Professional Documents
Culture Documents
Q2 & H1 FY16
actual performance or achievements of ILL may vary significantly from such statements.
particular, such statements should not be regarded as a projection of future performance of ILL. It should be noted that the
Such statements are not, and should not be construed, as a representation as to future performance or achievements of ILL. In
other factors, some of which are beyond ILLs control and difficult to predict, that could cause actual results, performance or
These statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and
current beliefs, assumptions, expectations, estimates, and projections of the management of ILL about the business, industry
future state of affairs, results of operations, financial condition, business prospects, plans and objectives, are based on the
Company) that are not historical in nature. These forward looking statements, which may include statements relating to
This presentation and the following discussion may contain forward looking statements by Inox Leisure Limited (ILL or the
DISCLAIMER
Note: Q2 FY16, H1 FY16 and FY15 figures are based on consolidated financials including Satyam Cineplexes Limited which became wholly owned subsidiary of the Company on 8th August 2014.
q ANNEXURE
q FINANCIAL SUMMARY
q SHAREHOLDING STRUCTURE
q CONTENT PIPELINE
DISCUSSION SUMMARY
41 %
H1 FY16
7,040.6
Q2 FY16
3,553.8
H1 FY15
4,983.1
34 %
REVENUES*
Q2 FY15
2,659.4
REVENUES*
54 %
EBIDTA %
Q2 FY16
564.7
15.9%
EBIDTA
H1 FY15
659.5
13.2%
85 %
EBIDTA %
H1 FY16
1,220.3
17.3%
EBIDTA
Q2 FY15
365.9
13.8%
292 %
PAT %
Q2 FY16
205.1
PAT
H1 FY15
98.1
2.0%
367 %
PAT %
H1 FY16
457.7
6.5%
PAT
Q2 FY15
52.3
2.0%
5.8%
In Rs. Mn
% Share
Gross Box Office
Food & Beverages
Advertising
Other Operating Revenues
Q2 FY15
1,799.6
507.7
2,659.4
174.0
178.1
36 %
36 %
20 %
20 %
Q2 FY15
67.7%
19.1%
6.7%
6.5%
Q2 FY16
2,438.7
692.4
208.7
214.0
Q2 FY16
68.6%
19.5%
6.0%
5.9%
44 %
46 %
29 %
15 %
Advertising
% Share
Gross Box Office
H1 FY15
3,365.2
979.8
4,983.1
310.3
327.8
H1 FY15
67.5%
19.7%
6.6%
6.2%
H1 FY16
4,832.5
1,431.3
7,040.6
355.6
421.2
REVENUES* BREAKUP
REVENUES* BREAKUP
3,553.8
In Rs. Mn
H1 FY16
68.6%
20.3%
6.0%
5.1%
532.6
2.8
Footfalls (Mn)
Bajrangi
Bhaijaan
Q2 FY16
2.5
396.7
Baahubali
The Beginning
1.0
161.0
Welcome Back
0.8
137.2
Drishyam
0.6
110.3
Brothers
Q2 FY16
Footfalls (Mn)
30 %
14.5
38 %
29.1
H1 FY15
H1 FY16
Occupancy (%)
21.0
26%
33%
4%
Q2 FY16
Q2 FY15
162
169
H1 FY15
161
4%
H1 FY16
167
Q2 FY15
11.2
26%
32%
Q2 FY16
Footfalls (Mn)
18 %
12.1
21 %
H1 FY16
24.3
Occupancy (%)
H1 FY15
20.1
26%
33%
Q2 FY15
162
4%
Q2 FY16
168
H1 FY15
160
3%
H1 FY16
166
Q2 FY15
10.3
26%
33%
5%
Q2 FY16
56
H1 FY15
54
6%
H1 FY16
57
Q2 FY15
0.55
7%
Q2 FY16
0.59
H1 FY15
1.1
9%
H1 FY16
1.2
Q2 FY15
53
Q2 FY15
74.0%
Q2 FY16
75.0%
H1 FY15
74.0%
H1 FY16
75.0%
Q2 FY15
0.54
6%
Q2 FY16
0.57
H1 FY15
1.01
2%
H1 FY16
0.99
In Rs. Mn
10
Exempted
42
330
10,589
86,710
NBOC (Net Box Office Collections) , GBOC (Gross Box Office Collections)
85
Entertainment
Tax
Full Tax
Properties
Q2 FY15
Seats
H1 FY15
Q2 FY16
17.8%
Screens
18.0%
19.5%
H1 FY16
19.4%
2 years
Average Residual
Period
34.4%
Q2 FY16
42.8%
36.0%
34.3%
H1 FY16
42.5%
H1 FY15
44.0%
Q2 FY16
Q2 FY15
Employee Benefits
CAM, Power & Fuel, R&M
1.2
1.2
1.1
0.5
4.0
1.0
1.1
1.0
0.5
3.6
H1 FY16
1.0
0.9
H1 FY15
2.2
2.3
2.3
7.8
2.0
2.3
2.0
7.1
Q2 FY15
43.9%
36.1%
1,022.1
1,693.3
-671.2
9,521.7
Current Assets
Total Assets
6.1%
10.1% **
8.8% **
0.3
H1 FY16
9,902.6
-260.7
1,671.7
3.8%
Debt : Equity
1,774.1
1,859.7
FY15
6,737.1
6,681.1
Fixed Assets
1,652.1
1,652.1
Goodwill on Consolidation *
1,411.0
7,219.6
961.6
6,584.7
-326.7
2,375.9
307.1
9,902.6
H1 FY16
6,761.9
961.6
6,127.0
-326.7
2,411.9
347.9
9,521.7
FY15
Particulars
48.7%
Rs 1,172 mn at
Current Market
Price
Low Leverage
D/E: 0.3x
10
Promoters Stake
Treasury Stock in
Inox Benefit Trust
Gandhinagar R21
1st September 2015
6 Screens
686 Seats
SCREENS 21
Gandhinagar Adalaj
31st August 2015
3 Screens
1,308 Seats
PROPERTIES 5
ADDITIONS IN H1 FY16
SCREENS 16
Rajkot Dharam
31st August 2015
3 Screens
612 Seats
PROPERTIES 4
ADDITIONS IN Q2 FY16
SEATS 4,003
SEATS 3,356
11
102,785
Seats
393
Screens
101
Properties
55
Cities
17
States
12
102,785 SEATS
393 SCREENS
101 PROPERTIES
H1 FY16
3
4
Rajkot
Kolhapur
9
5
2
42
Mumbai
Gandhinagar
Goa
Total
8,629
288
728
1,700
900
1,390
961
918
450
1,020
274
111,414 SEATS
435 SCREENS
FY16
39,291 SEATS
185 SCREENS
POST FY16
PIPELINE
Surat
Thrissur
Goa
Aurangabad
Screens Seats
FY16 PIPELINE
Jorhat (Management)
Properties
150,705 SEATS
620 SCREENS
LEADING TO
13
Jazbaa
Release Date: 9th October 2015
Cast: Aishwarya Rai Bachchan, Irrfan
Khan, Shabana Azmi,
Anupam Kher
Director: Sanjay Gupta
Banner: Essel Vision Production Ltd
Pyaar Ka Punchnama 2
Release Date: 16th October 2015
Cast: Karthik Tiwari, Nusrat Bharucha
Director: Luv Ranjan
Banner: Viacom 18 Motion Pictures,
Panorama Studios
Shaandaar
Release Date: 22nd October 2015
Cast: Shahid Kapoor, Alia Bhatt,
Pankaj Kapoor, Sanjay Kapoor
Director: Vikas Bahl
Banner: Fox Star Studios
14
Spectre
Release Date: 20th November 2015
Cast: Ralph Fiennes, Daniel Craig,
Monica Bellucci
Director: Sam Mandes
Banner: Eon Productions
Tamasha
Release Date: 27th November 2015
Cast: Ranbeer Kapoor, Dipika
Padukone
Director: Intiaz Ali
Banner: UTV Motion Pictures,
Nadiadwala Grandson
Entertainment
15
Wazir
Release Date: 4th December 2015
Cast: Amitabh Bachchan, Farhan
Akhtar
Director: Bejoy Nambiar
Banner: Vinod Chopra Production
Bajirao Mastani
Release Date: 18th December 2015
Cast: Ranveer Singh, Priyanka
Chopra, Deepika Padukone
Director: Sanjay Leela Bhansali
Banner: Eros International
SLB Films
Dilwale
Release Date: 18th December 2015
Cast: Shah Rukh Khan, Kajol,
Varun Dhawan
Director: Rohit Shetty
Banner: Rohit Shetty Productions,
Red Chillies Entertainment
16
The Revenant
Release Date: 8th January 2016
Cast: Leonardo Di Caprio, Tom Hardy,
Paul Anderson
Director: Alejandro Gonzalez Inarritu
Banner: Regency Enterprises
Airlift
Release Date: 22nd January 2016
Cast: Akshay Kumar, Nimrat Kaur
Director: Raja Krishna Menon
Banner: T-Series Super Cassettes Industries
Ltd. , Cape of Good Films,
Crouching Tiger Motion Pictures,
Emmay Entertainment Pvt. Ltd
The Accountant
Release Date: 29th January 2016
Cast: Ben Affleck, Anna Kendrick
Director: Gavin O Connor
Banner: Electric City Entertainment
Zero Gravity Management
17
Public /
Others, 16.94
Promoter &
Promoter
Group, 48.70
* Shares held under Inox Benefit Trust reflect the Treasury Shares
FII, 20.89
DII, 8.96
Inox Benefit
Trust, 4.51
Source: BSE
300
250
200
150
100
50
0
SHAREHOLDING STRUCTURE
10.0
4.74%
4.27%
4.10%
2.49%
1.62%
1.56%
1.49%
1.43%
1.07%
% Holding
271.5 145.0
96.5
269.4
25,985.7
As on 21.10.15 (BSE)
Price (Rs.)
Market Data
18
FY13
FY14
8,688.3
FY15
73%
FY12
75%
FY11
GBOC
18%
5%
5%
16%
5%
FY13
73%
19%
F&B
4%
4%
69%
19%
Adv
FY14
6%
7%
66%
19%
Others
FY15
8%
7%
11.3%
FY11
FY13
980.1
12.8%
2,439.5
3,202.9
0.8
FY13
Equity
2,809.9
2,411.9
6,761.9
FY14
FY15
Debt to Equity
2,421.7
3,909.1
0.6
0.4
FY14
FY15
EBITDA Margin %
3,245.8
0.9
12.1%
1,219.6 1,227.7
14.0%
LEVERAGE ANALYSIS
FY12
EBITDA
FY12
Debt
3,023.9
3,154.3
1.0
FY11
308.1
CAGR: 41.3%
728.8
8.3%
ROE: PAT/Avg. Equity, ROCE: EBIT/Avg. Capital Employed [(Capital Employed = Equity + Total Debt)
5%
FY12
7,652.9
10,168.1
FY11
3,703.2
6,448.6
CAGR: 28.7%
REVENUES
FY11
1.4%
1.6%
FY11
50.0
42.3
0.7%
FY13
184.5
2.4%
19
In Rs Mn
FY14
FY15
ROE %
3.8%
6.1%
11.5%
10.3%
5.7%
FY12
FY13
ROCE %
1.3%
6.0%
9.4%
200.4
2.0%
FY14
FY15
PAT Margin %
369.4
4.3%
RETURN METRICS
FY12
PAT
CAGR: 41.5%
1.4%
ANNEXURE
20
320.0
678.1
133.7
475.7
866.1
176.0
Entertainment Cost
Exhibition Cost (Distributor
Share)
Food & Beverages Cost
197.2
52.3
2.0%
205.1
5.8%
2.24
PAT
PAT Margin %
14.9
114.7
Tax Expense
67.2
319.8
114.0
7.4
PBT
Exceptional Items
61.8
13.8%
15.9%
EBITDA Margin %
Finance Cost
365.9
564.7
EBITDA
14.1
561.7
772.1
Other Income
438.5
515.2
192.1
161.5
184.0
2,659.4
3,553.8
Q2 FY15
Q2 FY16
DETAILED FINANCIALS
CONSOLIDATED P&L STATEMENT
267.2%
380 bps
292.2%
669.8%
375.9%
-45.8%
90.5%
2.7%
213 bps
54.3%
37%
17.5%
13.9%
31.6%
27.7%
48.7%
33.6%
YoY %
2.75
7.2%
252.6
148.0
400.6
61.9
4.4
197.5
18.8%
655.6
662.6
490.5
179.9
183.8
852.1
462.3
3,486.8
Q1 FY16
-18.5%
-147 bps
-18.8%
-22.5%
-20.2%
-0.2%
220.5%
-0.2%
-291 bps
-13.9%
16.5%
5.0%
2.3%
-4.2%
1.6%
2.9%
1.9%
QoQ %
4.99
6.5%
457.7
262.7
720.4
123.7
18.5
394.7
17.3%
1,220.3
1,434.7
1,005.7
363.9
359.8
1,718.2
938.0
7,040.6
H1 FY16
1.15
2.0%
98.1
20.6
118.7
5.0
178.5
15.7
373.0
13.2%
659.5
1,076.3
824.9
298.4
256.2
1,262.1
605.7
4,983.1
H1 FY15
333.9%
453 bps
366.6%
1175.2%
506.9%
-30.7%
17.8%
5.8%
410 bps
85.0%
33%
21.9%
22.0%
40.4%
36.1%
54.9%
41.3%
YoY %
21
2.18
2.0%
200.4
-40.5
159.9
6.0
386.1
82.7
758.4
12.1%
1,227.7
2,321.2
1,757.8
658.2
495.5
2,493.2
1,214.5
10,168.1
FY15
6,127.0
-326.7
6,761.9
6,584.7
-326.7
7,219.6
2,005.1
243.2
43.3
61.3
2,352.9
200.4
31.7
75.0
2,201.3
147.0
892.6
905.6
155.0
2,100.2
11,215.0
231.8
920.6
734.7
266.3
2,153.4
11,574.3
Short-Term Borrowings
Trade Payables
Short-Term Provisions
Current Liabilities:
1,894.2
Non-Current Liabilities:
961.6
MAR
R--15
961.6
SEP
P--15
DETAILED FINANCIALS
CONSOLIDATED BALANCE SHEET
11,574.3
1,411.0
16.8
128.1
154.7
707.3
91.4
Trade Receivables
Inventories
Current Investments
312.7
8,511.2
41.0
1,723.1
10.0
6,737.1
1,652.1
SEP
P--15
Non-Current Investments
Non-Current Assets:
Goodwill on Consolidation
11,215.0
1,022.1
17.7
106.8
134.4
623.2
75.9
64.1
8,540.8
39.6
1,813.0
7.1
6,681.1
1,652.1
MAR
R--15
22
Largest producer of
industrial gases in India
Offers comprehensive
solutions in cryogenic
storage, vaporization and
distribution engineering
Largest producer of
cryogenic liquid storage and
transport tanks in India
Inox India
Limited
State-of-the-art manufacturing
plants near Ahmedabad
(Gujarat) and at Una (Himachal
Pradesh) and upcoming new
facility in Madhya Pradesh
Present in 55 cities with 101
multiplexes and 393 screens
Largest producer of
chloromethanes, refrigerants
and Polytetrafluoroethylene
in India
Mcap: Rs 26.0 bn
Mcap: Rs 88.9 bn
Mcap: Rs 72.3 bn
Inox Leisure
Limited
Gujarat Fluorochemicals
Limited
Listed Companies
213 MW operational
capacity in 3 different states
with another 20 MW ready
for commissioning
Inox Renewables
Limited
GROUP OVERVIEW
STRONG PEDIGREE
23
STRONG
FINANCIALS
KEY
STRENGTHS
BUSINESS
OVERVIEW
Consolidated Revenues, EBITDA and PAT were Rs 10,168.1 mn, Rs 1,227.7 mn and Rs 200.4 mn in FY15 having grown at CAGR of 29%,
41% and 42% over FY11 to FY15
Robust operating performance driven by rising footfalls, high ticket prices, highly profitable F&B service, focus on other operating
income
Strong balance sheet with gross debt of Rs 2,411.9 mn, net debt of Rs 2,277.5 mn and equity of Rs 6,761.9 mn in FY15 with a D/E ratio
of 0.4x
Inox Leisure Limited (ILL), incorporated in 1999, is the 2nd largest multiplex operator in India
ILL is a part of Inox Group which is diversified across industrial gases, engineering plastics, refrigerants, chemicals, cryogenic
engineering, renewable energy and entertainment sectors
ILL currently operates 101 properties (393 screens and 102,785 seats) located in 55 cities across India, being the only multiplex
operator having such a diverse presence across pan India
The company accounts for 19% share of the multiplex screens in India and ~8% share of the domestic box office collections
The company has aggressively scaled up through organic and inorganic expansion over last decade growing from 2 properties 8
screens in FY03 to 101 properties 393 screens in Q2 FY16, virtually adding on an average 3 screens every month over the last decade
COMPANY OVERVIEW
BRIEF PROFILE
24
12
FY04
FY03
FY05
25
Screens
FY07
51
FY08
76
FY09
91
FY10
119
32
FY11
239
63
Properties
FY12
257
68
FY13
285
74
310
79
FY14
FY06
35
Note: Includes Acquisition of 1) 89 Cinemas in FY08, 2) Fame India in FY11, 3) Satyam Cineplexes in FY15
14
22
26
COMPANY OVERVIEW
TRACK RECORD OF AGGRESSIVE EXPANSION
FY15
372
96
H1 FY16
393
101
25
393 Screens
55 Cities
Lower Dependency
on Hindi and English
Content
Access to
Wide Variety of
Regional Content
Well Diversified
Distribution of
Multiplexes
across India
COMPANY OVERVIEW
PAN INDIA PRESENCE
South, 89
North, 86
South, 11
North, 17
West, 151
East, 67
West, 19
East, 8
102,785 Seats
101 Properties
South,
21,852
North,
21,826
South, 22
West,
41,409
East,
17,698
West, 37
North, 25 East, 17
26
BFSI
FMCG
ECOMMERCE
&TELECOMM.
OTHERS
27
THANK YOU
Nayana Borthakur
28