Intense, prolonged merger-related activities impacted operations & business: ZEEL Chairman
merger-related activities have impacted operations and business, Zee Entertainment Chairman R Gopalan said adding the company has now taken several incremental steps to protect all stakeholders and enhance its intrinsic value through this phase. There is «significant room for performance enhancement» and a revival plan by the management team is already being put in action to accelerate growth and enhance profitability, said Gopalan in the opening remarks of an investor conference call of Zee Entertainment Enterprise Ltd (ZEEL) on Monday.
The board has also decided to closely monitor the business model and plan presented by the MD & CEO of the company wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA.
«We are fully cognizant that significant room for performance enhancement exists and a revival plan by the ZEEL management team is already being put in action to accelerate growth and enhance profitability,» he said, adding the board has full confidence in the ZEEL management team's execution capability.
Since 2020, ZEEL's performance has been impacted due to industry-wide macro slowdown, transitory issues, and management bandwidth constraints due to merger activities, he added.
«There have been primarily three issues which have impacted the performance since 2020 — firstly Covid and related disruption, second as ZEEL was recovering from Covid, the industry was hit by macro headwinds like advertisement spending slowdown, and lastly
