Dear Shareholders,
The past financial year was characterised by struggle, hope and
recovery. As the pandemic started to subside, the world cautiously began to move towards
normalcy. But the pandemic wasn?t done with us yet (and still isn?t). Its
effects linger on; there are outbreaks from time to time, even if restricted to specific
geographies; but life, and work, go on.
The year saw inflation numbers harden and supply chain constraints
aggravate, initially on account of pandemic-related disruptions and sudden spikes in
demand caused by the return to normalcy, and, towards the end of the year, on account of
mounting geopolitical tensions. Together, these continue to act as strong headwinds to an
otherwise conducive business environment.
During these testing times, the Hindi daily of Hindustan Media Ventures
Limited (HMVL), Hindustan, served as a credible and reliable voice. A sharp focus on local
news complemented by a broad sweep of national affairs, and a modern and fresh outlook
enabled by a contemporary design have made Hindustan a thought leader in the industry. By
routinely and consistently delivering objective news, information, and analysis to our
readers through our media platforms, we managed to deal with all challenges that came our
way, serving both readers and advertisers. Our teams at HMVL worked on smart responses and
value propositions for our advertisers, even as they continued to engage our readers
across platforms.
Despite a rocky start and a tough operating environment last financial
year, we were able to close the year on a positive note. Advertising and circulation
revenues saw a significant jump with strong performance coming in the second half of the
year. We employed dynamic procurement and responsive inventory management strategies to
mitigate challenging material and input cost environments and successfully navigate
supply- side bottlenecks. During the year we undertook a revamp of our Hindi daily
Hindustan - the new tag line is
"Bharosa Naye Hindustan Ka" - with an eye on meeting emerging
reader and advertiser needs, and staying relevant and salient.
While providing value to our stakeholders, we at HMVL have never
stopped giving back to the community -- not only through what we do journalistically, but
also through initiatives and programmes aimed at public welfare and development.
‘Healthy Hindustan? and ‘Atulya Gram? are examples of some such
societal welfare initiatives undertaken by HMVL.
In the near term, the Indian Media and Entertainment industry is
expected to continue its recovery and eventually overtake pre-pandemic levels. Our company
is well positioned to benefit from this secular uptrend. Our focus remains on improving
business metrics and growing market share in the regional print segment. We aspire to grow
sustainably while providing value to all our stakeholders.
Serving as the backbone of our efforts are our most valuable assets,
our employees and management, who have worked diligently to fulfil our collective goals
and objectives. Our human capital plays a pivotal role in the growth and success of the
company. Our growth aspirations are founded upon the competence, determination and
flexibility of our teams and I convey my gratitude to them for their dedication and focus.
I would like to thank the Board of Directors for their guidance and
support. I also take this opportunity to express my appreciation for and gratitude to all
our shareholders; their faith in us, has helped us move ahead with resilience. I look
forward to their continuous support as we strive towards newer heights.
Finally, our readers and advertisers make us what we are, and I thank
them for their trust in our journalism, our brand, and our abilities.
| Regards, |
| Shobhana Bhartia |
| Chairperson |