Reported Earnings • Apr 17
Full year 2026 earnings released: EPS: ₹1.40 (vs ₹4.26 in FY 2025) Full year 2026 results: EPS: ₹1.40 (down from ₹4.26 in FY 2025). Revenue: ₹37.5b (up 7.7% from FY 2025). Net income: ₹157.6m (down 67% from FY 2025). Profit margin: 0.4% (down from 1.4% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Apr 09
GTPL Hathway Limited to Report Q4, 2026 Results on Apr 15, 2026 GTPL Hathway Limited announced that they will report Q4, 2026 results on Apr 15, 2026 New Risk • Mar 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (₹7.21b market cap, or US$78.6m). Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹59.08, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 15x in the Media industry in India. Total loss to shareholders of 45% over the past three years. New Risk • Jan 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.04b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₹9.04b market cap, or US$99.5m). Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹81.70, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 19x in the Media industry in India. Total loss to shareholders of 31% over the past three years. Reported Earnings • Jan 13
Third quarter 2026 earnings released: EPS: ₹0.98 (vs ₹0.90 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.98 (up from ₹0.90 in 3Q 2025). Revenue: ₹9.38b (up 4.7% from 3Q 2025). Net income: ₹110.1m (up 8.2% from 3Q 2025). Profit margin: 1.2% (up from 1.1% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Jan 05
GTPL Hathway Limited to Report Q3, 2026 Results on Jan 12, 2026 GTPL Hathway Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Jan 12, 2026 Reported Earnings • Oct 15
Second quarter 2026 earnings released: EPS: ₹0.82 (vs ₹1.24 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.82 (down from ₹1.24 in 2Q 2025). Revenue: ₹9.65b (up 12% from 2Q 2025). Net income: ₹92.1m (down 28% from 2Q 2025). Profit margin: 1.0% (down from 1.5% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Oct 08
GTPL Hathway Limited to Report Q2, 2026 Results on Oct 14, 2025 GTPL Hathway Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Oct 14, 2025 Upcoming Dividend • Sep 12
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 19 September 2025. Payment date: 26 October 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 1.7%. Within top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (2.5%). Declared Dividend • Aug 27
Dividend reduced to ₹2.00 Dividend of ₹2.00 is 50% lower than last year. Ex-date: 19th September 2025 Payment date: 26th October 2025 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 (47% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 48% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years. Announcement • Aug 25
GTPL Hathway Limited, Annual General Meeting, Sep 26, 2025 GTPL Hathway Limited, Annual General Meeting, Sep 26, 2025, at 12:30 Indian Standard Time. Announcement • Aug 07
GTPL Hathway Limited (NSEI:GTPL) completed the acquisition of remaining 49% stake in GTPL Vision Services Private Limited from the existing shareholders. GTPL Hathway Limited (NSEI:GTPL) entered into a share transfer agreement to acquire remaining 49% stake in GTPL Vision Services Private Limited from the existing shareholders for approximately INR 110 million on December 31, 2024. Upon completion, GTPL Hathway Limited will own 100% stake in GTPL Vision Services Private Limited.
For the period ending March 31, 2024, GTPL Vision Services Private Limited reported total revenue of INR 165.19 million.
The transaction is expected to be completed within a period of 90 days. As of March 31, 2025, the deal is expected to be completed by June 30, 2025.
As of June 30, 2025, the acquisition is being extended by further 3 months as mutually agreed between the parties and is expected to be completed by September 30, 2025. All other terms and conditions remain unchanged.
GTPL Hathway Limited (NSEI:GTPL) completed the acquisition of remaining 49% stake in GTPL Vision Services Private Limited from the existing shareholders on August 5, 2025. Reported Earnings • Jul 11
First quarter 2026 earnings released: EPS: ₹0.94 (vs ₹1.27 in 1Q 2025) First quarter 2026 results: EPS: ₹0.94 (down from ₹1.27 in 1Q 2025). Revenue: ₹9.09b (up 6.9% from 1Q 2025). Net income: ₹105.6m (down 26% from 1Q 2025). Profit margin: 1.2% (down from 1.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Jul 03
GTPL Hathway Limited to Report Q1, 2026 Results on Jul 10, 2025 GTPL Hathway Limited announced that they will report Q1, 2026 results at 4:00 PM, Indian Standard Time on Jul 10, 2025 Reported Earnings • Apr 17
Full year 2025 earnings released: EPS: ₹4.26 (vs ₹9.51 in FY 2024) Full year 2025 results: EPS: ₹4.26 (down from ₹9.51 in FY 2024). Revenue: ₹35.1b (up 9.2% from FY 2024). Net income: ₹478.9m (down 55% from FY 2024). Profit margin: 1.4% (down from 3.3% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Apr 11
GTPL Hathway Limited to Report Q4, 2025 Results on Apr 16, 2025 GTPL Hathway Limited announced that they will report Q4, 2025 results on Apr 16, 2025 Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹119, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 28x in the Media industry in India. Total loss to shareholders of 50% over the past three years. New Risk • Jan 10
New major risk - Revenue and earnings growth Earnings have declined by 6.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.4% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.5% net profit margin). Reported Earnings • Oct 10
Second quarter 2025 earnings released: EPS: ₹1.14 (vs ₹3.05 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.14 (down from ₹3.05 in 2Q 2024). Revenue: ₹8.62b (up 9.1% from 2Q 2024). Net income: ₹127.8m (down 63% from 2Q 2024). Profit margin: 1.5% (down from 4.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Oct 02
GTPL Hathway Limited to Report Q2, 2025 Results on Oct 09, 2024 GTPL Hathway Limited announced that they will report Q2, 2025 results on Oct 09, 2024 Announcement • Sep 29
GTPL Hathway Limited Announces Directorate Changes GTPL Hathway Limited announced that Mr. Falgun Shah and Mr. Kunal Chandra Independent Directors having completed their second term with effect from close of working hours on September 27, 2024, ceased to be Directors of the Company with effect from September 28, 2024. Upcoming Dividend • Sep 16
Upcoming dividend of ₹4.00 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 27 October 2024. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 2.3%. Within top quartile of Indian dividend payers (1.0%). Higher than average of industry peers (2.0%). Declared Dividend • Sep 01
Dividend of ₹4.00 announced Dividend of ₹4.00 is the same as last year. Ex-date: 20th September 2024 Payment date: 27th October 2024 Dividend yield will be 2.4%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (42% 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 22% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 27
GTPL Hathway Limited, Annual General Meeting, Sep 27, 2024 GTPL Hathway Limited, Annual General Meeting, Sep 27, 2024, at 12:30 Indian Standard Time. Reported Earnings • Jul 12
First quarter 2025 earnings released: EPS: ₹1.27 (vs ₹3.19 in 1Q 2024) First quarter 2025 results: EPS: ₹1.27 (down from ₹3.19 in 1Q 2024). Revenue: ₹8.51b (up 9.0% from 1Q 2024). Net income: ₹142.9m (down 60% from 1Q 2024). Profit margin: 1.7% (down from 4.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Jul 05
GTPL Hathway Limited to Report Q1, 2025 Results on Jul 11, 2024 GTPL Hathway Limited announced that they will report Q1, 2025 results at 4:00 PM, Indian Standard Time on Jul 11, 2024 Announcement • Jul 02
GTPL Hathway Limited (NSEI:GTPL) entered into a share transfer agreement to acquire remaining 49% stake in Gtpl Sorath Telelink Private Limited for INR 0.73 million. GTPL Hathway Limited (NSEI:GTPL) entered into a share transfer agreement to acquire remaining 49% stake in Gtpl Sorath Telelink Private Limited for INR 0.73 million on July 1, 2024. A cash consideration valued at INR 10 per share will be paid by GTPL Hathway Limited. The aforesaid acquisition of equity shares is for consolidation of business operations. Post acquisition, GTPL Sorath will become a wholly owned subsidiary of the Company Gtpl Sorath Telelink Private Limited reported Total revenues of INR 66.89 million as on FY 2023-24. The acquisition is expected to be completed within a period of 60 days. Announcement • May 16
Gtpl Hathway Limited Appoints Abbasali Sunasara as Interim Compliance Officer GTPL Hathway Limited approved the appointment of Mr. Abbasali Sunasara as an interim Compliance Officer of the Company with effect from May 16, 2024 till such time the Board appoints a regular Company Secretary and Compliance Officer. Mr. Abbasali Sunasara is a member of the Institute of Company Secretaries of India (Membership No. A46191). He also holds a Bachelor's degree in commerce. He has over 7 years of experience in handling secretarial compliance functions. Reported Earnings • Apr 16
Full year 2024 earnings released: EPS: ₹9.51 (vs ₹10.13 in FY 2023) Full year 2024 results: EPS: ₹9.51 (down from ₹10.13 in FY 2023). Revenue: ₹32.5b (up 21% from FY 2023). Net income: ₹1.07b (down 6.1% from FY 2023). Profit margin: 3.3% (down from 4.2% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Apr 09
GTPL Hathway Limited to Report Q4, 2024 Results on Apr 15, 2024 GTPL Hathway Limited announced that they will report Q4, 2024 results on Apr 15, 2024 Announcement • Feb 12
GTPL Hathway Limited Announces Resignation of Hardik Sanghvi as Company Secretary and Compliance Officer, Effective February 17, 2024 GTPL Hathway Limited informed that Mr. Hardik Sanghvi (FCS: 7247) has tendered his resignation as Company Secretary & Compliance Officer and Key Managerial Personnel of the Company, to pursue career opportunity outside the Company. He will be relieved from the services of the Company with effect from the close of business hours on February 17, 2024. Reported Earnings • Jan 12
Third quarter 2024 earnings released: EPS: ₹2.11 (vs ₹3.34 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.11 (down from ₹3.34 in 3Q 2023). Revenue: ₹8.61b (up 22% from 3Q 2023). Net income: ₹236.8m (down 37% from 3Q 2023). Profit margin: 2.8% (down from 5.3% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹182, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 35x in the Media industry in India. Total returns to shareholders of 65% over the past three years. Reported Earnings • Oct 18
Second quarter 2024 earnings released: EPS: ₹3.05 (vs ₹3.99 in 2Q 2023) Second quarter 2024 results: EPS: ₹3.05 (down from ₹3.99 in 2Q 2023). Revenue: ₹7.90b (up 19% from 2Q 2023). Net income: ₹342.2m (down 24% from 2Q 2023). Profit margin: 4.3% (down from 6.8% in 2Q 2023). The decrease in margin was driven by higher expenses. 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 14% per year, which means it is well ahead of earnings. Announcement • Oct 07
GTPL Hathway Limited to Report Q2, 2024 Results on Oct 14, 2023 GTPL Hathway Limited announced that they will report Q2, 2024 results at 4:00 PM, Indian Standard Time on Oct 14, 2023 New Risk • Oct 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (3.7% net profit margin). Upcoming Dividend • Sep 15
Upcoming dividend of ₹4.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 29 October 2023. Payout ratio is a comfortable 39% 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 (1.8%). Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹183, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 32x in the Media industry in India. Total returns to shareholders of 105% over the past three years. Announcement • Aug 29
GTPL Hathway Limited, Annual General Meeting, Sep 29, 2023 GTPL Hathway Limited, Annual General Meeting, Sep 29, 2023, at 12:30 Indian Standard Time. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Director Rajendra Hingwala was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹136, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 22x in the Media industry in India. Total returns to shareholders of 54% over the past three years. Reported Earnings • Jul 15
First quarter 2024 earnings released: EPS: ₹3.19 (vs ₹3.85 in 1Q 2023) First quarter 2024 results: EPS: ₹3.19 (down from ₹3.85 in 1Q 2023). Revenue: ₹7.81b (up 21% from 1Q 2023). Net income: ₹359.2m (down 17% from 1Q 2023). Profit margin: 4.6% (down from 6.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 14
GTPL Hathway Limited Appoints Rajendra Dwarkadas Hingwala as Independent Director GTPL Hathway Limited announced the appointment of Mr. Rajendra Dwarkadas Hingwala (DIN: 00160602) as an additional director designated as an independent director with effect from July 13, 2023. Mr. Rajendra Dwarkadas Hingwala (Age 70 years) is a Chartered Accountant and fellow member of Institute of Chartered Accountants of India. He has worked as Director/Partner with PricewaterhouseCoopers Private Limited (PWC) and retired therefrom after 38 years of service. His area of work included advising on various provisions of Double Taxation Avoidance Agreements, direct and indirect tax implications of acquiring undertakings/companies, structuring of business transactions, compliance of tax laws including litigation support and structuring of investment by foreign entities in India through various investment routes. Announcement • Jul 08
GTPL Hathway Limited to Report Q1, 2024 Results on Jul 14, 2023 GTPL Hathway Limited announced that they will report Q1, 2024 results on Jul 14, 2023 Reported Earnings • Apr 16
Full year 2023 earnings released: EPS: ₹10.13 (vs ₹17.75 in FY 2022) Full year 2023 results: EPS: ₹10.13 (down from ₹17.75 in FY 2022). Revenue: ₹27.1b (up 11% from FY 2022). Net income: ₹1.14b (down 43% from FY 2022). Profit margin: 4.2% (down from 8.2% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 22% per year. Buying Opportunity • Feb 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be ₹145, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 31%. Buying Opportunity • Jan 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be ₹157, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 31%. Reported Earnings • Jan 14
Third quarter 2023 earnings released: EPS: ₹3.34 (vs ₹4.86 in 3Q 2022) Third quarter 2023 results: EPS: ₹3.34 (down from ₹4.86 in 3Q 2022). Revenue: ₹7.05b (up 15% from 3Q 2022). Net income: ₹375.7m (down 31% from 3Q 2022). Profit margin: 5.3% (down from 8.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jan 05
GTPL Hathway Limited to Report Q3, 2023 Results on Jan 12, 2023 GTPL Hathway Limited announced that they will report Q3, 2023 results on Jan 12, 2023 Reported Earnings • Oct 17
Second quarter 2023 earnings released: EPS: ₹3.99 (vs ₹3.83 in 2Q 2022) Second quarter 2023 results: EPS: ₹3.99 (up from ₹3.83 in 2Q 2022). Revenue: ₹6.62b (up 9.4% from 2Q 2022). Net income: ₹448.6m (up 4.1% from 2Q 2022). Profit margin: 6.8% (down from 7.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 29
Now 21% undervalued Over the last 90 days, the stock is up 2.4%. The fair value is estimated to be ₹191, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 49%. Buying Opportunity • Jul 15
Now 19% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be ₹184, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 6.0% in a year. Earnings is forecast to grow by 14% in the next year. Reported Earnings • Jul 15
First quarter 2023 earnings released: EPS: ₹3.85 (vs ₹4.22 in 1Q 2022) First quarter 2023 results: EPS: ₹3.85 (down from ₹4.22 in 1Q 2022). Revenue: ₹6.45b (up 5.7% from 1Q 2022). Net income: ₹432.6m (down 8.9% from 1Q 2022). Profit margin: 6.7% (down from 7.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.0%, compared to a 15% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 25
Upcoming dividend of ₹4.00 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 10 July 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.5%. Within top quartile of Indian dividend payers (1.7%). Higher than average of industry peers (2.1%). Reported Earnings • May 22
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Net income: ₹2.00b (up 6.1% from FY 2021). Revenue exceeded analyst estimates by 2.2%. 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. 5 experienced directors. 2 highly experienced directors. Additional Independent Director Divya Momaya was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 10
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹17.75 (up from ₹16.73 in FY 2021). Revenue: ₹24.6b (down 1.7% from FY 2021). Net income: ₹2.00b (up 6.1% from FY 2021). Profit margin: 8.1% (up from 7.5% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 4.6%, compared to a 18% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 17% share price gain to ₹213, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Media industry in India. Total returns to shareholders of 234% over the past three years. Reported Earnings • Jan 14
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹4.86 (up from ₹4.02 in 3Q 2021). Revenue: ₹6.13b (down 6.5% from 3Q 2021). Net income: ₹546.5m (up 21% from 3Q 2021). Profit margin: 8.9% (up from 6.9% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.3%. Earnings per share (EPS) surpassed analyst estimates by 3.3%. Over the next year, revenue is expected to shrink by 1.3% compared to a 20% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 15
Second quarter 2022 earnings released: EPS ₹3.83 (vs ₹4.01 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹6.05b (up 3.5% from 2Q 2021). Net income: ₹430.8m (down 4.5% from 2Q 2021). Profit margin: 7.1% (down from 7.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Executive Departure • Oct 03
Independent Director Parulben Oza has left the company On the 27th of September, Parulben Oza's tenure as Independent Director ended after 5.0 years in the role. We don't have any record of a personal shareholding under Parulben's name. Parulben is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improved over the past week After last week's 31% share price gain to ₹294, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Media industry in India. Total returns to shareholders of 371% over the past three years. Upcoming Dividend • Aug 10
Upcoming dividend of ₹4.00 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 26 September 2021. Trailing yield: 1.8%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 15% share price gain to ₹225, 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 154% over the past three years. Reported Earnings • Jul 20
First quarter 2022 earnings released: EPS ₹4.22 (vs ₹3.63 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: ₹6.11b (up 22% from 1Q 2021). Net income: ₹474.6m (up 16% from 1Q 2021). Profit margin: 7.8% (down from 8.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 18% share price gain to ₹171, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Media industry in India. Total returns to shareholders of 41% over the past three years. Reported Earnings • Apr 17
Full year 2021 earnings released: EPS ₹16.73 (vs ₹6.91 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹25.3b (up 4.5% from FY 2020). Net income: ₹1.88b (up 142% from FY 2020). Profit margin: 7.4% (up from 3.2% in FY 2020). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.