D. B. Corp Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript D. B. Corp Ltd filed with BSE on 20 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
D.B. Corp reported consolidated total revenue of INR 6,220 million for Q1 FY27, up around 8% year-on-year, with EBITDA growing around 19% to INR 1,647 million and EBITDA margin expanding by 250 basis points to 26.1%. Advertising revenue grew around 10% year-on-year while circulation revenue remained stable, and management attributed margin expansion to cost management offsetting newsprint price inflation. Management also discussed digital app user trends, radio segment growth, and the outlook for newsprint prices in the coming quarters.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Consolidated total revenue: INR 6,220 million (Q1 FY27)
p. 3
“Our consolidated total revenue increased by around 8% year-on-year to INR 6,220 million, reflecting steady momentum across our core businesses.”
Pawan Agarwal, page 3 of the filed PDF · View the filing
EBITDA: INR 1,647 million (Q1 FY27)
p. 3
“EBITDA grew by around 19% year-on-year to INR 1,647 million, significantly outpacing revenue growth.”
Pawan Agarwal, page 3 of the filed PDF · View the filing
EBITDA margin: 26.1% (Q1 FY27)
p. 3
“Consequently, our EBITDA margin expanded by 250 basis points to 26.1% compared to 23.6% in Q1 FY26, demonstrating the strength of our business model.”
Pawan Agarwal, page 3 of the filed PDF · View the filing
Profit after tax: INR 1,007 million (Q1 FY27)
p. 3
“Our profit after tax increased by around 25% year-on-year to INR 1,007 million compared with INR 808 million in the corresponding quarter last year.”
Pawan Agarwal, page 3 of the filed PDF · View the filing
Advertising revenue: INR 4,320 million (Q1 FY27)
p. 3
“Our consolidated advertising revenue continued its strong trajectory, growing by around 10% year-on-year to INR 4,320 million compared with INR 3,933 million in Q1 FY26.”
Pawan Agarwal, page 3 of the filed PDF · View the filing
Print and other business EBITDA: INR 1,499 million (Q1 FY27)
p. 4
“Print and other business EBITDA grew by 18% year-on-year to INR 1,499 million as compared to INR 1,270 million in Q1 FY26.”
Pawan Agarwal, page 4 of the filed PDF · View the filing
Circulation revenue: INR 1,204 million (Q1 FY27)
p. 4
“At the same time, our circulation revenue remained stable at INR 1,204 million, reflecting the continued loyalty of our readers and the strength of our market-leading publication despite an evolving media landscape.”
Pawan Agarwal, page 4 of the filed PDF · View the filing
Radio revenue: INR 425 million (Q1 FY27)
p. 4
“Revenue increased to INR 425 million from INR 392 million last year, while EBITDA grew by around 29% year-on-year to INR 148 million compared with INR 115 million last year.”
Pawan Agarwal, page 4 of the filed PDF · View the filing
News app monthly active users: around 20 million (as of May 2026)
p. 4
“as of May 2026, our news applications recorded around 20 million monthly active users, maintaining Dainik Bhaskar's position as the number 1 Hindi and Gujarati news app.”
Pawan Agarwal, page 4 of the filed PDF · View the filing
Circulation copies: around 38 lakh (Q1 FY27)
p. 5
“So the circulation number in Q1 this year is around 38 lakh copies.”
Girish Agarwal, page 5 of the filed PDF · View the filing
Average cover price: INR 4.93 (Q1 FY27)
p. 7
“One second. INR 4.93 is the average cover price.”
Girish Agarwal, page 7 of the filed PDF · View the filing
Newsprint price increase: around 13% (Q1 FY27 vs Q1 FY26)
p. 6
“Newsprint price, if you see in quarter 1, we have seen around 13% hike.”
Girish Agarwal, page 6 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Newsprint prices — Q2 FY27
stated firmly by Girish Agarwal
p. 6
“Now quarter 2 also, we believe the price will continue to go up because in quarter 1, we had sudden stock lined up from the earlier quantities.”
Girish Agarwal, page 6 of the filed PDF · View the filing
Newsprint prices — Q3 and Q4 FY27
stated conditionally by Girish Agarwal
p. 6
“But we clearly see an indication from Q3 and Q4, the prices will start coming down.”
Girish Agarwal, page 6 of the filed PDF · View the filing
Capex — INR 150-160 crores · FY27
stated firmly by Girish Agarwal
p. 8
“Yes, it's going to be around the same range also.”
Girish Agarwal, page 8 of the filed PDF · View the filing
Radio segment revenue growth — 12% · FY27
stated as an aspiration by Girish Agarwal
p. 10
“I think 12% number growth is also a humongous task in radio business because if you put it, the space is fixed.”
Girish Agarwal, page 10 of the filed PDF · View the filing
Full-year revenue vs pre-COVID high — FY27
stated as an aspiration by Girish Agarwal
p. 13
“I can't give any guidance, sir, but everybody is working hard.”
Girish Agarwal, page 13 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Circulation was around 38 lakh copies, broadly stable versus Q4, with market share gains in some regions.
Answered by Girish Agarwal
Asked by Shivam Gupta: Whether circulation numbers stabilized in Q1 after dipping in Q4, and outlook for the full year.
p. 5
“So the circulation number in Q1 this year is around 38 lakh copies.”
Girish Agarwal, page 5 of the filed PDF · View the filing
Most sectors grew except education (flat due to NEET exam rescheduling) and automobile (down due to geopolitical/fuel issues); DAVP price hike has contributed to government ad growth.
Answered by Girish Agarwal
Asked by Kavish Parekh: Breakdown of sectoral contribution to ad revenue growth and whether DAVP price hikes contributed.
p. 6
“It has kicked in. That's the reason the government numbers are also growing in double-digit.”
Girish Agarwal, page 6 of the filed PDF · View the filing
Management attributed it to team efforts and advertiser confidence in print across categories.
Answered by Girish Agarwal
Asked by Kavish Parekh: What is driving the strong print advertising growth versus soft broadcaster commentary.
p. 6
“But on a serious note, good thing is that, that shows that the efforts made by the team and the confidence of the various categories on the print.”
Girish Agarwal, page 6 of the filed PDF · View the filing
Realization is flat with no price hikes planned, as management prioritizes maintaining copy volumes.
Answered by Girish Agarwal
Asked by Kavish Parekh: Whether cover price realization has changed given circulation decline.
p. 6
“If you look at my realization, we are at a flat. There's no growth, okay?”
Girish Agarwal, page 6 of the filed PDF · View the filing
Management cited cost savings and top-line growth as drivers.
Answered by Girish Agarwal
Asked by Abhinav: What drove year-on-year operating margin expansion.
p. 8
“Cost saving, top line going up.”
Girish Agarwal, page 8 of the filed PDF · View the filing
Growth was mainly volume-driven with a smaller pricing contribution.
Answered by Girish Agarwal
Asked by Yash: Whether ad revenue growth was driven by pricing or volume.
p. 10
“A little bit of both, sir. I can't say 50-50. Pricing is less, but more of volume.”
Girish Agarwal, page 10 of the filed PDF · View the filing
Minor price tweaks on weekends and increased high-paid copies in some locations contributed to revenue.
Answered by Girish Agarwal
Asked by Yash: Reason for circulation revenue rising despite falling copy numbers.
p. 11
“In certain places, there's a minor tweaking of the weekend prices, and few places, the high-paid copies on a particular day was increased.”
Girish Agarwal, page 11 of the filed PDF · View the filing
Digital revenue remains a very small portion of total revenue, though advertising on digital is growing off a small base.
Answered by Girish Agarwal
Asked by Aditya Mundra: What portion of revenue comes from digital.
p. 12
“Yes, yes, advertising revenue is growing there. It's -- base is too small; advertising revenue is growing there.”
Girish Agarwal, page 12 of the filed PDF · View the filing
Risks flagged
Newsprint price inflation due to macroeconomic and geopolitical developments
p. 4
“On the cost front, newsprint price witnessed some upward pressure during the quarter, primarily due to broader macroeconomic and geopolitical developments.”
Pawan Agarwal, page 4 of the filed PDF · View the filing
Automobile advertising decline due to geopolitical issues and fuel supply/rates
p. 5
“Automobile was down, actually negative because of the geopolitical issues, the fuel supply, the rates and all that.”
Girish Agarwal, page 5 of the filed PDF · View the filing
Some readers shifting from print to digital, impacting circulation
p. 11
“I think it's a mix on the ground because let's get it right, there is some impact of people -- some people, those who are not very serious readers moving on to digital, a little bit of them, a couple of 2%, 3%, 4% like that.”
Girish Agarwal, page 11 of the filed PDF · View the filing
Overall print circulation market declining industry-wide
p. 11
“Maybe I would say by a couple of percentages.”
Girish Agarwal, page 11 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.