Sun TV Network Ltd - Stock Valuation and Financial Performance

BSE: 532733 | NSE: SUNTV | TV Broadcasting & Software Production | Small Cap

Sun TV Network Share Price

575.70 -3.15 -0.54%
as on 21-Feb'25 16:59

DeciZen - make an informed investing decision on Sun TV Network

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Sun TV Network stock performance -

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P/E Ratio (SA):
13.42
Market Cap:
22,687.5 Cr.
52-wk low:
567.7
52-wk high:
921.6

Is Sun TV Network Ltd an attractive stock to invest in?

1. Is Sun TV Network Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Sun TV Network Ltd is a average quality company.

2. Is Sun TV Network Ltd undervalued or overvalued?

The key valuation ratios of Sun TV Network Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Sun TV Network Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Sun TV Network Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Sun TV Network:

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 end

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.
Sun TV Network Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 34%38.8%39.6%38.3%42.4%32.6%31.1%29.6%26.1%26.2%-
Value Creation
Index
1.51.92.52.42.81.41.31.20.91.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,2442,3952,5582,8623,6633,4043,1173,5053,6614,1483,897
Sales YoY Gr.-6.8%6.8%11.9%28%-7.1%-8.5%12.5%4.5%13.3%-
Adj EPS 18.621.524.427.134.231.937.14041.347.442.9
YoY Gr.-15.3%13.5%11.2%26.1%-6.6%16.4%7.8%3.2%14.7%-
BVPS (₹) 85.889.3102.1117.7138.1142.7176.3204.4231.9262.7290.5
Adj Net
Profit
7358479621,0691,3471,2581,4641,5781,6291,8681,691
Cash Flow from Ops. 1,1411,2561,3011,3441,7771,6101,4441,6142,0572,137-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 7.1%2.5%10%13.3%
Adj EPS 10.9%6.8%8.5%14.7%
BVPS13.3%13.7%14.2%13.3%
Share Price 3% 3.2% 7.6% -7.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
22.424.625.524.726.722.723.3211919.215.5
Op. Profit
Mgn %
7270.966.168.569.765.766.565.464.262.355.8
Net Profit
Mgn %
32.735.437.637.336.837474544.54543.4
Debt to
Equity
0000000000-
Working Cap
Days
173186169156149184217193184165331
Cash Conv.
Cycle
90958894747476789066294

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 15.50%

Sales growth has been subdued in last 3 years 10.00%

Net Profit has been subdued in last 3 years 8.46%

Sales growth is not so good in last 4 quarters at -2.79%

Latest Financials - Sun TV Network Ltd.

Standalone Consolidated
TTM EPS (₹) 42.9 44.3
TTM Sales (₹ Cr.) 3,897 4,036
BVPS (₹.) 290.5 296
Reserves (₹ Cr.) 11,252 11,467
P/BV 1.98 1.94
PE 13.42 12.99
From the Market
52 Week Low / High (₹) 567.65 / 921.60
All Time Low / High (₹) 125.10 / 1097.05
Market Cap (₹ Cr.) 22,687
Equity (₹ Cr.) 197
Face Value (₹) 5
Industry PE 7.7

Quarterly Results

 Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %Dec'24 YoY Gr. Rt. %
Sales (₹ Cr.) 927 141,276 -3.2900 -11.6794 -10.4
Adj EPS (₹) 10.1 9.113.9 -6.210.1 -12.88.8 -20.6
Op. Profit Mgn % 54.85 -509 bps55.35 -433 bps58.77 -1159 bps54.45 -1035 bps
Net Profit Mgn % 43.01 -196 bps42.86 -137 bps44.23 -59 bps43.75 -564 bps

Management X-Ray of Sun TV Network:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:75%Institutions:17.29%Non-Institutions:7.71%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%20%40%60%80%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Sun TV Network

MRP
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MOS
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DP
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Base EPS
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DPS
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MRP: ₹ 0
DP: ₹0
Base EPS ₹:
DPS ₹:
MOS (%):
Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
Base 0
200
YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

Sun is getting Ecplise! - 25 Jun 2015

The Ministry of Home Affairs (MHA) had written to Ministry for Information & Broadcasting (MIB) to reject the security clearance for 33 TV channels of Sun TV Network.

The ministry had cited three reasons: the Aircel-Maxis deal corruption case, money laundering case against Marans being probed by ED and case relating to operation of an illegal exchange. The Union home ministry mentioned about not being in favour of reviewing its decision to block the broadcasting licence of Sun TV. 

On denial of clearance, thechairman and MD, Kalanithi Maran has written to PM Narendra Modi, finance and I&B minister Arun Jaitley and home minister Rajnath Singh asking them to intervene on the issue claiming that his company was being unjustly singled out such action. He mentioned that every media house in India is under investigation under various authorities. Seeking out to Jaitley statement on the same, Maran has also said that he was confident the minister will grant him a fair deal. 

The PMO office, reportedly has decided to stay with the Home Ministries decision to deny security clearance for the 33 channels under Sun TV Network.

What Attorney General Mukul Rohatgi has to say?

Attorney General Rohatgi had advised the government that renewal of licence had nothing to do with sources of funding, and that scrapping of the license on the grounds cited might not be legally reasonable.

He said, “My grounds for finding the denial wrong are that it is not legal, and such action can be taken only when there is a threat to the security of the nation”.

He had further said, “The alleged irregularities could be considered a law and order issue without any impact on national security. Communication from MHA had indicated that there was no threat from the directors or from the companies to the security of the state”, adding that the concept of sethe concept of "law and order" and that all threats to law and order would not necessarily constitute threats to the security of the state.”

Last Friday, Attorney General Mukul Rohatgi submitted a legal opinion to MIB in which he said, “Allegations of economic offences against the owners was not ground enough to deny security clearance to the Sun Group”. Emphasising "untenable" grounds cited by the MHA, Rohatgi stated, "Even if the Ministry of Information & Broadcasting issues a show-cause notice, it will have to give reasons put forth by MHA. The reasons provided by MHA are untenable". 

The MHA has asked the Information and Broadcasting Ministry (I&B) to give its decision, post which; it will further take a final call. So the ball seems to be in the court of Arun Jaitley.

In case there is still disagreement between the two ministries, one could well see Prime Minister Narendra Modi’s intervening into the matter as per media reports.

What we have to say?

As of now, there is a lot uncertainty regarding the future of the company. We will wait and seek for Arun Jaitley’s outlook of either reviewing or suspending the group’s licenses. It is wait & watch situation how the story plays out in favour or against Sun TV as an entity.

What should investors do?

For now we suggest our investors to be cautious. Do not consider this event as price correction to enter into the stock. For investors who are currently holding this stock are advised to be cautious but not necessarily exit the stock.

However going forward if we see that the cascading effect of this event provides us a contrarian opportunity to enter into the stock at a lucrative price, we will communicate the same to our subscribers.    

For now we are suspending the valuation of Sun TV Network due to high uncertainty.

Key Ratios of Sun TV Network

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
Zee Entertainment 97.8 -2.8 (-2.8%) Small Cap 8,637 5.3 4.3 19.2 0.9
Sun TV Network 575.7 -3.2 (-0.5%) Small Cap 4,148 42.9 45 13.5 2
GTPL Hathway 112.1 -3.4 (-2.9%) Small Cap 3,212 4.5 3.5 25.8 1.1
Network 18 Media Inv 46.3 -1.5 (-3.1%) Small Cap 1,818 20.8 -9.9 2.3 1.5
Den Networks 34.2 -0.4 (-1.2%) Small Cap 1,035 2.8 8.2 12.2 0.5
TV Today Network 165.1 -1.1 (-0.6%) Small Cap 952 13.4 6.3 12.4 1.1
Dish TV India 6.9 -0.2 (-2.7%) Small Cap 815 -8 -98.3 - -0.5
Entertain. Network 144.1 -2.9 (-2%) Small Cap 520 1.7 5 84.8 0.9
Zee Media Corpn. 14.7 0.7 (4.8%) Small Cap 458 -1.2 -18.3 - 2.2
Siti Networks 0.6 0 (0%) Small Cap 433 -1 -44.8 - -0.1
Shows rows:

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales2,2442,3952,5582,8623,6633,4043,1173,5053,6614,148
Operating Expenses 6296998729031,1121,1681,0491,2411,3121,563
Manufacturing Costs291304340411548588506635727900
Material Costs0000000000
Employee Cost 8092991181241131018995105
Other Costs 258303433374440467442518490558
Operating Profit 1,6141,6961,6861,9592,5512,2362,0672,2642,3492,585
Operating Profit Margin (%) 71.9%70.8%65.9%68.5%69.6%65.7%66.3%64.6%64.2%62.3%
Other Income 88108197140233249271245362482
Interest 221128222955
Depreciation 588485391440647679382287468514
Exceptional Items 01800000000
Profit Before Tax 1,1121,3341,4901,6582,1361,7981,9352,1932,2382,549
Tax 375465511565741426414548564673
Profit After Tax 7378709791,0931,3951,3721,5201,6451,6751,875
PAT Margin (%) 32.9%36.3%38.3%38.2%38.1%40.3%48.8%46.9%45.7%45.2%
Adjusted EPS (₹)18.722.124.927.735.434.838.641.742.547.6
Dividend Payout Ratio (%)60%70%40%36%35%72%13%33%35%35%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 3,3803,5184,0224,6405,4415,6246,9498,0539,13810,353
Share Capital 197197197197197197197197197197
Reserves 3,1833,3213,8254,4435,2435,4276,7527,8568,94110,156
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables37385056199277259204233256
Others Liabilities 174226278495430415232205362405
Total Liabilities 3,5913,7824,3505,1906,0696,3177,4418,4619,73411,014

Fixed Assets

Gross Block4,1101,5291,9162,2742,8043,4803,6774,7965,0615,568
Accumulated Depreciation3,0324678271,2471,8802,5422,9173,1963,5004,011
Net Fixed Assets1,0791,0621,0891,0279249387601,5991,5611,558
CWIP 011461366146244131145
Investments 6948511,4542,4123,0502,9493,7643,8575,6317,075
Inventories0110000000
Trade Receivables6847337241,0091,0791,3101,3941,4261,4361,211
Cash Equivalents 691788738307471529875918492360
Others Assets444347342389531525501418483667
Total Assets 3,5913,7824,3505,1906,0696,3177,4418,4619,73411,014

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 1,1411,2561,3011,3441,7771,6101,4441,6142,0572,137
PBT 1,1121,3161,4901,6582,1361,7981,9352,1932,2382,549
Adjustment 52242130033544950020216613848
Changes in Working Capital -117-26-1-109-85-262-155-54252145
Tax Paid -376-455-488-541-723-425-538-691-571-604
Cash Flow From Investing Activity -498-359-724-1,266-1,065-367-1,142-1,010-1,526-1,288
Capex -437-371-366-498-548-658-229-1,129-322-509
Net Investments -13886-357-840-61379-1,055-96-1,380-967
Others 77-74-17296211142215176189
Cash Flow From Financing Activity -635-737-475-475-596-1,217-243-596-621-692
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -2-2-1-1-2-1-16-24-1-2
Dividend Paid -532-611-394-394-493-985-197-542-591-660
Others -101-124-80-80-101-231-30-30-29-30
Net Cash Flow 8160102-39711726598-90158
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)22.5125.2225.9825.2427.6724.824.1921.9319.4819.24
ROCE (%)34.0138.7539.5638.3242.4132.6431.1329.6226.126.2
Asset Turnover Ratio0.630.650.630.60.650.550.450.440.40.4
PAT to CFO Conversion(x)1.551.441.331.231.271.170.950.981.231.14
Working Capital Days
Receivable Days102108104110104128158147143116
Inventory Days0000000000
Payable Days0000000000

Sun TV Network Ltd Stock News

Sun TV Network Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Sun TV Network on 21-Feb-2025 16:59 is ₹575.7.
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 21-Feb-2025 16:59 the market cap of Sun TV Network stood at ₹22,687.5.
The latest P/E ratio of Sun TV Network as of 21-Feb-2025 16:59 is 13.42.
The latest P/B ratio of Sun TV Network as of 21-Feb-2025 16:59 is 1.98.
The 52-week high of Sun TV Network is ₹921.6 and the 52-week low is ₹567.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sun TV Network is ₹3,897 ( Cr.) .

About Sun TV Network Ltd

Sun TV Network is one of India's largest media Conglomerates has power packed with many TV Channels and the reach of several households in India. Sun TV Network's channels can be viewed throughout the World including U.S.A, Canada, Europe, Singapore, Malaysia, Sri Lanka, South Africa, Australia and New Zealand. Holding a bouquet of top-rated channels in its clutch, Sun TV Network has got a reach, frequency and patronage that other groups covet but can't compete with Sun TV Network believes in giving you wholesome fare. With its channels in four Indian languages and FM Radio Stations, the company able to connect to the Southern Diaspora erasing geographical distances. With every programme a sell-out, every single transmission digitized, every serial a hit, for millions of viewers all over the world every day is indeed a Sunday. Sun TV Network believes in giving you wholesome fare.  The company has various categories including Serials, Music Based, News, Comedy, Movies, Kids, Film Based, Lifestyle, and Spiritual.

Business area of the company

The Company is mainly engaged in the business of Broadcasting of General Entertainment, News Television Channels and FM Radio Channels.

Products/Services

The company’s products or services Serials, Music Based, News, Comedy, Movies, Kids, Film Based, Lifestyle, Spiritual. It has various Channels with different languages. For Tamil - Sun TV, KTV, Sun Music, Sun News, Adithya TV, Chutti TV. For Telugu - Gemini TV, Gemini Movies, Gemini Music, Gemini Comedy, Kushi TV, Gemini Life. For Malayalam - Surya TV, Kochu TV, Surya Movies, Surya Music, Surya Comedy. For Kannada - Udaya TV, Udaya Movies, Udaya Music, Udaya Comedy and Chintu TV.

Awards

  • 1999: India’s Best Entrepreneur Award In 1999 - Kalanithi Maran, CMD, SunTV Network.
  • 1999: World's Young Achiever For Creativity in 1999 - Kalanithi Maran, CMD, SunTV Network.
  • 2001: Indian Televison Academy award for the best Telugu TV Channel for the year 2001- Gemini TV.
  • 2001: Indian Televison Academy award for the best Kannada TV Channel for the year 2001- Udaya TV.
  • 2001: Indian Televison Academy award for the best Malayalam TV Channel for the year 2001- Surya TV.
  • 2001: Indian Televison Academy award for the best Tamil TV Channel for the year 2001- Sun TV.
  • 2004: Outstanding Businessman Award in the Entertainment and Information Sector in 2004 - Kalanithi Maran, CMD, SunTV Network.
  • 2005: CNBC 'Business Excellence Award' in 2005 - Kalanithi Maran, CMD, SunTV Network.
  • 2009-TiECon 'Entrepreneur of the Year ' in 2009.
  • 2010-EINBA News Television Entrepreneur of the Year 2010.
  • 2011-Sun TV launches Kids Channel 'Kochu TV'.
  • 2012 - Sun TV launches four Ad free action movie channelsSun TV launches Three more pay channels Sun TV Network launches four more channels on DISH Platform, USASun TV Network Inks Agreement with Tamil Nadu Arasu Cable TVSun TV Network emerges as winner of Hyderabad franchise of IPL.
  • 2014- Sun TV creates Guinness World Record.
  • 2014- Sun TV Network Limited signs up with iTunes & YouTube.
  • 2015 - Sun TV Network Ltd. - SUN TV Network partners with HOOQ platform for delivery of Movies of their premium VOD Service.
  • 2016 - YuppTV partners Sun Network to launch channels in Middle East.
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