Zee Entertainment Enterprises Ltd., incorporated in 1982, is a large capitalization company (having a market capitalization of Rs 26270.10 Crore) operating in the media and entertainment sector.
The main products/revenue segments of Zee Entertainment Enterprises Ltd. includes advertising revenue, subscription revenue, television content, transmission revenue, other operating revenue and commissions for the year ending March 31, 2021.
For the quarter ended 31-12-2021, the company reported consolidated total revenue of Rs 2130.44 Crore, up 5.97% from last quarter, total revenue of Rs 2010.47 Crore and up down -22.72% compared to the same quarter last year. Total income of Rs 2756.93 Crore. The company reported net profit after tax of Rs 298.91 Crore last quarter.
In the short term, there is a risk associated with corona virus cases, but given its large portfolio, strong pipeline, merger synergies and significant growth in digital platform business, it reiterates the BUY rating on the stock with a revised target price of Rs. 325 based on 18.0x FY24E adj. EPS.
The promoters held 3.99% of the company’s capital as of December 31, 2021, while the FIIs held 52.21% and the DIIs 20.86%.
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