D B Corp Ltd

₹ 111 1.87%
25 Nov - close price
About

D.B. Corp Ltd is engaged in the business of publishing newspapers, radio broadcasting, providing integrated internet and mobile interactive services and event management. Its major brands include Dainik Bhaskar (Hindi daily), Divya Bhaskar and Saurashtra Samachar (Gujarat daily) and Divya Marathi (Marathi daily).[1]

Key Points

Newsprint Division (~94% of revenues)[1]
Presently, the company publishes 5 newspapers with 64 editions, 211 sub-editions in three languages. Its newspaper brands include 'Dainik Bhaskar', 'Divya Bhaskar', 'Divya Marathi', 'DB Star' and 'Saurashtra Samachar'.[2]
It also publishes various magazines and supplements such as Bal Bhaskar, Young Bhaskar, Madhurima, Navrang, Kalesh, Dharmdarshan, Rasik and Lakshya.[2]

  • Market Cap 1,974 Cr.
  • Current Price 111
  • High / Low 157 / 72.6
  • Stock P/E 10.3
  • Book Value 105
  • Dividend Yield 4.49 %
  • ROCE 10.4 %
  • ROE 7.81 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.06 times its book value
  • Company has been maintaining a healthy dividend payout of 54.3%
  • Promoter holding has increased by 1.35% over last quarter.

Cons

  • The company has delivered a poor sales growth of -4.77% over past five years.
  • Company has a low return on equity of 10.4% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
531 599 487 210 346 494 457 304 447 546 472 494 538
433 457 421 243 275 329 355 303 346 404 414 427 448
Operating Profit 98 142 66 -33 71 166 101 1 101 142 58 68 90
OPM % 19% 24% 14% -16% 21% 34% 22% 0% 23% 26% 12% 14% 17%
2 3 3 5 3 2 17 4 4 4 8 6 8
Interest 6 6 7 7 7 6 5 6 5 2 6 5 5
Depreciation 30 30 30 29 29 29 28 28 28 28 27 27 28
Profit before tax 64 108 32 -64 39 133 85 -28 73 116 33 42 65
Tax % -18% 25% 25% 25% 26% 26% 27% 21% 26% 26% 27% 26% 25%
Net Profit 76 82 24 -48 29 99 62 -22 54 87 25 31 49
EPS in Rs 4.32 4.67 1.37 -2.75 1.63 5.66 3.54 -1.27 3.07 4.89 1.38 1.75 2.75
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,260 1,452 1,592 1,860 2,010 2,049 2,258 2,311 2,463 2,224 1,508 1,769 2,050
860 1,111 1,212 1,358 1,446 1,512 1,614 1,746 1,957 1,740 1,201 1,463 1,692
Operating Profit 400 341 380 502 564 538 644 565 506 484 307 306 358
OPM % 32% 23% 24% 27% 28% 26% 29% 24% 21% 22% 20% 17% 17%
19 22 20 23 24 21 15 23 15 10 25 17 26
Interest 17 12 10 8 8 14 7 7 8 25 24 18 18
Depreciation 43 51 58 64 88 85 86 92 99 121 115 110 109
Profit before tax 359 301 331 452 492 460 565 488 414 348 193 195 257
Tax % 28% 33% 34% 32% 36% 36% 34% 34% 34% 21% 27% 27%
Net Profit 259 202 218 307 316 292 375 324 274 275 141 143 191
EPS in Rs 14.10 11.03 11.90 16.71 17.23 15.90 20.38 17.60 15.66 15.72 8.08 8.05 10.77
Dividend Payout % 28% 45% 46% 43% 45% 69% 40% 1% 64% 64% 37% 62%
Compounded Sales Growth
10 Years: 2%
5 Years: -5%
3 Years: -10%
TTM: 20%
Compounded Profit Growth
10 Years: -3%
5 Years: -17%
3 Years: -19%
TTM: 4%
Stock Price CAGR
10 Years: -6%
5 Years: -21%
3 Years: -8%
1 Year: 16%
Return on Equity
10 Years: 18%
5 Years: 13%
3 Years: 10%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
183 183 183 183 184 184 184 184 175 175 175 177 177
Reserves 646 744 846 963 1,105 1,214 1,410 1,745 1,652 1,503 1,648 1,705 1,682
211 213 163 154 124 137 81 45 51 345 248 199 202
315 405 441 468 493 417 409 481 516 463 405 456 519
Total Liabilities 1,355 1,545 1,633 1,770 1,905 1,951 2,084 2,455 2,394 2,486 2,476 2,537 2,580
668 748 831 850 816 867 910 1,002 986 1,221 1,202 1,154 1,112
CWIP 41 45 7 2 4 46 21 21 1 1 0 0 4
Investments 16 46 81 72 69 71 27 36 37 18 14 14 40
630 706 714 845 1,016 968 1,126 1,397 1,370 1,245 1,259 1,369 1,424
Total Assets 1,355 1,545 1,633 1,770 1,905 1,951 2,084 2,455 2,394 2,486 2,476 2,537 2,580

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
264 231 241 259 425 341 360 364 235 363 374 371
-48 -90 -76 -104 -153 -183 -32 -198 -21 -154 -137 -224
-165 -102 -182 -165 -205 -245 -244 -42 -381 -307 -151 -155
Net Cash Flow 51 39 -17 -10 67 -87 84 124 -166 -98 86 -7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 70 62 71 64 63 67 68 87 94 104 120 99
Inventory Days 69 85 87 100 79 99 110 80 99 120 202 142
Days Payable 72 77 64 64 68 70 116 129 117 132 158 159
Cash Conversion Cycle 66 70 93 100 73 96 62 38 76 92 164 82
Working Capital Days 38 22 33 33 24 35 67 76 92 99 120 86
ROCE % 37% 29% 29% 37% 37% 32% 36% 27% 22% 19% 10% 10%

Shareholding Pattern

Numbers in percentages

14 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
71.60 71.66 71.66 71.78 71.82 71.81 71.81 71.81 71.08 71.00 70.97 72.33
17.69 17.39 16.62 15.63 14.83 13.23 12.48 12.21 12.42 12.84 12.48 12.97
3.89 3.88 3.91 4.11 4.22 4.22 4.13 4.13 4.15 4.28 4.11 4.09
6.82 7.08 7.81 8.48 9.14 10.74 11.57 11.85 12.35 11.88 12.44 10.62

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