Capacity

Mon-Thu
Lunch and Dinner
Rest of day
Movies/Shows
No. People served per movie
Total No. of People served
Fri-Sun
Lunch and Dinner
Rest of day
Movies/Shows
No. People served per movie
Total No. of People served

Revenue/week
Revenue/month
Revenue/year

Total Revenue

Wage Expense
Manager 4
Cook 3
Kitchen staf 8
Waiters/Hostess 12
Cleaners 6
Projectionist 1
Security 6

Total Payroll expense

Screen 1 Screen 2 Screen 3
60 60 100

30% 30% 40%

20% 20% 0%
8 8 3
30 30 40
240 240 120

100% 100% 100%

80% 80% 80%
8 8 8
108 108 180
864 864 1440
Total
1,656,000 1,656,000 4,680,000
6,624,000 6,624,000 18,720,000 31,968,000
79,488,000 79,488,000 224,640,000

383,616,000

Salary/staf/monthExpense/Staf/Year Total Expense

350000 4200000 16800000
150000 1800000 5400000
15000 180000 1440000
15000 180000 2160000
10000 120000 720000
15000 180000 180000
12000 144000 864000

27,564,000
 Timings Hours Screen 1 & 2 Movies
Lunch 12-3pm 3 2
Dinner 7-12pm 5 3
Rest 6 3

Revenue Expected per person including sales of wine and movie ticket
1,500.00
3,000.00

Average length of show

90 mins

Screen 3
For Mon-Thu 1 show lunch and 2 shows dinner
 Screen 3 shows
2
3
3

and movie ticket

Start-up Requirements

Expenses

Total cost of sales 153,446,400

Leasing or Revenue sharing 36,000,000

Insurance 280,884
Utilities 7,981,607

Marketing and sales 15,000,000

Payroll expense 27,564,000

Payroll taxes 4,134,600

One time expense

Legal and Attorney's Fees 1,000,000

Construction or Renovating cost 12,500,000

Consultants 1,000,000

Liquor License 1,000,000

Interior designing and decoration cost 5,000,000

Stationery and Office Supplies 500,000

Others 2,000,000

Long term assets

Projection system 1,000,000

Kitchen utilities 1,500,000

Seats & Sofas 5,000,000

Dolby sound system 1,500,000

Total start-up requirement 276,407,492

V
F
F
F
F
F
F
 2017 2018

Sales 383,616,000 498,700,800

Direct Cost of Sales 115,084,800 149,610,240
Food Expenses 38,361,600 49,870,080
Total Cost of Sales 153,446,400 199,480,320

Gross Margin 230,169,600 299,220,480

Gross Margin % 60% 60%

Expenses

Payroll 27,564,000 28,942,200

Sales and Marketing 15,000,000 7,500,000

Utilities 7,981,607.28 7,981,607
Insurance 280,884 280,884
Rent 36,000,000 36,000,000
Payroll Taxes 4,134,600 4,341,330
Other one time expense 23,000,000

Total Operating Expenses 113,961,092 85,046,022

Profit Before Interest and Taxes 116,208,508 214,174,458

EBITDA 116,208,508 214,174,458

Interest Expense 0 0
Taxes Incurred 34,862,553 64,252,338

Net Profit 81,345,956 149,922,121

Net Profit/Sales 21.21% 30.06%

Assumptions:
1 Consider direct cost of sales as 30% and food expenses as 10% of
2 Sales and Marketing expense as Rs 1,50,00,000 for first year and r
3 Utilities as 2% and insurance as 3% of sales
4 Payroll taxes as 15% and Efective corporate tax of 30%
5 Rent rate as Rs 150/sq.ft./month in Mumbai. For 20,000 sq.ft. rent a
 2019 % of sales

648,311,040 30%
194,493,312 10%
64,831,104
259,324,416

388,986,624
60%

30,389,310

7,500,000
7,981,607 2%
280,884 3%
36,000,000 3%
4,558,397 6%

86,710,198

302,276,426

302,276,426
0
90,682,928 30%

211,593,498
32.64%

xpenses as 10% of sales revenue

for first year and reduces by half and remains constant for proceeding years

20,000 sq.ft. rent as Rs 3,60,00,000 per year

Pro Forma Cash Flow
Year 1
Cash Received

Cash from Operating activities:

Sales 383,616,000
Total cost of sales expense 0
Operating expenses 0
Taxes 34,862,553
Net cash flow from operating activities 348,753,447

Cash from financing activities:

Startup expense -276,407,492
Initial funding sanctioned 280,000,000
Net cash flow from financing activities 3,592,508

Cash And Cash Equivalents Begin of Year 0

Cash And Cash Equivalents End Of Year 352,345,956
 Year 2 Year 3

498,700,800 648,311,040
199,480,320 259,324,416
85,046,022 86,710,198
64,252,338 90,682,928
149,922,121 211,593,498

352,345,956 502,268,077
502,268,077 713,861,575
 Year 1
Assets

Current Assets
Cash 352,345,956
Total Current Assets 352,345,956

Long-term Assets
Long-term Assets 9,000,000
Total Long-term Assets 9,000,000
Total Assets 361,345,956

Liabilities

Current Liabilities
Current Borrowing 0
Subtotal Current Liabilities 0

Long-term Liabilities 0
Total Liabilities 0

Equity

Paid-in Capital 280,000,000

Retained Earnings 81,345,956
Total Cumulative Earnings 81,345,956
Total Capital 361,345,956
Total Liabilities and Capital 361,345,956

Net Worth 361,345,956

 Year 2 Year 3

502,268,077 713,861,575
502,268,077 713,861,575

9,000,000 9,000,000
9,000,000 9,000,000
511,268,077 722,861,575

0 0
0 0

0 0
0 0

280,000,000 280,000,000
149,922,121 211,593,498
231,268,077 442,861,575
511,268,077 722,861,575
511,268,077 722,861,575

511,268,077 722,861,575
Valuation

Assumed sanctioned amount by investors

280,000,000

Assume stake is given to angel investor

49%

Pre money valuation of company

571,428,571.43

Total shares issued

1000

Share given to investors

490

Outstanding shares
510

After 3 years valuation

442,861,575

10X Return to the investor

YoY growth rate 41%

10X Return (years). Assuming complete dilution. 6.6

Break even sales

Fixed cost per month

7,580,091

Variable cost per month

12,787,200

Total sales per month

31,968,000
Break even sales = Total fixed cost / ((Total sales -Total variable cost)/Total sales)
12,633,485

Hence Break even point for the business is reached when the sales cross Rs 1,26

Average revenue per guest

2182

No. of guests required to breakeven per month

5790

or

No. of guests required to breakeven per day

193
Initial Share price
571,429

Cash inflow through financing activity from investor

280,000,000

291,428,571
variable cost)/Total sales)

en the sales cross Rs 1,26,33,485 on an average per month

INOX Leisure Previous Years
Standalone Balance Sheet ------------------- in Rs. Cr. ------------
Mar 16

12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 96.16
Total Share Capital 96.16
Reserves and Surplus 494.94
Total Reserves and Surplus 494.94
Total Shareholders Funds 591.1
Share Capital Suspense 0
NON-CURRENT LIABILITIES
Long Term Borrowings 216.93
Deferred Tax Liabilities [Net] 5.86
Other Long Term Liabilities 2.35
Long Term Provisions 7.78
Total Non-Current Liabilities 232.92
CURRENT LIABILITIES
Short Term Borrowings 25.13
Trade Payables 72.79
Other Current Liabilities 88.52
Short Term Provisions 16.43
Total Current Liabilities 202.87
Total Capital And Liabilities 1,026.89
ASSETS
NON-CURRENT ASSETS
Tangible Assets 619.91
Intangible Assets 28.71
Capital Work-In-Progress 55.73
Fixed Assets 704.35
Non-Current Investments 2.51
Long Term Loans And Advances 192.78
Other Non-Current Assets 12.81
Total Non-Current Assets 912.44
CURRENT ASSETS
Current Investments 15.09
Inventories 6.85
Trade Receivables 53.5
Cash And Cash Equivalents 26.89
Short Term Loans And Advances 10.67
OtherCurrentAssets 1.47
Total Current Assets 114.45
Total Assets 1,026.89
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 785.43
CIF VALUE OF IMPORTS
Raw Materials 4.41
Capital Goods 4.6
EXPENDITURE IN FOREIGN EXCHANGE
Expenditure In Foreign Currency 1.08
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency -
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods -
Other Earnings -
BONUS DETAILS
Bonus Equity Share Capital -
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value -
Non-Current Investments Unquoted Book Value 2.51
CURRENT INVESTMENTS
Current Investments Quoted Market Value -
Current Investments Unquoted Book Value 15.09
ious Years
------------ in Rs. Cr. -------------------
Mar-15 Mar-14 Mar-13 Mar-12

12 mths 12 mths 12 mths 12 mths

96.16 96.15 61.56 61.56

96.16 96.15 61.56 61.56
584.75 294.76 411.94 266.74
584.75 294.76 411.94 266.74
680.91 390.9 473.5 328.29
0 0 34.56 0

200.51 214.83 223.74 207.98

23.09 29 22.76 19.41
4.15 24.01 39.48 0.77
5.41 4.13 3.9 1.88
233.16 271.98 289.88 230.04

14.1 8.88 22.29 0

77.3 72.05 56.11 36.78
87.69 93.22 94.71 40.57
14.91 21.06 25.85 8.09
194 195.21 198.96 85.45
1,108.07 858.09 996.9 643.78

559.74 582.91 550.29 330.44

3.17 3.21 2.47 2.69
50.27 48.54 42.26 24.14
613.18 634.66 595.01 357.27
188.85 0.98 184.44 179.25
163.53 144.33 132.98 74.15
3.5 2.25 2.49 1.93
969.06 782.23 914.93 612.6

6.41 2.73 0.11 0

6.89 8.59 5.46 3.12
56.53 33.42 36.67 14.17
 12.18 16.56 23.33 7.14
55.24 12.76 13.74 6.29
1.75 1.81 2.66 0.47
139.01 75.86 81.97 31.19
1,108.07 858.09 996.9 643.78

348.22 403.93 116.84 174.01

2.61 2.63 0 0
0.41 15.19 76.03 0.39

0.3 0.2 0.35 0.08

- - - -

- - - -
- - - -

- - - -

- - - 265.22
188.85 0.98 184.44 0.46

- - - -
6.41 2.73 0.11 0
Profit & Loss account of INOX Leisure

INCOME
Revenue From Operations [Gross]
Revenue From Operations [Net]
Other Operating Revenues
Total Operating Revenues
Other Income
Total Revenue
EXPENSES
Operating And Direct Expenses
Employee Benefit Expenses
Finance Costs
Depreciation And Amortisation Expenses
Other Expenses
Total Expenses

Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax

Exceptional Items
Profit/Loss Before Tax
Tax Expenses-Continued Operations
Current Tax
Less: MAT Credit Entitlement
Deferred Tax
Tax For Earlier Years
Total Tax Expenses
Profit/Loss After Tax And Before ExtraOrdinary Items
Profit/Loss From Continuing Operations
Profit/Loss For The Period

OTHER ADDITIONAL INFORMATION

EARNINGS PER SHARE
Basic EPS (Rs.)
Diluted EPS (Rs.)
VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS
STORES, SPARES AND LOOSE TOOLS
DIVIDEND AND DIVIDEND PERCENTAGE

Source :Dion Global Solutions Limited

------------------- in Rs. Cr. -------------------
Mar 16 Mar-15 Mar-14 Mar-13 Mar-12

12 mths 12 mths 12 mths 12 mths 12 mths

1,285.31 903.2 827.31 749.31 415.08

1,285.31 903.2 827.31 749.31 415.08
47.38 50.49 41.52 15.98 3.65
1,332.69 953.69 868.83 765.29 418.73
4.32 11.05 8.95 3.62 6.04
1,337.01 964.73 877.78 768.91 424.78

565.22 390.96 376.2 252.53 194.27

74.66 60.25 49.57 42.69 26.26
24.34 38.43 27.63 26.7 17.59
80.29 71.46 50.69 43.08 20.16
502.82 381.77 321.1 372.05 144.18
1,247.33 942.87 825.19 737.05 402.45
Mar-16 Mar-15 Mar-14 Mar-13 Mar-12

12 mths 12 mths 12 mths 12 mths 12 mths

89.69 21.86 52.58 31.86 22.33

-4.96 -0.51 -0.39 -2.5 -9.73
84.72 21.36 52.19 29.36 12.59

34.57 8.39 10.62 10.39 4.47

0 0 0.75 3.1 4.12
-3.61 -3.27 5.28 5.47 3.51
-23.88 -8.53 0.11 -1.84 -1.54
7.08 -3.41 15.26 10.91 2.32
77.64 24.76 36.94 18.45 10.28
77.64 24.76 36.94 18.45 10.28
77.64 24.76 36.94 18.45 10.28
Mar-16 Mar-15 Mar-14 Mar-13 Mar-12

12 mths 12 mths 12 mths 12 mths 12 mths

8.46 2.7 4.85 1.92 1.67
8.46 2.7 4.85 1.92 1.67
% against revenue

0.44
0.06
0.02
0.06
0.39
0.97

0.43

0.41
INOX Leisure Previous Years
Cash Flow ------------------- in Rs. Cr. --------
Mar 16

12 mths

Net Profit/Loss Before Extraordinary Items And Tax 84.72

Net CashFlow From Operating Activities 169.27
Net Cash Used In Investing Activities -158.05
Net Cash Used From Financing Activities 1.84
Adjustments on Amalgamation / Merger / Demerger / Others 0.43
Net Inc/Dec In Cash And Cash Equivalents 13.5
Cash And Cash Equivalents Begin of Year 8.93
Cash And Cash Equivalents End Of Year 22.43
ious Years
------------ in Rs. Cr. -------------------
Mar-15 Mar-14 Mar-13 Mar-12

12 mths 12 mths 12 mths 12 mths

21.36 52.19 29.36 12.59

84.86 125.46 71.31 97.82
-46.94 -69.18 -69.56 -107.13
-43.56 -62.76 10.55 -0.55
0 0 4.16 0
-5.64 -6.48 16.45 -9.86
14.57 21.05 4.6 14.45
8.93 14.57 21.05 4.6