Sun TV Network Ltd

About [ edit ]

Sun TV Network is engaged in producing and broadcasting satellite television and radio software programming in the regional languages of South India.

Key Points [ edit ]
  • Market Cap 19,436 Cr.
  • Current Price 493
  • High / Low 571 / 260
  • Stock P/E 15.2
  • Book Value 160
  • Dividend Yield 5.07 %
  • ROCE 29.9 %
  • ROE 22.6 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 5.07%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.03%
  • Company has been maintaining a healthy dividend payout of 42.15%

Cons

  • The company has delivered a poor sales growth of 8.00% over past five years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,146 780 939 917 1,110 804 848 758 612 769 994
402 215 261 299 415 325 253 256 215 274 387
Operating Profit 744 565 679 618 695 478 595 502 396 495 608
OPM % 65% 72% 72% 67% 63% 60% 70% 66% 65% 64% 61%
Other Income 44 65 62 72 59 75 67 60 110 54 65
Interest 0 1 1 0 3 3 3 3 3 3 3
Depreciation 149 86 181 247 164 150 149 238 151 97 74
Profit before tax 639 544 559 443 587 400 511 321 352 450 596
Tax % 35% 33% 36% 34% 34% 8% 25% 24% 27% 25% 25%
Net Profit 418 365 359 292 387 369 384 245 257 335 446
EPS in Rs 10.59 9.26 9.10 7.41 9.81 9.36 9.76 6.22 6.53 8.50 11.31
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
1,039 1,453 2,013 1,847 1,923 2,224 2,395 2,474 2,646 2,963 3,783 3,520 3,132
303 362 433 433 514 716 718 983 876 959 1,176 1,248 1,132
Operating Profit 737 1,091 1,581 1,414 1,409 1,508 1,677 1,491 1,770 2,004 2,607 2,272 2,000
OPM % 71% 75% 78% 77% 73% 68% 70% 60% 67% 68% 69% 65% 64%
Other Income 67 35 46 80 72 87 99 407 183 165 243 261 290
Interest 14 5 2 6 5 3 2 2 1 1 2 13 12
Depreciation 220 321 480 474 442 478 615 497 400 450 663 700 560
Profit before tax 569 800 1,144 1,014 1,035 1,113 1,159 1,399 1,551 1,718 2,185 1,819 1,719
Tax % 40% 37% 33% 33% 32% 33% 32% 34% 34% 34% 34% 24%
Net Profit 368 520 770 693 710 748 782 922 1,030 1,135 1,433 1,385 1,283
EPS in Rs 9.35 13.19 19.53 17.58 18.01 18.98 19.84 23.39 26.14 28.80 36.37 35.15 32.56
Dividend Payout % 27% 57% 45% 54% 53% 50% 57% 66% 38% 35% 21% 71%
Compounded Sales Growth
10 Years:9%
5 Years:8%
3 Years:10%
TTM:-15%
Compounded Profit Growth
10 Years:9%
5 Years:10%
3 Years:8%
TTM:-10%
Stock Price CAGR
10 Years:2%
5 Years:9%
3 Years:-19%
1 Year:19%
Return on Equity
10 Years:26%
5 Years:25%
3 Years:25%
Last Year:23%

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
197 285 290 197 197 197 197 197 197 197 197 197 197
Reserves 1,505 1,689 2,057 2,315 2,588 2,898 3,151 3,277 3,831 4,491 5,329 5,527 6,120
Borrowings 72 0 0 0 0 0 0 0 0 0 0 0 0
283 619 612 394 446 468 397 285 350 585 670 782 775
Total Liabilities 2,057 2,505 2,866 2,906 3,232 3,564 3,745 3,759 4,378 5,273 6,197 6,507 7,092
838 928 1,296 1,246 1,377 1,373 1,179 845 1,225 1,153 1,112 1,145 951
CWIP 157 315 11 4 3 2 2 1 2 49 13 66 81
Investments 181 228 272 224 244 472 506 636 1,148 2,147 2,801 2,692 3,500
881 1,035 1,287 1,433 1,609 1,717 2,058 2,278 2,004 1,923 2,271 2,603 2,560
Total Assets 2,057 2,505 2,866 2,906 3,232 3,564 3,745 3,759 4,378 5,273 6,197 6,507 7,092

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
588 747 1,147 876 869 1,195 1,162 1,299 1,296 1,371 1,824 1,656
-372 -654 -592 -346 -477 -786 -518 -401 -716 -1,294 -1,113 -406
-209 -84 -501 -578 -382 -431 -635 -737 -475 -475 -596 -1,222
Net Cash Flow 7 9 54 -47 10 -22 9 160 104 -398 115 27

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 % 34% 43% 53% 42% 39% 38% 36% 33% 41% 39% 42% 30%
Debtor Days 85 83 78 101 111 103 115 115 107 131 109 142
Inventory Turnover 70.40 12.40 10.14 22.90 49.41 51.87 50.67 23.29 16.98 32.67 80.08 164.75

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
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
13.01 12.10 10.19 9.69 9.49 8.82 8.53 8.68 8.96 10.32 10.89 9.44
3.85 4.80 6.28 6.69 7.15 7.55 8.10 8.16 7.21 5.62 5.25 5.03
8.14 8.10 8.53 8.62 8.36 8.63 8.37 8.16 8.83 9.06 8.86 10.53

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