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Pyramid Saimira Theatre Ltd.

BSE: 532791 Sector: Media
NSE: PSTL ISIN Code: INE165H01018
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Pyramid Saimira Theatre Ltd. (PSTL) - Chairman Speech

Company chairman speech

PYRAMID SAIMIRA THEATRE LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT Pyramid Saimira Group started its Exhibition division from South India - Tamil Nadu in Nov. 2005. Right from the beginning, through the fiscal years of 2006 and 2007, it has been an incredible vertical take-off. Initially only into exhibition, the Group adopted integration across different segments and ventured into distribution, production and post-production and also expanded the company's footprint into other geographies, including Malaysia, Singapore, UK, USA and has now entered even the last frontier- China Parallel developments included the Group's foray laterally into activities like post production, media advertisement, radio, magazines, DTH and of course, Food & Beverages. It has been an exciting journey; however, not without challenges and hurdles. Along the way, it is true that we have faced pit falls like aggregation of risk, leakages in the system, lead and lag between concept integration to process integration, non-sink of systemized culture, across the board corruption, misappropriations and of course business and non- business competition. Despite this, the group has significantly succeeded to a large extent in integrating the last mile of film industry and has further taken this growth model to tier II cities, thereby creating a holistic integrated business model. The group has expanded its management bandwidth, creating a highly systemized process orientation, high level of corporate governance, and implementing proper internal control mechanisms. We have undertaken the expansion of the management bandwidth with a lot of caution. And indeed, the growth of the business is testimony to the strategic vision of the company. Though long-standing empires are created by strategic vision, they are sustained by only long drawn tactical brilliance. The current focus is to consolidate and successfully stabilize the growth momentum, reduce the leakages in the system, improve the processes, improve the average revenue per user, utilize the huge customer connect we have (possibly 2 Million users a day) and of course, improve structural stability, financial stability and have a balance sheet which reflects its growth and also fully stable in its assets and liability match. The management is working towards long-term consolidation of the company and the various businesses that we are involved in. We believe that we will achieve this Herculean task in the same way that we have recorded tremendous growth. And once we achieve this, we have no doubt that Pyramid Saimira Group will create unparalleled history in the field of Entertainment and Media. Different people approach change differently, especially when tough times set in. Some people fully resist it, some people try to avoid it, some try to mitigate it, some welcome it, some accept it, some adopt to it and some exploit it. Our philosophy is to create the next change. We do believe that change is not something that can be predicted; it should be created. We do not believe that the sky is the limit; we believe that we can go far and beyond. Optimistically yours, P.S. Saminathan Chairman and Managing Director PLace: Chenmai, Date : 30th November, 2008