Compact Disc India has received an approval for the business plan to set-up an Animation Studio in UAE during FY 2013-14. The studio will be set-up jointly with a local investor. The board at its meeting held on March 18, 2013 has approved for the same.
The board has also approved MOUs for the settlement of Outstanding Dues of the two banks. The company will become debt-free by September 30, 2013. Further, the board approved the estimated revenue of Rs 202 crore and profits targets of Rs 27 crore for the FY 2013-14.
Compact Disc India is engaged in multimedia and entertainment production in India and has extensive expertise in creation, distribution and management of contents for media and entertainment sector with its strong presence in India, Malaysia and Singapore.
