On consolidated basis
Quarter ended September 2022
compared with Quarter ended September 2021.
Net sales (including other operating income) of D B Corp has increased 20.50%
to Rs 538.4 crore. Sales of Printing, Publishing and allied business
segment has gone up 20.72% to Rs 505.14 crore (accounting for 93.78% of total
sales). Sales of Radio segment has gone up 16.84% to Rs 33.48 crore
(accounting for 6.22% of total sales). Inter-segment sales came down
from Rs 0.30 crore to Rs 0.22 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 16.47% to Rs 65.05
crore. PBIT of Printing, Publishing and allied business segment fell
20.08% to Rs 58.43 crore (accounting for 89.83% of total PBIT). PBIT
of Radio segment rose 38.93% to Rs 6.62 crore (accounting for 10.17% of total
PBIT).
PBIT margin of Printing, Publishing
and allied business segment fell from 17.47% to 11.57%. PBIT margin
of Radio segment rose from 16.62% to 19.77%. Overall PBIT margin
fell from 17.42% to 12.08%.
Operating profit margin has declined
from 22.60% to 16.73%, leading to 10.81% decline in operating profit to Rs
90.05 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 28.73% to 40.38%. Employee cost
decreased from 21.30% to 17.27%. Other expenses fell from 27.37% to
25.60%.
Other income rose 72.65% to Rs 7.7
crore. PBIDT fell 7.28% to Rs 97.75 crore. Provision for
interest rose 2.11% to Rs 4.85 crore. Loan funds declined from Rs
231.37 crore as of 30 September 2021 to Rs 202.08 crore as of 30 September
2022. Inventories rose to Rs 267.16 crore as of 30 September 2022
from Rs 240.60 crore as of 30 September 2021. Sundry debtors were
higher at Rs 527.47 crore as of 30 September 2022 compared to Rs 484.74 crore
as of 30 September 2021. Cash and bank balance declined from Rs
337.10 crore as of 30 September 2021 to Rs 203.81 crore as of 30 September
2022. Investments rose to Rs 40.41 crore as of 30 September 2022
from Rs 14.33 crore as of 30 September 2021 .
PBDT fell 7.72% to Rs 92.9
crore. Provision for depreciation rose 1.66% to Rs 28.09
crore. Fixed assets increased to Rs 1,114.03 crore as of 30
September 2022 from Rs 1,073.95 crore as of 30 September
2021. Intangible assets declined from Rs 78.62 crore to Rs 1.91
crore.
Profit before tax down 11.27% to Rs
64.81 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 16.03 crore, compared
to Rs 19.27 crore. Effective tax rate was 24.73% compared to 26.38%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 9.28% to Rs 48.78 crore.
Equity capital increased from Rs
174.97 crore as of 30 September 2021 to Rs 177.13 crore as of 30 September
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.97% as of 30
September 2022 ,compared to 71.81% as of 30 September 2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of D B Corp has increased 37.47%
to Rs 1032.49 crore. Sales of Printing, Publishing and allied
business segment has gone up 36.80% to Rs 967.56 crore (accounting for 93.68%
of total sales). Sales of Radio segment has gone up 48.02% to Rs
65.33 crore (accounting for 6.32% of total sales). Inter-segment
sales rose Rs 0.37 crore to Rs 0.39 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 92.74% to Rs 108.75
crore. PBIT of Printing, Publishing and allied business segment rose
73.07% to Rs 96.66 crore (accounting for 88.88% of total PBIT). PBIT
of Radio segment rose 2,010.12% to Rs 12.09 crore (accounting for 11.12% of
total PBIT).
PBIT margin of Printing, Publishing
and allied business segment rose from 7.90% to 9.99%. PBIT margin of
Radio segment rose from 1.30% to 18.51%. Overall PBIT margin rose
from 7.51% to 10.53%.
Operating profit margin has jumped
from 13.63% to 15.27%, leading to 53.95% rise in operating profit to Rs 157.61
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 31.67% to 40.56%. Employee cost
decreased from 24.41% to 17.94%. Other expenses fell from 30.29% to
26.21%.
Other income rose 70.17% to Rs 13.92
crore. PBIDT rose 55.15% to Rs 171.53 crore. Provision
for interest fell 4.09% to Rs 9.85 crore. Loan funds declined from
Rs 231.37 crore as of 30 September 2021 to Rs 202.08 crore as of 30 September 2022. Inventories
rose to Rs 267.16 crore as of 30 September 2022 from Rs 240.60 crore as of 30
September 2021. Sundry debtors were higher at Rs 527.47 crore as of
30 September 2022 compared to Rs 484.74 crore as of 30 September
2021. Cash and bank balance declined from Rs 337.10 crore as of 30
September 2021 to Rs 203.81 crore as of 30 September
2022. Investments rose to Rs 40.41 crore as of 30 September 2022
from Rs 14.33 crore as of 30 September 2021 .
PBDT rose 61.21% to Rs 161.68
crore. Provision for depreciation fell 1.21% to Rs 54.79
crore. Fixed assets increased to Rs 1,114.03 crore as of 30
September 2022 from Rs 1,073.95 crore as of 30 September
2021. Intangible assets declined from Rs 78.62 crore to Rs 1.91
crore.
Profit before tax grew 138.43% to Rs
106.89 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 27.11 crore, compared
to Rs 13.31 crore. Effective tax rate was 25.36% compared to 29.69%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 153.11% to Rs 79.78 crore.
Equity capital increased from Rs
174.97 crore as of 30 September 2021 to Rs 177.13 crore as of 30 September
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.97% as of 30
September 2022 ,compared to 71.81% as of 30 September 2021 .
Cash flow from operating activities
decreased to Rs 75.26 crore for YTD ended September 2022 from Rs 98.48 crore
for YTD ended September 2021. Cash flow used in acquiring fixed
assets during the YTD ended September 2022 stood at Rs 12.64 crore, compared to
Rs 19.40 crore during the YTD ended September 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 1,152.18 crore as of 31 March 2022. Intangible assets stood
at Rs 1.91 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.
Management Commentary
Commenting
on the performance Mr Sudhir Agarwal, Managing Director said: “While
the last six months have been news-heavy with major geo-political events
dotting the landscape, the Indian
Economy
with its large consumer base and growing manufacturing sector has shown signs
of resilience and revival. Our Industry has been a beneficiary of this
momentum and Dainik Bhaskar, being the industry leader has led the way
not only in financial results, but also for furthering the reversion-to-print
trend which is being witnessed amidst digitisation of media.
Our editorial integrity has
always been of paramount importance to us and that has been validated by the
increase
in advertisers across the spectrum – new age as well as
traditional businesses. Our omni-channel news delivery platform, along
with a well-oiled machinery on the circulation front, has propelled us to the
#1 Indian Language newspaper Company. We continue to focus our energies
in building a strong and resilient financial position to ensure that we
are able to capitalise on all opportunities that come our way.”
| D B Corp : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 538.40 | 446.80 | 20.50 | 1,032.49 | 751.06 | 37.47 | 1,768.54 | 1,507.70 | 17.30 | | OPM (%) | 16.73 | 22.60 | -587 bps | 15.27 | 13.63 | 163 bps | 17.12 | 20.21 | -309 bps | | OP | 90.05 | 100.96 | -10.81 | 157.61 | 102.38 | 53.95 | 302.80 | 304.77 | -0.65 | | Other Inc. | 7.70 | 4.46 | 72.65 | 13.92 | 8.18 | 70.17 | 20.00 | 14.49 | 38.03 | | PBIDT | 97.75 | 105.42 | -7.28 | 171.53 | 110.56 | 55.15 | 322.80 | 319.26 | 1.11 | | Interest | 4.85 | 4.75 | 2.11 | 9.85 | 10.27 | -4.09 | 18.19 | 24.31 | -25.17 | | PBDT | 92.90 | 100.67 | -7.72 | 161.68 | 100.29 | 61.21 | 304.61 | 294.95 | 3.28 | | Depreciation | 28.09 | 27.63 | 1.66 | 54.79 | 55.46 | -1.21 | 109.96 | 114.89 | -4.29 | | PBT | 64.81 | 73.04 | -11.27 | 106.89 | 44.83 | 138.43 | 194.65 | 180.06 | 8.10 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 64.81 | 73.04 | -11.27 | 106.89 | 44.83 | 138.43 | 194.65 | 180.06 | 8.10 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 13.19 | - | | PBT after EO | 64.81 | 73.04 | -11.27 | 106.89 | 44.83 | 138.43 | 194.65 | 193.25 | 0.72 | | Taxation | 16.03 | 19.27 | -16.81 | 27.11 | 13.31 | 103.68 | 52.09 | 51.83 | 0.50 | | PAT | 48.78 | 53.77 | -9.28 | 79.78 | 31.52 | 153.11 | 142.56 | 141.42 | 0.81 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 48.78 | 53.77 | -9.28 | 79.78 | 31.52 | 153.11 | 142.56 | 141.42 | 0.81 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 48.78 | 53.77 | -9.28 | 79.78 | 31.52 | 153.11 | 142.56 | 141.42 | 0.81 | | EPS (Rs)* | 2.75 | 3.04 | -9.28 | 4.50 | 1.78 | 153.11 | 8.05 | 7.44 | 8.20 | | | * EPS is on current equity of Rs 177.13 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 to Date | Year ended |
|---|
| % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Printing, Publishing and allied business | 93.78 | 505.14 | 418.45 | 20.72 | 93.68 | 967.56 | 707.29 | 36.80 | 93.69 | 1,657.66 | 1,425.81 | 16.26 | | Radio | 6.22 | 33.48 | 28.65 | 16.84 | 6.32 | 65.33 | 44.13 | 48.02 | 6.31 | 111.58 | 82.44 | 35.35 | | Total Reported Sales | 100.00 | 538.62 | 447.10 | 20.47 | 100.00 | 1,032.89 | 751.42 | 37.46 | 100.00 | 1,769.24 | 1,508.25 | 17.30 | | Less: Inter segment revenues | | 0.22 | 0.30 | -27.06 | | 0.39 | 0.37 | 7.10 | | 0.70 | 0.55 | 27.04 | | Net Sales | 100.00 | 538.40 | 446.80 | 20.50 | 100.00 | 1,032.49 | 751.06 | 37.47 | 100.00 | 1,768.54 | 1,507.70 | 17.30 | | PBIT | | Printing, Publishing and allied business | 89.83 | 58.43 | 73.11 | -20.08 | 88.88 | 96.66 | 55.85 | 73.07 | 92.55 | 194.05 | 205.63 | -5.63 | | Radio | 10.17 | 6.62 | 4.76 | 38.93 | 11.12 | 12.09 | 0.57 | 2,010.12 | 7.45 | 15.62 | 0.81 | 1,828.52 | | Total PBIT | 100.00 | 65.05 | 77.88 | -16.47 | 100.00 | 108.75 | 56.42 | 92.74 | 100.00 | 209.67 | 206.44 | 1.57 | | Less : Interest | | 4.85 | 4.75 | 2.25 | | 9.85 | 10.27 | -4.07 | | 18.19 | 24.31 | -25.19 | | Add: Other un-allcoable | | 4.62 | -0.09 | LP | | 7.99 | -1.33 | LP | | 3.17 | 11.12 | -71.50 | | PBIT Margin(%) | | Printing, Publishing and allied business | | 11.57 | 17.47 | -590.53 | | 9.99 | 7.90 | 209.37 | | 11.71 | 14.42 | -271.55 | | Radio | | 19.77 | 16.62 | 314.22 | | 18.51 | 1.30 | 1,720.95 | | 14.00 | 0.98 | 1,301.69 | | PBT | 100.00 | 64.81 | 73.04 | -11.27 | 100.00 | 106.89 | 44.83 | 138.43 | 100.00 | 194.65 | 193.25 | 0.73 |
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