Overview

Detailed Summary

DB Corp Limited is India's largest and a diversified media conglomerate involved in publishing newspapers, radio broadcasting, and digital platform for news, with renowned brands like Dainik Bhaskar.
The company faced a challenging Q3 FY '26 due to high competition from previous festive and election ad revenues, resulting in a 4% YoY revenue decline, yet maintained steady advertising revenues and EBITDA growth through cost efficiencies.
Print media remains a strong component with ongoing efforts to strengthen circulation and reader engagement, despite a high base from last year. Innovative reader schemes are ongoing to stabilize and possibly grow readership numbers.
The digital business shows promising potential as a growth pillar, with around 21 million monthly active users for their news apps, leading in the Hindi and Gujarati language space.
DB Corp is strategically expanding its FM radio network, planning to operationalize new stations despite current pressure on advertising revenues and lack of permission for news content.

Sector: Media - Print/Television/Radio
Industry: Entertainment - Electronic Media
Market Cap: 3,748 Cr
Volatility: Low Risk
P/E Ratio: 11.6
Industry P/E: 14.6
PEG Ratio: 1.5
P/B Ratio: 1.6
52W High: 290.80
52W Low: 204.05

Sales CAGR

1Y: -2.62%
3Y: 9.76%
5Y: 1.01%
10Y: 1.48%

Profit CAGR

1Y: -12.82%
3Y: 37.54%
5Y: 6.16%
10Y: 2.54%

ROE

TTM: 14.97%
3Y: 15.10%
5Y: 12.37%
10Y: 15.12%

ROCE

TTM: 18.39%
3Y: 18.78%
5Y: 15.65%
10Y: 20.03%

Technicals

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Forecasts

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Analyst Target, Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
NETWORK18	32.32	5,025 Cr	32.32	1.02	0.00	0.16	3.72	1.75
DBCORP	210.00	3,748 Cr	11.62	1.63	5.70	14.97	18.39	10.26
AQYLON	93.00	2,360 Cr	-9.71	0.00	0.00	-4.17	-5.29	-43.95
JAGRAN	63.41	1,381 Cr	8.40	0.71	9.46	8.89	9.23	4.54
DEN	26.97	1,277 Cr	6.78	0.34	0.00	5.17	6.34	4.40
SIGNPOST	229.10	1,236 Cr	24.45	4.93	0.22	15.00	13.49	7.56
BRIGHT	405.85	886 Cr	30.96	5.49	0.08	11.59	15.50	9.94

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	586	645	617	590	559	643	548	559	614	605
Expenses	434	462	445	425	438	465	465	449	476	470
Operating Profit	152	183	172	164	121	177	83	111	138	135
OPM %	25.88	28.39	27.89	27.88	21.59	27.57	15.08	19.77	22.48	22.33
Other Income	16	20	25	26	24	13	19	28	20	24
Interest	5.66	6.81	6.31	5.78	6.71	5.70	6.54	6.52	6.98	5.64
Depreciation	29	29	29	28	27	24	24	24	25	25
Profit Before Tax	133	167	162	157	110	160	71	108	126	129
Tax %	24.60	25.93	24.14	25.10	25.17	26.14	26.06	24.87	25.97	25.82
Net Profit	100	124	123	118	83	118	52	81	93	96
EPS in Rs	5.62	6.95	6.86	6.61	4.63	6.63	2.94	4.53	5.24	5.36

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,258	2,328	2,463	2,224	1,508	1,769	2,129	2,402	2,339	2,309
Expenses	1,616	1,765	1,958	1,742	1,203	1,466	1,807	1,779	1,794	1,818
Operating Profit	642	564	504	482	305	303	322	623	545	491
OPM %	28.44	24.21	20.47	21.65	20.21	17.12	15.13	25.95	23.29	21.27
Other Income	17	24	17	12	28	20	39	80	82	83
Interest	7.45	6.70	8.50	25	24	18	21	24	25	25
Depreciation	86	92	99	121	115	110	112	114	104	100
Profit Before Tax	565	488	414	348	193	195	228	565	499	449
Tax %	33.72	33.68	33.81	21.02	26.82	26.76	25.79	24.75	25.59	25.59
Net Profit	375	324	274	275	141	143	169	426	371	334
EPS in Rs	20.86	18.15	15.26	15.41	7.90	7.99	9.46	23.86	20.80	18.07
Dividend Payout %	40.56	5.69	65.32	63.69	37.31	61.80	94.54	20.95	57.66	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	184	184	184	175	175	175	177	178	178	178
Reserves	1,163	1,410	1,745	1,652	1,503	1,648	1,705	1,770	2,043	2,046
Borrowings	114	56	45	51	345	248	199	213	253	283
Other Liabilities	539	434	462	516	463	405	456	418	518	547
Total Liabilities	2,000	2,084	2,435	2,394	2,486	2,476	2,537	2,579	2,993	3,055
Fixed Assets	891	862	942	906	1,136	1,108	1,054	981	985	934
CWIP	46	21	21	1.16	0.87	0.44	0.18	0.87	2.39	9.65
Investments	69	75	95	117	104	108	114	158	141	132
Other Assets	994	1,126	1,377	1,370	1,245	1,259	1,369	1,439	1,864	1,980
Total Assets	2,000	2,084	2,435	2,394	2,486	2,476	2,537	2,579	2,993	3,055

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	335	360	364	235	363	374	371	243	579	414
Cash from Investing Activity	-182	-32	-198	-21	-154	-137	-224	-143	-380	-11
Cash from Financing Activity	-240	-244	-42	-381	-307	-151	-155	-132	-194	-366
Net Cash Flow	-87	84	124	-166	-98	86	-7.42	-32	4.62	37

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	71.98%	71.97%	71.95%	71.94%	71.93%	72.36%	72.36%	72.35%	72.95%	73.48%	73.77%	74.25%
FIIs	12.48%	12.52%	13.02%	13.34%	13.34%	13.44%	13.85%	14.06%	13.07%	12.77%	12.62%	12.24%
DIIs	4.13%	4.20%	4.36%	4.63%	4.74%	4.68%	4.85%	4.80%	4.08%	4.17%	4.18%	4.20%
Public	11.40%	11.31%	10.67%	10.09%	9.99%	9.53%	8.94%	8.79%	9.91%	9.59%	9.43%	9.31%
Total Shareholders	37,039	34,327	41,114	44,062	39,140	36,769	38,946	39,346	43,136	43,259	42,295	41,424

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q1 FY25

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