Music Broadcast Ltd

Music Broadcast Ltd

₹ 23.0 0.22%
23 Feb - close price
About

Music Broadcast Limited is a subsidiary of Jagran Prakashan Ltd. It runs radio channel Radio City.
Being the first FM radio broadcaster in India and with 19 years of expertise in the radio industry, Radio City is the second largest operator today.

Key Points

Market Share
In FY22, co. maintained a 21% market share and 43% client count share in the radio industry. [1]
Region wise Radio City has consistently been the number one radio station in Bengaluru and Mumbai with 25% and ~15% average listenership share respectively.In Delhi it ranks #3 with 12% average listenership share. [2]

  • Market Cap 793 Cr.
  • Current Price 23.0
  • High / Low 25.4 / 9.55
  • Stock P/E 255
  • Book Value 15.2
  • Dividend Yield 0.00 %
  • ROCE 1.35 %
  • ROE 0.46 %
  • Face Value 2.00

Pros

  • Debtor days have improved from 169 to 121 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -7.79% over past five years.
  • Company has a low return on equity of -1.95% over last 3 years.
  • Earnings include an other income of Rs.22.3 Cr.

* 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

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
40.67 42.48 20.48 42.04 59.89 46.02 44.14 48.64 54.67 51.41 53.03 52.44 60.44
36.51 39.58 33.68 37.47 42.11 44.13 39.88 44.58 45.33 45.99 45.96 46.06 50.95
Operating Profit 4.16 2.90 -13.20 4.57 17.78 1.89 4.26 4.06 9.34 5.42 7.07 6.38 9.49
OPM % 10.23% 6.83% -64.45% 10.87% 29.69% 4.11% 9.65% 8.35% 17.08% 10.54% 13.33% 12.17% 15.70%
5.02 2.26 3.88 4.79 3.88 4.25 4.50 4.83 5.21 5.17 5.65 5.71 5.81
Interest 0.83 0.73 0.68 0.66 0.66 0.65 0.53 0.51 0.53 2.35 2.40 2.47 2.44
Depreciation 8.24 8.21 8.19 8.20 8.20 8.16 8.21 8.23 8.18 8.17 8.23 8.28 8.42
Profit before tax 0.11 -3.78 -18.19 0.50 12.80 -2.67 0.02 0.15 5.84 0.07 2.09 1.34 4.44
Tax % 36.36% -2.38% 28.86% 40.00% 29.69% 22.85% 0.00% 26.67% 29.97% 1,200.00% 54.55% 72.39% 42.12%
0.07 -3.87 -12.94 0.29 9.01 -2.06 0.01 0.10 4.09 -0.77 0.94 0.37 2.57
EPS in Rs 0.00 -0.11 -0.37 0.01 0.26 -0.06 0.00 0.00 0.12 -0.02 0.03 0.01 0.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
122 138 154 201 225 271 298 325 248 128 168 199 217
96 104 112 139 149 180 201 212 191 139 157 176 189
Operating Profit 26 34 42 62 77 91 97 113 57 -11 11 23 28
OPM % 21% 24% 27% 31% 34% 34% 33% 35% 23% -9% 7% 12% 13%
2 2 3 7 2 4 19 15 16 15 17 20 22
Interest 7 5 6 6 21 19 15 6 10 3 3 4 10
Depreciation 23 20 15 16 17 20 26 27 35 33 33 33 33
Profit before tax -2 12 24 47 42 57 75 96 29 -33 -8 6 8
Tax % 0% 0% 0% 0% 34% 36% 31% 36% 2% 26% 25% 43%
-2 12 24 47 28 37 52 62 28 -24 -6 3 3
EPS in Rs -0.08 0.44 0.93 1.80 1.05 1.03 1.45 1.78 0.82 -0.70 -0.16 0.10 0.09
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 4%
5 Years: -8%
3 Years: -7%
TTM: 12%
Compounded Profit Growth
10 Years: -14%
5 Years: -44%
3 Years: -49%
TTM: 45%
Stock Price CAGR
10 Years: %
5 Years: -12%
3 Years: -2%
1 Year: 90%
Return on Equity
10 Years: %
5 Years: 1%
3 Years: -2%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 39 39 39 39 42 57 57 55 69 69 69 69 69
Reserves -66 -53 -28 19 168 491 543 548 563 541 534 456 457
Preference Capital 0 0 0 0 0 0 0 0 0 0 0 0
173 149 128 285 223 150 50 74 22 23 19 98 105
35 36 31 55 57 63 49 53 34 23 31 33 36
Total Liabilities 181 171 170 398 490 761 699 731 688 657 654 656 668
59 42 32 19 230 312 297 310 309 283 255 233 226
CWIP 2 1 0 0 66 0 0 0 0 0 0 0 0
Investments 0 0 0 0 15 27 156 172 208 202 219 220 227
120 127 138 379 179 423 246 249 170 172 180 203 215
Total Assets 181 171 170 398 490 761 699 731 688 657 654 656 668

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
21 34 36 65 61 79 40 86 49 5 23 30
5 -2 -5 -201 -60 -211 3 -44 32 4 -18 -24
-24 -27 -26 160 -32 205 -116 -40 -89 -7 -7 -8
Net Cash Flow 2 6 6 24 -31 73 -72 2 -7 2 -2 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 186 171 149 140 123 110 135 141 156 221 164 121
Inventory Days
Days Payable
Cash Conversion Cycle 186 171 149 140 123 110 135 141 156 221 164 121
Working Capital Days 112 99 57 436 -9 -71 107 45 144 224 153 174
ROCE % 3% 12% 22% 22% 19% 13% 12% 14% 4% -5% -1% 1%

Shareholding Pattern

Numbers in percentages

6 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.05% 74.05% 74.05% 74.05% 74.05% 74.05% 74.05% 74.05% 74.05% 74.05% 74.05% 74.05%
0.14% 0.15% 0.14% 0.14% 0.16% 0.13% 0.14% 0.09% 0.00% 0.00% 0.00% 0.04%
8.06% 5.49% 5.47% 5.47% 5.47% 5.47% 5.47% 5.47% 5.06% 4.90% 1.40% 0.00%
17.75% 20.31% 20.34% 20.34% 20.31% 20.35% 20.34% 20.40% 20.89% 21.06% 24.55% 25.91%
No. of Shareholders 27,65540,46135,63534,11133,62033,10231,50530,11632,64632,93334,80643,742

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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