Price Target Changed • May 19
Price target decreased by 11% to ₹2,500 Down from ₹2,800, the current price target is provided by 1 analyst. New target price is 37% above last closing price of ₹1,829. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₹116 for next year compared to ₹102 last year. Reported Earnings • May 17
Full year 2026 earnings released: EPS: ₹102 (vs ₹87.80 in FY 2025) Full year 2026 results: EPS: ₹102 (up from ₹87.80 in FY 2025). Revenue: ₹7.84b (up 7.9% from FY 2025). Net income: ₹1.73b (up 16% from FY 2025). Profit margin: 22% (up from 21% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 22% per year. Buy Or Sell Opportunity • May 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.5% to ₹1,620. The fair value is estimated to be ₹2,064, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 21% in the next 2 years. Announcement • May 08
MPS Limited to Report Q4, 2026 Results on May 15, 2026 MPS Limited announced that they will report Q4, 2026 results on May 15, 2026 Buy Or Sell Opportunity • Apr 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to ₹1,612. The fair value is estimated to be ₹2,066, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 21% in the next 2 years. Announcement • Mar 26
MPS Limited Appoints Deepti Singh as Chief People Officer, Effective March 23, 2026 MPS Limited announced the appointment of Ms. Deepti Singh as Chief People Officer(CPO), effective March 23, 2026. This appointment reflects MPS' continued focus on strengthening its leadership team to support its next phase of global growth. In her role, Deepti will lead the company's global people strategy, with a focus on building a high-performance culture, enhancing organizational capability, and enabling talent strategies aligned with business priorities. As MPS continues to expand its global footprint across platforms, content, and strategic acquisitions, the role of the CPO will be central to driving alignment, strengthening leadership capability, and building a culture of accountability and operational excellence across the organization. Deepti will lead key strategic priorities across the people function, including advancing talent density and leadership development, strengthening employee engagement and internal communications, and enabling effective organizational design and talent acquisition strategies. She will also play a critical role in supporting integration efforts for current and future acquisitions, ensuring alignment with MPS' values and operating model. Deepti Singh is a global human resources leader with over 16 years of experience across high-growth technology organizations in India and North America. She has a strong track record of aligning people strategy with business priorities, driving large-scale organizational transformation, and building high-performing, scalable teams. Most recently, she served as Senior Vice President, Human Resources and Chief of Staff at Incedo Inc., where she worked closely with executive leadership on strategic execution and talent scaling across global operations. Prior to this, she held key leadership roles at Flipkart during its phase of rapid growth, including serving as Chief of Staff to both the Chief People Officer and the Chief Operating Officer. She began her career at Target India, where she built a strong foundation in human resources and organizational development. Deepti holds a Bachelor of Technology in Genetic Engineering and a PGDM in Human Resources and Industrial Relations. Buy Or Sell Opportunity • Feb 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to ₹1,639. The fair value is estimated to be ₹2,066, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 21% in the next 2 years. Reported Earnings • Feb 04
Third quarter 2026 earnings released: EPS: ₹20.93 (vs ₹24.00 in 3Q 2025) Third quarter 2026 results: EPS: ₹20.93 (down from ₹24.00 in 3Q 2025). Revenue: ₹1.82b (down 2.1% from 3Q 2025). Net income: ₹355.0m (down 13% from 3Q 2025). Profit margin: 20% (down from 22% in 3Q 2025). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 19% per year. Announcement • Jan 22
MPS Limited to Report Q3, 2026 Results on Feb 02, 2026 MPS Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Feb 02, 2026 Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹32.67 (vs ₹20.77 in 2Q 2025) Second quarter 2026 results: EPS: ₹32.67 (up from ₹20.77 in 2Q 2025). Revenue: ₹1.97b (up 11% from 2Q 2025). Net income: ₹554.4m (up 57% from 2Q 2025). Profit margin: 28% (up from 20% in 2Q 2025). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 04
MPS Limited to Report Q2, 2026 Results on Nov 12, 2025 MPS Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Board Change • Aug 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent & Non Executive Director Jayantika Dave was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 06
Upcoming dividend of ₹50.00 per share Eligible shareholders must have bought the stock before 13 August 2025. Payment date: 28 September 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 3.6%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (2.8%). Reported Earnings • Jul 19
First quarter 2026 earnings released: EPS: ₹20.78 (vs ₹15.27 in 1Q 2025) First quarter 2026 results: EPS: ₹20.78 (up from ₹15.27 in 1Q 2025). Revenue: ₹1.93b (up 7.0% from 1Q 2025). Net income: ₹352.4m (up 36% from 1Q 2025). Profit margin: 18% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 08
MPS Limited to Report Q1, 2026 Results on Jul 18, 2025 MPS Limited announced that they will report Q1, 2026 results on Jul 18, 2025 Announcement • May 19
MPS Limited, Annual General Meeting, Aug 29, 2025 MPS Limited, Annual General Meeting, Aug 29, 2025. Declared Dividend • May 18
Final dividend of ₹50.00 announced Shareholders will receive a dividend of ₹50.00. Ex-date: 13th August 2025 Payment date: 28th September 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is not covered by earnings (160% earnings payout ratio) nor is it covered by cash flows (226% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 78% to bring the payout ratio under control. EPS is expected to grow by 23% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • May 17
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹87.80 (up from ₹70.01 in FY 2024). Revenue: ₹7.39b (up 36% from FY 2024). Net income: ₹1.49b (up 25% from FY 2024). Profit margin: 20% (down from 22% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 4.2%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 10
MPS Limited to Report Q4, 2025 Results on May 16, 2025 MPS Limited announced that they will report Q4, 2025 results on May 16, 2025 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹2,354, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 13x in the Media industry in India. Total returns to shareholders of 319% over the past three years. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹2,898, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 11x in the Media industry in India. Total returns to shareholders of 428% over the past three years. New Risk • Mar 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 160% Cash payout ratio: 219% Minor Risk Share price has been volatile over the past 3 months (9.1% average weekly change). Price Target Changed • Jan 24
Price target increased by 8.2% to ₹2,630 Up from ₹2,430, the current price target is provided by 1 analyst. New target price is 6.8% above last closing price of ₹2,464. Stock is up 62% over the past year. The company is forecast to post earnings per share of ₹84.20 for next year compared to ₹70.01 last year. Announcement • Jan 14
MPS Limited to Report Q3, 2025 Results on Jan 23, 2025 MPS Limited announced that they will report Q3, 2025 results on Jan 23, 2025 Announcement • Jan 13
MPS Limited Appoints Geetika Hans as Chief People Officer MPS Limited announced that Ms. Geetika Hans, has been appointed as the Chief People Officer (CPO) and Senior Management Personnel of the Company effective from the commencement of business hours on 13 January 2025. Geetika is a seasoned HR leader with around 18 years of experience spanning global organizations and startups. In her most recent role at OYO, where she spent nearly six years, she led transformative HR initiatives, including scaling multiple markets, optimizing costs for greater efficiencies, building capabilities in Product & Tech, setting up skill development programs such as the Data Science and Product Academies and spearheading the Diversity & Inclusion agenda. Prior to OYO, she spent around nine years at Accenture managing HR for a large workforce to enable business growth and also led various HR transformation projects for diverse clients as part of the HR consulting practice. Her earlier roles at Accenture and GE Capital strengthened her expertise in workforce planning, organizational design, talent management and shared services implementation. Geetika is poised to design and implement talent strategies that build a high-performing, future-ready workforce. Her expertise in scaling teams, optimizing costs, and introducing innovative HR programs will enhance operational efficiency. Additionally, her commitment to diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) initiatives will foster a values-driven culture that aligns with the organization's goals. Her leadership will be instrumental in shaping the company's HR strategy, developing frameworks for talent acquisition, development, and retention, while ensuring adaptability and resilience in a competitive landscape. With nearly 18 years of HR & Talent expertise, Geetika is well-positioned to align with MPS's Vision 2027 and strengthen the company's position as a progressive employer of choice. She holds an MBA from the Faculty of Management Studies (FMS), Delhi University, and a BA (Hons) in Economics from Shri Ram College of Commerce (SRCC), Delhi University. Reported Earnings • Oct 30
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ₹20.77 (up from ₹17.70 in 2Q 2024). Revenue: ₹1.79b (up 38% from 2Q 2024). Net income: ₹352.4m (up 17% from 2Q 2024). Profit margin: 20% (down from 23% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 7.3%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 30
MPS Limited Announces Board and Committees Changes, Effective 30 October 2024 The board of directors of MPS Limited meeting held on October 29, 2024, the board of directors had reconstituted the CSR and Stakeholders Relationship Committees, inducting Ms. Ruvina Singh, Independent Non-Executive Director, as a member of both committees. Revised CSR Committee Composition (effective 30 October 2024): Mr. Rahul Arora- Chairman; Ms. Ruvina Singh and Ms. Yamini Tandon- members. Revised Stakeholders Relationship Committee composition (effective 30 October 2024): Ms. Yamini Tandon- Chairperson; Mr. Rahul Arora and Ms. Ruvina Singh – members. The company announced that Ms. Jayantika Dave, who was appointed as an Independent Non-Executive Director of the company for a second term of three consecutive years with effect from 30 October 2021 to 29 October 2024 (both days inclusive), has completed her tenure. Consequently, Ms. Dave, ceased to serve as an Independent Non-Executive Director on the Board, its Committees, and all other designated positions at the company, effective from 30 October 2024. Ms. Achal Khanna, who was appointed as an Independent Non-Executive Director of the Company for a second term of three consecutive years with effect from 30 October 2021 to 29 October 2024 (both days inclusive), has completed her tenure. Consequently, Ms. Khanna, ceased to serve as an Independent Non-Executive Director on the Board, its Committees, and all other designated positions at the company, effective from 30 October 2024. Announcement • Oct 21
MPS Limited to Report Q2, 2025 Results on Oct 29, 2024 MPS Limited announced that they will report Q2, 2025 results on Oct 29, 2024 Announcement • Aug 10
MPS Limited Approves Final Dividend for the Financial Year 2023-24 MPS Limited at its AGM held on 08 August 2024, approved to confirm the payment of Interim Dividend of INR 30/- (Rupees Thirty Only) per Equity Share of INR 10/- each already paid during the year as Interim Dividend for the Financial Year 2023-24 and to declare a Final Dividend of INR 45/- (Rupees Forty-Five Only) per Equity Share of INR 10/- each for the Financial Year 2023-24. Announcement • Aug 09
MPS Limited Announces Board Appointments MPS Limited announced the appointments of Mr. Karthik Bhat Khandige and Ms. Ruvina Singh as an Independent Non-Executive Directors of the Company, both to hold office for a term of 2 (Two) consecutive years with effect from 30 July 2024 to 29 July 2026 (both days inclusive). Announcement • Aug 01
MPS Limited to Report Q1, 2025 Results on Aug 08, 2024 MPS Limited announced that they will report Q1, 2025 results on Aug 08, 2024 Upcoming Dividend • Jul 25
Upcoming dividend of ₹45.00 per share Eligible shareholders must have bought the stock before 01 August 2024. Payment date: 06 September 2024. The company is paying out more than 100% of its profits and is paying out 77% of its cash flow. Trailing yield: 4.3%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (2.1%). Reported Earnings • Jul 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹70.01 (up from ₹63.87 in FY 2023). Revenue: ₹5.45b (up 8.8% from FY 2023). Net income: ₹1.19b (up 8.8% from FY 2023). Profit margin: 22% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,952, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Media industry in India. Total returns to shareholders of 277% over the past three years. Declared Dividend • May 24
Final dividend of ₹45.00 announced Shareholders will receive a dividend of ₹45.00. Ex-date: 16th July 2024 Payment date: 22nd August 2024 Dividend yield will be 4.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 45% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 23
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹70.01 (up from ₹63.87 in FY 2023). Revenue: ₹5.58b (up 11% from FY 2023). Net income: ₹1.19b (up 8.8% from FY 2023). Profit margin: 21% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 16
MPS Limited to Report Q4, 2024 Results on May 21, 2024 MPS Limited announced that they will report Q4, 2024 results on May 21, 2024 Price Target Changed • Mar 08
Price target increased by 28% to ₹2,120 Up from ₹1,660, the current price target is provided by 1 analyst. New target price is 32% above last closing price of ₹1,611. Stock is up 52% over the past year. The company is forecast to post earnings per share of ₹72.20 for next year compared to ₹63.87 last year. Announcement • Jan 30
MPS Limited Announces Cessation of Piyush Kumar Rastogi as Independent Director and Member of the Audit Committee MPS Limited announced that Dr. Piyush Kumar Rastogi has completed his second term of 3 years as an Independent Director of the Company and consequently, Dr. Piyush Kumar Rastogi ceased to be Independent Director and member of the Audit Committee of the Company, effecting from the end of the day 28 January 2024. Further, the Board of Directors of the Company reconstituted the Audit Committee of the Board of Directors with effect from 29 January 2024 and its composition would be as under: Mr. Ajay Mankotia Chairperson- Independent Non-Executive Director, Mr. Suhas Khullar Member- Independent Non-Executive Director, Mr. Rahul Arora Member- Executive Director-CEO. Reported Earnings • Jan 24
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹17.53 (up from ₹17.28 in 3Q 2023). Revenue: ₹1.35b (up 2.3% from 3Q 2023). Net income: ₹297.3m (flat on 3Q 2023). Profit margin: 22% (in line with 3Q 2023). Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 23
MPS Limited Approves the Appointment Suhas Khullar as Independent Non-Executive Director MPS Limited at the SBM held on January 23, 2024, the board has approved the appointment of Mr. Suhas Khullar (DIN: 07593659) as an Independent Non-Executive Director of the Company to hold office for a term of up to 2 (Two) consecutive years with effect from 01 January 2024 to 31 December 2025 (both days inclusive). Announcement • Jan 17
MPS Limited to Report Q3, 2024 Results on Jan 23, 2024 MPS Limited announced that they will report Q3, 2024 results on Jan 23, 2024 Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,722, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Media industry in India. Total returns to shareholders of 399% over the past three years. Announcement • Oct 28
Mps Limited Declares the First Interim Dividend for the Financial Year 2023-2024, Payable on or Before 25 November 2023 MPS Limited declared the first Interim Dividend of INR 30 per equity share of face value of INR 10/- each for the financial year 2023-24. The same shall be paid on or before 25 November 2023, to those Members whose names appear in the Register of Members of the Company and/or Register of Beneficial Owners maintained by the Depositories and made available to the Company as on Record Date i.e. 06 November 2023, as fixed for this purpose. Announcement • Oct 19
MPS Limited to Report Q2, 2024 Results on Oct 27, 2023 MPS Limited announced that they will report Q2, 2024 results on Oct 27, 2023 New Risk • Oct 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,758, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 18x in the Media industry in India. Total returns to shareholders of 369% over the past three years. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₹1,513, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Media industry in India. Total returns to shareholders of 307% over the past three years. Announcement • Jul 25
MPS Limited to Report Q1, 2024 Results on Aug 01, 2023 MPS Limited announced that they will report Q1, 2024 results on Aug 01, 2023 Upcoming Dividend • Jul 17
Upcoming dividend of ₹20.00 per share at 1.7% yield Eligible shareholders must have bought the stock before 24 July 2023. Payment date: 30 August 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.7%. Within top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.2%). Reported Earnings • Jul 12
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹63.87 (up from ₹48.61 in FY 2022). Revenue: ₹5.01b (up 12% from FY 2022). Net income: ₹1.09b (up 25% from FY 2022). Profit margin: 22% (up from 19% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.7%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,248, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Media industry in India. Total returns to shareholders of 418% over the past three years. Major Estimate Revision • May 23
Consensus EPS estimates increase by 11%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₹6.00b to ₹5.71b. EPS estimate rose from ₹69.20 to ₹77.00. Net income forecast to grow 21% next year vs 21% growth forecast for Media industry in India. Consensus price target up from ₹1,080 to ₹1,210. Share price fell 5.3% to ₹1,025 over the past week. Price Target Changed • May 19
Price target increased by 15% to ₹1,210 Up from ₹1,050, the current price target is provided by 1 analyst. New target price is 21% above last closing price of ₹1,002. Stock is up 66% over the past year. The company is forecast to post earnings per share of ₹77.00 for next year compared to ₹63.87 last year. Announcement • May 17
MPS Limited Recommends Dividend for the Financial Year 2022-23 MPS Limited informed that the Board of Directors of the Company, at its meeting held on 16 May 2023, have inter-alia, considered and approved: The Board of Directors have recommended a dividend of INR 20 per equity share of face value of INR 10 each for the financial year 2022-23, subject to the approval of the Members at the upcoming Annual General Meeting (AGM) of the Company to be held on 31 July 2023. The said dividend, if approved by the Members at the upcoming AGM, will be paid within 30 days from the date of the AGM. The Register of Members and Share Transfer Books of the Company will remain closed from 24 July 2023 to 31 July 2023 (both days inclusive) for the purpose of the 53rd AGM and payment of dividend, subject to the approval of the Members at the upcoming AGM of the Company. Reported Earnings • May 17
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹63.87 (up from ₹48.61 in FY 2022). Revenue: ₹5.12b (up 14% from FY 2022). Net income: ₹1.09b (up 25% from FY 2022). Profit margin: 21% (up from 19% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.7%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 16
MPS Limited, Annual General Meeting, Jul 31, 2023 MPS Limited, Annual General Meeting, Jul 31, 2023. Agenda: To approve the dividend of INR 20 per equity share of face value of INR 10/- each for the financial year 2022-23. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹1,082, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Media industry in India. Total returns to shareholders of 362% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹900, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Media industry in India. Total returns to shareholders of 262% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,120, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Media industry in India. Total returns to shareholders of 245% over the past three years. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director Ajay Mankotia was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 29
MPS Limited Provides Revenue Guidance for the Year 2027 MPS Limited provided revenue guidance for the year 2027. For the end of 2027, the company expects INR 15,000 million in revenue and at similar margins. Reported Earnings • Jan 26
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: ₹17.28 (up from ₹12.18 in 3Q 2022). Revenue: ₹1.36b (up 21% from 3Q 2022). Net income: ₹295.7m (up 35% from 3Q 2022). Profit margin: 22% (up from 20% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 18
Price target increased to ₹1,050 Up from ₹870, the current price target is provided by 1 analyst. New target price is 14% above last closing price of ₹921. Stock is up 31% over the past year. The company is forecast to post earnings per share of ₹60.60 for next year compared to ₹48.61 last year. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹801, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Media industry in India. Total returns to shareholders of 81% over the past three years. 
