Jagran Prakashan LtdQ2 FY18

Jagran Prakashan Ltd Q2 FY18 Earnings Call Analysis

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

Price: ₹61.6P/E: 7.2Market Cap: ₹1.4K CrSector: Media

Management growth scorecard

Revenue

Category 4

Margin

Category 3

Fundraise

N/A

Order

No

Capex

No

0 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 4
  • The company expects circulation growth to be comfortable at 2% to 3% annually over the next 3-5 years, with potential to grow up to 7%-8% if unleashed (Page 15).
  • For advertisement revenue, there is a belief that after November 8, in the next 50 days, growth of about 8%-10% is expected despite subdued government ad spend (Page 16).
  • Digital revenue is growing fast (~40%) and expected to continue to grow at a CAGR of around 20%-25% over the next five years, focusing on four audience segments with differentiated content strategies (Pages 14 and 5).
  • Circulation growth during the quarter was about 4.5% in Bihar and UP, with growth also targeted in MP (Page 5).
  • Advertisement revenue growth in difficult times was about 2%-2.5% for Nai Dunia (Page 6).
  • Overall ad spend growth is expected to stabilize as GST effects settle, enabling operating profit growth of 15% if ad revenue grows 6%-7% (Page 12).

See what Jagran Prakashan Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

The transcript from Jagran Prakashan Limited's Q2 FY2018 conference call does not mention any plans for current or future fundraising through debt or equity. Key points: - No discussion or indication of new debt or equity fund-raising activities. - Focus remains on organic growth and improving operating profits. - They completed a significant buyback of Rs. 302 Crores during H1, suggesting capital return to shareholders rather than fund raising. - Expansion plans mentioned are primarily organic (e.g., circulation growth), not through capital raising. - No mention of acquisitions requiring new fundraising, except some radio acquisition plans without specifics on funding source. Overall, there is no explicit mention of any immediate or planned future fundraising through debt or equity in the call.

See what Jagran Prakashan Ltd management said on order book — free account, 30 seconds.

Capex plans

No
The transcript from the Jagran Prakashan Limited Q2 FY2018 conference call does not explicitly mention any specific current or future capex (capital expenditure), capital investments, or strategic investments plans. However, key points related to business development include: - Focus on digital growth with a strategy to become a significant player in the digital segment targeting a 20%-25% CAGR over the next five years. - Investment emphasis on evolving digital products suitable for different audience segments rather than just e-paper versions. - No plans for entry into new states for print business; inorganic growth like acquisitions mentioned only for Radio segment. - Commitment to improving operating profits and shareholder returns with buybacks and dividends executed. - Discussions around operational expansion like circulation increases in specific states (e.g., Bihar, UP, MP). No direct mention or detailed guidance on capital expenditure or strategic investments beyond these operational and segment focuses.

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How does Jagran Prakashan Ltd rank vs peers in Media?

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