Media, Entertainment Q1 Results Preview - Seasonality To Benefit Parks, But Media Subdued: Prabhudas Lilladher

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.Media: Industry-wide box office collections increased 4.1% YoY to ~Rs 19.4 billion in Q1 FY25 led by Kalki 2898 AD and Munjya. Given the modest growth in collections, we expect PVR-Inox Ltd. to report footfalls of 30 million, resulting in a pre IND AS Ebitda loss of Rs 719 million. On the broadcasting side, ZEE Entertainment Enterprises Ltd.’s performance is likely to be impacted by diversion of ad-spends to sports/news genre due to IPL, CWC T20 and general elections. However, we expect Ebitda margin to improve to 11.6% amid ongoing cost rationalisation efforts on content, technology, marketing and manpower. .Entertainment: Persistent headwinds in Kiddopia, Real Money Gaming and AdTech businesses is likely to slow down the growth trajectory for Nazara. However, recent acquisition of Freaks is likely to re-ignite growth prospects of the Esports segment, and we expect further inorganic opportunities to materialize given Nazara has Rs 14.5 billion of cash on books. For Imagicaa, given this is a maiden quarter of consolidation of four assets at Lonavala and Shirdi and a seasonally strong quarter for water parks, we expect topline growth of 78% YoY with an Ebitda margin of 51.9%. In addition, the new park at Indore is likely to begin operations in FY25E, acting as a new catalyst for growth..Top picks: We believe Imagicaa is on a strong growth path led by the consolidation of parks at Lonavala, Shirdi and Indore from FY25E, and it is our preferred pick in the media and entertainment universe with a target price of Rs 112..Click on the attachment to read the full report:.Banks Q1 Preview- Seasonality To Ensue; Pressure On NII/PAT Growth But RoA To Remain Healthy: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Media, Entertainment Q1 Results Preview - Seasonality To Benefit Parks, But Media Subdued: Prabhudas Lilladher

Persistent headwinds in Kiddopia, Real Money Gaming and AdTech businesses is likely to slow down the growth trajectory for Nazara Technologies

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Media, Entertainment Q1 Results Preview - Seasonality To Benefit Parks, But Media Subdued: Prabhudas Lilladher

Persistent headwinds in Kiddopia, Real Money Gaming and AdTech businesses is likely to slow down the growth trajectory for Nazara Technologies

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