GTPL Hathway Ltd
Established in 2006, GTPL Hathway Limited is India’s largest MSO providing Digital Cable TV services and is one of the largest Private Wireline Broadband service provider in India. The Company is the largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat & is a leading Digital Cable TV Service provider in West Bengal. [1]
Strengths
- +Stock is trading at 0.86 times its book value
- +Company has been maintaining a healthy dividend payout of 163%
Weaknesses
- −Company has low interest coverage ratio.
- −The company has delivered a poor sales growth of 6.90% over past five years.
- −Company has a low return on equity of 5.17% over last 3 years.
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| FIIs | 8.64% | 8.64% | 8.61%▼0.0 | 8.39%▼0.2 | 8.4%▲0.0 | 8.41%▲0.0 | 8.35%▼0.1 | 7.37%▼1.0 |
| DIIs | 0.02% | 0%▼0.0 | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 16.34% | 16.36%▲0.0 | 16.39%▲0.0 | 16.61%▲0.2 | 16.6%▼0.0 | 16.59%▼0.0 | 16.66%▲0.1 | 17.62%▲1.0 |
Financial Statements
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 511.55 | 509.07 | 535.99 | 539.03 | 556.16 | 562.19 | 594.68 | 635.81 | 610.03 | 610.27 |
| Expenses | 445.96 | 448.63 | 474.25 | 480.13 | 499.78 | 502.99 | 539.8 | 580.93 | 556.03 | 558.83 |
| Operating Profit | 65.59 | 60.44 | 61.74 | 58.9 | 56.38 | 59.2 | 54.88 | 54.88 | 54 | 51.44 |
| OPM % | 12.82% | 11.87% | 11.52% | 10.93% | 10.14% | 10.53% | 9.23% | 8.63% | 8.85% | 8.43% |
| Net Profit | 19.13 | 9.95 | 15.02 | 13.97 | 10.66 | 8.15 | 5.63 | 5.25 | 0.91 | -5.9 |
| EPS ₹ | 1.7 | 0.88 | 1.34 | 1.24 | 0.95 | 0.72 | 0.5 | 0.47 | 0.08 | -0.52 |
AI Insights
Mar 2026 revenue at ₹2,451Cr, up 11.8% YoY. OPM at 9%.
Borrowings at ₹434Cr. Debt-to-equity ratio: 0.56x. Moderate leverage.
CWIP at ₹29Cr (3% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 0% (-0.03pp change). FIIs: 7.37% (-1.19pp change). Promoters hold 75%.
ROCE declining from 12% (Mar 2015) to 4% (Mar 2026). Working capital days: -69.
PE 94.1x with 3.87% ROCE. Price is -15% above book value of ₹79.1. Dividend yield: 2.97%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 21 Apr - Transcript of the Post Results Conference Call on Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2026.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 16 Apr - Audio recording of post-results conference call for Q4 and FY2026 audited results available on website.
- Announcement under Regulation 30 (LODR)-Investor Presentation 15 Apr - Investor Presentation on the Standalone and Consolidated Audited Financial Results for the quarter and year ended 31.03.2026.
- Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Apr - GTPL Hathway reported FY26 results, revenue ₹37,466 million, EBITDA ₹4,321 million, and ₹2/share dividend.
- Announcement under Regulation 30 (LODR)-Change in Directorate 15 Apr - GTPL Hathway posted FY26 audited results, recommended Rs.2 dividend, reappointed Rajendra Hingwala, and disclosed DOT demand.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse