Jagran Prakashan Ltd

- No current plans to raise new debt or equity; the existing debenture approval is an enabling provision to augment liquidity but no funds have been raised yet. (Page 6) - No specific mention of plans for fresh equity fundraising. - Capital allocation shows slight increase in debt due to dividend distribution and working capital management, but net debt is zero with significant cash in hand (~173 crores). (Page 13) - Maintenance CAPEX of 50-60 crores planned, but no large-scale capital raising indicated. (Page 8)

- Maintenance CAPEX for the next year is planned in the range of ₹50 to ₹60 crores. - No mention of any new large strategic investments or private equity treaties, e.g., no deal similar to Times of India with real estate developers. - The company maintains flexibility in capital allocation depending on business needs and market conditions. - Cash position is strong with around ₹173-175 crores cash in hand and net debt near zero, allowing for potential future investments as required.

- Advertisement revenue is expected to grow by 7%-8% in FY20, driven by: - A 25% hike in government ad rates contributing about 3.75%-4.5% growth. - Recovery in commercial and local advertising. - Increased state government spending. - Positive impact from upcoming elections. - Circulation volume is planned to grow by approximately 4%-5% in FY20, with some temporary spikes due to elections. - Newsprint prices are expected to fall by 10%-20%, easing raw material costs and improving margins by 400 to 500 basis points. - Radio inventory fill rates are improving; free inventory (~40%) mostly in new cities is rapidly filling up with expectations to reach 60%-70% utilization in 2-3 years. - Digital is growing with a 30% year-on-year increase in revenue; monetization efforts through subscription for niche content are underway for medium-term growth.

- Advertisement revenue growth for FY20 is expected in the range of 7%-8%, driven by government ad rate hikes, increase in state government spend, and improved commercial advertising. (Page 5, 10, 14) - Newsprint prices are anticipated to fall by around 15% on average next year, which will positively impact margins. (Page 11, 10) - Operating margin (EBITDA margin) is expected to improve by 400-500 basis points in FY20 compared to FY19. (Page 11) - Circulation volume growth forecasted at around 4%-5% for FY20, with some temporary higher growth expected during elections. (Page 8, 16) - Raw material costs expected to drop due to newsprint price decline, with circulation increase partly offsetting this. (Page 10) - Digital revenue growing strongly at 30% YoY, contributing positively to overall growth. (Page 4) - Overall, the company is optimistic about improved revenues and operating profits supported by a better macro environment and election-linked advertising uptick. (Page 2, 11)

The provided document (page 17 and surrounding content) does not mention any information about the current or expected order book or pending orders for Jagran Prakashan Limited. The discussion mainly revolves around advertising revenue trends, inventory in radio advertising, government ad rates, newsprint prices, digital growth, and stock buyback policies. There is no disclosure or commentary related to order books or pending orders in the transcript or presentation shared.