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Annual Report 2011-12 Merger of Radio business as per the approved Scheme. Consequently an amount of `767.52 lacs (Previous year `765.44 lacs) has been debited to the Securities Premium Account in the current year. 39. One of the subsidiary, HT Burda Media Limited, has appointed independent consultants for conducting a Transfer pricing study to determine whether the transactions with associated enterprises were undertaken at “arms length basis”. The management confirms that all international transactions with associated enterprises are undertaken at negotiated contracted prices on usual commercial terms. Further there has been no change in the terms of such international transactions till March 31, 2012 40. Share Based Payments The Institute of Chartered Accountants of India has issued a Guidance Note on Accounting for ‘Employees Share-based Payments’, which is applicable to employee share based payment plans. The scheme detailed below is managed and administered, compensation benefits in respect of the scheme is assessed and accounted by the Group Company and parent company, to have an understanding of the scheme, relevant disclosures are given below. I. As approved by the shareholders at their Extra-ordinary General Meeting held on October 21, 2005, during an earlier year, the Company has given interest-free loan of `2,174.28 lacs to HT Media Employee Welfare Trust which in turn purchased 468,044 Equity Shares of `10/- each of HT Media Limited (as on date equivalent to 2,340,220 Equity Shares of `2/- each) from the open market [average cost per share – `92.91 based on Equity Share of `2/- each], for the purpose of granting Options under the ‘HTML Employee Stock Option Scheme’ (the Scheme), to eligible employees. During the financial year 2007-08, the Scheme was modified to the effect – (a) Options granted w.e.f. September 15, 2007 shall vest as per previous revised schedule of vesting period; and (b) to extend the coverage of the Scheme to the eligible full-time employees of the subsidiary company. The Options granted under the Scheme shall vest as per the Schedules of vesting period which are hereinafter referred to as ‘Plan A’, ‘Plan B’ (applicable to Options granted w.e.f. September 15, 2007) and Plan C (applicable to Options granted w.e.f. October 8, 2009). Options granted under both the plans are exercisable for a period of 10 years after the scheduled vesting date of the last tranche of the Options as per the Scheme. The relevant details of the Scheme are as under. Particulars Plan A Plan B Plan C Dates of Grant 09.01.2006 25.09.2007 08.10.2009 05.12.2006 20.05.2009 23.01.2007 31.05.2011 Date of Board approval 20.09.2005 12.10.2007 30.09.2009 Date of Shareholders’ approval 21.10.2005 30.11.2007 03.10.2009 Number of options granted 889,760* 773,765 486,932 99,980* 453,982 228,490 83,955 Method of Settlement Equity Equity Equity Vesting Period (see table below) 12 to 48 months 12 to 48 months 12 to 48 months Fair Value on the date of Grant 50.05 114.92 68.90 85.15 50.62 95.49 113.70 Exercise Period 10 years after the scheduled vesting date of the last tranche of the Options, as per the Scheme Vesting Conditions * Adjusted for face value of `2/- after stock split Employee remaining in the employment of the Company during the vesting period Note: Approvals obtained from the Board of Directors and Shareholders of the Company for the ‘Plan B’ were with retrospective effect from 15.09.2007 Details of the vesting period are: Vesting Period from the Grant date Vesting Schedule 136 Plan A Plan B Plan C On completion of 12 months 25% 25% 75% On completion of 24 months 25% 25% 25% On completion of 36 months 25% 25% - On completion of 48 months 25% 25% -
HT Media Limited The details of activity under Plan A and Plan B (effective from 15th September, 2007) of the Scheme have been summarized below:- Plan A Particulars 2011-2012 2010-2011 Number of options Weighted Average Exercise Price(`) Number of options Weighted Average Exercise Price(`) Outstanding at the beginning of the year 597,020 97.01 597,020 97.01 Granted during the year - - - - Forfeited during the year - - - - Exercised during the year - - - - Expired during the year - - - - Outstanding at the end of the period 597,020 97.01 597,020 97.01 Exercisable at the end of the period 597,020 97.01 579,020 97.01 Weighted average remaining contractual life (in years) 7.85 8.85 Weighted average fair value of options granted during the year - - Plan B Particulars 2011-2012 2010-2011 Number of options Weighted Average Exercise Price(`) Number of options Weighted Average Exercise Price(`) Outstanding at the beginning of the year 446,582 92.30 453,982 92.30 Granted during the period 83,955 160.80 - - Forfeited during the period 54,327 149.15 - - Exercised during the period 7400 92.30 7400 92.30 Expired during the period - - - - Outstanding at the end of the period 468,810 97.98 446,582 92.30 Exercisable at the end of the period 207,564 92.30 106,092 92.30 Weighted average remaining contractual life (in years) 11.31 12.15 Weighted average fair value of options granted during the year 113.70 - Plan C Particulars 2011-2012 2010-2011 Number of options Weighted Average Exercise Price(`) Number of options Weighted Average Exercise Price(`) Outstanding at the beginning of the year 410,197 117.55 410,197 117.55 Granted during the period - - - - Forfeited during the period - - - - Exercised during the period - - - - Expired during the period - - - - Outstanding at the end of the period 410,197 117.55 410,197 117.55 Exercisable at the end of the period 410,197 117.55 410,197 117.55 Weighted average remaining contractual life (in years) 9.53 10.53 Weighted average fair value of options granted during the year - - 137
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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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Proportion of Company’s interest
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Page 89 and 90: Transactions during the year ended
Page 93 and 94: HT Media Limited 40. Details of loa
Page 95 and 96: HT Media Limited 43. Based on the i
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 and 136: HT Media Limited 34. Segment Inform
Page 137: HT Media Limited 35. During the yea
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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