Hathway has no fund-raising plan via equity

MUMBAI: Hathway Cable & Datacom has no fund-raising programme via equity even as it plans to push for more than double its digitisation growth in FY’12.

India’s leading multi-system operator (MSO) aims to add 900,000 digital set-top boxes (STBs) for the fiscal ended 31 March 2012, up from 423,000 that it seeded in FY’11. 
Hathway will up its target to 1.5 million digital STBs this fiscal if the government comes out with a mandate for digitisation.
“We are not looking at raising capital from equity. We have cash and, if need be, can raise debt to fund our digitisation in FY’12. We will more than double our digitisation growth in FY’12. For the first quarter of FY’11, we did not have a supply of STBs,” said Hathway Cable & Datacom managing director and chief executive officer K Jayaraman.

Hathway has Rs 2.04 billion of cash on the balance sheet and a debt of Rs 3.5 billion.

“When we fund the STB acquisition, the typical percentage that we pay upfront is about 30 per cent or so and the suppliers give us credit of over a period of three years. It is not that we have to pay upfront. So we are fully funded at this point of time,” said Jayaraman.

As earlier reported in, Hathway Cable & Datacom has an investment plan of Rs 2.20 billion for the fiscal. It will be investing Rs 1.50 billion for the STBs while broadband will take away Rs 400 million in FY’12. The balance Rs 300 million will be towards fibre and normal operational expenses.

For the fiscal ended 31 March 2011, Hathway posted a consolidated revenue of Rs 8.83 billion and an Ebitda of Rs 1.62 billion. While revenue from cable TV stood at Rs 7.55 billion, broadband stayed flat at Rs 1.03 billion.

Hathway has a digital base of 1.4 million, according to data provided till 31 March 2011.

Latest Reads
Livestreaming App SWOO sees momentum in India; Launches Trivia Format in India

SWOO, a leading global livestreaming platform established in Middle East, today announced the launch of its SWOO TRIVIA SHOW – a celebrity hosted live video streaming game show for Indians. SWOO is a user friendly, engaging and feature-rich live broadcasting app available across Android/ iOS/ Web...

Technology Software Applications
TiVo exits STB business

MUMBAI: TiVo is exiting the manufacturing, sales and distribution of set-top boxes to a yet-undisclosed third party, the company has said.

Technology Hardware Set-top Boxes
IET India IoT Panel joins hands with exhibitions india group for the 3rd edition of IoT india congress

IoT India Congress is India’s Platform of Platforms for the Internet of Things conceptualized by IET India IoT Panel, a think tank constituted by the Institution of Engineering and Technology (IET) India. The 3rd edition of IoT India Congress will be hosted in collaboration with India’s leading...

Technology Software Firmware
Tata Elxsi's Automation suite adopted by pan-European Media and Telecommunications Company

Tata Elxsi, a global design and technology services company, announced the licensing of its integrated test automation and monitoring suite ‘FalconEye’ to a pan-European media and telecommunications company for OTT automation and improving streaming performance.

Technology Software Firmware
Verimatrix recognized for contributions to latin american Pay-TV market with PRODU award win at NAB Show

LAS VEGAS: Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has received the PRODU Award for Best Pay-TV Technology Contribution on behalf of its MultiRights™ OTT solution. MultiRights helps service providers effectively navigate the modern OTT...

Technology Software Firmware
Amagi debuts machine-learning powered content-preparation suite

Amagi, a cloud-based technology provider for media processing, has launched Tornado, a machine learning-based content preparation service that enables TV networks and content owners to scale their operations and accelerate broadcast workflows.

Technology Hardware Components
Sharp and TiVo extend interactive program guide deal to power content Discovery across entertainment devices

MUMBAI: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Sharp Corporation will further utilize TiVo’s G-Guide HTML across Sharp 4K smart TVs and Ultra HD Blu-ray recorders in Japan, TiVo’s G-Guide xD app and remote schedule...

Technology Hardware Components
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories