GTPL Hathway – Fairly Priced After The Run Up: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

GTPL Hathway Ltd. is a leading multi system operator (number two in terms of subscribers) offering cable television and broadband services with a strong presence in Gujarat (number one), West Bengal (number two) and 13 other states.

Expansion into new states and digitisation has led to strong topline and earnings growth of ~27% and ~86% compound annual growth rate, respectively, over FY16-21.

Net debt free company with robust return ratios.

GTPL Hathway reported stable Q1 FY22 performance.

Core revenue grew 23.7% YoY to Rs 575.5 crore driven by sharp jump of ~74% YoY in broadband revenues to Rs 91.8 crore, owing to addition of 55,000 subscribers during Q1 and 54% YoY growth in cable placement, carriage revenues at Rs 187 crore.

Click on the attachment to read the full report:

ICICI Direct GTPL Company Update.pdf


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