D B Corp Ltd

About

D. B. Corp is Indias largest Newspaper Group, and a leading and diversified media player. We enjoy a dominant position across major markets, states and languages.(Source : 201903 Annual Report Page No: 04)

  • Market Cap 1,615 Cr.
  • Current Price 91.2
  • High / Low 125 / 75.4
  • Stock P/E 8.82
  • Book Value 103
  • Dividend Yield 3.29 %
  • ROCE 10.1 %
  • ROE 7.65 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.88 times its book value
  • Company has been maintaining a healthy dividend payout of 54.87%

Cons

  • The company has delivered a poor sales growth of -5.95% over past five years.
  • Company has a low return on equity of 12.74% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
660 589 607 531 599 487 210 346 494 457 304 447
520 484 432 433 457 421 243 275 329 355 303 346
Operating Profit 140 104 176 98 142 66 -33 71 166 101 1 101
OPM % 21% 18% 29% 19% 24% 14% -16% 21% 34% 22% 0% 23%
Other Income 2 3 4 2 3 3 5 3 2 17 4 4
Interest 2 2 5 6 6 7 7 7 6 5 6 5
Depreciation 25 24 30 30 30 30 29 29 29 28 28 28
Profit before tax 115 81 144 64 108 32 -64 39 133 85 -28 73
Tax % 34% 32% 35% -18% 25% 25% 25% 26% 26% 27% 21% 26%
Net Profit 76 54 94 76 82 24 -48 29 99 62 -22 54
EPS in Rs 4.32 3.11 5.36 4.32 4.67 1.37 -2.75 1.63 5.66 3.54 -1.27 3.07

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,051 1,260 1,452 1,592 1,860 2,010 2,049 2,258 2,311 2,463 2,224 1,508 1,702
720 860 1,111 1,212 1,358 1,446 1,512 1,614 1,746 1,957 1,740 1,201 1,333
Operating Profit 331 400 341 380 502 564 538 644 565 506 484 307 369
OPM % 31% 32% 23% 24% 27% 28% 26% 29% 24% 21% 22% 20% 22%
Other Income 23 19 22 20 23 24 21 15 23 15 10 25 27
Interest 36 17 12 10 8 8 14 7 7 8 25 24 21
Depreciation 38 43 51 58 64 88 85 86 92 99 121 115 113
Profit before tax 281 359 301 331 452 492 460 565 488 414 348 193 263
Tax % 38% 28% 33% 34% 32% 36% 36% 34% 34% 34% 21% 27%
Net Profit 183 258 202 218 307 316 292 375 324 274 275 141 192
EPS in Rs 10.07 14.10 11.03 11.90 16.71 17.23 15.90 20.38 17.60 15.66 15.72 8.08 11.00
Dividend Payout % 20% 28% 45% 46% 43% 45% 69% 40% 1% 64% 64% 37%
Compounded Sales Growth
10 Years: 2%
5 Years: -6%
3 Years: -13%
TTM: 4%
Compounded Profit Growth
10 Years: -6%
5 Years: -14%
3 Years: -26%
TTM: 113%
Stock Price CAGR
10 Years: -8%
5 Years: -24%
3 Years: -20%
1 Year: 13%
Return on Equity
10 Years: 19%
5 Years: 16%
3 Years: 13%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
182 183 183 183 183 184 184 184 184 175 175 175 175
Reserves 466 646 744 846 963 1,105 1,214 1,410 1,745 1,652 1,503 1,648 1,651
Borrowings 321 211 213 163 154 124 137 81 45 51 345 248 231
274 315 405 441 468 493 417 409 481 516 463 405 367
Total Liabilities 1,242 1,355 1,545 1,633 1,770 1,905 1,951 2,084 2,455 2,394 2,486 2,476 2,425
586 668 748 831 850 816 867 910 1,002 986 1,221 1,202 1,152
CWIP 61 41 45 7 2 4 46 21 21 1 1 0 0
Investments 20 16 46 81 72 69 71 27 36 37 18 14 14
574 630 706 714 845 1,016 968 1,126 1,397 1,370 1,245 1,259 1,258
Total Assets 1,242 1,355 1,545 1,633 1,770 1,905 1,951 2,084 2,455 2,394 2,486 2,476 2,425

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
236 264 231 241 259 425 341 360 364 235 363 374
-187 -48 -90 -76 -104 -153 -183 -32 -198 -21 -154 -137
-39 -165 -102 -182 -165 -205 -245 -244 -42 -381 -307 -151
Net Cash Flow 10 51 39 -17 -10 67 -87 84 124 -166 -98 86

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 67 70 62 71 64 63 67 68 87 94 104 120
Inventory Days 80 69 85 87 100 79 99 110 80 99 120 202
Days Payable 127 72 77 64 64 68 70 116 129 117 132 199
Cash Conversion Cycle 20 66 70 93 100 73 96 62 38 76 92 123
Working Capital Days 56 49 31 39 38 28 57 71 76 92 99 120
ROCE % 35% 37% 29% 29% 37% 37% 32% 36% 27% 22% 19% 10%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
71.62 71.61 71.61 71.60 71.60 71.66 71.66 71.78 71.82 71.81 71.81 71.81
18.63 18.88 18.14 17.54 17.69 17.39 16.62 15.63 14.83 13.23 12.48 12.21
1.93 1.98 2.61 3.89 3.89 3.88 3.91 4.11 4.22 4.22 4.13 4.13
7.82 7.53 7.64 6.97 6.82 7.08 7.81 8.48 9.14 10.74 11.57 11.85

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