The June quarter was a stable one for Balaji Telefilms, but the higher base has impacted revenues. Group CEO Sameer Nair says the business is a little cyclical. But going forward, the company has a lot more TV shows lined up.
In terms of movie releases too, the year ahead is looking good for the company. "We have got three movies and one low-budget movie lined up for FY16," Nair told CNBC-TV18. The pipeline for movies, infact, is looking rather exciting for the next 2-3 years.
The company has recently been in the news for its split with Star Network. Star offloaded its entire stake of 25.99 percent stake in Balaji Telefilm through a block deal on Metropolitan Stock Exchange of India (MSEI). The deal was done at a discount, with an average price Rs 63.60 per share. Balaji promoters Ekta Kapoor and Shobha Kapoor, along with CEO Nair were among the buyers. Many believe the move was aimed at avoiding an open offer.
But Nair refutes the premise and says he has been buying stake as part of the management for some time now. "It is an ongoing process."
He also rubbished all rumours of the relationship between the company and Star going sour. According to him, it is just the function of how the business evolved. "Star has its own strategy of exiting minority investments. So Balaji was just one of them," he adds.Meanwhile, earlier today, the company also informed the stock exchanges about foraying to the digital content business segment through a wholly-owned subsidiary Alt Digital Media Entertainment.
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