Touchwood records 164% growth in revenue for the FY 22
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Touchwood records 164% growth in revenue for the FY 22

June 2: Touchwood Entertainment Ltd. (NSE: TOUCHWOOD), the leading event management company, is delighted to announce its results for the quarter & year ended March 31, 2022.

FY22 Performance Highlights:

Touchwood delivered a solid all-round performance in FY 2021-22 despite disruptions in 1st Quarter. Total revenue for FY22 was INR 2678.09 lakhs, registering a growth of 164% compared to INR 1011.57 lakhs in the FY21. The Company recorded a profit of INR 296.12 lakhs (PBT) for the fiscal year in comparison to INR 142.48 lakhs in FY21, a growth of 107%.

EBITDA of INR 348.58 lakhs (excluding prior period items).

PAT of INR 215.73 lakhs indicating profit margin of 8%.

Q4 FY22 ended with a satisfactory performance despite partial lockdowns, Govt. imposed restrictions and uncertainty in a fragile geo-political situation. Total revenue for the quarter was INR 963.86 lakhs, a growth of 36% compared to INR 708.53 lakhs in Q4 FY21. Company reported a profit of INR 137.25 lakhs (PBT) as compared to INR 175.29 lakhs in the same quarter of previous year.

FY22 Operational Highlights:                                                                           

Launched its new platform – ‘MakeMeUp App’ that connects consumers to top notch beauty professionals, products and provides access to beauty experiences.

Released a Music Video sung by Navraj Hans & Ashish Chhabra. The video has more than 1 million views on YouTube within 3 months of the release. Music video features top names of Beauty & Social Media industry.

The MakeMeUp Web Series: A digital reality show based on makeup produced by Touchwood Entertainment Ltd. is airing on Hotstar, Hungama Play & other OTT platforms.

MakeMeUp- School of Makeup is operational at Vasant Kunj & Noida. 1st batch of MakeMeUp- School of Makeup at Vasant Kunj branch is expected to be completed soon.

Launched ‘WedAdvisor App’ on Play Store – a one stop platform to find all wedding vendors with genuine & verified ratings.

Touchwood Wedding School- Successfully completed 3 batches. 4th batch of Touchwood Wedding School is expected to be completed soon.

Revived wedding business post COVID-19. New projects were taken and completed successfully and company is growing rapidly.

Commenting on the performance, Mr. Manjit Singh, Chairman and Managing Director, said:

Despite frequent disruptions in the quarter owing to Covid wave 3 and other geo-political factors, the quarter has been satisfactory in terms of growth and profitability. The Company is well prepared and looking forward to an exciting year ahead with all its tech driven initiatives. We are gearing up to touch new horizons in FY23.

Touchwood at a Glance:

Headquartered in Delhi, Touchwood Entertainment Limited, established in 1997, specializes in a variety of event facilities, ranging from event planning & marketing to production services for the events.

Touchwood is known for its larger than life, awe-inspiring setups and formats and completely personalized service to clients. It provides end-to-end solutions for all kinds of events – be it corporate, social or political. Touchwood team is comprised of 42 professionals with a fully developed and functional in-house production facility. It has a panel of skilled craftsmen and band of highly qualified designers add the extra edge to its deliverables.

Safe Harbour:

This release contains statements that are “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Touchwood’ future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Touchwood undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.

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