NSE: HMVL · BSE: 533217
HINDUSTAN MEDIA VENT LTD
Prints and publishes newspapers and periodicals in both English and Hindi, generating 729.5 crore from this segment in FY26 (98.6% of segment revenue). The print business grew advertising revenue 8% year-on-year, with operating EBITDA improving 82% for the year. The company is part of the HT Media Group, with HT Media Limited as its promoter. Alongside its print mastheads, it had run a Radio business that saw a 32% revenue decline and was scaled back by surrendering non-viable radio licenses. Its OTTplay digital subscription business was discontinued on March 31, 2026 after failing to reach sustainable profitability, contributing a loss of 92.4 crore after tax. Total revenue from continuing operations was 739.6 crore in FY26, up 9.9% from FY25, with EBITDA from continuing operations at 204.1 crore. The biggest operating cost is materials at 29.7% of revenue, primarily newsprint, while employees account for 19.0% and other operating expenses for 36.2%. The company holds net cash of 1,001 crore and made new investments of up to 21.66 crore in Assetvault Limited and up to 9.34 crore in KSKT Agromart during FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Printing & publishing of newspapers & periodicals (99%), Unallocated (1%). Asset-light print media publishing with declining Radio and discontinued digital OTTplay
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 669 | 713 | 704 | 733 | 740 |
| EBITDA (ex other income) | 9 | (87) | (75) | (32) | 96 |
| margin % | 1.3 | (12.1) | (10.6) | (4.4) | 13.0 |
| Owners' profit | 41 | (38) | 10 | 0 | 49 |
| EPS, as reported (₹) | 5.51 | (5.17) | 1.35 | 10.56 | 6.61 |
| ROE % · ROCE % | 2.6 · 3.5 | (2.6) · (2.6) | 0.7 · 0.3 | 5.1 · 5.6 | 3.1 · 10.4 |
| Debt / equity (x) | 0.07 | 0.04 | 0.04 | 0.01 | 0.04 |
| Cash from operations | 54 | 52 | 16 | 38 | 72 |
| Capex | (15) | (14) | (15) | (4) | (3) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 172 | 197 | 201 | 183 | 197 | 212 | 216 | 197 |
| Profit before tax | 15 | 20 | 46 | 12 | 11 | 1 | 72 | 69 |
| Net profit | 14 | 18 | 45 | 10 | 10 | 1 | 27 | 51 |
| EPS (₹) | 1.88 | 2.44 | 6.16 | 1.39 | 1.37 | 0.12 | 3.73 | 6.95 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Printing & publishing of newspapers & periodicals | 732 | 90.4 |
| Unallocated | 10 | 1.3 |
| Digital | 68 | 8.4 |
| Total, before eliminations | 810 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| D.B.CORP LTD | 2,674 | 7.6 | 1.10 | 4.5 | 13.7 | 16.2 | 9.3 | 27.3 |
| JAGRAN PRAKASHAN LIMITED | 1,347 | 7.1 | 0.63 | 3.6 | 8.7 | 11.7 | 7.8 | 20.4 |
| SANDESH LTD | 780 | 7.3 | 0.55 | 7.4 | 4.6 | 6.5 | 9.9 | 24.4 |
| HINDUSTAN MEDIA VENT LTD ◆ | 560 | 6.2 | 0.35 | 3.3 | 3.1 | 10.0 | 6.3 | 38.1 |
| HT MEDIA LIMITED | 524 | — | 0.26 | 6.2 | (2.4) | 1.4 | 10.0 | 20.8 |
| ENCODE PACKAGING INDIA LIMITED | — | — | — | — | (0.0) | (0.0) | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.2 | 7.6 | 4 of 19 | 83% |
| P/B | 0.3 | 0.9 | 3 of 17 | 88% |
| ROCE | 10.0 | 9.8 | 12 of 24 | 52% |
| ROE | 3.1 | 3.8 | 10 of 18 | 47% |
| Debt / Equity | 0.0 | 0.0 | 13 of 18 | 29% |
| EBITDA margin | 38.1 | 20.6 | 1 of 16 | 100% |
| Revenue growth | 7.8 | 9.6 | 12 of 16 | 27% |
| Profit growth | 399.7 | 19.4 | 3 of 16 | 87% |
| Market cap | 560 | 143 | 6 of 24 | 78% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to review September quarter and half-year results on 4 November | compliance | minimal | — | — |
| 9 Oct 2026 · Quarterly RTA certificate under SEBI Reg 74(5); no demat requests | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed from Sep 30 until Q2 results announcement | compliance | minimal | — | — |
| 24 Sept 2026 · AGM 2026 voting results: Both resolutions approved with over 99.99 percent majority | compliance | minimal | — | — |
| 24 Sept 2026 · Summary of 16th AGM proceedings - 24 Sep 2026 | board shareholder meetings | medium | — | — |
| 8 Sept 2026 · HMVL converts OCDs into 2.48 percent equity stake in StockGro for Rs 85 Cr | strategic transactions | high | — | — |
| 1 Sept 2026 · AGM notice published in newspapers; 16th AGM on Sept 24, 2026 | compliance | minimal | — | — |
| 31 Aug 2026 · HMVL sends AGM notice weblink to shareholders without registered emails | compliance | minimal | — | — |
| 31 Aug 2026 · AGM notice on Sept 24 and FY-26 annual report filed | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Notice of 16th AGM and Annual Report for FY-26 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.