Exhicon Events Media Solutions Limited (BSE: 543895) has announced a strategic partnership with India Exposition Mart Limited (IEML) to expand India's exhibition and convention infrastructure into tier-2 cities. This collaboration aims to capitalize on the rapidly growing exhibition industry and government initiatives supporting infrastructure development in smaller urban markets.

Strategic Partnership

Exhicon Events has signed a Memorandum of Understanding (MoU) with IEML to jointly identify, bid, develop, and manage world-class Exhibition & Convention Centers across tier-2 cities in India under the Public-Private Partnership (PPP) model. This partnership combines Exhicon's infrastructure execution expertise with IEML's experience in venue ownership and management of one of India's largest integrated exhibition centers.

Market Opportunity

The Indian Exhibition & Convention Industry is experiencing robust growth, with a projected Compound Annual Growth Rate (CAGR) of 12-15%. The market is expected to exceed ₹95,000.00 crore by 2030, driven by government prioritization of exhibition infrastructure development, especially in tier-2 cities.

Project Pipeline and Financial Impact

• Exhicon anticipates participation in projects with the cumulative potential mentioned above.
• The partnership is expected to contribute significantly to Exhicon's top-line growth, improving margins and strengthening shareholder returns.

Governance and Tenure

A Joint Steering Committee with equal representation from Exhicon and IEML will oversee evaluation, bidding, and project implementation. The MoU will remain valid for an initial 5-year period, with the option for extension by mutual consent.

Market Position

This collaboration positions Exhicon as a leader in India's rapidly expanding exhibition infrastructure sector. The company expects to benefit from:

1. Monopolistic advantage in PPP projects
2. Strong revenue visibility
3. Significant long-term value creation for shareholders

Exhicon's Board believes that this partnership firmly establishes the company as a dominant player in the sector, with potential for substantial growth and profitability in the coming years.

The strategic move by Exhicon Events to partner with IEML aligns with the government's focus on developing exhibition and convention infrastructure in tier-2 cities. As the industry continues to grow, this collaboration could position Exhicon to capture a significant share of the expanding market for world-class exhibition and convention facilities across India.

Exhicon Events Media Solutions Limited , a key player in the events and media industry, has announced impressive financial results for the fiscal year ended March 31, 2024, showcasing substantial growth in both standalone and consolidated operations.

Standalone Performance

The company's standalone financial results demonstrate steady growth:

• Revenue from operations increased to ₹4,118.22 lakhs, up from ₹3,720.35 lakhs in the previous year.
• Profit for the year rose to ₹630.78 lakhs, compared to ₹577.86 lakhs in the preceding fiscal year.
• Basic earnings per share (EPS) stood at ₹5.29, slightly lower than the previous year's ₹6.74.

Consolidated Financial Highlights

Exhicon's consolidated performance showed remarkable improvement:

• Consolidated revenue from operations surged to ₹8,845.89 lakhs, a significant jump from ₹5,884.38 lakhs in the previous year.
• Consolidated profit witnessed a substantial increase, reaching ₹1,308.03 lakhs, up from ₹471.54 lakhs.
• Consolidated basic earnings per share improved considerably to ₹10.98, compared to ₹5.50 in the previous fiscal year.

Financial Results Overview

Corporate Governance Updates

In line with its commitment to robust corporate governance, Exhicon Events Media Solutions Limited has made key appointments for the fiscal year 2024-2025:

• M/s. Brajesh Gupta & Co has been appointed as the Secretarial Auditor.
• Gupta Sajankar & Associates will serve as the Internal Auditor.

Auditor's Opinion

The company's statutory auditors have issued an unmodified opinion on the financial statements, indicating that the financial reports are free from material misstatements and comply with the applicable accounting standards.

The strong financial performance, particularly in consolidated operations, reflects Exhicon Events Media Solutions Limited's effective business strategies and successful expansion efforts during the fiscal year 2024. The company's growth in revenue and profitability, especially on a consolidated basis, positions it well for future opportunities in the events and media industry.