Fundamental Result Update

Shemaroo Entertainment Ltd



The company showed growth in performance for the quarter with revenue increasing at 7.6% YoY and 8.3% sequentially on standalone front. On consolidated front the revenue grew by 9% YoY.

Revenue from digital media continued the upward curve with 42% growth rate when compared to corresponding quarter of previous year. Share of new media to revenue grew to 42% vs 50% in corresponding quarter of previous year and 40% sequentially.

Valuation: The company has positive outlook towards growth in media sector and plans to expand in digital media business. At CMP of Rs 369 company trades at a P/E multiple of 11.5 (x) its FY 19 estimates. We have valued the stock at its FY19E forward P/E of 12 (x) and arrived at a fair value of Rs 385 per share. We have “NEUTRAL” rating on the company.


Tags: FundamentalResult Update


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