Cable TV
Siti Cable seeks shareholders’ nod for raising $100 million
MUMBAI: Multi system operator (MSO) Siti Cable is looking at raising up to $100 million through equity shares via public issue, private placement or qualified institutional placement (QIPs) route. The MSO for the same has sought shareholders approval.
Siti Cable will utilise the funds to meet expenditure to expand its business in phase III and IV of digitisation, ongoing acquisition of MSOs, LCOs and primary points, value added services (VAS), working capital requirements as well as to reduce debts.
The company sought shareholders’ approval to raise funds through one or more placements of equity shares in domestic and/or one or more international markets whether by way of private placement or otherwise, in one or more tranches, so that the total amount raised shall not exceed rupee equivalent of $100 million.
The members had approved raising of funds of up to $100 million by passing a special resolution through postal ballot in October 2014, against which the MSO has already raised Rs 221.11 crore.
“Since the validity of the shareholders’ approval as per Regulation 88(1) of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (‘SEBI Regulations’), is 12 months, it is proposed to seek fresh approval of the shareholders in this regard,” the company said.
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.
