Buy HT Media; target of Rs 129: Angel Broking

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26 Aug, 2025 12:21

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Angel Broking`s research report on HT Media“HT Media reported a subdued set of results for 2QFY2015, both on the top-line and the bottom-line front. The top-line growth was lower mainly due to lower growth in advertising revenue, primarily from the English edition, which although is showing signs of recovery. The company’s performance was subdued on the profitability front as well, owing to subdued sales growth and lower other income.” “HT Media’s Hindi subsidiary - HMVL - registered a double digit advertising revenue growth of ~12% yoy to Rs142cr on back of increase in yields and volume. English advertising revenue grew by 7.0% yoy to Rs278cr owing to improvement in market sentiment with increase in ad spend from automobile and real estate sectors in particular. The Management expects English advertising yield to go up after 2HFY2015, leading to improvement in English advertising revenues. For the quarter, HT Media posted a de-growth of ~25% in earnings to Rs44cr, owing to subdued sales growth and lower other income. Other income in the corresponding quarter of the previous year carried an amount of Rs38.2cr from the Burda stake sale and an amount of Rs8.6cr pertaining to the HMVL stake sale, thus leading to a higher base for the quarter under review (2QFY2015).” “Going forward, we believe that the company would perform well, both on the top-line and bottom-line fronts due to expected recovery in Indian economy. This would lead to increase in revenue from new businesses like HT Mumbai, Radio and the Hindi editions; further, we also expect the company to gain some traction in its Digital businesses. Moreover, the company has a strong balance sheet which would make it more capable to execute future expansion plans. Hence, we maintain our Buy recommendation on the stock with a target price of Rs129,” says Angel Broking research report.

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