NSEI:DISHTV

Stock Analysis Report

Executive Summary

Dish TV India Limited, together with its subsidiaries, provides direct to home and teleport services primarily in India.


Snowflake Analysis

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

How has Dish TV India's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DISHTV's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-17.3%

DISHTV

1.9%

IN Media

8.9%

IN Market


1 Year Return

-89.8%

DISHTV

-64.3%

IN Media

-30.6%

IN Market

Return vs Industry: DISHTV underperformed the Indian Media industry which returned -64.3% over the past year.

Return vs Market: DISHTV underperformed the Indian Market which returned -30.6% over the past year.


Shareholder returns

DISHTVIndustryMarket
7 Day-17.3%1.9%8.9%
30 Day-50.9%-38.5%-24.8%
90 Day-68.4%-44.9%-29.4%
1 Year-89.8%-89.8%-63.3%-64.3%-29.2%-30.6%
3 Year-96.0%-96.1%-73.0%-74.1%-17.0%-21.5%
5 Year-95.3%-95.4%-64.0%-65.8%-5.4%-10.4%

Price Volatility Vs. Market

How volatile is Dish TV India's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Dish TV India undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DISHTV (₹4.05) is trading below our estimate of fair value (₹48.11)

Significantly Below Fair Value: DISHTV is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: DISHTV is unprofitable, so we can't compare its PE Ratio to the Media industry average.

PE vs Market: DISHTV is unprofitable, so we can't compare its PE Ratio to the Indian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate DISHTV's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: DISHTV is good value based on its PB Ratio (0.1x) compared to the IN Media industry average (0.6x).


Next Steps

Future Growth

How is Dish TV India forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

63.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DISHTV is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (6.5%).

Earnings vs Market: DISHTV is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: DISHTV's is expected to become profitable in the next 3 years.

Revenue vs Market: DISHTV's revenue (4.3% per year) is forecast to grow slower than the Indian market (8.9% per year).

High Growth Revenue: DISHTV's revenue (4.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DISHTV's Return on Equity is forecast to be low in 3 years time (5.2%).


Next Steps

Past Performance

How has Dish TV India performed over the past 5 years?

-73.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DISHTV is currently unprofitable.

Growing Profit Margin: DISHTV is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: DISHTV is unprofitable, and losses have increased over the past 5 years at a rate of -73.7% per year.

Accelerating Growth: Unable to compare DISHTV's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: DISHTV is unprofitable, making it difficult to compare its past year earnings growth to the Media industry (6.5%).


Return on Equity

High ROE: DISHTV has a negative Return on Equity (-29.28%), as it is currently unprofitable.


Next Steps

Financial Health

How is Dish TV India's financial position?


Financial Position Analysis

Short Term Liabilities: DISHTV's short term assets (₹21.8B) do not cover its short term liabilities (₹78.1B).

Long Term Liabilities: DISHTV's short term assets (₹21.8B) exceed its long term liabilities (₹8.9B).


Debt to Equity History and Analysis

Debt Level: DISHTV's debt to equity ratio (29.3%) is considered satisfactory.

Reducing Debt: DISHTV had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


Balance Sheet

Inventory Level: DISHTV has a high level of physical assets or inventory.

Debt Coverage by Assets: DISHTV's debt is covered by short term assets (assets are 1.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable DISHTV has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: DISHTV is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 2% per year.


Next Steps

Dividend

What is Dish TV India's current dividend yield, its reliability and sustainability?

12.35%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DISHTV's dividend (12.35%) is higher than the bottom 25% of dividend payers in the Indian market (0.95%).

High Dividend: DISHTV's dividend (12.35%) is in the top 25% of dividend payers in the Indian market (4.16%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether DISHTV's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if DISHTV's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: Unable to calculate sustainability of dividends as DISHTV has not reported any payouts.


Future Payout to Shareholders

Future Dividend Coverage: DISHTV's dividends in 3 years are forecast to be well covered by earnings (26.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Anil Dua (54yo)

2.83s

Tenure

₹42,209,000

Compensation

Mr. Anil Kumar Dua, B.Tech. (Mech.), PGDM (IIMA) has been Chief Executive Officer of Dish TV India Limited since May 17, 2017 and its Additional Executive Director since March 26, 2019. Mr. Dua served as S ...


CEO Compensation Analysis

Compensation vs Market: Anil's total compensation ($USD560.15K) is above average for companies of similar size in the Indian market ($USD48.16K).

Compensation vs Earnings: Anil's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Jawahar Goel
Chairman of the Board & MD4.42yrs₹39.07m0.011% 825.5k
Anil Dua
CEO & Additional Executive Director2.83yrs₹42.21mno data
Rajeev Dalmia
Chief Financial Officer13.17yrs₹20.72mno data
Veerender Gupta
Chief Technology Officerno datano datano data
Ranjit Singh
Corporate Head of Secretarial10.25yrs₹7.40mno data
Sukhpreet Singh
Corporate Head of Marketingno datano datano data
Pushkar Kataria
Chief Human Resources Officer2.58yrsno datano data
Virender Tagra
National Head of Commercialno datano datano data
Ravindra Upadhyay
Head of Customer Engagement2yrsno datano data
Avanti Kanthaliya
Financial Controller2yrsno data0.0068% 510.1k

2.8yrs

Average Tenure

49yo

Average Age

Experienced Management: DISHTV's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jawahar Goel
Chairman of the Board & MD4.42yrs₹39.07m0.011% 825.5k
Anil Dua
CEO & Additional Executive Director2.83yrs₹42.21mno data
Ashok Kurien
Non-Executive Director13.17yrs₹585.00k0.064% 4.8m
Bhagwan Narang
Independent Director13.17yrs₹1.02m0.00041% 30.6k
Rashmi Aggarwal
Non-Executive Independent Women Director5yrs₹870.00kno data
Shankar Aggarwal
Additional Independent Director1.42yrs₹375.00kno data

4.7yrs

Average Tenure

64yo

Average Age

Experienced Board: DISHTV's board of directors are considered experienced (4.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 14.5%.


Top Shareholders

Company Information

Dish TV India Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Dish TV India Limited
  • Ticker: DISHTV
  • Exchange: NSEI
  • Founded: 1988
  • Industry: Cable and Satellite
  • Sector: Media
  • Market Cap: ₹7.457b
  • Shares outstanding: 1.84b
  • Website: https://www.dishd2h.com

Location

  • Dish TV India Limited
  • FC-19, Sector 16A
  • Film City
  • Noida
  • Uttar Pradesh
  • 201301
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
532839BSE (Mumbai Stock Exchange)YesEquity SharesININRApr 2007
DISHTVNSEI (National Stock Exchange of India)YesEquity SharesININRApr 2007
DTTV.YOTCPK (Pink Sheets LLC)GDR EACH REPR 1 SHSUSUSDApr 2018
DTVLLSE (London Stock Exchange)GDR EACH REPR 1 SHSGBUSDApr 2018
DT0BST (Boerse-Stuttgart)GDR EACH REPR 1 SHSDEEURApr 2018
DTVLLBATS-CHIXE (BATS 'Chi-X Europe')GDR EACH REPR 1 SHSGBINRApr 2018

Biography

Dish TV India Limited, together with its subsidiaries, provides direct to home and teleport services primarily in India. It distributes its products and services through a network of distributors and dealers. As of August 28, 2019, the company offered approximately 701 channels and services, including 31 audio channels, and 71 high definition channels and services under the Dish TV, Zing, and d2h brands. The company was incorporated in 1988 and is based in Noida, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 13:44
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
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.