ITV

Tag: FY 2014

  • PVR enters the Rs 1000 crore revenue club; FY-2014 PAT up 26 per cent

    PVR enters the Rs 1000 crore revenue club; FY-2014 PAT up 26 per cent

    BENGALURU: Indian motion picture exhibition, production and distribution house PVR Limited (PVR) reported a 26 per cent jump in PAT in FY-2014 to Rs 56.05 crore (4.15 per cent of net total income from operations or Op Inc) in FY-2014 as compared to the Rs 44.50 crore (5.5 per cent of Op Inc) in FY-2013. The company’s Op Inc in FY-2014 increased 66.67 per cent to Rs 1351.23 crore, hence becoming another media and entertainment company to cross the Rs 1000 crore (Rs 10 billion) mark. PVR had reported revenues of Rs 810.70 crore in FY-2013.

     

    PVR’s consolidated revenue for Q4-2014 was Rs 316 crore as compared to Rs 240 crore during the corresponding period of last year, up by 32 per cent. Consolidated EBITDA for the quarter was Rs 35 crore as against Rs 18 crore in the same period last year, up by 92 per cent.

     

    Note :  100,00,000=100 lakh = 1 crore = 10 million.

     

    PVR Limited has three main revenue streams – Movie Exhibition; Movie Production and Distribution and ‘Others’ which includes bowling, gaming and restaurant services.

     

    Let us look at the other Q4-2014 and FY-2014 numbers reported by PVR

     

    PVR reported more than double (2.01 times) operating profit in Q4-2014 at Rs 33.06 crore in Q4-2014 as compared the Rs16.44 crore in Q4-2013. EBIDTA in Q4-2014 was 92 per cent more at Rs 35.18 crore as compared to the Rs 18.36 crore in Q4-2013. However, in Q4-2014, the company has reported a loss of Rs 5.14 crore as compared to a profit of Rs 11.46 crore in Q4-2013.

     

    PVR’s exhibition business revenue grew by 74 per cent in FY-2014 to Rs 1271.43 crore from Rs 730.05 crore in FY-2013. PAT from this business grew 32 per cent in FY-2014 to Rs 57.87 from Rs 43.84 crore in FY-2013.

     

    In Q4-2014, PVR’s exhibition business revenue grew by 29 per cent to Rs 288.96 crore from Rs 223.68 crore in the year ago quarter. PAT during the quarter was 19 per cent down to Rs 7.11 crore from Rs 8.75 crore in Q4-2013.

     

    PVR’s net box office collection including Cinemax numbers went up 13 per cent to Rs 795.16 crore in FY-2014 as compared to the Rs701.26 crore in FY-2013. Net box collection during Q4-2014 was 20 per cent more at Rs 174.23 crore as compared to the Rs 144.28 crore in Q4-2013.

     

    Net Food and Beverage (F&B) revenue in FY-2014 at Rs 298.08 crore was 29 per cent more than the Rs 231.48 crore in FY-2013. IN Q4-2014, F&B income at Rs 71.28 crore was 46 per cent more than the Rs 48.84 crore in Q4-2013.

     

    Sponsorship revenue went up by 44 per cent from Rs 98.61 crore in FY-2013 to Rs 141.86 crore in FY-2014. In Q4-2014, sponsorship revenue went up 48 per cent to Rs 32.85 crore from Rs 22.14 crore in Q4-2013.

     

    Expenditure

     

    Total Expenditure (Tot Exp) in FY-2014 at Rs 1230.22 crore (91.04 per cent of Op Inc) was 65.02 per cent more than the Rs 745.52 crore (91.96 per cent of Op Inc) in FY-2013. Tot Exp in 4-2014 at Rs 315.58 crore (100.43 per cent of Op Inc) was 2.38 per cent more than the Rs 308.24 crore (91.82 per cent of Op Inc) in Q3-2014 and 32 per cent more than the Rs 239.15 crore (101.24 per cent of Op Inc) in Q4-2013.

     

    PVR’s film exhibition cost in FY-2014 at Rs 329.49 crore (24.38 per cent of Op Inc) was 64.4 per cent more than the Rs 200.43 crore (24.72 per cent of Op Inc) in FY-2013. Film exhibition cost in Q4-2014 at Rs 68.6 crore (21.83 per cent of Op Inc) was 17.7 per cent less than the Rs 83.34 crore in Q3-2014 and 14.5 per cent more than the Rs 59.91 crore (25.4 per cent of Op Inc) in Q4-2013.

     

    PVR Ltd chairman and managing director Ajay Bijli said, “FY 2014-15 has started well with strong performance of films like 2 States, Bhootnath Returns, Captain America and the strength of the film line up for the remaining part of the year underpins our confidence that we are on track with our plans for the full year. Our differentiated strategy, heightened brand awareness, and guest engagement tactics will further enhance the customer experience in 2014 and beyond. During the year the company also surpassed an important milestone of 400 screens in India further consolidating its leadership position in multiplex space in India. The merger of Cinemax with PVR also got completed and the management will continue to focus on driving synergies from the combined scale of operations which is reflecting in the market share and the reported results.”

     

    PVR operates multiplex theatres under two mother brands – PVR and Cinemax. In January 2013 the Company acquired 93.19 per cent of controlling stake in Cinemax India, a Cinema Exhibition Company having 135 screens spread across 38 locations in India, through its wholly owned subsidiary Cine Hospitality Private Limited to become the undisputed leader in the cinema exhibition business in India. Post aforesaid acquisition PVR together with Cinemax currently operates a cinema circuit consisting of 421 screens spread across 97 cinemas covering 41 cities in India. The company claims to be the dominant leader with 30-35 per cent share of box office collections for Hollywood movies in India and 20-25 per cent share of Bollywood movies.

     

    PVR claims to commands a phenomenal 70 per cent of the advertising revenue in the cinema medium space and delivers 360 degree exposure & innovative opportunities to brands, both on-screen and off-screen. The Company says that it is associated with the top 100 brands in the country. PVR is expected to add 70-80 screens every year.

     

    PVR has informed BSE that the Board of Directors of the Company at its meeting held on 29 May 2014, inter alia, has recommended payment of Final Dividend @ Rs 2.50 each share subject to the approval by the members of the Company in the forthcoming Annual General Meeting.

  • Sun TV FY-2014 PAT up 5.4 per cent: Board recommends final dividend of 45 per cent

    Sun TV FY-2014 PAT up 5.4 per cent: Board recommends final dividend of 45 per cent

    BENGALURU: Sun TV Network Limited (Sun TV) has declared a repeat of sunny results once again for FY-2014. The company’s consolidated PAT at Rs 748.01 crore (33.64 per cent of income from operations or revenue) was up 5.42 per cent as compared to the Rs 709.56 crore (36.9 per cent of revenue) in FY-2013.

     

    The company’s consolidated income from operations (revenue) at Rs 2223.62 crore was 15.63 per cent more than the Rs 1923 crore in FY-2013.

     

    The company’s income from operations figures include income of Rs 105.53 crore (4.72 per cent of revenue) and costs of Rs 142.06 crore (6.39 per cent of revenue) from its IPL franchisee cricket team Sun Risers Hyderabad in FY-2014.The company has paid Rs 85.5 crore (3.85 per cent of revenue) IPL franchisee fees that Sun TV has paid for its IPL in FY-2014.

     

    The company’s press release says that its subscription revenues have maintained a robust y-o-y and q-o-q growth of 25 per cent and that its radio broadcasting operations have maintained a y-o-y growth of 18 per cent and have reported 18 per cent PAT margins.

     

    Sun TV Network Ltd has informed BSE that the board of directors of the company at its meeting held on 23 May 2014, inter alia, have recommended a final dividend of Rs 2.25 per share (45 per cent). This is in addition to the interim dividend of Rs 2.25 per share (45 per cent), Rs 2.50 per share (50 per cent) and Rs 2.50 per share (50 per cent) declared at the board meeting held on 2 August 2013, 8 November 2013 and 7 February 2014 respectively.  This takes the total dividend payout by the company to 190 per cent per equity share of Rs 5 in FY-2014.

     

     

    Let us look at the other numbers reported by Sun TV for FY-2014 and Q4-2014

     

    Consolidated Numbers

     

    Consolidated Total Expense in FY-2014 at Rs 1192.19 crore (53.61 per cent of revenue) was 24.76 per cent more than the Rs 955.59 crore (49.69 per cent of revenue) in FY-2013.

     

    The company’s consolidated cost of revenue (COR) in FY-2014 at Rs 215.81 crore (9.71 per cent of revenue) was 17.01 per cent more than the Rs 184.43 crore in FY-2013.

     

    Sun TV’s consolidated depreciation and amortisation (DAA) in FY-2014 at Rs 478.28 crore (21.51 per cent of revenue) was 8.27 per cent more than the Rs 441.73 crore (22.97 per cent of revenue) in FY-2013.

     

    Consolidated other expenditure at Rs 194.06 crore (8.71 per cent of revenue) was 49.21 per cent more than the Rs 130.06 crore (6.76 per cent of revenue) in FY-2013.

     

    The company had other income on a consolidated basis in FY-2014 at Rs 86.61 crore which was 19.94 per cent more than the Rs 72.21 crore in FY-2013.

     

    Standalone numbers

     

    During the last quarter (Q3-2014) Sun TV had passed the Rs 500 crore per quarter mark for the first time by clocking standalone revenue of Rs 503.84 crore. In Q4-2014, the company has improved upon this by another 2.33 per cent to register standalone revenue of Rs 520.18 crore, the figure betters the year ago quarter Q4-2013 revenue of Rs 472.67 crore by 10.05 per cent.

     

    Standalone income from operations for FY-2014 at Rs 2096.78 crore was 15.36 per cent more than the Rs 1817.62 crore in FY-2013.

     

    Standalone PAT for the FY-2014 at Rs 716.96 crore (34.19 per cent of revenue) was 4.92 per cent more than the Rs 683.34 crore (37.60 per cent of revenue) in FY-2013.

     

    Standalone PAT for Q4-2014 at Rs 197.57 crore (38.98 per cent of revenue) was 6.34 per cent more than the Rs 185.79 crore (36.55 per cent of revenue) in the immediate trailing quarter and 11.31 per cent more than the Rs 177.50 crore (37.55 per cent of revenue) in Q4-2014.

     

    The company’s standalone cost of revenue (COR) in FY-2014 at Rs 185.14 crore (8.83 per cent of revenue) was 19.32 per cent more than the Rs 155.16 crore (8.54 per cent of revenue) in FY-2013. Standalone COR in Q4-2014 at Rs 43.51 crore (8.36 per cent of revenue) was (-18.95) per cent lower than the Rs 53.68 crore (8.54 per cent of revenue) in Q3-2014 and (-8.34) per cent lower than the Rs 47.47 crore in Q4-2013.

     

     

    Sun TV’s standalone depreciation and amortisation (DAA)  in FY-2014 at Rs 453.34 crore (21.62 per cent of revenue) was 9.72 per cent more than the Rs 413.18 crore (22.73 per cent of revenue) in FY-2013. Q4-2014 DAA at Rs 112.33 crore (21.59 per cent of revenue) was 5.91 per cent more than the Rs 106.06 crore (20.86 per cent of revenue) in Q3-2014 and 10.46 per cent more than the Rs 101.69 crore (21.51 per cent of revenue) in Q4-2013.

     

     

    Standalone other expenditure (OE) in FY-2014 at Rs 170.68 crore (8.14 per cent of revenue) was 57.37 per cent more than the Rs 108.46 crore (5.97 per cent of revenue) in FY-2013. OE in Q4-2014 at Rs 26.01 crore (5 per cent of revenue) was (-23.99) per cent lower than the Rs 32.44 crore (6.73 per cent of revenue) in Q3-2014 and (-19.17) per cent lower than the Rs 32.18 crore (6.18 per cent of revenue) in Q4-2014.

     

    The company had other standalone income of Rs 72.91 crore in FY-2014 which was 19.94 per cent more than the Rs 72.21 crore in FY-2013. Standalone other income in Q4-2014 at Rs 13.17 crore was (-11.31) per cent lower than the Rs 14.85 crore in Q3-2014 and (-39.11) per cent lower than the Rs 21.63 crore in Q4-2013.

     

    Sun TV is one of the largest television broadcasters in India that operates satellite television channels across four languages of Tamil, Telugu, Kannada and Malayalam and has the largest private FM radio network in India under brand 93.5 Red FM. As mentioned above, it also owns the IPL franchisee Sun Risers Hyderabad.

  • Q4-2014: Raj TV board recommends 5 per cent final dividend for FY-2014

    Q4-2014: Raj TV board recommends 5 per cent final dividend for FY-2014

    Updated: 03:58 PM

     

    BENGALURU: The shareholders of Raj Television Network (Raj TV) have further reason to cheer. The board has recommended a final dividend of 5 per cent or Rs 0.25 per equity share of face value of Rs 5 each, in addition to the earlier interim dividend of 5 per cent or Rs 0.50 per equity share on the earlier face value of Rs 10 before the split and issue of bonus shares during FY-2014. The company had issued bonus shares in the ratio of 1:1 after the earlier interim dividend in FY-2014.

     

    Raj TV reported a 17.68 per cent higher Income from Operations (Op Inc) in FY-2014 at Rs 79.47 crore as compared to the Rs 67.53 crore in FY-2013. However, Op Inc in Q4-2014 was (-28.13) per cent lower at Rs 17.91 crore than the Rs 24.92 crore in the immediate trailing quarter Q3-2014, and was 2.52 per cent more than the Rs17.47 crore of the year ago quarter Q4-2013.

     

    Note: (1) Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million.

     

    Note: (2) The results in this report are standalone.

     

     Let us look at the other results reported by Raj TV for FY-2014 and Q4-2014

     

    PAT in FY-2014 at Rs12.91 crore (16.25 per cent of Op Inc) was 39.05 per cent higher than the PAT of Rs 9.29 crore (13.75 per cent of Op Inc) in FY-2013. In Q4-2014, PAT at Rs1.01 crore (5.62 per cent of Op Inc) was a little more than a fifth or (-79.82) per cent lower than the Rs 4.98 crore (20.01 per cent of Op Inc) in Q3-2014, but almost double (88.91 per cent more than) the Rs 0.53 crore (3.05 per cent of Op Inc) of Q4-2013.

     

    Raj TV’s Total Expense (Tot Exp) in FY-2014 at Rs 59.97 crore was 9.55 per cent more than the Rs 54.74 crore in FY-2014. Tot Exp in Q4-2014 at Rs15.45 crore was (-16.85) per cent lower than the Rs18.58 crore in Q3-2014 and 1.54 per cent more than the Rs15.22 crore in Q4-2013.

     

    Employee Benefits Expense (EBE) and Administrative and other Expenses (Admin exp) are two major expense heads at Raj TV. While EBE in Q4-2014 was substantially higher y-o-y despite almost similar Op Inc, Admin Exp in Q4-2014 was very high q-o-q, despite Raj TV’s Op Inc being much higher in Q3-2014 as compared to Q4-2014.

     

    Employee Benefits Expense in FY-2014 at Rs 17.60 crore (22.15 per cent of Op Inc) was 50.78 per cent more than the Rs11.68 crore (17.29 per cent of Op Inc) in FY-2013. EBE in Q4-2014 at Rs 4.74 crore (26.47 per cent of Op Inc) was (-31.1) per cent lower than the Rs 6.88 crore (27.61 per cent of Op Inc) and 41.02 per cent more than the Rs 3.36 crore (19.24 per cent of Op Inc) in Q4-2013.

     

    Administrative and other expense in FY-2014 at Rs 14.69 crore (18.48 per cent of Op Inc) was 32.46 per cent more than the Rs11.09 crore (16.42 per cent of Op Inc). During Q4-2014, Admin exp at Rs 4.41 crore (24.6 per cent of Op Inc) was 40.67 per cent more than the Rs 3.13 crore (12.57 per cent of Op Inc) in Q3-2014 and 2.2 per cent more than the Rs 4.31 crore (24.68 per cent of Op Inc) in Q4-2013.

     

    Raj TV has reported a 76.1 per cent increase in Long Term Borrowings (non-current liabilities) in FY-2014 at Rs 12.49 crore as compared to the Rs 7.05 crore in FY-2013. Also, in its current liabilities the company has reported a 3.52 times increase in short term borrowings in FY-2014 at Rs 24.97 crore as compared to the Rs 7.09 crore in FY-2013. The company’s trade receivables in FY-2014 at Rs 58.27 crore has gone up by 36.15 per cent as compared to the Rs 42.8 crore in FY-2013.

     

    Raj TV’s Fixed Assets in FY-2014 has gone up by 77.60 per cent to Rs113.99 crore as compared to the Rs 64.18 crore in FY-2013. Its inventories in FY-2014 have gone up by almost 6 times (5.76 times) to Rs 11.65 crore from Rs 2.02 crore in FY-2013. Its trades payables has gone down in FY-2014 to Rs 2.63 crore from Rs 3.48 crore in FY-2013.

     

    The company reported earnings per share (EPS) of Rs 9.43 per equity share in FY-2014 and Rs 0.19 in Q4-2014. 

  • Marico Q4-2014 Ad spends down 9 per cent; 6 per cent down in FY-2014

    Marico Q4-2014 Ad spends down 9 per cent; 6 per cent down in FY-2014

    BENGALURU:  Indian consumer products in beauty and wellness space company Marico spent (-9.08) per cent less at Rs 121.91 crore (11.38 per cent of Operating Income or Op Inc) in Q4-2014 towards advertisement and sales promotion (Ad & SP Exp) as compared to the Rs 134.08 crore (11.17 per cent of Op Inc)  in Q3-2014. Further, Marico’s Ad & SP Exp in Q4-2014 was also lower by (-3.0) per cent as compared to the Rs 125.68 crore (12.59 per cent of Op Inc) in the year ago quarter Q4-2013.

    During FY-2014, the company’s Ad & SP Exp was down (-6.15) per cent at Rs 561.17 crore (11.97 per cent of Op Inc) as compared to the Rs 597.94 crore (13.01 per cent of Op Inc) in FY-2013. The company’s average Ad & Sp Exp as percentage of Op Inc over nine quarters starting Q4-2012 until Q4-2014 is 12.48 per cent, and the current year’s Ad & SP Exp throughout the year as well in Q4-2014 are lower than that average.

    Notes: 100,00,000=100 Lakhs = 1 crore

    Marico’s Op Inc for Q4-2014 was (-10.71) per cent lower at Rs 1072.06 crore as compared to the Rs 1200.69 crore in Q3-2014. Y-o-y, Op Inc for Q4-2014 was 7.36 per cent more than the Rs 998.59 crore in Q4-2014.

    Please refer to Fig 1 and Fig 1A below:

    In line with the consumer goods industry trends, the company’s PAT in Q4-2014 has dropped by (-34.42) per cent to Rs 88.77 crore from Rs 135.37 crore in Q3-2014. However, y-o-y, Marico’s PAT in Q4-2014 was 5.85 per cent more than the Rs 83.86 crore in Q4-2013.

    Across the nine quarters in question, PAT trend is upwards, both in terms of absolute rupee value and as percentage of Op Inc.  PAT as per cent of Op Rev also trends upwards between three financial years staring FY-2012 to FY-2014. Please refer to Fig 2 and Fig 2A below.

    Marico says that its business has shown steady recovery in volume growths with sustained improvements in market shares. In India, due to the weak demand environment, the growth rates of various segments have come down. This has impacted the company’s growth rates as well.

    The company entered the Hair Colour category by introducing Livon Conditioning Cream Colour. The initial retailer and consumer feedback across the board has been positive.

    To commemorate 25 years since incorporation, the company has declared a one-time Silver Jubilee Third Interim Dividend of 175 per cent (Rs 1.75 per share) on the equity share capital of Rs 64.48 crore at the meeting of its Board of Directors held in March 2014.

    Marico Managing Director & CEO Saugata Gupta said, “Despite the challenges in the environment during FY1-2014, it has been a satisfying year with Marico’s brands gaining shares across most of the portfolio. In Q4 we have been able to get back to healthy levels of growth in key categories and expect to see a gradual increase in momentum in the coming quarters.

    Here is what the company has to say about its various products and brands:

    Parachute coconut oil in rigid packs (the focus part of the Parachute portfolio) recorded a volume growth of about 10 per cent during the quarter. Q4FY14 has shown a recovery in volume growth from an abnormally low growth in Q3FY14. During the 12 month period ended March 2014, Parachute along with Nihar maintained its market share at 56 per cent.

    The Saffola refined edible oils franchise grew by about 11 per cent in volume terms during Q4FY14 as compared to Q4FY13, reporting a continuous improvement in performance. The brand has been able to reverse a softer performance in 2012-13 and accelerate in the second half of the year based on its effective equity building communication. The brand maintained its leadership position in the super premium refined edible oils segment with a market share of about 55 per cent during the 12 months ended March 2014.

    In the breakfast cereals, Saffola Oats has increased its market share by 24 bps to 14 per cent and has retained its no two position. Saffola Oats crossed Rs 50 crore ($ 8 million) landmark in top line during the year under review. The company expects to continue the robust growth in Oats.

    Marico’s hair oil brands (Parachute Advansed, Nihar Naturals and Hair & Care) grew by 5 per cent in volume terms during Q4FY14 over Q4-2013. Nihar Shanti Amla continues to gain market share and achieved a volume market share of about 30 per cent for the 12 months ended March 2014 in the Amla hair oils category (MAT FY13: 25 per cent). Niha Shanti Amla is now a Rs 250 crore ($ 40 million) brand.

    Due to the challenging environment, the body lotion category growth rate has fallen to single digit. Parachure Advansed Body Lotion has maintained its no three position with a market share of six per cent. The company expects the brand to be back on track next year.

    The Company says that it launched India’s first unique multi-dimensional ‘spray-on’ body lotion during the quarter. The variant has been launched in a 100ml SKU with an introductory price ofRs. 99.

    The acquired portfolio of youth brands grew by 16 per cent during the year over FY13. Due to inflationary trend and restricted spends on discretionary products, the category growth rates of Post Wash Serums, Hair Gels/Creams and Deodorants have come off considerably. This coupled with a high base in Q4FY13 (due to re-launch of Zatak) has led to a flat performance of the portfolio in Q4-2014.

    Set Wet and Zatak increased its market share marginally in the deodorants segment to five per cent for the 12 months ended March 2014, in this crowded category. In February, Set Wet launched a new variant Set Wet Infinity, a non-aerosol perfume spray with ‘no-gas’ formulation. The launch will be supported by an extensive media campaign during IPL7. Set Wet (Deodorants and Gels) is now a Rs 100 crore ($ 17 million) brand with a strong equity and growing consumer franchise.

    This youth portfolio will also witness a much higher interaction with overseas portfolio thereby leveraging scale and innovation synergies.

    Sales in Modern Trade (nine per cent of the domestic turnover) continued its good run and grew by 16 per cent in

    Q4-2014 led by Saffola and coconut oil.

    Marico’s rural sales continue to clock a faster pace of growth than its urban sales. The continued focus on distribution expansion in rural markets has pushed FY-2014 rural sales to more than 30 per cent of total Indian FMCG sales.