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Annual Report 2011-12 148 II HT Media Limited Commitment under EPCG Scheme For the (` in lacs) For the year ended year ended March 31, 2012 March 31, 2011 The Company has obtained licenses under the Export Promotion Capital Goods (EPCG’) Scheme for importing capital goods at a concessional rate of customer duty against submission of bonds in September 2008. 20,976.38 20,976.38 Under the terms of the respective scheme, the Company is required to export goods or/and services of FOB value equivalent to eight times the duty saved in respect of licenses within eight years from the date of issuance of license. Accordingly, the Company is required to export goods and services of FOB value of `20,976.38 lacs (previous year `20,976.38 lacs) by September, 2016. 47. Expenditure during construction period (` in lacs) Particulars As at As at 31 March, 2012 31 March, 2011 Tangible Intangible Tangible Intangible Balance brought forward 2.95 - 948.48 - Add: Incurred during the year - - - Trial Run expenses 0.86 - 19.29 - - Personnel expenses - 117.20 84.31 - - Rent - 22.64 - - Raw Materials, Stores and consumables consumed** 24.30 - 213.43 - -Travelling and Conveyance 6.96 31.19 17.44 - -Legal and Professional fees - 29.73 110.09 - -Power and fuel - - 121.65 - -Finance Charges - - 0.16 - -Housekeeping Charges - - 0.24 - -Job work Charges - - 146.15 - -Crane hire Charges - - 13.08 - -Miscellaneous expenses - - 18.72 - -Scrap Sales - - (31.41) - 32.12 178.12 735.78 - Less: Allocated to fixed assets during the year 35.07 124.38 1,681.32 - Balance carried forward* * included under capital work in progress. - 53.74 2.95 - ** Net of realizable/realized value of finished goods produced during trial run of Nil (Previous year `490.30 lacs)
As per our report of even date For S. R. Batliboi & Co. Firm Registration Number: 301003E Chartered Accountants For and on behalf of the Board of Directors of HT Media Limited per Manoj Gupta Shobhana Bhartia Rajiv Verma Partner Chairperson & Chief Executive Officer Membership No. 83906 Editorial Director & Whole Time Director Dinesh Mittal Piyush Gupta Place : New Delhi Group General Counsel Group Chief Financial Date : May 18, 2012 & Company Secretary Officer HT Media Limited 48. The Company follows Accounting Standard (AS-22) “Accounting for taxes on Income” as notified by the Companies (Accounting Standards) Rules, 2006 (as amended). Movement of deferred tax is recognized as below. (` in lacs) As at 31 March, 2012 As at 31 March, 2011 Deferred Tax Liability/(Assets) as at the end of Year (3,472.94) (855.06) Add: Deferred tax asset of HT Learning Centers Limited consequent to acquisition of HT Education Ltd [Refer note 44 (a)] 168.82 Add: Deferred Tax Assets created on Miscellaneous Expenditure adjusted 448.44 against share premium account in Hindustan Media Ventures Ltd. Less: Opening Deferred Tax Liability/(Assets) (855.06) 1,780.67 Deferred Tax credit recognized in consolidated statement of profit and loss 2,449.06 2,187.29 49. Current tax is net of tax credit amounting to `65.55 lacs (Previous year includes tax charge `211.88) with respect to previous years. 50. Deposit with financial institution includes `1,080.58 lacs (Previous year `649.95 lacs) deposits pledged with bank and held as margin money to settle related obligations as and when they arise during the normal course of business. This amount is considered as restricted cash and hence is not considered ‘Cash and Cash equivalents’. 51. Previous year figures Till the year ended March 31, 2011, the Company was using pre-revised Schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended March 31, 2012, the Revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company. The Company has reclassified previous year figures to conform to this year’s classification. 149
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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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Related Party Transactions during t
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Transactions during the year ended
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Transactions during the year ended
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HT Media Limited 40. Details of loa
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HT Media Limited 43. Based on the i
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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 and 138: HT Media Limited 35. During the yea
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 147 and 148: Transactions during the year ended
Page 149: HT Media Limited The above Goodwill
Page 153 and 154: STATEMENT PURSUANT TO SECTION 212 O
Page 156: HT Media Limited Hindustan Times Ho
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