Dish TV India Ltd is a leading player in the direct-to-home (DTH) market in India. The company extends its services across urban, rural, and semi-urban regions of India through a range of brands, including Dish TV, D2H, Watcho OTT app and Zing Super.
The company’s enormous distribution network consists of over 2,100 distributors and approximately 1,37,000 dealers/recharge outlets in 9,300 cities. In addition, the company possesses multiple call centres in 22 cities to provide multilingual customer service around the clock.
Dish TV has also been collaborating with digital fintech companies to provide customers with recharging convenience.
The company was initially issued the direct-to-home licence by the Ministry of Information and Broadcasting in the year 2003, which was valid for a period of 10 years, i.e. up to September 2013. Subsequently, the ministry was periodically granting interim extensions of the licence.
Later, in 2020, the ministry issued amended guidelines for the DTH sector in India, which had the provision of a term of 20 years for the DTH licence. Following the amended guidelines, Dish TV India had applied for the issue of a new licence. The Ministry of Information and Broadcasting approved the application and has granted provisional licence to the company with effect from April 1, 2021.
The shares of Dish TV India were listed on exchanges in April 2007. As of January 2, 2024, the company’s market capitalisation stood at ₹3,563 crore. Dish TV share price has jumped over 40% in the last three years.
Business operations
DTH segment:
The company’s DTH product range spans the entire spectrum from the SD set top box to the top-of-the-line hybrid box. The company has expanded its portfolio of connected devices by introducing two innovations – Dish SMRT Hub and DTH Stream. These hybrid HD set-top-boxes provide internet content, games, and smart services on traditional TV sets. In addition, the Chromecast feature enables simple mirroring of content from mobile devices to the big screen.
Watcho OTT:
During FY23, Dish TV introduced the OTT aggregation service through its Watcho OTT app, by offering multiple OTT services into a single window. The service provides most of the relevant OTT services, spread across all genres including the regional OTT services. To access content from the platforms, only a single subscription is required.
Zing:
The Zing Super Box, a 2-in-1 box that combines Pay TV channels with a Free-to-Air package, is another notable product of the company. It provides 230 channels of entertainment for free for the first two years for its consumers. This has resulted in attracting subscribers from the Hindi heartland.
Value-added services:
In collaboration with Hungama Digital Media Entertainment Pvt Ltd, Dish TV launched Bollywood Hungama Active – a single platform for Bollywood news, fun facts, and updates. Dish TV also launched an ad-free service ‘Hollywood Indie Active’, which offers Hollywood content in four Indian languages – Hindi, Tamil, Telugu, and Marathi.
Dish TV India Financial Highlights
- Revenue: Dish TV India reported revenue of ₹1,191.99 crore in FY26 vs ₹1,593.95 crore in FY25. It showed a decrease of 25.22% on a yearly basis.
- Operating Profit: Dish TV India reported an operating loss of ₹804.64 crore in FY26 vs ₹487.66 crore in FY25. It showed a decrease of 65.00% on a year-on-year basis.
- Net Profit: Dish TV India reported a net loss of ₹807.36 crore in FY26 vs ₹487.66 crore in FY25. It showed a decrease of 65.56% on a yearly basis.
Dish TV India Quarterly Result Highlights
- Dish TV India reported revenue of ₹271.46 crore in Jun 2026, compared with ₹253.87 crore in Mar 2026, representing an increase of 6.93% on a quarter-on-quarter (QoQ) basis.
- Dish TV India reported an operating loss of ₹286.30 crore in Jun 2026, compared with ₹303.95 crore in Mar 2026, representing an increase of 5.81% on a quarter-on-quarter (QoQ) basis.
- Dish TV India reported a loss of ₹286.30 crore in Jun 2026, compared with ₹303.95 crore in Mar 2026, reflecting an increase of 5.81% on a QoQ basis.
- The earnings per share (EPS) of Dish TV India stood at ₹4.20 during Jun 2026.
Data Source: BSE, Company announcements
Securities shown are illustrative, not recommendations. Past performance does not guarantee future results.
