Kohinoor Broadcasting Corporation Limited
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BSE Code:
531366
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Business Profile
Business Profile
Kohinoor Broadcasting Corporation (KOHINOORBRO), incorporated in 1994, is a Chandigarh-based company engaged in the business of media and broadcasting. Earlier known as Overseas Finlease, it got its present name on Oct. 16, 2003.
The company operates in the media education sector with KBCL education and in the regional language music segment with KBCL music, a Punjabi language music series. It has received permission from the Ministry of Broadcasting to up-link its news and current affairs channel and is focusing on setting up an earth station in Punjab and film production studios in India and abroad. Land has been acquired near Chandigarh in Rajapura for setting up an earth station, film studio and news room. Equipment for setting up a teleport has already arrived and orders have been placed for a play-out station to be set up.
A multiplex, Tagore Theaters, is being acquired at an estimated cost of Rs 1,000 million. The board of directors has also approved the formation of a subsidiary in the UK for launching a TV channel there. The company has entered into a memorandum of understanding with Kaybee (UK), a company engaged in the production of TV and film content for Hollywood and Bollywood, for translation of Indian programs into European languages for broadcasting in Europe. Kaybee will obtain the license required for broadcasting a TV channel and teleshopping in the UK.
The registered office is located at SCO 87, Level II, Sector 46-C, Chandigarh-160047.
Financials
Kohinoor Broadcasting Corporation registered a profit of Rs 10.24 million for the year ended March 2008.
It recorded a net sales of Rs 132.4 million for the year ended March 2008.
Total income was Rs 132.64 million for the year ended March 2008.
The earnings per share of the company stood at Rs 0.86 for the year ended March 2008.
Recent Developments
05-MAY-08
On Apr. 30, 2008, the board of directors has taken the following decisions:
- Approved the draft MOU with Kaybee (London), a company engaged in the production of TV and film content for Hollywood and Bollywood, for engaging them to obtain the license for broadcasting a TV channel and Teleshopping in UK, setting up a play-out station and production studio in the UK.
- Approved the MOU with Kaybee for translation of Indian programs into European languages for broadcasting in Europe.
- Taken on record the successful revised frequency assignment on INSAT 4A for setting up the teleport and the successful commissioning of the teleport at Rajpura.
07-JAN-08
On Jan. 07, 2008, the board of directors gave its in-principal approval for the proposal of takeover of Tagore Theatres, multiplex valued at approximately Rs 1,000 million. It has authorized the committee of directors to complete the transaction and to finalize the swap ratio for the proposed takeover.
The board approved the opening of a subsidiary company in United Kingdom for launching a TV channel in the UK and adjoining areas. Further, the board has taken note of the following:
-Receipt of equipment for a teleport to be set up at Rajpura involving a capital outlay of Rs 50 million
- Orders placed for play-out station to be set up at Rajpura involving a capital outlay of Rs 100 million.
- Progress of production of buffer content for its forthcoming news and entertainment channel.
Future Plans
The company is planning to start a Punjabi news and current affairs channel. It has received the approval from Ministry of Broadcasting for up-linking the news and current affair channel.
The company also received in principal approval from Punjab Technical University for setting up of a school for journalism, drama, acting and other media and entertainment-related courses. The company is acquiring premises on lease for the this venture. The company is also proposing to set up a film studio outside India in Singapore and Ajman Free Trade Zone (UAE).