Any current/future new fundraising through debt or equity?

No specific mention of any current or future fundraising through debt or equity was made during the call. Piyush Gupta noted a considerable amount of cash available, primarily being used to construct new businesses, especially digital ventures like OTTplay. There is no planned dividend payout or buyback mentioned at this point. Investments have been primarily in operating expenses (opex) for new digital businesses, with a plan to reduce investments drastically in the coming year. The company emphasized focusing on scaling digital products and improving profitability in the future rather than i

Any current/future capex/capital investment/strategic investment?

HT Media Limited is currently investing heavily in its digital product, OTTplay, which is being built as a media adjacency and future business. These investments are primarily operating expenses (opex) rather than capital expenditure (capex). The setup and initial investments for OTTplay were significant last year but are expected to reduce drastically from this quarter onwards, potentially to about half the last year's amount. No specific figures for capex on new or strategic investments were disclosed at this time. The company maintains a healthy net cash balance (INR 884 crores as of March

Future growth expectations in sales/revenue/volumes?

Print business has turned around this year with strong consolidated performance, indicating steady or improving revenue going forward. (Page 18) There is an expectation of margin improvement in Print business as pricing power is pursued in FY25. (Page 7) Hindi market shows double-digit growth in ad revenue, though circulation revenue dropped due to pricing adjustments. (Page 5, 17) Digital segment, especially OTTplay, has received substantial investment; revenues expected to grow as product-market fit has been achieved and commercial unlocking is anticipated this year. (Pages 6, 9, 18) Adverti

Future growth expectations in earnings/operating earnings/profits/EPS?

The Print business has turned around and is expected to consolidate its position with improved margins by pushing pricing in FY25. Digital segment, notably OTTplay, is currently in investment phase with losses expected to continue next year; profitability is not expected in the next year but targeted beyond two to three years. OTTplay’s investments will reduce drastically from this quarter onwards, with operating expenses replacing initial setup costs, leading to a sharper decline in investment and potential revenue growth. Overall consolidated EBITDA showed marked improvement with a pos

H T MediaQ4 FY24Media

H T Media Q4 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹22.4P/E: 4.6Market Cap: ₹560 CrSector: Media

Management growth scorecard

Revenue

Category 4

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

N/A

0 of 2 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 4

Print business has turned around this year with strong consolidated performance, indicating steady or improving revenue going forward. (Page 18)
There is an expectation of margin improvement in Print business as pricing power is pursued in FY25. (Page 7)
Hindi market shows double-digit growth in ad revenue, though circulation revenue dropped due to pricing adjustments. (Page 5, 17)
Digital segment, especially OTTplay, has received substantial investment; revenues expected to grow as product-market fit has been achieved and commercial unlocking is anticipated this year. (Pages 6, 9, 18)
Advertisement revenue in Digital grew 37% quarterly and 16% yearly, signaling growth potential. (Page 5)
Investments in OTTplay will reduce drastically this year, leading to improved profitability in digital. (Page 12)
Overall, optimistic about revenue growth in both Print and Digital segments for FY25 and beyond, with focus on pricing and scaling digital offerings. (Pages 7, 18)

Margin guidance

Category 3

The Print business has turned around and is expected to consolidate its position with improved margins by pushing pricing in FY25.
Digital segment, notably OTTplay, is currently in investment phase with losses expected to continue next year; profitability is not expected in the next year but targeted beyond two to three years.
OTTplay’s investments will reduce drastically from this quarter onwards, with operating expenses replacing initial setup costs, leading to a sharper decline in investment and potential revenue growth.
Overall consolidated EBITDA showed marked improvement with a positive trend expected to continue as Print and Radio businesses improve.
Management focuses on scaling digital businesses before profitability; long-term outlook includes generating annuity streams from new businesses.
No specific guidance on earnings or EPS given currently; company to provide clearer performance updates on OTTplay mid-2024.
Pricing power in the Print sector currently under pressure but expected to improve, which should positively impact operating profits.

See what H T Media management said on margin guidance — free account, 30 seconds.

Fundraise plans

No specific mention of any current or future fundraising through debt or equity was made during the call.
Piyush Gupta noted a considerable amount of cash available, primarily being used to construct new businesses, especially digital ventures like OTTplay.
There is no planned dividend payout or buyback mentioned at this point.
Investments have been primarily in operating expenses (opex) for new digital businesses, with a plan to reduce investments drastically in the coming year.
The company emphasized focusing on scaling digital products and improving profitability in the future rather than immediate fundraising activities.

Order book

The transcript provided does not contain any specific information or disclosure about the current or expected order book or pending orders for HT Media Limited or Hindustan Media Ventures Limited. The discussion primarily revolves around financial performance, ad revenue, circulation revenue, digital investments, newsprint costs, and the OTTplay business. - No explicit mention of current or expected order book in the transcript. - Focus is on revenue streams: advertising, circulation, digital subscriptions. - Investments in OTTplay and digital segment discussed with planned reduction in investments and future revenue growth. - No details related to pending orders or contracts provided. If you need data on order books or pending orders, these may not be publicly disclosed or may be available in other reports or company filings.

See what H T Media management said on order book — free account, 30 seconds.

Capex plans

HT Media Limited is currently investing heavily in its digital product, OTTplay, which is being built as a media adjacency and future business.
These investments are primarily operating expenses (opex) rather than capital expenditure (capex).
The setup and initial investments for OTTplay were significant last year but are expected to reduce drastically from this quarter onwards, potentially to about half the last year's amount.
No specific figures for capex on new or strategic investments were disclosed at this time.
The company maintains a healthy net cash balance (INR 884 crores as of March 31, 2024), primarily utilized to fund digital and new business investments.
There was also mention of ongoing liquidation of surplus land and investment properties linked to the ad-for-equity business as part of asset management, but no new capex details were shared.
Future plans include scaling OTTplay, reducing investments in it over the next year, and increasing revenue, with profitability expected beyond the next couple of years.

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