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Swing Capital

Sun TV Network Ltd

NSE: SUNTV BSE: 532733Media

Sun TV Network was established in 1985 as Sumangali Publications Private Limited and was later renamed as Sun TV Network Limited. Sun TV, the flagship channel of the company, was started in 1993. STNL is primarily involved in television broadcasting. Besides, it produces/distributes movies under the banner Sun Pictures[1]

₹525
52W: ₹480 — ₹662
PE 12.8 · Book ₹306 · +72% vs book
Market Cap₹20,689 Cr
Stock P/E12.8Price to Earnings
ROCE20.4%Return on Capital
ROE15.7%Return on Equity
Div. Yield2.81%Face Value ₹5

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 35.4%

Weaknesses

  • −The company has delivered a poor sales growth of 2.64% over past five years.

Shareholding Pattern

Promoters75%
FIIs6.64%
DIIs10.91%
Public7.46%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75%75%75%75%75%75%75%75%
FIIs7.89%7.23%▼0.77.11%▼0.16.87%▼0.26.91%▲0.06.71%▼0.26.47%▼0.26.64%▲0.2
DIIs8.23%10%▲1.810.17%▲0.210.45%▲0.310.35%▼0.110.19%▼0.210.64%▲0.510.91%▲0.3
Public8.89%7.77%▼1.17.7%▼0.17.67%▼0.07.74%▲0.18.1%▲0.47.88%▼0.27.46%▼0.4

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,0188859271,2769007949091,2571,169828
Expenses302312419570371361482640419418
Operating Profit716574509706529432427617750410
OPM %70%65%55%55%59%54%47%49%64%50%
Net Profit456437399547398347362529330316
EPS ₹11.5811.110.1213.8810.18.819.1913.418.378.03

AI Insights

Revenue Trend

TTM revenue at ₹4,163Cr, up 7.3% YoY. OPM at 53%.

Debt Position

Borrowings at ₹89Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹14Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 10.91% (+7.24pp change). FIIs: 6.64% (-3.75pp change). Promoters hold 75%.

Margin & Efficiency

ROCE declining from 36% (Mar 2014) to 20% (Mar 2025). Working capital days: 71.

Valuation

PE 12.8x with 20.4% ROCE. Price is 72% above book value of ₹306. Dividend yield: 2.81%.

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