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Conference Call Details • Date of announcement: August 1, 2024 • Conference call date: July 26, 2024 • Discussion on: Unaudited financial results for Q1 FY2024-25 • Key participants: • Mr. Piyush Gupta, Group CFO of HT Media Ltd. • Ms. Anna Abraham, CFO of HMVL • Transcript availability: Accessible on the company's website • Compliance: Announcement made in accordance with SEBI regulations
Financial Performance Highlights • Overall revenue decline: 4% • Cause: Reduced government advertising due to national elections • Revenue breakdown: • Print advertising and circulation: Decreased • Digital segment: Significant growth • Financial position: • Net cash: INR 858 crore • Profit before tax: Negative INR 36 crore • Focus areas: • Improving profitability in core businesses • Investing in new digital ventures (e.g., OTTplay)
Shareholder Concerns and Management Response • Shareholder issues: • Declining net worth • Comparisons with competitors • Management's strategy: • Building sustainable long-term value through new initiatives • Confidence in financial stability and growth potential
Communication and Performance Issues • Concerns raised about: • Management's communication • Performance of Digicontent • Management's clarification: • Addressing outstanding loans • Thorough reviews during board meetings
Impact of Elections on Advertising Revenue • Model code of conduct effects: • Significant decrease in government advertising revenue • Absence of political revenue previously compensating for losses • Management's actions: • Working to improve advertising pricing • Early successes noted in Q1 • Future expectations: • Better ad revenue performance anticipated if pricing strategies succeed • Stable newsprint costs with slight increases • Digital business (OTTplay) not expected to be profitable this year
Outlook • Management expresses optimism for future performance • Encouragement for ongoing investor engagement
Announcement Details • Date of announcement: May 15, 2024 • Conference call date: May 8, 2024 • Purpose: Discuss audited financial results for Q4 and FY ending March 31, 2024 • Compliance: SEBI regulations • Access: Transcript available on HMVL's website • Key management participants: • Mr. Piyush Gupta, Group CFO of HT Media Ltd. • Ms. Anna Abraham, Head of Investor Relations for HT Media Group and CFO of HMVL
Financial Performance Highlights • Q4 revenue: INR 527 crores (7% YoY increase) • EBITDA: INR 64 crores (significant rise) • Full year revenue: Flat, but improved EBITDA leading to positive PBT of INR 14 crores • Print business: • Ad revenues up by 9% • Circulation revenues down by 6% • Radio segment: 31% revenue growth • Digital segment: 37% growth • Challenges: Global conflicts affecting supply chains and commodity costs
Strategic Focus and Investments • Ongoing investments in digital ventures, particularly OTTplay • Emphasis on generating revenue and improving margins in core Print business • Plans to increase pricing in FY25 • Sale of surplus land: INR 8-10 crores profit from land sales
Shareholder Inquiries and Management Responses • Decline in operating profit since 2018 attributed to COVID-19 and digital investments • OTTplay profitability: Not expected in the next year, focus on scaling business • Digital business investments expected to decrease significantly this quarter • Newsprint prices: Averaged INR 50,000 for the quarter • Revenue-sharing discussions with tech giants ongoing, no government mandates yet • Stagnant English ad revenue linked to increased government advertising in Hindi markets • Drop in circulation revenue due to fewer copies sold
Conclusion • Management optimistic about turnaround in Print business and future performance of OTTplay • Invitation for further inquiries to the Investor Relations team • Acknowledgment of investor support and anticipation for the next quarter
Announcement Details • Date of announcement: January 25, 2024 • Transcript availability: Conference call on January 19, 2024 • Participants: CFO Mr. Piyush Gupta, Head of Investor Relations Ms. Anna Abraham • Compliance: SEBI regulations, signed by company secretary Nikhil Sethi
Financial Overview (Q3 FY 2023-24) • Total revenue: INR 486 crores (flat YoY, up 14% sequentially) • EBITDA: INR 29 crores (stable) • Net cash position: INR 754 crores • Segment performance: • Print: Sequential revenue increase • Radio: Revenue decline of 4% • Digital: Revenue growth of 34, but increased losses due to OTTplay investments
Key Discussion Points • Newsprint Prices: • Decrease of 19-20% YoY expected to continue • Domestic prices influenced by international rates
• Digital Initiatives (OTTplay): • Significant investment of INR 70 crores • Aggregation platform for multiple streaming services • Strategy to leverage newspaper channels for customer acquisition
• Expenditures and EBIT Margins: • Increase in expenditures due to new business ventures • Stable EBIT margins expected as newsprint prices soften
OTTplay Progress • Integration of 30 platforms at competitive prices • Focus on product refinement and scalability assessment • Strategic deployment of over INR 1,000 crores in liquid investments
Radio Segment Outlook • Optimism about potential government policy changes post-elections
Real Estate Investments • Total investments: Over INR 650 crores (60% in real estate) • Focus on financial rather than strategic investments • Active monetization of assets over the past three years
Future Projections • Anticipated revenue growth due to upcoming general elections • New digital business projected EBITDA margins of 15% to 20% at maturity • Confidence in future performance based on favorable market conditions and festive season
Announcement Details • Date of Announcement: November 16, 2023 • Conference Call Date: November 8, 2023 • Content: Transcript of un-audited financial results for Q2 FY2023-24 • Access: Available on the company's website • Signatory: Nikhil Sethi, Company Secretary
Financial Performance Highlights • Total Revenue: 5% year-over-year decline • Advertising Revenue: 9% decrease in Print segment • Operating EBITDA: Improved due to lower newsprint costs • Segment Growth: • Radio: 8% revenue growth • Digital: 10% growth, but continued losses
Q&A Session Insights • OTTplay Profitability: Expected in 4-6 quarters • Print Segment Profitability: Affected by market dynamics and election-related revenues • Market Presence: Dainik Jagran's limited presence in certain markets • Elections Impact: Anticipated benefits for the industry, though hard to quantify
Concerns Raised • Employee Cost-to-Revenue Ratio: Low compared to competitors • Erosion of Shareholders' Funds: Management's urgency questioned • Cost Management: HT Media has made significant corrections since pre-COVID
Management Responses • Employee Costs: Managed effectively; necessary for core operations • Cash Erosion: Due to FM radio investments; net cash remains healthy • Future Investments: Monetizing non-core assets and investing in new ventures
Challenges Discussed • Hindi Market Pricing Pressures: Intensified due to COVID-19 • Margin Expansion: Hopes for recovery during the festive season • Digital Investments: Potential for future profitability despite current losses
Advertising Revenue and Costs • Payments Structure: Various installment plans for OTT partners • Content Fees: Fixed costs not linked to subscriber numbers • Customer Acquisition Costs: Variable based on acquisition channels
TRAI Recommendations • Discussion Duration: Over five years, hopeful for acceptance • Newsprint Consumption: Predicted 5-10% correction • Newsprint Prices: Current rate around INR 54,000/MT, with a 15% YoY decrease expected
Conclusion • Final Remarks: Gupta thanked participants and wished them a happy Diwali.
Conference Call Overview • Date: August 4, 2023 • Focus: Unaudited financial results for Q1 FY2023-24 • Participants: Management members including Group CFO Mr. Piyush Gupta and Group Controller Mr. Pervez Bajan • Transcript availability: On company website, shared per SEBI regulations
Financial Performance Highlights • Total revenue: INR 445 crores (3% increase) • EBITDA: INR 27 crores (over 250% increase) • Profitability improvements attributed to: • Cost streamlining • Easing commodity prices • Segment performance: • Print and Radio: Year-on-year growth • Digital: Revenue decline and increased EBITDA losses
Pricing Strategy and Market Outlook • Emphasis on improved pricing to impact bottom line positively • Confidence in pursuing pricing adjustments due to returning volumes • Expectations for gross margin expansion from falling pulp prices and upcoming election year
Cash Reserves and Investments • Acknowledgment of cash reserves during the pandemic as beneficial • OTTplay platform: Aggregation model targeting traditional cable users • Slurrp project: Currently in pilot stage, not a financial burden
Other Financial Insights • Increase in other income due to treasury activities and improved mark-to-market valuations • Reduction in employee benefits expenses from variable payout adjustments
Shareholder Concerns and Value Unlocking • Discussion on HT Media's stock performance and market cap concerns • Ongoing discussions with shareholders to unlock value • Acknowledgment of stock being undervalued amidst complex market dynamics
Radio Business and Regulatory Challenges • Decline in radio revenue and EBITDA since FY19-20 • Optimism for recovery through digital avenues and regulatory changes • Regulatory license fees: Higher for larger cities, government review in progress
Future Plans and Shareholder Value • Open to expanding radio stations if regulatory environment improves • Focus on adjusting pricing to improve revenue and EBIT margins • Potential positive impact on EBITDA from falling raw material prices • Long-term value creation through investments in OTT aggregation platform
Closing Remarks • Management expressed optimism about improving margins and profitability in the future.
Conference Call Overview • Date: May 19, 2023 • Transcript available on HMVL's website • Led by: Pumit Kumar Chellaramani (Company Secretary) and Anna Abraham (Head of Investor Relations)
Financial Performance • Q4 FY23 Results: • Consolidated revenue: INR 494 crores (8% increase) • EBITDA significantly impacted by high costs • Full Year FY23 Results: • Print revenue: 11% increase • Radio revenue: 42% increase • Profitability affected by high newsprint costs and OTT platform investments
Key Challenges • Disappointment in English newspaper segment recovery • High newsprint costs and ongoing inflation • Need for yield improvement to restore pre-COVID revenue levels
Digital Segment Insights • Launch of OTTPlay aimed at aggregating multiple OTT platforms • Increased costs associated with OTTPlay's development • Growth potential in the OTT sector highlighted
Investor Concerns • Questions about one-time write-off of INR 51 crores related to intercorporate deposits • Clarifications on employee costs and revenue drivers for OTTPlay • Discussion on subscription models and circulation recovery in Hindi print segment
Future Outlook • Optimism expressed for Radio business recovery • Anticipated increase in expenses due to OTTPlay expansion • Focus on rebuilding circulation and improving advertising yields
Additional Initiatives • Ongoing experiments with NFTs mentioned, but primary focus remains on OTTPlay • Partnerships with platforms like Sony Live and Zee5 involve fixed contracts, not revenue sharing
Conclusion • Gupta expressed optimism for future quarters, citing favorable business trends.
Conference Call Details • Date: February 14, 2023 • Participants: Key management personnel including Group CFO and CFO • Compliance: Transcript shared in accordance with SEBI regulations • Company Secretary: Pumit Kumar Chellaramani
Financial Performance Overview • Q3 FY22-23 Results: • Total Revenue: INR 488 crores (2% decline) • EBITDA: INR 28 crores (74% drop) • Segment Performance: • Print: Decline in ad revenue; growth in advertising and circulation revenues but margins affected by high newsprint prices. • Radio: 21% growth in revenue.
Management Insights • Market Conditions: • Gradual recovery in media businesses despite inflation impacting performance. • Revenue Realization: • Most revenue for the current quarter already realized; additional revenue expected linked to deliverables. • Cost Management: • Increase in finance costs due to IndAS 116 accounting treatment and higher borrowing costs. • Future Outlook: • Optimism for profitability with expected decline in newsprint prices (10-20% in next two quarters). • Positive economic forecasts and hope for improved results in the upcoming quarter.