T.V. Today Network Ltd

About

TV Today Network is primarily engaged in broadcasting television news channels, radio stations and newspaper publishing in India.(Source : 202003-01 Annual Report Page No:153)

  • Market Cap 2,428 Cr.
  • Current Price 405
  • High / Low 442 / 201
  • Stock P/E 13.8
  • Book Value 178
  • Dividend Yield 0.62 %
  • ROCE 20.6 %
  • ROE 14.1 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 38.94%

Cons

  • The company has delivered a poor sales growth of 6.13% over past five years.
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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
206 176 246 180 222 208 168 177 224 214 204 226
146 143 172 146 162 162 138 136 146 165 152 166
Operating Profit 60 33 74 34 61 47 30 41 77 50 52 60
OPM % 29% 19% 30% 19% 27% 22% 18% 23% 35% 23% 26% 26%
Other Income 6 15 14 13 8 8 8 11 9 10 9 14
Interest 0 0 1 1 1 1 1 1 0 1 1 0
Depreciation 8 8 10 10 10 10 9 10 11 11 10 10
Profit before tax 59 40 78 36 59 45 28 42 75 48 50 63
Tax % 35% 39% 35% 37% 36% 38% 54% 35% 27% 25% 26% 26%
Net Profit 38 24 51 23 38 28 13 28 55 36 37 47
EPS in Rs 6.38 4.03 8.55 3.86 6.29 4.66 2.14 4.65 9.18 6.07 6.26 7.87

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
285 293 308 313 389 477 582 652 721 742 857 783 868
239 267 282 278 280 345 420 489 513 542 641 584 629
Operating Profit 46 26 26 35 109 132 162 163 208 200 216 199 239
OPM % 16% 9% 9% 11% 28% 28% 28% 25% 29% 27% 25% 25% 28%
Other Income 29 9 6 7 12 23 -10 29 11 36 43 37 42
Interest 7 1 1 3 4 1 6 8 4 1 3 2 2
Depreciation 21 16 14 21 24 30 31 29 31 32 38 40 42
Profit before tax 47 18 16 18 93 123 115 155 183 204 218 194 237
Tax % 34% 33% 36% 31% 34% 34% 46% 35% 35% 36% 36% 32%
Net Profit 31 12 11 12 61 81 63 102 119 131 139 132 175
EPS in Rs 5.34 2.15 1.77 2.05 10.31 13.58 10.62 17.14 19.94 21.97 23.36 22.04 29.38
Dividend Payout % 14% 36% 42% 37% 10% 11% 16% 12% 11% 10% 95% 11%
Compounded Sales Growth
10 Years: 10%
5 Years: 6%
3 Years: 3%
TTM: 12%
Compounded Profit Growth
10 Years: 27%
5 Years: 16%
3 Years: 1%
TTM: 66%
Stock Price CAGR
10 Years: 24%
5 Years: 5%
3 Years: 2%
1 Year: 99%
Return on Equity
10 Years: 15%
5 Years: 17%
3 Years: 16%
Last Year: 14%

Balance Sheet

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 Sep 2021
30 30 30 30 30 30 30 30 30 30 30 30 30
Reserves 275 283 288 295 349 420 442 551 632 866 842 961 1,030
Borrowings 66 18 56 60 17 7 46 35 0 3 21 17 15
71 73 75 99 102 120 130 152 173 172 199 201 196
Total Liabilities 440 404 449 484 499 577 647 768 834 1,071 1,092 1,208 1,271
74 63 55 222 215 235 214 206 258 247 245 226 215
CWIP 58 75 175 10 2 3 5 4 2 4 0 1 3
Investments 2 47 46 46 46 46 7 0 0 0 0 0 0
307 218 174 207 236 293 421 558 574 820 847 981 1,053
Total Assets 440 404 449 484 499 577 647 768 834 1,071 1,092 1,208 1,271

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
-9 9 57 39 81 78 -36 120 152 125 201 166
35 43 -79 -15 -3 -49 0 -103 -94 -104 -15 -166
13 -54 32 -7 -52 -18 -13 -16 -59 -14 -168 -17
Net Cash Flow 39 -1 10 17 26 11 -48 1 -0 7 17 -17

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 110 123 106 110 103 105 95 100 94 91 94 93
Inventory Days
Days Payable
Cash Conversion Cycle 110 123 106 110 103 105 95 100 94 91 94 93
Working Capital Days 122 116 82 75 63 53 56 58 49 135 182 166
ROCE % 14% 5% 5% 5% 25% 29% 31% 27% 31% 26% 25% 21%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
57.41 57.52 57.96 57.96 57.96 57.95 58.45 58.45 58.45 58.45 58.45 58.45
12.02 11.67 10.79 10.07 11.42 11.02 8.96 8.75 8.76 8.79 6.97 5.98
14.38 15.35 15.33 17.26 15.60 16.13 16.15 15.67 14.43 14.16 14.15 14.97
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03
16.17 15.45 15.91 14.69 15.00 14.87 16.41 17.11 18.33 18.57 20.40 20.57

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