Chennai Super Kings Unlisted Shares

Overview of Chennai Super Kings

The Chennai Super Kings (CSK) is a franchise cricket team based in Chennai, Tamilnadu which plays in the Indian Premier League (IPL).

Founded in 2008, the team plays its home matches at the M.A Chidambaram in Chennai. After serving a two-year suspension from the IPL starting July 2015 for the alleged involvement of their owners in the 2013 IPL betting case the Chennai Super Kings returned to the league in 2018, winning the championship in the comeback season, its third overall to tie Mumbai Indian for the record for most IPL title wins. The team is captained by Mahendra Singh Dhoni.

The brand value of the Super Kings in 2018 was estimated at $65 million, making them the most valuable franchise in the IPL as per the Brand Finance Report.

One of the major boosts for IPL this year, as per the Brand Finance report, was not just television viewership which grew by 11%, but also the fact that over 200 million people watched the tournament on digital platforms such as Hotstar. “Cricket enthusiasts who did not get tickets to see the games live could watch the competition in specially designated Fan Parks in 36 cities across the country. Family-friendly and free to attend for all, Fan Parks offered music, entertainment, and a range of merchandise stalls, bringing stadium atmosphere to city centers on a scale larger than ever,” points out the Brand Finance report.

Demerger from India Cement

The India Cement on 26.09.2014 approved a demerger of Chennai Super Kings a BCCI-IPL Franchise 20/20 Cricket Tournament Team into a wholly-owned subsidiary by transferring its net assets at cost. So with effect from 01.01.2015, a new wholly-owned subsidiary will get incorporated. The shareholders of CSK will get one share of CSK for every one share of India Cement.

India Cements had transferred its holding of CSK to India Cements Shareholders Trust with October 9, 2015, as the date fixed for allotment of the shares. The shareholders of the company were allotted a share each for every India Cements shares they owned. However, since that time period, CSK, along with Rajasthan Royals had to serve a two-year suspension due to respective team principals Gurunath Meiyappan and Raj Kundra found to being involved in the suspicious betting activity.

Chennai Super Kings Unlisted Shares Details:

Total Available Shares:	Not Available
Face Value:	₹ 0.1 Per Equity Share
ISIN:	INE852S01026
Lot Size:	500 Shares
Current Unlisted Share Price:	₹ Best in industry Per Equity Share

Shareholding Pattern:

Shareholder’s Name	No. of Shares	% of total Shares of the company
Trustees, India Cements	95079183	30.86%
Life Insurance Corporation	18609745	6.04%
Sri Saradha Logistics Private limited	7525976	5.69%
Reliance Capital Trustee	7729231	2.51%
Radhakishan S Damani	7369263	2.39%
The Boston Company	5186784	1.68%

Financials of Chennai Super Kings Unlisted Shares:

(Figures in Cr)

Year	Revenue	EBITDA	PAT	EBITDA Margins	Profit Margins	Shares	EPS
FY18	4.07	0.23	-51.49	6%	NA	30.815	-1.67
FY19	417.83	163	111.2	39%	27%	30.815	3.61

Year	Equity	FV	Net-Worth	Debt	D/E
FY18	3.0815	0.1	14.31	65	4.54
FY19	3.0815	0.1	125.51	65	0.52

Revenue Break up
Particulars(cr)	2018-19
Income from Grant of Central Rights	294
Sponsorship Income	54
Gate Collection	20.97
Franchisee Income - Others	40.52
Income from Sale of Merchandise	0.43
Interest on Fixed Deposit with Bank	7.26

Major Expense Break up
Particulars(cr)	2018-19
Players fees	113.48
Support Staff fees	11.4
Players Expenses	2.25
Support Staff Expenses	1.15
Franchisee Fee	68
Tournament expenditure	16.79

UZ Review 1. In the year 2018-19, the Sponsorship rights, Central Rights, and Gate collection revenue have shot up which has increased the revenue multi-folds. In 2017, the Chennai Super Kings didn't participate in the IPL due to corruption issue that is why the revenue of 2018-19 can't be compared with 2017-18. 2. The company has clocked a profit of 111.2 cr in FY18-19. 3. The paid-up capital is 3.0815 Cr, as on 31.03.2019. 4. The company has clocked an EPS of 3.61 in FY18-19. Currently, the stock is trading at P/E multiple of 7x. 5. Mcap of Chennai Super King at Unlisted Market rate of Rs. 26 is 801 Cr. In 2014, the Chennai Super Kings sold to India cement at ~600 Cr Valuation. 6. The company has some key investors and the same is available in the shareholding pattern as mentioned above. Outlook of IPL a) IPL witnessed a major milestone on September 4th, 2017, with Star TV winning the media rights for (2018-2022) five-year period, for staggering Rs 16,347.50 crore. By virtue of these rights, revenue share of franchises over the next 5-year period will be 50% of the above amount after deducting the production expenses incurred during the season. b) The league also signed a major title deal with VIVO for Rs, 2199 crore for the same period. ( 2018-2022) c) Combination of sponsorship and media rights ensure, your franchise will receive over Rs 1000 crore in the form of central revenue over the next five years from the BCCI-IPL. d) However, the Franchisees have to share 20% of the income with BCCI. Valuation of CSK On May 2018, the JSW Group has bought 50% Stakes in Delhi Daredevils wherein they have bought close to 5,87,588 number of shares at Rs. 550 Cr. The Delhi Daredevils valued at 1100 Cr during a deal JSW Group on May 2018. The EBITDA of Delhi daredevil for FY17-18 was 25 Cr which translate into EBITDA Multiple of 44x. The EBITDA of FY18-19 is 96 Cr, even if we give a reasonable EBITDA Multiple of 15x to Delhi-Daredevil, the Valuation comes out at ~1500 Cr. The CSK has clocked an EBITDA of 163 Cr. If we give the valuation of ~1500 Cr to CSK the fair value per share would be close to ~Rs. 50. Chennai Super King Annual Report 2018-19

Discussion on Chennai Super Kings Unlisted Shares:

Delhi daredevil Results.

https://www.delhicapitals.in/static-assets/images/cssimages/pdf/Results%20Page_BSE_March_31.03.2019.pdf

On May 2018, the JSW Group has bought 50% Stakes in Delhi Daredevils wherein they have bought close to 5,87,588 number of shares at Rs. 550 Cr. The Delhi Daredevils valued at 1100 Cr during a deal JSW Group on May 2018. The EBITDA of Delhi daredevil for FY17-18 was 25 Cr which translate into EBITDA Multiple of 44x. The EBITDA of FY18-19 is 96 Cr, even if we give a reasonable EBITDA Multiple of 15x to Delhi-Daredevil, the Valuation comes out at ~1500 Cr.

The CSK has clocked an EBITDA of 163 Cr. If we give the valuation of ~1500 Cr to CSK the fair value per share would be close to ~Rs. 50.

I am interested to pick up 10000 shares. Any sellers. Pls contact me

Review on CSK Shares – https://youtu.be/57GyeK8y4bY

Brand Value of IPL Report

https://unlistedzone.com/indian-premier-leagues-brand-valued-at-6-8-billion-in-2019-19-09-2019/

I have 500 shares of csk and willing to sell at Rs.40. Any one interested let me know

I am interested in buying 1 lot of shares

How much quantity do you want to buy? Please drop an email at sales@unlistedzone.com or watsapp at 08010009625. Our team will guide you with all the formalities.

I m interested to buy this shares….

Please contact Dinesh Gupta at 08010009625

HI dinesh,

I wish to sell 5000 quantity of CSK @34.50. Interested

-Arjun

What is the best price you can give?

35 per share.

I am interested to buy at 32

Sir, at present we are offering a price of 35.

Hi I am a directly a retail buyer

Hi would like to buy 1000 shares, what is the procedure?

Please find below the procedure to get unlisted shares on our platform.

https://unlistedzone.com/procedure-to-buy-and-sell-unlisted-shares-with-unlistedzone

hi sir if want buy CSK shares contact UnlistedZone.com

r u buy CSK unlisted share

Need to buy some 20000 to 25000 Qty.. Do you have any inventory??

want buy CSK shares Contact me

I HAVE 654 CSK AND WANT TO SELL OUT

hi what is rate per share ???

The way Cricket is loved in India, I think one should definitely look to pounce on Chennai Super King Shares available at a good valuation. The craze of IPL is getting bigger and bigger as the league is getting old. The way Delhi Daredevils have performed in terms of Revenue this season the future of the sports league is looking very bright. The Revenue was almost tripled in the first 6 months of the year as compared to last year.

Source of Income of IPL Franchise

1. Central Right
2. Sponsorship Fees
3. Sale of Tickets
4. Coaching fees.

Delhi Daredevil FY Performance:

2014-15
Revenue= 117 Cr
PAT= -20 Cr
EPS= -210

2015-16
Revenue= 137 Cr
PAT= -6.1 Cr
EPS= -68

2016-17
Revenue= 132 Cr
PAT= -9 Cr
EPS= -96.93

2017-18
Revenue= 136 Cr
PAT= 1.9 Cr
EPS= 19.88

6MFY18-19
Revenue= 316 Cr
PAT= 69 Cr
EPS= 605

On May 2018, the JSW Group has bought 50% Stakes in Delhi Daredevils wherein they have bought close to 5,87,588 number of shares at Rs. 550 Cr. The Value of one share 9360. With an EPS of 605, the P/E of Delhi Daredevils is 15.47.

The Delhi Daredevils valued at 1100 Cr during a deal Kings,W Group in May 2018.

Please note that Face Value of Chennai Super Kings Cricket Ltd is Re 0.10 (10 paise) and not Rs. 10

Interesting parallels can be drawn from Delhi Daredevils now Delhi Capitals on the value and earning visibility. They have published 3 years annual accounts and half yearly statements for period ending Sept 30th 2018.

The financial statement of this IPL team can give some visibility on how the earnings are made and what would be the likely valuations given the fact that Chennai Super Kings is much better team compared to all other teams in the IPL, in my view it should enjoy better valuations. This is my personal view.

Thanks for the view. I will take Delhi Daredevils as a peer company to do a comparison.

1. Many investors who got CSK shares last month were seen selling them off-market. Savvy investors are interested in buying CSK share.

2. There is a good demand for CSK shares in off-market as it’s currently trading at a discount to its brand as per market experts.

3. According to an Economic Times report, investors are lapping up shares the CSK-ownership entity Chennai Super Kings Cricket in off-market transactions.