Entertainment Network (India) Ltd — Interim / Quarterly Report 2021

Feb 11, 2021

INVESTOR UPDATE

==> picture [720 x 136] intentionally omitted <==

PERFORMANCE REVIEW: Q3 FY21 February 11, 2021

1

Presentation Path

 Financial Review

 Business Review

 Strategic Direction

 Investors Contact

==> picture [720 x 136] intentionally omitted <==

2

==> picture [720 x 135] intentionally omitted <==

Financial Review

==> picture [720 x 136] intentionally omitted <==

3

Condensed Statement Of Operations (Standalone)

==> picture [720 x 362] intentionally omitted <==

----- Start of picture text -----

%age of %age of
₹ In Millions Q3 FY21 Total Income Q3 FY20 Total Income [Growth (%)]
Income from Operations 841.1 99.6% 1,440.2 98.9% (41.6%)
Other Operating Income 3.7 0.4% 16.6 1.1% (77.7%)
Total Income 844.8 100.0% 1,456.8 100.0% (42.0%)
Operating Expenditure 635.5 75.2% 1,052.2 72.2% (39.6%)
EBITDA 209.3 24.8% 404.6 27.8% (48.3%)
Depreciation 106.5 12.6% 116.8 8.0% (8.8%)
Amortisation 133.4 15.8% 133.1 9.1% 0.3%
EBIT (30.6) (3.6%) 154.7 10.7% (119.8%)
Other Income 39.6 4.6% 29.0 1.9% 36.8%
Finance Cost 46.0 5.4% 47.0 3.2% (2.0%)
Exceptional items 267.1 31.6% - 0.0% 0.0%
Profit Before Tax (PBT) 230.1 27.2% 136.7 9.4% 68.3%
Taxation 62.9 7.4% 30.3 2.1% 107.6%
Profit After Tax (PAT) 167.2 19.8% 106.4 7.3% 57.1%
Other Comprehensive Income (net) (0.5) (0.06%) 0.3 0.0% (249.8%)
Total Comprehensive Income 166.7 19.7% 106.7 7.3% 56.2%
----- End of picture text -----

4

Financial Performance Q3FY21

(All comparisons with corresponding period of previous year)

• FCT revenue de-grew by 35.9% (Q3FY21) ; Sequential growth 83.3%

• Non-FCT

• Revenues de-grew by 54.7% (Q3FY21)

• Non-FCT Gross Margins @ 48.3% ; registers strong growth from Q3 FY20 : 35.3%

• Non-FCT EBITDA margin : 29.8% (Q3 FY20 : 16.8%)

• Revenue of Migrated stations (35) declined by 41.7% during the quarter

• Batch 1 revenues during the quarter : Rs.88.8 Mn ( 53.8%)

• EBITDA : Rs. 10.9 Mn (Q3FY20 : Rs.21.8 Mn)

• Batch 2 revenues during the quarter : Rs 46.0 Mn ( 1.2%)

• EBITDA : Rs 17.0 Mn (Q3FY20 : Rs. 4.2 Mn)

5

Financial Performance Q3FY21

(All comparisons with corresponding period of previous year)

• Reduction in Overall operating costs including DVC : 37.0%

• Post IPAB order dt Dec 31, 2020, the Company has reassessed its performance royalty liability. Writeback on account of reassessment Rs 267.1 Mn.

• In the Consolidated results, the Company has recorded an additional amount of Rs 26.1 Mn as exceptional item, in respect of fee received consequent to termination of arrangement with NJ broadcasting, a US based broadcaster.

• Covid-induced PDD as on Dec 31, 2020 : Rs 38.0 Mn

• Impact of IND AS 116 on PAT : Rs 11.6 Mn

• Net Cash as on Dec 31, 2020 : Rs 1.96 Bn

6

Condensed Statement Of Operations (Standalone)

==> picture [720 x 362] intentionally omitted <==

----- Start of picture text -----

YTD %age of YTD %age of
₹ In Millions Dec'20 Total Income Dec'19 Total Income [Growth (%)]
Income from Operations 1,657.8 98.8% 3,833.8 98.0% (56.8%)
Other Operating Income 20.0 1.2% 77.9 2.0% (74.4%)
Total Income 1,677.8 100.0% 3,911.7 100.0% (57.1%)
Operating Expenditure 1,755.6 104.6% 2,901.6 74.2% (39.5%)
EBITDA (77.8) (4.6%) 1,010.1 25.8% (107.7%)
Depreciation 320.2 19.1% 338.8 8.7% (5.5%)
Amortisation 398.7 23.8% 397.3 10.1% 0.4%
EBIT (796.7) (47.5%) 274.0 7.0% (390.8%)
Other Income 131.7 7.8% 91.7 2.4% 43.6%
Finance Cost 141.5 8.4% 139.6 3.6% 1.4%
Exceptional items 232.3 13.8% - 0.0% 0.0%
Profit Before Tax (PBT) (574.2) -34.2% 226.1 5.8% (354.0%)
Taxation (138.1) (8.2%) 59.0 1.5% (334.1%)
Profit After Tax (PAT) (436.1) (26.0%) 167.1 4.3% (361.0%)
Other Comprehensive Income (net) (1.6) (0.1%) (2.6) (0.1%) (38.9%)
Total Comprehensive Income (437.7) (26.1%) 164.5 4.2% (366.1%)
----- End of picture text -----

7

Condensed Statement Of Operations

(Consolidated)

==> picture [720 x 360] intentionally omitted <==

----- Start of picture text -----

%age of %age of
₹ In Millions Q3 FY21 Q3 FY20 Growth (%)
Total Income Total Income
Income from Operations 852.5 99.6% 1,466.6 98.9% (41.9%)
Other Operating Income 3.7 0.4% 16.7 1.1% (77.7%)
Total Income 856.2 100.0% 1,483.3 100.0% (42.3%)
Operating Expenditure 647.4 75.6% 1,070.4 72.2% (39.5%)
EBITDA 208.6 24.4% 412.9 27.8% (49.5%)
Depreciation 115.3 13.5% 130.8 8.8% (11.9%)
Amortisation 133.3 15.6% 133.1 9.0% 0.2%
EBIT (40.0) (4.7%) 149.0 10.0% (126.8%)
Other Income 40.7 4.8% 30.4 2.0% 33.9%
Finance Cost 46.9 5.5% 49.9 3.4% (6.2%)
Exceptional items 293.2 34.2% - 0.0% 0.0%
Profit Before Tax (PBT) 247.0 28.8% 129.5 8.7% 90.8%
Taxation 62.9 7.3% 30.5 2.0% 106.4%
Profit After Tax (PAT) 184.1 21.5% 99.0 6.7% 86.0%
Other Comprehensive Income (net) (1.1) (0.1%) 0.7 0.0% (254.2%)
Total Comprehensive Income 183.0 21.4% 99.7 6.7% 83.6%
----- End of picture text -----

8

Condensed Statement Of Operations (Consolidated)

==> picture [720 x 360] intentionally omitted <==

----- Start of picture text -----

%age of %age of
₹ In Millions YTD Dec'20 Total Income [YTD Dec'19] Total Income Growth (%)
Income from Operations 1,697.3 98.8% 3,885.2 98.0% (56.3%)
Other Operating Income 19.9 1.2% 77.9 2.0% (74.4%)
Total Income 1,717.2 100.0% 3,963.1 100.0% (56.7%)
Operating Expenditure 1,796.4 104.6% 2,939.5 74.2% (38.9%)
EBITDA (79.2) (4.6%) 1,023.6 25.8% (107.7%)
Depreciation 358.3 20.9% 375.6 9.5% (4.6%)
Amortisation 398.7 23.2% 397.3 10.0% 0.3%
EBIT (836.2) (48.7%) 250.7 6.3% (433.6%)
Other Income 144.1 8.4% 96.3 2.4% 49.5%
Finance Cost 146.6 8.5% 147.9 3.7% (0.9%)
Exceptional items 258.4 15.0% - 0.0% 0.0%
Profit Before Tax (PBT) (580.3) -33.8% 199.1 5.0% (391.4%)
Taxation (137.7) (8.0%) 59.7 1.5% (330.8%)
Profit After Tax (PAT) (442.6) (25.8%) 139.4 3.5% (417.5%)
Other Comprehensive Income (net) (2.1) (0.1%) (2.3) (0.0%) (6.0%)
Total Comprehensive Income (444.7) (25.9%) 137.1 3.5% (424.4%)
----- End of picture text -----

9

==> picture [720 x 135] intentionally omitted <==

Business Review

==> picture [720 x 136] intentionally omitted <==

10

Key Operating Highlights

• ‘ ’

• • After 19 the Iconic Radio Mirchi Brand has a years, undergone complete

• overhaul and has pivoted to just ‘ Mirchi’

• Re-entry in UAE in Q4 FY21 through Brand Licensing Agreement with ‘Dolphin Recording Studio LLC’

• Middle East Expansion : Planned Launch of Bahrain and Qatar station in Q4 FY21

• After discontinuation of ASA with TVTN, ENIL sells its own network of 73 frequencies in 63 cities

• Mirchi Play has 25 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 11.5mn subscribers during the quarter

11

Strategy : Three Pivots

All content

Programming

Solutions

Radio

==> picture [158 x 98] intentionally omitted <==

Revenue

Platform

All platforms

FCT

12

FM

==> picture [720 x 135] intentionally omitted <==

LAUNCH OF MIRCHI’s NEW LOGO

==> picture [720 x 136] intentionally omitted <==

13

Brand Change Brand Change

==> picture [720 x 136] intentionally omitted <==

Radio Mirchi has been rebranded as ‘Mirchi’

• A promotional song was released on Radio and Digital platforms, starring prominent artists like Darshan Raval, Raftaar & Armaan Malik.

• More than 5 lacs views were garnered in less than a month’s time.

• 23 social media stories came out including artists & artist’s fan-club reposts

14

Regional Versions launched with local RJs

==> picture [309 x 161] intentionally omitted <==

Telegu - https://youtu.be/6M1hCEdRb4w

==> picture [311 x 155] intentionally omitted <==

Kannada - https://youtu.be/DC4kmp4Mg0I

==> picture [720 x 136] intentionally omitted <==

Tamil - https://youtu.be/Oi3Tv2cXq88

Malayalam - https://youtu.be/mDmXUXdh9TI

15

95+ Media Coverag95+ Media Coverage – Online, TV & PrintOnline, TV & Print

==> picture [720 x 417] intentionally omitted <==

----- Start of picture text -----

Business
Insider
The
Drum
----- End of picture text -----

==> picture [12 x 9] intentionally omitted <==

----- Start of picture text -----

16
----- End of picture text -----

Song promotion via Instagram Influencers

==> picture [720 x 136] intentionally omitted <==

==> picture [720 x 136] intentionally omitted <==

17

==> picture [720 x 135] intentionally omitted <==

MIRCHI DIGITAL

==> picture [720 x 136] intentionally omitted <==

18

Online Radio

==> picture [205 x 356] intentionally omitted <==

==> picture [192 x 75] intentionally omitted <==

----- Start of picture text -----

Genre Based
----- End of picture text -----

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

• Toota Dil/ Drive

==> picture [192 x 75] intentionally omitted <==

----- Start of picture text -----

Regional
----- End of picture text -----

• Tamil/ Telugu/ Punjabi/ Kannada/ Bengali

• • Mumbai/ Delhi

==> picture [192 x 75] intentionally omitted <==

----- Start of picture text -----

City Centric
----- End of picture text -----

Mirchi now streams 25 online radio stations .

19

What Women Want - Season 3

==> picture [720 x 136] intentionally omitted <==

==> picture [720 x 136] intentionally omitted <==

15mn YouTube views; 4mn+ Social Media Views

20

TOTAL – Highway Adda

==> picture [107 x 106] intentionally omitted <==

CAMPAIGN

“Highway Adda” To Target Truckers and Farmers in 2 markets to build awareness about the product and developing database

CONCEPT

OBJECTIVE

A fun and comedy To build Top Of Mind radio show which recall for brand has entertainment To educate the TG and information about their products which is useful to a and develop database trucker and a farmer

21

==> picture [720 x 135] intentionally omitted <==

MULTI MEDIA SOLUTIONS

==> picture [720 x 136] intentionally omitted <==

22

Brother International

==> picture [131 x 390] intentionally omitted <==

==> picture [131 x 390] intentionally omitted <==

==> picture [385 x 275] intentionally omitted <==

Campaign for Brother International, which included a review video by Rajiv Makhani and ads placement on Jio Saavn

23

‘All Out’ - Pujo

==> picture [223 x 148] intentionally omitted <==

==> picture [238 x 148] intentionally omitted <==

==> picture [216 x 140] intentionally omitted <==

==> picture [238 x 163] intentionally omitted <==

7 videos,1 min each posted on influencers social media 1. Barkha Bisht Sengupta

1. Priyanka Sarkar

2. Koneenika Banerjee 4. Rituparna Sengupta 5. Arpita Chatterjee 6. Puja Banerjee 7. RJ Ayantika

3. Mirchi Bangla page

24

Imperial Blue

==> picture [720 x 136] intentionally omitted <==

==> picture [720 x 136] intentionally omitted <==

Promotion of brand through social media posts by RJs along with other on-air elements; Mirchi logo changed to blue for a day

25

Adani Ahmedabad Marathon 2020

==> picture [720 x 136] intentionally omitted <==

==> picture [720 x 136] intentionally omitted <==

Virtual marathon, one of its kind, where runners could choose their own track and city on the Main Marathon Day

26

Cardia Advanced Gingelly Oil

==> picture [491 x 278] intentionally omitted <==

Sketch video with Mirchi RJ Senthil and Actress Sreeja integrating the new launched product along with Promotion on Radio and Facebook

27

==> picture [720 x 135] intentionally omitted <==

ORIGINAL CONTENT

==> picture [720 x 136] intentionally omitted <==

28

Licensed Content

==> picture [250 x 337] intentionally omitted <==

----- Start of picture text -----

Marathi
----- End of picture text -----

==> picture [253 x 337] intentionally omitted <==

----- Start of picture text -----

Gujrati
----- End of picture text -----

Licensed two new shows to MX Player in October’20

29

==> picture [720 x 135] intentionally omitted <==

Impact Properties

==> picture [720 x 136] intentionally omitted <==

30

Mirchi Rock n Dhol

==> picture [157 x 195] intentionally omitted <==

==> picture [240 x 159] intentionally omitted <==

• .

==> picture [223 x 159] intentionally omitted <==

A nine-day Virtual extravaganza on Radio & Digital Unplugged Garba was played 9PM onwards everynight. Dhvanit interviewed prominent singers of Gujarat like Sachin-Jigar, Parthiv Gohil, Aishwarya Majmudar etc

31

Mirchi Konnect

==> picture [720 x 136] intentionally omitted <==

On ground event to spread awareness about health check ups and provide diet plans to the participants

32

Smule Kushir Pujo

==> picture [720 x 136] intentionally omitted <==

==> picture [720 x 136] intentionally omitted <==

Smule’s 15sec AV promoted on Youtube. Live sessions and posts on RJ’s Instragram Handles during festivities

33

Mirchi Shopping Carnival

==> picture [720 x 136] intentionally omitted <==

==> picture [720 x 136] intentionally omitted <==

Brands offered discount vouchers and schemes through the medium of radio and digital platforms of Mirchi

34

==> picture [720 x 135] intentionally omitted <==

Mirchi Programming & Marketing Activities

35

IIT Mumbai – Mood Indigo Official Media Partner

==> picture [720 x 136] intentionally omitted <==

• One of Indias’ most renowned entertainment festival, created their campus into a Virtual module for everyone to visit.

• Our new brand video and Logos got integrated in the app visited by over 25,000 college kids.

• Our jocks became celebrity judges for their Marquee inter college shows and competitions

==> picture [12 x 9] intentionally omitted <==

----- Start of picture text -----

36
----- End of picture text -----

Kolkata’s Power Play League Association

==> picture [380 x 299] intentionally omitted <==

==> picture [256 x 299] intentionally omitted <==

• An online trivia quiz, supported by Saurav Ganguly, based on cricket. Winners won prizes like iPhone 12 and even the chance to meet Saurav!

37

Srinagar- “Mirchi Gang of Girls”

==> picture [720 x 136] intentionally omitted <==

==> picture [720 x 136] intentionally omitted <==

With lockdown relaxation, Mirchi Gang of Girls rallied in Valley, gave a kickstart to the city. The city was abuzz with women drivers on roads. Around 50 women participated in this event. Activity concluded with a rally on the banks of Dal lake and covered by all major local media.

38

==> picture [720 x 135] intentionally omitted <==

Mirchi Social Initiatives

==> picture [720 x 136] intentionally omitted <==

39

Mirchi Dhopbaji – A cracker-free Diwali/Kali Pujo

==> picture [342 x 312] intentionally omitted <==

==> picture [282 x 169] intentionally omitted <==

==> picture [282 x 144] intentionally omitted <==

• Capsules/videos/quirky posters were made to urge people to not burst crackers during Diwali/ Kali Pujo.

• Mirchi Lajvanti's video reached 1M views; Other 8 videos reached 0.9M views.

40

Mass-k Awareness & Distribution - Ahmedabad

==> picture [720 x 136] intentionally omitted <==

==> picture [312 x 216] intentionally omitted <==

• Mirchi Ahmedabad joined hands with an individual who wished to distribute 11,000 N95 quality masks for free.

• We combined our expertise with his goodwill and supported the Mask Distribution drive.

• The drive got good coverage across TV, print and social media too.

41

Lions of Covid- Bengaluru

==> picture [642 x 317] intentionally omitted <==

• Mirchi 95, in association with the Bangalore Metro, BBMP & the Police Dept felicitated the health & the police officials.

• Rakhis were tied to many health workers by Mirchi RJs and a large mural was painted.

42

==> picture [720 x 135] intentionally omitted <==

MIRCHI USA

==> picture [720 x 136] intentionally omitted <==

43

Mirchi Malamaal

==> picture [720 x 136] intentionally omitted <==

An contest to receive maximum for consumers. engaging designed participation Everyday, the consumer has a chance of winning either gift or cash by just registering themselves.

This activity reached 1M listeners in Tri-State area and helped the listenership to grow by 25% and App downloads by 15%.

44

Jkyog Virtual Concert

==> picture [720 x 136] intentionally omitted <==

Mirchi tied up with Jkyog virtual live concert that had scintillating performances by Bollywood Stars Balraj Syal, Jyotica Tangri, Harry Ananad, Tushar Shetty, Tejas and others on the grand occasion of Diwali Gala 2020 and hosted by Karan Wahi. “Har entertainment mein mirchi campaign” tag was mentioned in the event.

45

Online listenership performance -USA

==> picture [500 x 276] intentionally omitted <==

Online listenership has been growing steadily, which has peaked at 3 lakh+ listeners in December’20.

46

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 Q3FY21

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

47

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.

48

==> picture [720 x 135] intentionally omitted <==

THANK YOU

==> picture [720 x 136] intentionally omitted <==

49