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Siti Networks Ltd.

BSE: 532795 Sector: Media
NSE: SITINET ISIN Code: INE965H01011
BSE 00:00 | 22 Oct 2.00 -0.10
(-4.76%)
OPEN

2.00

HIGH

2.00

LOW

2.00

NSE 00:00 | 22 Oct 1.90 -0.10
(-5.00%)
OPEN

1.90

HIGH

1.90

LOW

1.90

OPEN 2.00
PREVIOUS CLOSE 2.10
VOLUME 181410
52-Week high 2.97
52-Week low 0.50
P/E
Mkt Cap.(Rs cr) 174
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.00
CLOSE 2.10
VOLUME 181410
52-Week high 2.97
52-Week low 0.50
P/E
Mkt Cap.(Rs cr) 174
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Siti Networks Ltd. (SITINET) - Chairman Speech

Company chairman speech

Our numbers bear testimony to the success of our focussed on-groundinitiatives. During the year our concerted measures to improve efficiencies havetranslated into overall improvement in operational metrics. This growth has largely beenfuelled by our deep ground connect with our 24000+ LCO partners spread out across thecountry. Leveraging our powerful technology edge we created stronger touch-points for ourpartners to reach out to SITI at the one end and our customers at the other. Concurrentlywe harnessed this strength to open new revenue sources by onboarding allied services whichhad synergies with our distribution model.

The business-wide transformation unleashed by our multiple initiativesnot only aligned SITI more intricately to the change that swept the industry in thepost-NTO regime but also helped make effective use of the new opportunities triggered bythe transformation. With our consumer-first approach guiding our strategy we continuedduring FY 2019-20 to enhance the experiential quotient which underlines the SITIproposition for the growing base of its customers.

At the same time this evolution has paved the way for us to adopt thenew-age IoT culture that is progressively capturing the imagination of more and moreIndians. The robust platform that we have built and our expansive reach that spans 800+locations across 249 districts has equipped us to be an active part of this new digitalrevolution sweeping the country. We feel that the time and technology is right for us togo beyond Video Content and scale the next level of Broadband growth by providing ourcustomers with IoT - enabled equipment and services. The fact that 43% of cable operatorsare still not selling cable internet (as per a survey-based study by INTIN on Cable TVFitness Check) underlines the huge potential for Broadband growth across the country.

Given the large opportunity landscape that still exists we havejudiciously focussed ourselves on augmenting the SITI foundations for future growththrough strategic initiatives aimed at building a future-proof organisation. Therobustness of these foundations can be gauged not only from the fact that we haveefficaciously managed the fast-paced changes triggered by NTO 1.0 but also from ourbalanced response to the COVID pandemic. Even in the testing times of the Coronavirus wecontinued to handle the needs of our LCO partners and our end customers seamlesslywithout any disruption of service. The recognition of Cable TV and Broadband service asessential service during the pandemic helped us keep growth on track while ensuringbest-in-class services to our customers.

Needless to say this would not have been possible but for thecollective and selfless efforts of our team which in line with our consumer-centricphilosophy fearlessly put the interests of customers before their own through thisunprecedented crisis.

I am sure with extensive ground connect continuous optimisation ofoperational efficiencies and the hard work of our dedicated teams SITI would be able todeliver the best services to our customers for years to come.

Best Wishes
Dr. Subhash Chandra

.