Mumbai, 10th August 2022 – Cineline India Limited, has made a comeback in the movie exhibition business under a new brand, MovieMax, announced its Unaudited Financial Results for the Quarter ended 30th June 2022
- REVENUES – Rs. 1,676 Lakhs
- EBITDA – Rs. 356 Lakhs
- ADMITS – 7.3 Lakhs
FINANCIAL HIGHLIGHTS for Q1 FY23
- Net Box Office Collections for Q1FY23 are Rs. 1,173 Lakhs
- Net F & B Collections for Q1FY23 are Rs. 401 Lakhs
- EBITDA Margins for Cinema Business stood at 21.2%
- EBITDA impacted on account of increased manpower and marketing costs for future growth of the business
- During June’22, big ticket Hindi movies did not perform well which impacted the footfalls, revenues and profitability
- ATP stood at Rs. 190; SPH stood at Rs. 58; Total is Rs. 248
OUR CURRENT FOOTPRINT* (Includes Operational + Tied up Screens)
- No. of Cinemas – 26
- No. of Screens – 101
- No. of Seats – 22,600+
- Cities Present – 17 .. with many more in pipeline
Operational Screens – 11 Properties, 31 Screens
Screens under Fit Outs – 8 Properties, 40 Screens
Tied Up Screens – 7 Properties, 30 Screens
- Company commenced operations in all 23 screens within 15 days of takeover of screens
- Monetized non-core assets;
- Eternity Mall, Nagpur for Rs. 60 Crs.
- 2 Commercial Spaces in Mumbai for ~Rs. 21 Crs.
- Pre-payment of Debt of Rs. 57 Crs.
- Company has issued convertible warrants of Rs. 35 Crs. to promoters on preferential basis and received Rs. 20.25 Crs. on allotment (Capital raised by Promoters)
- Raised Interest free Advances from ticket aggregator
- W.e.f. 5th August 2022, the on-screen advertisement space has been outsourced for a fixed fee
Commenting on the same, Mr. Rasesh Kanakia, Chairman, said – “Q1 FY23 was the first quarter of our Cinema Operations. We were pleased to see a strong traction of footfall at MovieMax in April and May. While going live online and creating brand awareness for MovieMax started in April, we did very good business.
In Q1 FY23, we clocked Revenues of Rs. 1,676 Lakhs and EBITDA of 356 Lakhs. Our EBITDA Margins stood at 21.2%. EBITDA impacted on account of increased manpower and marketing costs for future growth of the business.
We are seeing huge opportunities in the film exhibition space, and we will aggressively grow our business. We are focusing on Tier II & III cities because of lack of entertainment avenues, especially multiplexes. We want to increase our penetration and acquire more screens, PAN India. We will look to convert single screens into multiplexes.”
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.