You may also buy this stock based on below rational
Siti Networks
Limited (SNL)
is a part of Essel group, which is one of India’s leading business houses with
a diverse portfolio of assets in media, packaging, entertainment,
technology-enabled services, infrastructure development and education. It has
grown to be India’s largest Multi-System Operator (MSO) and a leading wired
broadband service provider. SNL has been providing services in analogue and
digital mode, armed with technical capability to provide features like Video on
Demand, Pay per View, Over-The-Top content, Electronic Programming Guide and
Gaming through a Set Top Box. All
products are marketed under SITI brand
name.
The
cable operations of SITI Networks Limited were launched in June 1994. It was
then a 100% subsidiary of Zee Telefilms Limited (ZTL). On March 31, 2006, as
per the Scheme of Arrangement approved by the High Court in Mumbai, Zee
Telefilms Limited (ZTL) was renamed as Zee Entertainment Enterprises Limited
(ZEEL) and was demerged into 4 companies, WWIL was one of them. All the TV distribution
business of ZTL, which was under SITI Networks Limited was transferred to WWIL.
With 15 digital head ends and a network of more than 33,000 km of optical fibre and coaxial cable, it provides its cable services in India to ~580 locations and adjoining areas, reaching out to over 11.55 million digital viewers.
Still, the company has maintained a good amount of Turnover and I am assuming this will increase further due to an increase in it's broadband subscribers. The company's present turnover is Rs. 1345 for FY 2022-23 with an operating profit of Rs. 119 Crore.
The main -ve point is Company is under CIRP - Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, so, that I have taken a calculative risk in this stock and Invested some money.
The IRP took control and management of the Company on 16 August 2023. Currently, the powers of the Board of Directors of the Company stand suspended and are being exercised by Mr. Rohit Mehra as the IRP of the Company in accordance with the provisions of the Code and related regulations.
Providing Broadband services in below states.
