Zee Entertainment Q1 Review - Reverse ‘U-Turn’; A Normal: Dolat Capital

Zee Entertainment channels. (Source: BloombergQuint).

Zee Entertainment Q1 Review - Reverse ‘U-Turn’; A Normal: Dolat Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Zee Entertainment Enterprises Ltd.’s Q1 FY22 was weak with 22.7% ad revenue decline (TV18 4%) versus Q1 FY20 led by market share loss and Covid-19 impact.

Reported/Adjusted Ebitda margin declined to 19.4/20.9% versus 34.1% in Q1 FY20.

Zee’s management had guided weak outlook in Q3 FY21 (price declined by 14% next day), reversed the same in Q4 FY21 (stock up 12% in a week) with robust guidance on advertising (double-digit versus FY20), subscription, margin (25% up in FY22), free cash flow (50% plus of profit after tax) and no investments in Sugarbox.

In Q1 FY22, commentary is again back to square-one viz. similar to Q3 FY21.

Click on the attachment to read the full report:

Dolat Capital Zee Entertainment Q1FY22 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.