Cinevista Ltd Management Discussions.
A very warm, cordial and hospitable welcome, to all our esteemed shareholders present here, this morning, on the occasion of the 22nd Annual General Body Meeting of your Company!
The Financial Year 2018-2019 saw your company recording a turnover of Rs. 40,81,09,998/-, with depreciation costs standing at Rs. 1,04,54,261/-.
BEPANNAAH, completed its run on Colors, on the 30th of November 2018! A good 7 months earlier, than anticipated, thanks to channel preferences and circumstances beyond our control!
BEPANNAAH, originally slotted at a 9 p.m. slot, got pushed down to a 9.30 p.m. slot, to accommodate a show of another production house, a favourite with Colors!
As destiny would have it, Bigg Boss, got advanced/promoted to the 9 - 10 p.m. slot of Colors, hoping to combat K.B.C. on Sony, which, as it turned out, proved disadvantageous, both for Colors and for both the programmes, originally slotted on the 9 - 10 p.m. prime-time band!
Moreover, pushed down from the 9.30 - 10 p.m. time slot, to the 10.30 - 11 p.m. late prime-time slot, the show never ever commenced telecast before 10.50 p.m., thus adversely affecting the ratings!
In spite of that, such was the popularity of this series, that Voot, Viacoms O.T.T. channel, was vying desperately, to put this show, on their platform!
To be honest, BEPANNAAH,, was a show, ideally suited for Voot, with its classy, urban, sophisticated approach and story-line!!! In fact, Voot was prepared to bend backwards, to accommodate BEPANNAAH, at any cost!!! But, sadly and most unfortunately, that did not happen for reasons far beyond our control and in spite of putting in our very best efforts!!!
BEPANNAAHs, early exit, affected your Companys bottom-line, in an adverse manner! A show that should have seen its run over at least 15 months of telecast, got compromised in just 8 months!!!
To be honest, we barely recovered the cost of the set, which wed to put up, at our very own cost, after the traumatic fire incident, destroyed the lavish and extravagant set, spread over almost 13000 square feet of area!
The brighter side of the coin is YE TERI GALIYAN, which has completed its 260 plus episodes of telecast and hopefully will see its run through Year-2, of telecast!
Zee is more than happy with us as a production house and were more that positive that we will be working with them, on another show, soon!
Were at present about to pitch a show, to Sony SAB T.V. which were confident, will fructify!!!
There are times, when things just dont fall into place, Try as you Might!
We worked on a Medical show format, for 8 months with an O.T.T. platform, only to be told, at the last moment, that the 50 episode series, was now to be curtailed down to 30 episodes, only! Further, there would be no change in the price-line! (We believe, internationally, all long format shows, are being curtailed down, to cut losses and risks!)
Result: we are reassessing our strategy!
Wed another 50 part dance format show, cleared by the Voot creative team, but before we could go to the next level, the entire team left!
Its been a good 19 months now, since fire ravaged our set housed on floor No. 12 and 12A, besides damaging floor No. 14, the central air-conditioning unit and causing huge structural damage!
19 months and we are still fire- fighting, so to say, with the insurance companys appointed surveyors, for finalisation of our claim!
And, to be honest to our esteemed shareholders, we will barely cover one third of the damages claimed, due to depreciation and our studio structure being more than 50 years old!!!
Also, over the last 19 months, your Companys earnings from studio facilities, have come to a grinding halt, causing a huge dent!
These used to largely help support the studio related overheads, of your Company!!
But such is life!
Youve to take the ups and downs in your stride!!!
As regards Kanjurmarg, were all aware of the dire straits, the realty sector is in!!!
And finally, wish all of you, our Esteemed Shareholders, Good Health, Happiness and Better Times ahead!
With sincere regards and thanks!!!