INSUBCONTINENT EXCLUSIVE:
CLSA has retained buy rating on Zee Entertainment Enterprises in the long term and revised target price to Rs 360 from Rs 390
Shares of Zee Entertainment ended up 2.3% at Rs 267.70 on Tuesday while BSE Sensex closed 192.84 points (0.47%) up at 40,869.47
Company FinancialsFor the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 2122.01 crore, up 5.67% from last
quarter sales of Rs 2008.12 crore and up 7.40% from last year same quarter sales of Rs 1975.86 crore
The company has reported net profit after tax of Rs 413.29 crore in the latest quarter
The company’s top management includes Dr.Subhash Chandra, Mr.Adesh Kumar Gupta, Mr.Ashok Kurien, Mr.Manish Chokhani, Mr.Punit Goenka,
Mr.R Gopalan, Mr.Surendra Singh, Mrs.Aparajita Jain
Company has Deloitte Haskins - Sells LLP as its auditors
As on 30-09-2019, the company has a total of 960,481,765 shares outstanding
Investment RationaleThe sector also saw chaotic implementation of Trai’s new pay-TV regime, said CLSA
Zee is well placed to continue outperforming industry growth and 2020’s key focus will be on cash generation, the brokerage said
CLSA estimates 11% compounded growth in earnings over FY19-FY22.