Cable TV
SITI delivers Strong Profitable Growth
• Full Year Consolidated Revenues at Rs 1426.4 Cr and EBITDA at Rs 324.5 Cr
• SITI crosses 11.5 Mn active digital subscriber base
• EBITDA jumps 2.6x from Rs 58.6 Cr to Rs 151 Cr
• EBITDA Margins leap 2.1x from 5.7% to 12%
• Subscription Revenue up 41% to Rs 800 Cr
• Collection efficiency surpasses 95%
MUMBAI: SITI Networks Limited (BSE: 532795, NSE: SITINET), has released their audited Consolidated Financial Results for the Fourth Quarter and Full Year, ending March 31, 2018.
The Company announced a 2.6 times YoY Operating EBITDA growth in FY18 to Rs 151 Cr while the Operating EBITDA Margin expanded by 636 bps, growing 2.1 times.
Subscription Revenue took a significant leap of 41% in FY18 to Rs 800 Cr driving Total Revenue growth of 19% YoY to Rs 1426 Cr. This along-with focus on cost efficiencies, led to Total EBITDA growing by 42% YoY to Rs 325 Cr. The Company has also accelerated its overall collection efficiency surpassing 95% in Q4FY18.
The Company added industry leading 3.1 Mn Digital Cable households in FY18 taking active digital subscriber base to 11.5 Mn.
In Q4FY18, Operating EBITDA Margins significantly expanded by 900 bps YoY to 16.2%, while Operating EBITDA improved significantly by 145% YoY to Rs 51.5 Cr.
As an effort to drive this high-performance culture across the organization, the company also rolled out SITI Values. These core values act as a guiding light and focus on building a SITI ready for the future.
The base contribution of lock-in plans in Broadband increased to 37% exit FY18. The Company’s broadband operations with a total footprint to 16.8 lakh homes, have a base of 2.5 lakh customers. The company is working on building a growth strategy in the sector.
The Company has a national footprint across 580+ locations and ensures seamless delivery of content to its ~55 million consumers. As testament to this and how it brings together families and friends, “Zindagi Ka Network”, SITI’s online and on-screen campaign launched in January 2018 received an overwhelming response from across the industry and Social Media.
While commenting on the results, Mr. Rajesh Sethi, Chief Business Transformation Officer, SITI Networks Limited mentioned –
“We at SITI are proud of our performance for this past year as we enter FY19 with significant momentum. In FY18 we have achieved strong operational and financial results while also delivering superlative customer experience and must-see content to our ~55 Mn strong consumer base across the country. Our continued focus on Customer Experience drove exceptional EBITDA growth (2.6x) coupled with industry leading subscriber additions ( 3.1 Mn).
We continue to maintain our steady increase in customer additions, driving efficiencies through war on waste, balanced with solid EBITDA growth and expanding Margins. We continue to transform into a process driven organization with Customer experience at its heart.
As we achieve more from less, our year-over-year growth rates of Revenue and EBITDA continue to accelerate, which is a testament of our transformation efforts across SITI.”
Cable TV
Hathway Cable appoints Gurjeev Singh Kapoor as CEO
Leadership change comes as cable TV faces shrinking subscriber base and modest earnings pressure
MUMBAI: Hathway Cable and Datacom has tapped industry veteran Gurjeev Singh Kapoor as chief executive officer, marking a leadership pivot at a time when India’s cable television business is under mounting strain.
Kapoor will take over from Tavinderjit Singh Panesar, who is set to retire in August after a long innings with the company. Panesar, chief executive since 2023, has held multiple leadership roles at Hathway, including his latest stint beginning in 2022.
Kapoor brings more than three decades of experience in media and entertainment. He most recently led distribution at The Walt Disney Company’s Star India business, now part of JioStar. His career spans television distribution and affiliate partnerships, with stints at Sony Pictures Networks India, Discovery Communications and Zee Entertainment.
Panesar, with over three decades in the industry, has worked across strategic planning, distribution and business development in media, broadcasting and manufacturing. His past associations include ESPN Star Sports, Star India, Apollo Tyres and JK Industries.
The transition lands as the cable sector grapples with structural disruption. Traditional operators are losing ground to streaming platforms, while telecom and broadband players tighten the squeeze with bundled offerings.
An EY report estimates India’s pay-TV base could shrink by a further 30 to 40 million households by 2030, taking the total down to 71 to 81 million. The slide follows a loss of nearly 40 million homes between 2018 and 2024, a contraction that has already wiped out more than 37,000 jobs in the local cable operator ecosystem.
Hathway’s numbers reflect the strain. The company reported a consolidated net profit of Rs 93 crore for FY25, down from Rs 99 crore a year earlier. Revenue inched up to Rs 2,040 crore from Rs 1,981 crore. As of December 2025, it had about 4.7 million cable TV subscribers and roughly 1.02 million broadband users.
Kapoor steps in with a familiar brief but a shrinking playbook. In a market where viewers are cutting cords faster than companies can reinvent them, the new chief executive inherits a business fighting to stay plugged in.
