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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Sun TV Network Ltd

About the Company - Sun TV Network Ltd

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.
Entertainment & MediaMurasoli Maran Towers, 73, MRC Nagar Main Road, Chennai (Madras) Tamil Nadu
NamePosition Held
Mr. Kalanithi MaranExecutive Chairman
Mr. R Mahesh KumarManaging Director
Ms. Kaviya Kalanithi MaranExecutive Director
Mr. K VijaykumarExecutive Director
Mrs. Kavery KalanithiExecutive Director
Mr. S SelvamNon Executive Director
Mr. R RavivenkateshIndependent Director
Mr. M K HarinarayananIndependent Director
Mrs. Mathipoorana RamakrishnanIndependent Director
Mr. Nicholas Martin PaulIndependent Director
Mr. Sridhar VenkateshIndependent Director
Mr. Desmond Hemanth TheodoreIndependent Director

Sun TV Network Ltd. Share Price Update

Share PriceValue
Previous Day₹638.70

Basic Stock Data of Sun TV Network Ltd

Market Cap 25,001 Cr.
Current Price 634
High / Low735/394
Stock P/E13.2
Book Value 256
Dividend Yield2.36 %
ROCE25.5 %
ROE19.2 %
Face Value 5.00

Data Source:

Competitors of Sun TV Network Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Padmalaya Telefilms Ltd 6.02 Cr. 3.544.45/1.71 9.710.00 %0.72 %0.72 % 10.0
Mukta Arts Ltd 200 Cr. 88.599.0/41.6 8.840.00 %3.43 %% 5.00
Vertoz Advertising Ltd 1,314 Cr. 828842/18581.9 80.20.00 %19.0 %14.9 % 10.0
New Delhi Television Ltd (NDTV) 1,740 Cr. 270308/167 42.90.00 %18.6 %15.7 % 4.00
Music Broadcast Ltd 793 Cr. 23.025.4/9.55255 15.20.00 %1.35 %0.46 % 2.00
Industry Average200.2 Cr242.6167.3831.370%8.62%6.36%6.2

Sun TV Network Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Operating Profit495608551447526735564770537584498797728
OPM %64%61%69%55%62%69%66%63%65%66%59%59%69%
Other Income546593866948611048910091122112
Profit before tax450596543492530623550658544569507827619
Tax %25%25%10%26%25%24%25%25%25%25%25%28%25%
Net Profit335445488365396471410494407425380592465
EPS in Rs8.5011.3112.379.2710.0311.9510.4112.5310.3410.789.6515.0211.79

Sun TV Network Ltd Quarterly Chart

Sun TV Network Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Operating Profit1,4141,4091,5081,6781,2211,7722,0042,6072,2722,0652,2792,3932,607
OPM %77%73%68%70%49%67%68%69%65%65%64%63%63%
Other Income80728799677181165242260306256380425
Profit before tax1,0141,0351,1131,1591,3991,5511,7182,1851,8191,9412,1952,2782,522
Tax %33%32%33%32%34%34%34%34%24%21%25%25%
Net Profit6917127577969221,0311,1361,4341,3851,5251,6421,7071,862
EPS in Rs17.5818.0118.9819.8423.3926.1428.8036.3735.1538.7041.6643.3047.24
Dividend Payout %54%53%50%57%66%38%35%21%71%13%33%35%

Sun TV Network Ltd Profit & Loss Yearly Chart

Sun TV Network Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:5%
3 Years:2%
Compounded Profit Growth
10 Years:9%
5 Years:9%
3 Years:10%
Stock Price CAGR
10 Years:6%
5 Years:4%
3 Years:5%
1 Year:39%
Return on Equity
10 Years:23%
5 Years:22%
3 Years:21%
Last Year:19%

Sun TV Network Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital197197197197197197197197197197197197197
Other Liabilities394446468397285350585670782812648814718
Total Liabilities2,9063,2323,5643,7453,7594,3785,2736,1976,5077,9468,89810,14810,853
Fixed Assets1,2461,3771,3731,1798451,2251,1531,1121,1459461,7911,7291,810
Other Assets1,4331,6091,7172,0582,2782,0041,9232,2712,6033,3513,2742,7752,567
Total Assets2,9063,2323,5643,7453,7594,3785,2736,1976,5077,9468,89810,14810,853

Sun TV Network Ltd Reserves and Borrowings Chart

Sun TV Network Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 8768691,1951,1621,2991,2961,3711,8241,6561,4641,6342,096
Cash from Investing Activity -346-477-786-518-401-716-1,294-1,113-406-1,152-1,026-1,553
Cash from Financing Activity -578-382-431-635-737-475-475-596-1,222-249-603-631
Net Cash Flow-4710-229160104-39811527635-88

Sun TV Network Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days101111103115115107131109142165149143
Inventory Days
Days Payable
Cash Conversion Cycle101111103115115107131109142165149143
Working Capital Days80968411313789897810210510990
ROCE %41%37%36%35%32%41%39%42%30%29%27%25%

Sun TV Network Ltd Financial Efficiency Indicators Chart

Sun TV Network Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
No. of Shareholders1,10,7301,12,1531,22,0581,07,4761,13,4781,23,0551,16,2781,16,1431,19,9711,19,04499,89595,362

Sun TV Network Ltd Shareholding Pattern Chart

No. of Sun TV Network Ltd Shareholders

Sun TV Network Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Equity Opportunities Fund - Regular Plan24000000.96170.93
Kotak Multicap Fund21879901.93155.83
Quant ELSS Tax Saver Fund20545442.28146.32
Tata Equity P/E Fund - Regular Plan19450001.98138.52
Tata Equity P/E Fund - Regular Plan - Trigger Option A 5%19450001.98138.52
Kotak Emerging Equity Fund - Regular Plan16196070.3115.35
Quant Mid Cap Fund16095532.71114.63
Aditya Birla Sun Life Midcap Fund8000001.1556.98
Edelweiss Arbitrage Fund7710000.6954.91
Kotak ELSS Tax Saver Fund7500001.1453.42

Sun TV Network Ltd ROCE Trend

Sun TV Network Ltd EPS Trend

Sun TV Network Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
Basic EPS (Rs.)43.3141.6638.7035.1636.38
Diluted EPS (Rs.)43.3141.6638.7035.1636.38
Cash EPS (Rs.)55.5649.6549.1253.0352.81
Book Value[Excl.RevalReserv]/Share (Rs.)235.41207.07179.12145.37140.35
Book Value[Incl.RevalReserv]/Share (Rs.)235.41207.07179.12145.37140.35
Revenue From Operations / Share (Rs.)95.7290.9780.6189.3295.98
PBDIT / Share (Rs.)70.2964.5460.3564.3771.91
PBIT / Share (Rs.)57.9656.7750.1046.6055.09
PBT / Share (Rs.)57.7255.9349.4246.2755.05
Net Profit / Share (Rs.)43.2241.8838.8735.2635.99
NP After MI And SOA / Share (Rs.)43.3041.6638.7035.1536.37
PBDIT Margin (%)73.4370.9574.8672.0674.91
PBIT Margin (%)60.5562.4162.1452.1757.39
PBT Margin (%)60.3061.4861.3051.8057.35
Net Profit Margin (%)45.1546.0448.2139.4837.49
NP After MI And SOA Margin (%)45.2345.7948.0039.3537.89
Return on Networth / Equity (%)18.4020.1321.6224.1925.93
Return on Capital Employeed (%)24.4927.1727.7331.1438.43
Return On Assets (%)16.8118.4519.1921.2823.12
Asset Turnover Ratio (%)0.380.420.430.540.64
Current Ratio (X)7.237.946.297.007.37
Quick Ratio (X)7.237.946.297.007.37
Dividend Payout Ratio (NP) (%)34.6433.0012.9271.1234.36
Dividend Payout Ratio (CP) (%)26.9627.8110.2147.2423.50
Earning Retention Ratio (%)65.3667.0087.0828.8865.64
Cash Earning Retention Ratio (%)73.0472.1989.7952.7676.50
Interest Coverage Ratio (X)294.0676.4988.54198.951717.45
Interest Coverage Ratio (Post Tax) (X)181.8350.6458.02109.99860.56
Enterprise Value (Cr.)15784.9718183.3617458.8210560.4524122.21
EV / Net Operating Revenue (X)
EV / EBITDA (X)5.707.157.344.168.51
MarketCap / Net Operating Revenue (X)4.345.395.833.206.53
Retention Ratios (%)65.3566.9987.0728.8765.63
Price / BV (X)1.772.372.631.974.47
Price / Net Operating Revenue (X)4.345.395.833.206.53

Sun TV Network Ltd Profitability Ratios (%)

Sun TV Network Ltd Liquidity Ratios

Sun TV Network Ltd Liquidity Ratios (%)

Sun TV Network Ltd Interest Coverage Ratios (X)

Sun TV Network Ltd Valuation Ratios

Fair Value / Intrinsic Value of Sun TV Network Ltd

Fair Value: ₹664.12

The stock is undervalued by 4.75% compared to the current price ₹634

*Investments are subject to market risks

Strength and Weakness of Sun TV Network Ltd

  1. The stock has a high average ROCE of 34.50%, which is a positive sign.
  2. The company has higher reserves (5,167.85 cr) compared to borrowings (22.31 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (2.38 cr) and profit (1.31 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 53.30 and average Dividend Yield of 58.93%.
  2. The stock has a high average Working Capital Days of 97.67, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 124.25, which may not be favorable.

Should I Buy Sun TV Network Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Sun TV Network Ltd:
    1. Net Profit Margin: 45.15%
      • 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: 24.49% (Industry Average ROCE: 17.87%)
      • 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. Interest Coverage Ratio (Post Tax): 181.83
      • 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.
    4. Quick Ratio: 7.23
      • 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.
    5. ✗ Stock P/E: 13.0 (Industry average Stock P/E: 0)
      • 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.
    6. ✗ Total Debt / Equity: N/A
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Sun TV Network Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE