Balaji Telefilms Ltd

About

Balaji Telefilms is engaged in a leader in television content in India particularly for Hindi language content and has also successfully ventured in the regional television content market and event business. The company is also in the business of production of films.(Source : 201903 Annual Report Page No: 115)

  • Market Cap 570 Cr.
  • Current Price 56.5
  • High / Low 76.8 / 50.2
  • Stock P/E
  • Book Value 49.4
  • Dividend Yield 0.35 %
  • ROCE -18.3 %
  • ROE -20.4 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.14 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 0.06% over past five years.
  • Promoter holding is low: 34.34%
  • Company has a low return on equity of -13.17% for last 3 years.
  • Debtor days have increased from 114.02 to 145.27 days.
  • Company's cost of borrowing seems high
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
96 89 91 187 188 108 35 78 106 75 65 77
123 121 124 182 148 108 61 91 129 116 95 115
Operating Profit -26 -32 -33 5 39 -1 -26 -12 -24 -41 -30 -39
OPM % -27% -36% -37% 3% 21% -1% -75% -16% -23% -55% -47% -50%
Other Income 9 8 2 5 3 -2 6 3 2 13 1 2
Interest 0 0 1 1 1 1 0 0 0 1 0 0
Depreciation 4 5 10 10 10 10 8 7 7 6 4 4
Profit before tax -22 -28 -42 0 32 -13 -29 -18 -29 -35 -33 -41
Tax % -26% 2% -2% 21,540% 57% -57% 3% -11% -8% -15% -1% 3%
Net Profit -27 -28 -42 -11 14 -20 -28 -20 -32 -40 -34 -39
EPS in Rs -2.70 -2.75 -4.16 -1.06 1.38 -1.97 -2.76 -1.93 -3.13 -3.94 -3.34 -3.87

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
159 192 188 186 407 346 293 419 413 428 574 294 322
180 199 188 178 429 340 288 438 465 533 563 398 456
Operating Profit -21 -7 -0 8 -22 6 5 -20 -52 -105 11 -104 -134
OPM % -13% -3% -0% 4% -5% 2% 2% -5% -13% -25% 2% -35% -42%
Other Income 45 16 27 18 18 11 13 20 10 32 9 24 18
Interest 0 0 0 0 1 0 0 1 0 0 3 2 1
Depreciation 10 11 7 8 6 8 9 13 18 18 39 29 21
Profit before tax 13 -1 20 18 -11 8 9 -13 -60 -91 -22 -110 -138
Tax % 53% 27% -5% 20% -53% 34% 140% -131% 22% -7% -166% -8%
Net Profit 6 -1 20 15 -17 6 -4 -28 -45 -97 -59 -119 -144
EPS in Rs 0.96 -0.17 3.13 2.24 -2.64 0.86 -0.47 -3.71 -4.46 -9.63 -5.81 -11.75 -14.28
Dividend Payout % 31% -121% 6% 18% -30% 70% -254% -11% -9% -4% -7% -2%
Compounded Sales Growth
10 Years: 4%
5 Years: 0%
3 Years: -11%
TTM: -21%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -187%
Stock Price CAGR
10 Years: 4%
5 Years: -7%
3 Years: -16%
1 Year: -5%
Return on Equity
10 Years: -7%
5 Years: -11%
3 Years: -13%
Last Year: -20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
13 13 13 13 13 13 15 15 20 20 20 20 20
Reserves 362 359 378 390 370 369 520 492 833 742 672 553 480
Borrowings 0 0 0 0 0 0 0 0 0 0 30 5 6
30 28 33 46 52 48 74 121 96 119 166 189 175
Total Liabilities 405 400 425 449 435 430 609 628 949 880 888 767 681
81 86 32 27 22 28 34 36 42 38 59 27 31
CWIP 3 0 1 0 1 0 2 11 2 1 2 0 0
Investments 180 176 228 150 197 177 218 198 474 300 126 43 25
141 139 165 272 215 224 355 384 431 542 701 697 625
Total Assets 405 400 425 449 435 430 609 628 949 880 888 767 681

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-48 -3 -18 -82 39 -2 -107 -13 -104 -178 -134 -12
43 7 20 89 -39 10 -22 12 -275 183 168 86
-2 -2 -1 -2 -3 -5 135 0 391 -5 -33 -16
Net Cash Flow -8 1 1 5 -3 4 6 -1 12 -0 1 58

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 138 96 66 78 35 71 101 85 83 84 112 145
Inventory Days 396 192 1,316 2,094 1,439
Days Payable 574 93 963 1,219 1,099
Cash Conversion Cycle 138 -82 66 78 35 71 200 439 958 84 453 145
Working Capital Days 248 162 120 317 78 100 228 144 174 262 284 348
ROCE % 0% -4% 1% 1% -5% 1% -0% -4% -7% -11% -3% -18%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
33.26 34.22 34.22 34.22 34.22 34.33 34.34 34.34 34.34 34.34 34.34 34.34
18.45 19.18 19.17 19.53 19.06 18.40 18.44 18.46 18.46 18.46 18.43 18.31
2.93 1.01 1.20 1.37 1.37 1.31 1.63 0.51 0.39 0.39 0.00 0.00
45.36 45.59 45.41 44.88 45.35 45.95 45.59 46.68 46.80 46.80 47.22 47.34

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