INOX LEISURE LIMITED
ANNUAL REPORT 2006-2007
We look back with satisfaction on an eventful and successful FY 2006-07 - a
landmark year for INOX, both strategically and operationally. Our
stakeholders and employees have good reason to be proud of last year's
* Our turnover for the year ended March 31, 2007 went up by 49% YOY to
* Our properties under operation went up to 14 in FY06-07 from 9 at the
beginning of the year.
* Footfalls were up 48% to 9283496 in FY 06-07 from 6268669 in FY 05-06.
* We declared a maiden dividend of 10%
As INOX Leisure Ltd. continues to expand with tremendous momentum, what
sets us apart is a deep commitment to innovation and the ability to tap
into the needs and aspirations of our patrons.
In 2006, INOX Leisure Ltd. successfully navigated different market
environments without losing momentum in meeting our goals. It was also a
year that validated the strategies we began implementing more than five
years ago - widening our reach geographically, while maintaining strict
operating discipline and keeping a keen eye on the bottom line.
Our acquisition of Calcutta Cinema Private Limited (CCPL) marked the
beginning of the consolidation phase in the multiplex industry. This merger
has now been approved by the High Courts of both Gujarat and Kolkatta, and
is now awaiting the completion of procedural formalities. Our partnership
with the Pantaloon Group is the first of its kind in India and INOX at
Milan Mall, Santacruz will be the 1st single screen from INOX and the first
property launched as a result of this tie up.
We are accustomed to setting the pace for this industry when it comes to
big ideas and innovations. That will not change, and neither will our
commitment to building long-term, sustainable value for our stockholders.
We have big opportunities ahead of us and an enormous responsibility
towards stockholders, customers and employees. We are committed to making
the most of your investment and to delivering industry leading innovation
In closing, I would like to thank you on behalf of the Board of Directors
for your trust and support. We will do everything in our power to live up
to the expectations placed in us for 2007.