Chennai Super Kings, one of the most successful IPL teams and only unlisted franchise, has released the financial results for the fiscal year 2023. Like the previous IPL season, CSK also won investors’ hearts regarding business growth. The parent company of CSK, Chennai Super Kings Cricket Limited(CSKCL), posted profits in which the company recorded a growth of 63% compared to the fiscal year 2022.
From the investor’s point of view, the financial results of CSK for the recent years look impressive despite the dip in its operating revenue. If you are an investor looking to buy CSK unlisted shares, this blog will give a detailed overview of the company’s financial performance in FY23. In addition, we will also discuss Chennai Super Kings share price and other metrics that might benefit you.
Impressive On & Off-Field Of CSK In 2023
If you are a cricket fan interested in the Indian Premier League(IPL), you might be well aware of Chennai Super Kings. A team led by former Indian cricket team captain Mahendra Singh Dhoni won the last season of IPL by defeating Gujarat Titans in a nail-biting finish.
In addition, CSK also bought franchise teams, including Joburg Super Kings and Texas Super Kings, under its wholly-owned subsidiary. The global expansion plan also helped the company grow in the grey market, reflected in Chennai Super Kings share price.
In the last season, CSK equalled the record of Mumbai Indians for winning the most IPL seasons. Throughout the season, the CSK share price also remains high, which brings retail investors a good return on investment. Whether it’s on-field or off-field, Chennai Super Kings proved to be a profitable company for its investors.
An Overview Of CSK Financial Performance In FY2023
The report released by the CSKCL for the fiscal year 2023 mentions that CSK profit for the last fiscal year increased substantially by 63% compared to its last fiscal year. However, the company recorded a dip in its total revenue, which decreased from Rs 349 crore in FY22 to Rs 292 crore in FY23.
The total revenue of CSK comprises of revenue generated from operations and other avenues. Out of Rs 292 crore, CSK generated Rs 273 crore from its operations and the rest Rs 13 crore from its different avenues. In addition, the company also saw an increase in other sources of income, which includes Rs 192 crore from the central rights and Rs 78 crore from sponsorships.
Apart from this, the tax reported by the company in the last fiscal year increased from Rs 32 crore to Rs 52 crore. The negative aspect for the CSK is its income from the IPL 2023 season, which also decreased from Rs 34 crore to Rs 4 crore. However, the positive thing for the company is that it won the IPL tournament and received a winning amount.
Since the profit of CSK increased by 63% in FY23, which is considered a good margin, it gives a positive sign for the investors. The growth of the company financially also affects CSK share price in the grey market. As per price trend, Chennai Super Kings’ share price increased positively in the last few months. The current unlisted share price of CSK is Rs 182 per equity share.
Why Chennai Super Kings Is Every Investor’s Delight?
The demand for the CSK pre-IPO shares surged in the last few years due to its consistent good performances. Seasonal investors showed a high interest in buying CSK unlisted shares, affecting its availability in the grey market. There are various reasons why CSK has become every investor’s delight.
Consistent Business Growth
Chennai Super Kings has consistently performed well since its inception. Being an IPL franchise, CSK only missed two seasons and created a record in qualifying for the playoffs and finals maximum times. It also reflects on its brand value, which rapidly increased in the last five years. As per Forbes, the current valuation of CSK is $1.15 billion.
Diverse Revenue Model
CSK has a diverse revenue model, which is also profitable. The company doesn’t rely on the IPL tournament fee for its operating revenue. Its revenue comes from different sources, which includes merchandise sale, ticket sale, and sponsorships. That’s why CSK is able to generate a high profit in almost every IPL season.
High CSK Share Price
During every IPL season the demand for the CSK unlisted shares remains high. Over the last 5 years, the Chennai Super Kings share price increased from Rs 95 to Rs 182 per share, which gives seasonal and retail investors high returns. Since it is the only IPL franchise that provides unlisted shares for trading, CSK remains every investor’s favourite.
Earn High Returns By Investing In Chennai Super Kings
The financial performance of CSK in the last fiscal year remains positive, making it a profitable company for investment. You can plan your investment in CSK pre-IPO shares using online trading platforms like Stockify. The experts on this platform can provide you with the right guidance along with access to updated CSK share prices. Plan your investment today!