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Consolidated net sales of D B Corp for the quarter ended Mar 2022 has increased 3.37% to Rs 471.97 crore driven by 9% growth in radio advertisement revenue, 4% growth in print circulation revenue and 2% growth in print advertisement revenue. Operating profit margin has declined from 22.15% to 12.38%, leading to 42.24% decline in operating profit to Rs 58.41 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 26.54% to 33.20%. Employee cost decreased from 23.21% to 20.39%. Other expenses rose from 28.12% to 34.06%. Other income rose 122.88% to Rs 7.89 crore. PBIDT fell 36.65% to Rs 66.3 crore. Provision for interest rose 22.55% to Rs 5.87 crore. PBDT fell 39.49% to Rs 60.43 crore. Provision for depreciation fell 4.23% to Rs 26.97 crore. Profit before tax down 53.34% to Rs 33.46 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 8.94 crore, compared to Rs 22.99 crore. Effective tax rate was 26.72% compared to 27.08%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 60.39% to Rs 24.52 crore. - Sales of Printing, Publishing and allied business segment has gone up 2.92% to Rs 442.15 crore (accounting for 93.65% of total sales). Sales of Radio segment has gone up 9.59% to Rs 29.97 crore (accounting for 6.35% of total sales). Inter-segment sales came down from Rs 0.37 crore to Rs 0.16 crore.
- Profit before interest, tax and other unallocable items (PBIT) has slumped 54.33% to Rs 36.05 crore. PBIT of Printing, Publishing and allied business segment fell 57.00% to Rs 31.78 crore (accounting for 88.15% of total PBIT). PBIT of Radio segment fell 15.12% to Rs 4.27 crore (accounting for 11.85% of total PBIT).
- PBIT margin of Printing, Publishing and allied business segment fell from 17.20% to 7.19%. PBIT margin of Radio segment fell from 18.41% to 14.26%. Overall PBIT margin fell from 17.27% to 7.64%.
Yearly performance
Net sales (including other operating income) of D B Corp has increased 17.30% to Rs 1768.54 crore. Operating profit margin has declined from 20.21% to 17.12%, leading to 0.65% decline in operating profit to Rs 302.80 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 27.95% to 31.33%. Employee cost decreased from 25.17% to 21.20%. Other expenses rose from 26.66% to 30.37%. Other income rose 38.03% to Rs 20 crore. PBIDT rose 1.11% to Rs 322.8 crore. Provision for interest fell 25.17% to Rs 18.19 crore. PBDT rose 3.28% to Rs 304.61 crore. Provision for depreciation fell 4.29% to Rs 109.96 crore. Profit before tax grew 8.10% to Rs 194.65 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 52.09 crore, compared to Rs 51.83 crore. Effective tax rate was 26.76% compared to 26.82%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 0.81% to Rs 142.56 crore. - Sales of Printing, Publishing and allied business segment has gone up 16.26% to Rs 1,657.66 crore (accounting for 93.69% of total sales). Sales of Radio segment has gone up 35.35% to Rs 111.58 crore (accounting for 6.31% of total sales). Inter-segment sales rose Rs 0.55 crore to Rs 0.70 crore.
- Profit before interest, tax and other unallocable items (PBIT) has jumped 1.57% to Rs 209.67 crore. PBIT of Printing, Publishing and allied business segment fell 5.63% to Rs 194.05 crore (accounting for 92.55% of total PBIT). PBIT of Radio segment rose 1,828.52% to Rs 15.62 crore (accounting for 7.45% of total PBIT).
- PBIT margin of Printing, Publishing and allied business segment fell from 14.42% to 11.71%. PBIT margin of Radio segment rose from 0.98% to 14.00%. Overall PBIT margin fell from 13.69% to 11.85%.
Other developments
Equity capital increased from Rs 174.96 crore as of 31 March 2021 to Rs 177.06 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00. Promoters’ stake was 71.00% as of 31 March 2022 ,compared to 71.81% as of 31 March 2021 . Promoter stake
pledged as end of March 31, 2022 was nil compared to 7.3% as end of Dec 31,
2021, 17.3% as end of Sep 30, 2021 and 24.3% as end of March 31, 2021. Loan funds declined from Rs 247.63 crore as of 31 March 2021 to Rs 198.94 crore as of 31 March 2022. Inventories declined from Rs 233.48 crore as of 31 March 2021 to Rs 215.13 crore as of 31 March 2022. Sundry debtors were lower at Rs 478.95 crore as of 31 March 2022 compared to Rs 496.90 crore as of 31 March 2021. Cash and bank balance rose to Rs 517.02 crore as of 31 March 2022 from Rs 312.21 crore as of 31 March 2021. Investments declined from Rs 14.33 crore as of 31 March 2021 to Rs 13.82 crore as of 31 March 2022. Fixed assets declined from Rs 1,200.59 crore as of 31 March 2021 to Rs 1,152.18 crore as of 31 March 2022. Intangible assets stood at Rs 1.91 crore. Cash flow from operating activities decreased to Rs 370.63 crore for year ended March 2022 from Rs 374.10 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 30.47 crore, compared to Rs 67.02 crore during the year ended March 2021.
Management Comments : Commenting on the performance for FY2022, Mr. Sudhir Agarwal, Managing Director, DB Corp Ltd said,
“When the Covid-19 pandemic ravaged the country, we were extremely proud of our front-line team members
who wanted to bring a sense of continuity and calm and reduce the stress of our readers. Our thoughtful editorial
integrity coupled with strong on-ground reporting ensured that we were the #1 choice of readers in India and our
current leadership position is a strong testament to our readers. The Digital Push to become an omni-channel
news delivery powerhouse is amplified by the dominant #1 position that our Hindi and Gujarati News Apps
command.
This leadership position, coupled with a resurgence of traditional advertising has also enthused our team to bring
innovative solutions to the advertising community. With record-breaking mega editions ushering in the revival of
post covid ad spends, our broad spectrum of advertisers – small traders, hyperlocal content, large companies,
MNCs and industry leaders all reposed faith in the Dainik Bhaskar Group and this has helped us generate strong
returns for all our stakeholders with our Print Advertising Revenues reaching pre-Covid levels.
The sustainable cost-cutting measures that we undertook coupled with the support of our readers as we increase
cover prices has ensured that we end this financial year on a very strong position and are well-placed to forge
newer milestones in the forthcoming quarters.”
| D B Corp : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 471.97 | 456.60 | 3.37 | 1,768.54 | 1,507.70 | 17.30 | | OPM (%) | 12.38 | 22.15 | -977 bps | 17.12 | 20.21 | -309 bps | | OP | 58.41 | 101.12 | -42.24 | 302.80 | 304.77 | -0.65 | | Other Inc. | 7.89 | 3.54 | 122.88 | 20.00 | 14.49 | 38.03 | | PBIDT | 66.30 | 104.66 | -36.65 | 322.80 | 319.26 | 1.11 | | Interest | 5.87 | 4.79 | 22.55 | 18.19 | 24.31 | -25.17 | | PBDT | 60.43 | 99.87 | -39.49 | 304.61 | 294.95 | 3.28 | | Depreciation | 26.97 | 28.16 | -4.23 | 109.96 | 114.89 | -4.29 | | PBT | 33.46 | 71.71 | -53.34 | 194.65 | 180.06 | 8.10 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 33.46 | 71.71 | -53.34 | 194.65 | 180.06 | 8.10 | | EO Income | 0 | 13.19 | - | 0 | 13.19 | - | | PBT after EO | 33.46 | 84.9 | -60.59 | 194.65 | 193.25 | 0.72 | | Taxation | 8.94 | 22.99 | -61.11 | 52.09 | 51.83 | 0.50 | | PAT | 24.52 | 61.91 | -60.39 | 142.56 | 141.42 | 0.81 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 24.52 | 61.91 | -60.39 | 142.56 | 141.42 | 0.81 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 24.52 | 61.91 | -60.39 | 142.56 | 141.42 | 0.81 | | EPS (Rs)* | 1.38 | 2.95 | -53.11 | 8.05 | 7.44 | 8.20 | | | * EPS is on current equity of Rs 177.06 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| D B Corp : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Printing, Publishing and allied business | 93.65 | 442.15 | 429.63 | 2.92 | 93.69 | 1,657.66 | 1,425.81 | 16.26 | | Radio | 6.35 | 29.97 | 27.35 | 9.59 | 6.31 | 111.58 | 82.44 | 35.35 | | Total Reported Sales | 100.00 | 472.12 | 456.98 | 3.31 | 100.00 | 1,769.24 | 1,508.25 | 17.30 | | Less: Inter segment revenues | | 0.16 | 0.37 | -58.56 | | 0.70 | 0.55 | 27.04 | | Net Sales | 100.00 | 471.97 | 456.60 | 3.37 | 100.00 | 1,768.54 | 1,507.70 | 17.30 | | PBIT | | Printing, Publishing and allied business | 88.15 | 31.78 | 73.90 | -57.00 | 92.55 | 194.05 | 205.63 | -5.63 | | Radio | 11.85 | 4.27 | 5.03 | -15.12 | 7.45 | 15.62 | 0.81 | 1,828.52 | | Total PBIT | 100.00 | 36.05 | 78.94 | -54.33 | 100.00 | 209.67 | 206.44 | 1.57 | | Less : Interest | | 5.87 | 4.79 | 22.55 | | 18.19 | 24.31 | -25.19 | | Add: Other un-allcoable | | 3.29 | 10.76 | -69.41 | | 3.17 | 11.12 | -71.50 | | PBIT Margin(%) | | Printing, Publishing and allied business | | 7.19 | 17.20 | -1,001.42 | | 11.71 | 14.42 | -271.55 | | Radio | | 14.26 | 18.41 | -415.05 | | 14.00 | 0.98 | 1,301.69 | | PBT | 100.00 | 33.47 | 84.91 | -60.58 | 100.00 | 194.65 | 193.25 | 0.73 |
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