Regd off: 4th flr.

, Matulya Centre, Senapati Bapat Marg, 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 Computer, 46, Avenue 4, St. No. 1, Banjara Hills, 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 10 295.2 -1.0 -38.6 NM 73.3 0.0 14,068.1 3.1 INE265F01028
SHAREHOLDING FX Transaction (FY08) ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters : 71.2% Exports (fob) Rs m 0
Foreign collaborators : 0.0% Imports (cif) Rs m 18 (Rs)
Indian inst/Mut Fund : 2.9% Fx inflow Rs m 1 720
FIIs/GDR : 19.6% Fx outflow Rs m 28
Free float : 6.4% Net fx Rs m -27
Shareholders : 20,184
565
No. of months 12 12 12
Year ending 31/03/06 31/03/07 31/03/08
EQUITY SHARE DATA
410
High Rs 287 355 700
Low Rs 218 161 307
Sales per share Rs 28.9 49.4 86.8
Earnings per share Rs 6.5 5.3 -3.6 255
Cash flow per share Rs 9.1 9.2 4.0 DAILY
Dividends per share Rs 0.00 0.00 0.00 100 DMA
Dividend yield (eoy) % 0.0 0.0 0.0
100
Book value per share Rs 55.8 61.3 92.5
Shares outstanding (eoy) m 47.56 47.58 47.66 Feb-06 Oct-06 May-07 Jan-08 Sep-08
Bonus/Rights/Conversions PI,CR ESOP ESOP
Price / Sales ratio x 8.7 5.2 5.8 No. of months 12 12 12
Avg P/E ratio x 38.6 48.7 -140.3 Year ending 31/03/06 31/03/07 31/03/08
CASH FLOW
P/CF ratio (eoy) x 27.6 28.0 125.0
Price / Book Value ratio x 4.5 4.2 5.4 From Operations Rs m 211 -214 -2,083
Dividend payout % 0.0 0.0 0.0 From Investments Rs m -2,517 -527 -496
Avg Mkt Cap Rs m 12,009 12,276 23,997 From Financial Activity Rs m 2,327 773 2,612
No. of employees `000 <500 1 1 Net Cashflow Rs m 20 31 34
Total wages/salary Rs m 274 447 667
Avg. sales/employee Rs Th 3,287.1 3,462.4 4,725.7 INTERIM RESULTS
Avg. wages/employee Rs Th 655.5 658.3 762.3 2QFY08 3QFY08 4QFY08 1QFY09
Avg. net profit/employee Rs Th 744.0 371.1 -195.4 Net sales Rs m 532 680 632 571
Gross profit Rs m 40 138 134 48
INCOME DATA Gross profit margin % 7.5 20.3 21.2 8.4
Net Sales Rs m 1,374 2,351 4,135 Net profit Rs m 7 80 71 1
Other income Rs m 16 35 128 Net profit margin % 1.3 11.8 11.2 0.2
Total revenues Rs m 1,390 2,386 4,263
Gross profit Rs m 393 435 321 KEY DATA
Depreciation Rs m 124 187 363 Parameters Unit FY06 FY07 FY08
Interest Rs m 26 40 268 Airtime Sales % of sales 84.5 70.4 54.0
Profit before tax Rs m 259 243 -182 Event Income % of sales 13.2 15.2 13.2
Minority Interest Rs m 0 0 5 Out of Home Media Income % of sales 1.2 13.4 32.0
Prior Period Items Rs m 0 0 0 Production Expenses % of sales 13.0 16.5 15.3
Extraordinary Inc (Exp) Rs m 98 0 0 License Fees % of sales 4.9 13.9 32.7
Tax Rs m 46 -9 -6
NOTES
Profit after tax Rs m 311 252 -171
Gross profit margin % 28.6 18.5 7.8 Entertainment Network India (ENIL), a part of the Times Group, is present in
Effective tax rate % 17.8 -3.7 3.3 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 % 22.6 10.7 -4.1
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 846 1,576 4,301 and international), Delhi Metro and Kolkata Metro. ENIL also operates in the live
Current liabilities Rs m 548 599 910 entertainment business and has the distinction of managing events like Filmfare
Net working cap to sales % 21.7 41.6 82.0 Awards, Femina Miss India Contest.
Current ratio x 1.5 2.6 4.7
Inventory Turnover Days 0 0 0 In FY08, the revenues increased by 76% YoY, whereas the company incurred a loss
Debtors Turnover Days 124 113 118 at the bottomline level consequent to its massive roll out plans. The topline grew due
Net fixed assets Rs m 2,403 3,025 3,182 to an increase in airtime sales and an increase in contribution from its subsidiaries.
Share capital Rs m 476 476 477 Radio Mirchi continues to be the number one player in Mumbai, Delhi and Calcutta.
"Free" reserves Rs m 2,174 2,430 3,927
ENIL is expected to continue to dominate the radio space as its programming is
Net worth Rs m 2,655 2,916 4,407 superior to that of its competitors. The radio industry, fuelled by the positive FM-II
Long term debt Rs m 350 750 780 Radio Policy is projected to grow from Rs 8 bn in 2008 to Rs 18 bn by 2012, implying
Total assets Rs m 3,551 4,626 7,513 a 24% compounded annual growth over the next four years as per the PWC report
Interest coverage x 11.0 7.1 0.3 on the Indian media sector. Driven by heavy infrastructure development, newer
Debt to equity ratio x 0.1 0.3 0.2 advertising sites such as flyovers, metro rails, airports have emerged, which should
Sales to assets ratio x 0.4 0.5 0.6 drive the growth of the out-of-the-home (OOH) advertising market in the future. A slow
Return on assets % 11.2 8.0 1.9 down in India's GDP growth will lead to a decline in the advertising revenues of ENIL.
Return on equity % 11.7 8.6 -3.9 The entry of new players in different cities may also lead to a decline in ENIL's market
Return on capital % 12.7 7.7 1.8 share.
Exports to sales % 0.0 0.0 0.0
Imports to sales % 0.1 3.8 0.4