Dear Valued Shareholders
I extend my Warm Greetings to you all!
On behalf of the Sea TV Board of Directors I am happy to welcome youto the 16th Annual General Meeting of your company.
Thank you for your presence here today and for your continued supportand goodwill that is critical to the success of our company.
While this was a year of extreme economic challenges for the worldnever had we imagined an environment aggravated beyond measures by Covid-19 pandemic.According to the World Bank the global economy decelerated to an estimated 2.4 percent in2019 the slowest pace since the global financial crisis. The macro-economic factors thatcaused a slowdown in FY 2019-20 will continue in FY 2020-21 with the first half ofcalendar year 2020 completely dominated by the pandemic and the consequent lockdowns. TheCOVID-19 pandemic has created an extreme pressure on global economies and has severely hitmany industries to this slowdown and challenges.
Going forward the Covid-19 pandemic may have an extended impact anddespite the bleak macroeconomic scenario in the near term we wish to remain optimisticand recalibrate
Growth strategy to address these challenges and to make use of the newopportunities.
Your Company's revenue stands at Rs. 14.80 Crore (as against Rs.12.15 Crore in the FY 2018-19) increase of 21.82 % over the previous year from its mainoperations of Broadcasting cable operations and advertisements & has incurred loss ofRs. 3.13 Crore during the period under review.
We have the confidence to rise to the many challenges and to retain ourmarket leadership position over the country and improve our competitiveness. We arecommitted to enhance the scale competitiveness efficiency and productivity of ourbusiness benchmarked to global world-class standards. We believe these commitments andbeliefs will contribute to the successful accomplishments of all our future growthendeavors.
Before I conclude I would like to acknowledge that all these have beenpossible only due to the relentless and dedicated effort and hard work by the employees ofthe Company and also like to thank other stakeholders - our clients vendors and partners- for their trust and support.
Further I also place on record my sincere gratitude to thegovernments ministries and departments of our country and state that we operate in fortheir continued support. And of course I look forward to your continued support and bestwishes. It will certainly be our endeavor to put in our best efforts for sustained growthexpansion and prosperity of the Company benefitting all stakeholders.
|Neeraj Jain |
|Chairman and Managing |