Agree with this - this is definitely available far lower than intrinsic value
500-600 Cr of Cash and equivalents, no debt, ability to churn out 150-200 cr of OCF, fairly non-scammy promoter with wilingness to return cash to shareholders if need be and the the television medium is even more future-proof than newspapers + election year tailwind
Their digital strategy also seems to be better than their newspaper counterparts. Maybe the only thing to worry about is their over-reliance on Aaj Tak for their revenuesâŚbut stil compelling buy for the next year at the very least
Discl: Invested & Biased. All posts here are for informational/educational purposes only
1 Like
Company has achieved a great quarter due to elections, looks at a sweet spot.
TV Today Network
M Cap - 1400 cr
Cash on books - 830 cr
Debt to equity - 0.04
Sluggish growth in sales and profits, but paying out consistent dividends.
Considering the valuations and nature of business can be a defensive play, promoters also not aggressive.
It can be a major candidate for any majors or acquisitions considering the strong brand reputation.
The company has decided to close its radio and broadcasting operations. I think it is a good step forward as this business was a drain on profitability. Wonder why they didnât do this sooner.
Should increase EPS by ~20% based on FY24 numbers and ~10% based on 1HFY25
| Column 1 |
Column 2 |
Column 3 |
Column3 |
Column 4 |
Column 5 |
Column 6 |
| YEAR |
FY20 |
FY21 |
FY22 |
FY23 |
FY24 |
1HFY25 |
| Sales from Radio (in Rs Cr) |
15 |
6 |
18 |
12 |
16 |
6 |
| As % of sales |
2% |
1% |
2% |
1% |
2% |
1% |
|
|
|
|
|
|
|
| PBIT from Radio (in Rs Cr) |
-14 |
-19 |
-10 |
-22 |
-19 |
-7 |
| As % of sales |
-2% |
-2% |
-1% |
-3% |
-2% |
-1% |
| As % of consolidated PBT |
-6% |
-10% |
-4% |
-18% |
-25% |
-9% |
Source: Screener.in
Disc: Invested
