TV Broadcasting & Software Production · Founded 2007 · www.tvvision.in · BSE 540083 · NSE TVVISION · ISIN INE871L01013
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Business
TV Vision Ltd. operates in the TV Broadcasting and Software Production sector in India. Its core business likely involves the creation, acquisition, and distribution of television content, as well as the operation of one or more television channels. The "Software Production" aspect typically refers to the production of various forms of content (e.g., TV shows, films, documentaries, short-form digital content) that are then broadcast or licensed. The company primarily makes money through advertising revenues generated from its broadcast channels, distribution fees from cable and DTH operators for carrying its channels, and potentially through licensing its produced content to other broadcasters or digital platforms.
Revenue Mix
Without specific financial data, the key segments for a company in this industry would typically include:
Broadcasting: Revenue generated primarily from advertising sales on its TV channels.
Content Production/Licensing: Revenue from creating original content for its own channels or licensing it to third-party broadcasters, OTT platforms, or other media entities.
Distribution: Revenue derived from carriage fees paid by cable operators and DTH providers for broadcasting its channels.
The exact revenue mix would depend on whether the company primarily operates channels, focuses on content production, or has a balanced approach.
Industry
The Indian TV broadcasting and content production industry is large, dynamic, and highly competitive. It is characterized by the presence of major national and international media conglomerates (e.g., Disney Star, Zee Entertainment, Sony Pictures Networks, Viacom18), numerous regional broadcasters, and independent content production houses. The industry is also undergoing significant disruption from the rapid growth of over-the-top (OTT) streaming platforms. TV Vision Ltd.'s positioning would depend on its scale, target audience, genre focus (e.g., general entertainment, news, regional, niche), and content strength. It would likely compete for viewership, advertising spend, and content talent with both established and emerging players in the linear TV and digital content space.
MOAT
For a company in this sector, potential competitive advantages (moats) could include:
Brand Equity & Viewer Loyalty: Strong, recognized channel brands that command high viewership in specific genres or regions.
Content Library: A deep and popular library of owned content that can be leveraged across platforms and licensed.
Scale & Distribution: Ability to achieve wide distribution across various platforms (cable, DTH, digital) and invest significantly in high-quality content.
Talent Network: Strong relationships with creative talent (actors, directors, writers) and production houses.
Without specific details, it is difficult to ascertain the extent of TV Vision Ltd.'s durable competitive advantages.
Growth Drivers
Key factors that can drive growth for TV Vision Ltd. over the next 3-5 years include:
Increasing Advertising Spends: Growth in India's economy and consumer spending often translates to higher advertising budgets for TV and digital media.
Expanding Media Consumption: Continued growth in media consumption, particularly in Tier 2 and Tier 3 cities and rural areas, for both linear TV and digital content.
Content Innovation & Localization: Ability to produce compelling, high-quality, and relevant content, especially regional or niche programming that resonates with specific audiences.
Digital Adaptation: Successful strategy for adapting to the rise of digital platforms (OTT) through content licensing, launching proprietary digital assets, or a hybrid model.
Technological Advancements: Leveraging new technologies for production, distribution, and enhanced viewer experience.
Risks
Intense Competition: High fragmentation and competition from existing broadcasters, content producers, and rapidly growing OTT platforms.
Content Cost Inflation: Rising costs for acquiring or producing high-quality content, impacting profitability.
Advertising Market Volatility: Advertising revenues are cyclical and highly dependent on economic conditions and advertiser sentiment.
Regulatory Changes: Potential changes in broadcasting regulations, content policies, or tariff orders by bodies like TRAI and MIB, which can impact revenue and operational models.
Audience Shift to Digital: A significant and sustained migration of viewers from linear TV to digital platforms could erode traditional viewership and ad revenues if not adequately addressed.
Piracy: The threat of content piracy can impact revenue and intellectual property.
Management & Ownership
In India, publicly listed companies often have a significant promoter holding, indicating strong influence from the founding family or group. The quality of management in this sector is critical, as it requires a blend of creative vision, strategic business acumen, and adaptability to fast-changing media consumption patterns and technological advancements. Without specific information about TV Vision Ltd.'s management team or ownership structure, a general statement is that promoter commitment and management's ability to navigate industry shifts are crucial for sustained success.
Outlook
TV Vision Ltd. operates in an Indian media market that offers significant growth potential driven by a large and increasing consumer base and rising disposable incomes. The demand for diverse and quality content, both on traditional TV and digital platforms, remains robust. However, the company faces substantial challenges, including intense competition from well-capitalized domestic and international players, the ongoing shift in audience consumption towards digital streaming, and the ever-present pressure of content cost inflation. Its future prospects will heavily rely on its ability to consistently produce or acquire engaging content, effectively monetize its offerings across evolving distribution channels, and strategically adapt to the technological and regulatory landscape changes.
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| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 12 | 14 | 22 | 13 | 10 | 9 | 8 | 6 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 13 | 15 | 22 | 13 | 11 | 9 | 8 | 6 | 1 | 0 |
| Total Expenditure | 17 | 16 | 25 | 14 | 14 | 13 | 9 | 12 | 3 | 10 |
| Operating Profit | -4 | -1 | -3 | -1 | -3 | -4 | -1 | -6 | -2 | -10 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -9 | -5 | -7 | -5 | -7 | -8 | -5 | -10 | -6 | -13 |
| Provision for Tax | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -9 | -6 | -7 | -5 | -7 | -8 | -5 | -10 | -6 | -13 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | -9 | -6 | -7 | -5 | -7 | -8 | -5 | -10 | -6 | -13 |
| Adjusted Earnings Per Share | -2.3 | -1.4 | -1.8 | -1.4 | -1.7 | -2 | -1.3 | -2.6 | -1.6 | -3.4 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 127 | 137 | 176 | 123 | 117 | 110 | 68 | 80 | 71 | 58 | 53 | 14 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 0 |
| Total Income | 127 | 137 | 176 | 123 | 117 | 110 | 68 | 80 | 71 | 59 | 55 | 15 |
| Total Expenditure | 92 | 101 | 126 | 98 | 123 | 109 | 94 | 85 | 71 | 65 | 66 | 34 |
| Operating Profit | 35 | 36 | 51 | 25 | -6 | 1 | -26 | -5 | 0 | -6 | -11 | -19 |
| Interest | 15 | 10 | 17 | 10 | 0 | 2 | 1 | 2 | 1 | 1 | 1 | 0 |
| Depreciation | 13 | 18 | 21 | 28 | 28 | 28 | 26 | 25 | 19 | 17 | 15 | 16 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -1 | -1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 7 | 8 | 13 | -12 | -35 | -30 | -53 | -31 | -20 | -24 | -27 | -34 |
| Provision for Tax | 2 | 3 | 4 | 6 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 5 | 5 | 9 | -18 | -35 | -30 | -53 | -31 | -20 | -24 | -27 | -34 |
| Adjustments | 0 | -0 | 0 | -14 | -15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 5 | 5 | 9 | -32 | -50 | -30 | -53 | -31 | -20 | -24 | -27 | -34 |
| Adjusted Earnings Per Share | 0 | 0 | 2.5 | -9.2 | -14.5 | -8.6 | -15.2 | -8.6 | -5.4 | -6.1 | -6.9 | -8.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -9% | -13% | -14% | -8% |
| Operating Profit CAGR | 0% | 0% | NAN% | NAN% |
| PAT CAGR | 0% | 0% | 0% | NAN% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -34% | 38% | 20% | NA% |
| ROE Average | 0% | 0% | 0% | -15% |
| ROCE Average | 0% | -204% | -146% | -66% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 13 | 112 | 121 | 89 | 38 | 8 | -45 | -74 | -95 | -117 | -144 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 43 | 18 | 104 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | -14 | -9 | -5 | 1 | 1 | 2 | 2 | 3 | 3 | 2 | 2 |
| Total Current Liabilities | 123 | 75 | 48 | 151 | 164 | 167 | 188 | 184 | 181 | 192 | 198 |
| Total Liabilities | 165 | 196 | 269 | 240 | 203 | 177 | 145 | 112 | 89 | 78 | 56 |
| Fixed Assets | 88 | 86 | 133 | 185 | 157 | 128 | 102 | 78 | 59 | 42 | 27 |
| Other Non-Current Assets | 40 | 50 | 64 | 20 | 5 | 5 | 5 | 5 | 5 | 8 | 7 |
| Total Current Assets | 37 | 60 | 72 | 35 | 42 | 43 | 38 | 29 | 25 | 28 | 22 |
| Total Assets | 165 | 196 | 269 | 240 | 203 | 177 | 145 | 112 | 89 | 78 | 56 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 1 | 2 | 2 | 1 | 1 | 2 | 1 | 1 | 1 | 1 |
| Cash Flow from Operating Activities | 50 | 44 | 50 | 66 | 1 | 2 | -4 | 1 | 4 | -6 | -0 |
| Cash Flow from Investing Activities | -17 | -1 | -97 | -51 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Cash Flow from Financing Activities | -33 | -42 | 47 | -17 | -0 | -2 | 3 | -2 | -3 | 7 | 1 |
| Net Cash Inflow / Outflow | 0 | 1 | 0 | -1 | 0 | 0 | -1 | -1 | 0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 1 | 2 | 2 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0 | 0 | 2.52 | -9.17 | -14.45 | -8.61 | -15.16 | -8.56 | -5.43 | -6.13 | -6.9 |
| CEPS(Rs) | 6.74 | 6.68 | 8.55 | 2.89 | -1.98 | -0.54 | -7.66 | -1.82 | -0.31 | -1.75 | -3.08 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 0 | 0 | 34.66 | 25.37 | 10.89 | 2.21 | -12.94 | -20.36 | -25.89 | -30.18 | -37.11 |
| Core EBITDA Margin(%) | 27.3 | 26.46 | 28.78 | 20.45 | -4.92 | 0.89 | -38.37 | -6 | 0.01 | -11.31 | -24.52 |
| EBIT Margin(%) | 17.1 | 13.49 | 16.85 | -2.02 | -29.62 | -25.85 | -76.67 | -36.76 | -26.06 | -38.94 | -48.97 |
| Pre Tax Margin(%) | 5.46 | 5.98 | 7.32 | -9.78 | -29.92 | -27.41 | -78 | -39.21 | -27.98 | -40.63 | -50.21 |
| PAT Margin (%) | 3.76 | 3.98 | 4.96 | -14.28 | -29.92 | -27.41 | -78.04 | -39.18 | -28 | -40.66 | -50.22 |
| Cash Profit Margin (%) | 14.04 | 17.04 | 16.96 | 8.19 | -5.89 | -1.73 | -39.45 | -8.33 | -1.61 | -11.65 | -22.4 |
| ROA(%) | 3.29 | 3.02 | 3.76 | -6.93 | -15.82 | -15.83 | -32.92 | -24.43 | -19.82 | -28.47 | -40.02 |
| ROE(%) | 21.7 | 8.69 | 7.49 | -16.81 | -55.38 | -131.37 | 0 | 0 | 0 | 0 | 0 |
| ROCE(%) | 16.66 | 11.75 | 14.4 | -1.12 | -19.64 | -21.45 | -57.59 | -58.54 | -78.73 | -532.73 | 0 |
| Receivable days | 49.25 | 70.3 | 63.23 | 87.74 | 88.04 | 97.27 | 138.26 | 96.57 | 85.59 | 85.62 | 77.88 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 5.35 | 4.29 | 0 | 0 | 0 |
| Payable days | 57.43 | 188.3 | 144.48 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 102.48 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 7.44 | 0.57 | 0.3 | 0.52 | -0.21 | -0.18 | -0.09 | -0.17 | -0.12 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.2 | 0.67 | 5.79 | 1.33 | 1.04 | 1 | 1.76 | 1.52 | 1.61 | 2.26 | 2.45 |
| EV/Core EBITDA(x) | 0.73 | 2.51 | 20.06 | 6.52 | -21.1 | 112.16 | -4.61 | -25.7 | 493.28 | -22.74 | -11.61 |
| Net Sales Growth(%) | 670.77 | 8.17 | 28.73 | -29.97 | -5.01 | -6.44 | -38.14 | 18.25 | -11.2 | -18.11 | -8.78 |
| EBIT Growth(%) | 260.98 | -14.67 | 60.7 | -108.41 | -1291.25 | 18.32 | -83.45 | 43.3 | 37.04 | -22.35 | -14.72 |
| PAT Growth(%) | 139.7 | 14.71 | 60.39 | -301.5 | -99.04 | 14.3 | -76.13 | 40.63 | 36.55 | -18.94 | -12.67 |
| EPS Growth(%) | 0 | 0 | 72 | -464.36 | -57.57 | 40.45 | -76.13 | 43.54 | 36.54 | -12.8 | -12.67 |
| Debt/Equity(x) | 0 | 0.52 | 1 | 1.3 | 2.93 | 13.88 | -2.46 | -1.46 | -1.12 | -0.97 | -0.79 |
| Current Ratio(x) | 0.3 | 0.8 | 1.49 | 0.23 | 0.26 | 0.26 | 0.2 | 0.16 | 0.14 | 0.14 | 0.11 |
| Quick Ratio(x) | 0.3 | 0.8 | 1.49 | 0.23 | 0.26 | 0.26 | 0.2 | 0.16 | 0.14 | 0.14 | 0.11 |
| Interest Cover(x) | 1.47 | 1.79 | 1.77 | -0.26 | -96.12 | -16.63 | -57.59 | -15.02 | -13.59 | -23.03 | -39.28 |
| Total Debt/Mcap(x) | 0 | 0 | 0.13 | 2.27 | 9.9 | 26.63 | 11.87 | 8.11 | 12.72 | 5.77 | 6.51 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.61 | 36.61 | 36.61 | 36.59 | 36.59 | 32.2 | 32.2 | 32.2 | 32.2 | 32.2 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 17 | 17 | 17 | 17.02 | 16.95 | 6.07 | 5.95 | 5.95 | 5.95 | 5.95 |
| Public | 46.39 | 46.39 | 46.39 | 46.39 | 46.46 | 61.73 | 61.84 | 61.84 | 61.84 | 61.84 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.42 | 1.42 | 1.42 | 1.42 | 1.42 | 1.25 | 1.25 | 1.25 | 1.25 | 1.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.24 | 0.23 | 0.23 | 0.23 | 0.23 |
| Public | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 2.39 | 2.4 | 2.4 | 2.4 | 2.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -9% | -13% | -14% | -8% |
| Operating Profit CAGR | — | — | 0% | 0% |
| PAT CAGR | — | — | — | 0% |
| Share Price CAGR | -34% | +38% | +20% | — |
| ROE Average | 0% | 0% | 0% | -15% |
| ROCE Average | 0% | -204% | -146% | -66% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.61 | 36.61 | 36.61 | 36.59 | 36.59 | 32.2 | 32.2 | 32.2 | 32.2 | 32.2 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 17 | 17 | 17 | 17.02 | 16.95 | 6.07 | 5.95 | 5.95 | 5.95 | 5.95 |
| Public | 63.39 | 63.39 | 63.39 | 63.41 | 63.41 | 67.8 | 67.8 | 67.8 | 67.8 | 67.8 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.42 | 1.42 | 1.42 | 1.42 | 1.42 | 1.25 | 1.25 | 1.25 | 1.25 | 1.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.24 | 0.23 | 0.23 | 0.23 | 0.23 |
| Public | 2.46 | 2.46 | 2.46 | 2.46 | 2.46 | 2.63 | 2.63 | 2.63 | 2.63 | 2.63 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 |
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