Jagran Prakashan Limited (JAGRAN)
₹60.62 -1.00% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Jagran Prakashan's revenue was ₹499 Cr (+8.5% year on year, +5.8% on the previous quarter), and net profit ₹61.2 Cr (-8.3% year on year); the operating margin was 14.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹499 | +8.5% | +5.8% |
| Operating profit | ₹70.0 | +54.5% | +47.0% |
| Net profit | ₹61.2 | -8.3% | +910.4% |
| EPS (₹) | 2.70 | -12.6% | +246.2% |
| Operating margin | 14.0% | — | — |
JAGRAN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 72.92% of the JAGRAN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 64.16%. Delivery was unusually high while the price barely moved (-1.00%). It traded 3.0 times its average daily volume.
Delivery in the last 5 sessions: 67.3% · 65.3% · 65.3% · 66.5% · 72.9%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Jagran Prakashan Limited announced that the ongoing company petitions involving disputes among promoter group members before the NCLT Allahabad Bench were heard on October 7, 2026. In the matter of Mahendra Mohan Gupta & Ors. v. Devendra Mohan Gupta & Ors. (CP No. 64 of 2023), rebuttal arguments continued. Both this petition and the related matter involving Jagran Media Network Investment Private Limited (CP No. 57 of 2025) have been scheduled for further arguments on October 26, 2026. With promoter holding at 69.0%, the dispute centers around control and management, though operational business metrics remain unaffected for now.
- Hearing took place on October 7, 2026, before the NCLT Allahabad Division Bench
- Further arguments for CP No. 64 of 2023 and CP No. 57 of 2025 scheduled for October 26, 2026, at 12:30 PM
- Petitions filed under Sections 241, 242, and 244 of the Companies Act, 2013 relating to oppression and mismanagement
- Promoter shareholding remains at 69.0% as of September 2026
Jagran Prakashan Limited published newspaper advertisements on October 6, 2026, regarding a special window for the transfer and dematerialisation of physical shares. As per SEBI circular guidelines, the special window is open for a period of one year from February 5, 2026, to February 4, 2027, for shares sold or purchased prior to April 1, 2019. Re-lodged shares under this window will be credited in demat mode with a mandatory lock-in period of one year. The filing is standard procedural compliance and carries zero impact on the company's financial performance.
- Special window opened for one year from February 5, 2026, till February 4, 2027
- Applies to transfer requests and dematerialisation of physical shares sold/purchased prior to April 1, 2019
- Transferred shares subject to a mandatory lock-in of one year from registration date
- Advertisements published on October 6, 2026, in Business Standard and Dainik Jagran
Jagran Prakashan Limited has announced the closure of its trading window for Designated Persons and their immediate relatives effective Thursday, October 1, 2026. The closure precedes the consideration and declaration of financial results for the quarter and half-year ended September 30, 2026. Per SEBI Insider Trading regulations, the window will reopen 48 hours following the formal declaration of the financial results. The date for the Board Meeting to consider the results will be intimated in due course.
- Trading window closes on Thursday, 1st October, 2026
- Closure applies until 48 hours after the declaration of financial results for the period ended 30th September, 2026
- Applicable to Designated Persons and their immediate relatives under SEBI PIT Regulations
- Board meeting date for result approval to be announced separately
At its 50th Annual General Meeting held on September 18, 2026, Jagran Prakashan Limited approved the re-appointment of four Whole-time Directors for a 5-year tenure effective October 1, 2026, to September 30, 2031. The re-appointed WTDs include Dhirendra Mohan Gupta, Sunil Gupta, Sanjay Gupta, and Shailesh Gupta. Additionally, shareholders approved the continuation of Mahendra Mohan Gupta as Non-Executive Director for five years from October 1, 2026. The appointments maintain leadership continuity across the promoter-led media group.
- Re-appointment of 4 Whole-time Directors approved for a 5-year term from October 1, 2026, to September 30, 2031
- Approval granted at the 50th Annual General Meeting held on September 18, 2026
- Continuation of Mr. Mahendra Mohan Gupta as Non-Executive Director approved for a 5-year tenure until September 30, 2031
- Key promoter-directors Dhirendra Mohan Gupta (82 years, 60+ yrs experience) and Sanjay Gupta (63 years, 40+ yrs experience) re-appointed
At its 50th Annual General Meeting held on September 18, 2026, Jagran Prakashan Limited approved the continuation and re-appointment of key promoter-directors for a further 5-year tenure from October 1, 2026 to September 30, 2031. Mr. Mahendra Mohan Gupta (aged 85) will continue as Non-Executive Director not liable to retire by rotation under Regulation 17(1A) and 17(1D). Additionally, Whole-time Directors Mr. Dhirendra Mohan Gupta, Mr. Sunil Gupta, Mr. Sanjay Gupta, and Mr. Shailesh Gupta were re-appointed for 5-year terms. The approvals ensure leadership stability across the publisher of Dainik Jagran.
- AGM approved continuation of Mr. Mahendra Mohan Gupta as Non-Executive Director for 5 years from October 1, 2026 to September 30, 2031
- Re-appointment of four Whole-time Directors (Dhirendra Mohan Gupta, Sunil Gupta, Sanjay Gupta, Shailesh Gupta) for 5-year terms ending September 30, 2031
- Leadership continuity confirmed at the company's 50th Annual General Meeting held on September 18, 2026
- Promoter group maintains firm governance control with promoter holding at 69.0%
At its 50th AGM on September 18, 2026, Jagran Prakashan approved the re-appointment of four Whole-time Directors for a 5-year tenure effective October 1, 2026, through September 30, 2031. The re-appointed directors include Dhirendra Mohan Gupta, Sunil Gupta, Sanjay Gupta, and Shailesh Gupta. Additionally, shareholders approved the continuation of Mahendra Mohan Gupta as Non-Executive Director for five years until September 30, 2031. The move reinforces promoter continuity across the leadership of the Rs 1,916 Cr TTM revenue print and media firm.
- Re-appointment of 4 Whole-time Directors for a 5-year term from October 1, 2026 to September 30, 2031
- Shareholder approval granted at the 50th AGM held on September 18, 2026
- Continuation of Mr. Mahendra Mohan Gupta (aged 85) as Non-Executive Director approved until September 30, 2031
- All re-appointed directors belong to the promoter group, which maintains a 69.0% shareholding
Jagran Prakashan Limited announced the conclusion and voting results of its 50th Annual General Meeting held on September 18, 2026. All 8 resolutions were approved by shareholders with the requisite majority, including the adoption of FY26 standalone and consolidated financial statements. Shareholders also approved the re-appointment of whole-time directors including Mr. Dhirendra Mohan Gupta, Mr. Sunil Gupta, Mr. Sanjay Gupta, and Mr. Shailesh Gupta (garnering 93.15% votes in favor). The continuation of Mr. Mahendra Mohan Gupta as Non-Executive Director was also approved with 94.69% votes in favor.
- 50th Annual General Meeting concluded successfully on September 18, 2026
- All 8 resolutions passed with requisite majority by members
- Re-appointment of Whole-time Director Shailesh Gupta passed with 93.1452% votes in favor (150,686,730 votes)
- Continuation of Non-Executive Director Mahendra Mohan Gupta passed with 5.3133% votes cast against (8,595,711 votes)
Jagran Prakashan Limited announced the conclusion and voting results of its 50th Annual General Meeting held on September 18, 2026. All 8 resolutions, including the adoption of FY26 financial statements and director re-appointments, were passed with requisite majorities. Re-appointments included Whole-time Directors Sanjay Gupta (93.87% votes in favor) and Shailesh Gupta (93.15% in favor), as well as the continuation of Non-Executive Director Mahendra Mohan Gupta (94.69% in favor). A total of 229 members voted via remote e-voting and 48 members/representatives attended the virtual meeting.
- All 8 resolutions passed with requisite majorities at the 50th AGM on September 18, 2026
- Special resolution for re-appointment of Sanjay Gupta as Whole-time Director received 93.87% votes in favor
- Re-appointment of Shailesh Gupta as Whole-time Director approved with 93.15% votes in favor
- Continuation of Mahendra Mohan Gupta as Non-Executive Director approved with 94.69% votes in favor
- A total of 229 members participated via remote e-voting alongside 48 members/representatives present
Jagran Prakashan Limited announced the conclusion and voting results of its 50th Annual General Meeting held on September 18, 2026. All 8 resolutions were approved by shareholders with the requisite majority, including the adoption of FY26 financial statements and director re-appointments. Specifically, re-appointments of key whole-time directors such as Mr. Sanjay Gupta and Mr. Shailesh Gupta passed with over 93% favorable votes. The Scrutinizer's report confirmed 229 remote e-voters alongside participants via Insta-Poll.
- 50th Annual General Meeting concluded successfully on September 18, 2026
- Resolution 6 (re-appointment of Whole-time Director Sanjay Gupta) passed with 93.87% votes in favor
- Resolution 7 (re-appointment of Whole-time Director Shailesh Gupta) passed with 93.15% (150,686,730 votes) in favor
- Resolution 8 (continuation of Non-Executive Director Mahendra Mohan Gupta) passed with 5.31% (8,595,711 votes) dissenting
Jagran Prakashan Limited announced the successful conclusion of its 50th Annual General Meeting held on September 18, 2026. All listed agenda items, including the adoption of FY26 financial statements and director re-appointments, were approved with the requisite majorities. Special resolutions for the re-appointment of whole-time directors Sanjay Gupta and Shailesh Gupta passed with over 93% support. Non-Executive Director Mahendra Mohan Gupta's continuation was also approved with approximately 94.7% votes in favor.
- 50th Annual General Meeting concluded via VC/OAVM on September 18, 2026
- Adoption of FY26 standalone and consolidated financial statements passed with requisite majority
- Special resolution for re-appointment of Shailesh Gupta as Whole-time Director received 93.15% votes in favor
- Special resolution for continuation of Mahendra Mohan Gupta as Non-Executive Director passed with ~94.7% favor (8,595,711 votes against or 5.31%)
Jagran Prakashan Limited disclosed an update regarding ongoing company petitions filed under Sections 241, 242, and 244 of the Companies Act, 2013 before NCLT Allahabad. In the hearing held on September 1, 2026, rejoinder arguments were presented on behalf of the petitioners. The Tribunal has directed that further arguments in both matters (CP No. 64/2023 and CP No. 57/2025) will continue on October 7, 2026, at 2:30 PM.
- Hearing conducted on September 1, 2026, before NCLT Allahabad Bench for CP No. 64/2023 and CP No. 57/2025
- Senior counsel argued the matter in rejoinder on behalf of the petitioners under Section 241/242/244
- Further arguments scheduled to continue on October 7, 2026, at 2:30 PM
Jagran Prakashan Limited has received a Show Cause Notice (SCN) dated August 26, 2026, from the Excise and Taxation Officer, Hisar (Haryana). The notice proposes an alleged GST demand of Rs 21,73,727 along with applicable interest and penalty under Section 74 of the CGST Act, 2017 for the period 2020-2021 regarding Input Tax Credit entitlement. Compared to Jagran's TTM revenue of Rs 1,916 Cr and TTM PAT of Rs 179 Cr, the demanded amount represents less than 0.02% of revenue. The company stated that based on legal advice, the notice is not tenable and it has a strong case on merits.
- Alleged GST demand of Rs 21,73,727 (Rs 21.74 lakh) received under Section 74 of the CGST Act, 2017.
- Notice received on August 26, 2026, from Excise and Taxation Officer, Hisar (Haryana) for the period 2020 to 2021.
- Issue pertains to clarification and entitlement of Input Tax Credit (ITC) availed by the company.
- Company plans to file an appropriate response within prescribed timelines, stating no material financial impact.
Jagran Prakashan Limited has submitted copies of newspaper advertisements published in Business Standard and Dainik Jagran dated August 22, 2026. The notice confirms the completion of electronic dispatch of the 50th Annual General Meeting (AGM) notice and the Annual Report for FY 2025-26 on August 21, 2026. It also outlines relevant information regarding electronic voting procedures for shareholders. This is a standard statutory compliance disclosure.
- Published notice for the 50th Annual General Meeting in Business Standard and Dainik Jagran on August 22, 2026
- Electronic dispatch of FY26 Annual Report and AGM Notice completed on August 21, 2026
- Contains statutory instructions and dates for shareholder remote e-voting
Jagran Prakashan Limited has submitted its FY2025-26 Annual Report and notice convening its 50th Annual General Meeting (AGM) on September 18, 2026, via video conferencing. The cut-off date for e-voting eligibility is set for September 11, 2026, with remote e-voting open from September 15 to September 17, 2026. Key agenda items include the re-appointment of Whole-time Directors Mr. Dhirendra Mohan Gupta and Mr. Sunil Gupta for 5-year terms starting October 1, 2026, at a monthly salary of ₹21,60,000 each.
- 50th AGM scheduled for Friday, September 18, 2026, at 12:30 PM IST via VC/OAVM
- Cut-off date for remote e-voting eligibility is September 11, 2026
- Remote e-voting window open from September 15 (09:00 AM IST) to September 17, 2026 (05:00 PM IST)
- Proposed 5-year re-appointment of Whole-time Directors from October 1, 2026, at ₹21,60,000/month salary with up to 15% annual increment
- FY26 CSR obligation was ₹548.36 Lakhs against approved expenditure of ₹550 Lakhs
Jagran Prakashan Limited has scheduled its 50th Annual General Meeting (AGM) for Friday, September 18, 2026, via video conferencing. Key resolutions include the adoption of FY26 financial statements and the re-appointment of Whole-time Directors Mr. Dhirendra Mohan Gupta and Mr. Sunil Gupta for 5-year terms starting October 1, 2026, at a proposed monthly salary of ₹21,60,000 each (with up to 15% annual increment). The remote e-voting window is set from September 15 to September 17, 2026, with a cut-off date of September 11, 2026.
- 50th Annual General Meeting scheduled for September 18, 2026 at 12:30 PM IST via VC/OAVM
- Voting cut-off date fixed for September 11, 2026, with remote e-voting active from September 15 to 17, 2026
- Proposed 5-year re-appointment of Whole-time Directors Dhirendra Mohan Gupta and Sunil Gupta at ₹21.6 lakh/month salary with up to 15% annual increments
- CSR expenditure approved at ₹550 Lakhs against statutory obligation of ₹548.36 Lakhs for FY26
Financial Performance
Revenue Growth by Segment
In Q2FY26, Standalone Operating Revenue reached INR 413.77 Cr, a 10.1% increase from INR 375.76 Cr. Advertisement revenue grew 12.9% to INR 276.15 Cr. Dainik Jagran segment revenue grew 12.3% to INR 299.29 Cr. Digital revenue was INR 20.27 Cr, down 2% from INR 20.69 Cr. Outdoor and Event businesses grew by 27% and 8% respectively in the previous fiscal year.
Geographic Revenue Split
The company maintains a dominant market leadership position in the Hindi belt, covering 13 states including Uttar Pradesh, Uttarakhand, Bihar, Jharkhand, Punjab, Haryana, and the National Capital Region. Specific percentage split per state is not disclosed, but Dainik Jagran accounts for approximately 72% of standalone operating revenue.
Profitability Margins
Standalone Operating Profit for Q2FY26 was INR 70.09 Cr (16.9% margin), up 9.1% from INR 64.25 Cr. PAT for Q2FY26 rose 49.6% to INR 123.70 Cr, aided by INR 31.80 Cr from Keyman policy proceeds. Consolidated Net Profit Margin fell to 4.71% in FY25 from 8.15% in FY24 due to impairment losses in subsidiaries.
EBITDA Margin
Consolidated Operating Profit Margin was 15.41% in FY25, down from 19.05% in FY24. The decline was driven by higher impairment losses on financial assets in the Music Broadcast Ltd (MBL) subsidiary and lower overall revenues.
Capital Expenditure
The company maintains moderate capital expenditure plans, which are comfortably covered by a cash balance of INR 1,083 Cr as of March 31, 2025. Specific INR Cr figures for future capex are not disclosed, but historical debt obligations of INR 175 Cr were met in FY24.
Credit Rating & Borrowing
CRISIL has assigned 'CRISIL AA/Stable' for Jagran Prakashan Ltd and Music Broadcast Ltd, and 'CRISIL AA-/Stable' for Midday Infomedia Ltd. Interest coverage ratio stood at 13.56x (Consolidated) and 17.38x (Standalone) for FY25.
Operational Drivers
Raw Materials
Newsprint is the primary raw material, representing a substantial but unspecified percentage of operating costs. Volatility in newsprint prices is cited as a major risk to operating margins.
Import Sources
Not specifically disclosed in the documents, though newsprint is typically sourced both domestically and through imports in the Indian print industry.
Capacity Expansion
The company operates 300+ editions and sub-editions across 10 languages. It has a 13-state print presence and 19 digital media portals. No specific MTPA or unit-based expansion was quantified.
Raw Material Costs
Newsprint price volatility significantly impacted EBITDA margins in FY23. Prudent cost control and operational efficiencies in Q2FY26 contributed to a 16% increase in Dainik Jagran's operating profit to INR 69 Cr.
Manufacturing Efficiency
Operating margin for the core Dainik Jagran business improved to 23.01% in Q2FY26 from 22.38% in Q2FY25, reflecting improved operational efficiency.
Logistics & Distribution
Circulation revenue decreased by 6% in FY25 due to lower circulation volumes, following industry trends. The company is taking initiatives to stabilize circulation in H2 FY26.
Strategic Growth
Expected Growth Rate
10.10%
Growth Strategy
Growth is targeted through the integration of Radio and Digital offerings, expansion of non-Free Commercial Time (non-FCT) segments like events, and leveraging leadership in Tier-2 and Tier-3 cities. The company is also focusing on product enhancement by increasing pages per copy.
Products & Services
Newspapers (Dainik Jagran, Mid-day, Naidunia), Magazines (Sakhi), Radio broadcasting (Radio City), Digital news portals, Outdoor advertising (OOH), and Event management.
Brand Portfolio
Dainik Jagran, Radio City, Mid-day, Inext, Naidunia, Punjabi Jagran, Inquilab, Sakhi, GujaratiJagran.com, Jagran Prime.
New Products/Services
Launched GujaratiJagran.com and Jagran Prime. Digital reach has reached ~65 million users in the News/Information category.
Market Expansion
Focusing on deepening presence in the Hindi belt and growing the digital segment, which currently contributes approximately INR 20.27 Cr per quarter.
Market Share & Ranking
Dainik Jagran is the No. 1 newspaper in India by readership (6.9 Cr readers), leading the No. 2 competitor by 1.6 Cr readers (a 30% lead).
Strategic Alliances
Consolidated entities include Music Broadcast Ltd (MBL), Midday Infomedia Ltd (MIL), Leet OOH Media Pvt Ltd, MMI Online Ltd, and X-Pert Publicity Pvt Ltd.
External Factors
Industry Trends
The print industry faces headwinds from digital transformation. JPL is positioning itself by growing its digital, OOH, and events segments to 16% of total revenue in FY25 from 8% in FY19.
Competitive Landscape
Primary competitors in the Hindi daily segment include Amar Ujala and Hindustan, particularly in Uttar Pradesh and Uttarakhand.
Competitive Moat
The moat is built on a 7-decade brand legacy and a massive readership base of 6.9 Cr. This scale creates a network effect for advertisers that is difficult for competitors to replicate in the Hindi belt.
Macro Economic Sensitivity
Highly sensitive to economic cycles as advertisement revenue (the primary income source) fluctuates with corporate marketing budgets and GDP growth.
Consumer Behavior
Shift toward digital news consumption is impacting print circulation, which remains below pre-pandemic levels across the industry.
Geopolitical Risks
Global supply chain issues affecting newsprint availability and pricing represent the primary geopolitical risk.
Regulatory & Governance
Industry Regulations
Operations are subject to DAVP (Directorate of Advertising and Visual Publicity) rates for government advertisements and RNI (Registrar of Newspapers for India) regulations.
Taxation Policy Impact
Effective tax rate is standard for Indian corporates; Standalone PBT of INR 161.50 Cr resulted in PAT of INR 123.70 Cr in Q2FY26.
Legal Contingencies
There is ongoing litigation among the promoters. CRISIL notes that while it currently has no material financial implication, any adverse outcome could impact the credit risk profile.
Risk Analysis
Key Uncertainties
Volatility in newsprint prices (high impact on margins), promoter litigation (governance risk), and the pace of digital migration (long-term structural risk).
Geographic Concentration Risk
High concentration in the Hindi belt (North India), which accounts for the vast majority of print revenue.
Third Party Dependencies
Dependency on newsprint suppliers and government advertising bodies for revenue and receivables.
Technology Obsolescence Risk
Risk of print becoming obsolete; mitigated by investment in 19 digital portals and reaching 65 million digital users.
Credit & Counterparty Risk
Receivables from government departments take longer to recover, contributing to impairment losses on financial assets (INR 15 Cr provision in MBL in FY25).
