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Music Broadcast

NSEI:RADIOCITY
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RADIOCITY
NSEI
₹5B
Market Cap
  1. Home
  2. IN
  3. Media
Company description

Music Broadcast Limited owns and operates FM radio stations under the Radio City brand name. The last earnings update was 73 days ago. More info.


Add to Portfolio Compare Print
  • Music Broadcast has significant price volatility in the past 3 months.
RADIOCITY Share Price and Events
7 Day Returns
-4.1%
NSEI:RADIOCITY
11.7%
IN Media
5.7%
IN Market
1 Year Returns
-68.9%
NSEI:RADIOCITY
-58.6%
IN Media
-26.5%
IN Market
RADIOCITY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Music Broadcast (RADIOCITY) -4.1% -33% -36.8% -68.9% -75.4% -
IN Media 11.7% -22.3% -37% -58.6% -71.2% -63.2%
IN Market 5.7% -15.5% -26.4% -26.5% -18.9% -8.7%
1 Year Return vs Industry and Market
  • RADIOCITY underperformed the Media industry which returned -58.6% over the past year.
  • RADIOCITY underperformed the Market in India which returned -26.5% over the past year.
Price Volatility
RADIOCITY
Industry
5yr Volatility vs Market

RADIOCITY Value

 Is Music Broadcast undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Music Broadcast to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Music Broadcast.

NSEI:RADIOCITY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13.1%
Perpetual Growth Rate 10-Year IN Government Bond Rate 6.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:RADIOCITY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 6.5%
Equity Risk Premium S&P Global 7.9%
Media Unlevered Beta Simply Wall St/ S&P Global 0.68
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.675 (1 + (1- 35%) (19.52%))
0.84
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 6.48% + (0.84 * 7.85%)
13.07%

Discounted Cash Flow Calculation for NSEI:RADIOCITY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Music Broadcast is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NSEI:RADIOCITY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 13.07%)
2020 637.44 Est @ 9.35% 563.74
2021 691.53 Est @ 8.49% 540.87
2022 746.05 Est @ 7.88% 516.05
2023 801.73 Est @ 7.46% 490.45
2024 859.20 Est @ 7.17% 464.84
2025 919.01 Est @ 6.96% 439.71
2026 981.66 Est @ 6.82% 415.39
2027 1,047.59 Est @ 6.72% 392.04
2028 1,117.20 Est @ 6.65% 369.75
2029 1,190.89 Est @ 6.6% 348.57
Present value of next 10 years cash flows ₹4,541.00
NSEI:RADIOCITY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ₹1,190.89 × (1 + 6.48%) ÷ (13.07% – 6.48%)
₹19,233.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹19,233.99 ÷ (1 + 13.07%)10
₹5,629.74
NSEI:RADIOCITY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹4,541.00 + ₹5,629.74
₹10,170.74
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹10,170.74 / 345.69
₹29.42
NSEI:RADIOCITY Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:RADIOCITY represents 0.98882x of BSE:540366
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98882x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 29.42 x 0.98882
₹29.09
Value per share (INR) From above. ₹29.09
Current discount Discount to share price of ₹14.15
= -1 x (₹14.15 - ₹29.09) / ₹29.09
51.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Music Broadcast is available for.
Intrinsic value
>50%
Share price is ₹14.15 vs Future cash flow value of ₹29.09
Current Discount Checks
For Music Broadcast to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Music Broadcast's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Music Broadcast's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Music Broadcast's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Music Broadcast's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:RADIOCITY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in INR ₹1.60
BSE:540366 Share Price ** BSE (2020-04-09) in INR ₹14.31
India Media Industry PE Ratio Median Figure of 30 Publicly-Listed Media Companies 8.35x
India Market PE Ratio Median Figure of 2,616 Publicly-Listed Companies 9.64x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Music Broadcast.

NSEI:RADIOCITY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:540366 Share Price ÷ EPS (both in INR)

= 14.31 ÷ 1.60

8.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Music Broadcast is overvalued based on earnings compared to the IN Media industry average.
  • Music Broadcast is good value based on earnings compared to the India market.
Price based on expected Growth
Does Music Broadcast's expected growth come at a high price?
Raw Data
NSEI:RADIOCITY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
India Media Industry PEG Ratio Median Figure of 11 Publicly-Listed Media Companies 0.53x
India Market PEG Ratio Median Figure of 399 Publicly-Listed Companies 0.85x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Music Broadcast, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Music Broadcast's assets?
Raw Data
NSEI:RADIOCITY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in INR ₹18.25
BSE:540366 Share Price * BSE (2020-04-09) in INR ₹14.31
India Media Industry PB Ratio Median Figure of 43 Publicly-Listed Media Companies 0.72x
India Market PB Ratio Median Figure of 3,614 Publicly-Listed Companies 0.65x
NSEI:RADIOCITY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:540366 Share Price ÷ Book Value per Share (both in INR)

= 14.31 ÷ 18.25

0.78x

* Primary Listing of Music Broadcast.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Music Broadcast is overvalued based on assets compared to the IN Media industry average.
X
Value checks
We assess Music Broadcast's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Media industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Media industry average (and greater than 0)? (1 check)
  5. Music Broadcast has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

RADIOCITY Future Performance

 How is Music Broadcast expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Music Broadcast has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.7%
Expected Media industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Music Broadcast expected to grow at an attractive rate?
  • Unable to compare Music Broadcast's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Music Broadcast's earnings growth to the India market average as no estimate data is available.
  • Unable to compare Music Broadcast's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NSEI:RADIOCITY Future Growth Rates Data Sources
Data Point Source Value (per year)
India Media Industry Earnings Growth Rate Market Cap Weighted Average 16.7%
India Media Industry Revenue Growth Rate Market Cap Weighted Average 10.6%
India Market Earnings Growth Rate Market Cap Weighted Average 19.5%
India Market Revenue Growth Rate Market Cap Weighted Average 8.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:RADIOCITY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:RADIOCITY Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-04-09
NSEI:RADIOCITY Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-12-31 2,838 555
2019-09-30 3,012 821 617
2019-06-30 3,188 566
2019-03-31 3,247 855 616
2018-12-31 3,188 595
2018-09-30 3,079 550
2018-06-30 3,036 544
2018-03-31 2,982 401 517
2017-12-31 2,889 400
2017-09-30 2,855 383
2017-06-30 2,733 326
2017-03-31 2,714 789 367

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Music Broadcast is high growth as no earnings estimate data is available.
  • Unable to determine if Music Broadcast is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:RADIOCITY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Music Broadcast Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:RADIOCITY Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-04-09
NSEI:RADIOCITY Past Financials Data
Date (Data in INR Millions) EPS *
2019-12-31 1.60
2019-09-30 1.78
2019-06-30 1.62
2019-03-31 1.75
2018-12-31 1.68
2018-09-30 1.54
2018-06-30 1.53
2018-03-31 1.45
2017-12-31 1.17
2017-09-30 1.19
2017-06-30 1.08
2017-03-31 1.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Music Broadcast will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Music Broadcast is trading at Music Broadcast'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Music Broadcast's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Media companies here
  3. Music Broadcast's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Music Broadcast's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Music Broadcast has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

RADIOCITY Past Performance

  How has Music Broadcast performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Music Broadcast's growth in the last year to its industry (Media).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Music Broadcast's year on year earnings growth rate has been positive over the past 5 years.
  • Music Broadcast's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Music Broadcast's 1-year earnings growth is negative, it can't be compared to the IN Media industry average.
Earnings and Revenue History
Music Broadcast's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Music Broadcast Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:RADIOCITY Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,838.18 554.68 573.44
2019-09-30 3,011.98 616.78 573.44
2019-06-30 3,188.10 565.50
2019-03-31 3,247.08 616.18 573.44
2018-12-31 3,187.68 595.17 461.06
2018-09-30 3,079.38 550.27 461.06
2018-06-30 3,036.18 543.77 461.06
2018-03-31 2,982.48 517.17 461.06
2017-12-31 2,888.66 399.59 409.48
2017-09-30 2,854.76 382.79 409.48
2017-06-30 2,732.81 326.21 299.06
2017-03-31 2,714.16 366.59 409.48
2016-12-31 2,627.21 336.24 135.83
2016-09-30 2,663.01 624.53 473.12
2016-06-30 2,493.16 524.80 406.35
2016-03-31 2,254.77 276.23 349.27
2015-09-30 2,094.95 373.33 319.46
2015-06-30 2,051.65 421.28 334.76
2015-03-31 2,008.35 469.23 350.06
2014-03-31 1,541.66 247.54 314.60

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Music Broadcast has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Music Broadcast used its assets less efficiently than the IN Media industry average last year based on Return on Assets.
  • Music Broadcast's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Music Broadcast's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Media industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Music Broadcast has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

RADIOCITY Health

 How is Music Broadcast's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Music Broadcast's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Music Broadcast is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Music Broadcast's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Music Broadcast's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Music Broadcast Company Filings, last reported 3 months ago.

NSEI:RADIOCITY Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 6,302.60 1,012.10 2,716.10
2019-09-30 6,302.60 1,012.10 2,716.10
2019-06-30 6,033.20 156.30 2,490.60
2019-03-31 6,033.19 737.43 2,351.24
2018-12-31 6,026.40 499.30 1,223.10
2018-09-30 6,026.40 499.30 1,223.10
2018-06-30 5,998.61 499.11 631.39
2018-03-31 5,998.61 499.11 631.39
2017-12-31 5,712.80 1,623.40 1,859.70
2017-09-30 5,712.80 1,623.40 1,859.70
2017-06-30 5,481.08 1,497.80 2,822.72
2017-03-31 5,481.08 1,497.80 2,822.72
2016-12-31
2016-09-30 1,401.56 3,002.40 459.95
2016-06-30 1,073.92 3,057.40 299.78
2016-03-31 2,100.28 2,225.99 273.60
2015-09-30
2015-06-30 571.68 2,931.57 550.60
2015-03-31 571.68 2,931.57 550.60
2014-03-31 103.48 1,282.15 346.51
  • Music Broadcast's level of debt (16.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (552.9% vs 16.1% today).
  • Debt is well covered by operating cash flow (81.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 17.7x coverage).
X
Financial health checks
We assess Music Broadcast's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Music Broadcast has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

RADIOCITY Dividends

 What is Music Broadcast's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Music Broadcast dividends.
If you bought ₹2,000 of Music Broadcast shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Music Broadcast's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Music Broadcast's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:RADIOCITY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Media Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 5.1%
India Market Average Dividend Yield Market Cap Weighted Average of 1419 Stocks 1.8%
India Minimum Threshold Dividend Yield 10th Percentile 0.4%
India Bottom 25% Dividend Yield 25th Percentile 0.9%
India Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:RADIOCITY Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2020-04-09

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Music Broadcast has not reported any payouts.
  • Unable to verify if Music Broadcast's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Music Broadcast's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Music Broadcast has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Music Broadcast's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.4%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Music Broadcast afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Music Broadcast has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

RADIOCITY Management

 What is the CEO of Music Broadcast's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ashit Kukian
COMPENSATION ₹11,149,794
TENURE AS CEO 1.6 years
CEO Bio

Mr. Ashit Kukian serves as the Chief Executive Officer of Music Broadcast Limited since September 12, 2018. Mr. Kukian serves as President of Revenue at Times Television. He interacts closely with the Content, Distribution, Marketing and other enabling functions to ensure that business objectives are met. In his last assignment at Radio City, he led a robust team and was responsible for driving revenues for the brand through traditional and non-traditional revenue streams. He served as President and Chief Operating Officer at Music Broadcast Limited since November 03, 2005 Until November 11, 2015. A veteran sales specialist, his expertise in sales spans over two decades. With over 15 years experience in the business of media management, he has an in-depth exposure in the marketing of print and television media. Prior to venturing into the radio industry, he had a 13 year stint with Bennett Coleman & Company. As part of his portfolio there, he led a significant turnaround at Zoom Television, where within a year of launch, he was instrumental in positioning the channel as a premium Hindi entertainment channel for a high-end urban audience. He has deep knowledge across various media platforms such as print, broadcasting (TV and Radio), with over 30 years of hands-on experience across organisations such as Times Network, Radio City, ITV Network, Laboratories Garnier Paris, Berger Paints and Johnson & Johnson.

CEO Compensation
  • Ashit's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Ashit's remuneration is higher than average for companies of similar size in India.
Management Team

Ashit Kukian

TITLE
Chief Executive Officer
COMPENSATION
₹11M
TENURE
1.6 yrs

Chirag Bagadia

TITLE
Company Secretary & Compliance Officer
COMPENSATION
₹2M
AGE
37

Rajendra Agarwal

TITLE
Chief Financial Officer
AGE
58

Alok Barua

TITLE
Chief Technology Officer
COMPENSATION
₹5M
AGE
44

Kartik Kalla

TITLE
Executive VP & National Head of Programming
COMPENSATION
₹8M
AGE
46

Avinash Nair

TITLE
Senior Vice President of Sales & Special Projects
COMPENSATION
₹5M
AGE
42

Rachna Kanwar

TITLE
Chief Operating Officer of Digital Media
COMPENSATION
₹5M
AGE
48

Deepa Dave

TITLE
Executive Vice President
COMPENSATION
₹5M
AGE
45

Ravi Thakur

TITLE
Executive Vice President
COMPENSATION
₹5M
AGE
45

Abhinendra Tewari

TITLE
Vice President
COMPENSATION
₹4M
AGE
43
Board of Directors Tenure

Average tenure and age of the Music Broadcast board of directors in years:

3.4
Average Tenure
53
Average Age
  • The tenure for the Music Broadcast board of directors is about average.
Board of Directors

Vijay Tandon

TITLE
Independent Non-Executive Chairman
COMPENSATION
₹400K
AGE
75
TENURE
3.4 yrs

Anuj Puri

TITLE
Non-Executive Independent Director
COMPENSATION
₹240K
AGE
53
TENURE
3.9 yrs

Madhukar Kamath

TITLE
Non-Executive Independent Director
COMPENSATION
₹280K
TENURE
2.9 yrs

Apurva Purohit

TITLE
Non-Executive Director
AGE
53
TENURE
5.7 yrs

Rahul Gupta

TITLE
Non-Executive Director
AGE
39
TENURE
4.6 yrs

Shailesh Gupta

TITLE
Non-Executive Director
AGE
50
TENURE
1.3 yrs

Anita Nayyar

TITLE
Additional Woman Independent Director
AGE
58
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
24. Mar 20 Buy Jagran Media Network Investment Private Limited Company 23. Mar 20 23. Mar 20 5,325 ₹14.53 ₹77,351
04. Mar 20 Buy Jagran Media Network Investment Private Limited Company 14. Nov 19 15. Nov 19 57,500 ₹23.72 ₹1,363,683
30. Aug 19 Buy Jagran Media Network Investment Private Limited Company 28. Aug 19 28. Aug 19 6,250 ₹29.47 ₹184,167
14. Aug 19 Buy Jagran Media Network Investment Private Limited Company 13. Aug 19 13. Aug 19 150,000 ₹32.81 ₹4,920,885
X
Management checks
We assess Music Broadcast's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Music Broadcast has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

RADIOCITY News

Simply Wall St News

Why We Think Music Broadcast Limited (NSE:RADIOCITY) Could Be Worth Looking At

For those interested in digging a bit deeper into my commentary, take a look at the report on Music Broadcast here.Flawless balance sheet with reasonable growth potential RADIOCITY's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. … This indicates that RADIOCITY has sufficient cash flows and proper cash management in place, which is a key determinant of the company’s health. … RADIOCITY's has produced operating cash levels of 5.47x total debt over the past year, which implies that RADIOCITY's management has put its borrowings into good use by generating enough cash to cover a sufficient portion of borrowings.

Simply Wall St -

What Is Music Broadcast's (NSE:RADIOCITY) P/E Ratio After Its Share Price Tanked?

Unfortunately for some shareholders, the Music Broadcast (NSE:RADIOCITY) share price has dived 30% in the last thirty days. … NSEI:RADIOCITY Price Estimation Relative to Market, August 23rd 2019 Its relatively high P/E ratio indicates that Music Broadcast shareholders think it will perform better than other companies in its industry classification. … Music Broadcast saw earnings per share improve by -6.0% last year.

Simply Wall St -

What Is Music Broadcast's (NSE:RADIOCITY) P/E Ratio After Its Share Price Tanked?

NSEI:RADIOCITY Price Estimation Relative to Market, August 9th 2019 That means that the market expects Music Broadcast will outperform other companies in its industry. … Music Broadcast saw earnings per share improve by -6.0% last year. … Music Broadcast's Balance Sheet Music Broadcast has net cash of ₹2.3b.

Simply Wall St -

Read This Before Judging Music Broadcast Limited's (NSE:RADIOCITY) ROE

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Music Broadcast: 9.4% = ₹566m ÷ ₹6.0b (Based on the trailing twelve months to June 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Music Broadcast's Debt And Its 9.4% ROE Although Music Broadcast does use a little debt, its debt to equity ratio of just 0.026 is very low. … In my book the highest quality companies have high return on equity, despite low debt.

Simply Wall St -

Is Music Broadcast (NSE:RADIOCITY) Using Too Much Debt?

While Music Broadcast has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. … This free cash flow puts the company in a good position to pay down debt, when appropriate. … Summing up While it is always sensible to investigate a company's debt, in this case Music Broadcast has ₹2.3b in net cash and a decent-looking balance sheet.

Simply Wall St -

Is Music Broadcast Limited’s (NSE:RADIOCITY) Return On Capital Employed Any Good?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Music Broadcast: 0.14 = ₹861m ÷ (₹7.3b - ₹1.1b) (Based on the trailing twelve months to March 2019.) So, Music Broadcast has an ROCE of 14%. … View our latest analysis for Music Broadcast Is Music Broadcast's ROCE Good? … What Are Current Liabilities, And How Do They Affect Music Broadcast's ROCE?

Simply Wall St -

Those Who Purchased Music Broadcast (NSE:RADIOCITY) Shares A Year Ago Have A 12% Loss To Show For It

Unfortunately the Music Broadcast Limited (NSE:RADIOCITY) share price slid 12% over twelve months. … Even though the Music Broadcast share price is down over the year, its EPS actually improved. … So we recommend checking out this free report showing consensus forecasts A Different Perspective While Music Broadcast shareholders are down 12% for the year, the market itself is up 0.9%.

Simply Wall St -

What Does Music Broadcast Limited's (NSE:RADIOCITY) P/E Ratio Tell You?

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Music Broadcast: P/E of 27.84 = ₹58.5 ÷ ₹2.1 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … Since Music Broadcast holds net cash of ₹724m, it can spend on growth, justifying a higher P/E ratio than otherwise. … The Verdict On Music Broadcast's P/E Ratio Music Broadcast trades on a P/E ratio of 27.8, which is above the IN market average of 15.5.

Simply Wall St -

Calculating The Fair Value Of Music Broadcast Limited (NSE:RADIOCITY)

by projecting its future cash flows and then discounting them to today's value. … I will use the Discounted Cash Flow (DCF) model. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model

Simply Wall St -

A Holistic Look At Music Broadcast Limited (NSE:RADIOCITY)

Music Broadcast Limited (NSE:RADIOCITY) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of RADIOCITY, it

Simply Wall St -

RADIOCITY Company Info

Description

Music Broadcast Limited owns and operates FM radio stations under the Radio City brand name. Its radio stations deliver film, non-film, devotional, regional, and international music, as well as radio jockey (RJ) hosted shows. The company operates its radio stations in 39 cities in India. It also operates Web radio stations that offer news, videos, shows, radio city properties, and scoops on celebrities, as well as access to Radio City RJs. In addition, the company operates online platform radiocity.in, which has 52 radio stations in 11 languages; and ‘Radio City’ mobile app that plays 37 radio stations in 10 languages comprising approximately 900 playlist with 12000 songs and 8000 podcasts. The company was incorporated in 1999 and is headquartered in Mumbai, India. Music Broadcast Limited is a subsidiary of Jagran Prakashan Limited.

Details
Name: Music Broadcast Limited
RADIOCITY
Exchange: NSEI
Founded: 1999
₹5,185,284,375
345,685,625
Website: http://www.radiocity.in
Address: Music Broadcast Limited
RNA Corporate Park,
5th Floor,
Mumbai,
Maharashtra, 400051,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 540366 Equity Shares Mumbai Stock Exchange IN INR 17. Mar 2017
NSEI RADIOCITY Equity Shares National Stock Exchange of India IN INR 17. Mar 2017
Number of employees
Current staff
Staff numbers
491
Music Broadcast employees.
Industry
Broadcasting
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 13:22
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2020/01/30
Last earnings filing: 2020/01/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.