Company Overview. Industry Overview. Financial Performance
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- Horace Gregory
- 5 years ago
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1 Jan/15 Feb/15 Mar/15 Apr/15 May/15 Jun/15 Jul/15 Aug/15 Sep/15 Oct/15 Nov/15 Dec/15 CMP: January 20, 2016 Stock Details BSE code BSE ID JUPITERIN Face value ( ) 10 No of shares (m) week H/L 38.10/18.75 Market cap ( m) days avg. daily vol (No) 8,046 Free float ( m) 84 Dividend yield FY15 (%) 0.4% Stock performance (%) 1M 3M 12M Absolute -12.9% -21.7% 36.3% Rel. to Sensex 6.0% 9.5% 53.3% Shareholding Pattern* (%) Promoters FIIs DIIs Public 66.15% % % 33.85% *As of September 2015 Relative Chart Company Overview Jupiter Infomedia is Indian based web infomedia company with online publication on Business, Encyclopedia, Yellow pages, News & Events related to India. The company is involved in developing the India s largest online library, which will provide fast and accurate information to its visitors about India. Industry Overview The online web publication sector is growing with a robust growth rate since The main reason behind growth of the sector is increase rapid technology adaption like smartphone, tablet and other portable screen devices. The growth in the web publication sector is also edged by increase in the use of internet and introduction of technologies like 3G and 4G. Financial Performance Jupiter reported a revenue of 4.1 million for FY 15, down 26.0% YoY from 5.5 million in FY14. The company reported a net profit of 0.6 million for the fiscal year For the second quarter of FY 16 company reported a top line of 0.4 million and bottom line was at 0.1 million. 40 Jupiter Infomedia ltd Sensex 30,000 Table1: Key Financials ,000 28,000 27,000 (Y/e March) Q2 15 Q2 16 Sales ( m) NA ,000 25,000 24,000 23,000 YoY Growth (%) -4.4% -10.5% -26.0% NA NA EBITDA ( m) NA 0.5 EBITDA Margin 31.3% 54.9% 63.1% NA 102.3% 0 22,000 PAT ( m) NA 0.1 EPS ( ) NA Source: Bloomberg YoY Growth (%) 358.7% -33.0% -0.6% NA NA Source: Company, Karvy Investment Advisory 1
2 Background and Business Description Jupiter Infomedia is Indian based web infomedia Company with online publication on Business, Encyclopedia, Yellow pages, News & Events related to India. The company is involved in developing the India s largest online library, which will provide fast and accurate information to its visitors about India. At present company have three publications: JimTrade.com Online business directory of India IndiaNetzone.com Free encyclopedia directory of India JimYellowpages.com Online Yellow-pages of India Key Strengths High growth in internet users. Risks & Concerns Being the company that is in technology segment, the company faces the risk of obsolescence on account of innovation or new product development Competition Board of Directors Table 2: Composition of Board Name Mr. Umesh Modi Mrs. Manisha Modi Mr. Jay Desai Mr. Digesh Rambhia Mr. Akshay Desai Source: Company Relation with Company Chairman and managing Director Chief Financial Officer Director Director Director 2
3 Industry Overview The online web publication sector is growing with a robust growth rate since The main reason behind growth of the sector is increase rapid technology adaption like smartphone, tablet and other portable screen devices. The growth in the web publication sector is also edged by increase in the use of internet and introduction of technologies like 3G and 4G. As the sector is continuously growing with a robust growth rate, more and more investors are showing interest in the sector. India s overall retail opportunity is substantial, and coupled with a demographic dividend (young population, rising standards of living and upwardly mobile middle class) and rising internet penetration, strong growth in Web Publication is expected. Such early stage funding will help companies develop a strong foundation to start from. With such strong market prospects and an equally upbeat investor community, many more Web Publication companies from India entering the coveted club. Peer group analysis Company CMP ( ) Mcap ( m) Rev ( m) OPM (%) EPS ( ) PE (x) Jupiter Infomedia Ltd % x i Street Network Ltd NM (1.6) NM Info Edge (India) Ltd , , % x Source: BSE 3
4 Financial Analysis Jupiter reported a revenue of 4.1 million for FY 15, down 26.0% YoY from 5.5 million in FY14. Net profit for the company was at million in FY15, down 0.6% YoY from million in FY14. EPS was at 0.1 in FY15 compare to 0.2 in FY14. Return on equity was flat YoY at 1.0% in FY 15. Interest coverage ratio was at comfortable level in FY15 with ratio at 3.5x. Year end March Income statement ( million) Revenue % growth -4.4% -10.5% -26.0% EBITDA % EBITDA margin 31% 55% 63% Depreciation and Amortization EBIT Interest PBT Tax (0.1) (0.1) 0.3 Net profit % growth net profit 358.7% -33.0% -0.6% Balance sheet ( million) Shareholder fund Non Current liabilities Current liabilities Non Current assets Current assets Cash & cash equivalent Cash flow statement Cash flow operations Cash flow from investing (38.0) (1.3) (42.0) Cash flow from financing Per share data EPS ( ) CEPS ( ) (0.1) (0.2) 0.1 DPS ( ) NA NA NA BVPS ( ) Financial Ratios % ROE 2% 1% 1% ROCE 2.8% 3.1% 0.8% Debt/Equity Interest coverage ratio Current ratio Cash ratio Source: Company, Karvy Investment Advisory 4
5 Financial Snapshot Revenue growth (%) EBITDA margin (%) % -5.0% -1% -15.0% -2% -25.0% -3% % 6% 4% 2% % Revenue ( m) % growth EBITDA ( m) % EBITDA margin Net Profit Margin (%) BVPS & EPS % 15.0% 1% 5.0% % Net Profit ( m) % net profit margin Book value per share ( ) EPS diluted ( ) Liquidity ratios Profitability ratios % 3.0% 2.0% 1.0% % Current ratio Cash ratio ROE ROCE Source: Company data and Karvy Investment Advisory 5
6 DISCLAIMER Karvy Investment Advisory Services Ltd (KIASL), an entity of the Karvy Group, has taken utmost care to ensure accuracy and objectivity while writing this report based on publicly available information or from sources considered reliable. However, neither the accuracy nor completeness of information contained in this report is guaranteed. Opinions expressed herein are our current opinions as on the date of this report. Nothing in this report can be construed as either investment or any other advice or any solicitation, whatsoever. The subscriber/user assumes the entire risk of any use made of this report or data herein. KIASL specifically states that it or any of its entities or employees do not have any financial liabilities whatsoever to the subscribers / users of this report. This report is for personal information of the authorized recipient in India only. This report or any part of it should not be reproduced or redistributed or communicated directly or indirectly in any form to any other person or published or copied for any purpose. DISCLOSURE Associates of KIASL might have received compensation from the subject company mentioned in the report during the period preceding twelve months from the date of this report for investment banking or merchant banking or brokerage services from the subject company in the past twelve months or for services rendered as stock broker, Registrar and Share Transfer Agent, Commodity Broker, Currency and forex broker, merchant banker and underwriter, Investment Advisory services, insurance repository services, consultancy and advisory services, realty services, data processing, profiling and related services or in any other capacity. KIASL encourages independence in research report preparation and strives to minimize conflict in preparation of research report. Compensation of KIASL Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. KIASL generally prohibits its analysts, persons reporting to analysts and their relatives from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover. KIASL and/or its subsidiaries and /or its group companies collectively or Research Analysts do not own 1% or more of the equity securities of the Company mentioned in the report as of the last day of the month preceding the publication of the research report. KIASL or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report and have no financial interest in the subject company mentioned in this report. Accordingly, neither KIASL nor Research Analysts have any material conflict of interest at the time of publication of this report. It is confirmed that KIASL and Research Analysts primarily responsible for this report and whose name(s) is/ are mentioned therein of this report have not received any compensation from the subject company mentioned in the report in the preceding twelve months. PUBLISHED BY KIASL is a part of the Karvy Group, a premier integrated financial services provider. We offer a wide array of investment advisory services including Comprehensive Financial Planning, Wealth Review and Investment Strategy services, Equity Review and Investment Strategy, Mutual Fund Review and Investment Strategy, Wealth Advice Package, and Wealth Planning for Retired Individuals. Head Office: 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad, , Telangana, India. Tel:
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