HT Media Ltd — Interim / Quarterly Report 2021

Jun 18, 2021

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HT MEDIA LIMITED

Regd Office Hi�dustan T,n,es House 18-20 Kasturba Gandt- ,,. .. 9 New Oelh • 110001 Tel.· 5555• 234 Fax: 6656:270 iw w n·:idustantlr:-es.eo� E•ma· corporatedept@hindustantir.:es com C'.N L22.21Dl2002PlC1.7874

18[th] June,2021

BSE Limited

Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI - 400 001

The National Stock Exchange of India Limited

Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) MUMBAI - 400 051

Scrip Code: 532662

Trading Symbol: HTMEDIA

Dear Sirs,

Sub: Presentation on the Audited Financial Results of the Company fr the quarter and financial year ended on 31[st ] March, 2021

Please find enclosed a presentation on the Audited Financial Results of HT Media Limited for the quarter and financial year ended on 31[st ] March, 2021.

This is for your information and records.

Thanking you,

Yours faithfully,

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Digitally signed by DINESH MITTAL DN: c=IN, st=Delhi, 2.5.4.20=f0a517aae31821f7d1c6c4bae72f DINESH 3bff850f57048ce049c2a76579ceb11a166f, postalCode=110092, street=228 3rd floor jagriti enclave, serialNumber=3b8ea030aca58b5c895290f f3776eeba38495f2277e5ca28bf49cc98813 d4ad3, o=Personal, cn=DINESH MITTAL, MITTAL pseudonym=c7c0b39597c7bce51ebd37952444a69b Date: 2021.06.18 14:40:53 +05'30'

Encl: As above

HT MEDIA GROUP Q4 FY 2020-21 Consolidated Financial Results

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Cautionary Statements

Certain statements in this presentation may be forward-looking statements.

Such forward looking statements are subject to risks and uncertainties like regulatory changes, local political and economic developments, technological risks and many other factors that could cause our actual results to differ materially from those contained in the relevant forwardlooking statements.

HT Media Group will not, in any way, be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

This is a quarterly webcast presentation, combining information for the public listed companies “HT Media Limited” and its subsidiary “Hindustan Media Ventures Limited”. Key objective of this presentation is to facilitate a unified platform for quarterly performance discussion pertaining to both the companies. It is neither intended to be an exhaustive review nor to provide any trading, financial, legal advice or outlook.

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Chairperson’s Message

“Advertising revenue in our Print & Radio businesses and circulation revenue continue to improve. The Shine business has recorded healthy topline growth during the quarter. For the full year, despite the challenges posed by the pandemic, we posted a positive EBITDA driven by better revenue performance in the second half of the year and cost efficiencies.

As the financial year was coming to a close, the Indian economy was positioned favorably, and seemed to be at the cusp of a strong recovery. Since then, though, the situation has altered substantially with a sharp rise in COVID infections and mortalities. While I expect the impact of the second wave to affect our business performance in the first quarter of FY’22, my hope is that the recent drop in infections, the end of lockdowns, and increased momentum in the vaccination program will gradually induce an economic recovery. We remain focused in our efforts to provide credible and engaging news, information and entertainment products to our audience despite the tough environment.”

Mrs. Shobhana Bhartia

Chairperson and Editorial Director HT Media Ltd & Hindustan Media Ventures Ltd

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Table of Contents

PARTICULARS	SLIDE NO.
Consolidated Performance	5
Business Unit Performance	7
Print	8
Print – English	10
Print – Hindi (HMVL)	12
Radio	14
Annexures	18

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4

CONSOLIDATED PERFORMANCE

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5

Consolidated Financial Summary

CONSOLIDATED PERFORMANCE

Q4'20	Q4'21	YoY	Q3'21	QoQ	Particulars (Rs Cr)	FY'20	FY'21	YoY
525	398	-24%	392	2%	Total Revenue	2,310	1,331	-42%
102	70	-31%	59	20%	EBITDA1	370	90	-76%
19%	18%		15%		EBITDA margin (%)	16%	7%
(189)	19	110%	9	102%	PAT2	(345)	(65)	81%
-36%	5%		2%		PAT margin (%)	-15%	-5%
1,006	1,121	11%	1,043	7%	Net Cash3	1,006	1,121	11%

KEY HIGHLIGHTS

• Consolidated Revenue for FY’21 at Rs 1,331 Cr, down by 42% over LY

• QoQ revenue improvement during the year

• Q4 EBITDA at Rs 70 Cr with the EBITDA margin @18%. Full Year EBITDA Positive at Rs 90 Cr despite subdued market conditions due to Covid-19 in the FY’21 driven by cost rationalisation actions

• Consolidated PAT loss at Rs 65 Cr in FY’21 vs Rs 345 Cr loss last year. Q4’21 at Rs 19 Cr profits (second consecutive quarter of profits)

• Liquidity improved 11% YoY despite a challenging environment

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6

3 Balance at the end of the period

2 PAT is after share of profit/(loss) from Associate/JV

1 EBITDA before exceptional items

BUSINESS UNIT PERFORMANCE

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7

PRINT

PRINT – ENGLISH

PRINT – HINDI

RADIO

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8

Print

FINANCIAL PERFORMANCE

Q4'20	Q4'21	YoY	Q3'21	QoQ	Particulars (Rs Cr)	FY'20 FY'21	FY'20 FY'21	YoY
298	233	-22%	236	-1%	Ad Revenue	1,380 717		-48%
64	48	-24%	47	4%	Circulation Revenue1	267 180		-33%
403	297	-26%	289	3%	Operating Revenue	1,790 956		-47%
66	41	-39%	18	127%	Operating EBITDA	251	-6	-102%
16%	14%		6%		Op EBITDA margin (%)	14% -1%

KEY DRIVERS

• • Better Ad revenue scenario in the quarter with decline at only -22%; YoY change in Q1’21 (-77%), Q2’21 (-52%), Q3’21 (-38%)
• • Maintained tight control on paper consumption, pricing and direct costs to protect gross margins; optimized all other spends as well
• • EBITDA positive in Q4’21 with the margin of 14%

• Decline in circulation revenue during the year. However, sequential improvement across all quarters

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9

1Circulation revenue (gross)

PRINT

PRINT – ENGLISH

PRINT – HINDI

RADIO

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10

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Print – English

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AD REVENUE (RS CR) CIRCULATION REVENUE [1] (RS CR)
YoY QoQ YoY QoQ
-31% -1% -62% +27%
172 5
119 118
4
118 14
5
Q4'20 Q4'21 Q3'21 Q4'21 Q4'20 Q4'21 Q3'21 Q4'21
FY'20 FY'21 YoY FY'20 FY'21 YoY
Ad Revenue (Rs Cr) 799 349 -56% Circulation Revenue (Rs Cr) 63 15 -76%
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REVENUE DRIVERS

• • Ad revenue for Q4’21 near to Q3’21 levels despite festive in the base
• • Select categories such as E-Commerce, Luxury/Jewellery, Health & Fitness had YoY growth during the quarter
• • Sequential circulation growth continued

• Subdued advertising revenue from categories like Auto, Retail, BFSI and FMCG for the quarter

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11

1Circulation revenue (gross)

PRINT

PRINT – ENGLISH

PRINT – HINDI

RADIO

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12

Print – Hindi

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AD REVENUE (RS CR) CIRCULATION REVENUE [1] (RS CR)
YoY QoQ YoY QoQ
-8% -1% -14% +1%
117 116
126 42 43
116 50
43
Q4'20 Q4'21 Q3'21 Q4'21 Q4'20 Q4'21 Q3'21 Q4'21
FY'20 FY'21 YoY FY'20 FY'21 YoY
Ad Revenue (Rs Cr) 582 368 -37% Circulation Revenue (Rs Cr) 204 165 -19%
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REVENUE DRIVERS

• • Improvement in Ad volumes across both national & local advertisers in the quarter
• • Improved Ad volume market share across our operating geographies during the year
• • Advertising revival in key categories like FMCG, Real Estate and Durables during the quarter

• Categories such as Auto, Education and Retail were muted

• Continued pressure on Ad yields

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13

1Circulation revenue (gross)

PRINT

PRINT – ENGLISH

PRINT – HINDI

RADIO

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14

Radio

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FINANCIAL PERFORMANCE

Q4'20	Q4'21	YoY	Q3'21	QoQ Particulars (Rs Cr)	QoQ Particulars (Rs Cr)	FY'20	FY'21	YoY
40	24	-41%	27	-13%	Operating Revenue	202	74	-63%
-10	-4	54%	-16	71%	Operating EBITDA	14	-61	-547%
-24%	-19%		-57%	Op EBITDA Margin (%)		7%	-82%

PERFORMANCE DRIVERS

• Softness in operating revenue and profit as customer segments of Radio were more adversely impacted by the pandemic

• • Decline in revenue offset by strong cost actions on non-statutory costs. Q4’21 EBITDA improvement by 11Cr Vs Q3’21.

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15

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Q&A

1. To ask a question, Click on “Raise Hand”

2. On your turn, click on “Unmute Myself”

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1. Ask your question

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HT Media Group

Hindustan Times House, 2nd Floor, 18-20, Kasturba Gandhi Marg New Delhi – 110001, India

Anna Abraham Amit Madaan Sankalp Raghuvanshi IR@hindustantimes.com

Saket Somani Ravi Gothwal htmedia@churchgatepartners.com

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17

ANNEXURES

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Consolidated P&L – HT Media Limited

Q4'20 Q4'21 YoY(%) Q3'21 Seq (%)	Particulars(Rs Cr)	FY'20 FY'21 YoY(%)
465 349 -25% 341 2% 60 49 -18% 51 -3% 525 398 -24% 392 2%	Operating Revenue Other Income Total Revenue	2,083 1,117 -46% 227 214 -6% 2,310 1,331 -42%
120 81 -33% 74 10% 84 69 -19% 88 -22% 219 179 -19% 171 4%	Raw Materials & change in inventory Employee Cost Other expenses	564 261 -54% 412 329 -20% 963 651 -32%
102 70 -31% 59 20%	EBITDA	370 90 -76%
19% 18% 15%	Margin (%)	16% 7%
-189 19 110% 9 102%	PAT 1	-345 -65 81%
-36% 5% 2%	Margin (%)	-15% -5%

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1PAT is after share of profit/(loss) from Associate/JV

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Consolidated Balance Sheet – HT Media Limited

**As at 31 Mar'20 **	Particulars (Rs Cr)	As at 31 Mar'21
1,369 461 1,188	ASSETS Non- current assets Financial assets Property, plant and equipment Others	1,666 395 1,151
3,019	Total non-current assets	3,212
141 1,074 111	Current assets Inventories Financial assets Other current assets	142 855 119
1,327	Total current assets	1,117
4,346	Total assets	4,329
46 2,109 400	EQUITY AND LIABILITIES Equity Equity share capital Other equity Non-controlling Interest	46 2,043 407
2,555	Total equity	2,496
285 16 21	Liabilities Non-current liabilities Financial liabilities Deferred tax liabilities (Net) Others	176 13 18
323	Total non-current liabilities	207
1,315 152	Current liabilities Financial liabilities Others	1,428 198
1,467	Total current liabilities	1,627
4,346	Total equity and liabilities	4,329

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Consolidated P&L – Hindustan Media Ventures Ltd

Q4'20 Q4'21 YoY(%) Q3'21 Seq (%)	Particulars(Rs Cr)	FY'20 FY'21 YoY(%)
177 162 -8% 163 -1% 31 13 -58% 31 -58% 208 175 -16% 194 -10%	Operating Revenue Other Income Total Revenue	796 545 -31% 109 118 8% 905 663 -27%
59 52 -12% 48 8% 35 26 -25% 36 -28% 68 58 -15% 60 -3%	Raw Materials & change in inventory Employee Cost Other expenses	282 174 -38% 126 131 4% 289 234 -19%
46 39 -16% 49 -21%	EBITDA	208 124 -40%
22% 22% 25%	Margin (%)	23% 19%
26 21 -19% 34 -38%	PAT 1	116 69 -40%
12% 12% 18%	Margin (%)	13% 10%

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1PAT is after share of profit/(loss) from Associate/JV

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Consolidated Balance Sheet – Hindustan Media Ventures Ltd

**As at 31 Mar'20 **	Particulars (Rs Cr)	As at 31 Mar'21
956 160 196	ASSETS Non- current assets Financial assets Property, plant and equipment Others	1,165 134 240
1,312	Total non-current assets	1,539
47 529 35	Current assets Inventories Financial assets Other current assets	54 474 41
610	Total current assets	569
1,921	Total assets	2,108
74 1,440	EQUITY AND LIABILITIES Equity Equity share capital Other equity	74 1,511
**1,514 **	Total equity	1,585
62 18 0	Liabilities Non-current liabilities Financial liabilities Deferred tax liabilities (Net) Others	31 15 0
**80 **	Total non-current liabilities	47
290 37	Current liabilities Financial liabilities Others	434 42
327	Total current liabilities	476
1,921	Total equity and liabilities	2,108

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