| Market Cap (cr): | 7391 | Book Value: | 13.92 |
|---|---|---|---|
| Lot Size: | 100 | 52 Week High: | 310 |
| 52 Week Low: | 100 | EPS: | |
| Demat Account: | PB: | 13.94 | |
| Face Value: | 0.1 | Debt To Equity: | 0 |
| No Of Shares: | 379425004 | Url: | https://www.chennaisuperkings.com |
Overview :
Key Takeaways
- Chennai Super Kings Cricket Limited (CSK) is the only sports team in India whose shares are available to the general public — a genuinely unique asset in Indian markets.
- Recent price range: ₹245–₹275 per share, with a lot size of 100 shares.
- The revenue engine is media rights: FY25 reflected approximately ₹493 crore in media rights income — the central BCCI pool distributed equally among franchises, making it predictable and contractually secured.
- CSK pays dividends — unusual and valuable among unlisted shares.
- The price history is instructive: ₹65/share (₹2,000 Cr m-cap) in January 2021 → ₹130 (₹4,000 Cr) after the fourth IPL title → ₹213–235 (₹7,240 Cr m-cap) in October 2021, at which point CSK's market capitalisation surpassed its parent India Cements.
Company Overview & Fundamentals
| Parameter | Details |
| Company Name | Chennai Super Kings Cricket Limited |
| Parent | India Cements (arm of) |
| Distinction | The only sports team in India whose shares are available to the general public |
| Recent Price Range | ₹245 – ₹275 |
| Lot Size | 100 shares |
| FY25 Media Rights | ~₹493 crore |
| Dividend | Paid |
| IPL Titles | Multiple — one of the league's most successful franchises |
The Valuation History — Read This Carefully
CSK's unlisted share price history is one of the most dramatic in the Indian OTC market:
| Period | Price | Market Cap |
| January 2021 | ₹65 | ₹2,000 crore |
| Early October 2021 (after 4th IPL title) | ₹130 | ₹4,000 crore |
| Late October 2021 | ₹213–235 | ₹7,240 crore |
| February 2022 | ₹180–190 (after touching ₹210) | Corrected ~10% on supply |
| Recent | ₹245–275 | — |
What drove the October 2021 surge: the RP-Sanjiv Goenka Group bagged the Lucknow team for ₹7,090 crore and CVC Capital Partners won Ahmedabad with a ₹5,625-crore bid — much higher than the ₹10,000 crore the BCCI was expecting from the two teams combined.
The logic that followed was straightforward, as one analyst put it: if a new team like Lucknow is being formed at a valuation of ₹7,090 crore, then a franchise that has been a winner and has the presence of M S Dhoni cannot have a valuation of less than ₹10,000–15,000 crore.
At ₹7,240 crore market capitalisation, CSK surpassed its parent India Cements, whose market cap stood at ₹6,145 crore at the time.
The February 2022 correction is equally instructive: shares fell to ₹180–190 from a high of ₹210 because "there is a lot of supply coming into the unlisted market" — including a mutual fund house inviting bids to sell 100,000 shares. Supply matters as much as sentiment in thin markets.
The Business Model — Why IPL Franchises Are Genuinely Attractive
| Revenue Stream | Characteristic |
| Central media rights pool | The largest and most predictable — BCCI distributes broadcast revenue equally among franchises under multi-year contracts |
| Sponsorship | Title, kit and associate sponsors — CSK's brand commands premium rates |
| Gate receipts | Home matches at Chepauk |
| Merchandise and licensing | The yellow jersey is among India's most recognised sporting brands |
| Prize money | Performance-linked |
Why the media rights structure is the key:
- Contractually secured for years ahead — franchises know their base revenue before a ball is bowled
- Distributed equally — a franchise's media income does not depend on winning
- Growing structurally — each IPL media rights cycle has sold for dramatically more than the last
- Costs are largely fixed — the player salary cap limits the largest expense line
This produces a rare combination: high, contractually-secured revenue with a capped principal cost. It is why IPL franchises have become genuinely profitable businesses rather than trophy assets.
The CSK Brand
CSK is among the IPL's most successful and beloved franchises, with a fanbase that extends well beyond Tamil Nadu. The M S Dhoni association has been central to the brand's national appeal — a factor analysts explicitly cited when arguing CSK's valuation should exceed that of newly-formed franchises.
Why Investors Buy CSK Unlisted Shares
- A genuinely unique asset — the only Indian sports team whose shares the general public can own
- Contractually secured media revenue — roughly ₹493 crore in FY25, distributed from the central BCCI pool
- Dividend-paying — rare among unlisted shares
- Franchise valuation benchmarks — new IPL teams sold for ₹7,090 crore (Lucknow) and ₹5,625 crore (Ahmedabad), providing external valuation reference points
- Capped cost structure — the player salary cap limits the largest expense
- Brand equity — one of India's most recognised sporting brands, with the Dhoni association
- Growing media rights cycles — each IPL rights auction has commanded dramatically higher values
- Accessible lot size — 100 shares makes entry manageable
- Emotional and portfolio diversification — uncorrelated with conventional equity sectors
Risks to Consider — Read Carefully
- Sentiment-driven pricing. CSK's price has moved from ₹65 to ₹235 and back to ₹180 within roughly a year. Performance results, player news and IPL auction headlines move this share far more than fundamentals.
- Supply pressure is real. The February 2022 correction happened because "a lot of supply coming into the unlisted market" — including a mutual fund selling 100,000 shares.
- Key-person dependence. Much of CSK's brand premium has been associated with M S Dhoni. Succession is a genuine long-term question.
- BCCI dependence. Revenue, rules, scheduling, salary caps and media rights structures are all determined by the BCCI, not the franchise.
- On-field performance risk — poor seasons affect sponsorship value, gate receipts and merchandise.
- Parent company situation. CSK is an arm of India Cements; changes at the parent level can affect the franchise's shareholding structure.
- Regulatory and governance history — the IPL has experienced past governance controversies affecting franchises.
- No IPO announced — assume OTC-only liquidity.
- Valuation is hard to anchor. Franchise sale prices are useful references, but CSK's own earnings must ultimately justify its market capitalisation.
How to Buy from Arms Securities
Call/WhatsApp +91-8882245112 → confirm price and lot (100 shares) → share CMR → pay via NEFT/RTGS → shares credited in 24–48 hours.
Selling CSK shares? We buy — call with your quantity.
FAQs
What is the current price of CSK unlisted shares?
Recent references place CSK in the ₹245–₹275 range with a lot size of 100 shares. Prices move with OTC demand, team performance and IPL news. Call +91-8882245112 for today's confirmed Arms Securities quote.
Can the general public really buy Chennai Super Kings shares?
Yes — CSK is the only sports team in India whose shares are available to the general public, trading in the unlisted OTC market. Shares are transferred to your demat account through off-market transfer.
How does CSK make money?
Primarily from the central BCCI media rights pool — approximately ₹493 crore in FY25 — distributed equally among franchises under multi-year contracts. Additional revenue comes from sponsorship, gate receipts at Chepauk, merchandise and licensing, and prize money.
Does CSK pay dividends?
Yes. CSK pays dividends to shareholders — an unusual and valuable feature among unlisted shares.
Why did CSK shares rise so sharply in 2021?
In October 2021, the RP-Sanjiv Goenka Group bagged the Lucknow team for ₹7,090 crore and CVC Capital Partners won Ahmedabad for ₹5,625 crore — far above the ₹10,000 crore BCCI expected from both. Analysts argued that if a new team could be valued at ₹7,090 crore, a proven winner with M S Dhoni's presence could not be worth less than ₹10,000–15,000 crore. CSK's price moved from ₹65 (₹2,000 crore m-cap) in January 2021 to ₹213–235 (₹7,240 crore m-cap) — at which point it surpassed parent India Cements, then at ₹6,145 crore.
Why did CSK shares correct in early 2022?
Shares fell to ₹180–190 from a high of ₹210 because a lot of supply came into the unlisted market — including a mutual fund house inviting bids to sell 100,000 shares. In thin markets, supply pressure moves prices as much as sentiment does.
What is the biggest risk in holding CSK shares?
Sentiment volatility. The price is driven heavily by team performance, player news and IPL headlines rather than steady fundamentals, and thin liquidity means large sell orders move the price sharply. Additionally, revenue and rules are determined by the BCCI, and much of the brand premium has been associated with M S Dhoni.
Also Read: Bharat Hotels Unlisted Shares | Mohan Meakin Unlisted Shares
+91-8882245112 | contact@armssecurities.com
Balance Sheet of Chennai Super Kings (CSK) Unlisted Shares
in ₹ Cr.
| category | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Equity | 776.01 | 595.09 | 301.00 | 248.24 | 216.12 | 175.85 | 125.52 | 14.31 | 14.83 |
| Liabilities | 399.07 | 305.04 | 189.40 | 142.08 | 100.11 | 89.74 | 190.65 | 175.78 | 1.61 |
| Total Equity and Liabilities | 1175.08 | 900.14 | 490.40 | 390.32 | 316.22 | 265.60 | 316.17 | 190.09 | 16.43 |
| Net Fixed Assets | 265.27 | 203.94 | 139.13 | 135.80 | 144.78 | 143.25 | 3.51 | 0.00 | 0.00 |
| Capital Work-in-progress | 23.34 | 48.11 | 17.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Non current Assets | 470.58 | 127.85 | 70.67 | 47.26 | 22.17 | 21.00 | 126.47 | 0.56 | 0.00 |
| Current Assets | 704.50 | 520.24 | 263.58 | 207.26 | 149.28 | 101.35 | 186.18 | 189.54 | 16.43 |
| Total Assets | 1175.08 | 900.14 | 490.39 | 390.32 | 316.22 | 265.60 | 316.17 | 190.09 | 16.43 |
Profit and Loss of Chennai Super Kings (CSK) Unlisted Shares
in ₹ Cr.
| category | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Net Revenue | 615.41 | 650.55 | 273.15 | 341.05 | 247.83 | 350.27 | 410.57 | 2.85 | 2.95 |
| Total Operating Cost | 391.90 | 359.69 | 208.12 | 299.72 | 185.90 | 282.27 | 254.09 | 3.85 | 4.38 |
| Operating Profit (EBITDA) | 223.51 | 290.85 | 65.03 | 41.33 | 61.93 | 68.00 | 156.48 | -1.01 | -1.43 |
| Other Income | 28.59 | 25.86 | 19.19 | 8.09 | 5.86 | 6.27 | 7.27 | 1.23 | 0.43 |
| Depreciation and Amortization Expense | 7.59 | 2.76 | 3.63 | 2.40 | 3.34 | 1.64 | 1.19 | 0.00 | 0.00 |
| Profit Before Interest and Taxes | 244.51 | 313.95 | 80.59 | 47.02 | 64.46 | 72.63 | 162.55 | 0.22 | -1.00 |
| Finance Costs | 1.51 | 7.24 | 10.05 | 5.67 | 5.26 | 5.37 | 5.68 | 1.29 | 0.00 |
| Profit Before Tax and Exceptional Items Before Tax | 243.00 | 306.71 | 70.54 | 41.35 | 59.20 | 67.25 | 156.87 | -1.07 | -1.00 |
| Profit Before Tax | 243.00 | 306.71 | 70.54 | 41.35 | 59.20 | 67.25 | 156.87 | -1.07 | -1.00 |
| Income Tax | 62.06 | 77.60 | 18.35 | 9.21 | 18.94 | 16.91 | 45.67 | -0.56 | 0.00 |
| Profit for the Period from Continuing Operations | 180.94 | 229.11 | 52.19 | 32.14 | 40.26 | 50.34 | 111.20 | -0.51 | -1.00 |
| Profit for the Period | 180.94 | 229.11 | 52.19 | 32.14 | 40.26 | 50.34 | 111.20 | -0.51 | -1.00 |
Net Sales (in cr.)
Total Income (in cr.)
Operating Profit (in cr.)
Net Profit (in cr.)
Shareholder Funds (in cr.)
Total Assets (in cr.)
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