Saturday, February 27, 2010

Sri Adhikari Brothers Television Network-Phoenix from the Ashes

Sri Adhikari Brothers Television Network (BSE CODE 530943) is the first listed media software company in India . Started by brothers Mr. Gautam Adhikari and Mr. Markand Adhikari in 1985, Sri Adhikari Brothers Television Network Ltd. and has successfully transformed from a small family owned business to one of the big names in the television entertainment industry.A number of popular programmes produced by SAB between 1995 to 2005 which includes Made in India, Tea Time Manoranjan, Suraag, Sunhare Pal, All the Best, Commander, Waqt Ki Raftar ,Shriman Shrimathi and many more for various TV Channels. Company was performed exceedingly well till 2001 and its share price touched Rs.2350/- in February 2000.Company’s misfortune starts with the launch of its own TV Channel SAB TV ,which turn as a disaster .In order to launch this channel company raised huge debt which it could not serviced and its content development business affected severely. The new TV Channel too didn’t pick up and ultimately sold it to Sony for 57 crore.

Now after many years , Promoters understood the factors led to the failure of their business and decided to revitalise the content production business .Earlier they splitted the face value of shares and now again it consolidated to Rs.10/-.In February 2010 company allotted 2925000 warrants to promoters which will be converted into shares @ 31.85.Recently company bought back its entire outstanding FCCB (Total value 10 crore ) which was allotted in 2007. In financial front too company’s performance improved and it posted 60% growth in turnover and net turn to positive after many many years in this December qtr. Now company is planning to develop a production studio in Mumbai to reduce the cost of production of content and land is already with the company.All these are positive signs and considering the experience of promoters and their new initiatives , this company may turn to be a phoenix from the ashes . CMP is Rs.27/-

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