Zee Entertainment Enterprises Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 30818.15 Crore) operating in Media & Entertainment sector.
Zee Entertainment Enterprises Ltd. key Products/Revenue Segments include Income From Advertisement, Subscription Income, Television Content, Transmission Revenue, Other Operating Revenue and Commission for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 2010.47 Crore, up 11.16 % from last quarter Total Income of Rs 1808.56 Crore and up 14.19 % from last year same quarter Total Income of Rs 1760.61 Crore. Company reported net profit after tax of Rs 266.04 Crore in latest quarter.
Investment Rationale
Zee is expected to fare much better in Q3FY22 with continued revenue growth momentum owing to opening of theatres, strong performances from new launches and expected new launches and the proposed merger. This will aid the company in achieving synergies via cost reduction and development of better-quality products. The brokerage expects earnings to grow at healthy ~30% CAGR over FY21-23E. Hence the brokerage reiterates rating on the stock as BUY with a revised target price of Rs. 389 based on 24.0xFY23E adj. EPS.
Promoter/FII Holdings
Promoters held 3.99 per cent stake in the company as of 30-Sep-2021, while FIIs owned 57.18 per cent, DIIs 15.98 per cent.
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