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Chairman's Message

  • Employee SpeakMr Jawahar Lal Goel Chairman & Managing Director

    Dear Shareholders,

    It is my privilege to present you the Annual Report of Dish TV India Ltd for the financial year ended March 31, 2020. We are in the middle of the biggest crisis – COVID 19 pandemic, which has presented unprecedented challenges with severe socio-economic consequences and disruption of demand and supply chains. As a result of the pandemic, the world economy is projected to contract sharply by 4.9% in 2020. The Indian economy is expected to recover faster and resume its growth trajectory on the back of digitization, globalization, favourable demographics, and the Government’s structural as well as fiscal reforms.

    Dish TV, with its three brands continues to provide unparalleled entertainment along with latest news, entertainment and information on evolving business environment to the society. During the year under review, we were able to perform well and consolidate the progress across the business with new opportunities, despite the tough market environment.

    India’s M&E Industry Developments
    The Indian Media and Entertainment (M&E) industry is the fastest developing sector in the world today. The industry is evolving as consumers are expecting M&E provider to deliver choice, convenience and value, all wrapped inside personalized, customized experiences, that are available on demand. This has resulted in continuous reinventing and explore dynamic entertainment genre, be it in terms of platform, devices, delivery, consumption patterns, government regulations as well as technology and payment methods.

    The transformation phase of the industry has led to the emergence of many new trends and opportunities across content, distribution, consumption and monetization. With the evolution of digital behaviour and advent of 5G technology, subscription models will have greater role in monetization of digital platforms and open up new opportunities for wide variety of home entertainment suited to all age groups and taste. The opportunities presented by the arrival of smart television sets and digital connectivity can improve the engagement between creators of content and consumers.

    The Over the Top (OTT) platforms are trying to jostle for space along with traditional distribution platforms. With the increasing threat from internet content and OTT players, some TV distribution networks have launched their own OTT platforms or partnering with pure play OTT players to retain their urban and rural audience along with expanding their viewership. The price gap and monthly ARPU will play a positive role in favour of DTH player in the initial years and thereafter the consumer habit will determine the longevity and acceptance of the OTT platform. Although, the ever-changing trends in the industry have opened up several growth opportunities, the shift in consumer demand for personalization is implying constant pressure on entertainment companies to drive innovation and embrace new technologies.

    Performance Overview
    Dish TV India has emerged as a leading and prominent player in Indian M&E industry. We have pan India distribution network and have established strong foothold in semi urban and rural areas. With a diverse offering of products and services, we are one of the preferred entertainment brands in the country. The first mover advantage continues to play a major role in rural and semi-urban area where the brand acceptability is much better and is almost synonymous with the category.

    Our Company has always been at the forefront of bringing top of the line technology to meet the needs of the subscribers to access linear as well as streamed content on their television sets. In this direction, we have launched new Android powered hybrid HD set-top boxes called Dish SMRT Hub and d2h Stream for Dish and d2h brands respectively.

    An Alexa-enabled smart dongle called Dish SMRT Kit and d2h Magic allows users to convert their existing set-top box into a smart device and brings support for OTT & online entertainment apps. Through these devices, we are associated with the leading players in the OTT and entertainment space like Amazon Prime, Zee5, Sony Liv, You Tube, Eros Now, MX Player, Hungama, Watcho etc. to bring best in class entertainment to its customers.

    Watcho, our in-house OTT platform has already shown green shoots of revenue generation with subscription model coming into play. We expect to gain even a higher wallet and screen share of new users across demographics apart from our existing subscribers. We are working towards making this application a one-stop shop for all entertainment needs for our subscribers. We will continue to remain ahead of the competition in terms of new launch, innovation led by technology and provide all contemporary means of affordable entertainment to the subscribers.

    In terms of performance, FY20 was a rather mixed one. The Company continued to add subscribers in the DTH market and apprehended the ‘Fastest Growing DTH Brand in HD Category’ title for the second consecutive year. During the year under review, EBIDTA increased marginally by 3% to Rs. 21,060 million in FY20 from Rs. 20,443 in FY19. PBT before exceptional item improved considerably to Rs. 1,282 million in FY20 as compared to Rs. 268 million in FY19. However, Our Company reported net loss of Rs. 16,548 million in FY20 as against net loss of Rs. 11,634 million in FY19 due to exceptional loss of Rs. 19,155 million in FY20 and Rs 15,430 million in FY19 respectively, related to impairment of goodwill. The Company continues to reduce its debt despite increased level of business activity and enhanced EBITDA.

    Looking ahead
    We believe the challenging times gives an opportunity to grow our business with a competitive approach in reaching customers and delivering great work. We will continue to leverage strengths of our multi-brands viz. “Dish TV”, “d2h” and “Zing” to win the growing demand of streamed content and reach new milestones. Our primary objective is the customer first and we will continue to invest in evolving technologies to fulfill customer needs. In an endeavour to provide seamless TV viewing experience amid Covid-19 lockdown, our Company has launched a variety of programmes, offers and packages for its customers. Going forward, we will continue to adopt and deploy the latest technology to meet the needs of subscribers in the most efficient manner.

    I take this opportunity to thank all the shareholders including our Subscribers, Central and State Government bodies, Ministry of Information and Broadcasting, TRAI and other Regulatory authorities, Investors and Business associates, for continued faith in us. I also thank my colleagues on the Board for their valuable contribution and all the employees, for their constant efforts towards growth of the organisation.

    Your trust has been our biggest inspiration. I thank you all and look forward to your continuous support and co-operation.

    Stay entertained at home!

    Sincerely,

    Jawahar Lal Goel
    Chairman & Managing Director

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