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Annual Report 2011-12 74 Segment Information for the year ended March 31, 2012 Information about Primary Segments Particulars As at 31 March, 2012 Printing & Publishing of Newspaper and Periodicals Radio Broadcast & Entertainment Total Printing & Publishing of Newspaper and Periodicals As at 31 March, 2011 Radio Broadcast & Entertainment (` in lacs) Revenue External 1,22,633.77 7,392.77 1,30,026.54 1,12,331.76 6,947.36 1,19,279.12 Inter-Segment - - Unallocated Income 1,887.43 2,860.04 Total Revenue Results 1,22,633.77 7,392.77 1,31,913.97 1,12,331.76 6,947.36 1,22,139.16 Segment Results 20,663.00 (424.56) 20,238.44 23,189.54 749.90 23,939.44 Unallocated Net Expenses 2,399.78 225.51 Other Income 6,822.84 3,160.84 Interest Expenses 2,858.16 1,966.65 Operating Profit - - 21,803.34 - - 24,908.12 Exceptional Item (Net) - Profit Before Taxation 21,803.34 24,908.12 Provision for Taxation (5,820.94) (7,149.06) Profit after Taxation 15,982.40 17,759.06 Other Information Particulars As at 31 March, 2012 Printing & Publishing of Newspaper and Periodicals Radio Broadcast & Entertainment Total Printing & Publishing of Newspaper and Periodicals As at 31 March, 2011 Radio Broadcast & Entertainment Total (` in lacs) Segment Assets 82,776.37 9,175.49 91,951.86 82,742.27 9,966.22 92,708.49 Unallocated Corporate Assets 1,18,158.70 1,03,689.89 Total Assets - - 2,10,110.56 - - 1,96,398.38 Segment Liabilities 60,557.08 1,580.34 62,137.42 51,403.29 1,964.76 53,368.05 Unallocated Corporate Liabilities 16,954.43 26,133.93 Total Liabilities - - 79,091.85 - - 79,501.98 Capital Expenditure (Includes CWIP but excludes Capital Advances) 1,645.93 250.60 1,896.53 2,258.04 51.29 2,309.33 Depreciation / Amortisation 5,531.59 320.00 5,851.59 5,075.30 373.94 5,449.24 Unallocated Depreciation / Amortisation 179.41 179.59 Non- Cash Expenses other than Depreciation / Amortisation 674.52 575.95 1,250.47 638.89 99.76 738.65 Unallocated Non- Cash Expenses other than Depreciation / Amortisation 1,522.66 687.00 Total
33. In terms of the Scheme of Arrangement and Restructuring u/s 391-394 read with Sections 100-104 of the Companies Act, 1956 between the Company 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, is now 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 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. 34. The Company has till date invested `5,500 lacs in Firefly e-Ventures Limited through its wholly owned subsidiary company HT Digital Media Holdings Limited (formerly known as Hindustan Media Limited) by way of Equity Share Capital. Firefly is engaged in the internet related business like Job portals, Social Networking, etc. Firefly is presently operating three websites [businesses] in the name of Shine.com, HT Campus.com and Desimartini. com. Firefly has been presently incurring losses and the accumulated losses as at March 31, 2012 are `12,122.81 lacs (Previous year `9,519.67 lacs). The Company, however, is of the view that the nature of business of Firefly being such, the losses were expected in the initial years and that based on future projections prepared by Firefly for next five years expects to generate sufficient income which will enable it to offset the entire amount of accumulated losses incurred up to date. In view of this, no impairment provision is considered against this investment. 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. HT Media Limited 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 35. Share Based Compensation 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 Extraordinary General Meeting held on October 21, 2005, during an earlier year, the Company has given interestfree 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 companies 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. 75
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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
Page 26: During the year, the Company carrie
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Page 41 and 42: Financial Year 1st��
Page 43 and 44: ��
Page 45 and 46: AUDITORS’ REPORT To The Members o
Page 47 and 48: tax, customs duty, excise duty and
Page 49 and 50: STATEMENT OF PROFIT AND LOSS FOR TH
Page 51 and 52: HT Media Limited Particulars 31 Mar
Page 53 and 54: In respect of fixed assets (Plant &
Page 55 and 56: Sale of News & Publications, Waste
Page 57 and 58: t) Segment Reporting Policies Ident
Page 59 and 60: (e) Details of shareholders holding
Page 61 and 62: HT Media Limited 1. Overdraft facil
Page 63 and 64: 12A. INTANGIBLE ASSETS (` in lacs)
Page 65 and 66: Particulars As at 31 March, 2012 3.
Page 67 and 68: Particulars As at 31 March, 2012 HT
Page 71 and 72: 19. CASH AND BANK BALANCES HT Media
Page 73 and 74: 25. (INCREASE) / DECREASE IN INVENT
Page 75: 31. Contingent Liabilities a. Durin
Page 79 and 80: Plan B HT Media Limited Particulars
Page 81 and 82: HT Media Limited Weighted average f
Page 83 and 84: Amount recognized in the statement
Page 85 and 86: Proportion of Company’s interest
Page 87 and 88: Related Party Transactions during t
Page 89 and 90: Transactions during the year ended
Page 91 and 92: 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 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
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19. INVENTORIES (valued at lower of
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23. OTHER CURRENT ASSETS Particular
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27. (INCREASE) / DECREASE IN INVENT
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30. DEPRECIATION & AMORTISATION Par
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HT Media Limited 34. Segment Inform
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HT Media Limited 35. During the yea
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HT Media Limited The details of act
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A. Details of Options granted as on
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HT Media Limited The estimated fair
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42. Names of Related Parties Holdin
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Transactions during the year ended
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HT Media Limited The above Goodwill
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As per our report of even date For
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STATEMENT PURSUANT TO SECTION 212 O
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HT Media Limited Hindustan Times Ho
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