TV18 BROADCAST vs CTC MEDIA (Russia) - Comparison Results

TV18 BROADCAST     Change

Global Broadcast News Ltd (GBN) commenced its operations in December 2005, with the launch of CNN-IBN channel in the English language news and current affairs space. The channel achieved leadership position within six months of its launch and current... Morely enjoys a market share of 37.6%, compared to 35.4% of its nearest competitor NDTV 24X7 (Source: TAM Viewership Data). After cementing its presence in the English general news genre, GBN ventured into the Hindi news genre with the launch of IBN 7 (erstwhile Channel 7). GBN had earlier entered into a share-subscription cum shareholders agreement with the promoters of Jagran TV Pvt. Ltd. and acquired 49% stake in B K Fincap Pvt. Ltd., the holding company of Jagran TV, thus gaining control over Channel 7.The company has an agreement with CNN for an exclusive, limited, non-transferable right to use and produce, inter alia, the CNN name and logo. It also has a news service agreement with Turner for production and broadcasting of revenues. In order to expand its reach, GBN has signed a Memorandum of Understanding (MoU) with Zee Turner Ltd (ZTL), which is engaged in the distribution of various satellite- based channels. As per the deal, ZTL is entitled to a commission of 20% for distributing GBN channels.GBN is part of the Network 18 Group that owns and operates some of the leading business news channels in India (through TV18). As part of the group restructuring exercise, certain business portals of the group have been consolidated into Web 18 Holdings. As a part of the arrangement, GBN will hold 15% in Web 18.

CTC MEDIA (Russia)

   Change

CTC Media is the leading independent broadcasting company in Russia. It owns and operates the CTC, Domashny and Peretz television channels in Russia, as well Channel 31 in Kazakhstan and a TV company in Moldova. The company has more than 150 m people... More within its signal reach. It offers entertainment programming and also has in-house production focused on series, sitcoms and shows. It offers its own TV content production facilities through its subsidiary Story First Production and a number of digital media assets in Russia.

TV18 BROADCAST   CTC MEDIA

EQUITY SHARE DATA
		TV18 BROADCAST Mar-19	CTC MEDIA Dec-14	TV18 BROADCAST/ CTC MEDIA	5-Yr Chart Click to enlarge
High	Rs	71	1,025	-
Low	Rs	31	341	-
Sales per share (Unadj.)	Rs	33.4	337.3	-
Earnings per share (Unadj.)	Rs	1.2	51.2	-
Cash flow per share (Unadj.)	Rs	2.0	63.6	-
Dividends per share (Unadj.)	Rs	0	52.51	-
Dividend yield (eoy)	%	0	7.7	0.0%
Book value per share (Unadj.)	Rs	20.4	194.6	-
Shares outstanding (eoy)	m	1,714.41	158.21	-
Bonus/Rights/Conversions		-	-	-
Price / Sales ratio	x	1.5	2.0	75.0%
Avg P/E ratio	x	41.3	13.3	309.6%
P/CF ratio (eoy)	x	25.4	10.7	235.9%
Price / Book Value ratio	x	2.5	3.5	70.8%
Dividend payout	%	0	102.5	0.0%
Avg Mkt Cap	Rs m	86,921	108,111	80.4%
No. of employees	`000	0.8	1.1	69.5%
Total wages/salary	Rs m	9,549	0	-
Avg. sales/employee	Rs Th	72,628.2	47,098.1	154.2%
Avg. wages/employee	Rs Th	12,117.6	0	-
Avg. net profit/employee	Rs Th	2,670.1	7,150.1	37.3%

INCOME DATA
Net Sales	Rs m	57,231	53,362	107.3%
Other income	Rs m	355	1,314	27.0%
Total revenues	Rs m	57,586	54,676	105.3%
Gross profit	Rs m	3,135	15,496	20.2%
Depreciation	Rs m	1,325	1,958	67.7%
Interest	Rs m	1,006	38	2,682.8%
Profit before tax	Rs m	1,159	14,814	7.8%
Minority Interest	Rs m	357	-398	-89.8%
Prior Period Items	Rs m	0	0	-
Extraordinary Inc (Exp)	Rs m	0	-2,205	0.0%
Tax	Rs m	-588	4,111	-14.3%
Profit after tax	Rs m	2,104	8,101	26.0%
Gross profit margin	%	5.5	29.0	18.9%
Effective tax rate	%	-50.7	27.7	-182.7%
Net profit margin	%	3.7	15.2	24.2%

BALANCE SHEET DATA
Current assets	Rs m	44,872	26,861	167.1%
Current liabilities	Rs m	34,027	13,854	245.6%
Net working cap to sales	%	19.0	24.4	77.7%
Current ratio	x	1.3	1.9	68.0%
Inventory Days	Days	121	0	-
Debtors Days	Days	78	13	594.7%
Net fixed assets	Rs m	22,991	1,388	1,656.8%
Share capital	Rs m	3,429	120	2,857.0%
"Free" reserves	Rs m	31,553	0	-
Net worth	Rs m	34,982	30,786	113.6%
Long term debt	Rs m	2,216	0	-
Total assets	Rs m	78,819	43,525	181.1%
Interest coverage	x	2.2	396.0	0.5%
Debt to equity ratio	x	0.1	0	-
Sales to assets ratio	x	0.7	1.2	59.2%
Return on assets	%	3.9	18.7	21.1%
Return on equity	%	6.0	26.3	22.9%
Return on capital	%	6.8	39.8	17.0%
Exports to sales	%	0	0	-
Imports to sales	%	0	0	-
Net fx	Rs m	-799	0	-

CASH FLOW
From Operations	Rs m	-1,258	7,899	-15.9%
From Investments	Rs m	-3,891	2,490	-156.3%
From Financial Activity	Rs m	5,196	-8,664	-60.0%
Net Cashflow	Rs m	47	1,728	2.7%

NM: Not Meaningful

Source: Company Annual Reports, Regulatory Filings, Equitymaster
The reporting currency for CTC MEDIA (Russia) is United States Dollars. All data has been converted at 75.01 Rs / USD

Compare TV18 BROADCAST With: NASPERS (S. Africa)  NEWS CORP. (US)  WASHINGTON P. (US)  

Compare TV18 BROADCAST With: HINDUSTAN MEDIA VENTURES  DEN NETWORKS  ZEE MEDIA CORP  ENTERTAINMENT NETWORK  MPS