MUMBAI: Shringar Cinemas Ltd. has posted a revenue of Rs 80 million for the third quarter ended 31 December 2005, up from Rs 39 million a year ago.
In the quarter, the net profit was adversely impacted due to absorption of entire costs of the new multiplexes as well as loss in revenues during the renovation period. The company undertook extensive renovation of its flagship multiplex, Fame Adlabs in Mumbai and also introduced Fame in Kolkata. “The benefits of these are likely to accrue in the forthcoming quarters. Operating losses reduced significantly by 83 per cent during this period,” the company said in a release.
Announcing the results, Shringar Cinemas managing director Shravan Shroff said, “We have continued our revenue growth in a tough quarter. Despite competitive challenges, the company is in line with its plans to open more properties in FY 06-07. Our thrust is to expand presence & achieve sizeable market share in key cities while continuing to garner greater share from the existing properties.”
For the nine-month period, the revenues rose 280 per cent to Rs 235 million as against Rs 62 million during this period.
Shringar Cinemas is also considering the proposal to increase the authorised capital of Rs 500 million subject to the consent of members in the general meeting. The board, which met on 28 January, has passed an enabling resolution to seek consent of members for increasing the company’s paid up capital.
The board has also passed an enabling resolution to set up a new subsidiary company.
Tag: Shringar Cinemas
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Shringar Cinemas’ Q3 revenue doubles to Rs 80 million
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Jaya Bachchan to inaugurate Fame Kolkata
Kolkata, October 27, 2005: Shringar Cinemas Limited, the movie exhibition and distribution company, has announced its foray in the Eastern Region with the launch of Fame Kolkata at the Metropolis Mall, Hiland Park. With state-of-the-art technology and the best of infrastructural design, the new multiplex is all set to become the happening movie destination in the ‘City of Joy’. As part of its expansion, Shringar Cinemas has also announced its plan to launch two more multiplex in the city by 2006.
With a capacity of 897 ergonomically designed seats across four screens, specially designed lighting, world class projectors, fully digital sound with 3-way surround system, and 100 per cent computerised operations with facilities for internet and tele-bookings; Fame Kolkata brings a world-class movie-viewing experience to cinema goers in Kolkata. Fame will offer a variety of seating options namely ‘Royal Seating’ – (Sofas), ‘Silver’, ‘Premiere’, and will also introduce the special ‘Romeo & Juliet’ couple seats, that are located in special rows with just two seats per row!
Jaya Bachchan will inaugurate the multiplex with a small ceremony followed by a star-studded premiere of Rituparno Ghosh’s much-awaited new film Antarmahal, starring Jackie Shroff, Abhishek Bachchan, Rupa Ganguly, Soha Ali Khan and Raima Sen.
Speaking of the new Fame Multiplex, Shravan Shroff, Managing Director, Shringar Cinemas Limited, said, “We are extremely excited to offer the Fame experience to the consumers in Kolkata. With the launch of Fame Kolkata, we take another step in our journey towards becoming one of the leading chain of multiplexes in the country. We promise to give cinema lovers a whole new viewing experience with the Fame brand of multiplexes. At Fame, we go beyond ‘just movies’ by making every moment at our theatres a pleasurable experience. We take care of the finer nuances of hospitality with our specially trained staff, F & B catering to suit the local palette, a host of contests and other interactive offers!”
The Fame foyer will offer patrons a wide variety of food and snacks to choose from…continental snacks counters, Chinese food carts, ice creams, popular street foods such as Jhal Muri and Puchka, along with the movie must-have’s such as popcorn, samosas and cola.
As with Shringar Cinemas’ other properties in Mumbai and Nashik, which have become benchmarks in providing international movie viewing experience in India, Fame Kolkata is all set to become synonymous with the ‘buzz chaiye aa jaayiye’ mantra. Red carpet events, opportunities to meet with the biggest Bollywood & Tollywood stars, exclusive ticketed movie previews, innovative & exciting contest and numerous food festivals, are just some of the elements that will keep the buzz going at Fame Kolkata, giving patrons a true flavour of cinema and entertainment as we know it! On an average, the multiplex will provide a choice of over 6 to 8 movies per day; ranging from Bollywood Blockbusters, Hollywood Hits, Indian Art Movies, Indian Regional language movies and the best of International Film Festivals.
About Shringar Cinemas Limited
Shringar Cinemas Ltd., listed on the National Stock Exchange and the Bombay Stock Exchange, began with acquiring programming rights for theatres across the country and in a short span of 4 years the Company set new standards in theatre content, service and has provided its patrons with a world class film viewing experience. As pioneers of the multiplex business, Shringar has been an important catalyst in the growth of the multiplex industry across India. April 2002 witnessed the launch of the first ever state-of-the-art five screen multiplex of Mumbai- Fame Adlabs. In quick succession, Fame Malad, Fame Kandivali and Fame Nashik were launched. The most recent addition to the Fame properties is Fame Kolkata. Shringar Cinemas Ltd is today growing at a rapid pace and will have a footprint of 36 Fame properties across India in the next 3 years. By the end of this financial year, Fame would extend its presence in Thane, Aurangabad, Hyderabad, Kolkata and Surat. Fame has redefined the movie-viewing experience for cinema patrons and has catalyzed the explosive growth of the multiplex industry across India.
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For further information, please contact:
Sreeraj Mitra/ Prianka Dam
Vaishnavi Corporate Communications
Kolkata
Tel: 9830014125 / 9830666050 -
Contract Advt bags Rs 40m account of Shringar Cinemas
MUMBAI: This sure is a first of sorts when a film company involved in the movie exhibition business has engaged a professional advertising agency. In a multi agency pitch involving Bates, Percept and Contract Advertising, Shringar Cinemas Pvt. Ltd, the exhibition division of Shringar Films has signed Contract Advertising to handle its creative and media responsibilities. According to Shringar Cinemas director Shravan Shroff the account is pegged at Rs 40 million. The contract comes into effect from the first week of June.
Apart from interesting creatives for the company, what gave Contract the edge over the others was that they understood the movie business well and were total movie buffs.Announcing the decision, Shroff said, “Contract Advertising has had a successful history in partnering businesses from relatively new industries and we are very happy to be working with them as we take the Fame brand to bigger heights. Entertainment is a serious business today and the era of marketing cinema halls through posters has gone. Today a multiplex is a brand, and thus we believe, there is a need of a professional advertising agency who can communicate our core values to our consumers.”
Speaking to indiantelevision.com about the need for Shringar Cinema to hire an agency for itself, the company’s head of marketing and sales Deepak Netram said, “We require advertising that will most effectively address our audience. We wanted someone who understands the idiosyncrasies of the movie business and can connect with the audience. Since we are not the run-of-mill kind of multiplex, we wanted someone who could partner us in communicating the same.”
Shringar Cinemas under the leadership of Shroff launched the first ever state-of art five screen multiplex of Mumbai-Fame Adlabs. Presently the company is working towards expanding its operations with launches in Surat, Nasik and Kolkata and two new multiplexes in Mumbai (Malad and Kandivali) by the end of 2004.
Contract Advertising Mumbai head and senior VP Rajiv Sabnis said, “We were very impressed with the vision of the management of the Fame brand and felt that in the long run, they will have a dominant national presence and hence the need to build a differentiated brand in the business of entertainment. This is the reason that Contract decided to pursue a partnership with Shringar Cinemas.”
In tune with the Company’s motto of providing “Best in Entertainment with World- class Service”, Shringar Cinemas has aligned the organisation, its people, processes and infrastructure to the needs of the patrons.
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UTV IPO oversubscribed; bids in upper price band
MUMBAI: UTV Software Communications’ initial public offering (IPO) has received overwhelming response. At the end of the day’s trading, the issue had been oversubscribed 3.4 times.
Most of the bids were received at Rs 130 per share, at the upper end of the price band. The IPO of nearly 7 million shares is being offered in a price band of Rs 115-130 per share.
The issue, which opened today and will close on 25 February, was oversubscribed in the first 10 minutes of it’s going up on offer.
UTV expects to raise Rs 910 million at the upper end. The issue comprises 34.11 per cent of UTV’s expanded equity.
UTV is the first media company this year to take the IPO route. Shringar Cinemas is planning to float a public issue to raise Rs 500 million.
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Shringar Cinemas rope in Kumar Katra as COO
MUMABI: Shringar Cinemas has announced the appointment of a chief operating officer (COO). Armed with over 12 years of experience in the hospitality industry, Kumar Katra is the new incumbent.
Commenting on Katra’s appointment, Shringar Cinemas managing director Shravan Shroff said, “Kumar has had considerable experience working with some of the most prestigious companies from the service industry and will successfully lead Shringar Cinemas in its next phase of growth.”
Kumar Katra has worked with the prestigious Taj Group of Hotels, Hard Castle Restaurant-McDonalds , to name a few.
Shringar Cinemas operate the Fame chain of multiplexes.The company has carved a niche for itself in the movie exhibition industry.
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Shringar Cinemas plans IPO, files with SEBI
MUMBAI: It is the turn of the film exhibition and distribution companies to go public. Shringar Cinemas Ltd, which operates a chain of multiplexes and distributes movies, is floating an initial public offering (IPO) to raise about Rs 500 million.
The company is entering the capital market with a public issue of 81,50,000 equity shares of face value of Rs10 each at a price to be determined through 100 per cent book building route to finance its expansion plans.
Out of the present issue, 50 per cent (39,50,000) shares are reserved for allocation to Qualified Institutional Buyers (QIBs) on discretionary basis, 25 per cent (19,75,000) shares are reserved for allocation to Non Institutional Bidders and 25 per cent (19,75,000) shares are reserved for retail individual bidders both on proportionate basis. The balance 2,50,000 equity shares are reserved for allotment to employees of the company.
The promoters’ holding will come down from around 65 per cent to 48 per cent. G W Capital, a private equity investment firm which had picked up 35 per cent stake, will bring down its stake to 26 per cent after the IPO.
The company has filed draft red herring prospectus with Securities and Exchange Board of India (SEBI) on 14 January. Enam Financial Consultants Private Limited and JM Morgan Stanley Private Limited have been appointed as book running lead managers to the issue, informs an official release.
Shringar Cinemas’s plans for 2005 include the opening of two four-screen multiplexes in Mumbai and two three-screen multiplexes in Pune and Hyderabad.