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Cineline India Ltd.

BSE: 532807 Sector: Media
NSE: CINELINE ISIN Code: INE704H01022
BSE 00:00 | 02 Dec 113.25 -4.10
(-3.49%)
OPEN

116.55

HIGH

119.00

LOW

112.50

NSE 00:00 | 02 Dec 113.15 -3.35
(-2.88%)
OPEN

117.00

HIGH

118.60

LOW

112.10

OPEN 116.55
PREVIOUS CLOSE 117.35
VOLUME 15248
52-Week high 174.75
52-Week low 84.15
P/E
Mkt Cap.(Rs cr) 357
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 116.55
CLOSE 117.35
VOLUME 15248
52-Week high 174.75
52-Week low 84.15
P/E
Mkt Cap.(Rs cr) 357
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Cineline India Ltd. (CINELINE) - Chairman Speech

Company chairman speech

THE COMEBACK STORY

Dear Shareholders

FY 2021-22 has been an extraordinary year marked by unprecedentedchallenges caused by the COVID-19 pandemic supply chain disruptions and geopoliticaltensions due to the prolonged Russia-Ukraine war and high inflationary pressures.

We continue to work towards keeping MovieMax at the top of the mind forour consumers when it comes to watching movies in India. I am extremely bullish on theprospects of the business and firmly believe that the best is yet to come.

The Indian economy has demonstrated its strong fundamentals in theworld. A lot of credit goes to the Government for the incredible work in keeping theIndian economy buoyant alongside effectively handling the COVID-19 crisis. Rapidvaccination of the population along with sustained fiscal and policy interventionsimproved consumer sentiments.

We took a landmark step on April 1 2022 as we made a powerful comebackin the movie exhibition business with the launch of MovieMax. Post the pandemic we seehuge opportunities in the film exhibition space and intend to aggressively grow thisbusiness. We have already tied up with 101 screens with over more than 22600 seats.

Company has raised capital of ' 25.50 crores through allotment of2097902 equity shares to an investor entity and allotment of 1468532 convertiblewarrants to the members of the promoter group of the Company both on preferential basisin order to increase penetration and acquire more screens. The members of the promotergroup exercised the option of conversion of warrants on May 9 2022 and paid the balanceamount. We are focusing on Tier II and III cities due to lack of entertainment avenuesespecially multiplexes in these regions.

As we came out of the third wave of the COVID-19 pandemic wesignificantly ramped up our operations as audiences came back to theatres.

As operations returned to normalcy with the removal of restrictions aninflux of a steady flow of content and consumers renewing their big screen moviegoingexperience we witnessed a strong bounce back in the film exhibition industry. The pace ofrecovery of admissions once new content was released post the second and third wavesexceeded our expectations. Big budget Bollywood releases like Pushpa RRR and KGF 2 wereblockbuster hits and garnered significant global box office collections. And with theexcellent content lineup for the rest of the year we hope that this momentum wouldcontinue.

Going forward with multiple holiday weekends like Independence DayDussehra Diwali and Christmas there are huge expectations from forthcoming releasessuch as Jugjugg Jeeyo Laal Singh Chaddha Raksha Bandhan Ek Villain Returns ShamsheraLiger Brahmastra Vikram Vedha horror comedy Bhediya Shehzada Cirkus etc. In additionto big Bollywood releases we also saw successful mid-sized Bollywood movies released inthe past few months such as Jersey Runway 34 Jayeshbhai Jordaar and Anek.

Much interestingly regional movies are breaking the geographical andlanguage barrier by being dubbed in multiple regional languages and connecting toaudiences pan-India. Huge proliferation of OTT platforms and the subsequent consumption offoreign and regional content on these platforms over the past two years is a welcome move.

Our total revenue on a consolidated basis during FY 2021-22 stood at '5013.69 lakhs as against ' 5440.80 lakhs in FY 2020-21 registering a de-growth of7.85%. EBITDA for the year stood at ' 1648.66 lakhs compared to ' 3782.92 lakhs in theprevious year. Loss after tax stood at ' 3546.41 lakhs in FY 2021-22 vis-a-vis ' 478.64lakhs in FY 2020-21.

Our aim is to grow pan India and create a strong consumer-orientedbrand in the cinema space. We have also set plans to monetize our non-core business toreduce debt and become an asset- light company. We intend to become a prominent player inthe film exhibition industry with an ambitious target to add 300 screens by FY 2024-25 andcontinue our growth momentum.

We continue to work towards keeping MovieMax at the top of the mind forour consumers when it comes to watching movies in India. I am extremely bullish on theprospects of the business and firmly believe that the best is yet to come.

I would like to take this opportunity to thank our Board members andour stakeholders for their constant support and guidance. I also express my gratitude toour dedicated employees for their relentless hard work and contributions in our journey oftransformation and quest to scale the next level of growth.

Regards

Rasesh Kanakia

Chairman

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