NSEI:TV18BRDCST

Stock Analysis Report

Executive Summary

TV18 Broadcast Limited, together with its subsidiaries, operates a television broadcasting network in India.

Rewards

Earnings are forecast to grow 25.84% per year

Earnings grew by 37% over the past year

Risk Analysis

Debt is not well covered by operating cash flow

Highly volatile share price over past 3 months



Snowflake Analysis

Solid track record with reasonable growth potential.


Similar Companies

Share Price & News

How has TV18 Broadcast's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TV18BRDCST's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

22.9%

TV18BRDCST

6.2%

IN Media

1.9%

IN Market


1 Year Return

-19.7%

TV18BRDCST

-29.3%

IN Media

8.1%

IN Market

Return vs Industry: TV18BRDCST exceeded the Indian Media industry which returned -35% over the past year.

Return vs Market: TV18BRDCST underperformed the Indian Market which returned 6.7% over the past year.


Shareholder returns

TV18BRDCSTIndustryMarket
7 Day22.9%6.2%1.9%
30 Day24.3%7.3%3.3%
90 Day34.4%5.8%6.5%
1 Year-19.7%-19.7%-28.2%-29.3%10.1%8.1%
3 Year-24.1%-24.1%-40.5%-42.3%35.1%28.0%
5 Year-22.3%-22.3%-36.0%-38.9%36.6%24.2%

Price Volatility Vs. Market

How volatile is TV18 Broadcast's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TV18 Broadcast undervalued compared to its fair value and its price relative to the market?

24.39x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TV18BRDCST's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TV18BRDCST's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TV18BRDCST is poor value based on its PE Ratio (24.1x) compared to the Media industry average (12.2x).

PE vs Market: TV18BRDCST is poor value based on its PE Ratio (24.1x) compared to the Indian market (13.8x).


Price to Earnings Growth Ratio

PEG Ratio: TV18BRDCST is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: TV18BRDCST is overvalued based on its PB Ratio (1.3x) compared to the IN Media industry average (1.2x).


Next Steps

Future Growth

How is TV18 Broadcast forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

25.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TV18BRDCST's forecast earnings growth (25.8% per year) is above the savings rate (6.5%).

Earnings vs Market: TV18BRDCST's earnings (25.8% per year) are forecast to grow faster than the Indian market (19.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TV18BRDCST's revenue (13.2% per year) is forecast to grow faster than the Indian market (11.3% per year).

High Growth Revenue: TV18BRDCST's revenue (13.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TV18BRDCST's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has TV18 Broadcast performed over the past 5 years?

5.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TV18BRDCST has high quality earnings.

Growing Profit Margin: TV18BRDCST's current net profit margins (3.9%) are higher than last year (3.1%).


Past Earnings Growth Analysis

Earnings Trend: TV18BRDCST has become profitable over the past 5 years, growing earnings by 5.4% per year.

Accelerating Growth: TV18BRDCST's earnings growth over the past year (37%) exceeds its 5-year average (5.4% per year).

Earnings vs Industry: TV18BRDCST earnings growth over the past year (37%) exceeded the Media industry 14.9%.


Return on Equity

High ROE: TV18BRDCST's Return on Equity (7.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is TV18 Broadcast's financial position?


Financial Position Analysis

Short Term Liabilities: TV18BRDCST's short term assets (₹50.1B) exceed its short term liabilities (₹40.2B).

Long Term Liabilities: TV18BRDCST's short term assets (₹50.1B) exceed its long term liabilities (₹1.6B).


Debt to Equity History and Analysis

Debt Level: TV18BRDCST's debt to equity ratio (41.9%) is considered high.

Reducing Debt: TV18BRDCST's debt to equity ratio has increased from 9.5% to 41.9% over the past 5 years.

Debt Coverage: TV18BRDCST's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: TV18BRDCST's interest payments on its debt are well covered by EBIT (3.7x coverage).


Balance Sheet

Inventory Level: TV18BRDCST has a high level of physical assets or inventory.

Debt Coverage by Assets: TV18BRDCST's debt is covered by short term assets (assets are 2.8x debt).


Next Steps

Dividend

What is TV18 Broadcast's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%0.6%markettop25%2.2%industryaverage2.5%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TV18BRDCST's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TV18BRDCST'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 TV18BRDCST's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TV18BRDCST'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 TV18BRDCST's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

What is the CEO of TV18 Broadcast's salary, the management and board of directors tenure and is there insider trading?

4.8yrs

Average management tenure


CEO

Amba Parigi (70yo)

0yrs

Tenure

0

Mr. Amba Preetham Parigi has been Advisor to Chairman for Network18 Media & Investments Limited since October 1, 2015 and served as its Group Chief Executive Officer from January 29, 2015 to September 30,  ...


Management Age and Tenure

4.8yrs

Average Tenure

47yo

Average Age

Experienced Management: TV18BRDCST's management team is considered experienced (4.8 years average tenure).


Board Age and Tenure

2.6yrs

Average Tenure

62yo

Average Age

Experienced Board: TV18BRDCST's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Insider Trading

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 not been meaningfully diluted in the past year.


Management Team

  • Ramesh Damani

    Chief Financial Officer

    • Tenure: 4.3yrs
  • Amba Parigi (70yo)

    Group Chief Executive officer

    • Piyush Jain (47yo)

      Chief Operating Officer

      • Tenure: 22.6yrs
    • Sanjeev Singh (47yo)

      Executive Vice President of Human Resource

      • Tenure: 11.7yrs
    • Anuradha Agrawal

      National Revenue Head for CNN-IBN

      • Tenure: 4.8yrs
    • Deepak Gupta

      Compliance Officer

      • Tenure: 4.5yrs
      • Compensation: ₹4.73m
    • Rahul Joshi (49yo)

      MD & Director

      • Tenure: 1.3yrs
      • Compensation: ₹24.89m
    • Vishal Srivastava (42yo)

      Revenue Head of Government/International & Specialprojects

      • Saurabh Awasthi (43yo)

        Senior Vice President of Legal

        • Tenure: 5.7yrs
      • Mukul Gupta

        National Head of Sales - News18 Regional


        Board Members

        • Renuka Ramnath (58yo)

          Additional Independent Director

          • Tenure: 0.5yrs
        • Panda Madhu Sudana Prasad (67yo)

          Non-Executive Director

          • Tenure: 2.6yrs
          • Compensation: ₹700.00k
        • Dhruv Kaji (68yo)

          Independent Director

          • Tenure: 4.3yrs
          • Compensation: ₹1.50m
        • Rajiv Luthra (62yo)

          Independent Director

          • Tenure: 4.3yrs
          • Compensation: ₹600.00k
        • Adil Zainulbhai (66yo)

          Independent Chairman of the Board

          • Tenure: 4.5yrs
          • Compensation: ₹1.50m
        • Jyoti Deshpande (49yo)

          Non-Executive Director

          • Tenure: 1.5yrs
          • Compensation: ₹300.00k
        • Rahul Joshi (49yo)

          MD & Director

          • Tenure: 1.3yrs
          • Compensation: ₹24.89m

        Company Information

        TV18 Broadcast Limited's company bio, employee growth, exchange listings and data sources


        Key Information


        Number of Employees


        Location

        • TV18 Broadcast Limited
        • Empire Complex
        • First Floor
        • Mumbai
        • Maharashtra
        • 400013
        • India

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        532800BSE (Mumbai Stock Exchange)YesEquity SharesININRFeb 2007
        TV18BRDCSTNSEI (National Stock Exchange of India)YesEquity SharesININRFeb 2007

        Biography

        TV18 Broadcast Limited, together with its subsidiaries, operates a television broadcasting network in India. It operates business news channels, such as CNBC-TV18, CNBC Awaaz, and CNBC Bajar; general news channels, including CNN News18, News18 India, and News18; and regional news channels comprising News18 network. The company also operates Hindi general entertainment channels consisting of Colors, Colors Rishtey, Rishtey Cineplex, MTV India, and MTV Beats; English entertainment channels, such as VH1, Comedy Central, and Colors Infinity; and regional entertainment channels consisting of Colors Kannada, Colors Super, Kannada Cinema, Colors Bangla, Colors Marathi, Colors Gujarati, Colors Oriya, and Colors Tamil. In addition, it operates kids entertainment channels comprising Nickelodeon, Sonic, Nick Jr., and Nick HD+; factual entertainment and lifestyle channels, such as HistoryTV18 and FYI TV18; VOOT, a Viacom18’s premium ad supported video-on-demand platform; filmed entertainment channels, such as Viacom18 Motion Pictures; and IndiaCast, a content asset monetization channel, as well as integrated network solutions. The company was formerly known as ibn18 Broadcast Limited and changed its name to TV18 Broadcast Limited in June 2011. TV18 Broadcast Limited was incorporated in 2005 and is based in Mumbai, India. TV18 Broadcast Limited is a subsidiary of Network18 Media & Investments Limited. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/19 12:50
        End of Day Share Price2020/01/17 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.