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Dish TV India Ltd (DISHTV)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532839 NSE: DISHTV TV Broadcasting & Software Production | Small Cap | Dish TV India Share Price
₹2.52 0.12 (5.00%)
As on 11-Sep'26 15:13
Dish TV India Ltd (DISHTV)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532839 NSE: DISHTV TV Broadcasting & Software Production | Small Cap | Dish TV India Share Price
₹2.52 0.12 (5.00%)
As on 11-Sep'26 15:13
Key Metrics
Valuation Multiples
Market Cap
₹442 Cr.
Current Price
₹2.5
52-Week Low / High
₹2 / 6
TTM EPS
₹-5.4
TTM Sales
₹1,099 Cr.
Book Value per Share
₹-23.6
P/E Ratio
0.00
Industry PE
17.4
Price to Book (P/B)
-0.10
Higher than its 5-year historical median
Price to Sales (P/S)
0.40
Lower than its 5-year historical median
EV/EBITDA
-1.87
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
0.00%
Underperforms industry median
Return on Assets (ROA)
-18.77%
Operating Profit Margin
33.6%
Net Profit Margin
-31.11%
Gross Profit Margin
18.3%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-27.92%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-20.53%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
4.23%
Pledged shares (%) of Promoter's holding (%)
11.16%
Reserves
₹-4,523 Cr.
Equity
₹184.1 Cr.
Face Value
₹1
All Time Low / High
₹1.82 / 142.80
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Weak
Is Dish TV India Ltd a good quality company?
Dish TV India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Dish TV India Ltd performance compare with that of its Peers?
Revenue growth of Dish TV India Ltd vs industry peers?
Dish TV India Ltd revenue CAGR is -17.29%, compared to the industry median CAGR of -2.11%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Dish TV India Ltd?
Promoters hold 4.23% of the Dish TV India Ltd, with 11.16% of their stake pledged, indicating high pledge risk.
Stock return of Dish TV India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -30.7% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dish TV India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 72.2% | 184.9% | 0.2% | -22.6% | -29.8% | -2.1% | -108.4% | 0% | 0% | 0% | - |
| Value Creation Index ⓘ | 4.4 | 12.7 | -1.0 | -2.7 | -3.1 | -1.2 | -8.7 | NA | NA | NA | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 2,228 | 1,945 | 2,863 | 3,938 | 1,518 | 1,604 | 1,384 | 1,110 | 815 | 588 | 382 |
| Sales YoY Gr. | - | -12.7% | 47.2% | 37.6% | -61.5% | 5.7% | -13.7% | -19.8% | -26.5% | -27.9% | - |
| Adj EPS ⓘ | 3.8 | 1.6 | -0.3 | -0.6 | -0.3 | -1.2 | -2.6 | -2.6 | -4.4 | -1.4 | -4.6 |
| YoY Gr. | - | -58.4% | -117% | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 1 | 2.6 | 36.6 | 29 | 21.4 | 17.7 | 4.6 | -6.5 | -13.7 | -15.9 | -20.6 |
| Adj Net Profit ⓘ | 407 | 169 | -50.3 | -102 | -45.3 | -220 | -482 | -486 | -802 | -256 | -854 |
| Cash Flow from Ops. ⓘ | -105 | 83.1 | 503 | -619 | 279 | 311 | 164 | 9.9 | 24.4 | 18.8 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0.3 | -0.8 | 1.1 | 0.3 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -13.8% | -17.3% | -24.8% | -27.9% | ||||
| Adj EPS ⓘ | -189.4% | NA | NA | NA | ||||
| BVPSⓘ | -235.5% | -194.2% | -251.5% | NA | ||||
| Share Price | -30.5% | -32.5% | -50.8% | -55.1% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -402.7 | 87.5 | -1.4 | -1.7 | -1 | -6.1 | -23.5 | 283.5 | 43.2 | 9.4 | 25.4 |
| Op. Profit Mgn % ⓘ | 20 | 18.9 | 5.4 | 12.1 | 38.1 | 44.9 | 43.7 | 29.4 | 0.1 | -12.3 | -46.3 |
| Net Profit Mgn % ⓘ | 18.3 | 8.7 | -1.8 | -2.6 | -3 | -13.7 | -34.8 | -43.8 | -98.3 | -43.6 | -223.6 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 115 | 201 | 331 | 297 | 412 | 243 | 306 | 408 | 627 | 957 | 135 |
| Cash Conv. Cycle ⓘ | -25 | -23 | -31 | -78 | -366 | -370 | -302 | -167 | -179 | -168 | -2,664 |
Valuation of Dish TV India - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.64 | 11.64 | 11.64 | 11.61 | 11.16 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,060 | 3,014 | 4,634 | 6,166 | 3,556 | 3,249 | 2,802 | 2,262 | 1,857 | 1,568 |
| Operating Expenses ⓘ + | 2,035 | 2,046 | 3,318 | 4,122 | 1,450 | 1,232 | 1,158 | 1,348 | 1,193 | 1,041 |
| Operating Profit ⓘ | 1,025 | 968 | 1,316 | 2,044 | 2,106 | 2,017 | 1,644 | 913 | 663 | 527 |
| Operating Profit Margin (%) | 33.5% | 32.1% | 28.4% | 33.2% | 59.2% | 62.1% | 58.7% | 40.4% | 35.7% | 33.6% |
| Other Income ⓘ + | 64 | 62 | 54 | 52 | 14 | 16 | 24 | 33 | 110 | 28 |
| Interest ⓘ | 209 | 229 | 396 | 629 | 565 | 418 | 325 | 278 | 267 | 269 |
| Depreciation ⓘ | 591 | 691 | 1,072 | 1,441 | 1,426 | 1,532 | 1,071 | 849 | 472 | 439 |
| Profit Before Tax ⓘ | 290 | 109 | -98 | -1,536 | -1,787 | -698 | -2,381 | -2,088 | -369 | -488 |
| Tax ⓘ | -403 | 27 | -13 | -372 | -133 | 492 | -514 | -405 | 1,598 | 0 |
| Profit After Tax | 692 | 82 | -85 | -1,163 | -1,655 | -1,190 | -1,867 | -1,684 | -1,967 | -488 |
| PAT Margin (%) | 22.6% | 2.7% | -1.8% | -18.9% | -46.5% | -36.6% | -66.6% | -74.4% | -105.0% | -31.1% |
| Adjusted EPS (₹) | 6.5 | 0.9 | -0.4 | -6.2 | -8.9 | -6.4 | -10.0 | -9.1 | -10.7 | -2.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | -8% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 381 | 404 | 6,753 | 5,488 | 3,847 | 2,683 | 932 | -793 | -2,760 | -3,245 | |
| Debt + | 1,156 | 581 | 2,248 | 1,931 | 997 | 483 | 179 | 64 | 0 | 0 | |
| Minority Interest | 0 | -9 | -18 | -35 | -52 | -59 | -61 | -0 | -0 | -0 | |
| Trade Payables | 230 | 185 | 670 | 1,390 | 1,291 | 1,192 | 700 | 448 | 492 | 414 | |
| Others Liabilities ⓘ | 1,756 | 2,640 | 5,061 | 4,741 | 4,474 | 4,401 | 3,760 | 3,269 | 5,068 | 5,226 | |
| Total Liabilities ⓘ | 3,523 | 3,801 | 14,714 | 13,515 | 10,557 | 8,700 | 5,511 | 2,988 | 2,800 | 2,395 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 1,810 | 2,042 | 12,185 | 10,235 | 7,681 | 6,006 | 3,018 | 2,062 | 1,072 | 1,040 | |
| CWIP ⓘ | 610 | 580 | 678 | 767 | 1,148 | 947 | 962 | 652 | 352 | 352 | |
| Investments ⓘ | 232 | 165 | 150 | 0 | 0 | 0 | 0 | 0 | 16 | 25 | |
| Inventories | 13 | 13 | 38 | 25 | 22 | 21 | 10 | 13 | 11 | 9 | |
| Trade Receivables | 72 | 87 | 146 | 141 | 87 | 93 | 80 | 92 | 66 | 80 | |
| Cash Equivalents | 339 | 292 | 563 | 171 | 146 | 155 | 182 | 181 | 171 | 160 | |
| Others Assets ⓘ | 447 | 622 | 954 | 2,177 | 1,473 | 1,477 | 1,260 | -13 | 1,113 | 729 | |
| Total Assets ⓘ | 3,523 | 3,801 | 14,714 | 13,515 | 10,557 | 8,700 | 5,511 | 2,988 | 2,800 | 2,395 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 1,132 | 821 | 1,036 | 1,090 | 2,204 | 1,574 | 1,141 | 668 | 676 | 410 |
| Cash Flow From Investing Activity ⓘ + | -809 | -625 | -493 | -452 | -926 | -481 | -669 | -341 | -595 | -377 |
| Cash Flow From Financing Activity ⓘ + | -352 | -115 | -414 | -849 | -1,257 | -1,112 | -494 | -328 | -88 | -27 |
| Net Cash Flow ⓘ | -29 | 82 | 129 | -210 | 21 | -19 | -21 | -1 | -7 | 6 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 2056.79 | 20.92 | -2.37 | -19.01 | -35.46 | -36.45 | -103.31 | N/A | N/A | N/A |
| ROCE (%) | 35.81 | 21.47 | 5.21 | -9.99 | -17.61 | -6.11 | -85.54 | N/A | N/A | N/A |
| Asset Turnover Ratio | 0.91 | 0.82 | 0.5 | 0.44 | 0.3 | 0.34 | 0.39 | 0.53 | 0.64 | 0.6 |
| PAT to CFO Conversion(x) | 1.64 | 10.01 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 8.10 | 9.70 | 9.20 | 8.50 | 11.70 | 10.10 | 11.30 | 13.90 | 15.60 | 16.90 |
| Inventory Days | 1.30 | 1.60 | 2 | 1.90 | 2.40 | 2.40 | 2 | 1.80 | 2.30 | 2.30 |
| Payable Days | 6,593.70 | 7,086.40 | 0 | 0 | 0 | 0 | 0 | 9,903.40 | 9,903.10 | 0 |
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Dish TV India Ltd FAQs
The current trading price of Dish TV India on 11-Sep-2026 15:13 is ₹2.52.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Dish TV India stood at ₹441.9 Cr
The latest P/E ratio of Dish TV India as of 10-Sep-2026 is 0.00.
The latest P/B ratio of Dish TV India as of 10-Sep-2026 is -0.12.
The 52-week high of Dish TV India is ₹5.98 and the 52-week low is ₹1.82.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dish TV India is ₹382 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Dish TV India Ltd is a average quality company.
The key valuation ratios of Dish TV India Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Dish TV India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Dish TV India Ltd
Asia's largest Direct to Home Entertainment Company DishTV is the pioneer when it comes to digital entertainment. The innovative offerings and revolutionary features of DishTV have earned it a prestigious place of being World’s third largest DTH Company.
Dish TV India Limited was incorporated on August 10, 1988. It is India’s leading direct-to-home (DTH) Company and owns multiple individual brands like Dish TV, Zing and d2h under its umbrella. The company benefits from multiple satellite platforms including SES-8, GSAT-15 and ST-2 and has a bandwidth capacity of 1188 MHz, the largest held by any DTH player in the country.
Dish TV has on its platform have lots of channels & services including audio channels and HD channels & services. The Company has a vast distribution network of distributors & dealers that span across thousands of towns in the country. Dish TV India Limited is connected with its pan-India customer base through call-centres that are spread across various cities and are equipped to handle customer queries 24X7 in many different languages.
Being the leader in DTH services, DishTV has changed the face of Indian Television by making it possible for every customer to have access to premium quality digital entertainment. Enhancing the viewing experiencing, the tri-satellite technology that broadcasts Hi-Definition and Standard Definition signals, DishTV has taken the standards of television to incredible heights.
Adding to the world class TV viewing experience, DishTV gives freedom to its customers to select channels of their choice, customize their own entertainment packages and pay just for the same. As a plethora of channel packs are accessible, the customers have the free hand to build their package to suit their taste and budget. Upping the entertainment quotient, DishTV also provides its customers with features like radio channels, electronic program guide, parental lock, capacity for more than many channels and movies on demand.
Business area of the company
Dish TV is a part of Essel Group, is India’s first direct to home entertainment service. The company provides various channels. It also provides games, interactive TV, Movies on Demand, etc. Dish TV is market leader in Direct to home (DTH) service having a pan-India presence.
Products
- dishSMRT Hub
- DishNXT HD
- DishNXT
- dishSMRT-Kit
- DishSMRT Stick
- HD-upgrade
- Universal Remote
- DISH on wheels
- 2nd DISHTV Connection
Awards and recognitions
- 2011: Recognized as DTH Star Brand India by Then Consumer
- 2011: Recognized as Power Brand by The Indian Consumer
- 2012: iCMG Architecture Awards 2012 India
- 2012: Recognized as Power Brand by The Indian Consumer
- 2012: Recognized as DTH Service provider of the year by India ICT Awards
- 2013: Recognized as the Most Attractive DTH Brand
- 2013: Recognized for the Best Direct Marketing Campaign
- 2014: Recognized for Financial Focus and Acumen
- 2014: Recognized as Most Trusted DTH Brand
- 2014: Recognized for Best Promotional Marketing Campaign
- 2014: Recognized for Innovative Service of the Year
- 2014: Recognized for Innovation in Programming
- 2018: Dish TV’s innovative mobile & AR/VR campaign wins 4 awards at MOBEXX Awards
- 2018: Dish TV wins IDC Insights Awards for ‘Excellence in Operations category’
- 2019: DishTV’s Watcho bags accolades at the mCube Awards
- 2019: Dish TV continues its winning streak at BCS Ratna Award
- 2020: Double-delight-for-d2h-bags-two-awards-at-The-Customer-Fest-Show-2020. The company won two awards under the category ‘Best Integrated Media Campaign’ and ‘Best use of Insights to Enhance Customer Experience’ for its immensely popular campaigns ‘loyalty Ki Royalty’ and ‘You Promise We Resume’ respectively.
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