# Newspaper — company-by-company sector analysis

> Newspaper: D B Corp Ltd owns the largest revenue base; Sandesh Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-29. Not investment advice.

## Bottom line

The 52-week sector comparison is unavailable. 0 of 3 covered companies currently have positive Mansfield relative strength versus NIFTY 500. D B Corp Ltd leads with revenue of ₹2,399 crore, based on 3 of 3 comparable companies through Jun 2026. Sandesh Ltd has the fastest current revenue growth at 48.8%, across 3 of 3 comparable companies.

### Is the Newspaper sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 0 of 3 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

### Which Newspaper company is largest by revenue?

D B Corp Ltd leads with revenue of ₹2,399 crore, based on 3 of 3 comparable companies through Jun 2026.

### Which Newspaper company is growing fastest?

Sandesh Ltd has the fastest current revenue growth at 48.8%, across 3 of 3 comparable companies.

### Which Newspaper company has the strongest 4-Factor Sector Score?

D B Corp Ltd ranks first at 55.9/100 with 91% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Newspaper company has the least gross debt?

Sandesh Ltd has the lowest comparable gross debt at ₹0 crore. D B Corp Ltd has the highest at ₹262 crore.

### Which Newspaper company has the lowest comparable PEG?

D B Corp Ltd has the lowest comparable Guarded PEG at 0.27, among 1 of 3 companies that pass the metric’s comparability rules.

### How much history does this Newspaper comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

The 52-week comparison of Newspaper against NIFTY 500 is not available from the current market series. 0 of 3 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Jagran Prakashan Ltd is the strongest against the sector itself at +1.8%.

13-week sector return versus NIFTY 500: —
52-week sector return versus NIFTY 500: —
Stocks leading NIFTY: 0/3
Stocks leading sector: 1/3

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 3
Combined market value: ₹5.8K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. D B Corp Ltd (DBCORP): 56/100 — Mixed-positive evidence; evidence 91%
   - Growth & earnings 17.0/35 | Capital efficiency 19.0/25 | Valuation 16.9/20 | Relative strength 3.0/20
   - Exact sum: 17 + 19 + 16.9 + 3 = 55.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Jagran Prakashan Ltd (JAGRAN): 52/100 — Mixed-positive evidence; evidence 72%
   - Growth & earnings 16.8/35 | Capital efficiency 15.6/25 | Valuation 12.7/20 | Relative strength 6.8/20
   - Exact sum: 16.8 + 15.6 + 12.7 + 6.8 = 51.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Sandesh Ltd (SANDESH): 38/100 — Mixed-negative evidence; evidence 74%
   - Growth & earnings 18.0/35 | Capital efficiency 8.4/25 | Valuation 7.2/20 | Relative strength 4.6/20
   - Exact sum: 18 + 8.4 + 7.2 + 4.6 = 38.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Revenue Scale & Growth Durability

What the numbers say: D B Corp Ltd is the scale leader at ₹2,399 crore, 27.9% ahead of Jagran Prakashan Ltd. Sandesh Ltd's growth is 48.8% from a ₹439 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: D B Corp Ltd is the scale benchmark; Sandesh Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: D B Corp Ltd's growth falls below Sandesh Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: D B Corp Ltd · ₹2,399 crore | 27.9% versus #2 · Jagran Prakashan Ltd | 3/8 recent comparable periods | 3/3 companies · 48 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. D B Corp Ltd (DBCORP): ₹2.4K Cr
2. Jagran Prakashan Ltd (JAGRAN): ₹1.9K Cr
3. Sandesh Ltd (SANDESH): ₹439 Cr

### Revenue growth — fastest growers
1. Sandesh Ltd (SANDESH): 49%
2. D B Corp Ltd (DBCORP): 3.9%
3. Jagran Prakashan Ltd (JAGRAN): -0.6%

### 20-quarter Revenue history
- DBCORP: Sep 2021 ₹447 Cr | Dec 2021 ₹546 Cr | Mar 2022 ₹474 Cr | Jun 2022 ₹494 Cr | Sep 2022 ₹538 Cr | Dec 2022 ₹566 Cr | Mar 2023 ₹531 Cr | Jun 2023 ₹554 Cr | Sep 2023 ₹586 Cr | Dec 2023 ₹645 Cr | Mar 2024 ₹617 Cr | Jun 2024 ₹590 Cr | Sep 2024 ₹559 Cr | Dec 2024 ₹643 Cr | Mar 2025 ₹548 Cr | Jun 2025 ₹559 Cr | Sep 2025 ₹614 Cr | Dec 2025 ₹605 Cr | Mar 2026 ₹576 Cr | Jun 2026 ₹604 Cr
- JAGRAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹488 Cr | Mar 2023 ₹459 Cr | Jun 2023 ₹455 Cr | Sep 2023 ₹459 Cr | Dec 2023 ₹511 Cr | Mar 2024 ₹510 Cr | Jun 2024 ₹444 Cr | Sep 2024 ₹447 Cr | Dec 2024 ₹517 Cr | Mar 2025 ₹481 Cr | Jun 2025 ₹460 Cr | Sep 2025 ₹467 Cr | Dec 2025 ₹477 Cr | Mar 2026 ₹472 Cr | Jun 2026 —
- SANDESH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹100 Cr | Mar 2023 ₹77 Cr | Jun 2023 ₹72 Cr | Sep 2023 ₹72 Cr | Dec 2023 ₹91 Cr | Mar 2024 ₹86 Cr | Jun 2024 ₹69 Cr | Sep 2024 ₹71 Cr | Dec 2024 ₹79 Cr | Mar 2025 ₹76 Cr | Jun 2025 ₹73 Cr | Sep 2025 ₹78 Cr | Dec 2025 ₹77 Cr | Mar 2026 ₹211 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- DBCORP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 20% | Dec 2022 3.7% | Mar 2023 12% | Jun 2023 12% | Sep 2023 8.9% | Dec 2023 14% | Mar 2024 16% | Jun 2024 6.5% | Sep 2024 -4.6% | Dec 2024 -0.3% | Mar 2025 -11% | Jun 2025 -5.3% | Sep 2025 9.8% | Dec 2025 -5.9% | Mar 2026 5.1% | Jun 2026 8.1%
- JAGRAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 4.7% | Mar 2024 11% | Jun 2024 -2.3% | Sep 2024 -2.7% | Dec 2024 1.1% | Mar 2025 -5.6% | Jun 2025 3.6% | Sep 2025 4.7% | Dec 2025 -7.7% | Mar 2026 -1.9% | Jun 2026 —
- SANDESH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -9.0% | Mar 2024 12% | Jun 2024 -4.2% | Sep 2024 -1.4% | Dec 2024 -13% | Mar 2025 -12% | Jun 2025 5.8% | Sep 2025 9.9% | Dec 2025 -2.5% | Mar 2026 178% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: D B Corp Ltd leads opm at 23%; Jagran Prakashan Ltd leads margin change at +23.9 percentage points.

Investor read: D B Corp Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: D B Corp Ltd · 23% | 127.7% versus #2 · Jagran Prakashan Ltd | 2/8 recent comparable periods | 3/3 companies · 58 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. D B Corp Ltd (DBCORP): 23%
2. Jagran Prakashan Ltd (JAGRAN): 10%
3. Sandesh Ltd (SANDESH): -17%

### Margin change — fastest expanders
1. Jagran Prakashan Ltd (JAGRAN): +23.9 pp
2. D B Corp Ltd (DBCORP): +3.0 pp
3. Sandesh Ltd (SANDESH): −33.0 pp

### 20-quarter OPM history
- DBCORP: Sep 2021 23% | Dec 2021 26% | Mar 2022 12% | Jun 2022 14% | Sep 2022 16% | Dec 2022 16% | Mar 2023 14% | Jun 2023 21% | Sep 2023 26% | Dec 2023 28% | Mar 2024 28% | Jun 2024 28% | Sep 2024 22% | Dec 2024 28% | Mar 2025 15% | Jun 2025 20% | Sep 2025 22% | Dec 2025 22% | Mar 2026 18% | Jun 2026 23%
- JAGRAN: Sep 2021 25% | Dec 2021 32% | Mar 2022 20% | Jun 2022 17% | Sep 2022 19% | Dec 2022 17% | Mar 2023 1.9% | Jun 2023 15% | Sep 2023 16% | Dec 2023 21% | Mar 2024 5.0% | Jun 2024 15% | Sep 2024 17% | Dec 2024 18% | Mar 2025 -14% | Jun 2025 14% | Sep 2025 14% | Dec 2025 15% | Mar 2026 10% | Jun 2026 —
- SANDESH: Sep 2021 39% | Dec 2021 28% | Mar 2022 13% | Jun 2022 19% | Sep 2022 29% | Dec 2022 34% | Mar 2023 9.0% | Jun 2023 22% | Sep 2023 20% | Dec 2023 28% | Mar 2024 30% | Jun 2024 23% | Sep 2024 22% | Dec 2024 -52% | Mar 2025 16% | Jun 2025 25% | Sep 2025 6.0% | Dec 2025 26% | Mar 2026 -17% | Jun 2026 —

### 20-quarter Margin change history
- DBCORP: Sep 2021 +2.1 pp | Dec 2021 −7.5 pp | Mar 2022 −9.8 pp | Jun 2022 +13.2 pp | Sep 2022 −6.4 pp | Dec 2022 −10.0 pp | Mar 2023 +1.6 pp | Jun 2023 +7.3 pp | Sep 2023 +9.8 pp | Dec 2023 +12.0 pp | Mar 2024 +14.0 pp | Jun 2024 +7.0 pp | Sep 2024 −4.0 pp | Dec 2024 0.0 pp | Mar 2025 −13.0 pp | Jun 2025 −8.0 pp | Sep 2025 0.0 pp | Dec 2025 −6.0 pp | Mar 2026 +3.0 pp | Jun 2026 +3.0 pp
- JAGRAN: Sep 2021 +10.4 pp | Dec 2021 +0.3 pp | Mar 2022 −2.2 pp | Jun 2022 +14.9 pp | Sep 2022 −6.2 pp | Dec 2022 −15.4 pp | Mar 2023 −18.0 pp | Jun 2023 −1.7 pp | Sep 2023 −3.3 pp | Dec 2023 +3.5 pp | Mar 2024 +3.1 pp | Jun 2024 −0.5 pp | Sep 2024 +1.0 pp | Dec 2024 −2.4 pp | Mar 2025 −18.7 pp | Jun 2025 −0.9 pp | Sep 2025 −2.5 pp | Dec 2025 −3.1 pp | Mar 2026 +23.9 pp | Jun 2026 —
- SANDESH: Sep 2021 +1.2 pp | Dec 2021 −0.4 pp | Mar 2022 −13.0 pp | Jun 2022 −4.0 pp | Sep 2022 −9.6 pp | Dec 2022 +5.7 pp | Mar 2023 −4.5 pp | Jun 2023 +3.3 pp | Sep 2023 −9.1 pp | Dec 2023 −6.0 pp | Mar 2024 +21.0 pp | Jun 2024 +1.0 pp | Sep 2024 +2.0 pp | Dec 2024 −80.0 pp | Mar 2025 −14.0 pp | Jun 2025 +2.0 pp | Sep 2025 −16.0 pp | Dec 2025 +78.0 pp | Mar 2026 −33.0 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: D B Corp Ltd leads with ₹352 crore of TTM profit, 90.4% above Jagran Prakashan Ltd. D B Corp Ltd shows 5.4% growth from a ₹352 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: D B Corp Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: D B Corp Ltd · ₹352 crore | 90.4% versus #2 · Jagran Prakashan Ltd | 3/8 recent comparable periods | 3/3 companies · 48 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. D B Corp Ltd (DBCORP): ₹352 Cr
2. Jagran Prakashan Ltd (JAGRAN): ₹185 Cr
3. Sandesh Ltd (SANDESH): ₹65 Cr

### Profit growth — fastest growers
1. D B Corp Ltd (DBCORP): 5.4%
2. Sandesh Ltd (SANDESH): -15%

### 20-quarter Net profit history
- DBCORP: Sep 2021 ₹54 Cr | Dec 2021 ₹87 Cr | Mar 2022 ₹25 Cr | Jun 2022 ₹31 Cr | Sep 2022 ₹49 Cr | Dec 2022 ₹48 Cr | Mar 2023 ₹41 Cr | Jun 2023 ₹79 Cr | Sep 2023 ₹100 Cr | Dec 2023 ₹124 Cr | Mar 2024 ₹123 Cr | Jun 2024 ₹118 Cr | Sep 2024 ₹83 Cr | Dec 2024 ₹118 Cr | Mar 2025 ₹52 Cr | Jun 2025 ₹81 Cr | Sep 2025 ₹93 Cr | Dec 2025 ₹96 Cr | Mar 2026 ₹62 Cr | Jun 2026 ₹101 Cr
- JAGRAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹82 Cr | Mar 2023 ₹23 Cr | Jun 2023 ₹44 Cr | Sep 2023 ₹42 Cr | Dec 2023 ₹73 Cr | Mar 2024 ₹6 Cr | Jun 2024 ₹41 Cr | Sep 2024 ₹42 Cr | Dec 2024 ₹63 Cr | Mar 2025 ₹-51 Cr | Jun 2025 ₹67 Cr | Sep 2025 ₹57 Cr | Dec 2025 ₹55 Cr | Mar 2026 ₹6 Cr | Jun 2026 —
- SANDESH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹33 Cr | Mar 2023 ₹11 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹58 Cr | Mar 2024 ₹72 Cr | Jun 2024 ₹50 Cr | Sep 2024 ₹38 Cr | Dec 2024 ₹-21 Cr | Mar 2025 ₹9 Cr | Jun 2025 ₹58 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹38 Cr | Mar 2026 ₹-35 Cr | Jun 2026 —

### 20-quarter Profit growth history
- DBCORP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -9.3% | Dec 2022 -45% | Mar 2023 64% | Jun 2023 155% | Sep 2023 104% | Dec 2023 158% | Mar 2024 200% | Jun 2024 49% | Sep 2024 -17% | Dec 2024 -4.8% | Mar 2025 -58% | Jun 2025 -31% | Sep 2025 12% | Dec 2025 -19% | Mar 2026 19% | Jun 2026 25%
- JAGRAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -10% | Mar 2024 -74% | Jun 2024 -6.5% | Sep 2024 0.3% | Dec 2024 -15% | Mar 2025 -955% | Jun 2025 63% | Sep 2025 37% | Dec 2025 -12% | Mar 2026 — | Jun 2026 —
- SANDESH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 76% | Mar 2024 555% | Jun 2024 52% | Sep 2024 46% | Dec 2024 -136% | Mar 2025 -88% | Jun 2025 16% | Sep 2025 -89% | Dec 2025 — | Mar 2026 -489% | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: There is not enough comparable evidence to name a reliable capex leader.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/3 companies · 0 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders

### CAPEX intensity — highest reinvestment intensity

### 20-quarter CAPEX history

### 20-quarter CAPEX intensity history

## Debt Load & Balance-Sheet Headroom

What the numbers say: Jagran Prakashan Ltd has the clearest covered balance-sheet capacity with ₹767 crore net cash and gross debt of ₹110 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Sandesh Ltd · ₹0 crore | 100% versus #2 · Jagran Prakashan Ltd | 6/6 recent comparable periods | 3/3 companies · 50 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Sandesh Ltd (SANDESH): ₹0 Cr
2. Jagran Prakashan Ltd (JAGRAN): ₹110 Cr
3. D B Corp Ltd (DBCORP): ₹262 Cr

### Net debt — lowest net debt
1. Jagran Prakashan Ltd (JAGRAN): ₹-767 Cr
2. D B Corp Ltd (DBCORP): ₹-674 Cr
3. Sandesh Ltd (SANDESH): ₹-408 Cr

### 20-quarter Gross debt history
- DBCORP: Sep 2021 ₹231 Cr | Dec 2021 ₹231 Cr | Mar 2022 ₹199 Cr | Jun 2022 ₹199 Cr | Sep 2022 ₹202 Cr | Dec 2022 ₹202 Cr | Mar 2023 ₹213 Cr | Jun 2023 ₹213 Cr | Sep 2023 ₹276 Cr | Dec 2023 ₹276 Cr | Mar 2024 ₹253 Cr | Jun 2024 ₹253 Cr | Sep 2024 ₹269 Cr | Dec 2024 ₹269 Cr | Mar 2025 ₹283 Cr | Jun 2025 ₹283 Cr | Sep 2025 ₹291 Cr | Dec 2025 ₹291 Cr | Mar 2026 ₹262 Cr | Jun 2026 ₹262 Cr
- JAGRAN: Sep 2021 ₹321 Cr | Dec 2021 ₹321 Cr | Mar 2022 ₹352 Cr | Jun 2022 ₹353 Cr | Sep 2022 ₹364 Cr | Dec 2022 ₹364 Cr | Mar 2023 ₹443 Cr | Jun 2023 ₹444 Cr | Sep 2023 ₹268 Cr | Dec 2023 ₹268 Cr | Mar 2024 ₹247 Cr | Jun 2024 ₹247 Cr | Sep 2024 ₹204 Cr | Dec 2024 ₹204 Cr | Mar 2025 ₹186 Cr | Jun 2025 ₹186 Cr | Sep 2025 ₹198 Cr | Dec 2025 ₹198 Cr | Mar 2026 ₹110 Cr | Jun 2026 —
- SANDESH: Sep 2021 ₹0 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹0 Cr | Jun 2025 — | Sep 2025 ₹0 Cr | Dec 2025 — | Mar 2026 ₹0 Cr | Jun 2026 —

### 20-quarter Net debt history
- DBCORP: Sep 2021 ₹-106 Cr | Dec 2021 ₹-106 Cr | Mar 2022 ₹-318 Cr | Jun 2022 ₹-318 Cr | Sep 2022 ₹-28 Cr | Dec 2022 ₹-28 Cr | Mar 2023 ₹15 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹16 Cr | Dec 2023 ₹16 Cr | Mar 2024 ₹-354 Cr | Jun 2024 ₹-354 Cr | Sep 2024 ₹-555 Cr | Dec 2024 ₹-555 Cr | Mar 2025 ₹-784 Cr | Jun 2025 ₹-785 Cr | Sep 2025 ₹-600 Cr | Dec 2025 ₹-600 Cr | Mar 2026 ₹-674 Cr | Jun 2026 ₹-674 Cr
- JAGRAN: Sep 2021 ₹4 Cr | Dec 2021 ₹4 Cr | Mar 2022 ₹70 Cr | Jun 2022 ₹70 Cr | Sep 2022 ₹26 Cr | Dec 2022 ₹26 Cr | Mar 2023 ₹-53 Cr | Jun 2023 ₹-53 Cr | Sep 2023 ₹-71 Cr | Dec 2023 ₹-71 Cr | Mar 2024 ₹-267 Cr | Jun 2024 ₹-252 Cr | Sep 2024 ₹-457 Cr | Dec 2024 ₹-457 Cr | Mar 2025 ₹-666 Cr | Jun 2025 ₹-648 Cr | Sep 2025 ₹-600 Cr | Dec 2025 ₹-600 Cr | Mar 2026 ₹-767 Cr | Jun 2026 —
- SANDESH: Sep 2021 ₹-307 Cr | Dec 2021 ₹-307 Cr | Mar 2022 ₹-292 Cr | Jun 2022 ₹-292 Cr | Sep 2022 ₹-408 Cr | Dec 2022 ₹-408 Cr | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Return On Capital Employed

What the numbers say: D B Corp Ltd leads ROCE at 18.2%, 5.4 percentage points above Jagran Prakashan Ltd. Sandesh Ltd has the strongest latest improvement at +4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: D B Corp Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: D B Corp Ltd · 18.2% | 42.2% versus #2 · Jagran Prakashan Ltd | 3/8 recent comparable periods | 3/3 companies · 46 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. D B Corp Ltd (DBCORP): 18%
2. Jagran Prakashan Ltd (JAGRAN): 13%
3. Sandesh Ltd (SANDESH): 7.0%

### ROCE change — fastest improvers
1. Sandesh Ltd (SANDESH): +4.0 pp
2. D B Corp Ltd (DBCORP): +0.1 pp
3. Jagran Prakashan Ltd (JAGRAN): −1.0 pp

### 20-quarter ROCE history
- DBCORP: Sep 2021 13% | Dec 2021 — | Mar 2022 9.5% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 10% | Jun 2023 — | Sep 2023 14% | Dec 2023 22% | Mar 2024 21% | Jun 2024 27% | Sep 2024 22% | Dec 2024 26% | Mar 2025 18% | Jun 2025 19% | Sep 2025 16% | Dec 2025 18% | Mar 2026 14% | Jun 2026 19%
- JAGRAN: Sep 2021 7.8% | Dec 2021 — | Mar 2022 8.6% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 9.7% | Jun 2023 — | Sep 2023 8.7% | Dec 2023 11% | Mar 2024 11% | Jun 2024 11% | Sep 2024 11% | Dec 2024 11% | Mar 2025 8.2% | Jun 2025 8.7% | Sep 2025 8.7% | Dec 2025 8.4% | Mar 2026 7.2% | Jun 2026 —
- SANDESH: Sep 2021 13% | Dec 2021 — | Mar 2022 10% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 12% | Jun 2023 — | Sep 2023 12% | Dec 2023 15% | Mar 2024 19% | Jun 2024 22% | Sep 2024 20% | Dec 2024 14% | Mar 2025 7.1% | Jun 2025 7.8% | Sep 2025 5.3% | Dec 2025 9.7% | Mar 2026 11% | Jun 2026 —

### 20-quarter ROCE change history
- DBCORP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 — | Mar 2023 +0.8 pp | Jun 2023 — | Sep 2023 +2.2 pp | Dec 2023 — | Mar 2024 +10.5 pp | Jun 2024 — | Sep 2024 +7.7 pp | Dec 2024 +3.9 pp | Mar 2025 −2.8 pp | Jun 2025 −8.5 pp | Sep 2025 −6.0 pp | Dec 2025 −7.6 pp | Mar 2026 −4.0 pp | Jun 2026 +0.1 pp
- JAGRAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.7 pp | Dec 2022 — | Mar 2023 +1.1 pp | Jun 2023 — | Sep 2023 −2.8 pp | Dec 2023 — | Mar 2024 +1.3 pp | Jun 2024 — | Sep 2024 +2.0 pp | Dec 2024 −0.3 pp | Mar 2025 −2.8 pp | Jun 2025 −2.1 pp | Sep 2025 −2.0 pp | Dec 2025 −2.2 pp | Mar 2026 −1.0 pp | Jun 2026 —
- SANDESH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.7 pp | Dec 2022 — | Mar 2023 +1.8 pp | Jun 2023 — | Sep 2023 −0.2 pp | Dec 2023 — | Mar 2024 +6.6 pp | Jun 2024 — | Sep 2024 +8.7 pp | Dec 2024 −1.5 pp | Mar 2025 −11.5 pp | Jun 2025 −14.3 pp | Sep 2025 −15.1 pp | Dec 2025 −4.1 pp | Mar 2026 +4.0 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: D B Corp Ltd has the lowest comparable Guarded PEG at 0.27×. Only 1 of 3 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: D B Corp Ltd · 0.27× | Not enough peers | 0/8 recent comparable periods | 1/3 companies · 5 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. D B Corp Ltd (DBCORP): 0.3

### P/E — lowest P/E
1. Jagran Prakashan Ltd (JAGRAN): 7.0
2. D B Corp Ltd (DBCORP): 10.6
3. Sandesh Ltd (SANDESH): 11.0

### 20-quarter Guarded PEG history
- DBCORP: Sep 2021 0.6 | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.5 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 2.1 | Dec 2023 0.5 | Mar 2024 — | Jun 2024 0.3 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- DBCORP: Sep 2021 10.5 | Dec 2021 8.9 | Mar 2022 8.9 | Jun 2022 9.2 | Sep 2022 11.1 | Dec 2022 11.4 | Mar 2023 11.3 | Jun 2023 14.8 | Sep 2023 21.0 | Dec 2023 17.7 | Mar 2024 13.6 | Jun 2024 13.3 | Sep 2024 12.9 | Dec 2024 12.1 | Mar 2025 9.3 | Jun 2025 13.2 | Sep 2025 14.2 | Dec 2025 13.4 | Mar 2026 10.8 | Jun 2026 10.7
- JAGRAN: Sep 2021 12.8 | Dec 2021 9.4 | Mar 2022 8.5 | Jun 2022 5.9 | Sep 2022 6.5 | Dec 2022 7.7 | Mar 2023 9.6 | Jun 2023 12.0 | Sep 2023 14.4 | Dec 2023 13.6 | Mar 2024 12.3 | Jun 2024 10.6 | Sep 2024 11.3 | Dec 2024 10.0 | Mar 2025 8.8 | Jun 2025 11.9 | Sep 2025 9.8 | Dec 2025 9.0 | Mar 2026 8.1 | Jun 2026 —
- SANDESH: Sep 2021 6.1 | Dec 2021 5.8 | Mar 2022 6.8 | Jun 2022 5.8 | Sep 2022 6.6 | Dec 2022 8.7 | Mar 2023 6.2 | Jun 2023 6.9 | Sep 2023 6.4 | Dec 2023 8.2 | Mar 2024 7.0 | Jun 2024 6.2 | Sep 2024 6.7 | Dec 2024 5.7 | Mar 2025 5.9 | Jun 2025 11.4 | Sep 2025 10.6 | Dec 2025 16.1 | Mar 2026 6.0 | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: Sandesh Ltd leads both ev/ebitda at 4.2× and p/bv at 0.52×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Sandesh Ltd · 4.2× | 17.6% versus #2 · D B Corp Ltd | 0/8 recent comparable periods | 3/3 companies · 58 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Sandesh Ltd (SANDESH): 4.2
2. D B Corp Ltd (DBCORP): 5.1
3. Jagran Prakashan Ltd (JAGRAN): 5.2

### P/BV — lowest P/BV
1. Sandesh Ltd (SANDESH): 0.5
2. Jagran Prakashan Ltd (JAGRAN): 0.7
3. D B Corp Ltd (DBCORP): 1.5

### 20-quarter EV/EBITDA history
- DBCORP: Sep 2021 4.5 | Dec 2021 4.0 | Mar 2022 3.9 | Jun 2022 3.9 | Sep 2022 5.5 | Dec 2022 5.7 | Mar 2023 4.2 | Jun 2023 6.1 | Sep 2023 10.9 | Dec 2023 9.8 | Mar 2024 8.0 | Jun 2024 8.1 | Sep 2024 7.5 | Dec 2024 6.7 | Mar 2025 5.0 | Jun 2025 7.3 | Sep 2025 7.0 | Dec 2025 7.0 | Mar 2026 5.3 | Jun 2026 5.1
- JAGRAN: Sep 2021 5.5 | Dec 2021 4.8 | Mar 2022 4.6 | Jun 2022 3.5 | Sep 2022 4.0 | Dec 2022 4.5 | Mar 2023 5.3 | Jun 2023 5.2 | Sep 2023 7.1 | Dec 2023 6.5 | Mar 2024 6.5 | Jun 2024 6.7 | Sep 2024 5.8 | Dec 2024 4.9 | Mar 2025 4.2 | Jun 2025 5.5 | Sep 2025 5.3 | Dec 2025 5.6 | Mar 2026 5.2 | Jun 2026 —
- SANDESH: Sep 2021 4.5 | Dec 2021 3.7 | Mar 2022 4.1 | Jun 2022 4.0 | Sep 2022 4.3 | Dec 2022 6.1 | Mar 2023 4.1 | Jun 2023 4.5 | Sep 2023 4.5 | Dec 2023 5.6 | Mar 2024 4.9 | Jun 2024 4.6 | Sep 2024 4.9 | Dec 2024 4.1 | Mar 2025 4.3 | Jun 2025 7.7 | Sep 2025 7.6 | Dec 2025 7.6 | Mar 2026 4.2 | Jun 2026 —

### 20-quarter P/BV history
- DBCORP: Sep 2021 0.9 | Dec 2021 0.9 | Mar 2022 0.8 | Jun 2022 0.7 | Sep 2022 1.2 | Dec 2022 1.2 | Mar 2023 0.9 | Jun 2023 1.3 | Sep 2023 2.3 | Dec 2023 2.4 | Mar 2024 2.3 | Jun 2024 2.9 | Sep 2024 2.7 | Dec 2024 2.5 | Mar 2025 1.9 | Jun 2025 2.2 | Sep 2025 2.1 | Dec 2025 2.0 | Mar 2026 1.5 | Jun 2026 1.5
- JAGRAN: Sep 2021 0.8 | Dec 2021 0.8 | Mar 2022 0.9 | Jun 2022 0.7 | Sep 2022 0.8 | Dec 2022 0.9 | Mar 2023 0.9 | Jun 2023 1.0 | Sep 2023 1.5 | Dec 2023 1.1 | Mar 2024 1.2 | Jun 2024 1.4 | Sep 2024 1.1 | Dec 2024 0.9 | Mar 2025 0.8 | Jun 2025 0.8 | Sep 2025 0.8 | Dec 2025 0.8 | Mar 2026 0.7 | Jun 2026 —
- SANDESH: Sep 2021 0.7 | Dec 2021 0.6 | Mar 2022 0.6 | Jun 2022 0.6 | Sep 2022 0.6 | Dec 2022 0.9 | Mar 2023 0.8 | Jun 2023 0.7 | Sep 2023 0.7 | Dec 2023 0.8 | Mar 2024 0.8 | Jun 2024 1.1 | Sep 2024 1.1 | Dec 2024 0.9 | Mar 2025 0.6 | Jun 2025 0.7 | Sep 2025 0.7 | Dec 2025 0.6 | Mar 2026 0.5 | Jun 2026 —

## Market action

Jagran Prakashan Ltd has the strongest one-year price move in Newspaper at -15.5%. It also leads on Mansfield relative strength against NIFTY at -8.4%. 0 of 3 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

### Strongest one-year price performers
1. Jagran Prakashan Ltd (JAGRAN): -16%
2. Sandesh Ltd (SANDESH): -16%
3. D B Corp Ltd (DBCORP): -24%

### Strongest relative strength versus NIFTY 500
1. Jagran Prakashan Ltd (JAGRAN): -8.4%
2. Sandesh Ltd (SANDESH): -10%
3. D B Corp Ltd (DBCORP): -11%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 2 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- Thin comparisons: Capital expenditure, Valuation have fewer than three usable current readings.

## Every company
- D B Corp Ltd (DBCORP) — market value ₹3.7K Cr; latest fundamentals Jun 2026
- Jagran Prakashan Ltd (JAGRAN) — market value ₹1.4K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Sandesh Ltd (SANDESH) — market value ₹741 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures

## Source standing of each company

Cross-checked: 1. Unverified: 2. Withheld: 0. Graded companies: 3.

2 of 3 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

- UNVERIFIED | JAGRAN | Jagran Prakashan Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | SANDESH | Sandesh Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-24.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### What is the Nifty Newspaper index?

The Nifty Newspaper index tracks India's listed Newspaper companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Newspaper sector rather than to its largest constituent. Figures are as of Jun 2026.

### Which are the best Newspaper stocks in India?

Ranked by this page's four-factor score, D B Corp Ltd places first among 3 listed Newspaper companies, followed by Jagran Prakashan Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Newspaper stocks are listed in India?

This comparison covers 3 listed Newspaper companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Newspaper company is the biggest?

D B Corp Ltd is the largest, with trailing-twelve-month revenue of ₹2,399 crore, ahead of Jagran Prakashan Ltd at ₹1,876 crore. That covers 3 of 3 companies with comparable reporting through Jun 2026.

### Which Newspaper company is growing fastest?

Sandesh Ltd has the fastest revenue growth at 48.8% year on year, across 3 of 3 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Newspaper company has the best profit margins?

D B Corp Ltd has the highest operating margin at 23%, from 3 of 3 comparable companies. Jagran Prakashan Ltd shows the biggest recent improvement, at +23.9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Newspaper company makes the most profit?

D B Corp Ltd earns the most, at ₹352 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. D B Corp Ltd has the fastest profit growth at 5.4%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Newspaper company earns the highest return on capital?

D B Corp Ltd leads on return on capital employed at 18.2%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Newspaper stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — D B Corp Ltd screens cheapest at 0.27×. Only 1 of 3 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Newspaper company has the strongest balance sheet?

Sandesh Ltd carries the lowest comparable gross debt at ₹0 crore, from 3 of 3 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Newspaper stock has the strongest price momentum?

Jagran Prakashan Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Newspaper company scores highest for research priority?

D B Corp Ltd scores 55.9 out of 100 with 91% evidence confidence, from 17 points on growth and earnings, 19 on capital efficiency, 16.9 on valuation and 3 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Newspaper companies does this comparison cover, and over what period?

It compares 3 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Newspaper sector?

The 3 Newspaper companies on this page carry ₹5,830 crore of combined market value. D B Corp Ltd is the largest at ₹3,721 crore, about 64% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

### How is the Newspaper sector performing?

0 of the 3 covered Newspaper companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/newspaper