BSE: 538685 | NSE: SHEMAROO | Film Production, Distribution & Entertainment | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Shemaroo Entertainment Ltd is a average quality company.
The key valuation ratios of Shemaroo Entertainment Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Shemaroo Entertainment Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.7% | 21.9% | 19.9% | 19.3% | 21.3% | 7.3% | 0.9% | 3.7% | 4.8% | -0.5% | - |
| Value Creation Index ⓘ | 0.6 | 0.6 | 0.4 | 0.4 | 0.5 | -0.5 | -0.9 | -0.7 | -0.7 | -1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 323 | 375 | 415 | 477 | 548 | 480 | 305 | 368 | 535 | 677 | 639 |
| Sales YoY Gr. | - | 15.9% | 10.7% | 15% | 15% | -12.5% | -36.4% | 20.6% | 45.4% | 26.5% | - |
| Adj EPS ⓘ | 15.5 | 20.4 | 22.9 | 25.6 | 31.7 | 11.6 | -6.9 | 2.6 | 2.4 | -16 | -32.8 |
| YoY Gr. | - | 31.8% | 12.6% | 11.5% | 23.9% | -63.5% | -160% | NA | -9.2% | -773.8% | - |
| BVPS (₹) ⓘ | 118.1 | 136.9 | 159.5 | 183.5 | 213.5 | 220.6 | 213.8 | 216.2 | 218.5 | 202.5 | 187.5 |
| Adj Net Profit ⓘ | 42 | 55.3 | 62.3 | 69.5 | 86.1 | 31.4 | -18.9 | 7.1 | 6.5 | -43.5 | -90 |
| Cash Flow from Ops. ⓘ | -29.4 | -42.1 | -59.5 | 145 | 22.4 | 8.7 | -8.8 | 41.8 | -14.1 | 24.6 | - |
| Debt/CF from Ops. ⓘ | -3.6 | -4.7 | -5 | 1.4 | 9 | 26.4 | -29.6 | 5.9 | -22.7 | 13.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8.6% | 4.3% | 30.4% | 26.5% | ||||
| Adj EPS ⓘ | -200.4% | -187.2% | NA | -773.8% | ||||
| BVPSⓘ | 6.2% | -1.1% | -1.8% | -7.3% | ||||
| Share Price | -2.6% | 2.1% | 4.1% | 10.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 16.8 | 16 | 15.5 | 14.9 | 16 | 5.3 | -3.2 | 1.2 | 1.1 | -7.6 | -16.8 |
| Op. Profit Mgn % ⓘ | 27.3 | 29.5 | 31.1 | 29.5 | 29.4 | 15.7 | 4.6 | 10.1 | 8.3 | -0.5 | -11 |
| Net Profit Mgn % ⓘ | 13 | 14.8 | 15 | 14.6 | 15.7 | 6.6 | -6.2 | 1.9 | 1.2 | -6.4 | -14 |
| Debt to Equity ⓘ | 0.3 | 0.5 | 0.7 | 0.4 | 0.4 | 0.4 | 0.5 | 0.4 | 0.5 | 0.6 | 0 |
| Working Cap Days ⓘ | 456 | 496 | 581 | 541 | 485 | 617 | 1,000 | 838 | 626 | 520 | 241 |
| Cash Conv. Cycle ⓘ | 398 | 426 | 504 | 493 | 451 | 562 | 899 | 726 | 503 | 392 | 124 |
Sales growth is growing at healthy rate in last 3 years 30.42%
Debt to equity has declined versus last 3 years average to 0.61
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at 0.95%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -32.8 | -32.1 |
| TTM Sales (₹ Cr.) | 639 | 671 |
| BVPS (₹.) ⓘ | 187.5 | 187.9 |
| Reserves (₹ Cr.) ⓘ | 485 | 486 |
| P/BV ⓘ | 0.86 | 0.86 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 130.05 / 239.80 |
| All Time Low / High (₹) | 41.80 / 595.00 |
| Market Cap (₹ Cr.) | 440 |
| Equity (₹ Cr.) | 27.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 44.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 323 | 375 | 415 | 477 | 548 | 480 | 305 | 368 | 535 | 677 |
| Operating Expenses ⓘ | 235 | 264 | 286 | 336 | 387 | 405 | 291 | 332 | 491 | 680 |
| Manufacturing Costs | 20 | 35 | 49 | 38 | 42 | 38 | 71 | 78 | 135 | 172 |
| Material Costs | 186 | 191 | 189 | 235 | 259 | 273 | 140 | 160 | 235 | 331 |
| Employee Cost | 18 | 23 | 30 | 39 | 54 | 65 | 57 | 66 | 83 | 112 |
| Other Costs ⓘ | 12 | 16 | 18 | 24 | 31 | 28 | 23 | 28 | 38 | 66 |
| Operating Profit ⓘ | 88 | 111 | 129 | 141 | 161 | 75 | 14 | 36 | 44 | -3 |
| Operating Profit Margin (%) | 27.2% | 29.5% | 31.0% | 29.5% | 29.4% | 15.7% | 4.5% | 9.8% | 8.3% | -0.5% |
| Other Income ⓘ | 1 | 2 | 5 | 2 | 2 | 2 | 1 | 2 | 3 | 5 |
| Interest ⓘ | 22 | 23 | 33 | 31 | 26 | 23 | 27 | 25 | 30 | 36 |
| Depreciation ⓘ | 4 | 4 | 4 | 5 | 6 | 7 | 7 | 7 | 5 | 6 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -11 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 64 | 86 | 96 | 106 | 132 | 35 | -19 | 7 | 13 | -40 |
| Tax ⓘ | 22 | 31 | 34 | 37 | 46 | 11 | 0 | 0 | 5 | 2 |
| Profit After Tax | 42 | 55 | 62 | 69 | 86 | 24 | -19 | 6 | 7 | -43 |
| PAT Margin (%) | 12.9% | 14.8% | 14.9% | 14.6% | 15.7% | 5.0% | -6.3% | 1.8% | 1.4% | -6.3% |
| Adjusted EPS (₹) | 15.4 | 20.4 | 22.8 | 25.6 | 31.7 | 8.8 | -7.1 | 2.4 | 2.7 | -15.7 |
| Dividend Payout Ratio (%) | 8% | 7% | 6% | 6% | 5% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 321 | 372 | 433 | 499 | 580 | 600 | 581 | 588 | 594 | 551 |
| Share Capital ⓘ | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
| Reserves ⓘ | 294 | 345 | 406 | 472 | 553 | 572 | 554 | 560 | 567 | 524 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 106 | 177 | 267 | 188 | 197 | 221 | 254 | 239 | 313 | 332 |
| Long Term Debt | 0 | 23 | 13 | 2 | 0 | 24 | 17 | 12 | 13 | 7 |
| Short Term Debt | 105 | 154 | 254 | 186 | 197 | 197 | 237 | 228 | 300 | 325 |
| Trade Payables | 17 | 11 | 20 | 18 | 30 | 46 | 25 | 48 | 88 | 101 |
| Others Liabilities ⓘ | 49 | 61 | 70 | 35 | 35 | 19 | 15 | 13 | 42 | 24 |
| Total Liabilities ⓘ | 493 | 621 | 790 | 740 | 843 | 885 | 875 | 888 | 1,036 | 1,008 |
Fixed Assets | ||||||||||
| Gross Block | 61 | 64 | 34 | 72 | 75 | 85 | 86 | 76 | 94 | 107 |
| Accumulated Depreciation | 31 | 35 | -1 | 39 | 44 | 51 | 58 | 54 | 58 | 63 |
| Net Fixed Assetsⓘ | 29 | 29 | 34 | 33 | 31 | 34 | 27 | 22 | 36 | 44 |
| CWIP ⓘ | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Investmentsⓘ | 20 | 12 | 12 | 35 | 25 | 14 | 6 | 5 | 17 | 14 |
| Inventories | 288 | 384 | 497 | 515 | 601 | 711 | 730 | 715 | 730 | 676 |
| Trade Receivables | 127 | 107 | 190 | 139 | 157 | 81 | 53 | 55 | 123 | 142 |
| Cash Equivalents | 2 | 1 | 1 | 1 | 1 | 1 | 7 | 7 | 1 | 0 |
| Others Assetsⓘ | 26 | 87 | 55 | 17 | 28 | 45 | 53 | 84 | 127 | 132 |
| Total Assets ⓘ | 493 | 621 | 790 | 740 | 843 | 885 | 875 | 888 | 1,036 | 1,008 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -29 | -42 | -59 | 145 | 22 | 9 | -9 | 42 | -14 | 25 |
| PBT ⓘ | 64 | 86 | 96 | 106 | 132 | 46 | -19 | 7 | 13 | -40 |
| Adjustment ⓘ | 24 | 26 | 33 | 35 | 31 | 31 | 39 | 32 | 39 | 57 |
| Changes in Working Capital ⓘ | -90 | -127 | -171 | 54 | -97 | -28 | -15 | 22 | -52 | 14 |
| Tax Paid ⓘ | -28 | -27 | -18 | -50 | -43 | -39 | -13 | -19 | -13 | -6 |
| Cash Flow From Investing Activity ⓘ | -10 | -4 | -4 | -14 | 7 | -8 | 7 | -2 | -31 | -6 |
| Capex | -2 | -5 | 0 | 0 | -4 | -7 | -1 | -3 | -20 | -10 |
| Net Investments | -8 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | -7 | -4 | -14 | 11 | -1 | 8 | 1 | -12 | 4 |
| Cash Flow From Financing Activityⓘ | 41 | 45 | 63 | -131 | -29 | -1 | 2 | -40 | 45 | -19 |
| Net Proceeds from Shares ⓘ | 109 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Net Proceeds from Borrowing ⓘ | -10 | 23 | -7 | -27 | -10 | 28 | -10 | -5 | 2 | -7 |
| Interest Paid ⓘ | -21 | -23 | -32 | -31 | -25 | -23 | -27 | -25 | -30 | -36 |
| Dividend Paid ⓘ | -1 | -3 | -4 | -4 | -4 | -4 | 0 | 0 | 0 | 0 |
| Others ⓘ | -36 | 48 | 106 | -69 | 10 | -2 | 39 | -10 | 72 | 24 |
| Net Cash Flow ⓘ | 2 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 16.77 | 15.99 | 15.38 | 14.91 | 15.96 | 4.03 | -3.26 | 1.1 | 1.23 | -7.44 |
| ROCE (%) | 22.65 | 21.91 | 19.91 | 19.26 | 21.25 | 7.25 | 0.9 | 3.74 | 4.83 | -0.45 |
| Asset Turnover Ratio | 0.71 | 0.67 | 0.59 | 0.62 | 0.69 | 0.56 | 0.35 | 0.42 | 0.56 | 0.66 |
| PAT to CFO Conversion(x) | -0.69 | -0.76 | -0.95 | 2.1 | 0.26 | 0.38 | N/A | 7 | -2 | N/A | Working Capital Days |
| Receivable Days | 151 | 114 | 131 | 126 | 98 | 90 | 80 | 54 | 61 | 72 |
| Inventory Days | 274 | 327 | 388 | 387 | 371 | 499 | 862 | 716 | 493 | 379 |
| Payable Days | 46 | 27 | 30 | 29 | 33 | 50 | 92 | 84 | 106 | 105 |
Shemaroo Entertainment was originally incorporated as a private limited company under the Companies Act, 1956 on December 23, 2005 with the name Shemaroo Holdings Private Limited. On May 28, 2008, the name of the company was changed to Shemaroo Entertainment Private Limited. Established as a book circulating library, today the company is an established integrated media content house in India with activities across content acquisition, value addition to content and content distribution.
The company is engaged in the business of Aggregation, Production and Co- Production of Cinematograph Films, Dramas etc., and subsequently exploiting and distributing rights of Films, Dramas across the world through various medium such as television licensing , DVD and VCD release, exploiting various rights of the content through new distribution avenues such as IPTV, VOD and mobile platform. The Company houses state-of-the-art studio facilities, equipped with highly sophisticated studio hardware and software.
The content Library of the company consists of more than 2,900 titles spanning new Hindi films and titles in various other regional languages like Marathi, Gujarati, Punjabi, Bengali among others as well as non-film content. It is one of the largest independent content aggregators in Bollywood.
The company distributes its content through various mediums such as (i) television - satellite, terrestrial and cable television; (ii) new media platforms consisting of mobile, internet, direct to home (DTH) and other applications; (iii) home entertainment; and (iv) other media.
The recent initiatives of the company include tying up as an official channel partner for Google Inc.’s You Tube where it is managing 32 channels. The company is also moving beyond providing just content, to providing content management solutions to partners.
Business activity
The company’s activities spans across content acquisition, value addition to content and content distributionApart from home video the company is providing content management solutions to partners such as -
• Airtel digital television in connection with an interactive devotional service, namely 'iDarshan'
• British Telecom’s (UK) IPTV service BT Vision for their South-Asian content pack and
• Tata DOCOMO’s video platform for 3G services.
Awards and achievements
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