Hold DB Corp: target of Rs 95: ICICI Direct

ICICI Direct's research report on DB Corp

DB Corp (DB Corp) is India’s largest print media company that publishes five newspapers in three multiple languages (Hindi, Gujarati and Marathi) across 12 states in India. Other segments of the company include radio (MY FM) with a presence in seven states, 30 cities and digital business

Outlook

We maintain our HOLD rating as growth trajectory of print post normalisation does not have the visibility while higher newsprint prices risks on margins remain We value DB Corp at Rs 95 i.e. 6x FY23E P/E.