NSEI:RADIOCITY

Stock Analysis Report

Executive Summary

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


Snowflake Analysis

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

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


Market Performance


7 Day Return

-4.1%

RADIOCITY

16.3%

IN Media

9.3%

IN Market


1 Year Return

-68.9%

RADIOCITY

-56.9%

IN Media

-24.1%

IN Market

Return vs Industry: RADIOCITY underperformed the Indian Media industry which returned -58.6% over the past year.

Return vs Market: RADIOCITY underperformed the Indian Market which returned -26.5% over the past year.


Shareholder returns

RADIOCITYIndustryMarket
7 Day-4.1%16.3%9.3%
30 Day-33.0%-19.2%-12.6%
90 Day-36.8%-34.9%-24.1%
1 Year-68.9%-68.9%-55.8%-56.9%-22.6%-24.1%
3 Year-75.4%-75.4%-68.7%-70.0%-10.9%-15.8%
5 Yearn/a-58.8%-60.8%0.3%-4.9%

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?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RADIOCITY (₹14.15) is trading below our estimate of fair value (₹29.09)

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


Price To Earnings Ratio

PE vs Industry: RADIOCITY is poor value based on its PE Ratio (8.9x) compared to the Media industry average (8.4x).

PE vs Market: RADIOCITY is good value based on its PE Ratio (8.9x) compared to the Indian market (9.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: RADIOCITY is overvalued based on its PB Ratio (0.8x) compared to the IN Media industry average (0.7x).


Next Steps

Future Growth

How is Music Broadcast forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.7%

Forecasted Media industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Music Broadcast has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Music Broadcast performed over the past 5 years?

9.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RADIOCITY has high quality earnings.

Growing Profit Margin: RADIOCITY's current net profit margins (19.5%) are higher than last year (18.7%).


Past Earnings Growth Analysis

Earnings Trend: RADIOCITY's earnings have grown by 9.4% per year over the past 5 years.

Accelerating Growth: RADIOCITY's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: RADIOCITY had negative earnings growth (-6.8%) over the past year, making it difficult to compare to the Media industry average (6.5%).


Return on Equity

High ROE: RADIOCITY's Return on Equity (8.8%) is considered low.


Next Steps

Financial Health

How is Music Broadcast's financial position?


Financial Position Analysis

Short Term Liabilities: RADIOCITY's short term assets (₹4.2B) exceed its short term liabilities (₹1.1B).

Long Term Liabilities: RADIOCITY's short term assets (₹4.2B) exceed its long term liabilities (₹353.7M).


Debt to Equity History and Analysis

Debt Level: RADIOCITY's debt to equity ratio (16.1%) is considered satisfactory.

Reducing Debt: RADIOCITY's debt to equity ratio has reduced from 552.9% to 16.1% over the past 5 years.

Debt Coverage: RADIOCITY's debt is well covered by operating cash flow (81.1%).

Interest Coverage: RADIOCITY's interest payments on its debt are well covered by EBIT (17.7x coverage).


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

Growing Dividend: Insufficient data to determine if RADIOCITY'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 RADIOCITY's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

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

3.4yrs

Average board tenure


CEO

Ashit Kukian

1.58s

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: Ashit's total compensation ($USD146.76K) is above average for companies of similar size in the Indian market ($USD47.89K).

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


Board Members

NamePositionTenureCompensationOwnership
Apurva Purohit
Non-Executive Director5.67yrsno data1.9% 98.3m
Shailesh Gupta
Non-Executive Director1.25yrsno datano data
Madhukar Kamath
Non-Executive Independent Director2.92yrs₹280.00kno data
Anuj Puri
Non-Executive Independent Director3.92yrs₹240.00kno data
Vijay Tandon
Independent Non-Executive Chairman3.42yrs₹400.00kno data
Rahul Gupta
Non-Executive Director4.58yrsno datano data
Anita Nayyar
Additional Woman Independent Director0.25yrno datano data

3.4yrs

Average Tenure

53yo

Average Age

Experienced Board: RADIOCITY's board of directors are considered experienced (3.4 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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: ₹5.185b
  • Shares outstanding: 345.69m
  • 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 jockey (RJ) hosted shows. The company operates its radio stations in 39 cities in India. It also operates Web radio stations that offer news, videos, shows, radio city properties, and scoops on celebrities, as well as access to Radio City RJs. In addition, the company operates online platform radiocity.in, which has 52 radio stations in 11 languages; and ‘Radio City’ mobile app that plays 37 radio stations in 10 languages comprising approximately 900 playlist with 12000 songs and 8000 podcasts. The company was incorporated in 1999 and is headquartered in Mumbai, India. Music Broadcast Limited is a subsidiary of Jagran Prakashan Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/09 13:22
End of Day Share Price2020/04/09 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.