HT MEDIA LIMITED – Investor Presentation Summary

Key Operational Highlights

  • Print business recorded 8% YoY revenue growth to ₹386 crore in Q2 FY27
  • Print English advertising revenue grew 5% YoY to ₹192 crore
  • Print Hindi advertising revenue grew 11% YoY to ₹194 crore
  • Radio business revenue declined 23% YoY to ₹25 crore following station network rationalization
  • Digital business revenue declined 30% YoY to ₹28 crore
  • Key brands include Hindustan Times, Hindustan, and Fever 104 FM

Key drivers of operational performance: Print growth driven by advertising revenue across both English and Hindi titles, while Radio and Digital segments underwent strategic rationalization for profitability.

Segment-wise Performance

Print Segment:

  • Operating Revenue: ₹386 crore (Q2 FY27) vs ₹357 crore (Q2 FY26), +8% YoY
  • Operating EBITDA: ₹35 crore vs ₹38 crore (Q2 FY26), -6% YoY
  • Operating EBITDA Margin: 9% vs 11% (Q2 FY26)

Radio Segment:

  • Operating Revenue: ₹25 crore (Q2 FY27) vs ₹32 crore (Q2 FY26), -23% YoY
  • Operating EBITDA: ₹2 crore vs ₹(4) crore (Q2 FY26)
  • Operating EBITDA Margin: 9% vs -12% (Q2 FY26)

Digital Segment:

  • Operating Revenue: ₹28 crore (Q2 FY27) vs ₹40 crore (Q2 FY26), -30% YoY
  • Operating EBITDA: ₹1 crore vs ₹(1) crore (Q2 FY26)
  • Operating EBITDA Margin: 3% vs -3% (Q2 FY26)

Explanation of significant changes in segment performance: Print growth was driven by advertising revenue, while Radio decline followed station rationalization. Digital revenue decline reflected business reset focusing on profitable operations.

Financial Highlights

Consolidated (HT Media Limited):

  • Revenue: ₹502 crore
  • EBITDA: ₹88 crore
  • PAT: ₹39 crore
  • EBITDA Margin: 17%
  • PAT Margin: 8%
  • YoY comparison: Revenue +5%, EBITDA +26%, PAT +102%

HMVL Consolidated:

  • Revenue: ₹248 crore
  • EBITDA: ₹74 crore
  • PAT: ₹56 crore
  • EBITDA Margin: 30%
  • PAT Margin: 22%
  • YoY comparison: Revenue +22%, EBITDA +65%, PAT +63%

Drivers of financial performance: Higher revenue growth in Print business, improved profitability in Radio and Digital segments, and reduced employee costs (-9% YoY).

Key Risks: Higher newsprint costs (+15% YoY), rupee depreciation amid global uncertainty exerting pressure on margins.

Balance Sheet Snapshot

HT Media Limited (as of 30 Sep'26):

  • Total Assets: ₹3,889 crore
  • Total Equity: ₹2,114 crore
  • Total Non-Current Liabilities: ₹128 crore
  • Total Current Liabilities: ₹1,648 crore
  • Net Cash: ₹930 crore

HMVL (as of 30 Sep'26):

  • Total Assets: ₹2,476 crore
  • Total Equity: ₹1,689 crore
  • Total Non-Current Liabilities: ₹45 crore
  • Total Current Liabilities: ₹742 crore

Financial Health Insights: Strong cash position with ₹930 crore net cash, robust balance sheet structure.

Capex & Cash Flow Health

Not Specified

Strategic & R&D Initiatives

  • Radio business rationalization of station network to strengthen profitability and establish sustainable operating base
  • Digital operations focus on leaner portfolio and quality of earnings with emphasis on sustainable and profitable growth
  • Continued focus on strengthening core businesses and maintaining financial discipline

Expected impact on growth: Radio rationalization has established more sustainable operating base, while digital reset aims for profitable growth.

Strategic Rationale: Staying relevant in changing media landscape while balancing interests of audiences and shareholders.

Industry Trends & Business Environment

Macro/Industry Trends: Shift in festive season to Q3 FY27, higher newsprint costs industry-wide, rupee depreciation amid global uncertainty.

Impact on Company: Newsprint cost increase and currency depreciation exerted pressure on Print margins, festive season shift affected quarterly timing.

Management Commentary & Growth Outlook

Strategic Outlook: \"The Company remains focused on strengthening its core businesses and maintaining financial discipline. Our endeavour remains to stay relevant in a changing media landscape while balancing the interests of our audiences and shareholders.\" - Mrs. Shobhana Bhartia, Chairperson and Editorial Director

FY Guidance: Not Specified

Market Share Targets: Not Specified

Risks and Opportunities: Important considerations for coming quarters include newsprint costs and rupee depreciation amid global uncertainty.