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					                                                                                             Regd off: C-13, Balaji House, Dalia Indl. Estate, New Link Road, Mumbai - 53
BALAJI TELEFILMS LIMITED                                                                     E-Mail:    investor@balajitelefilms.com
                                                                                             Web site: www.balajitelefilms.com
                                                                                             Telephone: (022) 4069 8000 Fax: (022) 4069 8182
MEDIA                                                              MISCELLANEOUS             Tr agent: Karvy Computershare, Plot 17-24, Vittalrao Nagar, Hyderabad-81
Chairman: Jeetendra Kapoor                                                     SEC: Alpa Khandor                                       AUD: Deloitte Haskins & Sells
Yr of Inc   B. Code       BL. Code    F.V.         Price        % ch 1-m       % ch 12-m       P/E      P/CF            Yield         Mkt cap               Vol.            ISIN
 2000   532382             BLJT:IN     2            61.7          21.3           -63.9        804.7      16.7            0.5          4,023.5              156.8        INE794B01026
SHAREHOLDING                                                     FX Transaction (FY09)                              ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters           : 40.1%               Exports (fob)          Rs m         0
Foreign collaborators      :  0.0%
                                                                                                     (Rs)
                                                 Imports (cif)          Rs m         0
Indian inst/Mut Fund       : 10.7%               Fx inflow              Rs m     1,774         400
FIIs/GDR                   :  1.0%               Fx outflow             Rs m         3                                                                       DAILY
Free float                 : 48.2%               Net fx                 Rs m     1,771
Shareholders               : 30,323                                                                                                                          100 DMA
                                                                                               300
                           No. of months                  12            12            12
                             Year ending            31/03/07      31/03/08      31/03/09
EQUITY SHARE DATA
                                                                                               200
High                                  Rs                 194            388           208
Low                                   Rs                  95            121             39
Sales per share                       Rs                49.1           58.0          51.8
Earnings per share                    Rs                12.2           14.7            0.1     100
Cash flow per share                   Rs                13.9           16.7            3.7
Dividends per share                   Rs                3.50           3.50          0.30
Dividend yield (eoy)                  %                  2.4            1.4            0.2
                                                                                                 0
Book value per share                  Rs                46.6           57.2          56.9
Shares outstanding (eoy)              m                65.21          65.21         65.21        Aug-06             Jun-07            Feb-08            Nov-08              Aug-09
Bonus/Rights/Conversions                                    -              -             -
Price / Sales ratio                   x                   2.9            4.4           2.4                               No. of months                12            12            12
Avg P/E ratio                         x                 11.8           17.3       1,610.7                                  Year ending          31/03/07      31/03/08      31/03/09
                                                                                              CASH FLOW
P/CF ratio (eoy)                      x                 10.4           15.3          33.4
Price / Book Value ratio              x                   3.1            4.5           2.2    From Operations                         Rs   m        703               591           706
Dividend payout                       %                 28.7           23.8         391.3     From Investments                        Rs   m       -209              -582          -405
Avg Mkt Cap                           Rs m             9,423         16,596         8,053     From Financial Activity                 Rs   m       -478                -5          -267
No. of employees                      `000                NA             NA            NA     Net Cashflow                            Rs   m         16                 5            34
Total wages/salary                    Rs m               116            140           144
Avg. sales/employee                   Rs Th               NA       34,400.0            NA                                       INTERIM RESULTS
Avg. wages/employee                   Rs Th               NA        1,272.7            NA                                           2QFY09  3QFY09             4QFY09        1QFY10
Avg. net profit/employee              Rs Th               NA        8,700.0            NA     Net sales                   Rs    m     1,034     507                530          398
                                                                                              Gross profit                Rs    m       231       24              -138            33
INCOME DATA                                                                                   Gross profit margin         %            22.3      4.7             -26.0           8.3
Net Sales                             Rs     m         3,202          3,784        3,375      Net profit                  Rs    m       181        6              -147            89
Other income                          Rs     m            42             76          106      Net profit margin           %            17.5      1.2             -27.7          22.4
Total revenues                        Rs     m         3,244          3,860        3,481
Gross profit                          Rs     m         1,195          1,349          163                                            KEY DATA
Depreciation                          Rs     m           113            129          236      Parameters                          Unit             FY07            FY08        FY09
Interest                              Rs     m             0              0             0     Total programming                   Hours            1,820           1,571       1,497
Profit before tax                     Rs     m         1,124          1,296            33     Commissioned programmes             % of sales        92.0            91.0        91.2
Minority Interest                     Rs     m             0              0             0     Sponsored programmes                % of sales          8.0             9.0         8.8
Prior Period Items                    Rs     m             3             -5            -3     Cost of prodn. of serials & films   % of sales        50.2            51.6        69.8
Extraordinary Inc (Exp)               Rs     m            53            100            84
Tax                                   Rs     m           384            434          109
                                                                                                                                     NOTES
Profit after tax                      Rs     m           796            957             5
Gross profit margin                   %                 37.3           35.7           4.8    Balaji Telefilms is a leading entertainment software provider in India's fast growing
Effective tax rate                    %                 34.2           33.5        330.3     television market. It was promoted by veteran Indian actor Jeetendra Kapoor, his wife
                                                                                             Sobha Kapoor and daughter Ekta Kapoor. Balaji develops content for Star Plus, Sony,
Net profit margin                     %                 24.9           25.3           0.1
                                                                                             Zee TV, Sun TV, Gemini TV, Udaya TV and Surya TV.
BALANCE SHEET DATA
                                                                                             During FY09, Balaji's topline declined by 10% YoY. It produced 1,497 hours of
Current assets                        Rs m             1,264          1,705        1,021     programming. Its subsidiary, Balaji Motion Pictures, released 4 movies during the
Current liabilities                   Rs m               391            750          430     year - Sarkar Raj, EMI, C Kompany and Mission Istanbul. The company reported a
Net working cap to sales              %                 27.3           25.2         17.5     realisation of Rs 2.89 m per hour from commissioned programming in FY09 as
Current ratio                         x                   3.2            2.3          2.4    against Rs 3.27 m in the previous year. Realisation per hour from sponsored
Inventory Turnover                    Days                14             18            10    programming stood at Rs 0.46 m in FY09 as against Rs. 0.43 m in the previous year.
Debtors Turnover                      Days                79             72            55    During the year, Balaji provided as bad debt an amount of Rs 183 m due from a
Net fixed assets                      Rs m               443            620          920     general entertainment channel. Further, the cost of a set constructed exclusively for
Share capital                         Rs m               130            130          130     a serial which went off air was partly written off to the extent of Rs 95 m.
"Free" reserves                       Rs m             2,909          3,598        3,580
                                                                                             Its stronghold on the soap category has been eroded by the successful entry of
Net worth                             Rs m             3,040          3,729        3,711     several content providers. The niche that Balaji enjoyed on Star has also ended. The
Long term debt                        Rs m                  0              0            0    company's foray into new genres and broadcasters has also not been able to
Total assets                          Rs m             3,478          4,522        4,098     generate the traction it had in its early years, when it came out with several soaps one
Interest coverage                     x                  NM             NM           NM      after the other. Balaji is building a state of art studio at Mira Road, a suburb in
Debt to equity ratio                  x                   0.0            0.0          0.0    Mumbai, to build an art studio for which it has incurred investments to the tune of Rs
Sales to assets ratio                 x                   0.9            0.8          0.8    338 m. The company's overseas subsidiary, Balaji Telefilms FZE, has been wound
Return on assets                      %                 26.2           25.7           0.1    up.
Return on equity                      %                 26.2           25.7           0.1
Return on capital                     %                 38.8           37.3           3.1
Exports to sales                      %                   0.0            0.0          0.0
Imports to sales                      %                   0.1            0.5          0.0
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