Jagran Prakashan Ltd. share price target and research reports

Name: Latest research reports of Jagran Prakashan Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Jagran Prakashan Ltd.
Rating: 3
Author: ICICI Securities Limited

Latest analyst research reports with target prices and PDF download for JAGRAN, BSE:532705 Jagran Prakashan Ltd.

Jagran Prakashan Ltd.

05 Nov 2018

69.84

-0.10%

Jagran Prakashan

Hold: Jagran Prakashan Ltd.

Target

ICICI Securities Limited

Jagran Prakashan reported a topline of | 553.4 crore vs. our expectation of | 578 crore. Print ad revenues fell 9.2% YoY (vs. our expectations of 1% decline) to | 306.9 crore while circulation growth came in line with our expectations at 3.9% YoY to | 110.42 crore....

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

02 Nov 2018

69.84

-0.10%

Hit by weak ad growth, higher newsprint cost; 2H growth hinges on festive

Buy: Jagran Prakashan Ltd.

Target

Motilal Oswal

revenue declined 2% YoY (-8% QoQ) to INR5.5b (6% miss), primarily due to muted print ad revenue. EBITDA declined 28% YoY (-39% QoQ) to INR1.0b (21% miss, mainly led by a 6% increase in opex), with the margin contracting 650bp YoY to 18.0% (360bp miss). Although RM cost increased by 9% YoY, it was lower than our estimate (by 3%) and also relatively benign compared to peers. Consequently, PAT declined 39% YoY (-51% QoQ) to INR421m (36% miss). Revenue was flat YoY, while EBITDA/adj. EBITDA margin shrank 310bp YoY to 22.8%.

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

02 Aug 2018

69.84

-0.10%

EBITDA takes a good turn; higher newsprint prices to limit growth

Buy: Jagran Prakashan Ltd.

Target

Motilal Oswal

revenue grew 2% YoY (+10% QoQ) to INR6b (in- line), driven by radio and other operating revenue; print business revenue was flat YoY. Newsprint prices increased 10% YoY; however, a 4-5% decline in circulation copies and the use of old (low-priced) inventory restricted the rise in newsprint cost to a meager 3% YoY (+10% QoQ). EBITDA, thus, grew 1% YoY (+36% QoQ) to INR1.6b (in-line), with the margin down 15bp YoY to 27.1%. Print ad revenue was flat YoY at INR3.6b, led by an improvement in ad spends across FMCG, education and e-commerce categories. Circulation revenue grew 1% YoY to INR1.1b, driven by a 9-10% rise in cover price (not fully factored), partly offset by a decline in circulation copies. On the business front, Dainik Jagrans EBITDA was up 1% YoY, while other publications reported a sharp 55% YoY drop in EBITDA. (1) 9%/10% YoY increase in Dainik Jagran/Nai Dunias cover price led to a 4-5% drop in circulation copies.

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

30 May 2018

69.84

-0.10%

Jagran Prakashan Ltd.

Not Rated: Jagran Prakashan Ltd.

AUM Capital

Jagran Prakashan (JPL), incorporated in 1975, has emerged as India's leading media and communication group with interests spanning across printing and publication of newspapers & magazines, Radio and Digital & Outdoor Advertising. Dainik Jagran, JPL's flagship print publication founded in 1942 was the brainchild of freedom fighter, Late Shri Puran Chandra Gupta. It operates its business of...

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

08 Mar 2018

69.84

-0.10%

Revenue growth at the cusp of revival

Buy: Jagran Prakashan Ltd.

Target

Motilal Oswal

Excluding MBL's current value, JAGP is trading at an EV/EBITDA of 6x (FY19E), and at 11x FY19E EPS. We value JAGP at 14x December 2019E EPS (~10% discount to 3-year average), arriving at a TP of INR215. Growth levers lined up for resurgence in ad revenue As the impact of GST-related hiccups is waning, print ad revenues are expected to grow at a healthy 10% CAGR over FY18-20, on the back of recovery in ad spends led by increased launches across the FMCG and auto space. JAGP should further gain due to its leadership in recent IRS ratings, which should help command higher ad...

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

21 Feb 2018

69.84

-0.10%

JagranPrakashan

Buy: Jagran Prakashan Ltd.

Geojit BNP Paribas

Dainik Jagran with its long-standing presence and focus on providing local content has enabled it to command a dominant position in the country's Hindi speaking regions. JPL's advertisement revenue excluding Radio grew at a CAGR of 8% over FY13-17 driven by better yields and increased volumes. We expect overall advertisement revenue to grow at a CAGR of 7% over FY17-20E. Given its leadership position, we expect Radio business to register a strong CAGR of...

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

05 Feb 2018

69.84

-0.10%

Result Update:Jagran Prakashan

Buy: Jagran Prakashan Ltd.

Target

Axis Direct

JAGP's Q3 print ad remained soft (down ~3% YoY) given (a) continued slowdown across government ad spends (50-60% contribution), and (b) higher ad revenue base on higher contribution from Government/ political/ festive spends; both National and local ad spends were subdued.

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

31 Jan 2018

69.84

-0.10%

Jagran Prakashan

Hold: Jagran Prakashan Ltd.

ICICI Securities Limited

Jagran Prakashan reported a topline of | 598.1 crore, which was lower than our expectation on account of miss in print ad revenues. Print ad revenues came in at | 356 crore, declining 3.8% YoY (vs. our expectation of 3% YoY growth). The print ad revenue performance was better than DB Corp (5.8% YoY decline) but was weaker than HMVL (+4.9% YoY growth). Radio revenues reported growth of 4.7% YoY, albeit weaker than our expectation of 10% YoY growth. The...

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

04 Jan 2018

69.84

-0.10%

Jagran Prakashan Limited

Buy: Jagran Prakashan Ltd.

Choice India

Jagran Prakashan Limited is a media and communications company with interests in print, digital, radio, out-of-home (OOH) and activation. The Company is engaged in the business of printing and publication of newspapers and periodicals, business of radio broadcast and all other related activities through its radio channels operating under brand name Radio City 91.1 frequency modulation (FM) in India. It is also engaged in the business of providing event management services and outdoor activities. The Company publishes approximately 12 print titles in over five different...

Jagran Prakashan Ltd. is trading below all available SMAs

Jagran Prakashan Ltd.

17 Nov 2017

69.84

-0.10%

Result Update:Jagran Prakashan

Buy: Jagran Prakashan Ltd.

Target

Axis Direct

JAGP's Q2 consol. print ad growth (up ~2% YoY) was impacted by >10% YoY decline across local (due to GST-led slowdown) and govt ad spends (combined contribution of 50-60% to ad revenues) - this negated 10% YoY rise in national spends.

Jagran Prakashan Ltd. is trading below all available SMAs

Is Jagran Prakashan Ltd. worth buying?

290 Votes:

Buy 84.83%

Sell 8.62%

Hold 6.55%