Zee Entertainment Q4 Review - Healthy Free Cash Flow In FY21; Upbeat Outlook, Persistency Key: Dolat Capital
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Dolat Capital Report
Zee Entertainment Enterprises Ltd.’s Q4 FY21 was in-line.
The company ended FY21 with a healthy free cash flow of Rs 13.7 billion before redeemable preference shares pay-out. This has been a key concern area.
The company’s free cash flow generation had been muted for several years (FY18 to FY20, Rs 3 billion).
Zee management’s commentary on multiple aspects was encouraging.
The management seems to be taking cognizance of investor concerns and business investments are happening in the core broadcast and digital with Sugar Box being virtually out.
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