/Entertainment Hold Zee Entertainment, target price Rs 190: Emkay Global
Entertainment Hold Zee Entertainment, target price Rs 190: Emkay Global

Entertainment Hold Zee Entertainment, target price Rs 190: Emkay Global

Entertainment

Synopsis

Entertainment Zee Leisure Enterprises Ltd., integrated in the one year 1982, is a Fine Cap firm (having a market cap of Rs 17111.39 Crore) working in Media & Leisure sector.

Entertainment http://economictimes.indiatimes.com/Companies
Promoters held 4.8 per cent stake in the firm as of June 30, 2020, whereas FIIs held 67.3 per cent, DIIs 9.7 per cent and public and others 18.2 per cent.

Emkay Global has given address rating to Zee Leisure with a goal mark of Rs 110. The portion mark moved up by 2.56 per cent from its outdated end of Rs 173.95. The stock’s final traded mark is Rs 178.40.

Zee Leisure Enterprises Ltd., integrated in the one year 1982, is a Fine Cap firm (having a market cap of Rs 17111.39 Crore) working in Media & Leisure sector.

Financials

For the quarter ended 30-06-2020, the firm reported a Consolidated gross sales of Rs 1312.03 Crore, down 32.75 % from final quarter Sales of Rs 1951.08 Crore and down 34.66 % from final one year same quarter Sales of Rs 2008.12 Crore. The firm reported secure profit after tax of Rs 29.24 Crore in most fresh quarter.


Entertainment Zee-graph


Investment Rationale

The brokerage believes that Zee is taking the staunch steps, by searching out for to toughen its corporate governance insurance policies. Improved disclosures, doable strengthening of the firm’s board and the reporting of ZEE5 financials paint a sure represent. On the opposite hand, given the underperformance in basically the most fresh past, the brokerage awaits fixed shipping and transparency. The firm is banking on ZEE5 to drive subscription increase, going ahead. Administration has guided for lower film purchases and reduced working capital requirement in FY21. Given the hyper-competitive nature of the OTT condominium, it believes that it would continue to come all the plan by investments for sustainable increase, particularly with the presence of various global gamers. The first leg of additional than one re-rating will happen along with the changes in Q1 and consistency in balance sheet increase, with FCF generation offering additional re-rating in the ensuing quarters. Underperformance prior to now and balance sheet deterioration could mild depart away over time with fixed shipping. Key upside risks: 1) indispensable increase in money generation and balance sheet; 2) faster-than-estimated advert income restoration; 3) sustained double-digit subscription income increase; and 4) monetization of ZEE5

Promoter/FII Holdings

Promoters held 4.8 per cent stake in the firm as of June 30, 2020, whereas FIIs held 67.3 per cent, DIIs 9.7 per cent and public and others 18.2 per cent.

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1 Comment on this Tale

Entertainment http://economictimes.indiatimes.com/

Naveen Kumar Meena15 days prior to now

did you explain goal mark 110?