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UTV Software
Company is in to high growth entertainment business of– TV Broadcasting, TV
Content development, Movie Production & a very niche and high margin
business of developing – Console Games for PS3 & Xbox platforms and Mobile
& Online gaming development
Promoted by Rohinton Screwala & jointly owned by Walt Disney which owns
50.4% stake right now. Ronnie owns 19.6% stake in company, but has option to
buy back 19% stake from Walt Disney in next two years at around Rs.900/- or
so [which can increase Ronnie’s stake to 38% and reduces Walt Disney’s stake
to 32%]
Most exciting future is Gaming business, where company has three console
based games ready to be launched, each of these IP owned games can fetch
significant revenues and profits
Based on significant improvements seen in all segments of the business. We
expect company to report consolidated EPS of Rs 32/- in FY 11 & Rs.52/- in FY
12. We have a target of Rs 1040 for 12 months
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