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GTPL Hathway Ltd
(GTPL)
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Rating:56Neutral
Price Target:
₹60.00
▲(10.89% Upside)
Action:Reiterated
Date:10/14/26
The score is primarily held back by pressured financial performance (weaker profitability, compressed returns, rising debt, and uneven free cash flow). Technical indicators are moderately supportive in the near term, while valuation is a clear headwind due to a very high P/E despite a reasonable dividend yield. Earnings call tone and guidance are constructive, emphasizing integration-led margin improvement and subscriber growth targets, but near-term profitability softness remains a key risk.
Positive Factors
Revenue and subscription growth
Strong growth in total income and subscription revenue indicates expanding customer monetization across GTPL’s core businesses. Recurring subscription growth can support durable revenue visibility, provide operating scale, and strengthen the company’s ability to reinvest in network coverage and service expansion.
Negative Factors
Material profitability deterioration
The decline in operating profit and net income shows that revenue growth is not currently translating into consistent earnings progression. Sustained margin pressure can reduce internal funding capacity, weaken returns on the existing capital base, and make future growth more dependent on successful cost and integration initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and subscription growth
Strong growth in total income and subscription revenue indicates expanding customer monetization across GTPL’s core businesses. Recurring subscription growth can support durable revenue visibility, provide operating scale, and strengthen the company’s ability to reinvest in network coverage and service expansion.
Read all positive factors
GTPL Hathway Ltd (GTPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹6.07B
Dividend Yield3.7%
Average Volume (3M)4.14K
Price to Earnings (P/E)―
Beta (1Y)0.99
Revenue Growth10.27%
EPS Growth-106.45%
CountryIN
Employees631
SectorGeneral
Sector StrengthN/A
IndustryEntertainment
Share Statistics
EPS (TTM)-0.23
Shares Outstanding112,463,040
10 Day Avg. Volume2,163
30 Day Avg. Volume4,143
Financial Highlights & Ratios
PEG Ratio-0.60
Price to Book (P/B)0.55
Price to Sales (P/S)0.17
P/FCF Ratio9.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
GTPL Hathway Ltd Business Overview & Revenue Model
Company Description
GTPL Hathway Limited, together with its affiliated companies, specializes in delivering cable television and high-speed internet services. The firm organizes its activities into three core divisions: Cable Television, Internet, and EPC Project. A ...
How the Company Makes Money
GTPL primarily makes money by charging recurring subscription fees for (1) digital cable television services and (2) broadband internet services. In its cable TV business, revenue is generated from monthly/periodic customer subscriptions for acces...
GTPL Hathway Ltd Earnings Call Summary
Earnings Call Date:Oct 13, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Jan 14, 2027
Earnings Call Sentiment Positive
The call was predominantly positive, supported by 19% consolidated revenue growth, 25% standalone revenue growth, strong digital TV subscriber additions, the completed ACT acquisition, broadband and HITS platform initiatives, and expectations for 150 basis points-250 basis points of operational EBITDA margin improvement. The main negatives were the slightly negative consolidated PAT, the decline in operational EBITDA margin to 20% from 22%, slower broadband additions, the ACT business's current 12% operating margin, and acknowledgment of challenging market conditions. Management presented these issues as areas being addressed through integration, network migration, new leadership and continued expansion.Positive Updates
ACT Group Cable TV Acquisition Completed
GTPL completed the acquisition of the cable television businesses of seven ACT Group companies on September 15, 2026, for an aggregate cash consideration of INR 35.55 crore. The acquired businesses serve approximately 6 lakh digital TV subscribers across Andhra Pradesh, Telangana, Odisha and Karnataka, including 1.25 lakh primary subscribers at higher ARPU.
Negative Updates
Consolidated PAT Turned Slightly Negative
Consolidated PAT was INR -50 lakhs in Q2 FY 2027. Management attributed the result to an additional INR 75 million impact, comprising INR 45 million of forex loss and INR 30 million of amortization related to seven new transponders.
Read all updates
Q2-2027 Updates
Positive
Negative
ACT Group Cable TV Acquisition Completed
GTPL completed the acquisition of the cable television businesses of seven ACT Group companies on September 15, 2026, for an aggregate cash consideration of INR 35.55 crore. The acquired businesses serve approximately 6 lakh digital TV subscribers across Andhra Pradesh, Telangana, Odisha and Karnataka, including 1.25 lakh primary subscribers at higher ARPU.
Read all positive updates
Company Guidance
Management expects broadband conversion to grow from 17%-18% to around 20%, with additions returning to “around 20,000 number” and “More than 20,000”; ACT’s operating margin is expected to move from 12% to somewhere around 25% margin, 25%-26% margin. The company expects double-digit growth in subscription revenues in both the businesses, H1 FY 2027 operational EBITDA of 21% to increase by 150 basis points-250 basis points, digital TV net additions of 1.8 million-1.9 million by the end of the year, 13 million-14 million CATV subscribers in three years' time, close to 12 million subscriber base and 2 million subscriber base in the broadband side in the next three years, and 7%-8% every year growth per annum in subscriber base. It expects gross adds of 2 million-2.5 million every year to continue, more than 60% of the existing network to be on HITS, all the existing network to convert by December or maximum by January, expansion after January, and the operating EBITDA margin to increase by 150 basis points-250 basis points by the end of the FY 2027.GTPL Hathway Ltd Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
60
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.15B | 37.19B | 34.71B | 32.12B | 26.64B | 24.14B |
| Gross Profit | 5.64B | 9.61B | 11.43B | 4.48B | 9.09B | 5.27B |
| EBITDA | 4.11B | 4.33B | -3.23B | 5.11B | 5.02B | 5.58B |
| Net Income | -26.17M | 157.66M | 478.92M | 1.07B | 1.14B | 2.00B |
Balance Sheet | ||||||
| Total Assets | 43.90B | 32.76B | 32.68B | 30.54B | 27.10B | 23.52B |
| Cash, Cash Equivalents and Short-Term Investments | 830.76M | 1.03B | 485.11M | 1.03B | 1.45B | 814.23M |
| Total Debt | 5.48B | 5.02B | 3.13B | 2.88B | 1.61B | 1.39B |
| Total Liabilities | 31.47B | 20.08B | 19.75B | 17.68B | 15.00B | 12.27B |
| Stockholders Equity | 11.26B | 11.46B | 11.64B | 11.60B | 11.03B | 10.32B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 635.23M | 673.08M | -168.13M | 1.15B | 850.05M |
| Operating Cash Flow | 0.00 | 3.60B | 4.52B | 4.55B | 5.83B | 3.95B |
| Investing Cash Flow | 0.00 | -2.73B | -3.80B | -4.77B | -4.62B | -3.11B |
| Financing Cash Flow | 0.00 | -806.51M | -1.11B | -474.95M | -580.20M | -1.02B |
GTPL Hathway Ltd Technical Analysis
Neutral
54.11
Price Trends
54.90
Negative
56.80
Negative
62.02
Negative
Market Momentum
-0.42
Positive
48.14
Neutral
26.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GTPL, the sentiment is Neutral. The current price of 54.11 is below the 20-day moving average (MA) of 55.08, below the 50-day MA of 54.90, and below the 200-day MA of 62.02, indicating a bearish trend. The MACD of -0.42 indicates Positive momentum. The RSI at 48.14 is Neutral, neither overbought nor oversold. The STOCH value of 26.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GTPL.
GTPL Hathway Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹11.61B | 7.76 | ― | ― | -2.48% | -22.06% | |
56 Neutral | ₹6.07B | -232.30 | ― | 3.70% | 10.27% | -106.45% | |
56 Neutral | ₹16.05B | 24.61 | ― | ― | 5.91% | -30.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | ₹3.76B | -0.38 | ― | 1.19% | -23.76% | -69.83% | |
41 Neutral | ₹3.04B | -1.52 | ― | 0.65% | -14.17% | -55.75% | |
40 Underperform | ₹427.31M | -0.24 | ― | ― | ― | ― |
* General Sector Average
IN:GTPL
GTPL Hathway Ltd
54.00
-48.81
-47.48%
IN:DEN
DEN Networks Limited
24.36
-8.89
-26.74%
IN:DISHTV
Dish TV India Limited
2.04
-2.40
-54.05%
IN:HATHWAY
Hathway Cable & Datacom Ltd.
9.07
-4.77
-34.47%
IN:SHEMAROO
Shemaroo Entertainment Ltd.
105.90
-12.25
-10.37%
IN:SITINET
Siti Networks Limited
0.49
0.00
0.00%
GTPL Hathway Ltd Corporate Events
GTPL Hathway Q2 FY27 Revenue Jumps 19% as Digital TV Base Hits 11 Million
Oct 13, 2026
GTPL Hathway reported consolidated total revenue of ₹11,464 million for Q2 FY27, a 19% year-on-year increase, driven by growth in both digital cable TV and broadband segments. Digital cable TV revenue rose to ₹3,455 million and broadba...
GTPL Hathway Releases Q2 FY27 Investor Presentation on Unaudited Financial Results
Oct 13, 2026
GTPL Hathway Ltd has released an investor presentation detailing its standalone and consolidated unaudited financial results for the quarter and half year ended September 30, 2026. The disclosure, made in line with Indian listing regulations and s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.