Entertainment Network (India) Ltd — Interim / Quarterly Report 2022

Oct 27, 2021

INVESTOR UPDATE

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PERFORMANCE REVIEW: Q2 FY22 Oct 27, 2021

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Presentation Path

❖ Financial Review

❖ Business Review

❖ Strategic Direction

• ❖ Investors Contact

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Financial Review

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Condensed Statement Of Operations

(Standalone)

₹ In Millions	Q2 FY22	%age of Total Income	Q2 FY21	%age of **Total Income **	Growth (%)
Income from Operations	684.8	99.5%	462.4	98.3%	48.1%
Other Operating Income	3.3	0.5%	8.0	1.7%	(58.4%)
Total Income	688.1	**100.0% **	470.4	100.0%	46.3%
Operating Expenditure	598.9	87.0%	532.6	113.2%	12.4%
EBITDA	89.2	13.0%	(62.2)	(13.2%)	243.3%
Depreciation	85.0	12.4%	107.6	22.9%	(21.0%)
Amortisation	114.0	16.6%	133.4	28.4%	(14.5%)
EBIT	(109.8)	(16.0%)	(303.2)	(64.5%)	63.8%
Other Income	39.5	5.7%	37.9	8.1%	4.3%
Finance Cost	40.7	5.9%	50.8	10.8%	(19.9%)
Profit Before Tax (PBT)	(111.0)	(16.1%)	(316.1)	(67.2%)	64.9%
Taxation	(32.0)	(4.7%)	(79.0)	(16.8%)	59.4%
Profit After Tax (PAT)	(79.0)	(11.5%)	(237.1)	(50.4%)	66.7%
Other Comprehensive Income(net)	(4.7)	(0.7%)	0.0	0.0%	NM
Total Comprehensive Income	(83.7)	(12.2%)	(237.1)	(50.4%)	64.7%

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Financial Performance Q2 FY22

(All comparisons with corresponding period of previous year)

• FCT revenue grew by 50%

• Non-FCT

• ➢ Solutions revenue grew by 51.0%, Third Party radio (due to discontinuance) and other operating income grew at a slower pace

• ➢ Non-FCT Gross Margins @ 69.3% (Q2 FY22: 52.7%)

• ➢ Non-FCT EBITDA margin @ 41.9% (Q2 FY22: 35.8%)

• Revenue of Migrated stations (35) up by 45.3% during the quarter

• Batch 1 revenues during the quarter : Rs.82.7 Mn up by 26.9%

• ➢ EBITDA: Rs. 10.3 Mn ; Q2 FY22 : Rs. (24.7) Mn

• Batch 2 revenues during the quarter : Rs 43.2 Mn up by 118.4%

• ➢ EBITDA: Rs.15.9 Mn; Q2 FY22 : Rs. (10.8) Mn

• Revenue from Digital during the quarter Rs 62.8 Mn; 9.1% of Overall revenue.

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Financial Performance Q2 FY22

(All comparisons with corresponding period of previous year)

• Overall operating costs excluding DVC reduced by 19.3% compared to Q2 FY20

• Covid-induced PDD as on Sep 30, 2021: Rs. 27.9 Mn

• Q2 Impact of IND AS 116 on PAT : Rs.9.3 Mn (Standalone) ; Rs. 15.6 Mn (Consolidated)

• Net Cash as on Sep 30, 2021: Rs 2.05 Bn

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Condensed Statement Of Operations

(Standalone)

₹ In Millions	YTD Sep'21	%age of **Total Income **	YTD Sep'20	%age of **Total Income **	Growth (%)
Income from Operations	1,070.1	99.4%	816.8	98.0%	31.0%
Other Operating Income	6.5	0.6%	16.3	2.0%	(60.0%)
Total Income	1,076.6	**100.0% **	833.1	100.0%	29.2%
OperatingExpenditure	1,174.6	109.1%	1,154.9	138.6%	1.7%
EBITDA	(98.0)	(9.1%)	(321.8)	(38.6%)	69.5%
Depreciation	168.3	15.6%	213.7	25.7%	(21.3%)
Amortisation	226.9	21.1%	265.3	31.8%	(14.5%)
EBIT	(493.2)	(45.8%)	(800.8)	(96.1%)	38.4%
Other Income	93.9	8.7%	92.1	11.1%	1.9%
Finance Cost	80.5	7.5%	95.5	11.5%	(15.7%)
Profit/(Loss) Before Tax (PBT)	(479.8)	(44.6%)	(804.2)	(96.5%)	40.3%
Taxation	(123.4)	(11.5%)	(201.0)	(24.1%)	38.6%
Profit After Tax (PAT)	(356.4)	(33.1%)	(603.2)	(72.4%)	40.9%
Other Comprehensive Income(net)	(6.2)	(0.6%)	(1.1)	(0.1%)	(461.5%)
Total Comprehensive Income	(362.6)	(33.7%)	(604.3)	(72.5%)	40.0%

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Summarized Balance Sheet

(Standalone)

₹ In Millions	As on	As on	As on	As on
	Sep'21	%age to Total	Mar'21	%age to Total
Shareholders' Funds Capital Reserves and Surplus	476.7 7,156.9 7,633.6 2,121.8	4.9% 73.4% 78.2% 21.8%	476.7 7,567.2 8,043.9 2,123.9	4.7% 74.4% 79.1% 20.9%
Net Worth Financial Lease Liability
Total	9,755.4	100.0%	10,167.8	100.0%
Fixed Assets (Net) Tangible & Intangibles Right of Use Asset Sub-total Investment in Subsidiaries Deferred Tax Assets (Net) Other Long Term Assets (Net) Short Term Assets (Net) Cash & Cash Equivalents	4,798.5 1,506.9 6,305.4 257.6 346.4 373.2 415.7 2,057.0	49.2% 15.4% 64.6% 2.6% 3.6% 3.8% 4.3% 21.1%	5,067.2 1,520.2 6,587.4 196.4 221.0 387.0 592.9 2,183.1	49.8% 15.0% 64.8% 1.9% 2.2% 3.8% 5.8% 21.5%
Total	9,755.4	100.0%	10,167.8	100.0%

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Condensed Statement Of Operations

(Consolidated)

₹ In Millions	Q2 FY22	%age of Total Income	Q2 FY21	%age of Total Income	Growth (%)
Income from Operations	724.2	99.5%	475.7	98.4%	52.2%
Other Operating Income	3.3	0.5%	8.0	1.6%	(58.4%)
Total Income	727.5	**100.0% **	483.7	100.0%	50.4%
OperatingExpenditure	630.3	86.6%	546.9	113.1%	15.2%
EBITDA	97.2	13.4%	(63.2)	(13.1%)	253.8%
Depreciation	116.4	16.0%	122.1	25.3%	(4.7%)
Amortisation	114.9	15.8%	133.4	27.6%	(13.9%)
EBIT	(134.1)	(18.4%)	(318.7)	(66.0%)	57.9%
Other Income	40.5	5.6%	44.9	9.3%	(9.8%)
Finance Cost	46.6	6.4%	52.6	10.9%	(11.3%)
Profit Before Tax (PBT)	(140.2)	(19.3%)	(326.3)	(67.6%)	57.1%
Taxation	(31.9)	(4.4%)	(78.8)	(16.3%)	59.6%
Profit After Tax (PAT)	(108.3)	(14.9%)	(247.5)	(51.3%)	56.3%
Other Comprehensive Income (net)	(5.3)	(0.7%)	(0.1)	(0.0%)	NM
Total Comprehensive Income	(113.5)	(15.6%)	(247.6)	(51.3%)	54.1%

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Condensed Statement Of Operations

(Consolidated)

₹ In Millions	YTD Sep'21	%age of **Total Income **	YTD Sep'20	%age of **Total Income **	Growth (%)
Income from Operations	1,136.6	99.4%	844.8	98.1%	34.5%
Other Operating Income	6.5	0.6%	16.3	1.9%	(60.0%)
Total Income	1,143.1	**100.0% **	861.1	100.0%	32.8%
Operating Expenditure	1,226.3	107.3%	1,183.6	137.5%	3.6%
EBITDA	(83.2)	(7.3%)	(322.5)	(37.5%)	74.2%
Depreciation	219.8	19.2%	243.0	28.2%	(9.6%)
Amortisation	228.4	20.0%	265.3	30.8%	(13.9%)
EBIT	(531.4)	(46.5%)	(830.8)	(96.5%)	36.0%
Other Income	95.9	8.4%	103.4	12.0%	(7.3%)
Finance Cost	90.3	7.9%	99.8	11.6%	(9.5%)
Profit Before Tax (PBT)	(525.8)	(46.0%)	(827.2)	(96.1%)	36.4%
Taxation	(123.1)	(10.8%)	(200.7)	(23.3%)	38.7%
Profit After Tax (PAT)	(402.7)	(35.2%)	(626.5)	(72.8%)	35.7%
Other Comprehensive Income (net)	(5.4)	(0.5%)	(1.1)	(0.1%)	(392.7%)
Total Comprehensive Income	(408.1)	(35.7%)	(627.6)	(72.9%)	35.0%

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Business Review

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Normalization in retail activity fueled recovery…

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Retail & Recreation

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We remain optimistic, but only cautiously so

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Key Operating Highlights

• USA Expansion:

• Launched in Bay Area as Mirchi 1170AM on July 4, 2021

• ‘

• • Launched an unique online Telugu station Mirchi Telugu’ exclusively for the

• Telugu music lovers on August 15, 2021

• New B2B Marketing Campaign highlighting the importance of communicating in regional languages and the role Mirchi can play in crafting and disseminating such advertising campaigns

• Mirchi Play has 18 online stations in the landing page of Gaana app

• Mirchi continues to have the largest social media footprint amongst private FM players

• Mirchi’s YouTube Network crossed 13mn subscribers during the quarter.

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Strategy : Three Pivots

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All content
Programming
Solutions
Revenue All
platforms
Radio
Platform
FCT
15
FM
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MIRCHI DIGITAL

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Online Radio

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Genre Based
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• •Melodies/ Bollywood/ Retro/ Indies/ Unplugged/90s/ Club/ English Hits

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Theme Based
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• •Toota Dil/ Drive

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Regional
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• •Tamil/ Telugu/ Punjabi/ Kannada/ Bengali

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City Centric
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• •Mumbai/ Delhi

Mirchi streams 18 online radio stations;

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Best Performing posts (Organic)

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Reach – 2,71,457 Impressions – 2,75,927 Interactions – 9,774

Reach – 2,27,931 Reach – 3,97,538 Impressions – 2,75,927 Impressions – 2,33,779 Impressions – 2,97,538 Interactions – 9,774 Interactions – 1,587 Interactions – 1,556 Covered wide variety of mix of formats like Prank skits, celeb birthdays and Cricket

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MULTIMEDIA SOLUTIONS

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100 Pipers – Play for a cause’ enters Limca book of records 2020-22 edition

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108 celebrated musicians and bands to generate awareness about 15 adopted causes across 108 ground locations in 27 cities. All the 108 gigs in 108 locations were done concurrently on the . same day and at the same time between 8-10pm

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Tata Intra

Badlo Soch Ka Gear, Badlegi Zindagi Ka Safar

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RJ-Led videos – Over 1.6M views across platforms.

RJ’s did 18 Vlogs narrating an inspiring story of Tata Intra owners

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+Fortified – Thoda Aur!

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Celebrity Sangram Singh and Mirchi influencers from 10 different cities came together and shared their “Thoda aur” mantra across TV, Instagram and radio to propagate this ideology of ‘Thoda Aur’.

Digital Reach: 9.5 Million.

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IDFC First Bank – Zyaada Monthly Kamaai

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Digital Reach - As per today’s tally (Insta + FB) Views – 370600, Likes – 8699, Comments – 718

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To build brand awareness for IDFC First Bank’s unique product offering things that collectively interest TG was

• Zyaada Monthly Kamaai

• Gold Update, Stock Update, MT20

• 45 Vlogs with RJs on their SM pages

• 6 digital videos in a fun animated format

• Additional video of an outdoor activity around an OOH innovation for the campaign

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ORIGINAL CONTENT

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Cook with Kadhal - Mini Web Series launched in TamilNadu

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• Mirchi Originals created its 1[st] mini web series with the most trending couple in Television Actor Sid & Actress Shreeya.

• The series reached 7 lacs plus views (organic) with just 2 episode released till now.

• The 1st episode was launch by Actress Shreeya along with 10 listeners selected by Mirchi running a Radio contest, having a huge response both in Radio and SM pages.

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Impact Properties

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Mirchi Khanak Hamari Hai

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• Olympic IP across the country targeting 63 markets

• Thought: Cheer for Team India

• Anthem and gratitude song launch for the property

• Trivia on Olympics

• RWA Activity to cheer for India wishes

• Print

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IP- Mirchi Live Product Launch with Dealers TAIGUN

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Chandigarh Roadshow X Mirchi Live with Simran Kaur Mundi
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• Mirchi Element – Influencers and showstoppers for the car launch for limited dealers in the City

• Creative Show Flow of the event and managing the artists

• Launch in Chandigarh, Chennai & Delhi

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Mirchi LIVE Virtual R&R Event

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– Bank of Baroda R&R Summer Heats Live performance by Shillong Chamber Choir 5[th] Consecutive Virtual Event executed for the Brand

Adani electricity Virtual R&R Live performance by Raju Srivastav & Himani Kapoor • • Mirchi Made a song for Adani & shot it with their • 5[TH] employees at the plant •

Mirchi LIVE Virtual R&R executed for Bank of Baroda.

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Mirchi Marketing & Social Initiatives

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Mirchi New B2B Campaign

ከዚህ በፊት ምንም ሬዲዮ ያልሄደበት

“Where no Radio has gone before”

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Teaser – Intriguing copy

• Chinese, Korean, Arabic and Amharic teaser ads

• Targeting the business & marketing community via The Economic Times & Brand Equity + LinkedIn

Reveal – Proudly “hyper Local”

• Highlight Mirchi’s reach of 50 Mn+

• Across 63 cities in 13 languages

• Via radio, digital and on ground

• Bespoke creative

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Mirchi Tree Idiot

• Season 6 of Mirchi Tree Idiot "Greenery nu Vaavaazodu" was to beat the aftereffects of Cyclone Taukate.

• Mirchi Dhvanit and other jocks from Gujarat aimed at cover restoring the green destroyed

• by the recent cyclone.

• 15 days of heavy digital promotions and Radio led to 70K+ tree saplings requests

• CM of Gujarat, Shree Vijay Rupani, also welcomed the campaign with his congratulatory video for team Mirchi.

• Mirchi Tree Idiot for the first time ever was executed in Bhopal, Nagpur & Indore.

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• Deepika Padukone Surprises Mirchi RJ Ridhi – Bengaluru M95

• Hyderabad L&T Metro QR Code Branding

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• Mirchi Ridhi spoke about her mental health journey on the sets of KBC-13 which was televised on Sep 10, 2021.

• Ridhi was surprised by the presence of Deepika, who was her idol, as she battled through this phase

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• 6 month deal of logo presence on the back of the QR code ticket – 3.6 MN

• Spread across all major metro stations – Kakkatpally, Ameerpet, Panjaguptta, HiTech City, Raidurg & Begampet.

• Will help to increase frequency awareness and brand recall among travellers who typically are office goers

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MIRCHI International

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Mirchi USA

Mirchi Launches a Telugu station, dedicates it to Tollywood music lovers in USA

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• Launched an unique online Telugu station Mirchi Telugu exclusively for the Telugu music lovers.

• The shows on this station will be hosted by popular RJs.

• The station will be unique and different from other online stations, and it will sound exactly like mainstream terrestrial radio.

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Mirchi USA

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Marketing activities and Sponsored activations !

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Mirchi Jaan-E-Jigar

Mirchi Karega Bandhan Pura

Mirchi celebrated the friendship week in a fun way. This activity garnered good response and received more than 44 stories on social media in just a day

This Rakhi festival became more special for siblings to giveaway Bikano hampers to the siblings who shared Khatti Meethi Namkeen stories. Lucky winners could also send gifts to their brother and sister living in India, courtesy Gift 2 India and Malabar diamonds. With more than 200 sibling stories, this activity became a big hit.

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Mirchi UAE

Marketing Activities and Sponsored activations!

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Mirchi Saved By the Bell

This was a TSL building activity aimed at parents for back-to-school season. In the contest hour, people were asked to text in when ever they heard a school bell ring on air (Between songs). The selected listeners were taken on air, and they got 20 secs to answer 1 question from a school subject of their choice to win Skechers shoes for their kids

Traffic Song + Bell Bottom exclusive Premiere show

Breakfast RJ Varun Dhawan continues to amaze Dubai with his Traffic Songs - The songs are based on local traffic hot spots, digital trends & special days. He makes 6-7 such videos every month. It’s a one of kind take on Traffic!

Mirchi tied up for an exclusive Movie Premiere of “Bell Bottom”

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Mirchi Bahrain

Marketing activities and sponsored activations!

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Azadi Express

Mirchi Mic Ka Jackson

On 75th Indian Independence Day, Mirchi took the listeners on a virtual tour across India. Bahrain RJs daily connected with a RJ from Kashmir to Kerala and spoke about regional specialties. This activity culminated with an Indian food festival at one of the biggest supermarket in Bahrain

Mirchi conducted a talent hunt in July, aiming to provide a platform for Bahrain’s youth to channel their inner talent and give them a chance to become a Mirchi RJ or start a new-age career with our content team. More than 50 people participated

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MirchiOne Qatar

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Azadi Express

This Independence day activity (same as Bahrain) became the biggest On Air and On Ground Activity for Qatar station till date. It featured some prominent personalities of Qatar like Indian Ambassador to Qatar and President of Indian Cultural Centre. On- ground finale was conducted at one of the biggest sports academy in Qatar with over 100 attendees.

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INVESTOR CONTACT

Entertainment Network is committed to improving its performance every fiscal and continuously enhance shareholder value through successful implementation of its growth plans. The Company’s investor relations mission is to maintain an ongoing awareness of its performance among shareholders and financial community. This update covers the company’s financial performance for Q2FY22

We thank you for your support and welcome your feedback and comments regarding this update and other investor issues

For further information please contact:

N. Subramanian, ED & Group CFO, ENIL

Mb: +91 98927 65555; Email: n.subramanian@timesgroup.com

Kailash Yevale, Adfactors PR

Tel: +91 (22) 67574444 ; Email: kailash.yevale@adfactorspr.com

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Disclaimer

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in our business segments, change in governmental policies, political instability, legal restrictions on raising capital, and unauthorized use of our intellectual property and general economic conditions affecting our industry. ENIL may, from time to time, make additional written and oral forward looking statements, including our reports to shareholders. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.

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THANK YOU

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