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Report on Shemaroo

Digital drove Shemaroo revenue growth in fiscal 2019

Shemaroo's revenue growth was driven by a 31.6 percent growth in digital media

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BANGALORE: Indian household media and content brand Shemaroo Entertainment Ltd (Shemaroo) reported 16.1 percent growth in income from operations for the year ended 31 March 2019 (FY 2019, fiscal 2019, year under review) as compared to the previous year FY 2018. The company’s revenue growth was driven by a 31.6 percent growth in digital media and 10.4 percent growth in traditional media revenues during the year under review as compared to the previous year. The approximate ratio of revenue is 70: 30 for traditional media : digital media.

Shemaroo reported Rs 567.83 crore as income from operations for fiscal 2019, while income from operations for FY 2018 was Rs 489.13 crore. Revenues from traditional media for the period under review were Rs 3,960 crore versus Rs 358.6 crore in FY 2018. Digital Media revenues for fiscal 2019 were Rs 171.8 crore versus Rs 130.5 crore in the previous year.

The company reported 16 percent growth in profit after tax (PAT) at Rs 82.67 crores in FY 2019 as compared to Rs 71.25 crore in the previous year. PAT after adjustments increased 16.6 percent to Rs 82.95 crore in FY 2019 from Rs 71.16 crore in FY 2018. EBITDA increased 11 percent in FY 2019 to Rs 159.6 crore (28 percent margin) from Rs 143.8 crore (29.3 percent margin) in FY 2018.

Shemaroo’s Digital Media includes (a) Internet and OTT – it has agreements with various internet video platforms like YouTube, Hotstar, Reliance Jio, Apple iTunes, Google Play, YuppTV, etc. (b) Mobile Value Added Services/Mobile Internet - The company has agreements with major telecom operators, namely Airtel, Vodafone, Idea, etc., and Shemaroo distributes imagery, videos, full songs, live streaming etc. under MVAS through both operator-branded portals as well as its own branded portals.

Shemaroo Traditional Media comprises of (a) Television Syndication -Shemaroo has a diverse content library which it syndicates rights to various Satellite Channels, Cable & Terrestrial Networks. (b) Subscription Based Services - In partnership with major DTH and Cable operators, Shemaroo operates subscription-based, ad-free content services across various genres like movies, devotion, comedy and regional.

Let us look at the other numbers reported by Shemaroo

Total expenses increased 15.4 percent in FY 2019 to Rs 441.17 crore from Rs 382.38 crore in the previous year. Cost of raw materials consumed increased 14.1 percent in FY 2019 to Rs 317.55 crore from Rs 278.28 crore in FY 2018. Employee benefits expense for the year increased 38.8 percent in FY 2019 to Rs 55.09 crore from Rs 39.69 crore in the previous year. Finance costs reduced 16.8 percent during the year under review to Rs 25.57 crore from Rs 30.72 crore in the previous year. Other expenses increased by 30.8 percent to Rs 37.38 crore from Rs 28.57 crore in the previous year.

Shemaroo’s board of directors has recommended final dividend at 16.50 percent (i.e. Rs 1.65 per equity share of Rs 10 each) for the financial year ended March 31, 2019, subject to approval of shareholders at the ensuing annual general meeting.

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