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Jagran Prakashan Ltd share Price

Company details

100.10
106.05
62.30
117.55
6M Return 39.74%
1Y Return 61.12%
Mkt Cap.(Cr) 2,223.34
Volume 222,328
Div Yield 3.78%
OI
-
OI Chg %
-
Volume 222,328

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Publishing company Jagran Prakashan announced Q1FY24 results:

  • Consolidated Q1FY24:
    • Operating Revenues at Rs 454.58 crore, slightly up Rs 454.47 crore.
    • Advertisement Revenues at Rs 309.37 crore, up by 1.5% from Rs 304.92 crore.
    • Circulation Revenues at Rs 95.13 crore, up by 1.8% from Rs 93.42 crore.
    • Other Operating Revenues at Rs 50.07 crore as against Rs 56.13 crore.
    • Digital Revenue at Rs 20.43 crore as against Rs 20.78 crore.
    • Operating Profit at Rs 69.42 crore as against Rs 77.15 crore.
    • PBT at Rs 56.76 crore, up by 4.8% from Rs 54.18 crore.
    • PAT at Rs 43.89 crore, up by 8.4% from Rs 40.50 crore.
    • EPS (non-annualized) of Rs 2.05, up by 30.3% from Rs 1.57.
  • Standalone Q1FY24:
    • Operating Revenues at Rs 385.56 crore as against Rs 393.66 crore.
    • Advertisement Revenues at Rs 243.83 crore as against Rs Rs 247.65 crore.
    • Circulation Revenues at Rs 92.22 crore, up by 1.9% from Rs 90.54 crore.
    • Other Operating Revenues at Rs 49.51 crore as against Rs 55.47 crore.
    • Digital Revenue at Rs 14.43 crore as against Rs 16.78 crore.
    • Operating Profit at Rs 62.11 crore as against Rs 72.84 crore.
    • PBT at Rs 60.55 crore, up by 0.1% from Rs 60.07 crore.
    • PAT at Rs 47.48 crore, up by 5.4% from Rs 45.07 crore.
    • EPS (non-annualized) of Rs 2.18 up by 27.5% from Rs 1.71.

Commenting on the performance of the Company, Mahendra Mohan Gupta, Chairman and Managing Director, JPL said,

“The Indian economy continues to do well on the strength of government capex, unlike past decade in which growth was driven by consumption. Unfortunately, exports, start-ups, and manufacturing remain under pressure partly due to the global slowdown and partly due to lower discretionary consumption by mass domestically. Exceptionally high inflation in some of the food items has hurt this class, leaving very little in their pocket for spending on items that are not necessary for survival. This environment is not conducive to high or double-digit growth for the industries like media and entertainment. Volumes apart, passing on inflation to consumers continues to remain difficult as any attempt to increase price drops volumes disproportionately and quickly.

In this background and in light of the company’s strategy to hold price points to the extent possible and not in comparison with the competitors who have had certain specific advantages due to location, the company’s overall performance has to be viewed.

The company maintained the same revenues and profits as it reported in Q1FY23. Going forward, however, I expect improved revenues particularly in H2 benefitting from lower inflation and increased government spending and even more improved profits due to increased revenues coupled with newsprint cost savings due to moderation in prices which is not yet fully reflected in operating results.

Outdoor and Event businesses maintained robust performance over the last some quarters and have been contributing to the overall profit of the company. There was some fall in revenue during the quarter in comparison to Q1FY23 due to a shift in strategy to focus on more stable and profitable revenue streams which would continue. These businesses maintained profits of the last year despite a fall in revenue in Q1FY24.

The digital business had nearly the same revenue as in Q1FY23 partly because of unfavorable market conditions and partly because of the inability to monetize the consumer base to the expected level. However, operational metrics remain strong and I hope that the team will work towards generating revenues commensurate with the user base and the costs most of which are fixed in nature.

The radio business recorded strong growth in revenue as well as profit during the quarter. However, they are still behind pre-pandemic revenues by 30 - 35%. Further, its increasing dependence on revenue streams other than pure play radio is reducing the operating leverage. These areas are being closely monitored for taking appropriate action wherever required.”

 

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FINANCIALS

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Jagran Prakashan Ltd Stocks COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 1,747.30 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 15,612.36 -19,132.24
LAST 3M 53,075.98 -4,241.70
LAST 6M 58,662.39 138,824.89
LAST 12M 133,944.68 162,473.45

Jagran Prakashan Ltd Information

Stock PE (TTM)
13.32
Promoter Holding
69%
Book Value
80.2786
ROCE
8.86%
ROE
7.08%
Description
  • Jagran Prakashan Limited (JPL), a publisher company was born in 18th July of the year 1975 as a private limited under the name of Jagran Prakashan Private Limited. JPL`s birth was the pet project of the Indian freedom fighter Late Shri Puran Chandra Gupta. The Company is engaging in printing and publishing of newspapers, magazines, journals and media related businesses. The other activities of the Company comprises outdoor advertising business, event management and activation services and digital business. The Company had acquired the publication rights of `Dainik Jagran`, Kanpur, `Dainik Jagran`, Gorakhpur, `Daily Action`, Kanpur and a monthly magazine `Kanchan Prabha`, Kanpur. The plant and machinery required for publication of newspapers and magazines were also acquired by the way of a lease agreement in the year 1975. During the year 1979, JPL had launched the Lucknow Edition of Dainik Jagran and in the year 1986, launched the Agra edition of the same. The name of the company was changed for the first time from Jagran Prakashan Private Limited to Jagran Prakashan Limited with effect from 1st April of the year 1989. For the various purpose, the company had launched its website under the name of www.jagran.com in the year 1997. During March of the year 2000, the company had executed the separate business purchase agreements with Jagran Prakashan (Delhi) Private Limited (JPDPL), Jagran Prakashan (Varanasi) Private Limited (JPVPL), Rohilkhand Publications Private Limited (RPPL) and also in the same year acquired the entire undertakings (including all the assets and liabilities) on a lock, stock and barrel basis for publication of Dainik Jagran at various centres. In the year 2001, JPL had launched the Aligarh Edition of Dainik Jagran. During the year 2002, by a scheme of amalgamation between JPDPL, JPVPL, RPPL and company, sanctioned by the High Court of Allahabad, vide its order dated 1st June of the year 2002, the whole of the undertakings of each of JPDPL, JPVPL and RPPL were transferred to and vested in company since JPDPL, JPVPL and RPPL became wholly owned subsidiaries of the company. In the same year of 2002, Dainik Jagran was declared as India`s largest read daily newspaper. JPL had launched the Ranchi, Jamshedpur, Dhanbad, Panipat and Bhagalpur editions of Dainik Jagran in the year 2003. Followed by, in the year 2004, again the company had made its foot print in the Ludhiana and Haldwani by the way of new editions of Dainik Jagran launched in the same places. Also in the same year the company had started Jagran Solutions, division offering outdoor advertising and event management services. The name of the company was changed from Jagran Prakashan Limited to Jagran Prakashan Private Limited with effect from 5th October of the year 2004. In fiscal 2005, JPL had acquired the research business of Jagran Research Centre, a partnership firm for consideration of Rs 1.53 million. For the purpose of printing and publishing our newspaper Dainik Jagran` in Indore and, subsequently, from other places in the states of Madhya Pradesh and Chattisgarh, the company had incorporated Jagran Prakashan (MPC) in September of the year 2005. Also the Jagran Prakashan (MPC) Pvt Ltd had launched short code services (SMS and IVR/ASR). The Company tested its e-paper. The Company`s name was again reconverted from Jagran Prakashan Private Limited to Jagran Prakashan Limited with effect from 23rd November of the year 2005. Launched the Muzaffarpur, Jammu and Dharamshala editions of Dainik Jagran in the identical year of 2005. The Company had launched a new infotainment newspaper, called City Plus` in September of the year 2006 and in December, launched I-next`, its compact daily. During the year 2007, the company jointly with Yahoo India, launched the new co-branded Hindi news and current affairs Internet property. In December of the same year 2007, JPL made a 50:50 joint venture with Network18 for the business of print space. During 2009-2010, the company announced the merger of newspaper business of Mid-Day Multimedia Limited WITH ITSELF`. In 2011, the company launched a Urdu News paper by the name `Inquilab` and also a punjabi Newspaper by the name `Punjabi Jagran`. During 2012, the company acquired Suvi Info Management (Indore) Private Limited. During 2014, the company proposed to acquire Music Broadcast Private Limited India`s Leading Radio Network. Morn Media Limited (formerly known as Jagran Limited), which has not had any activity since long has ceased to be Associate Company of the Company with effect from September 29, 2014. The Board of Directors of the Company approved the entry of the Company into the radio business through acquisition of Music Broadcast Private Limited (now known as Music Broadcast Limited `MBL`) on December 16, 2014. After receiving the requisite approvals, the Company in June 2015 acquired 100% stake of Spectrum Holdings Private Limited, holding company of MBL. MBL shareholding is held by Spectrum 71.34%, Crystal Sound and Music Private Limited 21.48% and Music Broadcast Employees Welfare Trust 7.18%. The Board of Directors of the Company in their meeting held on 27 July 2015 have approved a Scheme of Arrangement for the amalgamation of SUVI, a 100% subsidiary of the Company with the Company. Appointed Date of Scheme is 1st January 2016 or such other date as may be agreed by the Transferor and Transferee Companies and approved by High Court. The Board of Directors of the Company in their meeting held on October 9, 2015 has approved the composite Scheme of Arrangement between Jagran Prakashan Limited (the Amalgamated Company or JPL) and Crystal Sound & Music Private Limited (Transferor Company 1) and Spectrum Broadcast Holdings Private Limited (Transferor Company 2) and Shri Puran Multimedia Limited (Demerged Company) and Music Broadcast Limited (Resulting Company) and their respective shareholders and creditors for the Transferor Companies to be amalgamated with the Amalgamated Company and Demerged Company to be demerged with Resulting Company. Appointed Date of the Scheme is 1st January 2016 or such other date as may be agreed by the Transferor Companies, Amalgamated Company, Resulting Company and the Demerged Company and as approved by High Courts. The Scheme of Arrangement for Amalgamation of Suvi-Info Management (Indore) Private Limited (Suvi) with Jagran Prakashan Limited (JPL) was sanctioned by the Hon`ble High Court of Allahabad by its order dated March 16, 2016 and the Hon`ble High Court of Bombay by its order dated December 2, 2016. The Scheme came into effect on December 27, 2016, which was the date on which a Certified Copy of the Order of the High Court of Bombay and High Court of Allahabad sanctioning the Scheme was filed with the Registrar of Companies, Mumbai and the Registrar of Companies, Uttar Pradesh with appointed dated of January 1, 2016. SUVI was a wholly owned subsidiary of the Company and therefore there was no issue of shares by the Company to the shareholders of SUVI. The composite scheme of arrangement for amalgamation of Crystal Sound & Music Private Limited (Crystal) and Spectrum Broadcast Holdings Private Limited (Spectrum) with Jagran Prakashan Limited (JPL) and the demerger of radio business undertaking of Shri Puran Multimedia Limited (SPML) into Music Broadcast Limited (MBL) was sanctioned by the Hon`ble High Court of Allahabad by its order dated September 22, 2016 and the Hon`ble High Court of Bombay by its order dated October 27, 2016. The Scheme became effective upon filing of the court orders with the respective Registrar of Companies of Uttar Pradesh on November 18, 2016 and Mumbai on November 17, 2016 with appointed dated of January 1, 2016. In terms of the Scheme, business and undertaking of Spectrum and Crystal were transferred to and vested in favour of JPL. As Crystal was a wholly owned subsidiary of Spectrum, which in turn was a wholly owned subsidiary of JPL, therefore there was no issue of shares by JPL to the shareholders of Crystal and Spectrum. Also, in terms of the Scheme, radio business undertaking of SPML, was transferred to and vested in favour of MBL and the shareholders of SPML were allotted 10 fully paid up equity shares of face value of Rs10/- each of MBL for every 112 equity shares of SPML held by them. As result of the above schemes, Suvi-Info Management (Indore) Private Limited, Crystal Sound & Music Private Limited and Spectrum Broadcast Holdings Private Limited subsidiaries of the Company ceased to be in existence. During the year under review, Music Broadcast Limited, subsidiary of the Company has completed its highly successful Initial Public Offer (IPO) and received an overwhelming response for the same, with an over subscription of about 40 times. It clearly demonstrate leadership position of MBL in the space that has been attended and sustained over period of years, as a result of tireless efforts and systematic approach to the business of the management. The equity shares of MBL were listed on both BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) on March 17, 2017. IPO of MBL comprised of a fresh issue of 12,012,012 equity shares and an offer for sale of 2,658,518 equity shares by selling shareholders for Rs 333/- per equity share (inclusive of premium of Rs 323/- per share). In April 2017, the Company had completed a buyback of 1,55,00,000 fully paid up equity shares of face value of Rs2 each representing 4.74% of the total number of outstanding equity shares of the Company at a price 195 per equity share for an aggregate amount of Rs3,02,25,00,000, on proportionate basis through the tender offer route. Accordingly, the share capital of the Company was reduced from Rs 65,38,23,658 (32,69,11,829 shares) to Rs 62,28,23,658 (31,14,11,829 shares). On April 27, 2018, the Board approved an yet another proposal for buyback of up to 1,50,00,000 fully paid up equity shares of face value of Rs2 each representing 4.82% of the total number of outstanding equity shares of the Company, at a price of Rs195 per equity share, for maximum amount of Rs 2,92,50,00,000 on proportionate basis through the tender offer route, subject to approval of the members of the Company by postal ballot/e-voting and also such other approvals, permissions and sanctions as may be required under law. The postal ballot/e-voting for obtaining approval of shareholder by way of special resolution is under progress as on the date of this Report. On November 9, 2017, Board of Directors of the Company approved to dispose off Company`s full shareholding in NML, wholly owned subsidiary of the Company at a consideration of Rs5 Lakh to its erstwhile promoter, Mr. Vinay Chhajlani (a non-related party) from whom the shares were acquired in the year 2012. Thereafter, on January 16, 2018 shares of Naidunia Media Limited (NML) held by the Company were transferred and NML ceased to be the subsidiary of the Company w.e.f January 16, 2018. During the year 2019, the Company made an additional strategic investment on September 04, 2018 in the equity shares of MMI Online Limited (MMI) through acquisition by way of purchase of 1,828,300 equity shares of Rs 10/- each, at a price of Rs 25.98/- per equity share, aggregating to Rs 475 Lakhs. This constitutes 37.41% of MMI`s share capital. The shareholding of Company in MMI post acquisition increased to to 44.92% from 7.51%. Accordingly, MMI became an Associate of the Company in terms of Section 2(6) of the Act. In December 2018, MBL completed a buy-back of 1,745,079 equity shares at an average price of Rs 326.61/- per equity share from the open market through stock exchange mechanism, and accordingly utilized Rs 5,699.63 Lakhs (excluding transaction costs) towards the buy-back of shares. Pursuant to the buy-back, the shareholding of the Company in MBL increased from 70.58% to 72.81%. The Board of Directors of its subsidiary, Music Broadcast Ltd. (MBL), at its meeting held on May 27, 2019, subject to entering into definitive binding agreements, approved:-a. Proposed investment, the terms of which are being finalised, in Reliance Broadcast Network Limited (RBNL) by way of a preferential allotment for a 24% equity stake for a consideration of Rs 202 Crores; and b. On receipt of all regulatory approvals, proposed acquisition of the entire stake held by the promoters of RBNL basis an enterprise value of Rs 1,050 Crores after making adjustment for variation, if any, for the year ended March 31,2019.

Registered Address

Jagran Building, 2 Sarvodaya Nagar, Kanpur, Uttar Pradesh, 208005

Tel : 91-512-2216161
Email : investor:jagran.com
Website : http://www.jplcorp.in
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 532705
NSE Code : JAGRAN
Book Closure Date (Month) :
BSE Group : B
ISIN : INE199G01027

FAQ’s on Jagran Prakashan Ltd Shares

You can buy Jagran Prakashan Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Jagran Prakashan Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Oct 04, 2023 03:58 PM the closing price of Jagran Prakashan Ltd was ₹ 102.15.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Oct 04, 2023 03:58 PM, the market cap of Jagran Prakashan Ltd stood at ₹ 2,223.34.

The latest PE ratio of Jagran Prakashan Ltd as of Oct 04, 2023 03:58 PM is 13.32

The latest PB ratio of Jagran Prakashan Ltd as of Oct 04, 2023 03:58 PM is 0.76

The 52-week high of Jagran Prakashan Ltd is ₹ 117.55 while the 52-week low is ₹ 62.30

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