UFO Moviez India Limited has informed the Exchange about Investor Presentation
May 25, 2023
To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 BSE Scrip Code: 539141
Dear Sir / Ma’am,
Sub: Investor Presentation
To, National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 NSE Symbol: UFO
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith presentation on Investors / analysts on the financial performance of the Company for financial results of the Company for the quarter and year ended March 31, 2023.
Request you to take it on record and disseminate it on your website.
Thanking you,
Yours faithfully, For UFO Moviez India Limited
Kavita Thadeshwar Company Secretary
Encl: a/a
UFO MOVIEZ INDIA LIMITED: VALUABLE TECHNO PARK, PLOT 53/1, ROAD 07, MIDC, ANDHERI (E), MUMBAI 400 093 T: +91 022 4030 5060
E: CORPORATE@UFOMOVIEZ.COM CORPORATE IDENTITY NUMBER: L22120MH2004PLC285453 WWW.UFOMOVIEZ.COM
GST I: 27AABCV8900E1ZF
Q4&FY23
Results Presentation May 25, 2023
Safe Harbour
The presentation has been prepared by UFO Moviez India Limited together with its subsidiaries (the “Company”), for informational purpose only and does not constitute or form part of an offer, solicitation or invitation of any offer to purchase or subscribe for any securities of the Company in any jurisdiction, nor should this presentation or any part thereof form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever.
This presentation has not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in the presentation. None of the Company or any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented or contained in these materials. The information presented or contained in this presentation is subject to change without notice and its accuracy is not guaranteed.
This presentation, except for the historical information, may contain forward looking statements, including the words or phrases such as “expects”, “anticipates”, “intends”, “will”, “would”, “undertakes”, “aims”, “estimates”, “contemplates”, “seeks to”, “objective”, “goal”, “projects”, “should” and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof.
The Company has prepared Financial Results based on the Indian Accounting Standards (Ind AS) and has reported and analyzed these results on a consolidated basis in this presentation.
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UFO Moviez at a Glance
3,348 High Impact Ad Screens
1,175 Cities & Towns Across India
2,083 Movies Digitally Delivered in FY23
Power to Impact upto 1.7 billion Viewers Annually
3
UFO’s Core Offerings
Cinema Value Chain
UFO’s Offering
Advantage
Revenue Stream
Producer
Distributor
Exhibitor
Content Digitization
Satellite or Physical Delivery of Content
Cinema Equipment for Movie Playout
Cost & Time Arbitrage
Digitization Fee
Content Delivery Charges & VPF Service Revenue
Fixed Rental / Sale of Equipment and Consumables
Audience
Excellent Viewing Experience
Advertisers
UFO has acquired long term rights over the Theaters Advertisement inventory and shares a portion of the Advertisement revenues with Exhibitors
UFO’s In Cinema Advertising Platform
4
Financial & Operating Highlights
Consolidated Financial Highlights (1/2)
Q4FY23 vs Q4FY20 and Q3FY23 (INR Mn)
Total Revenue
1,094
1,109
884
81%
Recovery
-20%
EBITDA
275
42%
115
101
Recovery
14%
Q4FY20
Q4FY23
Q3FY23
Q4FY20
Q4FY23
Q3FY23
PBT
PAT
94
30%
-7
Q4FY20
Q4FY23
-10
Q3FY23
68
Q4FY20
-300%
-12
Q4FY23
-3
Q3FY23
6
Consolidated Financial Highlights (2/2)
FY23 vs FY20 and FY22 (INR Mn)
Total Revenue
5,039
3,976
79%
Recovery
143%
FY23
PBT
FY20
522
1,639
FY22
EBITDA
31%
Recovery
339
172%
-472 FY22
FY23*
PAT
1,194
FY20
388
36%
85%
FY20
.
-145
FY23
-107
FY22
FY20
-132 FY23
-869
FY22
*FY23 EBITDA is before considering provision of Rs.29mn towards provisioning for impairment of an investment in an associate. The reported EBITDA after considering the provision is Rs.338mn.
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Consolidated Revenue Mix
Q4FY23
Q4FY22
350 40%
248 28%
878
281 32%
73 13%
242 44%
548
233 43%
FY23
755 19%
3,959
1,711 43%
1,493 38%
(INR Mn)
FY22
151 9%
528 32%
1,601
922 58%
Advertisement Revenue
Distributor Revenue
Exhibitor Revenue
(INR Mn) Advertisement Revenue
(i)
- In-Cinema Advertisement Revenue
- Corporate + Hyperlocal - Government + PSU
- Caravan Advertisement Revenue Revenue from Distributor Content Delivery Charge VPF Service Revenue Digitisation Income Others
(ii)
Revenue from Exhibitor
(iii)
Lease rental income Total Sales of Products Other Operating Revenues Revenue from Operations
(i+ii+iii)
Note: Excludes Other Income
Q4FY23 Q4FY22 % Change 240% 237% 193% 421%
FY22 % Change 400% 390% 357% 565%
248 246 173 73 2 281 186 47 45 3 350 133 138 78 878
73 73 59 14 0 233 146 46 34 6 242 45 117 80 548
FY23 755 740 567 173 15 1,493 878 243 209 162 1,711 547 895 269 3,959
151 151 124 26 0 552 334 110 84 24 898 117 612 169 1,601
20% 27% 3% 33% -57% 44% 196% 18% -2% 60%
170% 163% 121% 149%
90% 368% 46% 59% 147%
8
Consolidated Revenue Mix (Pre-pandemic Comparison)
Q4FY23
Q4FY20
FY23
FY22
(INR Mn)
350 40%
248 28%
878
281 32%
302 28%
449 41%
1,093
755 19%
3,959
1,711 43%
343 31%
1,493 38%
1,894 38%
1,547 31%
5,022
528 32%
Advertisement Revenue
Distributor Revenue
Exhibitor Revenue
(INR Mn) Advertisement Revenue
(i)
- In-Cinema Advertisement Revenue
- Corporate + Hyperlocal - Government + PSU
- Caravan Advertisement Revenue Revenue from Distributor Content Delivery Charge VPF Service Revenue Digitisation Income Others
(ii)
Revenue from Exhibitor
(iii)
Lease rental income Total Sales of Products Other Operating Revenues Revenue from Operations
(i+ii+iii)
Note: Excludes Other Income
Q4FY23 Q4FY20 % Recovery 82% 302 82% 301 93% 187 64% 114 200% 1 82% 343 71% 260 156% 30 52 87% 0 449 129 275 45 1,093
248 246 173 73 2 281 186 47 45 3 350 133 138 78 878
78% 103% 50% 174% 80%
FY23 755 740 567 173 15 1493 878 243 209 162 1711 547 895 269 3959
FY20 % Recovery 49% 1547 50% 1481 58% 972 34% 509 66 22% 1581 1193 163 225 0 1894 604 1142 148 5,022
91% 78% 181% 79%
74% 149% 93%
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In-Cinema Advertising Performance
In-Cinema Advertisement Operating Parameter
Number of Screens
Prime Screens
Popular Screens
Full House Seating Capacity - Annualized
3,348
2,073
1,275
~1.7 Bn
FY23
Metro and Tier I
Other Cities and Towns
Prime
Popular
Prime
Popular
# of UFO Screens
Cities and Towns
927
132
235
104
1,146
1,040
405
785
Full House Seating Capacity – Per Show All Screens
290,039
127,600
323,170
464,225
Seating Capacity Per Screen Per Show
**Full House Seating Capacity Annualised (in Mn Seats)
313
418
543
184
282
465
446
668
**Cities and Towns with population greater than 1.5 Mn are categorized as “Metro and Tier I” Full house seating capacity – Annualised is calculated by multiplying full house seating capacity per show x 4 shows a day x 30 days x 12 months
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In-Cinema Advertisement Revenue Analysis
Government + PSU
Corporate + Hyperlocal
301
62% 38%
Q4FY20
246
70%
Q4FY23
30%
1,481
66%
34%
FY20
INR Mn
740
77%
23%
FY23
Ad Revenue / Screen for the period (Avg) (Rs.)
80,990
72,996
395,524
216,702
Q4FY20
Q4FY23
FY20
FY23
Average # of minutes sold / show / Ad Screen
3.06
4.60
4.16
3.06
Advertisement Sharing with Exhibitors
27.67%
51.08%
36.41%
60.13%
Average # of minutes sold / show / Ad Screen is calculated by dividing total # of advertisement minutes sold by average # of Screens with Ad Rights during the period Average # of Advertising Screens = (Sum of # of Opening Advertisement Screens and # of Closing Advertisement Screens) / 2
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Theatrical Revenues
Theatrical revenues from Distributors
Revenue (INR Mn)
Revenue (INR Mn)
Content Delivery Charges
1,193
879
260
186
Q4FY20
Q4FY23
FY20
FY23
Revenue (INR Mn)
Revenue (INR Mn)
VPF Service Revenue
30
13
Q4FY20
47
15
Q4FY23
Gross Revenue
Net Revenue
243
163
72
74
FY20
FY23
Gross Revenue
Net Revenue
*Net Revenue = Gross Revenue less Revenue Shared to the Exhibitors
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Operating Parameter – Distributor Revenue
# of Screens**
CDC Category Screens
Q4FY23
Q4FY20
FY23
FY20
2,994
3,527
2,994
3,527
VPF Category Screens
333
1,677
333
1,677
Total
3,327
5,204
3,327
5,204
# of Screens as on March 31, 2023
Revenue / Screen (Average) (in Rs.)
Q4FY23
Q4FY20
FY23
FY20
CDC Category Screens
61,439
73,536
281,657
333,463
VPF Category Screens – Gross
137,625
17,963
231,698
86,986
VPF Category Screens – Net
44,898
7,647
70,983
37,942
15
Financial Performance
Consolidated Reported P&L Statement
(INR Mn)
Q4FY23 Q4FY20 % Change
FY23
FY20 % Change
Revenue from Operations
879
1,093
-20%
3,959
5,021
-21%
Other Income
Total Revenue
Total Expenses
EBITDA (Reported)
Depreciation and Amortisation
EBIT
Finance Cost
Finance Income
Profit from Associates
PBT
Tax
PAT
6
885
769
115
126
-11
-25
17
12
-7
5
-12
0
-
18
18
1,093
-19%
3,977
5,039
818
275
183
92
-25
19
8
94
26
68
-6%
3,639
3,845
-58%
-31%
339
495
-112%
-156
0%
-11%
50%
-107%
-81%
-118%
111
-49
74
-145
-13
-132
1194
710
484
-101
99
40
522
134
388
0%
-21%
-5%
-72%
-30%
-132%
-210%
-149%
85%
-128%
-110%
-134%
Basic EPS
-0.31
2.39
-113%
-3.47
13.68
-125%
*FY23 EBITDA is after considering provision of Rs.29mn towards provisioning for impairment of an investment in an associate.
Ind AS 116 impact on P&L - certain operating lease expense (Q4FY23 - Rs. 20.8 Mn & FY23 - Rs. 88.91 Mn) are recognised as Depreciation expense for the right of use assets (Q4FY23 - Rs. 16.39 Mn & FY23 - Rs. 74.45 Mn) and Finance Cost for interest accrued on lease liability (Q4FY23 - Rs. 6.70Mn & FY23 - Rs. 19.63 Mn).
17
Consolidated Expenditure Analysis
Expenses as a % of Total Revenue
Q4FY23
Q4FY20
FY23
FY20
1) Total Operating Direct Cost
41.40% 38.48% 47.34% 40.94%
Key Operating Direct Cost Components
i) Advertisement revenue share payment
14.25%
7.59% 11.19% 10.70%
ii) VPF service revenue share
3.62%
1.55%
4.25%
1.79%
iii) Purchase of Equipment, Lamps and Spares
12.53%
20.61% 17.83% 17.70%
2) Employee Benefit Expenses
24.66% 17.18% 24.74% 16.99%
3) Other Expenses (SG&A )
21.04% 19.10% 18.68% 18.40%
Total Expenses
EBITDA Margin
87.10% 74.77% 90.76% 76.32%
12.90% 25.23% 9.24% 23.68%
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Annexure
Historical Advertisement Performance
Advertisement Revenues (INR Mn)
2,372
2,136
1,790
1,578
1,547
1,167
FY15
FY16
FY17
FY18
FY19
FY20
FY21
FY22
FY23
Severely Impacted due to the COVID-19 pandemic.
755
151
25
20
Historical In-Cinema Advertising Performance
Government + PSU
Corporate + Hyperlocal
2,047
2,131
INR Mn
43%
47%
1,481
66%
740
1,578
1,792
47%
53%
44%
56%
1,167
46%
54%
FY15
FY16
FY17
FY18
FY19
FY20
57%
53%
34%
66%
34%
FY23
# of Screens with Ad Rights
3,784
3,713
3,745
3,897
3,697
3,792
3,348
Annual Ad Revenue / Screen (Avg) (INR)
316,346
410,275
474,597
535,847
561,102
395,524
216,702
# of Minutes Sold / Show / Ad Screen
3.36
4.15
4.34
5.19
5.54
4.16
3.06
Ad Sharing with Exhibitors
33.76% 30.66% 29.14% 31.75% 32.44% 36.41% 60.13%
*Excludes Advertisement Revenues from Caravan Talkies # of minutes sold / show / Ad Screen is calculated by dividing total # of advertisement minutes sold by average # of advertisement screens during the period Average # of Advertising Screens = ( Sum of # of Opening Advertisement Screens and # of Closing Advertisement Screens) / 2
21
Shareholding
(% of Total # of shares)
Promoters
March 31, 2023
22.71%
Institutional Investors
24.62%
Foreign Portfolio Investors
1.07%
Corporate Bodies
Others
4.15%
47.45%
Total # of Shares
38,176,230
22
About UFO Moviez India Limited
UFO is the first one, to enable cinema digitization with satellite technology in India. That also makes UFO the largest in- cinema advertising platform, with the power to impact almost 1.7 billion viewers annually through 3,348 screens comprising of 2,073 screens in the PRIME channel and 1,275 screens in the POPULAR channel across 1,175 cities, leading directly into the hearts of India’s Urban Heartland.
In the early 2000s, UFO optimized the potential of Indian cinema with satellite-based technology that transformed Annual Jubilee into Friday box office collections, slow-chain release into First Day - First Show, one blockbuster after another. It has made cinema into an equal experience for the whole country, making it an instant success with the youth that is already teased with pre-release teasers and trailers.
UFO is the end to end service provider for all DCI and non-DCI related cinema solutions. As on March 31, 2023, UFO’s global network, along with subsidiaries and associates, spans 3,456 screens. UFO has created a pan India, high impact in-cinema advertising platform with generally long-term advertising rights to 3,348 screens, with an aggregate seating capacity of approximately 1.7 billion viewers annually and a reach of 1,175 cities and towns across India, as on March 31, 2023.
UFO’s innovation driven DNA empowers it to use technology and business intelligence to minimize content irrelevance by providing relevant content, to the relevant people, at the relevant time! It aims at enabling an environment of content sufficiency to the running cinema infrastructures, as well as to create a one stop solution to set-up local movie theatres through a standardized model both in terms of infrastructure and experience. Apart from this the company also has Caravan Talkies that takes brands to rural India providing them an opportunity to reach media dark areas.
UFO’s mission is clear - un-biased, undivided, uninterrupted, cinema for all, and in doing so, outshining as the country’s largest cinema influencers.
Visit us at www.ufomoviez.com. For further details, contact:
Ami Mehta
Asst. Manager – Investor Relations
Tel: +91 22 4030 5126
Email: ami.mehta@ufomoviez.com
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