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Tag: Raman Maroo

  • Shemaroo posts Rs 45.8 crore Q1 loss as revenue and margins dip sharply

    Shemaroo posts Rs 45.8 crore Q1 loss as revenue and margins dip sharply

    MUMBAI: Drama, but no dividends Shemaroo’s first quarter script writes itself into the red. The veteran media and entertainment company reported a consolidated net loss of Rs 45.8 crore for Q1 FY25, ballooning from Rs 17.2 crore in the same quarter last year. Even standalone losses were sharper, at Rs 46.9 crore versus Rs 17.5 crore year-on-year. Despite total income standing at Rs 143.2 crore, a steep rise in expenses especially operational and employee-related pushed the firm into deeper losses.

    Revenue from operations dropped 9.6 per cent year-on-year to Rs 139.5 crore (from Rs 154.4 crore), and sank over 31.7 per cent from Rs 204.3 crore in the previous quarter (Q4 FY24). Employee costs rose marginally to Rs 31.2 crore, while operational costs climbed significantly to Rs 152.3 crore, overtaking revenue altogether.

    Shemaroo’s loss before tax stood at Rs 60.9 crore for the quarter, compared to Rs 22.8 crore in Q1 FY24. The company’s total comprehensive loss now stands at Rs 45.8 crore for Q1 FY25, compared to Rs 17.2 crore a year earlier and Rs 5.1 crore last quarter.

    The board, however, remained busy beyond the balance sheet. It approved the reappointment of three top Shemaroo executives Raman Maroo as managing director, Atul Maroo as Joint MD, and Hiren Gada as CEO for another three-year term beginning January 2026. Additionally, Namrata Shinde was appointed compliance officer, effective immediately.

    But the real plot twist comes from the GST front. The company is entangled in a legal showdown after the GST department demanded recovery of inadmissible input tax credit (ITC) of Rs 70.3 crore, interest, and penalties totalling a staggering Rs 133.6 crore each on the Joint MD, CEO, and CFO. Shemaroo has challenged the order in the Bombay High Court and secured an interim stay on proceedings.

    In another strategic move, the company plans to transfer the broadcasting license of Mango TV to Mango Mass Media Pvt Ltd for at least Rs 25 lakh, subject to MIB approval.

    From VHS tapes to digital platforms, Shemaroo has seen the industry’s highs and lows. But if Q1 FY25 is any indicator, the road ahead might call for some tight editing and serious plot development both financial and regulatory.

  • Shemaroo reports improved numbers for Q3 2019

    Shemaroo reports improved numbers for Q3 2019

    BENGALURU: Indian media and entertainment content house Shemaroo Entertainment Ltd (Shemaroo) reported 12.3 per cent y-o-y increase in consolidated revenue from operations and 9 per cent y-o-y increase in consolidated profit after tax (PAT) for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter. Consolidated Total Comprehensive Income (TCI) for the quarter also increased 10 per cent y-o-y as compared to the previous year ago quarter.

    Operating revenue for Q3 2019 was Rs 148.95 crore as compared to Rs 132.63 crore in Q3 2018. Total revenue for the period at Rs 149.64 crore was 12.6 per cent higher y-o-y than Rs 132.85 crore. PAT and TCI for Q3-2019 were Rs 19.56 crore and Rs 19.57 crore respectively as compared to Rs 17.95 crore and Rs 17.79 crore respectively for the corresponding year ago quarter. Operating profit (EBITDA) for the quarter at Rs 35.29 crore was almost flat (declined 1.5 per cent) y-o-y as compared to Rs 35.81 crore in Q3 2018.

    Let us look at the other numbers reported by Shemaroo

    Total Expenditure in Q3 2019 increased 15.6 per cent y-o-y to Rs 121.82 crore as compared to Rs 105.22 crore. Cost of raw materials consumed in the period under review increased 11.5 per cent y-o-y to Rs 90.14 crore from Rs 80.33 crore.

    Employee benefit expense for Q3 2019 increased 47.2 per cent y-o-y to Rs 15.09 crore from Rs 10.25 crore. Finance costs for Q3 2019 reduced 8.2 per cent y-o-y to Rs 6.52 crore from Rs 7.1 crore. Other expenses for the quarter under review increased 46.9 per cent y-o-y to Rs 8.43 crore from Rs 5.74 crore.

  • Shemaroo to offer cable operators movies on licensing model

    Shemaroo to offer cable operators movies on licensing model

    MUMBAI: Shemaroo has entered into an exclusive agreement with Novex Communications for licensing rights of all its movies to cable TV operators. The home video player, which also has a huge movie library for satellite telecast, was earlier selling its cable TV rights directly to multi-system operators (MSOs).

    The movies for cable TV telecast which are already with Hathway Cable & Datacom will also be transferred to Novek after the expiry of its term. Hathway had bought five year rights in a bulk deal, a majority of which are expiring by the end of this year.

    Shemaroo will, thus, be doing away with the fixed fee model whereby it was selling cable TV rights to MSOs. “We will be able to maximise our revenue through the licensee model. We are given a minimum guaranteed amount and on increased growth, will have a revenue share,” says Shemaroo Films MD Raman Maroo.

    Already in the kitty is a collection of over 500 Hindi movies, while at least 15-16 will be added every month. “Almost 80 per cent of what we had sold to Hathway would expire by the end of this year. We will be assigning all our movies to Novex for cable TV exploitation. We have struck a two-year exclusive deal with them,” confirms Maroo.

    Novex Communications plans to charge cable operators a fee of Rs 35 per subscriber, though in reality most of the agreements will be lumpsome deals. “We will enter into annual deals with cable operators. Unlike most of the other movie content suppliers, we will provide actual software to cable operators. We will have at least 700 movies for licensing,” Novex Communications promoter Ketan Kanakia says.

    Novex has already signed a deal with the HFCL Infotel subsidiary Connect Broadband Services Ltd for J&K, Himachal, Punjab and parts of Haryana.

    MSOs, who run cable movie channels bank on the acquisition model. Cable movie channels CVO and CCC, promoted by MSOs Indusind Media and Hathway respectively, acquire movies for cable TV telecast. On the other hand, it is the licensing model which is popular with bulk of the cable TV operators.