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Mukta Arts: 1QFY01 results

Jul 23, 2001

Mukta Arts recorded Rs 122 m net revenues for 1QFY01. Apparently, revenues of Rs 65 m from the sale of domestic music rights of the company's forthcoming movie "Yaadein" seems to have been recorded in the current quarter. The balance revenues of around Rs 60 m seem to have come from the movie "Rahul" which was released in April this year. The production cost of the same is projected to be around Rs 35 m.

(Rs m) FY00 FY01
Sales 33 123
Other Income 0 9
Expenditure 4 84
Operating Profit (EBDIT) 29 39
Operating Profit Margin (%) 87.4% 31.5%
Interest 0 0
Depreciation 4 7
Profit before Tax 25 40
Tax - -
Profit after Tax/(Loss) 25 40
Net profit margin (%) 75.8% 32.6%
No. of Shares (eoy) (m) 16.5 23.2
Diluted Earnings per share* 6.0 6.9
P/E (at current price) 22.3 19.4

The results are comparable on a quarterly basis as revenues and operating margins tend to fluctuate heavily, depending on releases of films. The coming quarters of FY02 would be eventful in the history of the Mukta Arts banner as it would be releasing three movies in a span of 12 months for the very first time. Mukta Arts has already sold the domestic rights of "Yaadein" for an amount of Rs 84 m. The production cost on the movie is estimated to be around Rs 170 m. The company is already assured of revenues to the tune of Rs 210 m from sale of domestic/international music rights, domestic theatrical rights and infilm ads. The international rights of the same are yet to sold.

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