Adlabs Films, India's leading film and media services company, and a member of the Reliance Anil Dhirubhai Ambani Group, announched that it proposes to change its name to Reliance MediaWorks Limited, subject to shareholders and other requisite approvals.
For the year ended March 31, 2009, the Company delivered total revenues of Rs. 733 crores ($152 million), reflecting a Compounded Annual Growth Rate (CAGR) of 80 per cent in the last three years.
The original name, Adlabs Films, was reflective of the company’s initial business as a film processing laboratory. Pursuant to the Reliance ADA Group acquiring the controlling stake in Adlabs in the year 2005, the company has witnessed transformational growth in the canvas and scale of its operations.
Commenting on the development, Anil Arjun, Chief Executive Officer said, “The name Reliance MediaWorks Limited more accurately reflects our identity as a diversified film and media services company with a global presence.
We are privileged to draw upon the international recognition of the Reliance Anil Dhirubhai Ambani Group brand, to further strengthen our leadership position in the media and entertainment business. ”
The company today has a presence in the film exhibition business in India and internationally; and has entered new segments of the film production value chain including digital post-production, digital cinema mastering studios/shooting floors film and TV equipment rentals, visual effects and image enhancement, film restoration BPO and other value added services
Adlabs' television venture, BIG Synergy is among the leading players in India in the television programming industry.
The company’s operations include a 100 per cent owned facility in Los Angeles, California - Lowry Digital - which is universally regarded one of the premier digital restoration facilities in the world.