We started our journey as a small video cassette retail shop in 1983. Over the years, we or the group has adapted to change as per our core customer’s i.e. our viewers and blended the requirements of them in various categories from youth to old aged, thereby covering all the ages to improve our customer connectivity rather than just producing content what we want. For eg. we have been like to parents to our customers (children) thereby providing essentials what they want.
As you know, we are already into content aggregation and distribution for broadcasting on television platforms, and production and co-production and distribution of Indian movie rights, as well as by foraying into the digital space. Now we have ventured into new segment of film distribution business also.
Further to the above, we have also got rights of Film Distribution for movies like “ZERO”, “The Accidental Prime Minister”, “BADLA”, and “Mere Pyare Prime Minister” etc.
Hence, now, we are one of the largest and well-diversified Media & Entertainment (M&E) corporate groups. We also have longstanding established relationships across the M&E industry.
The M&E industry has been undergoing a rapid transformation over the last few years, with the beginning of new era of digitization. Indian theatrical revenues are increasing at a fast pace, driven by increased footfalls and higher average price of tickets. In movie production and distribution, Pen India continued to drive higher growth backed by the industry’s demand for fast-growing multiplexes and digital platforms. We have continued our strategy of expanding our movie content library and investing in quality content. India is currently witnessing a digital revolution, with content consumption increasing multi-fold across platforms. We are well positioned to benefit from the rapidly growing M&E industry.
Looking at the past up to June 2016, given advise / service and agency when Zee purchase movies worth more than 4000 Crs. In last 12 years of association. We are the only players and became leaders in purchase and with continued relationship with Shri Subhash Chandra of Zee Entertainment Enterprises Ltd. and Dhirubhai Shah of Time & Gold Video, so we are one with them and now our aim is to advise our children Dhaval and Akshay to educate more on Media Business.
Currently after 2016, we have purchased more than 250 movies for our company and aim to acquire 100 movies in a year, so we have can best library soon.
Our company’s main focus for this year with support of the Bankers / Vendors / Producers to become largest content Buyer and Seller of the country. We are extending our Business now for Satellite/Distribution/Digital division etc..
We are now 100% equipped with all types of Technology / Team and best organization in among all the media organization’s now. We are focussing on giving good content to our viewers by any medium Theatrical / Digital etc…
The Financial Year 2018 – 19 was indeed eventful for our company, as was an aim to penetrate the market with reaching to all the masses. Our company’s Total income for the year was INR 326.5 cr compared to last year’s INR 175.5 cr. Our Profit After Tax was INR 29.8 cr against last year’s INR 20.2 cr, clocking 48% growth in our YoY profitability. This growth was primarily driven by another year of strong performance in our movie production, and distribution, film distribution and sale of rights businesses. We also closed the year with record EBITDA margins of 17%. India’s high GDP growth rate along with rapidly-growing disposable incomes, presented a great opportunity for growth in the M&E industry. With the exception of print media, all segment of the M&E industry are expected to grow at double digit rates for the next five years.
As said earlier it was a roller coaster ride for us due to government policies like, demonetization, GST impact etc. But we sustained the impact due to diversification of business and restructuring of our Business.
Equipped with a strong balance sheet, a large content library and our more than three decades-long standing in the M&E industry, we will continue to capitalize on new opportunities. I believe that our company has strong business visibility for the next few years and will leverage multiple monetization channels as facilitated by the digital revolution. We are ready to capitalize the strong growth opportunity presented by the M&E industry and hope to generate good top-line and bottom-line growth for next few years. I would like to thank you for your continued support and trust in the Pen Group. I would also like to thank our dynamic workforce who is the main reason for our success story. I remain grateful to all our stakeholders and assure you that we will continue our quest to build a wholesome family.
Thank you.
Yours sincerely,
Dr. Jayantilal Gada
Chairman & Managing Director
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