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AGM held on SEPTEMBER 19, 2003

PNC aims key spot in cinematic space

  • Pritish Nandy Communications (PNC) Ltd plans to emerge as the key player in the cinematic content space. `We will cross last year profit in the first half of the fiscal 2003-04,` said Pritish Nandy, chairman, Pritish Nandy Communications, at the annual general meeting held in Mumbai on September 19, 2003. The company hopes to achieve a growth of 100 per cent at the net profit level during the current fiscal.

  • Revenues from the company`s feature film, Jhankaar Beats, released worldwide in June 2003 by Fox, an international production houses, will add to the Pritish Nandy Communications` net profit in the fiscal 2003-04. Another film Mumbai Matinee will be released on September 26, 2003, while Hazaaron Khwahishein Aisi will be released in October-November 2003. The much-awaited Mumbai Matinee has made a profit before the release.

  • In addition, Pritish Nandy Communications will be releasing three more movies during the the fiscal 2003-04. All the movies released in the current fiscal are internally financed. Besides, there are several content projects at various stages of development. In the fiscal 2004-05, the company plans to release eight movies, of which one will require huge budget for which it has plans to tie up with institution/banks.


  • Pritish Nandy Communications software content library is valued at Rs 200 crore.


  • Pritish Nandy Communications intends to grow and develop its wellness division that operates under the brand, Moksh and Sin (cafe at Moksh), which will be hived off into a subsidiary, in the near future. The company plans to open Moksh in other cities and also is planning one overseas.

  • Moksh posted a loss of Rs 24 lakh at the profit before tax level during the fiscal 2002-03 as the subscription turnover is amortised over a period of time.

FY 2002-03

  • During the fiscal 2002-03, Pritish Nandy Communications turnover increased by 126.5 per cent to Rs 40.21 crore due to worldwide release of films Sur and Kante.

  • Besides, the company PNC also managed to re-exploit its television library. Content division contributed 93.8 per cent to the turnover, while wellness division (Moksh) contributed 6.2 per cent.

  • In content, TV content business was modest as a result of softening of advertising rates in the television business. The net profit declined by 7.4 per cent to Rs 1.62 crore as the focus was on the turnover.

Source : IRIS

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