GTPL Hathway Limited — Cyborg Score 6/10

Solid
Digital Cable Television & Broadband Services

Strategic Profile

The company is No.1 MSO in India and No.1 MSO in Gujarat, with 1 Mn+ Broadband subscribers. GTPL is driving growth through inorganic acquisitions, rural expansion, and value-added services like online payments, multi-platform access, and bundled offerings through "GTPL Buzz" and "GTPL Genie", which combines Digital Cable TV with OTT content.

Cyborg Score Rationale

Market leader in cable TV with strong broadband growth, but faced with cable TV subscriber pressures and declining market valuations. Market cap of $95.2M on trailing revenue of $422M reflects market concerns about legacy cable business facing secular headwinds.

Top Insights

  • Launched HITS Platform in Q3 FY26 to modernize operations
  • 9.60 million active STBs and 8.90 million paying subscribers offering 950+ channels including 95+ HD channels
  • Footprint in 1,500+ towns across 26 States and 4 Union Territories
  • Broadband subscriber growth offsetting cable TV slowdown in competitive market

Named Competitors

  • Digital Cable TV and Broadband — Major cable TV and broadband competitor
  • Broadband Internet — Regional broadband service provider
  • Broadband and Cable — Cable and broadband network operator

Recent Developments

  • (January 2026) Q3 FY26 results with consolidated revenue ₹9,382Mn and 1.06M broadband subscribers
  • (December 2024) Partnered with Radian Arc to offer GPUaaS services in India
  • (May 2025) OTTplay Premium partnership to transform India's digital entertainment

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