Sun TV Network Limited (SUNTV)
🎯 Key Takeaways
- Sun TV Network Limited is in a mature, cash-generating phase with stable profitability and consistent dividend policy, though growth has plateaued. The company remains heavily reliant on its broadcasting and cricket franchise revenue, which is showing signs of softening.
- Revenue declined 11.4% QoQ to ₹828 in Q3FY25.
- ⚠️ 1) Over-reliance on cricket revenue, which has declined in recent quarters and is subject to seasonal and performance volatility. 2) Intensifying comp
📖 The Story
Sun TV Network Limited is in a mature, cash-generating phase with stable profitability and consistent dividend policy, though growth has plateaued. The company remains heavily reliant on its broadcasting and cricket franchise revenue, which is showing signs of softening. While financial performance remains robust, the lack of new growth catalysts and declining top-line momentum suggest a transition into a consolidation and capital allocation stage.
📰 What's Happening
The company has recently approved audited financial results for FY2026, reporting total income of ₹4,637.70 crores and profit after tax of ₹1,393.52 crores, with EPS of ₹35.36. Interim dividends totaling ₹12.50 per share were declared, underscoring commitment to shareholder returns. Cricket franchise income declined to ₹567.73 crores from ₹641.96 crores, signaling headwinds in this key revenue stream. Additionally, trading windows were closed ahead of Q1FY26 results, reflecting routine compliance with SEBI insider trading norms.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 840 | 1,349 | 1,048 | 923 | 961 | 1,312 | 935 | 828 |
| Operating Profit | 584 | 918 | 840 | 725 | 660 | 866 | 712 | 584 |
| OPM % | 59.2% | 59.1% | 69.4% | 63.8% | 54.4% | 54.8% | 57.9% | 53.7% |
| Net Profit | 380 | 592 | 465 | 454 | 415 | 560 | 409 | 363 |
| EPS | ₹9.65 | ₹15.02 | ₹11.80 | ₹11.52 | ₹10.53 | ₹14.20 | ₹10.39 | ₹9.22 |
Quarterly revenue has declined sequentially from a peak of ₹1,349 crores in Q1FY24 to ₹828 crores in Q3FY25, with operating margins stabilizing around 53-54% in recent quarters. Profit after tax and EPS have also trended downward over the same period, indicating pressure on top-line growth. Despite this, margins remain healthy, suggesting cost discipline, but the downward trajectory in revenue and profitability aligns with management's own commentary on cricket income softness.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance in the latest filings beyond routine operational updates. However, the company continues to emphasize its strong cash flows, consistent dividend policy, and compliance with regulatory requirements. The decline in cricket revenue was noted as a trend requiring attention, but no corrective strategy was detailed in the recent disclosures.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Entertainment
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Prime Focus Limited | 22,411 | -78.0 | — | — | — |
| Sun TV Network Limited | 21,089 | 12.1 | — | — | — |
| Nazara Technologies Limited | 11,112 | 206.9 | — | — | — |
| PVR INOX Limited | 9,917 | -34.8 | — | — | — |
| Zee Entertainment Enterprises Limited | 8,485 | 16.9 | — | — | — |
| Tips Music Limited | 8,266 | 38.1 | — | — | — |
| Saregama India Limited | 8,016 | 40.4 | — | — | — |
| Network18 Media & Investments Limited | 4,968 | -2.7 | — | — | — |
| Hathway Cable & Datacom Limited | 1,814 | 19.3 | — | — | — |
| Media Matrix Worldwide Limited | 1,667 | — | — | — | — |
⚠️ Risk Factors
1) Over-reliance on cricket revenue, which has declined in recent quarters and is subject to seasonal and performance volatility. 2) Intensifying competition in the broadcast space, with new entrants and shifting viewer behavior challenging traditional broadcasters. 3) Regulatory sensitivity in media content and advertising, which could impact revenue stability. 4) Declining subscriber growth in core markets, potentially limiting organic expansion.
📋 Recent Filings
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Financial Results 29 June 2026Sun TV Network Limited announced that its trading window will close on July 1, 2026, and remain closed until 48 hours after the unaudited quarterly re...
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🔴 Announcement 12 June 2026No summary available
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🟡 Board Meeting 21 May 2026The Board approved audited standalone and consolidated financial results for the year ended March 31, 2026, showing total income of **₹4,637.70 crores...
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share transfer 9 April 2026Sun TV Network Limited disclosed that its Registrar and Share Transfer Agent, KFin Technologies Limited, issued certificates under SEBI Regulation 74(...
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Financial Results 27 March 2026Sun TV Network Limited announced a trading window closure for designated persons and their immediate relatives effective April 1, 2026, until 48 hours...
🧠 Analyst's Read
Sun TV Network remains a high-dividend, low-growth play with solid fundamentals, but its future performance hinges on stabilizing cricket revenue and navigating competitive pressures in media. Investors should monitor upcoming content partnerships and audience metrics as early indicators of recovery or further decline.
Based on filing content and financial data. Not a recommendation.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-04.
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