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Last Updated on: 20 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 505537 | NSE: ZEEL

Fundamental Analysis of Zee Entertainment Enterprises Ltd

Basic Stock Data

Last Updated: April 19, 2024, 11:33 am

Market Cap 13,707 Cr.
Current Price 143
High / Low300/138
Stock P/E63.0
Book Value 112
Dividend Yield0.00 %
ROCE7.94 %
ROE0.35 %
Face Value 1.00

Data Source: screener.in

Competitors of Zee Entertainment Enterprises Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Network 18 Media & Investments Ltd 8,993 Cr. 85.9136/53.5 1250.00 %2.20 %2.21 % 5.00
Dish TV India Ltd 3,268 Cr. 17.826.0/13.415.6 4.150.00 %70.5 %430 % 1.00
Diligent Media Corporation Ltd 49.4 Cr. 4.207.17/2.453.45 33.00.00 %%% 1.00
Siti Networks Ltd 61.0 Cr. 0.701.20/0.55 8.900.00 %49.9 %% 1.00
Zee Media Corporation Ltd 681 Cr. 10.918.3/7.35 5.290.00 %1.91 %10.6 % 1.00
Industry Average2,610.48 Cr23.903.8135.270.00%24.90%88.56%1.80

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales2,7291,9661,7751,9792,1132,3221,8432,0242,1092,1121,9842,4382,046
Expenses2,0981,4041,4411,5751,6391,7971,5751,7091,7371,9601,8252,1051,836
Operating Profit632562334403474525268315372152159333209
OPM %23%29%19%20%22%23%15%16%18%7%8%14%10%
Other Income28-1130182-99-20-54-187-199-113-55-27
Interest249223388101340232318
Depreciation65635960596071748483797776
Profit before tax59243930335941432816917788-170-5717787
Tax %33%38%31%26%28%45%37%36%72%-15%6%31%33%
Net Profit39827220926629918210711324-196-5312359
EPS in Rs4.162.872.232.813.111.891.111.180.25-2.04-0.561.280.61

Last Updated: April 10, 2024, 5:24 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 6, 2024, 1:31 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3,0403,7004,4224,8845,8126,4346,6867,9348,1307,7308,1868,0888,579
Expenses2,2912,7433,2153,6244,3864,7114,6055,3706,8706,1236,4096,9817,727
Operating Profit7499571,2071,2601,4271,7232,0812,5641,2601,6061,7771,107853
OPM %25%26%27%26%25%27%31%32%15%21%22%14%10%
Other Income1281441782221831,430565236112-29-111-460-394
Interest591610160137145130145574470105
Depreciation3240506778115182235271265221313315
Profit before tax8411,0521,3191,4041,3732,9012,3192,4349561,2561,40026438
Tax %30%32%33%31%40%23%36%36%45%37%32%82%
Net Profit5917178909728242,2201,4781,56752579395648-68
EPS in Rs6.147.549.2910.188.5723.1315.4016.325.488.3310.040.50-0.71
Dividend Payout %24%27%24%22%26%11%19%21%5%30%30%804%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)21.32%24.13%9.21%-15.23%169.42%-33.42%6.02%-66.50%51.05%20.55%-94.98%
Change in YoY Net Profit Growth (%)0.00%2.81%-14.91%-24.44%184.64%-202.84%39.45%-72.52%117.54%-30.49%-115.53%

Growth

Compounded Sales Growth
10 Years:8%
5 Years:4%
3 Years:0%
TTM:3%
Compounded Profit Growth
10 Years:-25%
5 Years:-52%
3 Years:-61%
TTM:-71%
Stock Price CAGR
10 Years:-6%
5 Years:-18%
3 Years:-9%
1 Year:-28%
Return on Equity
10 Years:13%
5 Years:9%
3 Years:6%
Last Year:0%

Last Updated: April 16, 2024, 6:12 pm

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital96959696969696969696969696
Reserves3,3403,8162,6253,4354,7086,5947,4668,8289,2489,99810,76710,62610,694
Preference Capital002,0172,019001,144741298000
Borrowings23321,7162,20338237435242376282252
Other Liabilities8781,1603,3083,4731,4461,3643,1863,6362,7222,3012,3002,7242,756
Total Liabilities4,3155,0746,0327,0067,96610,25811,13012,93312,41812,81913,24013,72813,798
Fixed Assets9209911,0731,1381,3339161,4761,4141,3151,1911,2251,3601,288
CWIP20710088110156921568375871914
Investments8007928299761,1481,3431,529976325798653539
Other Assets2,5763,2854,0304,8055,3757,8438,03310,38610,69510,75411,86212,31512,456
Total Assets4,3155,0746,0327,0067,96610,25811,13012,93312,41812,81913,24013,72813,798

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 4083873836817317415541352501,548280129
Cash from Investing Activity -1646-205-165161,325-1,041864397-511586-202
Cash from Financing Activity -449-229-144-343-405-414-1,090-966-1,062-541-715-408
Net Cash Flow-57204341733421,652-1,57733-415496150-481

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow749.00957.00-1.00-1.001.001.001.00-739.00-297.001.001.001.00

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

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days1049885808570848496927773
Inventory Days526617624644824877
Days Payable230239196167177210
Cash Conversion Cycle1049885808570380463524569725740
Working Capital Days142132156152147151180236294296341354
ROCE %26%28%31%27%26%24%26%27%14%14%16%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%
FIIs64.15%57.46%57.18%52.21%47.86%39.18%38.65%37.33%36.39%33.40%35.00%28.19%
DIIs12.40%18.47%15.98%20.87%24.19%30.51%31.30%37.33%38.03%40.62%42.07%43.42%
Government0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%
Public19.31%19.93%22.70%22.78%23.81%26.17%25.93%21.20%21.43%21.85%18.80%24.24%
No. of Shareholders2,70,5632,60,3664,13,5433,75,6454,03,8854,33,1884,18,4564,19,0414,14,8154,63,8303,97,7434,08,518

Shareholding Pattern Chart

No. of Shareholders

Zee Entertainment Enterprises Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Nippon India Multi Cap Fund100000000.67173.1
Nippon India Growth Fund82570000.59142.93
Nippon India Arbitrage Fund78540001.04135.95
DSP Arbitrage Fund73890003.38127.9
Invesco India Arbitrage Fund46230001.07126.99
SBI Arbitrage Opportunities Fund68010000.44117.73
Nippon India Large Cap Fund50000000.486.55
Edelweiss Arbitrage Fund27450000.5847.52
UTI Arbitrage Fund27150001.0547
DSP Dynamic Asset Allocation Fund25860001.4144.76

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)2.6210.048.335.4816.32
Diluted EPS (Rs.)2.6210.048.335.4816.32
Cash EPS (Rs.)3.7512.5011.018.3118.74
Book Value[Excl.RevalReserv]/Share (Rs.)111.57113.04105.1897.4593.11
Book Value[Incl.RevalReserv]/Share (Rs.)111.57113.04105.1897.4593.11
Revenue From Operations / Share (Rs.)84.1685.2280.4484.6982.64
PBDIT / Share (Rs.)12.3519.1417.7317.2829.36
PBIT / Share (Rs.)9.0916.5814.9814.4626.92
PBT / Share (Rs.)4.8714.7313.079.9925.33
Net Profit / Share (Rs.)0.499.948.255.4916.30
NP After MI And SOA / Share (Rs.)0.4910.048.335.4816.32
PBDIT Margin (%)14.6722.4622.0420.4035.53
PBIT Margin (%)10.8019.4618.6217.0732.57
PBT Margin (%)5.7817.2816.2411.7930.65
Net Profit Margin (%)0.5911.6710.266.4819.72
NP After MI And SOA Margin (%)0.5911.7710.356.4719.75
Return on Networth / Equity (%)0.448.877.925.6317.56
Return on Capital Employeed (%)7.8914.4513.9914.0926.32
Return On Assets (%)0.347.286.244.2512.11
Long Term Debt / Equity (X)0.000.000.000.010.00
Total Debt / Equity (X)0.000.000.000.010.00
Asset Turnover Ratio (%)0.590.600.560.610.62
Current Ratio (X)4.295.034.234.033.32
Quick Ratio (X)1.542.152.101.922.08
Dividend Payout Ratio (NP) (%)0.0024.893.5963.8517.77
Dividend Payout Ratio (CP) (%)0.0019.832.7042.1715.45
Earning Retention Ratio (%)0.0075.1196.4136.1582.23
Cash Earning Retention Ratio (%)0.0080.1797.3057.8384.55
Interest Coverage Ratio (X)16.9040.7929.8511.4521.62
Interest Coverage Ratio (Post Tax) (X)9.3625.1517.116.6013.17
Enterprise Value (Cr.)19546.2726431.0318464.4211530.6042188.20
EV / Net Operating Revenue (X)2.423.232.391.425.32
EV / EBITDA (X)16.4714.3710.836.9514.97
MarketCap / Net Operating Revenue (X)2.523.382.531.465.38
Retention Ratios (%)0.0075.1096.4036.1482.22
Price / BV (X)1.902.551.931.274.78
Price / Net Operating Revenue (X)2.523.382.531.465.38
EarningsYield0.000.030.040.040.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 25.19

The stock is overvalued by 82.38% compared to the current price ₹143

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.

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 22.25%, which is a positive sign.
  2. The company has higher reserves (7,088.08 cr) compared to borrowings (478.38 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (5.92 cr) and profit (162.38 cr) over the years.
  1. The stock has a high average Working Capital Days of 215.08, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 326.92, which may not be favorable.

Stock Analysis

  • 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 Zee Entertainment Enterprises Ltd:
    1. Net Profit Margin: 0.59%
      • 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: 7.89% (Industry Average ROCE: 24.9%)
      • 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%: 0.44% (Industry Average ROE: 88.56%)
      • 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): 9.36
      • 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: 1.54
      • 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: 63.0 (Industry average Stock P/E: 3.81)
      • 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: 0.00
      • 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

Zee Entertainment Enterprises Ltd. is a Public Limited Listed company incorporated on 25/11/1982 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L92132MH1982PLC028767 and registration number is 028767. Currently Company is involved in the business activities of Television programming and broadcasting activities. Company’s Total Operating Revenue is Rs. 7511.10 Cr. and Equity Capital is Rs. 96.10 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Entertainment & Media18th Floor, A Wing, Marathon Futurex, Mumbai Maharashtra 400013shareservice@zee.com
http://www.zee.com
Management
NamePosition Held
Dr. Subhash ChandraChairman Emeritus
Mr. R GopalanChairman & Ind.Director
Mr. Punit GoenkaManaging Director & CEO
Mr. Adesh Kumar GuptaNon Exe.Non Ind.Director
Mr. Sasha MirchandaniIndependent Director
Mr. Vivek MehraIndependent Director
Ms. Deepu BansalIndependent Director

Zee Entertainment Enterprises Ltd. Share Price Update

Share PriceValue
Today₹142.85
Previous Day₹144.95

FAQ

What is the latest fair value of Zee Entertainment Enterprises Ltd?

The latest fair value of Zee Entertainment Enterprises Ltd is 25.19.

What is the Market Cap of Zee Entertainment Enterprises Ltd?

The Market Cap of Zee Entertainment Enterprises Ltd is 13,707 Cr..

What is the current Stock Price of Zee Entertainment Enterprises Ltd as on 20 April 2024?

The current stock price of Zee Entertainment Enterprises Ltd as on 20 April 2024 is 143.

What is the High / Low of Zee Entertainment Enterprises Ltd stocks in FY 2024?

In FY 2024, the High / Low of Zee Entertainment Enterprises Ltd stocks is ₹300/138.

What is the Stock P/E of Zee Entertainment Enterprises Ltd?

The Stock P/E of Zee Entertainment Enterprises Ltd is 63.0.

What is the Book Value of Zee Entertainment Enterprises Ltd?

The Book Value of Zee Entertainment Enterprises Ltd is 112.

What is the Dividend Yield of Zee Entertainment Enterprises Ltd?

The Dividend Yield of Zee Entertainment Enterprises Ltd is 0.00 %.

What is the ROCE of Zee Entertainment Enterprises Ltd?

The ROCE of Zee Entertainment Enterprises Ltd is 7.94 %.

What is the ROE of Zee Entertainment Enterprises Ltd?

The ROE of Zee Entertainment Enterprises Ltd is 0.35 %.

What is the Face Value of Zee Entertainment Enterprises Ltd?

The Face Value of Zee Entertainment Enterprises Ltd is 1.00.

About the Author

Author Avatar
Getaka

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 Zee Entertainment Enterprises 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 getaka.co.in 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