Buy Zee Entertainment Enterprises; target of Rs 680: Sharekhan

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Buy Zee Entertainment Enterprises; target of Rs 680: Sharekhan

Sharekhan’s research report on Zee Entertainment Enterprises

For  Q4FY2018, overall revenue of Zee Entertainment Enterprises Limited (ZEEL) grew by 12.9% y-o-y to Rs. 1,725.3 crore. Revenue growth was primarily led  by  impressive  advertisement revenue  growth of  23.9%  y-o-y  (though on a low base).  Domestic ad revenue (adjusted for sports) grew by  24.9%  y-o-y  on  account  of  strong  recovery in  advertising  spends  across  categories,  while  international ad revenue grew by 26.1% y-o-y to Rs.  66.2  crore.


We continue to remain positive on ZEEL, as it is one of  the  key  beneficiaries  of  the  structural  pan-India  media  consumption  theme.  We  maintain our Buy rating on the stock with an unchanged price target (PT) of Rs. 680.

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