BENGALURU: Shemaroo Entertainment has its maiden annual numbersafter listing in September 2014. The company has reported 50.7 per cent growth in profit after tax (PAT) at Rs 40.92 crore (12.7 per cent of Total Income from Operations or TIO) as compared to the Rs 27.16 crore (10.3 per cent of TIO) in FY-2014.
BENGALURU:Last September, Indiantelevision.com had estimated that the marketing spends by one of the biggest spenders on advertisement and sales promotion (ASP) in India, nutrition, health and wellness company Nestle India Limited would be about Rs 450 with a variation of +10 per cent.
Background: Being a part of a multi-national group, the company is generally quite tight lipped about sharing financials unless it has to legally do so. Details about the company’s advertisement spends are not indicated even in the company’s annual reports – what you have is a combination of the Advertisement and Sales Promotion spends declared as a single entry in the notes forming the part of the company’s annual financials. There is really no way that one could pin an exact number for these spends unless one has an inside track on the company’s marketing budgets. The projections and numbers in this report are pure conjecture based statistical tools used on the historical annual numbers revealed by the company in its annual reports. The author has no knowledge about Nestle’s strategy, past or present.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
In its FY-2014 annual report for the year ended 31 December, 2015, Nestle has indicated ASP spends at Rs 445.47 crore (4.52 per cent of Total Income from Operations or TIO), or just 1.01 per cent off the Rs 450 crore mark mentioned by us. Please refer to figure 1 below that has been updated until FY-2014.
CAGR for Nestle’s ASP in absolute rupees in the eleven year period from FY-2004 to FY-2014 has increased slightly to 12.56 per cent as compared to the 12.55 per cent for the ten year period between FY-2004 and FY-2013.
Indiantelevision.com had also estimated that Nestle would report TIO in the range between Rs 9534.09 crore and Rs 10640 crore for FY-2014. The company has reported TIO of Rs 9854.84 crore, well withinthe range indicated by us, while just missing the Rs 100 billion mark by a small fraction. The company’s TIO CAGR has gone down over the eleven year period starting FY-2004 until FY-2014 to 14.48per centas compared to the CAGR of 16.93 per cent for the ten year period between FY-2004 and FY-2013. Please refer to figure 2 below for actual y-o-y growth in TIO.
In the company’s earnings release for FY-2014, Nestle managing director Etienne Bennet said, “2014 was a challenging year and I am satisfied that in a difficult environment, we have delivered both top and bottomline and our results are broadly in line with the Food and Beverages segment of the FMCG sector. We increased investments behind our brands and maintained healthy profitability despite strong headwinds in milk solids costs that were higher than international markets and were not passed onto the consumer fully. We remain focused on value portfolio management and are continuing to reshape the portfolio and communication to strengthen our leadership as Nutrition, Health and Wellness company.”
Nestle’sProfit after Tax (PAT) has shown a lower CAGR during the eleven year period from FY-2004 to FY-2014 of 14.5 per cent as compared to a CAGR of 15.54 per cent over the ten year period FY-2004 to FY-2013. Please refer to figure 3 below for PAT performance. PAT for FY-2014 was Rs 1184.69 crore (12 per cent of TIO), sixper cent more than the RS 1117.13 crore (12.3 per cent of TIO) for FY-2013.
Overall, the company’s PAT, both in terms of absolute rupees and as per centage of TIO shows an upward linear trend for the eleven year period between FY-2004 and FY-2014.
BENGALURU: Tata Global Beverages (TGBL) advertisement and sales charges (ASP) in FY-2014 was up 13.2 per cent to Rs 1402.26 crore (18.1 per cent of Total Operating Income or Tot Inc) from Rs 1238.96 crore (16.9 per cent of Tot Inc) in FY-2013.
However, the company’s Q4-2014 ASP at Rs 347.51 crore (18.2 per cent of Tot Inc) was 13.3 per cent lower than the Rs 400.71 crore (19.3 per cent of Tot Inc) in the immediate trailing quarter and 13.6 per cent more than the Rs 305.99 crore (16.5 per cent of Tot Inc) in the year ago quarter Q4-2013.
Note: 100,00,000 = 1 crore = 100 lakh = 10 million.
TGBL PAT in FY-2014 at Rs 480.51 crore (6.2 per cent of Tot Inc) was 28.9 per cent more than the Rs 372.75 crore (5.1 per cent of Tot Inc) in FY-2013. In Q4-2014, the company’s PAT at Rs 69.30 crore (3.6 per cent of Tot Inc) was 42 per cent less than the Rs 119.55 crore (5.7 per cent of Tot Inc) in Q3-2014 and 27.6 per cent less than the Rs 95.76 crore (5.2 per cent of Tot Inc) in Q4-2013.
Over the nine quarter period starting Q4-2012 until Q4-2014, TGBL’s ASP shows an upward linear trend, both in terms of rupee value as well as in terms of percentage of Tot Inc. A similar linear trend is observed in the five year period starting FY-2010 until FY-2014. Please refer to Fig. 1 below.
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The company’s Tot Inc in FY-2014 was 5.3 per cent more at Rs 7737.61 crore as compared to the Rs 7350.98 crore in FY-2013. In Q4-2014 TGBL’s Tot Inc at Rs 1909.93 crore was 8.2 per cent lower than the Rs 2080.74 crore in Q3-2014 and 3.3 per cent more than the Rs 1849.50 crore in Q4-2013. Figure 2 below indicates a linear upward trend acorss the above mentioned nine quarter period as well as the five year period.
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While the linear trend across the five years from FY-2010 till FY-2014 in Fig 3 below seems to indicate that PAT seems to have flattened at about 6.2 per cent of Tot Inc, the linear trend across the nine quarters indicates an upward trend.
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So of the points of note in an investors’ presentation for performance in FY-2014 and a TGBL press release are:
(1) The company claims a 15 per cent top line growth across the portfolio with volume and value increases.
(2) It says that TGBL has maintained market volume and value leadership at 20.1 per cent and 22.3 per cent respectively. Tata Tea Gold restaged with primary TV campaign – Tata Tea Gold Power of 49 campaign and IIFA integration.
(3) Iconic Power of 49 ‘Jaago Re’ campaign integrating brand messaging with social cause.
(4) Chakra Gold and Kanan Devan restage in Q4-2014.
(5) Tetley Green tea re-launched in January with an impactful campaign with Kareena Kapoor.
(6) Various consumer promotions were undertaken to drive sales growth. Competition has launched aggressive promotions.
The company’s press release says:
The ‘Power of 49’ campaign for Tata Tea Gold in India, which encouraged women to exercise the power of their franchise, saw strong momentum and consumer participation last quarter with a mix of elements spanning advertising, on ground activation and digital marketing. TGBL says the campaign touched over 10 crore women across India and sparked over 50 lakh interactions through its communication channels.
Tata Starbucks – a joint venture between Tata Global Beverages and Starbucks- now has 46 Starbucks stores across the cities of Mumbai, Delhi, Bangalore and Pune. The stores continue to see excellent consumer response. Tata Water Plus- India’s first nutrient water, now has a presence in the states of Tamil Nadu, Andhra Pradesh and Gujarat in PET bottle as well as pouch formats. Tata Gluco Plus launched a new flavor variant- Apple Cinnamon last quarter, which was been very well received in the market. With this launch, the brand now has five delicious flavours available.
TGBL managing director and CEO Ajoy Misra said, “In a challenging market environment, we continue to invest strongly behind our brands. We have made good progress on category expansion into coffee and the single serve business in Australia with the acquisition of the MAP brand. By leveraging key consumer trends like wellness, convenience and indulgence, Tata Global Beverages continues to create many magical beverage moments for consumers across the globe. Our strategic alliances with PepsiCo and Starbucks are making good progress and seeing steady growth.”
BENGALURU: Indian food industry major Britannia Industries Limited (Britannia) advertisement and sales promotion expense (ASP) in FY-2014 at Rs 603.65 crore (8.7 per cent of Net Total Income from Operations or Op Inc) was 13 per cent more than the Rs 534.28 crore (8.6 per cent of Op Inc) that the company spent in the previous fiscal towards this head. However, in Q4-2014, the company’s ASP was 5.9 per cent lower at Rs 146.19 crore (8.1 per cent of Op Inc) than the Rs 155.28 crore (8.7 per cent of Op Inc) in Q3-2014 and 0.4 per cent less than the Rs 146.76 crore (8.9 per cent of Op Inc) in Q4-2013.
Note: 100,00,000 = 1 crore = 100 lakh = 10 million
In FY-2014, the company reported a 11.8 per cent jump in Op Inc to Rs 6912.71 crore from Rs 6185.41 crore in FY-2013. For Q4-2014, Britannia’s Op Inc at Rs 1812.44 crore was 1.1 per cent more than the Rs 1793.01 crore in the immediate trailing quarter and was 9.7 per cent more than the Rs 1651.66 crore in the year ago quarter Q4-2013.
Though in rupee value terms, Britannia’s ASP over eight quarters starting with Q1-2013 till Q4-2014 shows an upward linear trend, in terms of percentage of Op Inc., ASP expense seems to have flattened out linearly to about 8.7 per cent of Op Inc over this period (which is also the average ASP in terms if percentage of Op Inc over the 8 quarters). Over a five year period starting FY-2010 till FY-2014, the company’s ASP spent has been trending upward linearly, both in terms of rupees spent and in terms of percentage of Op Inc. Please refer to Fig. 1A and 1B below.
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Fig. 1B below is quite interesting. During the eight quarters under consideration, the two curves representing percentage changes of Op Inc and ASP between two corresponding quarters (Q-o-q) run side by side, except between Q1-2014 and Q2-2014 where they intersect. This suggests that a change in ASP spends definitely effects the Op Inc, a dip in ASP results in a dip in Op Inc growth, and an increase in ASP results in an increase Op Inc growth.
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Britannia reported PAT of Rs 395.35 crore (5.7 per cent of Op Inc) in FY-2014, which was a phenomenal 52.4 per cent more that the Rs 259.5 crore (4.2 per cent of Op Inc) in FY-2013. For Q4-2014, the company’s PAT at Rs 108.12 crore (6 per cent of Op Inc) which was 7.8 per cent more than the Rs 100.32 crore (5.6 per cent of Op Inc) in Q3-2014 and 17.2 per cent more than the Rs 92.26 crore (5.6 per cent of Op Inc) in Q4-2013. Across the eight quarters and the five years under consideration, PAT curves and ASP curves in terms of percentage of Op Inc run side by side and are almost parallel. The company’s PAT has been climbing upwards from 3.4 per cent of Op Inc in FY-2010 to 5.7 per cent of Op Inc in FY-2014. Across the eight quarters under consideration, PAT has climbed from 3.4 per cent of Op Inc in Q1-2013 to 6 per cent of Op Inc in Q4-2014. As mentioned above, ASP in terms of percentage of Op Inc seems to have flattened out. Please refer to Fig 2 below:
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Commenting on the performance, Britannia managing director Varun Berry said, “Overall, It’s been a good year with double digit revenue growth and a solid profit growth. This is the result of disciplined effort that focused on the primary building blocks of business viz. supporting our brands, an empowered and passionate front-line organisation delivering increased distribution depth in urban and width in rural India, consistently high product quality and improved operational efficiency. Toughening economic environment called for a focus on fundamentals and we did that. We have established a great platform to take our organization to greater heights.”
The board of directors has recommended a dividend of 600 per cent or Rs 12 per equity share of Rs 2 each.
BENGALURU: Sahara One Media & Entertainment Limited (Sahara One) reported a little more than one third the PAT at Rs 1.78 crore (2 per cent of net revenue from operations or Op Rev) in FY-2014 as compared to the Rs 5.29 crore (4.3 per cent of Op Rev) in FY-2013. During the last two quarters of FY-2014, the company has incurred loss, and the profit that it has reported is residual from the PAT of the first two quarters of the year. Further, Sahara One’s operating revenue net of service tax (in FY-2013) at Rs 91.39 crore in FY-2014 dropped 25.3 per cent from Rs 122.28 crore in FY-2013.
Sahara One reports revenue from two segments – television and motion pictures. The revenue numbers from its motion pictures segment have been negligible in FY-2013 and FY-2014. However a significant portion of the loss has been attributed to motion pictures segment.
Note : (1)100,00,000=100 lakh = 1 crore = 10 million.
Sahara One results for the quarters in FY-2014 were: Q1-2014-PAT of Rs 1.21 crore: Q2-2014, Rs 4.10 crore, Q3-2014 loss Rs 3.37 crore: Q4-2014 loss Rs 0.15 crore. For Q4-2013, Sahara One had reported a loss of Rs 1.74 crore.
The company’s EBIDTA (including other income) was a positive at Rs 2.95 crore in FY-2014 as compared to a negative EBIDTA (including other income, excluding service tax) of Rs 1.69 crore in FY-2013.
Let us look at the other numbers reported by Sahara One in FY-2014 and Q4-2014
The company reported Op Rev of Rs 20.95 crore in Q4-2014, which was 2.6 per cent more than the Rs 20.41 crore in Q3-3014, but 21 per cent less than the Rs 26.52 crore in Q4-2013.
Other income figures: FY-2014 Rs 10.04 crore (1.06 per cent of Op Rev); FY-2013 Rs 10.30 crore (8.34 per cent of Op Rev); Q4-2014 Rs 2.24 crore (10.7 per cent of Op Rev); Q3-2014 Rs 2.36 crore (11.5 per cent of Op Rev) and Q4-2013 Rs 1.66 crore (6.3 per cent of Op Rev).
Sahara One’s Total Expense (Tot Exp) in FY-2014 at Rs 98.68 crore (108 per cent of Op Rev) in FY-2014 was 26.6 per cent less than the Rs 134.48 crore (110 per cent of Op Rev) in FY-2014. Tot Exp in Q4-2014 at Rs 23.54 crore (112.4 per cent of Op Rev) was 3.8 per cent more than the Rs 22.67 crore (111.1 per cent of Op Rev) in Q3-2014 and 17.8 per cent less than the Rs 28.63 crore (108 per cent of Op Rev) in Q4-2013.
Content cost is a major expense head for Sahara One. The company paid Rs 84.49 crore (93.5 per cent of Op Rev) towards purchase of content (content cost) in FY-2014, which was 28.9 per cent less than the Rs 102.27 crore (98.4 per cent of Op Rev) in FY-2014. Sahara One paid Rs 17.2 crore (112.4 per cent of Op Rev) towards content cost in Q4-2014, which was 40.8 per cent lower than the Rs 29.06 crore (142.4 per cent of Op Rev) in Q3-2014 and 35.2 per cent less than the Rs 26.53 crore (100 per cent of Op Rev) in Q4-2013.
The company’s trade payables, trade receivables and inventory numbers have all gone up in FY-2014 as compared to FY-2013. Here are the figures: Trade Payables – FY-2014 at Rs 41.02 crore (44.9 per cent of Op Rev) which was 17.9 per cent more than the Rs 34.78 crore (28.4 per cent of Op Rev) in FY-2013; Trade receivables – FY-2014 at Rs 78.89 crore (81.9 per cent of Op Rev) which was 2.06 times (more than double) the Rs 36.31 crore (29.7 per cent of Op Rev) in FY-2013. Inventories – FY-2014 at Rs 50.26 crore (55 per cent of Op Rev) which was 18.5 per cent more than the Rs 43.41 crore (34.7 per cent of Op Rev) in FY-2013.
Here are the segment numbers: Television segment: FY-2014 revenue Rs 95.83 crore, segment result operating profit Rs 12.62 crore : FY-2013 revenue Rs 135.04 crore, segment result operating profit of Rs 8.01 crore.
Motion Pictures: FY-2014 revenue Rs 0.01 crore, segment result loss of Rs 0.73 crore: FY-2013 revenue Rs 0.15 crore, segment result loss of Rs 1.88 crore.
Unallocated: FY-2014 unallocated revenue Rs 6.58 crore, result -unallocated loss Rs 4.53 crore; FY-2014 unallocated revenue Rs 7.38 crore, result- unallocated loss of Rs 2.64 crore.
BENGALURU: Indian Theatrical film exhibitor Inox Leisure Limited (Inox) reported FY-2014 PAT of Rs 36.93 crore (4.3 per cent of Total Income from operations of Tot Op Inc), 100.2 per cent more than the Rs 18.45 crore (2.4 per cent of Tot op Inc) in FY-2013.
The company reported Tot Op Inc of Rs 868.83 crore in FY-2014, which was 13.5 per cent higher than the Rs 765.29 crore in the previous fiscal. Tot Op Inc of Rs 188.30 crore, was 12.1 per cent less than the Rs 214.27 crore in Q3-2014 and 10.4 per cent more than the Rs 170.59 crore in Q4-2013.
Note : (1)100,00,000=100 lakh = 1 crore = 10 million.
PAT in Q4-2014 was just Rs 1.43 crore (0.8 per cent of Tot Op Inc) and less than a fourth (1/4.23 times) the Rs 6.47 crore in Q3-2014. The company had reported loss of Rs 9.94 crore in Q4-2013.
Let us look at the other Q4-2014 and FTY-2014 numbers reported by Inox
Inox reported 12.3 per cent higher total expenditure (Tot Exp) in FY-2014 at Rs 797.56 crore (91.8 per cent of Tot Op Inc) as compared to the Rs 710.35 crore (92.8 per cent of Tot Op Inc) in FY-2013. Inox reported Tot Exp of Rs 184.78 crore (98.1 per cent of Tot Op Inc) in Q4-2014, which was 7.8 per cent less than the Rs 200.36 crore (93.5 per cent of Tot Op Inc) in Q3-2014 and 4.9 per cent more than the Rs 176.18 crore (103.3 per cent of Tot op Exp) in Q4-2013.
The company paid Rs 106.07 crore (12.2 per cent of Tot Op Inc) in FY-2014 towards Entertainment Tax, which was 3.9 per cent more than the Rs 102.04 crore (13.3 per cent of Tot Op Inc) in FY-2013. Entertainment Tax in Q4-2014 at Rs 221.2 crore (11.7 per cent of Tot Op Inc) was 12.6 per cent less than the Rs 253.1 crore (11.8 per cent of Tot Op Inc) in Q3-2014 and 2 per cent more than the Rs 216.9 crore (12.7 per cent of Tot Op Inc) in Q4-2013.
Inox incurred a cost of Rs 223.49 crore (25.7 per cent of Tot Op Inc) in FY-2014 towards Exhibition Cost, which was 6.5 per cent more than the Rs 209.94 crore (27.4 per cent of Tot Op Inc) in the previous fiscal. Exhibition cost in Q4-2014 was less by 14.9 per cent at Rs 46.36 crore (24.6 per cent of Tot Op Inc) as compared to the Rs 54.48 crore (25.4 per cent of Tot Op Inc) in the immediate trailing quarter and 2.5 per cent more than the Rs 45.23 crore (26.5 per cent of Tot Op Inc) in Q4-2013.
Inox paid Rs 137.22 crore (15.8 per cent of Tot Op Inc) towards property rent, conducting fees and common facility charges (rent and other charges) in FY-2014, which was 16.4 per cent more than the Rs 117.9 crore (16.8 per cent of Tot Op Inc) in FY-2013. The company paid Rs 35.64 crore (18.9 per cent of Tot Op Inc) in Q4-2014 towards rent and other charges, which was 3.1 per cent more than the Rs 34.58 crore (16.1 per cent of Tot Op Inc) in Q3-2014 and 13.4 per cent more than the Rs 31.42 crore (18.4 per cent of Tot Op Inc) in Q4-2013.
The company paid 3.5 per cent more towards finance cost in FY-2014 at Rs 27.63 crore (3.2 per cent of Tot Op Inc) as compared to the Rs 26.7o crore (3.5 per cent of Tot Op Inc) in FY-2013. Finance cost in Q4-2014 at Rs 6.20 crore (3.3 per cent of Tot Op Inc) was 6.3 per cent less than the Rs 6.62 crore (3.1 per cent of Tot Op Inc) in Q3-2014 and 13.2 per cent lower than the Rs 7.14 crore (4.2 per cent of Tot Op Inc) in Q4-2013.
Inox currently operates 79 multiplexes and 310 screens in 43 cities. Since its inception in 1999, Inox has been active in exploring acquisition and / or expansion opportunities on continuous basis with a view to consolidate its position in the multiplex industry. In 2007, Calcutta Cinema Private Ltd (CCPL), a multiplex cinema theatre company based in West Bengal was merged with Inox. In May 2013, Fame India Limited, another multiplex cinema theatre company having nationwide presence, was merged with Inox.
BENGALURU: Sri Adhikari Brothers Television Network Limited (SAB TV) reported a 4.5 fold increase in consolidated PAT of Rs 5.52 crore (3.1 per cent of Income from Operations or Op Inc) in FY-2014 from Rs 1.23 crore (0.8 per cent of Op Inc) in FY-2013. SAB TV reported a 11.9 per cent jump in topline for FY-2014 to Rs 180.37 crore from Rs 161.24 crore in FY-2013.
Note: (1)100,00,000=100 lakh = 1 crore = 10 million.
(2) Annual figures are on a consolidated basis, quarterly figures are standalone.
Let us look at the numbers for FY-2014 reported by SAB TV
On a consolidated basis, the SAB TV group has two business segments – (a) Content Production and Distribution (Content) and (b) Broadcasting.
SAB’s content segment reported revenue of Rs 71.49 crore in FY-2014, up 18.3 per cent as compared to the Rs 60.43 crore in FY-2013. This segment returned a 10.7 per cent improvement in positive result of Rs 7.81 crore (10.9 per cent of segment revenue) in FY-2014 as compared to the Rs 7.06 crore (11.7 per cent of segment revenue) in FY-2013.
SAB’s broadcasting segment reported revenue of Rs 108.89 crore in FY-2014, up 8 per cent as compared to the Rs 100.82 crore in FY-2013. The company’s broadcasting segment returned operating profit of Rs 19.41 crore (17.8 per cent of segment revenue), which was 68.2 per cent more than the Rs 11.54 crore (11.4 per cent of segment revenue) in FY-2013.
SAB has reported total expense of Rs 153.35 crore (85 per cent of Op Inc) in FY-2014, 7.3 per cent more as compared to the Rs 142.95 crore (88.7 per cent of Op Inc) in FY-2013.
SAB TV has reported Production/Direct Expense (Prodn Exp) of Rs 115.29 crore (63.9 per cent of Op Inc) in FY-2014 9.3 per cent more as compared to the Rs 105.44 crore (65.4 per cent of Op Inc) in FY-2013.
The company’s Interest/Finance cost went up 4.5 per cent in FY-2014 to Rs 18.01 crore (10.5 per cent of Op Inc) from Rs 18.14 crore (11.3 per cent of Op Inc) in FY-2013.
The board of directors of the company has recommended a dividend of 60 paise per equity share of Rs 10 each for the financial year 2013-14 subject to the approval of shareholders in the ensuing annual general meeting.
BENGALURU: Mukta Arts Limited (Mukta Arts) paid Rs 234.09 crore (76 per cent of consolidated net total income from operations or Op Inc of Rs 234.09 crore) as producers and distributors share in FY-2014. The company has reported a consolidated loss of Rs 7.34 crore in FY-2014, which was 5.36 times the loss of Rs 1.37 crore the company had reported in FY-2013. Other Income in FY-2014, which included the proceeds of a keyman insurance policy, cushioned the loss by Rs 4.63 crore, else loss would have been nearly Rs10 crore in the year.
In FY-2013, Mukta Arts paid Rs 269.91 crore or 95 per cent of Op Inc on a consolidated basis towards producers and distributors share. In FY-2013, other income reduced the loss by Rs 2.25 crore.
Note : (1)100,00,000=100 lakh = 1 crore = 10 million.
(2) Annual figures are on a consolidated basis.
Let us look at the other numbers reported by Mukta Arts for FY-2014 and Q4-2014
Mukta Arts reported Total Income from operations (net) excluding other income in Q4-2014 as Rs 57.07 crore which was 25.6 per cent lower than the Rs 76.67 crore in Q3-2014 and 3.1 per cent less than the Rs 61.91 crore in the year ago quarter Q4-2013.
Consolidated Total Expense for FY-2014 at Rs 313.83 crore (102 per cent of Op Inc) was 14.7 per cent more than the Rs 273.65 crore (98.9 per cent of Op Inc) in FY-2013. Mukta Arts total expense in Q4-2014 at Rs 60.21 crore (105.5 per cent of Op Inc) was 21.4 per cent less than the Rs 76.61 crore (99.9 per cent of Op Inc) in Q3-2014 and 2.7 per cent less than the Rs 61.91 crore (105 per cent of Op Inc) in Q4-2013.
Producers and distributors share expense in Q4-2014 at Rs 48.93 crore (85.7 per cent of Op Inc) was 29 per cent less than the Rs 68.98 crore (90 per cent of Op Inc) in Q3-2014 and 8.9 per cent less than the Rs 53.73 crore (91.2 per cent of Op Inc) in the fourth quarter of last year.
Other expense for FY-2014 at Rs 30.6 crore (9.9 per cent of Op Inc) was 32.3 per cent more than the Rs 23.12 crore (8.35 per cent of Op Inc). In FY-2013, Mukta Arts reported other expense in Q4-2014 at Rs 6.33 crore (11.1 per cent of Op Inc) was 62.7 per cent more than the Rs 3.89 crore (5.1 per cent of Op Inc) and 30.1 per cent more than the Rs 4.87 crore (8.3 per cent of Op Inc) in Q4-2013.
Finance cost is FY-2104 at Rs 6.64 crore (2.2 per cent of Op Inc) was 16.7 per cent more than the Rs 5.69 crore (2.1 per cent of Op Inc) in FY-2013. Mukta Arts spent Rs1.97 crore (3.45 per cent of Op Inc) towards finance cost, which was 31.5 per cent more than the Rs 1.5 crore (1.95 per cent of Op Inc) in Q3-2014 and 53.7 per cent more than the Rs 1.28 crore (2.2 per cent of Op Inc) in Q4-2013.
Mukta Arts reported depreciation of tangible assets as Rs 7.09 crore (2.3 per cent of Op Inc) in FY-2014, which was 1.3 per cent more than the Rs 6.99 crore (2.5 per cent of Op Inc) in FY-2013. Depreciation for Q3-2014 at Rs1.33 crore (2.3 per cent of Op Inc) was 27.1 per cent more than the Rs 1.05 crore (1.4 per cent of Op Inc) in Q3-2014 and was 32.7 per cent more than the Rs1 crore (1.7 per cent of Op Inc) in Q4-2013.
Operating Results for the quarters were: Q4-2014 – loss of Rs 33.5 crore; Q3-2014 – Profit of Rs 0.92 crore; Q4-2013 loss of Rs 2.49 crore.
BENGALURU: Indian Multi System Operator (MSO) Hathway Cable & Datacom Limited (Hathway) reported a jump of 39.8 per cent in consolidated net Total Operating Income (Op Inc) to Rs 1583.25 crore in FY-2014 as compared to the Rs 1132.52 crore in FY-2013. The company reported a loss of Rs 140.69 crore in the current year as opposed to a PAT of Rs 37.59 crore in the previous fiscal.
Note : (1)100,00,000=100 lakh = 1 crore = 10 million.
(2) Annual figures are on a consolidated basis.
The company’s Operating EBIDTA (without other income) in FY-2014 at Rs 309.8 crore (19.57 per cent of Tot Inc) was 13.1 per cent more than the Rs 273.84 crore (24.3 per cent of Op Inc) in FY-2013. Operating EBIDTA in Q4-2014 at Rs 40.70 crore (13.9 per cent of Op Inc) was 10.8 per cent more than the Rs 36.74 crore (15.65 per cent of Op Inc) in Q3-2014 but less than half (46 per cent) of the year ago quarter’s EBIDTA of Rs 88.48 crore (38.3 per cent of Op Inc).
For Q4-2014, Hathway reported Op Inc of Rs 292.72 crore which was 24.7 per cent higher than the Rs 234.78 crore in the quarter ended 31 December 2013 and 26.6 per cent lower than the Rs 231.18 crore in the year ago quarter Q4-2013.
Let us look at the other FY-2014 and Q4-2014 numbers reported by Hathway.
Hathway reported consolidated Total expense (Tot Exp) in FY-2014 at Rs 1572.75 crore (99.3 per cent of Op Inc), 53.5 per cent higher than FY-2013 Tot Exp of Rs 1024.74 crore (90.5 per cent of Op Inc). Q4-2014 Tot Exp at Rs 313.53 crore (107.1 per cent of Op Inc) was 23.4 per cent more than the Rs 254.03 crore (108.2 per cent of Op Inc) in Q3-2014 and 67.8 per cent more than the Rs 186.89 crore (80.8 per cent of Op Inc) in Q4-2013.
A major expense for Hathway is Pay Channel Cost. The company paid Rs 666.42 crore (42.1 per cent of Op Inc) in FY-2014 towards this head, which was 54.1 per cent more than the Rs 432.51 crore (38.19 per cent of Op Inc) in FY-2013. Hathway paid Rs 115.41 crore (39.4 per cent of Op Inc) in Q4-2014 towards pay channel cost, which was 37.85 per cent more than the Rs 83.72 crore (35.7 per cent of Op Inc) in the immediate trailing quarter and more than double (2.33 times) the Rs 49.50 crore (21.41 per cent of Op Inc) in Q4-2013.
Hathway’s Stock-in-trade purchase (Stock Pur) more than doubled in FY-2014 (went up by 2.23 times) to Rs 13.85 crore (0.87 per cent of Op Inc) from Rs 6.20 crore (0.55 per cent of Op Inc) in FY-2013. Stock Pur in Q4-2014 at Rs 10.25 crore (3.5 per cent of Op Inc) was more than 8 times (8.36 times) the Rs 1.23 crore (0.52 per cent of Op Inc) in Q3-2014 and 6.28 times the Rs 1.63 crore (0.71 per cent of Op Inc) in Q4-2013.
The company’s results during the quarters were: Q4-2014 – Loss of Rs 49.27 crore; Q3-2014 – loss of Rs 36.86 crore: Q4-2013 – PAT of Rs 28.27 crore.
BENGALURU: The Essel group’s education company Zee Learn Limited (Zee Learn) reported a 19.08 per cent hike in net income from operations (Op Inc) to Rs 119.18 crore in FY-2014 from Rs 100.08 crore in FY-2013. The company’s loss during the year was down from Rs 21.22 crore in FY-2013 to Rs1.33 crore in FY-2014.
Note : 100,00,000=100 lakh = 1 crore = 10 million.
For Q4-2014, Zee Learn has reported an Op Inc of Rs 39.04 crore, 72 per cent more than the Rs 22.7 crore in the immediate trailing quarter and 7.2 per cent more than the Rs 36.43 crore in the year ago quarter Q4-2013.
Corresponding loss numbers during the quarters are: Rs 1.73 crore in Q4-2013, Rs 3.38 crore in Q3-2014 and Rs 7.35 crore in Q4-2013.
Let us look at the other FY-2014 and Q4-2014 numbers reported by Zee Learn
Zee Learn’s Total Expenditure in FY-2014 at Rs 115.45 crore (96.87 per cent of Op Inc) was 0.43 per cent more than the Rs 114.96 crore in FY-2013. The company’s Tot Exp in Q4-2014 at Rs 38.18 crore (97.80 per cent of Op Inc) was 59 per cent more than the Rs 24 crore (105.73 per cent of Op Inc) in Q3-2014 and 5.42 per cent less than the Rs 40.37 crore (110.8 per cent of Op Inc) in Q4-2013.
The company spent 39 per cent more in FY-2014 towards purchase of education goods and television content (Ed goods) at Rs 43.57 crore (36.6 per cent of Op Inc) as compared to the Rs 31.36 crore (31.3 per cent of Op Inc) in FY-2013. Zee Learn’s Ed goods expense in Q4-2014 at Rs 15.78 crore (40.41 per of Op Inc) was 63.3 per cent more than the Rs 9.66 crore (42.6 per cent of Op Inc) in Q3-2014 and 4.6 per cent more than the Rs15.08 crore (41.4 per cent of Op Inc) in Q4-2013.
Zee Learn spent Rs 13.71 crore (11.5 per cent of Op Inc) in FY-2014 towards Marketing advertisement and publicity expense (Publicity Exp), which was 18.7 per cent less than the Rs 16.86 crore (17 per cent of Op Inc) in FY-2013. Zee Learn’s Publicity Exp in Q4-2014 at Rs 6.27 crore (16 per cent of Op Inc) was more than the triple (3.23 times) the Rs 1.94 crore (8.6 per cent of Op Inc) in Q3-2014 and 4.8 per cent more than the Rs 5.98 crore (16.4 per cent of Op Inc) in Q4-2013.