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									                                                                                               Regd off: 4th flr., A Wing, Matulya Centre, Lower Parel, Mumbai-13
ENTERTAINMENT NETWORK (INDIA) LIMITED                                                          E-Mail:    mehul.shah@timesgroup.com
                                                                                               Web site: www.enil.co.in
                                                                                               Telephone: (022) 6662 0600 Fax: (022) 6661 5030
MEDIA                                                              MISCELLANEOUS               Tr agent: Karvy Computershare, Karvy House, 46, Avenue 4, Hyderabad - 34
Chairman: Vineet Jain                                                            SEC: Mehul Shah                                         AUD: Price Waterhouse & Co.
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
 1999   532700             ENIL:IN    10           205.4          4.2              -30.9         NM        NM              0.0          9,789.0              104.7        INE265F01028
SHAREHOLDING                                                     FX Transaction (FY09)                                ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters           : 71.2%               Exports (fob)          Rs m         0
Foreign collaborators      :  0.0%
                                                                                                       (Rs)
                                                 Imports (cif)          Rs m         1
Indian inst/Mut Fund       :  1.0%               Fx inflow              Rs m         1           800
FIIs/GDR                   : 17.5%               Fx outflow             Rs m         9                                                                        DAILY
Free float                 : 10.3%               Net fx                 Rs m        -8
Shareholders               : 20,518                                                                                                                           100 DMA
                                                                                                 600
                           No. of months                  12            12              12
                             Year ending            31/03/07      31/03/08        31/03/09
EQUITY SHARE DATA
                                                                                                 400
High                                  Rs                 355            700             460
Low                                   Rs                 161            307               93
Sales per share                       Rs                49.4           86.8            89.4
Earnings per share                    Rs                 5.3            -3.6          -12.6      200
Cash flow per share                   Rs                  9.2            4.0           -1.6
Dividends per share                   Rs                0.00           0.00            0.00
Dividend yield (eoy)                  %                  0.0             0.0             0.0
                                                                                                   0
Book value per share                  Rs                61.3           92.5            79.8
Shares outstanding (eoy)              m                47.58          47.66          47.67         Aug-06             Jun-07            Feb-08           Nov-08               Aug-09
Bonus/Rights/Conversions                               ESOP           ESOP           ESOP
Price / Sales ratio                   x                   5.2            5.8             3.1                               No. of months                12            12            12
Avg P/E ratio                         x                 48.7         -140.3           -21.9                                  Year ending          31/03/07      31/03/08      31/03/09
                                                                                                CASH FLOW
P/CF ratio (eoy)                      x                 28.0          125.0         -173.4
Price / Book Value ratio              x                   4.2            5.4             3.5    From Operations                         Rs   m       -214            -2,083      1,103
Dividend payout                       %                  0.0             0.0             0.0    From Investments                        Rs   m       -527              -496       -480
Avg Mkt Cap                           Rs m            12,276         23,997         13,181      From Financial Activity                 Rs   m        773             2,612       -596
No. of employees                      `000                  1              1               1    Net Cashflow                            Rs   m         31                34         27
Total wages/salary                    Rs m               447            667             772
Avg. sales/employee                   Rs Th          3,462.4        4,725.7        5,429.3                                        INTERIM RESULTS
Avg. wages/employee                   Rs Th            658.3          762.3          983.4                                            2QFY09  3QFY09            4QFY09         1QFY10
Avg. net profit/employee              Rs Th            371.1         -195.4         -766.9      Net sales                   Rs    m      616      599              503            502
                                                                                                Gross profit                Rs    m        27      127               78             36
INCOME DATA                                                                                     Gross profit margin         %             4.4     21.2             15.5            7.2
Net Sales                             Rs     m         2,351            4,135        4,262      Net profit                  Rs    m       -33       48               12            -15
Other income                          Rs     m            35                40           54     Net profit margin           %            -5.4      8.0              2.4           -3.0
Total revenues                        Rs     m         2,386            4,175        4,316
Gross profit                          Rs     m           435              322           -91                                          KEY DATA
Depreciation                          Rs     m           187              363          526      Parameters                          Unit             FY07             FY08       FY09
Interest                              Rs     m            40              181          168      Airtime Sales                       % of sales        70.4             54.0       53.5
Profit before tax                     Rs     m           243             -182         -731      Event Income                        % of sales        15.2             13.2       11.8
Minority Interest                     Rs     m              0                5         126      Out of Home Media Income            % of sales        13.4             32.0       34.8
Prior Period Items                    Rs     m              0                0            0     Production Expenses                 % of sales        16.5             15.3       15.2
Extraordinary Inc (Exp)               Rs     m              0                0            0     License Fees                        % of sales        13.9             32.7       39.6
Tax                                   Rs     m             -9               -6           -3
                                                                                                                                       NOTES
Profit after tax                      Rs     m           252             -171         -602
Gross profit margin                   %                 18.5               7.8         -2.1    Entertainment Network India (ENIL), a part of the Times Group, is present in
Effective tax rate                    %                  -3.7              3.3          0.4    businesses such as radio, outdoor advertising and live entertainment. ENIL's radio
                                                                                               brand - Radio Mirchi dominates the markets of Mumbai, Delhi and Bangalore. In fact,
Net profit margin                     %                 10.7              -4.1       -14.1
                                                                                               Radio Mirchi has a 50% market share of the private FM radio industry. ENIL's
BALANCE SHEET DATA                                                                             outdoor advertising brand - Times OOH - has won contracts for some of the best
                                                                                               properties like Delhi Airport (domestic and international), Mumbai Airport (domestic
Current assets                        Rs m             1,576            4,301        3,204     and international), Delhi Metro and Kolkata Metro. ENIL also operates in the live
Current liabilities                   Rs m               599              910          994     entertainment business and has the distinction of managing events like Filmfare
Net working cap to sales              %                 41.6             82.0         51.9     Awards and Femina Miss India Contest.
Current ratio                         x                   2.6              4.7          3.2
Inventory Turnover                    Days                  0                0            0    In FY09, ENIL's topline increased by 3% YoY while it continued to incur losses at the
Debtors Turnover                      Days               113              118          115     bottom line level. The company's results suffered from the sluggishness in the
Net fixed assets                      Rs m             3,025            3,182        3,182     advertising markets as a result of the overall economic slowdown in the country.
Share capital                         Rs m               476              477          477
                                                                                               ENIL is expected to continue to dominate the radio space as its programming is
"Free" reserves                       Rs m             2,430            3,927        3,488
                                                                                               superior to that of its competitors. The radio industry, fuelled by the positive FM-II
Net worth                             Rs m             2,916            4,407        3,805     Radio Policy is projected to grow to Rs 18 bn by 2012 as per the PWC report on the
Long term debt                        Rs m               750              601          601     Indian media sector. Driven by heavy infrastructure development, newer advertising
Total assets                          Rs m             4,626            7,513        6,386     sites such as flyovers, metro rails, airports have emerged, which should drive the
Interest coverage                     x                   7.1              0.0         -3.4    growth of the out-of-the-home (OOH) advertising market in the future. A slow down in
Debt to equity ratio                  x                   0.3              0.1          0.2    India's GDP growth will lead to a decline in the advertising revenues of ENIL. The
Sales to assets ratio                 x                   0.5              0.6          0.7    entry of new players in different cities may also lead to a decline in ENIL's market
Return on assets                      %                   8.0              0.2         -9.9    share.
Return on equity                      %                   8.6             -3.9       -15.8
Return on capital                     %                   7.7              0.1         -9.9
Exports to sales                      %                   0.0              0.0          0.0
Imports to sales                      %                   3.8              0.4          0.0
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