Fundamental Result Update

Shemaroo Entertainment Ltd



The company has shown growth in performance for the quarter with revenue increasing at 12.7% YoY and 23.8% sequentially on standalone front. On consolidated front the revenue grew by 18% 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 25% vs 21% in corresponding quarter of previous year.

Valuation: The company has positive outlook towards growth in media sector and plans to expand in digital media business. At CMP of Rs 403 company trades at a P/E multiple of 12.6(x) its FY 19 estimates. We have valued the stock at its FY19E forward P/E of 13(x) and arrived at a fair value of Rs 417 per share. We have “NEUTRAL” rating on the company.

 


Tags: FundamentalResult Update


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