Touchwood Entertainment Ltd. the Only Listed Event Company to Raise up to 50 Cr for Expansion
by Madiha Khan Marketing | November 4, 2019 | Press Release
Touchwood Entertainment Ltd. (NSE: TOUCHWOOD), the only listed and leading event management company, announces its results for the six months ending September 30, 2019.
H1 FY2020 Performance Highlights:
Total Income of Rs. 876 lakhs, a decline of 14.7%
EBITDA of Rs. 173 lakhs, a growth of 61.4%
EBITDA margins increased from 10.4% in H1 FY2019 to 19.7% in FY2020
PBT of Rs. 140 lakhs, a growth of 94.4%
PAT of Rs. 88 lakhs, a growth of 83.0%
PAT margins increased from 4.7% in H1 FY2019 to 10.0% in H1 FY2020
Commenting on the performance, Mr. Manjit Singh, Chairman, and Managing Director said, "I am pleased to report that Touchwood has delivered a robust performance in the first half of the fiscal year. This is in line with our strategy, as we are focused on organizing niche, large scale events that have resulted in enhanced margins and improved overall profitability.
We are in a constant endeavour to keep our commitment to the Shareholders and with the strong first half-year performance, the Board has recommended a dividend of Rs. 0.20 per share, a pay-out of 23%.
The management team is fully committed to developing Intellectual Properties, which will set the company on an elevated growth path in the coming years. Therefore, the company is planning to raise equity capital of up to Rs. 50 Crores to fund the expansion plans. We will continue to focus on our core strength of organizing successful events globally and looking forward to starting our journey as an NSE mainboard listed entity".
H1 FY2020 Operational Performance:
Gourmet Entertainment Show (IP)
Event was successfully held at Convention Centre in Gurgaon on 1 & 2 August 2019
India’s only experiential showcase platform of F&B, Weddings and Events
4000+ attendees, 1000+ HNIs and 50+ well renowned artists were present
500+ high profile wedding and event planners and 35+ high profile caterers and wedding designers were also in attendance
Total Events Conducted
Total 70 events were conducted in H1 FY2020
International events in countries like Turkey, Batam Islands, Dubai, Thailand, Africa, Sri Lanka
Weddings for HNI Clients in India
High level production for Exhibitions including International clientele
High profile events related to Artist Management – International artists like Boney M, PHA, Shadow & innovative acts from around the world, Germany, UK, Ukraine etc.
Touchwood delivered strong H1 FY2020 performance, registering EBITDA and PAT Growth of 61% and 83% y-o-y, respectively