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Dish TV India Ltd. Stock Analysis

Small Cap
Evaluated by 3256 users | BSE: 532839 | NSE: DISHTV |
TV Broadcasting & Software Production
Dish TV is a part of Essel Group, is India’s first direct to home entertainment service. The company provides around 225 channels, highest in numbers in this segment. It also provides games, interactive TV, Movies on Demand, etc. Dish TV is market leader in Direct to home (DTH) service...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
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'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed -6.28%-1.21%-1.2%-3.23%12.16%72.84%123.48%6.41%1.15%3.8%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,4371,9582,1672,5092,6882,2281,9452,8633,9381,518
Y-o-Y Gr. Rt.-36.3%10.7%15.8%7.1%-17.1%-12.7%47.2%37.6%-61.5%
Adjusted EPS (Rs.) -1.72-1.44-1-1.260.143.821.590.19-0.56-0.25
Y-o-Y Gr. Rt.-NANANANA2628.6%-58.4%-88.1%-394.7%NA
Book Value per Share (Rs.) 0.59-0.88-1.46-2.9-2.931.032.5936.5628.9621.39
Adjusted Net Profit -183-153-107-13415.440716934.7-102-45.3
Net Op. Cash Flow (Rs. Cr.) 355474614708774-10583.1503-619279
Debt to Cash Flow from Ops 3.032.962.661.991.92000.29-0.811.07
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Dish TV India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 0.6%-10.8%-7.9%-61.5%
Adjusted EPS NA-212.3%-154%NA
Book Value per Share 490102.1-26.1
Share Price -18% -36.8% -49.9% -35.7%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) -78.98983.3785.557.93-4.95-402.6687.290.99-1.69-0.98
Operating Profit Margin (%) 17.8126.9327.1221.3128.2319.9818.91-1.2512.1338.12
Net Profit Margin (%) -12.73-7.8-4.91-5.360.5718.268.691.21-2.6-2.99
Debt to Equity 17.15-14.93-10.52-4.56-4.76000.020.090.08
Working Capital Days 12962605757115201331297412
Cash Conversion Cycle -71-30-24-22-11-25-23-26-78-366
Entity Percentage Holding
Promoters 12.81%
Institutions 11.94%
Non-Institutions 69.08%
Others 6.17%
Pledged *75.6683.8682.0594.6094.4793.7593.5193.4684.9372.14
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Dish TV India Ltd. and arrived at the following conclusion:

Past 10 year's financial track record indicates that Dish TV India Ltd. is a average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Dish TV India Ltd.'s performance infers:

Dish TV India Ltd. earnings have declined by -212.3%, whereas share price has depreciated -36.8% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Dish TV India Ltd. share prices over the last 10 years. Here is what we found out:

Dish TV India Ltd. share price has depreciated -17.4% annually over the past ten years.

Dish TV is a part of Essel Group, is India’s first direct to home entertainment service. The company provides around 225 channels, highest in numbers in this segment. It also provides games, interactive TV, Movies on Demand, etc. Dish TV is market leader in Direct to home (DTH) service having a pan-Read More

Dish TV is a part of Essel Group, is India’s first direct to home entertainment service. The company provides around 225 channels, highest in numbers in this segment. 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.      

By digitalizing Indian entertainment, this enterprise brought best television viewing technology. It not only transmits high quality programmes through satellite; but also gives a complete control of selecting channels and paying for them. Dish TV imparts DVD quality picture and stereophonic sound effects to the customers. It promises to change the experience of TV viewing with its uninterrupted transmission service. The endeavor enters next level of entertainment with futuristic features, such as EPG (Electronic Programme Guide), parental lock, games, 400 channels, interactive TV and movie on demand. Dish TV also brings exclusive national and international channels for the first time in India.

Dish TV India has three subsidiaries namely Integrated Subscriber Management Services (ISMSL), Agrani Satellite Services (ASSL) and Agrani Convergence (ACL).

In May 2010, the company launched High Definition (HD) Service - Dish Tru HD on its platform.

In December 2010, Dish TV India expanded its channel capacity by 50% to 648 MHz from earlier 432 MHz by entering into a long-term contract for additional transponders on Asiasat with ‘Antriksh’.

In Feb 2011 Dish TV, the pioneers and market leaders in the Indian DTH market, became Asia’s first DTH company to acquire 10 million subscribers.

In March 2011, announced an alliance with J&K Bank enabling it to offer recharge preference to its subscribers in the state.

In June 2011, Dish TV announced an addition of three more Telugu channels in its bouquet for its Telugu speaking viewers in the state of Andhra Pradesh and addition of two more Kannada channels in its bouquet for its viewers in the state of Karnataka. It has also added three more Oriya channels in its bouquet for its viewers in the state of Orissa.

In July 2011, Dish TV offers digital entertainment for the complete family at cable TV prices. Dish TV offers new packs specifically for South Indian.

Products and Services

Dish TV provides wide range of packages that caters to all segment of  keeping in mind needs various customers such as Dish Maxi Plus, Dish Maxi, Dish Welcome, Dish Freedom Plus, Dish Freedom, Silver PackChild Pack, Dish Mini, Dish A La Carte. It has also introduced new packages to attract more consumers such as “Mini Pack”.

It also provides other services such as movies on demand, gaming, bhakti active, astro active, sports active and multilingual services. It also provides ICICI active, an Interactive banking services giving information about products and services of ICICI Bank.

 

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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