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<ul><li><keyword id="141413" type="General" weightage="20" keywordseo="zee-entertainment-enterprises" source="Orion">Zee Entertainment Enterprises</keyword> has released its quarterly earnings report.</li><li>As per the report, the giant's network share has increased to 17.7%.</li><li>It reported a 187% rise in consolidated net profit at Rs 270 crore for the quarter ending September 30, 2021.</li></ul>Zee Entertainment Enterprises Limited (<keyword id="353090" type="General" weightage="100" keywordseo="zeel" source="Orion">ZEEL</keyword>) has released its quarterly earnings report. As per the report, the entertainment giant's network share has increased to 17.7% and ZEE5 MAUs have gone up by 13 million to 93.2 million from Q1’22. It has reported a 187.3% growth in profit after tax (PAT) on a year-on-year basis at Rs 270.2 crore. <div type="twitter" handle="punitgoenka" handlename="Punit Goenka" image="http://pbs.twimg.com/profile_images/1296998849660293120/aW7KZfw-_normal.jpg" favoritecount="28" retweetcount="4" status="ZEEL’s Q2FY22 Results:A quarter of recovery &amp; revival, dom. ad rev grew YoY &amp; QoQ by 20.1% &amp; 18.9% resp. |14.9% YoY… https://t.co/71QLPvOOC8" createdat="1636634340000" id="1458776269806444545"></div> After two slow quarters, Domestic Ad revenues grew both YoY &amp; QoQ by 20.1% % &amp; 18.9% respectively, while revenue grew but Q2 continued to be partially impacted by Covid in the first half of the quarter. Internationally, the network collected Rs 487 million in advertising revenue and closed the quarter with Rs 878 million subscription revenue. <div type="image" title="zeel ad revenue" msid="87650283" hostid="261"></div> <keyword id="3415325" type="General" weightage="20" keywordseo="zee-studios" source="Orion">ZEE Studios</keyword> is planning to release a strong slate of movies across Hindi, Tamil, Telugu, Marathi and Punjabi languages for H2FY22 and is confident that opening of cinemas across the country to boost prospects of theatrical revenue in the second half of the fiscal. <keyword id="3186290" type="General" weightage="20" keywordseo="zee-music-company" source="Orion">ZEE Music Company</keyword> witnessed 60%+ YoY in YouTube video views and added ~1mn subscribers on YouTube in Q2. With 78mn+ subscribers, it is the second most subscribed Indian music channel on YouTube. ZEEL’s streaming platform, ZEE5’s Q2 Revenues stood at Rs.1,305mn, up 17% sequentially and EBITDA* at Rs 1,720 million. Its average watch time per viewer per month goes down from 190 minutes in Q1 to 186 minutes in Q2. It released 13 original shows and movies released during the quarter. <div type="Article" hostid="261" msid="85100569" title="COVID-19’s second wave impacts ZEEL’s margins for Q1’FY22; domestic ad growth stands at -22.7% than 2020" mstype="2" mssubtype="0"></div>

ZEEL’s ad revenue sees an uptick by 20.1% in Q2FY22; PAT rises 187.3% to Rs 270.2 crore

<ul><li>With lockdowns in most states, ZEE's TV viewership jumped again during the quarter, though lower than Q1 of last year.</li><li><keyword id="353090" type="PERSON" weightage="20" keywordseo="Zeel">ZEEL</keyword>'s OTT platform ZEE5 closes the quarter with an average watch time of 109 minutes per viewer per month.</li></ul>ZEEL has released its quarterly earnings report. As per the report, second COVID wave reversed the strong recovery the group witnessed in H2FY21. Domestic ad revenues for both Q1FY22 and Q1FY21 were impacted by lockdowns. However, the impact this year was much lower, reflected in 127.9% YoY growth. Compared to Q1FY20, domestic ad revenues were lower by 22.7%. <div type="image" title="zeel revenue" msid="85101065" hostid="261"></div> This increase in marketing cost on a YoY basis is on account of the release of Radhe and continued investments in ZEE5. Marketing costs in Q1FY21 was lower on account of much lower original content production. ZEEL’s broadcast business network share dropped due to lockdown disruption and soft performance in some markets. On the other hand, its TV viewership again jumped during the quarter, though lower than Q1 of last year. ZEEL’s OTT platform, ZEE5 gains its momentum again on the back of an expansive content catalogue. It closed June with 80.2mn global MAUs, 7.1mn global DAUs and 190 minutes average watch time per viewer per month. ZEE5’s Q1 Revenue and EBITDA (loss excludes costs incurred by the business on ZEEL network) stood at Rs.1,117mn and Rs. (2,033mn). The platform released 11 original shows and movies released during the quarter. <keyword id="3186290" type="PERSON" weightage="20" keywordseo="Zee-Music-Company">ZEE Music Company</keyword> added ~3mn subscribers on YouTube. With 75mn+ subscribers, it is the second most subscribed Indian music channel on YouTube. To keep the ball rolling, ZMC is ramping up its content library by adding movies across Hindi, Tamil, Telugu, Marathi and Punjabi languages starting H2FY22.

COVID-19’s second wave impacts ZEEL’s margins for Q1’FY22; domestic ad growth stands at -22.7% than 2020

<ul><li>ZEEL's domestic advertising <keyword id="45663" type="ORGANIZATION" weightage="20" keywordseo="Revenue">revenue</keyword> for Q3FY21 grew by 7.5% YoY and 43.6% QoQ.</li><li>Its international ad revenue and <keyword id="2212194" type="PERSON" weightage="20" keywordseo="subscription-revenue">subscription revenue</keyword> stood at Rs 577 million and Rs 1091 million respectively.</li><li>Its domestic subscription revenues reported a growth of 18% including revenue from its music business which has been reclassified as subscription revenue in this fiscal.</li></ul><keyword id="1417408" type="COMPANY" weightage="20" keywordseo="Zee-Entertainment-Enterprises-Limited">Zee Entertainment Enterprises Limited</keyword> announced that its domestic advertising revenue for Q3FY21 grew by 7.5% YoY and 43.6% QoQ. This sharp recovery post H1 is a reflection of a resurgence of consumer demand and spending, the broadcaster said in its statement. Its international ad revenue and subscription revenue stood at Rs 577 million and Rs 1091 million respectively. Its domestic subscription revenues reported a growth of 18% including revenue from its music business which has been reclassified as subscription revenue in this fiscal. Comparable growth of 9.3% in the domestic business was driven by both television and <keyword id="6245082" type="COMPANY" weightage="20" keywordseo="ZEE5">ZEE5</keyword>. ZEEL's all India viewership share stood at 18.2% in Q3. The network also launched 2 new channels – Zee Zest and Zee Vajwa, taking the network channel count to 47. ZEE5 global's MAUs and DAUs stood at 65.9 million and 5.4 million respectively in Dec’20 and it released 7 movies on ‘Pay Per View’ model. The report also stated that while its share is back to pre-COVID levels, overall network share has seen a decline due to FTA channels losing share and decline in the overall Hindi movie genre.

ZEEL's domestic ad revenue for Q3FY21 grew by 7.5% YoY

New Delhi, Nov 25 () Media mogul Subhash Chandra has resigned as chairman of his flagship company Zee Entertainment Enterprises Ltd (ZEEL), with immediate effect.
 While accepting his resignation, the board said this is in line with the Sebi Listing Regulations that prohibit chairperson of the board from being related to the managing director or the chief executive officer of the company, ZEEL said in a regulatory filing on Monday.
 The firm also said its board has been reconstituted and three new independent directors R Gopalan, Surendra Singh and Aparajita Jain have been appointed in lieu of two independent and one nominee directors of Essel Group, promoter of Zee Entertainment.
 The reconstituted board consists of six independent directors and two members from the Essel Group.
 "The reconstitution of the board was to strengthen and induct independent members with varied experiences to build value and provide a strong signal to the existing and new institutional investors who have recently reposed their faith in the intrinsic value of the company, by investing Rs 4,770 crore," ZEEL said in a regulatory filing.
 In September, the group had sold 11 per cent stake in ZEEL to Invesco-Oppenheimer fund for over Rs 4,224 crore and then retired debt worth Rs 4,000 crore.
 Atlanta-based Invesco already held 7.74 per cent stake in ZEEL since 2002.
 Chandra will remain the company's non-executive director, which he founded in 1992, it added.
 "The board accepted his resignation and noted that this is in line with the requirements of Regulation 17(IB) of SEBI Listing Regulations, which inter alia mandates that the chairperson of the board shall not be related to the managing director or the chief executive officer of the company," the firm said.
 His resignation comes at a time when debt-ridden Essel Group is looking to further divest promoters' stake in the company to repay the debts.
 Promoter and promoter group shareholding in the company went down to 22.37 per cent in the quarter ended September 30, from 35.79 per cent in the quarter ended June 30.
 The Subhash Chandra-led cash-starved Essel Group on November 20 said it is planning to sell 16.5 per cent stake in its flagship ZEEL to financial creditors to meet its loan repayment obligations.
 In a related development, ZEEL's board also accepted the resignation of two independent directors Neharika Vohra and Sunil Sharma, with effect from November 24 as part of the process.
 It has also accepted the resignation of its company secretary M Lakshminarayanan and appointed Ashish Agarwal.
 "In view of changes in the promoter shareholding in the company and reconstitution of the board (being intimated separately), M Lakshminarayanan, has resigned as chief compliance officer and company secretary and the key managerial personnel of the company, with effect from the close of business on November 25, 2019," it said.
 Gopalan, 67, is a former bureaucrat and the country's former finance secretary. While Surendra Singh, 63, is a retired police officer and Aparajita Jain, 39, is a contemporary art professional.
 "The board also intends to onboard members who would bring additional skill sets including digital transformation," said ZEEL adding the reconstituted board "conducted their first meeting today, which was chaired by Gopalan".
 ZEEL has reported a revenue of Rs 6,857.86 crore for 2018-19. KRH RKL HRS

Subhash Chandra resigns as chairman of Zee Entertainment Enterprises

<ul><li>The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Thursday, tracking weak cues from the global markets as negotiations continue to drag over the stimulus package in the US. The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr></tbody></table>*as of October 22, 09:55 am These are the top stocks in news today. Zee Entertainment Enterprises (ZEEL) up over 2% The shares of Zee Entertainment Enterprises (ZEEL) gained over 2%, a day after the company unveiled a major strategic restructuring to focus on revenue maximisation and foray into newer territories. Vedanta shares gain 3% Vedanta shares trade 3% higher ahead of the board meeting, which is scheduled to meet on October 24 to consider and approve the first interim dividend for FY21. GMM Pfaudler trades 1% higher Even in the volatile market, the shares of GMM Pfaudler were trading one percent higher. The company has reported a 29.14% jump in its consolidated net profit to ₹26.85 crore for the second quarter ended September 30. KPIT Tech shed over 3% The software technology company KPIT Tech shed over 3% after the company reported a 2.5% fall in its net profit to ₹27.8 crore for the quarter ended September 30. JK Tyre shares gain 6% The shares of tyre major JK Tyre gained over 6% during the morning trade on Thursday after the company reported strong QoQ growth in Q2. The company reported a net profit at ₹109.68 crore against the loss ₹204.17 crore in the first quarter. Bajaj Finserv trades 2% higher The shares of private lender Bajaj Finserv rose over 2% after it reported a 5.8% jump in its total income to ₹15,051.59 crore during the second quarter ended September 30. However, its consolidated net profit fell 18% to ₹986.29 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/former-tesla-cio-raises-150-million-for-his-saas-automotive-retail-startup-enters-the-unicorn-club/articleshow/78800958.cms" data-type="tilCustomLink">Former Tesla CIO raises $150 million for his SaaS automotive retail startup, enters the unicorn club</a> <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Top stock movers — Vedanta, JK Tyre, GMM Pfaudler, Bajaj Finserv, Wipro, HCL Tech, Dr Reddy and others

<ul><li>ZEE's domestic ad revenue for Q4FY21 grew by 8.9% YoY.</li><li>It posted a declined by 19.7% in its domestic ad revenue in FY21 owing to the pandemic. </li><li>The network reported a consolidated net profit of Rs 272.36 crore for Q4FY21.</li></ul><keyword id="141413" type="COMPANY" weightage="20" keywordseo="Zee-Entertainment-Enterprises">Zee Entertainment Enterprises</keyword> (ZEE) has posted a declined by 19.7% in its domestic ad revenue in FY21 owing to the pandemic. However, its domestic ad revenue for Q4FY21 grew by 8.9% YoY driven by the continued recovery in macro advertising environment. The network has reported a consolidated net profit of Rs 272.36 crore for the quarter ended in March 2021. Zee's ad revenue from international markets stood at Rs 52.6 crore, whereas its subscription revenue stood at Rs 55.3 crore. Its network share improved to 18.9%. <keyword id="6245082" type="UNKNOWN" weightage="20" keywordseo="ZEE5">Zee5</keyword>, which released over 75 originals in FY21 saw its Q4 revenue and EBITDA stand at Rs 107.5 crore and Rs 162.5 crore. While the resurgence in <keyword id="8764262" type="COMPANY" weightage="20" keywordseo="covid">COVID</keyword> cases impacted <keyword id="3415325" type="COMPANY" weightage="20" keywordseo="zee-studios">Zee Studios</keyword>' near-term plan of movies business, it has a strong slate of movies across languages in FY22. The increase in COVID cases and lockdown guidelines will have a bearing on Zee Studios’ release plans, the report revealed. Meanwhile, <keyword id="2272480" type="PERSON" weightage="20" keywordseo="Zee-music">Zee Music</keyword> saw 50%+ YoY growth in YouTube video views. Zee Music added 4 million subscribers on YouTube and with 72.8 million subscribers, it is currently the second most subscribed Indian music channel on YouTube.

ZEEL witnesses a decline of 19.7% in its domestic advertising revenue in FY21 due to the pandemic

New Delhi, Jan 21 () Media and entertainment firm Zee Entertainment Enterprises on Tuesday reported a 38 per cent fall in its consolidated net profit for October-December quarter at Rs 348.60 crore, mainly on account of decline in advertising revenue.
 The company had posted a net profit of Rs 562.76 crore in the same period a year-ago, Zee Entertainment Enterprises Ltd (ZEEL) said in a filing to the BSE.
 Its total income stood at Rs 2,119.60 crore during December quarter as against Rs 2,252.75 crore in the corresponding quarter last year. 
 "Third quarter is normally a strong growth period for us, however, the tough macro-economic environment led to a decline in our ad revenues," ZEEL MD and CEO Punit Goenka said.
 Most of our advertisers are going through a slow growth period and that has led to a cut in advertising spends, he added.
 "I believe that the worst phase is behind us and we will start seeing an improvement from the next quarter," Goenka said.
 Despite the slowdown, the company continues to make investments in businesses where it sees potential for growth, he added.
 ZEEL's advertisement revenue during the third quarter declined to Rs 1,230.82 crore from Rs 1,426.57 crore a year ago, the company said.
 Shares of Zee Entertainment Enterprises on Tuesday closed 4.86 per cent higher at Rs 283.95 per scrip on the BSE. AKT RVK

Zee Entertainment Enterprises Q3 net profit dips 38 pc to Rs 348.60 cr

<ul><li>Gearing up for the festive season, <keyword id="353090" type="General" weightage="100" keywordseo="zeel" source="Orion">ZEEL</keyword> has lined up to launch 40 fiction, 20 non-fiction new shows across multiple languages</li><li>It has also announced its new bouquet pricing in compliance with NTO 2.0</li></ul><keyword id="381258" type="General" weightage="20" keywordseo="zee-entertainment-enterprises-ltd-" source="Orion">Zee Entertainment Enterprises Ltd.</keyword> (ZEEL) has released its <keyword id="12335972" type="General" weightage="20" keywordseo="new-a-la-carte-channel" source="Orion">new a-la-carte channel</keyword> and bouquet pricing in line with the Bombay High Court order dated 30.06.2021 with regard to <keyword id="7275030" type="General" weightage="20" keywordseo="new-tariff-order" source="Orion">New Tariff Order</keyword> (NTO) 2.0. The said pricing is being released without prejudice to ZEEL’s rights and contentions under all petitions pending adjudication before Supreme Court w.r.t. New Tariff Order (NTO) 2.0. ZEEL currently has 67 channels that come in 11 languages. With a pan India network encompassing a weekly reach of 606 million viewers and weekly consumption of 163 billion+ minutes*; it has one of the highest viewership bases across Hindi and regional language markets, including Marathi, Bangla, Kannada, Telugu, Tamil, Malayalam, Bhojpuri, Odia, Punjabi and English in the GEC, movies, news, music, lifestyle and HD genres. Speaking about the new channel pricing, <keyword id="281749" type="General" weightage="20" keywordseo="rahul-johri" source="Orion">Rahul Johri</keyword>, President – Business, South Asia, Zee Entertainment Enterprises Ltd. said, “ZEEL’s unparalleled success is an outcome of its strong bond with viewers spread across India and the deep relationship it has built with the entire stakeholder community. These extraordinary partnerships have led to our leadership across multiple markets for nearly three decades. We will continue to create value for the entire ecosystem by presenting the most entertaining and highest quality content, enriching national and regional channels and through innovative solutions for revenue monetization. We are confident that post implementation of NTO 2.0, ZEE channels will continue their growth momentum across markets and create higher value for the company.” Commenting on the announcement, Atul Das, Chief Revenue Officer – Affiliate Sales, said “At ZEEL, we are committed to providing the best entertainment to our consumers. The new pricing regime in 2019 brought in a major shift in the way television was consumed in India. On one hand, it brought in transparency about MRP of channels, while on the other hand it offered freedom to consumers to select channels they wish to watch. With NTO 2.0, consumers will get even more flexibility in selection of channels. We will continue to provide multiple bouquets to consumers across the country at different price points. Premium English channels like Zee Café and &amp;flix will continue to be available in a separate bouquet. Each bouquet constitutes a mix of channels, including GEC, movies, news, music and lifestyle genres. We look forward to working with our Distribution Platform Operators (DPO) partners for a smooth transition.” Currenlty, ZEEL produces 419 hours of new content every week on an average. Gearing up for the festive season, it has lined up to launch 40 fiction, 20 non-fiction new shows across multiple languages. It will also present 40 World Television Premieres across its channels over the next few months.

ZEEL announces new a-la-carte channel and bouquet pricing in compliance with New Tariff Order

New Delhi, Nov 26 () Two asset management companies -- ICICI Prudential Mutual Fund and HDFC Mutual Fund -- on Tuesday said they have received payments to the tune of Rs 437 crore from Subhash Chandra's Essel Group.
 Individually, ICICI Prudential MF has got Rs 270 crore as repayment and interest from the Essel Group, while the same for HDFC MF has been pegged at Rs 167 crore.
 With this repayment, ICICI Prudential Mutual Fund's exposure to Essel Group has come down to nil.
 "Pursuant to the sale of shareholding by the promoters of ZEEL, ICICI Prudential Mutual Fund has received repayment of the total principal amount invested along with the accrued interest thereon. Subsequently, as on date, none of the schemes of ICICI Prudential MF have any investments in debt instruments issued by the promoter group companies of ZEEL," the fund house spokesperson said.
HDFC MF said that the company holds certain non-convertible debentures (NCDs) of the Essel Group that are secured by a pledge of listed equity shares. The carrying value of these NCDs as at September 30, 2019 was Rs 275.63 crore.
 "The company has received a total of Rs 166.86 crore towards part repayment of the said NCDs and interest thereon, from the issuer through sale of certain listed equity shares comprising part of the collateral. The value of the residual pledged listed equity shares as at November 25, 2019 is Rs 143.95 crore," the fund house informed the stock exchanges.
 On Monday, Subhash Chandra resigned as chairman of his flagship company Zee Entertainment Enterprises Ltd (ZEEL) with immediate effect. He will remain the company's non-executive director, which he founded in 1992.
 His resignation came at a time when the debt-ridden group is looking to further divest promoters' stake in the company to repay the debts
 Essel Group on November 20 had said it is planning to sell 16.5 per cent stake in its flagship ZEEL to financial creditors to meet its loan repayment obligations.
 In September, the group had sold 11 per cent stake in ZEEL to Invesco-Oppenheimer fund for over Rs 4,224 crore and then retired debt worth Rs 4,000 crore.
 Atlanta-based Invesco already held 7.74 per cent stake in ZEEL since 2002.
 Promoter and promoter group shareholding in the company went down to 22.37 per cent in the quarter ended September 30, from 35.79 per cent in the quarter ended June 30. SP SHW
SHW

ICICI Pru MF, HDFC MF receive payments from Essel Group

<ul><li>ZEEL has launched a new Music Channel called <keyword id="9936704" type="PERSON" weightage="20" keywordseo="zee-vajwa">Zee Vajwa</keyword>. </li><li>Zee Vajwa, Kshann Gaajwa is its tagline.</li></ul><keyword id="141413" type="DOMAIN" weightage="20" keywordseo="Zee-Entertainment-Enterprises">Zee Entertainment Enterprises</keyword> Limited (ZEEL) has announced its entry into the <keyword id="9936703" type="UNKNOWN" weightage="20" keywordseo="regional-music-space">regional music space</keyword> with the launch of its <keyword id="9936705" type="UNKNOWN" weightage="20" keywordseo="marathi-music-channel">Marathi music channel</keyword> – Zee Vajwa. The network has already captured 57% viewership share in Maharashtra with Zee Marathi, Zee Yuva and Zee Talkies. It will offer 3000+ playlists and a music++ experience for the viewer with many category firsts that amplify moments &amp; create various mahauls through the day. Speaking on the launch, Ashish Sehgal, Chief Growth Officer, ZEEL said, “As an organization, we have gained in both viewership &amp; revenue due to our diverse portfolio across markets. And, believe in constantly strengthening our product portfolio keeping the customer at the centre thereby adding value to all our stakeholders. Our dominant position across markets echoes our customer-centricity. Our growing viewership and revenue share in Maharashtra is a reflection of our successful journey so far. Our objective has always been to provide holistic surround to our consumer/customer &amp; in Maharashtra, with Zee Vajwa, we see an opportunity for us to not only strengthen our Music cluster but further gain viewership/revenue shares as well. We are excited to dial up the impact for advertisers this festive period.” Commenting on the much-awaited launch of its first regional music channel, <keyword id="3387826" type="COMPANY" weightage="20" keywordseo="Prathyusha-Agarwal">Prathyusha Agarwal</keyword>, Chief Consumer Officer, ZEEL said, “We win hearts across many Bharats by creating content brands that are deeply rooted in culture. All 4 regional channels that we launched last year broke into the top 3 in their respective categories within their launch month, with Zee Biskope rising to no. 1, and Zee Picchar &amp; Zee Punjabi in the top 2*. We are the undisputed leader in Maharashtra with our GEC and movie channels and the launch of Zee Vajwa will be a celebration of our intrinsic bond with every Maharashtrian family, through music. Music on TV is perceived to play a passive background role in the consumer’s life. But in a country like India, a song becomes a chartbuster when it becomes an integral part of a celebration – such as Ganpati Visarjan, sangeet ceremony, etc. Music becomes an active way to enjoy, express and celebrate, creating an amplified mahaul (ambience). This externalized and shared culture of music is at the core of Zee’s music channel positioning. With Zee Vajwa we promise to dial up every moment for our viewers with a music++ experience, so that they live life to the fullest.” Vishnu Shankar, Business Cluster Head, &amp;TV and Music cluster, ZEEL said, “We are extremely pleased to announce the launch of our first regional music channel, Zee Vajwa. Besides strengthening our regional portfolio, it is a great opportunity for us at ZEEL to offer content that connects so deeply with our consumers. Music has always been deeply ingrained in our Indian way of life and its traditions. To be able to offer a platform which allows our viewers to enjoy and connect over music that resonates with their specific culture and values, is deeply gratifying.” ZEE Vajwa promises an immersive visual experience never seen before in the regional music category with a design world inspired by the ‘volume dial’ that aptly brings alive our promise of ‘amplifying every moment’. Each element of the design – colors, characters, music symbols and our sonic identity have been created to ensure a deep-seeded connect with the youth while being culturally relevant. The channel will have a stellar programming line-up which will include 3000+ music playlists created with a strong library of songs. One of the key differentiators would be experiential music slots with several category firsts which will truly amplify the moment for the audiences. The Marathi viewer is extremely proud of their culture and the channel will celebrate it by giving the youth a platform to voice their opinions and be heard. A category first, Zee Vajwa will also have a non-fiction show in the comedy genre. The logo of Zee Vajwa was unveiled by Marathi film industry stalwarts -- <keyword id="1493322" type="PERSON" weightage="20" keywordseo="Swwapnil-Joshi">Swwapnil Joshi</keyword> &amp; Siddharth Jadhav during the prestigious Zee Chitra Gaurav Puraskar 2020. Zee Vajwa is set to launch this October.

Zee Entertainment Enterprises Limited launches Marathi Music Channel Zee Vajwa

New Delhi, Dec 22 () Zee Entertainment on Sunday clarified that all its television channels in Tamil Nadu are fully operational across leading cable and DTH operators.
 No changes have been made in the consumer price (MRP) of the individual channels or channel packs whatsoever, Zee Entertainment Enterprises Ltd (ZEEL) said in a statement.
 "The viewers have expressed their disappointment for not being able to view their favourite ZEE Channels, despite having paid for the same. Zee Entertainment Enterprises Ltd (ZEEL) wishes to clarify that all of its television channels in Tamil Nadu are fully operational across leading cable and DTH operators, including Tamil Nadu Arasu Cable TV Corporation Ltd, SCV and V K Digital," it said.
 The channels are also available across all leading DTH operators viz. Airtel Digital TV, Tata Sky, Dish TV, d2h, and Sun Direct, it said adding there has been no change in the consumer price (MRP) of the individual channels or channel packs whatsoever.
 Zee Prime Tamil SD pack, competitively priced at Rs 10 only, is the best value pack in Tamil Nadu market, when compared to other similar bouquets available in the same market.
 ZEEL has issued all the required communications to its esteemed viewers informing and urging them to approach their respective cable operators with a request to reactivate the channels, for which they have already paid Rs 10, as part of their monthly subscription, it said.
 "This communication is purely issued in the interest of all our viewers, since ZEEL has received several complaints and requests through emails and social media platforms, wherein the consumers have mentioned that their cable operators have removed the ZEE Bouquet from their channel packs, without any communication or reason," the statement said. ABI MKJ

Zee Entertainment says all channels 'fully operational' in Tamil Nadu

<ul><li>Advertisement growth typically returns with a lag to economic growth. </li><li>Increased spend towards movie and OTT content to arrest declining market share.</li></ul>As per <keyword id="46252" type="PERSON" weightage="20" keywordseo="Motilal-Oswal">Motilal Oswal</keyword> Institutional Equities, <keyword id="10213964" type="UNKNOWN" weightage="20" keywordseo="Zee-Entertainment-and-Enterprises-Ltd">Zee Entertainment and Enterprises Ltd</keyword> revenue declined by 19% YoY (in-line) as ad revenue fell 26% YoY. “We have revised up ad revenues by 6%/6% for FY21/FY22E on better revenue visibility. But, we reduce revenue estimates from other sales divisions, maintaining our overall FY21/FY22E revenue. EBITDA remains unchanged, with increased content cost toward: a) movie/OTT, to arrest the decline in market share in key markets b) high inventory unwind, offset by lower other operating expenses. Thus, we factor in a 14%/22% EBITDA / adj. PAT CAGR. Maintain Neutral, with TP of INR 190,” read its press statement. Ad revenues remain weak Zee’s consolidated revenues declined 19% YoY to INR 17.2b (in-line). Advertisement revenues declined 26% YoY to INR9b on account of a drop in ad spends due to the impact of COVID-19. On the other hand, subscriptions grew by 11% YoY to INR8b on the inclusion of music revenue in the Subscription segment. Hence, on a like-to-like basis, domestic subscriptions grew 2.3% YoY, primarily driven by growth in ZEE5 subscription revenues. Zee’s total operating expenses were flat YoY at INR14b – as programming resumed in a staggered manner across regions – including a one-time provision toward subscription receivables of INR812m. EBITDA thus declined 55% YoY to INR3.1b. (20% miss), with margins of 18.2% (32.7% in 2QFY20). Zee took one-time provisions of INR812m toward receivables from Siti Networks. Adjusted for a one-off, EBITDA increased 43% YoY to INR3.9b, with a 22.9% EBITDA margin. Additionally, it incurred: a) Exceptional items of INR970m toward provisions of receivables from Siti Networks – as ZEE has provided corporate guarantees b) FV loss of INR207m – due to a change in the market price of redeemable preference shares. n Reported PAT declined 77% YoY to INR942m (est. PAT of INR2.5b), and adj. PAT (for exceptional items) declined 70% YoY to INR1.7b Highlights from management commentary Subscription growth in FY21 is expected to fall short v/s higher expectancy by the management earlier, while ad revenues should normalize by 3QFY21 and may grow from 4QFY21. n Margin trajectory may return to normal by FY22E and ZEE5 is expected to achieve breakeven by FY24E. ZEE’s investment in SugarBox would depend on the upcoming contract from the Railways, to be received by SugarBox. n Inventory and advance deposits dropped to INR60b in Sep’20 from INR64b in Mar’20. Valuation and view Advertisement growth typically returns with a lag to economic growth. Furthermore, the risk of margin pressure remains from over INR1.9b quarter loss in OTT investments, along with increase programming cost towards: a) high inventory unwind and b) increased spend toward movie and OTT content to arrest declining market share. However, since FY20, management has highlighted that it remains highly committed to bringing in a) increased governance and higher transparency toward investment in financial assets and working capital and b) high governance standard, including a robust and independent board. “We remain watchful of the evolving business situation and governance measures, including the admission of new board members over the next few months and increasing financial disclosures for investors. We maintain our FY21/FY22E revenue and EBITDA estimates. Thus, we factor in a 14%/22% EBITDA / adj. PAT CAGR. The stock trades at 12.5x FY22E EPS of INR15; we value ZEE at 13x FY22E EPS, thus maintaining our Target Price at INR190. Maintain Neutral,” read the statement.

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