41 - Panorama Television Private Limited - Reliance · PDF filePANORAMA TELEVISION PRIVATE LIMITED 679 Balance Sheet as at 31st March, 2015 ... D.Vijaya Kumar Ramoji Rao Ch.Kiron Partner

678 PANORAMA TELEVISION PRIVATE LIMITED

Panorama Television Private Limited

679PANORAMA TELEVISION PRIVATE LIMITED

Balance Sheet as at 31st March, 2015

The accompanying Notes 1 to 22 are an integral part of the financial statements.

In terms of our Report of even date

For A.K.Sabat & Co. For and on behalf of the Board of DirectorsChartered Accountants(Firm Registration No.321012E)

D.Vijaya Kumar Ramoji Rao Ch.KironPartner Chairman DirectorMembership No. : 051961

Hyderabad,Dated: 09-04-2015

(Amount in Rupees)

Note As at As atMarch 31, 2015 March 31, 2014

EQUITY AND LIABILITIES

Shareholder’s fundsShare capital 1 249,596,080 249,596,080Reserves and surplus 2 1,014,269,396 1,063,970,398

1,263,865,476 1,313,566,478

Non-current liabilitiesLong-term provisions 3 67,413,065 23,482,689

Current liabilitiesShort-term borrowings 4 250,000,000 -Trade payables 5 453,109,805 104,705,231Other current liabilities 6 138,701,154 538,585,916Short-term provisions 7 74,082,103 113,144,747

915,893,062 756,435,893

TOTAL 2,247,171,603 2,093,485,061

ASSETSNon-current assets

Fixed assets 8- Tangible assets 410,367,495 199,074,625- Intangible assets 23,450,410 38,106,105- Capital work-in-progress 4,965,155 -Deferred tax assets (net) 9 58,757,253 25,438,309Long-term loans and advances 10 155,086,650 36,362,035

652,626,963 298,981,074

Current assetsInventories 11 4,339,297 4,221,019Trade receivables 12 816,996,153 440,262,893Cash and bank balances 13 175,789,035 853,826,340Short-term loans and advances 14 594,025,694 476,466,645Other current assets 15 3,394,461 19,727,090

1,594,544,639 1,794,503,987

TOTAL 2,247,171,603 2,093,485,061


Statement of Profit and Loss for the year ended March 31, 2015

(Amount in Rupees )

Note For the year ended For the year endedMarch 31, 2015 March 31, 2014

Revenue

Revenue from operations 16 1,799,853,514 1,419,981,494

Other income 17 74,271,797 47,191,758

TOTAL REVENUE 1,874,125,311 1,467,173,252

Expenses

Employee benefits expense 18 619,918,329 307,914,812

Finance Costs 20 16,995,782 -

Depreciation and amortisation expense 8 (2,258,965) 43,041,612

Other expenses 19 1,158,629,963 492,946,068

TOTAL EXPENSES 1,793,285,109 843,902,492

Profit before exceptional items and tax 80,840,202 623,270,760

Exceptional items 21 124,879,580 -

Profit/(Loss) before tax (44,039,378) 623,270,760

Tax expense

Current tax - 214,889,543

Deferred tax (33,318,944) (80,489)

(33,318,944) 214,809,054

Profit/(Loss) for the year (10,720,434) 408,461,705

Earning per equity share (Face value of Rs.10 each)

Basic (in Rs.) (0.43) 16.36

Diluted (in Rs.) (0.43) 16.36

The accompanying Notes 1 to 22 are an integral part of the financial statements.






Cashflow Statement for the year ended March 31, 2015

(Amount in Rupees)

For the Year ended For the Year endedMarch 31, 2015 March 31, 2014

A. Cash flow from Operating Activities

Profit /(Loss) before tax (44,039,378) 623,270,759

Adjustments for:

Loss/ (Profit) on sale/discard of Assets (65,781) (3,425,711)

Depreciation and Amortisation expense (2,258,965) 43,041,612

Assets over 5 years fully depreciated 96,179,580 -

Provision for Bad and doubtful debts 10,952,868 13,858,180

Loss/ (Profit) on foreign exchange differences (212,977)

Interest paid 16,995,782 -

Liabilities writtenback (1,955,269) -

Interest income (30,168,318) (38,620,154)

Operating profit before working capital changes 45,427,542 638,124,686

Adjustments for:

Trade receivables (416,386,128) 50,880,886

Inventories (118,278) (1,281,894)

Long-term loans and advances (118,724,615) (24,502,119)

Short-term loans and advances (117,559,048) (214,769,755)

Other current assets - -

Trade payables 388,844,812 25,572,924

(Decrease)/Increase in Deferred Tax assets (33,318,944) (80,488)

Decrease/ (Increase) in Long-term provisions 43,930,376 (4,076,242)

Short-term provisions 39,062,643 (5,189,481)

Other current liabilities (399,884,762) 474,948,550

Cash generated from operations (568,726,403) 939,627,067

Taxes paid (60,053,172) (224,596,458)

Cash flow before exceptional items (628,779,575) -

Exgratia provision of earlier years reversed back (40,440,238) -

Provision for Bad and doubtful debts 28,700,000 -

Depreciation effect in expenses 2,258,965 -

Net cash (used) in / from Operating Activities (638,260,848) 715,030,609


Cashflow Statement for the year ended March 31, 2015 (Cont.)

For the Year ended For the Year endedMarch 31, 2015 March 31, 2014

B. Cash flows from Investing Activities

Purchase of Fixed Assets (308,469,202) (91,071,345)

Purchase of intangibles (21,220,447) (3,923,126)

Capial work in progress (4,965,158) -

Sale of Fixed Assets 85,513 4,119,444

Interest received 46,500,946 21,501,985

Net cash used in Investing Activities (288,068,348) (69,373,042)

C. Cash flows from Financing Activities

Increase/(Decrease) in short-term borrowings 250,000,000 -

Interest paid (1,708,110) -

Net cash from Financing Activities 248,291,892 -

Net decrease in cash and cash equivalents (A + B + C) (678,037,305) 645,657,567

Cash and cash equivalents at the beginning of the year 853,826,340 208,168,773

Cash and cash equivalents at the end of the year 175,789,035 853,826,340

In terms of our Report attached





Notes to the Financial Statements

(Amount in Rupees)As at As at

March 31, 2015 March 31, 20141 Share capital

Authorised :

Equity shares 2,50,00,000 (previous year 2,50,00,000), of Rs.10 each 250,000,000 250,000,000

Issued :Equity shares 2,49,59,608 (previous year 2,49,59,608), of Rs.10 each 249,596,080 249,596,080

Subscribed and fully paid-up :Equity shares 2,49,59,608 (previous year 2,49,59,608), of Rs.10 each 249,596,080 249,596,080

A. Reconciliation of number of shares and amount outstanding As at As at

31.03.2015 31.03.2014

At the beginning of the year Nos. 2,49,59,608 2,49,59,608 249,596,080 249,596,080Issue of shares Nos. - - - -

At the end of the year Nos. 2,49,59,608 2,49,59,608 249,596,080 249,596,080

B. Rights and restrictions attached to the equity shares

The Company has only one class of equity shares having a par value Rs. 10 per share. Each holder of equity shares is entitled toone vote per share held. The dividend in case proposed by the Board of Directors will be subject to the approval of the shareholdersin the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity share holdersare eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to theirshareholding.

C. Equity shares held by the Holding company, Equator Trading Enterprises Private Limited - Nos. 2,49,59,608 (Previous year2,49,59,608)

D Shareholders holding more than 5% of equity sharesNos. % held Nos. % held

Equator Trading Enterprises Private Limited(Holding Company) 2,49,59,608 100.00 2,49,59,608 100.00

E Equity shares allotted as fully paid-up shares without payment being received in cash for the period of five years immediatelypreceding March 31,

As at As atMarch 31, 2015 March 31, 2014

Nos. Nos.Shares issued in the year 2010-11 as part of Scheme of Arrangement ofTelevision division of Ushodaya Enterprises Private Limited (UEPL)with the Company. 12,728 12,728

2 Reserves and surplusSecurities premium account **(Refer Note 22 - 1.2c) At the beginning and at the end of the year 341,741,485 341,741,485

Surplus in the Statement of Profit and Loss

At the beginning of the year 722,228,913 313,767,208

Less : Loss for the year (10,720,434) 408,461,705

Less : Carrying amount of assets whose remaining life is nil (38,980,568) -

At the end of the year 672,527,911 722,228,913

TOTAL 1,014,269,396 1,063,970,398



March 31, 2015 March 31, 2014


3 Long-term provisions

Provision for employee benefits

Gratuity (Refer Note 22-3.h) 20,552,323 -

Compensated absence 46,860,742 23,482,689

TOTAL 67,413,065 23,482,689

4 Short-term borrowingsUnsecured-Loan from related parties (Refer Note 22-3-j) [(Loan carries simpleinterest at the rate of 12% per annum and is for a period of 12 (Twelve) monthsand may be repaid prior to the maturity)] 250,000,000 -

5 Trade Payables 453,109,805 104,705,231

* Includes amount due to related parties Rs.42,12,10,242 (Previous year Rs.6,61,87,133)(Refer Note 22-3-j)

Based on the information available with the Company, the balance due to Micro and Small Enterprises as defined under theMicro, Small and Medium enterprises Development (MSMED) Act, 2006 is Rs. Nil (Previous year Rs. Nil) and no interestduring the year has been paid or payable under the terms of the MSMED Act,2006. Dues to Micro and Small Enterprises hasbeen determinded to the extent such parties have been identified on the basis of information collected by the Management. Thishas been relied upon by the auditors.


March 31, 2015 March 31, 2014

6 Other current liabilitiesInterest accrued but not due on borrowings 15,287,672 -

Other payables

Advance from customers 34,863,404 74,244,020

Capital creditors 23,136,713 21,880,599

Statutory liabilities 45,653,635 16,913,296

Book Overdraft - 420,006,819

Employee Dues 19,759,730 5,541,182

TOTAL 138,701,154 538,585,916

7 Short-term provisions

Provision for tax (net of taxes paid) - 59,900,120

Current portion of employee benefits

Gratuity (Refer Note 22-3.h) 17,370,885 855,472

Compensated Absence 11,717,743 5,908,091

Provision for expenses 44,993,475 -

Provision for ex-gratia - 46,481,063

TOTAL 74,082,103 113,144,746


Notes to the Financial Statements8.

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8




March 31, 2015 March 31, 20149 Deferred tax assets (net)

a) Deferred tax liability - (4,528,582)

- on difference between book balance and tax balances of fixed assets

b) Deferred tax assets

- Difference between book and tax balances of fixed assets 12,594,199 -

- Provision for compensated absences and gratuity 29,394,254 9,457,583

- Provision for bad and doubtful debts 16,768,800 20,509,309Total - (b) 58,757,254 29,966,891

Deferred tax assets (net) (b) - (a) 58,757,254 25,438,310

During the period credited to the Statement of Profit and Loss withdeferred tax (net) Rs.3,33,18,944 (Previous year Rs.80,489).

10 Long-term loans and advances(Unsecured, considered good)

Capital Advances 100,384,204 8,282,332

Security deposits 54,702,440 28,079,703

TOTAL 155,086,650 36,362,035

11 Inventories (At lower of cost or net realisable value)

Serials and programmes 646,118 975,254

Stores and spares 3,693,179 3,245,765

TOTAL 4,339,297 4,221,019

12 Trade receivables

Outstanding for the year exceeding six months from the datethey are due for payment

Unsecured, considered good 23,152,382 149,534,367

Unsecured, considered doubtful 52,492,656 13,858,180

Less : Provision for doubtful debts (52,492,656) (13,858,180)

Other Debts (Unsecured, considered good) 793,843,771 290,728,526

TOTAL 816,996,153 440,262,893

13 Cash and bank balances

Balance with banks in current accounts 59,482,153 50,120,887

Cheque on Hand - 249,000,000

Cash on hand 306,882 205,453

Other Bank balances-Deposit accounts- with maturity more than3 months and upto 12 months 116,000,000 554,500,000

TOTAL 175,789,035 853,826,340



14 Short-term loans and advances(Unsecured, considered good)

Income tax (net of provisions) 57,910,752 -

Loans and advances to Related Parties (Refer Note 22-3-j) 466,237,355 436,500,000

Others

Advance to vendors 32,824,616 9,555,176

Balances with Government Authorities 26,146,628 16,492,333

Prepaid expenses 9,852,566 11,861,106

Security deposits 1,053,778 2,058,030

TOTAL 594,025,694 476,466,645

15 Other current assets(Unsecured, considered good)

Interest accrued on fixed deposits

3,394,461 19,727,090

For the For theyear ended year ended

March 31, 2015 March 31, 2014

16 Revenue from operations

Advertisement revenue 1,613,281,450 1,295,558,798

Subscription revenue 183,822,015 122,423,853

Other operating revenue 2,750,049 1,998,843

TOTAL 1,799,853,514 1,419,981,494

17 Other income

Interest on bank deposits 30,168,318 38,620,156

Profit on sale of asset 65,781 3,425,711

Net gain on foreign exchange transactions and fluctuation - 140,509

Exgratia provision reversal 40,440,238 -

Liabilities no longer required written back 1,955,269

Miscellaneous receipts 1,642,191 5,005,382

TOTAL 74,271,797 47,191,758

18 Employee benefits expense

Salaries, bonus and other allowances 545,468,283 268,950,293

Contribution to Provident Fund and others 39,189,410 22,120,939

Gratuity expense 11,759,243 4,736,507

Staff welfare expenses 23,501,393 12,107,073

TOTAL 619,918,329 307,914,812


March 31, 2015 March 31, 2014


19 Other expenses

Power and fuel 33,463,565 28,576,702

Rent 57,795,648 26,836,116

Repairs 20,960,974 14,413,965

Advertisement & publicity expenses 48,709,914 27,700,747

Auditors remuneration 1,700,000 1,270,000

Provision for doubtful debts 10,952,868 13,858,180

Communication costs 33,699,222 21,763,701

Insurance 2,420,095 2,425,736

Legal & Professional charges 6,322,808 38,080,765

Loss on foreign exchange fluctuation (net) 212,977 -

Miscellaneous expenses 9,526,836 3,006,140

Commission & Brokerage 22,020,580 325,014

Office upkeep and maintenance 15,555,892 8,989,895

Printing and stationery 4,264,338 3,276,102

Rates and taxes 11,892,858 15,578,065

Staff recruitment and training expenses 18,020 226,085

Travelling and conveyance 57,471,063 26,045,215

Vehicle maintenance 31,418,402 15,437,460

Bank charges 243,900 126,450

Interest on delayed payment of taxes 199,704 6,388,378

Telecast & Uplink Fee 81,522,205 45,845,738

Cable Network Charges 405,250,847 -

Content Expenses 12,656,868 8,189,211

Studio & Equipment hire charges 43,435,418 6,977,096

Media Professional fee 90,574,091 51,803,589

Other Expenses News 39,981,310 15,267,093

Software Expenses - Commissioned 34,716,901 35,530,638

Software Expenses - Inhouse 81,642,660 75,007,988

TOTAL 1,158,629,964 492,946,068

20 Finance Cost

Interest on Inter-corporate deposit 15,287,672 -

Interest on Loan against fixed deposit 1,708,110 -

TOTAL 16,995,782 -

21 Exceptional Items

Provision for doubtful debts 28,700,000 -

Fixed Assets More than 5 years written off 96,179,580 -

TOTAL 124,879,580 -


For the For theyear ended year ended

March 31, 2015 March 31, 2014



Note 22: Significant Accounting Policies and Additional Notes to the Financial Statements for the year ended March 31, 2015.

1. Corporate Information:

1.1 Background

Panorama Television Private Limited, a Company registered under the Companies Act, 1956, is in the business of programproduction and broadcast of satellite television channels in Hindi, Urdu and other regional languages predominantly to Indianviewers. ETV-Rajasthan, ETV-Bihar, ETV-MP, ETV-UP, ETV-Urdu, ETV-Bangla, ETV-Kannada, ETV-Haryana/HP and ETV-Gujarathi are the channels owned and broadcast by the Company. ETV-Gujarathi was launched during the year. The channelsare distributed through cable operators, direct to home (DTH) and other service providers.

1.2 Scheme of Arrangement

a. Under Honourable High Court of Andhra Pradesh approved and regulatory complied Scheme of Arrangement underSection 391 to 394 of the Companies Act, 1956 business undertaking demerged from Ushodaya Enterprises Private Limited,comprising of ETV-Rajasthan, ETV-U.P., ETV-M.P., ETV-Bihar and ETV-Urdu vested with the Company. Accordingly,on February29, 2012 with effect from April 1, 2010 as the appointed date, assets and liabilities of the demerged undertakinghave been over at their respective book values on a going concern basis.

b. As per the Scheme of Arrangement, with effect from the appointed date and up to and including the Effective date, theDemerged company, among others, shall carry on and be deemed to have carried on the business and activities in relationto the Company and shall hold and stand possessed of the properties, rights, interests and assets relating to the Company,for and on account of and in trust for the Company and shall account for the same to the Company.

c. The Scheme of Arrangement has been accounted for under the Purchase method as prescribed under Accounting Standard14, Notified by Companies (Accounting Standard) Rules, 2006. Accordingly, the assets and liabilities of the televisiondivision as at April 1, 2010 have been taken over at their respective book values as specified in the Scheme. In complianceof the accounting treatment prescribed in the Scheme of Arrangement, necessary adjustments were made in the accounts.

2. Significant Accounting Policies

a. Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted AccountingPrinciples in India (Indian GAAP) to comply with the Accounting Standards notified under Section 211(3C) of the CompaniesAct, 1956 (Accounting Standards) Rules, 2006 (as amended) (“the 1956 Act”) (which continue to be applicable in respectof Section 133 of Companies Act, 2013 (“the 2013 Act”) in terms of General Circular 15/2013 dated 13 September, 2013of the Ministry of Corporate Affairs ) and the relevant provisions of the 1956 Act/ 2013 Companies Act, as applicable. Thefinancial statements have been prepared on accrual basis under the historical cost convention. The accounting policiesadopted in the preparation of the financial statements are consistent with those followed in the previous year.

b. Use of estimates

The preparation of financial statements in conformity with Indian GAAP requires judgements, estimates and assumptionsto be made that affect the reported amount of assets and liabilities, disclosure of contingent liabilities on the date offinancial statements and the reported amount of revenues and expenses during the reporting period. Difference betweenthe actual results and estimates are recognized in the period in which the results are known/materialise.

c. Fixed assets

Tangible Assets

a. Tangible Assets are stated at cost net of recoverable taxes, trade discounts and rebates and include amounts added onrevaluation, less accumulated depreciation and impairment loss, if any. The cost comprises purchase price, borrowingcosts and any cost directly attributable to bringing the asset to its working condition for its intended use.

b. Subsequent expenditures related to an item of tangible asset are added to its book value only if they increase thefuture benefits from the existing asset beyond its previously assessed standard of performance.

c. Projects under which are assets are not ready for their intended use are shown as Capital work-in-progress.

Intangible Assets

Intangible Assets are stated at cost of acquisition net of recoverable taxes less accumulated amortization/depletion andimpairment loss, if any. The cost comprises purchase price, borrowing costs, and any cost directly attributable to bringingthe asset to its working condition for the intended use



d. Depreciation and amortization

Tangible assets

i. Depreciation is provided considering the useful lives of respective fixed assets as provided and prescribed underSchedule II of the Companies Act, 2013.

ii. Assets costing Rupees five thousand or less are fully depreciated in the year of purchase.

iii. Pursuant to the enactment of the Companies Act, 2013, cost of leasehold improvements are depreciated over theremaining period of lease of the premises.

Intangible assets

i. Film telecast rights

Rights acquired for broadcast of feature films / program are stated at cost and are amortised over the period ofagreement or up to ten years, whichever is earlier. Intangibles which were acquired under a purchase agreement areamortised on a Straight Line Basis over a period of ten years from the date of the acquisition.

ii. Other intangibles

Other Intangibles which were acquired under an agreement are amortised on a straight line basis over a period of fiveyears from the date of the agreement.

e. Impairment of assets

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss ischarged to the Statement of Profit and Loss in the year in which an asset is identified as impaired. The impairment lossrecognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount

f. Leases

i. Where the Company is the lessee

Leases where the lesser effectively retains substantially all the risks and benefits of ownership of the leased item isclassified as operating leases. Operating lease payments are recognized as an expense in the Statement of Profit andLoss.

ii. Where the Company is the lessor

Lease income is recognised in the Statement of Profit and Loss on a straight-line basis over the lease term. Initialdirect costs such as legal costs, brokerage costs, etc. are recognised immediately in the Statement of Profit and Loss.

g. Inventories

Trading materials, stores and spares and consumables

Trading materials, stores and spares and consumables are stated at the lower of cost and net realizable value. Cost isdetermined on first in first out (FIFO) basis.

Serial and program costs

i. Serials and program purchased or produced in-house which are yet to telecast are carried at cost. Cost includesamount paid to the producers for serials and program purchased. Cost of programs produced in-house includesremuneration to artists, directors and technicians, location expenses and other production costs. Provision forimpairment is made for episodes of serials and programs not telecast for more than a year.

ii. Serials and programs purchased and the costs of serials and programs produced in- house is expensed off based onnumber of episodes telecast during the period. Cost of news/current affairs/ one- time events are fully expensed offon first telecast.

h. Foreign currency transactions

i. Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on the date of thetransaction or that approximates the actual rate at the date of the transaction.

ii. Monetary items denominated in foreign currencies at the year-end are restated at year end rates. In case of itemswhich are covered by forward exchange contracts, the difference between the year-end rate and rate on the date ofthe contract is recognised as exchange difference and the premium paid on forward contracts is recognised over thelife of the contract.

iii. Non-monetary foreign currency items are carried at cost.



iv. Any income or expense on account of exchange difference either on settlement or on translation is

Recognised in the Statement of Profit and Loss.

i. Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and therevenue can be reliably measured. Specifically, the following basis is adopted:

i. Advertising income

Advertising income is recognized when the related commercial or program is telecast on the channels.

ii. Subscription income

Subscription income from pay channels represents subscription fees billed to cable operators and aggregators, directto home (DTH) service providers towards pay -channels operated by the Company and are recognized in the periodduring which the service is provided. Subscription fee is determined based on management’s best estimates of thenumber of subscribers to which the service is provided, at contractually agreed rates. Subscription Income fromDTH customers is recognized in accordance with terms of agreements entered into with the service providers.

iii. Interest income

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the interestrate applicable.

j. Retirement and other Employee benefits

i. Regular monthly contribution to Employees’s Provident Fund Scheme which is in the nature of defined contributionplan is charged against revenue when the contributions to the respective funds are due. There are no other obligationsother than the contribution payable to the fund.

ii. The Company provides for gratuity, a defined benefit retirement plan (‘’the Gratuity Plan’’) covering eligibleemployees. In accordance with the Payment of Gratuity Act,1972, the Gratuity Plan provides a lump sum payment tovested employees at retirement, death, incapacitation or termination of employment, of an amount based on therespective employee’s salary and tenure of employment.

The Company also makes contributions to funds administered and managed by the insurance companies for theamount notified by the said insurance companies.

The present value of the obligation under such defined benefit plan is determined based on actuarial valuation usingthe projected unit credit method, which recognizes each year of services as giving rise to additional unit of employeebenefit entitlement and measures each unit separately to build up the final obligation. The obligation is measured atthe present value of the estimated future cash flows. The discount rate used for determining the present value of theobligation is based on the market yield on government securities as at the balance sheet date. Actuarial gains/lossesare recognized immediately in the statement of profit and loss.

The Liability with respect to the Gratuity Plan is determined based on actuarial valuation done by an independentactuary at the year end and any differential between the fund amount as per the insurer and actuarial valuation ischarged to the statement of profit and loss.

iii. Earned Leave encashment liability and sick Leave liability which are in the nature of defined benefit obligation areprovided for on actuarial basis, based on independent actuarial valuation on Projected Unit Credit Method on thedate of the financial statements as per the requirements of Accounting Standard-15 on “Employee Benefits”.

Actuarial gains/losses are recognised immediately in the Statement of Profit and Loss.

k. Taxes on income

Tax expense comprises current and deferred tax. Current income tax is measured at the amount expected to be paid to thetax authorities in accordance with the Income Tax Act, 1961. Deferred income taxes reflects the impact of current yeartiming differences between taxable income and accounting income for the year and reversal of timing differences ofearlier years.

Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date.Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable incomewill be available against which such deferred tax assets can be realised. In situations where the company has unabsorbed



depreciation or carry forward tax losses, all deferred tax assets are recognised only if there is virtual certainty supportedby convincing evidence that they can be realised against future taxable profits.

At each balance sheet date the Company re-assesses the unrecognized deferred tax assets. It recognizes the unrecognizeddeferred tax assets to the extent that it is reasonably certain that sufficient future taxable income will be available againstwhich such deferred tax assets can be realized.

l. Provisions

A provision is recognised when the Company has a present obligation as a result of past event, and it is probable that anoutflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisionsare not discounted to its present value and are determined based on best estimate required to settle the obligation at thebalance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

m. Service tax input credit

Service tax input credit is accounted for in the books in the period in which the underlying service received isaccounted and when there is reasonable certainty in availing / utilising the credits.

n. Earnings per share

‘Basic’ earnings per share is calculated by dividing the net profit or loss for the period attributable to the shareholders bythe weighted average number of the equity shares outstanding at the year end.

‘Diluted’ earnings per share using the weighted average numbers of equity shares and dilutive potential equity sharesoutstanding at the year end, except when the result would be anti-dilutive.

o. Cash and cash equivalents (for purposes of Cash flow Statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an originalmaturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible intoknown amounts of cash and which are subject to insignificant risk of changes in value.

p. Cash flow statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjustedfor the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts orpayments. The cash flows from operating, investing and financing activities of the Company are segregated based onthe available information.

q. Barter transactions:

Barter transactions are recognised at the fair value of consideration receivable or payable. When the fair value of thetransactions cannot be measured reliably, the revenue/expense is measured at the fair value of the goods/services provided/received adjusted by the amount of cash or cash equivalent transferred.

3. ADDITIONAL NOTES TO THE FINANCIAL STATEMENTS

a. Accounting policy change:

i. Depreciation on Fixed Tangible Assets

The Company has changed the method of providing depreciation from Written Down Value method to the StraightLine Method, as a result of which of Rs.5,75,89,239 has been written back to the statement of Profit and Loss andadjusted against the depreciation of the year. Had this change not been made, the loss of the year would have beenhigher by Rs.10,15,592 on account of current depreciation and the value of net fixed assets would have been lowerby Rs.10,15,592.

ii. Amortisation on Computer software under Fixed Intangible Assets

The Company has changed amortization on Computer software under Fixed intangible assets in accountingamortization from a period of 3 years to a period of 5 years, as a result of which Rs.15,31,262 has been written backto the Statement of Profit and Loss and adjusted against the depreciation of the year. Had this change not been made,the loss of the year would have been higher by Rs.31,95,890 on account of current amortization and the value of thenet Fixed Intangible Assets would have been lower by Rs.31,95,890.

b. Depreciation:

Depreciation for the year is provided as per Schedule II of the Companies Act, 2013 (the Act). Accordingly Rs.3,89,80,568being the remaining Carrying amount of the assets whose remaining life in NIL are recognized in the opening balance of



retained earnings and Rs. 5,68,61,538 is charged to revenue as depreciation for the year. Hence, depreciation for the yearis not directly comparable with previous year.

c. Intangible Assets:

Film and programme content purchased by Ushodaya Enterprises Private Limited (UEPL) were transferred to the companyas a part of ‘the scheme of arrangement’ in the year 2010-11. The Company recorded these assets in its books as intangibleassets and continued to amortise the same over the period of 10 years on its useful life.

During the year under review, considering end of commercial value of these program content, the carrying value of Rs.29,66,849 has been fully impaired.

d. Obligations on long term, non-cancellable operating leases:

The Company has taken various residential / commercial premises under cancellable / non-cancellable operating leases.The cancellable lease agreements are normally renewed on expiry. Operating lease charges amounting to Rs. 57,795,648(Previous year Rs. 26,836,116) has been debited to the Statement of Profit and Loss during the year.

The details of future minimum lease payments under non-cancellable leases are as under:

Amount in Rs.

Particulars As at 31.03.2015 As at 31.03.2014

Not later than one year 6,47,96,463 18,26,566

Later than one year but not more than 5 years 1,49,799,305 8,29,54,504

More than 5 years 5,08,76,007 10,89,53,887

e. Capital commitment and contingent liabilities

Contingent liabilities

(i) Claims against the Company not acknowledged as debts of Rs. 56,77,000 (Previous year Rs.56,77,000). No provisionhas been made in the accounts for these demands as the Company expects a favorable decision in appeal

(ii) Claims against the Company not acknowledged as debts include demands raised by Income Tax authorities aggregatingto Rs.6,19,39,810 (Previous year Rs.1,32,39,040). No provision has been made in the accounts for these demands asthe Company expects a favorable decision in appeal.

(iii) Claims against the Company not acknowledged as debts include demands raised by Service Tax authorities aggregatingto Rs. 7,78,68,465 (Previous year Rs.12,49,08,277). No provision has been made in the accounts for these demandsas the Company expects a favorable decision in appeal.

(iv) Commitments

Estimated amount of contracts remaining to be executed on capital accounts and not provided for Rs.16,02,37,089(previous year Rs.63,54,000).

(v) Tax deducted at source not admitted by Income Tax Authorities Rs.1,21,38,927 for the Assessment Year 2011-12 andRs.71,40,517 for the Assessment Year 2012-13. No provision has been made in the accounts for this demand has theCompany has made representation for admission of the same.

f. Micro, Small and Medium enterprises

The identification of Micro, Small and Medium Enterprises suppliers as defined under the provisions of “The Micro,Small and Medium Enterprises Development Act, 2006” is based on Management’s knowledge of their status.

The Company has not received any memorandum ( as required to be filed by the suppliers with the notified authorityunder the Micro, Small and Medium Enterprises Development Act, 2006) claiming their status as Micro, Small or MediumEnterprises. Consequently the amount paid / payable to these parties during the year and the previous year is Nil.

g. Exceptional Items:

During the year, based on review of current and non- current assets, the company has accounted for a) impairment in thevalue of certain tangible and intangible assets and b) write off / provision of certain non recoverable receivables. Theamount has been charged to the Statement of Profit & Loss as detailed under note 21 as Exceptional Item.

However, the above adjustments will have no impact on the future operating profits and cash flows of the businesses of theCompany.


f. Employee benefits:On 1st April 2014, 346 No. of employees, on 1st December 2014, 188 No. of employees and on January 1, 2015 10No. ofemployees were transferred from Prism TV Private Limited ( Related Party) and Prism TV Private Limited also transferredthe liabilities amounting to Rs. 431.62 lacs with respect to gratuity, leave encashment and other employees benefits up toDecember 31, 2014 for such transferred employees on the basis of actuarial valuation.During the year, the company has taken over 544 employees on its rolls who were transferred to it, on continuing employmentbasis, from Prism TV Private Limited, a related party. Prism TV Private Limited has taken over the gratuity and compensatedabsence benefits liability of Rs. 341.62 lacs, in respect to these employees accrued up to 31st December 2014, on the basisof actuarial valuation.Defined Contribution planThe Company makes Provident Fund and Employee State Insurance contributions which are defined contribution plansfor qualifying employees. The Company has recognised Rs.3,25,25,630 (Previous year Rs.1,72,91,719 for ProvidentFund contributions and Rs.66,31,420 (Previous year Rs.48,25,924) for Employee State Insurance in the Statement ofProfit and Loss.Defined benefit planThe employees’ gratuity fund scheme managed by a Trust (PNB Metlife India Insurance Company Limited) is a definedbenefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit CreditMethod, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement andmeasures each unit separately to build up the final obligation. The obligation for Compensated Absences is recognized inthe same manner as gratuity.For funded plan, the Company makes contributions to the trust from time to time which in turn makes contributions to theEmployee’s Group Gratuity scheme of PNB MetLife India Insurance Company Limited.The following table set out the funded / unfunded status of the retirement benefits plans and the amount recognised in thefinancial statements:

Particulars 31.03.2015 31.03.2014 (Rupees) (Rupees)

a. Change in defined benefit obligation

1. Present value of obligation at the beginning of the year 42,765,616 41,530,221

2. Current service cost 9,960,211 5,458,765

3. Interest expense 3,421,249 3,322,418

4. Past service cost - -

5. Acturial (gain) / loss 28,329,629 (3,784,003)

6. Benefits paid (3,787,881) (3,761,785)

7. Present value of obligation at the end of the year 80,688,824 42,765,616

b. Fair value of plan assets

1. Fair value of plan assets at the beginning of the year 41,910,144 16,911,256

2. Expected return on scheme assets 3,352,812 1,352,900

3. Employer’s contribution 4,021,477 28,500,000

4. Benefits paid (3,787,881) (3,761,785)

5. Acturial (gain) / loss (2,725,186) (1,092,227)

6. Fair value of plan assets at the end of the year 42,771,366 41,910,144

c. Return on plan assets

1. Expected return on plan assets 3,352,812 1,352,900

2. Acturial (gain) / loss (2,725,186) (1,092,227)

3. Actual return on plan assets 627,626 260,673



d. Amount recognised with Balance Sheet

1. Present value of defined benefit obligations 80,688,824 42,765,616

2. Fair value of plan assets 42,771,366 41,910,144

3. Net liability/(asset) recognised in the balance sheet (37,917,458) (855,472)

Non current liability 20,546,573

Current liability 17,370,885 855,472

e. Expenses recognised in the Statement of Profit and Loss

1. Current service costs 9,960,211 5,458,765

2. Interest expense 3,421,249 3,322,418

3. Expected return on investment (3,352,812) (1,352,900)

4. Net actuarial (gain)/loss recognised during the year 31,054,815 (2,691,776)

5. Expenditure recognised in the Statement of Profit and Loss 41,083,463 4,736,507

Particulars 31.03.2015 31.03.2014

Principal Actuarial assumptions for gratuity and compensated absences

i. Rate for discounting liabilities 8.00 % p.a. 8.00 % p.a.

ii. Expected salary increase rate 8.00 % p.a. 8.00 % p.a.

iii. Expected rate of return 8.00 % p.a. 8.00 % p.a.

iv. Mortality table used IALM (2006 - 08) IALM (2006 - 08)

v. Retirement age 58 58

vi. Withdrawal rates

- Upto 30 years 20% 20%

- Upto 44 years 20% 20%

- Above 44 years 20% 20%

Notes:

1. The discount rate is based on the prevailing market yield of Indian Government Securities as at the balance sheet date for theestimated term of obligations.

2. The expected return is based on the expectation of the average long term rate of return on investments of the fund during theestimated term of the obligations.

3. The estimates of future salary increases considered takes into account the inflation, seniority, promotion and other relevantfactors.

4. The planned assets of the Company are managed by the PNB MetLife India Insurance Company Limited in terms of an insurancepolicy taken to fund obligations of the Company with respect to its gratuity plan.

i. Derivative instruments and unhedged Foreign currency exposure:

The Company does not use foreign currency forward contracts to hedge its risks associated with foreign currencyfluctuations related to certain firm commitments and forecasted transactions.

The Company’s foreign currency exposure not hedged by a derivative instrument or otherwise as at the year end is as follows:


Particulars 31.03.2015 31.03.2014 (Rupees) (Rupees)



Foreign Currency

Particulars Currency Value Rupees

Trade Payables USD 2,78,935.6 1,74,58,579.2

GBP

Trade Receivables USD 1,31,079.00 82,04,234.61

GBP 8,006.00 7,40,234.76

(36,080) (36,02,549)

j. Related party Disclosures

a. Related parties and their relationships

Sr. No. Name of the entity Relationship

1 Equator Trading Enterprises Pvt. Ltd Enterprises exercising control

2 Independent Media Trust (w.e.f. 07.07.2014) Enterprises exercising control

3 Adventure Marketing Private Limited (w.e.f. 07.07.2014)# Enterprises exercising control

4 Watermark Infratech Private Limited (w.e.f. 07.07.2014)# Enterprises exercising control

5 Colorful Media Private Limited (w.e.f. 07.07.2014)# Enterprises exercising control

6 RB Media Holdings Private Limited (w.e.f. 07.07.2014)# Enterprises exercising control

7 RB Mediasoft Pvt Limited (w.e.f. 07.07.2014)# Enterprises exercising control

8 RRB Mediasoft Pvt Limited (w.e.f. 07.07.2014)# Enterprises exercising control

9 Network18 Media & Investments Ltd Enterprises exercising control

10 TV18 Broadcast Limited Enterprises exercising control

11 Reliance Industries Limited (RIL) (w.e.f. 07.07.2014) Beneficiary/Protector of IndependentMedia Trust

12 Reliance Industrial Investments and Holdings Limited Beneficiary/Protector of Independent(w.e.f. 07.07.2014) Media Trust

13 Prism TV Private Limited Fellow Subsidiary

14 Television Eighteen Mauritius Limited Fellow Subsidiary

15 Capital18 Fincap Private Limited Fellow Subsidiary

16 Television Eighteen Media and Investments Limited Fellow Subsidiary

17 Network18 Holdings Limited Fellow Subsidiary

18 Digital 18 Media Limited Fellow Subsidiary

19 RRB Investments Private Limited Fellow Subsidiary

20 Setpro18 Distribution Limited Fellow Subsidiary

21 Infomedia Press Limited Fellow Subsidiary

22 NW 18 HSN Holdings Plc ( formerly TV18 HSNHoldings Limited) Cyprus Fellow Subsidiary

23 BK Holdings Limited (Amalgamated with Network18Holdings Ltd w.e.f. 03.06. 2014) Fellow Subsidiary

24 Capital18 Limited, Mauritius(Amalgamated with Network18Holdings Ltd w.e.f. 03.06. 2014) Fellow Subsidiary

25 RRK Finhold Private Limited Fellow Subsidiary

26 RVT Finhold Private Limited Fellow Subsidiary

27 Greycells 18 Media Limited Fellow Subsidiary

28 Colosceum Media Private Limited Fellow Subsidiary



j. Related party Disclosures (Contd...)


29 Stargaze Entertainment Private Limited Fellow Subsidiary

30 Web 18 Holdings Limited, Cyprus Fellow Subsidiary

31 E-18 Limited, Cyprus Fellow Subsidiary

32 Web 18 Software Services Limited Fellow Subsidiary

33 e - Eighteen.com Limited Fellow Subsidiary

34 Moneycontrol Dot Com India Limited Fellow Subsidiary

35 ibn18 (Mauritius) Limited Fellow Subsidiary

36 AETN18 Media Private Limited Fellow Subsidiary

37 RVT Media Private Limited Fellow Subsidiary

38 TV18 Home Shopping Network Limited Fellow Subsidiary

39 Big Tree Entertainment Private Limited Fellow Subsidiary

40 Reed Infomedia India Private Limited Fellow Subsidiary

41 Viacom18 Media Private Limited Joint ventures of enterprise exercisingcontrol

42 IBN Lokmat News Private Limited Joint ventures of enterprise exercisingcontrol

43 Indiacast UTV Media Distribution Private Limited Joint ventures of enterprise exercisingcontrol

44 Indiacast UK Limited Joint ventures of enterprise exercisingcontrol

45 Indiacast Media Distribution Pvt. Limited Joint ventures of enterprise exercisingcontrol

46 Eenadu Television Private Limited Associates of enterprise exercisingcontrol

47 Ramoji Rao Key Management Personnel

48 Ch.Kiron Key Management Personnel

49 Dolphin Hotels Limited Entities under significant influence ofKMP’s

50 Margadarsi Enterprises Entities under significant influence ofKMP’s

51 Margadarsi Computers Entities under significant influence ofKMP’s

52 Mayuri Film Distributors Entities under significant influence ofKMP’s

53 Ushakiron Properties Entities under significant influence ofKMP’s

54 Margadarsi Financiers Entities under significant influence ofKMP’s

55 Ushodaya News Agency Entities under significant influence ofKMP’s

56 Ramoji Universal Travels Entities under significant influence ofKMP’s



j. Related party Disclosures (Contd...)


57 Ushakiron Enterprises Entities under significant influence ofKMP’s

58 Vasundhara Publications Entities under significant influence ofKMP’s

59 Ushakiron Movies International Entities under significant influence ofKMP’s

60 Ramoji Knowledge Centre Entities under significant influence ofKMP’s

61 Colorama Printers Private Limited Entities under significant influence ofKMP’s

62 Margadarsi Marketing Private Limited Entities under significant influence ofKMP’s

63 Manpower Selection and Management Services Private Limited Entities under significant influence ofKMP’s

64 Usha Kiron Movies Limited Entities under significant influence ofKMP’s

65 Priya Foods Private Limited Entities under significant influence ofKMP’s

66 Margadarsi Investment and Leasing Company Private Limited Entities under significant influence ofKMP’s

67 Ushodaya Shipping Private Limited Entities under significant influence ofKMP’s

68 Suman Advertising Private Limited Entities under significant influence ofKMP’s

69 Images Hoardings Private Limited Entities under significant influence ofKMP’s

70 Margadarsi Financial Services Private Limited Entities under significant influence ofKMP’s

71 Margadarsi Chit Fund Private Limited Entities under significant influence ofKMP’s

72 Margadarsi Housing Private Limited Entities under significant influence ofKMP’s

73 Margadarsi Chits (Karnataka) Private Limited Entities under significant influence ofKMP’s

74 Ushodaya Enterprises Private Limited Entities under significant influence ofKMP’s

75 Reliance Retail Limited Fellow Subsidiary (Subsidiary ofReliance Industries Limited, The Solebeneficiary of Independent Media Trust)

Note: Related parties have been identified by the management of the Company.



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ii) Transaction with Related Parties

Transactions Enterprises Associate of Fellow JV of Entity Underexcercising enterprise Subsidiary enterprise Significant

control exercising exercising Influencecontrol control

(i) Transaction during the period ended31st March, 2015Revenue from operationsTV18 Broadcast Limited 178,917,562 - - - -

(1,379,500) - - - -IndiaCast Media Distribution Pvt Ltd - - - 3,621,118 -

- - - (410,871) -IndiaCast UTV Media Distribution Pvt Ltd - - - 2,778,913 -

- - - (34,526,307) -IndiaCast UK Limited - - - 3,352,420 -

- - - (3,602,549) -Viacom18 Media Limited - - - 448,800 -

- - - - -Prism TV Private Limited - - 535,000 - -

- - - - -Kalanjali Arts & Crafts - - - - -

- - - - (49,133)Other IncomeEenadu Television Private Limited - 848,125 - - -(News Subscription Charges-PTI) - - - - -Prism TV Private Limited - - - - -

- - (1,149,996) - -Interest ExpensesTV18 Broadcast Limited 15,287,672 - - - -

- - - - -Expenditure for Services ReceivedTV18 Broadcast Limited 25,261,160 - - - -

(49,786,250) - - - -IndiaCast UTV Media Distribution Pvt Ltd - - - 410,913,822 -

- - - - -IBN Lokmat News Private Limited - - - 52,800 -Eenadu Television Private Limited - - - - -

- (55,334,516) - - -Prism TV Private Limited - - 5,714,144 - -

- - - - -Dolphine Hotels Limited - - - - 3,997,918

- - - - (1,943,071)Margradasi Computers - - - - 900,000

- - - - (820,416)Margradasi Financiers - - - - 2,732,175

- - - - -Ushakiron Properties - - - - 7,136,818

- - - - (9,666,033)Manpower Selection & Management Services - - - - 50,000

- - - - (120,000)Ushakiron Movies Limited - - - - 9,743,983

- - - - (35,076,575)Reimbursement of Expenses (Paid)TV18 Broadcast Limited 5,303,158 - - - -

(1,902,502) - - - -



Prism TV Private Limited - - 1,283,788 - -- - (82,394,689) - -

Margradasi Computers - - - - - - - - - -

Ushakiron Properties - - - - 146,289 - - - - -

Ushakiron Movies Limited - - - - 27,131,416 - - - - -

Ushodaya Enterprises Private Limited - - - - - - - - - (17,200)

Eenadu Television Private Limited - 48,848,950 - - - - - - - -

Network18 Media & Investment Limited 709,609 - - - - (421,350) - - - -

Reimbursement of Expenses (Received)Prism TV Private Limited - - 16,350 - -

- - (87,435) - -Eenadu Television Private Limited - 4,674 - - -

- (469,360) - - -Consumable PurchasedColorama Printers Private Limited - - - - 184,310

- - - - (213,650)Amount Collected on Behalf ofEenadu Television Private Limited - - - - -

- (14,069,015) - - -Loan ReceivedTV18 Broadcast Limited 250,000,000 - - - -

- - - - -Loan givenEquator Trading Enterprises Private Limited - - - - -

(436,500,000) - - - -(ii) Balances for the period endedLoan and AdvanceEquator Trading Enterprises Private Limited 436,500,000 - - - -

(436,500,000) - - - -Trade payableNetwork18 Media & Investment Limited 291,324 - - - -

(463,960) - - - -TV18 Broadcast Limited 2,391,401 - - - -

(53,240,989) - - - -AETN Media Private Limited - - - - -

- - (89,192) - -IBN Lokmat News Pvt Ltd - - - 58,270 -Eenadu Television Private Limited - 16,670,063 - - -

- (5,470,717) - - -IndiaCast UTV Media Distribution Pvt Ltd - - - 390,859,098 -

- - - - -Prism TV Private Limited - - - - -

- - (1,805,044) - -Dolphine Hotels Limited - - - - 1,861,632

- - - - (663,519)

ii) Transaction with Related Parties (Continued)





Margradasi Computers - - - - -- - - - (69,136)

Margradasi Financiers - - - - 932,217 - - - - -

Ushakiron Properties - - - - 1,826,310 - - - - -

Colorama Printers Private Limited - - - - - - - - - (32,001)

Manpower Selection & Management Services - - - - -- - - - -

Ushakiron Movies Limited - - - - 8,866,030 - - - - (4,334,891)

Kalanjali Arts & Crafts (A Div of MMPL) - - - - - - - - - (17,684)

Trade ReceivablesTV18 Broadcast Limited 141,472,312 - - - -

(949,519) - - - -IndiaCast Media Distribution Pvt Ltd - - - 2,769,292 -

- - - (12,087,958) -IndiaCast UTV Media Distribution Pvt Ltd - - - - -

- - - (27,462,601) -IndiaCast UK Limited - - - 735,586 -

- - - (3,602,549) -Viacom18 Media Limited - - - - -

- - - (615,958) -Kalanjali Arts & Crafts (A Div of MMPL) - - - - - -Debtors - - - - (49,133)Kalanjali Arts & Crafts (A Div of MMPL) - - - - 31,449

- - - - (17,684)Short-Term BorrowingTV18 Broadcast Limited 250,000,000 - - - -

- - - - -Other Current LiabilitiesTV18 Broadcast Limited 15,287,672 - - - -(Accrued interest on ICD) - - - - -Short-Term Loans & AdvancesPrism TV Private Limited - - 29,737,356 - -

- - - - -Provision for ExpensesPrism TV Private Limited - - - - -

- - - - -TV18 Broadcast Limited 2,015,291 - - - -

- - - - -

Figures in brackets represent previous years figures

ii) Transaction with Related Parties (Continued)





k. Value of imports calculated on C.I.F basis (Amount in Rupees)For the year For the year

ended 31.03.2015 ended 31.03.2014

Fixed Assets 16,21,49,221 5,16,15,703

Total 16,21,49,221 5,16,15,703

l. Earnings in Foreign Currency (Amount in Rupees)For the year For the year

ended 31.03.2015 ended 31.03.2014

Subscription Income 33,52,422 36,02,549

Total 33,52,422 36,02,549

m. Expenditure in foreign currency (Amount in Rupees)For the year For the year

ended 31.03.2015 ended 31.03.2014

News service charges - 6,50,001

Travelling and conveyance 13,71,235 5,70,768

Total 13,71,235 12,20,769

n. Earnings Per Share (EPS)For the year For the year

ended ended31-03-2015 (Rs.) 31-03-2014 (Rs)

Profit/(Loss) after Tax (in Rupees) (1,07,20,434) 40,84,61,705

No. of shares 2,49,59,608 2,49,59,608

Weighted Average Number of Shares considered for EPS calculation. 2,49,59,608 2,49,59,608

Basic EPS -Face Value Rs.10 per Share (Rs.) (0.43) 16.36

No. of shares on potential conversion of Debentures - -

Total No. of shares ( Dilutive ) - -

Diluted EPS Face Value Rs.10 per Share (Rs.) (0.43) 16.36

o. Auditor’s remuneration:For the year For the year

ended ended31-03-2015 (Rs.) 31-03-2014 (Rs)

Statutory Audit Fee 7,00,000 7,00,000

Tax Audit Fee 2,00,000 2,00,000

Fees for other services-Limited Review Fee etc 8,00,000 3,00,000

Total 17,00,000 12,00,000







p. Segment reporting

The Company’s operations fall within a single business segment “Production of program and broadcasting satellite television”and single geographical segment and therefore segment information as required under AS – 17 is not applicable

q. Previous year comparatives

Previous year’s figures have been re-grouped/re-classified wherever necessary to correspond with the current year’s classification/disclosure.

Documents

41 - Panorama Television Private Limited - Reliance · PDF filePANORAMA TELEVISION PRIVATE LIMITED 679 Balance Sheet as at 31st March, 2015 ... D.Vijaya Kumar Ramoji Rao Ch.Kiron Partner