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Tag: Adlabs Films

  • Hotstar ropes in iRock’s Siddhartha Jain as creative director – original content

    Hotstar ropes in iRock’s Siddhartha Jain as creative director – original content

    MUMBAI: Star India’s video on demand platform Hotstar has leapfrogged towards original content creation by appointing iRock Production’s Siddhartha Jain as creative director – original content.

     

    Jain will report to Star India digital head Ajit Mohan.

     

    A source close to the development tells Indiantelevision.com, “Hotstar is aggressively marching forward towards original content and the appointment is a testimony of that.”

     

    Jain, is a serial entrepreneur and film producer. He headed iRock Films India and produced the horror film Ragini MMS.

    Prior to starting iRock with former Adlabs Films chairman Manmohan Shetty, Jain worked at Adlabs for two years. He also produced Marigold – the Salman Khan and Ali Larter starrer US-India film, directed by Willard Carroll, with Hyperion Studio (USA).

  • Reliance Media Works reports lower consolidated loss y-o-y for Sept 2013 quarter

    Reliance Media Works reports lower consolidated loss y-o-y for Sept 2013 quarter

    BENGALURU: Reliance Media Works (RMW), formerly Adlabs Films and a part of the Reliance ADA group, reported lower consolidated net loss in the July-September 2013 (SQ-2013) quarter as compared to the corresponding quarter of last year. RMW’s total consolidated loss before tax for the quarter SQ-2013 at Rs 121.99 crore was almost half (52.74 per cent) of the Rs 231.31 crore the company had reported for the corresponding quarter of last year (Quarter ended 30 September 2012 or SQ-2012), and almost flat as compared to the loss of Rs 120.09 crore for the quarter ended 30 June 2013 (JQ-2013).

     

    Notes:  (1) The board of directors of the company in its meeting on 11 August 2013 has extended the financial year of the company to March 2014 which has been accepted by the Registrar of Companies. Accordingly the financial statements of the company will be drawn for 18 month period ended 31 March 2014. Hence the various quarter have been referred to as SQ (September Quarter) and (JQ) June Quarter of the respective calendar year (not financial year, since this has been changed once again by the company).

     

    (2) Notes of the attached financial statement must be read along with this analysis.

     

    (3) RMW’s net worth has eroded, however, having regard to revenue visibility of new businesses in film and media services, improved operational performance of exhibition business, financial support from its promoters, further restructuring exercise being implemented etc., the financial statements have been prepared on the basis that the company is a going concern and that no adjustments are required to the carrying value of assets and liabilities.

     

    Let us look at RMW’s other results for the quarter ended SQ- 2013.

     

    Consolidated income for SQ-2013 at Rs 192.54 crore was 11.11 per cent lower than the Rs 216.61 crore for the corresponding quarter last year SQ-2012 and 0.8 per cent lower than the Rs 194.17 crore for JQ-2013.

     

    RMW reported total income from operations for SQ-2013 at Rs 186.63 crore which was about 13 per cent lower than the Rs 214.46 crore for SQ-2012 and 3.6 per cent higher than the Rs 180.16 crore for JQ-2013.

     

    Total expense for SQ-2013 at Rs 238.40 crore was 21.54 per cent lower than the Rs 303.83 crore for SQ-2012 and almost flat as compared to the Rs 238.97 crore for JQ-2013.

     

    RMW paid 20.46 per cent lower distributors share for SQ-2013 at Rs 39.66 crore as compared to the Rs 49.86 crore for SQ-2012, but 8.2 per cent higher than the Rs 36.66 crore for JQ-2013.

     

    Depreciation, amortisation and impairment for SQ-2013 at Rs 37.27 crore was 7.2 per cent higher than the Rs 34.78 crore for SQ-2012 and 4.1 per cent higher than the Rs 35.79 crore for JQ-2013.

     

    RMW says that it has undertaken an initiative for rationalisation/improvement of exhibition business, under which it is re-negotiating rentals downwards and in some cases exit the properties. Its rental expense at Rs 43.07 crore for SQ-2013 was 11.6 per cent lower than the Rs 48.72 crore for SQ-2012 and 16 per cent lower than the Rs 51.27 crore for JQ-2013.

     

    Segment results

     

    RMW’s film production segment has been the biggest contributors to the loss. This segment reported income of Rs 35.55 crore for SQ-2013 and a loss of Rs 37.62 crore. The film production loss for SQ-2013 was 38.35 per cent lower than the Rs 61.02 crore for SQ-2012 against flat income of Rs 35.35 crore.  Comparatively, revenue for SQ-2013 was 14.6 per cent higher at Rs 41.62 crore, with a 12.13 per cent lower loss of Rs 33.55 crore.

     

    Theatrical exhibition had an income of Rs 138.6 crore for Q2-2013, which was 15.1 per cent lower than the Rs 163.26 crore for SQ-2012 and 8.7 per cent higher than the Rs 127.56 crore for JQ-2013. This segment reported less than one sixth the loss for SQ-2013 at Rs 14.79 crore as compared to the Rs 94.87 crore for SQ-2012 and 39 per cent lower than the Rs 24.25 crore for JQ-2013.

     

    The only profitable segment, television, film production and distribution reported income of Rs 15.49 per cent for SQ-2013 which was 16.9 per cent higher than the Rs 13.25 crore for SQ-2012, but 10.93 per cent lower than the immediate preceding quarter (JQ-2013) which reported income of Rs  17.39 crore. This segment reported profit of Rs 4.37 crore for SQ-2013 which was 19.82 per cent lower than the Rs 5.45 crore for SQ-2012 and almost flat as compared to the Rs 4.34 crore for JQ-2013.

  • Reliance Media Works reports lower net loss for April-June 2013 quarter

    Reliance Media Works reports lower net loss for April-June 2013 quarter

    BENGALURU: Reliance Media Works (RMW), formerly Adlabs Films and a part of the Reliance ADA group, reported lower consolidated net loss in the April-June 2013 quarter as compared to the preceding quarter (January-March 2013) and the corresponding quarter (April-June 2012) of 2012.

     

    RMW’s net worth has eroded, however, having regard to revenue visibility of new businesses in film and media services, improved operational performance of exhibition business, financial support from its promoters, further restructuring exercise being implemented etc, the financial statements have been prepared on the basis that the company is a going concern and that no adjustments are required to the carrying value of assets and liabilities.

     

    Important Notes:

     

    (1) Since the previous financial year of the company was extended till 30 September 2012, the result for the April-June 2013 quarter will be referred to as Q3-2013, January-March 2013 quarter as Q2-2013 and April-June 2012 quarter as Q3-2012 in this report/analysis.

     

    (2) Notes of the attached financial statement must be read along with this analysis.

     

    For the current quarter (Q3-2013) RMW reported a consolidated net loss of Rs 123.60 crore which was 5.9 per cent lower than the Rs 131.30 crore (y-o-y) for Q3-2012 and substantially lower by 44.4 per cent as compared to the Rs 222.12 crore for Q2-2013 (q-o-q).

     

    Details of RMW’s standalone financial information are: Turnover Rs 126.40 crore for Q3-2013 as compared to Rs 122.61crore for Q3-2012. RMW’s loss before tax for Q3-2013 was Rs 83.73 crore as compared to the Rs 91 crore loss for Q3-2012. Loss after tax stood at the same figure for Q3-2013 and the previous year’s corresponding quarter (Q3-2012).

     

    Let us look at the other figures reported by RMW for the April-June 2013 (Q3-2013) quarter

     

    RMW reported a total income from operations of Rs 180.16 crore for Q3-2013, 10.91 per cent lower than the Rs 202.15 crore in Q3-2012, but 24.6 per cent higher than the Rs 144.63 crore for Q2-2013.

     

    Its total expense for Q3-2013 was Rs 238.97 crore, 6.5 per cent lower than the Rs 255.56 crore for Q3-2012 and 2.2 per cent lower than the Rs 244.38 crore for Q2-2013.

     

    RMW’s net loss from operations at Rs 58.80 crore was 10.1 per cent higher than the Rs 53.41 crore of Q3-2012, but substantially lower than the Rs 99.75 crore in Q2-2013.

     

    Let us look at RMW’s segment results

     

    Film Production Services, Theatrical Exhibition, and Television, Film Production & Distribution are the three segments. Pursuant to the business restructuring exercise of Film Production Services, with effect from 1 October 2011, animation business is no longer considered to be a part of this segment.

     

    Film Production Services reported income of Rs 41.62 crore for Q3-2013, 2.4 per cent lower than the Rs 47.88 crore for Q3-2012, but 14.33 per cent more than the Rs 36.40 crore for Q2-2013.

     

    Loss before interest and tax by this segment was Rs 33.55 crore, almost double (more by 93.9 per cent) the Rs17.31 crore in Q3-2012, but 10.14 per cent lower than the Rs 37.53 crore loss incurred in Q2-2013.

     

    RMW’s Theatrical Exhibition segment reported income of Rs 127.56 crore for Q3-2013 (Includes exceptional items of Rs 60 crore) which was 39.56 per cent lower than Rs 204.29 crore for Q3-2012 and 11.86 per cent lower than the Rs 144.71 crore in Q2-2013.

     

    Loss before interest and tax by RMW’s Theatrical Exhibition was Rs 24.25 crore for Q3-2013 was however 10.46 per cent lower than the Rs 29.09 crore for Q3-2012 and less than a quarter (4.42 times less or 21.74 per cent) of the Rs 111.56 crore loss incurred in Q2-2013.

     

    RMW’s Television/Film Production and Distribution income of Rs 13.25 crore which contributed to just 7.4 per cent to its consolidated revenues in Q3-2013 was the only one that reported a profit before interest and tax of Rs 4.34 crore in Q3-2013 which was 60 per cent higher than the profit before interest and tax of Rs 2.73 crore in Q3-2012. This segment had reported a loss of Rs 3.50 crore for Q2-2013. Revenue from this segment in Q3-2013 was higher by 13.3 per cent as compared to the Rs 11.7 crore for Q2-2012 and 25.7 per cent higher than the Rs10.54 crore for Q2-2013.

  • Anil Ambani plans foray into TV channel business

    Anil Ambani plans foray into TV channel business

    MUMBAI: Anil Ambani is planning to make an entry into the broadcasting business, the final piece in the media chain where he had so far stayed out.

    On his radar is the launch of an entertainment business channel through Adlabs Films, the listed company where he acquired a majority stake in mid-2005.
    “We are considering it and have given the proposal for the launch of an entertainment business channel. But the board has to approve of it,” Adlabs chairman and managing director Manmohan Shetty tells Indiantelevision.com.

    The idea is to capitalise on the contacts that Shetty has with the film industry and synergise content with Adlabs’ film production business. The channel would also provide information on the gross earnings from box office collections and other financial data.

    Shetty, however, did not wish to talk on the content front, saying “it was too early to talk about anything” till the go-ahead signal was given for launching the channel.

    Adlabs already has a presence in film processing, production and distribution business. The company is also stepping into TV content production and has bought out majority stake in Siddharth and Anita Basu’s production house Synergy Communications Pvt Ltd. Ambani has ventured into the FM radio sector with aggressive bids for stations.

    “The acquisition process is not completed yet. We would be pumping money into the content business after that. We will be making content for other TV channels through this company,” says Shetty. Synergy has produced popular shows like Kaun Banega Crorepati or KBC (an Indian version of the popular western game show Who Wants To Be A Millionaire) for Star and Jhalak Dikhla Jaa (a local adaption of Dancing With The Stars) for Sony.

    Adlabs has ambitious plans for animation. In the pipeline is a 3D feature film, Superstar, with Southern actor Rajnikanth’s Ochre Studios which is slated for release in April 2008. The second animation project is a feature based on the characters Gini & Jony, who represent one of the top brands in children apparel in India.

    “The first film will cost Rs 310 million and we will have a worldwide release. We haven’t finalised the budget for the second film as we are not ready with the script yet,” says Shetty.

    Rounding up the media cycle will be the foray into the broadcasting space. Ambani has already announced his plans for IPTV and a direct-to-home (DTH) service.

  • Adlabs Films Q2 net profit up 224 per cent at Rs 204 million

    Adlabs Films Q2 net profit up 224 per cent at Rs 204 million

    MUMBAI: Anil Dhirubhai Ambani Group controlled Adlabs Films’ net profit stood at Rs 204 million for the quarter ended 30 September as against Rs 62.86 million for the same period last year.

    The second quarter total income recorded an increase of Rs 595.97 million from Rs 246.82 million for the July-September quarter 2005.

    Operating profit stood at Rs 309.51 million as against Rs 110.04 million for the corresponding period last year .

    The company’s expenditure for the quarter closed at Rs 286.45 million as compared to the previous fiscal period Rs 136.79 million.

    Recently, the company picked up 51 per cent stake in Siddharth Basu promoted Synergy Communications. The company also launched its radio stations in Delhi , Hyderabad , Chennai, Kolkata and Bangalore, under the brand name Big 92.7 FM.

  • Adlabs Films finds Synergy in equity deal

    Adlabs Films finds Synergy in equity deal

    MUMBAI: The Anil Dhirubhai Ambani Group (ADAG)-backed Adlabs Films is set to formally make a foray into the television business.

    According to capital market sources, Adlabs Films is poised to pick up a sizeable equity stake in Siddharth and Anita Basu’s production house Synergy Communications Pvt Ltd.

    Sources close to the development, however, said that it is still not clear whether the stake being picked up is 51 per cent or higher.

    While Adlabs expressed ignorance of the deal when contacted by Indiantelevision.com, Synergy Communications refused to entertain any query on the issue.

    However, market sources said that a valuation of Synergy Communications has been pegged between Rs 470 million to Rs 500 million.

    The scrip of Adlabs Films Ltd closed on 6 September at Rs 332.10 after opening at Rs 332 on Bombay Stock Exchange (BSE). The scrip reached an intra-day high of Rs 337.50, probably riding on the information of its radio division slated to roll-out FM operations in about four to six weeks time.

    It must be reiterated here that Adlabs Films CMD Manmohan Shetty had earlier confirmed to Indiantelevision.com that the company was looking at taking a controlling equity stake in a production house.

    Though Shetty had refused to divulge any names at that time, he had admitted, “All that I can say is that it (the targeted production house) is not a listed company and produces three to four shows with a good balance sheet.”

    Adlabs has been funding a few TV production companies and has chalked out eight projects with various producers who will be making programmes for TV channels.

    Synergy Communications, producers of Kaun Banega Crorepati or KBC (an Indian version of the popular western game show Who Wants To Be A Millionaire), is presently working on Jhalak Dikhla Jaa (a local adaption of Dancing With The Stars) for Sony.

    KBC, hosted by Bollywood legend Amitabh Bachchan, first started airing in 2000 on Star Plus and created such a national hysteria that it changed the fortunes of Star India and put it in a leadership position that’s still being maintained.

    Synergy was started by ace quizmaster Basu and his wife after the gentleman became a household name in India by hosting the very popular Quiz Time on Doordarshan in the pre-cable television days.

  • Adlabs Films finds Synergy in equity deal

    MUMBAI: The Anil Dhirubhai Ambani Group (ADAG)-backed Adlabs Films is set to formally make a foray into the television business.

    According to capital market sources, Adlabs Films is poised to pick up a sizeable equity stake in Siddharth and Anita Basu’s production house Synergy Communications Pvt Ltd.

    Sources close to the development, however, said that it is still not clear whether the stake being picked up is 51 per cent or higher.
    While Adlabs expressed ignorance of the deal when contacted by Indiantelevision.com, Synergy Communications refused to entertain any query on the issue.

    However, market sources said that a valuation of Synergy Communications has been pegged between Rs 470 million to Rs 500 million.

    The scrip of Adlabs Films Ltd closed on 6 September at Rs 332.10 after opening at Rs 332 on Bombay Stock Exchange (BSE). The scrip reached an intra-day high of Rs 337.50, probably riding on the information of its radio division slated to roll-out FM operations in about four to six weeks time.

    It must be reiterated here that Adlabs Films CMD Manmohan Shetty had earlier confirmed to Indiantelevision.com that the company was looking at taking a controlling equity stake in a production house.

    Though Shetty had refused to divulge any names at that time, he had admitted, “All that I can say is that it (the targeted production house) is not a listed company and produces three to four shows with a good balance sheet.”
    Adlabs has been funding a few TV production companies and has chalked out eight projects with various producers who will be making programmes for TV channels.

    Synergy Communications, producers of Kaun Banega Crorepati or KBC (an Indian version of the popular western game show Who Wants To Be A Millionaire), is presently working on Jhalak Dikhla Jaa (a local adaption of Dancing With The Stars) for Sony.

    KBC, hosted by Bollywood legend Amitabh Bachchan, first started airing in 2000 on Star Plus and created such a national hysteria that it changed the fortunes of Star India and put it in a leadership position that’s still being maintained.

    Synergy was started by ace quizmaster Basu and his wife after the gentleman became a household name in India by hosting the very popular Quiz Time on Doordarshan in the pre-cable television days.

     

  • Media scrips soar as Sensex recovers

    Media scrips soar as Sensex recovers

    MUMBAI: Bucking the trend of a sustained dip over the last few days, the Bombay Stock Exchange (BSE) benchmark Sensex gained over 345 points today, recording the biggest single day gain for the month. The bounce back was fuelled by massive buying by foreign and domestic funds even as global markets firmed up.

    The Sensex closed at 10,352.94, after touching an intra-day high of 10,409.58 points. The National Stock Exchange (NSE) index Nifty registered a gain of 90.30 points and closed at 3,023.05.

    Among the media stocks, Sun TV recorded the maximum gain on the back of healthy FY06 results. Inspired by an almost 70 per cent jump in net profits, the Sun TV scrip closed at 1,083.60 in the BSE, higher by Rs 38.10. At the National Stock Exchange (NSE), it ended the day’s trade at 1,085.50 with a gain of Rs 35.30. The rally was significant as the scrip had tumbled yesterday from Rs 1099 to Rs 1045, a fall of Rs 54.

    In the media block, TV18 scored the next best gain for the day, going up by Rs 35.70 to close at Rs 578 on the BSE. At the NSE, it gained Rs 36.7 to reach 577.35 points. TV18 has been maintaining a steady run since a long time. Since the last one month, the scrip has gone up by Rs 92 at the BSE.

    UTV Software Communications, riding on the market expectations of an equity deal with an international major, gained Rs 14.35 at the BSE today, to close at 165.65 points. At the NSE, it gained Rs 13.00 to touch Rs 164.45. Gemini Communications rose Rs 14.7 at the BSE, to reach 396. Navneet Publications gained Rs 10.45 at the BSE and Rs 11.45 at the NSE to close at 278.55 and 279.30 respectively. Hinduja TMT recorded a gain of Rs 9.8 to close at 479.75 at the BSE.

    Other prominent media scrips which also recorded gains for the day included NDTV, Zee Telefilms, Entertainment Network India, Adlabs Films and Balaji Telefilms. However, Saregama India was the only major loser as the scrip dipped by Rs 7.3, to close at 142.45 at the BSE.

  • Balaji’s V Devarajan joins Adlabs Films as CFO

    Balaji’s V Devarajan joins Adlabs Films as CFO

    MUMBAI: Anil Ambani is busy poaching executives from rival media organisations. The latest to join Adlabs Films Ltd is Balaji Telefilms chief financial officer V Devarajan.

    “We are taking in Devarajan as our CFO. He willl be joining us soon,” says a senior executive in Adlabs Films.

    Devarajan joined Balaji Telefilms as CFO in 2002 and was responsible for putting in place processes that resulted in operational cost efficiencies.

    Devarajan’s resignation as Balaji CFO was effective 9 May and India’s leading soap factory moved swiftly to put in a replacement. Sandeep Jain takes over from the departing Devarajan as the new Balaji CFO with immediate effect.

    Adlabs is in a major expansion spree and is ramping up its film exhibition and production businesses. The company recently bought out the entire stake of Mukta Arts in a joint venture company for digital distribution of movies.

    Adlabs Films’ board recently approved the proposal for demerger of its FM radio business to a wholly owned subsidiary, Adlabs Radio Pvt Ltd. Adlabs plans to list the new entity on the stock exchange.

  • Adlabs to buy out Mukta stake in JV, pump in Rs 2 billion in twin-screen theatres

    Adlabs to buy out Mukta stake in JV, pump in Rs 2 billion in twin-screen theatres

    MUMBAI: Anil Ambani-controlled Adlabs Films Ltd is buying out Mukta Arts’ 50 per cent stake in the joint venture company, Mukta Adlabs Digital Exhibition.

    As a step up in the plan, Adlabs is earmarking an investment of Rs two billion towards acquisition of 50 old cinema theatres for conversion into “twin screens.” Part of this investment will include the installation of digital projectors in these theatres.

    “We are acquiring the entire stake of Mukta Arts. We will be investing Rs two billion to upgrade 50 cinema theatres and install digital delivery systems in them,” Adlabs Films chairman and managing director Manmohan Shetty tells Indiantelevision.com.

    Adlabs and Subhash Ghai-promoted Mukta Arts had floated a joint venture company in 2003 for digital delivery of movies. Mukta Adlabs Digital Exhibition had invested around Rs 100 million but the company had been unable to make much headway with its technology which required a server and projectors to be installed in the theatres.

    For buying out the stake, Adlabs has not paid any premium. “We have paid a little less than Rs 50 million which is the actual investments made by Mukta Arts. We didn’t want any partners as we were planning to integrate the twin-screen converted cinema threatres with the installation of digital projectors. We plan to have the 50 twin screen theatres in B-class stations over 3-4 years,” says Shetty.

    Mukta Arts, however, is not abandoning the digital delivery of movies project. “We decided to part ways with Adlabs as our plans were different. Digital distribution of movies will be very much part of our plans as we are committed to technologies of the future,” says Mukta Arts CEO Ravi Gupta.

    The new technology of digital projection through hard discs avoids the use of film prints, which costs between Rs 50,000 and Rs 60,000 to the distributor. It also enables audiences of “B” and “C” class centres to watch their favourite films on the first day itself, thereby making simultaneous worldwide release a possibility. The technology also combats against piracy.

    Anil Ambani has big plans to deliver movies to cinema theatres through Reliance Infocomm’s fibre optic network. Having designs on launching a direct-to-home (DTH) service, he may also take the satellite delivery route for distribution of movies. “Even if the current delivery sytems are changed, digital projectors will be required in the fibre or the satellite system. Our plan is to aggressively install these projectors in the theatres which we are taking up for converting into twin screens,” says Shetty.