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Annual Report 2011-12 48. Imported and indigenous raw materials, stores and spares consumed (excluding consumption included in expenditure during construction year) 94 Particulars Percentage of total consumption Value (`in lacs) 31 March, 2012 31 March, 2011 31 March, 2012 31 March, 2011 i) Raw materials - Imported 69.94 74.41 27,970.73 26,451.12 - Indigenously obtained 30.06 25.59 12,159.53 9,094.92 100.00 100.00 40,130.26 35,546.05 ii) Stores and Spares - Imported 15.02 19.50 495.97 574.91 - Indigenously obtained 84.98 80.50 2,806.59 2,373.31 100.00 100.00 3,302.56 2,948.22 49. Expenditure during construction period Particulars As at 31 March, 2012 As at 31 March, 2011 Tangible Intangible Tangible Intangible Balance brought forward Add: Incurred during the year 2.95 - - - -Trial Run Expenses 0.86 - 2.89 - -Travelling and Conveyance 31.19 6.09 - -Legal and professional fees - 5.31 - -Miscellaneous Expenses - 0.70 - -Finance Charges - 0.16 - 3.80 - 15.15 - Less: Allocated to fixed assets during the year 3.80 - 12.20 - Balance Carried Forward - 31.19 2.95 - 50. Capital Advances include `100.94 lacs (Previous year `231.92 lacs) paid towards Company’s proportionate share for right to use in the Common Infrastructure for channel transmission (for its four stations) to be built on land owned by Prasar Bharti and to be used by all the broadcasters at respective stations as per the terms of bid document on FM Radio Broadcasting (Phase II). 51. Current tax is net of tax credit amounting to `65.55 lacs (Previous year includes tax charge `211.88) with respect to earlier years. 52. 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. 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
AUDITORS’ REPORT To The Board of Directors HT Media Limited 1. We have audited the attached Consolidated Balance Sheet of HT Media Limited, comprising of its Subsidiaries (Hindustan Media Ventures Limited, HT Music and Entertainment Company Limited, HT Burda Media Limited, HT Digital Media Holdings Limited, Firefly e-Ventures Limited, HT Mobile Solutions Limited, HT Overseas Pte. Ltd., Singapore, HT Education Limited, HT Learning Centers Limited, Ed World Private Limited, HT Global Education) and Joint Venture (India Education Services Private Limited) hereinafter referred as HT Media Group, as at March 31, 2012, and also the Consolidated statement of profit and loss and the Consolidated Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the HT Media Limited’s management and have been prepared by the management on the basis of separate financial statements and other financial information regarding its subsidiaries and joint venture. Our responsibility is to express an opinion on the Consolidated Financial Statements based on our audit. 2. We conducted our audit in accordance with the Auditing Standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes, examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. We did not audit the financial statements of six subsidiaries (HT Mobile Solutions Limited, HT Digital Media Holdings Limited, HT Overseas Pte. Ltd., Singapore, HT Learning Centers Limited, HT Education Limited and HT Global Education) of HT Media Limited whose financial statements reflect total assets of `2,067.90 lacs as at March 31, 2012 and total revenues of `1,483.54. lacs for the year ended March 31, 2012 and increase in cash flows amounting to `150.55 lacs for the year ended March 31, 2012 have been considered for the purpose of preparation of these consolidated financial statements. The financial statements and other financial information of the above subsidiaries have been audited by other auditors whose report have been furnished to us, and our opinion, in so far as it relates to the amounts included in respect of the subsidiaries and joint venture is based solely on the report of the other auditors. 4. Consolidated Financial Statements includes deferred tax assets (net) of `5,795.72 lacs, `1,653.93 lacs, `192.66 lacs, `8.20 lacs and `422.88 lacs lacs in respect of the Subsidiary Companies - Firefly e-Ventures Limited, HT Burda Media Limited, HT Mobile Solutions Limited, HT Music and Entertainment Company Limited, and HT Learning HT Media Limited Centers Limited respectively as on March 31, 2012. The management of the group is confident that subsequent realization of the deferred tax assets is virtually certain in the near future based on future projections and existing business model. However, in our opinion, the basis is not in line with the requirements of Accounting Standard 22 notified pursuant to the Companies (Accounting Standards) Rules, 2006 (as amended) to determine virtual certainty. This had caused us to qualify our audit opinion on the consolidated financial statements relating to preceding year in respect of deferred tax assets of `4,543.60 lacs, `134.02 lacs, `9.26 lacs and `1,003.52 lacs recognized by Subsidiary Companies Firefly e-Ventures Limited, HT Mobile Solutions Limited, HT Music and Entertainment Company Limited and HT Burda Media Limited respectively. We further report that had the observation made by us in paragraph above been considered, the consolidated profits for the year and consolidated reserves & surplus would have decreased by `8,073.39 lacs each and consolidated deferred tax assets would have decreased by `8073.39 lacs (Refer Note No.4 in the Consolidated Financial Statements). 5. Except for the effect of the matter stated in paragraph 4 above, based on our audit and on consideration of reports of other auditors on separate financial statements and on the other financial information of the subsidiaries and joint venture, and to the best of our information and according to the explanations given to us, we are of the opinion that the attached consolidated financial statements give a true and fair view in conformity with the accounting principles generally accepted in India: (i) in the case of the Consolidated Balance Sheet of the consolidated state of affairs of HT Media Group as at March 31, 2012; (ii) in the case of the Consolidated statement of profit and loss, of the Profit of the HT Media Group for the year ended on that date; and (iii) in the case of the Consolidated Cash Flow Statement, of the Cash Flows of the HT Media Group for the year ended on that date. For S.R. Batliboi & Co. Firm Registration No. 301003E Chartered Accountants per Manoj Gupta Partner Membership No.: 83906 Place: New Delhi Date: May 18, 2012 95
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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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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 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: HT Media Limited 43. Based on the i
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
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
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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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