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Analyst Meet / AGM
04-Feb-11
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Conference Call
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Cinemax India
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Planning to add 35 more screens in Q4 or mid of April
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Cinemax India held a conference call to discuss the third quarter results of FY 2011. Mr Jitendra Mehta, Group CFO, alongwith other members of the senior management team addressed the call.
Highlights of the call
- For Q3, the consolidated net sales decreased by 4% to Rs 57.4 crore while net profit decreased by 62% to Rs 4.09 crore.
- For 9M FY11, the consolidated net sales increased by 24% to Rs 155.13 crore while net profit decreased by 39% to Rs 7.62 crore.
- Occupancy for Q3 FY11 stood at 26% as compared to 35% in Q3FY10. For 9M FY11, occupancy was 24% compared to 27% in 9M FY10.
- Average Ticket Price (ATP) at Rs 134 for Q3 FY11 as compared to Rs 131 in Q3FY10. For 9M FY11, ATP was 137 compared 126 in 9M FY10.
- F&B spending per head stood at Rs 35 for Q3 FY11 as compared to 31 in Q3FY10. For 9M FY11, ATP was 35 compared 31 in 9M FY10.
- In December, one screen was started in Malegaon
- It is present in 32 locations with 102 screens and 27042 seats. It is planning to add 35 more screens with seat capacity of 6947, most of which will come in Q4 or mid of April. The impact of these new properties can be seen in FY12 numbers.
- In addition, 4 to 5 more properties will be developed in FY12. The company has planned a capex of around Rs 66 crore for next year.
- The company has 108 crore debt and Rs 3.5 crore cash on book as on 31st December 2010.
- The management is expecting FY12 to be good for its exhibition business as lot of films are in pipeline for FY12.
- With Q4 having Cricket World Cup and IPL, near term operational performance is expected to be muted.
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