Film Production, Distribution & Entertainment · Founded 2000 · www.jmdlimited.com / www.jmdmusic.com · BSE 511092 · · ISIN INE047E01031
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Business
JMD Ventures Ltd. operates in the Indian entertainment sector, primarily focused on film production, distribution, and other entertainment-related activities. The company is involved in creating cinematic content, managing the release and dissemination of films across various platforms, and potentially engaging in related ventures like music rights or event management. Its core business model relies on the successful production and monetization of entertainment content through various channels, including theatrical releases, satellite rights, digital streaming rights, and music rights.
Revenue Mix
Based on its sector description, JMD Ventures Ltd.'s primary business segments likely include:
Film Production: Developing, funding, and producing feature films and other audio-visual content.
Film Distribution: Marketing and distributing produced content across different platforms (theatrical, digital, television).
Other Entertainment Ventures: This could encompass activities like music publishing, event management, or talent management, depending on its specific operations.
Specific revenue contribution from each segment is not publicly detailed.
Industry
The Indian film and entertainment industry is highly competitive, fragmented, and project-driven. It comprises numerous production houses, distributors, and content creators ranging from large, established studios to smaller, independent players. JMD Ventures Ltd. operates within this dynamic landscape, competing with both major production houses that have significant financial backing and distribution networks, as well as numerous other smaller and mid-sized content producers. Its positioning is within the broader entertainment market, striving to carve out a niche through content creation and distribution.
MOAT
Based on the available information, JMD Ventures Ltd. does not appear to possess a strong, durable competitive advantage or "moat." The film production and distribution business is inherently project-based, and success is often episodic rather than systemic. While relationships with talent, distributors, or a strong content pipeline could offer temporary advantages, these are often not sustainable moats like strong brands, proprietary technology, or significant economies of scale typically seen in other industries.
Growth Drivers
Key factors that could drive growth for JMD Ventures Ltd. over the next 3-5 years include:
Rising Content Demand: Increasing demand for diverse content across theatrical, television, and rapidly growing Over-The-Top (OTT) platforms.
Digital Penetration: Expansion of internet and smartphone penetration in India, boosting consumption of digital content.
Regional Content Boom: Growing appetite and monetization opportunities for content in various regional languages.
Successful Content Strategy: The ability to consistently produce and distribute commercially successful and critically acclaimed films or entertainment properties.
Monetization Avenues: Evolution of new monetization models, including direct-to-digital releases and hybrid distribution strategies.
Risks
JMD Ventures Ltd. faces several significant risks:
Project-Based Risk: High inherent risk associated with film production, where box office success is unpredictable and subject to audience taste, competition, and critical reception. A single unsuccessful film can significantly impact financial performance.
Intense Competition: Operating in a crowded market with many players, requiring continuous investment in content and marketing.
Changing Consumer Preferences: Rapidly evolving audience tastes and preferences, making it challenging to consistently produce hits.
Content Piracy: Threat of illegal distribution and consumption of content, leading to revenue loss.
Talent Dependence: Reliance on key creative talent (directors, actors, writers) whose availability and costs can be unpredictable.
Funding & Liquidity Risk: The capital-intensive nature of film production requires consistent funding, which can be challenging, especially for smaller players.
Management & Ownership
Specific details regarding the promoters, management quality, and ownership structure of JMD Ventures Ltd. are not provided. Generally, in India, promoter groups often hold significant stakes and exert substantial influence over company strategy and operations. The quality of management is crucial for navigating the volatile entertainment industry, requiring both creative acumen and financial discipline.
Outlook
JMD Ventures Ltd. operates in a vibrant yet highly volatile industry. The burgeoning demand for content, driven by India's large population and increasing digital adoption, presents significant growth opportunities, particularly in the OTT space and regional markets. However, the business is characterized by high project-specific risks, intense competition, and dependence on unpredictable consumer preferences. Consistent success requires strong content creation capabilities, efficient distribution networks, and prudent financial management. The company's future performance will largely hinge on its ability to consistently deliver commercially viable and engaging content while effectively managing the inherent risks of the entertainment sector.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Mar 2019 | Mar 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 79 | 62 | 156 | 110 | 140 | 96 | 157 | 47 | 1 | 2 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Total Income | 79 | 62 | 157 | 110 | 140 | 96 | 157 | 47 | 1 | 3 |
| Total Expenditure | 78 | 62 | 156 | 109 | 139 | 96 | 157 | 47 | 1 | 2 |
| Operating Profit | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | -0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | -0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | -0 | 0 | 0 | 1 | -1 | 0 | -0 | 0 |
| Adjustments | -0 | -0 | -0 | -0 | 0 | -0 | -0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | -0 | 0 | 0 | 1 | -1 | 0 | -0 | 0 |
| Adjusted Earnings Per Share | 0.2 | 0 | -0.1 | 0.1 | 0.1 | 0.3 | -0.2 | 0.2 | -0.1 | 0.1 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 100 | 248 | 250 | 382 | 503 | 218 | 62 | 40 | 3 | 4 | 207 |
| Other Income | 4 | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| Total Income | 104 | 250 | 251 | 383 | 503 | 219 | 62 | 40 | 3 | 4 | 208 |
| Total Expenditure | 100 | 247 | 249 | 382 | 501 | 218 | 62 | 42 | 5 | 5 | 207 |
| Operating Profit | 4 | 3 | 2 | 2 | 2 | 1 | -0 | -2 | -2 | -1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 3 | 3 | 1 | 1 | 2 | 0 | -1 | -2 | -2 | -1 | 0 |
| Provision for Tax | 1 | 1 | 0 | 0 | 1 | 0 | -0 | -0 | -0 | -0 | 1 |
| Profit After Tax | 3 | 2 | 1 | 1 | 1 | 0 | -0 | -2 | -2 | -1 | -1 |
| Adjustments | 0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Profit After Adjustments | 3 | 2 | 1 | 1 | 1 | 0 | -0 | -2 | -2 | -1 | -1 |
| Adjusted Earnings Per Share | 1 | 0.6 | 0.2 | 0.2 | 0.3 | 0 | -0.2 | -0.7 | -0.6 | -0.2 | 0 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 33% | -60% | -62% | 0% |
| Operating Profit CAGR | 0% | 0% | NAN% | 0% |
| PAT CAGR | 0% | 0% | NAN% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 26% | -37% | 29% | -2% |
| ROE Average | -3% | -5% | -3% | 1% |
| ROCE Average | -3% | -6% | -3% | 1% |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 36 | 37 | 37 | 37 | 38 | 38 | 38 | 36 | 34 | 33 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 3 | 3 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | -0 | -0 | -0 | -0 | 0 | -0 | -0 | -0 | -0 |
| Total Current Liabilities | 58 | 70 | 85 | 137 | 145 | 134 | 37 | 1 | 3 | 4 |
| Total Liabilities | 93 | 106 | 122 | 174 | 183 | 172 | 74 | 40 | 40 | 40 |
| Fixed Assets | 4 | 6 | 5 | 4 | 4 | 4 | 4 | 4 | 4 | 3 |
| Other Non-Current Assets | 6 | 7 | 9 | 5 | 0 | 0 | 0 | 1 | 1 | 1 |
| Total Current Assets | 83 | 94 | 108 | 165 | 179 | 168 | 70 | 35 | 35 | 35 |
| Total Assets | 93 | 106 | 122 | 174 | 183 | 172 | 74 | 40 | 40 | 40 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 0 | 0 | 0 | 4 | 3 | 0 | 1 | 4 | 2 |
| Cash Flow from Operating Activities | -13 | 0 | 0 | 0 | -6 | -2 | 1 | -1 | -1 | -0 |
| Cash Flow from Investing Activities | -0 | 0 | 0 | 0 | 5 | -0 | -0 | 4 | -1 | -0 |
| Cash Flow from Financing Activities | 17 | 0 | 0 | 0 | -1 | -0 | -0 | -1 | 0 | 0 |
| Net Cash Inflow / Outflow | 3 | 0 | 0 | 0 | -1 | -2 | 1 | 2 | -2 | -1 |
| Closing Cash & Cash Equivalent | 4 | 0 | 0 | 0 | 3 | 0 | 1 | 4 | 2 | 1 |
| # | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.99 | 0.65 | 0.24 | 0.24 | 0.29 | 0.04 | -0.16 | -0.71 | -0.58 | -0.24 |
| CEPS(Rs) | 1.08 | 0.83 | 0.55 | 0.46 | 0.45 | 0.14 | -0.05 | -0.75 | -0.72 | -0.31 |
| DPS(Rs) | 1 | 1 | 0.5 | 0.5 | 0.5 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 12.29 | 12.68 | 12.78 | 12.87 | 13.02 | 13.22 | 13.05 | 12.33 | 11.75 | 11.51 |
| Core EBITDA Margin(%) | 0.08 | 0.71 | 0.16 | 0.12 | 0.28 | 0.08 | -0.41 | -6.45 | -69.67 | -36.82 |
| EBIT Margin(%) | 3.49 | 1.03 | 0.43 | 0.28 | 0.3 | 0.12 | -0.76 | -6.15 | -77.23 | -29.36 |
| Pre Tax Margin(%) | 3.48 | 1.03 | 0.42 | 0.28 | 0.3 | 0.12 | -0.81 | -6.19 | -77.3 | -29.46 |
| PAT Margin (%) | 2.86 | 0.76 | 0.29 | 0.18 | 0.17 | 0.06 | -0.73 | -6.1 | -76.38 | -28.57 |
| Cash Profit Margin (%) | 3.13 | 0.97 | 0.63 | 0.35 | 0.26 | 0.19 | -0.22 | -5.45 | -68.82 | -23.86 |
| ROA(%) | 4.73 | 1.88 | 0.63 | 0.48 | 0.48 | 0.07 | -0.37 | -4.24 | -5.81 | -2.68 |
| ROE(%) | 11.46 | 5.22 | 1.96 | 1.9 | 2.28 | 0.33 | -1.19 | -6.64 | -6.67 | -3.16 |
| ROCE(%) | 13.94 | 7.1 | 2.9 | 2.88 | 4.06 | 0.72 | -1.24 | -6.7 | -6.74 | -3.25 |
| Receivable days | 115.4 | 80.66 | 98.23 | 95.55 | 84.88 | 181.12 | 372.96 | 98.83 | 420.01 | 438.6 |
| Inventory Days | 16.71 | 6.95 | 4.72 | 3.02 | 12.85 | 50.73 | 153.51 | 139.65 | 1014.25 | 915.82 |
| Payable days | 122.85 | 86.65 | 101.29 | 97.61 | 98.6 | 231.64 | 503.59 | 164.64 | 183.22 | 134.97 |
| PER(x) | 39.33 | 51.79 | 88.79 | 81.41 | 43.2 | 260.23 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 3.17 | 2.65 | 1.7 | 1.51 | 0.98 | 0.87 | 1.15 | 0.87 | 0.3 | 0 |
| Dividend Yield(%) | 0.64 | 0.74 | 0.57 | 0.65 | 1.97 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.09 | 0.39 | 0.25 | 0.14 | 0.07 | 0.15 | 0.68 | 0.69 | 2.87 | 3.66 |
| EV/Core EBITDA(x) | 29.04 | 31.07 | 32.27 | 30.59 | 17.36 | 58.24 | -272.64 | -12.46 | -4.12 | -14.86 |
| Net Sales Growth(%) | 18 | 148.68 | 0.54 | 52.95 | 31.63 | -56.58 | -71.79 | -35.23 | -92.39 | 22.45 |
| EBIT Growth(%) | 89.53 | -26.5 | -58.33 | -0.17 | 42.43 | -82.04 | -272.11 | -423.3 | 4.41 | 53.45 |
| PAT Growth(%) | 87.95 | -34.3 | -61.65 | -2.26 | 20.68 | -85.37 | -463.78 | -437.54 | 4.7 | 54.2 |
| EPS Growth(%) | 82.76 | -34.52 | -62.27 | -2.85 | 23.52 | -85.03 | -452.74 | -355.21 | 18.01 | 58.29 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 1.44 | 1.35 | 1.27 | 1.2 | 1.23 | 1.26 | 1.92 | 33.67 | 13.2 | 9.26 |
| Quick Ratio(x) | 1.34 | 1.3 | 1.23 | 1.18 | 1.01 | 1.04 | 1.29 | 26.87 | 9.53 | 6.9 |
| Interest Cover(x) | 1592.18 | 1767.7 | 130.95 | 323.05 | 130 | 46.34 | -14.54 | -137.36 | -1127.9 | -287.86 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 21.18 | 20.69 | 20.52 | 19.91 | 19.91 | 19.91 | 19.91 | 19.91 | 19.91 | 19.91 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 78.82 | 79.31 | 79.48 | 80.09 | 80.09 | 80.09 | 80.09 | 80.09 | 80.09 | 80.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.61 | 0.6 | 0.59 | 0.57 | 0.57 | 0.57 | 0.57 | 0.57 | 0.57 | 0.57 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 2.27 | 2.29 | 2.29 | 2.31 | 2.31 | 2.31 | 2.31 | 2.31 | 2.31 | 2.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +33% | -60% | -62% | — |
| Operating Profit CAGR | — | — | 0% | — |
| PAT CAGR | — | — | 0% | — |
| Share Price CAGR | +26% | -37% | +29% | -2% |
| ROE Average | -3% | -5% | -3% | +1% |
| ROCE Average | -3% | -6% | -3% | +1% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 21.18 | 20.69 | 20.52 | 19.91 | 19.91 | 19.91 | 19.91 | 19.91 | 19.91 | 19.91 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 78.82 | 79.31 | 79.48 | 80.09 | 80.09 | 80.09 | 80.09 | 80.09 | 80.09 | 80.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.61 | 0.6 | 0.59 | 0.57 | 0.57 | 0.57 | 0.57 | 0.57 | 0.57 | 0.57 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 2.27 | 2.29 | 2.29 | 2.31 | 2.31 | 2.31 | 2.31 | 2.31 | 2.31 | 2.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 |
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