Moneycontrol PRO
Upcoming Webinar:Innovate Your Future at India Inc. on the Move on August 26 and 27, 2021 at 10am, with Rockwell Automation

Buy DB Corp; target of Rs 251: Dolat Capital

Dolat Capital is bullish on DB Corp has recommended buy rating on the stock with a target price of Rs 251 in its research report dated July 18, 2019.

July 19, 2019 / 02:43 PM IST
  • bselive
  • nselive
Todays L/H

Dolat Capital's research report on DB Corp

DBCL’s 1QFY20 performance was weak due to a 4% YoY decline in advertising revenue. However, RM tailwinds (-6% YoY) and costs efficiencies (-12% YoY) supported EBITDA (+4.4% YoY). IndAS 116 implementation had positive impact on EBITDA of ` 90mn and negative on PAT of ` 10mn. DBCL’s flagship daily, the Dainik Bhaskar, is the 2nd most widely read Hindi daily, as per the IRS. But, DBCL leads in advertising revenue led by better and diversified state-mix of readership.


We estimate revenue/EBITDA/earnings to grow at a CAGR of 2.2/18.6/15.6% over FY19-21E led by economic recovery and thus in advertising revenue. This is aided by softened newsprint prices. Our rating is BUY, with a TP of ` 251 (+42%) @ 12x FY21E EPS (a discount of 35% to 3/5/10 years avg PE).

For all recommendations report, click here

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

Broker Research
first published: Jul 19, 2019 02:43 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark