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DB Corp Ltd. is India's largest print media company that publishes 5 newspapers with Dainik Bhaskar 46 editions, Divya Bhaskar 9 editions & Divya Marathi 6 editions with 220 sub-editions in 3 multiple languages (Hindi, Gujarati and Marathi) across 12 states in India.
Its flagship newspapers Dainik Bhaskar (in Hindi) established in 1958, Divya Bhaskar and Saurashtra Samachar (in Gujarati) have a combined average daily readership of 19.8 million, making us one of the most widely read newspaper groups in India with presence in Madhya Pradesh, Chhattisgarh, Rajasthan, Haryana, Punjab, Chandigarh, Himachal Pradesh, Delhi, Gujarat, Maharashtra, Bihar and Jharkhand.
Quarter results
D.B. Corp registered a 5% rise in consolidated sales to Rs 588.52 crore for the quarter ended March 2019.
Advertising Revenues reported growth of 7% YOY to Rs 413.0 crore.
Circulation Revenue increased 2% YoY to Rs 127.30 crore.
OPM rose 20 bps to 17.7% which saw OP rise 6% to Rs 104.16 crore.
Other income fell 65% to Rs 2.52 crore and interest cost fell 8% to Rs 1.83 crore. After providing for depreciation (Rs 24.32 crore against Rs 24.26 crore), PBT grew 2% to Rs 80.54 crore. Provision for taxation was up 20% to Rs 26.08 crore after which PAT fell 5% to Rs 54.46 crore.
FY 2019 results
In FY 2019, it registered a 7% rise in consolidated sales to Rs 2462.70 crore.
Nine months Advertising Revenues grew 7.4% to Rs 1762.5 crore.
Circulation Revenue increased 5.1% to Rs 523.70 crore primarily volume driven.
OPM fell 390 bps to 20.5% which saw OP fall 11% to Rs 504.23 crore.
Other income fell 30% to Rs 16.65 crore and interest cost grew 27% to Rs 8.50 crore. After providing for depreciation (up 7% to Rs 98.63 crore), PBT fell 15% to Rs 413.74 crore. Provision for taxation was down 15% to Rs 139.90 crore after which PAT fell 15% to Rs 273.84 crore.
Segment results
For the quarter, sales of from the Printing and publishing of newspaper and periodicals Division grew 6% to Rs 537.67 crore and accounted for 91% of total. PBIT from the same grew 4% to Rs 78.65 crore and accounted for 91% of total.
In FY 2019, sales of from the Printing and publishing of newspaper and periodicals Division grew 6% to Rs 2243.85 crore and accounted for 91% of total. PBIT from the same fell 21% to Rs 378.99 crore and accounted for 90% of total.
For the quarter, sales of from the Radio Division grew 8% to Rs 38.78 crore and accounted for 7% of total. PBIT grew 16% to Rs 10.06 crore and accounted for 12% of total.
In FY 2019, sales of from the Radio Division grew 14% to Rs 154.37 crore and accounted for 6% of total. PBIT from the same jumped 68% to Rs 40.03 crore and accounted for 10% of total.
For the quarter, sales of from the Event Division fell 22% to Rs 2.26 crore and accounted for 0% of total. PBIT from the same stood at Rs 11 lakh a loss of Rs 28 lakh and accounted for 0% of total.
In FY 2019, sales of from the Event Division fell 1% to Rs 16.80 crore and accounted for 1% of total. PBIT from the same grew 4% to Rs 5.57 crore and accounted for 1% of total.
For the quarter, sales of from the internet Division fell 24% to Rs 9.90 crore and accounted for 2% of total. PBIT loss from the same fell 55% to Rs 2.43 crore and accounted for -3% of total.
In FY 2019, sales of from the internet Division fell 7% to Rs 48.49 crore and accounted for 2% of total. PBIT loss from the same fell 83% to Rs 4.23 crore and accounted for -1% of total.
Valuation
The company declared an interim dividend of Rs 8 per share.
The stock trades at Rs 181.
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