27 May 2016 Broadcasting / Movie & Entertainment Dish 7V Model updated:26 May 2015 lihrinini the nnoit,,e. Asia India Broadcasting I Movie & Entertainment Dish IV Routers: DS ry BO Buy Price (26 May 151 Target Pr co 52 Week range Markel Cap (ml Bloomberg: DIN IN INR 97.65 INR 106.00 INR 51.15 - 97.65 INRm 103,978 USDm 1.639 0th TV is Indas first ena boom: orectio-home entertainment service. h has digitized Indian entertainment to tiring the Oest m television wewng through digital technology As of March 2010 the company had a gross subscriber base of 9mn, with • market "nets of 42%. Thsh 'IV is part of the conglomerate that also owns 2** Enterwrrnenk Zee News and WWI L. Pigs Pnrlornamat 105 90 75 60 45 30 • . • May 'Zug '310r 13Feb I 1. ay tang 1.trov 14Feb 15 —0-W Wow Rocs henna (8517W elstme4 Mingin here f: 40 30 20 10 0 -10 ••••••••••••••••.Passass osim.........** -- Immas•••••• 12 '3 '4 '5E '6E 17E —arm maw —e—Sein Monza OWth 7r PirifthbiIity 40 3: 21°0 I 12 13 14 Solvancy 20 15 10 r 4 5 k 2 0 0 12 13 IL ISE ME 17E I II 10 16E 18E 17E i. 250 • I 2C0 ICO 4 100 60 Saw trommuiSI •—••—eoEini01 .8 — hmdslanquwearM Not meenal navel MN* fecal yaw and 31-Mar inhnea.4! Sun: to:; 2012 2013 2014 2015E 2016E 2017E 08 EPS IINR) -0 77 .1 18 '036 004 328 547 Reported EPS (INR) 4 25 .062 0.36 004 326 547 OPS (INRI 000 000 0.00 000 000 0.00 gyps gen) -0.9 -1.5 -29 -29 0.4 50 Weighted average shares WI 1,064 1.065 1,065 1,095 1,055 1,065 Await* market cap (INRm) 75.747 74,251 59913 103,979 103,978 103.978 Enterprise value (IN Rml 84.270 84.178 66.428 110.899 107.087 101.708 V.Iit:: , tr, 0 Metric , P/E (DB) Ix) nm nm nm nm 29.9 17.9 P/E (Reported) (x) nm nm nm nm 299 17.9 P/BV (5) -72.35 -4598 -17.96 3408 24606 19.35 PCP Yield (%) nm MI 4.1 06 3.7 5.2 Dividend Yield 1%, 00 0.0 0.0 00 0.0 0.0