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View Claim Ledger →DB Corp Ltd — Q4 FY26
DB Corp reported a steady Q4 FY26 with consolidated revenue of ₹589.6 crore (+4% YoY) and PAT of ₹62.2 crore (+18.8% YoY), driven by 6% advertising growth in print, partially offset by flat circulation.
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DB Corp reported a steady Q4 FY26 with consolidated revenue of ₹589.6 crore (+4% YoY) and PAT of ₹62.2 crore (+18.8% YoY), driven by 6% advertising growth in print, partially offset by flat circulation. EBITDA margin expanded ~200bps YoY to ~20%, aided by cost control. Digital MAUs stood at 20 million, maintaining leadership in Hindi/Gujarati news apps. Radio segment added 7 new stations, all breakeven within 3 months. Management guided for continued single-digit ad growth in FY27, but flagged 6-8% newsprint cost inflation in Q1 FY27, which may pressure margins. Key risk: circulation volumes declined ~2% YoY to 39 lakh copies amid structural headwinds and delivery boy shortages.
Promises0 met · 2 missedRisks4 trackedTranscriptfull text
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0 delivered, 0 close, 2 missed.
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Newsprint cost inflation
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Read Transcript →Quarter Snapshot
Monthly Active Users (MAUs)
20M
-2M vs earlier peak
Digital news apps MAUs declined from ~22M earlier; management attributes to monthly fluctuations.
Circulation Copies
39L
-2% YoY
Circulation volumes dropped ~1 lakh copies YoY; management cites industry headwinds and delivery challenges.
Newsprint Cost per Ton
₹49,000
+2.1% QoQ
Average newsprint cost rose from ₹48,000 in FY26 to ₹49,000 in Q4; expected to rise 6-8% in Q1 FY27.
Radio Segment Revenue
₹35.8 Cr
flat YoY
Radio advertising revenue stable; 7 new stations added, all breakeven in 3 months.
What Changed vs Last Quarter
NEW
Advertising revenue growth of strong single-digit in FY27
Management expects continued strong single-digit advertising growth in FY27, with April showing double-digit growth.
NEW
EBITDA margin maintenance around 24-26%
Management believes maintaining EBITDA margin at current levels (24-26%) is achievable despite newsprint cost pressures.
NEW
Newsprint cost increase of 6-8% in Q1 FY27
Newsprint prices expected to rise 6-8% in Q1 FY27 due to global supply dynamics and rupee depreciation.
NEW
Capex of ~₹120 crore for property buyouts
Company plans to spend ~₹120 crore on buying out rented properties for printing presses and offices to reduce rental costs.
DROPPED
New radio stations operational by June 2026
14 new radio stations to be operational by end of Q1 FY27, with 7 standalone stations starting by March/April 2026.
DROPPED
Government ad rate hike of 26% to benefit from Q4
Government approved 26% increase in print ad rates; implementation underway and impact visible from Q4 FY26.
DROPPED
Digital burn rate to become negligible in 2-3 years
Digital business currently loss-making but burn rate expected to become negligible as revenue scales.
NEW RISK
Newsprint cost inflation
Newsprint prices expected to rise 6-8% in Q1 FY27, which could compress margins if not offset by ad revenue growth.
NEW RISK
Circulation volume decline
Circulation dropped ~2% YoY to 39 lakh copies; structural headwinds and delivery boy shortages may persist.
NEW RISK
Digital monetization uncertainty
Digital business has 20M MAUs but no clear timeline for meaningful revenue; new hire yet to show results.
NEW RISK
Geopolitical impact on advertiser sentiment
PM's call for restrained discretionary spending may affect advertising in jewelry, real estate, and auto sectors.
RISK GONE
Radio business structural decline
Radio advertising revenue declined sharply due to high base and lack of news content; management expressed concern about industry growth without regulatory changes.
RISK GONE
Real estate advertising slowdown
Real estate category has slowed post-Diwali due to price hikes; developers are holding back, impacting a key ad vertical.
RISK GONE
Newsprint price volatility
Geopolitical tensions and forex fluctuations could push newsprint prices up by a couple of percentage points, impacting margins.
Fast read
Guidance and risk preview
Management expects continued strong single-digit advertising growth in FY27, with April showing double-digit growth.
Newsprint prices expected to rise 6-8% in Q1 FY27, which could compress margins if not offset by ad revenue growth.
View Risks →