Moneycontrol Be a Pro
Get App
Last Updated : Jan 23, 2017 03:37 PM IST | Source:

Buy Hindustan Media Ventures; target of Rs 355: Motilal Oswal

Motilal Oswal is bullish on Hindustan Media Ventures has recommended buy rating on the stock with a target price of Rs 355 in its research report dated January 18, 2017.

  • bselive
  • nselive
Todays L/H

Motilal Oswal's report on Hindustan Media Ventures

HMVL’s 3QFY17 EBITDA declined 32% YoY to INR 409m (v/s est. of INR 522m), led by a double whammy of demonetization-led ad pain and nine-month adjustment for net charges paid to its carved-out multimedia content management arm HTDSL. Consequently, reported EBITDA/PAT were lower INR 0.17b/ INR 11.1b. PAT of INR 438m (-7.5% YoY) was largely in line with our estimate. Revenue declined 4% YoY to INR 2.3b.


We marginally cut our EPS estimates for FY17/FY18/FY19 and expect EPS CAGR of 10.5% over FY16-19, led by CAGR of 9%/6% in ad/circulation revenue. HMVL trades at 9.1x FY18E EPS/8.1x FY19E EPS. Maintain Buy with a TP of INR 355 based on 11x Dec 2018 EPS.

For all recommendations, click here

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.

LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Jan 23, 2017 03:37 pm
Follow us on
Available On