BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Sun TV Network Ltd. reported in-line numbers – revenue/profit after tax was up 10%/14% YoY, with ad revenues reaching pre-pandemic (Q2 FY20) levels and delayed benefit from the IPL offering spillover.
This was offset by a sluggish subscription revenue run-rate.
Our FY23E/FY24E estimates are largely maintained; we build in a 6% compound annual growth rate over FY20–23E.
The recent upbeat valuation for the new IPL team auction makes the stock valuation compelling at below 10 times on September 23E.
Along with intensifying content investments to win market share, this is a key positive. However, delayed investments in over-the-top remain a concern for Sun TV.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.