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Annual Report 2011-12 b) Segment information for the year ended March 31, 2012- Information about Primary Segment 134 (` in lacs) For the year ended March 31, 2012 For the year ended March 31, 2011 Total Digital Intersegment elimination Radio Broadcast & Entertainment Total Printing & Publishing of Newspapers and Periodicals Digital Intersegment elimination Radio Broadcast & Entertainment Particulars Printing & Publishing of Newspapers and Periodicals Revenue External 187,944.89 7,418.54 4,361.07 - 199,724.50 166,092.04 6,999.50 3,158.62 - 176,250.16 Inter-Segment 741.95 - - (741.95) - 905.96 - - (905.96) - Unallocated 573.25 1,366.63 Total Revenue 188,686.84 7,418.54 4,361.07 (741.95) 200,297.75 166,998.00 6,999.50 3,158.62 (905.96) 177,616.79 Results Segment Results 28,221.00 (438.10) (4,004.94) - 23,777.96 28,636.07 725.04 (4054.05) - 25,307.07 Less: Interest (Including Finance Charges) 3,624.47 2,466.44 Less: Unallocated Expense 4,246.51 530.38 Add: Other Income including Interest on 7,502.44 3,399.85 Deposit, Income from Investments Operating Profit 23,409.42 25,710.12 Profit Before Taxation 23,409.42 25,710.12 Provision for Taxation (Including taxes for (8,705.40) (9,315.54) earlier years) Credit towards Deferred Tax 2,449.06 2,187.29 Profit after Taxation 17,153.08 18,581.87 Other Information Segment Assets 132,290.42 9,217.32 2,388.99 - 143,896.73 126,007.24 10,036.00 1,927.37 - 137,970.61 Unallocated Assets 1,17,113.32 96,830.97 Total 132,290.42 9,217.32 2,388.99 - 261,010.05 126,007.24 10,036.00 1927.37 - 234,801.58 Segment Liabilities 78,693.50 1,593.52 2,321.22 - 82,608.25 64,582.00 2,029.07 1,941.55 - 68,552.62 Unallocated Liabilities 20,096.04 23,040.27 Total 78,693.50 1,593.52 2,321.22 - 102,704.29 65,482.00 2,029.07 1,941.55 - 91,592.89 Capital Expenditure 7,724.48 250.60 339.86 - 8,314.94 8,522.89 51.29 163.95 - 8,738.13 Depreciation / Amortisation 8,149.54 320.32 458.76 - 8,928.62 7,471.16 374.26 383.13 - 8,228.55 Unallocated Depreciation / Amortisation 226.68 190.14 Non-Cash Expenses other than 1,166.86 550.38 11.77 - 1,729.01 767.11 104.70 0.48 872.29 Depreciation/Amortisation Unallocated Non-Cash Expenses other 2,458.12 688.67 than Depreciation/Amortisation * Notes:-Intersegment Transfers: - Segment Revenue, Segment Expenses and Segment Results include transfers between business segments. Such inter – segment transfers have been made at competitive market prices charged to unrelated external customers for similar goods. The inter segment transfers have been eliminated in the consolidation.
HT Media Limited 35. During the year a Scheme of Arrangement and Restructuring u/s 391-394 read with Sections 100-104 of the Companies Act, 1956, between Firefly e-Ventures Limited (Firefly), and parent company, has filed with Hon’ble Delhi High Court which provides for demerger of Job Portal undertaking of Firefly and transfer and vesting thereof into the Parent Company w.e.f from the Appointed Date i.e. April 1, 2012. The Scheme was approved by Committee of Board of Directors of Parent Company on 19th March, 2012, subject to requisite approval(s) and sanctioned by the Hon’ble Delhi High Court. Since the Scheme is awaiting sanction by the Hon’ble Delhi High Court, therefore the impact of the Scheme has not been taken in the Standalone Financial Statements of the Parent Company or Firefly for the year ended March 31, 2012. In the past, a similar scheme was approved by the requisite majority of shareholders and creditors of both the Companies which was withdrawn with the leave of the Hon’ble Delhi High Court. 36. A subsidiary company, Hindustan Media Ventures Limited (HMVL) had filed a Prospectus with Registrar of Companies, Bihar and Jharkhand on July 12, 2010, for an Initial Public Offering (IPO) of 16,265,060 shares aggregating to `26,999.99 lacs. The issue opened for subscription on July 5, 2010 and closed on July 7, 2010. Pursuant to this IPO, 16,265,060 equity shares of `10 each were allotted for cash at a premium of `156 per share. With effect from July 21, 2010 the shares were listed on National Stock Exchange and Bombay Stock Exchange. Utilization of IPO funds: Proceeds (` in lacs) Amount Gross Proceeds of the Issue 26,999.99 Less: Issue expenses (1,596.82) Net proceeds of the issue 25,403.17 Objectives Amount to be utilized as per prospectus Setting up new publishing units Upgrading existing plant and machinery Amount utilized till 31-03-2012 2011-12 2010-11 Balance unutilized as on 31-03-2012 Amount utilized till 31-03-2011 (` in lacs) Balance unutilized as on 31-03-2011 6,600.00 3896.29 2,703.71 872.20 5,727.80 5,500.00 5426.22 73.78 4,030.14 1,469.86 Prepayment of loans 13,500.00 13,500.00 - 13,500.00 - Total 25,600.00 22,822.51 2,777.49 18,402.34 7,197.66 As on March 31, 2012, against the balance of IPO funds of `2,777.49 lacs to be utilized as per Prospectus, the actual amount of unutilized IPO funds were `2,580.67 lacs ( Previous year `7,000.83 lacs). The difference, being a shortfall of `196.83 lacs between proceeds of the issue and requirement of funds to be utilized for the objects of the IPO Issue, will be met through internal accruals. Unutilized IPO funds of `2,580.67 lacs as on March 31, 2012, were temporarily invested in debt-based mutual funds, pending their use for the objects of the issue. As on March 31, 2011, expenses aggregating to `1,596.82 lacs incurred by the Company in relation to said IPO activity (Share issue expenses) were accounted for as “Miscellaneous Expenditure” (to the extent not written off or adjusted)”. These expenses (net of deferred taxes of `448.45 lacs) have been written-off against the securities premium received from the Initial Public Offer of the equity shares of the Company. 37. Subsidiary companies i.e., Firefly e-ventures Limited , HT Mobile Solutions Limited , HT Music and Entertainment Limited, HT Burda Media Ltd and HT Learning Centers Limited has accounted for deferred tax assets (net) till March 31, 2012 amounting to `5,795.72 lacs (Previous Year `4,543.60 lacs) `192.66 lacs (Previous year `134.02 lacs), `8.20 lacs (Previous year `9.26 lacs) and 1,653.93 lacs (Previous year 1,003.52 lacs) and `422.88 lacs ( Previous year- Nil) respectively. The companies are confident that subsequent realization of the deferred tax assets created is virtually certain in the near future based on future projection and existing business model. The initial investment and expense in the internet and mobile marketing industry is quite substantial resulting in operating losses in the initial years. As the business grows, the operating margins improve enabling faster absorption of losses. 38. In terms of the Scheme of Arrangement and Restructuring u/s 391-394 read with Sections 100-104 of the Companies Act, 1956 between HT Media Limited and HT Music and Entertainment Company Limited (Demerged Company) as approved by the Hon’ble Delhi High Court, the assets and liabilities of the radio business of the Demerged company were taken over as at January 1, 2009. One Time Entry Fees (OTEF) paid for acquiring license for Radio business paid by the Demerged Company in earlier years which was capitalized and amortized on straight line basis, shall be amortized against the credit balance of Securities Premium Account over the useful life of the said licenses or their unexpired period (whichever is lower) from date of 135
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HT Media Limited Annual Report 2011
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Contents Staying ahead. Consistentl
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18.4% Revenue CAGR FY 05 - FY 12 29
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14 Cities Hindustan Times 19Edition
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Shine.com India’s leading job por
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10 Shine.com is India’s leading j
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12 Times are tough, but, as always,
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14 On HT Media's performance in FY
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Management Discussion & Analysis OV
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literacy leading to increased reade
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tremendous growth in clients served
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The highlights of consolidated fina
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During the year, the Company carrie
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Financial Year 1st��
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AUDITORS’ REPORT To The Members o
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tax, customs duty, excise duty and
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STATEMENT OF PROFIT AND LOSS FOR TH
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HT Media Limited Particulars 31 Mar
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In respect of fixed assets (Plant &
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Sale of News & Publications, Waste
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t) Segment Reporting Policies Ident
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(e) Details of shareholders holding
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HT Media Limited 1. Overdraft facil
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12A. INTANGIBLE ASSETS (` in lacs)
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Particulars As at 31 March, 2012 3.
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Particulars As at 31 March, 2012 HT
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Particulars As at 31 March, 2012 HT
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19. CASH AND BANK BALANCES HT Media
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25. (INCREASE) / DECREASE IN INVENT
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31. Contingent Liabilities a. Durin
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33. In terms of the Scheme of Arran
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Plan B HT Media Limited Particulars
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HT Media Limited Weighted average f
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Amount recognized in the statement
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Page 87 and 88: Related Party Transactions during t
Page 89 and 90: Transactions during the year ended
Page 93 and 94: HT Media Limited 40. Details of loa
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Page 97 and 98: AUDITORS’ REPORT To The Board of
Page 99 and 100: HT Media Limited CONSOLIDATED STATE
Page 101 and 102: Particulars For the year ended 31 M
Page 103 and 104: ) Use of estimates The preparation
Page 105 and 106: value of the leased property and pr
Page 107 and 108: differences on such contracts are r
Page 109 and 110: HT Media Limited w) Measurement of
Page 111 and 112: (e) Details of shareholders holding
Page 113 and 114: Particulars As at 31 March, 2012 HT
Page 115 and 116: 10. SHORT-TERM BORROWINGS Particula
Page 117 and 118: 13. TANGIBLE ASSETS AND INTANGIBLE
Page 119 and 120: 14. NON CURRENT INVESTMENTS Particu
Page 123 and 124: 18. CURRENT INVESTMENTS Particulars
Page 127 and 128: 19. INVENTORIES (valued at lower of
Page 129 and 130: 23. OTHER CURRENT ASSETS Particular
Page 131 and 132: 27. (INCREASE) / DECREASE IN INVENT
Page 133 and 134: 30. DEPRECIATION & AMORTISATION Par
Page 135: HT Media Limited 34. Segment Inform
Page 139 and 140: HT Media Limited The details of act
Page 141 and 142: A. Details of Options granted as on
Page 143 and 144: HT Media Limited The estimated fair
Page 145 and 146: 42. Names of Related Parties Holdin
Page 149 and 150: HT Media Limited The above Goodwill
Page 151 and 152: As per our report of even date For
Page 153 and 154: STATEMENT PURSUANT TO SECTION 212 O
Page 156: HT Media Limited Hindustan Times Ho
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