D B Corp Ltd(DBCORP)

NSE: DBCORPBSE: 533151

₹ 147.5-4.56%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,629 crWebsite: www.dbcorpltd.comUpdated: 24 Oct 2026

About

D B Corp Ltd prints and publishes newspapers, runs FM radio channels, and operates web portals and mobile apps. It describes itself as India's largest print media company. Its five newspapers are Dainik Bhaskar, Divya Bhaskar, Divya Marathi, Saurashtra Samachar and DB Star, published in Hindi, Gujarati and Marathi across 12 states. It also runs the MY FM radio network, and its revenue was Rs 2,355.52 crore in FY26.^[1][2]

Business segments

Printing, Publishing and allied business: 93.3% of segment revenue (Rs 2,198.17 cr) in FY26, with an EBIT margin of 17.3%.^[3]
Radio: 6.7% of segment revenue (Rs 157.91 cr) in FY26, with an EBIT margin of 20.2%. Radio's share rose 0.9 percentage points over FY2018-FY2026.^[3]

Publications and brands

DBCL publishes five newspapers: Dainik Bhaskar (43 editions), Divya Bhaskar (8 editions), Divya Marathi (6 editions), Saurashtra Samachar and DB Star, in Hindi, Gujarati and Marathi.^[4]
As of FY25, the MY FM radio brand operated across 7 states and 30 cities, with leadership in Chandigarh, Haryana, Punjab, Rajasthan, Madhya Pradesh, Maharashtra and Chhattisgarh.^[4]
Its digital presence spans 4 internet portals and 4 mobile apps. Dainik Bhaskar is the #1 Hindi and Gujarati news app.^[4]
In FY25 the company launched Bhaskar English, an English-language mobile news app.^[4]

Printing infrastructure

As of FY25, the company ran 84 printing machines across 12 states, with an installed capacity of about 32.93 lakh copies per hour.^[4]
As of FY25, its distribution network had about 15,000 drop points serving 61 editions.^[4]

Key operating numbers

Consolidated ad revenue was INR411 cr in Q2 FY27 against INR439 cr in Q2 FY26, as Navratri moved into Q3; management estimates about INR40 cr shifted.^[5]
In Q2 FY27, BFSI/IPO ads grew about 50%, jewellery and healthcare were strong, FMCG fell 2%, auto was flat and real estate grew single digit.^[5]
Circulation revenue was INR116 cr in Q2 FY27 against INR121 cr; circulation stood at 37.68 lakh copies, about 30,000 lower QoQ.^[5]
Newsprint cost INR57,000 per tonne in Q2 FY27, up 21% YoY from INR47,000.^[5]
As of Q2 FY26, newsprint was sourced 70% domestically and 30% from imports.^[6]
Radio revenue was INR39 cr in Q2 FY27 against INR43 cr; H1 FY27 radio revenue held at INR82 cr while H1 EBITDA rose to INR26 cr from INR24 cr.^[5]
Ad ticket sizes are rising in Q2 FY27 as inside-page advertisers are upgraded to front, back and third pages and front-page jackets.^[5]

Digital reach

News app monthly active users fell to 18 million in Q2 FY27 from 20 million in Q4, after marketing spend was cut.^[5]
In Q2 FY27 the digital subscription price was being tested at INR199 against INR149 on user cohorts.^[5]
As of Q1 FY27, digital revenue was expected to stay below 5% of total revenue in the near term.^[7]

Customers and distribution

Advertisers include individuals, corporates, educational and government organisations, NGOs and agencies. No customer concentration is disclosed.^[4]
Exports were 2.59% of total turnover in FY25. All operations are in India.^[4]
Foreign investors held 12.74% of the company's share capital at March 31, 2026.^[1]

Expansion and capex

MY FM expanded to 37 cities in FY26 by adding 7 new stations, all EBITDA positive within 3 months.^[8]
As of Q1 FY27, 7 more radio stations were planned, with no target date stated.^[7]
As of Q2 FY27, management foresees no major capex for the next 4-5 quarters.^[5]
Properties being bought include sites in Bhopal, Jaipur, Kota, Aurangabad, Nasik and Jalgaon.^[8]

Recent developments

In Q2 FY27 management said the board will decide on further distribution of about INR1,120 cr of cash to shareholders.^[5]
As of Q2 FY27, no cover price hike is planned.^[5]
The FY26 annual report proposes re-appointing Sudhir Agarwal as Managing Director for 5 years, from January 1, 2027 to December 31, 2031.^[1]
The registered office moves to Sola, Ahmedabad from August 1, 2026.^[1]
Piyush Thakur joined as head of digital in Q4 FY26. The digital monetisation strategy rollout began in May 2026.^[8]

Market Cap

₹2,629 Cr

High / Low

₹280 / 146

Stock P/E

8.0

Price / Book

1.1

Book Value

₹136

EPS

₹18.6

No. of Shares

17.82 Cr

ROCE

18.0%

ROE

14.3%

OPM

19.4%

Debt / Equity

0.01

Sales

₹2,356 Cr

Net Profit

₹332 Cr

Promoter holding

74.5%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials

D B Corp Ltd(DBCORP)

About

Business segments

Publications and brands

Printing infrastructure

Key operating numbers

Digital reach

Customers and distribution

Expansion and capex

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

Product Segments

Corporate Actions