Shemaroo Entertainment Ltd

About

Shemaroo Entertainment is engaged in the business of distribution of content for Broadcasting of Satellite Channels, Physical Formats and Emerging Digital Technologies like Mobile, Internet, Broadband, IPTV and DTH among others.

Key Points

Company also launched two TV channel Shemaroo MarathiBana in Oct'19 and Shemaroo TV April'20. [1]

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  • Market Cap 345 Cr.
  • Current Price 126
  • High / Low 181 / 55.0
  • Stock P/E 171
  • Book Value 212
  • Dividend Yield 0.00 %
  • ROCE 0.75 %
  • ROE -3.66 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.60 times its book value
  • Debtor days have improved from 80.33 to 64.21 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -3.67% over past five years.
  • Company has a low return on equity of 5.64% for last 3 years.
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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
148.95 132.19 143.03 150.33 97.04 122.74 86.20 59.26 88.02 77.63 74.76 123.13
113.66 91.18 111.12 121.83 77.57 125.83 91.09 59.98 80.94 66.52 67.62 112.92
Operating Profit 35.29 41.01 31.91 28.50 19.47 -3.09 -4.89 -0.72 7.08 11.11 7.14 10.21
OPM % 23.69% 31.02% 22.31% 18.96% 20.06% -2.52% -5.67% -1.21% 8.04% 14.31% 9.55% 8.29%
Other Income 0.69 0.82 0.85 0.55 0.52 -5.11 0.34 0.51 0.28 -0.11 0.30 0.07
Interest 6.52 7.30 5.77 5.56 5.93 7.12 6.86 7.31 7.11 7.16 7.09 6.41
Depreciation 1.44 1.42 1.44 2.03 2.01 2.03 1.87 1.85 1.82 1.74 1.74 1.72
Profit before tax 28.02 33.11 25.55 21.46 12.05 -17.35 -13.28 -9.37 -1.57 2.10 -1.39 2.15
Tax % 30.19% 37.81% 35.89% 9.60% 27.47% 18.90% 3.54% 1.71% -7.64% 12.86% 2.16% -30.23%
Net Profit 19.57 20.89 16.15 19.49 8.50 -13.99 -12.96 -9.16 -1.53 2.18 -1.36 2.72
EPS in Rs 7.20 7.69 5.94 7.17 3.13 -5.15 -4.77 -3.37 -0.56 0.80 -0.50 1.00

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
102 158 182 215 265 323 375 426 489 568 513 311 364
84 124 135 157 200 236 267 298 346 410 436 299 328
Operating Profit 18 34 47 57 65 88 108 128 142 158 77 13 36
OPM % 17% 22% 26% 27% 25% 27% 29% 30% 29% 28% 15% 4% 10%
Other Income 2 1 5 1 1 1 2 3 1 2 -3 1 1
Interest 16 15 19 18 19 22 23 32 31 26 24 28 28
Depreciation 3 3 3 3 3 4 4 4 5 6 8 7 7
Profit before tax 0 17 29 37 43 63 83 94 108 128 42 -22 1
Tax % 3% 21% 26% 34% 38% 35% 37% 36% 34% 36% 27% 1%
Net Profit 0 14 21 23 27 41 52 62 71 83 30 -21 2
EPS in Rs 7.02 29.91 10.55 11.81 13.68 15.05 19.19 22.72 26.18 30.52 11.09 -7.90 0.74
Dividend Payout % 0% 7% 5% 4% 4% 8% 7% 6% 6% 5% 0% 0%
Compounded Sales Growth
10 Years: 7%
5 Years: -4%
3 Years: -14%
TTM: 0%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 109%
Stock Price CAGR
10 Years: %
5 Years: -21%
3 Years: -35%
1 Year: 121%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 6%
Last Year: -4%

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
0 5 20 20 20 27 27 27 27 27 27 27 27
Reserves 77 86 106 129 155 290 338 399 466 545 570 549 550
Borrowings 109 108 110 122 183 137 212 296 201 202 251 269 241
25 29 36 25 55 34 35 58 37 56 54 31 59
Total Liabilities 211 228 272 295 412 488 613 780 731 830 902 877 877
36 35 36 35 34 30 30 35 33 32 34 27 25
CWIP 0 0 0 0 0 0 1 0 0 0 0 0 0
Investments 0 6 10 9 9 17 8 7 7 6 3 3 3
175 186 226 251 369 442 574 738 691 792 865 847 850
Total Assets 211 228 272 295 412 488 613 780 731 830 902 877 877

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
12 23 15 -1 -19 -30 -49 -58 133 32 -8 10
0 -9 -6 -1 -1 -9 -4 -4 -14 -3 -6 -1
-9 -25 -9 -3 20 41 53 62 -119 -29 13 -9
Net Cash Flow 3 -12 -0 -5 -0 2 -1 -0 -1 -0 -0 0

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 218 154 183 121 194 143 104 163 105 102 75 64
Inventory Days 463 568 747 749
Days Payable 71 32 20 29
Cash Conversion Cycle 218 154 183 121 586 679 831 884 105 102 75 64
Working Capital Days 431 291 364 386 437 458 519 577 486 472 574 944
ROCE % 9% 17% 22% 22% 20% 21% 20% 19% 20% 21% 9% 1%

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
65.82 65.82 65.82 65.82 65.82 65.88 65.88 65.88 65.88 65.88 65.88 65.88
18.34 18.41 18.47 20.12 20.24 19.84 15.63 10.21 10.18 10.50 7.32 3.95
0.07 0.21 0.19 0.29 0.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00
15.77 15.56 15.52 13.77 13.67 14.28 18.49 23.91 23.94 23.62 26.80 30.18

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