Sharescart Research Club logo

HT Media Overview

1. Business Overview

HT Media Ltd. is an Indian media company primarily involved in the publishing of newspapers and magazines, operating radio channels, and digital media platforms. Its core business revolves around content creation and distribution across various formats. The company makes money primarily through advertising revenue (print, digital, radio) and circulation revenue from its publications. Key brands include 'Hindustan Times' (English daily), 'Mint' (business daily), 'Hindustan' (Hindi daily), and 'Fever FM' (radio network).

2. Key Segments / Revenue Mix

HT Media's revenue is primarily derived from:

Print Business: This is the largest segment, encompassing advertising and circulation revenue from its flagship newspapers (Hindustan Times, Mint, Hindustan) and other publications.

Radio Business: Advertising revenue from its 'Fever FM' and 'Radio Nasha' stations.

Digital Business: Revenue from digital advertising, content subscriptions, and other digital initiatives across its news portals (e.g., livemint.com, hindustantimes.com) and other digital ventures (e.g., Shine.com for recruitment).

While exact percentages fluctuate, the print segment historically contributes the majority, with digital and radio segments growing in importance.

3. Industry & Positioning

The Indian printing and publishing industry is characterized by intense competition, especially in major urban centers and vernacular markets. HT Media is one of India's leading media conglomerates, holding a significant position in the English daily newspaper market, particularly in North India, and a strong presence in the Hindi heartland through 'Hindustan'. Key competitors include Bennett, Coleman & Co. Ltd. (The Times of India Group), Dainik Bhaskar Group, and regional players. The industry is grappling with a global shift from print to digital media, requiring companies to adapt their strategies for content delivery and monetization.

4. Competitive Advantage (Moat)

HT Media benefits from several advantages:

Established Brand Equity: Brands like 'Hindustan Times' and 'Mint' have a long history and strong reader trust, particularly in their key markets. 'Fever FM' also holds a recognizable position in the radio space.

Scale and Distribution Network: A vast network for newsgathering, printing, and physical distribution across multiple regions, especially in North India.

Content Quality: Reputational strength built on journalistic credibility and extensive coverage.

Diversification: Presence across print, digital, and radio helps mitigate risks associated with over-reliance on a single medium.

5. Growth Drivers

Digital Transformation: Successful monetization of digital content through advertising, subscriptions, and new online ventures.

Increased Advertising Spend: Recovery and growth in India's overall advertising market, especially digital ad spending driven by economic expansion.

Radio Expansion: Potential growth in Tier 2 and Tier 3 cities for its radio segment, leveraging brand recall.

Leveraging Brand Extensions: Expanding into ancillary digital services or specialized content platforms based on existing brand strength.

Vernacular Market Growth: While HT Media has a strong Hindi presence, further penetration into regional languages where applicable could be a driver.

6. Risks

Decline in Print Readership & Advertising: Continued global trend of declining print circulation and advertising revenue shifting to digital platforms.

Competition from Digital-Native Platforms: Intense competition from pure-play digital news sites, social media, and international content aggregators for audience attention and advertising spend.

Rising Input Costs: Volatility in newsprint prices and other operational costs can impact profitability.

Economic Slowdown: A downturn in the broader economy could lead to reduced advertising budgets from businesses.

Regulatory and Content Risks: Changes in media regulations, censorship, or inability to adapt to evolving consumer content preferences.

Failure in Digital Monetization: Inability to effectively convert digital readership into sustainable revenue streams.

7. Management & Ownership

HT Media Ltd. is part of the K.K. Birla Group, a prominent Indian business house. The company is promoter-led, a common structure in India where family groups hold significant stakes and influence strategic direction. This often implies a long-term strategic vision but can also mean slower adaptation to rapidly changing industry dynamics compared to professionally managed, widely held companies. The promoter group typically ensures stability and continuity.

8. Outlook

HT Media operates in a challenging yet evolving media landscape. The bull case hinges on its ability to successfully navigate the digital transition, effectively monetize its strong brand equity across various platforms (print, digital, radio), and benefit from a recovering Indian advertising market. Its established brands and diversified portfolio provide a resilient base. However, the bear case highlights the ongoing structural decline of traditional print media, intense competition from digital giants for advertising revenue, and the risk of not innovating fast enough to capture the digital audience effectively. The company's future performance will depend heavily on its strategic agility in digital transformation, cost management, and ability to unlock new revenue streams beyond traditional print advertising.

Want to Start Investing in Top Unlisted Stocks?

Our experts help you choose the right stocks based on performance, risk, and growth potential.

HT Media Key Financials

Market Cap ₹494 Cr.

Stock P/E 34.8

P/B 0.3

Current Price ₹21.2

Book Value ₹ 70

Face Value 2

52W High ₹28.2

Dividend Yield 0%

52W Low ₹ 17.7

HT Media Share Price

| |

Volume
Price

HT Media Quarterly Price

Show Value Show %

HT Media Peer Comparison

HT Media Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 394 443 464 379 424 490 514 412 452 497
Other Income 33 44 63 49 56 41 74 39 48 36
Total Income 427 486 527 427 479 530 588 451 499 532
Total Expenditure 428 458 463 420 447 484 488 442 456 482
Operating Profit -1 28 64 7 33 46 100 10 44 51
Interest 20 21 20 17 18 16 16 15 15 15
Depreciation 30 29 31 27 24 24 23 23 25 22
Exceptional Income / Expenses -32 0 -31 0 0 0 -6 0 -0 -40
Profit Before Tax -82 -22 -17 -36 -9 6 55 -28 3 -27
Provision for Tax -24 -6 -17 -9 -3 10 3 -17 7 -3
Profit After Tax -57 -15 -0 -28 -6 -3 51 -11 -4 -24
Adjustments 7 2 2 2 -1 -3 -10 -2 0 0
Profit After Adjustments -50 -13 1 -26 -8 -6 41 -13 -4 -23
Adjusted Earnings Per Share -2.2 -0.6 0.1 -1.1 -0.3 -0.3 1.8 -0.6 -0.2 -1

HT Media Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 2282 2502 2452 2346 2199 2083 1117 1500 1711 1695 1806 1875
Other Income 176 156 229 418 236 227 214 177 151 191 219 197
Total Income 2457 2658 2682 2764 2435 2310 1331 1678 1862 1886 2025 2070
Total Expenditure 2021 2179 2154 2119 2215 1940 1241 1474 1851 1767 1838 1868
Operating Profit 436 479 528 645 220 370 90 204 12 118 187 205
Interest 47 63 95 82 114 99 56 55 76 78 67 61
Depreciation 100 102 125 123 108 182 137 135 132 119 98 93
Exceptional Income / Expenses -14 0 0 3 -35 -432 -3 0 0 -62 -6 -46
Profit Before Tax 275 314 308 444 -36 -344 -106 14 -193 -140 15 3
Provision for Tax 57 80 67 86 -52 -2 -45 -7 58 -49 1 -10
Profit After Tax 218 234 241 358 16 -342 -61 21 -252 -91 14 12
Adjustments -38 -60 -70 -51 -28 -4 -10 -4 24 11 -12 -12
Profit After Adjustments 180 173 170 307 -12 -346 -71 18 -227 -81 2 1
Adjusted Earnings Per Share 7.8 7.5 7.4 13.3 -0.5 -15 -3.1 0.8 -9.8 -3.5 0.1 2.2204460492503E-16

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 7% 6% -3% -2%
Operating Profit CAGR 58% -3% -13% -8%
PAT CAGR 0% -13% 0% -24%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 17% 6% -1% -13%
ROE Average 1% -6% -4% 2%
ROCE Average 4% -1% -1% 4%

HT Media Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1902 2082 2232 2544 2511 2155 2089 2084 1800 1714 1666
Minority's Interest 192 234 300 342 363 400 407 399 355 343 383
Borrowings 68 39 17 6 293 180 107 185 72 95 26
Other Non-Current Liabilities 45 42 7 20 -42 45 -53 -96 48 -3 -11
Total Current Liabilities 1185 1924 1986 2026 1786 1467 1622 1639 1758 1798 1710
Total Liabilities 3392 4321 4542 4937 4913 4248 4172 4211 4032 3947 3774
Fixed Assets 699 988 1092 970 944 980 840 738 752 599 536
Other Non-Current Assets 1482 1829 2472 2462 1710 1941 2220 1627 1791 1404 1175
Total Current Assets 1211 1504 977 1505 2259 1327 1113 1837 1435 1846 1999
Total Assets 3392 4321 4542 4937 4913 4248 4172 4211 4032 3947 3774

HT Media Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 119 184 151 129 166 148 23 55 42 37 68
Cash Flow from Operating Activities 409 210 306 309 73 38 203 -36 -47 -53 57
Cash Flow from Investing Activities -179 -879 -266 -245 115 420 -60 55 248 142 170
Cash Flow from Financing Activities -157 636 -62 -9 -206 -585 -112 -32 -207 -57 -253
Net Cash Inflow / Outflow 73 -33 -22 54 -18 -127 31 -13 -6 31 -27
Closing Cash & Cash Equivalent 191 151 129 166 148 23 55 42 37 68 42

HT Media Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 7.8 7.53 7.39 13.32 -0.52 -14.99 -3.07 0.77 -9.83 -3.48 0.08
CEPS(Rs) 13.81 14.57 15.86 20.85 5.36 -6.92 3.31 6.78 -5.19 1.2 4.85
DPS(Rs) 0.4 0.4 0.4 0.4 0.4 0 0 0 0 0 0
Book NAV/Share(Rs) 82.55 90.31 96.82 110.33 108.93 93.44 90.55 90.07 77.78 74.09 72.02
Core EBITDA Margin(%) 11.41 12.9 12.17 9.5 -0.72 6.86 -11.09 1.77 -8.17 -4.29 -1.76
EBIT Margin(%) 14.11 15.06 16.43 21.95 3.52 -11.74 -4.53 4.58 -6.88 -3.7 4.46
Pre Tax Margin(%) 12.06 12.55 12.56 18.55 -1.64 -16.5 -9.52 0.94 -11.3 -8.29 0.83
PAT Margin (%) 9.55 9.34 9.82 14.95 0.72 -16.41 -5.46 1.43 -14.71 -5.39 0.77
Cash Profit Margin (%) 13.94 13.43 14.91 20.09 5.62 -7.67 6.83 10.45 -7.02 1.64 6.05
ROA(%) 6.65 6.06 5.43 7.55 0.32 -7.46 -1.45 0.51 -6.11 -2.29 0.37
ROE(%) 11.94 11.73 11.16 14.99 0.63 -14.65 -2.88 1.03 -12.97 -5.2 0.84
ROCE(%) 14.35 13.84 12.34 14.83 2.11 -7.46 -1.76 2.41 -4.36 -2.53 3.52
Receivable days 47.9 49.92 51.94 50.64 62.29 71.23 109.28 69.01 70.13 79.69 77.67
Inventory Days 30.26 22.93 23.54 21.36 23.96 26.69 46.34 35.93 33.05 35.83 29.2
Payable days 215.96 230.37 217.73 208.03 159.46 201.34 396.59 237.13 169.17 226.85 255.86
PER(x) 15.88 10.11 11.21 6.33 0 0 0 43.29 0 0 194.66
Price/Book(x) 1.5 0.84 0.86 0.76 0.41 0.11 0.23 0.37 0.19 0.36 0.23
Dividend Yield(%) 0.32 0.53 0.48 0.47 0.89 0 0 0 0 0 0
EV/Net Sales(x) 1.33 1.07 1.18 1.26 0.86 0.44 0.98 0.97 0.56 0.72 0.5
EV/Core EBITDA(x) 6.95 5.59 5.49 4.59 8.63 2.47 12.16 7.13 82.31 10.38 4.83
Net Sales Growth(%) 3.67 9.64 -1.98 -4.32 -6.28 -5.29 -46.35 34.29 14.04 -0.96 6.54
EBIT Growth(%) -17.25 17.02 6.98 30.37 -85.27 -415.94 79.32 235.91 -271.29 46.74 232.03
PAT Growth(%) -6.25 7.28 3.01 48.66 -95.56 -2251.35 82.14 135.17 -1272.57 63.7 115.54
EPS Growth(%) -12.48 -3.56 -1.85 80.38 -103.92 -2768.68 79.51 125.04 -1377.63 64.55 102.42
Debt/Equity(x) 0.19 0.52 0.5 0.46 0.44 0.36 0.35 0.39 0.39 0.43 0.35
Current Ratio(x) 1.02 0.78 0.49 0.74 1.26 0.9 0.69 1.12 0.82 1.03 1.17
Quick Ratio(x) 0.93 0.71 0.41 0.68 1.17 0.81 0.6 1.03 0.73 0.93 1.1
Interest Cover(x) 6.89 6.01 4.24 6.44 0.68 -2.47 -0.91 1.26 -1.56 -0.81 1.23
Total Debt/Mcap(x) 0.13 0.62 0.58 0.6 1.06 3.37 1.52 1.04 2.03 1.2 1.52

HT Media Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 69.51 69.51 69.51 69.51 69.51 69.5 69.5 69.5 69.5 69.5
FII 0.25 0.09 0.07 0 0.01 0.02 0.02 0.09 0.07 0.01
DII 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
Public 30.2 30.36 30.38 30.45 30.44 30.43 30.43 30.36 30.38 30.44
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

HT Media News

HT Media Pros & Cons

Pros

  • Stock is trading at 0.3 times its book value
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of -6% over the last 3 years.
  • Debtor days have increased from 226.85 to 255.86days.
whatsapp