Concall Notes – Feb 2024
Financial Performance:
Positive momentum in Q3 with successful movie releases
Advertisement Revenue grew by 83% YoY
EBITDA at Rs. 184 million, a 4% QoQ and 83% YoY increase
Consolidated Revenues for the quarter stood at ₹1,184 million
EBITDA Margin improved to 15.58% in Q3FY24
Profitability after tax reached Rs. 46 million
Consolidated gross cash at the end of the quarter was Rs. 882 million
Business Expansion and Partnerships:
Advertisement Screen Network expanded to 3,407 screens
Tie-up with TSR Films to expand advertising screen rights to 3,808 screens nationwide
Upcoming movies pipeline includes various titles
Expected growth in revenue from State Government spending
No significant costs incurred for the concluded JV with Qube
Caravan Talkies saw decent business in Q3 and Q4
Financial Strategy:
Reduction in gross debt
Anticipated Capex for the upcoming year ranging between INR 40 crores to INR 50 crores
Expectation of maintaining modest buffer in cash reserves while reducing gross debt
Advertising Strategy:
Expected growth in advertisement revenue by increasing minutes sold per screen
Capacity to sell ads expected to increase with higher screen occupancy
TSR deal involves acquiring exclusive advertising rights to expand presence in southern markets
Advertising prices have been on an upward trend
Continued focus on increasing advertising minutes sold per screen
Market Outlook:
Expectations to continue positive momentum with upcoming movie lineup
Positive outlook on the future of the business with a focus on growth and expansion.
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