KR Choksey is bullish on TV 18 Broadcast has recommended buy rating on the stock with a target price of Rs 43 in its research report dated April 17, 2019.
KR Choksey's research report on TV 18 Broadcast
TV18 reported its Q4 FY19 results with a consolidated net revenue of INR 11,815 Mn, a decline of 20% qoq. EBITDA stood at INR 517 Mn in Q4FY19 . EBITDA Margins were reported at 4.37% in Q4 FY19 vs a margin of 7.78% in Q3 FY19. EBIT came in at INR 173 Mn. Net Profit for Q4 was reported at INR 282 Mn. EPS for the quarter stood at INR 0.16 vs INR 0.02 in the previous quarter.
We maintain a BUY rating on the stock and assign EV/EBIDTA multiple of 18x to it’s FY21 EBIDTA of INR 4784 Mn to arrive at a target price of INR 43.