Sun TV Network Ltd

Sun TV Network Ltd

₹ 635 2.46%
25 Apr - close price
About

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

Key Points

This is one of the Asia’s largest TV networks. This was established by Kalanidhi Maran in the year 1993. Its flagship channel is Sun TV, which was the first fully privately owned Tamil channel in India. After which it has grown huge and currently owns and operates 32 TV channels across Indian languages – Tamil, Telugu, Kannada, Malayalam and Bengali.

And it is now expanding its market to North India also, and will be launching 11 new channels including the network's first Marathi language channel. After this, Sun Group will have a total of 43 TV channels.
Sun Pictures gave blockbuster movies as a subsidiary of Sun Network like Sarkar,Beast,Jailer in recent times.[1]

  • Market Cap 25,022 Cr.
  • Current Price 635
  • High / Low 735 / 422
  • Stock P/E 13.2
  • Book Value 256
  • Dividend Yield 2.64 %
  • ROCE 25.5 %
  • ROE 19.2 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 26.9%

Cons

  • The company has delivered a poor sales growth of 4.95% over past five years.

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
994 803 819 849 1,060 857 1,219 826 887 840 1,349 1,048 923
387 252 372 323 326 293 450 289 303 343 552 321 334
Operating Profit 608 551 447 526 735 564 770 537 584 498 797 728 589
OPM % 61% 69% 55% 62% 69% 66% 63% 65% 66% 59% 59% 69% 64%
65 93 86 69 48 61 104 89 100 91 122 112 140
Interest 3 18 2 25 2 4 2 3 2 2 3 2 2
Depreciation 74 82 38 40 158 70 213 80 114 80 90 219 115
Profit before tax 596 543 492 530 623 550 658 544 569 507 827 619 612
Tax % 25% 10% 26% 25% 24% 25% 25% 25% 25% 25% 28% 25% 26%
445 488 365 396 471 410 494 407 425 380 592 465 454
EPS in Rs 11.31 12.37 9.27 10.03 11.95 10.41 12.53 10.34 10.78 9.65 15.02 11.79 11.52
Raw PDF

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 Mar 2023 TTM
1,847 1,923 2,224 2,395 2,474 2,646 2,963 3,783 3,520 3,177 3,585 3,772 4,161
433 514 716 718 1,253 874 959 1,176 1,248 1,111 1,306 1,379 1,549
Operating Profit 1,414 1,409 1,508 1,678 1,221 1,772 2,004 2,607 2,272 2,065 2,279 2,393 2,612
OPM % 77% 73% 68% 70% 49% 67% 68% 69% 65% 65% 64% 63% 63%
80 72 87 99 677 181 165 242 260 306 256 380 465
Interest 6 5 3 2 2 1 1 2 13 27 33 9 9
Depreciation 474 442 478 615 497 400 450 663 700 404 306 486 503
Profit before tax 1,014 1,035 1,113 1,159 1,399 1,551 1,718 2,185 1,819 1,941 2,195 2,278 2,564
Tax % 33% 32% 33% 32% 34% 34% 34% 34% 24% 21% 25% 25%
691 712 757 796 922 1,031 1,136 1,434 1,385 1,525 1,642 1,707 1,891
EPS in Rs 17.58 18.01 18.98 19.84 23.39 26.14 28.80 36.37 35.15 38.70 41.66 43.30 47.98
Dividend Payout % 54% 53% 50% 57% 66% 38% 35% 21% 71% 13% 33% 35%
Compounded Sales Growth
10 Years: 7%
5 Years: 5%
3 Years: 2%
TTM: 10%
Compounded Profit Growth
10 Years: 9%
5 Years: 9%
3 Years: 10%
TTM: 9%
Stock Price CAGR
10 Years: 5%
5 Years: 2%
3 Years: 9%
1 Year: 48%
Return on Equity
10 Years: 23%
5 Years: 22%
3 Years: 21%
Last Year: 19%

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 Mar 2023 Sep 2023
Equity Capital 197 197 197 197 197 197 197 197 197 197 197 197 197
Reserves 2,315 2,588 2,898 3,151 3,277 3,831 4,491 5,329 5,527 6,857 7,958 9,075 9,885
0 0 0 0 0 0 0 0 0 80 95 63 52
394 446 468 397 285 350 585 670 782 812 648 814 718
Total Liabilities 2,906 3,232 3,564 3,745 3,759 4,378 5,273 6,197 6,507 7,946 8,898 10,148 10,853
1,246 1,377 1,373 1,179 845 1,225 1,153 1,112 1,145 946 1,791 1,729 1,810
CWIP 4 3 2 2 1 2 49 13 66 146 244 131 3
Investments 224 244 472 506 636 1,148 2,147 2,801 2,692 3,504 3,589 5,512 6,473
1,433 1,609 1,717 2,058 2,278 2,004 1,923 2,271 2,603 3,351 3,274 2,775 2,567
Total Assets 2,906 3,232 3,564 3,745 3,759 4,378 5,273 6,197 6,507 7,946 8,898 10,148 10,853

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 Mar 2023
876 869 1,195 1,162 1,299 1,296 1,371 1,824 1,656 1,464 1,634 2,096
-346 -477 -786 -518 -401 -716 -1,294 -1,113 -406 -1,152 -1,026 -1,553
-578 -382 -431 -635 -737 -475 -475 -596 -1,222 -249 -603 -631
Net Cash Flow -47 10 -22 9 160 104 -398 115 27 63 5 -88

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 Mar 2023
Debtor Days 101 111 103 115 115 107 131 109 142 165 149 143
Inventory Days
Days Payable
Cash Conversion Cycle 101 111 103 115 115 107 131 109 142 165 149 143
Working Capital Days 80 96 84 113 137 89 89 78 102 105 109 90
ROCE % 41% 37% 36% 35% 32% 41% 39% 42% 30% 29% 27% 25%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
7.73% 8.09% 8.95% 9.21% 9.32% 9.79% 10.44% 10.56% 10.39% 10.57% 9.01% 8.87%
3.63% 3.32% 2.92% 4.18% 4.73% 3.94% 3.79% 3.61% 3.67% 4.47% 6.59% 6.50%
13.64% 13.59% 13.13% 11.61% 10.95% 11.27% 10.77% 10.83% 10.95% 9.96% 9.40% 9.62%
No. of Shareholders 1,12,1531,22,0581,07,4761,13,4781,23,0551,16,2781,16,1431,19,9711,19,04499,89595,3621,00,803

* 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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