Party Cruisers Ltd Management Discussions

This section shall include discussion on the following matters within the limits set by the listed entitys competitive position:

The events industry size was valued at $1,135.4 billion in 2019 and is expected to reach $1,552.9 billion by 2028, registering a CAGR of 11.2% from 2021 to 2028. Events refer to public gathering of populace art at a determined time and place. The purpose for staging an event can be increase in business profitability, celebratory, entertainment, and community causes among others. The most popular events include conference & exhibition, corporate events & seminars, promotion & fundraising, music & art performance, sports, festival, trade shows, and product launch. The key stakeholders within the events market are corporate organizations, public organizations & NGOs. Party Cruisers Limited is a distinguished event management Company that specializes in creating extraordinary and seamless event experiences. With a strong foundation in curating and executing weddings that reflect individual stories of love, we extend our expertise to a wide array of events. Our dedicated team of event professionals thrives on innovation, attention to detail, and a commitment to exceeding expectations, making us the premier choice for any occasion.

Company has various opportunities to capitalize on in the dynamic and evolving events industry. Here are some potential opportunities:

Virtual and Hybrid Events: The rise of virtual and hybrid events presents an opportunity to reach a wider audience while adapting to changing preferences and circumstances.

Sustainability and Eco-Friendly Events: The demand for environmentally responsible events is growing. Companies that offer sustainable event planning and minimize environmental impact can stand out.

Experiential Marketing: Brands are increasingly using events as a way to create unique and memorable experiences that engage customers and build brand loyalty.

Technology Integration: Utilizing cutting-edge event technologies like event apps, virtual reality, and AI-powered analytics can enhance attendee engagement and streamline event operations.

Diverse Event Formats: From workshops and seminars to trade shows and product launches, offering a range of event types allows for diversification and catering to different client needs.

Niche and Specialized Events: Focusing on niche markets or specialized event types (e.g., wellness retreats, e-sports tournaments) can help target specific audiences and establish expertise.

Corporate Training and Team Building: Many companies seek event management services for team-building activities, workshops, and corporate training events.

Destination Events: Planning events in exotic or unique locations can attract clients looking for unforgettable experiences.

Crisis Management and Safety Expertise: In light of unexpected crises like the COVID-19 pandemic, event companies with crisis management expertise are in high demand.

Cultural and Diversity Celebrations: Organizing events that celebrate cultural diversity can resonate with communities seeking inclusive and meaningful experiences.

Collaborations and Partnerships: Forming partnerships with other businesses in related industries (e.g., catering, entertainment, technology) can expand your service offerings and reach.

Event Marketing and Promotion: Providing event marketing services, including social media campaigns and promotional strategies, can add value for clients.

Leveraging Trends: Staying up-to-date with emerging event trends, such as immersive experiences, personalized content, and interactive elements, can differentiate your services.

Remote Work and Global Reach: With remote work becoming more common, event management companies can cater to clients from various geographic locations.

Leveraging Social Media Influence: Collaborating with social media influencers can help boost event attendance and visibility.

The success of Company depends on staying innovative, understanding market trends, building strong client relationships, and delivering exceptional experiences. Conduct thorough market research to identify the most viable opportunities for your specific region and target audience.

The Companys principal business activities fall within the single segment viz Event Management.

The event management Company in the current market is promising but also dynamic, shaped by various factors. On the positive side, the demand for event planning and management services remains strong, driven by corporate events, weddings, conferences, and social gatherings. As the world emerges from the COVID-19 pandemic, theres pent-up demand for in-person events, potentially leading to a surge in bookings.

However, competition in the industry is fierce, with new entrants continually emerging. To thrive, the Company has adapted to the changing consumer preferences and technological advancements. Investing in virtual event capabilities and hybrid event solutions can provide a competitive edge.

Additionally, sustainability and eco-conscious event planning are becoming increasingly important, with clients seeking eco-friendly options. Successful event management companies will need to integrate sustainability practices into their services.

Moreover, economic fluctuations and unforeseen disruptions can impact the industry. Event companies should maintain flexibility, robust contingency plans, and diversified revenue streams to weather economic uncertainties.

Overall, the outlook for an event management Company is promising, but success will depend on adaptability, innovation, and a keen understanding of evolving client needs and market trends.

Risk Management is an integral part of the Companys business strategy. risk management is our guiding compass. We meticulously anticipate, assess, and address potential challenges that may arise during the planning and execution of events. Whether its navigating logistical hurdles, financial uncertainties, or ensuring the safety and security of attendees, our team is dedicated to minimizing risks while maximizing the success of every event we handle.

Internal Control Systems has been designed to provide reasonable assurance that assets are safeguarded, transactions are executed in accordance with managements authorization and properly recorded and accounting records are adequate for preparation of financial statements and other financial information. Internal check is conducted on a periodical basis to ascertain the adequacy and effectiveness of internal control systems.

Your Company has appointed M/s.. Rahul Pramod & Co, Chartered Accountants, as the Internal Auditor of the Company with effect from May 20, 2023 pursuant to Section 138 of the Companies Act, 2013. The Internal Auditors are in the process of setting up a sound and adequate internal control systems corresponding with its size and nature of business. The Internal audit would be conducted by an independent professional firm on regular basis. The Audit Committee along with the Board will be reviewing these systems. These systems would ensure protection of assets and proper recording of transactions and timely reporting. The Audit Committee also regularly reviews the reports of the Statutory Auditors, and Internal Auditors

The table below gives the financial highlights of the Company for the year ended 31^st March, 2023, as compared to the previous year:

During the year ended 31st March, 2023, your Company earned revenue of Rs. 4,01,038 thousand as compared to Rs. 1,60,408 thousand in the previous year. The operations have recorded a Profit of Rs. 38,172 thousand as compared to a Profit of Rs. 13,293 thousand in the previous year.

h. Human Resource Development

Human resources are the most valued assets of the Company. They work individually and collectively contributing to the achievement of the objectives of the business. The relation between the employees and the Company remained cordial throughout the year. Your Companys corporate culture and vision and values helps unite the workforce and provide standards for how your Company conducts the business. The Company has 67 (sixty seven) permanent employees on the rolls of Company as on 31^st March, 2023.

The Debtors Turnover ratio for the Financial Year 2022-23 is 13.21 as compared to previous year ratio of 9.32. The percentage change was 41.47% as compared to immediate previous financial year due to increase in revenue from operations

ii. Current Ratio

The current ratio for the Financial Year 2022-23 is 2.40 as compared to previous year ratio of 3.31. The percentage change was 27.56% as compared to immediate financial year due to increase in trade payable.

The return on equity ratio for the financial year 2022-23 is 13.21 as compared to previous financial year ratio of 9.32. The percentage change was 41.74% as compared to immediate previous financial year due to increase in profit after taxes.

The return on equity ratio for the Financial Year 2022-23 is 14.30 as compared to previous financial year ratio of 9.74. The percentage change was 46.81% as compared to immediate previous financial year due to increase in revenue from operation which leads to increase in other expenses.

The net capital turnover ratio for the Financial Year 2022-23 is 4.75 as compared to previous financial year ratio of 2.29. The Percentage change was 106.77% as compared to immediate previous financial year due to increase in revenue from operation.

The return on investment ratio for the Financial Year 2022-23 is 0.09 as compared to previous financial year ratio of 0.03. The percentage change was 199.59% as compared to immediate previous financial year due to increase in net income from the short term investment in securities.

The return on investment ratio for the Financial Year 2022-23 is 0.21 as compared to previous financial year ratio of 0.10. The percentage change was 119.91% due to increase in earning before taxes & interest.