In a free-wheeling interview with Joydeep R Ray and Lohit Bharambe at her suburban Mumbai office, Apurva Purohit, Chief Executive of Music Broadcast Limited shares the past, present and future of the recently listed corporate entity. Excerpts:
Music Broadcast has been able to cut down its debt-to-equity ratio to 2.93x in FY16 from 5.09x in FY15. What are the company’s plans to reduce debt level in the current financial year?
The whole reason for an IPO was to reduce debt of the company. By the end of FY17 it will be reduced substantially. Once the debt comes down, then the capital structure of the company will get strengthened. After that, practically no loan and a good looking balance sheet for MBL will be there. We are looking at inorganic growth for the company, going forward. There will be organic growth also. As for the past record of the company, we have acquired 11 more stations. We will grow at least couple of percentage more than the industry’s growth for the next several years. But, apart from that, inorganic growth will help the company to grow at that pace. As the lock-in period is getting over by FY18, there will be organisations with individual stations on sale and we will be expanding through these acquisitions.
The company has around 5 crore listeners for its radio stations. Can you throw some light on what are the company’s projections on listeners?
This story is from the June 25 2017 edition of Dalal Street Investment Journal.
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This story is from the June 25 2017 edition of Dalal Street Investment Journal.
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