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Shemaroo Entertainment's Q4FY16 consolidated net profit rises 29% yoy to Rs.16.45 crore : Estimates Mixed

The company’s consolidated revenue stood at Rs. 102.76 crore, up 18.36% yoy and 1.74% qoq.

May 09, 2016 9:35 IST | India Infoline News Service
Shemaroo Entertainment, largest integrated Film & Entetrainment Content House, reported consolidated net profit of Rs. 16.45 crore for the quarter ended March 31, 2016, registering growth of 28.82% yoy and 28.32% qoq. The company’s revenue stood at Rs. 102.76 crore, up 18.36% yoy and 1.74% qoq.

Its consolidated core operating profit of Rs. 35.57 crore for the quarter, clocked growth of 34.63% yoy and 33.62% qoq. Operating profit margin for the current quarter at 34.61% expanded by 418 bps yoy and 825 bps qoq.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 52.14 crore, growing by 27.42% yoy. Its consolidated revenue for the period stood at Rs. 374.91 crore, registering growth of 15.87% yoy.

Shemaroo Entertainment Ltd's core operating profit stood at Rs. 109.78 crore, recording growth of 26.33% yoy. Operating margin for the current period at 30.43% expanded by 361 bps yoy.

On standalone basis,Shemaroo Entertainment reported standalone net profit of Rs. 18.29 crore for the quarter ended March 31, 2016, registering growth of 42.22% yoy and 35.58% qoq. The company’s revenue stood at Rs. 102.76 crore, up 18.5% yoy and 1.74% qoq.

Its standalone core operating profit of Rs. 35.75 crore for the quarter, clocked growth of 34.3% yoy and 33.3% qoq. Operating profit margin for the current quarter at 34.79% expanded by 409 bps yoy and 824 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 55.43 crore, growing by 32.58% yoy. Its standalone revenue for the period stood at Rs. 374.84 crore, registering growth of 15.89% yoy.

Shemaroo Entertainment's core operating profit stood at Rs. 110.54 crore, recording growth of 26.12% yoy. Operating margin for the current period at 30.63% expanded by 353 bps yoy.

Shemaroo’s Entertainment Q4FY16 numbers - a mixed bag:

Shemaroo’s Entertainment Q4FY16 consolidated numbers were a mixed bag. The company’s top line fell short of IIFL estimates by quite a big margin of 9%. However, the bottom line numbers were more or less in line with estimates on account of operational beat. The company’s expenditure came down sequentially by 9% even as it grew by 11.41% on yoy at Rs. 68.15 crore for the quarter ended March 31, 2016. Its other income at Rs. 34 crore for the quarter grew by 13.33% qoq, but declined 24.45% yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 102.76 113 [9.06]
Consolidated Net Profit 16.45 16.16 1.81

Corporate Action: Shemaroo Entertainment’s board of directors at its meeting held on May 06, 2016, has recommended final dividend at 14% for the financial year ended March 31, 2016, subject to approval of shareholders in the ensuing Annual General Meeting.

Consolidated EPS for the quarter stood at Rs. 6.05.

Bloomberg estimated the company’s standalone net profit at Rs. 15.70 crore.

Stock Commentary:

Shemaroo Entertainment is currently trading at Rs. 337, up by 8.5 points or 2.59% from its previous closing of Rs. 328.5 on the BSE.

The scrip opened at Rs. 339 and has touched a high and low of Rs. 342.1 and Rs. 335.4 respectively. So far 69180(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 892.94 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 375 on 12-Jan-2016 and a 52 week low of Rs. 198.2 on 07-May-2015. Last one week high and low of the scrip stood at Rs. 353 and Rs. 315 respectively.

The promoters holding in the company stood at 65.82 % while Institutions and Non-Institutions held 13.77 % and 20.41 % respectively.

The stock is currently trading below its 100 DMA.


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