Hathway Cable & Datacom Limited (HATHWAY)

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Hathway Cable & Datacom Limited (HATHWAY) · mywealthgrid

About

Hathway Cable & Datacom operates in TV broadcasting, cable distribution, and software production within India's Consumer Discretionary sector. With a market cap of ₹1,876 Cr and quarterly consolidated revenue of ₹536–565 Cr, it operates as a mid-scale cable operator with distinct margin tiers: standalone operations achieve 27–28% OPM while consolidated entities reduce overall margins to 13–15%.

Face value: ₹2

Market cap

₹1,650 Cr

P/E

21.8×

P/B

0.4×

Dividend yield

ROE

1.9%

ROCE

2.4%

Debt / equity

OPM

15%

EPS (TTM)

₹0.4

Book value

₹25.2

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

ROE of 1.86% is exceptionally low despite zero debt (D/E = 0) and stable quarterly profits of ₹11–24 Cr; verify root cause of poor asset productivity
Consolidated operations (₹536–565 Cr quarterly) run at 13–15% OPM vs. standalone 27–28%, indicating material margin drag; verify sustainability and improvement potential
Stock has fallen 25.98% in one year at PE 24.76 despite consistent profitability; verify if market is pricing cord-cutting pressure, OTT competition, or regulatory risks
Minimal institutional ownership (FII 0.37%, DII 0%); verify whether this reflects fundamental skepticism or other constraints

Generated analysis · source review pending

Growth drivers

Consolidated quarterly revenue ₹536–565 Cr; verify cable TV subscriber trends and broadband/datacom growth separately to assess underlying business momentum and revenue drivers
Standalone margin of 27–28% OPM vs. consolidated 13–15%; verify composition of consolidated revenue and whether margin gap reflects fixable cost structure or permanent business-mix constraints
Zero debt (D/E = 0) provides balance-sheet capacity; verify planned capex, M&A, or strategic initiatives to expand broadband/datacom or improve consolidated segment efficiency

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹9.3-1.8%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 113.7×
+High promoter holding of 75% with no pledge

Cons

−Low return on equity of 2.1% (3-yr avg)
−Profit declined 20.1% a year over the last 5 years
−Modest revenue growth of 4.4% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

49/100

Business quality: 47
Growth: 21
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Sun Tv Network LimitedSUNTVSUNTV	₹23,642 Cr	₹23,642 Cr	₹4,502 Cr	₹2,330 Cr	51.1%	₹1,530 Cr	33.2%	16.8%	11.9%	-13
Hathway Cable & Datacom LimitedHATHWAYHATHWAY	₹1,650 Cr	₹1,650 Cr	₹2,184 Cr	₹310 Cr	15%	₹76 Cr	3.8%	2.4%	1.9%	-49
Den Networks LimitedDENDEN	₹1,213 Cr	₹1,213 Cr	₹976 Cr	₹60 Cr	7%	₹148 Cr	17%	5.5%	4.5%	-75
New Delhi Television LimitedNDTVNDTV	₹768 Cr	₹954 Cr	₹523 Cr	₹-271 Cr	-49.3%	₹-330 Cr	-61.2%	-72.7%	-345%	34
Gtpl Hathway LimitedGTPLGTPL	₹623 Cr	₹850 Cr	₹3,831 Cr	₹403 Cr	10.9%	₹8 Cr	0.3%	3.5%	1.4%	-31
Tv Today Network LimitedTVTODAYTVTODAY	₹607 Cr	₹622 Cr	₹820 Cr	₹37 Cr	3.8%	₹17 Cr	1.8%	4.6%	1.6%	76
Zee Media Corporation LimitedZEEMEDIAZEEMEDIA	₹472 Cr	₹482 Cr	₹768 Cr	₹102 Cr	13.9%	₹-1 Cr	0.3%	5.3%	0.9%	69
Dish Tv India LimitedDISHTVDISHTV	₹396 Cr	₹396 Cr	₹1,099 Cr	₹-188 Cr	-0.6%	₹-999 Cr	-69.4%	—	—	-1,724
Aqylon Nexus LimitedAQYLONAQYLON	₹392 Cr	₹392 Cr	₹5 Cr	₹-0 Cr	6.1%	₹-24 Cr	-366.5%	21.4%	—	-31
B.a.g Films And Media LimitedBAGFILMSBAGFILMS	₹89 Cr	₹89 Cr	₹157 Cr	₹20 Cr	11.9%	₹5 Cr	3.4%	5.8%	2.3%	290
Raj Television Network LimitedRAJTVRAJTV	₹56 Cr	₹77 Cr	₹69 Cr	₹3 Cr	5.9%	₹-0 Cr	1.1%	2.7%	0.6%	99
Crystal Business System LtdCRYSTALCRYSTAL	₹19 Cr	₹22 Cr	₹17 Cr	₹2 Cr	4%	₹1 Cr	1.4%	2.8%	0.8%	126

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,137	1,344	1,535	1,558	1,798	1,732	1,793	1,858	1,981	2,040	2,150
	1,016	1,453	1,534	1,602	1,330	1,182	1,318	1,503	1,622	1,682	1,822
	121	-109	1	-44	468	550	475	355	359	357	328
OPM %	10.6%	-8.1%	0.1%	-2.8%	26%	31.8%	26.5%	19.1%	18.1%	17.5%	15.2%
Depreciation	259	—	—	—	371	371	368	357	354	336	309
Interest	90	111	153	221	226	37	0	0	1	1	1
	-191	25	15	-143	239	137	49	92	138	105	94
Profit before tax	-238	-194	-108	-627	110	279	156	90	142	125	112
Tax	-0	-0	-0	-439	4	25	26	25	42	32	30
Tax %	-0.1%	-0.2%	-0.4%	-70.1%	3.7%	9.1%	16.5%	27.7%	29.9%	26%	26.4%
	-238	-193	-108	-188	105	253	130	65	99	93	82
PAT margin %	-20.9%	-14.4%	-7%	-12%	5.9%	14.6%	7.3%	3.5%	5%	4.5%	3.8%
EPS (₹)	—	—	—	—	0.6	1.4	0.7	0.4	0.6	0.5	0.5
EPS adjusted (₹)	-2.9	-2.3	-1.2	-1.1	0.6	1.4	0.7	0.4	0.6	0.5	0.5
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	166	166	166	354	354	354	354	354	354	354	354
Reserves	1,147	727	626	3,285	3,389	3,642	3,771	3,829	3,936	4,028	4,111
Minority interest	0	1	—	—	1	1	2	2	2	2	2
	770	1,065	1,008	1,534	1,956	0	0	5	6	2	0
	838	1,455	1,469	1,250	671	521	493	641	666	735	715
Total equity & liabilities	2,921	3,414	3,269	6,424	6,371	4,519	4,620	4,831	4,963	5,122	5,182
	1,366	1,755	1,812	1,632	1,571	1,602	1,592	1,632	1,540	1,415	1,257
CWIP	157	121	56	104	81	82	57	48	28	20	14
Investments	778	719	644	5	37	1,795	1,905	2,013	2,528	2,752	2,426
	621	819	758	4,683	4,682	1,041	1,065	1,138	868	936	1,485
Total assets	2,921	3,414	3,269	6,424	6,371	4,519	4,620	4,831	4,963	5,122	5,182

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Cable Television Business	1,509.48	-51.72	962.69	506.19	456.5	-11.33
Broadband Business	581.98	10.84

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	-2.8%	24.2%	27.4%	21.9%	17%	16.3%	16.7%	15%
EBIT margin %	-2.8%	3.6%	6%	1.4%	-2.2%	-1.6%	0.2%	0.6%
PAT margin %	-12%	5.9%	14.6%	7.3%	3.5%	5%	4.5%	3.8%
Working capital
Receivable days	28	6	1	11	29	33	45	43
Inventory days	3	4	2	1	1	0	0	0
Payable days	59	—	62	66	81	85	98	92
NWC days	-27	—	-59	-54	-52	-51	-53	-49
Leverage
Current ratio	2.84	1.37	3.13	2.33	3	3.46	3.57	4.01
Debt to EBITDA	—	4.49	0	0	0.02	0.02	0.01	0
Debt to equity	0.42	0.52	0	0	0	0	0	0
Interest coverage	0.1	1.4	6.6	—	309.7	101.2	79.6	113.7
Asset turnover	0.24	0.28	0.38	0.39	0.38	0.4	0.4	0.41
Return ratios
Return on assets %	-2.9%	1.7%	5.6%	2.8%	1.4%	2%	1.8%	1.6%
Return on capital employed %	0.5%	6.9%	6.3%	2.5%	1.4%	2.5%	2.6%	2.4%
Return on equity %	-5.2%	2.8%	6.3%	3.2%	1.6%	2.3%	2.1%	1.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	6.69%	5.66%	4.65%	4.9%	3.06%	1.84%	0.47%	1%	0.85%	0.73%	0.64%	0.37%
DII	0.04%	0.04%	0.05%	0.06%	0.07%	0.08%	0.07%	0.08%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	18.27%	19.3%	20.3%	20.04%	21.87%	23.08%	24.46%	23.92%	24.15%	24.27%	24.36%	24.63%
No. of shareholders	—	—	—	—	—	—	—	—	5,04,916	4,92,281	4,81,803	4,77,869

Promoter holding up 0 percentage points since Sep 2023.

15 deals · 8 Jan 2024 – 9 Dec 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
9 Dec 2025	IRAGE BROKING SERVICES LLP	Bulk	NSE	Sell	1,06,23,155	₹12.56	₹13.34 Cr
9 Dec 2025	IRAGE BROKING SERVICES LLP	Bulk	BSE	Buy	1,06,01,230	₹12.53	₹13.28 Cr
9 Dec 2025	IRAGE BROKING SERVICES LLP	Bulk	NSE	Buy	62,236	₹12.56	₹0.08 Cr
9 Dec 2025	IRAGE BROKING SERVICES LLP	Bulk	BSE	Sell	40,311	₹12.55	₹0.05 Cr
17 Apr 2025	UNITY ASSOCIATES	Bulk	NSE	Sell	95,05,000	₹13.89	₹13.20 Cr
5 Feb 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	1,20,27,255	₹26.18	₹31.49 Cr
5 Feb 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	1,19,25,922	₹26.20	₹31.25 Cr
5 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	97,91,018	₹26.21	₹25.66 Cr
5 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	97,91,018	₹26.20	₹25.65 Cr
5 Feb 2024	CITADEL SECURITIES INDIA MARKETS PRIVATE LIMITED	Bulk	NSE	Buy	91,85,796	₹26.22	₹24.09 Cr

1–10 of 15

1 / 2

Mr. Rajendra HingwalaNon-Executive - Independent Director-Chairperson
Ms. Naina Krishna MurthyNon-Executive - Independent Director
Mr. Viren Rajan RahejaNon-Executive - Non Independent Director
Sitendu NagchaudhuriChief Financial Officer
Mr. Akshay Rajan RahejaNon-Executive - Non Independent Director
Ms. Geeta Kalyandas FulwadayaNon-Executive - Non Independent Director
Mr. Saurabh SanchetiNon-Executive - Non Independent Director
Mr. Tavinderjit Singh PanesarChief Executive Officer
Mr. Ajay SinghHead Legal, Company Secretary & Chief Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1,313	0	0%	0%	+2

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results16 Jul 2026

1

Face value ₹10 → ₹26 Jan 2015 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

22 announcementsExport CSV

31 Aug 2026, 6:18 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

19 Aug 2026, 7:41 pmAGM/EGM

Disclosure Of Voting Results - Sixty-Sixth Annual General Meeting Of The Company

AGM PDF

19 Aug 2026, 6:32 pmCompany Update

Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

Appointment of Statutory Auditor/s PDF

19 Aug 2026, 5:08 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

25 Jul 2026, 12:15 pmAGM/EGM

Newspaper Clippings - Sixty-Sixth Annual General Meeting And Information On E-Voting And Other Related Information

AGM PDF

24 Jul 2026, 6:03 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

24 Jul 2026, 5:06 pmAGM/EGM

Notice Of The Sixty-Sixth Annual General Meeting For The Financial Year 2025-26.

AGM PDF

24 Jul 2026, 5:01 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
31 Aug 2026, 6:18 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
19 Aug 2026, 7:41 pm	AGM/EGM AGM	Disclosure Of Voting Results - Sixty-Sixth Annual General Meeting Of The Company

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	-2.8%	24.2%	27.4%	21.9%	17%	16.3%	16.7%	15%
EBIT margin %	-2.8%	3.6%	6%	1.4%	-2.2%	-1.6%	0.2%	0.6%
PAT margin %	-12%	5.9%	14.6%	7.3%	3.5%	5%	4.5%	3.8%
Working capital
Receivable days	28	6	1	11	29	33	45	43
Inventory days	3	4	2	1	1	0	0	0
Payable days	59	—	62	66	81	85	98	92
NWC days	-27	—	-59	-54	-52	-51	-53	-49
Leverage
Current ratio	2.84	1.37	3.13	2.33	3	3.46	3.57	4.01
Debt to EBITDA	—	4.49	0	0	0.02	0.02	0.01	0
Debt to equity	0.42	0.52	0	0	0	0	0	0
Interest coverage	0.1	1.4	6.6	—	309.7	101.2	79.6	113.7
Asset turnover	0.24	0.28	0.38	0.39	0.38	0.4	0.4	0.41
Return ratios
Return on assets %	-2.9%	1.7%	5.6%	2.8%	1.4%	2%	1.8%	1.6%
Return on capital employed %	0.5%	6.9%	6.3%	2.5%	1.4%	2.5%	2.6%	2.4%
Return on equity %	-5.2%	2.8%	6.3%	3.2%	1.6%	2.3%	2.1%	1.8%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	83	325	293	246	440	467	333	453	-410	290	199
	-511	-313	-133	-3,289	792	542	-382	-303	274	-264	-210
	428	-4	-166	3,098	-244	-2,003	-0	0	-1	-8	-7
Net cash flow	-0	8	-6	54	989	-994	-50	150	-137	18	-18
Free cash flow	-482	-15	25	-35	71	28	-48	61	-630	92	23
CFO / Operating profit %	68.9%	—	—	—	101.1%	98.4%	84.6%	143.8%	-127%	85.2%	61.7%

Hathway Cable & Datacom Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

1

1

Announcements

1

1

Not in the F&O segment

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Broadband Business · revenue

Hathway Cable & Datacom Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

Board meetings1

Stock splits1

Announcements

Board meetings1

Stock splits1

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Ratio timeline

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Broadband Business · revenue

1

1

1

1