Scrip
Code – 533261 / EROSMEDIA
CMP
– 221.95 BUY AT CURRENT LEVEL.
Medium
to long term target - 257-265
- Market capital – Rs 2,105.26 Cr
- Total shares – 9,19,73,190 shares
- Promoters – 6,88,33,290 shares ( 74.84% )
- Total public holdings – 2,31,39,900 shares ( 25.16% )
- Book value – 96.59 Rs Face value – 10.00 Rs
- Eps – 12.34 Rs Dividend – 15%
- P/E – 18.54 Times Ind P/E – 34.02
- Total debts – 384.08 Cr Enterprise value – 2,326.53 Cr
EROS INTERNATIONAL MEDIA:
EROS INTERNATIONAL MEDIA was incorporated as in 1977 and is based in
Mumbai, India. It was started by Mr. Arjan Lulla. It was earlier known as
Rishima International Private Ltd and changed its name to Eros Multimedia
Private Limited on July 25, 2000. Company again changed its name to Eros
International Media Private Ltd on Nov 20, 2008, On Nov 18, 2009 company again
changed its name to the present Eros International Media Ltd. It is subsidiary
of Eros Worldwide FZ Llc.
Eros International Media
Limited operates in the media and entertainment sector in India and
internationally. It engages in sourcing content through acquisition,
co-production, or production; the theatrical distribution network operation;
licensing films for cable, satellite, and terrestrial television; and the distribution
of Tamil film content in Western Europe through its own television station.
The
company came out with an IPO of about 2 Cr shares in September 2010 at Rs. 175
totaling to Rs. 350 Crs at the price of Rs. 175 and got listed at Rs. 213.35 on
6 Oct 2010. The purpose of the issue was to acquire and co-produce Indian
films. The company also distributes content through physical formats, such as
DVD, VCD, and Blu-rays, as well as the digital mediums comprising Video On
Demand, Direct To Home, Internet, mobile, and in-flight entertainment; and
involved in music publishing and distribution activities. In addition, it
provides production planning and visual effects services for films; engages in
the acquisition, production, and distribution of Tamil films worldwide; and
involved in cable or DTH licensing, as well as trading and exporting
international film rights. The company owns approximately 1,100 films
comprising Hindi, Tamil, and other regional languages & has aggregated
rights to over 1,900 films plus additional 700 films for which the company
holds digital rights only. In the year 2006, Eros International Plc, the
holding company of the Eros Group, became the first Indian company to list on
the Alternative Investment Market (AIM) of the London Stock Exchange. On
November 13, 2013, Eros International got listed on New York Stock Exchange at
$11.10 a share, post NYSE listing, the company has cancelled its shares from
Alternative Investment Market (AIM) london.
Eros International PLC, is the
Ultimate Holding Company based at Isle of Man, Eros Worldwide FZ-LLC is the
holding company based in UAE and the subsidiaries include - Eros International
Films Pvt Ltd, Copsale Ltd, Big Screen Entertainment Pvt Ltd, EyeQube Studios
Pvt Ltd, EM Publishing Pvt Ltd, Eros Animation Pvt Ltd, Eros Digital Pvt ltd,
Eros International Ltd (UK), Digicine PTE Ltd, Ayngaran International Ltd (Isle
of Man). It distributes content through retail outlets and it’s Website under
the Eros and Ayngaran labels. Eros International Media can be locally compared
with PVR Ltd, Prime Focus ltd, Reliance Broadcast Network Ltd, Balaji Telefilms
ltd, Media Matrix Worldwide Ltd, Shree Ashtavinayak Cine Vision Ltd, Tips
Industries Ltd and globally compared with Walt Disney Co of US California, Time
Warner Inc of USA, IG Port Incorporated of Japan, Twenty First Century Fox, Inc
of New York, Lions Gate Entertainment Corp of California, UTV Media PLC of UK,
Dreamworks Animation Skg Inc of California.
|
KEY FINANCIALS
|
FY13
|
FY14
|
FY15E
|
FY16E
|
|
SALES (₹ Crs)
|
1,068.00
|
1,135.00
|
1,344.00
|
1,490.00
|
|
NET PROFIT (₹ Cr)
|
154.00
|
200.00
|
223.00
|
253.00
|
|
EPS (₹)
|
16.80
|
21.70
|
24.20
|
27.50
|
|
PE (x)
|
11.30
|
8.80
|
7.90
|
6.90
|
|
P/BV (x)
|
1.80
|
1.40
|
1.20
|
1.00
|
|
EV/EBITDA (x)
|
8.70
|
6.60
|
6.00
|
5.60
|
|
ROE (%)
|
15.70
|
16.50
|
15.60
|
15.00
|
|
ROCE (%)
|
15.90
|
18.50
|
18.00
|
17.30
|
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