Jagran Prakashan Ltd

Based on the provided transcript from Jagran Prakashan Limited's December 2016 call (page 24 and surrounding pages): - There is no explicit mention of any current or planned new fundraising through debt or equity during this period. - The focus is primarily on operational matters, impact of demonetization, advertising revenues, and cost controls. - There was discussion about reducing stake in Radio City post-IPO to comply with regulatory requirements (bringing stake down from over 90% to 75%), but no clear timeline or equity raise was detailed. - Discussions on dividend policy emphasize distributing surplus cash rather than retaining for funding, implying no immediate need for fresh capital. - No references to new debt issuance or equity fundraising plans were found in the transcript sections provided. Hence, as of this December 2016 call, no current or future fundraising through debt or equity was indicated.

The transcript does not explicitly mention any specific current or future capex, capital investment, or strategic investment plans by Jagran Prakashan Limited. However, some relevant points include: - Investments in growth of circulation for brands like I-Next, Jagran Punjabi, and Naidunia during the current year (Page 14). - Inclusion of Radio Mantra in the group to boost profitability (Page 14). - Focus on digital customer acquisition primarily through organic growth and partnerships with Google and Facebook rather than aggressive paid acquisition (Pages 22). - No explicit mention of capex or strategic investment timelines or amounts. - Mention of promotional expenses for IRS survey and festive seasons (Page 20), but not described as significant strategic investments. Overall, the company seems focused on organic growth, brand expansion, and digital partnerships rather than large new capital or strategic investments as per available information.

- Digital Growth: Jagran expects faster digital revenue growth over the next 4-5 quarters, driven by investments in high-value verticals (business, technology) and advanced ad technology like programmatic buying to increase CPTs (Page 16). - Radio Business: Radio City has outperformed the industry with volume and revenue growth through blended strategies of inventory push and pricing; new stations like Kanpur carried advertising from day one with network deals, indicating confidence in future growth (Page 25). - Outdoor and Events: Improvement seen this year; management may reconsider exiting these businesses if growth continues (Page 23). - Print Segment: Circulation growth continues (Y-o-Y 6-7%), supported by per-copy realization improvements in key publications, signaling continued revenue growth (Page 12, 20). - Advertising Trends: Growth expected in local and national ad revenues; digital and mobile wallet advertising categories anticipated to become significant over next 3-6 months (Page 14, 24). - Overall Caution: Management remains cautious about demonetization impacts but optimistic about leveraging operational levers to manage margins and revenues (Pages 13-14, 20).

- Management refrains from giving specific earnings or EPS guidance due to uncertain macro environment, especially post demonetization. (Page 24, 23) - Digital revenues are expected to grow rapidly, with aggressive plans to enhance high-value verticals and advanced ad technology to improve monetization and CPTs. (Page 16) - There is cautious optimism about improving performance in radio and other businesses which may contribute positively to overall earnings. (Page 14) - Potential tax benefits related to amortization of goodwill (Rs. 230 crores) will improve cash flows, though EPS impact is neutral under IndAS. (Page 15) - Operating leverage exists through control on pagination and cover price; past examples show smaller decline in operating profit relative to revenue drop. (Page 13) - Management expects conditions to progressively improve, but is withholding extrapolation until clearer data becomes available post-demonetization. (Page 25) - Outdoor and event business profitability is improving; management may reconsider exit if trend continues. (Page 23)

The provided transcript from Jagran Prakashan Limited's December 15, 2016 conference call does not contain any specific information or discussion related to the company's current or expected order book or pending orders. The focus of the discussions centers around: - Impact of demonetization on advertising rates and volumes. - Split between national and local advertisers. - Costs related to newsprint and circulation. - Digital revenue and market position. - Radio business holdings. - Operational leverage and margin management amid demand fluctuations. - Government and e-commerce advertising shares. No direct mention or data on order books or pending orders is found in the portions shared.