Balaji Telefilms FY19 revenues up 6% Rs 440.3 cr; net up 23%

Balaji Telefilms Limited has reported a 6 per cent increase in its FY2019 revenues from operations at Rs 440.3 crore, driven by higher revenues from content production. Of the Rs 440.3 crore, Rs 341.2 crore are from content production, while Rs 99.1 crore are from movies.

Balaji Telefilms continues to have the highest market share at 14 per cent in Primetime ratings despite the changes in reach and viewership across genres, as part of the New Tariff Order in the broadcast industry being implemented in the country.

ALTBalaji, the group’s most recent expansion into the direct to consumer video streaming service has completed two years of operation and is in an excellent position to become a category leader. With 38 shows, ALTBalaji has one of the largest original exclusive libraries. Hits for the year include ‘Apaharan’, ‘Gandii Baat’, ‘Puncch beat’, ‘Ragini MMS’ and ‘Kehne Ko Humsafar Hain’. ALTBalaji is the #3 top grossing video on demand service in India, based on App Annie data for grossing within the Entertainment category.

Commenting on the performance, Shobha Kapoor, Managing Director, Balaji Telefilms Limited, said, “Operationally we had a good year and have laid a strong foundation for the next financial year. Our television business continues to be the #1 content creator with a very healthy order pipeline. Our movies continue to narrate good clutter breaking stories and have recorded good pre-sales. ALTBalaji, in under 2 years is becoming a major value driver for us and we continue to invest in scaling the business.”

Financial performance on a standalone basis (Television and Movie Production)

  • FY19 Revenues from Operations has increased 6% driven by higher revenues from content production. FY 19 Revenues from Operations at Rs 440.3 cr – Rs 341.2 cr from content production and Rs 99.1 cr from movies
  • 14% improvement in the revenues per hour of programming in the TV business - FY19 at Rs 38 lakh / hour vs Rs 33 lakh / hour in FY18
  • Gross Margin in TV business has improved for 3 consecutive quarters and at 27.7% in Q4 FY19
  • FY19 Business EBITDA for the TV business at Rs 50.7cr, operating at 14.9% margin
  • Movie business had 2 films released during the year and the business generated an EBITDA before exceptional items of Rs 5.4 cr. FY19 impacted by Rs 9.8cr provision for advances as a matter of abundant caution
  • 23% growth in FY19 Net Profit after Tax at Rs 20.1 cr against FY18 of Rs 16.3 cr
  • Value of investments in Mutual funds across the Company as on 31stMarch 2019 at Rs 285 cr
  • The Board of Directors have recommended a payment of final dividend of Rs 0.40 per Equity share of face value Rs 2 subject to the approval of the shareholders at the ensuing Annual General Meeting

Operational Highlights

  • The TV production business has 7 shows on air during the quarter of which 4 shows were in the Top 5 shows
  • Naagin 3 was # 1 on Colors, KasautiiZindagii Ki was #1 on Star Plus and Kumkum Bhagya and Kundali Bhagya were #1 and #2 respectively on Zee
  • 5 movies are underway for release in FY20 – Production costs for these movies have already been recovered via pre-sales
  • ALTBalaji is the #3 top grossing video on demand service in India - based on App Annie data for grossing within the Entertainment category
  • With over 20 million subscriptions sold in the year ending 31stMarch, 2019, ALT Balaji is certainly shaping the binge-viewing culture via video streaming (OTT). Further, 67% of ALT Balaji’s subscribers finish watching a series within 7 days of starting it
  • 5 multi-episode, ‘Original Exclusive’ shows released this quarter taking the total number of shows to 38
  • ALTBalaji is at the centre of the consumer internet ecosystem with integrations and tie- ups with over 40 partners across telecom service providers, device and streaming partners, payment partners and other online services

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