ANNUAL REPORT 1999-2000
ATN INTERNATIONAL LIMITED
Chairman's Speech
Dear Shareholders,
I extend you a warm welcome to the 16th Annual General Meeting of your
Company.
The Annual Report together with the statement of Accounts and Auditors'
Report are already with you and with your permission I shall take them as
read.
At the outset, let me express my heartfelt gratitude to all of you for the
patience and understanding you have shown while ATN International was
passing through critical period. After passing through a bad phase we are
now on the path of growth and success.
I am happy to inform you that your company's performance during-the year
under review was excellent despite widespread difficulties in economy of
the country. The overall revenue of the Company has gone up by Rs. 510.65
lacs representing an increment of 356.45%.
The Company's operations have resulted in a positive cash flow. Performance
of our Satellite channel i.e. ATN Bangla has shown healthy improvement. You
will be proud to know that ATN Bangla is India's first 24 hours Bangla
variety entertainment Channel commanding major chunk of viewership of
Bengali programmes in West Bengal, Bangladesh, North Eastern States and
other parts of the country. Your Company has consolidated its position in
Regional Channel segment. ATN Bangla has become a digital channel with
effect from 1st May,2000. After much persistence, our efforts have now
yielded the first fruits of success, thanks to the unfailing dedication and
commitment of the management and employees of your company.
OUTLOOK
Your company's second digital channel ATN World has been launched from 27th
June, 2000. ATN World is a Bangla entertainment channel and will feature
software produced in India. Your company is also planning to commence
export of entertainment software. The focus in the coming year will be to
further improve our position and profitability. I am happy to say that a
beginning has been made in this direction. The Company has entered into an
agreement with Devgan Entertainment Software Ltd, promoted by Film Stars
Ajay Devgan and Kajol, for production of a 500 episode mega serial named
Mukhosh, to be directed by Shri Partho Ghosh. New programmes, value added
features and quality will be pursued to maintain the position.
Our basic objective is to ensure sustainable success and value creation for
our shareholders, employees and the community at large. The management is
in the process of identifying and developing additional programs/software.
These steps are expected to ensure further growth and success to the
Company. The Board of Directors is optimistic with the present activities
of the Company and the positive trend in the software business, which is
expected to perform better in the coming years. The Company would continue
its effort to become stronger and more efficient. All the work processes
are now being redefined to align the organisation with the new business
order. Changes are the rule of nature and only those who follow this maxim
and work ahead to face the future with greater determination will survive.
In keeping with the changing times, your company is gradually moving out of
the Non Banking financial activities. It is liquidating its investment in
shares and securities at the first suitable opportunity.
I would take this opportunity to express my sincere gratitude to the
shareholders, bankers, clients and the government agencies for their
continued support and my colleagues on the Board for their valuable advice
and guidance. The Board also whole heartedly acknowledges with thanks the
dedicated efforts of all the staffs and employees of the Company.
In conclusion, I can say we have reached upto a stage where we can be
optimistic about future and your directors are confident to do much better
in the new millennium.
With Best wishes and Regards,
Yours Sincerely,
Santosh Kumar Jain