NSEI:RADIOCITY

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Flawless balance sheet with reasonable growth potential.

Risks

  • Music Broadcast has significant price volatility in the past 3 months.

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

-3.1%

NSEI:RADIOCITY

-3.3%

IN Media

-1.2%

IN Market


1 Year Return

-43.4%

NSEI:RADIOCITY

-33.6%

IN Media

-10.7%

IN Market

RADIOCITY underperformed the Media industry which returned -34.7% over the past year.

RADIOCITY underperformed the Market in India which returned -11.5% over the past year.


Share holder returns

RADIOCITYIndustryMarket
7 Day-3.1%-3.3%-1.2%
30 Day-6.9%-2.3%-0.6%
90 Day-34.9%-10.5%-7.7%
1 Year-43.4%-43.4%-32.8%-33.6%-9.0%-10.7%
3 Yearn/a-40.0%-41.5%17.2%11.2%
5 Yearn/a-15.7%-19.2%34.9%22.0%

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 based on future cash flows and its price relative to the stock market?

35%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Music Broadcast's share price is below the future cash flow value, and at a moderate discount (> 20%).

Music Broadcast's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Music Broadcast is overvalued based on earnings compared to the IN Media industry average.

Music Broadcast is overvalued based on earnings compared to the India market.


Price Based on Expected Growth

Music Broadcast is good value based on expected growth next year.


Price Based on Value of Assets

Music Broadcast is overvalued based on assets compared to the IN Media industry average.


Next Steps

Future Growth

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

21.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Music Broadcast's revenue is expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).

Music Broadcast's earnings are expected to grow significantly at over 20% yearly.

Music Broadcast's revenue growth is expected to exceed the India market average.

Music Broadcast's earnings growth is expected to exceed the India market average.

Music Broadcast's earnings growth is expected to exceed the low risk savings rate of 7.6%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Music Broadcast will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


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

Music Broadcast's year on year earnings growth rate has been positive over the past 5 years.

Music Broadcast's 1-year earnings growth is less than its 5-year average (4% vs 9.3%)

Music Broadcast's earnings growth has not exceeded the IN Media industry average in the past year (4% vs 13.8%).


Return on Equity

Music Broadcast has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Music Broadcast used its assets less efficiently than the IN Media industry average last year based on Return on Assets.


Return on Capital Employed

Music Broadcast's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Music Broadcast's financial position?


Financial Position Analysis

Music Broadcast is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Music Broadcast's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Music Broadcast's level of debt (2.6%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (766.6% vs 2.6% today).

Debt is well covered by operating cash flow (547.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 11.8x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 25.3x debt.


Next Steps

Dividend

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

4.85%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Unable to evaluate Music Broadcast's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Music Broadcast's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Music Broadcast has not reported any payouts.

Unable to verify if Music Broadcast's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Music Broadcast has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

3.1yrs

Average board tenure


CEO

Ashit Kukian 0

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

Ashit's remuneration is higher than average for companies of similar size in India.

Ashit's compensation has been consistent with company performance over the past year, both up more than 20%.


Board Age and Tenure

3.1yrs

Average Tenure

53yo

Average Age

The tenure for the Music Broadcast board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


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: 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: 3.8yrs
    • 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: 5.1yrs
  • Shailesh Gupta (50yo)

    Non-Executive Director

    • Tenure: 0.7yrs
  • Madhukar Kamath

    Non-Executive Independent Director

    • Tenure: 2.3yrs
    • Compensation: ₹280.00k
  • Anuj Puri (53yo)

    Non-Executive Independent Director

    • Tenure: 3.3yrs
    • Compensation: ₹240.00k
  • Vijay Tandon (75yo)

    Independent Non-Executive Chairman

    • Tenure: 2.8yrs
    • Compensation: ₹400.00k
  • Rahul Gupta (39yo)

    Non-Executive Director

    • Tenure: 4yrs

Company Information

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


Key Information

  • Name: Music Broadcast Limited
  • Ticker: RADIOCITY
  • Exchange: NSEI
  • Founded: 1999
  • Industry: Broadcasting
  • Sector: Media
  • Market Cap: ₹10.564b
  • 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 Analysis2019/09/18 12:51
End of Day Share Price2019/09/18 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.