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Annual Report 2011-12 80 The estimated fair value of each stock options granted on each date was made using the Black-Scholes option pricing model with the following assumptions: (` in lacs) 2011-2012 2010-2011 Grant Date April 1, 2010 Expected Volatility No options have 0% Life of the options granted (Vesting and exercise period) in years been granted 6 to 9 years Average risk-free interest rate during the year 7.69% - 8.12% Expected dividend yield 0% C. The details of exercise price for stock options outstanding at the end of the current year ended March 31, 2012 are: Year Range of exercise prices Number of options outstanding Weighted average remaining contractual life of options (in years) Weighted average exercise price (`) 2011-12 `1.35 to `60 250,394 9.58 21.33 2010-11 `1.35 to `60 273,049 10.58 21.22 36. Options granted are exercisable for a period of 10 years after the scheduled vesting date of last tranche as per the Scheme The Company has recognized an expense of `102.15 lacs (Previous year `Nil) during the year for intrinsic value charge of ESOPs issued to it’s employees under this Scheme. Difference between employee compensation cost (calculated using the intrinsic value of stock options) and the employee compensation cost (calculated on the fair value of the options) is `27.02 lacs (Previous Year `5.34 lacs). Had the fair value method been used for accounting in all the schemes above , the profit would have been lower by `189.57 lacs (Previous year `290.97 lacs) and adjusted basic and diluted EPS would have been `6.71 (Previous year `7.44 per share) Commitments Particulars As at As at 31 March, 2012 31 March, 2011 A. Capital Commitments Estimated amount of contracts remaining to be executed on capital account and not provided for (net of capital advances) 469.09 534.71 B. Other Commitments Commitment under EPCG Scheme The Company has obtained licenses under the Export Promotion Capital Goods (‘EPCG’) Scheme for importing capital goods at a concessional rate of customs duty against submission of bonds in September 2008. 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 lac (Previous year `20,976.38 lacs) by September, 2016. 37. Gratuity (Post Employment Benefit plan) The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of services gets a gratuity on separation at 15 days salary (last drawn salary) for each completed year of service. The Company has formed a Gratuity Trust to which contribution is made based on actuarial valuation done by independent valuer. The following table summarizes the components of net benefit expenses recognized in the Profit and Loss Account and the funded status and amount recognized in the Balance Sheet for respective plans:
Amount recognized in the statement of Profit and Loss <strong>HT</strong> <strong>Media</strong> Limited Particulars As at (` in lacs) As at 31 March, 2012 31 March, 2011 Current service cost 210.36 182.98 Interest cost on benefit obligation 94.60 81.79 Expected return on plan assets (70.90) (71.72) Net actuarial (gain) / loss recognized in the year (0.70) (5.81) Net Benefit Expense 233.36 187.24 Actual return on planned assets 76.04 22.93 Amount recognised in Balance Sheet Particulars As at (` in lacs) As at 31 March, 2012 31 March, 2011 Present value of funded obligations 1,349.99 1,118.36 Fair value of plan assets 1059.08 886.25 Total (Deficit) (290.91) (232.11) Present value of unfunded obligations - - Less: Unrecognised past service cost - - Net (liability)/Asset recognized in Balance Sheet (290.91) (232.11) Changes in the present value of obligation are as follows: Particulars As at (` in lacs) As at 31 March, 2012 31 March, 2011 Opening Present value of obligation 1,118.36 1,048.61 Current Service cost 210.36 182.98 Interest cost 94.60 81.79 Actuarial loss /(gains) on obligation 4.44 (54.61) Benefits paid* (77.77) (140.41) Present value of obligation at the end of the year 1,349.99 1,118.36 *Includes `6.57 lacs (Previous year `Nil) paid from own sources and not from planned assets Changes in the fair value of plan assets are as follows: Particulars As at (` in lacs) As at 31 March, 2012 31 March, 2011 Opening Fair value of plan assets 886.25 896.49 Expected return plan assets 70.90 71.72 Contributions by employer 167.99 107.25 Benefits paid (71.20) (140.41) Actuarial gain/ (losses) on plan assets 5.14 (48.80) Fair value of plan assets as at the end of the year 1,059.08 886.25 The major categories of plan assets as a percentage of the fair value of total plan assets are as follows: Particulars As at (` in lacs) As at 31 March, 2012 31 March, 2011 Investment in Funds managed by Insurer 100% 100% 81
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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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Page 41 and 42: Financial Year 1st��
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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 and 76: 31. Contingent Liabilities a. Durin
Page 77 and 78: 33. In terms of the Scheme of Arran
Page 79 and 80: Plan B HT Media Limited Particulars
Page 81: HT Media Limited Weighted average f
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
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
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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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