Progress of Films - Eternal Love and FutebolCompact Disc’s two animated feature films, Eternal Love and Futebol (with Legendary Brazilian Football King-Pele) are progressing well. The demo reels of the two feature films will be ready by May 2010. Once the promos are ready, the company will enter distribution agreements for the worldwide territories. These films will be released in theatres during the year 2011.

The company is expected to generate revenue of US$ 35.75 million (Rs. 173.40 crore) from Eternal Love and US$ 60.10 million (Rs. 291.50 crore) from Pele’s Futebol film including brand licensing and merchandising.

Premier Brands Pvt. Ltd. a wholly owned subsidiary of Compact Disc India Ltd. has become the Title Sponsors for Team India and signed a Three year sponsorship deal worth Rs. 7.50 crore with the Badminton Association of India (BAI).

Mr. Suresh Kumar, Chairman Premier Brands Pvt. Ltd. emphasized that the engagement with BAI is not just a sponsorship deal. “It is our way of giving back to the society for development of sports in India and contributing to a sport with tremendous Indian heritage, history and a sense of national pride in which India has consistently proven its worth at a world stage.”

Premier Brands Pvt. Ltd. will soon be announcing several other international sports and lifestyle alliances on the global scale.

The Board of Directors of Compact Disc India Ltd. has decided to repay the entire outstanding dues of The Hongkong & Shanghai Banking Corporation (HSBC) from its internal cash accruals. This will facilitate CDI to release dividend @ Rs. 2/- per share for the Financial Year 2008-09 immediately, subject to approval of the members.

The Board of Directors of the company in their meeting held on Tuesday, the 23rd March, 2010 interalia has considered the following :

  • To diversify and expand the activities of the company, the Board has also decided to hold Extra Ordinary General Meeting of the members of the company on Monday, the 17th May, 2010 and to consider the deferred dividend for the year 2008-09.
  • Approved the animation contract to make an animation feature film on “Hitler”. CDI has secured this contract from a renowned British film production house who is producing this feature film jointly with a known Hollywood Studio. The total contract value is US$ 82 million.
  • The Board of Directors has approved the business plan for the FY 2010-11. The estimated financial projections are:
    • Sales Revenue Rs. 290.00 crores
    Net Profit Rs. 59.45 crore
    Sales revenue include revenue from subsidiaries of the company. No provision has been made from the estimated pre-sales revenue from two animation feature films.
  • The Board of Directors has also reviewed the progress of two on-going animation feature films, Eternal Love and Futebol with Pele. The promotional show reel of “Eternal Love” will be released during the month of May. Futebol with Pele’s first show reel will be released in July during FIFA World Cup 2010. Both the films will be released during the first half of 2011.
  • The Board of Directors has also approved to set-up Corporate Head Quarter and Animation Studio at IT Park, Chandigarh including the terms of funding sanctioned for the same.