Thank you for your continued support and confidence in us that you have
demonstrated so far. It is with the strength of your trust, that WWIL
is today amongst the leading Multi System Operators (MSOJ in India and
is poised to play a pivotal role in the Indian cable TV industry.
According to FICCI - KPMG Indian Media & Entertainment (M&E) Industry
Report, 2010 has been the year of resurgence for the industry.
Overcoming the gloom that had set in during the economic slowdown, the
Indian M&E industry bounced back in 2010, registering a growth rate of
11 % compared to a mere 1.4% in 2009. This growth was primarily driven
by the increased spends by advertisers across all media platforms. As
the industry braces for exciting times ahead, the sector is projected
to grow at a CAGR of 14% by 2015.
THE ECONOMY TO WATCH FOR
The consistent economic growth of the country is translating into
definitive improvements of socio - economic indicators. What is even
heartening is the fact that the impact is being seen at the farthest
mile, courtesy the agenda of inclusive growth that the country is
following. First results of Census 2011 reflected a notable improvement
in literacy rate and gender ratio while the population growth rate
showed a decline.
The decade gone by was the period of consolidation and the ensuing
decade will mark the phase of acceleration for India, in my view. The
period will be marked by rapid urbanisation, growing consumerism and
TELEVISION WILL GO DIGITAL
Indian television industry has truly come of age and has added almost
TOO million viewers in 2010 alone to reach 600 million viewers and
crossed the 550 channel mark.
With close to 140 million TV households and C&S penetration of near
78%, Indian audience is fast adopting new technologies like HD, Set Top
Boxes with inbuilt recorders and delivery platforms like mobiles.
The way television is accessed is also changing. A recent study by TAM
Media Research estimated the share of digital access to have improved
to 9% in 2010 from 7 % in 2009. While broadcasters and the TV set
manufacturers are facilitating viewing of HD content on television, the
Indian cable TV distribution industry must undertake complete
digitisation over coming years.
As a leading Multi System Operator (MSO) of India, WWIL has actively
been advocating the cause of digitisation. The cable TV industry is
rapidly changing with visible signs of progress towards the digital
movement. In a positive development for the Indian TV content
distribution industry, the Information & Broadcasting (l&B) Ministry
has recommended December 31 , 2014 as the sunset date for mandatory
digitisation in the country. The move will mean that the cable TV
sector will become more organised, attract better investments and
inturn improve profits.
The digital wave is expected to benefit the three key players in the
value chain namely the MSO, by way of increase in subscription
revenues; the government, via increase in tax collections; and the
customers, with an enhanced television viewing experience. With the
trend expecting to reap in benefits for companies like ours, we are
preparing ourselves for the digital wave!
FY 11 was a good and satisfying year for WWIL in many ways. Let me
share with you the key highlights of our operational and financial
performance of the year.
- The consolidated operating revenues grew by 12% to ^3059.5 million
from ^2726.5 million during the last fiscal
- The company posted a consolidated operating profit (EBITDA) of ?
163.6 million, which was a significant achievement as compared to
operating loss of ^631.6 million during the last fiscal
- WWIL has been ranked among the best 400 mid cap companies in India by
Dalai Street Investment Journal''s Annual Compendium - Mid Cap 400
- Indian Cable Net Company Limited, a subsidiary of WWIL, was ranked
among the top 500 of India''s Best Performing Mid Sized Companies in the
Second Annual Inc. India 500 Awards
- WWIL consolidates its pan India presence through strategic expansions
in Uttar Pradesh and Andhra Pradesh
THE PEOPLE POWER
Consistency, transparency and trust form the cornerstone of the work
philosophy at WWIL. The spirit of commitment that our employees display
has played a major role in bringing WWIL to the position it enjoys
today. We work closely towards personal development of each of our
employee and strive hard to present them with an environment that is
conducive to their needs. Keeping our team of professionals and experts
involved through various employee engagement programmes like Samwad
(Dialogue), Open House and Konnect, we are keeping the morale of our
We are at an exciting juncture of our business journey. We look forward
to making the most of digitisation wave and will be moving into newer
geographies. The company will be investing in acquiring the latest
technology and will focus on the development of the skills of its
people. Company''s orientation will be towards streamlining operations &
cost optimisation. It is with your support that we have witnessed a
transformational year, a year that we can happily dub as satisfactory.