Mumbai: Eros International Media Limited (Eros International), a leading global company in the Indian film entertainment industry announced its consolidated financial results for the quarter ended 31st December 2015
Commenting on the performance for, Mr. Sunil Lulla, Executive Vice Chairman and Managing Director of Eros International Media Ltd. said,“I am pleased to announce yet another profitable quarter from Eros International driven by the blockbuster success of Bajirao Mastani and a string of regional releases. Our results for the nine months ended December 2015 reflect the strong performance of our film slate with total domination of the Box Office Charts with Bajrangi Bhaijaan, Tanu Weds Manu Returns, Welcome Back etc; and strong television, ancillary and overseas revenues to complement the box office. We are very proud that our films have been dominating the Bollywood awards declared for CY2015. We continue to pride our green-lighting process and build on our portfolio strategy of films across varied budgets and languages backed by strong presales to de-risk the business model.
We are upbeat about our film slate for FY2017, which includes a string of high-octane releases such as R. Balki’s ‘Ki& Ka’, the hit franchise comedy ‘Housefull3’, the highly anticipated rock musical franchise ‘Rock On 2’, the action drama, ‘Shivaay’ and a host of regional releases amongst others.
We firmly believe that the Company has a conservative capital structure and a well-funded balance sheet and we are proud to bring down our Net Debt/Equity ratio to just 0.11 with a free cash flow of Rs. 1,320 million in the 9M FY2016. I am confident that with our clear strategic focus, differentiated revenue streams and regional strategy execution, we will continue to deliver solid results in the future and we thank all our shareholders and associates for their continued support.”
Operational Highlights:
- Strong Financial Performance
- Films score a 3 out of top 5 Hindi Box Office movies in CY2015
- #1 – Bajrangi Bhaijaan released in Q2 FY16, became the highest grosser of 2015, with a worldwide gross of over Rs. 6 billion.
- #3 –Bajirao Mastani continues to mesmerize audiences globally -it has now become the third highest grosser of 2015, with a till-date gross of Rs. 3 billion worldwide.
- #4- Tanu Weds Manu Returns, releasedinQ1FY16, became the first film of CY2015 to cross the Rs.1 billion mark, and has set new ROI bench marks in the industry.
- Along with these successes, Eros recorded a host of other blockbusters such as Gabbar is Back (Overseas),Welcome Back, Singh Is Bling (Overseas) to name a few.
- Super-hit Srimanthudu is the second all-time highest Telugu grosser.
- Diversified revenue mix
- For 9MFY16, as a percentage of Total Income, Theatrical Revenues contributed – 44.2%, Overseas Revenues – 29.3% and Television & Others – 26.5%.
- Eros’ magnum-opus ‘Bajirao Mastani’ was the quarters biggest domestic grosser and the most awarded film of the year Bajrangi
- Having recently completed a successful run of 50 days at the box-office, the high-profile block buster release, Bajirao Mastani will continue to earn theatrical and other revenues during Q4FY16.
- The movie grossed over Rs.2.0 billion in India and the world wide gross is over Rs.3.0bn*
- Eros pre-sold Bajirao Mastani’s satellite rights to Viacom18 (Colors) at an attractive price.
- Movie swept away 22 award titles at prestigious award platforms– Sony Guild Awards 2015, Stardust Awards, Screen Awards and the Filmfare Awards 2015.
- Bajirao Mastani is scheduled for a China release in April 2016.
- Blazing Bajirao, an original short graphic web series, based on ‘Bajirao Mastani’ on Eros Now was used to successfully promote the film amongst young adults and children.
- This was further extended to a game which was published across three major platforms – IOS, Android and Web.
Commenting on the highlights, JyotiDeshpande, Group CEO and Managing Director of Eros International Plc commented, “Calendar year 2015 has been nothing short of brilliant for Eros International operationally with a higher than average box office success of our entire film slate along with critical acclaim and awards to go with it. This year also marked the beginning of the monetization of the 30 million plus registered users of Eros now our OTT platform and our foray into what could be potentially ground breaking Indo China co-productions.
We continue to support Eros International Media in every possible way with our strong balance sheet and are thrilled that Eros International Media has achieved a free cash flow (FCF) of Rs. 1,320 mn in the 9MFY16. We look forward to announcing Q3 results of Eros International Plc later in February with a further update on other related matters. Once again we thank our shareholders, business associates, the Indian film industry and other partners who have helped us strengthen our resolve even in tough times.”
