Mukta Arts Limited · NSE:MUKTAARTS
Mukta Arts — Investor Presentation (January 2018)
36 slides from Mukta Arts's investor presentation, January 2018
Slide 1: Investor Presentation January 2018
INVESTOR PRESENTATION JANUARY 2018
Slide 2: Disclaimer
DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by Mukta Arts Limited (“Mukta” or the Company) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial cond
Slide 3: Discussion Summary
DISCUSSION SUMMARY 4 COMPANY OVERVIEW 9 EXHIBITION BUSINESS 22 EDUCATION BUSINESS 26 OTHER BUSINESSES 29 CONSOLIDATED FINANCIALS 3
Slide 4: Overview
OVERVIEW
Slide 5: Differentiated Business Model Across Entire Film Industry Value Chain
COMPANY OVERVIEW DIFFERENTIATED BUSINESS MODEL ACROSS ENTIRE FILM INDUSTRY VALUE CHAIN • Leading production house in India with a rewarding • Well penetrated Distribution network presents legacy of more than 30 years opportunities for other business opportunities • Pioneered by multidimensional foun
Slide 6: Organisational Structure
COMPANY OVERVIEW ORGANISATIONAL STRUCTURE MUKTA ARTS LIMITED – 7 SUBSIDIARIES FILM PRODUCTION 100.00% 84.99% 55.00% 99.92% 100.00% 100.00% Mukta A2 Cinemas Whistling Woods Mukta V N Films Mukta Telemedia Coruscant Tec Mukta Creative Limited (Mumbai) International Limited Limited Limited Private Vent
Slide 7: Board of Directors
COMPANY OVERVIEW BOARD OF DIRECTORS Mr. Subhash Ghai Mr. Rahul Puri Mr. Parvez Farooqui Executive Chairman Managing Director Executive Director ▪ One of India's most prolific ▪ Associated with Mukta Arts ▪ Joined Mukta Arts in 2003 film writer, director and since 1984 ▪ Head of Academics at producer
Slide 8: Management
COMPANY OVERVIEW MANAGEMENT Mr. Prabuddha Dasgupta Mrs. Meghna Ghai Puri Mr. Ashish Gharde CFO President, Whistling Woods COO, Mukta Arts Ltd. ▪ Chartered Accountant with ▪ Honorary Fellow of Bradford ▪ 18 years of experience in over 20 years of experience College, UK Operations and Human in finance
Slide 9: Exhibition Business
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Slide 10: Indian Film Exhibition – Long Term Sustainable Growth Opportunity
EXHIBITION BUSINESS INDIAN FILM EXHIBITION – LONG TERM SUSTAINABLE GROWTH OPPORTUNITY THEATRICAL MOVIE WATCHING IS THE MOST FAVOURITE ENTERTAINMENT OPTION IN INDIA INDIA RELEASES HIGHEST NUMBER OF MOVIES IN A YEAR INDIA WITNESSES 2ND HIGHEST NUMBER OF THEATRE FOOTFALLS IN A YEAR 1,602 2,178 1,930 Mi
Slide 11: Indian Film Exhibition – Long Term Sustainable Growth Opportunity
EXHIBITION BUSINESS INDIAN FILM EXHIBITION – LONG TERM SUSTAINABLE GROWTH OPPORTUNITY INDIA IS LARGELY UNDERSCREENED WITH SIGNIFICANT POTENTIAL FOR NEW SCREEN ADDITIONS ACROSS TIER 2 AND TIER 3 CITIES MOVIE SCREENS IN INDIA ARE STILL THE LOWEST 125 95 80 Screens / Million population 60 57 AFFORDABLE
Slide 12: Mukta A2 Cinemas – Unique Value Proposition
EXHIBITION BUSINESS MUKTA A2 CINEMAS – UNIQUE VALUE PROPOSITION WE OFFER “VALUE FOR MONEY & HIGH QUALITY” MOVIE WATCHING EXPERIENCE IN INDIA WE LEVERAGE OUR EXPERIENCE AND CAPABILITIES WE BRING MOVIE WATCHING EXPERIENCE FOR EVERY INDIAN More than 30 years of experience in the film industry 19 MULTIP
Slide 13: Mukta A2 Cinemas – Our Growing Presence
EXHIBITION BUSINESS MUKTA A2 CINEMAS – OUR GROWING PRESENCE 25 20 20 13 20 15 11 10 4 5 0 FY14 FY15 FY16 FY17 Q2 FY18 Number of Properties 60 51 51 50 40 31 36 30 19 20 10 0 FY14 FY15 FY16 FY17 Q2 FY18 Number of Screens 234 234 195 184 187 11,912 11,912 5,718 6,748 3,700 FY14 FY15 FY16 FY17 Q2 FY18
Slide 14: Mukta A2 Cinemas – Our Properties
EXHIBITION BUSINESS MUKTA A2 CINEMAS – OUR PROPERTIES 14
Slide 15: Mukta A2 Cinemas – Q2 & H1 FY18 Result Highlights
EXHIBITION BUSINESS MUKTA A2 CINEMAS – Q2 & H1 FY18 RESULT HIGHLIGHTS In Rs. Mn Q2 FY18 YoY ANALYSIS REVENUES EBITDA and EBITDA MARGIN PBT * and PBT MARGIN 9.1% 118.4 127.4 -2.5% 10.8 -1.3% -11.2% 8% -115 % -382 % (1.7) -3.0 -14.2 Q2 FY17 Q2 FY18 Q2 FY17 Q2 FY18 Q2 FY17 Q2 FY18 EBIDTA EBIDTA % PBT P
Slide 16: Mukta A2 Cinemas – Q2 FY18 Result Highlights
EXHIBITION BUSINESS MUKTA A2 CINEMAS – Q2 FY18 RESULT HIGHLIGHTS Q2 FY18 YoY ANALYSIS FOOTFALLS (‘000) & OCCUPANCY (%) * REVENUE PER FOOTFALL (Rs) * REVENUES - SEGMENT BREAKUP 118.4 127.4 25.0% 4.0% 2.9% 22.0% 2.8% 2.5% 102.0 93.0 24.3% 23.6% 887.1 879.2 10 % -1 % 32.0 35.0 69.6% 70.3% 9% Q2 FY17 Q2
Slide 17: Mukta A2 Cinemas – Operational Summary
EXHIBITION BUSINESS MUKTA A2 CINEMAS – OPERATIONAL SUMMARY OTHER REVENUES (Rs Mn) OTHER OPERATING COSTS (Rs Mn) 4.7 3.7 3.3 3.2 84.5 63.9 Q2 FY17 Q2 FY18 22.1 Advertising Revenues (Rs Mn) Other Operating Revenues (Rs Mn) 18.9 15.7 DISTRIBUTOR SHARE % & ET % * 15.3 21.2 13.3 3.2 52.6% 1.8 22.3 43.2%
Slide 18: Mukta A2 Cinemas – H1 FY18 Result Highlights
EXHIBITION BUSINESS MUKTA A2 CINEMAS – H1 FY18 RESULT HIGHLIGHTS H1 FY18 YoY ANALYSIS FOOTFALLS (‘000) & OCCUPANCY (%) * REVENUE PER FOOTFALL (Rs) * REVENUES - SEGMENT BREAKUP 27.0% 238.4 302.3 25.0% 5.2% 2.1% 111.0 2.6% 2.3% 1993.2 22.7% 1798.0 91.0 23.7% 22 % 11 % 31.0 34.0 68.5% 72.9% 10 % H1 FY1
Slide 19: Mukta A2 Cinemas – Operational Summary
EXHIBITION BUSINESS MUKTA A2 CINEMAS – OPERATIONAL SUMMARY OTHER REVENUES (Rs Mn) OTHER OPERATING COSTS (Rs Mn) 12.5 6.4 174.8 118.3 6.1 6.8 38.0 H1 FY17 H1 FY18 38.0 Advertising Revenues (Rs Mn) Other Operating Revenues (Rs Mn) 30.5 29.5 39.7 DISTRIBUTOR SHARE % & ET % * 9.1 25.5 6.3 50.0 45.1% 47.
Slide 20: Bahrain Multiplex (6 Screens) – Q2 & H1 FY18 Result Highlights
EXHIBITION BUSINESS BAHRAIN MULTIPLEX (6 Screens) – Q2 & H1 FY18 RESULT HIGHLIGHTS Q2 & H1 FY18 YoY ANALYSIS In Rs. Mn FOOTFALLS (‘000) & OCCUPANCY (%) REVENUE PER FOOTFALL (Rs) REVENUES - SEGMENT BREAKUP 9.0% 9.4% 46.6 90.1 669.9 662.8 0.8% 0.9% 97.4 7.4% 7.6% 21.4% 20.1% 49.0 202.8 186.3 70.4% 71.
Slide 21: Mukta A2 Cinemas – Business Model
EXHIBITION BUSINESS MUKTA A2 CINEMAS – BUSINESS MODEL “LOW FIXED OPEX” AND “CAPEX LIGHT” – DIFFERENTIATED BUSINESS MODEL CAPITALISING ON UNDER-PENETRATED MARKETS: CAPEX MODELS • Focus on providing affordable and high quality movie viewing experience Model 1: • Focus on organic growth in under-penetr
Slide 22: Education Business
EDUCATION BUSINESS
Slide 23: Whistling Woods International – Q2 FY18 Result Highlights
EDUCATION BUSINESS WHISTLING WOODS INTERNATIONAL – Q2 FY18 RESULT HIGHLIGHTS Q2 FY18 YoY ANALYSIS In Rs. Mn REVENUES * EBITDA ** and EBITDA MARGIN PAT and PAT MARGIN 59.0% 44.6% 176.7 40.5% 104.2 78.8 108.3 17.0% 43.8 18.4 63 % 138 % 329 % Q2 FY17 Q2 FY18 Q2 FY17 Q2 FY18 Q2 FY17 Q2 FY18 EBITDA EBITD
Slide 24: Whistling Woods International – H1 FY18 Result Highlights
EDUCATION BUSINESS WHISTLING WOODS INTERNATIONAL – H1 FY18 RESULT HIGHLIGHTS H1 FY18 YoY ANALYSIS In Rs. Mn REVENUES * EBITDA ** and EBITDA MARGIN PAT and PAT MARGIN 38.6% 20.5% 237.1 29.1% 91.4 48.6 162.5 -5.3% 47.3 46 % 93 % 466 % -8.6 H1 FY17 H1 FY18 H1 FY17 H1 FY18 H1 FY17 H1 FY18 EBIDTA EBIDTA
Slide 25: Whistling Woods International
EDUCATION BUSINESS WHISTLING WOODS INTERNATIONAL INDIA’S PREMIER FILM, COMMUNICATION & MEDIA ARTS INSTITUTE WWI IS ONE OF THE ASIA’S LARGEST MEDIA ARTS INSTITUTES RATED AMONGST THE TOP 10 FILM SCHOOLS IN THE WORLD 5.5 Acre 10 Schools 15% 95% 948 Students Campus 14 Courses International Students Succ
Slide 26: Whistling Woods International – Achievements and Partners
EDUCATION BUSINESS WHISTLING WOODS INTERNATIONAL KEY ACHIEVEMENTS ACADEMIC PARTNERS TECHNOLOGY PARTNERS • Rated as one of the 10 best film schools in the world - by ‘The Hollywood Reporter’ magazine • Member of CILECT (amongst the 160 schools out of the 3,000+ film schools globally) • Partnered with
Slide 27: Whistling Woods International – Operational Highlights
EDUCATION BUSINESS WHISTLING WOODS INTERNATIONAL – OPERATIONAL HIGHLIGHTS NUMBER OF STUDENTS REVENUES (RS MN) CAGR 20% 948 333.7 824 750 New students 270.2 addition is 214.6 237.1 550 450 gaining strong 178.7 momentum FY14 FY15 FY16 FY17 H1 FY18 FY14 FY15 FY16 FY17 H1 FY18 EBITDA (RS MN) & EBITDA MA
Slide 28: Other Businesses
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Slide 29: Other Businesses – Film Production
OTHER BUSINESSES FILM PRODUCTION MUKTA ARTS IS ONE OF THE LEADING PRODUCTION HOUSES IN INDIA • Successful operating history for over last 30 years since inception • Founded by Mr Subhash Ghai – one of the India's most prolific film writer, director and producer • Strong repertoire of more than 35 co
Slide 30: Film Distribution & Programming, Digital Content
OTHER BUSINESSES FILM DISTRIBUTION & PROGRAMMING, DIGITAL CONTENT FILM DISTRIBUTION • One of India’s leading film distributors releasing over 50 films every year • 9 offices across India with strong presence in North India (Punjab, Delhi, UP, Indore) • Works with leading production companies – 20th
Slide 31: Consolidated Financials
CONSOLIDATED FINANCIALS 31
Slide 32: Consolidated Profit & Loss Statement – Q2 & H1 FY18
CONSOLIDATED PROFIT & LOSS STATEMENT – Q2 & H1 FY18 Particulars (Rs Mn) Q2 FY18 Q2 FY17 YoY % Q1 FY18 QoQ % H1 FY18 H1 FY17 YoY % Revenue from Operations 371.1 259.1 43% 301.7 23% 672.8 460.6 46% Net Box Office Collection 168.9 118.4 43% 214.7 -21% 383.6 238.4 61% Software 2.6 1.2 125% 4.5 -42% 7.2
Slide 33: Consolidated Profit & Loss Statement
CONSOLIDATED PROFIT & LOSS STATEMENT Particulars (Rs Mn) FY13 FY14 FY15 FY16 FY17 Revenue from Operations 2,797 3,083 1,314 884 1,030 Net Box Office Collection 39 127 209 302 391 Food & beverages 11 35 68 101 126 Software 2,460 2,628 720 102 55 Education 200 169 209 270 334 Equipment Hire 4 4 3 4 3
Slide 34: Consolidated Balance Sheet – H1 FY18
CONSOLIDATED BALANCE SHEET – H1 FY18 Particulars (Rs Mn) H1 FY18 Particulars (Rs Mn) H1 FY18 Fixed Assets 679 Shareholders' Funds 407 Non-Current Assets 1,012 Share Capital 113 Non-Current Investments 391 Reserves and Surplus 294 Other Non-Current Assets 540 Minority Interest - Other Intangible Asse
Slide 35: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (Rs Mn) FY13 FY14 FY15 FY16 FY17 Particulars (Rs Mn) FY13 FY14 FY15 FY16 FY17 Fixed Assets 816 861 870 904 1,092 Shareholders' Funds 601 528 467 435 362 Non-Current Assets 273 528 305 358 385 Share Capital 113 113 113 113 113 Non-Current Investments 10 10 18 18
Slide 36: For Further Queries
FOR FURTHER QUERIES Mr. Prabuddha Dasgupta CFO Email: prabuddha@muktaarts.com Mr. Ravindra Bhandari / Mr. Arun Prakash IR Consultant Email: ravindra.bhandari@dickensonir.com / arun.prakash@dickensonir.com Contact no: +91 92836 14197 / +91 75069 33892 36