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Entertainment Network (India) Ltd.

BSE: 532700 Sector: Media
NSE: ENIL ISIN Code: INE265F01028
BSE LIVE 15:23 | 18 Aug 799.90 0.35
(0.04%)
OPEN

805.00

HIGH

805.00

LOW

790.00

NSE 15:55 | 18 Aug 795.25 -0.20
(-0.03%)
OPEN

799.00

HIGH

803.00

LOW

786.90

OPEN 805.00
PREVIOUS CLOSE 799.55
VOLUME 140
52-Week high 1008.00
52-Week low 667.00
P/E 96.26
Mkt Cap.(Rs cr) 3,813
Buy Price 793.30
Buy Qty 10.00
Sell Price 799.90
Sell Qty 4.00
OPEN 805.00
CLOSE 799.55
VOLUME 140
52-Week high 1008.00
52-Week low 667.00
P/E 96.26
Mkt Cap.(Rs cr) 3,813
Buy Price 793.30
Buy Qty 10.00
Sell Price 799.90
Sell Qty 4.00

Entertainment Network (India) Ltd. (ENIL) - Chairman Speech

Company chairman speech

Today we can happily say that Mirchi as an FM radio broadcaster is only one of itsmany avatars. Its bouquet of 40 FM stations (soon to rise to 56) is still its biggest andmost well-known avatar. But the other avatars are becoming bigger as well. Mirchi ispresent in a very big way online as a streaming service on gaana.com with 16 radiostations as on date. It is available at Delhi’s T3 international airport catering toits 23 million passengers. And its presence on TV in the form of reputed and much-watchedannual award shows is extensive.

Apart from being heard everywhere Mirchi is followed extensively on Facebook andTwitter with more than 2.7 million of its fans following it on Facebook alone. Videocontent made by its creative team generates as many as 10 million views a month onYouTube. Its presence on broadcast TV is vast and growing. The Mirchi Music Awards in 8languages generate a gross viewership upwards of 165 million. Mirchi Top 20 India’smost followed countdown property is a big draw on TV too apart from being present weeklyon radiomirchi.com The Times of India and of course on Radio Mirchi itself. Thanks to itsstrong online and on-TV presence brand Mirchi and its star RJs are stars worldwide. Justask any NRI anywhere in the world if she has heard of Mirchi and don’t be surprisedto hear paeans being sung to the brand and its RJs!

Mirchi’s RJs and its programming team are the reason for its widespread popularityand visibility everywhere. Its RJs can be seen picking up awards at award shows in Indiaand overseas. In every city Mirchi’s RJs are the most well-known and loved radiopersonalities engaging more than an estimated 60 million listeners on a weekly basis.Mirchi is widely visible on-ground in numerous "activations" it organizes everyyear – inside colleges and residential colonies and in the areas of sports andentertainment. It organized more than 40 concerts last year featuring some of the biggestnames in Indian music – the likes of Arijit Singh and Sunidhi Chauhan.

Mirchi everywhere is the vision of the Company’s promoters its Board and itsmanagement team. We want to see Mirchi in every nook and corner of the country. To achievethat we participated enthusiastically in the auctions held by the government last year.We won 17 new licenses taking our tally to 49. We also acquired 4 stations from the TVToday group making it 53. And we hope to secure permission for 3 other TV Today groupstations taking our total to the currently maximum permissible 56 stations. Of these 56the core Mirchi brand will be available in 43 cities. In 12 cities additionally Mirchiwill be available as two channels. And lastly in 1 city (Hyderabad) it will have threechannels. It is the only broadcaster to have such an extensive network of 2ndand 3rd channels. That’s why we like to compare ourselves not with otherradio broadcasters but with the biggest TV broadcasters who have 2 GECs (GeneralEntertainment Channels) in their fold. Like Star group has Star Plus and Life OK as HindiGECs and Zee group has Zee TV and "&"channels so also does Mirchi have its1st and 2nd channels all over.

New auctions scheduled later this year (in Sept-Oct 2016) will see Mirchi extend itsfootprint to even more cities as the cap of 56 is raised. There is a whole new dynamismin smaller towns the ones we prefer to call "growth markets". The economicgrowth is getting more widespread with large new states hitherto laggards starting tojoin the growth bandwagon. Mirchi plans to enter such states in a big way acquiring largefootprints in economically vibrant states.

Mirchi is the biggest radio broadcaster by a mile. Our revenues crossed Rs. 500 croreslast year and ended at Rs. 508 crores. Despite a huge investment of over Rs. 710 croresin the auctions renewals of old licenses and in capex – and consequent reduction intreasury income – it still reported Rs. 100 crores in PAT. The next radio broadcasterhas revenues estimated at less than Rs. 350 crores.

All this has been possible because of the dynamism of Mirchi’s sales teams. Itssingle minded focus on providing solutions to clients rather than selling radio"inventory" has led to the creation of several new sales products. Our abilityto offer "multi-media solutions" to clients has made clients see us as marketingconsultants. Today we get briefed first on creative requirements and then on media. Wemake hundreds of creatives for our clients and are perhaps one of the biggest producers of"jingles" across the country.

Mirchi everywhere is possible because there is a huge public demand for "addingspice" to humdrum lives. Our Annual Report in 2011 captured this in its theme. Butour zest for this started much earlier….in fact when we began our journey in 2001.At that time our Chairman Mr. Vineet Jain said "once you’ve tasted Mirchieverything else feels bland". That mantra still guides us. We see ourselves as"boredom busters"; our mission is to remove boredom from our listeners’lives!

Thank you for believing in us and in joining hands in spreading Mirchi everywhere andin busting boredom everywhere!

Prashant Panday

Managing Director & CEO

(DIN:02747925)