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Hathway Cable & Datacom Ltd

HATHWAY
NSE
11.09
0.00%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Hathway Cable & Datacom Ltd

HATHWAY
NSE
11.09
0.00%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
1,963Cr
Close
Close Price
11.09
Industry
Industry
Entertainment & Media
PE
Price To Earnings
24.11
PS
Price To Sales
0.91
Revenue
Revenue
2,150Cr
Rev Gr TTM
Revenue Growth TTM
5.39%
PAT Gr TTM
PAT Growth TTM
-11.13%
Peer Comparison
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue
RevenueCr
499484505493503513511513531537537546
Growth YoY
Revenue Growth YoY%
11.62.25.57.30.76.01.34.05.54.75.06.4
Expenses
ExpensesCr
422401423413422426428422443456459470
Operating Profit
Operating ProfitCr
788382808186839188817776
OPM
OPM%
15.517.116.316.316.116.816.317.716.515.114.413.9
Other Income
Other IncomeCr
464439462635233838222515
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
929390808181878785767474
PBT
PBTCr
313431462540194140262817
Tax
TaxCr
914811714569866
PAT
PATCr
222022351826143531182211
Growth YoY
PAT Growth YoY%
6.6-33.8-22.3336.6-18.128.7-39.00.769.4-29.259.2-67.7
NPM
NPM%
4.54.14.47.03.65.02.76.85.83.44.02.1
EPS
EPS
0.10.10.10.20.10.10.10.20.20.10.10.1

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
RevenueCr
1,8321,1371,3441,5351,5581,7981,7321,7931,8581,9812,0402,150
Growth
Revenue Growth%
-37.918.314.21.515.4-3.73.53.66.63.05.4
Expenses
ExpensesCr
1,5801,0161,1481,1991,2501,3631,2571,4001,5431,6591,6991,828
Operating Profit
Operating ProfitCr
252121197336309435475393315322341322
OPM
OPM%
13.810.614.621.919.824.227.421.917.016.316.715.0
Other Income
Other IncomeCr
78-102644-362272212130132174122100
Interest Expense
Interest ExpenseCr
154901111532212263700111
Depreciation
DepreciationCr
324259306335352371371368357354336309
PBT
PBTCr
-147-238-194-108-62711027915690142125112
Tax
TaxCr
28000-4394252625423230
PAT
PATCr
-175-238-193-108-18810525313065999382
Growth
PAT Growth%
-36.218.644.2-74.0156.2140.1-48.5-49.951.9-6.8-11.1
NPM
NPM%
-9.5-20.9-14.4-7.0-12.05.914.67.33.55.04.53.8
EPS
EPS
-2.3-2.9-2.3-1.3-1.90.61.40.70.40.60.50.5

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
166166166166354354354354354354354354
Reserves
ReservesCr
1,0449237276263,2853,3893,6423,7713,8293,9364,0284,111
Current Liabilities
Current LiabilitiesCr
1,3431,2461,3971,4681,2192,526491472621638712690
Non Current Liabilities
Non Current LiabilitiesCr
8951,0181,1231,0131,566101302226342626
Total Liabilities
Total LiabilitiesCr
3,6913,3553,4143,2696,4246,3714,5194,6204,8314,9635,1225,182
Current Assets
Current AssetsCr
1,0095736445533,4563,4731,5401,1001,8632,2092,5422,763
Non Current Assets
Non Current AssetsCr
2,6822,7812,7702,7162,9672,8982,9793,5202,9682,7542,5802,419
Total Assets
Total AssetsCr
3,6913,3553,4143,2696,4246,3714,5194,6204,8314,9635,1225,182

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
22683325293246432467333453-405290199
Investing Cash Flow
Investing Cash FlowCr
-522-511-313-133-3,289800542-382-303274-264-210
Financing Cash Flow
Financing Cash FlowCr
356428-4-1663,098-244-2,00300-6-8-7
Net Cash Flow
Net Cash FlowCr
6008-654989-994-50150-13718-18
Free Cash Flow
Free Cash FlowCr
-211-479728-336430-4762-62494
CFO To PAT
CFO To PAT%
-129.7-35.1-167.8-271.6-131.2409.9184.5255.3693.5-407.5313.7241.4
CFO To EBITDA
CFO To EBITDA%
89.868.9165.087.379.899.398.384.6143.8-125.585.261.7

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
4,0743,2183,1432,8495,1242,3814,5403,0532,2943,4712,2991,572
Price To Earnings
Price To Earnings
0.00.00.00.00.022.817.923.635.035.025.019.1
Price To Sales
Price To Sales
2.22.82.31.93.31.32.61.71.21.81.10.7
Price To Book
Price To Book
3.43.03.53.61.40.61.10.70.60.80.50.3
EV To EBITDA
EV To EBITDA
19.836.021.111.421.12.98.97.36.210.26.24.3
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0100.031.1
OPM
OPM%
13.810.614.621.919.824.227.421.917.016.316.715.0
NPM
NPM%
-9.5-20.9-14.4-7.0-12.05.914.67.33.55.04.53.8
ROCE
ROCE%
0.3-6.5-4.22.5-7.85.97.93.82.23.32.92.5
ROE
ROE%
-14.4-21.8-21.7-13.6-5.22.86.33.21.62.32.11.8
ROA
ROA%
-4.7-7.1-5.7-3.3-2.91.75.62.81.42.01.81.6
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Hathway Cable & Datacom Limited (HCDL) is a leading Indian fixed-line internet service provider (ISP) and multi-system operator (MSO), delivering high-speed broadband, cable television (CATV), and OTT services across India. A part of the **Reliance Group** following a strategic acquisition, HCDL has evolved from a traditional B2B MSO model into a **technology-driven, customer-centric Telco-grade B2C enterprise**. Through its wholly owned subsidiary **Hathway Digital Limited (HDL)** and associate company **GTPL Hathway Limited**, it maintains a dominant presence in both the broadband and digital cable ecosystems. --- ### **Market Presence & Scale** - **Digital Cable Subscribers:** HDL serves **4.9 million digital cable subscribers** across **over 700 towns**, with a pan-India reach supported by a robust fiber and coaxial network. - **Broadband Subscribers:** As of **March 31, 2025**, HCDL had **1.06 million wireline broadband subscribers**, driven by strong demand in tier 2 and tier 3 towns for remote work, education, and digital entertainment. - **Infrastructure Footprint:** - **Fiber Optic Network:** Operates over **85,000 km** of fiber-optic cable (pan-India). - **Homes Passed:** **6.3 million** two-way broadband-enabled homes. - **Headends:** HDL operates **seven main digital headends**, with backend support from **Jio’s fiber infrastructure**. - **Associate Company:** HCDL holds a **37.32% equity stake in GTPL Hathway Limited**, one of India’s largest MSOs and the market leader in Gujarat. GTPL serves over **8 million cable subscribers** and is a major broadband player in eastern and western India. --- ### **Core Business Segments** #### **1. Cable Television (via HDL)** - **Technology & Delivery:** - Leverages **Jio’s fiber backend infrastructure** for high-quality, stable signal delivery. - All subscribers are managed through **Hathway Connect**, a digital portal for Local Cable Operators (LCOs), ensuring 100% digital service orchestration. - Achieves **96% online payment collection**, with instant activation post-payment. - **Content & Viewing Experience:** - Offers **HD picture quality (5x sharper)**, 16:9 widescreen format, and support for **3D content**. - Provides **52 in-house regional channels** and supports **TRAI’s Channel Selector App**, giving users control over bouquet customization. - Launched **Kflicks**, a dedicated Korean content channel with **dubbing in Telugu and Kannada**, targeting millennials and regional audiences in South India. - **Set-Top Box (STB) Innovation:** - Rolled out **next-generation HEVC HD and OTT Hybrid STBs**, enabling: - **Time-shift TV**, **trick-play**, **PVR via USB (up to 1TB)**, and **Push VOD**. - Direct access to **OTT apps** on TV without additional devices. - Uses **Nagra Vision and Jio-branded STBs** with enhanced content security via **Verimatrix CAS upgrade**. - **LCO Engagement:** - Supports **~80,000 LCOs** via the **LCO LightHouse App** – a B2B platform offering training, troubleshooting, rate updates, and gamified reward programs. - Enhanced API integration enables **instant service activation** across LCO-operated apps. --- #### **2. Broadband Services (FTTH & Hybrid)** - **Technology Leadership:** - **First Indian MSO to launch GPON-based FTTH broadband** nationwide. - Utilizes **state-of-the-art FTTH and DOCSIS 3.1** technologies for high-speed, low-latency connectivity. - Deploys **dual-band Optical Network Terminals (ONTs)** with **band-steering** – a **first-in-industry innovation** that optimizes WiFi by dynamically switching devices between **2.4 GHz (coverage)** and **5 GHz (speed)** bands. - **Broadband Offerings:** - **FiberMAX Premium Broadband** launched in **22+ cities** including Delhi-NCR, Mumbai, Bengaluru, Hyderabad, and Kolkata. - All plans offer **unlimited data with no throttling or overage charges**. - Speeds range from **100–500 Mbps**, with **guaranteed Wi-Fi speeds** and **free dual-band routers**. - **User Engagement & Performance:** - **Average monthly data consumption:** **>357 GB per FTTH customer** (highest in southern India). - **84% of installations completed within 48 hours**; repeat complaint rate is just **4% within 7 days**. - Technical complaints: **74 per 1,000 subscribers**, indicating high service reliability. - **Network Expansion:** - Doubled FTTH capacity via **1:64 to 1:128 split upgrades**, enabling cost-effective scalability. - Deployed **parallel GPON networks in high-penetration DOCSIS areas** to offer premium speed tiers. --- ### **Digital & AI-Driven Innovations** Hathway has embraced digital transformation to enhance customer experience and operational efficiency: - **AI-Powered Customer Support:** - **DIVA**, the AI chatbot (powered by Jio Haptik), provides 24x7 support across **web, app, and WhatsApp**, resolving **83% of queries autonomously**. - **VoiceBOT (NLP + ML)** integrated with OSS/BSS systems, handles IVR calls, reduces call center load, and improves first-time resolution. - **Customer Self-Service:** - **MyJio app** and **Hathway mobile app** enable subscription renewal, plan upgrades, complaint logging, and OTT access. - **WhatsApp Business** used for continuous engagement, notifications, and service activation. - **Infrastructure Modernization:** - Investments in **headend modernization**, **cybersecurity**, and **middleware deployment** enable real-time service activation (as fast as **15 seconds**). - **IT backend supports 2 million+ transactions per day**. --- ### **Strategic Growth Initiatives** - **Market Expansion:** - Connecting **new towns via IP links and fiber extension** (e.g., +900 km added in FY24). - Focus on **Southern and Eastern India**, where broadband adoption is growing rapidly. - **Product Innovation:** - Launch of **DPO (Disaggregated Pay Options)** packs for flexible, regionalized channel bundles. - Piloting **"TV Plug"** – a **mobile tower-based last-mile delivery solution** for remote areas. - **OTT Integration:** - Combines **cable TV with OTT streaming** through hybrid set-top boxes and Jio apps. - Partnerships with education and infotainment platforms to offer **bundled digital lifestyles**. - **ARPU & Engagement Focus:** - Aims to **rationalize ARPU** through innovative packaging and regional content. - Increasing engagement via **localized content, interactive services, and digital upsell paths**. --- ### **Competitive Position & Risks** - **Strengths:** - First-mover in **GPON FTTH**, **dual-band ONTs**, **AI chatbots**, and **OTT-hybrid STBs**. - Strong **scale and negotiating power** with broadcasters and vendors. - Backed by **Reliance ecosystem** – access to Jio’s fiber backbone, NOC, and technology stack. - **Opportunities:** - Rising demand for **fixed broadband** due to **online education, OTT consumption, and work-from-home**. - Untapped potential in **non-metro markets** and **OTT bundling**. - **Threats:** - Intense **competition from mobile broadband (4G/5G)** and **DTH providers**. - Long-term **shift toward non-linear, on-demand content**. - **Digital fatigue among LCOs** may delay adoption of new initiatives. - **Risk Mitigation:** - Continuous **network and device upgrades** (MPEG-4/HEVC STBs, DOCSIS 3.1, GPON). - Offering **converged solutions (Cable + Broadband + OTT)** to retain customers. - Strengthening **LCO digital readiness** via training and incentives. ---