ADVERTISEMENT

ENIL Q4 Review - Digital Initiatives At Forefront: Prabhudas Lilladher

ENIL Q4 Review - Digital Initiatives At Forefront: Prabhudas Lilladher

<div class="paragraphs"><p>A recording microphone at a studio. (Photo: Elijah Merrell/ Source: Unsplash)</p></div>
A recording microphone at a studio. (Photo: Elijah Merrell/ Source: Unsplash)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

A recording microphone at a studio. We cut our FY23E/FY24E Ebitda estimates of Entertainment Network India Ltd. by 21%/9% respectively due to general weakness in ad-environment and slower yield recovery.

Going ahead, revival in radio business will be led by volumes which have shown signs of improvement (capacity utilisation in legacy/batch-one/batch-two stations stood at 74.7%/31.4%/26.5% respectively in FY22).

In order to diversify out of radio business (low growth market), ENIL is taking steps to increase exposure to core solutions and digital business which is expected to form ~50% of the topline in FY25E.

On digital front, Mirchi app has already been unveiled in international markets and India launch is expected by May end. While Mirchi’s diversification efforts are commendable we await green shoots on delivery front.

Click on the attachment to read the full report:

Prabhudas Lilladher ENIL Q4FY22 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.