Category: Cable TV

GTPL Hathway files listing prospectus

MUMBAI: GTPL Hathway Limited, a material subsidiary of Hathway Cable & Datacom Limited, has intimated the BSE and the NSE of filing of Draft Red Herring Prospectus by GTPL.

In the communique, Hathway Cable and Datacom head legal, company secretary & chief compliance officer Ajay Singh has stated: “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that GTPL Hathway Limited, a material subsidiary of the Company, has filed Draft Red Herring Prospectus with the Securities and Exchange Board of India as well as with both the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited.

As reported by indiantelevision.com earlier, the Hathway board had approved an initial public offering (IPO) proposal which seeks to raise funds for GTPL through a fresh issue of equity shares while giving an option to existing GTPL shareholders to sell their holdings. Hathway holds around 90 lakh shares in GTPL, according to a filing with the Bombay Stock Exchange, over the weekend.

Among the largest cable television operators in India, the listed Hathway Cable and Datacom Limited (Hathway) has a number of subsidiaries and partnership in the television signal carriage and broadband ecosystems in the company. The company has various levels of investments in these associations. One of its most profitable associations, and probably one of the largest contributors (besides Hathway itself) to Hathway’s consolidated numbers across major financial and operational parameters is GTPL Hathway Limited (GTPL), a material subsidiary, in which Hathway owns a 50 per cent stake.

Besides Hathway, another major shareholder of GTPL is its co-founder, Aniruddhasinhji Jadeja, who directly owns 14.6 per cent and controls another 29.1 per cent through another shareholding entity Gujarat Digi Com Private Limited which is majority owned by him. The other co-founder Kanaksinh Rana owns 5.2 per cent shares of GTPL.

Also Read:

Hathway Cable files GTPL details with BSE

January 2, 2017
GTPL Hathway files listing prospectus

MUMBAI: GTPL Hathway Limited, a material subsidiary of Hathway Cable & Datacom Limited, has intimated the BSE and the NSE of filing of Draft Red Herring Prospectus by GTPL.

In the communique, Hathway Cable and Datacom head legal, company secretary & chief compliance officer Ajay Singh has stated: “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that GTPL Hathway Limited, a material subsidiary of the Company, has filed Draft Red Herring Prospectus with the Securities and Exchange Board of India as well as with both the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited.

As reported by indiantelevision.com earlier, the Hathway board had approved an initial public offering (IPO) proposal which seeks to raise funds for GTPL through a fresh issue of equity shares while giving an option to existing GTPL shareholders to sell their holdings. Hathway holds around 90 lakh shares in GTPL, according to a filing with the Bombay Stock Exchange, over the weekend.

Among the largest cable television operators in India, the listed Hathway Cable and Datacom Limited (Hathway) has a number of subsidiaries and partnership in the television signal carriage and broadband ecosystems in the company. The company has various levels of investments in these associations. One of its most profitable associations, and probably one of the largest contributors (besides Hathway itself) to Hathway’s consolidated numbers across major financial and operational parameters is GTPL Hathway Limited (GTPL), a material subsidiary, in which Hathway owns a 50 per cent stake.

Besides Hathway, another major shareholder of GTPL is its co-founder, Aniruddhasinhji Jadeja, who directly owns 14.6 per cent and controls another 29.1 per cent through another shareholding entity Gujarat Digi Com Private Limited which is majority owned by him. The other co-founder Kanaksinh Rana owns 5.2 per cent shares of GTPL.

Also Read:

Hathway Cable files GTPL details with BSE

January 2, 2017
Demonetisation: Naidu claims there’s no slump in TV/film industry

NEW DELHI: Information and broadcasting minister M Venkaiah Naidu has denied reports of any slump in the entertainment industry because of demonetisation. Naidu said he had seen reports in the media but had not received any representations from any section of the television or film industry to the effect that it had suffered because of the demonetisation.

Addressing an end-of-year press meet, he said that there was no delay in the clearances of registration of multi-system operators and that was being done in accordance with the laid-down procedures, he said answering a question on security clearances being obtained “whenever needed’ for television channels or MSOs.

At the press meet which was largely about demonetisation and the stand of the opposition to it, Naidu said that the country was digitising at a pace that was unexpected. Young people who constituted the majority of the population were taking to mobile modes of payment and encouraging cashless banking. He denied any ‘policy paralysis’ and said digitisation was taking place in every sphere of public life.

Over ten million people had switched over to digital modes of payment in just 20 days after demonetisation. Even media analysts who had predicted negatively will have to admit the transformation and the fact that the present government was a scandal-free government.

Speaking later to indiantelevision.com, Naidu said it was for the MSOs to ensure that subscribers were not forced to buy cheap set-top boxes that did not meet the standards of the Bureau of Indian Standards.

December 29, 2016
Demonetisation: Naidu claims there’s no slump in TV/film industry

NEW DELHI: Information and broadcasting minister M Venkaiah Naidu has denied reports of any slump in the entertainment industry because of demonetisation. Naidu said he had seen reports in the media but had not received any representations from any section of the television or film industry to the effect that it had suffered because of the demonetisation.

Addressing an end-of-year press meet, he said that there was no delay in the clearances of registration of multi-system operators and that was being done in accordance with the laid-down procedures, he said answering a question on security clearances being obtained “whenever needed’ for television channels or MSOs.

At the press meet which was largely about demonetisation and the stand of the opposition to it, Naidu said that the country was digitising at a pace that was unexpected. Young people who constituted the majority of the population were taking to mobile modes of payment and encouraging cashless banking. He denied any ‘policy paralysis’ and said digitisation was taking place in every sphere of public life.

Over ten million people had switched over to digital modes of payment in just 20 days after demonetisation. Even media analysts who had predicted negatively will have to admit the transformation and the fact that the present government was a scandal-free government.

Speaking later to indiantelevision.com, Naidu said it was for the MSOs to ensure that subscribers were not forced to buy cheap set-top boxes that did not meet the standards of the Bureau of Indian Standards.

December 29, 2016
Bengal Broadband to offer cable TV & broadband services in W Bengal

MUMBAI: Here’s another cable TV consortium looking to provide digital cable TV and broadband services to eastern state of Kolkata. Under the umbrella of Bengal Broadband & Cable TV Services, the MSO is focusing its operations on Kolkata, North and South 24 Parganas, Burdwan, Birbhum, Nadia and Murshidabad markets.

Promoted by four cable operators as its directors Surendra Kumar Sancheti, Mrinal Chatterjee, Avit Sinha and Sagar Sengupta, the company launched its services in Kolkata last week. Said managing director Mrinal Chatterjee at the time of the launch: “DTH operators have been capturing the market bypassing us. Other MSOs have also making it hard for local cable operators to function. Our business has suffered after digitisation and therefore to secure our future we are launching our digital services.”

Bengal Broadband will come head-to-head in competition with well-established national and regional MSOs such as Siti Networks, GTPL, Manthan and Hathway.

Chatterjee however believes there is opportunity for more players as Phase IV digitization has been progressing very slowly and a huge number of set top boxes are needed to move it forward. And the deadline of 31 March 2017 does not perturb the new MSO at all. Said he: “Within March, we will capture a sizable market share.”

The MSO will be targeting Phase I, II, III and IV areas of the state and will offer both analogue and digital services including HD channels. The plan is to also migrate to broadband delivery in the not too distant future.
Bengal Broadband has been signing on both subscribers and other local cable TV operators as its partners.

December 27, 2016
Bengal Broadband to offer cable TV & broadband services in W Bengal

MUMBAI: Here’s another cable TV consortium looking to provide digital cable TV and broadband services to eastern state of Kolkata. Under the umbrella of Bengal Broadband & Cable TV Services, the MSO is focusing its operations on Kolkata, North and South 24 Parganas, Burdwan, Birbhum, Nadia and Murshidabad markets.

Promoted by four cable operators as its directors Surendra Kumar Sancheti, Mrinal Chatterjee, Avit Sinha and Sagar Sengupta, the company launched its services in Kolkata last week. Said managing director Mrinal Chatterjee at the time of the launch: “DTH operators have been capturing the market bypassing us. Other MSOs have also making it hard for local cable operators to function. Our business has suffered after digitisation and therefore to secure our future we are launching our digital services.”

Bengal Broadband will come head-to-head in competition with well-established national and regional MSOs such as Siti Networks, GTPL, Manthan and Hathway.

Chatterjee however believes there is opportunity for more players as Phase IV digitization has been progressing very slowly and a huge number of set top boxes are needed to move it forward. And the deadline of 31 March 2017 does not perturb the new MSO at all. Said he: “Within March, we will capture a sizable market share.”

The MSO will be targeting Phase I, II, III and IV areas of the state and will offer both analogue and digital services including HD channels. The plan is to also migrate to broadband delivery in the not too distant future.
Bengal Broadband has been signing on both subscribers and other local cable TV operators as its partners.

December 27, 2016
Hathway Cable files GTPL details with BSE

BENGALURU: Among the largest cable television operators in India, the listed Hathway Cable and Datacom Limited (Hathway) has a number of subsidiaries and partnership in the television signal carriage and broadband ecosystems in the company. The company has various levels of investments in these associations. One of its most profitable associations, and probably one of the largest contributors (besides Hathway itself) to Hathway’s consolidated numbers across major financial and operational parameters is GTPL Hathway Limited (GTPL), a material subsidiary, in which Hathway owns a 50 per cent stake.

Besides Hathway, another major shareholder of GTPL is its co-founder, Aniruddhasinhji Jadeja who directly owns 14.6 per cent and controls another 29.1 per cent through another shareholding entity Gujarat Digi Com Private Limited which is majority owned by him. The other co-founder Kanaksinh Rana owns 5.2 per cent shares of GTPL.

As reported by us earlier, the Hathway board has given approval to the initial public offering (IPO) proposal which seeks to raise funds for GTPL through a fresh issue of equity shares while giving an option to existing GTPL shareholders to sell their holdings. Hathway holds around 90 lakh shares in GTPL, according to a filing with the Bombay Stock Exchange, over the weekend.

Operational Matrices of GTPL

According to the presentation, GTPL is the largest MSO in Gujarat with 67 per cent market share and the second largest MSO in Kolkata and Howrah with a 24 per cent market share (in 2015, based on cable television subscribers).

As of 30 September 2016 (Q2-17),GTPL had active relationships with 13,775 local cable operators (LCOs). It says it has added 4,004 and 1,286 LCOs on a net basis in FY-16 and FY-15 respectively, and another 2,507 LCOs on a net basis as of 30 September 2016

As of Q2-17,GTPL is present in 169 towns across ten states of the country. The company claims a cable subscriber universe of 74.3 lakhas of 31 August 2016 of which 54.1 lakh (72.8 per cent) were active subscribers. GTPL claims to have seeded 61.9 lakh set top boxes or 83.3 per cent of its cable universe. Primary cable ARPU as on Q1-17 is Rs 220.34 and has been increasing steadily as per Hathway’s investor presentation submitted to the bourses.Currently in Gujarat, GTPL offers various monthly pay channel packages, including HD packages, to its digital cable television subscribers ranging from Rs 250 to Rs 470, including all applicable taxes.

It has 2.2 lakh broadband internet (broadband) subscribers and a broadband ARPU of Rs 463.87. Data consumption has been increasing steadily. Broadband ARPU has been increasing steadily over the past few years as per the Hathway’s investor presentation submitted to the bourses.

GTPL owns and operates 28 channels offering localised content across a wide range of genres including religious, culture, film, music and education.

Financial Performance

Please refer to Figure A below for GTPL’s revenue break-up over a five a period starting FY-12 (year ended 31 March 2012) until FY-16 (year ended 31 March 2016) as well as for the quarter ended 30 June 2016 (Q1-17). Further, Figure B below shows revenue breakup in Rs crore for the five year period starting FY-12 until FY-16.

In absolute rupees, all revenue or income heads have been increasing. In terms of per centage of operational revenue, this is not always the case.

As is obvious, contribution from activation revenue to operational revenue has been increasing with the implantation of DAS from FY-12 to FY-16 in terms of percentage of revenue, as well as in absolute rupees. However, contribution from activation revenue has declined in Q1-17. Broadband internet is another service that MSO’s have been offering for increase of overall ARPU, that has shown an upward trend, both in absolute rupees as well as in terms of percentage of operational revenues.

Though contribution from Placement/Carriage income to operational revenues has been declining in terms of per centage of revenue, it has been increasing steadily in absolute rupees.

The company has been a profitable one – both in terms of operating profits as well as in terms of profit after tax and has been earning money for its shareholders as is evident from its EBIDTA as well as profit after tax (PAT) numbers for the past five years and Q1-17 as well. Margins have been improving as is evident from Figure C below.

Notes: (1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
(a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
(b) 10,000 lakh = 100 crore = 1 arab = 1 billion.
(2) While the author has referred to an investor presentation submitted by Hathway to the Stock Exchanges, the surmise and opinions expressed in this report is his own. The author has no material stake in Hathway or GTPL or other associated or subsidy entities of Hathway or GTPL.

December 26, 2016
Hathway Cable files GTPL details with BSE

BENGALURU: Among the largest cable television operators in India, the listed Hathway Cable and Datacom Limited (Hathway) has a number of subsidiaries and partnership in the television signal carriage and broadband ecosystems in the company. The company has various levels of investments in these associations. One of its most profitable associations, and probably one of the largest contributors (besides Hathway itself) to Hathway’s consolidated numbers across major financial and operational parameters is GTPL Hathway Limited (GTPL), a material subsidiary, in which Hathway owns a 50 per cent stake.

Besides Hathway, another major shareholder of GTPL is its co-founder, Aniruddhasinhji Jadeja who directly owns 14.6 per cent and controls another 29.1 per cent through another shareholding entity Gujarat Digi Com Private Limited which is majority owned by him. The other co-founder Kanaksinh Rana owns 5.2 per cent shares of GTPL.

As reported by us earlier, the Hathway board has given approval to the initial public offering (IPO) proposal which seeks to raise funds for GTPL through a fresh issue of equity shares while giving an option to existing GTPL shareholders to sell their holdings. Hathway holds around 90 lakh shares in GTPL, according to a filing with the Bombay Stock Exchange, over the weekend.

Operational Matrices of GTPL

According to the presentation, GTPL is the largest MSO in Gujarat with 67 per cent market share and the second largest MSO in Kolkata and Howrah with a 24 per cent market share (in 2015, based on cable television subscribers).

As of 30 September 2016 (Q2-17),GTPL had active relationships with 13,775 local cable operators (LCOs). It says it has added 4,004 and 1,286 LCOs on a net basis in FY-16 and FY-15 respectively, and another 2,507 LCOs on a net basis as of 30 September 2016

As of Q2-17,GTPL is present in 169 towns across ten states of the country. The company claims a cable subscriber universe of 74.3 lakhas of 31 August 2016 of which 54.1 lakh (72.8 per cent) were active subscribers. GTPL claims to have seeded 61.9 lakh set top boxes or 83.3 per cent of its cable universe. Primary cable ARPU as on Q1-17 is Rs 220.34 and has been increasing steadily as per Hathway’s investor presentation submitted to the bourses.Currently in Gujarat, GTPL offers various monthly pay channel packages, including HD packages, to its digital cable television subscribers ranging from Rs 250 to Rs 470, including all applicable taxes.

It has 2.2 lakh broadband internet (broadband) subscribers and a broadband ARPU of Rs 463.87. Data consumption has been increasing steadily. Broadband ARPU has been increasing steadily over the past few years as per the Hathway’s investor presentation submitted to the bourses.

GTPL owns and operates 28 channels offering localised content across a wide range of genres including religious, culture, film, music and education.

Financial Performance

Please refer to Figure A below for GTPL’s revenue break-up over a five a period starting FY-12 (year ended 31 March 2012) until FY-16 (year ended 31 March 2016) as well as for the quarter ended 30 June 2016 (Q1-17). Further, Figure B below shows revenue breakup in Rs crore for the five year period starting FY-12 until FY-16.

In absolute rupees, all revenue or income heads have been increasing. In terms of per centage of operational revenue, this is not always the case.

As is obvious, contribution from activation revenue to operational revenue has been increasing with the implantation of DAS from FY-12 to FY-16 in terms of percentage of revenue, as well as in absolute rupees. However, contribution from activation revenue has declined in Q1-17. Broadband internet is another service that MSO’s have been offering for increase of overall ARPU, that has shown an upward trend, both in absolute rupees as well as in terms of percentage of operational revenues.

Though contribution from Placement/Carriage income to operational revenues has been declining in terms of per centage of revenue, it has been increasing steadily in absolute rupees.

The company has been a profitable one – both in terms of operating profits as well as in terms of profit after tax and has been earning money for its shareholders as is evident from its EBIDTA as well as profit after tax (PAT) numbers for the past five years and Q1-17 as well. Margins have been improving as is evident from Figure C below.

Notes: (1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
(a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
(b) 10,000 lakh = 100 crore = 1 arab = 1 billion.
(2) While the author has referred to an investor presentation submitted by Hathway to the Stock Exchanges, the surmise and opinions expressed in this report is his own. The author has no material stake in Hathway or GTPL or other associated or subsidy entities of Hathway or GTPL.

December 26, 2016
After Pillai, Akhil Rampal quits Hathway

MUMBAI: A sequence of significant movements are taking place at Hathway Cable & Datacom Ltd. Akhil Rampal, general manager- marketing and communications, has resigned.

Rampal was leading marketing & communications for Hathway including its HD business on a pan-India level. He also led the launch of four new Hathway channels in the music and movies genre- DJAY, Home Theatre, Lamhe and Marathi Talkies including conceptualisation, brand architecture, channel identity, design and packaging and also further, led the brand revamp of the entire channel bouquet of Hathway.

Rampal joined Hathway in February 2015. Prior to joining Hathway, he worked with ESPN and then with Star India as senior manager- sports marketing for seven years apart from his earlier marketing roles in multiple sectors.

On 25 November, Hathway accepted the resignation of MD and CEO Jagdish Kumar Pillai. Pillai had taken over as the MD & CEO of Hathway in December 2012, and led the company’s growth through the digitisation phase establishing its position as one of the leading digital cable TV and broadband service providers in the country. Hathway had announced Rajan Gupta as its new managing director.

Earlier, Hathway elevated Rajaraman. S as the COO of the video business. Rajaraman was the senior VP of business operations, and played an important role in streamlining the business operations of the company including the Phase-III expansion.

December 23, 2016
After Pillai, Akhil Rampal quits Hathway

MUMBAI: A sequence of significant movements are taking place at Hathway Cable & Datacom Ltd. Akhil Rampal, general manager- marketing and communications, has resigned.

Rampal was leading marketing & communications for Hathway including its HD business on a pan-India level. He also led the launch of four new Hathway channels in the music and movies genre- DJAY, Home Theatre, Lamhe and Marathi Talkies including conceptualisation, brand architecture, channel identity, design and packaging and also further, led the brand revamp of the entire channel bouquet of Hathway.

Rampal joined Hathway in February 2015. Prior to joining Hathway, he worked with ESPN and then with Star India as senior manager- sports marketing for seven years apart from his earlier marketing roles in multiple sectors.

On 25 November, Hathway accepted the resignation of MD and CEO Jagdish Kumar Pillai. Pillai had taken over as the MD & CEO of Hathway in December 2012, and led the company’s growth through the digitisation phase establishing its position as one of the leading digital cable TV and broadband service providers in the country. Hathway had announced Rajan Gupta as its new managing director.

Earlier, Hathway elevated Rajaraman. S as the COO of the video business. Rajaraman was the senior VP of business operations, and played an important role in streamlining the business operations of the company including the Phase-III expansion.

December 23, 2016