Financials

FY-2015: Technicolor reports improved numbers

Published

10 years ago

February 22, 2016

BENGALURU: Technicolor revenues increased 12 per cent at current currency and 4.7 per cent at constant currency for the year ended 31 December, 2015 (current year, FY-2015). The company says that its growth reflects growth across the Entertainment Services and Technology segments and broadly stable Connected Home revenues. Technicolor revenue for the current year was €3,652 million as compared to €3,332 million in FY-2014.

Technicolor CEO Frederic Rose said, “In 2015, our teams closed successfully, and in parallel, a number of large acquisitions, while remaining focused on delivering a very strong free cash flow. Moving forward, Technicolor is a much more balanced company built on three leading operating businesses and a core licensing business underpinning our material upgrade of Drive 2020 objectives.”

Adjusted EBITDA from continuing operations reached €565 million in FY-2015, up 3.1 per cent at constant currency compared to 2014, representing a margin of 15.5 per cent, down by one point year-on-year (YoY). Technicolor says that the adjusted EBITDA increase reflected a solid Licensing revenue performance, combined with strong organic growth in Production Services, partially offset by a weak DVD Services performance in the first half, the impact of unfavourable € versus US$ exchange rate fluctuations on procurements for Connected Home in the second half, as well as a lower contribution from exited activities.

Segment performance

Connected Homes

Connected Homes segment revenues totalled €1,451 million in FY-2015, up five per cent at current currency and, and up 0.3 per cent as compared to the reported €1,382 million in FY-2014. Excluding Cisco Connected Devices (CCD), revenue declined 1.2 per cent as reported and declined 5.7 per cent at constant currency in FY-2015 to €1,3,65 million as compared to $1,382 million in the previous fiscal.

Technicolor says that even without the contribution of CCD, Connected Home continued to outpace the global CPE market despite adverse business conditions experienced in some regions, driven by a number of new awards and customer wins, including high-end products. The segment achieved in particular a sustained performance in Europe, Middle-East & Africa and Asia-Pacific, both regions reporting a double digit YoY growth in revenues, benefiting notably from a mix improvement associated with the introduction of new products and a further ramp up in the value chain. Connected Home faced however lower levels of activity in both North and Latin America, primarily reflecting cautious customer approach towards product orders and inventory management, due to pending industry consolidation in the US and unfavourable macroeconomic conditions in Brazil.

Adjusted EBITDA reached €76 million in FY-2015 compared to €77 million in FY-2014, with a negative forex impact of €6 million. At constant currency, adjusted EBITDA was €82 million, up by 5.8 per cent compared to 2014, with a margin of 5.9 per cent, up by 0.3 point YoY.

Entertainment Services

Entertainment Services revenue, excluding exited activities, was €1,639 million, up 10 per cent YoY in FY-2015 at constant currency, resulting from strong organic growth, the contribution from recent acquisitions in Production Services and solid revenues recorded by DVD Services.

Production Services recorded a strong double-digit increase in revenues in FY-2015 compared to FY-2014 says Technicolor. Revenues expanded by almost 40 per cent YoY at constant currency, as a result of a strong double digit organic revenue growth, mostly due to a record level of activity in Visual Effects for feature films, and the additions of Mr. X, OuiDo Productions, Mikros Images and The Mill.

The company says that VFX for commercials and Animation activities also recorded higher revenues, resulting from increased levels of activity across facilities, while Postproduction revenues improved year-on-year.

Technicolor provided VFX and/or Postproduction services to 10 of the top-16 grossing films of the year worldwide, including some of the best box office performers such as Furious 7 (Universal), Avengers: Age of Ultron (Disney), Spectre (Sony) and The Hunger Games: Mockingjay – Part 2 (Lionsgate).

DVD Services revenues were generally stable at constant currency in FY-2015 compared to FY-2014, driven by resilient total Standard Definition DVD, Blu-ray and CD disc volumes, which were down less than one per cent YoY, reflecting a marked improvement compared to the 11 per cent volume decline recorded in FY-2014. Blu-ray disc volumes were up by eight per cent in FY-2015 compared to FY-2014, supported by the aforementioned factors and the ongoing growth in Xbox One games volumes, while Standard-Definition discs declined by five per cent YoY. Overall FY-2015 volume trends in Europe continued to be generally better than in North America, mostly due to regionally specific promotional activity for selected studio customers, as well as to the ongoing adoption of Blu-ray in this region (as compared to the more mature and stable US Blu-ray market).

Total Games volumes declined by 11 per cent YoY, with ongoing erosion in prior generation video game console demand outpacing growth for the current generation Xbox One platform. Going forward, prior generation video games volumes have now reached an immaterial level and should not influence future trends to the same degree.

Excluding exited activities, Adjusted EBITDA was €190 million, down 2.1 per cent at constant currency YoY, as the stronger Production Services contribution was almost fully offset by lower DVD Services performance. However, the free cash flow generation in DVD Services was stable year-over-year notwithstanding the adjusted EBITDA decline says the company.

Technology

Technology revenues excluding M-GO, which was sold in early January 2016 to Fandango, a business unit of NBCUniversal, amounted to €490 million, up 3.3 per cent year-over-year at constant currency, primarily driven by higher revenues from the MPEG LA pool, which represented 59 per cent of total Licensing revenues in FY-2015 compared to 45 per cent in FY-2014. The Group’s direct licensing programs recorded a solid performance in the first half, particularly for Digital TV, which benefited from the strong level of new contracts and contract renewals in the course of 2014. In the second half, direct licensing programs posted a lower performance as the Group did not sign any major contract renewal or new contract as some ongoing discussions with manufacturers were delayed to leverage the joint licensing program with Sony in Digital TV (DTV) and Computer Display Monitor (CDM) that was announced in September.

Excluding M-GO, Adjusted EBITDA reached €389 million, up 3.4 per cent at constant currency year-on-year, driven by the strong contribution of the MPEG LA patent pool.

Related Topics:Avengers: Age of Ultron Disney Frederic Rose Furious 7 Mikros Images Mr. X OuiDO Productions Technicolor The Mill Universal

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Brands

Page Industries posts steady Q3 growth, declares Rs 125 interim dividend

Published

4 days ago

February 5, 2026

indiantelevision.com Team

MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.

The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.

However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.

Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.

For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.

Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.

Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.

Brands

Hitachi Energy plugs into profit as revenues surge in Q3 FY26

Published

4 days ago

February 5, 2026

indiantelevision.com Team

MUMBAI: Power flows may ebb and surge, but Hitachi Energy India Limited clearly had the current on its side in the December quarter. The energy and power technology major reported a sharp jump in profitability for Q3 FY26, riding strong revenue growth and improved operating margins, even as fresh order inflows moderated from last year’s highs.

For the quarter ended December 31, 2025, Hitachi Energy India posted revenue from operations of Rs 2,168 crore, up 29.6 percent year on year from Rs 1,672 crore in Q3 FY25 and 13.2 percent sequentially from Rs 1,915 crore in Q2 FY26. Including other income, total income for the quarter stood at Rs 2,168 crore, reflecting sustained execution momentum across projects and services.

Profitability surged far faster than topline growth. Profit before tax, before exceptional items, more than doubled to Rs 402 crore, compared with Rs 184 crore a year earlier. After accounting for an exceptional charge of Rs 54 crore linked to the impact of new labour codes, profit before tax came in at Rs 348 crore, still up nearly 89 percent year on year. Net profit for the quarter rose 90.3 percent to Rs 261 crore, compared with Rs 137 crore in the same period last year, even as it remained largely flat sequentially.

Margins told an equally strong story. PBT margin expanded to 16.0 percent in Q3 FY26 from 11.0 percent a year earlier, while profit after tax margin improved to 12.1 percent from 8.2 percent. Operating EBITDA jumped 100.4 percent year on year to Rs 338 crore, with margins expanding to 15.6 percent, signalling tighter cost control and operating leverage.

On a nine-month basis, revenue for the period ended December 31, 2025 rose to Rs 5,604 crore, up from Rs 4,520 crore in the corresponding period last year. Profit before tax for the nine months surged to Rs 878 crore, more than three times the Rs 270 crore reported a year earlier, while net profit climbed to Rs 657 crore, compared with Rs 200 crore in the previous period.

The only soft patch came on the order book. New orders in Q3 FY26 stood at Rs 2,478 crore, sharply lower than Rs 11,594 crore in Q3 FY25, when the company had benefited from a large one-off order win. Excluding that outsized contract, management noted that orders actually grew 73.7 percent year on year, underlining steady underlying demand. Sequentially, orders rose 11.7 percent from Rs 2,217 crore in Q2 FY26. For the nine months, total orders edged up to Rs 16,034 crore, broadly in line with Rs 15,983 crore a year earlier.

With revenues accelerating, margins widening and execution staying on track, Hitachi Energy India’s Q3 numbers suggest that while headline order comparisons may flicker, the business is firmly switched on when it comes to profits.

Brands

Tata Motors posts Q3 loss as JLR cyber incident hits results

Published

4 days ago

February 5, 2026

indiantelevision.com Team

MUMBAI: Tata Motors Passenger Vehicles Limited (TMPVL) had a quarter of two very different moods. Back home, the showrooms were busy, the order books thick, and the festive glow lingered. Overseas, however, a cyber incident at Jaguar Land Rover pulled the plug on profits and dragged the group into the red.

For the third quarter of FY2026, Tata Motors posted a consolidated net loss of Rs 3,483 crore. A year ago, it had reported a profit of Rs 5,485 crore. Revenue also slipped sharply, down 25.8 per cent year on year to Rs 70,108 crore. Earnings before interest and tax fell into negative territory, with margins dropping to minus 4.7 per cent.

Strip away exceptional items and the picture still looked bruised. Profit before tax stood at a loss of Rs 3,136 crore, while earnings per share from continuing operations came in at minus Rs 9.47.

For the nine months to December, the company reported a net loss of Rs 7,255 crore from continuing operations, with revenue down 14 per cent year on year to Rs 2.3 lakh crore. Free cash flow for the quarter was also negative at Rs 17,900 crore.

Most of the damage came from Jaguar Land Rover. The luxury carmaker saw revenue plunge 39.4 per cent year on year to £4.5 billion. Ebit margins slid to minus 6.8 per cent, and profit before tax before exceptional items stood at a loss of £310 million.

The reasons were a perfect storm: a cyber incident that disrupted production, the wind-down of legacy Jaguar models, a weakening China market, and tariff pressures in the United States. The result was a free cash outflow of £1.5 billion for the quarter and net debt rising to £3.3 billion.

Still, the company has held on to its guidance, expecting Ebit margins of 0 to 2 per cent for the full year.

Back home, the domestic passenger vehicle business offered a more cheerful read. Revenue rose 24 per cent year on year to Rs 15,317 crore. Profit before tax before exceptional items stood at Rs 302 crore, while market share climbed to 13.8 per cent, securing the number two spot.

The company’s electric vehicle play also stayed strong, with a commanding 43.6 per cent share of the EV market and cumulative sales crossing the 2.5 lakh mark. The domestic unit ended the quarter with a net cash position of Rs 5,100 crore.

It was also a record quarter on the ground. Tata clocked its highest-ever quarterly wholesales at 171,000 units, up 22 per cent year on year, while retail sales crossed the 200,000 mark for the first time. The Nexon led the charge as the country’s best-selling model for the quarter, supported by the Punch and the newly introduced Sierra.
The quarter carried Rs 1,597 crore worth of exceptional losses. These included Rs 800 crore tied to the JLR cyber incident, Rs 400 crore linked to the new labour code, and another Rs 400 crore in stamp duty charges.

Yet on the restructuring front, the company booked a windfall. The demerger of the commercial vehicles business delivered an exceptional gain of Rs 82,616 crore. That helped push the nine-month net profit, including these gains, to Rs 76,767 crore.

Chief financial officer Dhiman Gupta called the quarter “challenging as anticipated” due to the cyber incident at JLR, while highlighting the domestic business’ revenue growth and margin improvement quarter on quarter. He added that performance is expected to improve significantly in the fourth quarter as JLR recovers.

JLR chief executive PB Balaji said production returned to normal by mid-November after the shutdown triggered by the cyber incident, and the company is now focused on rebuilding momentum.

Meanwhile, TMPVL managing director and CEO Shailesh Chandra pointed to record wholesales and strong festive demand as key drivers of the domestic business.

As of December 31, 2025, the group’s net debt stood at Rs 39,400 crore, with a debt-equity ratio of 0.61 times. Net worth was reported at Rs 1.07 lakh crore.

In short, Tata’s quarter read like a tale of two garages: one humming with orders and electric optimism, the other grappling with a digital breakdown. If the cyber clouds lift and the domestic engine keeps firing, the next quarter could look far less bumpy.