DB Corp Ltd — Q4 FY26

DB Corp Ltd Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=9YoC2QSAQX8 Published: 2 days ago

0:01 1 second Ladies and gentlemen, good evening and welcome to DB Corp Limited Q4 and FI26 earnings conference call. As a reminder, 0:09 9 seconds all participant lines will be in the listenon only mode. There will be an option for you to ask questions after the presentation concludes. Should you 0:17 17 seconds need assistance during the conference call, please signal an operator by pressing start then zero on your touchstone phone. Please note that this 0:24 24 seconds conference is being recorded. We have with us today the senior management team of DB Corp Limited, Mr. Pavanakarval, 0:31 31 seconds deputy managing director, Mr. Girisha Garval, promoter director, Mr. Al Chan, Chief Financial Officer, Mr. Mustak Ali, 0:39 39 seconds senior vice president, finance and accounts, and Mr. President Kumar Pande, head investor relation and media relations who will represent DB Corp Limited on the call. 0:52 52 seconds The management will be sharing the key operating and financial highlights for the quarter and full year ended March 31st 2026 followed by the question and 1:01 1 minute, 1 second answer session. Please note that some of the statements made in today's discussion may be forward-looking in nature and may involve risk and uncertainties. 1:10 1 minute, 10 seconds Document relating to the company's financial performance have already been emailed to you and are available on the website of stock exchanges and the company's investors section. 1:21 1 minute, 21 seconds trust you have been able to go through the sea. I now hand the conference over to Mr. Pavanagarval. Thank you and over to you sir. 1:30 1 minute, 30 seconds Thank you and good evening everyone and thank you for joining us for the Q4 and FI26 earnings call. We will begin with a 1:38 1 minute, 38 seconds brief overview of our financial performance for the quarter and the full year ended March 31st 2026 followed by key operational updates across our 1:46 1 minute, 46 seconds businesses. Despite a global uh geopolitical uncertaintities during the quarter gone by, our print business 1:53 1 minute, 53 seconds continued to grow steadily supported by improving improving uh advertiser sentiment across key sectors such as education, real estate, healthcare, 2:03 2 minutes, 3 seconds automobile and government. Our consolidated advertising revenue in Q4 FI26 grew by around 6% yearonear to 2:11 2 minutes, 11 seconds Indian rupees 4,67 million compared to Indian rupees 3,841 2:18 2 minutes, 18 seconds million in Q4 FI25 along with stable circulation revenue at Indian rupees 1162 million. The 2:28 2 minutes, 28 seconds consolidated total revenue grew by 4% yearonear to Indian rups 5,896 2:36 2 minutes, 36 seconds million and IITA for the quarter grew by 15.6% yearon year to Indian rupees 1,176 2:44 2 minutes, 44 seconds million while profit after tax grew by 18.8% 8% yearonear to Indian rupees 622 2:52 2 minutes, 52 seconds million underscoring the resilience and operational strength of a business model for fy 2026 our performance was largely 3:00 3 minutes flat compared to the last fiscal with consolidated total revenues at Indian rupees 24,48 3:08 3 minutes, 8 seconds million compared to Indian rupees 24,212 million in 525 sites I diet Indian 3:17 3 minutes, 17 seconds rupees is 5,736 million and PAT at Indian rupees 3320 million. However, on a likelike basis 3:26 3 minutes, 26 seconds that is after excluding last year's election impact, our print advertising revenue delivered a healthy growth of 3:31 3 minutes, 31 seconds 6.3% yearonear and IBIDA growth of 7.1% yearonear with IBIDA margin expansion of 66 bps to a robust 28% in FY 2026. 3:44 3 minutes, 44 seconds On the cost side, new sprint prices witnessed some upward trend during the quarter due to factors such as material cost pressures, global supply dynamics 3:53 3 minutes, 53 seconds and logistics cost and demand supply imbalances. Uh we believe the current trend is temporary and may continue for the next couple of quarters. 4:02 4 minutes, 2 seconds Moving on to our digital business, digital continues to be a focused business area for the company. As of March 2026, our news apps recorded 4:10 4 minutes, 10 seconds around 20 million monthly active users, maintaining Danx ascar's leadership position as the number one Hindi and Gujati news app. Our focus continues to 4:18 4 minutes, 18 seconds remain on high quality content, better user experience, and strengthening our technology platform to improve engagement as well as retention. We 4:27 4 minutes, 27 seconds continue to see strong traction in hyper localal content, visual storytelling and personalized content formats across our markets. In the radio segment, 4:36 4 minutes, 36 seconds advertising revenues for the quarter stood at Indian rupees 358 million while cigar stood at Indian rupees 95 million. 4:44 4 minutes, 44 seconds During the year, my FM expanded its network with seven new stations rendering our business now to 37 cities across India and happy to share that all 4:53 4 minutes, 53 seconds new seven stations are becoming beta positive within 3 months time only. We continue to focus on strengthening listener engagement through innovative 5:01 5 minutes, 1 second content and on ground activations. With this I would now like to hand over a call to Mr. Girishagal for his comments. 5:08 5 minutes, 8 seconds Thank you. Over to you Diji. 5:10 5 minutes, 10 seconds Thank you Pawan. Uh and good evening everybody and thank you for joining us today. 5:16 5 minutes, 16 seconds Print as a medium continues to perform consistently for us and continues to demonstrate resilience despite the perception in some sections that print 5:24 5 minutes, 24 seconds is declining medium. Over the last few years, our company has consistently delivered robust performance across 5:30 5 minutes, 30 seconds businesses. Between FY22 and FY25, our advertising revenue has grown at a healthy CAGGR of around 13%. While our 5:40 5 minutes, 40 seconds continued focus on operational efficiencies and cost discipline helped deliver a consolidated PAT CAGR of around 38%. 5:48 5 minutes, 48 seconds During 2026 also we witnessed the momentum continuing as reflection reflected in the performance highlighted by the power. 5:59 5 minutes, 59 seconds Our focus on maintaining strong reader connect and market leadership in circulation also continues. We are happy to share that our circulation revenue 6:07 6 minutes, 7 seconds remains stable and our on ground uh activities and initiatives are able to engage the readers. On the editorial 6:16 6 minutes, 16 seconds front, our focus continues to remain on impactful and responsible journalism. 6:22 6 minutes, 22 seconds During the quarter, several of our editor editorial initiative received strong responses from leaders. Our investigative journalism efforts also 6:31 6 minutes, 31 seconds continued to create impact across state by highlighting issues related to people, corruption, and public interest. 6:38 6 minutes, 38 seconds Two of our journalists were awarded the prestigious Amnad Goena award and I'm happy to share with you that this is the 6:46 6 minutes, 46 seconds first time that any Hindi language newspaper journalist have been awarded this prestigious journalism award. Not 6:53 6 minutes, 53 seconds only this, there are few other awards our journalists have received in last one year. It is very very encouraging 7:00 7 minutes for us. With that, now we can open the floor for the question and answer session. Thank you very much. 7:08 7 minutes, 8 seconds Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on the touchstone 7:16 7 minutes, 16 seconds telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to please limit your questions 7:25 7 minutes, 25 seconds to two per participant and to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question cube assembles. 7:47 7 minutes, 47 seconds The first question is from the line of Dwang Sha from and financials. Please go ahead. 7:53 7 minutes, 53 seconds Yeah. Hi. Uh so there are two questions. Uh the two parts. Am I audible sir? Yes sir very much. 8:02 8 minutes, 2 seconds Yeah. So the question is regarding the uh future prospects like what are we expecting for the next like the state 8:11 8 minutes, 11 seconds elections were there. So are we going to see in the next quarter of bumping on that other incomes or something like 8:18 8 minutes, 18 seconds that or like is there any plan to achieve 18% or 16% plus a bit margin or something or like that? 8:28 8 minutes, 28 seconds Uh sir if you notice um last year our performance if I take the election revenues out was around 6 and a half%. 8:36 8 minutes, 36 seconds On the advertising and uh same was the quarter number. Now this year in the month of April we have seen a very good 8:44 8 minutes, 44 seconds double-digit strong growth and uh looking at the fundamentals of Indian market uh the ground numbers I am very 8:54 8 minutes, 54 seconds confident that this growth should continue of a strong singledigit number even for this year also now my iida 9:01 9 minutes, 1 second margin last year was uh this what the year what we closed was 24% before this year we were at 26%. 9:09 9 minutes, 9 seconds So we believe that the maintaining of this number this margin should be uh should be achievable. 9:18 9 minutes, 18 seconds Okay sir the other thing is like uh in last 6 to 12 months the promoter uh one of the promoter was constantly buying 9:25 9 minutes, 25 seconds from the open market shares. So is there any plan to uh reach uh beyond 75% if 9:33 9 minutes, 33 seconds you re then you have to go for the open offer for the dlisting or something or something like that. Is there any plan for that or it's like just to cap up till 75 only? 9:43 9 minutes, 43 seconds Yes, you are right. Just to cap up till 75 sir. 9:47 9 minutes, 47 seconds Okay, that's fine sir. That that's all from my side. Thank you sir. Thank you. 9:54 9 minutes, 54 seconds The next question is from the line of Ria Meta from Equitas. Please go ahead. 9:59 9 minutes, 59 seconds Uh thank you for good set of numbers. My first question is in regard to the segmental numbers. Hello. Am I audible? 10:05 10 minutes, 5 seconds Yes. Yes. Yes. Thank you for your compliment. 10:08 10 minutes, 8 seconds Yeah, thank yeah. So for the I think we've done phenomenal 7.2% Y returns. 10:14 10 minutes, 14 seconds Could you help me break up between the segments where sector and segments where this growth is coming from barring out the government including the 10:23 10 minutes, 23 seconds election advertising. Every other segment has shown a growth from single digit to some of them into a double digit also. 10:31 10 minutes, 31 seconds Okay. Uh how is auto performed predominantly? Auto education. 10:38 10 minutes, 38 seconds Auto had a single digit growth. Real estate had a double digit. Jewelry had a double digit. Healthcare had a double digit. 10:45 10 minutes, 45 seconds Okay. Uh thank you. Sorry. FMCG was flat. 10:52 10 minutes, 52 seconds FMCG was right. Uh now coming to our cash flow. Uh so basically there is some 10:59 10 minutes, 59 seconds KEX which we are going of 120 K. Could you help me where is this money going to? Largely with this money is going into buying out the existing properties. 11:11 11 minutes, 11 seconds What we have rental for example in most of the places we have rented out the properties for our printing presses and 11:18 11 minutes, 18 seconds offices. So we are uh slowly and gradually trying to buy out these properties so that we don't have to pay the rent. 11:26 11 minutes, 26 seconds Got it. Because it is a good sum of 140 odd crores for the full year. Correct. This includes our Bopal office. 11:33 11 minutes, 33 seconds uh you know we are making a gopal office, Jaipur office, Kota, Orurangabad printing unit, Nasi, Jala 11:42 11 minutes, 42 seconds uh all these places where we have rented properties we are buying them out but uh what would be the key thesis 11:49 11 minutes, 49 seconds while we are uh going through this approach while I think the rental yields would be very less there so would it not 11:56 11 minutes, 56 seconds make sense for purpose the land appreciation and the property appreciation in these places are really decent 12:03 12 minutes, 3 seconds So, so if I add the rental and the appreciation, I'm better off than keeping the money. 12:09 12 minutes, 9 seconds Got it. Got it. And there also an intangible asset addition of around 13 odd crores. Could you help me what is that? 12:17 12 minutes, 17 seconds No, that they are not intangible asset that money going into the repair and maintenances of IT, upgradation of IT, 12:25 12 minutes, 25 seconds uh, upgradation of few existing furniture of the existing offices and all. Right. Right. Right. 12:33 12 minutes, 33 seconds uh also in terms of digital uh so I think across the industry last around 12:39 12 minutes, 39 seconds May 2025 around we had almost 22 million MAUs uh it has slightly reduced what can 12:47 12 minutes, 47 seconds be the particle is it a monthly phenomena or should I read into it have we increased our rates what what would 12:55 12 minutes, 55 seconds be the key reason for this if you look at the if you look at the overall number there's been a constant growth now in one particular month the 13:02 13 minutes, 2 seconds number goes up because of any local event you know but otherwise we are on a steady pace of a growth. 13:09 13 minutes, 9 seconds Okay. Okay. Nothing to see or read into it right. No. Uh uh what are the plans with the cash? 13:16 13 minutes, 16 seconds Are we planning any buyback or something on those lines because uh yeah certainly we'll be looking at uh 13:23 13 minutes, 23 seconds thinking that what is the best tax efficient manner to uh do with the cash. 13:30 13 minutes, 30 seconds Thank you Kik so much. I'll get back in you for further questions. Thank you. Appreciate it. 13:37 13 minutes, 37 seconds Thank you. The next question is from the line of Bhavy Chan from Care PMS. Please go ahead. Uh hello. 13:45 13 minutes, 45 seconds Thanks for the opportunity. 13:47 13 minutes, 47 seconds So my first question is last year the company has pay out of 60%. Whereas this year there is not such a dividend 13:56 13 minutes, 56 seconds declare right now. So is there any change in our dividend policy? 14:00 14 minutes There is no change in the policy. I think board is evaluating more tax efficient manner to uh use the cash. 14:10 14 minutes, 10 seconds Uh okay. And my second question is there have been uh news on the platform such as Google and other mclass. So we are 14:19 14 minutes, 19 seconds not getting any revenue from them right now. So is there any update of getting that revenues? 14:26 14 minutes, 26 seconds the um all the platforms put together have gone to the competition commission of India filing a case against Google 14:33 14 minutes, 33 seconds and others. So we are still awaiting nothing has happened so far from there. Okay. Uh so I'm done with my question. Thank you. 14:42 14 minutes, 42 seconds Thank you. 14:46 14 minutes, 46 seconds Thank you. The next question is from the line of Sanushi and individual investor. Please go ahead. 14:52 14 minutes, 52 seconds Uh good evening sir. My name is Sanushi and I'm an individual investor interested in investing DB and I have a few questions I would like to ask. 15:01 15 minutes, 1 second Please go ahead. 15:01 15 minutes, 1 second Can you share the sectoral growth rates and their contribution for the Q4? 15:08 15 minutes, 8 seconds Okay, one second. Q4. 15:15 15 minutes, 15 seconds So see in Q4 U most of the categories like education has grown big time but most of the categories have shown a 15:23 15 minutes, 23 seconds decent growth in the Q1 barring out uh uh government is not that high and also 15:30 15 minutes, 30 seconds real estate there has been a slight dip on the on the Q4. Uh yeah that is Q4 not dip flat actually but most of the other 15:39 15 minutes, 39 seconds categories have seen a decent number single digit some of them double digit. 15:43 15 minutes, 43 seconds Yeah, if possible, could you please provide the numbers? 15:48 15 minutes, 48 seconds We don't give the exact number uh sector wise and all that because of the competitive reason. I hope you will appreciate that. 15:55 15 minutes, 55 seconds Okay. And the contribution uh for quarter 4. 15:59 15 minutes, 59 seconds In terms of contribution, uh, education remains in the mid double digits, real estate in a double digit, automobile in 16:08 16 minutes, 8 seconds a in a strong single digit, government in a in a decent double digit, uh, jewelry in a in a single digit. Yep. 16:20 16 minutes, 20 seconds Okay. And uh, the next question is, what was the ad yield growth percentage in quarter 4? 16:28 16 minutes, 28 seconds There is no major yield growth in quarter 4. The yield has largely remained the same largely the the growth has come from the volumes. 16:38 16 minutes, 38 seconds Okay. 16:39 16 minutes, 39 seconds But some some minor percentage growth in yield but nothing worthwhile. 16:44 16 minutes, 44 seconds Okay. Can you also provide the circulation copies reported in the quarter four? 16:50 16 minutes, 50 seconds Quarter four copies are uh uh almost 39 lakhs. 16:57 16 minutes, 57 seconds Okay, thank you. And uh what was the new sprint mix between the domestic and the imported in quarter 4? 17:06 17 minutes, 6 seconds Uh in quarter 4 the mix has been 80/20 80% Indian 20% imported. 17:12 17 minutes, 12 seconds Okay. And also the last question uh how do you see the new sprint rate outlook evolving in the near term? 17:20 17 minutes, 20 seconds So our last year overall rate was at almost 48,000 rupees per ton the average mix of Indian and imported. In quarter 4 17:29 17 minutes, 29 seconds this number has become 49,000 and going forward we believe this number will further go up uh maybe by 6 to 8% 17:38 17 minutes, 38 seconds uh going forward in the quarter 1 itself. Okay. Thank you so much. Thank you. 17:47 17 minutes, 47 seconds Thank you ladies and gentlemen to ask a question please press star and one 17:56 17 minutes, 56 seconds the next question is from the line of yash from JB associated please go ahead 18:02 18 minutes, 2 seconds yeah hi good evening good evening uh our definition numbers for Q4 thank you sir 18:10 18 minutes, 10 seconds uh now my first question is with regards to the ad revenue uh now you mentioned that excluding the election impact we've 18:18 18 minutes, 18 seconds grown by around the 6 o% 6.3% to be precise as far as print is concerned printing revenue is concerned right 18:25 18 minutes, 25 seconds correct uh but overall on a yearly basis I think we are more or less flat yes I was just trying to gauge the 18:32 18 minutes, 32 seconds impact what is it around 80 odd crores because uh I mean we have around 1,500 crores of revenue that we reporting and 18:40 18 minutes, 40 seconds out of that if we take out around 5% that's around 80 80 o correct you You just got the right number. 18:49 18 minutes, 49 seconds Okay. And uh what is the government share? Because I mean last time we had reporting it was around at 24% if I'm not mistaken. 18:57 18 minutes, 57 seconds Oh. 18:59 18 minutes, 59 seconds Yes. Yes. So the entire money see what happened the entire money uh during the is not the election money. There's a 19:06 19 minutes, 6 seconds regular advertising of the government and there's a central government advertising money which came election money came that way. So totally I mean 19:14 19 minutes, 14 seconds it remains same at around 17 18% or has it changed in the out number one percentage here and there. 19:22 19 minutes, 22 seconds Okay. And uh you mentioned that a few sectors you know in the during the beginning of the call that they have grown by like double digit. Let's say 19:31 19 minutes, 31 seconds for example real estate uh healthcare employee those are for the full year right? Yes, for the full year if I tell 19:38 19 minutes, 38 seconds you the number like jewelry has grown by strong double digit, real estate has grown by single double, middle double 19:45 19 minutes, 45 seconds digit, um, education has grown by single digit, automobile has grown by single digit. 19:52 19 minutes, 52 seconds Okay. Okay. Okay. And uh I can see that the copies I mean we we were just informed uh that the copies have gone 20:00 20 minutes down right. I mean it was 40 odd lakhs in the previous quarters and now you have you're at 39 lakhs. So almost a lakh 20:10 20 minutes, 10 seconds copy. Uh what's what's happening? Because we've been spending on uh getting these copies of I mean I I think it's been for the 20:18 20 minutes, 18 seconds past five or six quarters if I'm not mistaken. So what has gone wrong? I mean what is happening in the market? 20:25 20 minutes, 25 seconds I think what is happening in most of the places uh we believe that with all our efforts we are able to maintain this 20:32 20 minutes, 32 seconds number. You know we are able to maintain the engagement of the readers. 20:36 20 minutes, 36 seconds uh because if you notice couple of uh quarters back uh a concern was raised by couple of people that that in if you 20:44 20 minutes, 44 seconds look at other markets people are seeing the newspaper declining. So I think with all our efforts at least we are able to maintain and I think I would call it a a 20:52 20 minutes, 52 seconds decent achievement actually to maintain the circulation numbers but I mean it has gone down by around a lakh right that's around two to one lakh%. Yeah. 2%. Yes. 21:04 21 minutes, 4 seconds Okay. And uh what about I mean competitors any update on that? I mean how much has the industry? 21:11 21 minutes, 11 seconds Yeah. We can only share that in most of our markets uh we are gaining the market share. 21:18 21 minutes, 18 seconds Okay. But the overall market is declining is what seems to be the case. 21:22 21 minutes, 22 seconds Yeah. Looks like that couple of the markets the competitor are not able to really hold the copies. So we are able to gain the market share there. So we are still losing like a couple of as I 21:31 21 minutes, 31 seconds me as you can see the numbers 2 one and a half 2%. But u are losing more. 21:38 21 minutes, 38 seconds Okay. And prices like you just mentioned you see an uptake of around 6 to8% in the coming quarter right because of the close geographical tensions that are going around. Correct. 21:49 21 minutes, 49 seconds Okay. Okay. All right. Nothing further from my end at this point. Thank you so much. Thank you. Thank you. 21:56 21 minutes, 56 seconds The next question is from the line of Himman Shupad from Statford. Please go ahead. 22:02 22 minutes, 2 seconds Yeah. Hi. Uh good evening. Uh congrats on good setup numbers. My question again was on uh circulation only. 22:11 22 minutes, 11 seconds I think four five quarters back we had announced that uh we are working and are having new schemes to increase the 22:20 22 minutes, 20 seconds circulation copies. Okay. And uh so what is the progress and how are you thinking about that that even after 22:29 22 minutes, 29 seconds investing and having schemes and uh putting more efforts uh circulation is not increasing it is 22:37 22 minutes, 37 seconds just reducing. So what what is your thought process and how are you planning ahead from here? 22:45 22 minutes, 45 seconds So two things very clearly in this the all the markets are not behaving the same. Some of the market we are able to 22:52 22 minutes, 52 seconds maintain some of the market we are showing a small growth also while in some of the market the numbers are shrinking you know uh but overall as you see the impact is 1 and a half 2%. 23:04 23 minutes, 4 seconds Now it clearly indicates that with all the efforts on the editorial as well as circulation we are largely able to 23:11 23 minutes, 11 seconds maintain the numbers you know so so I think we'll have to do much more many more efforts to see that how can we 23:18 23 minutes, 18 seconds further excite people open up new markets uh by by going more deeper in the distribution further more uh we have 23:27 23 minutes, 27 seconds been noticing certain problems in the market for example the vendor the delivery boys those who used to delivered those who deliver the paper in 23:35 23 minutes, 35 seconds the morning morning there has been shortage of those boys also because uh our newspaper start distributing at 4:00 23:42 23 minutes, 42 seconds in the morning until 600 6:30 now what he's earning by doing this two hours job he is slightly getting better compensated by doing any of the other 23:51 23 minutes, 51 seconds delivery during the day so there has been a task challenge what our agents are finding to get the delivery boys we 23:58 23 minutes, 58 seconds are working with them to resolve that also so there are various challenges on the down and uh I guess we'll have to 24:05 24 minutes, 5 seconds keep making an efforts so that you know we we maintain or grow uh whatever we can or lose the least. 24:19 24 minutes, 19 seconds Uh are we going to run the similar schemes this year also or is there any 24:26 24 minutes, 26 seconds we we are doing multiple things. uh it's not about the scheme alone you know it's about creating every every possible 24:33 24 minutes, 33 seconds avenue for an efforts to for reader to make sure that he continues reading paper or even more readers comes and 24:40 24 minutes, 40 seconds read the paper whether it's a brand uh awareness whether it's the distribution network enhancement 24:48 24 minutes, 48 seconds uh editorial quality everything and one finally on radio 24:57 24 minutes, 57 seconds as a radio is a medium what is your thought process and because we took some new radio stations also in this 25:04 25 minutes, 4 seconds financial year uh how are you thinking about investing and uh 25:11 25 minutes, 11 seconds future of the business over a longer period of time let's say 5 years 10 years but I'm happy to share with you uh this 25:20 25 minutes, 20 seconds radio is all about maintaining it with a very very low cost and uh because you know the revenue upside is not double 25:28 25 minutes, 28 seconds digit every year because of the inventory but we've been able to control cost to a very very large extent and uh even in the stations that we have picked 25:36 25 minutes, 36 seconds up I shared on the uh in the opening uh earlier today that the seven stations that we launched were a bit of positive 25:44 25 minutes, 44 seconds in the first three months itself uh with a very very high margin uh because of the cost and the fact that we picked up 25:50 25 minutes, 50 seconds these stations uh in places where we are the only in these seven cities we are the only radio station actually in the 25:58 25 minutes, 58 seconds balance seven cities we'll be sharing it with one more person. So you know so it's a very it's a good market to play and these are small station it will add 26:06 26 minutes, 6 seconds some some uh value to our top line and going forward we believe uh uh as a 26:13 26 minutes, 13 seconds medium uh it is still heard by people whenever we check on cars on traffic signals we find people people listening 26:21 26 minutes, 21 seconds to radio and that's the effort that we have to keep making on making sure that the medium still has relevance uh across our audiences. 26:33 26 minutes, 33 seconds Okay, thanks so much. Thank you. 26:37 26 minutes, 37 seconds Thank you participants. You may press star and one to ask a question. The next question is from the line of Ria Meta from Equitas. Please go ahead. 26:49 26 minutes, 49 seconds Thank you for giving us the followup opportunity. also just wanted to understand that uh what would be the difference in pricing in domestic and 26:57 26 minutes, 57 seconds international papers and what will be the month group there. 27:04 27 minutes, 4 seconds So just to give you the number of last year uh Indian newsprint was at around 27:11 27 minutes, 11 seconds 45,000 rupees a ton and the imported was at around 54,000 rupees a ton. 27:20 27 minutes, 20 seconds Now both these prices have changed. Now what happened in the prices uh imported uh new sprint whenever they increase the 27:29 27 minutes, 29 seconds price because imported also got impacted the dollar value also. Okay. 27:32 27 minutes, 32 seconds In the beginning of the year dollar was at rate and today only lost around 8 8% in that. So that also played a role. Now 27:41 27 minutes, 41 seconds Indian new sprint manufacturers follow the parity pricing for the imported. So whatever is your imported landing parity 27:48 27 minutes, 48 seconds price they try to adjust their their price accordingly and since imported as gusta because of the freight and all that they have also taken up. 27:59 27 minutes, 59 seconds What will be the current rate for domestic and importer the Q4 rate as I mentioned to you has 28:06 28 minutes, 6 seconds the average has gone up to 49,000 already. 28:10 28 minutes, 10 seconds Okay. Average is 49,000. Okay. and uh specifically domestic how much that would be 28:18 28 minutes, 18 seconds I don't have exact breakup here right now but you can adjust it the 47 was the average with that which has gone up by 28:24 28 minutes, 24 seconds 49 so both of them have increased okay fair uh and we expect this to further 28:33 28 minutes, 33 seconds increase going forward right in the Q1 we believe this should this may go this actually not may this has already gone up by 78% because we have 28:41 28 minutes, 41 seconds the forward orders with Got it. And we would have two to three months of inventory with us for 28:49 28 minutes, 49 seconds utilize whatever best we could do in the month of uh March and February and some of it in from the month of April also. 28:57 28 minutes, 57 seconds Got it. Got it. And in terms of uh the digital business, I think we're doing a lot of efforts there. Could you 29:05 29 minutes, 5 seconds elaborate more on what is going there currently and uh when do we see that business uh maturing enough to start giving numbers? 29:16 29 minutes, 16 seconds So as you have seen the number we have got almost 20 million uh mauus now and we opened up new market which is Uttar 29:24 29 minutes, 24 seconds Pradesh which is giving us good results and we are very optimistic about Uttar Pradesh because 29:31 29 minutes, 31 seconds population market in the state 23 cr population. 29:36 29 minutes, 36 seconds So uh we expect this 20 million should you know substantially as of 29:44 29 minutes, 44 seconds and there are multiple efforts made in terms of product quality, editorial content and the videos so that the user 29:51 29 minutes, 51 seconds experience really uh enhanced and gives the delight to the reader so that in 29:58 29 minutes, 58 seconds future whenever we want to monetize it we are able to do that. Got it. 30:06 30 minutes, 6 seconds Thank you. Thank you so much. Appreciate. 30:10 30 minutes, 10 seconds Thank you. The next question is from the line of Yash from JB Associated. Please go ahead. 30:16 30 minutes, 16 seconds Yeah. Hi. Uh so there seems to be small uptake in the other operating income but cannot go uh going by my calculation. 30:25 30 minutes, 25 seconds Can you please help understand what is this difference? 30:29 30 minutes, 29 seconds The other operative income is largely on job work as well as the wastage sale. 30:34 30 minutes, 34 seconds the new sprint wastage sale because since the new sprint prices have gone up there is some up there also. 30:41 30 minutes, 41 seconds Okay. Okay. All right. Thank you. 30:47 30 minutes, 47 seconds Thank you. Participants to ask a question please press star and one. 30:54 30 minutes, 54 seconds The next question is from the line of Mohit seni and individual investor. Please. 31:00 31 minutes Good evening sir. Thank you for the opportunity and congratulations for a good set of numbers. 31:05 31 minutes, 5 seconds So my first question is regarding one of your talent acquisitions Mr. Push Takur. 31:10 31 minutes, 10 seconds Sir can you share some of his insights on what Mr. Takur thinks from his decade experience he what we can do differently 31:20 31 minutes, 20 seconds to scale this digital business profitably. 31:24 31 minutes, 24 seconds Okay. So Mr. Kush Takur has joined us uh from a good organization where the the 31:31 31 minutes, 31 seconds CPM and all were very healthy and he has just joined. So he has made first presentation to the board uh this 31:39 31 minutes, 39 seconds Saturday itself and uh we are going to roll out the whole thing from this month. So he'll take at least I would 31:46 31 minutes, 46 seconds say couple of months to start showing the results and but we're very optimistic on that. 31:53 31 minutes, 53 seconds Okay. And do we have the technical team ready if say we start advertising or we will be first recruiting more in the 32:00 32 minutes future? Just understanding from a bottom bottom line perspective. 32:04 32 minutes, 4 seconds No, our technical team is all ready. No, not nothing. We just need to go and sell more creatively to our advertisers and run their ads. 32:13 32 minutes, 13 seconds Okay. And has the war situation given us more traction on the app side? And how do you see the scenario given our 32:20 32 minutes, 20 seconds advertisers are concerned? As our PM also recently said the restrain buying jewelry and discretionary spending any light on the same 32:30 32 minutes, 30 seconds no it's a okay so two things first of all has the war given us some major traction on the on the app users 32:39 32 minutes, 39 seconds slightly because people are in India unfortunately more concerned with the things next door rather than the global 32:45 32 minutes, 45 seconds things uh so that is one second thing the concerns raised by the prime minister yesterday. I think the whole nation is grappling with those concerns. 32:57 32 minutes, 57 seconds So let's see how it how it pans out, you know. So really nobody's clear how it will unfold. 33:04 33 minutes, 4 seconds And do we have any plans of acquisition of other media houses as they are struggling to keep up the business? 33:11 33 minutes, 11 seconds No sir, we have no no any such plan to acquire any other media business. 33:17 33 minutes, 17 seconds All right, that's it from my side. All the best. Thank you very much sir. 33:22 33 minutes, 22 seconds Thank you ladies and gentlemen. That was the last question for today. I would now like to hand the conference over to management for closing comments. 33:32 33 minutes, 32 seconds Thank you everyone for your participation today and time on this earnings call. I hope we've responded to your queries and we also be happy to be 33:42 33 minutes, 42 seconds of assistance to our investor relation department headed by Mr. Prasoon Kumar Pande for all your further queries. 33:48 33 minutes, 48 seconds Thank you and have a great evening. Thank you. Thank you on behalf of DB Gulp Limited. 33:57 33 minutes, 57 seconds That concludes this conference. Thank you for joining us.