The subsidiary owns and operates entertainment streaming platform ALTT, which was earlier known as ALT Balaji. The platform was launched in April 2017 as part of Balaji Telefilms’ expansion into the business-to-consumer segment.
Apart from the investments, Balaji Telefilms also provided loans, including interest accrued thereon, aggregating to Rs 103 crore. The company’s trade receivables outstanding stood at Rs 18 crore as of March 31.
The company also stated that ALT Digital Media Entertainment has been valued at Rs 1,209 crore, reflecting a 32% premium over its carrying cost, according to a valuation exercise conducted by Balaji Telefilms through one of the Big Four independent valuation firms.
It added that the premium highlights the impact of the strategic changes implemented by ALT Digital over the past year.
Reliance Industries owns a 24.82% stake in Balaji Telefilms, with Ektaa Kapoor and Shobha Kapoor holding 18.16% and 10.84%, respectively.As part of the strategic pivot, ALT Digital has undergone significant transformation, focusing on cost rationalisation, optimising staff levels and reducing cash burn.ALT Digital reduced its EBITDA losses to Rs 21 crore in 2023-24 from Rs 65 crore in 2022-23 and Rs 135 crore in 2021-22. The company had liquid cash investments of Rs 20 crore in mutual funds as of March 31.
While ALTT continues to follow the subscription model, the platform has also ventured into the advertising segment. The platform has an order book exceeding Rs 230 crore for producing web-series for leading OTT platforms and syndication or content licensing agreements in place for about Rs 100 crore.
Balaji Telefilms reported a 6% year-on-year increase in consolidated revenue for 2023-24 to Rs 625 crore. Its net profit for Rs 19 crore against a net loss of Rs 37 crore in the previous fiscal.
In February, the company approved the composite scheme of arrangement to merge ALT Digital and Marinating Films with parent Balaji Telefilms.
During the fiscal, ALTT launched 18 new shows, taking its digital library to 126 shows. The platform sold about 1.28 million new subscriptions during the year.
The company’s films achieved a combined box office revenue of Rs 212 crore in 2023-24, representing a 23% increase year-on-year. Dream Girl 2 and Crew garnered about Rs 100 crore in box office revenue. It released five films during the year – three theatrical releases and two OTT releases.
