Questions across 31 calls

Jinesh Joshi

PL Capital

Lemon Tree Hotels Limited

Lemon Tree Hotels Limited CC-Mar25.pdf · 2025-05-30

Thanks for the opportunity, sir. I just have one bookkeeping question on debt reduction which was at about Rs. 190 crore in this year. However, if I look at our standalone debt, the reduction is about Rs. 70 odd crore whereas our standalone PAT number is relatively flat on a YOY basis. Just wanted to understand how the apportionment of repayment happens between the standalone and the consolidate entity, g iven the fact that Aurika resides in Fleur and considerable cash flow generation will happen at the consol level. So just wanted some clarity on this.

Yes.

Indian Railway Catering And Tourism Corporation Limited

Indian Railway Catering And Tourism Corporation Limited CC-Mar25.pdf · 2025-05-29

Thanks for the opportunity. Sir, our catering revenue was flat in this quarter. I believe due to Mahakumbh, we should have got an additional boost because a lot many special trains were being run. And if I 'm not mistaken, some additional Bharat Gaurav trains were also being run. So in that context, why is the revenue flat? If you can just explain the reasons behind that?

Sure. And sir, I mean, we recorded an exceptional gain of about INR45 crores in this quarter. And I think some INR40 crores pertains to some one time reconciliation of the legacy business. I think that is what is stated in your footnote. So can you please explain what does this exactly pertain to?

Indian Railway Catering And Tourism Corporation Limited CC-Dec24.pdf · 2025-02-11

Sir, I want to understand how launch of Swa Rail is likely to impact our business. Now what I understand is that this app is developed by CRIS and every online transaction basically will be routed through our booking engine which effectively means that there is no loss of business for us. But what I want to know is how will CRIS benefit out of this? I mean, do we have to pay any share to them fro m the convenience fee that we earn? Or will they take an additional fee over and above what we charge from the consumer to make money? So just some clarification on that side.

Perfect. And we don't have to share any quantum with them, right?

InterGlobe Aviation Limited

InterGlobe Aviation Limited CC-Mar25.pdf · 2025-05-21

Yes. Thanks for the opportunity. I think you mentioned that we redelivered about 8 aircraft, 8 damp lease aircrafts in 4Q. And I think more 5 are to be redelivered in April. But if I look at our aircraft engine, these rental costs, it has increased by about INR 64 crores. Perhaps this could be due to the escalation in wet lease rentals. So how should we think about this cost going ahead? Is it that the benefit of lower AOG, which was in 40 s, as you mentioned in your commentary, will be eaten away by the higher wet lease rentals going ahead? So, your thoughts on that?

Understood. Sir, one last bookkeeping question from my side. I think the capitalized operating lease liability is up by about 10%. That is what we have stated in the PPT. And we have inducted about 67 aircraft if I compare it with March '24. Now historically, when the number was slightly lower in terms of aircraft induction, the addition to the operating lease liability number was a bit high. So, just wanted to check, has there been any change in the capitalization method, I just thought of asking, because the share of finance lease is rising and over here the full value of the aircraft basically gets capitalized. So, what are your thoughts on that?

PVR INOX Limited

PVR INOX Limited CC-Mar25.pdf · 2025-05-12

Sir, I just want 1 clarification. I mean, out of the 100 to 110 screens that we plan to open in FY '26, how many of them will be on FOCO model because ultimately, those screens will not be consolidated into our P&L, and the actual opening number could be slightly lower. So can you just share the FOCO count for FY '26?

Got that. And sir, one bo okkeeping question. So while our other income is about 40% in this quarter, and we have stated in the footnote that it is predominantly due to income from distribution of movies like Sky Force, et cetera. But if I look at our move distribution and print cost, that is down 10% Y -o-Y. So can you please explain the reason behind the cost reduction when the income is up quite substantially?

PVR INOX Limited CC-Sep24.pdf · 2024-10-15

Sir, I have a bookkeeping question. So if I remember right, our contract with BMS ended some time back. And now I believe the convenience income is variable in nature and ideally it should move in tandem with the box office performance, if I'm not mistaken . Now in this quarter, we saw a 25% fall on a Y -o-Y basis in our net box office collection, but the convenience income was down by only 5%. So has there been any revision in rates with BMS this time around?

Got that. Sir, second bookkeeping question is on the rent expense, which is flat on a Y-o-Y basis despite a 2% increase in the weighted average screen count. So if you can share the reason behind it? And also our film hire cost is down on Y -o-Y basis. So has there been any change in terms of our agreement with the distributors during the quarter? And the related follow -up is that for re-releases, do we pay a similar film hire cost? Or is it a bit lower?

Zee Entertainment Enterprises Limited

Zee Entertainment Enterprises Limited CC-Mar25.pdf · 2025-05-08

Yes. Sir, my question is on the other expense run rate of this quarter. So, if I look at the number, it is at about INR 87 crores. And historically, the run rate has been in the band of about the INR 130 crores to INR 150 crores. So just wanted to understand whether there is an element of one of which you would want to call out.

Can you call out the number? Is it possible?

Zee Entertainment Enterprises Limited CC-Dec24.pdf · 2025-01-23

Sir, my question is on the RIO copy that we have filed recently, it appears that in some markets like Hindi, Marathi, Bangla, etc., the bookie prizes have been revised downwards. So, just wanted to know the reason behind it, given the fact that in some of these genres like for example Hindi we launched about three new shows in the last quarter, and even in this quarter’s PPT we have some new content come up. Even in Marathi and Bangla recent quarter PPT, in fact , we have some new content coming up. So, basically, this indicates that the monetization potential for these genres is good going ahead given new content is lined up. So, in that context, I mean, why is the pricing being revised downwards?

I was just comparing the RIO copy that we filed recently with the earlier version.

DOMS Industries Limited

DOMS Industries Limited CC-Dec24.pdf · 2025-02-04

Thanks for the opportunity. Sir, I have a question on our hygiene business. I think we have started exports in this quarter. So can you highlight which geographies are we targeting explicitly and what is the opportunity size here? Also in terms of margins, do they materially differ between exports and domestic markets? So Yes, just some update on that. And also given the fact that this will be a overseas of what should I say venture for us , would it require creating a new network from scratch, your thoughts on that?

Got that. Just wanted to -- Yes, sorry, please go ahead.

DOMS Industries Limited CC-Sep25.pdf · 2024-11-11

Sir, one observation on our distribution mix. So if I look at our distribution count or rather the distributor count, it stands at about 4750, which is similar to what it was in the previous quarter, but if I look at our retail touch points, it has increased by about 10,000 to 1,35,000 touch points. So if you can explain the reason behind this and the quantum appears to be quite big, if I talk about the sequential increase, so any thoughts on that?

Any specific geography that we have targeted because 10,000 appear to be quite big if I looked at the last 4-5 quarters or rather 3-4 quarters?

Chalet Hotels Limited

Chalet Hotels Limited CC-Dec24.pdf · 2025-01-30

Sir, I have a bookkeeping question. After the debt repayment that happened sometime back, I think our finance cost has settled in the band of about 30 crores-odd in the first 2 quarters, but if I look at the 3Q run rate, the cost has shot up to about 45 cr ores. If you can just explain the reason behind this, given debt repayment happened. And also, how should we foresee the run rate going ahead?

Got that. And secondly, I mean, if I look at the Bangalore market, our ARR growth was about 30%-odd in this quarter. So if you can highlight, what led to such a sharp surge? And also secondly, I think, on the Trivandrum hotel, while we have not committed o n the time line, can you just confirm whether that INR20 billion capex number that you have guided for the next 3 years does anything with respect to Trivandrum is included in that number?