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T.V. Today Network

NSEI:TVTODAY
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TVTODAY
NSEI
₹15B
Market Cap
  1. Home
  2. IN
  3. Media
Company description

T.V. Today Network Limited, together with its subsidiaries, engages in television programming and broadcasting activities in India. The last earnings update was 50 days ago. More info.


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  • T.V. Today Network has significant price volatility in the past 3 months.
TVTODAY Share Price and Events
7 Day Returns
-13.1%
NSEI:TVTODAY
-2.2%
IN Media
-2.5%
IN Market
1 Year Returns
-37.8%
NSEI:TVTODAY
-36.7%
IN Media
5%
IN Market
TVTODAY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
T.V. Today Network (TVTODAY) -13.1% -22.2% -21.3% -37.8% -17.4% 19.8%
IN Media -2.2% -5.9% -13.9% -36.7% -44.6% -37.2%
IN Market -2.5% -1.3% 5.7% 5% 23.4% 29.3%
1 Year Return vs Industry and Market
  • TVTODAY underperformed the Media industry which returned -36.7% over the past year.
  • TVTODAY underperformed the Market in India which returned 5% over the past year.
Price Volatility
TVTODAY
Industry
5yr Volatility vs Market

TVTODAY Value

 Is T.V. Today Network 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 T.V. Today Network 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 T.V. Today Network.

NSEI:TVTODAY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) 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:TVTODAY
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 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.759 (1 + (1- 35%) (1.8%))
0.845
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% + (0.845 * 7.85%)
13.11%

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

The calculations below outline how an intrinsic value for T.V. Today Network 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:TVTODAY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 13.11%)
2020 1,034.00 Analyst x1 914.14
2021 1,366.00 Analyst x1 1,067.67
2022 1,636.08 Est @ 19.77% 1,130.55
2023 1,894.33 Est @ 15.78% 1,157.26
2024 2,140.46 Est @ 12.99% 1,156.05
2025 2,376.75 Est @ 11.04% 1,134.88
2026 2,606.62 Est @ 9.67% 1,100.36
2027 2,833.76 Est @ 8.71% 1,057.59
2028 3,061.70 Est @ 8.04% 1,010.20
2029 3,293.61 Est @ 7.57% 960.76
Present value of next 10 years cash flows ₹10,689.00
NSEI:TVTODAY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ₹3,293.61 × (1 + 6.48%) ÷ (13.11% – 6.48%)
₹52,886.39
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹52,886.39 ÷ (1 + 13.11%)10
₹15,427.14
NSEI:TVTODAY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹10,689.00 + ₹15,427.14
₹26,116.14
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹26,116.14 / 59.66
₹437.74
NSEI:TVTODAY Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:TVTODAY represents 1.00085x of BSE:532515
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00085x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 437.74 x 1.00085
₹438.11
Value per share (INR) From above. ₹438.11
Current discount Discount to share price of ₹235.70
= -1 x (₹235.70 - ₹438.11) / ₹438.11
46.2%

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

Current Discount
Amount off the current price T.V. Today Network is available for.
Intrinsic value
46%
Share price is ₹235.7 vs Future cash flow value of ₹438.11
Current Discount Checks
For T.V. Today Network to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • T.V. Today Network's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • T.V. Today Network'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 T.V. Today Network's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are T.V. Today Network's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:TVTODAY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in INR ₹22.86
BSE:532515 Share Price ** BSE (2019-12-11) in INR ₹235.5
India Media Industry PE Ratio Median Figure of 28 Publicly-Listed Media Companies 12.08x
India Market PE Ratio Median Figure of 2,636 Publicly-Listed Companies 12.76x

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

** Primary Listing of T.V. Today Network.

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

= BSE:532515 Share Price ÷ EPS (both in INR)

= 235.5 ÷ 22.86

10.3x

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

  • T.V. Today Network is good value based on earnings compared to the IN Media industry average.
  • T.V. Today Network is good value based on earnings compared to the India market.
Price based on expected Growth
Does T.V. Today Network's expected growth come at a high price?
Raw Data
NSEI:TVTODAY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
21.4%per year
India Media Industry PEG Ratio Median Figure of 13 Publicly-Listed Media Companies 1.07x
India Market PEG Ratio Median Figure of 599 Publicly-Listed Companies 1.09x

*Line of best fit is calculated by linear regression .

NSEI:TVTODAY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.3x ÷ 21.4%

0.48x

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

  • T.V. Today Network is good value based on expected growth next year.
Price based on value of assets
What value do investors place on T.V. Today Network's assets?
Raw Data
NSEI:TVTODAY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in INR ₹159.54
BSE:532515 Share Price * BSE (2019-12-11) in INR ₹235.5
India Media Industry PB Ratio Median Figure of 42 Publicly-Listed Media Companies 1x
India Market PB Ratio Median Figure of 3,571 Publicly-Listed Companies 0.84x
NSEI:TVTODAY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:532515 Share Price ÷ Book Value per Share (both in INR)

= 235.5 ÷ 159.54

1.48x

* Primary Listing of T.V. Today Network.

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

  • T.V. Today Network is overvalued based on assets compared to the IN Media industry average.
X
Value checks
We assess T.V. Today Network'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. T.V. Today Network has a total score of 5/6, 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.

TVTODAY Future Performance

 How is T.V. Today Network expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
21.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is T.V. Today Network expected to grow at an attractive rate?
  • T.V. Today Network's earnings growth is expected to exceed the low risk savings rate of 6.5%.
Growth vs Market Checks
  • T.V. Today Network's earnings growth is expected to exceed the India market average.
  • T.V. Today Network's revenue growth is positive but not above the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:TVTODAY Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:TVTODAY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 21.4%
NSEI:TVTODAY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 7%
India Media Industry Earnings Growth Rate Market Cap Weighted Average 22.4%
India Media Industry Revenue Growth Rate Market Cap Weighted Average 10.6%
India Market Earnings Growth Rate Market Cap Weighted Average 19.8%
India Market Revenue Growth Rate Market Cap Weighted Average 11.5%

*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:TVTODAY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:TVTODAY Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 8,948 2,134 1,843 2
2020-03-31 8,289 1,586 1,463 1
2019-12-11
NSEI:TVTODAY Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-09-30 8,085 830 1,364
2019-06-30 7,998 1,424
2019-03-31 7,422 296 1,314
2018-03-31 7,209 1,520 1,189
2017-03-31 6,523 1,201 1,022

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • T.V. Today Network's earnings are expected to grow significantly at over 20% yearly.
  • T.V. Today Network's revenue is expected to grow by 7% yearly, however this is not considered high growth (20% yearly).
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:TVTODAY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from T.V. Today Network Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:TVTODAY Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 30.70 31.70 29.70 2.00
2020-03-31 24.10 24.10 24.10 1.00
2019-12-11
NSEI:TVTODAY Past Financials Data
Date (Data in INR Millions) EPS *
2019-09-30 22.86
2019-06-30 23.86
2019-03-31 22.03
2018-03-31 19.94
2017-03-31 17.13

*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 T.V. Today Network will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess T.V. Today Network'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.
T.V. Today Network has a total score of 3/6, 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.

TVTODAY Past Performance

  How has T.V. Today Network 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 T.V. Today Network'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.
  • T.V. Today Network's year on year earnings growth rate has been positive over the past 5 years.
  • T.V. Today Network's 1-year earnings growth is less than its 5-year average (9% vs 13.1%)
  • T.V. Today Network's earnings growth has not exceeded the IN Media industry average in the past year (9% vs 14.9%).
Earnings and Revenue History
T.V. Today Network'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 T.V. Today Network Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:TVTODAY Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 8,084.68 1,364.10 340.96
2019-06-30 7,997.99 1,423.94 340.96
2019-03-31 7,422.42 1,314.35 340.96
2018-03-31 7,209.23 1,189.36 300.54
2017-03-31 6,522.81 1,022.15 294.89
2016-03-31 5,816.00 633.64 257.44
2015-03-31 4,828.81 903.15
2014-03-31 3,894.44 613.25 1,414.88
2013-03-31 3,126.67 122.13 1,418.93

*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.
  • T.V. Today Network has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • T.V. Today Network used its assets more efficiently than the IN Media industry average last year based on Return on Assets.
  • T.V. Today Network's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess T.V. Today Network'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.
T.V. Today Network has a total score of 2/6, 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.

TVTODAY Health

 How is T.V. Today Network'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 T.V. Today Network's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • T.V. Today Network is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • T.V. Today Network's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of T.V. Today Network'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 166.5x 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 T.V. Today Network Company Filings, last reported 2 months ago.

NSEI:TVTODAY Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 9,508.86 42.93 4,053.78
2019-06-30 7,773.77 31.47 3,864.73
2019-03-31 7,773.77 31.47 3,864.73
2018-03-31 6,616.84 73.70 2,023.89
2017-03-31 5,810.26 348.17 2,610.00
2016-03-31 4,721.65 491.94 1,702.04
2015-03-31 4,500.07 67.26 947.19
2014-03-31 3,791.05 172.80 572.63
2013-03-31 3,246.21 601.70 313.07
  • T.V. Today Network's level of debt (0.5%) 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 (2.9% vs 0.5% today).
  • Debt is well covered by operating cash flow (1932.5%, greater than 20% of total debt).
  • T.V. Today Network earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess T.V. Today Network'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. T.V. Today Network 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.

TVTODAY Dividends

 What is T.V. Today Network'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
8.49%
Current annual income from T.V. Today Network dividends. Estimated to be 6.72% next year.
If you bought ₹2,000 of T.V. Today Network shares you are expected to receive ₹170 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?
  • T.V. Today Network's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.6%).
  • T.V. Today Network's dividend is above the markets top 25% of dividend payers in India (2.53%).
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:TVTODAY 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 2 Analyst Estimates (S&P Global) See Below
India Media Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1391 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.5%

Industry and Market average data is calculated daily.

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

NSEI:TVTODAY Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 12.05 2.00
2020-03-31 23.40 1.00
2019-12-11
NSEI:TVTODAY Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-10-22 20.000 6.822
2019-08-01 2.250 0.748
2018-05-22 2.250 0.640
2017-09-01 2.000 0.493
2017-05-26 2.000 0.803
2016-05-25 1.750 0.610
2015-07-20 1.500 0.553
2015-05-12 1.500 0.794
2014-07-24 1.000 0.479
2014-05-14 1.000 0.756
2013-09-23 0.750 0.707
2012-05-18 0.750 1.068
2011-05-30 0.750 1.339
2010-05-24 0.750 1.023
2009-06-01 0.750 0.721

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of T.V. Today Network's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (10.2x coverage).
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 T.V. Today Network's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - 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 T.V. Today Network afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. T.V. Today Network has a total score of 5/6, see the detailed checks below.


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

TVTODAY Management

 What is the CEO of T.V. Today Network'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
Kalli Bhandal
COMPENSATION ₹63,561,092
AGE 47
TENURE AS CEO 1.7 years
CEO Bio

Ms. Kalli Purie Bhandal serves as a Director of HarperCollins Publishers India Ltd. Ms. Bhandal serves as MD & Vice Chairperson since April 1, 2018 & had been Whole Time Director of T.V. Today Network Limited till April 1, 2018. She holds BA hons degree in politics, philosophy and Economics from Oxford University from October 1991 to June 1994.

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

Average tenure and age of the T.V. Today Network management team in years:

3.6
Average Tenure
48.5
Average Age
  • The tenure for the T.V. Today Network management team is about average.
Management Team

Aroon Purie

TITLE
Chairman of the Board
COMPENSATION
₹107M
AGE
75
TENURE
14.7 yrs

Kalli Bhandal

TITLE
MD & Vice Chairperson
COMPENSATION
₹64M
AGE
47
TENURE
1.7 yrs

Dinesh Bhatia

TITLE
Chief Financial Officer
COMPENSATION
₹30M
AGE
54
TENURE
5.6 yrs

Ashish Sabharwal

TITLE
Compliance Officer
COMPENSATION
₹4M
AGE
49
TENURE
0.3 yrs

Rahul Kanwal

TITLE
Managing Editor of TVTN
COMPENSATION
₹13M

Supriya Prasad

TITLE
Managing Editor
COMPENSATION
₹14M
AGE
48

Rehan Kidwai

TITLE
Vice President of Operations
COMPENSATION
₹6M
AGE
54

Vivek Malhotra

TITLE
Group Chief Marketing Officer
COMPENSATION
₹6M
AGE
41

P. Misra

TITLE
Head of Group HR
AGE
44

Deepak Sharma

TITLE
Board of Directors Tenure

Average tenure and age of the T.V. Today Network board of directors in years:

4.8
Average Tenure
61
Average Age
  • The tenure for the T.V. Today Network board of directors is about average.
Board of Directors

Aroon Purie

TITLE
Chairman of the Board
COMPENSATION
₹107M
AGE
75

Kalli Bhandal

TITLE
MD & Vice Chairperson
COMPENSATION
₹64M
AGE
47
TENURE
1.7 yrs

Anil Vig

TITLE
Non-Executive Independent Director
COMPENSATION
₹200K
AGE
53
TENURE
18.3 yrs

Ashok Kapur

TITLE
Independent Director
COMPENSATION
₹180K
AGE
72
TENURE
10.2 yrs

Dev Bhattacharya

TITLE
Non Executive Director
AGE
61
TENURE
5.8 yrs

Rajeev Gupta

TITLE
Non-Executive Independent Director
COMPENSATION
₹50K
AGE
61
TENURE
3.8 yrs

Neera Malhotra

TITLE
Additional Independent Director
AGE
64
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by T.V. Today Network individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
05. Nov 19 Buy Rahul Shaw Individual 30. Sep 19 30. Sep 19 399 ₹310.00 ₹123,690
01. Oct 19 Buy Rahul Shaw Individual 30. Sep 19 30. Sep 19 452 ₹310.00 ₹140,120
30. Sep 19 Buy Rahul Shaw Individual 27. Sep 19 27. Sep 19 1,953 ₹305.06 ₹595,790
30. May 19 Buy Rahul Shaw Individual 29. May 19 29. May 19 5,000 ₹267.00 ₹1,335,000
29. May 19 Buy Rahul Shaw Individual 28. May 19 28. May 19 8,000 ₹292.63 ₹2,318,149
29. May 19 Buy Aroon Purie Individual 27. May 19 27. May 19 264,883 ₹264.00 ₹69,929,104
20. Feb 19 Buy Aroon Purie Individual 19. Feb 19 20. Feb 19 36,860 ₹319.68 ₹11,714,097
19. Feb 19 Buy Aroon Purie Individual 18. Feb 19 18. Feb 19 5,588 ₹319.47 ₹1,785,207
18. Feb 19 Buy Aroon Purie Individual 15. Feb 19 15. Feb 19 3,276 ₹319.31 ₹1,046,045
15. Feb 19 Buy Aroon Purie Individual 13. Feb 19 14. Feb 19 17,776 ₹319.42 ₹5,656,044
X
Management checks
We assess T.V. Today Network'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. T.V. Today Network 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.

TVTODAY News

Simply Wall St News

3 Days Left Until T.V. Today Network Limited (NSE:TVTODAY) Trades Ex-Dividend

Today Network Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. … Today Network is paying out such a high percentage of its cash flow, it might be worth seeing if it sold assets or had similar events that might have led to such a high dividend payment. … Today Network's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend.

Simply Wall St -

A Spotlight On T.V. Today Network Limited's (NSE:TVTODAY) Fundamentals

NSEI:TVTODAY Historical Debt, August 13th 2019 Income investors would also be happy to know that TVTODAY is a great dividend company, with a current yield standing at 0.7%. … NSEI:TVTODAY Historical Dividend Yield, August 13th 2019 Next Steps: For T.V. … Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.

Simply Wall St -

What Kind Of Shareholders Own T.V. Today Network Limited (NSE:TVTODAY)?

Today Network NSEI:TVTODAY Ownership Summary, August 4th 2019 What Does The Institutional Ownership Tell Us About T.V. … Today Network does have institutional investors; and they hold 28% of the stock. … Private Company Ownership We can see that Private Companies own 58%, of the shares on issue.

Simply Wall St -

Why T.V. Today Network Limited’s (NSE:TVTODAY) Return On Capital Employed Is Impressive

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for T.V. … Today Network's Current Liabilities Skew Its ROCE? … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

How Much Are T.V. Today Network Limited (NSE:TVTODAY) Insiders Spending On Buying Shares?

Today Network Limited (NSE:TVTODAY), you may well want to know whether insiders have been buying or selling. … Today Network Over the last year, we can see that the biggest insider purchase was by Chairman of the Board Aroon Purie for ₹70m worth of shares, at about ₹264 per share. … Today Network insiders bought shares last year, they didn't sell.

Simply Wall St -

T.V. Today Network (NSE:TVTODAY) Seems To Use Debt Quite Sensibly

Today Network 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. … Today Network produced sturdy free cash flow equating to 52% of its EBIT, about what we'd expect. … Today Network has ₹3.8b in net cash and a decent-looking balance sheet.

Simply Wall St -

Can T.V. Today Network Limited (NSE:TVTODAY) Maintain Its Strong Returns?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for T.V. … Today Network: 17% = ₹1.3b ÷ ₹7.8b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … How Does Debt Impact Return On Equity?

Simply Wall St -

Do You Like T.V. Today Network Limited (NSE:TVTODAY) At This P/E Ratio?

Today Network Limited's (NSE:TVTODAY) P/E ratio and reflect on what it tells us about the company's share price. … Today Network has a price to earnings ratio of 12.39, based on the last twelve months. … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for T.V.

Simply Wall St -

Did You Miss T.V. Today Network's (NSE:TVTODAY) 84% Share Price Gain?

Today Network Limited (NSE:TVTODAY) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 14% in the last quarter. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Today Network managed to grow its earnings per share at 16% a year.

Simply Wall St -

T.V. Today Network Limited (NSE:TVTODAY): The Best Of Both Worlds

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … Today Network Limited (NSE:TVTODAY), it is a highly-regarded dividend payer that has been able to sustain great financial health over the past. … Flawless balance sheet established dividend payer TVTODAY's ability to maintain an adequate level of cash to meet upcoming liabilities is a good sign for its financial health.

Simply Wall St -

TVTODAY Company Info

Description

T.V. Today Network Limited, together with its subsidiaries, engages in television programming and broadcasting activities in India. The company operates through three segments: Television Broadcasting, Radio Broadcasting, and Newspaper Publishing. It operates Aaj Tak, a Hindi news channel; India Today Television, an English news channel; Dilli Aaj Tak; and Tez, a Hindi news channel. The company also operates three FM radio stations under the ISHQ 104.8 FM brand in Delhi, Mumbai, and Kolkata; and publishes newspaper. The company was incorporated in 1999 and is based in Noida, India. T.V. Today Network Limited is a subsidiary of Living Media India Limited.

Details
Name: T.V. Today Network Limited
TVTODAY
Exchange: NSEI
Founded: 1999
₹14,891,414,304
59,661,115
Website: http://www.aajtak.in
Address: T.V. Today Network Limited
India Today Group Mediaplex,
FC-8, Sector- 16A,
Noida,
Uttar Pradesh, 201301,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 532515 Equity Shares Mumbai Stock Exchange IN INR 16. Jan 2004
NSEI TVTODAY Equity Shares National Stock Exchange of India IN INR 16. Jan 2004
Number of employees
Current staff
Staff numbers
0
T.V. Today Network employees.
Industry
Broadcasting
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/11 12:54
End of day share price update: 2019/12/11 00:00
Last estimates confirmation: 2019/10/23
Last earnings filing: 2019/10/22
Last earnings reported: 2019/09/30
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.