Fiction
FY-2015: Despite lower revenue, Balaji Telefilms back in the black; board recommends 30% dividend
BENGALURU: Balaji Telefilms Limited (Balaji Telefilms) reported 15 per cent decline in consolidated Total Income from Operations (TIO) at Rs 346.49 crore in FY-2015 (year ended 31 March, 2015, current year) as compared to Rs 407.46 crore in the previous year. The company reported a consolidated profit after tax (PAT) of Rs 5.62 crore (1.6 per cent of TIO) as compared to a loss of Rs 17.21 crore in the previous year, (FY-2014 results had included survival benefits of a keyman insurance policy to the extent of Rs 6.73 crore).
Note: (1)100,00,000 = 100 lakh = 10 million = 1 crore
(2) All numbers are consolidated unless stated otherwise.
Consolidated operating revenue in Q4-2015 declined 8.8 per cent to Rs 76.94 crore as compared to Rs 84.4 crore in Q4-2014, but improved 7.5 per cent from Rs 71.54 crore in Q3-2015.
The company reported a positive consolidated EBIDTA in FY-2015 of Rs 6.06 crore as compared to negative EBIDTA (operating loss) of Rs 21.78 crore in the previous year. Consolidated EBIDTA in Q4-2015 was Rs 8.04 crore as compared to negative EBIDTA (operating loss) of Rs 22.37 crore in Q4-2014 and negative EBIDTA (operating loss) of Rs 6.91 crore in Q3-2015.
Balaji Telefilms’ consolidated cost of production of movies and television serials in FY-2015 declined 23 per cent to Rs 296.53 crore as compared to the Rs 395.09 crore reported in FY-2014. Consolidated cost of production of movies and television serials declined 36.1 per cent in Q4-2015 to Rs 59.84 crore as compared to the Rs 93.63 crore in Q4-2014 and declined 13.4 per cent as compared to the Rs 69.14 crore in Q3-015.
Revenue Streams
The following subsidiaries, LLPs’ and revenue streams contribute to Balaji Telefilms consolidated numbers: Balaji Telefilms standalone; wholly owned subsidiaries BMPL and Boll Media Limited; other subsidiaries and LLP – Marinating Films and Event Media LLP.
Balaji Television
On a standalone basis, Balaji Telefilms Total Operating Revenue (TOR) in FY-2015 increased 59 per cent to Rs 205.76 crore as compared to the Rs 129.20 crore in FY-2015. TOR in Q4-2015 at Rs 60.64 crore was 51.4 per cent more than the Rs 40.07 crore in Q4-2014 and 3.6 per cent more than the Rs 58.53 crore in Q3-2015.
Standalone PAT in FY-2015 at Rs 12.27 crore was 22.5 per cent more than the Rs 10.02 crore in FY-2014. Standalone PAT in Q4-2015 was Rs 9.61 crore as compared to PAT of Rs 0.13 crore in Q4-2014 and Rs 3.09 crore in Q3-2015.
Standalone cost of production in FY-2015 at Rs 166.80 crore was 65.8 per cent higher than the Rs 100.6 crore in FY-2014.Standalone cost of production increased by 74 per cent in Q4-2015 to Rs 44.91 crore from Rs 25.82 crore in Q4-2014, but declined 5.7 per cent from Rs 47.61 crore in the previous quarter.
Excluding regional segment and events, on a standalone basis, Balaji Telefilms reported a 49.1 per cent growth in programming hours in the current quarter (Q4-2015) to 258 hours as compared to 177 hours in Q4-2014, but a decline of 6.9 per cent from the 277 hours in the previous quarter (Q3-2015).
The company’s revenue per hour increased by 0.7 per cent to Rs 23.06 lakh in Q4-2015 as compared to the Rs 22.90 lakh in Q4-2014, and increased by 11.7 per cent from the Rs 20.64 lakh in the immediate trailing quarter.
Balaji Telefilms Stock movement
The board of directors of the company has recommended a dividend of Rs 0.60 per equity share having face value of Rs 2 each, or 30 per cent, as compared to the Rs 0.40 per share (20 per cent) in the previous year.
The script closed at Rs 75.10 per equity share on the Bombay Stock Exchange (BSE), up 5.92 percent (up Rs 4.20) from the previous close of Rs 70.90. The share had opened at Rs 73.50 today and saw a volume of 415349 shares. The BSE Sensex witnessed fall of 27.86 points to close at 27809.35 points today.
On the National Stock Exchange (NSE), Balaji Telefilms shares closed at Rs 75.05 each, up 6.23 per cent (Rs 4.40) from the previous close of Rs 70.65 each. The share had opened at Rs 73 today on the NSE and saw a volume of 1627950 shares. NSE’s Nifty closed at 8241 points, down 2.25 points from yesterday.
Fiction
Banijay merges with All3Media in $6.65 billion deal
Marco Bassetti will lead the combined company as CEO
PARIS: Six years after acquiring Endemol Shine at the height of the pandemic, Banijay has struck again. The European production heavyweight is merging with All3Media in a deal that will create a television titan with $6.65 billion in revenue and redraw the contours of a fast-consolidating market.
The combined company will trade under the Banijay name and be owned 50 per cent each by Banijay Group and RedBird IMI, which acquired All3Media in 2024. The transaction is expected to close by autumn, subject to regulatory approvals.
Banijay Entertainment CEO Marco Bassetti, will take the top job at the enlarged group. All3Media CEO Jane Turton becomes deputy CEO. RedBird IMI CEO Jeff Zucker will serve as chairman.
The logic is scale. Broadcasters are commissioning less, streamers are tightening budgets and global buyers are fewer but bigger. Against that backdrop, heft matters. The merged entity will generate roughly $6.65 billion in revenues based on 2024 figures, giving it sharper elbows in rights negotiations and deeper pockets for franchise-building.
“Entrepreneurialism, ambition and creativity” remain core to Banijay’s DNA, Bassetti said, flagging plans to invest more heavily in new intellectual property, live events and emerging platforms. Turton struck a similarly bullish note, pointing to All3Media’s journey from a 2003 start-up to a global supplier of hit formats and high-end drama.
Between them, the two groups control a formidable slate. Banijay’s catalogue spans MasterChef, Big Brother, Survivor, Black Mirror, Peaky Blinders and Deal or No Deal. All3Media’s labels include Studio Lambert, producer of The Traitors and Squid Game: The Challenge; Two Brothers, behind The Tourist; and Neal Street, currently producing the forthcoming Beatles biopics directed by Sam Mendes for Sony.
The back catalogue is equally muscular. Banijay Rights holds some 220,000 hours, while All3Media International adds around 35,000 hours, forming one of the industry’s largest libraries.
Banijay, controlled by French entrepreneur Stéphane Courbit and listed in Amsterdam, counts more than 130 production companies across 25 territories. All3Media operates over 40 labels, with strong positions in the UK, US and Germany. The enlarged group will also lean into live entertainment, building on Banijay’s Balich Wonder Studio, which produced the opening ceremony of the Milan-Cortina Winter Olympics, and the Independents.
The deal marks a shift in tone. As recently as October, Bassetti suggested that mergers and acquisitions were not a priority. But the drumbeat of consolidation has grown louder. Mediawan has moved for Peter Chernin’s North Road. David Ellison’s Paramount has agreed to a $110 billion takeover of Warner Bros, with plans to combine HBO Max and Paramount plus. ITV has explored selling its media and entertainment arm to Comcast-owned Sky, though talks have reportedly slowed.
