chaturvedi shah - eros international...chaturvedi • shah chartered accountants i'i auditor's...
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CHATURVEDI • SHAH Chartered Accountants
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Auditor's Report on Quarterly Consolidated Financial Results and Year to Date Results of the
Company Pursuant to the Regulation 33 of the SEBI {Listing Obligations and Disclosure
Requirements) Regulation, 2015
To,
The Board of Directors of
Eros International Media Limited
1. We have audited the accompanying Statement of Consolidated Financial Results of Eros
International Media Limited ("the Holding Company") and its subsidiaries (the Holding
Company and its subsidiaries together referred to as "the Group"), for the quarter and year
ended March 31, 2018 ("the Statement"), being submitted by the Holding Company pursuant
to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 read with the SEBI Circular No. CIR/CFD/FAC/62/2016 dated
July 5, 2016 ('the Circular').
2. This Statement, which is the responsibility of the Holding Company's Management and
approved by the Board of Directors, has been compiled from the related consolidated financial
statements which are in accordance with the Indian Accounting Standards ("Ind AS") prescribed
under Section 133 of the Companies Act, 2013, read with relevant rules issued there under and
other accounting principles generally accepted in India. Our responsibility is to express an
opinion on the Statement based on our audit of such consolidated financial statements.
3. We conducted our audit in accordance with auditing standards generally accepted in India.
Those Standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statement are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts disclosed in financial results. An
audit also includes assessing the accounting principles used and significant estimates made by
the management. We believe that our audit provides a reasonable basis for our opinion.
4. In our opinion and to the best of our information and according to the explanations given to us,
and based on the consideration of the reports of the other auditors on separate financial
statements of the subsidiaries referred to in paragraph 4(a) below, these quarterly
Consolidated financial results as well as the year to date results:
URL : www.cas.ind.in
Branch : Bengaluru
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CHATURVEDI · SHAH Chartered Accountants
Auditor's Report on Quarterly Consolidated Financial Results and Year to Date Results of the
Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulation, 2015
a. Includes the results of entities as given below:
Name of the Entity Relationship
Eros International Films Private Limited Subsidiary
Eyeqube Studios Private Limited Subsidiary
EM Publishing Private Limited Subsidiary
Eros Animation Private Limited Subsidiary
Bigscreen Entertainment Private Limited Subsidiary
Copsale Limited Subsidiary
Digicine Pte Limited Subsidiary
Colour Yellow Productions Private Limited Subsidiary
Universal Power Systems Private Limited Subsidiary
Ayngaran International Limited {IOM) Subsidiary (Upto 30th
September 2017)
Ayngaran International (UK) Limited Subsidiary (Upto 30th
September 2017)
Ayngaran International {Mauritius) Limited Subsidiary (Upto 30th
September 2017)
Ayngaran International Media Private Limited Subsidiary {Upto 30th
September 2017)
Ayngaran Anak Media Private Limited Subsidiary {Upto 30th
September 2017)
Eros Distribution LLP Subsidiary
b. are presented in accordance with the requirements of Regulation 33 of the SEBI {Listing
Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No.
CIR/CFD/FAC/62/2016 dated July 5, 2016, in this regard; and
c. gives a true and fair view in conformity with the aforesaid Indian Accounting Standards and
other accounting principles generally accepted in India of the net profit including other
comprehensive income and other financial information of the Group for the year ended
March 31, 2018.
Head Office: 714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021, India. Tel.: +91 22 3021 8500 • Fax : +91 22 3021 8595 URL : www.cas.ind.in
Branch : Bengaluru
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CHATURVEDI · SHAH Chartered Accountants
IWi
Auditor's Report on Quarterly Consolidated Financial Results and Year to Date Results of the
Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulation, 2015
Other Matters
5. We did not audit, the financial statements and other financial information, in respect of Five
subsidiaries, whose financial information reflect total assets of ~1,08,765.74 Lakhs as at March
31, 2018 and total revenue of ~30,919.52 lakhs for the year ended March 31, 2018 as
considered in the consolidated financial results. These financial statements and other financial
information have been audited by other auditors whose reports have been furnished to us by
the Management. Our opinion, in so far as it relates to the affairs of such subsidiaries and
associates, is based solely on the report of other auditors.
6. Consolidated financial results include the total revenue of ~1.12 Lakhs for the six months period
ended September 30, 2017, in respect of two subsidiaries which have been disposed off during
the year. Whose reviewed unaudited financial statements have been furnished to us by the
Management and our opinion on these statements, in so far as it relates to the amounts
included in respect of these subsidiaries, is based solely on such reviewed unaudited financial
statement.
Our opinion is not modified in respect of the above matters.
7. Further, read with paragraph 1 above, we report that the figures for the quarter ended March
31, 2018 represent the derived figures between audited figures in respect of the full financial
year ended March 31, 2018 and the published year to date figures up to December 31, 2017,
being the date of the end of the third quarter of the current financial year, which were subject
to limited review, as required under the Regulation and the Circular.
Head Office: 714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021, India. Tel.: +91223021 8500 • Fax :+91223021 8595 URL : www.cas.ind.in
Branch : Bengaluru
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CHATURVEDI · SHAH Chartered Accountants
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Auditor's Report on Quarterly Consolidated Financial Results and Year to Date Results of the
Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulation, 2015
8. The Comparative financial information of the Group for the quarter and year ended March 31,
2017, prepared in accordance with Indian Accounting Standards, included in these consolidated
financial results, have been audited by the predecessor auditor. The report of the predecessor
auditor on the comparative financial information expressed an unmodified opinion.
Place: Mumbai
Date: May 23, 2018
For Chaturvedi & Shah
Chartered Accountants
Amit Chaturvedi Partner
Membership No.: 103141
Head Office: 714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021, India. Tel.: +91 22 3021 8500 • Fax: +91 22 3021 8595 URL : www.cas.ind.in
Branch : Bengaluru
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Ill
IV a) b)
c) d)
e) f)
V
VI a) b)
VII
VIII
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IX
X XI
XII
Eros International Media Limited Regd Office : 20 I Kail ash Plaza, Plot No A-12, Opp Lax mi Industrial Estate, Link Road, Andheri (W), Mumbai 400053
AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2018
(~ in lacs, except per share data)
Quarter ended Quarter ended Quarter ended Vear ended
Partlculars 31 March 2018 31 December 2017 31 March 2017 31 March 2018 (Unaudited) (Unaudited) (Unaudited) (Audited)
Income Net sales/income from operations 23,877 19,351 18,062 96,016
Other Income 1,898 1,146 2979 4,985
Total Income (1+11) 25, 775 20,497 21,041 101,001
Expenses Film right costs including amortization costs 7,990 7,230 8,232 39,927 Changes In inventories of film rights (148) (1) 24 (141)
Employee benefits expense 1,393 1,414 1,595 5,894
Finance costs (net) 2,226 1,833 2,253 8,053
Depreciation and amortization expense 278 266 294 1,028 Other expenses 5,606 1544 4, 295 17.,505
Total expenses [IV) 17,345 12,286 16,693 72,266
Profit before tax (Ill-IV) 8,430 8,211 4,348 28,735
Tax expense Current tax 3,798 2,903 2,834 9,717
Deferred tax expenses/(income} (1,237) (1,408) (1,653) (4,104)
Total tax expenses/(credlt) net 2,561 1,495 1,181 5,613
Proflt/lloss) for the year from continuing operation (V-VIJ 5,869 6,716 3,167 23,122
Attributable to:
Equity holders of Eros International Media Limited 6,079 6,504 3,371 22,934
Non-Controlllng Interests (210) 212 (204) 188
Other Comprehensive lncome/(lossl
Items that will not be recla,slfled to pro~t or loss 9 33 1 73 Items that will be reclassifled subsoquenttv to profit or loss 1,047 (1,133) (2,886) (22)
Total other comprohon,Jve lncome/(los,J for the yeor 1,056 (1,100 (2,885) 51 Total comprehensive lncome/(loss) for the year (Vll+VIII) 6,925 5,616 282 23,173
Attributable to: Equity holders of Eros lnternatlonal Media limited 7,428 5,111 429 23,207
Non-Contro!Hng Interests (503) 505 (147) (34J
Paid up equity share capital (Face value of~ 10 each) 9,497 9,463 9,385 9,497
Reserve excluding revaluation reserve . - 214,803 Earnings per share (EPS) (of~ 10 each) (not annualised)
Basic 6.41 6.88 3.59 24.26
Diluted 6.31 6.78 3,53 23.92
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Notes:
1 The Audit Committee has reviewed the above results and the Board of Directors have approved the above results and it's released at their respective meetings held on 23 May 2018.
Statement of assets and liabilities { Amount in~ lakhs unless otherwise stated)
Property, plant & equipment Intangible assets
a) Content advances
b) FIim rights c) Others intangible assets
d) Intangible assets under development
e) Goodwill Financial assets
a) loans
b) Restricted bank deposits
c) Other fina ncial assets
Other non-current assets
Total non-current assets
Current assets
Inventories
Financial assets
a) Investments• b) Trade and other receivables c) Cash & cash equivalents d) Restricted bank deposits
e) loans and advances
f) Other financial assets Other current assets
Tota{ current assets
Total assets
• Amount below one lakh
Equity and Llabllitles Equity Equity share capital
Other eQuity
Equity attributable to owners N0n•contr0Ulne: Interests
Total equity
Llabllltles Non•cul'rent llabllltles Flnanclal liabilities
a) Borrowings b) Trade payables c) Other financial liabilities
Employee benefit obllgatlons
Deferred tax liabilities
Other non-current liabillties
Total non-curl'ent Uab llltrcs
Current llabllltles Financial liabilities
a) Borrowings
b) Acceptance c) Trade payables
d) Other financial liabllitles
Employee benefft obligations
Current tax liabilities
Other current llabllltl"-' Total current llabllltles Total llablllties
Total equity and llobllllles
Place: Mumbai
Date: 23 May 2018
Asat Asat
31 March 2018 31 March 2017
4,100 4,216
151,234 141,611 105,143 120,370
1,590 1,900 7,079 2,550 1,283 2,060
11,862 3,533 716 217 789 864
4,686 6,159 288,482 283,480
187 46
0 69,857 63,058 14,230 13,417 3,776 4,256 1,167 3,013
302 187 683 125
90,202 84,102 378,684 367,582
9,497 9,385 214,803 191,521 224,300 200,906
1,288 (4G6) 225,588 200,440
14,952 14,940 102 84
1 487 450
24,501 22,499 1,512 3,016
41,554 40,990
46,808 43,033 5,796 5,795
32,327 29,542 9,066 10,886
224 218 3,684 4,400
13 637 32,278 111,542 126,152 153,096 167,142 378,684 367,582
which take Into account holidays and festivals in India and elsewhere, competitor fllm releases and sporting events,
EROS INTERNATIONAL MEDIA LIMITED E>Cecutive Vice Chairman and Managing Director
Corporate Office: 901/902, Supreme Chambers, Off Veera Desai Road, Andheri (W), Mumbai - 400 053 . Tel.: +91-22-6602 1500 Fax: +91-22-6602 1540 E-mail: [email protected] • www.erosintl.com
Regd. Office: Kailash Plaza, 2nd Floor, Plot No. 12, Off Veera Desai Road, Andheri (W), Mumbai - 400 053 . CIN No. L99999MH1994PLC080502