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 you to the 15thAnnual General Meeting of your company.
Thank you for your continued support and goodwill that is critical to the success ofour company.
The Indian Media and Entertainment (M&E) industry is a sunrise sector for theeconomy and is making high growth strides. The M&E industry has grown at approximately11 % in the last year and is expected to keep the momentum with CAGR 13 % this year. Ithas been instrumental in proving its resilience to the world the Indian M&E industryis at crossroads on the cusp of strong growth backed by rising consumer demand andbolstering advertising revenues. The industry is expected to grow at a much faster ratethan the global average rate.
Your Company's revenue stands at Rs. 12.15 Crore (as against Rs. 14.39 Crore in the FY2017-18) decrease of 15.56 % over the previous year from its main operations ofBroadcasting cable operations and advertisements & has incurred loss of Rs. 7.63Crore during the period under review.
Recently Telecom Regulatory Authority of India ("TRAI") implemented a newregulatory framework for the television broadcast industry of India - the New Tariff Order("NTO"). The NTO popularly known as the MRP regime offers affordable pricing tothe end customer and further improved television's value proposition for consumers byempowering them to select and pay for content of their choice.
The Broadcasting sector is in the midst of a changing ecosystem; given the backdrop ofthe New Tariff Order. The impact of the TRAI tariff order can have implications on totalviewership free television uptake channel rates and ad revenue.
We have the confidence to rise to the many challenges and to retain our marketleadership position over the country and improve our competitiveness. We are committed toenhance the scale competitiveness efficiency and productivity of our businessbenchmarked to global world-class standards. We believe these commitments and beliefswill contribute to the successful accomplishments of all our future growth endeavours.
Before I conclude I would like to acknowledge that all these have been possible onlydue to the relentless and dedicated effort and hard work by the employees of the Companyand also like to thank other stakeholders - our clients vendors and partners - for theirtrust and support.
Further I also place on record my sincere gratitude to the governments ministries anddepartments of our country and state that we operate in for their continued support. Andof course I look forward to your continued support and best wishes. It will certainly beour endeavor to put in our best efforts for sustained growth expansion and prosperity ofthe Company benefitting all stakeholders.
|Neeraj Jain |
|Chairman and Managing Director |