Shemaroo Entertainment Limited has informed the Exchange regarding Investor Presentation
Ref No.: SELjReg. 30 - LODR/Oct-19
October 17,2019
The Secretary,
National Stock Exchange of India Limited
Exchange Plaza,
Bandra-Kurla Complex
Bandra (EL Mumbai-400 051.
NSE Symbol: SHEMAROO
Dear Sir / Madam,
The Secretary,
BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street,
Mumbai-400 023.
Scrip Code: 538685
Re: SHEMAROO ENTERTAINMENT LIMITED -ISIN : INE363M01019
Sub: - Earn ings Presentation-
Intimation under Reg. 30(6) of SEBI (LODR), Regulations,
Please find enclosed herewith Earnings Presentation of Shemaroo Entertainment Limited for
the Quarter and half year ended September 30, 2019
Thi s is for your information and records.
The same is also disseminated on the website of the Company i.e. www.shemarooent.com
Thanking you, Yours faithfully, For Shemaroo Entertainment Limited
~~
Dipesfi Gosar Company Secretary & Compliance Officer Membership No.: A23755
Encl.: As above
SHEMAROO ENTERTAINMENT LIMITED Shemaroo House, Plot No. 18, Marcl Co - Op. Industria l Estate, Off Andheri Kurla Road, Andh eri (E), Mumbai - 400 059. Tel.: +91 - 22 403 1 9911 I Fax: +91 - 22 2851 9770 I Email: shemaroo@shema roo.com shema rooen t.co m I CIN: L67190MH2005PLC1 58288
SHEMAROO ENTERTAINMENT LIMITED
H1 / Q2-FY20 Earnings Presentation
2
At a Glance
Over 55 years experience as a Household Media Brand
One of the largest content houses with 3700+ content library
Offering content to most Bollywood services across leading platforms
Offering content across Bollywood, Devotional, Regional, Comedy, Kids, Health & Lifestyle, etc.
Strong understanding of Consumer's Entertainment Needs
Strong content offerings in multiple countries across the globe
REVENUE FY19 INR 5,678 Mn
EBITDA FY19 INR 1,578 Mn
PAT FY19 INR 830 Mn
NETWORTH FY19 INR 5,717 Mn
5 Year CAGR 16.50%
5 Year CAGR 19.67%
5 Year CAGR 25.00%
5 Year CAGR 26.79%
2
3
Overview
• Founded in 1962 as a book circulating library, today Shemaroo Entertainment Limited (Shemaroo) is a leading Indian content power house with a global
reach, headquartered out of Mumbai and employs over 750 people.
• Shemaroo is a pioneer in content aggregation and distribution in India and globally with offerings spread across Television, Mobile, Internet, OTT, etc.
•
Identifying that movies have the longest shelf life for television and other media content, Shemaroo pioneered the movie library syndication business by acquiring movie titles from producers and distributing it to broadcasters and other media platforms.
• Shemaroo has grown multifold over the years, developing excellent relationships across the media industry value chain, to become one of the largest
organised players in a fragmented industry.
• The company’s digital business contribution has grown from less than 10% in FY14 to over 30% in FY19.
Operational Revenue (INR Mn) and EBITDA Margin (%)
FY19 Revenue Distribution (INR Mn)
26.69%
24.30%
26.86%
28.71% 29.96% 29.16% 27.79%
1,305
1,718
20.59%
923
635
373
246
2,387
2,861
175
1,976
3,113
3,332
3,586
3,960
1,038
1,896
FY13
FY14
FY15
FY16
FY17
FY18
FY19
H1-FY20
Traditional (INR)
Digital (INR)
EBITDA Margin (%)
Digital media 30%
Traditional Media 70%
3
4
H1 / Q2-FY20 HIGHLIGHTS
4
5
H1 / Q2-FY20 Key Financial Highlights
Q2-FY20 performance (Consolidated):
H1-FY20 performance (Consolidated):
• • • • • •
Revenue from Operations: INR 1,503 Mn EBITDA: INR 285 Mn EBITDA Margin: 18.96% Net Profit: INR 195 Mn Net Profit Margin: 12.97% EPS: INR 7.17
• • • • • •
Revenue from Operations: INR 2,934 Mn EBITDA: INR 604 Mn EBITDA Margin: 20.59% Net Profit: INR 356 Mn Net Profit Margin: 12.13% EPS: INR 13.11
Divisional Breakup (Consolidated):
INR Mn
Q2-FY20
Q2-FY19
YOY Growth
H1-FY20
H1-FY19
YOY Growth
Digital Media
Traditional Media
Income from Operations
551
952
1,503
456
1,177
1,633
20.8%
(19.1)%
(8.0)%
1,038
1,896
2,934
845
2,022
2,867
22.8%
(6.2)%
2.3%
5
6 Key Operational Highlights • ShemarooMe:
1) Launched 52 weeks 52 premiere service 2) Made available on MiTV and Cloudwalker TV 3) Partnered with Ixigo and Dainik Bhaskar
•
•
Launched 2 new pre-loaded audio speakers - Ganesha Bhajan Vaani and Shri Krishna Bhajan Vaani
Launched 2 new services on DTH:
1) Telugu service on Airtel, Dish and d2h in August 2019 2) Punjabi service on Dish and D2h in August 2019
• Crossed 28 Mn subscribers on our YouTube channel ‘FilmiGaane’; the channel became the 5th most
subscribed channel in India and 36th in the world
• The economic situation continued to be sluggish resulting in weak business sentiment and slowdown in advertising spends. This, along with ongoing investments by Shemaroo in new products, services, geographies and people, has affected the margins
6
7 Key Operational Highlights
YouTube Monthly Views Graph till September 2019:
7
8
Q2-FY20 Consolidated Income Statement (Ind-AS)
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margin (%)
Other Income
Depreciation
Finance Cost
PBT
Tax
PAT
Minority Interest & Share of profit/ (loss) in associate company
PAT after adjustments
PAT Margin (%)
Comprehensive Income
Total Profit including Comprehensive Income( Net of tax)
EPS (INR)(not annualised)
Q2-FY20
Q1-FY20
Q-o-Q
Q2-FY19
Y-o-Y
1,503
1,218
285
1,430
1,111
319
5.1%
9.6%
(10.7)%
1,633
1,207
426
(8.0)%
0.9%
(33.1)%
18.96%
22.31%
(335) Bps
26.09%
(713) Bps
6
20
56
215
21
194
1
195
9
14
58
256
92
164
(2)
162
(33.3)%
42.9%
(3.4)%
(16.0)%
(77.2)%
18.3%
NA
20.4%
-
13
56
357
127
230
-
230
NA
53.8%
NA
(39.8)%
(83.5)%
(15.7)%
NA
(15.2)%
12.97%
11.33%
164 Bps
14.08%
(111) Bps
-
195
7.17
-
162
5.94
NA
20.4%
20.7%
-
230
8.45
NA
(15.2)%
(15.1)%
8
9
H1-FY20 Consolidated Income Statement (Ind-AS)
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margin (%)
Other Income
Depreciation
Finance Cost
PBT
Tax
PAT
Minority Interest & Share of profit/ (loss) in associate company
PAT after adjustments
PAT Margin (%)
Comprehensive Income
Total Profit including Comprehensive Income( Net of tax)
EPS (INR)(not annualised)
H1-FY20
H1-FY19
Y-o-Y
2,934
2,330
604
2,867
2,051
816
2.3%
13.6%
(26.0)%
20.59%
28.46%
(787) Bps
14
35
113
470
112
358
(2)
356
2
27
118
673
248
425
-
425
12.13%
14.82%
-
356
13.11
(5)
420
15.64
NA
29.6%
(4.2)%
(30.2)%
(54.8)%
(15.8)%
NA
(16.2)%
269 Bps
NA
(15.2)%
(16.2)%
9
10 H1-FY20 Consolidated Balance Sheet (Ind-As)
Equity and Liabilities (INR Mn)
H1-FY19
H1-FY20
Assets (INR Mn)
H1-FY19
H1-FY20
Shareholders Fund
Share Capital
Other Equity
Non Controlling Interest
Total Equity
Non Current Liabilities
Long Term borrowings
Lease liability
Deferred tax liabilities (Net)
Long tem provisions
Total Non-Current Liabilities
Current Liabilities
Short Term Borrowings
Trades payables
Other Financial Liabilities
Other Current Liabilities
Short Term Provisions
Current Tax Liabilities (Net)
Total Current Liabilities
Total
272
5,032
(38)
5,266
2
-
36
16
54
272
5,747
(41)
5,978
3
23
24
41
91
Non Current Assets
Fixed Assets
Property, Plant & Equipment
Intangible assets
Intangible assets under development
Right of use Assets
Investments
Long Term Loan and Advances
Other Financial Assets
Other Non Current Assets
Total Non-Current Assets
1,669
2,136
Inventories
Current Assets
466
139
27
26
124
2,451
7,771
490
185
14
8
116
2,949
9,018
Trade Receivables
Cash and cash equivalents
Short Term loan and advances
Prepayments
Other Current Assets
Total Current Assets
Total
319
14
-
-
65
-
1
65
464
5,661
1,409
12
5
-
220
7,307
7,771
324
11
2
22
89
1
1
45
495
6,794
1,410
27
6
-
286
8,523 10 9,018
11
Shemaroo In Digital Media
Q2-FY20 Digital Media Performance (INR Mn)
456
551
Shemaroo was one of the early Indian media companies to syndicate its library in the high growth digital media platforms, thereby gaining early mover advantage
•
•
The company caters to all types of revenue models like subscription, pay per transaction, advertisement supported (free to consumer) etc. Due to its large library ownership Shemaroo has the ability to slice and dice content and package it in different ways that are more suited for the digital media platforms
Q2-FY19
Q2-FY20
H1-FY20 Digital Media Performance (INR Mn)
Digital Media Presence
Internet and OTT
• Shemaroo has agreements with various internet video platforms like YouTube, Hotstar, Reliance Jio, Apple iTunes, Google Play, YuppTV, etc.
Mobile Value Added services (MVAS) / Mobile Internet
• The company has agreements with major telecom operators, namely Airtel, Vodafone, Idea, etc. • Shemaroo distributes imagery, videos, full songs, live streaming etc. under MVAS through both operator branded portals as well as its own branded portals
1,038
845
H1-FY19
H1-FY20
11
12 Shemaroo in Traditional Media
Traditional Media Includes – Television Syndication, Overseas Distribution and Others
Television Syndication
• Shemaroo has a diverse content library which it syndicates rights to various Satellite Channels, Cable &
Terrestrial Networks
• Considering the vast and diverse library of Shemaroo, it can be easily assumed that most broadcasting
channels would have some content syndicated from Shemaroo at sometime or the other
Subscription Based Services
•
In partnership with major DTH and Cable operators, Shemaroo operates subscription-based, ad-free content services across various genres like Movies, Devotion, Comedy and Regional
TV Syndication Platforms
• Predominantly consists of Hindi films
• This includes Movie Channels, Kids Channels, Music Channels, News Channels
Satellite Television
etc.
• Enter into exclusive agreements for a film or package of films with a particular
group of movie channels for a specified period of time
Q2-FY20 Traditional Media Performance (INR Mn)
1,177
952
1300
1200
1100
1000
900
800
700
600
500
Q2-FY19
Q2-FY20
H1-FY20 Traditional Media Performance (INR Mn)
Terrestrial Television
Cable Television
• The company also licenses content for broadcasting on terrestrial television
2,022
network
1,896
• Revenue stream, wherein an increasing number of cable operators are
licensing rights of Shemaroo’s content
H1-FY19
H1-FY20
12
13 Consolidated Income Statement (Ind-As)
Particulars (INR Mn) Revenue from Operations
Total Expenses
EBITDA
EBITDA Margin (%)
Other Income
Depreciation
Finance Cost
PBT
Tax
PAT
Minority Interest & Share of profit/ (loss) in associate company
PAT after adjustments
PAT Margin (%)
Comprehensive Income
Total Profit including Comprehensive Income( Net of tax)
EPS (INR)(not annualised)
FY17
FY18
FY19
4,255
2,980
1,275
29.96%
30
43
324
938
342
596
18
614
14.43%
-
614
22.60
4,891
3,465
1,426
29.16%
12
51
307
1,080
367
713
(1)
712
14.56%
3
715
26.18
5,678
4,100
1,578
27.79%
18
56
256
1,284
457
827
3
830
14.62%
3
833
30.52
13
14 Consolidated Balance Sheet (Ind-As)
Equity and Liabilities (INR Mn)
FY18
FY19
Assets (INR Mn)
FY18
FY19
Shareholders Fund
Share Capital
Other Equity
Total Equity
Non controlling interest
Non Current Liabilities
Long Term borrowings
Deferred tax liabilities (Net)
Long tem provisions
Total Non-Current Liabilities
Current Liabilities
Short Term Borrowings
Trades payables
Other Financial Liabilities
Other Current Liabilities
Short Term Provisions
Current Tax Liabilities (Net)
Total Current Liabilities
Total
272
4,662
4,934
(36)
21
36
16
73
1,858
181
135
28
15
125
2,342
7,313
Non Current Assets
Fixed Assets
Property, Plant & Equipment
Intangible assets
Investments
Long Term Loan and Advances
Other Financial Assets
Other Non Current Assets
Total Non-Current Assets
Current Assets
Inventories
Trade Receivables
Cash and cash equivalents
Short Term loan and advances
Other Financial Assets
Other Current Assets
Total Current Assets
Total
272
5,445
5,717
(42)
4
34
32
70
1,969
298
63
68
8
151
2,557
8,302
323
10
67
-
3
31
434
5,297
1,406
13
4
-
159
6,879
7,313
306
10
65
1
3
58
443
6,027
1,590
16
6
8
212
7,859
8,302
14
15
Historical Consolidated Financial Charts
Operational Revenue* (INR Mn)
EBITDA (INR Mn) and EBITDA Margin (%)
5 Year CAGR 16.50%
5,678
4,891
4,255
3,751
3,234
2,646
24.30%
26.84%
5 Year CAGR 19.67%
28.69%
29.96%
29.16%
1,426
1,275
27.79%
1,578
1,076
868
643
2,000
1,600
1,200
800
400
-
FY14
FY15
FY16
FY17
FY18
FY19
FY14
FY15
FY16
FY17
FY18
FY19
Net Worth (INR Mn) and ROCE (%)
5 Year CAGR 26.79%
18.60%
19.60%
19.20%
18.10%
3,174
3,649
4,232
1,745
20.31%
19.96%
5,717
4,932
7,000
5,250
3,500
1,750
-
900
600
300
-
23.00%
20.00%
17.00%
14.00%
11.00%
8.00%
5.00%
PAT (INR Mn) and EPS (INR)
5 Year CAGR 25.00%
26.18 712
22.60
614
19.18
521
17.35
409
13.68
272
30.52
830
FY14
FY15
FY16
FY17
FY18
FY19
FY14
FY15
FY16
FY17
FY18
FY19
* Note: FY17 to FY19 numbers are as per IND-As
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
35
30
25
20
15
10
5
0
15
16
Capital Market
40% 30% 20% 10% 0% -10% -20% -30% -40% -50%
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19 Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
SHEMAROO
SENSEX
Price Data (As of 30th September, 2019)
Face Value
Market Price
52 Week H/L
Market Cap (INR Mn)
Equity Shares Outstanding (Mn)
1 Year Avg. Trading Volume ('000)
INR
10.0
243.1
527.9/233.0
6,608.0
27.2
13.2
Share Holding Pattern as on 30th September, 2019
Public 13.77%
FII 20.12%
Promoters 65.82%
DII 0.29%
16
DISCLAIMER
Shemaroo Entertainment Limited
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Shemaroo Entertainment Limited (“Company” or “Shemaroo”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
Valorem Advisors Disclaimer:
Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.
For further information please contact our Investor Relations Representative:
Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903-9500 Email: shemaroo@valoremadvisors.com
17
THANK YOU
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