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Panoramic Universal Ltd.

BSE: 531816 Sector: IT
NSE: PANORAMUNI ISIN Code: INE194B01029
BSE LIVE 13:41 | 18 Aug 7.81 -0.13
(-1.64%)
OPEN

8.61

HIGH

8.61

LOW

7.73

NSE 15:31 | 18 Aug 7.95 -0.15
(-1.85%)
OPEN

8.30

HIGH

8.30

LOW

7.50

OPEN 8.61
PREVIOUS CLOSE 7.94
VOLUME 2775
52-Week high 15.65
52-Week low 6.69
P/E
Mkt Cap.(Rs cr) 61
Buy Price 7.75
Buy Qty 10.00
Sell Price 7.90
Sell Qty 199.00
OPEN 8.61
CLOSE 7.94
VOLUME 2775
52-Week high 15.65
52-Week low 6.69
P/E
Mkt Cap.(Rs cr) 61
Buy Price 7.75
Buy Qty 10.00
Sell Price 7.90
Sell Qty 199.00

Panoramic Universal Ltd. (PANORAMUNI) - Chairman Speech

Company chairman speech

Your Company continues to manage and operate the Hotels / Resorts / Club properties ofits Group Companies which have substantial contribution to the revenues of the Company.During the year the revenue from hospitality business and other ancillary businessactivities has shown a growth of 20 percent vis-a-vis previous year on a standalone basisand a growth of 19 percent vis-a-vis previous year on a consolidated basis. The Group'sproperties are spread all over India and overseas in USA Thailand

Singapore and UAE. The properties of the Group cater to all categories of tourist rightfrom the leisure travelers family outings pilgrimages to business travelers businessmeets conferences etc.

The Company's IT division develops customized software solutions for a wide range ofindustrial applications that empower you to make real-time decisions manage productionexecution performance and maximize profitability. The Company among others caters tomanufacturing and distribution commercial hospitality airlines and service industries.The IT Division offers Software Development and Consultancy Services Web DevelopmentSystem Integration Conversion Reengineering and Maintenance Information SystemsPlanning (ISP) and Need Analysis and Onsite Consulting. During the year the IT divisionhas faced a major hit due to cancellation of one of the major work order. However with theupswing in the economy the Company expects to perform better in the current fiscal.

Growth in the global economy is projected to be more gradual in this fiscal at 3.2percent. In advanced economies a modest and uneven recovery is expected to continue with agradual further narrowing of output gaps. Growth in emerging market and developingeconomies is projected to increase from 4 percent in 2015 - the lowest since the 2008-09financial crises - to 4.3 percent in 2016. The picture for emerging market and developingeconomies is diverse but in many cases challenging. Risks to the global outlook remaintilted to the downside ongoing adjustments in the global economy a generalized slowdownin emerging market economies gradual slowdown and rebalancing of economic activity inChina lower commodity prices and gradual tightening in monetary policy in the UnitedStates are the main factors for these conditions.

I ndia continues to remain a bright spot in the otherwise bleak global economicforecast of the IMF. As per the World Economic outlook released by the IMF India will bethe fastest growing major economy in 2016-17 growing at 7.5 percent driven by privateconsumption ahead of China at a time when global growth is facing increasing downsiderisks. Sustaining strong growth over the medium term will require labour market reformsand dismantling of infrastructure bottlenecks especially in the power sector.

The outlook for Travel and Tourism in 2016-17 remains robust despite economicfragilities and other sources of volatility in the wider market. The sector's GDP growthcontribution is expected to accelerate and again outpace growth of the wider economy.Stronger growth in this fiscal is likely to be underpinned by an improving global economy.The lowest oil prices in more than a decade will continue to boost demand through lowertransport costs whilst household finances and disposable income will benefit from reducedenergy costs which would produce betterscope for tourism.

Travel and Tourism is the third largest foreign exchange earner for India. India'sTravel and Tourism industry is expected to grow by 7.5 percent in this fiscal fueled byvisa reforms medical tourism which is better than previous year as per World Travel &Tourism Council. Tourism is also a potentially large employment generator besides being asignificant source of foreign exchange for the country. There is a requirement of morehotel rooms than available in order to cater to rising demand from tourists. The country'spotential is huge as there are still many cities and towns that have no branded hotels.Hence there is a huge demand in this sector which still remains untapped. As per IBEF(India Brand Equity Foundation) online hotel bookings in India are expected to double by2016-17 due to the increasing penetration of the internet and smart phones. Modern hotelguests also expect "personalized model" of guest service from the hotels. Inaddition cloud Software as a Service (SaaS) is increasingly been adopted by hoteliers asan alternative to on premise web servers which provides latest updated version as well ascost effective. The Company is also trying to increase its presence in the web arena ITindustry is hit by currency volatility and unstable political environment in key markets.Due to which NASSCOM has lowered the forecast for export growth in 2016-17 to 10-12percent against the 12-14 percent increase in exports in constant currency terms in theyear 2015-16. The rupee has weakened about 2 percent against the dollar in the last closedfinancial year. The uncertainties in terms of the global economy political environmentthe pressure and imperative to adopt technology especially digital technology continuesunabated. It is an important part of the survival of any company.

In view of conservation of resources the Board of the Company has decided not todeclare dividend. Trust our shareholders will stand by us in this decision which isforthebetterment of the Company in the long run.

Last but not the least I would like to thank and salute our dedicated employees fortheir commitment and hard work working rigorously towards the goal of the Group I alsotake this opportunity to thank our shareholders government authorities bankerscustomers suppliers and all those who have been associated with the Group and others whohave consistently extended their support and shown confidence in us at all times.

Sudhir Moravekar

Chairman