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TV Vision Ltd.

BSE: 540083 | NSE: TVVISION |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE871L01013 | SECTOR: Media & Entertainment

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Annual Report

For Year :
2016

Chairman's Speech

Dear Shareholders,

Your Company has now become an independent public company from erstwhile subsidiary of Sri Adhikari Brothers Television Network Ltd. I welcome aboard the new shareholders of the Company. It gives me immense pleasure to interact with you in the Annual General Meeting through the foreword to the 9th Annual Report of your Company for the year ended 31st March, 2016.

The Group has successfully concluded the Scheme of Amalgamation and Arrangement during the previous year and now the Broadcasting business of the group now vests into the Company. Your Company is in the process of getting listed on Bombay Stock Exchange and National Stock Exchange which we anticipate to be completed in coming months.

At present, your Company is operating 5 (Five) channels namely, MASTIII, DABANGG, DHAMAAL, MAIBOLI and DILLAGI. MASTIII, the music television channel continues to maintain the number one position in the target market. DABANGG, the Regional Entertainment Channel has continued its leadership position against its competitors. We have repositioned channel DHAMAAL, the Regional Entertainment Channel, during the year as youth and music channel for the state of Gujarat. The regional Marathi channel ''MAIBOLI'' has established itself as a strong player into the Marathi segment with its unique programming mix and slotted itself into the top 5 channels in the respective genre. The new channel ''DILLAGI'', which was launched in previous year as the niche channel in national language catering to LC1 regions, caters to large Indian population base across all age groups.

The Indian Television Industry size is estimated at Rs. 542 billion in 2015 and is expected to grow at a CAGR of 15% to reach Rs. 1,098 billion in 2020. The advertising revenue growth is also estimated to remain strong, growing at a CAGR of 15%. The number of TV households in India increased to 175 million in 2015, implying a TV penetration of 62% which are expected to increase to 200 million households by 2020.

During the year 2015, Industry has successfully implemented the shift of viewership measurement system from TAM to BARC. The key highlights of the new measurement system were inclusion of rural markets of India which were earlier excluded and increase in sample size which gave stability to rating system. This shift led to the reshuffle in ranking of TV channels and increased the rakings of Free-to-Air channels which caters to the rural market. This shift has also opened up more opportunities for broadcasters in regional as well as niche categories. With this shift, ranking of the channels of your Company has strengthened further as these channels are well positioned into the urban as well as rural markets of India.

Over-the-top (OTT) platforms and growing content consumption on digital platforms continues to be a big theme that is likely to drive dynamics of the industry over the next decade. The TV Broadcasters are viewing OTT services as an opportunity to provide their contents on an additional platform rather than as a threat to existing business. Most of the channels of your company are active on digital platforms and continuously working towards engaging consumers on digital platforms on regular basis.

With digitization of cable is reaching at a final stage of completion, there is an increase in localization of content as well as an increase in the offering of channels in the niche genre. Regional Channels are attractive for advertisers due to lower cost of connect with the right audience. Regionalization has caught the eyes of most established broadcasters and newer and niche channels continue to be launched, catering to specific interests of the viewers. Your company is well established in regional space with currently three region specific channels catering different regions.

Your Company has been closely monitoring the developments and are taking strategic steps to respond positively to the changing environments. Your company is working on a blue print to make a bouquet of nine plus channels in various genres which includes existing bouquet of five channels and also having big plans to enter into the Hindi GEC space along with new regional channels and niche category channels.

Your Company with a clear cut road map is suitably poised to capitalize on the opportunities being presented. We will always continue our quest for reaching leadership positions in each of the Genre or region we represent.

I would like to convey my appreciation for the support and the patience you, as shareholders, have extended to the Company over the years. I also would like to acknowledge the contribution of the advertisers, producers, artists, bankers, employees and all other stakeholders - without your support and trust, this Company would not have been able to deliver the quality entertainment it has always produced.

With warm regards,

Markand Adhikari

Managing Director

Place: Mumbai Date: 20th August, 2016