Any current/future new fundraising through debt or equity?

There is no current plan for Jagran Prakashan Limited (JPL) to raise new equity or debt for acquisitions. For the Big FM acquisition, JPL may provide temporary funding in the form of interest-bearing debt for a couple of months if required, but no equity infusion is planned. Jagran Prakashan does not intend to enter into a bidding race for acquisitions; transactions are negotiated. The company plans to continue distributing cash dividends traditionally, though not at very high levels every year. There is no mention of upcoming debt or equity fundraising in the provided discussion.

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

FY2019 Capex was around Rs. 50-60 Crores, primarily due to asset purchases by Midday and Radio City, as they bought their previously bank-mortgaged head offices. (Page 16) No specific mention of planned future capex, but current capex includes strategic asset purchases in broadcast and print subsidiaries. (Page 16) No other major new consolidation or acquisitions planned in print, as Jagran Prakashan Limited (JPL) currently focuses on growing existing brands like Naidunia, Midday, Dainik Jagran INext, and Punjabi Jagran. (Page 16) Temporary financial accommodation (debt) may be provided to Mus

Future growth expectations in sales/revenue/volumes?

Print advertisement revenue is expected to grow about 8% in FY2020 (Page 10). Radio advertising revenue growth forecasted around 10%-11% for FY2020 (Page 10). Circulation revenue growth expected to come from a combination of increased circulation in under-penetrated markets and cover price hikes (Page 14). Digital business growing annually at 20%-30%, with positive user growth and traffic, aiming for profitability by Q4 FY2020 (Page 11). Outdoor and event businesses are scaling up, targeting higher margins and growth (Page 12). The company expects 20% growth in EBITDA if print ad revenues grow

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

Jagran Prakashan expects print advertisement revenue growth of about 8% in FY2020, which is a key driver for earnings growth. (Page 10, 14) Achieving this 8% print ad growth could lead to approximately 20% growth in EBITDA, reflecting strong operating performance. (Page 14) Operating margins for print (Dainik Jagran) were 27% in Q4 FY2019; with 8-9% ad growth and expected newsprint cost softening, margins could exceed 30%. (Page 8) Consolidated margins are lower (~23%) due to revenue mix involving lower-margin businesses like Digital, Outdoor, and Event; margins expected to improve with mix

Jagran Prakashan LtdQ4 FY19Media

Jagran Prakashan Ltd Q4 FY19 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 2

Fundraise

Order

N/A

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 4

Print advertisement revenue is expected to grow about 8% in FY2020 (Page 10).
Radio advertising revenue growth forecasted around 10%-11% for FY2020 (Page 10).
Circulation revenue growth expected to come from a combination of increased circulation in under-penetrated markets and cover price hikes (Page 14).
Digital business growing annually at 20%-30%, with positive user growth and traffic, aiming for profitability by Q4 FY2020 (Page 11).
Outdoor and event businesses are scaling up, targeting higher margins and growth (Page 12).
The company expects 20% growth in EBITDA if print ad revenues grow by 8% (Page 14).
Long term print growth expected to be under 8% CAGR but still positive (Page 4).
Local advertising and diverse category mix provide stability and growth opportunities (Page 4).

Margin guidance

Category 2

Jagran Prakashan expects print advertisement revenue growth of about 8% in FY2020, which is a key driver for earnings growth. (Page 10, 14)
Achieving this 8% print ad growth could lead to approximately 20% growth in EBITDA, reflecting strong operating performance. (Page 14)
Operating margins for print (Dainik Jagran) were 27% in Q4 FY2019; with 8-9% ad growth and expected newsprint cost softening, margins could exceed 30%. (Page 8)
Consolidated margins are lower (~23%) due to revenue mix involving lower-margin businesses like Digital, Outdoor, and Event; margins expected to improve with mix correction. (Page 8)
Digital business grew 20% in FY2019 with plans to reduce losses by 50% and potentially turn profitable by Q4 FY2020, supporting future earnings. (Page 11-12)
Focus is more on absolute profit growth than just margins, emphasizing growth in net profits aligned with top-line growth. (Page 8)

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

Fundraise plans

There is no current plan for Jagran Prakashan Limited (JPL) to raise new equity or debt for acquisitions.
For the Big FM acquisition, JPL may provide temporary funding in the form of interest-bearing debt for a couple of months if required, but no equity infusion is planned.
Jagran Prakashan does not intend to enter into a bidding race for acquisitions; transactions are negotiated.
The company plans to continue distributing cash dividends traditionally, though not at very high levels every year.
There is no mention of upcoming debt or equity fundraising in the provided discussion.

Order book

The provided transcript from Jagran Prakashan Limited's Q4 FY2019 earnings call does not explicitly mention the current or expected order book or pending orders. The discussion primarily focuses on: - Advertising revenue growth and category performance. - Circulation strategies and price hikes. - Newsprint cost trends and inventory levels. - Digital and radio business growth. - Strategic acquisitions and dividend policies. No direct reference or data on order book or pending orders is available in the excerpts given. If you require specific details on order book or pending orders, it may not be covered in this transcript.

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

Capex plans

Yes

FY2019 Capex was around Rs. 50-60 Crores, primarily due to asset purchases by Midday and Radio City, as they bought their previously bank-mortgaged head offices. (Page 16)
No specific mention of planned future capex, but current capex includes strategic asset purchases in broadcast and print subsidiaries. (Page 16)
No other major new consolidation or acquisitions planned in print, as Jagran Prakashan Limited (JPL) currently focuses on growing existing brands like Naidunia, Midday, Dainik Jagran INext, and Punjabi Jagran. (Page 16)
Temporary financial accommodation (debt) may be provided to Music Broadcast Limited, but no major equity infusion expected. (Page 5)
The company continues to invest moderately in technology to improve efficiency, which has helped contain costs over years. (Page 15)

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