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Panoramic Universal Chairman Speech
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You can view the entire text of Chairman's speech of Panoramic Universal Ltd.
Chairman's Speech
Mar2012 Mar 2014
Dear Shareholders,
In the fiscal year gone by, the Indian economy witnessed a challenging
situation with the GOP growth slowing down to 4.9%. As per estimates
GDP is likely to grow by 5.6% in current fiscal. However Hospitality,
Travel and Tourism Industry''s contribution to world GDP grew for the
fourth consecutive year in 2013, which was mainly due to strong demand
from international travelers. According to the World Travel & Tourism
Council, India''s Hospitality, Travel and Tourism industry is expected
to prow by 7.3% in 2014, better than last year. This year, revenue from
domestic tourism is expected to grow by 8.2.% compared to 5.1% a year
ago. The increase in domestic travel, growth of low-cost airlines and
upgrading of airport infrastructure will be the growth drivers for this
segment.
In the Information Technology (IT) Industry, outlook for the 2014
released by CompTIA {the non-profit trade association for the IT
Professionals and IT channel organizations), the global IT industry is
expected to have only a moderate growth at the rate of 3.4% in 2014,
with upside potential of around 5.9%. Indian IT industry is
continuously evolving and innovating itself for gaining confidence of
existing consumers and attracting new patrons. The Government
initiative to increase e-governance in all the sectors has also boosted
the growth prospects of domestic IT industry.
The Business sentiments have also improved with the change in
government at the centre. There is renewed optimism for pro-business
reforms and accelerated infrastructure investment. Even marginal
success in these efforts may spark greater economic and business travel
growth. This has also improved the overall business sentiments.
The Panoramic group with a growth oriented outlook has during the year
acquired operational star category properties at Goa and Gurgaon. The
Company''s subsidiary in Dubai has also acquired six service apartments
in one of the prime locations In Dubai, The Group has now more than 40
operational properties in India and overseas. The brand "Magic
Holidays" of the group is also making big strides in the time share
industry and contributing in a major way in driving the overall
turnover. The group''s hotel in Hyderabad which has gone operational in
this year, has won the "Best New Boutique Hotel Award" at the Indian
Hospitality Awards 2013 by Epicurus & AP Hotel Association.
Your Company''s IT business with its variety of software products and
solutions committed to industrial use viz. Pay-roll, Human resource,
E-commerce, Real estate, Jewellery etc, is also adding to the growth of
the Company. The capabilities of your Company developed in IT area over
the years will ensure that your Company continues to remain relevant to
the stakeholders. The total consolidated revenue of the Company has
shown a marginal growth of 3.3% in this year. However with the upswing
in the economy, your Company expects to perform better in the current
fiscal.
I take this opportunity to thank our Shareholders. Employees, Bankers,
Customers, Suppliers, the Government authorities and all those who have
been associated with the Group and others who have consistently
extended their support and shown confidence in us at alI times.
Sudhir Moravekar
Chairman
In the fiscal year gone by, the Indian economy witnessed a challenging
situation with the GOP growth slowing down to 4.9%. As per estimates
GDP is likely to grow by 5.6% in current fiscal. However Hospitality,
Travel and Tourism Industry''s contribution to world GDP grew for the
fourth consecutive year in 2013, which was mainly due to strong demand
from international travelers. According to the World Travel & Tourism
Council, India''s Hospitality, Travel and Tourism industry is expected
to prow by 7.3% in 2014, better than last year. This year, revenue from
domestic tourism is expected to grow by 8.2.% compared to 5.1% a year
ago. The increase in domestic travel, growth of low-cost airlines and
upgrading of airport infrastructure will be the growth drivers for this
segment.
In the Information Technology (IT) Industry, outlook for the 2014
released by CompTIA {the non-profit trade association for the IT
Professionals and IT channel organizations), the global IT industry is
expected to have only a moderate growth at the rate of 3.4% in 2014,
with upside potential of around 5.9%. Indian IT industry is
continuously evolving and innovating itself for gaining confidence of
existing consumers and attracting new patrons. The Government
initiative to increase e-governance in all the sectors has also boosted
the growth prospects of domestic IT industry.
The Business sentiments have also improved with the change in
government at the centre. There is renewed optimism for pro-business
reforms and accelerated infrastructure investment. Even marginal
success in these efforts may spark greater economic and business travel
growth. This has also improved the overall business sentiments.
The Panoramic group with a growth oriented outlook has during the year
acquired operational star category properties at Goa and Gurgaon. The
Company''s subsidiary in Dubai has also acquired six service apartments
in one of the prime locations In Dubai, The Group has now more than 40
operational properties in India and overseas. The brand "Magic
Holidays" of the group is also making big strides in the time share
industry and contributing in a major way in driving the overall
turnover. The group''s hotel in Hyderabad which has gone operational in
this year, has won the "Best New Boutique Hotel Award" at the Indian
Hospitality Awards 2013 by Epicurus & AP Hotel Association.
Your Company''s IT business with its variety of software products and
solutions committed to industrial use viz. Pay-roll, Human resource,
E-commerce, Real estate, Jewellery etc, is also adding to the growth of
the Company. The capabilities of your Company developed in IT area over
the years will ensure that your Company continues to remain relevant to
the stakeholders. The total consolidated revenue of the Company has
shown a marginal growth of 3.3% in this year. However with the upswing
in the economy, your Company expects to perform better in the current
fiscal.
I take this opportunity to thank our Shareholders. Employees, Bankers,
Customers, Suppliers, the Government authorities and all those who have
been associated with the Group and others who have consistently
extended their support and shown confidence in us at alI times.
Sudhir Moravekar
Chairman
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Chairman's Speech
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Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
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