(vi) The Company has taken Television contracts for execution like
Brown Bag, Gloe, Swan Princess-5 after the successful completion
and fine delivery of Swan Princess-4. Alpha & Omega, co-produced by the Company along with Lions Gate performed reasonably well with gross box office collection over US$ 50 million and sale of direct to video’s and television rights raising more than US$ 22 million in FY12. over US$ 50 million and sale of direct to video’s and television rights raising more than US$ 22 million.
(ix) The Direct to Video sales of “The Little Engine that Could”, coproduced by the Company with Universal Studios, are in line with their expectations and during the year, FY12, the US subsidiary received a total of US$ 300,000 from Universal Studios towards the subsidiary’s share. In line with the accounting practice followed by the US subsidiary, this amount has gone towards reducing the carrying value of the inventory.
various means like high-performance storage, workflow and asset management tools, grid computing based render farm etc. These deployments have enhanced project delivery capabilities removed bottle necks related to transfer of files and approval delays. Currently the Company is working on next-generation computing based on “Hardware Accelerators” for visualization and computation to increase the productivity of the studio at highest level. Crest is the only studio in the Asia-Pacific region working on such technologies to enhance the performance of studio.
adjusting losses and has not witnessed the loss of any of its critical clients nor the stoppage of work from them.
1. Crest Animation Inc. (CAI)
2. Crest Animation Productions Inc.(CAP)
3. Roop BDR Productions Inc. (RBP)
During the year FY12, the company entered into television contract with Moonscoop LLC for producing 13 episodes of 11 minutes each titled "Gloe". The company took television contract for Ireland based studio Brown Bag Films Ltd, for producing 52 episodes of television series titled "Octonauts".
(ii) The Company has accumulated losses of Rs. 30.72 Cr as at September 30, 2012. However, the company is confident to cover up this loss within a short time, as the business is picking up. Despite the overall negative sentiments prevailing in the business environment the Company was able to place a small portion of the treasury shares and is confident of completing additional placements in future.