BSE:540366

Stock Analysis Report

Music Broadcast

Executive Summary

Music Broadcast Limited owns and operates FM radio stations under the Radio City brand name.

Snowflake

Fundamentals

Flawless balance sheet and fair value.

Share Price & News

How has Music Broadcast's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-7.3%

540366

4.4%

IN Media

3.1%

IN Market


1 Year Return

-51.7%

540366

-38.1%

IN Media

3.7%

IN Market

Return vs Industry: 540366 underperformed the Indian Media industry which returned -38.1% over the past year.

Return vs Market: 540366 underperformed the Indian Market which returned 3.7% over the past year.


Shareholder returns

540366IndustryMarket
7 Day-7.3%4.4%3.1%
30 Day-12.5%-8.7%5.7%
90 Day-38.1%-14.3%1.4%
1 Year-51.7%-51.7%-37.2%-38.1%5.9%3.7%
3 Yearn/a-46.3%-47.8%22.3%16.0%
5 Yearn/a-27.8%-30.8%42.5%28.9%

Price Volatility Vs. Market

How volatile is Music Broadcast's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Music Broadcast undervalued compared to its fair value and its price relative to the market?

43.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: 540366 (₹32.45) is trading below our estimate of fair value (₹57)

Significantly Undervalued: 540366 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 540366 is poor value based on its PE Ratio (16.1x) compared to the Media industry average (12.9x).

PE vs Market: 540366 is poor value based on its PE Ratio (16.1x) compared to the Indian market (13.2x).


Price to Earnings Growth Ratio

Low PEG Ratio: 540366 is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: 540366 is overvalued based on its PB Ratio (1.5x) compared to the IN Media industry average (1.1x).


Next Steps

Future Growth

How is Music Broadcast forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

24.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 540366's forecast earnings growth (24.2% per year) is above the savings rate (7.6%).

Earnings vs Market: 540366's earnings (24.2% per year) are forecast to grow faster than the Indian market (18.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 540366's revenue (7.8% per year) is forecast to grow slower than the Indian market (11.4% per year).

High Growth Revenue: 540366's revenue (7.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if 540366's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Music Broadcast performed over the past 5 years?

9.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 540366's earnings have grown by 9.3% per year over the past 5 years.

Accelerating Growth: 540366's earnings growth over the past year (4%) is below its 5-year average (9.3% per year).

Earnings vs Industry: 540366 earnings growth over the past year (4%) underperformed the Media industry 13.8%.


Return on Equity

High ROE: 540366's Return on Equity (9.4%) is considered low.


Return on Assets

ROA vs Industry: 540366's Return on Assets is below or equal to the Media industry average last year.


Return on Capital Employed

ROCE Improving: 540366's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Music Broadcast's financial position?


Financial Position Analysis

Short Term Liabilities: 540366's short term assets (₹4.0B) exceeds its short term liabilities (₹1.1B)

Long Term Liabilities: 540366's short term assets (4.0B) exceeds its long term liabilities (198.4M)


Debt to Equity History and Analysis

Debt Level: 540366's debt to equity ratio (2.6%) is considered satisfactory

Reducing Debt: 540366's debt to equity ratio has reduced from 766.6% to 2.6% over the past 5 years.

Debt Coverage: 540366's debt is well covered by operating cash flow (547.2%).

Interest Coverage: 540366's interest payments on its debt are well covered by EBIT (11.8x coverage).


Balance Sheet

Inventory Level: 540366 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 540366's debt is covered by short term assets (assets are 25.347090x debt).


Next Steps

Dividend

What is Music Broadcast's current dividend yield, its reliability and sustainability?

5.55%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%0.6%markettop25%2.5%industryaverage2.3%forecastin3Years5.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate 540366's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 540366's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if 540366's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 540366's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 540366's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

What is the CEO of Music Broadcast's salary, the management and board of directors tenure and is there insider trading?

3.2yrs

Average board tenure


CEO

Ashit Kukian 0

1.1yrs

Tenure

₹11,149,794

Compensation

Mr. Ashit Kukian serves as the Chief Executive Officer of Music Broadcast Limited since September 12, 2018. Mr. Kukian serves as President of Revenue at Times Television. He interacts closely with the Cont ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Ashit's total compensation is reasonable compared to companies of similar size in the Indian market.

Compensation vs Earnings: Ashit's compensation has been consistent with company performance over the past year.


Board Age and Tenure

3.2yrs

Average Tenure

53yo

Average Age

Experienced Board: 540366's board of directors are considered experienced (3.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buy₹184,16730 Aug 19
Jagran Media Network Investment Private Limited
EntityCompany
Shares5,000
Max Price₹36.83
Buy₹4,920,88514 Aug 19
Jagran Media Network Investment Private Limited
EntityCompany
Shares120,000
Max Price₹41.01
Sell₹52,201,23008 Mar 19
Apurva Purohit
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares900,000
Max Price₹58.00
Sell₹8,699,99508 Mar 19
Rajendra Agarwal
EntityIndividual
Shares150,000
Max Price₹58.00

Ownership Breakdown


Management Team

  • Ashit Kukian

    Chief Executive Officer

    • Tenure: 1.1yrs
    • Compensation: ₹11.15m
  • Rachna Kanwar (48yo)

    Chief Operating Officer of Digital Media

    • Tenure: 0yrs
    • Compensation: ₹5.35m
  • Chirag Bagadia (37yo)

    Company Secretary & Compliance Officer

    • Tenure: 0yrs
    • Compensation: ₹1.62m
  • Prashant Domadia (45yo)

    Chief Financial Officer

    • Tenure: 3.9yrs
    • Compensation: ₹4.04m
  • Kartik Kalla (46yo)

    Executive VP & National Head of Programming

    • Tenure: 0yrs
    • Compensation: ₹7.57m
  • Avinash Nair (42yo)

    Senior Vice President of Sales & Special Projects

    • Tenure: 0yrs
    • Compensation: ₹4.93m
  • Deepa Dave (45yo)

    Executive Vice President

    • Tenure: 0yrs
    • Compensation: ₹4.91m
  • Ravi Thakur (45yo)

    Executive Vice President

    • Tenure: 0yrs
    • Compensation: ₹4.71m
  • Abhinendra Tewari (43yo)

    Vice President

    • Tenure: 0yrs
    • Compensation: ₹4.47m
  • Alok Barua (44yo)

    Chief Technology Officer

    • Tenure: 0yrs
    • Compensation: ₹4.70m

Board Members

  • Apurva Purohit (53yo)

    Non-Executive Director

    • Tenure: 5.2yrs
  • Shailesh Gupta (50yo)

    Non-Executive Director

    • Tenure: 0.8yrs
  • Madhukar Kamath

    Non-Executive Independent Director

    • Tenure: 2.4yrs
    • Compensation: ₹280.00k
  • Anuj Puri (53yo)

    Non-Executive Independent Director

    • Tenure: 3.4yrs
    • Compensation: ₹240.00k
  • Vijay Tandon (75yo)

    Independent Non-Executive Chairman

    • Tenure: 2.9yrs
    • Compensation: ₹400.00k
  • Rahul Gupta (39yo)

    Non-Executive Director

    • Tenure: 4.1yrs

Company Information

Music Broadcast Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Music Broadcast Limited
  • Ticker: 540366
  • Exchange: BSE
  • Founded: 1999
  • Industry: Broadcasting
  • Sector: Media
  • Market Cap: ₹8.670b
  • Shares outstanding: 276.55m
  • Website: https://www.radiocity.in

Number of Employees


Location

  • Music Broadcast Limited
  • RNA Corporate Park
  • 5th Floor
  • Mumbai
  • Maharashtra
  • 400051
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
540366BSE (Mumbai Stock Exchange)YesEquity SharesININRMar 2017
RADIOCITYNSEI (National Stock Exchange of India)YesEquity SharesININRMar 2017

Biography

Music Broadcast Limited owns and operates FM radio stations under the Radio City brand name. Its radio stations deliver film, non-film, devotional, regional, and international music, as well as radio jocke ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 12:52
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.