New Risk • 18h
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 29% Last year net profit margin: 42% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (33% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (29% net profit margin). Reported Earnings • 18h
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹36.56 (down from ₹43.21 in FY 2025). Revenue: ₹49.0b (up 21% from FY 2025). Net income: ₹14.4b (down 16% from FY 2025). Profit margin: 29% (down from 42% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Media industry in India are expected to grow by 8.4%. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Annonce • May 14
Sun TV Network Limited to Report Q4, 2026 Results on May 21, 2026 Sun TV Network Limited announced that they will report Q4, 2026 results on May 21, 2026 Buy Or Sell Opportunity • Apr 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to ₹652. The fair value is estimated to be ₹541, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has declined by 3.4%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are also forecast to grow by 7.0% per annum over the same time period. Declared Dividend • Mar 09
Dividend of ₹1.25 announced Shareholders will receive a dividend of ₹1.25. Ex-date: 12th March 2026 Payment date: 5th April 2026 Dividend yield will be 2.1%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Declared Dividend • Feb 09
Third quarter dividend of ₹2.50 announced Shareholders will receive a dividend of ₹2.50. Ex-date: 12th February 2026 Payment date: 8th March 2026 Dividend yield will be 2.6%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: ₹8.23 (down from ₹9.22 in 3Q 2025). Revenue: ₹9.99b (up 21% from 3Q 2025). Net income: ₹3.24b (down 11% from 3Q 2025). Profit margin: 32% (down from 44% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annonce • Jan 30
Sun TV Network Limited to Report Q3, 2026 Results on Feb 06, 2026 Sun TV Network Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Feb 06, 2026 Reported Earnings • Nov 16
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹9.00 (down from ₹10.39 in 2Q 2025). Revenue: ₹14.4b (up 54% from 2Q 2025). Net income: ₹3.54b (down 13% from 2Q 2025). Profit margin: 25% (down from 44% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • Nov 05
Sun TV Network Limited to Report Q2, 2026 Results on Nov 14, 2025 Sun TV Network Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Buy Or Sell Opportunity • Oct 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.5% to ₹577. The fair value is estimated to be ₹476, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Buy Or Sell Opportunity • Oct 01
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to ₹602. The fair value is estimated to be ₹475, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Annonce • Aug 28
Sun TV Network Limited, Annual General Meeting, Sep 19, 2025 Sun TV Network Limited, Annual General Meeting, Sep 19, 2025, at 10:00 Indian Standard Time. Buy Or Sell Opportunity • Aug 12
Now 21% overvalued Over the last 90 days, the stock has fallen 7.4% to ₹577. The fair value is estimated to be ₹476, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Declared Dividend • Aug 09
First quarter dividend of ₹5.00 announced Shareholders will receive a dividend of ₹5.00. Ex-date: 13th August 2025 Payment date: 6th September 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 08
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: ₹13.43 (down from ₹14.20 in 1Q 2025). Revenue: ₹14.8b (up 13% from 1Q 2025). Net income: ₹5.29b (down 5.4% from 1Q 2025). Profit margin: 36% (down from 43% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.0%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Annonce • Aug 01
Sun TV Network Limited to Report Q1, 2026 Results on Aug 07, 2025 Sun TV Network Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Annonce • Jul 31
Sun TV Network Limited (NSEI: SUNTV) completed the acquisition of Northern Superchargers from Yorkshire County Cricket Club Ltd and England & Wales Cricket Board Ltd. Sun TV Network Limited (NSEI: SUNTV) agreed to acquire Northern Superchargers from Yorkshire County Cricket Club Ltd and England & Wales Cricket Board Ltd for £100.5 million on February 5, 2025. SUN Group will acquire 100% stake in Northern Superchargers, purchasing both the England and Wales Cricket Board's (ECB) 49% share and Yorkshire County Cricket Club Ltd's 51% share. Upon closing, Yorkshire County Cricket Club Ltd will keep 80% of the revenue from the sale of their 51% stake, which will provide the club with an injection of around £40 million.
The transaction is subject to approval by regulatory board/ committee. The transaction is subject to approval of board of directors of Sun TV Network Limited . As on July 18, 2025, the transaction is approved by board of directors of Sun TV Network Limited.
Sun TV Network Limited (NSEI: SUNTV) completed the acquisition of Northern Superchargers from Yorkshire County Cricket Club Ltd and England & Wales Cricket Board Ltd on July 30, 2025. Reported Earnings • May 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹43.23 (down from ₹48.85 in FY 2024). Revenue: ₹47.1b (up 9.7% from FY 2024). Net income: ₹17.0b (down 12% from FY 2024). Profit margin: 36% (down from 45% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 5.2%. Revenue is forecast to stay flat during the next 3 years compared to a 9.8% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 23
Sun TV Network Limited to Report Q4, 2025 Results on May 30, 2025 Sun TV Network Limited announced that they will report Q4, 2025 results on May 30, 2025 Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹667, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Media industry in India. Total returns to shareholders of 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹876 per share. Price Target Changed • Feb 10
Price target decreased by 7.2% to ₹787 Down from ₹848, the current price target is an average from 11 analysts. New target price is 25% above last closing price of ₹631. Stock is up 4.1% over the past year. The company is forecast to post earnings per share of ₹45.34 for next year compared to ₹48.85 last year. Declared Dividend • Feb 10
Third quarter dividend of ₹2.50 announced Shareholders will receive a dividend of ₹2.50. Ex-date: 13th February 2025 Payment date: 9th March 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 08
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: ₹9.22 (down from ₹11.52 in 3Q 2024). Revenue: ₹9.68b (up 4.8% from 3Q 2024). Net income: ₹3.63b (down 20% from 3Q 2024). Profit margin: 38% (down from 49% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.4%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 7% per year. Annonce • Feb 03
Sun TV Network Limited to Report Q3, 2025 Results on Feb 07, 2025 Sun TV Network Limited announced that they will report Q3, 2025 results on Feb 07, 2025 Annonce • Jan 02
Sun Tv Network Limited Announces Directorate Appointments Sun TV Network Limited approved the appointment of Mr. Ravivenkatesh Pragadish Karthik, Mr. Mandalapu Harinarayanan Harshavardhan and Mrs. Jagadeesan Gayathri as the Non-Executive Independent Director of the Company. Declared Dividend • Nov 15
Second quarter dividend of ₹5.00 announced Shareholders will receive a dividend of ₹5.00. Ex-date: 26th November 2024 Payment date: 13th December 2024 Dividend yield will be 2.1%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Nov 14
Sun TV Network Limited Approves Interim Dividend for the Financial Year 2024-25 Sun TV Network Limited announced that at its board meeting held on November 13, 2024, the board approved the interim dividend of INR 5 per equity share of INR 5 each (that is 100%) for the financial year 2024-25. This is to informed that 22nd November, 2024 shall be the Record Date for the Interim Dividend if any, declared at the Board Meeting to be held on 13th November, 2024. The Payment for the Interim Dividend if any, declared shall be paid within 30 days from the date of declaration-as per the provisions of Companies Act 2013. Reported Earnings • Nov 14
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: ₹10.39 (down from ₹11.80 in 2Q 2024). Revenue: ₹11.1b (up 5.5% from 2Q 2024). Net income: ₹4.09b (down 12% from 2Q 2024). Profit margin: 37% (down from 44% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 08
Sun TV Network Limited to Report Q2, 2025 Results on Nov 13, 2024 Sun TV Network Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Annonce • Oct 14
Sun Tv Network Limited Announces Demise of Shanmugasundaram Selvam Non-Executive Non Independent Director Sun TV Network Limited announced demise of Shanmugasundaram Selvam Non-Executive Non Independent Director, on 10th October 2024. Annonce • Aug 30
Sun TV Network Limited, Annual General Meeting, Sep 20, 2024 Sun TV Network Limited, Annual General Meeting, Sep 20, 2024, at 10:00 Indian Standard Time. Price Target Changed • Aug 13
Price target increased by 11% to ₹871 Up from ₹783, the current price target is an average from 12 analysts. New target price is 6.4% above last closing price of ₹819. Stock is up 49% over the past year. The company is forecast to post earnings per share of ₹50.63 for next year compared to ₹48.86 last year. Declared Dividend • Aug 11
First quarter dividend of ₹5.00 announced Shareholders will receive a dividend of ₹5.00. Ex-date: 20th August 2024 Payment date: 8th September 2024 Dividend yield will be 1.7%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 10
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ₹14.20 (down from ₹15.02 in 1Q 2024). Revenue: ₹14.6b (up 8.2% from 1Q 2024). Net income: ₹5.60b (down 5.5% from 1Q 2024). Profit margin: 38% (down from 44% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.3%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 10
Sun TV Network Limited Declares Interim Dividend for the Financial Year 2024-2025 Sun TV Network Limited at the Board of Directors at their meeting held on August 9, 2024, declared an interim dividend of INR 5 per equity share of INR 5 each (100%) for the financial year 2024-2025. Record date is August 20, 2024. The dividend shall be paid within 30 days from the date of declaration as per the provisions of companies act 2013. Annonce • Aug 07
Sun Tv Network Appoints Nitish Sharma as Business Head of Its Hindi General Entertainment Channel (Gec) Sun Neo Sun TV Network has appointed Nitish Sharma as a business head of its Hindi General Entertainment Channel (GEC) Sun Neo. Sources close to the development have confirmed the news to e4m. Sharma was associated with Zee Entertainment Enterprises Ltd. (ZEEL) for over three years where he was designated as Business Head and Chief Channel officer- Zee Anmol & Big Magic. Prior joining Sun TV, Sharma was associated with Zee Entertainment Enterprises Ltd. (ZEEL) for over three years where he was designated as Business Head and Chief Channel officer- Zee Anmol & Big Magic. He joined Zeel in 2021 as business head of Big Magic. Sharma will be reporting to Aparna Bhosle, who joined Sun TV Network in June as HGEC and RHSM channels and strategic alliance. Sharma has also worked with companies like Sony Pictures Network India, Star Sports and Aditya Birla Group. Annonce • Aug 01
Sun TV Network Limited to Report Q1, 2025 Results on Aug 09, 2024 Sun TV Network Limited announced that they will report Q1, 2025 results on Aug 09, 2024 Recent Insider Transactions • Jun 25
Non-Executive Director recently sold ₹10.0m worth of stock On the 21st of June, S. Selvam sold around 13k shares on-market at roughly ₹766 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹17m. Insiders have been net sellers, collectively disposing of ₹69m more than they bought in the last 12 months. Annonce • Jun 24
Aparna Bhosle Joins Sun Tv Network as Head of HGEC/RHSM Channels Sun TV Network Limited announced that Aparna Bhosle as the Head of HGEC/RHSM Channels and Strategic Alliances. Bhosle brings nearly three decades of experience to her new role. Bhosle spent over a decade with Zee Entertainment Enterprises Ltd, holding various leadership positions. Her extensive career also includes roles at Reckitt & Colman, Diageo, Wisden India, The Walt Disney Company, and Astro Malaysia. Bhosle's vast experience in the media and entertainment industry is expected to bring valuable insights and strategic direction to Sun TV Network's operations. Recent Insider Transactions • Jun 14
Non-Executive Director recently sold ₹8.1m worth of stock On the 6th of June, S. Selvam sold around 11k shares on-market at roughly ₹729 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹13m. Insiders have been net sellers, collectively disposing of ₹38m more than they bought in the last 12 months. Price Target Changed • Jun 14
Price target increased by 7.7% to ₹752 Up from ₹698, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of ₹759. Stock is up 71% over the past year. The company is forecast to post earnings per share of ₹51.77 for next year compared to ₹48.86 last year. Reported Earnings • May 25
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹48.86 (up from ₹43.30 in FY 2023). Revenue: ₹47.9b (up 27% from FY 2023). Net income: ₹19.3b (up 13% from FY 2023). Profit margin: 40% (down from 45% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.6%. Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year. Annonce • May 19
Sun TV Network Limited to Report Q4, 2024 Results on May 24, 2024 Sun TV Network Limited announced that they will report Q4, 2024 results on May 24, 2024 Upcoming Dividend • Apr 01
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 08 April 2024. Payment date: 27 April 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.5%. Within top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (2.1%). Annonce • Mar 28
Sun Tv Network Limited Approves Interim Dividend for the Financial Year 2023-24 Sun TV Network Limited announced at board meeting held on March 28, 2024, approved interim Dividend of INR 3 per equity share of INR 5 each for the financial year 2023-24. Buy Or Sell Opportunity • Feb 17
Now 20% overvalued Over the last 90 days, the stock has fallen 7.4% to ₹624. The fair value is estimated to be ₹520, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 8.1%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Reported Earnings • Feb 15
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: ₹11.52 (up from ₹10.79 in 3Q 2023). Revenue: ₹10.6b (up 19% from 3Q 2023). Net income: ₹4.54b (up 6.8% from 3Q 2023). Profit margin: 43% (down from 48% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 1.0%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year. Annonce • Feb 14
Sun TV Network Limited Declares Interim Dividend for the Financial Year 2023-24 Sun TV Network Limited announced that the Board of Directors at its meeting held on February 14, 2024, declared an interim dividend of INR 2.50 per equity share of INR 5.00 each (i.e. 50%) for the financial year 2023-24. Annonce • Feb 07
Sun TV Network Limited to Report Q3, 2024 Results on Feb 14, 2024 Sun TV Network Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Upcoming Dividend • Nov 14
Upcoming dividend of ₹5.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 21 November 2023. Payment date: 10 December 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 2.2%. Within top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (1.7%). Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: ₹11.80 (vs ₹10.33 in 2Q 2023) Second quarter 2024 results: EPS: ₹11.80 (up from ₹10.33 in 2Q 2023). Revenue: ₹10.5b (up 27% from 2Q 2023). Net income: ₹4.65b (up 14% from 2Q 2023). Profit margin: 44% (down from 49% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Annonce • Nov 04
Sun TV Network Limited to Report Q2, 2024 Results on Nov 10, 2023 Sun TV Network Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Annonce • Oct 07
Disney Reportedly Said to Be in Talks with Adani, Sun TV to Sell India Assets The Walt Disney Company (NYSE:DIS) is holding preliminary discussions with potential buyers for its India streaming and television business including billionaires Gautam Adani and Kalanithi Maran, according to people familiar with the matter. The US entertainment giant's senior executives have also gauged the interest of private equity funds considering the company is exploring a range of options, which could involve selling part of the Indian operations or a combination of the unit's assets including sports rights and regional streaming service Disney+ Hotstar, the people said, asking not to be identified because the discussions are private. Asset-sale talks have already been held with Reliance Industries Limited (NSEI:RELIANCE), controlled by Asia's richest person, Mukesh Ambani, Bloomberg News reported earlier on. Disney has been weighing strategic options for its business in India including an outright sale or setting up a joint venture, Bloomberg News reported in July after the unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media. Viacom is a joint venture between Reliance, Paramount Global and Uday Shankar's investment firm Bodhi Tree Systems. A potential acquisition could complement Maran's broadcasting company, Sun TV Network Limited (NSEI:SUNTV), while for the Adani Enterprises Limited (BSE:512599), it could help expand its newly acquired New Delhi Television Limited (NSEI:NDTV), the people said. They added that deliberations are still at a very preliminary stage and any deal may not happen. Representatives for Disney in India declined to comment. Sun TV Network Group Chief financial Officer S L Narayanan said the group doesn't comment on market rumours or speculation. A spokesperson for Adani also said they wouldn't comment on market speculation. Recent Insider Transactions • Sep 06
Non-Executive Independent Director recently sold ₹4.1m worth of stock On the 30th of August, R. Ravivenkatesh sold around 7k shares on-market at roughly ₹607 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹14m more than they bought in the last 12 months. Annonce • Sep 01
Sun TV Network Limited, Annual General Meeting, Sep 22, 2023 Sun TV Network Limited, Annual General Meeting, Sep 22, 2023, at 10:00 Indian Standard Time. Location: Murasoli Maran Towers, 73 MRC Nagar Main Road, MRC Nagar, Chennai-600028 Chennai India Agenda: To consider and approve the Audited Financial Statements of the Company prepared under Indian Accounting Standards (Ind-AS) as on a standalone and consolidated basis, for the financial year ended March 31, 2023 including the Balance Sheet and the Statement of Profit & Loss Account for the financial year ended on that date, and the Reports of the Board of Directors and Auditors thereon; to consider and approve the re-appointment of a Director in the place of Mr. K. Vijaykumar ho retires by rotation and being eligible, offers himself for re-appointment; and to consider other matters. Price Target Changed • Aug 29
Price target increased by 7.3% to ₹601 Up from ₹560, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of ₹604. Stock is up 20% over the past year. The company is forecast to post earnings per share of ₹47.71 for next year compared to ₹43.31 last year. Annonce • Aug 24
Sun TV Network Limited Appoints Vipin Unni as Senior Vice President and Head of Strategy -Programming and Communications Vipin Unni has recently joined senior vice president and head of strategy -programming and communications at Sun TV Network. In his new role, he will be overseeing both the Telugu and Malayalam clusters, with the responsibility of driving the network's strategy to regain growth momentum. He posted about this development on his LinkedIn profile. Prior to joining Sun TV Network, Vipin Unni was the head of marketing and communications for Telugu linear TV Star Maa and the OTT platform HotStar Telugu under Disney Star. Upcoming Dividend • Aug 15
Upcoming dividend of ₹6.25 per share at 2.7% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 10 September 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.7%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (1.9%). Price Target Changed • Aug 14
Price target increased by 9.0% to ₹593 Up from ₹544, the current price target is an average from 17 analysts. New target price is 7.7% above last closing price of ₹551. Stock is up 15% over the past year. The company is forecast to post earnings per share of ₹48.85 for next year compared to ₹43.31 last year. Reported Earnings • Aug 12
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: ₹15.02 (up from ₹12.54 in 1Q 2023). Revenue: ₹13.5b (up 11% from 1Q 2023). Net income: ₹5.92b (up 20% from 1Q 2023). Profit margin: 44% (up from 41% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year. Annonce • Aug 12
Sun Tv Network Limited Declares Interim Dividend for the Financial Year 2023-24 Sun TV Network Limited declared interim dividend of INR 6.25 per equity share of INR 5 each for the financial year 2023-24. Annonce • Aug 04
Sun TV Network Limited to Report Q1, 2024 Results on Aug 11, 2023 Sun TV Network Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Reported Earnings • May 22
Full year 2023 earnings released: EPS: ₹43.31 (vs ₹41.66 in FY 2022) Full year 2023 results: EPS: ₹43.31 (up from ₹41.66 in FY 2022). Revenue: ₹41.5b (up 16% from FY 2022). Net income: ₹17.1b (up 3.9% from FY 2022). Profit margin: 41% (down from 46% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • May 13
Sun TV Network Limited to Report Q4, 2023 Results on May 19, 2023 Sun TV Network Limited announced that they will report Q4, 2023 results on May 19, 2023 Reported Earnings • Feb 05
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹10.79 (down from ₹11.96 in 3Q 2022). Revenue: ₹8.87b (down 16% from 3Q 2022). Net income: ₹4.25b (down 9.8% from 3Q 2022). Profit margin: 48% (up from 44% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.2%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annonce • Feb 04
Sun Tv Network Limited Announces Interim Dividend for the Financial Year 2022-23 Sun TV Network Limited at its board meeting held on February 3, 2023 announced Interim Dividend of INR 3.75/-per equity share of INR 5/- each (i.e. 75%) for the financial year 2022-23 has been declared. Annonce • Jan 26
Sun TV Network Limited to Report Q3, 2023 Results on Feb 03, 2023 Sun TV Network Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. Independent Director Mathipoorana Ramakrishnan was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Nov 12
Sun TV Network Limited Approves Interim Dividend for the Financial Year 2022-23 Sun TV Network Limited at the board meeting, the board has approved an interim dividend of INR 3.75 per equity share of INR 5 each (i.e. 75%) for the financial year 2022-23 has been declared. Annonce • Nov 05
Sun TV Network Limited to Report Q2, 2023 Results on Nov 11, 2022 Sun TV Network Limited announced that they will report Q2, 2023 results on Nov 11, 2022 Buying Opportunity • Oct 10
Now 20% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be ₹669, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.6%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings is also forecast to grow by 7.7% per annum over the same time period. Annonce • Sep 02
Sun TV Network Limited, Annual General Meeting, Sep 23, 2022 Sun TV Network Limited, Annual General Meeting, Sep 23, 2022, at 10:00 Indian Standard Time. Agenda: To discuss Adoption of Financial Statements; to consider Confirmation of Interim Dividend; to discuss Re-appointment of Ms. Kaviya Kalanithi Maran as Director; to discuss Appointment of Statutory Auditors in place of retiring Auditors; and to discuss Ratification of Remuneration of Cost Auditor. Upcoming Dividend • Aug 16
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 23 August 2022. Payment date: 11 September 2022. Payout ratio is a comfortable 22% but the company is paying out more than the cash it is generating. Trailing yield: 2.9%. Within top quartile of Indian dividend payers (1.7%). Higher than average of industry peers (2.1%). Reported Earnings • Aug 14
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: EPS: ₹12.54 (up from ₹9.26 in 1Q 2022). Revenue: ₹13.2b (up 62% from 1Q 2022). Net income: ₹4.94b (up 35% from 1Q 2022). Profit margin: 37% (down from 45% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 27%. Earnings per share (EPS) missed analyst estimates by 1.8%. Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Aug 13
Sun Tv Network Limited Declares Interim Dividend for Financial Year 2022-23 Sun TV Network Limited announced at the board meeting held on August 12, 2022 that the company approved Interim Dividend of INR 5 per equity share of INR 5- each (i.e. 100%) for the financial year 2022-23 has been declared. Reported Earnings • May 31
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: ₹41.66 (up from ₹38.70 in FY 2021). Revenue: ₹35.8b (up 12% from FY 2021). Net income: ₹16.4b (up 7.7% from FY 2021). Profit margin: 46% (down from 48% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 13%, compared to a 15% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. Independent Director Mathipoorana Ramakrishnan was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 10
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 06 April 2022. Payout ratio is a comfortable 5.7% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (1.3%). Annonce • Mar 10
Sun TV Network Limited Declares Interim Dividend for the Financial Year 2021-22 Sun TV Network Limited announced that at its board meeting held on March 7, 2022, the board declared an interim dividend of INR 5 per equity share of INR 5 each for the financial year 2021-22. Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹11.96 (up from ₹11.30 in 3Q 2021). Revenue: ₹11.1b (up 11% from 3Q 2021). Net income: ₹4.71b (up 5.7% from 3Q 2021). Profit margin: 43% (down from 45% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the next year, revenue is forecast to grow 15%, compared to a 18% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Annonce • Feb 05
Sun TV Network Limited to Report Q3, 2022 Results on Feb 10, 2022 Sun TV Network Limited announced that they will report Q3, 2022 results on Feb 10, 2022 Recent Insider Transactions • Dec 11
Non-Executive Independent Director recently sold ₹1.9m worth of stock On the 7th of December, R. Ravivenkatesh sold around 4k shares on-market at roughly ₹537 per share. In the last 3 months, they made an even bigger sale worth ₹2.4m. Insiders have been net sellers, collectively disposing of ₹4.8m more than they bought in the last 12 months. Recent Insider Transactions • Nov 27
Non-Executive Independent Director recently sold ₹2.4m worth of stock On the 24th of November, R. Ravivenkatesh sold around 5k shares on-market at roughly ₹535 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹2.9m more than they bought in the last 12 months. Price Target Changed • Nov 11
Price target increased to ₹620 Up from ₹576, the current price target is an average from 16 analysts. New target price is 9.3% above last closing price of ₹567. Stock is up 28% over the past year. The company is forecast to post earnings per share of ₹41.79 for next year compared to ₹38.70 last year. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS ₹10.04 (vs ₹8.50 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2022 results: Revenue: ₹9.18b (up 19% from 2Q 2021). Net income: ₹3.95b (up 18% from 2Q 2021). Profit margin: 43% (in line with 2Q 2021). Executive Departure • Oct 03
Non-Executive Independent Director J. Ravindran has left the company On the 24th of September, J. Ravindran's tenure as Non-Executive Independent Director ended after 14.3 years in the role. We don't have any record of a personal shareholding under Ravindran's name. Ravindran is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.50 years. Recent Insider Transactions • Sep 20
Insider recently sold ₹512k worth of stock On the 14th of September, Shantha Subramanian sold around 1k shares on-market at roughly ₹512 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Aug 16
Upcoming dividend of ₹3.75 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 12 September 2021. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.5%). In line with average of industry peers (1.4%). Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS ₹9.26 (vs ₹6.53 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: ₹8.78b (up 44% from 1Q 2021). Net income: ₹3.65b (up 42% from 1Q 2021). Profit margin: 42% (in line with 1Q 2021). Reported Earnings • Jun 12
Full year 2021 earnings released: EPS ₹38.70 (vs ₹35.15 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹34.8b (down 1.1% from FY 2020). Net income: ₹15.3b (up 10% from FY 2020). Profit margin: 44% (up from 39% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improved over the past week After last week's 19% share price gain to ₹544, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Media industry in India. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹505 per share. Price Target Changed • Feb 10
Price target raised to ₹566 Up from ₹527, the current price target is an average from 16 analysts. The new target price is 7.6% above the current share price of ₹526. As of last close, the stock is up 4.3% over the past year. Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS ₹11.30 (vs ₹9.76 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ₹9.94b (up 17% from 3Q 2020). Net income: ₹4.46b (up 16% from 3Q 2020). Profit margin: 45% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 10
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 20%, compared to a 17% growth forecast for the Media industry in India. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹553, the stock is trading at a trailing P/E ratio of 17.8x, up from the previous P/E ratio of 15.4x. This compares to an average P/E of 15x in the Media industry in India. Total return to shareholders over the past three years is a loss of 38%. 
