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View Full Version : Hindustan Media Ventures Ltd (NSE:HMVL) (BSE:533217)



SMR
05-15-2015, 01:41 PM
Hindustan Media Ventures Limited is a publisher of Hindi language dailies. The Company’s primary publication, Hindustan, is circulated in Delhi-NCR, Bihar, Jharkhand, Uttar Pradesh and Uttarakhand. It is also available in towns like Aligarh, Mathura and Allahabad. Its other brands are LiveHindustan.com, Nandan and Kadambini. The Company’s publication, Hindustan, covers news across the entire spectrum of international, national and local news relating to politics, business, entertainment, sports and other general interests. It has also opened five printing locations in Agra, Meerut, Allahabad, Kanpur and Bareilly to add to its existing printing facilities at Varanasi (on a franchisee basis) and Lucknow.

Official website: www.hmvl.in

SMR
05-15-2015, 01:42 PM
For 4QFY2015, Hindustan Media Ventures Ltd (HMVL) reported earnings above our estimates. The top-line growth was healthy, mainly due to decent growth in advertising and circulation revenue. On the operating front, the company’s performance was strong, which led to higher PAT growth. Healthy growth in ad and circulation revenue: HMVL registered a double-digit growth in advertising revenue, ie of 10% yoy to ~Rs147cr, on back of increase in advertising yields and volumes. Further, the company reported a ~12% yoy growth in circulation revenue to Rs51cr on back of higher circulation as well as realization per copy. Higher PAT growth on back of strong operating performance: The company has reported strong PAT growth of ~43% yoy due to strong operating performance (on account of lower cost of news print which is a key raw material for HMVL), higher other income and lower taxes. Outlook and valuation: Going forward, we believe that the company would perform well, both on the top-line and bottom-line fronts, on back of strong recovery in the Indian economy. Further, we expect strong growth in both advertising and circulation revenue due to the company’s strong presence in the states of Uttar Pradesh, Uttarakhand, Bihar and Jharkhand. The Management has also indicated that the company is focusing on operational efficiencies to ensure revenue growth, thus leading to profit growth. Moreover, the company has a strong Balance Sheet which would make it more capable for future expansion plans. Hence, we recommend a Buy rating on the stock with a target price of Rs295.

Source: http://www.angelbroking.com

SMR
07-16-2015, 07:58 AM
For 1QFY2016, Hindustan Media Ventures Ltd (HMVL) reported earnings above our estimates. The top-line growth was decent with modest growth in advertising and circulation revenue. Advertising revenue growth for the quarter was subject to high base effect, with government spending being high in 1QFY2015. On the operating front, the company’s performance was strong, which led to higher PAT growth. Modest growth in ad and circulation revenue: HMVL registered a single-digit growth in advertising revenue, ie of ~7% yoy to ~Rs166cr, on back of increase in advertising yields and volumes. Further, the company reported a ~8% yoy growth in circulation revenue to Rs53cr on back of higher circulation as well as realization per copy. Higher PAT on back of strong operating performance: The company reported a strong PAT growth of ~23% yoy due to strong operating performance. The operating performance was strong on account of lower cost of news print which is a key raw material for HMVL. Outlook and valuation: Going forward, we believe that the company would perform well, both on the top-line and bottom-line fronts, on back of strong recovery in the Indian economy. Further, we expect strong growth in both, advertising and circulation revenue, due to the company’s strong presence in the states of Uttar Pradesh, Uttarakhand, Bihar and Jharkhand. The Management has also indicated that the company is focusing on operational efficiencies to ensure revenue growth, and in turn, profit growth. Moreover, the company has a strong Balance Sheet which would make it more capable for future expansion plans. Hence, we recommend a Buy rating on the stock with a target price of Rs295.

Source: http://www.angelbroking.com