SITI : Annual Report

2021-22

Annual Report

Interconnected.

Integrated.

Innovative.

Read on

01

Corporate Overview

Chief Patron's Message / 02 Message from CEO / 04 Interconnected / 06

SITI'S Integrated Proposition / 07 Interconnected across India / 09 Innovative / 12

Innovating to Enhance Customer Experience / 13

Integrated / 18

Integrating Services through Partnerships / 19

Partnering our People / 20 Performance Overview / 22 Board of Directors / 24 Management Team / 26 Corporate Information / 27

98

Financial Statements

Standalone Independent

Auditor's Report / 99

Standalone Balance Sheet / 112

Standalone Statement of

Profit and Loss / 113

Standalone Cash Flow

Statement / 114

Standalone Statement of

Changes in Equity / 116

Notes to the Standalone

Financial Statements / 117

Consolidated Independent

Auditor's Report / 168

Consolidated Balance Sheet / 178

Consolidated Statement of

Profit and Loss / 179

Consolidated Cash Flow

Statement / 180

Consolidated Statement of

Changes in Equity / 182

Notes to the Consolidated

Financial Statements / 183

28

Statutory Reports

Notice / 28 Directors' Report / 38

Management Discussion and Analysis / 70

Report on Corporate Governance / 77

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Interconnected.

Integrated.

Innovative.

In the increasingly interconnected world of today, there are no silos of human engagement and experience. Isolated platforms and services are simply not enough to satisfy the sophisticated demands of the new-age consumer, who seeks and aspires for a one-stop service proposition, across businesses and industries.

The Broadband and Cable TV industry is no exception, with customers looking for integrated offerings, designed to deliver a holistic experience across the entire gamut of their business and personal needs. Customers today want digitally integrated platforms to keep them connected with the world, at all times in every way.

Responding to the transforming business eco-system and the evolving customer aspirations, SITI Networks is continuously strengthening its integrated proposition to address their needs and expectations. We continue to invest proactively in leveraging data, and in deploying advanced analytics, AI and automation, to align ourselves to the behavioural shifts that the Covid pandemic has further sharpened.

Rethinking, reorienting and reimagining our business proposition is central to our strategic approach. Our strategy is crafted to enhancing customer experience at every stage of their SITI journey. We have shaped it to set new benchmarks in product innovation. We have modelled it to deliver our products and services seamlessly, weaving them together through an integrated platform.

Chief Patron's Message

Dear Shareholders,

I am pleased to share with you the Company's annual report for 2021-22 - another year that underscored our deep-rooted resilience, grit and courage in the face of continuing on-ground challenges. The persisting pandemic and the overall stress in the macro environment pushed us to play on our strengths in order to keep our customers happily interconnected in a transformational world.

02

Our people, once again, rose to the occasion to successfully manage the challenges, and to help us deliver to customer needs and demands seamlessly and effectively. Their commitment and hard work remains a key driver of our growth strategy and I am thankful to them for their dedication in these testing times.

The focus, at SITI, has been on strengthening our value proposition for our customers, whose needs and aspirations have witnessed a significant change since the onset of the Covid pandemic. We continued to support them at the back of our ability to evolve in tandem with the external changes. This ability has enabled us to come a long way from the times when we were a mere cable operator. We have taken major strides in recent years towards emerging as an integrated service provider, empowered to give customers the best of experience in the interconnected new world.

As an integrated service provider for the entire family, we are not only offering them this experience on a single platform but are also building the blocks of new India - a nation that is more effortlessly connected to the world of news and entertainment than ever before. The country has seen a massive uptick in demand for smooth and uninterrupted connectivity amid the Covid crisis. The population looking to the internet for entertainment and productivity is seeing an exponential growth.

In this backdrop, the demand for integrated offerings, designed to fulfill the entire gamut of customer needs, has also seen humungous growth. Responding to this change, we, at SITI, have also enhanced our focus on building our Broadband proposition through impactful innovations and infrastructure augmentation. Technology is playing a vital role in steering this strategy, with data analytics, artificial intelligence and automation being central to our transformational journey. We continued to increase our investments in these areas during the year to scale up our Broadband business. At the same time, we remained focused on expanding our portfolio and service proposition in other business segments too.

REPORT

ANNUAL 2021-22

I look forward to sharing the	CORPORATE
success of these efforts with
all of you in the years ahead,
as we work concertedly to	OVERVIEW
realise our vision of becoming
India's leading integrated
player, offering innovative
services to carve a completely
interconnected new world.

Brand-building, along with upgradation of
customer connect services in Broadband, TV and
value-added services of the Company, was a key	STATUTORY
propeller of our evolutionary journey during
the year. We also further strengthened our
collaborations with our LCO and other partners
to deliver more effectively to the growing	REPORTS
needs of consumers.
A vital element of this collaborative approach was
our focus on rural and semi-urban areas, which
are witnessing accelerated Broadband growth
amid the changing business landscape.
I look forward to sharing the success of these
efforts with all of you in the years ahead, as
we work concertedly to realise our vision of
becoming India's leading integrated player,
offering innovative services to carve a completely
interconnected new world.	FINANCIAL
Dr. Subhash Chandra
Best wishes
	STATEMENTS

03