Hi Ragav, any latest estimate on the retail acceptance ration…given that in case of Jagran only 30% is accepted
when is the buyback date ?
7th Aug buyback will start … 30% acceptance for Retail < 2 lacs looks like.
Now many people will become long term investors in it. its turning out to be a bad arbitrate.
The final acceptance seems will be around 40-45% …
People wont loose money even if they entered just for Buyback
On a side note, at current valuations it is definitely a low risk
investment, Its trading at PE of 14 whereas in last 5 years Median PE
is 19 and Max around 24.
Regional language newspapers are not going to die , rather their
readership base is expanding due to Improved literacy, 24 Hours
political environment etc, people need them for local news content…
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The basic of investment in any asset class is to buy low and sell high. So why one should not hold or even accumulate more and be a long term investor when valuation is at historic low and business is going through its down cycle temporarily…
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Post-Buyback, EPS increases and P/E is 12.7
Has the buyback started ? I can’t find it in zerodha Q
I checked with Zerodha. They said we need to mail the tender form filled & signed copy to support.zerodha. They will do it manually.
Buyback through our backoffice is stock specific.
You can just drop a mail to zerodha saying that I want to tender shares for buyback. Indicate qty of shares. They will place order on your behalf.
Seems that buyback final acceptance ratio is around 43%…
Advertising revenue is down 4.4% yoy inspite of windfall gains due to general elections.
HT Media v/s D.B. Corp Q2 Results!
https://drive.google.com/open?id=1cRPayK6UWCiF61mQ14rpO03RNMa6-gj2
Detailed Analysis on Expenses of HT Media!
https://drive.google.com/open?id=1PT8t-qZmjKJbPzlFlKHWKAFDSBz5n54X
Better to compare the two best-governed companies - DB Corp and Jagran with each other. HMVL seems to have a lot of unnecessary restructurings and cash on its balance sheet which distorts other numbers. Q2 - Jagran was the best performed in terms of the least drop in ad revenues.
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DB corp Q320 call rough notes jan 2020
Govt spend down sharply, ex govt advtg down 10-12%
Auto quite weak and lil fmcg weak
Education, electronics, real estate been fine
circulation revenues up 1%…6-8 rs price hike in MP
maintains highest circulation globally…3rd highest ?
Govt advtg gone down as no new schemes…hence no advtg. Radio & TV decline on govt…so not reallocation…no reason to advertise…
Govt ads down…value down 50% yoy….for us down 15%… central govt advtg down 50%; states maintain advtg spends. central/state is 65:35.
My market share has increased with higher circulation strategy…but market volumes have gone down
we want to grow 2-3% ciruclation volume growth…no. of copies
Newsprint prices down 16%, this qtr also down ?
\M&A : not really. as we are looking to focus on growth in Gujarat…Punjab, MP…?..in circulation and advtg revenues
CASH : whatever cash we have…we are looking to give out cash. we gave 5 rs…2nd interim 3.5 rs.
In RADIO business : central govt advtg dip and auto& lifetstyle sector hit. inventory utilsiation 60-65% operations. Auto and lifestyle hurting. Education, healthcare, real estate doing well with radio advtg…small advertisers. tier 2 & tier 3 company…
PRINT has currency…measurement, TV has TRPs. RADIO…has no measurement currency. struggling with…hence corporate volumes going down; we are lobbying govt to allow news.
almost no institutional participation
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They closed DNA English edition in mumbai
Why is this going down so much? Market seems to think that this will go bankrupt…
Same with Jagran Prakashan…
These are old established newspapers. Still trading at < 3 EV/EBIT??
Guys, I think this is a good opportunity.
These (DB and Jagran) are reputed newspapers which will not go bust (they don’t even have debt). At 3PE if these are not value buys, dunno what is. These will never grow fast but will not die fast as well. But since their PE is so low, scope for making money is high. Say in five years time bull market returns and these trade at 9-10 PE, even with no growth they can become a multi-bagger as they don’t seem likely to go bankrupt
I am waiting for these stocks to stop falling and the trend to reverse before I start buying.
PS: Value pickers should be enthu abt this stock ideally but somehow don’t see any activity on this thread…
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Print media is going out of normal usage in developed countries much like what would have happened to whale oil industry when crude was discovered
A habit usually changes over a certain period of usage. With covid more people are getting accustomed to reading news on a digital media
The future is not great.
Understand no debt as of now but eventually staff and other expenses will have to be paid profit or not and this will result in accumulation of slow debt
Maybe none of it will happen but shareholders generally are like fish. If you are brave you get eaten. The shy ones live longer
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This is true only in the western world. In India circulation is still growing.
Watch this from PPFAS MF
