24 Jul, 12:39 - Indian

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Chairman's Speech

I am delighted to communicate with you. Hope you are fully vaccinated; family and friends are in the best of health and have been safe in the devastating 2nd wave onslaught of the dreaded pandemic. The 2nd year after listing has been very satisfying. Once again Your Company has successfully achieved in its belief in maintaining a long term relationship and in building a strong client base for the business. In spite of the pandemic, 2nd wave, Your Company has performed well and has lived up to its belief. In restricted covid times this belief has helped it achieve approx. 11 % growth compared to the previous year. Thus, the focus is on maintaining strong relationship with existing and new clients who will help the company in gaining competitive advantage in acquiring more clients and increasing the business volume.

Milestones which were achieved by your company in the financial year 2019 -2020 continue very strongly and have maintained financial stability and growth for Your Company.

On 2nd January 2020 Your Company had started an association with Prime Video Direct, an Amazon Prime company to distribute its content on the Amazon platform. In 2021 we continue our association.

On 10th January 2020 your company was approved by Netflix as a Post Production Partner for Localization. Only 30 -35 studios across the World have achieved this milestone. MX Player, Epic have also tied up with VR Films and Studios for Localization expertise in January 2020 itself. Our associations continue with them firmly and strongly.

These associations have helped us sail through the pandemic with continuous flow of work though in limited capacity. In the past 1 year many studios and competitors had to close shop which was very unfortunate.

Having smelt the coffee much earlier Your Company has proved, it is at the Right Place at the Right Time with its Content Acquisition and Localization activities.

The outbreak of corona virus has had a severe negative impact on most of the economies of the World. Many MSME's & SME's are hugely impacted by this disaster pandemic.

However Your Company continues to stay ahead of the curve and ride its upward trajectory in COVID-19 crisis. Prudent accounting policy practise of Your Company and being tight fisted with sheer hard work and dedication of all employees Your Company would have posted a much higher profit had the 2nd wave not set in February 2021.

In tune with the Company's shareholder friendly policy Your Company had proposed an Interim Dividend of 10% for the shareholders and has now proposed a Final Dividend of 10 % as well to all 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.

Your Company will continue to reap in the benefits of its association and tie ups in this coming year.

Future Prospects….. Outlook in 2021 2022

New clients (big players in the market) have approached Your Company to associate and provide localization services. Negotiations are on and would soon fructify into a long-term association adding up a multi fold revenue stream. With the huge demand for localization Your Company is on an expansion mode.

In July 2021 we have started built up for additional 10 multi-purpose studios which include 2 Dolby Atmos Theatres (with additional 2.0 dub ability), 2 Dolby 5.1 Mixing studios (with additional 2.0 dub ability), 2 stereo dubbing studios all under one roof in Mumbai. This would increase our out-put capacity multi fold from existing 400 hrs a month to approximately 800 1000 hrs.

Another huge achievement would be the development of our own OTT platform. With this development Your Company would be entering into Consumer service market. Hopefully this should go LIVE by October 2021 / November 2021.

Our Content Acquisition vertical is on expansion spree as well. With our upcoming OTT platform, we would be acquiring more content. We have recently acquired 14 New International Feature Films for FY 2021 2022 and are negotiating acquisitions of various web series and Tv series for our OTT Platform. Approx 1000+ hrs of content would be acquired in the coming year.

Meticulously planned expansion has been worked on and the coming years will see Your Company as one of the big players in OTT and Entertainment space catering to Consumer audience directly.

The coming years will envisage a huge multi fold growth in turnover as well as profit with substantial Dividend year on year.

With these huge growth expansion developments Your Company envisages to migrate to the main board very soon. We aim and desire to migrate not just to BSE main board but both NSE and BSE main board.

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.

Would like to end this speech with Best Wishes to all.

Take Care and Be Safe.
Manish Dutt
Managing Director