Indian Film Share Discussion Threads

[mali7] 04/8/2009 09:59

With the share price pushing forward, will there be a pressure on the bidder to increase their bid?

[mali7] 31/7/2009 15:15

yep, it is understandable that they do this. These should be valued a lot higher, but because they are so cheap then to NAV, they might as well buy all of their own shares! If they believe they are value close to NAV then buying all the shares for less then 50% of NAV is a good investment. Then they can sell back to market those shares in a 1-2years for £1+, just like they floated and the cycle starts again...it clever.

Anyway I wasnt prepared to sell mine at 40p, I am a long-term holder and think they have potential, but obviously there are sellers out there willing to sell at 40p, so not much I can do as an individual. I would like to hold these shares, so will see if possible, or give in to the mass holder as end of day they have the power!

[nickcduk] 31/7/2009 06:39

I think you will see a number of offers like this from the promoters of Indian stocks listed on Aim. UCP and HRCO are 2 that are particularly prone to offers as they trade on such large discounts to NAV just like IFC.

[stegrego] 30/7/2009 22:08

What a bloody offer for the company - 40p the cheeky robbing basts! 1.2% higher than yesterdays close!!

They say its to let 'short term' investors exit. WTF...

If they get more than 50% but less than 75% they say they will stay listed...

Over 75% and they say they might delist...

'Indian Film Company Shares have witnessed a lot of pressure on prices in recent
times. Although the share price saw an increase following publication of The
Indian Film Company's results for the year ended 31 March 2009, it subsequently fell back. Whilst there has since been a further increase, this has been on the back of very thin volumes and Network 18 Holdings believes that this is an strong indication of the regular downward pressures on the value of Indian Film Company Shares. Whilst one reason for this is certainly the current unfavourable market conditions and the current global situation, Network 18 Holdings understands that some investors are concerned at the share prices being consistently lower than the net asset value of The Indian Film Company.
While share prices directly do not affect The Indian Film Company's operations, they do affect the liquidity, market capitalization and future capital raising plans.

Network 18 Holdings believes that the Offer provides an opportunity for some
short-term investors, who are under pressure, to exit at a reasonable price.
Simultaneously, Network 18 Holdings believes that such a clear manifestation of its long-term commitment to The Indian Film Company will be welcomed by
longer-term investors.'


What a croc.

They are trying to steal peoples shares.

I guess this would work ok if they only got a tad over 50%, as they would keep the listing.

They arent having my shares for 40p though unless its a last resort!!

[bardfield1] 29/6/2009 14:53

Looks like the 40p level is holding.
Lets hope the Eros results due this week drive us higher.

[molatovkid] 26/6/2009 09:43

if this starts getting bought in serious numbers then it will really fly....it appears to move on hardly any volume. Surely it must be a matter of time for these quality figures to be taken on board by the wider investment community.

Investors Chronicle recommended it aswell....

[stegrego] 18/6/2009 08:32

Actually its 3 MMs

[stegrego] 17/6/2009 22:39

The Company amortises film costs using the individual-film-forecast method. Under the individual-film-forecast method, such costs are amortised for each film in the ratio that current period revenue for such films bears to of remaining unrecognised management's estimate ultimate revenue as at the beginning of the current fiscal year. Management regularly reviews and revises, where necessary, its total estimates on a film-by-film basis, which may result in a change in the rate of amortisation and/or a write down of the intangible asset to fair value. The amortisation charge is included under cost
of sales in the Consolidated Income Statement.
The assets are assessed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If any such indication of impairment exists, the Group makes an estimate of its recoverable amount.

i.e. net asset value is essentially determined by management estimates!
IE dont pay much attention to that.



£55 million has been invested in films, which should turn into cashflow, which then gets ploughed back into more films.

[market_maker 1] 17/6/2009 22:16

Reading the RNS


how is it their NAV 117p, how do they calculate that? and they want more funding with a profit of more 7p eps??? did the £55m gone from the IPO?

[market_maker 1] 17/6/2009 20:12

Thanks, My L2 showing only one

[market_maker 1] 17/6/2009 16:48

one mms in this stock? this will be extremely illiquid, they will manipulate the share price

[pec2004] 17/6/2009 08:35

The spread is a killer on this one. Not surprising there are no buyers at the moment.

[stegrego] 15/6/2009 21:56

I think they make the NAV up, up to a point, as its based on what management estimate the films etc are worth.

[gdasinv2] 15/6/2009 15:36

bcuz

Net profit increased by 98.5% to GBP3.89m (period ended 31 March 2008: GBP1.96m)

[pec2004] 15/6/2009 15:08

How do they arrive at the NAV of over a £.

[gdasinv2] 15/6/2009 14:22

The Indian Film Company Limited
("IFC" or the "Company" or the "Group")
Final results for the year ended 31 March 2009

The Indian Film Company (AIM:IFC), a specialist investment company dedicated to
the Indian film industry, is pleased to announce its first set of full year
results for the year ended 31 March 2009:
Highlights
Financial
* Revenue of GBP40.90m (period ended 31 March 2008: GBP11.45m)
* Net profit increased by 98.5% to GBP3.89m (period ended 31 March 2008: GBP1.96m)
* Earnings per Ordinary Share increased to 7.07 pence (period ended 31 March 2008:
3.56 pence per Ordinary Share)
* Net Asset Value increased by 17.8% to 117.32 pence per Ordinary Share (2008:
99.59 pence per Ordinary Share)
* The Group's film projects had a carrying value of GBP52.06m at the year end.



SO IN THIS CONTEXT AND COMAPRE TO EROS, THE SHARE PRICE IS VERY CHEAP...........AT THIS LEVEL

[gdasinv2] 15/6/2009 12:54

IFC has signed up major deals and with current huge profit, they are in top picked now

[gdasinv2] 12/6/2009 14:40

final share price is moving, still unervalued :-) and quite cheap

[pec2004] 12/6/2009 11:26

A pretty big 400k buy at 41p. Looks like if is going to go higher.

[nilip] 12/6/2009 09:26

Now that's what you call a rise !!





Talk about a steep ascent :-)

[molatovkid] 11/6/2009 15:38

it sounds like not only do they have a raft of new films hitting the market but they will be making more from them now the dispute has been resolved. Should make for a strong 6 - 12 months......

According to Digital Look this used to be on a PE of 20....based on eps of 7p that would give us a price of £1.40! Bring it on.....cheap even at these levels I would say.

[stegrego] 11/6/2009 12:47

The idea is that cash flow from releases finances future productions.

Supposedly the rate of return is around 20% per film and is recouped over around 3 years, depending on the popularity of the films.

Obviously its not done them any harm having the 2 biggest films last year (ever?)

They have said they are looking at debt to finance more films if needed. No mention of equity, but cant rule it out.

[molatovkid] 11/6/2009 09:06

at an undemanding 10x eps = 70p. Sounds about right

[nilip] 11/6/2009 09:05

pec, not sure ?

I'm just stating what I read ...

£0.94m cash doesn't seem much to me ? (3.28m inc. std)