ITV

Tag: Housefull 3

  • Eros profit grows despite lesser releases, demonetization

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported 7.9 percent growth of consolidated profit after tax attributable (PAT) to Eros shareholders for the year ended 31 March 2017 (FY-17, current year, fiscal) despite releasing lesser films and demonetisation as compared to the previous year. Eros consolidated (PAT) for FY-17 was Rs 2,432.9 million (18.4 percent of Income from Operations) and Rs 2,386.7 million (15.1 percent of Income from Operations) for FY-16.The company’s Income from Operations in FY-17 dropped 11.6 percent to Rs 13,997 million from Rs15,826.8 million in FY-16.

    The company released a total of 44 films including 5 high budget, 10 medium budget and 29 low budget films in FY-17 as compared to a total of 63 films including 6 high budget, 16 medium budget and 41 low budget films during the FY-16. In its investor presentation for FY-17, the company says Theatrical Revenues contributed – 42.5 percent, Overseas Revenues – 26.4 percent and Television & Others – 31.1 percent as a percentage of Income from Operations.

    Eros reveals that Theatrical revenues in FY-17 included releases of ‘Housefull 3’, ‘Ki & Ka’, Baar Baar Dekho, Banjo, ‘Happy Bhaag Jayegi’, ‘Rock On 2’, ‘Nil Battey Sannata’, Kahaani 2 (overseas), Dishoom and regional films include Sardaar Gabbar Singh (Telugu), 24 (Tamil), Janatha Garage (Telugu), C/O. Saira Banu (Malayalam), Engitta Modhathe (Tamil), Bibaho Diaries (Bengali),

    Singham 3 (Tamil), ‘Baghtos Kay Mujra Kar’, Chaar Sahibzaade2 (Punjabi) etc.

    Total Income reduced 11.1 percent to Rs 14,452.8 million in FY-17 from Rs 16,257 million in the previous year. EBIT (Earnings before interest and taxes) increased 6.1 percent to Rs 3,767.5 million (26.9 percent of Income from Operations) in FY-17 from Rs 3,549.3 million (15.1 percent of Income from Operations).

    Company Speak

    Eros executive vice chairman and managing director Lulla said: “It is a matter of satisfaction that we have ended the fiscal year on a steady note despite the impact of demonetization on theatrical revenues in H2 of FY-17. This performance has been enabled by Eros’ consistent pre‐sales strategy which helps us de‐risk our business, effective monetization of our 2000 plus films library and a strong regional film strategy during the year.

    The Indian film sector has attracted a lot of interest from international majors to build their film libraries in the recent past and as a result has driven up value of the Indian content. Eros’ key asset – a market leading content library is a major beneficiary of this trend which is only likely to become stronger. At the same time, in order to effectively manage the cost of our future content,

    the company has taken active steps to develop its own intellectual properties over the past 2 years. The launch of Trinity Pictures, our film label for franchise films, investments in our joint venture Colour Yellow Productions and identifying the right films to sequel from our film library are concrete steps taken in this direction. We are excited about these developments and are

    looking forward to FY-18 which will see the fruition of this strategy in a significant manner.

    We are proud to have established a company with leadership position in a market that continues to witness strong growth and are confident that with our new initiatives, we will continue to enhance our market position.”

    Let us look at the other numbers reported by Eros

    Simple EBIDTA including other income in FY-17 increased by 6.1 percent to Rs 3,863.3 million (27.6 percent margin of Income from Operations) from Rs 3644 million (23 percent of Income from Operations).

    Consolidated Net Finance cost in the current year increased 61 percent to Rs 545.2 million from Rs 338.6 million in the previous year.

    Total Expenditure in FY-17 declined 13.9 percent to Rs 11,230.5 million (80.2 percent of Income from Operations) from Rs 13,046.3 million (82.4 percent of Income from Operations) in FY-16. The company’s Films rights costs including amortisation costs in FY-17 declined 12.5 percent to Rs 7,848.4 million (56.1 percent of Income from Operations) from Rs 8,964.8 million (56.6 percent of Income from Operations) in FY-16.

    Employee Benefit Expense in the current year increased 25.5 percent to Rs 705.3 million (5 percent of Income from Operations) from Rs 561.9 million (3.6 percent of Income from Operations) in FY-16. Other expenses in FY-17 increased by 14.6 percent to Rs 2006.3 million (14.3 percent of Income from Operations) from Rs 1,751.2 million (11.1 percent of Income from Operations) in the corresponding of the previous year.

  • Q1-17: Diversified mix boosts Eros revenue

    Q1-17: Diversified mix boosts Eros revenue

    BENGALURU: The Sunil Lulla-led Eros International Media Limited (Eros) reported 22.2 percent increase in total revenue including other income (TR) for the quarter ended 30 June 2016 (Q1-17, current quarter) as compared to the corresponding quarter of the previous year (Q1-16).

    Eros reported lower revenue of Rs 411.08 crore in the current quarter as compared to total revenue of Rs 480.59 crore in Q1-16, but considering the one-time sale of digital rights of Rs. 1,44.20 crore, its revenue for Q1-16 works out to Rs 336.39 crore. The company says that a diversified movie mix that included worldwide releases of
    Housefull 3, Ki and Ka, Nil Battey Sannata, Sardaar Gabbar Singh (Telugu), 24 (Tamil), amongst other releases helped in the double-digit increase in revenue.

    Total comprehensive income including other income after taxes in Q1-17 increased 42.9 percent year-over-year (y-o-y) to Rs 73.87 crore (18percent margin) from Rs 51.70 crore (15.4 percent margin on Rs 336.39 crore, 10.9 percent margin on TR).

    Finance cost in the current quarter increased 9.7 percent y-o-y to Rs 9.40 crore from Rs 8.57 crore. Total Expenditure in Q1-17 declined 14.4 percent to Rs 329.37 crore from Rs 384.94 crore in Q1-16. Employee Benefit Expense in the current quarter increased 52.6 percent to Rs 17.50 crore from Rs 11.54 crore in Q1-16.

    The company also had a diversified revenue mix comprising Theatrical Revenues – 52.1%, Overseas Revenues – 17.2% and Television & Others – 30.7% as a percentage of Income from Operations.

    Company speak

    Commenting on the performance of Q1-17, Eros, executive vice chairman & MD Sunil Lulla said, “Fiscal 2017 has begun on an excellent note for Eros International with notable progress on operational and strategic parameters. Our approach towards investing in high quality portfolio of film content, which is greenlit at appropriate budgets and is monetized across various revenue streams, continues to yield positive results.”.

    “This year is also marked by strong pre-sales of majority of our film slate including, Dishoom, Baar Baar Dekho, Rock On 2, Banjo as well as regional films to leading satellite channels, as a part of our de-risking strategy and ensuring revenue and cash flow visibility,” Lulla said.

    “Q2-17 has also begun well with the power packed performance of Dishoom and Happy Bhaag Jayegi and our Telugu release Janatha Garage is heading to be the biggest Telugu grosser of this year,” Lulla added.

  • Q1-17: Diversified mix boosts Eros revenue

    Q1-17: Diversified mix boosts Eros revenue

    BENGALURU: The Sunil Lulla-led Eros International Media Limited (Eros) reported 22.2 percent increase in total revenue including other income (TR) for the quarter ended 30 June 2016 (Q1-17, current quarter) as compared to the corresponding quarter of the previous year (Q1-16).

    Eros reported lower revenue of Rs 411.08 crore in the current quarter as compared to total revenue of Rs 480.59 crore in Q1-16, but considering the one-time sale of digital rights of Rs. 1,44.20 crore, its revenue for Q1-16 works out to Rs 336.39 crore. The company says that a diversified movie mix that included worldwide releases of
    Housefull 3, Ki and Ka, Nil Battey Sannata, Sardaar Gabbar Singh (Telugu), 24 (Tamil), amongst other releases helped in the double-digit increase in revenue.

    Total comprehensive income including other income after taxes in Q1-17 increased 42.9 percent year-over-year (y-o-y) to Rs 73.87 crore (18percent margin) from Rs 51.70 crore (15.4 percent margin on Rs 336.39 crore, 10.9 percent margin on TR).

    Finance cost in the current quarter increased 9.7 percent y-o-y to Rs 9.40 crore from Rs 8.57 crore. Total Expenditure in Q1-17 declined 14.4 percent to Rs 329.37 crore from Rs 384.94 crore in Q1-16. Employee Benefit Expense in the current quarter increased 52.6 percent to Rs 17.50 crore from Rs 11.54 crore in Q1-16.

    The company also had a diversified revenue mix comprising Theatrical Revenues – 52.1%, Overseas Revenues – 17.2% and Television & Others – 30.7% as a percentage of Income from Operations.

    Company speak

    Commenting on the performance of Q1-17, Eros, executive vice chairman & MD Sunil Lulla said, “Fiscal 2017 has begun on an excellent note for Eros International with notable progress on operational and strategic parameters. Our approach towards investing in high quality portfolio of film content, which is greenlit at appropriate budgets and is monetized across various revenue streams, continues to yield positive results.”.

    “This year is also marked by strong pre-sales of majority of our film slate including, Dishoom, Baar Baar Dekho, Rock On 2, Banjo as well as regional films to leading satellite channels, as a part of our de-risking strategy and ensuring revenue and cash flow visibility,” Lulla said.

    “Q2-17 has also begun well with the power packed performance of Dishoom and Happy Bhaag Jayegi and our Telugu release Janatha Garage is heading to be the biggest Telugu grosser of this year,” Lulla added.

  • Box Office: Housefull 3 does well amidst other disastrous releases

    Box Office: Housefull 3 does well amidst other disastrous releases

    MUMBAI: Te3n opens to a poor response only to do a little well over the weekend to drop again as the new week begins. The film, which opened weak, improved marginally on Saturday and Sunday to end its opening weekend withRs 10.7 crore. The Monday drop being inevitable, the prospects are not bright.

    *Do Lafzon Ki Kahani is poor and fails to draw the audience. While Randeep Hooda is accepted in certain characters, accepting him playing a romantic hero is rather asking for too much. To add to that, he and Kajal Agarwal make no chemistry. This love story spells disaster. The film collected a poor Rs 2.2 crore for its opening weekend.

    *Houseful 3 did very well to end its first week with an impressive Rs 80.4 crore. The film has also been maintaining well during its second weekend and promises to emerge a safe project.

    *Waiting collects Rs 50 lakh in its second week to take its two week tally to Rs 2.4 crore.

    *Phobia collects Rs 10 lakh in its second week to take its two week total to Rs 3.05 crore.

    *Sarbjit adds Rs 90 lakh in its third week to take its three week total to Rs 26.95 crore.

    *Project Marathwada, Veerappan and Fredrick prove total loss adventures.

  • Box Office: Housefull 3 does well amidst other disastrous releases

    Box Office: Housefull 3 does well amidst other disastrous releases

    MUMBAI: Te3n opens to a poor response only to do a little well over the weekend to drop again as the new week begins. The film, which opened weak, improved marginally on Saturday and Sunday to end its opening weekend withRs 10.7 crore. The Monday drop being inevitable, the prospects are not bright.

    *Do Lafzon Ki Kahani is poor and fails to draw the audience. While Randeep Hooda is accepted in certain characters, accepting him playing a romantic hero is rather asking for too much. To add to that, he and Kajal Agarwal make no chemistry. This love story spells disaster. The film collected a poor Rs 2.2 crore for its opening weekend.

    *Houseful 3 did very well to end its first week with an impressive Rs 80.4 crore. The film has also been maintaining well during its second weekend and promises to emerge a safe project.

    *Waiting collects Rs 50 lakh in its second week to take its two week tally to Rs 2.4 crore.

    *Phobia collects Rs 10 lakh in its second week to take its two week total to Rs 3.05 crore.

    *Sarbjit adds Rs 90 lakh in its third week to take its three week total to Rs 26.95 crore.

    *Project Marathwada, Veerappan and Fredrick prove total loss adventures.

  • Nickelodeon strengthens Sonic with ‘Shiva’; plans 70-80 hrs of original content

    Nickelodeon strengthens Sonic with ‘Shiva’; plans 70-80 hrs of original content

    MUMBAI: Viacom 18’s children’s network Nickelodeon has made a bold move by placing Nick’s iconic teen adventure program, Shiva as part of Sonic’s programming henceforth. The change is in line with Nickelodeon’s need for a strong second channel. “The idea is that in a couple of years Sonic grows to a market share that Viacom18 can boast of two strong kids channels within its network,” says Viacom18’s kids cluster EVP and business head Nina Elavia Jaipuria.

    Fresh episodes of the popular teen adventure comedy series that soared to fame immediately after its launch in December 2015 will now air on Sonic, Nickelodeon’s sister channel that caters to pre-teens, teens and young adults. When asked if the network has measured the set back this move may cost the show’s viewership,Jaipuria states,“Looking at it from the show’s perspective, we have grown Shiva to an extent that it has loyal viewers, whom we hope to take to Sonic.  Because we are not dependent on any one show, we are expecting Ninja Hatori, Shaun The Sheep, Oggy and the Cockroaches and Motu Patlu to take care of Nick. We are hopeful that in spite of Shiva, Nick will retain its position in the ratings chart.” “Shiva lovers who are used to seeing the show on Nick and want to watch new episodes will have to come on Sonic,” Jaipuria added.  

    To carry this bold move forward Nickelodeon has also planned for an aggressive mass media campaign that will not only span across Viacom 18’s own networks, but other broadcasting network as well. “Not just Viacom18 or Nick as a network but we are looking at Star India, Sab TV and Zee TV to take this news to as many households as possible. Its is important to create an awareness that Shiva has moved from  Nick to Sonic,” Jaipuria revealed while speaking on the marketing initiatives.

    In fact, in order to not dilute this communication, the Network is withholding from launching any new shows this summer, though more new and original characters are in making in the creative factory for the latter part of the year. However, the marketing initiative will also speak of the new episodes of the major shows that are to hit the screens this summer.

    After mass media, print and radio, the network will also look at heavy engagement outside of television, Jaipuria shares.  Nickelodeon has partnered with malls like Infiniti, Pantaloons, Funcity, etc., to expand its on ground footprint. Van activations are also in store in about 25 tier II and tier III towns and cities for a month. Marketing initiatives will also be present in cinemas during launches of Jagga Jasoos and Housefull 3 that are soon to release.  

    The programming timeline vacuum left by Shiva in Nickelodeon will be filled up by brand new episodes of Ninja Hattori, Motu Patlu, Oggy and the Cockroaches and Shaun The Sheep. Apart from this, the network also has plans to release the full length feature Motu Patlu In Double Trouble, the 10th movie in line after a nine movie marathon on digital. Nickelodeon plans to go all guns blazing in promoting the fresh content including innovative watch and win contests, which will also have a digital leg to it. Overall there will 70 to 80 hours of original content on Nickelodeon in its summer programming.

    With such a strong summer line up, Nickelodeon expects to sustain Nick’s number one position in the genre, while at the same time grow Sonic with Shiva. “We have always been a  very brave franchise. We have taken all the risks possible. We have started off by creating original shows in India without knowing if they will work or not. But we are risk takers and will go on to create new trends like that,” Jaipuria signs off as industry wonders if this disruptive strategy will work for Nickelodeon like past disruptions always have.

  • Nickelodeon strengthens Sonic with ‘Shiva’; plans 70-80 hrs of original content

    Nickelodeon strengthens Sonic with ‘Shiva’; plans 70-80 hrs of original content

    MUMBAI: Viacom 18’s children’s network Nickelodeon has made a bold move by placing Nick’s iconic teen adventure program, Shiva as part of Sonic’s programming henceforth. The change is in line with Nickelodeon’s need for a strong second channel. “The idea is that in a couple of years Sonic grows to a market share that Viacom18 can boast of two strong kids channels within its network,” says Viacom18’s kids cluster EVP and business head Nina Elavia Jaipuria.

    Fresh episodes of the popular teen adventure comedy series that soared to fame immediately after its launch in December 2015 will now air on Sonic, Nickelodeon’s sister channel that caters to pre-teens, teens and young adults. When asked if the network has measured the set back this move may cost the show’s viewership,Jaipuria states,“Looking at it from the show’s perspective, we have grown Shiva to an extent that it has loyal viewers, whom we hope to take to Sonic.  Because we are not dependent on any one show, we are expecting Ninja Hatori, Shaun The Sheep, Oggy and the Cockroaches and Motu Patlu to take care of Nick. We are hopeful that in spite of Shiva, Nick will retain its position in the ratings chart.” “Shiva lovers who are used to seeing the show on Nick and want to watch new episodes will have to come on Sonic,” Jaipuria added.  

    To carry this bold move forward Nickelodeon has also planned for an aggressive mass media campaign that will not only span across Viacom 18’s own networks, but other broadcasting network as well. “Not just Viacom18 or Nick as a network but we are looking at Star India, Sab TV and Zee TV to take this news to as many households as possible. Its is important to create an awareness that Shiva has moved from  Nick to Sonic,” Jaipuria revealed while speaking on the marketing initiatives.

    In fact, in order to not dilute this communication, the Network is withholding from launching any new shows this summer, though more new and original characters are in making in the creative factory for the latter part of the year. However, the marketing initiative will also speak of the new episodes of the major shows that are to hit the screens this summer.

    After mass media, print and radio, the network will also look at heavy engagement outside of television, Jaipuria shares.  Nickelodeon has partnered with malls like Infiniti, Pantaloons, Funcity, etc., to expand its on ground footprint. Van activations are also in store in about 25 tier II and tier III towns and cities for a month. Marketing initiatives will also be present in cinemas during launches of Jagga Jasoos and Housefull 3 that are soon to release.  

    The programming timeline vacuum left by Shiva in Nickelodeon will be filled up by brand new episodes of Ninja Hattori, Motu Patlu, Oggy and the Cockroaches and Shaun The Sheep. Apart from this, the network also has plans to release the full length feature Motu Patlu In Double Trouble, the 10th movie in line after a nine movie marathon on digital. Nickelodeon plans to go all guns blazing in promoting the fresh content including innovative watch and win contests, which will also have a digital leg to it. Overall there will 70 to 80 hours of original content on Nickelodeon in its summer programming.

    With such a strong summer line up, Nickelodeon expects to sustain Nick’s number one position in the genre, while at the same time grow Sonic with Shiva. “We have always been a  very brave franchise. We have taken all the risks possible. We have started off by creating original shows in India without knowing if they will work or not. But we are risk takers and will go on to create new trends like that,” Jaipuria signs off as industry wonders if this disruptive strategy will work for Nickelodeon like past disruptions always have.

  • Q3-2016: Eros revenue down

    Q3-2016: Eros revenue down

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported a 31.7 per cent YoY drop in consolidated Total Income from operations (TIO) at Rs 335.35 crore in the quarter ended 31 December, 2015 (Q3-2016, current quarter). The company had reported TIO of Rs 490.73 crore in the corresponding prior year quarter. Operating revenue in the current quarter declined 33.6 per cent as compared to Rs 504.91 crore in the immediate trailing quarter (quarter on quarter or QoQ).

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore
    All numbers in this are consolidated unless stated otherwise.

    Profit after tax (PAT) in the current quarter declined to almost a third (down 65.5 per cent) year on year (YoY) to Rs 37.77 crore (11.3 per cent margin) as compared to Rs 109.34 crore (22.3 per cent margin) and fell 58.2 per cent as compared to to Rs 90.30 crore (17.9 per cent margin) in the immediate trailing quarter.

    The company says its revenues vary quarter on quarter based on release slate. In Q3-2016, there was only one high budget film compared to three high budget films in Q3-2015 with only partial revenues of Bajirao Mastani.

    In Q3-2016, Eros says that one high budget, four medium and 10 low budget films were released as against three high budget, one medium and eight low budget movies in Q3-2015. During the quarter, 15 movies were released consisting of seven Hindi and five Tamil/Telugu films and three Regional film as compared to 12 films during Q3-2015, which included eight Hindi and four Tamil/Telugu films.

    Eros further informs that apart from the new release slate, a significant part of its revenue is contributed by monetisation of its valuable film library, and generally has a second half skew. Since catalogues revenues have longer payment cycles associated with them the company has decided to defer sales for couple of quarters until its receivables position normalises.

    Receivables

    As on 31 December, 2015, Eros says that its total receivables stood at Rs 6,358 million as compared to Rs 6,300 million as on 30 September, 2015. Receivables not due as of 31 December, 2015 was Rs 339.3 crore as compared to Rs 389.9 crore as on 30 September, 2015. Receivables over 365 days old were Rs 38.8 crore as of 31 December, 2015.

    Between 1 January, 2016 to 7 February, 2016, the company has seen a further collection of Rs 52.5 crore of receivables of the period up to 31 December, 2015. The company says that it remains confident to bring the overall receivables down to Rs 525 crore by the end of FY-2016.

    Company speak

    Eros executive vice chairman and managing director Sunil Lulla said, “I am pleased to announce yet another profitable quarter from Eros International driven by the blockbuster success of Bajirao Mastani and a string of regional releases. Our results for the nine months ended December 2015 reflect the strong performance of our film slate with total domination of the box office charts withBajrangi Bhaijaan, Tanu Weds Manu Returns, Welcome Back, etc.; and strong television, ancillary and overseas revenues to complement the box office. We are very proud that our films have been dominating the Bollywood awards declared for CY2015. We continue to pride our green-lighting process and build on our portfolio strategy of films across varied budgets and languages backed by strong pre-sales to de-risk the business model.

    “We are upbeat about our film slate for FY-2017, which includes a string of high-octane releases such as R. Balki’s Ki & Ka, the hit franchise comedy Housefull 3, the highly anticipated rock musical franchise Rock On 2, the action drama, Shivaay and a host of regional releases amongst others,” continued Lulla.
    “We firmly believe that the company has a conservative capital structure and a well-funded balance sheet and we are proud to bring down our Net Debt/Equity ratio to just 0.11 with a free cash flow of Rs 1,320 million in the 9M FY2016. I am confident that with our clear strategic focus, differentiated revenue streams and regional strategy execution, we will continue to deliver solid results in the future and we thank all our shareholders and associates for their continued support,” added Lulla.

    Eros International Plc Group CEO Jyoti Deshpande added, “Calendar year 2015 has been nothing short of brilliant for Eros International operationally with a higher than average box office success of our entire film slate along with critical acclaim and awards to go with it. This year also marked the beginning of the monetisation of the 30 million plus registered users of Eros now our OTT platform and our foray into what could be potentially ground breaking Indo – China co-productions. We continue to support Eros International Media in every possible way with our strong balance sheet and are thrilled that Eros International Media has achieved a free cash flow (FCF) of Rs 1,320 million in the 9M-2016. We look forward to announcing Q3 results of Eros International Plc later in February with a further update on other related matters. once again we thank our shareholders, business associates, the Indian film industry and other partners who have helped us strengthen our resolve even in tough times.”

    Revenue breakup: Eros breakup of revenue for 9M-2016 (nine month period ended 31 December, 2015): Theatrical Revenue – 44.2 per cent; Overseas Revenue – 29.3 per cent; Television and others 26.5 per cent.

    Total Expenditure in the current quarter declined 21.6 per cent YoY to Rs 270.59 crore (80.7 per cent of TIO) as compared to Rs 345.34 crore (70.4 per cent of TIO) and declined 27.1 per cent QoQ as compared to Rs 370.97 crore (73.5 per cent of TIO).

    The company’s EBIT (Earnings before Interest and Taxes) declined 53.9 per cent YoY to Rs 67.65 crore (20.2 per cent margin) as compared to Rs 146.63 crore (29.9 per cent margin) and declined 51.3 per cent QoQ as compared to Rs 139.01 crore (27.5 per cent margin).

    Employee Benefits Expense (EBE) in the current quarter increased 47.2 per cent YoY to Rs 14.12 crore (4.2 per cent of TIO) as compared to Rs 9.59 crore (two per cent of TIO), but declined 1.2 per cent QoQ from Rs 14.29 crore (2.8 per cent of TIO).

  • Q3-2016: Eros revenue down

    Q3-2016: Eros revenue down

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported a 31.7 per cent YoY drop in consolidated Total Income from operations (TIO) at Rs 335.35 crore in the quarter ended 31 December, 2015 (Q3-2016, current quarter). The company had reported TIO of Rs 490.73 crore in the corresponding prior year quarter. Operating revenue in the current quarter declined 33.6 per cent as compared to Rs 504.91 crore in the immediate trailing quarter (quarter on quarter or QoQ).

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore
    All numbers in this are consolidated unless stated otherwise.

    Profit after tax (PAT) in the current quarter declined to almost a third (down 65.5 per cent) year on year (YoY) to Rs 37.77 crore (11.3 per cent margin) as compared to Rs 109.34 crore (22.3 per cent margin) and fell 58.2 per cent as compared to to Rs 90.30 crore (17.9 per cent margin) in the immediate trailing quarter.

    The company says its revenues vary quarter on quarter based on release slate. In Q3-2016, there was only one high budget film compared to three high budget films in Q3-2015 with only partial revenues of Bajirao Mastani.

    In Q3-2016, Eros says that one high budget, four medium and 10 low budget films were released as against three high budget, one medium and eight low budget movies in Q3-2015. During the quarter, 15 movies were released consisting of seven Hindi and five Tamil/Telugu films and three Regional film as compared to 12 films during Q3-2015, which included eight Hindi and four Tamil/Telugu films.

    Eros further informs that apart from the new release slate, a significant part of its revenue is contributed by monetisation of its valuable film library, and generally has a second half skew. Since catalogues revenues have longer payment cycles associated with them the company has decided to defer sales for couple of quarters until its receivables position normalises.

    Receivables

    As on 31 December, 2015, Eros says that its total receivables stood at Rs 6,358 million as compared to Rs 6,300 million as on 30 September, 2015. Receivables not due as of 31 December, 2015 was Rs 339.3 crore as compared to Rs 389.9 crore as on 30 September, 2015. Receivables over 365 days old were Rs 38.8 crore as of 31 December, 2015.

    Between 1 January, 2016 to 7 February, 2016, the company has seen a further collection of Rs 52.5 crore of receivables of the period up to 31 December, 2015. The company says that it remains confident to bring the overall receivables down to Rs 525 crore by the end of FY-2016.

    Company speak

    Eros executive vice chairman and managing director Sunil Lulla said, “I am pleased to announce yet another profitable quarter from Eros International driven by the blockbuster success of Bajirao Mastani and a string of regional releases. Our results for the nine months ended December 2015 reflect the strong performance of our film slate with total domination of the box office charts withBajrangi Bhaijaan, Tanu Weds Manu Returns, Welcome Back, etc.; and strong television, ancillary and overseas revenues to complement the box office. We are very proud that our films have been dominating the Bollywood awards declared for CY2015. We continue to pride our green-lighting process and build on our portfolio strategy of films across varied budgets and languages backed by strong pre-sales to de-risk the business model.

    “We are upbeat about our film slate for FY-2017, which includes a string of high-octane releases such as R. Balki’s Ki & Ka, the hit franchise comedy Housefull 3, the highly anticipated rock musical franchise Rock On 2, the action drama, Shivaay and a host of regional releases amongst others,” continued Lulla.
    “We firmly believe that the company has a conservative capital structure and a well-funded balance sheet and we are proud to bring down our Net Debt/Equity ratio to just 0.11 with a free cash flow of Rs 1,320 million in the 9M FY2016. I am confident that with our clear strategic focus, differentiated revenue streams and regional strategy execution, we will continue to deliver solid results in the future and we thank all our shareholders and associates for their continued support,” added Lulla.

    Eros International Plc Group CEO Jyoti Deshpande added, “Calendar year 2015 has been nothing short of brilliant for Eros International operationally with a higher than average box office success of our entire film slate along with critical acclaim and awards to go with it. This year also marked the beginning of the monetisation of the 30 million plus registered users of Eros now our OTT platform and our foray into what could be potentially ground breaking Indo – China co-productions. We continue to support Eros International Media in every possible way with our strong balance sheet and are thrilled that Eros International Media has achieved a free cash flow (FCF) of Rs 1,320 million in the 9M-2016. We look forward to announcing Q3 results of Eros International Plc later in February with a further update on other related matters. once again we thank our shareholders, business associates, the Indian film industry and other partners who have helped us strengthen our resolve even in tough times.”

    Revenue breakup: Eros breakup of revenue for 9M-2016 (nine month period ended 31 December, 2015): Theatrical Revenue – 44.2 per cent; Overseas Revenue – 29.3 per cent; Television and others 26.5 per cent.

    Total Expenditure in the current quarter declined 21.6 per cent YoY to Rs 270.59 crore (80.7 per cent of TIO) as compared to Rs 345.34 crore (70.4 per cent of TIO) and declined 27.1 per cent QoQ as compared to Rs 370.97 crore (73.5 per cent of TIO).

    The company’s EBIT (Earnings before Interest and Taxes) declined 53.9 per cent YoY to Rs 67.65 crore (20.2 per cent margin) as compared to Rs 146.63 crore (29.9 per cent margin) and declined 51.3 per cent QoQ as compared to Rs 139.01 crore (27.5 per cent margin).

    Employee Benefits Expense (EBE) in the current quarter increased 47.2 per cent YoY to Rs 14.12 crore (4.2 per cent of TIO) as compared to Rs 9.59 crore (two per cent of TIO), but declined 1.2 per cent QoQ from Rs 14.29 crore (2.8 per cent of TIO).

  • Eros readies pipeline of 65 movies across 7 languages in 2016

    Eros readies pipeline of 65 movies across 7 languages in 2016

    MUMBAI: Even as it has been embroiled in controversy over the last few months regarding its accounting practices, Eros International is planning to release as many as 65 movies in 2016 across seven different Indian languages like Hindi, Marathi, Tamil, Telugu, Malayalam, Bengali and Punjabi.

     

    Additionally, Eros is also planning to release Sanjay Leela Bhansali’s Bajirao Mastani in China and other international markets in 2016.

     

    HINDI

     

    Eros’ Hindi films pipeline for 2016 includes R. Balki’s Ki & Ka starring Arjun Kapoor and Kareena Kapoor, the promos of which are already out. The company will also be releasing Sajid Nadiadwala’s Housefull 3 starring Akshay Kumar, and Rohit Dhawan’s Dishoom starring John Abraham and Varun Dhawan.

     

    Baar Baar Dekho – a love story starring Katrina Kaif and Siddharth Malhotra will be releasing in association with Dharma Production, whereas Rock On 2 featuring Farhan Akhtar and Shraddha Kapoor will be released with Excel Entertainment.

     

    After associating with producer-director Aanand L Rai on films like Tanu Weds Manu Returns and Raanjhanaa, Eros will release multiple films with Rai’s joint production company Colour Yellow Production. These include Nil Battey Sannata that has received a good response at various festivals including the 20th Busan International Film Festival, 59th BFI London Film Festival with Swara Bhaskar wining the Best Actress at the Silk Road Film Festival of China. Also in the pipeline are films like Happy Bhaag Jayegi, a comedy that will present the first-time pair of Abhay Deol and Diana Penty and Manmarziyan, a romantic drama starring Bhumi Pednekar and Ayushmann Khurrana. 

     

    Apart from these, Rai is also working on his own directorial film, which will go into production this summer.

     

    This Diwali, Eros will release Ajay Devgn’s action drama – Shivaay. 

     

    After co-producing films like Goliyon Ki Rasleela Ram-Leela and Bajirao Mastani, Eros and Bhansali Productions will be joining hands on more co-productions, details of which will be announced at a later date. 

     

    Also scheduled to go on floor this year will be Eros and Phantom’s socio-drama superhero film Bhavesh Joshistarring Harshvardhan Kapoor to be directed by Vikramaditya Motwane.

     

    Other films slated to release in 2016 include Hansal Mehta’s critically-acclaimed Aligarh, Marathi director and National award winner Ravi Jadhav’s Hindi debut Banjo starring Riteish Deshmukh and Nargis Fakri, director Mohit Jha’s sports drama Saat Kadam and Pawan Kripalani’s psychological thriller Phobia starring Raadhika Apte.

     

    Eros will also release Vinay Sapru and Radhika Rao’s musical love story Sanam Teri Kasam starringnewcomers Harshvardhan Rane and Pakistani actress Mawra Hocane; Do Lafzon Ki Kahani by Deepak Tijori with Randeep Hooda and Kajal Agarwal as the lead pair along with Saif Ali Khan starrer Chef, a remake of 2014’s Hollywood hit Chef.

     

    REGIONAL LANGUAGES

     

    The company’s regional slate includes Marathi films like Sanjay Jadhav’s Guru, National award winning director Sujay Dahake’s Phuntroo, and Prakash Kunte’s & Jara Hatke. 

     

    Eros has already released the Telugu films – Balakrishna’s Dictator on 14 January, Pawan Kalyan’s Sardar Gabbar Singh, Mammootty’s Malayalam films White and Fahad Fazil’s Nale along with 2 Penkuttikalfeaturing Tovino Thomas, Amala Paul, Anju Kurian and Anna Fathima.

     

    Following the release of Bengali film Monchora by Sandip Ray with Abir Chatterjee and Raima Sen in January, Eros will release Prakton directed by Shiboprasad Mukherjee starring Prosenjit Chatterjee and Rituparna Sengupta paired together after a decade. 

     

    The Tamil movies’ in the pipeline include the Sivakarthikeyan starrer Rajini Murugan that released earlier this month; Suriya’s 24 directed by Vikram, Enkitta Mothathe, which is cinematographer Natarajan Subramaniam’s (Nutty) debut as an actor with Sanchita Shetty directed by Ramu Chellapa, actor Jaya Prada’s first Tamil production Uyire Uyire, Suriya’s Singam 3, Kai Neelam directed by Nalan Kumarsamy, Oru Kidayin Karunai Mamu directed by Suresh Sangiah and an untitled film starring mega star Karthi.

     

    The company is also collaborating with Harry Baweja to co-produce the sequel to the 3D animation film, Chaar Sahibzade, titled Chaar Sahibzaade 2 (Rise of Banda Singh Bahadur) followed by another 3D animation film Guru Tegh Bahadur. 

     

    Commenting on the company’s line-up, Eros International Media managing director Sunil Lulla said, “We have seen an excellent 2015 with the resounding success of Tanu Weds Manu Returns, peaking with the multiple-record breaking Bajrangi Bhaijaan and ending the year with our crowning glory Bajirao Mastani. We are at a very exciting phase in Eros and have an equally promising slate coming up this year that will reinforce and further strengthen our leadership position in the Indian media and entertainment industry. As a strategy, we will continue to diversify our presence across difference film genres, budgets and languages with a mix of popular and content driven cinema. In a few weeks, we will showcase to the world the first set of films under our Trinity franchise banner. Also scheduled to go on floor this year are some exciting directorial ventures by Sanjay Leela Bhansali, Kabir Khan, Aanand L Rai, Homi Ajadania, Sujoy Ghosh, Nishikant Kamat and Siddharth Anand. We hope and believe that 2016 will be just as magical as 2015 has been.”