Annual Report: 2023
India Exposition Mart Ltd. 22nd Annual Report Summary:
Introduction and Overview: The India Exposition Mart Limited (IEML) annual report highlights the company's performance and activities for the financial year 2022-23. The company reflects on its 22-year journey in creating a world-class exhibition and convention center in Greater Noida.
Financial and Operational Performance: IEML achieved record revenue of over Rs. 223 Crores in 2022-23, which is four and a half times the previous year's revenue and a 40% increase over the peak revenue of 2019-20. The board declared an interim dividend of 25%, or Rs. 1.25 per share (face value Rs. 5), reflecting this strong performance. 45 events were hosted during the year, reaching an 85% occupancy rate. IEML venue has hosted large scale consumer shows, international sourcing and trade show as well as high profile international conferences.
Strategic Initiatives and Diversification: The company expanded into hospitality with 'ExpoInn Suites & Conventions' which offers 134 rooms, and into e-commerce through its subsidiary, Expo Digital India Private Limited. The liquidation process of joint venture with Nextt Consumer Products Company, Inc (JV) has been initiated. IEML organized in-house shows including IHE 2022 (India International Hospitality Expo) and Ayuryog Expo 2022. The two new IPs were launched concurrently, coinciding with Khilona- India Toys & Games Fair 2022, organised by the Export Promotion Council for Handicrafts.
Infrastructural Advancements: IEML focused on sustainable upgrades, including refurbishment of the IEML Steel Logo, installation of dual-fuel kits for generators, installation of EV charging stations, and extension of the PNG pipeline. Solar street light replacements, construction of labour restrooms, capacitor panel installation, and sheds for HT panels. Road work near the pump room was completed.
Certifications and Awards: IEML received the "Best Stand-Alone Convention Centre-National Tourism Award 2018-19" and awards at the Exhibition Excellence Award 2022, including "The Grand Venue" Award, and IEML's event IHE 2021 as "The Knowledge Hub". Mr. Sudeep Sarcar, CEO, IEML was awarded as "The Dynamic CEO".
Corporate Social Responsibility (CSR): Grants were given to Divya Prem Sewa Mission Niyas, Maharshi Panini Dharmarth Trust, and Gramin Vikas Evam Chetna Sansthan, and supported activities at Gautam Budh Society. Project E-nurture was designed to educate and develop e-commerce capacity for Micro Enterprises, NGOs, Artisan Producers Companies and Artisans.
Future Plans and Outlook: The company will focus on upgrading facilities, strengthening its brand, optimizing return on investment, and improving profitability through lean operations and swift action. There is a plan to instill business confidence in Mart owners and to promote the Marts as a year-round sourcing destination.
Notice of Annual General Meeting: Notice is given for the 22nd Annual General Meeting of India Exposition Mart Limited on Monday, August 28, 2023, at 11:30 am in New Delhi. Ordinary business includes adopting the audited financial statements for the year ended March 31, 2023, and appointing a director in place of Mr. Vivek Vikas, who retires by rotation. Special business includes the appointment of Mr. Ravinder Kumar Passi and Mr. Anil Mansharamani as Non-Executive Directors. Members are entitled to appoint a proxy. Remote e-voting will be available from August 25-27, 2023.
Additional Details: The document provides detailed instructions for remote e-voting, including login methods for individual shareholders holding securities in demat mode via NSDL and CDSL, and for those holding securities in physical mode. Contact details for the company, e-voting agency, scrutinizer, and registrar and transfer agent are also provided. Annexures to the notice include profiles of directors seeking appointment/re-appointment and explanatory statements for special business items.
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