On consolidated basis
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating income) of D B Corp has increased 62.39%
to Rs 494.1 crore. Sales of Printing, Publishing and allied business
segment has gone up 60.10% to Rs 462.42 crore (accounting for 93.56% of total
sales). Sales of Radio segment has gone up 105.73% to Rs 31.85 crore
(accounting for 6.44% of total sales). Inter-segment sales rose Rs
0.06 crore to Rs 0.17 crore.
PBIT of Printing, Publishing and
allied business reported profit of Rs 38.23 crore compared to loss of Rs 17.26
crore. PBIT of Radio reported profit of Rs 5.47 crore compared to
loss of Rs 4.19 crore.
PBIT margin of Printing, Publishing
and allied business segment rose from negative 5.98% to 8.27%. PBIT
margin of Radio segment rose from negative 27.06% to 17.19%. Overall
PBIT margin rose from 7.05% to 8.84%.
Operating profit margin has jumped
from 0.46% to 13.67%, leading to 4,690.78% rise in operating profit to Rs 67.55
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 36.00% to 40.76%. Employee cost
decreased from 28.96% to 18.66%. Other expenses fell from 34.58% to
26.89%.
Other income rose 67.20% to Rs 6.22
crore. PBIDT rose 1,338.01% to Rs 73.77 crore. Provision
for interest fell 9.60% to Rs 4.99 crore.
PBDT stood at Rs 68.78 crore
compared to loss of Rs 0.39 crore. Provision for depreciation fell
4.03% to Rs 26.7 crore.
Profit before tax reported profit of
Rs 42.08 crore compared to loss of Rs 28.21 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
debit of Rs 11.08 crore, compared to credit of Rs 5.96
crore. Effective tax rate was 26.33% compared to 21.13%.
Minority interest was nil in both
the periods.
Promoters’ stake was 70.97% as of 30
June 2022 ,compared to 71.81% as of 30 June 2021 .
Full year results analysis.
Net sales (including other operating income) of D B Corp has increased 17.30%
to Rs 1768.54 crore. Sales of Printing, Publishing and allied
business segment has gone up 16.26% to Rs 1,657.66 crore (accounting for 93.69%
of total sales). Sales of Radio segment has gone up 35.35% to Rs
111.58 crore (accounting for 6.31% of total sales). Inter-segment
sales rose Rs 0.55 crore to Rs 0.70 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 1.57% to Rs 209.67
crore. PBIT of Printing, Publishing and allied business segment fell
5.63% to Rs 194.05 crore (accounting for 92.55% of total PBIT). PBIT
of Radio segment rose 1,828.52% to Rs 15.62 crore (accounting for 7.45% of
total PBIT).
PBIT margin of Printing, Publishing
and allied business segment fell from 14.42% to 11.71%. PBIT margin
of Radio segment rose from 0.98% to 14.00%. Overall PBIT margin fell
from 13.69% to 11.85%.
Operating profit margin has declined
from 20.21% to 17.12%, leading to 0.65% decline in operating profit to Rs
302.80 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 27.95% to 31.33%. Employee cost
decreased from 25.17% to 21.20%. Other expenses rose from 26.66% to
30.37%.
Other income rose 38.03% to Rs 20
crore. PBIDT rose 1.11% to Rs 322.8 crore. Provision for
interest fell 25.17% to Rs 18.19 crore. Loan funds declined from Rs
247.63 crore as of 31 March 2021 to Rs 198.94 crore as of 31 March
2022. Inventories declined from Rs 233.48 crore as of 31 March 2021
to Rs 215.13 crore as of 31 March 2022. Sundry debtors were lower at
Rs 478.95 crore as of 31 March 2022 compared to Rs 496.90 crore as of 31 March
2021. Cash and bank balance rose to Rs 517.02 crore as of 31 March
2022 from Rs 312.21 crore as of 31 March 2021. Investments declined
from Rs 14.33 crore as of 31 March 2021 to Rs 13.82 crore as of 31 March
2022.
PBDT rose 3.28% to Rs 304.61
crore. Provision for depreciation fell 4.29% to Rs 109.96
crore. Fixed assets declined from Rs 1,200.59 crore as of 31 March
2021 to Rs 1,079.95 crore as of 31 March 2022. Intangible assets increased
from Rs 1.91 crore to Rs 74.15 crore.
Profit before tax grew 8.10% to Rs
194.65 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 52.09 crore, compared
to Rs 51.83 crore. Effective tax rate was 26.76% compared to 26.82%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 0.81% to Rs 142.56 crore.
Equity capital increased from Rs
174.96 crore as of 31 March 2021 to Rs 177.06 crore as of 31 March 2022. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 71.00% as of 31
March 2022 ,compared to 71.81% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 370.63 crore for year ended March 2022 from Rs 374.10 crore for
year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 30.47 crore, compared to Rs 67.02
crore during the year ended March 2021.
Others:
Dividend:
Board has declared interim dividend of Rs 3/- per equity share of face value Rs
Rs 10/- each for FY2023.
Based on
the recommendation of the Nomination and Remuneration committee, the Board of Directors
has re-appointed Mr Pawan Agarwal as the
Deputy Managing Director of the Company for another term of 5 years.
Management
Commentary
Commenting
on the performance of the company Mr Sudhir Agarwal said: " Our industry
has always been the most resilient in the face of challenges. While several
experts were writing off print media in the wake of the digital revolution, we
at Dainik Bhaskar, continued our focus on delivering high quality and trustworthy
content to our loyal readers. Not only have we moved to a strong leadership
position in both physical and digital, but we are also benefiting from an
industry level shift where advertisers are moving back to print in a
significant way. this strategy has helped us deliver strong financial results for
the Q1FY2023.
The
editorial team at Dainik Bhaskar has established a strong mechanism to
understand the pulse of its readers and deliver content that is honest,
relevant, and useful. With our strong on-ground presence, we have established
ourselves as the #1 Indian Language omni-channel news delivery platform. Our
circulation strategy has enabled us to scale up to the pre Covid-19 peak.
We
continue our focus towards strengthening our financial position by remaining
committed to our cost saving measures, especially important in light of high
newsprint prices, which we expect will stabilize in the forthcoming quarters.
We commence this new financial year witha sense of strong optimism."
| D B Corp : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 494.10 | 304.26 | 62.39 | 1,768.54 | 1,507.70 | 17.30 | | OPM (%) | 13.67 | 0.46 | 1,321 bps | 17.12 | 20.21 | -309 bps | | OP | 67.55 | 1.41 | 4,690.78 | 302.80 | 304.77 | -0.65 | | Other Inc. | 6.22 | 3.72 | 67.20 | 20.00 | 14.49 | 38.03 | | PBIDT | 73.77 | 5.13 | 1,338.01 | 322.80 | 319.26 | 1.11 | | Interest | 4.99 | 5.52 | -9.60 | 18.19 | 24.31 | -25.17 | | PBDT | 68.78 | -0.39 | LP | 304.61 | 294.95 | 3.28 | | Depreciation | 26.7 | 27.82 | -4.03 | 109.96 | 114.89 | -4.29 | | PBT | 42.08 | -28.21 | LP | 194.65 | 180.06 | 8.10 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 42.08 | -28.21 | LP | 194.65 | 180.06 | 8.10 | | EO Income | 0 | 0 | - | 0 | 13.19 | - | | PBT after EO | 42.08 | -28.21 | LP | 194.65 | 193.25 | 0.72 | | Taxation | 11.08 | -5.96 | PL | 52.09 | 51.83 | 0.50 | | PAT | 31 | -22.25 | LP | 142.56 | 141.42 | 0.81 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 31 | -22.25 | LP | 142.56 | 141.42 | 0.81 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 31 | -22.25 | LP | 142.56 | 141.42 | 0.81 | | EPS (Rs)* | 1.75 | -1.26 | LP | 8.05 | 7.44 | 8.20 | | | * EPS is on current equity of Rs 177.12 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| D B Corp : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Printing, Publishing and allied business | 93.56 | 462.42 | 288.84 | 60.10 | 93.69 | 1,657.66 | 1,425.81 | 16.26 | | Radio | 6.44 | 31.85 | 15.48 | 105.73 | 6.31 | 111.58 | 82.44 | 35.35 | | Total Reported Sales | 100.00 | 494.27 | 304.32 | 62.42 | 100.00 | 1,769.24 | 1,508.25 | 17.30 | | Less: Inter segment revenues | | 0.17 | 0.06 | 171.43 | | 0.70 | 0.55 | 27.04 | | Net Sales | 100.00 | 494.10 | 304.26 | 62.39 | 100.00 | 1,768.54 | 1,507.70 | 17.30 | | PBIT | | Printing, Publishing and allied business | 87.47 | 38.23 | -17.26 | LP | 92.55 | 194.05 | 205.63 | -5.63 | | Radio | 12.53 | 5.47 | -4.19 | LP | 7.45 | 15.62 | 0.81 | 1,828.52 | | Total PBIT | 100.00 | 43.70 | -21.45 | LP | 100.00 | 209.67 | 206.44 | 1.57 | | Less : Interest | | 4.99 | 5.52 | -9.51 | | 18.19 | 24.31 | -25.19 | | Add: Other un-allcoable | | 3.37 | -1.24 | LP | | 3.17 | 11.12 | -71.50 | | PBIT Margin(%) | | Printing, Publishing and allied business | | 8.27 | -5.98 | 1,424.42 | | 11.71 | 14.42 | -271.55 | | Radio | | 17.19 | -27.06 | 4,424.71 | | 14.00 | 0.98 | 1,301.69 | | PBT | 100.00 | 42.08 | -28.21 | LP | 100.00 | 194.65 | 193.25 | 0.73 |
|
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