HT MEDIA 2021-22 Annual Report Analysis

Mon, 5 Sep

HT MEDIA has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

HT MEDIA Income Statement Analysis

• Operating income during the year rose 34.3% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a fall and down at 1.8% in FY22 as against 11.4% in FY21.
• Depreciation charges decreased by 1.5% and finance costs decreased by 2.2% YoY, respectively.
• Other income declined by 17.0% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 5.5% in FY21 to 1.4% in FY22.

HT MEDIA Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	11,173	15,004	34.3%
Other income	Rs m	2,138	1,775	-17.0%
Total Revenues	Rs m	13,311	16,779	26.0%
Gross profit	Rs m	-1,271	265	NA
Depreciation	Rs m	1,373	1,353	-1.5%
Interest	Rs m	558	546	-2.2%
Profit before tax	Rs m	-1,064	141	NA
Tax	Rs m	-453	-73	NA
Profit after tax	Rs m	-611	215	NA
Gross profit margin	%	-11.4	1.8
Effective tax rate	%	42.6	-51.8
Net profit margin	%	-5.5	1.4

Must See: Do You Invest in Midcap Stocks? Here's a Great News for You

HT MEDIA Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 16 billion as compared to Rs 16 billion in FY21, thereby witnessing an decrease of -0.1%.
• Long-term debt stood at Rs 2 billion as compared to Rs 1 billion during FY21, a growth of 72.0%.
• Current assets rose 63% and stood at Rs 18 billion, while fixed assets fell 22% and stood at Rs 24 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 42 billion as against Rs 42 billion during FY21, thereby witnessing a growth of 0%.

HT MEDIA Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	20,877	20,830	-0.2
Current Liabilities	Rs m	16,222	16,209	-0.1
Long-term Debt	Rs m	1,074	1,847	72.0
Total Liabilities	Rs m	41,725	41,922	0.5
Current assets	Rs m	11,126	18,183	63.4
Fixed Assets	Rs m	30,598	23,739	-22.4
Total Assets	Rs m	41,725	41,922	0.5

HT MEDIA Cash Flow Statement Analysis

• HT MEDIA's cash flow from operating activities (CFO) during FY22 stood at Rs 145 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs 42 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -321 million, an improvement of 71% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -131 million from the Rs 323 million net cash flows seen during FY21.

HT MEDIA Cash Flow Statement 2021-22

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-21	Mar-22
Cash Flow from Operating Activities	Rs m	2,028	145	-92.9%
Cash Flow from Investing Activities	Rs m	-596	42	-
Cash Flow from Financing Activities	Rs m	-1,123	-321	-
Net Cash Flow	Rs m	323	-131	-

Current Valuations for HT MEDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.9, an improvement from the EPS of Rs -2.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 21.6, stands at 9.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.2 times, while the price to sales ratio stands at 0.3 times.
• The company's price to cash flow (P/CF) ratio stood at 4.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Sales per share (Unadj.)	Rs	48.0	64.5
TTM Earnings per share	Rs	-2.6	0.9
Diluted earnings per share	Rs	-2.6	0.9
Price to Cash Flow	x	6.3	4.4
TTM P/E ratio	x	-7.9	9.2
Price / Book Value ratio	x	0.2	0.3
Market Cap	Rs m	4,672	6,831
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for HT MEDIA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.1x during FY22, from 0.7x during FY21. 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 1.3x during FY22, from -0.9x during FY21. 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 1.0% during FY22, from -2.9% during FY22. 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 3.0% during FY22, from -2.3% during FY21. 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 1.8% during FY22, from -0.1% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Current ratio	x	0.7	1.1
Debtors’ Days	Days	876	682
Interest coverage	x	-0.9	1.3
Debt to equity ratio	x	0.1	0.1
Return on assets	%	-0.1	1.8
Return on equity	%	-2.9	1.0
Return on capital employed	%	-2.3	3.0

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

HT MEDIA Share Price Performance

Over the last one year, HT MEDIA share price has moved down from Rs 23.9 to Rs 21.6, registering a loss of Rs 2.3 or around 9.6%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 13,095.8 (up 0.6%). Over the last one year it has moved down from 15,032.5 to 13,095.8, a loss of 1,937 points (down 12.9%).

Overall, the S&P BSE SENSEX is up 3.3% over the year.

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

Read: Latest Annual Report Analysis of HT MEDIA