Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Jagran Prakashan: Buy; PT Rs145
Jagran Prakashan (Jagran) expects revenues to grow at an average of 17%-
18% every year over next few years, partly led by higher growth in new
launches, such as I-next (Bilingual compact daily in Hindi and English
languages) and Citiplus. However, revenue growth could come under
pressure in case of GDP growth slowdown, given significant dependence on
advertising revenues (69% of total revenues in FY11).
Jagran believes that competitive intensity has peaked in its key markets,
except Bihar. Jagran expects competitive intensity to stabilize by Sep 2013.
Jagran expects newsprint prices to increase 10% in FY12. Jagran also plans
to increase circulation (number of copies) by 10% in FY12 to 3.5m. Jagran
holds 10-15 days of newsprint inventory, of which 25% is imported.
Jagran is likely to look for inorganic growth in the regional space. It is also
open to partnering with the smaller regional players.
Jagran continues to focus on bottom-line and will not chase market-share. It
expects to be in businesses or regions where it expects minimum return of
25% in next 3-4years.
Jagran believes that advertising yields are low for Hindi newspapers (vs.
English) and expects the disparity to reduce going forward.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Jagran Prakashan: Buy; PT Rs145
Jagran Prakashan (Jagran) expects revenues to grow at an average of 17%-
18% every year over next few years, partly led by higher growth in new
launches, such as I-next (Bilingual compact daily in Hindi and English
languages) and Citiplus. However, revenue growth could come under
pressure in case of GDP growth slowdown, given significant dependence on
advertising revenues (69% of total revenues in FY11).
Jagran believes that competitive intensity has peaked in its key markets,
except Bihar. Jagran expects competitive intensity to stabilize by Sep 2013.
Jagran expects newsprint prices to increase 10% in FY12. Jagran also plans
to increase circulation (number of copies) by 10% in FY12 to 3.5m. Jagran
holds 10-15 days of newsprint inventory, of which 25% is imported.
Jagran is likely to look for inorganic growth in the regional space. It is also
open to partnering with the smaller regional players.
Jagran continues to focus on bottom-line and will not chase market-share. It
expects to be in businesses or regions where it expects minimum return of
25% in next 3-4years.
Jagran believes that advertising yields are low for Hindi newspapers (vs.
English) and expects the disparity to reduce going forward.
No comments:
Post a Comment