Greetings Dear Shareholders,
Its my pleasure to communicate with you once again. Would like to take this opportunity
to congratulate everyone for the successful migration of Your Company from the BSE SME
Board to the BSE Main Board. This is a huge accomplishment and am sure it did make all
very proud and happy.
This could not be possible without the support of the shareholders.
After migration and listing on 25th January 2024, this is our first AGM.
The FY 2023-2024 has been very challenging for the Entertainment sector. The good news
is that there are signs of recovery as compared to the turbulent previous year. Worldwide
Theatrical and TV is the lowest performer mainly due to bad content and onslaught from
OTT. The consumer's behaviour being erratic with the shift in their preference to OTT. But
this was mainly due to non-satisfactory content being produced for Cinema. Ad sales and
consumption for Tv is at its lowest as well.
Besides this there is consolidation between the big players in Entertainment Industry.
Zee Tv - Sony merger, Disney - Star TV merger and subsequent on going acquisition of
Disney / Star Tv by Reliance Jio. Due to this there is a decision making paralysis within
the big players causing a tremendous slowdown in content acquisition and localization
business. Despite this slowdown, Your Company has performed well. We strategized our
business plans to concentrate more on Localization business as we had foreseen a great
demand for Localized content in such an eventuality, being extra cautious, play small with
reduced costs and test waters rather than be aggressive and repent later.
Building New Associations in FY 2023 -2024
Our associations with long standing partners / clients in Localization are firmly in
place with renewed contracts for dubbing in various Indian Languages. Besides our regular
partners we have associated with new You tubers, a new trend in content localization.
Though low on budget, the big volumes did help in maintaining our goals to an extent.
VROTT<> Amazon Prime integration has been very steady with good performance.
VROTT <> Tata Play Binge integration, another milestone last year, has been
maintained with the client being happy on the response to VROTT from the 5 million
subscriber base of Tata Play Binge.
VROTT<> BOOK MY SHOW / STREAMS, a transactional VOD platform which is at a
nascent stage but a potential revenue earner.
VROTT<> OTTPLAY a new association created will add more value and exposure.
Being aware the above consolidations would be time consuming, we preferred to build
more associations and create visibility this year without spends on marketing to overcome
the low in the Entertainment sector.
These associations helped retain our premium position in the market space providing
financial stability and growth for Your Company. Our Strategy to curb spends on Marketing
and integrating with above big players did go a long way to help Your Company in
generating revenues and attain a respectable market size.
This helped us recover the reported 18% loss in 1st half of FY 2023 to a
marginal loss of 5% for the FY 2023 - 2024. This could have been a profit but due to
decision paralysis within the clients certain projects were put on hold / delayed.
Outlook for Year 2024 - 2025 SCALE UP
2024 - 2025 is the year to be aggressive with integrations, associations and
syndications. While the big players consolidate, we will focus on building new
associations and service partners for Localization and scale up the business.
Dubbing / Localization, our strategy of competitive costs with our existing partners
and addition of Jio Cinema we are expecting to increase our revenues gradually by approx.
50 - 60 % or more.
We are focusing on building a revenue stream from advertising on VROTT with
associations with Telecoms like Jio and Airtel who have more than 350 million subscriber
base. We are positive this will help scale up revenues multifold for your Company. We are
in talks with some leading Advertising agencies as well for an association to create ad
revenues on OTT platform.
We are aggressively looking at syndication of our content with various platforms and
media to generate additional revenue as well. There is a huge appetite for content and we
will be pushing this revenue stream to the fullest.
As we speak, a few associations are being negotiated which when materialized could
result in exponential growth.
With this aggressive approach for expansion in Distribution network, Your Company
should be able to scale up operations multi fold and generate profit in the coming years.
Having declared a 7:1 bonus for the shareholders, we are happy to have created wealth
for our shareholders. The positive outlook can be gauged by the fact that maximum of the
shareholders have remained committed to the company and have refrained from exiting their
faith in the Company and the Management itself. Your Company and the Management highly
appreciates our investors strong belief in us and is thankful for recognizing our hard
work and belief.
We will continue in our efforts in transforming the company to a vibrant energetic
company with focus on building strong fundamentals and high growth targeted at creating
shareholder wealth. With the Dubbing vertical well established on a growth model, Your
Company will be aggressive in the Digital segment in times to come and VROTT - Global ka
Local will soon be a Global player in the OTT space with SVOD and AVOD models.
Would like to end this speech with Best Wishes to all.
Take Care and Be Safe.