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Conference Call Details • Date: August 1, 2024 • Transcript of call held on July 26, 2024 • Key personnel: Group CFO Mr. Piyush Gupta, CFO Ms. Anna Abraham • Compliance: Submitted in accordance with SEBI regulations
Financial Performance Highlights • Overall Revenue: Declined by 4% to INR 427 crore • Reason: Reduced government advertising due to national elections • Net Cash Position: Remained strong at INR 858 crore
Segment Performance • Print Segment: • Advertising revenue down by 10% • Radio Segment: • Marginal growth, breakeven EBITDA • Digital Business: • Revenue increased by 31% year-on-year • Continued losses due to investments in OTTplay
Management's Strategy and Outlook • Focus on sustainable long-term growth over immediate shareholder returns • Confidence in financial stability and growth potential, especially in commercial categories • Optimism about not incurring losses in the current year despite challenges
Shareholder Concerns • Declining net worth compared to competitors • Management's communication and performance at Digicontent questioned • Clarifications provided on outstanding loans and board meeting efficiency • Assurance that stock under dynamic surveillance is a common practice, not a sign of distress
Advertising Revenue Challenges • Impact of model code of conduct on government and political advertising revenues • Focus on improving advertising pricing to enhance revenue • Expectations for better performance in upcoming quarters if pricing strategies succeed • Stability in newsprint costs anticipated, with slight increases projected • Digital business, particularly OTTplay, not expected to achieve profitability this year
Overall Outlook • Management remains hopeful for future financial performance despite current challenges.
HT Media Limited Conference Call Summary (May 15, 2024)
Announcement Details • Transcript available from May 8, 2024, conference call. • Key management present: Group CFO Mr. Piyush Gupta and Head of Investor Relations Ms. Anna Abraham. • Compliance with SEBI regulations; signed by Manhar Kapoor.
Financial Performance Highlights • Q4 Revenue: Increased by 7% year-on-year to INR 527 crores. • EBITDA: Rose to INR 64 crores. • Full Year Revenue: Flat, but EBITDA improved, resulting in a positive PBT of INR 14 crores. • Print Business: 9% growth in ad revenues; circulation revenues down by 6%. • Radio Segment: 31% revenue growth. • Digital Segment: Grew by 37%.
Strategic Focus • Ongoing investments in digital ventures, particularly OTTplay. • Management acknowledged challenges from global conflicts affecting supply chains and costs. • Emphasis on journalistic integrity and strategic direction.
Q&A Session Insights • Shareholder concerns about declining operating profit since 2018 addressed by Gupta. • Management discussed successful product market fit for OTTplay and anticipated improved revenue. • Sale of surplus land expected to generate INR 8-10 crores. • No specific subscriber numbers disclosed due to competitive sensitivity. • Current cash reserves focused on new business ventures; no immediate plans for dividends or buybacks.
Additional Investor Inquiries • Digital business investments expected to decrease significantly this quarter. • Newsprint prices averaged INR 50,000 for the quarter. • Ongoing discussions with tech giants regarding revenue-sharing, but no government mandates in India yet. • Concerns raised about stagnant English ad revenue and its link to increased government advertising in Hindi markets. • Decline in circulation revenue attributed to heightened newsprint costs.
Conclusion • Management optimistic about the turnaround in the Print business and future performance of OTTplay. • Invitation for further inquiries to the Investor Relations team.
Conference Call Overview • Date: January 19, 2024 • Participants: CFO Mr. Piyush Gupta, Ms. Anna Abraham (Head of Investor Relations) • Transcript available on HT Media's investor relations website • Communication signed by Manhar Kapoor (Group General Counsel & Company Secretary)
Financial Results Highlights • Total Revenue: INR 486 crores (flat YoY, +14% sequentially) • EBITDA: INR 29 crores (stable) • Net Cash: INR 754 crores • Print Segment: Sequential revenue increase; slight decline in circulation revenue • Radio Revenue: 4% YoY decline • Digital Segment: Strong revenue growth but increased losses due to OTTplay investments
Newsprint Prices and Margins • Newsprint prices normalized, impacting margins • Expected continued decline in newsprint prices over the next couple of quarters • Domestic prices influenced by international rates
Digital Initiatives • OTTplay: Significant investment (~INR 70 crores) as an aggregation platform • Strategy leverages existing newspaper channels to reduce customer acquisition costs • 30 platforms integrated into OTTplay, enhancing customer satisfaction
Expenditures and EBIT Margins • Increase in other expenditures due to new business ventures • Stable EBIT margins in print business expected as newsprint prices soften • Monitoring OTTplay's performance for future investment decisions
Real Estate Investments • Over INR 650 crores invested in real estate (60% of total investments) • Focus on financial rather than strategic investments • Active monetization of assets positively impacting cash flows
Future Outlook • Optimism for revenue growth due to upcoming general elections • Potential government policy changes could benefit the radio sector • New digital business projected to achieve EBITDA margins of 15% to 20% at maturity • Expectations for improved results in upcoming quarters
HT Media Limited Conference Call Summary (November 16, 2023)
Transcript Availability • Transcript from November 8, 2023, conference call is available on the investor relations website. • Announcement complies with SEBI regulations, signed by Manhar Kapoor.
Financial Performance Overview • Q2 FY2023-24 Results: • 5% year-over-year decline in total revenue. • Advertising revenue down 9% in Print segment. • Operating EBITDA improved due to lower newsprint costs. • Radio segment revenue grew by 8%. • Digital segment grew by 10% but continued to incur losses.
Q&A Highlights • Digital Segment Concerns: • Ongoing cash burn in Digital, particularly OTTplay, expected to reach profitability in 4-6 quarters. • Market Comparisons: • Complicated comparisons with peers due to differing market dynamics. • Elections Impact: • Upcoming elections expected to benefit the industry, though quantifying impact is challenging.
Management Responses • Cost Management: • HT Media has made substantial cost corrections since pre-COVID. • Employee costs necessary for core operations; performing well compared to peers. • Cash Position: • Erosion in cash largely due to FM radio investments; net cash position remains strong. • Future Outlook: • Focus on cost management and recovery of pricing during festive season. • Optimism about digital investments, particularly in OTTplay.
Advertising Revenue and Costs • Payment Structures: • Advertising revenue does not require repayment; payments to OTT partners vary. • Cost Types: • Fixed content costs and variable customer acquisition costs.
Additional Inquiries • Print Revenue Discrepancies: • Print revenue includes multiple publications; pulp sourced mainly from North America and Russia. • Reliance on Elections: • No current buyback proposals; focus on pricing and cost optimization. • TRAI Recommendations: • Strong likelihood of acceptance, which could benefit the radio industry.
Conclusion • Future Projections: • Anticipated further decline in newsprint prices and ongoing efforts to improve financial performance. • Call concluded with thanks and Diwali wishes from Piyush Gupta.
Conference Call Overview • Date: August 4, 2023 • Participants: Management members including Group CFO Mr. Piyush Gupta and Group Controller Mr. Pervez Bajan. • Transcript available on HT Media's investor relations website.
Financial Performance • Total revenue: INR 445 crores (3% increase). • EBITDA: INR 27 crores (over 250% increase). • Profitability improvements attributed to cost streamlining and easing commodity prices.
Segment Performance • Print and Radio: Year-on-year growth in circulation and advertising. • Digital: Decline in revenue and increased EBITDA losses due to new business investments.
Pricing Strategy • CFO Gupta emphasized the importance of improved pricing for bottom-line impact. • Confidence in pursuing pricing adjustments due to returning volumes.
Cash Reserves and Utilization • Gupta acknowledged the importance of maintaining cash reserves during the pandemic but provided no new updates on cash utilization.
OTTplay Platform • Aggregation model aimed at providing a seamless viewing experience at discounted prices. • Targeting NCCS B and C demographics despite competition.
Slurrp Project • Currently in pilot stage; not a significant financial burden with no immediate scaling plans.
Other Financial Insights • Increase in other income attributed to treasury activities and improved mark-to-market valuations. • Reduction in employee benefits expenses due to adjustments in variable payouts.
Shareholder Concerns • Discussion on stock performance compared to competitors and strategies for unlocking shareholder value. • Acknowledgment of ongoing discussions with shareholders regarding stock price and value.
Radio Business Challenges • Regulatory challenges impacting revenue and EBITDA since FY19-20. • Optimism about recovery and plans for digital integration.
Regulatory Fees • Explanation of higher regulatory license fees for larger cities. • Government review of fees could lead to improved profit margins.
Future Plans • Open to expanding the number of stations if regulatory environment improves. • Focus on adjusting pricing to pre-pandemic levels to enhance margins.
Closing Remarks • Gupta expressed optimism about improving margins and profitability in the future.
Announcement Details • Date of announcement: May 26, 2023 • Transcript availability: HT Media's investor relations website • Compliance: SEBI regulations • Key participants: • Mr. Piyush Gupta (Group CFO) • Mr. Pervez Bajan (Group Controller) • Ms. Anna Abraham (Head of Investor Relations)
Financial Performance Highlights • Recovery from pandemic challenges noted • Revenue growth: • Print: 11% increase • Radio: 42% increase • Profitability impacted by: • High newsprint costs • Investments in OTT platform (OTTPlay.com) • Q4 results: • 8% revenue growth • Decline in EBITDA due to elevated costs
Key Concerns Addressed • Shipping and commodity costs affecting performance • Yield improvement program to restore profitability • Impairment in standalone results clarified by Anna Abraham
Digital Initiatives • Introduction of OTTPlay: • Aggregates multiple OTT platforms • Aims to enhance user experience • Current costs associated with OTTPlay reflected as operating expenses
Investor Inquiries • One-time write-off of INR 51 crores related to intercorporate deposits linked to radio impairments • Current newsprint prices and expected decreases discussed • Employee costs decrease attributed to a one-time reversal • Future investment trends and revenue expectations for OTTPlay
Outlook and Future Strategies • Focus on rebuilding circulation in Hindi print segment • Shift towards long-term subscription models • Digital initiatives ongoing, with primary focus on OTTPlay • Optimism expressed for future quarters based on favorable trends
Conference Call Overview • Date: February 14, 2023 • Participants: Key management personnel including Group CFO and CFO of Hindustan Media Ventures Limited • Transcript available on HT Media's investor relations website • Communication signed by Manhar Kapoor, Group General Counsel & Company Secretary
Key Highlights • Market Recovery: Gradual recovery in media businesses noted, despite inflation impacting performance. • Print Segment: • Sequential growth in advertising and circulation revenues. • Margins affected by high newsprint prices. • Radio Segment: Improvement observed.
Financial Performance • Total Revenue: Declined by 2% to INR 488 crores. • EBITDA: Significant drop of 74% to INR 28 crores. • Print Segment: Year-on-year decline in ad revenue. • Radio Business: Grew by 21%. • Digital Segment: Revenue declined by 23%.
Q&A Session Insights • Newsprint Prices: Expected to decrease. • Rising Expenses: Attributed to advertising costs and new initiatives. • Revenue Recognition: Most revenue recognized in the current quarter; potential for additional revenue next quarter. • On-ground Events: Expected to incur expenses linked to revenue generation. • Finance Costs: Increased due to IndAS 116 accounting treatment and higher borrowing costs.
Future Outlook • Optimism about future profitability with expected decline in newsprint prices (10-20%). • Positive economic forecasts and anticipation of improved results in the next quarter.