HT Media Ltd. share price target and research reports

Name: Latest research reports of HT Media Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: HT Media Ltd.
Rating: 3
Author: Motilal Oswal

Latest analyst research reports with target prices and PDF download for HTMEDIA, BSE:532662 HT Media Ltd.

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HT Media Ltd.

19 Jul 2018

26.37

-0.53%

Dismal quarter, outlook weak

Neutral: HT Media Ltd.

Target

Motilal Oswal

revenue fell sharply by 7% YoY to INR5.4b (13% miss), mainly due to a 7% YoY drop in print ad revenue to revenue to INR0.7b aggravated the impact on revenue. EBITDA plunged 50% YoY to INR360m (54% miss). While RM cost rose 14% YoY, it was more than offset by savings in employee/SGA cost (down 21%/4% YoY). EBITDA margin contracted 540bp YoY to 6.6%. PAT stood at a meager INR12m (INR386m in 1QFY18). (1) Print business is facing turbulence; expect headwinds to continue for the next few quarters. (2) Newsprint cost to remain high for the next 2-3 quarters, post which it should start coming down. (3) The merger of the metro radio business of HTML with the radio business of Next Mediaworks (NMW) is under consideration.

HT Media has gained 20.47% in the last 3 Months

HT Media Ltd.

04 May 2018

26.37

-0.53%

HT Media

HT Media Ltd.

ICICI Securities Limited

Revenues at | 561.2 crore (down 4.1% YoY) were below our estimate of | 592.3 crore. Hindi ad revenue declined 14.6% YoY, which was attributed to heavy base of UP election as well as continued muted spend from categories such as auto, medical & health, FMCG, consumer durables. English ad revenue improved handsomely by 15.1%YoY on a low base (~22% decline in base quarter). The radio performance was disappointing as it reported ~2% YoY revenue growth vs. our expectation of 8% YoY growth. Digital business...

HT Media has gained 21.52% in the last 6 Months

HT Media Ltd.

04 May 2018

26.37

-0.53%

HT Media and Hindustan Media Ventures results missed estimates, impacted by 4% miss on re...

Hold: HT Media Ltd.

Target

Emkay

HT Media and Hindustan Media Ventures results missed estimates, impacted by 4% miss on revenues and in-line cost assumptions. 14% miss on Hindi advertisement revenues was compensated by English ad revenues. Lower-than-estimated other revenues dented topline. Circulation revenues declined by 9% yoy, 4% below estimate. Till Q3FY18, both companies were reaping benefits of cost rationalization initiatives. But, the same seems to have...

HT Media has gained 21.52% in the last 6 Months

HT Media Ltd.

03 May 2018

26.37

-0.53%

HT Media: Higher other income supports earnings

Neutral: HT Media Ltd.

Target

Motilal Oswal

Consol. 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 impetus to PAT (+193% YoY to INR750m). Ad revenue grew marginally by 2% YoY to INR4.2b. For FY18, revenue declined 4% YoY to INR23.4b (1% miss), EBITDA grew 34% to INR4b (3% miss) and PAT increased 80% YoY to INR3.1b (12% beat)

HT Media Ltd. is trading above all available SMAs

HT Media Ltd.

15 Jan 2018

26.37

-0.53%

HT Media

Hold: HT Media Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Revenues at | 625.4 crore (fell 3.8% YoY) came in below our estimate of | 629.2 crore. Hindi ad revenue came in at | 177 crore, up 4.9% YoY vs. our estimate of ~3% YoY growth. English ad revenue declined 7.6% YoY (our estimate: ~7% decline). The performance of radio was disappointing at 4.8% YoY revenue growth. Digital business revenues were impacted by weak performance of shine.com The company's continued effort on cost savings aided EBITDA...

HT Media Ltd. is trading above all available SMAs

HT Media Ltd.

12 Jan 2018

26.37

-0.53%

HT Media: Cost optimization supports growth in weak ad market

Neutral: HT Media Ltd.

Target

Motilal Oswal

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 cost and b) 17% YoY rise in other income (led by INR311m gain on sale of Land & Building) led to overall PAT growth of 36% YoY (+88% QoQ) to INR1.2b (est. of INR0.6b) English business ad revenue declined 8% YoY, led by a lower-double-digit decline in ad volumes, partly offset by yield improvement. Hindi business ad revenues recovered, growing 5% YoY (3% volume and 2% pricing), as the impact of GST-related uncertainty subsided. Circulation-wise, both English and Hindi saw a sharp 14-15% YoY decline, as volumes and pricing were impacted by intense competition in the legacy markets. However, rising newsprint prices may compel industry players to increase cover prices, partly mitigating the adverse impact

HT Media has gained 20.47% in the last 3 Months

HT Media Ltd.

23 Oct 2017

26.37

-0.53%

Curtailed Advertising spend and continued sluggishness in English Print segment impacted...

Hold: HT Media Ltd.

Target

Emkay

Curtailed Advertising spend and continued sluggishness in English Print segment impacted the Print Ad revenue. Both Hindi and English Ad revenue declined by 8% yoy each. Radio revenue grew by 18% yoy, driven by new launches. Sharp fall in expenses was driven by continued efforts on cost rationalization and discontinuation of non-performing editions, leading to robust EBITDA growth. Benefits of...

HT Media has gained 21.52% in the last 6 Months

HT Media Ltd.

18 Oct 2017

26.37

-0.53%

HT Media

Hold: HT Media Ltd.

Recommendation Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Revenues were at | 560.6 crore (decline of 6.9% YoY), below our estimate of | 599.1 crore. Hindi ad revenues came in at | 157 crore, with 7.7% YoY decline vs. our estimate of ~4% YoY growth. English print revenues were down 8.4% YoY to | 238 crore (our estimate: 5% decline). Nevertheless, the company posted a healthy performance in the radio segment with 18.4% YoY growth to | 42.8 crore as the newly launched stations continued to boost revenues...

HT Media has gained 20.47% in the last 3 Months

HT Media Ltd.

17 Oct 2017

26.37

-0.53%

HT Media : Sluggish ad market weighs on performance

Neutral: HT Media Ltd.

Target

Motilal Oswal

and travel segments). English/Hindi ad revenues declined 8% YoY to INR2.3b/1.57b. English/Hindi circulation revenue remained sluggish (down 13%/7%) on the back of soft pricing and curtailing of copies. PAT doubled despite revenue slowdown: Bucking the revenue trend, EBITDA doubled to INR1045m in 2QFY18, led by a) restructuring benefits (hiving off low-yield regions), b) lower cost on account of a decline in volumes (~12%), c) cut down in discretionary spends and d) GST benefits. PAT increased 114% YoY to INR662m....

HT Media has gained 21.52% in the last 6 Months

Is HT Media Ltd. worth buying?

66 Votes:

Buy 78.79%

Sell 15.15%

Hold 6.06%