Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

HT Media Ltd's Long term rating downgraded to 'CRISIL AA / Stable'

Posted On: 2019-12-12 16:27:27

CRISIL has downgraded its rating on the non-convertible debentures of HT Media Limited (HTML) to 'CRISIL AA/Stable' from 'CRISII AA+/Negative'. The rating on the commercial paper programme has been reaffirmed at 'CRISIL A1+'.

The rating action factors in weakening of HTML's business risk profile over the medium term. Revenue and profitability continue to be constrained by sluggish advertisement (ad) volumes owing to low economic activities, despite increase in ad yield across various categories and softening of newsprint prices.

Operating performance weakened significantly in fiscal 2019 due to high newsprint prices and sluggish macro-economic conditions Earnings before interest, tax, depreciation and amortization (EBITDA) was Rs 102 crore in fiscal 2019 as compared to Rs 393 crore in fiscal 2018. The operating performance was expected to rebound in fiscal 2020 due to lower newsprint prices, upward revision in Directorate of Advertising and Visual Publicity rates and pickup in ad volumes.

Despite consolidation, revenue remained flattish at Rs 1,061 crore during the first half of fiscal 2020, as compared to Rs 1,064 crore in the corresponding period of the previous fiscal. The impact was much more pronounced on English ad revenues, which declined by about 10% on-year, as compared to a decline of around 4% on-year for Hindi ad revenues. On a pro-forma basis, the radio business revenue declined by about 4% on-year, in the first half of fiscal 2020.

On the other hand, while consolidated EBITDA improved to Rs 63 crore in first half of fiscal 2020, owing to softening of newsprint prices, but EBITDA margins still remained at about 6% during the period as compared to approximately 16% in first half of fiscal 2018.

The ratings continue to reflect the strong market position of HTML's flagship English daily, Hindustan Times (HT), in the National Capital Region (NCR), and the established market position of its Hindi daily, Hindustan. The ratings also factor in HTML's healthy financial flexibility, because of strong liquidity. These strengths are partially offset by the exposure to volatility in newsprint prices and economic downturns.

Shares of HT MEDIA LTD. was last trading in BSE at Rs.14.9 as compared to the previous close of Rs. 14.45. The total number of shares traded during the day was 10720 in over 147 trades.

The stock hit an intraday high of Rs. 15.35 and intraday low of 14.1. The net turnover during the day was Rs. 155989.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Sonata Launches 'CSK 2020 Edition' for Chennai Superkings Fans

Universal Cables Ltd updates on capacity expansion

Innovators Facade Systems Limited receives work order of Rs. 26 crores

MRPL shareholders approve proposal to raise funds of Rs. 5000 crore

ITC Ltd increases stake in Delectable Technologies Pvt Ltd

PNB associate bank, JSC Tengri Bank's License revoked

ITC Ltd.'s Sunfeast YiPPee!'s 10th Anniversary celebrations make a GUINNESS WORLD RECORDS® achievement

RITES Ltd board approves buy back through tender offer at Rs. 265

Route Mobile Limited shares to list on Monday - Sep 21, 2020

Mysore Petro Chemicals Limited to write-off GBP 770,000

Somany Ceramics adds a dash of style at T2, Mumbai Airport.

United Spirits Ltd announces resignation of CFO

Lords Chloro Alkali Ltd posts loss of Rs. 1.08 crore in Q1FY21

Zydus Cadila receives final approval from USFDA for Potassium Chloride Extended-Release Tablets

ICRA upgrades rating of Escorts Ltd

Bhatia Mobile to Migrate to main board of BSE

Avantel Ltd receives order of Rs. 15.97 crore from Bharat Electronics Ltd

Magna Electro Castings Ltd board approves buy back at Rs. 175

TATA Tea Chakra Gold Becomes Official Tea Partner for Chennai Super Kings in IPL 2020

Tiger Logistics India Limited provides future Business Outlook

Dr. Reddy's Laboratories announces settlement of U.S. Revlimid® Capsules patent litigation with Celgene

TVS Motor Company expands and strengthens its presence in Colombia

ICICI Securities successfully closes ~INR 6,000 mm IPO of Route Mobile Limited

EIH Limited approves rights issue, fixes Sep 23, 2020 as record date

Hindalco and Hindustan Copper sign MoU for supply of copper concentrate

Kilpest India Limited to merge subsidiary with itself, change name as 3B BlackBio Dx Ltd

Sterling and Wilson Solar Limited Signs order of 106.71 MW worth USD 62.6 mn in Chile

South Korea donates One lakh masks to TVS Motor Company for free distribution to aid India's fight against COVID-19

TCS Recognized as a Leader in Cloud-Native Application Development Services by Everest Group

Power Grid Corporation of India Ltd receives approval for setting up of InvIT

Mahindra Happinest® sells 100+ homes online within a week at 'Happinest Palghar'

Ramco Systems signs agreement with Arla Foods

IRCON International Ltd secures order worth Rs. 1900 crore

Phoenix Group Partners with TCS to Introduce Enhanced Analytics for Workplace Pension Clients

L&T Construction secures order from Northern Coalfields Ltd

Dr. Reddy's announces the launch of Over-the-Counter Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% and 0.1%, the store-brand equivalent of Pataday®, the Eye Allergy Drop in the U.S. Market

Ashok Leyland receives an order for 1400 ICVs from Procure Box

PTC India Financial Services Ltd receives Rs. 115.57 crore IT refund

Thomas Cook India & SOTC partner with India's favourite storyteller Amar Chitra Katha

Shankar Lal Rampal Dye-Chem Ltd Board to consider Bonus Issue of Equity Shares

Dhanuka Agritech Ltd fixes Sep 28, 2020 as record date for buy-back

Sterling and Wilson Solar Limited declares financial results for quarter ending 30th June 2020

JMC secures new orders of Rs. 1,342 Crores

ABM Knowledgeware Ltd bags Rs 127.44 Crores order for SAP Technology Modernization

Titan Company with SBI launches India's first contactless payment watches

Bajaj Consumer Care Joins hand with IndiaMART, to enhance their digital presence in B2B market segment

ICICI Securities successfully closes ~INR 7,020 mm IPO of Happiest Minds Technologies Limited

The Bank of Bahrain and Kuwait goes live with iGTB's Contextual Digital Transaction Banking platform to support growth

HCL and Google Cloud Expand Partnership to Deliver Accelerated Business Intelligence Platform

CARE Ratings reaffirms 'CARE A-' rating with stable outlook for Jindal Stainless (Hisar) Limited

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019