NSE: SUNTV · BSE: 532733
SUN TV NETWORK LIMITED
Operates a Tamil-language television broadcasting business along with cricket franchise and FM radio operations. Revenue of ₹4,334.82 crore in FY26 is driven primarily by TV broadcasting, with the cricket franchise contributing ₹662.12 crore (FY26) and FM radio stations also part of the portfolio. In Q3 FY26, the company acquired Sunrisers Leeds Limited (formerly Northern Superchargers) in the UK for GBP 100.5 million, expanding its cricket franchise footprint beyond the existing India-based team. FM radio operations were restructured during the year with Kai Radio Limited merging into Udaya FM Private Limited. Consolidated PAT fell 15.4% to ₹1,440.63 crore, hit by exceptional items including a ₹98.43 crore impairment of a joint venture investment and a ₹5.09 crore charge from new labour codes. The cost structure is dominated by materials (25.6% of revenue, largely content and programming) and depreciation (16.7%, reflecting broadcast infrastructure and content amortisation), with employees at 7.8% and capex low at 1.9% of revenue. EBITDA margin stood at 62.4% on ₹4,334.82 crore of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. TV Broadcasting, Cricket Franchise, FM Radio. Asset-heavy regional broadcasting and sports franchise owner
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,585 | 3,772 | 4,282 | 4,015 | 4,335 |
| EBITDA (ex other income) | 2,287 | 2,393 | 2,638 | 2,077 | 2,141 |
| margin % | 63.8 | 63.4 | 61.6 | 51.7 | 49.4 |
| Owners' profit | 1,642 | 1,706 | 0 | 0 | 0 |
| EPS, as reported (₹) | 41.66 | 43.31 | 48.86 | 43.23 | 36.56 |
| ROE % · ROCE % | 20.1 · 27.2 | 18.4 · 24.5 | 18.3 · 29.6 | 14.6 · 19.0 | 11.4 · 15.6 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 1,634 | 2,096 | 2,171 | 1,663 | 1,802 |
| Capex | (1,130) | (570) | (511) | (29) | (84) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 935 | 828 | 941 | 1,290 | 1,300 | 862 | 883 | 1,458 |
| Profit before tax | 513 | 468 | 492 | 697 | 516 | 436 | 321 | 815 |
| Net profit | 409 | 363 | 372 | 529 | 355 | 324 | 232 | 619 |
| EPS (₹) | 10.39 | 9.22 | 9.43 | 13.43 | 9.00 | 8.23 | 5.90 | 15.71 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN TV NETWORK LIMITED ◆ | 24,827 | 16.2 | 1.96 | 9.1 | 11.4 | 15.4 | 6.4 | 62.5 |
| ZEE ENTERTAINMENT ENT LTD | 6,709 | 19.2 | 0.57 | 11.4 | 2.3 | 2.3 | 0.9 | 6.9 |
| HATHWAY CABLE & DATACOM | 1,634 | 22.0 | 0.37 | 3.8 | 1.8 | 2.4 | 4.4 | 19.1 |
| DEN NETWORKS LTD | 1,164 | 7.8 | 0.30 | 3.8 | 4.3 | 5.4 | (5.7) | 28.0 |
| NDTV LTD | 698 | — | 5.41 | — | (250.2) | (82.5) | 8.1 | (55.5) |
| GTPL HATHWAY LIMITED | 607 | 80.6 | 0.48 | 1.9 | 1.0 | 1.0 | 8.6 | 10.8 |
| TV TODAY NETWORK LTD | 607 | 35.2 | 0.68 | 9.6 | 1.6 | 3.3 | 0.6 | 10.8 |
| ZEE MEDIA CORPORATION LTD | 463 | — | 2.07 | 3.9 | 0.9 | (1.8) | 3.2 | 9.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.2 | 19.2 | 4 of 9 | 63% |
| P/B | 2.0 | 0.6 | 11 of 14 | 23% |
| ROCE | 15.4 | 2.3 | 2 of 15 | 93% |
| ROE | 11.4 | 1.3 | 1 of 14 | 100% |
| Debt / Equity | 0.0 | 0.0 | 1 of 14 | 69% |
| EBITDA margin | 62.5 | 9.4 | 2 of 17 | 94% |
| Revenue growth | 13.0 | 4.5 | 3 of 16 | 87% |
| Profit growth | 17.0 | (28.2) | 5 of 16 | 73% |
| Market cap | 24827 | 320 | 1 of 17 | 100% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Record date set for possible second interim dividend | corporate actions | high | — | — |
| 22 Oct 2026 · Board meeting on Oct 30, 2026 to consider Q2 results and interim dividend | results | low | — | — |
| 9 Oct 2026 · Routine compliance certificate for quarter ended September 30, 2026 | compliance | minimal | — | — |
| 30 Sept 2026 · Sun TV denies rumour on sports division demerger | strategic transactions | high | — | — |
| 30 Sept 2026 · BSE seeks clarification from Sun TV Network on news report | compliance | medium | — | — |
| 29 Sept 2026 · Trading window closed for insiders ahead of Q2 results | compliance | minimal | — | — |
| 21 Sept 2026 · Sun TV 41st AGM: All 4 resolutions passed with over 99% approval | board shareholder meetings | low | — | — |
| 18 Sept 2026 · Sun TV 41st AGM: 4 Resolutions Passed Including Dividend Confirmation | board shareholder meetings | low | — | — |
| 1 Sept 2026 · COO Mr. C Praveen retires from Sun TV Network | management changes | high | — | — |
| 28 Aug 2026 · Sun TV publishes newspaper notice for 41st AGM | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.