Jagran Prakashan Ltd

Jagran Prakashan is engaged primarily in printing and publication of Newspaper and Magazines in India. The other activities of the company comprise outdoor advertising business, event management and activation services and digital business.

Pros:
Company is virtually debt free.
Stock is trading at 0.89 times its book value
Stock is providing a good dividend yield of 6.05%.
Company has been maintaining a healthy dividend payout of 33.06%
Cons:
The company has delivered a poor growth of 6.77% over past five years.

Peer Comparison Sector: Media - Print/Television/Radio // Industry: Entertainment / Electronic Media Software

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
602 562 591 567 598 548 603 553 614 593 584 514
415 418 430 428 435 428 439 454 481 455 443 424
Operating Profit 187 144 161 139 163 120 164 100 133 138 141 90
OPM % 31% 26% 27% 24% 27% 22% 27% 18% 22% 23% 24% 17%
Other Income 8 13 12 13 11 11 5 7 16 13 4 14
Interest 9 8 7 7 8 5 3 5 9 8 9 8
Depreciation 33 35 33 34 34 35 31 31 33 33 36 36
Profit before tax 153 114 133 110 132 92 135 70 106 110 101 60
Tax % 36% 29% 33% 34% 34% 32% 34% 36% 34% 36% 35% -110%
Net Profit 97 81 87 70 85 59 85 42 67 66 64 122
EPS in Rs 3.00 2.48 2.82 2.32 2.72 1.89 2.74 1.40 2.25 2.24 2.17 4.12
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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 TTM
1,221 1,356 1,522 1,703 1,770 2,079 2,283 2,304 2,363 2,305
867 1,059 1,240 1,346 1,323 1,489 1,643 1,721 1,829 1,804
Operating Profit 354 296 281 356 446 590 640 583 534 502
OPM % 29% 22% 18% 21% 25% 28% 28% 25% 23% 22%
Other Income 26 46 130 63 112 94 41 47 41 47
Interest 9 16 31 35 37 55 35 27 26 35
Depreciation 65 71 126 79 104 122 129 136 128 138
Profit before tax 306 256 255 306 418 508 517 467 421 377
Tax % 32% 30% 0% 26% 26% 31% 32% 33% 35%
Net Profit 208 178 255 226 308 351 348 300 261 319
EPS in Rs 6.01 5.07 7.36 6.22 8.71 10.73 10.63 9.63 8.79 10.78
Dividend Payout % 53% 62% 26% 58% 37% 0% 28% 31% 40%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:6.77%
3 Years:4.35%
TTM:0.14%
Compounded Profit Growth
10 Years:%
5 Years:3.76%
3 Years:-5.32%
TTM:17.72%
Stock Price CAGR
10 Years:-7.46%
5 Years:-16.83%
3 Years:-30.64%
1 Year:-48.90%
Return on Equity
10 Years:%
5 Years:16.38%
3 Years:14.24%
Last Year:12.22%

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 Sep 2019
63 63 63 62 63 65 65 62 59 59
Reserves 639 689 869 899 1,071 1,555 2,090 1,977 1,816 1,877
Borrowings 192 668 484 490 648 591 308 148 406 198
357 442 400 477 477 502 804 845 870 963
Total Liabilities 1,251 1,862 1,820 1,931 2,261 2,713 3,267 3,033 3,152 3,098
472 865 778 791 773 1,422 1,492 1,476 1,493 1,515
CWIP 52 66 131 114 72 145 76 12 3 4
Investments 200 252 222 332 357 362 535 523 506 525
527 678 688 694 1,058 783 1,165 1,021 1,150 1,054
Total Assets 1,251 1,862 1,820 1,931 2,261 2,713 3,267 3,033 3,152 3,098

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
233 227 202 331 439 425 477 391 285
-224 -213 -164 -170 -441 156 -419 102 -58
-21 7 -31 -188 17 -573 63 -605 -224
Net Cash Flow -12 22 7 -28 15 7 121 -113 2

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
ROCE % 22% 19% 21% 22% 24% 22% 20% 19%
Debtor Days 69 78 77 73 75 79 82 96 98
Inventory Turnover 19.17 18.93 18.59 18.36 26.03 28.47 28.82 20.17