INVESTOR PRESENTATION JANUARY 2018 DISCLAIMER This presentation - PowerPoint PPT Presentation

INVESTOR PRESENTATION JANUARY 2018

DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by Mukta Arts Limited (“Mukta” or the Company) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the management of Mukta about the business, industry and markets in which Mukta operates. These statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond Mukta’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of Mukta. In particular, such statements should not be regarded as a projection of future performance of Mukta. It should be noted that the actual performance or achievements of Mukta may vary significantly from such statements. 2

DISCUSSION SUMMARY 4 COMPANY OVERVIEW 9 EXHIBITION BUSINESS 22 EDUCATION BUSINESS 26 OTHER BUSINESSES 29 CONSOLIDATED FINANCIALS 3

COMPANY OVERVIEW DIFFERENTIATED BUSINESS MODEL ACROSS ENTIRE FILM INDUSTRY VALUE CHAIN • • Leading production house in India with a rewarding Well penetrated Distribution network presents legacy of more than 30 years opportunities for other business opportunities • • Pioneered by multidimensional founder and 4 offices across India with strong presence in creative head – Mr. Subhash Ghai North India (Punjab, Delhi) • • Globally recognised high quality film Works with leading production companies – 20 th Century Fox, Disney-UTV, Warner library of more than 35 hit films FILM FILM Brothers etc. • Going forward, focus on low risk high PRODUCTION DISTRIBUTION • value projects leveraging our Offers Programming service to more prestigious film content IPR than 600 screens across India • • One of Asia’s largest Film, Television, Growing chain of multiplexes operated Animation and Media School under “Mukta A2 Cinemas” brand • Spread over 5.5 acre campus, operating 8 FILM FILM • “Value for Money” – high quality movie schools in India EDUCATION EXHIBITION viewing experience at an affordable value • Significant growth from 80 students studying • Currently operate 51 screens across 20 in 8 courses in 2006 to 948 students as on Q2 FY18, properties in 16 cities & 9 states across India, studying in 14 courses at present. including a 6-screen property in Bahrain • Rated as one of the 10 best film schools in the • First Indian company to successfully venture into world - by ‘The Hollywood Reporter’ magazine. high potential GCC region with a 6 screen multiplex in 2016 5

COMPANY OVERVIEW ORGANISATIONAL STRUCTURE MUKTA ARTS LIMITED – 7 SUBSIDIARIES FILM PRODUCTION 100.00% 84.99% 55.00% 99.92% 100.00% 100.00% Mukta A2 Cinemas Whistling Woods Mukta V N Films Mukta Telemedia Coruscant Tec Mukta Creative Limited (Mumbai) International Limited Limited Limited Private Ventures Limited Mukta A2 Multiplex (Mumbai) (Mumbai) (Mumbai) Limited (Mumbai) S.P.C. (Bahrain) (Mumbai) THEATRE FILM PROGRAMMING TELEFILM MOBILE CONTENT EXHIBITION EDUCATION SERVICE PRODUCTION SOLUTIONS DIGITISATION 2.6% 6.7% 5.7% 8.6% 9.0% 1.1% FY14 Revenues were majorly H1 FY18 Revenues were majorly 5.3% 11.6% contributed by contributed by 35.2% 32.4% - Film Production business 55.6% - Theatre Exhibition business 30.6% which has volatile revenues 86.1% which presents strong growth and profitability potential and steady margins - Programming & Distribution 16.2% - Education business which gives 57.0% 53.7% 48.8% business which gives high long term stable revenues with 22.5% 5.6% 5.7% turnover but low margins healthy operating margins FY14 FY15 FY16 FY17 H1 FY18 Others Software (Production/Distribution/Programming) Education Exhibition 6

COMPANY OVERVIEW BOARD OF DIRECTORS Mr. Subhash Ghai Mr. Rahul Puri Mr. Parvez Farooqui Executive Chairman Managing Director Executive Director ▪ One of India's most prolific ▪ Associated with Mukta Arts ▪ Joined Mukta Arts in 2003 film writer, director and since 1984 ▪ Head of Academics at producer ▪ Experienced in Marketing, Whistling Woods ▪ More than 40 years of ▪ Sales, Purchase, Accounts, Worked with UBS, Ambit in experience having created Taxation and Legal Corporate Finance over 35 hit films Mr. Kewal Handa Mr. Manmohan Shetty Mrs. Paulomi Dhawan Director Director Director ▪ ▪ ▪ More than 30 years across More than 3 decades of Over 35 years experience in Finance, commercial strategy experience in media and Media, Marketing and Brand and business development entertainment business Communications ▪ ▪ functions. Responsible for Treasurer of Indian Society ▪ Visiting faculty at NMIMS conceptualizing Imagica of Advertisers (ISA) 7

COMPANY OVERVIEW MANAGEMENT Mrs. Meghna Ghai Puri Mr. Ashish Gharde Mr. Prabuddha Dasgupta President, Whistling Woods COO, Mukta Arts Ltd. CFO ▪ ▪ ▪ 18 years of experience in Chartered Accountant with Honorary Fellow of Bradford Operations and Human over 20 years of experience College, UK Resources. ▪ in finance and accounts Spearheaded the launch of 8 ▪ Previously associated with ▪ Worked for 16 years in schools within Whistling TATA, Balaji Telefilms, L&T. Entertainment industry Woods International Mr. Satwik Lele Mr. Raju Farooqui Mr. Tolu Bajaj COO, Mukta A2 Cinemas Head of Production COO, Distribution & Exhibition ▪ Worked in exhibition ▪ ▪ Joined Mr. Subhash Ghai’s In the film Production and industry for more than 15 production house as an Distribution field for more years Assistant Director in 1976 than 30 years ▪ Previously associated with ▪ ▪ Instrumental in setting-up Previously associated with E-square, Reliance Media Audeus studio Yashraj Films, Tips Films Works and INOX 8

EXHIBITION BUSINESS

EXHIBITION BUSINESS INDIAN FILM EXHIBITION – LONG TERM SUSTAINABLE GROWTH OPPORTUNITY THEATRICAL MOVIE WATCHING IS THE MOST FAVOURITE ENTERTAINMENT OPTION IN INDIA INDIA WITNESSES 2 ND HIGHEST NUMBER OF THEATRE FOOTFALLS IN A YEAR INDIA RELEASES HIGHEST NUMBER OF MOVIES IN A YEAR 1,602 2,178 1,930 Million Footfalls Per Year 1,364 745 554 476 324 279 241 204 182 166 208 197 176 171 169 156 146 China India US France Mexico UK Japan S. Korea Germany Russia India China Japan US France UK Germany S. Korea Spain Italy THEATRICAL MOVIE WATCHING IS THE PREFERRED OPTION INCREASING NUMBER OF MOVIES GROSSING MORE THAN RS 1 BN In Rs Bn 76% 75% 74% 73% 73% 2 159 2 2 138 2 125 126 112 9 7 6 6 5 5 116 101 93 94 85 2 1 1 2012 2013 2014 2015 2016 2008 2009 2010 2011 2012 2013 2014 2015 2016 Domestic Theatrical Overseas Theatrical Home Video > Rs 1 Bn > Rs 2 Bn Cable & Satellite Rights Ancilliary Revenues 10 Source: CRISIL Report, FICCI Whitepaper on Screen Density in India, Industry

EXHIBITION BUSINESS INDIAN FILM EXHIBITION – LONG TERM SUSTAINABLE GROWTH OPPORTUNITY INDIA IS LARGELY UNDERSCREENED WITH SIGNIFICANT POTENTIAL FOR NEW SCREEN ADDITIONS ACROSS TIER 2 AND TIER 3 CITIES MOVIE SCREENS IN INDIA ARE STILL THE LOWEST 125 95 80 Screens / Million population 60 57 AFFORDABLE MOVIE WATCHING EXPERIENCE TO 40 DRIVE NEW SCREENS GROWTH BEYOND METROS 26 25 16 12 10 7 • Affordable multiplexes set to gain share from declining number of single screens in Tier 2 & Tier 3 cities across India US France Spain UK Germany S.Korea Japan Taiwan China Thailand Brazil India • Positive drivers behind organic expansion of multiplexes beyond SIGNIFICANT SCOPE FOR MULTIPLEX PENETRATION IN TIER 2 & 3 CITIES metros & Tier 1 cities – • Majority of upcoming malls in Tier 2 & Tier 3 cities • Lower operating overheads including lower rentals Cities with % No. of Multiplex/ • Improving state of regional film industry etc. Tier No. of Cities Multiplex Penetration Multiplex City T1 8 8 100% 261 32.6 T2 88 78 89% 303 3.9 T3 372 94 26% 136 1.4 11 Source: CRISIL Report, FICCI Whitepaper on Screen Density in India, Ambit Capital Report, Industry

EXHIBITION BUSINESS MUKTA A2 CINEMAS – UNIQUE VALUE PROPOSITION WE OFFER “VALUE FOR MONEY & HIGH QUALITY” MOVIE WATCHING EXPERIENCE IN INDIA WE BRING MOVIE WATCHING EXPERIENCE FOR EVERY INDIAN WE LEVERAGE OUR EXPERIENCE AND CAPABILITIES More than 30 years of experience in the film industry 19 MULTIPLEXES Presence across film industry value chain - spanning across 51 SCREENS production, distribution and programming functions Deep understanding of films of various genres, varying audience 16 CITIES & 9 STATES ACROSS INDIA tastes, film content preferences and spending propensities 1 SIX SCREEN MULTIPLEX IN BAHRAIN Strong relationships with various regional distributors through its programming service 12