DTH base in India up 12 times to 12 million in 3 years. India has 137 million T.V.Of this the cable operators have 57% share. DTH operators have JUST 8.7% share. In three years, T.V. sets will increase to 200 million sets and DTH operators are likely to walk away with 20% share.Of this Dish which presently has 42% share, will have a revenue growth at an average of 49% to 2440 cr. As the input costs areone time in nature, the margains are likely to improve to give a PAT of 1000crs. With EPS of 11/- and growing, a PE of 15 is not only justified but pretty discounted. hence I arrive at a price of 163/- Lookingfor comments please...
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