Sun TV shares: Shares of South India-based media player Sun TV Network Ltd tumbled as much as 11 per cent on a intra-day basis on Monday, May 04, as DMK (Dravida Munnetra Kazhagam) loses its grip in Tamil Nadu, with actor-turned-Politician Vijay's party Tamilaga Vettri Kazhagam (TVK) emerges as the single largest party in the southern state in its debut assembly election.

Shares of Sun TV Network Ltd cracked 10.75 per cent from day's high at Rs 614 to Rs 548.10 on Monday, with its market capitalization slipping below 21,500 crore. With this fall, Sun TV has wiped out all its gains of the last six months, while it is still able to hold a positive return in the last one month.

Sun TV Networks is largely owned by Kalanithi Maran, who is closely connected to the DMK family. His younger brother Dayanidhi Maran is a member of Parliament in DMK. His father, late Murasoli Maran was a former DMK union Minister. Kalanithi Maran is the grand nephew of former Tamil Nadu Chief Minister Karunanidhi.

Chennai headquartered Sun TV Network is one of India's largest media conglomerates, founded in 1993, operating more than 37 TV channels in seven languages with more than 69 plus radio stations, newspapers and OTT platform named SUNnxt. It also owns IPL team Sunrisers Hyderabad and SA T20 franchise Sunrisers Eastern Capes.

In the early trends at 11.00 am, India Today was showing a lead to TVK at more than 100 seats, followed by AIADMK with a lead of 80 seats. However, MK Stalin led DMK saw heavy anti-incumbency, struggling to hold its lead at 50 seats. This trend is entirely opposite to what exit polls were showing post elections.
 

Sun TV Q4 results preview

Sun TV Network has not announced its date for the quarterly results ending on March 31, 2026. However, Kotak Institutional Equities expects Sun's ad revenues to decline by 7.8 per cent YoY, while subscription revenue is expected to grow at 7.8 per cent YoY.

"We expect other operating revenue to decline 49 per cent YoY due to delayed start to IPL 2026, partly offset by higher prize money of SA20 league as Sunrisers Eastern Cape were winners. Ebitda margin of core business is expected to be at 36.9 per cent, down 425 bps yoy. Overall, we expect 11 per cent and 23 per cent YoY decline in EBIT and PBT," it adds.

Elara Capital is expecting Sun TV's revenue to come in at Rs 928.3 crore, up 12.1 per cent QoQ and 2.1 per cent YoY. Ebitda is seen at Rs 433 crore, up 5.7 per cent QoQ and 1.5 per cent QoQ, with ebitda margins coming at 46.7 per cent for the quarter. Net profit may come in at Rs 395.8 crore, up 23.4 per cent QoQ but down 9.2 per cent YoY.

On the other hand, B&K Securities expects Sun TV's revenue to come at Rs 912.1 crore in March 2026 quarter, down 3.2 per cent YoY and 5.8 per cent QoQ. Ebitda margins may crash to 29.7 per cent for the quarter. Net profit may come in at Rs 244.2 crore, down 42.7 per cent YoY and 25.8 per cent QoQ.
 

Sun TV target prices

Elara Capital has a 'buy' rating on Sun TV with a target price of Rs 700. Motilal Oswal has a 'neutral' rating on it with a target price of Rs 580. B&K Securities has a 'hold' rating on it. JM Financial has a 'buy' rating on it with a target price of Rs 635.