Adlabs Films, Anil Dhirubhai Ambani Group's (ADAG) film and media services company plans to change its name to Reliance MediaWorks Limited subject to shareholders and requisite approvals.
The company ended FY 2008-09 delivering total revenues of Rs733 crore with a Compounded Annual Growth Rate (CAGR) of 80 per cent in the last three years.
The name under which the company is currently operating is derived from the company's initial business of film processing and subsequent to the ADAG group's acquisition of a controlling stake in the company in the year 2005 it has transformed into a company having large scale diversified operations.
According to Anil Arjun, Adlabs chief executive officer the name Reliance MediaWorks Limited was more representative of the company's diversified film and media operations of a global scale.
He added that the company was privileged to draw upon the international recognition of the Reliance Anil Dhirubhai Ambani Group brand to further add to its leadership position across the media and entertainment business.
The company today is positioned in the film and exhibition business in India and globally and has forayed into 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.