Cable TV
In hybrid push, Siti Networks launches Siti PlayTop Android TV set top box
New DELHI: In a bid to cement its place in the hybrid set-top box space, multi-system operator (MSO) Siti Networks has launched Siti PlayTop Magic, a 4K HDR STB which offers Android TV features along with linear TV. For a superior next-generation entertainment experience, the STB uses NAGRA’s card-less content security solution. This represents NAGRA’s first Android TV project in India based on the Google MediaCAS framework for Android TV deployments.
Through its partnership with NAGRA, Siti Networks hopes to rapidly deploy both secure and market-leading Android TV services across its three-million strong subscriber base in India including a comprehensive content offering and access to a large library of applications.
Additionally, Siti PlayTop Magic's mobile app, available on both iOS and Android platforms, brings a single subscription for multiple OTT apps like Hungama Play, Shemaroo Me and Adda Times in customers’ palms.
The roll-out of Siti PlayTop STB and iOS/Android apps is a crucial part of the MSO’s expansion strategy in India, remarked Indian Cable Net Company Ltd (JV partner of Siti) director Suresh Sethiya.
"We are delighted to partner with Nagra, who provides comprehensive support for Android TV through an end-to-end content protection ecosystem. This box will make any TV Smart while bringing Siti HD+ digital cable television's ultimate viewing experience with a DVR facility,” shared Siti Networks CEO Anil Malhotra.
The NAGRA solution provides comprehensive support for Android TV through an end-to-end content protection ecosystem that can be extended at a time of an operator’s choosing through additional options such as forensic watermarking and/or anti-piracy services.
Deployed “as a service,” it enables operators to take advantage of reduced total cost of ownership and regular modular and cloud-driven updates and frameworks for both CAS and DRM integration, while ensuring the ecosystem remains protected from pirates.
“We’re proud to partner with Siti Networks on its continued expansion within the Indian market,” said NAGRA SVP – sales APAC Stephane Le Dreau. “The strength, level of innovation and unique features of NAGRA’s content and service protection services for Android TV provides operators around the world with the tools they need to protect their content and rapidly deploy and protect their next-generation services against piracy.”
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
