HINDUSTAN MEDIA VENTURES 2023-24 Annual Report Analysis

Tue, 29 Oct

HINDUSTAN MEDIA VENTURES has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

HINDUSTAN MEDIA VENTURES Income Statement Analysis

• Operating income during the year fell 1.3% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and down at 10.6% in FY24 as against 11.9% in FY23.
• Depreciation charges decreased by 15.0% and finance costs decreased by 18.5% YoY, respectively.
• Other income grew by 36.4% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 5.3% in FY23 to 1.4% in FY24.

HINDUSTAN MEDIA VENTURES Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	7,134	7,041	-1.3%
Other income	Rs m	781	1,066	36.4%
Total Revenues	Rs m	7,915	8,107	2.4%
Gross profit	Rs m	-846	-743	NA
Depreciation	Rs m	314	267	-15.0%
Interest	Rs m	162	132	-18.5%
Profit before tax	Rs m	-540	-76	NA
Tax	Rs m	-159	-175	NA
Profit after tax	Rs m	-381	100	NA
Gross profit margin	%	-11.9	-10.6
Effective tax rate	%	29.4	231.4
Net profit margin	%	-5.3	1.4

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HINDUSTAN MEDIA VENTURES Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 7 billion as compared to Rs 7 billion in FY23, thereby witnessing an increase of 10.4%.
• Current assets rose 34% and stood at Rs 11 billion, while fixed assets fell 19% and stood at Rs 11 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 22 billion as against Rs 22 billion during FY23, thereby witnessing a growth of 2%.

HINDUSTAN MEDIA VENTURES Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	14,752	14,788	0.2
Current Liabilities	Rs m	6,671	7,367	10.4
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	21,737	22,177	2.0
Current assets	Rs m	8,209	11,039	34.5
Fixed Assets	Rs m	13,255	10,785	-18.6
Total Assets	Rs m	21,737	22,177	2.0

HINDUSTAN MEDIA VENTURES Cash Flow Statement Analysis

• HINDUSTAN MEDIA VENTURES's cash flow from operating activities (CFO) during FY24 stood at Rs 164 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 286 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -91 million, an improvement of 90% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 359 million from the Rs -21 million net cash flows seen during FY23.

HINDUSTAN MEDIA VENTURES Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	523	164	-68.6%
Cash Flow from Investing Activities	Rs m	355	286	-19.4%
Cash Flow from Financing Activities	Rs m	-899	-91	-
Net Cash Flow	Rs m	-21	359	-

Current Valuations for HINDUSTAN MEDIA VENTURES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.4, an improvement from the EPS of Rs -5.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 88.7, stands at 26.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.4 times, while the price to sales ratio stands at 0.9 times.
• The company's price to cash flow (P/CF) ratio stood at 17.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	96.8	95.6
TTM Earnings per share	Rs	-5.2	1.4
Diluted earnings per share	Rs	-5.2	1.4
Price to Cash Flow	x	-45.8	17.1
TTM P/E ratio	x	-7.6	26.9
Price / Book Value ratio	x	0.3	0.4
Market Cap	Rs m	4,404	6,262
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for HINDUSTAN MEDIA VENTURES

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.5x during FY24, from 1.2x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 0.4x during FY24, from -2.3x during FY23. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 0.7% during FY24, from -2.6% during FY24. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 0.4% during FY24, from -2.6% during FY23. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company improved and stood at 1.0% during FY24, from -1.0% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	1.2	1.5
Debtors’ Days	Days	606	664
Interest coverage	x	-2.3	0.4
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-1.0	1.0
Return on equity	%	-2.6	0.7
Return on capital employed	%	-2.6	0.4

To see how HINDUSTAN MEDIA VENTURES has performed over the last 5 years, please visit here.

HINDUSTAN MEDIA VENTURES Share Price Performance

Over the last one year, HINDUSTAN MEDIA VENTURES share price has moved down from Rs 80.1 to Rs 0.0, registering a loss of Rs 80.1 or around 100.0%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 19,327.4 (down 0.3%). Over the last one year it has moved up from 13,957.7 to 19,327.4, a gain of 5,370 points (up 38.5%).

Overall, the NIFTY 50 is down 0.0% over the year.

(To know more, check out historical annual results for HINDUSTAN MEDIA VENTURES and quarterly results for HINDUSTAN MEDIA VENTURES)