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Chennai Super King (CSK)
unlisted shares
Current Price
₹248
Market Cap
₹9,789 Cr
Book Value
18.93
ISIN
INE852S01026
P/E Ratio
442.6
Lot Size
100
Trade
₹248
Stats
| Company | Chennai Super King (CSK) |
| Incorporation Date | December 19, 2014 |
| ISIN Number | INE852S01026 |
| PAN | AAFCC8730K |
| CIN | U74900TN2014PLC098517 |
| Corporate Office | Dhun Building, 827, Anna Salai, Chennai - 600 002 IN |
| Sector | Sports |
| Depository | CDSL & NSDL |
| Face Value | 0.1 |
| Book Value | 18.93 |
Finanical Year Report
| FY23 | FY24 | FY25 | FY25 | |
|---|---|---|---|---|
| Turnover | ₹27,315 Cr. | ₹69,545 Cr. | ₹67,380 Cr. | ₹67,380 Cr. |
| EBIDTA | 6502 | 26363 | 19137 | 19137 |
| PBT | 7053 | 27916 | 20951 | 20951 |
| PAT | 5218 | 20150 | 14832 | 14832 |
| EPS | 1.69 | 5.32 | 3.91 | 3.91 |
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Chennai Super King (CSK) Company Thesis
Chennai Super Kings (CSK) Overview Chennai Super Kings (CSK) is one of the most successful and valuable franchises in the Indian Premier League. Established in 2008 and owned by Chennai Super Kings Cricket Ltd, the team has built a strong brand driven by consistent performance and a loyal fan base. Led for many years by MS Dhoni, CSK has become a benchmark franchise in global T20 cricket.
Business Model CSK operates a franchise-based sports business model with multiple revenue streams: • Media Rights Revenue Share (central IPL pool) • Sponsorship & Brand Partnerships (jersey, title sponsors) • Matchday Revenue (tickets, hospitality) • Merchandising & Licensing • Digital & Fan Engagement Revenue A significant portion of revenues is centrally distributed from IPL broadcasting deals, ensuring strong baseline income.
Financial Profile & Valuation • High operating leverage with scalable revenues • Strong profitability compared to many global sports franchises • Asset-light model (franchise rights + brand-driven business) Valuation (Indicative): • Estimated range: ₹6,000–8,000 crore • Among the most valuable IPL franchises
Competitive Positioning • One of the most successful IPL teams (multiple titles) • Consistent playoff appearances and performance Key Competitors: • Mumbai Indians • Royal Challengers Bangalore Moat: • Strong brand equity and fan loyalty • Leadership stability (Dhoni-era consistency) • Proven team management and auction strategy • High sponsorship attractiveness
Growth Drivers • Increasing IPL media rights value (multi-year contracts) • Expansion of global T20 leagues ecosystem • Rising monetization through digital platforms • Growth in merchandising and fan engagement • Potential expansion of IPL (more matches/teams)
Key Risks • Dependence on IPL ecosystem and central revenues • Performance risk affecting brand and sponsorships • Transition risk post MS Dhoni era • Regulatory and governance risks in cricket administration • Limited diversification beyond IPL
Recent Developments • Continued strong brand positioning in IPL • Ongoing leadership transition planning beyond Dhoni • Increased focus on digital fan engagement • Benefiting from record IPL media rights cycle
Investment View / Outlook CSK represents a unique sports franchise asset combining strong brand equity, recurring revenue streams, and high fan loyalty. It benefits significantly from the structural growth of the IPL ecosystem. Key Monitorables: • Post-Dhoni transition and team performance • Growth in IPL media rights and revenue distribution • Sponsorship and brand monetization trends Overall, View: High-quality sports franchise with strong cash flow visibility and brand strength. Long-term upside is closely tied to IPL growth, though leadership transition remains a key near-term factor.