Sun TV Network Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 20437.23 Crore) operating in Media & Entertainment sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 994.14 Crore, up 29.33 % from last quarter Sales of Rs 768.69 Crore and up 17.26 % from last year same quarter Sales of Rs 847.81 Crore Company reported net profit after tax of Rs 445.87 Crore in latest quarter.
Investment Rationale
SUNTV trades at FY22E/FY23E P/E of 14x/14x. The brokerage rolls forward valuation to FY23E, valuing it at FY23E P/E of 16x, to arrive at Target Price of INR640.
Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of Dec 30, 2020, while FIIs held 9.4 per cent, DIIs 5 per cent and public and others 10.5 per cent.
