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Pritish Nandy Communications Ltd.

BSE: 532387 Sector: Media
NSE: PNC ISIN Code: INE392B01011
BSE 00:00 | 09 Dec 41.65 -0.30
(-0.72%)
OPEN

42.55

HIGH

42.55

LOW

41.20

NSE 00:00 | 05 Dec 41.95 0
(0.00%)
OPEN

42.00

HIGH

42.65

LOW

40.75

OPEN 42.55
PREVIOUS CLOSE 41.95
VOLUME 2499
52-Week high 75.00
52-Week low 37.75
P/E
Mkt Cap.(Rs cr) 60
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 42.55
CLOSE 41.95
VOLUME 2499
52-Week high 75.00
52-Week low 37.75
P/E
Mkt Cap.(Rs cr) 60
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Pritish Nandy Communications Ltd. (PNC) - Chairman Speech

Company chairman speech

I welcome you to your Company's 28th Annual General Meeting.

It's unfortunate that for the second consecutive year we are having this meeting onlineand I will not have the pleasure of meeting you in person as I have done over the years. Iwill particularly miss the regulars those who turn up every year to ask questions voicetheir concerns if any shake my hand and wish us all well for the coming year. I hope youare all well and looking after yourselves and your families in these difficult times. Lifehas not been easy for many of us during the past 19 months.

I am hopeful our next meeting will take place under more normal circumstances. And wewill once again have the opportunity to discuss the many ambitious things your Company isplanning to do. The pandemic has of course slowed us down. And multiple lockdowns haveheld us back from moving ahead at the pace we had set for ourselves.

But enough of that. Every crisis brings its own opportunities. It appears that we havenow survived the worst and it's time to move ahead and try to make the best use we can ofthe rest of this year as we wait for the pandemic's intensity to further subside and lifeto return to some sort of normal. I know it may seem foolhardy to be so optimistic whenepidemiologists are still talking about a third wave. But hope and the indomitable spiritto succeed has seen your Company—as indeed this great nation of ours- overcome manycrises in the past and I am confident that we shall overcome whatever the pandemic may yetcast our way. It could take time. But I assure you it will not break our spirit.

During the past 19 months as millions of people across the world remained trappedindoors mostly at home there was an exponential rise in the consumption of digitalcontent. Largely entertainment. Scripted and unscripted. And this is precisely thebusiness we are in.

Subscribers of streaming services multiplied many times over as theatres shut down andwidespread cord-cutting shrunk audiences for cable and satellite content in many parts ofthe world. Millions of people shifted from watching traditional shows and serials to thenew kind of content that the world's leading streaming platforms offered. With technologyadvances quality improved. So did variety. More important the global market opened upfor content makers like us.

People across the world are now watching Israeli action drama Korean romancesdelightful French productions Mexican narco-thrillers Japanese horror stories Britishcomedies adventurous Spanish heists and popular American sitcoms. Modem technology hasdelivered them into our living rooms. For viewing at our convenience no longer byappointment. We watch them on our TVs our computers and laptops on millions of smartphones that have democratized the reach of compelling content. There is so much to watchand every week there are new shows new films new documentaries dropping. It's anopportune time for content makers to showcase their best work before the world.

Fortunately your Company has been one of the first movers in this business.

We started this Company 28 years ago to make news content for State-run terrestrialtelevision covering the national elections and debating vital political issues. Fromfireside chats with prime ministers to exit polls. From that we switched over toentertainment as the market opened up with the coming of satellite television and privatechannels. From TV content to motion pictures was a short journey. We successfully restyledour skill sets to produce movies that brought your Company both success and criticalacclaim. Five years ago as we watched the internet grow we anticipated the rise ofdigital streaming content and prepared ourselves to shift gears again.

Our shows and movies are watched in 200 countries across the world in many languagesdubbed and subtitled reaching a massive global audience. In India our viewership hasgrown exponentially with the increasing reach of streaming platforms.

At 28 we retain the indomitable spirit of a new start-up constantly innovatingconstantly coming up with new ideas for changing audiences. Talking to them in a languagethey best understand.

In the midst of a raging pandemic we got one of the highest accolades in the businesswhen our series Four More Shots Please! won an international Emmy nomination last year.The New York Times reported Amazon's content head declaring the series as theirmost-watched show out of India. This was followed by several other top awards like bestscript from the Screenwriters Association best web series at the 6th Annual Web SeriesFestival Global in Los Angeles and Asia's Best Rising Star Award at Busan's Asian ContentAwards. Cosmo bloggers voted us as their favourite show.

The pandemic also gave us time to create and write new shows some of which have beengreenlit for production. Last month we restarted filming Season 3 of Four More ShotsPlease! which was interrupted by the first lockdown in March 2020. We will also be on thefloor this year with a major show featuring six famous Indian directors- for a leadingglobal streaming platform in association with the world's most famous newspaper. As asmall experiment we also went out during the pandemic and made a short film for theAmazon anthology Unpaused with two actors and four crew members on the sets. This briefexcursion in Covid times won us much critical acclaim.

Currently we are working on several new shows and movies. A fascinating repertoire ofcontemporary campus stories; a new age musical; a family drama; a modem day love storywinding itself across different continents; an edgy thriller set in a picturesque baroqueseaside locale; a gender-busting heist with a subliminal twist; an exotic romance in theheart of decadent royalty; a spectacular adrenaline-driven fantasy adventure tale; and astory about the princess inheritors in the uber-rich jungles of South Mumbai. Quite a lotactually.

As formulaic content yields way to new age shows your Company leads the change. Forus the future is here. And this is the best time to quickly repair our wounds from thepandemic and get back into the thick of battle. To win over audiences with the kind ofstories we enjoy telling. All of them developed inhouse under the creative leadership ofour own show-running team.

Another matter of pride is that we have improved upon the gender ratio in the business.A recent study by Ormax showed that women held barely 8% HOD jobs in the making ofcontent. Our shows have more than 50% women working on them. We believe in pay parity too.Women are well represented on our board of directors as well.

Unfortunately we recently lost two distinguished board members investment bankerUdayan Bose and media expert Pradeep Guha both independent directors. Mr Bose was with usfor over a decade and headed our audit committee. Mr Guha joined more recently. Both werealways available for advice support and guidance. We place on record our gratitude fortheir contribution and convey our sympathies to their bereaved families.

Renowned actress and Member of Parliament Hema Malini also on our board as anindependent director for over a decade recently stepped down to be able to spend moretime on relief work during the pandemic. We shall miss her gracious presence her support.

Finally I thank all our stakeholders. Our clients business associates talent andcrew; our bankers; our vendors— and all members of Team PNC who worked againstimmeasurable odds to keep things going during these difficult months despite manypersonal tragedies. Even now they are working under severe restrictions. Theirfearlessness their dedication their unwavering faith in the future of your Company willhopefully go a long way towards our returning to business in full strength.

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