Jagran Prakashan Updates on Ongoing NCLT Proceedings

Jagran Prakashan Limited (JPL), one of India's leading media conglomerates, has disclosed updates on two ongoing cases before the National Company Law Tribunal (NCLT) in Allahabad. These cases involve petitions filed under Sections 241, 242, and 244 of the Companies Act, 2013, by certain promoter and promoter group members against other promoters and promoter group members of the company.

Key Developments in NCLT Proceedings

C.P. No. 64 of 2023 (Mahendra Mohan Gupta and Others v. Devendra Mohan Gupta and Others):

Senior counsel continued final submissions on behalf of Respondents No. 2 and 5.
The next hearing is scheduled for December 1, 2025.

C.P. No. 57 of 2025 (Shailendra Mohan Gupta and Others v. Jagran Media Network Investment Private Limited and Others):

The NCLT has directed respondents to file their reply before the next hearing date.
This matter is also scheduled for further hearing on December 1, 2025.

Both cases are set to be heard at 3:00 PM on the scheduled date.

Company's Stance and Future Updates

Jagran Prakashan has stated that it will provide updates only when there are material developments in the proceedings. The company's management currently does not expect any adverse impact of these matters on its financial position as of September 30, 2025, or on its future operations.

Background of the Litigation

The litigation began on July 10, 2023, when Mr. Mahendra Mohan Gupta (Non-Executive Chairman and Promoter) and Mr. Shailesh Gupta (Whole-Time Director and member of the Promoter group) filed a petition against other Promoters and Promoter Group members. During the current quarter, Shailendra Mohan Gupta (Non-Executive Director and Promoter Group member) filed a similar petition.

Management Changes

It's worth noting that Mr. Mahendra Mohan Gupta's term as managing director of the company concluded on September 30, 2023. As of now, Jagran Prakashan does not have a managing director.

Financial Implications

While the litigation is ongoing, Jagran Prakashan's financial results for Q2FY26 show resilience:

Financial Metric	Q2FY26 (₹ in crores)	Q2FY25 (₹ in crores)	YoY Change
Operating Revenue	467.36	446.51	+4.7%
Operating Profit	66.58	67.53	-1.4%
Profit Before Tax	71.14	62.34	+14.1%
Profit After Tax	56.94	41.65	+36.7%

The company's financial performance demonstrates its ability to maintain operations and growth despite the ongoing legal proceedings.

As the NCLT cases progress, stakeholders will be watching closely for any developments that could impact Jagran Prakashan's corporate governance structure or operational dynamics. The company's commitment to providing updates on material developments suggests a transparent approach to addressing these legal challenges.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.34%	-2.86%	-2.27%	+0.24%	-20.14%	+90.55%

Jagran Prakashan Limited (JPL), one of India's leading media conglomerates, has reported significant growth in both standalone and consolidated profits for the second quarter of fiscal year 2026, despite facing challenges in its operating margins.

Financial Highlights

For the quarter ended September 30, 2025, JPL posted the following results:

Standalone Results:

Metric	Q2 FY26	Q2 FY25	YoY Change
Operating Revenue	₹413.77	₹375.76	+10.1%
Profit After Tax	₹61.73	₹47.37	+30.3%
Earnings Per Share	₹2.83	₹2.18	+30%

Consolidated Results:

Metric	Q2 FY26	Q2 FY25	YoY Change
Operating Revenue	₹467.36	₹446.38	+4.7%
Profit After Tax	₹56.94	₹41.65	+36.7%
EBITDA	₹66.60	₹67.50	-1.3%
EBITDA Margin	14.25%	15.12%	-87 bps

Revenue Growth and Profit Surge

On a standalone basis, JPL's operating revenue increased by 10.1% year-on-year, rising from ₹375.76 crores to ₹413.77 crores. The company's standalone profit after tax saw a significant jump of 30.3%, reaching ₹61.73 crores compared to ₹47.37 crores in the same quarter last year.

Consolidated results showed a more modest revenue growth of 4.7%, with operating revenue increasing from ₹446.38 crores to ₹467.36 crores. However, the consolidated profit after tax surged by 36.7%, rising to ₹56.94 crores from ₹41.65 crores in Q2 FY25.

Segment Performance

JPL's diverse portfolio includes print media, digital platforms, radio broadcasting, and outdoor advertising. Key segment highlights include:

Advertisement revenues grew by 12.9% to ₹276.15 crores
Circulation revenues slightly declined to ₹78.43 crores from ₹79.87 crores
Digital revenue remained flat at ₹20.27 crores

EBITDA and Margin Pressure

While JPL managed to significantly boost its bottom line, the company faced some pressure on its operational efficiency. The consolidated EBITDA for Q2 FY26 declined marginally to ₹66.60 crores from ₹67.50 crores in the corresponding quarter of the previous year, marking a 1.3% decrease.

More notably, the EBITDA margin compressed by 87 basis points, falling from 15.12% in Q2 FY25 to 14.25% in the current quarter. This contraction in margin suggests that the company may be facing some challenges in managing its operational costs relative to revenue growth.

Half-Year Performance

For the half-year period:

Standalone operating revenues increased 8.8% to ₹811.90 crores
Standalone PAT jumped 45.7% to ₹133.07 crores
The company received ₹31.80 crores from maturity proceeds of a Key man policy

Looking Ahead

The substantial increase in net profit, both on standalone and consolidated bases, despite margin pressures, may indicate effective cost management and potentially lower interest or tax outgo. However, the company may need to focus on improving operational efficiency to address the declining EBITDA margins in the coming quarters.

As Jagran Prakashan continues to navigate the evolving media landscape, its ability to maintain profit growth while addressing operational challenges will be crucial for sustained performance. The company's diverse portfolio, including its flagship publication Dainik Jagran, positions it well to capitalize on various revenue streams in the media sector.