Buy Sun TV; target of Rs 575: Dolat Capital

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Dolat Capital's research report on Sun TV

Sun TV maintains a dominant position in the southern states as one of the largest television and radio entertainment company with a portfolio of TV channels spread across four languages and in genres of GEC, news, music, action, life, movies, kids and comedy. It also has a large pan India network in the FM Radio broadcasting segment along with its subsidiaries. It continues to consolidate its leadership position by fortifying its hold over key aspects of pricing and content.

Outlook

SUTV is currently trading at an attractive 14.7/12/11x FY21/22/23E EPS with attractive dividend yield of ~4% with strong BS (C&CE at ~16% of Mcap) and leadership position in Southern markets. We have a BUY with TP of Rs 575 @ 14x Jun-22E EPS.

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