Shemaroo Entertainment has announced its financial results for the fourth quarter and financial year ending 31st March 2023.
The highlights for Q4 FY23 (Consolidated) demonstrate a significant growth in various financial aspects. Revenue from Operations increased by 75.8% YoY, reaching Rs. 164.5 crores compared to Rs. 93.6 crores in Q4 FY22. Earnings before Interest, Tax, Depreciation, and Amortisation (EBITDA) rose by 93.7% YoY to Rs. 16.9 crores, resulting in an EBITDA Margin of 10.3%. Profit Before Tax (PBT) saw a yearly jump of 211.8%, standing at Rs. 7.5 crores. Profit After Tax (PAT) also experienced substantial growth, rising by 136.5% YoY to Rs. 4.8 crores, with a PAT Margin of 2.9%. In terms of EPS, it amounted to Rs. 1.78 (Face Value Rs. 10 per share).
When comparing FY22 to FY23 (Consolidated), the Company displayed consistent progress. Revenues from operations increased by 45.9% to Rs. 556.6 crores from Rs. 381.4 crores in FY22. EBITDA grew by 31.9%, amounting to Rs. 47.3 crores, resulting in an EBITDA margin of 8.5%. PBT increased significantly to Rs. 14.8 crores, reflecting a jump of 186.4% compared to Rs. 5.2 crores in FY22. PAT also experienced growth, rising by 77.7% to Rs. 9.4 crores from Rs. 5.3 crores in FY22, with a PAT margin of 1.7%. The EPS for FY23 stood at Rs. 3.45.
In addition to the financial performance, there were other notable highlights. Digital Media and Traditional Media achieved yearly growth rates of 23.3% and 66.5%, respectively, in FY23. ShemarooMe, the OTT Platform, released 14 new titles during the quarter. Shemaroo GECs (General Entertainment Channels) captured a viewership share of over 9% in the overall Hindi GEC genre. Moreover, the contribution of B2C revenue doubled in FY23 compared to FY22, constituting approximately 1/3rd of the overall revenue.
Commenting on the results, Hiren Gada, CEO – Shemaroo Entertainment, said, “Considering the external economic scenario, I am very pleased with our overall performance in this financial year. We started on this journey of changing our business strategy in 2019 and against all odds and headwinds that we have faced over the last few years, we have overcome all these challenges and have been successful in meeting our strategic goals. We are extremely confident that the agility, strength and innovative business model, along with a professionally run organisation with freshly inducted talent from the media industry, will see our company delivering strong financial performance in the coming years.”