Corporate presentation
November 2016
Eros the leading Indian film studio
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Executive Summary
190+ new releases in the last 3 fiscal years
Owns a large content library of Indian language films, 2000+, and music
Multi-channel distribution in 50+ countries in 25+ languages
Robust India macro landscape with highly attractive fundamentals
Strong revenue growth and solid track of profitability
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Eros: A global leader in Indian film entertainment with strong box-office market share
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Content is King
New film mix60-70 films
each year
•Hindi
•Regional languageCo-production
2,000+ film library (1 year after Theatrical Release)
Acquisition Trinity
Pictures
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Eros: A Multi-Platform Model
• Leading player in a growing and underpenetrated cinema market
Eros had 3 out of top 4 and 7 out of the top 15 India Box Office hits in CY 2015
Film pre-sales facilitated by long-standing Eros brand, reputation and industry relationships
Theatrical
• Cable digitisation and rising Pay TV penetration drive market growth and demand for premium content
Eros’ film library of over 2,000+ films is a stable source of revenue growth with high margins
Television rights are often sold before box-office releases
Other streams include Music, Cable and broadband syndication, in-flight sales, DVD sales, etc.
Television & Others
• Sale of international distribution rights to the parent company benefits de-risking and cash flows
Pre-determined recovery of Eros International’s total film cost
Parent Company enjoys wide international distribution network across 50 countries
Overseas
TV Syndication Freemium
$
Pay Per View Subscription Advertising Bundled ServicesTheatrical
Eros International is strategically positioned to monetise film content through
multiple channels globally
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Leading Box Office Market Share
US & UK Market Share CY 2011-20151
Blockbuster film slate – Eros films account for 7 out of top 15 films in 2015
No.1 No.15No.12No.11No.9No.4No.3
• Last 5 years average
market share of 35% in
UK and 34% in US, of all
theatrically released
Indian language films
• Note Eros’ leading
position but also
fragmentation of rest of
the market
(1) Represents average market share of all theatrically released Indian language films from 2011 - 2015. Source: Rentrak.
Eros35%
UTV19%
YRF11%
Reliance8%
Fox6%
Others20%
UK
Eros34%
UTV21%
YRF11%
Reliance10%
Fox4%
Others20%
USA
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Eros Films Dominate CY2015 Awards
Eros films win over 150 awards across IIFA, Screen, Filmfare, Sony Guild, Zee Cine, ETC Bollywood Business & Stardust Awards
34 Awards 20 Awards 5 Awards 4 Awards 4 Awards
An array of awards
won by Eros
Best Film
Best Director
Best Actor
Best Story
Best Screenplay
Best Cinematography
Best Art Direction
Best Sound Design
Best Costume Design
Best Dialogue
Best Choreography
Best Actor in a Supporting
Role (Male)
Best Actor in a Supporting
Role (Female)
Best Child Artist
An array of awards
won by Eros
Best special effects
Best Background Score
Best Playback Singer
Best Debut (Male)
Best Debut Couple
Best Production Design
Best Action
Best actor in a Comic Role
Best Actor in a Negative
Role
Best Film- Bengali
Category
Best VFX
Top Grosser of the Year
300 Crore Club
100 Crore Club
Studio of the
Year
Excellence In
International
Distribution
Award
Award for Film
Distribution in
Mumbai, Delhi-UP,
East Punjab, West
Bengal and
Mysore
Eros International
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Eros Theatrical Production
Film by budget type(1)
FY ‘11 FY ‘12 FY ‘13 FY ‘14 FY ‘15 FY ‘16
High 3 5 6 4 6 6
Medium 10 5 13 21 11 16
Low 64 67 58 44 47 41
Total films(2)
77 77 77 69 64 63
(1) “High budget” films refer to Hindi films with direct production costs in excess of $8.5 million and Tamil as well as Telugu films with direct production costs in excess of $7.0 million; “Low budget” films refer to
both Hindi, Tamil, and Telugu films with less than $1.0 million in direct production costs; “Medium budget” films refer to Hindi, Tamil, and Telugu films within the remaining range of direct production costs
(2) Total films also includes regional films and films with overseas rights
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Forthcoming Releases
(1) Calendar subject to change
Film Name Language Star Cast/(Director/Producer) Tentative Release(1)
Rock On 2 Hindi Farhan Akhtar, Arjun Rampal / (Excel / Shujaat Saudagar) Q3 FY17
Kahani 2 (Overseas) Hindi Vidya Balan, Arjun Rampal / (Sujoy Ghosh) Q3 FY17
Chaar Sahibzaade 2 Punjabi 3D Animation / (Harry Baweja) Q3 FY17
Amar Prem Bengali Rudra, Shivangi / (Haranath Chakraborty) Q3 FY17
Double Faluda Bengali Feluda, Topse / (Sandip Ray) Q3 FY17
Enkitta Mothathe TamilNatraj Subramanian, Parvathy Nair, Sanchitta,Radha Ravi, Rajaji / (Ramu
Chellapa)Q3 FY17
Saarkar Raj 3 Hindi Amitabh Bachchan, Ronit Roy & Others / (Ram Gopal Verma) Q4 FY17
Ticket to Bollywood Hindi Amyra Dastoor, Diganth Manchale / (Eros) Q4 FY17
7 Kadam Hindi Amit Saadh, Diksha Seth, Ronit Roy & Others / (Mohit Kumar Jha) Q4 FY17
Oru Kidayin Karunai Manu Tamil Vidharth, Raveena / (Suresh Sangiah) Q4 FY17
Bibaho Diaries Bengali Ritwick Chakraborty, Sohini Sarkar / (Moinak Bhowmik) Q4 FY17
Care of Saira Banu Malayalam Manju Warrier, Amala Akineni, Shanenigam / (Antony Sony) Q4 FY17
Untitled Hindi Shahrukh Khan / (Anand L Rai -Color Yellow Productions) FY 18
Munna Michael Hindi Tiger Shroff, Nawazuddin Siddiqui / (Sabbir Khan) FY 18
Chanda Mama Door Ke Hindi Sushant Singh / (Sanjay Puran Singh) FY 18
Untitled Hindi Sushant Singh/ Homi Adjania (Maddock Films) FY 18
Sniff Hindi Amole Gupte / (Trinity Pictures) FY 18
Azaad Hindi Sabbir Khan / (Trinity Pictures) FY 18
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Forthcoming Releases (Contd.)
(1) Calendar subject to change
Film Name Language Star Cast/(Director/Producer) Tentative Release(1)
Buddy Cop Bilingual Krish / (Trinity Pictures) FY 18
Hathi Mera Sathi Hindi Prabhu Soloman / (Trinity Pictures) FY 18
Love in Beijing Indo-China Siddharth Anand / (Trinity Pictures) FY 18
The Zoo Keeper Indo-China Kabir Khan / (Trinity Pictures) FY 18
Untitled Hindi Vicky Kaushal, Shewta Tripathi / (Colour Yellow Productions) FY 18
Happy Bhaag Jayegi 2 Hindi Mudassar Aziz / (Colour Yellow Productions) FY 18
Vicky Donor 2 Hindi TBA FY 18
Manmarziyan Hindi Ayushmann Khuranna & Bhumi Pednekar / (Colour Yellow) FY 18
Reunion Hindi Sujoy Ghosh FY 18
Bhavesh Joshi Hindi Harshwardhan Kapoor, / (Vikramaditya Motwane) FY 18
Farzi Hindi Raj & DK FY 18
Badlapur 2 Hindi Sriram Raghavan FY 18
Nayak 2 Hindi TBA / (Deepak Mukut, Soham Rockstar Entertainment) FY 18
Untitled Hindi Rahul Dholakia FY 18
Nimmo Hindi Rahul Sanklya FY 18
Cobra Hindi Gurmeet Chaudhary, Sonarika, Anoop Sing / (Rajeev Jhaveri) FY 18
Jugadu Hindi Harman Baweja & Others FY 18
Guru Tegh Bahadur Punjabi 3D Animation / (Harry Baweja) FY 18
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Forthcoming Releases (Contd.)
(1) Calendar subject to change
Film Name Language Star Cast/(Director/Producer) Tentative Release(1)
Jaita Punjabi Harry Baweja FY 18
Yaanai Tamil Prabhu Solomon / (Trinity Pictures) FY 18
Untitled Tamil Vetrimaaran / (Colour Production) FY 18
Nervazhl Tamil Nayantara / (Bharath Krihnamachari) FY 18
Kadaisi Vivasayi Tamil TBA / Manikandan FY 18
Untitled Marathi Ravi Jadhav FY 18
Naale Malayalam Fahad Fazil, Malavika Mohan, Mukesh, KPAC, Lalitha / (Siju S Bava) FY 18
Posto Bengali Soumitra Chatterjee, Lily Chakraborty, Jisshu Sengupta (Windows) FY 18
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Trinity ‐ India’s first franchise film Studio, progressing in good momentum
4 films enter/ready to enter production; another 12 franchise concepts developed
• Trinity’s first franchise film Sniff – I Spy slated for an early FY18 release
and the first teaser to be out soon. Additionally, Sniff comics and mobile
games to hit the markets post film release
• Three other franchise films of Trinity – Azaad, Buddy Cop (bilingual film)
and Hathi Mera Saathi (working titles) are in advanced stages of
pre‐production & casting
• Both the Indo‐China co‐productions have entered into the pre‐production
and casting stage. One of the films to go on floors by April 2017
• Trinity Writers room has developed another 12 franchise concepts
across genres, which will now be taken to scripting stage
Our markets
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(1) Source: FICCI-KPMG Report 2016.
(2) “Other” includes radio, music, out of home, animation & VFX, gaming and digital advertising segments
Indian Media & Entertainment Market
’15 – ’20 CAGR
22.0%
10.5%
7.8%
15.1%
542.2 617.0709.6
823.3956.8
1,097.6
283.4305.2
329.6
355.9
383.6
412.5
138.2
158.7
174.1
190.0
207.8
227.3
193.2
234.1
288.7
354.8
431.8
522.6
2015 2016P 2017P 2018P 2019P 2020P
TV Print Film Other
1,157
1,315
1,502
1,724
1,980
2,260
Media & Entertainment Market Projected to Grow at 14%(1)
(2)
Rs. billion
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A rapidly growing economy(1)
39.1 36.8
31.3 27.3
Russia China Brazil India
Median age
India: High Growth and Attractive Fundamentals
(1) IMF World Economic Outlook as of April 2016, Real GDP corresponding to fiscal year, constant price
(2) CIA World Factbook (5/16/2016)
(3) Euromonitor International – 1 USD – Rs. 66.05
1.0
1.2
1.6
2000 2011 2050
(in billions)
With significant population expansion (1)
Highly favorable demographics(2) Increasing annual disposable income(3)
7.6%
6.1%
2.2% 2.1%
0.5%
India China US UK Brazil
Projected GDP growth CAGR (2015 – 2021E)
102,972 107,001115,786
124,636133,883
2012 2013 2014 2015 2016
(Rs. in billions)
Over the next 15 years India is expected to be the largest contributor of global GDP growth
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Rapid Growth for India’s Film Industry
138159
174190
208227
2015 2016P 2017P 2018P 2019P 2020P
Indian Film Industry seeing consistent revenue growth…(1) …with multiplex rollout fueling growth (2)
…in a highly underpenetrated market…(1) …and substantial room to increase pricing(3)
(1) FICCI-KPMG Report 2016, UK, France and Germany data FICCI-KPMG Report 2015
(2) CRISIL Research
(3) Magna Global, June 2014
Indian Film Revenue
44
292373
435491
603
976
India China Brazil Russia US UK Japan
Average Admissions Price(Rs.)
(Rs. billion) Number of Multiplexes in India(in thousands)
1.21.4 1.5 1.6
1.8 1.92.1 2.2
2011 2012 2013 2014P 2015P 2016P 2017P 2018P
6
57 61
85
126
23
India Germany UK France US China
Theatre screens per million population
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Growing Indian Television Market
1) Source: FICCI-KPMG Report 2016
...is Supported by Favorable Viewing Preferences(1)
…is Expected to Fuel Growth in the Indian TV Industry (1)
45%
22%
12%7%
42%36%
11%7%
Hindi GEC +Movies
Regional GEC +Movies
Kids + Music News
2014 2015
Percentage of viewing time spent
70+%
145
174
2015A 2020P
Total # of
TV
Households:200m175m
Increasing television household penetration…(1)
Willingness to pay for content…(1)
83%87%
2015A 2020P
Paid C&S TV Household Penetration (%)
181365
361
733
2015A 2020P
Advertising Revenue Subscription Revenue
542
1,098
(Rs in billion)
Indian Pay-TV subscriber base(in millions)
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(1) FICCI KPMG Report 2015 & 2016, TRAI and broker research
Compelling Digital Opportunity
India’s digital ad market at Rs. 255 billion in 2020(1)
Strong internet user growth(1)Internet penetration is still in early stages(1)
60.1
255.2
2015A 2020P
Digital advertising spend(Rs in billion)
Affordable smartphones driving internet growth(1)
Online ad spend as
% of total ad spend 26%7%
In October 2015 India reached 1 BILLION mobile phone subscribers
310.7
791.820.8
33.4
2015A 2020P
Wireless Wireline
(in millions)
331.5
825.2
180
690
2015A 2020P
Smartphones in India(in millions)
90% 87%
53%46%
27%
UK USA Brazil China India
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Language No. of films
released in
2014
Hindi 141
Tamil 203
Telugu 113
Kannada 118
Malayalam 151
Marathi 56
Bengali 68
Punjabi 41
Others 101
The Big Regional Opportunity
Over 1,000 films are released in
India each year across languages
Top Grossing
Film
Worldwide Box
Office INR &
USD
PK 735 cr ($115m)
Enthiran 283 cr ($44.2m)
Bahubali 600 cr ($94m)
Aptharakshasa 55 cr ($8.6m)
Drishyam 75 cr ($11.7m)
Sairat 110 cr ($16.7m)
Chander Pahar 15 cr ($2.3m)
Chaar Sahebzaade 70 cr ($11m)
The box office numbers suggest these are
not niche films. Contributions are significant
Typical
Production
Budgets
Typical
Print &
Advertising
$ 12 -15m $3.0m
$ 10 -12m $0.7m
$ 8 – 10m $0.5m
$ 4 – 5m $0.2m
$ 1.5 – 2.5m $0.2m
$ 1 – 2m $0.2m
$ 0.5 – 1m $0.1m
$ 1.5 – 2.5m $0.2m
Varying Budgets. Low P&A. High
Margins and Presales
In the context of shortage of theatres, the Regional strategy adds scale, market share and margins without cannibalization
A digital opportunity
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ErosNow is parent Eros International Plc’s on-demand entertainment portal
ErosNow: over 55m RegisteredUsers
Digital premieres, including recent super-hits Bajrangi Bhaijaan, Tanu Weds Manu Returns,
Prem Ratan Dhan Payo and Bajirao Mastani
ErosNow’s original content offering has begun with 'Salute Siachen', India's first ever celebrity
high endurance expedition to the Siachen Glacier
In addition, ErosNow originals such as Lost by Siddharth Anand, Smoke and Side Hero will be
launched in the forthcoming quarters
Unlike other OTT (“over-the-top content”) players, Eros owns much of the content on ErosNow
Available on all internet-enabled devices and fully integrated with the top social media outlets
globally
Eros India will participate in the long term value creation in the digital business
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Boosting platform distribution with Telcos & OEMs
ErosNow strategic
business alliance with LeEco,
China’s leading Internet and
Technology Group
Reliance Jio
Integrated on LeEco phones for the Indian
market with a one year ErosNow subscription
Bharti Airtel
Largest market share
of mobile subscribers
in India
Micromax
Second largest
handset manufacturer
in India
Idea Cellular
Third largest market
share of mobile
subscribers in India
Malaysian Telcos
Only Indian OTT
platform to penetrate
the growing Malaysian
market
ErosNow is parent Eros International Plc’s on-demand entertainment portal
LeEco
ErosNow’s compelling content of thousands of
movies from all decades on the Jio On Demand
entertainment offering
The most-anticipated 4G
digital platform in India
Financial Overview
4
PAGE 23
Strong Revenue Growth & Diversified Revenue Streams
7,159
9,632
10,74411,396
14,410
16,036
FY11 FY12 FY13 FY14 FY15 FY16
Strong Historical Revenue Growth
(1) High Budget for Hindi films>USD8.5mn, Tamil/Telugu/Regional>USD7mn, Low Budget for all languages <USD1mn and Medium Budget is the intermediate range, 1USD=Rs.61
Film by Budget
Type(1)FY11 FY12 FY13 FY14 FY15 FY16
High 3 5 6 4 6 6
Medium 10 5 13 21 11 16
Low 64 67 58 44 47 41
Total Films(2) 77 77 77 69 64 63
(Rs. in million)
Theatrical43.9%
Overseas26.1%
Television & Others
30.0%
Diversified Revenue Streams – FY16
10%12%
15%
22%
15%
FY12 FY13 FY14 FY15 FY16
Diversified Revenue Streams
*Company held back catalogue sales for
a limited period in FY16 to enhance
balance sheet efficiencies
Catalogue Contribution
PAGE 24
Solid Track Record of Profitability
.
EBIT PAT
1,613
2,257 2,262
2,997
3,615
3,375
FY11 FY12 FY13 FY14 FY15 FY16
(Rs. in million) (Rs. in million)
1,172
1,4781,545
1,997
2,471
2,141
FY11 FY12 FY13 FY14 FY15 FY16
16.5% 15.5% 14.5% 17.5% 17.1% 13.4%% Margin 22.5% 23.4% 21.1% 26.3% 25.1% 21.0%
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Figures in INR million H1 FY 2017 H1 FY2016
Revenue 8,991 mn 9,906 mn
EBIT 1,782 mn 2,345 mn
PAT (after minority) 1,219 mn 1,468 mn
PAT Margin 13.6% 14.8%
Diluted EPS (Rs.) 12.78 15.60
Robust Half-yearly Performance
• Portfolio of successful films released include Dishoom, Janatha Garage, Baar Baar Dekho, Happy Bhaag Jayegi, Banjo
Housefull 3, Ki and Ka, Nil Battey Sannata, Sardaar Gabbar Singh (Telugu), 24 (Tamil) amongst others
• Pre-sales of the film slate remains strong with 110% of the cost of the film slate covered before release in H1 FY 2017
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Figures in INR million As on Sept 30, 2016 As on March 31, 2016
Debt 4,324 mn 4,171 mn
Cash 1,951 mn 3,099 mn
Net Debt 2,373 mn 1,072 mn
Net Debt / Equity Ratio 0.12 0.06
Conservative Balance Sheet
PAGE 27
Certain statements in this presentation concerning the future growth prospects are forward looking statements, which involve a number of risks and
uncertainties that could cause actual results to differ materially from those in such forward-looking statements. In some cases, these forward-
looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “forecasts”, “plans”,
“prepares”, “projects” “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all
matters that are not historical facts. They appear in a number of places throughout this presentation and include, but are not limited to, statements
regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial
condition, liquidity, prospects, growth, strategies, business development, the markets in which the Company operates, expected changes in the
Company’s margins, certain cost or expense items as a percentage of the Company’s revenues, the Company’s relationships with theater
operators and industry participants, the Company’s ability to source film content, the completion or release of the Company’s films and the
popularity thereof, the Company’s ability to maintain and acquire rights to film content, the Company’s dependence on the Indian box office
success of its films, the Company’s ability to recoup box office revenues, the Company’s ability to compete in the Indian film industry, the
Company’s ability to protect its intellectual property rights and its ability to respond to technological changes, the Company’s contingent liabilities,
general economic and political conditions in India, including fiscal policy and regulatory changes in the Indian film industry. By their nature, forward-
looking statements involve known and unknown risk and uncertainty because they relate to future events and circumstances. Forward-looking
statements speak only as of the date they are made and are not guarantees of future performance and the actual results of the Company’s
operations, financial condition and liquidity, and the development of the markets and the industry in which the Company operates may differ
materially from those described in, or suggested by, the forward-looking statements contained in these materials. The forward-looking statements
in this presentation are made only as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking
statement, whether as a result of current or future events or otherwise, except as required by law or applicable rules.
Important notice and disclaimer