inox leisure ltd....pan india presence 14 one of the largest multiplex chain operator in india *...

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INOX Metro, Mumbai

INOX LE ISURE LTD.R E S U LT S U P D A T E | Q 3 & 9 M F Y 2 0 1 9

Disclaimer

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This presentation and the following discussion may contain “forward lookingstatements” by Inox Leisure Limited (“ILL” or “the Company”) that are not historical innature. These forward looking statements, which may include statements relating tofuture state of affairs, results of operations, financial condition, business prospects, plansand objectives, are based on the current beliefs, assumptions, expectations, estimates,and projections of the management of ILL about the business, industry and markets inwhich ILL operates.

These statements are not guarantees of future performance, and are subject to knownand unknown risks, uncertainties, and other factors, some of which are beyond ILL’scontrol and difficult to predict, that could cause actual results, performance orachievements to differ materially from those in the forward looking statements.

Such statements are not, and should not be construed, as a representation as to futureperformance or achievements of ILL. In particular, such statements should not beregarded as a projection of future performance of ILL. It should be noted that the actualperformance or achievements of ILL may vary significantly from such statements.

Due to rounding-off, figures presented throughout this document may not add upprecisely to the totals provided and percentages may not precisely reflect the rounded-off figures.

All financial figures, upto and including FY15 are as per IGAAP and for FY16 andthereafter are as per IND-AS. Revenues for FY14 to FY15 are shown net of entertainmenttax, to be consistent with the revenues under IND-AS for FY16 and thereafter.

DISCUSSION SUMMARY

Financial Results

Property Openings and Pipeline

Content Pipeline

Shareholding Structure andBalance Sheet Items

Annexure

3

Highest Ever New Property Openings in the Industry: YTD 14 Properties with 68 Screens

Highest Ad Revenue Growth Rate in the Industry for 7 consecutive quarters

First National Chain in the Industry to be Net Debt Free

Industry's Highest “EBITDA to Capital Invested” Ratio for the Quarter: 6%*

*Net Of Minority Interest

SETTING NEW INDUSTRY RECORDS

STRONG ALL ROUND PERFORMANCE OF THE COMPANY

4

9MFY19

Highest Ever Revenue Rs. 1,213 crs

Highest Ever Advertising Revenue Rs. 134 crs

Highest Ever ATP Rs. 200

Highest Ever SPH Rs. 74

Highest Ever PAT Rs. 85 crs

Highest Ever EBITDA Rs. 212 crs

Long Term Rating Upgraded by Crisil to AA-/Stable

Q3 & 9M FY19 Results Highlights

5

Q3 FY19 YoY Comparison

325.9 433.1

-

50.0

100 .0

150 .0

200 .0

250 .0

300 .0

350 .0

400 .0

450 .0

500 .0

Q3FY18 Q3FY19

46.3 83.5

14.2%19.3%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

-

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

Q3FY18 Q3FY19

EBITDA EBITDA Margin

13.2 36.4

4.0%

8.4%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

Q3FY18 Q3FY19

PAT PAT Margin

Revenue from Operations EBITDA PAT

9MFY19 YoY Comparison

33% 80%

Revenue from Operations EBITDA PAT

Note: EBITDA excludes Other Income (non-operating)

18% 27%

1,024.5 1,213.3

-

200 .0

400 .0

600 .0

800 .0

1,00 0.0

1,20 0.0

1,40 0.0

9MFY18 9MFY19

166.6 211.8

16.3% 17.5%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

-

50.0

100 .0

150 .0

200 .0

250 .0

9MFY18 9MFY19

EBITDA EBITDA Margin

56.9 85.4

5.6%7.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

-

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

9MFY18 9MFY19

PAT PAT Margin

All figures in INR Crs., unless specified

177%

50%

6

Q3 & 9M FY19 Results Analysis – Revenue Break Up Analysis

187.9242.9

73.1

106.340.3

55.7

24.6

28.3

325.9

433.1

0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

450.0

500.0

Q3FY18 Q3FY19

612.7 691.2

228.4

312.5105.7

133.577.7

76.11024.5

1213.3

0.0

200.0

400.0

600.0

800.0

1000.0

1200.0

1400.0

9MFY18 9MFY19

%Share Q3FY18 Q3FY19 9MFY18 9MFY19

Net Box Office 57.6% 56.1% 59.8% 57.0%

Net Food & Beverage 22.4% 24.5% 22.3% 25.8%

Advertisement 12.4% 12.9% 10.3% 11.0%

Other Operating Revenues 7.6% 6.5% 7.6% 6.3%

14.8%

38.3%

45.3%

29.3%

-2.0%

26.3%

36.8%

12.8%

Q3 FY19 YoY Comparison 9MFY19 YoY Comparison


7

Q3FY19 Results Analysis – Top 5 Movies in INOX

GBOC – Gross Box Office Collection

Top 5 films accounted for 45% of Q3 FY19 GBOC revenues (52% in Q3 FY18)

Q3FY19 2.0 Badhaai Ho

Thugs of

Hindostan Simmba Andhadhun Total

Footfalls (Lacs) 22.18 16.11 9.04 7.41 9.49 64.22

GBOC (INR Crs.) 49.12 33.06 21.35 20.20 19.16 142.88

Q3FY18 Tiger Zinda Hai Golmaal Again Judwaa-2 Secret Superstar Fukrey Returns Total

Footfalls (Lacs) 16.98 18.64 9.53 6.76 8.08 59.99

GBOC (INR Crs.) 41.51 38.16 17.01 15.04 14.32 126.04

Q3 & 9M FY19 Results Analysis – Key Operational Metrics

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Overall Footfalls & Occupancy%

121.3 152.9

407.0 445.7

24%27% 27% 27%

3%

8%

13%

18%

23%

28%

-

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

450.0

500.0

Q3FY18 Q3FY19 9MFY18 9MFY19

Footfalls (Lacs) Occ%

Comparable Properties Footfalls & Occupancy%

97.4 107.5

297.1 300.8

25% 26%27% 27%

3%

8%

13%

18%

23%

28%

-

50.0

100.0

150.0

200.0

250.0

300.0

350.0


Footfalls (Lacs) Occ%

199 206 193 200

-

50

100

150

200

250

300


197 201 192 195

-

50

100

150

200

250

300


Overall Average Ticket Price (ATP) [INR] Comparable Properties Average Ticket Price (ATP) [INR]

Footfalls with Management properties: Q3FY19: 160 lacs, Q3FY18: 128 lacs & 9MFY19: 470 lacs, 9MFY18: 430 lacs

Note: All above charts exclude management properties

26.0%

3.6% 4.0%

10.4% 1.3%

1.8% 1.6%

9.5%

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Q3 & 9MFY19 Results Analysis – Key Operational Metrics

Spend Per Head (SPH) [INR] Food & Beverages – Contribution (%)

Advertisement Revenue [INR Crs.] Other Operating Revenue [INR Crs.]

70 74 66 74

-

10

20

30

40

50

60

70

80

90

100


75.8% 73.4% 76.0% 74.1%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%


40.3 55.7

105.7 133.5

(10.0)

10.0

30.0

50.0

70.0

90.0

110.0

130.0

150.0


24.6 28.3

77.7 76.1

-

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

100.0


12.2%

38.3% 26.3% 14.8%

-2.0%

5.6%

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Q3 & 9M FY19 Results Analysis – Key Operational Metrics

NBOC (Net Box Office Collections) , GBOC (Gross Box Office Collections)

5.5 6.0

11.6 12.8

10.0 10.5

11.8 12.4

38.9 41.7

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

50.0

Q3FY18 Q3FY19

4.9%

5.4%

10.2%

7.1%

Other Overheads Per Operating Screen (INR Lacs)

Film Distributor Share [%]

16.4 17.6

35.1 37.7

33.3 33.0

34.8 37.5

119.7 125.8

(10.0)

10.0

30.0

50.0

70.0

90.0

110.0

130.0

150.0

9MFY18 9MFY19

7.7%

-1.0%

7.4%

7.0%

GST/Entertainment Tax [%]

Other Overheads

CAM, Power & Fuel, R&M

Property Rent &Conducting Fees

Employee Benefits

27.4% 27.9% 26.9% 27.6%


On NBOC

21.5% 21.8% 21.2% 21.6%


On GBOC46.9% 44.6% 45.5% 44.5%


On NBOC

36.8% 34.9% 35.9% 34.9%


On GBOC

New Properties Opened in Q3FY19 and QTD

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Gwalior DB Mall (5th Nov 2018)6 Screens 1023 Seats

Kolkata Madhyamgram (21st Dec 2018)4 Screens 809 Seats

Bangalore RMZ (12th Oct 2018)5 Screens 1317 Seats

Mumbai Metro Cinema (6th Oct 2018)2 Screens 94 Seats

Jaipur GT Central (21st Jan 2019)7 Screens 731 Seats

Bhubhaneshwar D N Mall (25th Jan 2019)4 Screens 762 Seats

YTD Property Openings

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Property Opened till date in FY19 Opened Property Screens Seats

Mumbai Palm Beach Q1FY19 1 4 779

Cuttack SGBL Square Mall Q1FY19 1 4 830

Zirakpur Dhillon Mall Q1FY19 1 4 945

Q1FY19 Openings 3 12 2,554

Kakinada SRMT Q2FY19 1 5 915

Gurgaon Sapphire Q2FY19 1 3 567

Pune Heritage Mall (existing) Q2FY19 - 2 428

Coimbatore Prozone Q2FY19 1 9 2,057

Surat Reliance Mall Q2FY19 1 3 539

Gorakhpur City Mall Q2FY19 1 3 742

Delhi Epicuria Q2FY19 1 3 117

Q2FY19 Openings 6 28 5,365

Mumbai Metro (existing) Q3FY19 - 2 94

Bangalore RMZ Galleria Q3FY19 1 5 1,317

Gwalior DB Mall Q3FY19 1 6 1,023

Kolkata Madhyamgram Q3FY19 1 4 809

Q3FY19 QTD Openings 3 17 3,243

9MFY19 Openings 12 57 11,162

Jaipur GT Central Q4FY19 1 7 731

Bhubhaneshwar D N Mall Q4FY19 1 4 762

YTD FY19 Openings 14 68 12,655

Track Record of Aggressive Expansion

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Note: Includes Acquisition of 89 Cinemas in FY07, Fame in FY11 and Satyam in FY15

AVERAGE ADDITION OF 8 SCREENS EVERY QUARTER SINCE INCEPTION

8 12 25 35 5

8 76 9

1 11

9

23

9 25

7 27

9 31

0

37

2 42

0 46

8 49

2

55

7

2 3 6 916

2226

32

6368

7279

96

107

118123

136

-30

-10

10

30

50

70

90

110

130

-50

50

150

250

350

450

550

650

FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 Feb-19

Screens Properties

New Screen Pipeline

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STRONG VISIBILITY FROM NEW SCREENS PIPELINE BACKED BY SIGNED AGREEMENTS

**Adjustments:• 687 seats reduced due to renovation in Nashik, Banglore Garuda, Kolkata Southcity, Mumbai Malad and Jodhpur • Additionally, Discontinued Operations of Kota Om Cineplex (3 screens 1117 seats)

Properties Screens SeatsProperties Properties Screens Seats FY18 123 492 121,780

Mumbai Palm Beach (Opened 8th May'18) 1 4 779 Adjustments** (1) (3) (1,804)

Cuttack SGBL Square Mall (Opened 16th Jun'18) 1 4 830 FY19 Openings till date 14 68 12655

Zirakpur Dhillon Mall (Opened 29th Jun'18) 1 4 945 Expected - Feb19 to Mar19 2 13 1,215

Kakinada SRMT (Opened 9th Jul'18) 1 5 915 FY19 Expected 138 570 133,846

Gurgaon Sapphire (Opened 24th Jul'18) 1 3 567 Additions Post FY19 130 857 155,743

Pune Heritage Mall (Existing: 1st Aug'18) - 2 428 Leading to 268 1,427 289,589

Coimbatore Prozone (Opened 20th Aug'18) 1 9 2,057 Surat Reliance Mall (Opened 22nd Sep'18) 1 3 539

Gorakhpur City Mall (Opened 24th Sep'18) 1 3 742 Delhi Epicuria (Opened 29th Sep'18) 1 3 117 Mumbai Metro (Existing, Opened 6th Oct'18) - 2 94

Bangalore RMZ Galleria (Opened 12th Oct'18) 1 5 1,317

Gwalior DB Mall (Opened 5th Nov'18) 1 6 1,023

Kolkata Madhyamgram (Opened 21st Dec'18) 1 4 809

Jaipur GT Central (Opened 21st Jan'19) 1 7 731

Bhubhaneshwar D N Mall (Opened 25th Jan'19) 1 4 762

Gurgaon 1 4 120

Vadodara 1 5 927

Mumbai (Existing) - 4 168 Total 16 81 13,870

FY19 Pipeline

16

Content Pipeline – February 2019

The Lego Movie 2: The Second Part

Release Date: 8th February 2019Cast: Margot Robbie, Alison Brie, Chris PrattDirector: Mike MitchellBanner: Warner Bros.

Ek Ladki Ko Dekha TohAisa Laga

Release Date:1st February 2019Cast: Anil Kapoor, SonamKapoor Ahuja, RajkummarRao, Juhi ChawlaDirector: Shelly ChopraBanner: Fox Star Studios,Vidhu Vinod Chopra Productions,Rajkumar Hirani Films

Total Dhamaal

Release Date: 22nd February 2019Cast: Ajay Devgn, Riteish Deshmukh, Arshad WarsiDirector: Indra KumarBanner: Ajay DevgnFfilms, Fox Star Studios, Maruti International,Shri Adhikari Bros

Gully Boy

Release Date:14th February 2019Cast: Ranveer Singh, Alia Bhatt, KalkiKoechlinDirector: Zoya AkhtarBanner: Excel Entertainment, Tiger Baby

Alita: Battle Angel (IMAX)

Release Date:8th February 2019Cast: Mahershala Ali, Rosa SalazarDirector: Robert RodriguezBanner: Twentieth Century Fox, LightstormEntertainment, Troublemaker Studios

Hum Chaar

Release Date:15th February 2019Cast: Prit Kamani, Simran Sharma, Anshuman Malhotra, Tushar PandeyDirector: Abhishek DixitBanner: RajshriProductions Pvt Ltd

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Content Pipeline – March 2019

Captain Marvel

Release Date: 8th March 2019Cast: Brie Larson, Gemma Chan, Jude LawDirector: Anna Boden, Ryan FleckBanner: Marvel Studios

Luka Chuppi

Release Date:1st March 2019Cast: Kartik Aaryan, Kriti SanonDirector: LaxmanUtekarBanner: Maddock Films

Kesari

Release Date: 21st March 2019Cast: Akshay Kumar, Parineeti ChopraDirector: Anurag SinghBanner: Dharma Productions, Cape of Good Films, Azure Entertainment, Zee Studios

Sonchiriya

Release Date: 1st March 2019Cast: Sushant Singh Rajput, Bhumi Pednekar, Manoj BajpayeeDirector: Abhishek ChaubeyBanner: RSVP,Macguffin Pictures

Mental Hai Kya

Release Date: 29th March 2019Cast: Kangana Ranaut, Rajkummar RaoDirector: Prakash KovelamudiBanner: Balaji Motion Pictures, Karma Media

Badla

Release Date: 8th March 2019Cast: Taapsee Pannu, Amitabh BachchanDirector: Sujoy GhoshBanner: Red ChilliesEntertainment,Azure Entertainment

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Content Pipeline – April 2019

Shazam! (IMAX)

Release Date: 5th April 2019Cast: Zachary Levi, Mark StrongDirector: David F. SandbergBanner: Warner Bros., DC Entertainment

Junglee

Release Date:5th April 2019Cast: Vidyut JammwalDirector: Chuck RussellBanner: JungleePictures

Avengers: Endgame

Release Date: 26th April 2019Cast: Robert Downey Jr., Chris Hemsworth, Brie Larson, Chris EvansDirector: Anthony Russo, Joe RussoBanner: Marvel Studios

Kalank

Release Date:19th April 2019Cast: Madhuri Dixit, Sonakshi Sinha, Alia Bhatt, Varun DhawanDirector: Abhishek VarmanBanner: NadiadwalaGrandson Entertainment, Dharma Productions, Fox Star Studios

The Zoya Factor

Release Date: 5th April 2019Cast: Sonam Kapoor Ahuja, Dulquer SalmaanDirector: Abhishek SharmaBanner: Fox STAR Studios

Romeo Akbar Walter (RAW)

Release Date:12th April 2019Cast: John Abraham, Mouni Roy, Jackie Shroff Director: Robby GrewalBanner: KYTA Productions, VA Film Company, Red Ice Films, Viacom 18 Motion Pictures

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Content Pipeline – May 2019

Jabariya Jodi

Release Date:17th May 2019Cast: Parineeti Chopra, Sidharth MalhotraDirector: Prashant SinghBanner: BalajiTelefilms Ltd., Karma Media

Godzilla: King of the Monsters

Release Date: 31st May 2019Cast: Millie Bobby Brown, Sally Hawkins, Vera FarmigaDirector: Michael DoughertyBanner: Legendary Entertainment, Wanda Qingdao Studios, Warner Bros.

Ad Astra

Release Date:24th May 2019Cast: Brad Pitt, Tommy Lee JonesDirector: James GrayBanner: New Regency Pictures, Keep Your Head, MadRiverPictures

Student Of The Year 2

Release Date: 10th May 2019Cast: Tiger Shroff, Tara Sutaria, AnanyaPandeyDirector: PunitMalhotraBanner: Fox Star Studios, Dharma Productions

Aladdin

Release Date:24th May 2019Cast: Naomi Scott, Will Smith, Billy MagnussenDirector: Guy RitchieBanner: Walt Disney Pictures, Lin Pictures

De De Pyaar De

Release Date:17th May 2019Cast: Ajay Devgn, Tabu, Rakul PreetSinghDirector: Akiv AliBanner: Urban Romcom

Shareholding Structure

20

Source: BSE

Public/Others, 10.84%

INOX Benefit Trust, 4.23%

DII, 20.98%

FII, 12.06%

Promoter & Promoter

Group, 51.89%

% Shareholding as of December 2018

Source: Company Source: Company

Market Data As on 04-Feb-19

No. of Shares Outstanding (Crs.) 10.3

Face Value (INR) 10.0

Price (INR) 262.6

52 week High/Low (INR) 326.00/189.65

Market Capitalisation (INR Crs.) 2,701

Source: BSE180

205

230

255

280

305

Jan

-18

Feb

-18

Mar

-18

Ap

r-1

8

May

-18

Jun

-18

Jul-

18

Au

g-1

8

Sep

-18

Oct

-18

No

v-1

8

De

c-1

8

Jan

-19

Feb

-19

Share Price Performance

Key Institutional Investors – December 2018 % Holding

HDFC MF 6.2%

Reliance MF 4.6%

Aditya Birla Sunlife 3.4%

Sundaram MF 2.7%

DSP Blackrock MF 2.0%

Taiyo Greater India Fund Ltd 1.8%

Morgan Stanley 1.6%

Kuwait Investment Authority Fund 1.3%

AADI financial 1.2%

RAMS Equities Portfolio Fund 1.2%

DFA Investments Group 1.1%

COHESION Fund 1.0%

Pre & Post Issue Shareholding Pattern

21

• Promoter and Promoter Group has been issued 64,00,000 equity shares on preferential basis at a price of Rs 250 per share.

• Generated Rs.160crs to the company, which was utilized to repay debt. • Debt repayment would lead to reduction of Interest burden, thereby

increasing PAT• INOX has strengthen its Balance Sheet for future expansions

Promoter Group stake in the Company increases from 48.7% to 51.9%

No. of Shares

Preferential

Allotment % ChangePromoter and Promoter Group 46,973,928 48.70% 6,400,000 53,373,928 51.89% 3.19%

Public /others 11,317,804 11.73% - 11,149,920 10.84% -0.89%

Inox Benefit Trust 4,350,092 4.51% - 4,350,092 4.23% -0.28%

DII 19,851,515 20.58% - 21,577,848 20.98% 0.40%

FII 13,964,415 14.48% - 12,405,966 12.06% -2.42%

Total 96,457,754 100.00% 6,400,000 102,857,754 100.00%

Pre-issue - No. of Shares Post-issue - No. of Shares

(31st Dec 2018)

290

129

Sep-18 Dec-18

Gross Debt (INR Crs.)

22

Annexure

INOX GT Central, Jaipur

Annexure: Consolidated P&L Statement

23

Particulars (INR Crs.) Q3FY19 Q3FY18 YoY % Q2FY19 QoQ % 9MFY19 9MFY18 YoY % FY18

Revenue from Operations 433.1 325.9 32.9% 365.3 18.6% 1,213.3 1,024.5 18.4% 1,348.1

Exhibi tion Cost 112.2 90.5 24.0% 95.1 17.9% 317.0 286.0 10.8% 367.3

Food & Beverages Cost 28.3 17.7 60.2% 25.3 11.8% 80.8 54.9 47.3% 74.4

Employee Benefi ts Expense 30.2 24.7 22.2% 27.9 8.2% 84.3 70.9 18.9% 96.4

Lease Rental & Hire Charges 64.2 51.1 25.7% 59.2 8.5% 181.0 151.7 19.3% 203.8

CAM, Power & Fuel , R&M 52.7 43.8 20.3% 52.4 0.5% 158.4 143.9 10.0% 188.2

Other Expenses 62.1 51.8 19.7% 60.6 2.4% 180.1 150.5 19.7% 207.7

EBITDA 83.5 46.3 80.4% 44.8 86.4% 211.8 166.6 27.2% 210.4

EBITDA Margin % 19.3% 14.2% 508 bps 12.3% 702 bps 17.5% 16.3% 120 bps 15.6%

Depreciation & Amortisation 24.5 21.7 12.8% 23.4 4.8% 70.6 64.8 9.1% 86.7

Impairment Loss on PP&E - - - - 1.3 -100.0% 3.1

Other Income 3.1 3.0 3.2% 3.7 -17.3% 9.7 8.2 17.7% 14.5

Finance Cost 6.2 7.3 -14.7% 6.8 -8.3% 19.9 21.8 -8.7% 28.9

Exceptional Items - - - - - 8.5

Share of Profi t from Joint Ventures - (0.0) -100.0% - - (0.0) -100.0% (0.0)

PBT 55.9 20.3 175.8% 18.4 204.0% 130.9 87.0 50.6% 97.6

Current Tax 16.50 7.0 134.4% 3.5 368.3% 38.6 31.6 22.2% 32.5

Deferred Tax 2.92 0.0 6463.8% 2.9 1.4% 6.9 (1.6) -542.9% 4.2

Tax perta ining to earl ier years - - - - - (53.7)

PAT 36.4 13.2 177% 12.0 204% 85.4 56.9 50% 114.6

PAT Margin % 8.4% 4.0% 437 bps 3.3% 514 bps 7.0% 5.6% 148 bps 8.5%

Earnings Per Share (EPS) 3.90 1.43 172% 1.30 200% 9.23 6.20 49% 12.49


Annexure: Consolidated Balance Sheet Statement

24

Equity & Liabilities (INR Crs.) Sep-18 Mar-18

Equity:

Equity Share Capital 96.2 96.2

Other Equity 655.9 606.1

Interest in Inox Benefit Trust, at cost (32.7) (32.7)

Equity attributable to owners of the company 719.4 669.6

Non-Controlling Interest 0.0 0.01

Total Equity 719.4 669.6

Non-current liabilities:

Borrowings 234.7 252.4

Other Financial Liabilities 2.3 3.1

Provisions 11.4 10.1

Other Non-current Liabilities 72.7 75.7

Total of Non-Current Liabilities 321.1 341.3

Current Liabilities:

Borrowings 19.6 -

Trade Payables 132.8 113.2

Other Financial Liabilities 115.5 105.7

Other Current Liabilities 54.0 38.2

Provisions 13.3 14.8

Income Tax Liabilities (Net) 1.7 2.1

Total of Current Liabilities 336.8 274.1

Total Equity & Liabilities 1,377.3 1,285.0

Assets (INR Crs.) Sep-18 Mar-18

Non-Current Assets:

Property, Plant & Equipment 788.1 742.7

Capital work-in-progress 76.9 53.9

Goodwill 17.5 17.5

Other Intangible Assets 10.3 11.5

Investments in Joint Ventures - -

Other Investments 0.7 1.2

Loans 90.2 74.2

Other Financial Assets 77.1 67.5

Deferred Tax Assets (Net) 68.8 81.1

Tax Assets (Net) 8.8 9.1

Other Non Current Assets 92.9 82.7

Total Non Current Assets 1,231 1,142

Current Assets:

Inventories 11.4 9.4

Other Investments 0.5 12.4

Trade Receivables 84.8 76.1

Cash and Bank Balances 11.5 13.3

Bank Balances Other than above 2.3 1.7

Loans 5.4 5.9

Other Financial Assets 0.1 0.2

Other Current Assets 30.0 24.4

Total Current Assets 146.0 143.4

Total Assets 1,377.3 1,285.0

Annexure: Brief Profile

25

• Inox Leisure Limited (ILL), incorporated in 1999, is one of the largest multiplex operator in India• ILL is a part of Inox Group which is diversified across industrial gases, engineering plastics, refrigerants, chemicals, cryogenic engineering,

renewable energy and entertainment sectors• ILL currently operates 136 properties (557 screens and 132631 seats) located in 67 cities across India, being the only multiplex operator having

such a diverse presence across PAN India• The company accounts for 19% share of the multiplex screens in India and ~11% share of domestic box office collections• The company has aggressively scaled up through organic and inorganic expansion over last decade growing from 2 properties – 8 screens in

FY03 to 136 properties – 557 screens at present, on an average adding 8 screens every quarter since inception.

Business Overview

• One of the largest multiplex chains in India• Most diversified distribution of multiplexes in India• Premium multiplex properties, state of the art technology and unmatched service and ambience• Strong partnerships with more than 50 leading Indian and Global brands, offering high growth potential for advertising and

other ancillary revenues• Strong management team and recognized and trusted corporate group

Key Strengths

• Consolidated Revenues, EBITDA and PAT were Rs 1,348.1 cr, Rs 210.4 cr and Rs 114.6 cr in FY18• Strong balance sheet with Gross Debt of Rs 291.9 cr, Net Debt of Rs 265 cr and Equity of Rs 669.6 cr in FY18 with net D/E ratio of 0.40x

Strong Financials

Annexure : Recognised & Trusted Corporate Group

26

L i s t e d C o m p a n i e s O t h e r K e y C o m p a n i e s

INOX LeisureLimited

Largest producer of (by volume)

Chloromethanes, refrigerants

and Polytetrafluoroethylene in

India.

Pioneer of carbon credits in

India

INOX Air Products Private Limited

50:50 joint venture with Air

Products Inc., USA

Largest producer of industrial

gases in India

40 plants spread throughout

the country

One of the largest multiplex

chains in India

In the business of setting up,

operating and managing a

national chain of multiplexes

under the brand name ‘INOX’

Present in 67 cities with 136

multiplexes and 557 screens

Gujarat FluorochemicalsLimited

Largest producer of cryogenic

liquid storage and transport

tanks in India

Offers comprehensive

solutions in cryogenic storage,

vaporization and distribution

engineering

Has operations in India, USA,

Netherlands and Brazil

INOX India PrivateLimited

Fully integrated player in the

wind energy market

State-of-the-art manufacturing

plants near Ahmedabad

(Gujarat), Una (Himachal

Pradesh) and Barwani (Madhya

Pradesh). Our Madhya Pradesh

facility is one of the largest in

Asia

Ability to provide end-to-end

turnkey solutions for wind farms

INOX Wind Limited

• 90 Year track record of consistent business growth• USD $3 Billion Inox Group diversified across 7 different businesses

• 10,000+ employees at 150+ business units across India• Distribution network spread over 50+ countries

East; 10; 15%

West; 23; 34%North; 20; 30%

South; 14; 21%

Annexure: PAN India Presence

27

East, 22, 16%

West; 55; 41%

North, 33, 24%

South, 26, 19%

East, 84, 15%

West; 236; 43%

North; 119; 21%

South, 118, 21%East; 21,108 ; 16%

West; 56,317 ; 42%North; 27,980 ; 21%

South; 27,226 ; 21%

Well DiversifiedDistribution of

Multiplexesacross India

Access toWide Variety of

Regional Content

Lower Dependencyon Hindi and English

Content

Includes 8 management properties with 29 screens and 7,370 seats

136 Properties 67 Cities

557 Screens 132,631 Seats

Annexure: Strong Brand Partnerships

BFSI FMCG CONSUMER DURABLES AUTOMOBILES GECECOMMERCE &TELECOMM. OTHERS

Financial Summary

29

762.8 895.4

1,160.6 1,220.7 1,348.1

FY14 FY15 FY16 FY17 FY18

122.0 122.7

189.1 146.1

210.4

16.0% 13.7% 16.3% 12.0% 15.6%


EBITDA EBITDA Margin %

36.9 20.0

81.0

30.6

114.6 4.8%

2.2%7.0%

2.5%

8.5%

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0 %

5.0 %

10. 0%

-

20.0

40.0

60.0

80.0

100 .0

120 .0

140 .0


PAT PAT Margin %

242.2 241.2 267.0 317.0 291.9

390.9 676.2 522.3 552.5 669.6

0.6 0.3 0.4 0.5 0.4


Equity Debt Net Debt to Equity

64.3% 61.6% 61.4% 61.3% 59.5%

21.3% 21.3% 22.9% 23.3% 22.7%

6.5% 9.1% 7.8% 7.9% 10.3%

7.9% 8.0% 7.8% 7.6% 7.5%


NBOC F & B Advertising Others

ROE: PAT/Avg. Equity, ROCE: EBIT/Avg. Capital Employed [(Capital Employed = Equity + Total Debt)Net Debt = Total Debt – Cash –Bank – Liquid MF Investments

REVENUES EBITDA PAT

REVENUES - SEGMENT BREAKUP LEVERAGE ANALYSIS RETURN METRICS


11.5%

6.1%

14.9%

7.3%

13.2%

10.3%

3.8%

16.8%

5.7%

18.8%

0.0 %

2.0 %

4.0 %

6.0 %

8.0 %

10. 0%

12. 0%

14. 0%

16. 0%

18. 0%

20. 0%


ROCE % ROE %

# Includes Tax write back pertaining to earlier years of ~Rs.54crs

#

30

Thank YouBalesh Talapady GM – Business AnalysisINOX Leisure Ltd.Contact+91-22-4062 6927Email: [email protected]

INOX DB Mall, Gwalior

inox leisure ltd....pan india presence 14 one of the largest multiplex chain operator in india *...

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