Moneycontrol
Feb 15, 2018 02:10 AM IST | Source: Moneycontrol.com

Buy Jagran Prakashan; target of Rs 215: Motilal Oswal

Motilal Oswal is bullish on Jagran Prakashan has recommended buy rating on the stock with a target price of Rs 215 in its research report dated January 31, 2018.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Motilal Oswal's research report on Jagran Prakashan


Consol. revenue came in flat YoY at INR5.98b (2% beat), as a drop in print ad revenue was offset by growth in other segments. Consol. EBITDA declined 13% YoY to INR1.6b (5% beat) due to a 9% YoY rise in SGA expenses, with the margin contracting 380bp YoY to 27.2% (~70bp beat). The impact, however, was partly mitigated by a 15% YoY decline in interest cost and a 38% YoY rise in other income. PAT fell 13% YoY (+22% QoQ) to INR848m (5% miss).

Outlook

We believe easing of GST hiccups should also bode well. We roll forward our valuation to Dec-19E, assigning 15x EPS (three-year average P/E) to arrive at a TP of INR215 (v/s 225 earlier). Maintain Buy.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sections
Follow us on
Available On