Sun TV Q1 Review - In Line And Modest, Bleak Outlook: 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 FY23 was in-line and modest. Broadcast business revenue/Ebitda/ adjustd profit after tax are up 14/ 11/21% versus Q1 FY20. However, we estimate the same to be boosted by-distribution of ‘The Beast’,change in movie amortisation policy andhigher other income. Sun TV declared a dividend of Rs 5/share. Our estimates for FY23/24E are largely unchanged. Sun TV is trading at an attractive 11/10 times FY23/24E earnings per share. Sun TV’s strong balance sheet with C&CE of ~Rs 45 billion (~25% of midcap) and leadership in Tamil market drives comfort. Recent IPL bids (Rs 51 and Rs 71 billion for two new teams) and three times IPL bids at ~Rs 480 billion versus last cycle provide additional upside in the long-term from value unlocking perspective. .Click on the attachment to read the full report:.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 Review - In Line And Modest, Bleak Outlook: Dolat Capital

Sun TV Q1 Review - In Line And Modest, Bleak Outlook: Dolat Capital

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