DTH subscriber base in India - 2011



The DTH industry might emulate the telecom sector over the next few years with this kind of pace of subscriber addition. From just 4 million subscribers in 2007 to 35 million DTH connections currently, the industry has grown at phenomenal pace.

As per KPMG report the industry is expected to reach 71 million subscriber by 2015. There are 6 major players in this industry including Dish TV, Bharti Airtel, RCOM, Tata sky, SUN Direct and Videocon. Dish TV has a gross subscriber base of 10.4 million, while Bharti Airtel and RCom have 5.6 million and 3.5 million respectively.

DISH TV is the largest player in this industry with revenues of more than Rs. 1400 crores and growing at 52% annually. Also it has the lowest Subscriber acquisition cost of Rs. 2224 compared to the industry average of 3000-4000. Investors with long term horizon can include this stock in their portfolio for a possible multi fold appreciation.

CMP of Dish TV is Rs. 77 and commands a Market cap of Rs. 8,200 crores. 52 week high low for the stock is 79 / 38.



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