Any current/future new fundraising through debt or equity?

There is no specific mention of any current or planned fundraising through debt or equity in the transcript. The management emphasizes maintaining a conservative cash position, with net cash levels north of INR 800 crores. They are focusing on optimizing costs and monetizing non-core assets rather than seeking new fundraising. The company is investing internally, especially in the digital OTTplay platform, funded from core business cash flows. No buyback proposals or equity raises are under consideration as per the latest call. The priority seems to be on cost control, revenue recovery, and im

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

The company has engaged in non-strategic investments as part of its Ad for Equity (AFE) program, taking investment positions in counterparties in lieu of advertising contracts. These are not substantial stakes (Page 15). Investments in the FM radio business are significant historical capital outlays, including Phase 3 government auction and acquisition of Radio One, totaling around INR 750 crores (Page 8). The company is currently investing in the digital OTTplay venture, which is cash-intensive and expected to continue incurring losses for the next 3-4 quarters as it builds its subscripti

Future growth expectations in sales/revenue/volumes?

Print business revenues were down due to the shift in the festive season but are expected to improve in Q3 aligning with the festive period. English print circulation revenue increased significantly (35% YoY), indicating positive momentum. Radio segment showed about 8% growth in operating revenue led by non-FCT revenue. Digital revenue grew by approximately 10% in Q2. Management is optimistic about recovering pricing in print and radio businesses during the festive season, which should enhance profitability. Election-related advertising revenue is expected to flow in from Q3 FY2024-25, providi

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

Management is optimistic about profitability improving, especially post-COVID cycles. A significant focus is on pricing improvements in Print (FY24 pricing program) to restore profitability. Expectation of EBITDA margins around 10-12% as a sustainable level in Print and Radio businesses. Radio business has undergone sharp cost optimization and expects pricing recovery during the festive season. Digital segment, especially OTTplay, is in an investment phase with expected profitability in 3-4 quarters. Election cycles and commodity price corrections (e.g., newsprint) are expected to positively i

Hindustan Media Ventures LtdQ2 FY24Media

Hindustan Media Ventures Ltd Q2 FY24 Earnings Call Analysis

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

Price: ₹76.7P/E: 3.5Market Cap: ₹565 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 revenues were down due to the shift in the festive season but are expected to improve in Q3 aligning with the festive period.
English print circulation revenue increased significantly (35% YoY), indicating positive momentum.
Radio segment showed about 8% growth in operating revenue led by non-FCT revenue.
Digital revenue grew by approximately 10% in Q2.
Management is optimistic about recovering pricing in print and radio businesses during the festive season, which should enhance profitability.
Election-related advertising revenue is expected to flow in from Q3 FY2024-25, providing support to top-line growth.
Overall, the second half of FY2023-24 is anticipated to be better than the first half, driven by seasonal advertising uptick and pricing programs.
Profitability and margins are expected to improve with stabilized commodity (newsprint) prices and active yield/pricing management.

Margin guidance

Category 3

Management is optimistic about profitability improving, especially post-COVID cycles.
A significant focus is on pricing improvements in Print (FY24 pricing program) to restore profitability.
Expectation of EBITDA margins around 10-12% as a sustainable level in Print and Radio businesses.
Radio business has undergone sharp cost optimization and expects pricing recovery during the festive season.
Digital segment, especially OTTplay, is in an investment phase with expected profitability in 3-4 quarters.
Election cycles and commodity price corrections (e.g., newsprint) are expected to positively impact revenue and margins in the second half of FY24 and onwards.
No specific timeline given, but Q3 and Q4 FY24 are expected to be better quarters driving growth.
Management maintains a cautious but hopeful stance with ongoing cost controls and gradual pricing recovery.

See what Hindustan Media Ventures Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

There is no specific mention of any current or planned fundraising through debt or equity in the transcript.
The management emphasizes maintaining a conservative cash position, with net cash levels north of INR 800 crores.
They are focusing on optimizing costs and monetizing non-core assets rather than seeking new fundraising.
The company is investing internally, especially in the digital OTTplay platform, funded from core business cash flows.
No buyback proposals or equity raises are under consideration as per the latest call.
The priority seems to be on cost control, revenue recovery, and improving profitability rather than external fundraising at this stage.

Order book

The transcript provided does not mention any details related to the current or expected order book or pending orders for Hindustan Media Ventures Limited. The discussion primarily focuses on financial results, business segment performance (Print, Radio, Digital), cost management, profitability outlook, and specific inquiries about investments and business segments like OTTplay and radio. There is no information on order books or pending orders in the available transcript.

See what Hindustan Media Ventures Ltd management said on order book — free account, 30 seconds.

Capex plans

The company has engaged in non-strategic investments as part of its Ad for Equity (AFE) program, taking investment positions in counterparties in lieu of advertising contracts. These are not substantial stakes (Page 15).
Investments in the FM radio business are significant historical capital outlays, including Phase 3 government auction and acquisition of Radio One, totaling around INR 750 crores (Page 8).
The company is currently investing in the digital OTTplay venture, which is cash-intensive and expected to continue incurring losses for the next 3-4 quarters as it builds its subscription base (Pages 11, 5).
No specific mention of new large-capex or strategic investments approved or planned during the current period (Page 15).
Asset monetization of non-core assets is ongoing to conserve cash and improve the balance sheet (Page 9).

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