Sun TV Q1 Results Review - Inline And Healthy: Dolat Capital

"BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Sun TV Network Ltd.’s Q1 FY24 is not comparable YoY on account of IPL and contribution from ‘The Beast’ movie in base quarter. Revenue / Ebit /profit after tax grew by 10.4/26.2/18.5% YoY.Sun TV is trading at an attractive 11.8/11.2 times FY24/25E earnings per share. Sun’s strong balance sheet with C&CE of ~Rs 55-60 billion (~25-28% of mid-cap) and leadership in Tamil market drives comfort. However, Sun TV’s low-growth, under-investment in core broadcast/digital business remains a key constraint from future proofing of business perspective. Low dividend payout with mountain of cash raise fears of capital misallocation. These have been constraining factors for re-rating and likely to continue so despite attractive valuations. Sun TV is a potential acquisition candidate in our view. Events surrounding acquisition and/or increased pay-out may drive significant re-rating.Marginally increase our EPS estimates by 2.5/3.7% for FY24/25E. 'Buy' with revised target price of Rs 585 at 12 times FY25E EPS (earlier Rs 565 at 12 times).Click on the attachment to read the full report:.Zee Entertainment Q1 Review - Positive Surprise After Long Coupled With Merger Near Closure: Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Sun TV Q1 Results Review - Inline And Healthy: Dolat Capital

Events surrounding acquisition and/or increased pay-out may drive significant re-rating.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Sun TV Q1 Results Review - Inline And Healthy: Dolat Capital

Events surrounding acquisition and/or increased pay-out may drive significant re-rating.

Choose a plan

Follow Us

DOWNLOAD THE APP