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Increased risk weighs on HT MEDIA LTD., penalising its rating down to...
The independent financial analyst theScreener just lowered the general evaluation of HT MEDIA LTD. (IN), active in the Publishing industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date March 24, 2020, the closing price w...
- Rohit Dokania
HT Media's Q2FY19 results (Dropping Coverage) - Print stays weak, P&L ...
Q2FY19 result highlights HTML’s cons. rev. fell 6.0% yoy to ~Rs5.1bn (7% miss). Digicontent Limited (formerly HT Digital Ventures Ltd.) has been reported as discontinued operations (as required by Ind-AS 105). Hindi Print ad rev. fell 6.4% yoy (IDFCe: 0%), despite a weak base as national advertising spends remained tight during the quarter (although local ad players have started spending). English Print ad rev. fell 9.6% yoy (IDFCe: 0%), despite a soft base for similar reasons. Overall, prin...
- Rohit Dokania
HT Media's Q1FY19 results (Neutral) - Disappointing print performance;...
Q1FY19 result highlights HTML’s cons. rev. fell 7.1% yoy to ~Rs5.4bn (8% miss; cons. est. ~Rs6bn). Digicontent Limited (formerly HT Digital Ventures Ltd.) has been reported as discontinued operations (as required by Ind-AS 105); however, it is still to be carved out as NCLT approval is pending; previous year financials have also been re-stated. Hindi Print ad rev. fell 5.1% yoy (IDFCe: 1% fall) due to weakness in pan-India large client spends and high base due to govt. spending prior to GST...
- Aliasgar Shakir
MOSL: HT MEDIA (Neutral)- Dismal quarter, outlook weak
HT Media: Dismal quarter, outlook weak (HTML IN, Mkt Cap USD0.2b, CMP INR55, TP INR59, 7% Upside, Neutral) Weak revenue dents EBITDA: revenue fell sharply by 7% YoY to INR5.4b (13% miss), mainly due to a 7% YoY drop in print ad revenue to INR3.9b (DB Corp: +5% YoY). Further, a 3% YoY decline in circulation revenue to INR0.7b aggravated the impact on revenue. Subsequently, consol. EBITDA plunged 50% YoY to INR360m (54% miss). While RM cost rose 14% YoY, it was more than offset by savings i...
- Rohit Dokania
HT Media's Q4FY18 results (Downgrade to Neutral) - Newsprint price inf...
Q4FY18 result highlights HT Media cons. rev. fell by 4.1% yoy to Rs5.6bn (3% miss), EBITDA grew 10.2% yoy to Rs805m (9% miss). However, adj. PAT grew to ~3x yoy to Rs750m due to higher other income (~Rs843m; +72.7% yoy). Hindi Print ad rev. fell 14.6% yoy (IDFCe: 3% fall) due to high base effect (UP elections in base; LTL revenue was flat yoy). English Print ad rev. grew 15.1% yoy (IDFCe: +3% yoy) as in the base Eng. Print ad rev. had fallen by 21% yoy. Overall print ad rev. grew 2.4% yoy (I...
- Aliasgar Shakir
MOSL: HT MEDIA (Neutral)-Higher other income supports earnings-softer ...
HT MEDIA: Higher other income supports earnings; softer outlook ahead (HTML IN, Mkt Cap USD0.3b, CMP INR88, TP INR92, 5% Upside, Neutral) Muted circulation revenue pulls down overall growth: revenue fell 4% YoY to INR5.6b (5% miss), mainly due to a 9% YoY decline in circulation revenue, partly offset by ad revenue growth. Yet, consol. EBITDA of INR805m grew 10% YoY (11% miss), driven by a 12% YoY decline in SGA expenses. This, coupled with a surge in other income (+73% YoY), provided impe...
- Rohit Dokania
HT Media's Q3FY18 results (Outperformer) - Cost efficiencies continue ...
Q3FY18 result highlights HT Media cons. rev. fell by 3.8% yoy to Rs6.3bn (in-line), EBITDA grew 21.9% yoy to Rs1.3bn (5% beat). Adj. PAT (for one-time gain on land sale of ~Rs312m) grew by just 2% yoy to Rs932m (12% beat) despite 22% EBITDA growth because of 39% yoy fall in adj. other income (on lower yields) and higher tax rate yoy (at 8.1% versus 3.3% yoy). Hindi Print ad rev. grew by 4.9% yoy (IDFCe: flat yoy) despite overall softness in target markets post GST/RERA led ad spend slowdown....
- Aliasgar Shakir
MOSL: HT MEDIA (Neutral)-Cost optimization supports growth in weak ad ...
HT Media: Cost optimization supports growth in weak ad market (HTML IN, Mkt Cap USD0.3b, CMP INR115, TP INR117, 2% upside, Neutral) Subdued revenue growth: Muted ad and circulation revenue growth pulled down overall revenue by 4% YoY (+12% QoQ) to INR6.3b (5% miss). However, EBITDA increased 22% YoY (+29% QoQ) to INR1.3b (est. of INR1.0b), led by the company’s cost-restructuring initiatives. Margin expanded 450bp YoY (+290bp QoQ) to 21.5%. This coupled with a) 20% YoY reduction in finance co...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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