'A river cuts through a rock not only because of its power but becauseof its persistence.'
I am delighted to share that your Company Sambhaav Media Limited (SML)has completed 30 years and during its journey spanning 3 (three) decades it's the onlymedia house from Gujarat which has not only grown but has seen expansion in all the 3(three) verticals of media: Print and digital FM Broadcast and Electronic. Additionallythrough its subsidiary Ved Technoserve India Private Limited the SML has entered intoelectronic/ electrical techno craft a new sector for us. The Media and EntertainmentIndustry is always dynamic one that gets fueled by the innovation and imagination ofcreative fraternity. The new technological advances have empowered consumers not only toconsume content generated by the media but also to create content a phenomenon that hasexpanded the content pool.
Your consistent faith and support have enabled your Company to suitablystrategize and effectively execute FM Radio project in Gujarat and Jammu & Kashmirwhich is a historic milestone for all of us.
The FM Radio project for Leh and Kargil is in progress at an advancedstage and is scheduled to be completed in the 2ndquarter of FY 2020-21. The FMstudio space has been finalised at Jammu & Kashmir to operate the FM Radiobroadcasting and to have a regional connection with the audience there.
Let me share with you the rapid strides your own channel VTV news hasmade in adding new milestones in viewership as it has become number one channel in primetime. I can take pride to say that the VTV news channel with its path breaking publicinterest journalism has won the hearts of our growing viewers. Your Company has left nostone unturned to ensure we remain there be it investing in talent creating a pool orresources or upgrading technology and infrastructure. The Company has helped the channelto upgrade its studio to make it state of the art in September 2019 which was oncecompleted was inaugurated by the Chief Minister of Gujarat Shri Vijay Rupani. The VTV Newsanticipates sharp rise in its viewership in time to come.
As reported last year Our Company through its Wholly Owned SubsidiaryM/s. VED Technoserve India Private Limited has entered into the new foray of ELECTRICSMART POWER FENCE. M/s Bharat Electronics Limited (BEL) has assigned us a pilot projectfor the same at for "Pathankot Airbase." As we undertook its execution theauthority concerned modified its design with some changes that has resulted into somedelay and it's on way to be completed in the 2nd quarter of the FY 2020-21. Nowwe are in the process of obtaining further orders for the similar projects for security inareas of other Defense Airbase Private Airports Research Institutes and other public andprivate establishments.
At Wise TV deployment of latest technology and our loyal andhardworking workforce have ensured that we stay on the top. I am pleased to share herethat at Wise TV; we have achieved 99.5% run-time accuracy and delivered error-freeservice.
As we go further digital is the future particularly in the Media andEntertainment sectors. The digital content is here to stay and expand by the daynecessitating all media sector enterprises to go digital and find innovative ways toconnect with audiences and consumers. Your Company's latest timely initiativewww.vtvgujarati.com has in its budding stage made its mark in digital news andentertainment segments and has emerged as a powerful platform to take on establishedplayers operating in the sector. This new platform caters to more than 60 Lakh (sixtylakh) unique users and 4 Crore (four crore) page views every month. It has already becomeone of leading Gujarati digital news platforms to achieve over a million followers on bothFaceBook and YouTube; both tools have become integral to our industry.
Due to Covid-19 pandemic the Media and Entertainment sector is amongthe hardest hit as it has seen huge layoffs of manpower deep plunge in revenues owing tostandstill in the economy because of protracted lockdown and shutting of economicactivities. Despite an increase in the viewership on television channels and digitalplatforms monetisation and revenue earnings from these mediums see a downward curve atleast in the short run as revenues in the M&E sector depend primarily on advertisingspends which has seen sharp decline during the pandemic. At SML we have directed ourresources to the new needs of our clients and strengthened our expertise and workplacetransformation to be able to help them accelerate and scale in their digital endeavors.The Company has kept all FM Radio Stations running in Gujarat and Jammu & Kashmirdespite lockdown and provided entertainment to our audience in both states. At our workplaces we have taken all the requisite measures to ensure social distancing hygienepractices and sanitization of offices periodically to help in fight against the COVID-19pandemic and to ensure smooth functioning of operations.
We remain indebted to the generous guidance and support of ourpartners clients and government agencies of the states we operate in for theircooperation and support. I extend my heartfelt thanks to all my colleagues on the Boardfor their valuable guidance and critical support and their contribution in the governanceof the Company keeping in view the stringent regulatory environment. I would like tospecially acknowledge the commitment and dedication of the very talented and highlyqualified entire SAMBHAAV team working tirelessly during the entire lockdown period andafterwards during the COVID-19 pandemic.
|Thank you all. |
|Stay Healthy and Stay Safe! |
|Kiran B Vadodaria |
|Chairman & Managing Director |
|Sambhaav Media Limited |