Tag: Pentamedia Graphics Ltd

  • Pentamedia FY-02 net down 35.7%

    Pentamedia FY-02 net down 35.7%

    Animation major Pentamedia Graphics Ltd has posted a net profit of Rs 987.40 million for the financial year ended 31 March, 2002 as compared to Rs 1535.5 million in the previous financial year.

    Total income has decreased from Rs 5701.6 million in FY-01 to Rs 4618.80 million in the year ended 31 March, 2002.

    The company has posted a net profit of Rs 105.1 million for the quarter ended 31 March, 2002 as compared to Rs 337.60 million in the corresponding period last fiscal. Total income has decreased from Rs 1452.70 million in the quarter ended 31 March, 2001 to Rs 641.30 million in the quarter ended 31 March, 2002.

    The consolidated results are as follows:

    The company has posted a net profit of Rs 1314.50 million for financial year ended 31 March, 2002. The total income for FY-02 is Rs 6611.70 million.

    The company has posted a net profit of Rs 152.50 million for MQ 2002. The total income is Rs 1259.30 million for MQ 2002.

    The board has recommended a dividend of 50 paise per shareand approved the issue of bonus shares at the rate of equity share for every 10 equity shares held.

    BOARD OKAYS INCREASE IN AUTHORISED CAPITAL:
    The Board of Directors of Pentamedia Graphics Ltd has approved the increase of Authorised Share Capital from Rs 750 million to Rs 1500 million and the company proposes a further issue of shares in the ensuing AGM. The board has deferred the decision of sub-division of equity shares.

  • Three recently acquired Pentamedia firms being merged into Penta Entertainment

    Three recently acquired Pentamedia firms being merged into Penta Entertainment

    Chennai-based entertainment graphics major Pentamedia Graphics Ltd has announced it will merge three of its wholly-owned subsidiaries into a new company called Penta Entertainment Ltd.

    The three firms are Media Dreams Ltd, Kris Srikkanth Sports & Entertainment, and Mayajaal, says a Madras Stock Exchange press release issued yesterday. The stock swap constituted around 9 per cent of the equity of Pentamedia and 3.519 million shares of the company were allotted at Rs 500 per share.

    The three companies were acquired by Pentamedia last December through all stock deals totalling Rs 1760 million. Mayajaal offers themed entertainment such as games, multiplexes etc, Media Dreams focuses on studio entertainment such as television, film software and distribution while Kris Srikkanth Sport & Entertainment offers sports entertainment and has a web presence.

    The announcement comes in the wake of a controversy that has arisen Pentamedia being unable to put together the finances for acquiring a 49 per cent stake in the US-based Film Roman.

    Film Roman has said it is exploring legal options against Pentamedia for breach of agreement after it rejected Pentamedia’s offer of 5 million GDRs at $2 each in a swap for 8.5 million Film Roman shares at $1.17 for a 49.94 per cent equity stake in the company.

  • Pentamedia to get 49.9% Film Roman stock for $10 m in reworked deal

    Pentamedia to get 49.9% Film Roman stock for $10 m in reworked deal

    After a series of modifications, Indian multimedia production firm Pentamedia Graphics Ltd and US-based animation producer Film Roman Inc. have reached agreement on a deal that gives Pentamedia a 49.9 per cent stake in Film Roman valued at $10,000,000.

    Under the new terms, Pentamedia will be issued one new share of Film Roman’s common stock for each $1.17 in value it receives from Pentamedia. Upon completion of the transaction, Pentamedia will own up to 49.946% of Film Roman’s common stock, with an overall valuation of up to $10,000,000. The specifics of the restructured transaction are being finalised by the two companies and any necessary approvals will be sought in the near future, the release states.

    In a joint statement, V Chandrasekaran, CEO of Pentamedia and John Hyde, CEO of Film Roman said: “We have restructured the agreement between us and look forward to finalising the transaction so that we can start building on the strengths of our respective companies.”

    Early last month the whole deal seemed threatened with Film Roman filing a complaint with the US Securities & Exchange Commission claiming Pentamedia was unable to close the transaction on terms earlier agreed by both the firms and approved by Film Roman’s shareholders.

    As per the earlier agreement, Pentamedia was to acquire a fully diluted 60 per cent stake of Film Roman in the form of newly issued common stock for $15 million in cash.

    It was in October last year that Pentamedia last year announced a deal with Film Roman which it said would help it get better access to the US markets.

  • Indian companies yet to tap the scope of animation on the world scene

    Indian companies yet to tap the scope of animation on the world scene

    Speaking on “Marketing Indian Animation Abroad”, Firdaus Kharas, co-founder, UTV International, delved into what India needs to look at to forge ahead in animation on the international arena.

    The Indian presence at international trade fairs where there is a potential for many business deals should be enhanced. “In the past five years it was for the first time that some Indian animation companies exhibited at the NATPE 2001 (National Association of Television Programme Executives) held at Las Vegas in January this year which is a good development,” Kharas noted.

    Speaking about the areas that the countries advanced in animation are looking for, Kharas said the area with maximum potential was 2D animation. India should pitch for this segment if it wanted to be noticed in the international animation scenario. Actual animation production is done in 2D which normally required 15,000 to 18,000 drawing and when these put together contributes to a 22-24 minutes animation episode.

    Looking at it from the costing perspective, a 22 to 24 minute episode would put you back by $ 200,000 to $250,000 in the US and Canada while in Europe it would be $250,000 to $300,000. A similar project in an Asian country however, would work out to $50,000 to $75,000.

    In 2D animation, at the moment most of the pre production is done in the west. India does not really figure in the picture except for a few companies and is competing with countries like China, Philippines and Korea.

    The quality of work that comes out from Asia is often below expectations. According to Kharas, the two crucial areas very important for western productions were meeting deadlines and quality of work.

    Kharas urged Indian animation firms to participate in international conventions, which is a platform to exhibit what the country has to offer.

    Dr V Chandrasekaran, chairman CEO Pentamedia Graphics Ltd, saw a tremendous scope for animation with more television channels opening up. Currently if there are four million hours of programming potential for television alone and if even 10 per cent of these hours are considered for animation programmes for children there is a lot of scope, Chandrasekaran said.

    Rajesh Shah, CMD, Rajtaru Videosonic LTD, cited the example of the Hollywood blockbuster Gladiator, done mainly in India to illustrate the work that companies in India were capable of. According to Shah, the industry needed to plan better since many times due to tight schedules, quality was compromised. “The difficulty that we face is producers coming to us at the last minute and asking the work to be completed in a week or fortnight’s time,” he lamented.

    Sumati Shridharan, vice-president Pentamedia’s presentation of the future of animation in India with Pentamedia Graphics as a case study had to be wound up abruptly since it came through more as a promo for the company rather than providing any light on the subject at hand, a delegate complained.

    Session:Animation:India the New Hub
    Moderator:DR V Chandrasekaran, Chairman & CEO,Pentamedia Graphics
    Speakers:
    Firdaus Kharas, Cofounder, UTV International – Marketing Indian Animation Abroad
    Rajesh Shah, MUV Technologies LTD – 3D
    Ketan Mehta, Managing Director, Maya Entertainment LTD – Creating Animation Abroad
    Sumati Shridharan, Vice-President, Pentamedia Graphics – Future of Animation in India