Sandesh Ltd

₹ 968 0.94%

17 Jun - close price

About

Incorporated in 1943, Sandesh Ltd is in
the business of editing, printing, and publishing newspapers and periodicals, and also runs a Gujarati news channel^[1]

Key Points

Business Overview:^[1]^[2]
TSL, part of the Sandesh group, is one of the top three print media players in Gujarat and publishes the Gujarati daily newspaper Sandesh. With printing presses in Ahmedabad, Vadodara, Surat, Rajkot, Bhavnagar, and Bhuj, it circulates across Gujarat and Mumbai. The company also runs the Gujarati TV news channel "Sandesh Telecast" and offers an e-paper via its web portal and mobile app.

Website BSE NSE

Market Cap ₹ 733 Cr.
Current Price ₹ 968
High / Low ₹ 1,500 / 811
Stock P/E 10.7
Book Value ₹ 1,883
Dividend Yield 0.52 %
ROCE 7.16 %
ROE 4.95 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.51 times its book value
Company is expected to give good quarter
Debtor days have improved from 49.0 to 36.1 days.

Cons

The company has delivered a poor sales growth of 10.0% over past five years.
Company has a low return on equity of 8.69% over last 3 years.
Dividend payout has been low at 4.17% of profits over last 3 years
Working capital days have increased from 310 days to 723 days

* 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

Consumer Discretionary Media, Entertainment & Publication Media Print Media

Part of BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	77	72	72	91	86	68	70	79	75	73	77	77	210
	70	56	57	65	60	53	54	120	63	54	72	56	245
Operating Profit	8	16	15	26	26	16	16	-41	12	18	5	20	-35
OPM %	10%	23%	20%	28%	30%	23%	22%	-52%	17%	25%	7%	27%	-16%
	8	29	21	49	66	50	47	3	4	55	4	30	6
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Profit before tax	14	44	34	73	90	64	61	-40	14	72	8	49	-31
Tax %	17%	24%	23%	21%	20%	21%	38%	-48%	30%	19%	44%	20%	11%
	11	33	26	58	72	50	38	-21	10	58	4	39	-34
EPS in Rs	14.94	43.77	34.27	76.23	95.01	66.70	50.32	-27.61	12.92	77.07	5.67	51.59	-45.27
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	345	374	354	375	417	341	272	307	339	320	292	438
	248	246	248	257	330	271	197	231	244	238	223	350
Operating Profit	97	128	106	118	87	70	75	76	96	82	69	88
OPM %	28%	34%	30%	31%	21%	20%	28%	25%	28%	26%	24%	20%
	1	4	14	14	20	12	49	48	44	166	38	16
Interest	4	2	1	0	0	0	0	0	0	0	0	0
Depreciation	8	8	8	9	9	8	7	6	6	6	7	7
Profit before tax	86	123	111	123	97	74	116	118	134	241	99	97
Tax %	34%	35%	36%	35%	35%	21%	23%	24%	24%	22%	22%	31%
	57	80	71	80	63	58	89	90	102	189	77	67
EPS in Rs	75.36	105.24	93.65	105.32	83.38	77.10	117.99	118.32	134.78	249.28	102.33	89.04
Dividend Payout %	5%	5%	5%	5%	6%	6%	4%	4%	4%	2%	5%	6%

Compounded Sales Growth
10 Years:	2%
5 Years:	10%
3 Years:	9%
TTM:	50%

Compounded Profit Growth
10 Years:	-1%
5 Years:	-5%
3 Years:	-11%
TTM:	-11%

Stock Price CAGR
10 Years:	2%
5 Years:	4%
3 Years:	2%
1 Year:	-17%

Return on Equity
10 Years:	9%
5 Years:	9%
3 Years:	9%
Last Year:	5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	8	8	8	8	8	8	8	8	8	8	8
Reserves	447	563	582	657	716	770	877	939	1,044	1,250	1,342	1,418
	10	14	2	0	0	0	0	0	0	0	0	0
	84	118	95	87	69	55	75	63	62	87	88	99
Total Liabilities	549	702	686	752	793	832	960	1,010	1,113	1,345	1,438	1,524
	71	73	126	138	132	128	120	110	111	110	106	105
CWIP	1	0	11	0	0	0	0	0	0	1	0	0
Investments	171	393	285	387	497	419	508	508	662	974	1,133	1,002
	307	236	264	227	163	285	331	392	339	260	198	417
Total Assets	549	702	686	752	793	832	960	1,010	1,113	1,345	1,438	1,524

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	55	97	96	80	48	-90	48	22	84	154	68	-144
	-22	-39	-31	-112	-102	86	-40	33	-106	-131	-109	147
	-50	-4	-17	-6	-5	-5	-4	-4	-4	-4	-2	-2
Net Cash Flow	-17	55	49	-38	-58	-10	4	51	-26	20	-43	1
Free Cash Flow	44	88	78	71	44	-91	51	25	84	150	65	-149
CFO/OP	85%	109%	129%	103%	91%	-94%	96%	68%	115%	216%	127%	-125%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	60	62	68	69	64	72	68	50	43	54	57	36
Inventory Days	158	68	128	128	48	66	125	132	47	61	109	441
Days Payable	18	37	37	50	24	18	87	27	27	33	47	41
Cash Conversion Cycle	200	92	158	146	89	120	106	155	64	83	119	436
Working Capital Days	100	2	48	55	58	217	138	145	98	121	84	723
ROCE %	19%	24%	19%	20%	14%	10%	14%	11%	13%	21%	8%	7%

Insights

In beta

Mar 2014

Mar 2015

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Mar 2021

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Advertisement Revenue
₹ in Lacs

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		xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
			xx,xxx	xx,xxx			xx,xxx	xx,xxx	xx,xxx	xx,xxx
					x				x		x

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Circulation Revenue (Sale of Publications)
₹ in Lacs

Cost of Newsprint (Material Consumed)
₹ in Lacs

Total Number of Permanent Employees
Number

Raw Material Newsprint Rate (Average)
₹ per MT

Number of Press Units
Number

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%
	0.00%	0.00%	0.00%	0.01%	0.05%	0.16%	0.15%	0.14%	0.10%	0.09%	0.09%	0.09%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%
	25.20%	25.19%	25.19%	25.17%	25.14%	25.02%	25.04%	25.04%	25.07%	25.07%	25.08%	25.09%
No. of Shareholders	5,966	5,934	5,629	6,443	6,343	6,951	7,286	7,548	7,372	7,404	7,177	6,980

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.14%	0.09%
	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%
	25.17%	25.15%	25.18%	25.18%	25.18%	25.18%	25.18%	25.17%	25.04%	25.09%
No. of Shareholders	5,340	5,538	5,610	5,182	4,834	5,531	6,135	6,443	7,548	6,980

* 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.

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Sandesh Ltd

Sandesh Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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