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Tag: Sunil Lulla

  • 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.

  • Eros profits more than double in third quarter 2017

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported almost 2.5 times (2.496 times) consolidated profit after tax (PAT) for the quarter ended 31 December 2016 (Q3-16, current quarter) as compared to the corresponding year ago quarter (Q3-16). Eros PAT for the current quarter was Rs 101.88 crore (30.7 percent of Total Income from Operations or TIO, margin) as compared to Rs 40.81 crore (12.2 percent margin) in Q3-16.

    The company’s release slate was affected by demonetisation in Q3-17. Arsing from this, Eros said in its investor presentation that it has withheld the release of some films until the situation normalises. It says that the marginal decrease in consolidated revenues is on account of a narrower film slate comprising three medium budget and 5 small budget films in Q3-17 as compared to one high budget, 4 medium budget and 10 small budget films during the Q3-16 offset by comparatively stronger catalogue revenues. Hence consolidated TIO in the current quarter declined 1 percent year-over-year (y-o-y) to Rs 332.12 crore as compared to Rs 335.38 crore in the corresponding quarter of the previous year.

    Company speak

    Commenting on the performance of Q3-17, Eros, executive vice chairman & MD Sunil Lulla said, “This quarter results gave us a chance to bring out the strength of our valuable library. In spite of demonetization move by the Government which had a temporary negative impact on theatrical revenues, we demonstrated our robust business model by bringing in strong contributions from catalogue sales across television and other distribution channels. Rock On 2 although impacted directly by the demonetization benefited from strong pre‐sales in television and digital streams. Although the movies released during the quarter witnessed weak box office performances due to lack of footfalls, we firmly believe, that the demonetization step, in the longer term, will throw up a huge opportunity for us to strengthen our lead in corporatising the Indian Media and Entertainment industry.”

    “As we look ahead, we are investing smartly for the longer term in‐line with our portfolio approach across varied budgets and languages. Our strong industry‐leading production slate of over 50 movies in CY-17 (Calendar Year) has gone through a stringent green‐lighting process for many months. The upcoming line‐up includes highly promising projects such as five films from Trinity, two Indo‐China co‐productions, a Shahrukh Khan film from Color Yellow, two sequels from our own IPs like Vicky Donor‐2, Badlapur‐2, Munna Michael starring Tiger Shroff, Chanda Mama Door Ke starring Sushant Singh, amongst others.”

    Let us look at the other numbers reported by Eros

    Simple EBIDTA without other income in Q3-17 almost doubled (increased by 97.2 percent) y-o-y to Rs 131.39 crore (39.6 percent margin) from Rs 66.64 crore (19.9 percent margin).

    Consolidated Net Finance cost in the current quarter increased 48.2 per cent y-o-y to Rs 11.93 crore from Rs 8.05 crore.

    On account of the lower number of films released, Total Expenditure in Q3-17 declined 25.2 percent to Rs 203.18 crore from Rs 271.54 crore in Q3-16.  The company’s Films rights costs including amortisation costs in Q3-17 declined 24.1 percent y-o-y to Rs 151.23 crore from Rs 199.28 crore.

    Employee Benefit Expense in the current quarter increased 43 percent to Rs 20.48 crore from Rs 14.32 crore in Q3-16. Other expenses in Q3-17 declined by almost half (declined by 49.5 percent) y-o-y to Rs 28.86 crore from Rs 57.11 crore in the corresponding of the previous year.

    ErosNow

    The company says that Eros International’s OTT Platform Eros Now has over 20 lakh (2 million) subscribers worldwide, it has 5.5 crore (55 million) registered users worldwide across WAPP, APP and the web. The platform has rights to over 5,000 films, 250,000 audio tracks with 13 music labels providing music content.

  • ’17-18: Eros Media to produce 50 films in multiple languages

    ’17-18: Eros Media to produce 50 films in multiple languages

    MUMBAI: Eros International Plc, a leading global company in the Indian film entertainment industry, has announced that its majority-owned subsidiary, Eros International Media Limited, released its film production lineup for 2017-18.

    Eros International Media plans to produce over 50 films across multiple languages, making it the largest slate by any Indian studio this year, offering a diversified slate of marquee and content-driven films. In addition to this strong production slate, the Company will also continue to selectively acquire content on an opportunistic basis, according to a Business Wire release in the U.K.

    The company has ramped up its own productions with an exciting lineup under development, encompassing a significant number of releases across budgets, genres and languages through key partnerships. These partnerships include talented producer-director, Aanand L Rai and their joint production entity Colour Yellow Production, NextGen Films and Trinity Pictures, Eros’ in-house franchise label.

    Eros International Media managing director Sunil Lulla said, “We are delighted to collaborate with some of the best creative forces in the business and build a strong portfolio of films. We continue to see great opportunity in nurturing talent, creating IP in-house and remain focused on delivering our promise to provide wholesome entertainment to audiences with the right mix of popular and content driven cinema”.

    Following the critical and commercial successes of Raanjhanaa, Tanu Weds Manu Returns, Nil Battey Sannata and Happy Bhag Jayegi, Eros continues its association with Aanand L Rai and will roll out eight more titles with Colour Yellow which include Rai’s directorial venture starring Shah Rukh Khan, a quirky romantic comedy Shubh Mangal Savdhaan by south director RS Prasanna and two films, Mukkebaz and Manmarziyaan, will be helmed by Anurag Kashyap and Rahul Sankalya’s Nimmo. Following the success of Happy Bhag Jayegi, director Mudassar Aziz will reunite on a film he will direct along with another interesting collaboration with Navdeep Singh (of NH10 and Manorama Six Feet Under fame) for a project that is currently in the scripting stage. Additionally, a Malayalam film Moothon starring Nivin Pauly that Rai will be co-producing with Ajay Rai and Alan McAlex, to be directed by Geetu Mohandas, who’s last film Liar’s Dice was India’s official entry at the 87th Academy Awards is also in the pipeline from the banner.

    Aanand L Rai said, “Eros and Colour Yellow share an amazing synergy which reflects in the kind of films we make together, showcasing Indian ethos that touch hearts. What makes this association special is how, as partners, the teams bond and celebrate each project together.”

    Eros’ new slate also boasts of five films in association with NextGen Films, namely the blockbuster actor-director duo—Tiger Shroff and Sabbir Khan’s action-packed musical Munna Michael, Sushant Singh Rajput’s space odyssey Chandamama Door Ke, directed by Sanjay Puran Singh and directors Rahul Dholakia and Sabbir Khan’s next projects along with another project titled Make in India to be announced soon.

    Director Rahul Dholakia adds, “Eros and NextGen are very established film companies and I am looking forward to partnering with them in my next venture.”

    Trinity Pictures, the company’s visionary venture and in-house franchise label has five franchises across new and diverse genres lined up in the next couple of years— a spy-superhero film, Sniff directed by Amole Gupte, a live action bilingual (Hindi and Tamil) elephant film to be directed by multiple award winning Tamil director, Prabhu Solomon, ace director Krish’s buddy cop film which will be shot in Hindi and Tamil simultaneously, featuring popular lead actors from both South and Bollywood and two Indo-China co-productions, a first for any Indian studio—Kabir Khan’s travel drama and Siddharth Anand’s cross-cultural romantic comedy.

    “It’s exciting to jointly develop the Indo-China project with Eros and I hope we create new milestones together. This project will reach out to a much wider audience, new geographies and territories opening up the fastest growing film market of the world, China”, added director Kabir Khan.

    Also Read:

     

  • ’17-18: Eros Media to produce 50 films in multiple languages

    ’17-18: Eros Media to produce 50 films in multiple languages

    MUMBAI: Eros International Plc, a leading global company in the Indian film entertainment industry, has announced that its majority-owned subsidiary, Eros International Media Limited, released its film production lineup for 2017-18.

    Eros International Media plans to produce over 50 films across multiple languages, making it the largest slate by any Indian studio this year, offering a diversified slate of marquee and content-driven films. In addition to this strong production slate, the Company will also continue to selectively acquire content on an opportunistic basis, according to a Business Wire release in the U.K.

    The company has ramped up its own productions with an exciting lineup under development, encompassing a significant number of releases across budgets, genres and languages through key partnerships. These partnerships include talented producer-director, Aanand L Rai and their joint production entity Colour Yellow Production, NextGen Films and Trinity Pictures, Eros’ in-house franchise label.

    Eros International Media managing director Sunil Lulla said, “We are delighted to collaborate with some of the best creative forces in the business and build a strong portfolio of films. We continue to see great opportunity in nurturing talent, creating IP in-house and remain focused on delivering our promise to provide wholesome entertainment to audiences with the right mix of popular and content driven cinema”.

    Following the critical and commercial successes of Raanjhanaa, Tanu Weds Manu Returns, Nil Battey Sannata and Happy Bhag Jayegi, Eros continues its association with Aanand L Rai and will roll out eight more titles with Colour Yellow which include Rai’s directorial venture starring Shah Rukh Khan, a quirky romantic comedy Shubh Mangal Savdhaan by south director RS Prasanna and two films, Mukkebaz and Manmarziyaan, will be helmed by Anurag Kashyap and Rahul Sankalya’s Nimmo. Following the success of Happy Bhag Jayegi, director Mudassar Aziz will reunite on a film he will direct along with another interesting collaboration with Navdeep Singh (of NH10 and Manorama Six Feet Under fame) for a project that is currently in the scripting stage. Additionally, a Malayalam film Moothon starring Nivin Pauly that Rai will be co-producing with Ajay Rai and Alan McAlex, to be directed by Geetu Mohandas, who’s last film Liar’s Dice was India’s official entry at the 87th Academy Awards is also in the pipeline from the banner.

    Aanand L Rai said, “Eros and Colour Yellow share an amazing synergy which reflects in the kind of films we make together, showcasing Indian ethos that touch hearts. What makes this association special is how, as partners, the teams bond and celebrate each project together.”

    Eros’ new slate also boasts of five films in association with NextGen Films, namely the blockbuster actor-director duo—Tiger Shroff and Sabbir Khan’s action-packed musical Munna Michael, Sushant Singh Rajput’s space odyssey Chandamama Door Ke, directed by Sanjay Puran Singh and directors Rahul Dholakia and Sabbir Khan’s next projects along with another project titled Make in India to be announced soon.

    Director Rahul Dholakia adds, “Eros and NextGen are very established film companies and I am looking forward to partnering with them in my next venture.”

    Trinity Pictures, the company’s visionary venture and in-house franchise label has five franchises across new and diverse genres lined up in the next couple of years— a spy-superhero film, Sniff directed by Amole Gupte, a live action bilingual (Hindi and Tamil) elephant film to be directed by multiple award winning Tamil director, Prabhu Solomon, ace director Krish’s buddy cop film which will be shot in Hindi and Tamil simultaneously, featuring popular lead actors from both South and Bollywood and two Indo-China co-productions, a first for any Indian studio—Kabir Khan’s travel drama and Siddharth Anand’s cross-cultural romantic comedy.

    “It’s exciting to jointly develop the Indo-China project with Eros and I hope we create new milestones together. This project will reach out to a much wider audience, new geographies and territories opening up the fastest growing film market of the world, China”, added director Kabir Khan.

    Also Read:

     

  • Siddharth Roy Kapur elected Film and TV Guild president

    Siddharth Roy Kapur elected Film and TV Guild president

    NEW DELHI: MD and CEO of Disney India Siddharth Roy Kapur has been unanimously elected as the president of the Film & Television Producers Guild of India Ltd. at the first meeting of its newly-constituted Guild Council of Management.

    The meeting was held immediately after the 62nd annual general meeting on 24 September 2016. He will assume responsibility as the president of the guild with effect from 1 January 2017.

    Incumbent president Mukesh Bhatt and the management team will be holding charge until 31 December 2016. Subsequently, the new team will be constituted on 1 January, 2017, when Kapur assumes office.

    Kulmeet Makkar will continue to manage the affairs of the Film & Television Producers Guild of India Ltd. as its chief executive officer.

    Bhatt said, “Now it is time to move on, and hand over the baton to the younger generation.”

    Kapur said, “Mukeshji has served the industry tirelessly, with tremendous passion and commitment. I look forward to working to help address the challenges before us as an industry.”

    Subhash Ghai, Sunil Lulla and Rajkumar Hirani have been inducted into the Guild Council of Management.

    The members of the newly elected Council of Management of Guild are:

    1. Siddharth Roy Kapur (president-elect)
    2. Mukesh Bhatt
    3. Dheeraj Kumar
    4. Manish Goswami
    5. Vijay Singh
    6. Ashim Samanta
    7. Srishti Arya
    8. Ramesh Sippy
    9. Manmohan Shetty
    10. Ashutosh Gowariker
    11. Rakesh Roshan
    12. Karan Johar
    13. Farhan Akhtar
    14. Ekta Kapoor
    15. Vishal Bhardwaj
    16. Sushilkumar Agrawal
    17. Madhu Mantena
    18. Hiren Gada
    19. Sabbas Joseph
    20. Subhash Ghai
    21. Sunil Lulla
    22. Rajkumar Hirani
    23. Kiran Shantaram (permanent member)
    24. Randhir Kapoor (permanent member)
    25. Amit Khanna (permanent member)
    26. Kamalkumar Barjatya (member rmeritus)
    27. Rajkumar Kohli (co-opted member)

  • Siddharth Roy Kapur elected Film and TV Guild president

    Siddharth Roy Kapur elected Film and TV Guild president

    NEW DELHI: MD and CEO of Disney India Siddharth Roy Kapur has been unanimously elected as the president of the Film & Television Producers Guild of India Ltd. at the first meeting of its newly-constituted Guild Council of Management.

    The meeting was held immediately after the 62nd annual general meeting on 24 September 2016. He will assume responsibility as the president of the guild with effect from 1 January 2017.

    Incumbent president Mukesh Bhatt and the management team will be holding charge until 31 December 2016. Subsequently, the new team will be constituted on 1 January, 2017, when Kapur assumes office.

    Kulmeet Makkar will continue to manage the affairs of the Film & Television Producers Guild of India Ltd. as its chief executive officer.

    Bhatt said, “Now it is time to move on, and hand over the baton to the younger generation.”

    Kapur said, “Mukeshji has served the industry tirelessly, with tremendous passion and commitment. I look forward to working to help address the challenges before us as an industry.”

    Subhash Ghai, Sunil Lulla and Rajkumar Hirani have been inducted into the Guild Council of Management.

    The members of the newly elected Council of Management of Guild are:

    1. Siddharth Roy Kapur (president-elect)
    2. Mukesh Bhatt
    3. Dheeraj Kumar
    4. Manish Goswami
    5. Vijay Singh
    6. Ashim Samanta
    7. Srishti Arya
    8. Ramesh Sippy
    9. Manmohan Shetty
    10. Ashutosh Gowariker
    11. Rakesh Roshan
    12. Karan Johar
    13. Farhan Akhtar
    14. Ekta Kapoor
    15. Vishal Bhardwaj
    16. Sushilkumar Agrawal
    17. Madhu Mantena
    18. Hiren Gada
    19. Sabbas Joseph
    20. Subhash Ghai
    21. Sunil Lulla
    22. Rajkumar Hirani
    23. Kiran Shantaram (permanent member)
    24. Randhir Kapoor (permanent member)
    25. Amit Khanna (permanent member)
    26. Kamalkumar Barjatya (member rmeritus)
    27. Rajkumar Kohli (co-opted member)

  • 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.

  • FY-16: Eros International Media revenue up

    FY-16: Eros International Media revenue up

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported 11.4 percent increase in total revenue including other income (TR) for the fiscal ended 31 March 2016 (FY-16, current year, current fiscal) as compared to the previous year. Eros reported TR of Rs 1,603.45 crore in FY-16 as compared to Rs 1,441.03 crore in FY-15.

    The company’s Total Income from Operations (TIO) in the current year increased 11.3 percent to Rs 1,582.58 crore in the previous fiscal. Profit after Tax (PAT) after minority interest in the current year declined 13.5 percent to Rs 214.15 crore (13.4 percent PAT margin of TR) as compared to Rs 247.06 crore (17.1 PAT margin of TR) in the previous year.

    Eros says that revenue for FY-16 saw a significant growth on account of global releases of Bajrangi Bhaijaan, Bajirao Mastani, TanuWeds Manu Returns, Welcome Back, Srimanthudu amongst others across theatrical, overseas and satellite revenues, and overseas releases of Dil Dhadakne Do, Singh is Bling and Gabbar is Back reinforcing the portfolio and film mix strategy

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Earnings before Interest and Tax in FY-16 declined 6.6 percent to Rs 337.36 crore from Rs 361.19 crore in the previous year.

    The breakup of revenues in FY-16 was: Television and others 30 percent; Theatrical 43.8 percent; Overseas 26.1 percent. The comparative breakup of revenues in FY-15 was: Television and others 31.3 percent; Theatrical 38 percent; Overseas 30.7 percent.

    Total Expenditure in the current year increased 17.2 percent to Rs 1,266.09 crore (80 percent of TIO) from Rs 1,079.84 (76 percent of TIO) in FY-15.

    Direct Costs during FY-16 stood at Rs 1,144.8 crore, including Rs. 617.8 crore of content amortization (Rs 940 crore of direct costs including content amortization of Rs 497.6 crore in FY-15) and overflow accrued to Producers on account of hit films.

    For the period ending March 31, 2016, the company generated free cash flow of Rs 300 crore as compared to negative Rs 50 crore in FY-15. As on 31 March 2016, total receivables stood at Rs. 428.2 crore as compared to Rs. 525.7 crore as on 31 March, 2015.

    Films released in FY-16

    In FY-16, of the 63 films released by Eros, 6 high budget, 16 medium and 41 low budget films were released in as against 6 high budget, 11 medium and 47 low budget movies in FY-15. In FY-16, of the 63 films that were released 33 were Hindi and 30 were Regional films as compared to 64 films during FY-15, which included 45 Hindi and 19 regional films.

    In the quarter ended 31 March 2016 (Q4-16, current quarter) Q4-16, only 6 medium and 6 low budget films were released as against 1 high budget, 4 medium and 17 low budget movies in Q4-15. During the quarter, 12 films were released consisting of 3 Hindi and 5 Tamil/Telugu films and 4 Regional films as compared to 22 films during Q4-15, which included 17 Hindi and 5 Tamil/Telugu films.

    Company speak

    Eros executive vice chairman and managing director Lulla said, “Fiscal 2016 clearly proved to be one of the best year for our films at the Box Office demonstrating the quality and robustness of our content green-lighting strategy, a strong competitive edge for Eros. This is possible as over the years, we have built scale and expertise with the help of an experienced management team which has constantly set new benchmarks in the industry. Continuing this momentum, we had an excellent start to FY17 with Sardaar Gabbar Singh in Telegu, ‘Ki & Ka’ in Hindi and 24 in Tamil delivering splendid performances and together with ‘Housefull 3’ scheduled to open next week, we are looking at a blockbuster first quarter.

    “We have a very exciting film slate for the upcoming quarters, which include films such as ‘Rock On 2’, ‘Dishoom’, ‘Baar Baar Deko’, ‘Shivaay’, Banjo, Singham 3 together with a diversified slate of other regional releases. On the whole, FY 2017 will be seeing an exciting movie repertoire of over 65 content driven Eros films in Hindi and other regional languages, making it the biggest future slate by any studio in India. The slate would also be aided by compelling films from our franchise production arm, Trinity Pictures. To further demonstrate our portfolio and de-risking strategy, I am happy to announce that a substantial part of the above mentioned slate is already pre-sold for satellite rights with the major television networks.”

    “I am happy to report that we ended the year with record revenues of Rs. 16,036 million and healthy profitability. Further, we generated Rs. 3,000 illion free cash flow in FY16 and strengthened our balance sheet by bringing about working capital efficiencies. We are confident that we will continue to maintain
    our market leadership position in the years to come.”

  • FY-16: Eros International Media revenue up

    FY-16: Eros International Media revenue up

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported 11.4 percent increase in total revenue including other income (TR) for the fiscal ended 31 March 2016 (FY-16, current year, current fiscal) as compared to the previous year. Eros reported TR of Rs 1,603.45 crore in FY-16 as compared to Rs 1,441.03 crore in FY-15.

    The company’s Total Income from Operations (TIO) in the current year increased 11.3 percent to Rs 1,582.58 crore in the previous fiscal. Profit after Tax (PAT) after minority interest in the current year declined 13.5 percent to Rs 214.15 crore (13.4 percent PAT margin of TR) as compared to Rs 247.06 crore (17.1 PAT margin of TR) in the previous year.

    Eros says that revenue for FY-16 saw a significant growth on account of global releases of Bajrangi Bhaijaan, Bajirao Mastani, TanuWeds Manu Returns, Welcome Back, Srimanthudu amongst others across theatrical, overseas and satellite revenues, and overseas releases of Dil Dhadakne Do, Singh is Bling and Gabbar is Back reinforcing the portfolio and film mix strategy

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Earnings before Interest and Tax in FY-16 declined 6.6 percent to Rs 337.36 crore from Rs 361.19 crore in the previous year.

    The breakup of revenues in FY-16 was: Television and others 30 percent; Theatrical 43.8 percent; Overseas 26.1 percent. The comparative breakup of revenues in FY-15 was: Television and others 31.3 percent; Theatrical 38 percent; Overseas 30.7 percent.

    Total Expenditure in the current year increased 17.2 percent to Rs 1,266.09 crore (80 percent of TIO) from Rs 1,079.84 (76 percent of TIO) in FY-15.

    Direct Costs during FY-16 stood at Rs 1,144.8 crore, including Rs. 617.8 crore of content amortization (Rs 940 crore of direct costs including content amortization of Rs 497.6 crore in FY-15) and overflow accrued to Producers on account of hit films.

    For the period ending March 31, 2016, the company generated free cash flow of Rs 300 crore as compared to negative Rs 50 crore in FY-15. As on 31 March 2016, total receivables stood at Rs. 428.2 crore as compared to Rs. 525.7 crore as on 31 March, 2015.

    Films released in FY-16

    In FY-16, of the 63 films released by Eros, 6 high budget, 16 medium and 41 low budget films were released in as against 6 high budget, 11 medium and 47 low budget movies in FY-15. In FY-16, of the 63 films that were released 33 were Hindi and 30 were Regional films as compared to 64 films during FY-15, which included 45 Hindi and 19 regional films.

    In the quarter ended 31 March 2016 (Q4-16, current quarter) Q4-16, only 6 medium and 6 low budget films were released as against 1 high budget, 4 medium and 17 low budget movies in Q4-15. During the quarter, 12 films were released consisting of 3 Hindi and 5 Tamil/Telugu films and 4 Regional films as compared to 22 films during Q4-15, which included 17 Hindi and 5 Tamil/Telugu films.

    Company speak

    Eros executive vice chairman and managing director Lulla said, “Fiscal 2016 clearly proved to be one of the best year for our films at the Box Office demonstrating the quality and robustness of our content green-lighting strategy, a strong competitive edge for Eros. This is possible as over the years, we have built scale and expertise with the help of an experienced management team which has constantly set new benchmarks in the industry. Continuing this momentum, we had an excellent start to FY17 with Sardaar Gabbar Singh in Telegu, ‘Ki & Ka’ in Hindi and 24 in Tamil delivering splendid performances and together with ‘Housefull 3’ scheduled to open next week, we are looking at a blockbuster first quarter.

    “We have a very exciting film slate for the upcoming quarters, which include films such as ‘Rock On 2’, ‘Dishoom’, ‘Baar Baar Deko’, ‘Shivaay’, Banjo, Singham 3 together with a diversified slate of other regional releases. On the whole, FY 2017 will be seeing an exciting movie repertoire of over 65 content driven Eros films in Hindi and other regional languages, making it the biggest future slate by any studio in India. The slate would also be aided by compelling films from our franchise production arm, Trinity Pictures. To further demonstrate our portfolio and de-risking strategy, I am happy to announce that a substantial part of the above mentioned slate is already pre-sold for satellite rights with the major television networks.”

    “I am happy to report that we ended the year with record revenues of Rs. 16,036 million and healthy profitability. Further, we generated Rs. 3,000 illion free cash flow in FY16 and strengthened our balance sheet by bringing about working capital efficiencies. We are confident that we will continue to maintain
    our market leadership position in the years to come.”