The Indian Media and Entertainment (M&E) industry is a sunrise sector for theeconomy and is making high growth strides. Proving its resilience to the world the IndianM&E sector is on the cusp of a strong phase of growth backed by rising consumerpayments and advertising revenues across all sectors.
The industry has been largely driven by increasing digitization and higher internetusage over the last decade. Internet has almost become a mainstream media forentertainment for most of the people. Recent statistics and developments pertaining to thesector are discussed hereafter.
2014-2015 has been a turning point for the media and entertainment industry in India inmany ways. With the current governments optimistic outlook business sentiment hasbeen positive and strengthened by a number of growth promoting policy initiatives taken inthe recent months. A benign global economic environment and a stable central governmentlikely promoted the Economic Survey to suggest that India has reached a sweet spot andcould finally be launched on a double- digit medium term growth trajectory. Top globalinstitutes also seem to have an upbeat view on India.
In television advertising saw strong growth driven by the positive shift in themacroeconomic environment the emergence of e- commerce as a significant new advertisingspender. At the same time despite rollout of digital set top boxes the anticipatedimprovement in addressability increase in subscription revenues and more equitablesharing of subscription revenues continues to evade the industry.
The building blocks for future growth have been put in place in 2014 by offerings; suchas new spectrum for mobile ongoing digitalization in cable consolidation in exhibitionand Phase III auctions for radio. India now needs to ensure flawless and timely executionof these policies. In addition at a local level intervention such as speeding uppermissions for multiplexes live events and so on could go a long way in boostingconfidence and growth. With an advertising boost due to the ICC cricket world cup strongprojections for economic growth and a sturdy base of these building blocks 2015 seems tohold great promise for the industry.
Thus considering the market scenario and future projection the Company intend to keepup to its performance in the year to come so as to avail the opportunity provided by theindustry. During the year under review operational efficiency and due implementation ofbusiness strategy lead to revenue generation of Rs. Rs. 924765260 as against Rs.898820877 during the previous year. However the Company has recorded a net loss (aftertax) of Rs. 7060822 as against Rs. 2293267 last year. The financial statements havebeen prepared in compliance with the requirements of the Companies Act 2013 and GenerallyAccepted Accounting Principles in India. Please refer Directors Report in thisrespect.
|Mumbai ||Sincerely |
|Date: 5th September 2015 ||Rajendra Karnik |
| ||Managing Director |