Dish TV India Ltd is India's leading direct-to-home entertainment service provider, listed on the Indian Stock Exchange. They are committed to providing superior quality entertainment services, giving customers access to over 500 channels in a range of languages. DishTV India Ltd. (stylised as dishtv) is an Indian subscription based satellite television provider based in Noida. DishTV was launched by the Zee Group on 2 October 2003.
On 22 March 2018, Dish TV completed a merger with Videocon d2h, creating the largest DTH provider in India at the time of merger. Dish TV is India's biggest and amongst the world's largest (single country) direct-to-home (DTH) Company with a subscriber base of more than 29 million. The company has established itself as a pioneer in the Indian DTH industry and continues to maintain its position as one of the country's most trusted entertainment service providers.
The company provides direct-to-home (DTH) television services. Its major products include channel packages, set-top box, and over-the-top (OTT) streaming platforms. The company's services comprise entertainment, lifestyle, devotional and astrology, kids, learning, regional, multilingual services, and recording. Dish TV offers its products and services under the brand names D2H, Dish TV, and Zing Digital.
Dish TV has on its platform more than 655 channels & services including 40 audio channels and 70 HD channels & services. Dish TV leverages multiple satellite platforms including NSS-6, Asiasat-5, SES-8, GSAT-15 and ST-2 and has a bandwidth capacity of 1422 MHz, the largest held by any DTH player in the country. The company's comprehensive service portfolio includes advanced features such as high-definition viewing, recording capabilities, and interactive services that enhance the customer experience.
Their range of TV packages offers something for everyone, from sports and movies to regional and international entertainment. Additionally, users can access thousands of web-based channels and interactive services, with the option to watch TV on-the-go through their mobile apps. Their streaming service is also available, providing a convenient way to watch live or recorded content from any device, anywhere.
The Company has a vast distribution network of over 4,000 distributors & around 400,000 dealers that span across 9,450 towns in the country. DTIL is a front-runner in the Indian DTH industry, providing best-in-class entertainment across genres, to every nook and corner of the nation. With a deep distribution network reaching over 9450 cities and towns of India, it caters to more than 37% of the Satellite TV Market in India.
The company operates through multiple brand identities to serve different market segments. DTVIL provides direct-to-home (DTH) entertainment service through its DTH brands – DishTV, d2h, and Zing Super. This multi-brand approach allows the company to cater to diverse customer preferences and market segments across urban and rural India.
The company has faced significant financial challenges in recent quarters, with revenue declining across multiple reporting periods.
• Market Capitalization: ₹1,048 Crore (down -62.4% in 1 year) as of recent market data.
• Promoter Holding: 4.04% (as of Mar 2025).
• Q4 FY25 Performance (March 2025):
_ Revenue: ₹343.66 Crore
_ Net Profit: ₹-402.19 Crore \* Dish TV India reported a consolidated net loss of Rs 402.19 crore for the March 2025 quarter, with a 15.56% decline in sales. The standalone net sales also fell by 30.44% year-on-year, indicating ongoing financial struggles.
• Q3 FY25 Performance (December 2024):
_ Revenue: ₹382.01 Crore (fell -19.51% since last year same period)
_ Net Profit: ₹-46.54 Crore (fell -1544.52% since last year same period)
• Annual Performance FY25:
_ Net Loss: ₹-487.66 Crore (against ₹-1966.57 Crore in FY22-24)
_ Sales: ₹1567.60 Crore (declined 15.56% against ₹1856.53 Crore in FY22-24)
• Leadership Change: On 3 July 2025, Dish TV appointed Gaurav Goel as Chief Strategy Officer, effective July 4, 2025; Rajeev Dalmia ceased SMP role. This leadership change reflects the company's ongoing efforts to strengthen its strategic direction during challenging market conditions.
• Regulatory Challenges: Dish TV India Ltd reported receiving a directive from the ministry to pay Rs 6,735 crore in licence fees, including interest, for its DTH licence through FY24. This substantial liability represents a significant financial burden that the company will need to address.
Dish TV continues to invest in technological advancement and content innovation.
• Dish Smart+ for Android TVs: India, 19 May 2025: In its mission to offer the best entertainment experience to customers, Dish TV launched the all-new Smart+ experience for Android TVs, following the successful launch of its flagship product last year.
• Content Innovation: The company conducted the First Ever – CONTENT INDIA, 2025 SUMMIT in April 2025. Following this, Dish TV revolutionized the OTT Space by launching a groundbreaking exclusive digital content segment – "FLIQS" in its WATCHO APP.
The company has delivered a poor sales growth of -15.1% over the past five years. Revenue is down for the last 4 quarters, from ₹461.0 Crore to ₹350.35 Crore, with an average decrease of 8.7% per quarter.
Despite current financial challenges, Dish TV remains a significant player in India's DTH market with its extensive distribution network and diverse service offerings. The company's focus on technological innovation, content diversification, and strategic partnerships positions it to navigate the evolving media landscape, though investors should carefully consider the ongoing financial pressures and market dynamics affecting the DTH industry in India.
