176
283 318 385 422 375 344 579 489 792 749 750 659 791
Total Liabilities 912 1,097 1,247 2,028 2,002 2,162 2,562 2,171 3,249 2,491 1,957 1,878 1,988
189 242 296 540 604 603 767 844 854 768 1,162 1,152 1,143
CWIP 51 24 9 112 38 39 195 25 13 22 12 10 17
Investments 252 273 226 320 305 271 525 351 1,825 1,226 8 13 14
419 559 717 1,056 1,055 1,248 1,075 952 556 475 775 704 814
Total Assets 912 1,097 1,247 2,028 2,002 2,162 2,562 2,171 3,249 2,491 1,957 1,878 1,988

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
33 -25 -13 -126 103 -17 548 101 -61 -198 -138 148
-85 -69 12 -430 -20 32 -605 199 32 576 630 9
-41 41 -26 557 -67 -3 77 -304 31 -387 -497 -171
Net Cash Flow -93 -53 -28 1 17 11 20 -5 3 -8 -5 -14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 85 97 111 161 171 171 103 74 53 52 28 27
Inventory Days 331
Days Payable 2,122
Cash Conversion Cycle 85 97 111 161 171 171 103 74 53 52 -1,762 27
Working Capital Days 248 254 292 356 286 329 154 157 -66 -170 -58 -88
ROCE % 10% 20% 23% 13% 1% 4% 2% -1% -4% -12% -6% 3%

Shareholding Pattern

Numbers in percentages

Insider trades
Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
70.82 70.82 70.82 70.82 70.82 70.82 70.82 62.23 62.23 62.23 62.23 62.23
6.19 6.19 6.63 6.52 6.52 6.52 6.52 6.60 6.79 6.79 6.79 6.79
0.10 0.03 0.02 0.01 0.01 0.00 0.00 11.41 11.41 11.41 11.29 11.11
22.89 22.96 22.52 22.65 22.65 22.66 22.66 19.76 19.57 19.57 19.69 19.87

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