Date and Context
• Date of Call: May 8, 2024
• Submission Date: May 14, 2024
• Participants: Chairman Kumar Taurani and CFO Haresh Sedhani
• Focus: Financial results for Q4 and FY24
Financial Performance
• Revenue: INR 76.6 crores for FY24 (26% increase from FY23)
• Challenges: Underperformance of the film "Merry Christmas"
• Future Plans: Aim to release at least three films in the upcoming year
Discussion on "Merry Christmas"
• Comments: Positive reviews but poor marketing cited as a factor for underperformance
• Response from Taurani: Adequate promotion; past experiences show critical acclaim does not guarantee box office success
• Financial Impact: No major losses incurred; 25% write-off of production costs
Funding and Investment Strategies
• Promoter Investment: Plans to invest INR 200-300 crores over the next few years
• Profit Expectations: Targeting INR 30-40 crores in profit by increasing film releases from 4 to 8-10 annually
Upcoming Projects and Revenue Goals
• Project Status: Film with David Dhawan scheduled for October 2025; updates on "Soulmates" and "Kolhapur to Pattaya"
• Revenue Target: INR 150-200 crores with a 25-30% profit margin
Accounting and Revenue Models
• Capital Infusion: Addressed inquiries about accounting for capital infusion
• Revenue Sharing: No current models with actors, but open to future arrangements
• Music Rights: Primarily working with Tips Industries; may consider other music houses
OTT Rights and Film Success Factors
• OTT Rights Sale: Can occur before or after theatrical release; "Merry Christmas" rights sold prior to release
• Success Factors: Quality and audience reception are crucial, regardless of budget
Conclusion
• Final Remarks: Thanks to management and participants; emphasis on enhancing film output and maintaining revenue targets.

Tips Films Limited Q1 FY24 Earnings Conference Call Summary
Overview
• Date of Call: July 31, 2023
• Submission Date: August 7, 2023
• Revenue: Rs. 66 lakhs
• Loss: Rs. 183 lakhs
• No films released during the quarter
Management Insights
• Chairman Kumar Taurani:
• Emphasized annual comparisons for performance evaluation.
• Aims for 5-6 film releases annually within two years.
• Profit guidance of Rs. 30 crores for FY24.
• Ongoing projects: "Ishq Vishk Rebound" and "Merry Christmas."
• CFO Haresh Sedhani:
• Discussed conservative accounting policy post-demerger.
Financial Projections
• Projected revenue for FY24: Rs. 130-140 crores.
• Revenue recognition from "Gaslight" confirmed for the current quarter.
Production and Risk Mitigation Strategies
• Strategies to mitigate production risks:
• Pre-selling films.
• Collaborating with stars for funding.
• Negotiation process for selling film rights to OTT platforms and television.
Film Production Goals
• Target of 10-12 films annually over the next few years.
• Mix of theatrical and OTT films, including regional content.
Film Library Monetization
• Rights to 50 films acquired during the split from Tips Industries.
• Films fully written off in terms of inventory costs.
• Expected annual revenue from digital and satellite deals: Rs. 20-25 crores.
• Contracts for film rights typically last 1-3 years.
Market Demand and Challenges
• High demand for films produced since the mid-90s with an 85-90% success ratio.
• Digital platforms more lucrative for new releases; satellite deals better for older films.
• Importance of retaining music rights highlighted.
Industry Dynamics
• Government subsidies for filming locations and supportive regulatory changes.
• Limited number of releases attributed to the complexity of film development.
Future Plans
• Aim to produce 2-3 Bollywood films and an equal number of regional films annually.
• Exploration of Marathi and Gujarati cinema.
Marketing Strategies
• Focus on securing digital, satellite, and music rights before theatrical releases.
• Growing demand for content due to the influx of OTT platforms.
Additional Inquiries
• Ongoing script development for web series.
• Collaborative talent selection based on script.
• Clarification on the impact of Bollywood songs played at weddings on revenue.
Conclusion
• The call concluded with thanks from the moderator and management.

Conference Call Details
• Date: June 5, 2023
• Event: Submission of earnings conference call transcript
• Key Executives Present:
• Chairman: Kumar Taurani
• CFO: Haresh Sedhani
• Call Date: May 30, 2023
Financial Highlights
• FY '23 Performance:
• Produced three movies, including "Gaslight"
• "Gaslight" revenue: Rs. 61.44 crores
• Profit After Tax (PAT): Rs. 24.33 crores (39% margin)
• Q4 FY '23 Results:
• Revenue: Rs. 31.66 crores
• PAT: Rs. 2.71 crores
Future Projections
• FY '24 Targets:
• Revenue goal: Rs. 125-150 crores
• PAT margin: 25-30%
• Upcoming Releases:
• Plans to release 4-5 movies, including three Marathi films and possibly one Hindi film
Accounting and Financial Policies
• Conservative Accounting Policy:
• 100% write-off of movie costs within 12 months of release
• Revenue Recovery Insights:
• OTT films: 25-35% margin
• Theatrical releases: 80-150% recovery of production costs
Cash Flow and Investments
• Cash Flow Outlook:
• Optimism for improvement due to upcoming releases
• Property Investments:
• Regular rental income of approximately Rs. 1 crore
• Market value of properties: Rs. 18 crores
Growth Outlook
• Year-on-Year Growth:
• Targeting a bottom line of Rs. 30-40 crores for FY '24
• Marketing Strategies:
• Collaborations with OTT platforms for promotions
Conclusion
• Engagement with Investors:
• Invitation for further questions and commitment to ongoing communication with investors.