Tag: Hathway Cable and Datacom Limited

Reliance Jio acquires another 12% of Den Networks

BENGALURU: Under disclosures of SEBI Regulations for Substantial Acquisitions of Shares and Takeovers (SAST), three Reliance Jio companies have informed the stock exchanges that they have increased their holdings in Indian multi system operator (MSO) Den Networks from 66.57 percent to 78.62 percent or increased their holdings by 12.05 percent which translates to roughly 5.75 crore shares. The three Jio companies are Jio Futuristic Digital Holdings Pvt Ltd, Jio Digital Distribution Holdings Pvt Ltd and Jio Television Distribution Holdings Pvt Ltd.

As mentioned by us in October 2018 (http://www.indiantelevision.com/iworld/telecom/ril-close-to-buying-majority-stakes-in-den-hathway-181016) , Reliance Industries Limited (RIL) had announced the following strategic investments through a preferential issue under SEBI regulations and a secondary purchase to acquire a 66 per cent stake in Den Networks Ltd. Reliance Jio Infocomm Limited (Jio) is a mobile network operator owned by Reliance Industries Limited. Besides Den Networks, RIL had also announced strategic investments in the Rajan Raheja-controlled Hathway Cable and Datacom Ltd at that time RIL said that these strategic investments are in furtherance of Reliance’s mission of connecting everyone and everything, everywhere – always at the highest quality and the most affordable price and transforming India’s digital landscape.

March 9, 2019
Den reports lower numbers for third quarter

BENGALURU: Indian cable distribution network and broadband internet services (broadband) provider Den Networks Ltd reported 6 per cent drop in consolidated operating revenue numbers for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter (y-o-y, Q3 2018).

Den Network’s operating profit (EBITDA) declined 39 per cent y-o-y during the period under review to Rs 48.10 crore (15.6 percent of operating revenue) from Rs 78.83 crore (24 per cent of operating revenue) in Q3 2018.

Den reported a net loss of Rs 31.21 crore in Q3 2019 as compared to a profit after tax of Rs 1.73 crore in Q3 2018.The company reported total comprehensive loss (TCL) of Rs 31.06 crore as compared to total comprehensive income of Rs 1.31 crore in Q3 2018.

Segment numbers

Den has two segments – cable distribution networks (Cable) and broadband. Both segments reported lower y-o-y revenues and operating loss for the quarter under review.

Cable segment revenue reduced 6.1 per cent y-o-y in Q3 2019 to Rs 291.59 crore from Rs 310.50 crore in Q3 2018. Den reported that the segment had an operating loss of Rs 8.95 crore as compared to an operating profit of Rs 25.20 crore in Q3 2018.

Den Networks reported 5.1 per cent y-o-y decline in operating revenue for its broadband segment in Q3 2019 at Rs 16.82 crore as compared to Rs 17.72 crore in Q2 2018. The segment’s operating loss reduced to Rs 6.60 crore in Q3 2019 from an operating loss of Rs 7.29 crore.

Let us look at the numbers reported by Den Networks for Q1 2019

Den Networks consolidated revenue from operations in Q3 2019 was Rs 308.41 crore, 6 per cent lower than the Rs 328.22 crore in Q3 2018. Consolidated total revenue including consolidated other income declined 6.4 per cent y-o-y in Q3 2019 to Rs 313.32 crore from Rs 334.92 crore in Q3 2018.

Consolidated total expenditure for the quarter under review increased 3.9 per cent y-o-y in Q3 2019 to Rs 337.84 crore (109.5 percent of operating revenue) from Rs 325.20 crore (99.1 per cent of operating revenue) in the corresponding quarter of the previous year.

Consolidated content cost increased 10.5 per cent y-o-y in Q3 2019 to Rs 148.65 crore (48.2 per cent of operating revenue) as compared to Rs 134.56 crore (41 per cent of operating revenue) in Q3 2018. Consolidated placement fees reduced 9.3 per cent y-o-y in Q3 2019 to Rs 9.99 crore (3.2 per cent of operating revenue) from Rs 12.48 crore (3.4 per cent of operating revenue) in Q3 2018.

Den Networks consolidated employee benefits expense during the period under review declined 7.5 per cent y-o-y to Rs 23.80 crore (7.7 per cent of operating revenue) from Rs 25.73 crore (7.8 per cent of operating revenue) in Q3 2018. Consolidated other expenses in Q3 2019 increased 1.6 per cent y-o-y to Rs 77.87 crore (25.2 per cent of operating revenue) in Q3 2019 from Rs 76.62 crore (23.3 per cent of operating revenue) in the corresponding quarter of the previous year.

Company speak

Den CEO SN Sharma said, “Cable subscription ARPU is consistent with respect to the previous quarter which stood at Rs 96 per box (including tax).

"TRAI tariff order implementation, a potential gamechanger in the cable industry, is underway wherein we have taken host of initiatives and strengthened our internal processes including IT systems. In order to migrate to the new tariff order, consumer has various options to exercise his choice of channels through our consumer / LCO mobile applications and web portal.

"Extensive LCO/distributor awareness programme are under progress wherein the partners are explained in clear terms the benefits they would get in the overall value chain. Prepaid system for cable subscription partners, the most preferred billingoption under the new tariff order, has been successfully rolled out during the quarter in select markets.”

Strategic investments in Den by Reliance Industries

On 17 October 2018, the Mukesh Ambani led Reliance Industries Ltd reported to the bourses that it has decided to make strategic investments thought a primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 percent stake in Den. Reliance also said that it would make a primary investment of Rs 2,940 crore through a preferential issue under SEBI regulations for a 51.3 per cent stake in Hathway Cable and Datacom Ltd (Hathway) of the Rajan Raheja group.

January 16, 2019
Den reports improved numbers for Q2 over Q1

BENGALURU: The Sameer Manchanda-led Indian cable distribution network and broadband internet services (broadband) provider Den Networks Ltd reported 5.3 percent drop in consolidated operating revenue numbers for the quarter ended 30 September 2018 (Q2 2019, quarter or period under review) as compared to the corresponding year ago quarter (y-o-y, Q2 2018). Though revenue based on a quarter on quarter (q-o-q) basis and some other numbers were lower, the company’s operating profit or EBITDA in Q2 2019 was better than Q1 2019. The company said in Q1 2019 that it had tried to cut down costs, and it has managed to do that, but its consolidated content costs during the quarter under review increased by almost Rs 16 crore y-o-y, at but the same time have declined by almost Rs 2 crore q-o-q.
Den Network’s operating profit (EBITDA) declined 37.9 percent y-o-y during the period under review to Rs 50.63 crore (16.1 percent of operating revenue) from Rs 81.55 crore (26 percent of operating revenue) but increased 9.9 percent q-o-q from Rs 57.84 crore (18 percent of operating revenue) as mentioned above.

The company’s losses – after taxes (net loss) as well as total comprehensive loss (TCL) have increased y-o-y as well as q-o-q in the period under review. The company reported a net loss of Rs 28.54 crore during Q2 2019 and a loss of Rs 27.98 crore for Q1 2019 as compared to a net profit (PAT) of Rs 1.11 crore in Q2 2018. Den reported TCL of Rs 28.34 crore for Q2 2019, TCL of Rs 27.75 crore in Q1 2019 as compared to total comprehensive income of Rs 1.31 crore in Q2 2018.

Segment numbers

Den has two segments – cable distribution networks (Cable) and broadband. Both segments reported lower y-o-y revenues, but in the case of broadband, Den reported a slight q-o-q increase in revenue for Q2 2019.

Cable segment revenue reduced 4.6 percent y-o-y in Q2 2019 to Rs 293.86 crore from Rs 307.99 crore in Q2 2018 and reduced 1.6 percent q-o-q from Rs 298.59 crore in Q1 2019. Den reported that the segment had an operating loss of Rs 5.82 crore as compared to an operating profit of Rs 27.75 crore in Q2 2018 but the loss in the quarter under review was lower than the operating loss Rs 8.26 crore in Q1 2019.

Den Networks reported 16.6 percent y-o-y decline in operating revenue for its broadband segment in Q2 2019 at Rs 16.51 crore as compared to Rs 19.80 crore in Q2 2018 but 5.9 percent more than the operating revenue of Rs 15.59 crore in Q1 2019. The segment’s operating loss reduced slightly to Rs 6.16 crore in Q2 2019 from an operating loss of Rs 8 crore in Q1 2019 and an operating loss of Rs 8.93 crore in Q2 2018.

Let us look at the numbers reported by Den Networks for Q1 2019

Den Networks' consolidated revenue from operations in Q2 2019 was Rs 310.37 crore, Rs 314.18 crore in Q1 2019 and Rs 327.79 crore in Q2 2018. Consolidated total revenue including consolidated other income declined 5.9 percent y-o-y and 2.5 percent q-o-q in Q2 2019 at Rs 315.05 crore from Rs 334.90 crore in Q2 2018 and from Rs 322.98 crore in Q1 2019.

Consolidated total expenditure for the quarter under review increased 11.9 percent y-o-y in Q2 2019 to Rs 336.78 crore (107.3 percent of operating revenue) from Rs 326.12 crore (103.8 percent of operating revenue) in the corresponding quarter of the previous year but declined 1.3 percent q-o-q from Rs 347.07 crore (110.59 percent of operating revenue).

As mentioned above, the company has seen a y-o-y rise in content cost in actual value as well as in terms of percentage of operating revenue. Consolidated content cost increased 11.9 percent y-o-y in Q2 2019 to Rs 148.23 crore (47.2 percent of operating revenue) as compared to Rs 132.47 crore (42.2 percent of operating revenue) in Q2 2018 but declined 1.3 percent q-o-q from Rs 150.12 crore (47.8 percent of operating revenue). Consolidated placement fees increased 3 percent y-o-y in Q2 2019 to Rs 11.02 crore (3.5 percent of operating revenue) from Rs 10.70 crore (3.4 percent of operating revenue) and increased 9.7 percent q-o-q from Rs 10.05 crore (3.2 percent of operating revenue).

Den Networks' consolidated employee benefits expense during the period under review declined 13.7 percent y-o-y to Rs 23.64 crore (7.5 percent of operating revenue) from Rs 27.38 crore (8.7 percent of operating revenue) in Q2 2018 but increased 0.8 percent q-o-q from Rs 23.45 crore (7.5 percent of operating revenue). Consolidated other expenses in Q2 2019 increased 1.3 percent y-o-y to Rs 76.65 crore (24.4 percent of operating revenue) in Q1 2019 from Rs 75.69 crore (24.1 percent of operating revenue) in the corresponding quarter of the previous year but reduced 8.9 percent q-o-q from Rs 84.16 crore (26.8 percent of operating revenue).

Strategic investments in Den by Reliance Industries Ltd

On 17 October 2018, the Mukesh Ambani-led Reliance Industries reported to the bourses that it has decided to make strategic investments thought a primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 percent stake in Den. Reliance also said that it would make a primary investment of Rs 2,940 crore through a preferential issue under SEBI regulations for a 51.3 percent stake in Hathway Cable and Datacom Ltd (Hathway) of the Rajan Raheja group.

November 15, 2018
Restructuring brings Hathway to black in first quarter

BENGALURU: Restructuring at Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) has brought for it a positive bottomline. The pared company reported a profit of Rs 27.16 million (including an exceptional item –gain from the sale of shares of Rs 17.13 million) or 21 per cent of total income for the quarter ended 30 June 2017 (Q1-18, current quarter). Even if one were to neglect the exceptional income during the quarter, profit of Rs 101.3 million works out to about eight per cent of total income. The numbers above basically represent the numbers that Hathway has reported from its broadband business.

The Hathway group structure can be divided into three – Broadband business, CATV business which includes joint ventures, associates and subsidiaries and GTPL Hathway in which it has 37 per cent shareholding. The broadband business is managed by the parent company while the CATV business is managed by wholly owned subsidiary Hathway Digital Private Limited (HDPL).

Hathway has reported higher y-o-y average revenue per broadband user (ARPU) at Rs 730 as compared to Rs 724 in Q1-17, but lower than the Rs 740 reported for the immediate trailing quarter (Q4-17). The company says that it has added 30,000 broadband subscribers in Q1-17, bringing its broadband subscriber base to 0.66 million.

For its CATV business, the company says that it has seeded about 0.25 million set top boxes (STB) in Q1-18, bringing its digital CATV subscriber base to 7.2 million, or approximately 96 per cent of its overall subscriber base. It says that it has seeded 1.6 million, 2.3 million and 3.3 million in DAS phases I, II and III & IV respectively. ARPUs’ in Q1-18 were Rs 105, Rs 95 and Rs 55 for DAS phases I, II and III, respectively.

Broadband business

Hathway has reported standalone total income of Rs 1,295.7 million for Q1-18 (from its broadband business). Total expenditure in Q1-18 was Rs 1,195.4 million or 92.3 per cent of total income. Employee benefits expense for the quarter was Rs 89 million (6.9 per cent of total income), other operating expenses was Rs 307.9 million (23.8 per cent of total income) and other expenses was Rs 401.7 million (31 per cent of total income). EBIDTA for broadband business was Rs 497.1 million (38.4 per cent of total income).

CATV business excluding GTPL Hathway business

For HDPL, Hathway has mentioned total income of Rs 2,365 million for Q1-18 in investor presentation. The breakup of total income is Rs 1,325 million from cable TV subscription, Rs 702 million from placement, Rs 242 million from activation and other operating income of Rs 96 million. Total expenditure in Q1-18 has been reported at Rs 2,093 million (88.5 per cent of DHPL total revenue). Major expense heads include pay channel cost (57.2 percent of HDPL total revenue), employee cost Rs 214 million (9 per cent of HDPL total revenue), other expense Rs 527 million (22.3 per cent of HDPL total revenue). Finance costs for Q1-18 for HDPL was Rs 162 million (6.8 per cent of HDPL total revenue). The company has reported HDPL EBIDTA of Rs 272 million (11.5 per cent of HDPL total revenue).

August 15, 2017
Hathway reports improved performance

BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) reported 18.5 per cent growth in consolidated Total Income (Total Revenue) for the fiscal ended 31 March 2017 (FY-17, current year or fiscal) as compared to FY-16. The company’s consolidated operating profit increased 58.9 percent in fiscal 2017 as compared to fiscal 2017.

Hathway reported consolidated Total Revenue of Rs 13,682.3 million for FY-17 as compared to Rs 11,550.4 million in the previous year. Consolidated Income from Operations increased 18.9 percent in the current year to Rs 13,371.2 million from Rs 11,241.8 million in the previous year.

Consolidated simple EBIDTA including operating and other income increased to Rs 2,210.7 million (16.2 percent of Total Revenue) in the current year as compared to Rs 1,391.1 million (12 percent of Total Revenue) in fiscal 2016.

Hathway’s consolidated net loss for FY-17 reduced to Rs 1,929.4 million from Rs 2,376.8 million in FY-16.

Let us look at the other numbers reported by the company

Consolidated total expenses for the year increased 14.6 percent to Rs 15,636.6 million (114.3 percent of Total Revenue) as compared to Rs 13,646.3 million (121.4 percent of Total Revenue) in FY-16.

Pay channel cost went up by 8.8 percent in FY-17 to Rs 4,716.9 million (34.5 percent of Total Revenue) from Rs 4,335.6 million (38.6 percent of Total Revenue) in the previous year. Employee Benefits Expense increased 8.1 percent to Rs 931.5 million (6.8 percent of Total Revenue) in fiscal 2017 from Rs 862 million (7.7 percent of Total Revenue) in the previous fiscal.

Other operational expense in FY-17 increased 25.9 percent to Rs 2,564.7 million (18.7 percent of Total Revenue) from Rs 2,036.5 million (18.1 percent of Total Revenue) in the previous year. Other expenses increased 11.4 percent to Rs 3,258.5 million (23.8 percent of Total Revenue) in FY-17 from Rs 2,925.2 million (26 percent of Total Revenue) in the previous year.

Finance costs increased 23.3 percent in the current year to Rs 1,107.5 million (8.1 percent of Total Revenue) from Rs 898.4 million (8 percent of Total Revenue) in the previous year.

The company has stated in its financial results: Pursuant to the approval of the internal restructuring by the board of directors and the shareholders and after seeking in-principle prior approvals from the lenders, Hathway transferred its Cable Television business by way of slump sale to its wholly owned subsidiary Hathway Digital Private Limited (earlier known as Hathway Datacom Central Private Limited) (said Subsidiary) with effect from close of business hours as of March 31, 2017 for a total consideration of Rs. 302 crore (Rs 3,020 million). In view of the same, all assets and liabilities including borrowings attributed to the cable television business got vested in the said subsidiary.

May 31, 2017
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
Hathway rebrands in-house channels

MUMBAI: Hathway Cable and Datacom Limited has given a new dimension to some of its key channels through a rebranding move that includes new packaging and graphics of the five new channels launched earlier this year.

Hathway CCC is now ‘CCC’, Hathway Movies & Hathway Entertainment is now H-Flicks 1 and H-Flicks 2, respectively, and Hathway Shoppee is now ‘H-Mart’ while H-Tube retains its identity with a new, trendy feel.

Earlier this year, in April, Hathway launched four channels — DJAY, Lamhe, Home Theatre and Marathi Talkies followed by Divine during the Ganapati festival, thus, strengthening its portfolio of in-house channels. With this rebranding exercise, the platform now has a line-up of movies, music, spiritual and a consumer-centric channel which offers diverse content to its subscribers with the right mix of localisation.

Commenting on the rebranding efforts, Hathway Cable and Datacom video business president Tavinderjit Panesar stated, “Our continuous efforts to streamline and create a robust portfolio of Hathway channels has seen another step forward with the refreshing of our key channels — CCC, Flicks 1, Flicks 2, H-Tube and H-Mart with the right degree of positioning and vibrancy. We firmly believe in making this as a true differentiator in the industry and build a value proposition for our subscribers.”

All these channels will be available on a pan-India basis with Flicks 1 and Flicks 2 offering regional and local content for specific regions.

With digitization and growing consumer demand, the cable segment sees a big opportunity in providing differentiated & value-for-money content. With this rebranding, Hathway now has a unique, potent offering of 10 major in-house channels available for its subscribers unlike some of its competitors.

October 28, 2016
Hathway rebrands in-house channels

MUMBAI: Hathway Cable and Datacom Limited has given a new dimension to some of its key channels through a rebranding move that includes new packaging and graphics of the five new channels launched earlier this year.

Hathway CCC is now ‘CCC’, Hathway Movies & Hathway Entertainment is now H-Flicks 1 and H-Flicks 2, respectively, and Hathway Shoppee is now ‘H-Mart’ while H-Tube retains its identity with a new, trendy feel.

Earlier this year, in April, Hathway launched four channels — DJAY, Lamhe, Home Theatre and Marathi Talkies followed by Divine during the Ganapati festival, thus, strengthening its portfolio of in-house channels. With this rebranding exercise, the platform now has a line-up of movies, music, spiritual and a consumer-centric channel which offers diverse content to its subscribers with the right mix of localisation.

Commenting on the rebranding efforts, Hathway Cable and Datacom video business president Tavinderjit Panesar stated, “Our continuous efforts to streamline and create a robust portfolio of Hathway channels has seen another step forward with the refreshing of our key channels — CCC, Flicks 1, Flicks 2, H-Tube and H-Mart with the right degree of positioning and vibrancy. We firmly believe in making this as a true differentiator in the industry and build a value proposition for our subscribers.”

All these channels will be available on a pan-India basis with Flicks 1 and Flicks 2 offering regional and local content for specific regions.

With digitization and growing consumer demand, the cable segment sees a big opportunity in providing differentiated & value-for-money content. With this rebranding, Hathway now has a unique, potent offering of 10 major in-house channels available for its subscribers unlike some of its competitors.

October 28, 2016
Hathway to take consumers on a spiritual journey with its new channel ‘Divine’

MUMBAI: Hathway Cable and Datacom Limited, is set to offer its subscribers a journey into spirituality with the launch of its new channel ‘Divine’ today, which will be available on a Pan-India basis to all Hathway subscribers on Channel No. 47.

The channel “Divine-Beyond all” will showcase a variety of content featuring LIVE religious festivities and spiritual events. In April this year, the MSO had launched 4 new channels in the movies and music genre- DJAY, Lamhe, Home Theatre and Marathi Talkies and the launch of Divine will add to its strong portfolio of channels. The launch face of Divine will be the upcoming grand “Ganesh Utsav” festival which is one of the biggest religious festivals in India, especially in the state of Maharashtra where the fervour and frenzy goes to a different level. Hathway has launched a multimedia campaign across its platform, print, online and outdoor to create awareness of the new channel.

The entire 11-day Ganapati festivities from 5th-15th September will be covered LIVE and exclusive 24X7 on ‘Divine’ where subscribers will get the opportunity to be a part of the celebrations, devotions and grandeur of top Ganesh pandals across Mumbai & other cities in Maharashtra with some key ones as follows:

Commenting on the launch of Divine, Hathway Cable and Datacom MD and CEO Jagdish Kumar, “With Divine, we have taken another step in our strategic plans to create a robust portfolio of channels providing a satellite-like experience to our subscribers and creating a solid bouquet of channels which adds value to our subscriber base.”

Hathway’s entry into the spiritual space with a dedicated channel will offer varied, localised content to digital cable subscribers which are not available on other satellite channels in a similar genre.

Hathway Cable and Datacom Tavinderjit Singh Panesar video business president added, “Spirituality and devotion is beyond age, culture and religion and with this thought, we have launched ‘Divine’ which aims to celebrate India and its spiritual diversity. We believe this channel can be a great differentiator for us with the line-up of LIVE festivities and content that would be showcased through the year.”

September 1, 2016