Announcement • Apr 09
SITI Networks Limited Announces Defaults on Payment of Interest/Repayment of Principal Amount on Loans from Banks SITI Networks Limited announced that disclosure of defaults on payment of interest/repayment of principal amount on loans from Bank(s). Date of making the disclosure: April 9, 2025; Nature of obligation: Term loan instalments; Name of the Lender: ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd, ICNCL. Date of default February 28, 2025 (i.e. default of February 28, 2025 and continues beyond 30 days). Current default amount (break-up of principal and interest): Principal and Interest: INR 12,060.3 million. Announcement • Dec 04
SITI Networks Limited, Annual General Meeting, Dec 26, 2024 SITI Networks Limited, Annual General Meeting, Dec 26, 2024, at 15:00 Indian Standard Time. Announcement • Nov 30
SITI Networks Limited Announces Defaults on Payment of Interest/Repayment of Principal Amount on Loans from Banks SITI Networks Limited announced disclosure of defaults on payment of interest/repayment of principal amount on loans from Banks. Date of making the disclosure November 30, 2024; Nature of obligation: Term loan instalments; Name of the Lenders: ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd., ICNCL; Date of default: October 31, 2024 (that is default of October 31, 2024 and continues beyond 30 days); Current default amount (break-up of principal and interest): Principal and Interest: 12,060.3 million. Announcement • Jul 01
SITI Networks Limited Announces Defaults on Payment of Interest/ Repayment of Principal Amount for Loans Including Revolving Facilities Like Cash Credit from Banks / Financial Institutions SITI Networks Limited announced in reference to the SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/2019/140 dated November 21, 2019, regarding disclosure of defaults on payment of interest/repayment of principal amount on loans from Bank(s). In compliance with Para 3(C1) of above referred SEBI Circulars, details pertaining to default(s) effected in payment of loans and interest thereon from Bank(s) are as follows: Name of the Listed Entity: Siti Networks Limited. Date of making the disclosure: July 1, 2024. Nature of obligation: Term loan instalments. Name of the Lender(s): .ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, Induslnd Bank, ZEEL, ICNCL. Date of default: May 31, 2024 (i.e. default of May 31, 2024 and continues beyond 30 days). Current default amount (break-up of principal and interest in INR million): Principal and Interest: INR 12,060.3 million. Announcement • May 31
SITI Networks Limited Announces Default on Payment of Interest SITI Networks Limited announced defaults on payment of interest/repayment of principal amount on loans from Bank(s). Name of the Lender(s): ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, Induslnd Bank, ZEEL, ICNCL. Date of default April 30, 2024 (i.e. default of April 30, 2024 and continues beyond 30 days). Current default amount (break-up of principal and interest in INR million) is principal and Interest: INR 1,206.03. Nature of obligation: Term loan instalments. Announcement • Nov 08
SITI Networks Limited Defaults on Payment of Interest and Repayment of Principal Amount for Loans SITI Networks Limited Defaulted on Payment of Interest and Repayment of Principal Amount for Loans. Date of making the disclosure: November 6, 2023. Nature of obligation: Term loan instalments. Name of the Lender(s): ARCIL, IDBI Bank, SCB, RBL, Axis Bank, ABFL, Induslnd Bank, ZEEL. Date of default: September 30, 2023 (i.e. default of September 30, 2023 and continues beyond 30 days). Current default amount (break-up of principal and interest in INR crore): Principal and Interest: INR 12,926.6 Million. Total amount of outstanding borrowings from Banks/financial institutions: INR 12,926.6 Million. Total financial indebtedness of the listed entity including short- term and long-term debt: INR 12,926.6 Million. Announcement • Sep 17
Siti Networks Limited Announces Resignation of Vikram Singh Panwar as Chief Financial Officer SITI Networks Limited announced resignation of Mr. Vikram Singh Panwar from the office of Chief Financial Officer. Mr. Vikram Singh Panwar has served his notice period and accordingly, his resignation from office of Chief Financial Officer of the Company, is effective from the close of office hours on September 15, 2023. Resignation due to personal reasons. Announcement • Aug 10
SITI Networks Limited Announces Resignation of Vikram Singh Panwar as Chief Financial Officer SITI Networks Limited announced that Mr. Vikram Singh Panwar has tendered resignation from the office of Chief Financial Officer of the Company due to personal contingencies. He shall serve the notice period as per the appointment letter and accordingly, his resignation shall be effective after such notice period. Announcement • Aug 09
SITI Networks Limited to Report Q1, 2024 Results on Aug 14, 2023 SITI Networks Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Announcement • Jul 01
SITI Networks Limited Announces Default on Payment of Interest SITI Networks Limited announced defaults on payment of interest/repayment of principal amount on loans from Bank(s). In compliance with Para 3(Cl) of above referred SEBI Circulars, details pertaining to default(s) effected in payment of loans and interest thereon from Bank(s) are as follows: Date of making the disclosure: June 30, 2023; Nature of obligation: Term loan instalments. Name of the Lender(s): HDFC Limited/.ACRE/.ARCIL, IDBI Bank, SCB, RBL, Axis Bank, .ABFL, Induslnd Bank, ZEEL; Date of default: May 31, 2023 (i.e. default of May 31, 2023 and continues beyond 30 days); Current default amount (break-up of principal and interest in INR million): Principle: 0.0 and Interest: 82. Announcement • Jun 23
Siti Networks Limited Announces Resignation of Sunil Kumar Maheshwari as Independent Director SITI Networks Limited announced that Prof. Sunil Kumar Maheshwari, Independent Director of the Company has, vide his resignation letter/e-mail dated June 22, 2023, resigned from the Board of the Company with immediate effect, on account of personal reasons and other commitments. Announcement • Jun 01
SITI Networks Limited Announces Disclosure of Defaults on Payment of Interest/Repayment of Principal Amount on Loans from Bank(S) SITI Networks Limited announced defaults on payment of interest/repayment of principal amount on loans from Bank(s). In compliance with Para 3(C1) of above referred SEBI Circulars, details pertaining to default(s) effected in payment of loans and interest thereon from Bank(s) are as follows: Nature of obligation: Term loan instalments. Name of the Lenders: HDFC Limited/ACRE/ARCIL, IDBI Bank, SCB, RBL, Axis Bank, ABFL, IndusInd Bank, ZEEL. Date of default: April 30, 2023 (i.e. default of April 30, 2023 and continues beyond 30 days). Current default amount (break-up of principal and interest in INR million): Principle: 0.0 and Interest: 83. Announcement • May 31
SITI Networks Limited, Annual General Meeting, Sep 29, 2023 SITI Networks Limited, Annual General Meeting, Sep 29, 2023. Announcement • May 25
SITI Networks Limited to Report Q4, 2023 Results on May 30, 2023 SITI Networks Limited announced that they will report Q4, 2023 results on May 30, 2023 Announcement • Jan 26
SITI Networks Limited to Report Q3, 2023 Results on Feb 02, 2023 SITI Networks Limited announced that they will report Q3, 2023 results on Feb 02, 2023 Announcement • Jan 18
SITI Networks Limited Announces Resignation of Mr. Vikash Khanna as Chief Financial Officer SITI Networks Limited announced that Mr. Vikash Khanna has tendered resignation from the office of Chief Financial Officer of the Company. He shall serve the notice period as per the appointment letter and accordingly, his resignation shall be effective after such notice period. Announcement • Jan 02
SITI Networks Limited Announces Default on Payment of Interest SITI Networks Limited announced defaults on payment of interest/repayment of principal amount on loans from Bank(s). Name of the Lender(s) are HDFC Limited/ACRE, IDBI Bank, SCB, RBL, Axis Bank, ABFL, Induslnd Bank. Date of default November 30, 2022 (i.e. default of November 30, 2022 and continues beyond 30 days). Current default amount (break-up of principal and interest in INR million) is Interest of INR 88 million. Reported Earnings • May 30
Full year 2022 earnings released: ₹3.00 loss per share (vs ₹2.75 loss in FY 2021) Full year 2022 results: ₹3.00 loss per share (down from ₹2.75 loss in FY 2021). Revenue: ₹14.6b (down 4.9% from FY 2021). Net loss: ₹2.52b (loss widened 5.3% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 15
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: ₹0.70 loss per share (vs ₹0.70 loss in 3Q 2021). Revenue: ₹3.65b (down 6.2% from 3Q 2021). Net loss: ₹599.5m (loss widened 4.3% from 3Q 2021). Revenue missed analyst estimates by 1.1%. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Board Change • Jan 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Independent Non-Executive Director Shilpi Asthana was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Second quarter 2022 earnings released: ₹0.70 loss per share (vs ₹0.40 loss in 2Q 2021) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2022 results: Revenue: ₹3.68b (down 5.5% from 2Q 2021). Net loss: ₹600.2m (loss widened 51% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 41% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 18
First quarter 2022 earnings released: ₹0.70 loss per share (vs ₹0.50 loss in 1Q 2021) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2022 results: Revenue: ₹3.62b (down 3.9% from 1Q 2021). Net loss: ₹574.3m (loss widened 23% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Executive Departure • Jul 14
Chief Financial Officer Gulshan Khandelwal has left the company On the 5th of July, Gulshan Khandelwal's tenure as Chief Financial Officer ended after less than a year in the role. We don't have any record of a personal shareholding under Gulshan's name. A total of 3 executives have left over the last 12 months. Executive Departure • Jul 02
Chief Financial Officer Sanjay Berry has left the company During their tenure, earnings grew by 8.1% annually compared to the industry average of 1.6%. On the 30th of June, Sanjay Berry left the company after 3.8 in the role. We don't have any record of a personal shareholding under Sanjay's name. A total of 2 executives have left over the last 12 months. Reported Earnings • Jun 27
Full year 2021 earnings released: ₹2.80 loss per share (vs ₹2.17 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: ₹15.5b (down 4.0% from FY 2020). Net loss: ₹2.40b (loss widened 27% from FY 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 06
Third quarter 2021 earnings released: ₹0.70 loss per share (vs ₹0.40 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ₹3.91b (down 2.8% from 3Q 2020). Net loss: ₹574.5m (loss widened 75% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. Executive Departure • Feb 04
Independent Director has left the company On the 3rd of February, Deepak Mittal's tenure as Independent Director ended after 1.8 years in the role. We don't have any record of a personal shareholding under Deepak's name. A total of 2 executives have left over the last 12 months. Is New 90 Day High Low • Jan 03
New 90-day high: ₹1.50 The company is up 3.0% from its price of ₹1.45 on 05 October 2020. The Indian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 7.0% over the same period. Reported Earnings • Nov 11
Second quarter 2021 earnings released: ₹0.40 loss per share The company reported a poor second quarter result with increased losses and weaker revenues and control over expenses. Second quarter 2021 results: Revenue: ₹3.92b (down 5.0% from 2Q 2020). Net loss: ₹397.1m (loss widened 14% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 73% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 28
New 90-day low: ₹0.75 The company is down 61% from its price of ₹1.90 on 30 July 2020. The Indian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 14% over the same period. Is New 90 Day High Low • Sep 30
New 90-day low: ₹1.60 The company is down 30% from its price of ₹2.30 on 02 July 2020. The Indian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 13% over the same period.