Sun TV Network Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:46 am

Market Cap	27,462 Cr.
Current Price	697
High / Low	922/568
Stock P/E	15.0
Book Value	287
Dividend Yield	2.40 %
ROCE	26.2 %
ROE	19.3 %
Face Value	5.00
PEG Ratio	3.40

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Sun TV Network Ltd	27,462 Cr.	697	922/568	15.0	287	2.40 %	26.2 %	19.3 %	5.00
Shemaroo Entertainment Ltd	437 Cr.	160	240/129		188	0.00 %	0.10 %	6.97 %	10.0
Industry Average	13,949.50 Cr	428.50		15.00	237.50	1.20%	13.15%	13.14%	7.50

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	819	849	1,060	857	1,219	826	887	840	1,349	1,048	923	961	1,312
Expenses	372	323	326	293	450	289	303	343	552	321	334	438	594
Operating Profit	447	526	735	564	770	537	584	498	797	728	589	523	719
OPM %	55%	62%	69%	66%	63%	65%	66%	59%	59%	69%	64%	54%	55%
Other Income	86	69	48	61	104	89	100	91	122	112	140	142	149
Interest	2	25	2	4	2	3	2	2	3	2	2	2	2
Depreciation	38	40	158	70	213	80	114	80	90	219	115	108	113
Profit before tax	492	530	623	550	658	544	569	507	827	619	612	555	753
Tax %	26%	25%	24%	25%	25%	25%	25%	25%	28%	25%	26%	25%	26%
Net Profit	365	396	471	410	494	407	425	380	592	465	454	415	560
EPS in Rs	9.27	10.03	11.95	10.41	12.53	10.34	10.78	9.65	15.02	11.79	11.52	10.52	14.20

Last Updated: October 5, 2024, 11:50 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 5, 2024, 11:50 am

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	1,923	2,224	2,395	2,474	2,646	2,963	3,783	3,520	3,177	3,585	3,772	4,282	4,245
Expenses	514	716	718	1,253	874	959	1,176	1,248	1,111	1,306	1,379	1,644	1,686
Operating Profit	1,409	1,508	1,678	1,221	1,772	2,004	2,607	2,272	2,065	2,279	2,393	2,638	2,559
OPM %	73%	68%	70%	49%	67%	68%	69%	65%	65%	64%	63%	62%	60%
Other Income	72	87	99	677	181	165	242	260	306	256	380	515	543
Interest	5	3	2	2	1	1	2	13	27	33	9	9	8
Depreciation	442	478	615	497	400	450	663	700	404	306	486	532	555
Profit before tax	1,035	1,113	1,159	1,399	1,551	1,718	2,185	1,819	1,941	2,195	2,278	2,613	2,539
Tax %	32%	33%	32%	34%	34%	34%	34%	24%	21%	25%	25%	26%
Net Profit	712	757	796	922	1,031	1,136	1,434	1,385	1,525	1,642	1,707	1,926	1,893
EPS in Rs	18.01	18.98	19.84	23.39	26.14	28.80	36.37	35.15	38.70	41.66	43.30	48.85	48.03
Dividend Payout %	53%	50%	57%	66%	38%	35%	21%	71%	13%	33%	35%	34%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	6.32%	5.15%	15.83%	11.82%	10.18%	26.23%	-3.42%	10.11%	7.67%	3.96%	12.83%
Change in YoY Net Profit Growth (%)	0.00%	-1.17%	10.68%	-4.01%	-1.64%	16.05%	-29.65%	13.53%	-2.44%	-3.71%	8.87%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	3%
3 Years:	10%
TTM:	0%

Compounded Profit Growth
10 Years:	10%
5 Years:	7%
3 Years:	9%
TTM:	-1%

Stock Price CAGR
10 Years:	6%
5 Years:	9%
3 Years:	12%
1 Year:	-4%

Return on Equity
10 Years:	22%
5 Years:	21%
3 Years:	20%
Last Year:	19%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:34 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	197	197	197	197	197	197	197	197	197	197	197	197	197
Reserves	2,588	2,898	3,151	3,277	3,831	4,491	5,329	5,527	6,857	7,958	9,075	10,339	11,110
Borrowings	0	0	0	0	0	0	0	0	80	95	63	38	128
Other Liabilities	446	468	397	285	350	585	670	782	812	648	814	847	722
Total Liabilities	3,232	3,564	3,745	3,759	4,378	5,273	6,197	6,507	7,946	8,898	10,148	11,421	12,158
Fixed Assets	1,377	1,373	1,179	845	1,225	1,153	1,112	1,145	946	1,791	1,729	1,707	1,776
CWIP	3	2	2	1	2	49	13	66	146	244	131	145	2
Investments	244	472	506	636	1,148	2,147	2,801	2,692	3,504	3,589	5,512	7,061	8,072
Other Assets	1,609	1,717	2,058	2,278	2,004	1,923	2,271	2,603	3,351	3,274	2,775	2,508	2,309
Total Assets	3,232	3,564	3,745	3,759	4,378	5,273	6,197	6,507	7,946	8,898	10,148	11,421	12,158

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	869	1,195	1,162	1,299	1,296	1,371	1,824	1,656	1,464	1,634	2,096	2,171
Cash from Investing Activity +	-477	-786	-518	-401	-716	-1,294	-1,113	-406	-1,152	-1,026	-1,553	-1,313
Cash from Financing Activity +	-382	-431	-635	-737	-475	-475	-596	-1,222	-249	-603	-631	-697
Net Cash Flow	10	-22	9	160	104	-398	115	27	63	5	-88	161

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	1.00	1.00	1.00	1.00	1.00	2.00	2.00	2.00	-78.00	-93.00	-61.00	-36.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	111	103	115	115	107	131	109	142	165	149	143	107
Inventory Days
Days Payable
Cash Conversion Cycle	111	103	115	115	107	131	109	142	165	149	143	107
Working Capital Days	96	84	113	137	89	89	78	102	105	109	90	70
ROCE %	37%	36%	35%	32%	41%	39%	42%	30%	29%	27%	25%	26%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	8.95%	9.21%	9.32%	9.79%	10.44%	10.56%	10.39%	10.57%	9.01%	8.87%	7.89%	7.23%
DIIs	2.92%	4.18%	4.73%	3.94%	3.79%	3.61%	3.67%	4.47%	6.59%	6.50%	8.23%	10.00%
Public	13.13%	11.61%	10.95%	11.27%	10.77%	10.83%	10.95%	9.96%	9.40%	9.62%	8.89%	7.77%
No. of Shareholders	1,07,476	1,13,478	1,23,055	1,16,278	1,16,143	1,19,971	1,19,044	99,895	95,362	1,00,803	1,01,517	1,10,021

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Quant Small Cap Fund	10,312,446	3.32	847.58	2,400,000	2024-12-21	329.69%
Quant Active Fund	3,261,000	2.38	268.02	2,400,000	2024-12-21	35.88%
Kotak Equity Opportunities Fund - Regular Plan	2,400,000	0.78	197.26	2,400,000	2024-12-21	0%
Tata Equity P/E Fund - Regular Plan	1,945,000	1.77	159.86	2,400,000	2024-12-21	-18.96%
Tata Equity P/E Fund - Regular Plan - Trigger Option A 5%	1,945,000	1.77	159.86	2,400,000	2024-12-21	-18.96%
Quant Flexi Cap Fund	1,901,025	2.03	156.25	2,400,000	2024-12-21	-20.79%
Kotak Emerging Equity Fund - Regular Plan	1,619,607	0.26	133.12	2,400,000	2024-12-21	-32.52%
Kotak ELSS Tax Saver Fund	800,000	1.04	65.75	2,400,000	2024-12-21	-66.67%
ICICI Prudential Multicap Fund	673,898	0.39	55.39	2,400,000	2024-12-21	-71.92%
ICICI Prudential Large & Mid Cap Fund	660,423	0.33	54.28	2,400,000	2024-12-21	-72.48%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	48.86	43.31	41.66	38.70	35.16
Diluted EPS (Rs.)	48.86	43.31	41.66	38.70	35.16
Cash EPS (Rs.)	62.10	55.56	49.65	49.12	53.03
Book Value[Excl.RevalReserv]/Share (Rs.)	267.52	235.41	207.07	179.12	145.37
Book Value[Incl.RevalReserv]/Share (Rs.)	267.52	235.41	207.07	179.12	145.37
Revenue From Operations / Share (Rs.)	108.66	95.72	90.97	80.61	89.32
PBDIT / Share (Rs.)	79.76	70.29	64.54	60.35	64.37
PBIT / Share (Rs.)	66.27	57.96	56.77	50.10	46.60
PBT / Share (Rs.)	66.05	57.72	55.93	49.42	46.27
Net Profit / Share (Rs.)	48.61	43.22	41.88	38.87	35.26
NP After MI And SOA / Share (Rs.)	48.85	43.30	41.66	38.70	35.15
PBDIT Margin (%)	73.40	73.43	70.95	74.86	72.06
PBIT Margin (%)	60.98	60.55	62.41	62.14	52.17
PBT Margin (%)	60.78	60.30	61.48	61.30	51.80
Net Profit Margin (%)	44.73	45.15	46.04	48.21	39.48
NP After MI And SOA Margin (%)	44.95	45.23	45.79	48.00	39.35
Return on Networth / Equity (%)	18.27	18.40	20.13	21.62	24.19
Return on Capital Employeed (%)	24.67	24.49	27.17	27.73	31.14
Return On Assets (%)	16.85	16.81	18.45	19.19	21.28
Asset Turnover Ratio (%)	0.39	0.38	0.42	0.43	0.54
Current Ratio (X)	8.11	7.23	7.94	6.29	7.00
Quick Ratio (X)	8.11	7.23	7.94	6.29	7.00
Dividend Payout Ratio (NP) (%)	34.28	34.64	33.00	12.92	71.12
Dividend Payout Ratio (CP) (%)	26.86	26.96	27.81	10.21	47.24
Earning Retention Ratio (%)	65.72	65.36	67.00	87.08	28.88
Cash Earning Retention Ratio (%)	73.14	73.04	72.19	89.79	52.76
Interest Coverage Ratio (X)	367.19	294.06	76.49	88.54	198.95
Interest Coverage Ratio (Post Tax) (X)	224.78	181.83	50.64	58.02	109.99
Enterprise Value (Cr.)	23279.86	15784.97	18183.36	17458.82	10560.45
EV / Net Operating Revenue (X)	5.44	4.18	5.07	5.50	3.00
EV / EBITDA (X)	7.41	5.70	7.15	7.34	4.16
MarketCap / Net Operating Revenue (X)	5.53	4.34	5.39	5.83	3.20
Retention Ratios (%)	65.71	65.35	66.99	87.07	28.87
Price / BV (X)	2.25	1.77	2.37	2.63	1.97
Price / Net Operating Revenue (X)	5.53	4.34	5.39	5.83	3.20
EarningsYield	0.08	0.10	0.08	0.08	0.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 850.81

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 22.07% compared to the current share price 697.00

Default values used*: Default value of 15 for Stock P/E is used

Intrinsic Value of as of December 22, 2024 is: 888.37

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 27.46% compared to the current share price 697.00

Default values used*: Default value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: 4.41%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 33.25%, which is a positive sign. The company has higher reserves (5,879.31 cr) compared to borrowings (31.08 cr), indicating strong financial stability. The company has shown consistent growth in sales (2.62 cr) and profit (1.38 cr) over the years.	The stock has a high average Working Capital Days of 96.83, which may not be favorable. The stock has a high average Cash Conversion Cycle of 124.75, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 44.73%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 24.67% (Industry Average ROCE: 13.15%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 18.27% (Industry Average ROE: 13.14%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 224.78
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 8.11
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 15 (Industry average Stock P/E: 7.5)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Sun TV Network Ltd. is a Public Limited Listed company incorporated on 18/12/1985 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L22110TN1985PLC012491 and registration number is 012491. Currently Company is involved in the business activities of Radio broadcasting. Company’s Total Operating Revenue is Rs. 3504.88 Cr. and Equity Capital is Rs. 197.04 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Entertainment & Media	Murasoli Maran Towers, Chennai (Madras) Tamil Nadu 600028	tvinfo@sunnetwork.in http://www.suntv.in

Management
Name	Position Held
Mr. Kalanithi Maran	Executive Chairman
Mr. R Mahesh Kumar	Managing Director
Mr. K Vijaykumar	Executive Director
Ms. Kaviya Kalanithi Maran	Executive Director
Mrs. Kavery Kalanithi	Executive Director
Mr. S Selvam	Non Executive Director
Mr. R Ravivenkatesh	Independent Director
Mr. M K Harinarayanan	Independent Director
Mrs. Mathipoorana Ramakrishnan	Independent Director
Mr. Nicholas Martin Paul	Independent Director
Mr. Sridhar Venkatesh	Independent Director
Mr. Desmond Hemanth Theodore	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹850.81, which is 22.07% higher than the current market price of ₹697.00. The stock has a market capitalization of 27,462 Cr. and recorded a high/low of 922/568 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹11,110 Cr and total liabilities of ₹12,158 Cr.

What is the Market Cap of ?

The Market Cap of is 27,462 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 697.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 922/568.

What is the Stock P/E of ?

The Stock P/E of is 15.0.

What is the Book Value of ?

The Book Value of is 287.

What is the Dividend Yield of ?

The Dividend Yield of is 2.40 %.

What is the ROCE of ?

The ROCE of is 26.2 %.

What is the ROE of ?

The ROE of is 19.3 %.

What is the Face Value of ?

The Face Value of is 5.00.