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 The Equity Desk Forum :Investment Ideas - Creating winning portfolios! :Stock Synopsis
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jstk
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Quote jstk Replybullet Topic: Cybermedia-Speciality Media
    Posted: 29/May/2007 at 2:27pm

Cybermedia ( India ) ltd ( www.cybermedia.co.in) is a very interesting media company. They are South Asia’s first & largest Speciality media house with category leader products reaching out to 12 lakh readers & 7 lakh online community :

 

They have 12 publications in the infotech, biotech,consumer electronics & telecom area ( Dataquest, PC Quest , Bio Spectrum , Voice & data , Living Digital etc ) and a  end to end media value chain including the internet ( www.ciol.com ) and  Media services including market  research ( IDC India ), job board ( www.Cybermediadice.com ), content outsourcing, multimedia

 

 9-month financials for period ended Dec 06:

 Sales are up by 26% to Rs.74 cr,

EBIDTA up 22% to Rs.11.8 cr

 NP up 20% to Rs.5.8 cr.

 

Equity : Rs.10 cr

Current market price: Rs.113

M/cap : Rs.113 crores

 

Some of the businesses like job board & content services are in an investment phase & currently witnessing negative margins.

 

To enable greater focus on individual segments, the company announced a new organizational structure with 3 Business groups, headed by respective heads:

1)      Print Publishing ( all the 7 publications )

2)      Online properties, job portal & Life sciences

3)      Media services group ( includes IDC India which is the IT & telecom research business & aslo the content BPO )

 

Pradeep Gupta & Shyam Malhotra ( both IIT /IIM ) are key drivers alongwith respective business heads- Prasanto Kumar Roy , Hoshie Ghaswalla, & E Abraham Mathew all of who have been with the company for nearly 15-20 years.

 

With most new businesses expected to gain traction and ad revenues ( print & online )growing strongly, I believe that Cybermedia  offers tremendous potential and promise.

 
Would be great if some of the IT -related TED'ies could give their take on info / knowledge about the company.
thks, jayendra
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sajanvm
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Quote sajanvm Replybullet Posted: 29/May/2007 at 5:19pm
Dear jayendra
 
I think Cybermedia could be v interesting if we do a sum of parts valuation for its businesses.  Some of these are JVs , so we need to understand how much cybermedia owns.
 
I am personally bullish on print media (speciality magazines) and own Infomedia . Cybermedia has a good niche and magazines like Dataquest have been around for donkeys years.
 
At 1 time sales, it looks cheap on the surface.
 
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omshivaya
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Quote omshivaya Replybullet Posted: 29/May/2007 at 8:15pm
Jayendra, I dont have an idea on this one. My apologies.
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deveshkayal
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Quote deveshkayal Replybullet Posted: 29/May/2007 at 10:35am
The negative is that their magazines are read only by computer professionals.
"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett
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Quote jstk Replybullet Posted: 31/May/2007 at 10:26am
It may sound too simplistic but i feel one of the problems with this company is the name , there are too many junk Cyber's in the market ( cybertech systmes, cybermate info, cyberscape multimedia , cyberspace , millenium cyber ).
 
It is more a matter of awareness , information & perception.
 
Cybermedia is a pure Media & Media services company .
 
some of its key subsidiaries are:
 
1) Cyber India Online ltd : 91.95% ( www.ciol.com )
this is India's 1st IT focussed website to provide quality information to the IT community ( IT professionals, vendors, CIO's, solution providers & CEO's )
 
this link will provide you with more info :
 
 
2) IDC India ltd : 100% ( www.idcindia.com )
IDC india is the Indian affiliate of IDC worldwide & its currently India's most comprehensive & dependable resource for market research & consultancy in IT, ITES & telecom with a strength of 25 analysts.
 
this link will provide you with more info :
 
 
3) Cybermedia Dice careers ltd : 49%
this is a technology focussed job portal & a JV with Dice, USA which is a leading provider of online recruiting services for IT & engineering
 
this link will provide you with more info :
 
 
4)CyberAstro Ltd : 37.5% ( www.cyberastro.com)
uses the power of the internet to provide advanced personalized astrology services.
 
www.globalservicesmedia.com is a JV with CMP,USA . It is Cybermedia's 1st international foray & a B2B media.
 
The parent company has niche publications mentioned in my previous post. Publishing , as of now is the bread & butter business.
 
 
last year, the online business did a EBITDA of Rs.1.3 cr driven by ad spends & monthly page views of 45 million.
 
this year, for the 9-month period online revenues are up approx 35%
 
The company also provides media BPO services ( content outsourcing & distribution ).
 
some of the businesses are nearing the end of investment phase & expected to contribute positvely from 07-08
 
these may seem too many businesses to be in at fisrt glance, but they are all niche focussed , related & to an extent integrated segments .
 
I feel this company can go places.
 
would be nice if Basantjee could share  his views.
 
jayendra
 
 
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basant
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Quote basant Replybullet Posted: 31/May/2007 at 10:35am
SUre the name sound prohibitory at elast to me before someone told me what this company does.
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Quote sajanvm Replybullet Posted: 31/May/2007 at 11:11am
They are on track to do 15Cr EBITDA this year. This is inspite of BPO being a drag since it is a fledgling business. At 8 times EBITDA, stock is certainly cheap.
There is talk that ICICI Ventures is looking to sell their Infomedia stake. The stock has been hitting the circuit regularly. If the stake sale happens, then Cybermedia will be re-rated/discovered.
 
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Quote basant Replybullet Posted: 31/May/2007 at 11:15am
Sajan: Your NIIT twins are gong bezerk! How would you rate APtech in this space?
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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