Cable TV

Hathway Cable becomes India's first $1bn enterprise valuation MSO

MUMBAI: New year celebrations don’t seem to have ended at the Raheja group company and multi system operator Hathway Cable & Datacom. The MSO has become the first company from the cable TV industry to have crossed the $1 billion mark in terms of enterprise valuation.

At the time of filing the report, as on 6 January 2015, (1 USD= 63.4286 INR mid- market rate), the total valuation of the company including market cap (Rs 5581 crore) and debt (Rs 806 crore) and excluding cash and cash equivalents  was close to $ 1 billion (Rs 6387 crore).  

Hathway Cable & Datacom MD and CEO Jagdish Kumar Pillai is over the moon with this feat.  Says he, “This achievement has got more to do with the potential of the Indian cable TV market, and not just with what Hathway does.”

 For Pillai, digitisation has opened up the potential of unlocking the value that Indian cable TV industry holds. “With broadband and cable TV getting more transparent, the market is viewing this as a great industry to invest in the next five years, and that’s reflected in the balance sheet. It is a promise of a good potential,” he opines.

With the industry getting more organised, Pillai expects more foreign investors to pump in funds into cable TV. “And that is what Hathway is doing. We are corporatising the whole industry and bringing the professionals to run our business. We have invested heavily in computer software and automation. It has become more like a telecom company. We expect a lot of investment interest in the industry now,” he adds.

Pillai feels that it is Hathway's broadband service which differentiates the company from the other players. “Our broadband service is strong and that has, along with our strong CATV, helped us reach at this level,” he says.  

The plan for Hathway from here is clear: monetisation of the investments made in the phase I and II markets. “We have deployed 7 million set top boxes in the first two phases of DAS and we would like to monetise that. Also as we get closer to phase III and IV deadlines, we will look at opportunities which will enable us to expand further,” he informs.

As for broadband, Hathway which has already upgraded its platform to DOCSIS 3.0, is looking at expanding to all the cities in which it has a presence.  “The investment will be two-fold, both in broadband and in cable TV,” concludes Pillai.

Coming on the back of the announcement that the Videocon group has signed an agreement with US-based Silver Eagle Acquisition Corp to sell 33.5 per cent of its shares in its DTH venture Videocon d2h for $300 million, the Hathway landmark shows that confidence amongst investors for TV distribution initiatives seems to be reviving. And that's good news for the entire TV ecosystem which has been struggling to digitise its TV viewer base.

Latest Reads
NXTDigital posts strong Q2 results

NEW DELHI: NXTDigital has posted a year-on-year EBITDA growth of 15.8 per cent at Rs 50.7 crores for the second quarter, an improvement of 2.7 per cent over the previous quarter.

Cable TV Multi System Operators
Zeel provisions for outstanding Siti Networks dues

The outstandings of Siti Networks and Dish TV has been one of the major concerns for Zee Entertainment Enterprises Limited (Zeel). While the DTH platform Dish TV is making payments on the line of the revised plan for recovering dues, Siti Networks has failed to play old subscription overdues.

Cable TV Multi System Operators
Airtel has perfected the LCO model for home broadband, says Gopal Vittal

Bharti Airtel (Airtel) is going head-to-head with archrival Jio in the home broadband segment by putting pedal to the metal on its expansion plans. While the company has seen record subscriber addition in September, it will keep focusing on LCO partnership model.

Cable TV Local Cable Operators
NXTDigital launches new consumer connect program for Durga Puja

As the country gears up to welcome Goddess Durga, NXTDigital, the media arm of the Hinduja Group, has come up with a new consumer connect program – ‘ NXTDigital DURGOTSAV’.

Cable TV Multi System Operators
MCOF’s Prabhu sounds the alarm for cable TV fraternity

Although linear television remains the primary mode of viewing for most Indian households, cableTV  operators still face numerous challenges – what the rapid uptake of OTT services and the inflexible pricing regulations set by the regulator.

Cable TV Local Cable Operators
Hathway profits up on lower revenue in second quarter

The Mukesh Dhirubhai Ambani controlled MSO and broadband internet services provider Hathway Cable and Datacom Limited (Hathway) reported consolidated profit after tax (PAT) at Rs 52.33 crore for the quarter ended 30 September 2020.

Cable TV Multi System Operators
SPNI goes head to head with Indore-based Digiana Projects on “piracy”

The battles in cable TV land continue, what with life gradually coming to the new normal.  Sony Picture Networks India (SPNI) ,for instance, says it is cracking the whip on Indore-based MSO Digiana Projects for allegedly availing signals through clandestine means.

Cable TV Multi System Operators
Vynsley Fernandes becomes CEO NXTDigital

Vynsley Fernandes has been known as the CEO of Hinduja group-owned Indusind Media & Communications which runs cable TV MSO InCable TV, a position he took up in August 2018. As of last month, his role and designations have changed: he has been redesignated as CEO of the theheadend in the sky (...

Cable TV Multi System Operators
Ashok Mansukhani bids adieu to NXTDigital

KOLKATA: Ashok Mansukhani is departing from NXTDigital putting an end to a 24 year long association with the Hinduja group.The industry veteran will retire on 30 September.  According to a BSE filing, his term as managing director and key managerial personnel was extended on 29 April 2020  until...

Cable TV Multi System Operators

Sign up for our Newsletter

subscribe for latest stories

* indicates required