Television

Trilogic Digital Media to infuse fresh capital; to expand channel bouquet

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BENGALURU: Trilogic Digital Media Limited (TDM) informed the stock exchanges that its board had passed various resolutions to raise more money. The company has an authorised share capital of Rs 20 crore. Trilogic Digital Media Ltd has informed the BSE that its board of directors had fixed 12 February, 2015 as the record date for reckoning the shareholders entitled to receive the bonus shares of the company in the ratio of 1:1 (i.e., one fully paid up bonus equity shares for every one fully paid equity shares held) as approved by the members in the Annual General Meeting held on 20 September, 2014. The company also plans to up borrowings.

“The new capital that we plan to infuse in will be used for new expansions in our broadcast content management business. We should expand the kitty to between eight - ten channels from the current three that we manage in next couple of months,” revealed TDM CEO and CFO Vishal Gurnani. While refusing to share the channels that TDM plans to manage, Gurnani said that NDAs with the channels prevented him from revealing details at this stage.

Industry sources told Indiantelevision.com that the company plans to add channels from the regional space – South India and Bengal to be more precise.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

The resolutions that the TDM board passed are as follows:

To make preferential allotment of up to:

(a) Six lakh equity shares for consideration other than cash to non-promoters

(b) 100 lakh convertible warrants to promoters

(c) 40.5 lakh convertible warrants to non-promoters

At a price a price to be calculated as per SEBI (ICDR) Guidelines, 2009

(d) The board has approved the resolution for increase in the authorised share capital to Rs 40 crores

(e) The board has approved to increase the borrowings limits under Section 181 (1) (c) of the Companies Act, 2013.

(f)  The board has approved to increase the limit of loan and investment by the company under Section 186 of the Companies Act, 2013.

After weak performances since its inception, TDM had reported fair results during the previous financial year (FY-2014), but, over the past few quarters, there has been a noticeable dip in its numbers. For Q3-2015, TDM reported revenue of Rs 21.48 crore, 8.4 per cent lower than the Rs 23.45 crore in the trailing quarter and 35.2 per cent lower than the Rs 33.12 crore in the corresponding year ago quarter.

Despite lower revenue, the company’s profit after tax (PAT) for Q3-2015 at Rs 2.17 crore (10.1 per cent of revenue) was more than double (about 2.5 times) the Rs 0.88 crore (3.8 per cent of revenue) in Q2-2015, but below par as compared to the Rs 2.49 crore (7.5 per cent of TIO) in Q4-2014.

During 9M-2015, TDM reported revenue of Rs 71.39 crore and a PAT of Rs. 3.47 crore (4.9 per cent of revenue) as compared to the revenue of Rs 57.88 crore and a PAT of Rs 6.1 crore (10.5 per cent of revenue) in 9M-2014. For FY-2014, the company had reported revenue of Rs 74.74 crore and a PAT of Rs 8.49 crore (11.4 per cent of revenue).

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