RATING

RECOMMENDATION

Neutral

  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Neutral

Business Type

Emerging Leader

RATING

RECOMMENDATION

Neutral

Business Type

Emerging Leader

Discover and get a complete analysis on Smaaash Entertainment Private Limited - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get the latest updates on Smaaash Entertainment Upcoming IPO.

ISIN

INE433N01018

Face Value

₹10.00

Total Share

19,02,19,253

Total Income

₹288.54 Cr

Profit After Tax

-₹105.47 Cr

EPS

-₹4.45

P/E

-6.74

P/B

3.36

Market Capitalisation

₹570.66 Cr

Enterprise Value

₹961.53 Cr

Book Value

₹8.93

Intrinsic Value

₹43.00

Earnings Yield

-14.83 %

Sector

Consumer Discretionary

Sub-sector

Theme Parks and Gaming

Category

Micro Cap

Cashflow - Operations

₹56.90 Cr

Cashflow - Financing

₹35.02 Cr

Smaaash Growth

Compounded Sales Growth

  • 33.10%

    1 Year

  • 72.09%

    3 Year

  • 63.87%

    4 Year

Pro Only

Compounded Profit Growth

  • NA

    1 Year

  • NA

    4 Year

Pro Only

Return On Equity

  • -62.06%

    2019

  • -29.17%

    2018

  • -34.10%

    2016

Pro Only

About Smaaash

  • Smaaash operates as an entertainment centres in Mumbai, Gurugram, Hyderabad, Bengaluru, Noida, and Ludhiana, India. The company provides sports simulation technology based on cricket, football, racing, and recreational activities; as well as dining for men, women, and children.
  • Smaaash is renowned in the field of sports simulation technology and proprietary gamification technologies such as a unique twilight bowling zone, motor racing and bike racing simulators and the go-karting tracks which is very popular among youths and corporates between the age of 13-50.
  • Being a virtual reality led entertainment gaming centre - vastly credited to its in-house research and production capabilities, head mounted displays are used to produce games such as Walk the Plank, Finger Coaster, Cockpit 360 etc.
  • SMAAASH also touted as one of India's entertainment powerhouse in foreign shores with its Mall of America launch
  • Smaaash achieves Rs. 300 Cr. sales mark about seven years after it opened its first outlet. With 41 outlets as of December 2019, Smaaash's per store gross sales reached at Rs. 350-600 per Sq.ft. on an average, which was at par with significantly higher than other popular restaurant & entertainment startup which entered during the same time as per the the size and format of the store.
  • Before the covid 19-led disruption, it operated 35 zones, but had to shut a few of entertainment zones permanently and is currently has only  21 outlets. As of FY22, the company has started to resume its operations. The company is also planning to launch from its current 21 stores to 50 centres across metro and smaller cities. 
  • The company has come up with the campaign of Smaaash 2.0 to revolutionized its operations, as a part of this campaign, Smaaash will step away from its traditional kids oriented offering to a business that caters to the needs of young adults and working professionals. 
  • Smaaash Entertainment Private Limited is a Private incorporated on 30 November 2009. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai.

  • Smaaash IPO Details

  • Smaaash Entertainment Pvt. Ltd. earlier planned to launch its initial public offering (IPO) to raise 500 Cr. from the market. It was likely to be made public in the month of December, 2021, but for undisclosed reasons, the company has postponed their plans. 

  • Smaaash Funding

Funded By Funding Amount Date of Investment Funding Round Fund Name
I-AM Capital Acquisition Company ₹ 348 Cr 03 May 2018 5 Growth Funding
High Net Worth Individuals ₹ 40 Cr 23 Mar 2018 4 Growth Funding
Avendus Wealth Management Pvt. Ltd ₹ 90 Cr 21 Dec 2017 3 Growth Funding
Sixth Sense Ventures ₹ 25 Cr 27 Nov 2017 2 Growth Funding
FW Sports Investment Fund L.P. ₹ 100 Cr 13 May 2014 1 Series A
  • Smaaash Merger & Acquisition

Acquisition

  • On May 3, 2018, Smaaash has entered into a share subscription agreement with a new investor I-AM Capital Acquisition Company for the private placement of 76,641,157 equity shares for gross proceeds of Rs. 348 Cr. On June 22, 2018, the company has issued 89,583,215 shares in the transaction. The investor will acquire 27.53% in the company.
  • On March 23, 2018, Smaaash Entertainment Pvt Ltd. announced that it has issued 10,605,350 preference shares at a par value of Rs. 10 at Rs. 37.92 for the gross proceeds of Rs. 40,21,54,872. The transaction included participations from Ravi Modi of Manyavar, Lakshmi Narayanan, Vijaylaxmi Poddar of Balkrishna Industries and other 23 HNIs to acquire minority stake in the company. 
  • On 17 December, 2017, Smaaash has received Rs. 90 Cr., from high net worth individuals of Avendus Wealth Management Pvt. Ltd. The deal was made to take minority stake in the company. Smaaash intended to use the funds to accelerate growth plans, to provide world-class sports and immersive experiences.
  • On November 27, 2017, Smaaash Entertainment Pvt Ltd. announced that it has received Rs. 25 Cr. in its round of funding led by new investor Sixth Sense Ventures. As part of the transaction, the investor has invested for a minority stake in the company for Rs. 24,87,96,300. Nikhil Vora from Sixth Sense Ventures also joined the company’s board of directors. The transaction also included participation from several high-net-worth individuals for Rs. 42,86,25,750. The company used the proceeds for furthering its physical presence in both domestic and international geographies.
  • On May 13, 2014, Smaaash Entertainment Pvt Ltd announced that it has received about Rs. 100 Cr. in first round of funding from new investor FW Sports Investment Fund L.P., a fund managed by FW Asset Management. Pursuant to the transaction, the investor acquired 39% stake in the company. Smaaash Entertainment Pvt Ltd used the proceeds for the company’s expansion plan.
  • Smaaash Subsidiaries

  • Adrenaline Foods Private Limited
  • Smaaash Innovations Private Limited
  • Smaaash Entertainment USA Limited 
  • Smaaash Village Private Limited
  • Smaaash Leisure Limited (formerly known as BluO Entertainment Limited)

Smaaash Business Model

  • Adrenaline Foods Private Limited, incorporated on November 26, 2014. The company is engaged in the business of operating quick service restaurants. It offers Indian and International Cuisines.
  • Smaaash Innovations Private Limited assists in setting up and designing and developing equipment/technology related to games and entertainment centre.
  • Smaaash Entertainment USA Limited is engaged in the business of operating entertainment centres.
  • Smaaash Village Private Limited is engaged in the business of consulting in setting up different forms of family entertainment centres and restaurants.
  • Smaaash Leisure Limited (formerly known as PVR BluO Entertainment Ltd) was acquired on September 01, 2017. The company is engaged in the business of operating entertainment centres. It presents an unmatched range of games that offer a superlative virtual-reality experience and combines the best of sports, music and dining into a highly immersive, interactive, innovative and involved entertainment experience. 
  • Smaaash Revenue Segmentation

  • Other Income
  • Other Operating Revenue
  • Revenue from sale of in-house developed games
  • Revenue from operating entertainment centers
  • Smaaash Product & Services

  • Events and Parties
  • Games
  • Food and Beverages
  • Smaaash Assets

Total assets of the company as on 31 March, 2019

Particulars(Amount in Rs. Lakhs)
Property and equipment19802.70
Furniture and fixtures
981.12
Motor Vehicle10.48
Office Equipment123.89
Computer Equipment90.49
Leasehold improvement11309.58
Other property, plant and equipment1402.65
Brands and trademark814.11
Brands772.45
Trademarks41.66
Computer software101.60
Copyright, patent and operating rights221.29
Other intangible assets3424.86
  • Smaaash Industry Overview

Industry Statistics

  • Small amusement park or entertainment zone, also known as family entertainment center (FEC), serves local communities in both major and small cities. In comparison to a regular amusement park, FECs are designed to keep the entire family entertained at a substantially lower cost per person. Arcades, gaming consoles, video games, soft play areas, indoor playground systems and virtual & augmented reality activities are all available.
  • With turnover of USD1.2 billion, India accounts for 0.6% of the Asia Pacific total in 2020. India’s sporting and recreational services turnover declined by 14.1% in 2020, making India the 11th largest country in the region. The industry’s turnover is forecast to grow at a CAGR of 6.2% over 2020-2025 and fully recover from the COVID-19 pandemic in 2023.
  • Favorable youth demographics and continuous launch of new FECs supporting family activities, F&B integration, and participatory play boost the growth of the global family/indoor entertainment centres market. In addition, increase in number of malls positively impacts the growth of the market. 
  • With the increase in work pressure, not many people have the time to spend an entire day at theme parks and resorts. Family Entertainment Centers like Smaaash have provided them much needed entertainment avenues at convenient locations close to their homes. Increasing disposable incomes, coupled with limited leisure time, has led to the exponential growth of FECs.
  • Bandai Namco, a leader in indoor amusement park and family entertainment centres (FEC), has launched the biggest indoor amusement park in Mumbai. The major players operating in global family/indoor entertainment centre are Dave & Buster's, CEC Entertainment Inc, Cinergy Entertainment, KidZania, Scene 75 entertainment centres, The Walt Disney Company, Lucky Strike Entertainment, Funcity, Smaaash Entertainment Pvt. Ltd. and Lego Land Discovery Centre and others.

Future Prospects

  • The industry’s turnover is forecast to grow at a CAGR of 6.2% over 2020-2025 and fully recover from the COVID-19 pandemic in 2023.
  • Key drivers enabling the growth in the industry are rise in the number of malls and increase in the youth population.
  • There is a rise in the number of malls across India, enabling the growth of FECs. Mall developers are increasingly including FECs in their plans since they help in increasing and retaining footfalls at malls and increase the number of hours consumers spend in them. New developers have begun to plan bigger spaces in their malls and consider FECs as a USP for them.
  • Family / indoor entertainment facilities offer loyalty programs, which is an important market driver. The program is supported by parameters like visit points, reward points, cards, memberships, etc. These loyalty programs are used to retain and attract new customers with advertising aid in family entertainment centres. 

Smaaash Awards & Achievements

  • Smaaash, has been conferred with the esteemed ‘North India Best Employer Brand’ Award 2019.
  • Smaaash was bestowed with prestigious Best Sports Bar in India Award at the 3rd Edition of the India Nightlife Convention and Awards (INCA) held on 15th and 16th September 2018 at Shangri-La’s Eros, Janpath, New Delhi.

Smaaash Strengths

  • The company has a strong presence in tier-1 cities in India as well as abroad, which enables the company to realise higher revenue. The company has 21 entertainment centres at present, which is far greater than its peers. 
  • Smaaash is equipped with hosting of events, parties and gaming, which makes it unique and first of its kind as a family entertainment centre in India.
  • The company has Sachin Tendulkar as its brand ambassador. 
  • Technology the company uses such as sports simulation technology and proprietary gamification technologies to make the virtual reality gaming experience more attractive for youths is what makes the company stand apart in the industry.

Smaaash Shortcomings

  • The company lacks the ability to manage its expenses and has registered losses since incorporation despite improving revenue from operations. 
  • The company has a huge debt amount in its books, which far exceeds the revenue generated by the company in FY19. 
  • Management was not able to diligently allocate funds which they had raised for their expansion, but rather those funds were used to keep the company afloat.
  • The indoor family entertainment centre industry is increasing rapidly, and Smaaash is unable to keep up with the pace. The company must analyse the trends and culture to keep increasing its market share in the industry.

Smaaash Opportunities

  • Partnerships with local players can help Smaaash Entertainment expand its reach in international markets. Smaaash Entertainment can bring global procedures and execution knowledge to the table, while the local companies have local expertise.
  • Huge entry costs makes it hard for unorganised player to take entry in the market, which could benefit Smaaash to capture the market, followed by latest trends in the industry.
  • Smaaash also operates in the U.S.A., which provides know-how of the U.S.A. competitive market for Smaaash, which will add benefit to foray into overseas markets. 

Smaaash Threats

  •  As the industry's new product launch cycles shorten, players like Smaaash Entertainment are facing increased competition. Smaaash Entertainment can't adapt quickly enough to the needs of specific segments that disruptors are focusing on because of its enormous customer base. 
  • Even though Smaaash is a market leader in providing new technology to the table, it still has to challenge new product innovations done internationally, which when brought in India could take away brand loyalty among consumers. 
Smaaash Rating

  • RECOMMENDATION

    Neutral

  • Smaaash Detail Info

Industry Statistics

PRIVATE LIMITED

Registered In

India

last Updated

10/08/2020

Registered Date

30/11/2009

Planify Ticker

SMSH

Reg Office: Kamala Mills Compound Gate No 4, Trade View Bldg Mumbai, 400013 India

Visit Website

Frequently Ask Questions

'stock_name_auto' has expressed no intention of raising funds through IPO.

The face value of 'stock_name_auto' share is Rs. 10

Yes, 'stock_name_auto' is expected to make good profits in the future.

The major shareholder of 'stock_name_auto' is  Mr. Anand Subramaniam Krishnan.

Short Term Gain Capital Tax - Less than 2 years - 30%, Greater than 2 years then 20% tax + Indexation.

What sets 'stock_name_auto' apart in the industry is the technology it employs to make the virtual reality gaming experience more appealing to young people.

Please find below the procedure for buying stock_name_auto Unlisted Shares at Planify.
• 1. You confirm booking of stock_name_auto Unlisted Shares with us at a trading price.
• 2. You provide your client master report (ask the broker if not available) along with PAN Card and Cancelled Cheque in case you are not transferring funds from the bank account as mentioned in the CMR Copy. These are KYC documents required as per SEBI regulations.
• 3. We will provide the bank details.
• 4. You need to transfer funds in that account.
• 5. Payment has to be done in RTGS/NEFT/IMPS CHEQUE TRANSFER. No CASH DEPOSIT.
• 6. Payment has to be done from the same account in which shares are to be credited.
• 7. We will transfer the shares in 24 hours if funds are credited before 2 pm.
Important Note: Please note that the lock-in period for selling stock_name_auto Unlisted Shares is 6 months after listing. Hence you can’t sell stock_name_auto Unlisted Shares which you bought in Pre-IPO for 6 months after its listing. i.e. You can sell it only after 6 months calculated from the listing date.

Please find below the procedure for selling stock_name_auto Unlisted Shares at Planify.
• 1. We will confirm our buying price of stock_name_auto Unlisted Shares.
• 2. We will give you our client master report and you will transfer the stock_name_auto Unlisted Shares to our demat account.
• 3. We will ask for bank details of yours once the stock_name_auto Unlisted Shares are received in our demat account..
• 4. We will transfer the funds in your bank account within 24 hrs of receiving the stock_name_auto Unlisted Shares.
• 5. Payment will be made in RTGS / NEFT / CHEQUE TRANSFER/IMPS. No CASH DEPOSIT.
• 6. Payment will be given in the same account which is linked to demat account or you need to provide the cancelled cheque shows your name to verify. As per SEBI regulations, the transfer of funds in the third party account is not legal and our policy refrain us from doing so.
Note: The price at which we are buying the share is fixed for 3 days. If you cant sell your stock within 3 days, then the price of that day will be applicable when we receive shares in our demat.

Lock-in period of stock_name_auto Unlisted Shares depends upon category of investors.
• 1. Venture Capital Funds or Alternate Investment Fund of Category -I or II, or Foreign Venture Capital Investor - lock-in Period of 6 months from the date of acquisition of stock_name_auto Unlisted Shares.
• 2. Other Investors (include Retail, HNIs or Body Corporate) lock-in Period of 6 months from the date of listing of IPO of stock_name_auto Unlisted Shares.
This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

DIS - Delivery Instruction Slip is the way through which an investor can sell or transfer the stock_name_auto Unlisted Shares from his/her demat account to any other demat account. There are two Types of DIS Slip.
1. Offline-DIS - This is an offline mode of transfer of shares wherein the investors needs to fill DIS form and give it to their broker for transferring the shares. Following are the fields which are required to be filled.
• a. ISIN number of stock_name_auto Unlisted Shares.
• b. Name of stock_name_auto Unlisted Shares
• c. Quantity of stock_name_auto Unlisted Shares
• d. Cosideration Amount
• e. Target DP ID and Client ID
• f. Annexure
2. Online DIS - Some of the broker these days gives facility of transferring the stock_name_auto Unlisted Shares via online DIS. So, please check with your broker whether such facility is available or not. For example: Angel Broking proivdes the facility of Online-DIS from its platform. As an investor he/she simply needs to add a beneficiary into it and send the stock_name_auto Unlisted Shares by filling the details similar to Ofline-DIS.

In the last 4-5 years, the unlisted share market has become quite big and as a result of that, the ticket size has reduced from usual 5-10 Lac to 35-50k in today's scenario. Generally via our Planify platform, if somebody wants to buy Unlisted Shares then minimum investment would be 35-50k.To know about the minimum lot size of stock_name_auto, kindly click on this hyperlink - stock_name_auto.

Yes, buying and selling of unlisted shares in India is 100% legal.

If you sell your shares within 2 years, then you will have to pay Short-term Capital gain on unlisted shares. Short-Term Capital Gain is added in your Income. So, as per individual tax slab you need to pay capital gain tax.

If you sell your shares after 2 years, then you will have to pay Long-term Capital gain on unlisted shares LTCG is 20% with indexation benefits.

Taxes will remain the same irrespective of listing of shares, if bought in unlisted market. Actually, to be eligible for taxes as per listed market, one has to pay STT on buying and selling of shares. But, if you buy in unlisted and sell in listed market, one pay STT only on selling so, taxes of listed market will not be applicable.

If you buy stock_name_auto Unlisted Shares from Planify then these shares can checked in two ways. However, before we tell you the process of checking of shares, it is intimated that as per SEBI regulations, the shares can be transferred in demat account only.
Check credit of stock_name_auto Unlisted Shares Instantly?
• 1.You can download the NSDL or CDSL application from google play-store and check. If you want to check whether your stock broker is registered with NSDL or CDSL then check the following procedure.
• By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Demat Account = DP ID + Client ID. (16 Characters )
• "DP ID is the unique identification of the Broker. Every broker gets a unique number from CDSL or NSDL.By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Client ID is the unique identification of the Client. Every client gets this unique number which represents his/her portfolio.
• In CDSL, all these characters are numbers (1234567891234567) first 8 digits are DP ID and next 8 digits are Client Id whereas in NSDL the first two characters are letters which are in accordance with the country that you are from (IN12345678912345), then 6 unique digits for Broker and next 8 digits are client ID.
• Example:
• CDSL = 12345678(DP ID) and 91234567(Client ID).
• NSDL = IN123456 (DP ID) and 78912345(Client ID).
• Check in brokers application?
• Credit of stock_name_auto Unlisted Shares can be checked in brokers application as well but it takes T+2 days to show the shares.

The stock_name_auto Unlisted Shares are credited in demat account same day of transferring funds in our company's bank account.

The price of stock_name_auto Unlisted Shares can be checked in two ways. First, you can join our telegram channel where on daily basis we share the latest prices of all the unlisted shares in the morning and secondly, you can register on Planify.live platform to see the historical graphs and prices of all the shares at one place.

If you see the thesis of investment in the unlisted shares then it is being done mainly to take the advantage of IPO market. And, if the IPO plans of company get delayed due to market conditions or any other reason then demand suddenly drops in the market. The unlisted market works mainly on demand and supply and if there is no IPO news then getting exit would be difficult.

"Planify is India's fastest and leading marketplace to buy and sell unlisted shares. In the last 3 years, we have already served more than 1 million users on the platform. The total transactions value done from the platform is already more than 100 Crores. The name of our Co-founders Mr. Umesh Paliwal and Dinesh Gupta publish regularly in leading newspapers like MoneyControl, Business-Standard, ET etc for their views on IPO and Unlisted market. In the last 3 years, Planify has made a good name for itself in the industry and gained a trust of their users. So, the new investors should not be worried about any kind of fraud that is mostly happens with unkown brokers in the market while doing investment with Planify."

We at Planify do the valuation based on 2 methods.
• 1. We check the last funding that is being done in the stock_name_auto Unlisted Shares to ascertain the benchmark valuation.
• 2. If there is no funding happened in the company, then we try to find a business similar to stock_name_auto Unlisted Shares in the listed space and do comparison method to ascertain the valuation.
As an investor in the unlisted space, we would always recommend that you must check all the risk parameter carefully before investing in the unlisted space.

We source shares either from the employees or initial investors looking to liquidate their stock_name_auto Unlisted Shares.

Pre-IPO shares means which are planning for an IPO in near future. So, all the shares which are traded on the platform are not Pre-IPO Shares. However, if the company's business is going good and then demand will always be there in the unlisted space, so even if the IPO does not come, the investors can easily liquidate their stock_name_auto Unlisted Shares in the unlisted market itself.

Rules and regulations of SEBI are applicable in the Unlisted space like lock-in period of 6 months, paying of Stamp Duty, and DP Charges for every transaction etc. However, to become an unlisted broker there is no such regulation by SEBI as of yet.

For tracking news and other information about stock_name_auto Unlisted Shares, one can visit our website wherein we post news and other information on daily basis and one can also join our telegram channel.

Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of stock_name_auto Ltd unlisted share.

We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of stock_name_auto Ltd unlisted shares with us.

The financials of stock_name_auto Ltd which includes the P/L of stock_name_auto Ltd and the Balance Sheet of stock_name_auto Ltd is in the financials section.

The annual report of stock_name_auto Ltd is available in the annual report section.