Music Broadcast Ltd
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.
- Market Cap ₹ 558 Cr.
- Current Price ₹ 16.2
- High / Low ₹ 25.4 / 9.85
- Stock P/E 180
- Book Value ₹ 15.2
- Dividend Yield 0.00 %
- ROCE 1.35 %
- ROE 0.46 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 1.06 times its book value
- 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.
Peer comparison
Sector: Entertainment Industry: Entertainment / Electronic Media Software
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
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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: | -19% |
3 Years: | -12% |
1 Year: | 64% |
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% |
Documents
Announcements
- Closure of Trading Window 21 Mar
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
1 Feb - Earning call Transcript for the third quarter ended December 31, 2023
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
25 Jan - Audio Recording of Earnings Call on Financial Results for the quarter and nine months ended on December 31, 2023
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Announcement under Regulation 30 (LODR)-Newspaper Publication
24 Jan - Newspaper Publication for Un-Audited Financial Results for third quarter and nine months ended December 31, 2023
- Announcement under Regulation 30 (LODR)-Investor Presentation 23 Jan
Annual reports
Concalls
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Jan 2022TranscriptNotesPPT
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Oct 2021TranscriptNotesPPT
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Oct 2020Transcript PPT
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Nov 2019Transcript PPT
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Oct 2018Transcript PPT
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Jan 2018Transcript PPT
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Nov 2017Transcript PPT
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Aug 2017Transcript PPT
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May 2017Transcript PPT
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]