Eros International Media is in focus as Eros International PLC will receive USD 100 million dollars through convertible notes and warrants. In an interview to CNBC-TV18, Jyoti Deshpande, MD & Group CEO of Eros International spoke about the same and the latest happenings in the company.
Deshpande said its USD 100 million convertible notes so it gives us amazing firepower and it complete refinances our existing revolving credit facility (RCF).
She further that it brings our net debt down significantly and that's fantastic for our balance sheet.
We will pay USD 53 million of revolving credit facility, she added.
Talking about business, she said we saw high budget releases last year but did not happen this quarter.
Eros Now continues to be a great area of growth for us. Currently we have 3.7 million paying subscribers and will have 6-8 million paying subscribers by end of FY18.
Therefore, we expect Eros Now to be able to generate revenue of USD 40 million by March 2018 compared to USD 15 million of revenue last year.
On margin front, she said margins improving due to profitability from small budget movies and margin improvement will continue.
We will be monetising company's movie library which has 10000 movies, added Deshpande.Watch accompanying video for more details.