D. B. Corp Ltd

Overview

• Standalone BRSR for FY2025-26; main activity printing/publishing newspapers.
• 31% of turnover from printing/publishing; newspaper publishing 20.17%, advertising 71.84%.
• 131 locations nationwide (51 plants, 80 offices) across 14 states; exports 2.55% of turnover.
• CSR turnover 23,550.21 million; net worth 24,307.26 million; reporting boundary standalone.

Key ESG Risks & Opportunities

• Opportunities: digital platform expands reach and revenue.
• Solar energy reduces costs and environmental footprint.
• Supply chain resilience via risk management and business continuity planning.
• Risks: ethical practices exposure; mitigated by Code of Conduct and awareness.
• Newsprint price volatility; mitigated by mixed sourcing, vendor diversification, page rationalization, hedging.
• Financial implications: opportunities positive; newsprint volatility negative.

Governance & Policy Highlights

• Risk Management Committee oversees sustainability decisions.
• Policies approved by Board; whistle-blower and Code of Conduct in place.
• Policies cover NGRBC principles; disclosures on website/intranet; no external assurance.
• Penalties or fines: Nil in FY2025-26.
• 100% training coverage on principles for Board, KMP, employees, and workers.

Social Responsibility & Workforce

• Total employees 2,866; permanent 2,393; male 2,193; female 200.
• Total workers 1,910; permanent workers 1,585; female workers 40.
• LTIFR: 0 for employees and workers; injuries 6 employees, 4 workers; fatalities 0.
• 100% training coverage; equal opportunity policy; accessible premises for differently abled.
• CSR focus areas: poverty eradication, Mission Shiksha, No Plastic, Blood donation, environment conservation.
• CSR aspirational districts: Bihar Muzaffarpur 2,14,956; Jharkhand Ranchi 4,56,283; MP Khandwa 2,10,025.

Environmental Performance

• Solar capacity 3,545 kW; solar generation 3,725,811 kWh.
• Total energy: 104,613 GJ; non-renewables 91,200 GJ; renewables 13,413 GJ.
• Scope 1: 885 tCO2e; Scope 2: 18,543 tCO2e.
• Energy intensity 0.82 tCO2e per ₹1m turnover; PPP 16.58; per copy 13.88.
• Waste total 28.65 MT; plastic 24.22 MT; E-waste 4.43 MT.
• Water withdrawal 35,244 kl; groundwater 35,244; intensity 0.0000015.

Stakeholder Engagement & Complaints

• Stakeholders identified: Investors, Government, Employees, Consumers, Industry Bodies, Communities.
• Engagement channels include quarterly results, annual report, investor meetings, regulatory filings.
• Shareholders: 98 complaints filed; all resolved; Nil pending at year-end.

Other Notable Metrics

• Affiliations with eight trade/industry chambers.
• MSME procurement 13.27%; 73% newsprint from domestic vendors; 73% inputs domestically sourced.
• Sales to top dealers concentration: 65.17%; 11,613 dealers; top 10 dealers 15.03%.
• Purchases from related parties 2.28%; Sales to related parties 0.20%; Loans 0.05%; Investments 10.45%.
• Scope 3 not measured; LCAs not conducted; cyber security policy exists; no data breaches.

Key financial and business metrics

• Revenue from operations ₹23,555.21 mn.
• Net profit after tax ₹3,319.99 mn.
• Basic EPS ₹18.63.
• Diluted EPS ₹18.62.
• India revenue ₹22,955.64 mn.
• Outside India ₹599.57 mn.
• Interim dividend ₹1,247.60 mn.
• CSR expenditure ₹89.10 mn.
• Net debt ₹963.80 mn.
• Equity ₹24,288.06 mn.

AGM Details

• AGM on 2 September 2026 at 11:30 IST via VC/OAVM; deemed venue the registered office.

Key Resolutions

• Ordinary: Adopt standalone and consolidated financial statements for year ended March 31, 2026.
• Ordinary: Re-appoint Pawan Agarwal as Director by rotation.
• Ordinary: Ratify remuneration payable to Cost Auditors for 2026-27.
• Special: Re-appoint Sudhir Agarwal as Managing Director for 5 years (2027–2031).
• Special: Remuneration details: ₹3.67 crore per annum plus perquisites; increments up to 10%.
• Special: Remuneration may exceed caps; board authorized to revise within limits.

Financial Performance

• Consolidated revenue rose 8% YoY to INR 6,220 million.
• EBITDA grew 19% YoY to INR 1,647 million; margin at 26.1%.
• PAT rose 25% YoY to INR 1,007 million.
• Advertising revenue up 10% YoY to INR 4,320 million.
• Print and other EBITDA up 18% YoY to INR 1,499 million.
• Circulation revenue remained at INR 1,204 million.
• Radio revenue INR 425 million; EBITDA up 29% to INR 148 million.
• Digital MAUs around 20 million as of May 2026.

Advertising and Circulation

• Education ads contributed around 20% of ad mix.
• Government ads contributed around 14–15%.
• Real estate contributed around 11–12%.
• Automobile ads declined to single digits.
• NEET shift moved education ads to Q2.
• DAVP price increase around 26% aided government growth.

Digital and Content

• Digital revenue is miniscule presently; ad revenue growing from a small base.
• May 2026 digital apps around 20 million monthly active users.
• UP focus for digital; elections next year present opportunity.
• English app launch planned later; focus on Hindi/Gujarati first.
• 14,000-odd stories daily; 1,700 daily news pages.

Radio and Print Margins

• Radio: 37 stations; 7 more planned.
• Radio EBITDA growth ~15% in Q1; cost controls aiding margins.
• Print+digital EBITDA; circulation EBITDA not separately disclosed.

Costs and Newsprint

• Newsprint price rose ~13% YoY; Q2 higher; Q3/Q4 easing expected.
• Cost savings from traversal, admin, procurement aided margins.
• Cover price held at INR 4.93; no further hikes planned.

Capex and Asset Strategy

• Capex guidance for the year around INR 150–160 crore.
• Strategy to own properties to save rentals; Bhopal example cited.
• Annual spend on circulation and promotions estimated INR 20–25 crores.

Outlook and Q&A Highlights

• Girish: 'I can't give any guidance' on full-year outlook.
• Digital contribution remains small; monetization will take time.
• UP elections next year present digital opportunity.
• Circulation around 38–39 lakh; some market-share gains in states.
• Ad growth broad-based; education flat due to NEET shift; automobile down.
• Ad revenue growth driven by volume; pricing impact modest.
• No near-term revenue guidance; management emphasizes hard work.

Meeting Details

• Conference call held July 16, 2026 at 4:30 PM IST.
• Type: conference call; Mode: virtual audio conference.
• Event: earnings conference call for Q1 FY27 organized by D. B. Corp Ltd.
• Key participant: Company Secretary & Compliance Officer.
• Purpose: discuss quarterly results for quarter ended June 30, 2026.
• Recording available on the company website.

Promoter Group to Public reclassification

• Board approved BEDR Realcon and Diligent Pinkcity Center reclassification to Public, subject to exchange approvals.
• Reclassification subject to compliance with SEBI Listing Regulations and stock exchange approvals.
• BEDR and Diligent, with related parties, hold together less than 10% of total voting rights.
• They do not exercise control over the company, nor have board representation or KMP roles.
• They are not willful defaulters or fugitive economic offenders per RBI guidelines.
• Company to file applications with stock exchanges as prescribed under SEBI regulations.