Entertainment Network (India) (ENIL) Q4 20/21 earnings summary

Executive summary

• FY21 results were severely affected by COVID-19; total income fell to ₹29,117.52 lakh from ₹56,153.32 lakh and consolidated net loss was ₹11,050.31 lakh.

• Strategy shifted beyond radio: solutions and digital expanded in strategic importance, with a digital-first transition and owned web/app platforms planned.

• Mirchi reached 63 hyperlocal markets and an estimated 100+ million listeners/viewers monthly across platforms.

Financial highlights

• Consolidated revenue from operations was ₹27,208.84 lakh vs ₹54,814.36 lakh; total income was ₹29,117.52 lakh vs ₹56,153.32 lakh.

• Consolidated EBITDA was ₹3,519.95 lakh vs ₹13,873.55 lakh; loss before exceptional items and tax was ₹8,293.43 lakh vs profit of ₹1,508.05 lakh.

• Consolidated net loss was ₹11,050.31 lakh vs profit of ₹1,071.21 lakh; diluted EPS was (₹23.18) vs ₹2.25.

• Standalone revenue from operations was ₹26,681.72 lakh vs ₹54,059.28 lakh; standalone net loss was ₹10,926.71 lakh vs profit of ₹1,455.76 lakh.

• H2 EBITDA profit was ₹48.4 crore, following H1 EBITDA loss of ₹32.2 crore; Q3 and Q4 EBITDA profits were ₹24.4 crore and ₹24.0 crore.

Outlook and guidance

• FY22 recovery was expected to be delayed by one quarter after the second COVID wave; a stronger H2 recovery was anticipated if restrictions eased.

• Digital products were expected to rise from 12% of revenue in FY21 to nearly 25% by FY25.

• Over 3–5 years, digital and solutions were expected to exceed half of revenue combined, with each contributing an equal share; FM radio was expected to grow more slowly.

• Plans included launching a proprietary podcast platform and building owned web/app platforms to capture customers and advertising inventory.