Financials: In FY24, the company's revenue increased from INR 306 Crore in FY23 to INR 696 Crore, representing a growth of 127%. Profit After Tax (PAT) has also increased from INR 14 Crore in FY23 to INR 206 Crore in FY24, demonstrating a growth of 1,362%
Global Expansion: The team has extended its presence internationally by joining cricket leagues in the USA and South Africa through wholly-owned subsidiaries.
Cricket's Rising Popularity: IPL Matches EPL in Brand Growth and Investor Confidence The rapid rise in cricket’s popularity is evident when comparing the Indian Premier League (IPL) with the soccer-dominated English Premier League (EPL). Remarkably, IPL teams like Chennai Super Kings (CSK) have achieved brand value growth rates comparable to major EPL teams like Manchester United. Manchester United's brand value surged from USD 1.895 billion in 2018 to USD 6.55 billion in 2024, reflecting a 23% CAGR, while CSK’s brand value grew from USD 65 million in 2018 to USD 231 million in 2024, achieving a 24% CAGR. This parallel in growth underscores cricket’s expanding global appeal. Moreover, investor confidence is highlighted by Manchester United’s share price three-year CAGR of 12.6% compared to CSK’s impressive 58%, indicating the robust investment interest in the cricket league.
Valuation: Based on the recent September 2024 acquisition bid by CVC Group, valuing Gujarat Titans at approximately INR 8,300 crore, the implied revenue multiple is ~10.6x and EBITDA multiple ~40.4x. Applying the adjusted valuation metrics (adjustments based on CSK's higher brand valuation), Chennai Super Kings' fair value is estimated to be around INR 300 per share.

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