Dish TV India Ltd
OTC:DTTVY
Dish TV India Ltd
Dish TV India Ltd. engages in the operation and distribution of direct-to-home and teleport services. The company is headquartered in Noida, Uttar Pradesh and currently employs 388 full-time employees. The company went IPO on 2007-04-18. The firm provides Android-powered hybrid high definition (HD) set-top boxes called DishSMRT Hub and D2H Stream for Dish TV and D2H brands respectively. The set-top box can convert an ordinary TV into an Android-powered smart TV to enable online content, games, and smart services through the Google Play store. The company also owns the Zing brand under its umbrella. The company has been associated with the players in the over-the-top (OTT) and entertainment space like Amazon Prime Video, Zee5, Sony Liv, YouTube, Eros Now, MX Player, Hungama, and others. The company also provides its in-house OTT platform, Watcho that enables downloads. The firm also provides a range of packages that caters to all segment according to the needs of various customers. The firm also offers value-added service Shorts TV Active in partnership with ShortsTV, a TV channel dedicated to short movies.
Dish TV India Ltd. engages in the operation and distribution of direct-to-home and teleport services. The company is headquartered in Noida, Uttar Pradesh and currently employs 388 full-time employees. The company went IPO on 2007-04-18. The firm provides Android-powered hybrid high definition (HD) set-top boxes called DishSMRT Hub and D2H Stream for Dish TV and D2H brands respectively. The set-top box can convert an ordinary TV into an Android-powered smart TV to enable online content, games, and smart services through the Google Play store. The company also owns the Zing brand under its umbrella. The company has been associated with the players in the over-the-top (OTT) and entertainment space like Amazon Prime Video, Zee5, Sony Liv, YouTube, Eros Now, MX Player, Hungama, and others. The company also provides its in-house OTT platform, Watcho that enables downloads. The firm also provides a range of packages that caters to all segment according to the needs of various customers. The firm also offers value-added service Shorts TV Active in partnership with ShortsTV, a TV channel dedicated to short movies.
Subscriber Growth: Net subscriber additions were slow in Q2, with only 42,000 added, but management expects a stronger second half driven by seasonal and macro improvements.
Financial Performance: Revenue and EBITDA were soft, but EBITDA margin remained robust at 58.3%. Cash flow in the first half was INR 70–80 crores.
Competitive Pressure: Intense price undercutting, especially in South India, pressured ARPU and subscriber acquisition; Dish TV chose not to aggressively match unsustainable pricing.
Product Innovation: Launch of Dish SMRT Hub and SMRT Kit received encouraging response, aiming to upgrade existing subscribers and compete with OTT devices.
Debt & Cash Flow: Net debt was INR 1,700 crores, with plans to reduce it to INR 1,300–1,400 crores by year-end; no additional debt is expected for foreseeable obligations.
Guidance: Management expects improved subscriber growth and stable EBITDA margins in H2, with CapEx kept under INR 700 crores for the year.
