FINANCIAL STATEMENTS OF SUBSIDIARIES OF CYBER MEDIA … · 2019-10-28 · INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CYBER MEDIA RESEARCH & SERVICES LIMITED Report on the Standalone

FINANCIAL STATEMENTS OF SUBSIDIARIES OF CYBER MEDIA (INDIA)

LIMITED FOR THE FINANCIAL YEAR ENDED 31.03.2016

1. Cyber Media Research & Services Limited;

2. Cyber Astro Limited;

3. Cyber Media India LLC; and

4. Kurrent Media LLC

Financial Statements of Cyber Media Research & Services

Limited for the Financial Year ended 31.03.2016

INDEPENDENT AUDITOR’S REPORT

TO THE M EM BERS OF CYBER M EDIA RESEARCH & SERVICES LIM ITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Cyber M edia

Research & Services Limited (“ the Company” ), which comprise the Balance Sheet as at 31st

M arch, 2016, the Statement of Profit and Loss, the Cash Flow Statement for the year then

ended, and a summary of the significant account ing policies and other explanatory

informat ion.

M anagement’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the mat ters stated in Sect ion 134(5) of

the Companies Act , 2013 (“ the Act” ) with respect to the preparat ion of these standalone

financial statements that give a t rue and fair view of the financial posit ion, financial

performance and cash flows of the Company in accordance with the account ing principles

generally accepted in India, including the Account ing Standards specified under Sect ion 133 of

the Act , read with Rule 7 of the Companies (Accounts) Rules, 2014.

This responsibility also includes maintenance of adequate account ing records in accordance

with the provisions of the Act for safeguarding of the assets of the Company and for

prevent ing and detect ing frauds and other irregularit ies; select ion and applicat ion of

appropriate account ing policies; making judgments and est imates that are reasonable and

prudent ; and design, implementat ion and maintenance of adequate internal financial

controls, that were operat ing effect ively for ensuring the accuracy and completeness of the

account ing records, relevant to the preparat ion and presentat ion of the financial statements

that give a t rue and fair view and are free from material misstatement , whether due to fraud

or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these standalone financial statements based on

our audit .

We have taken into account the provisions of the Act , the account ing and audit ing standards

and mat ters which are required to be included in the audit report under the provisions of the

Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Audit ing specified under Sect ion

143(10) of the Act . Those Standards require that we comply with ethical requirements and

plan and perform the audit to obtain reasonable assurance about whether the financial

statements are free from material misstatement . An audit involves performing procedures to

obtain audit evidence about the amounts and the disclosures in the financial statements. The

procedures selected depend on the auditor’s judgment , including the assessment of the risks

of material misstatement of the financial statements, whether due to fraud or error. In

making those r isk assessments, t he auditor considers internal financial control relevant to the

Company’s preparat ion of the financial statements that give a t rue and fair view in order to

design audit procedures that are appropriate in the circumstances. An audit also includes

evaluat ing t he appropriateness of the account ing policies used and the reasonableness of the

account ing est imates made by the Company’s Directors, as well as evaluat ing the overall

presentat ion of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide

a basis for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our informat ion and according to the explanat ions given to

us, the aforesaid standalone financial statements give the informat ion required by the Act in

the manner so required and give a t rue and fair view in conformity with the account ing

principles generally accepted in India, of the state of affairs of the Company as at 31st M arch,

2016, and its Loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report ) Order, 2016 (“ the Order” ) issued by the

Central Government of India in terms of Sect ion 143(11) of the Act , we give in the

“ Annexure A” a statement on the mat ters specified in paragraphs 3 and 4 of the Order.

2. As required by Sect ion 143 (3) of the Act , we report that :

a) We have sought and obtained all the informat ion and explanat ions which to the best

of our knowledge and belief were necessary for the purposes of our audit ;

b) In our opinion, proper books of account as required by law have been kept by the

Company so far as it appears from our examinat ion of those books;

c) The Balance Sheet , the Statement of Profit and Loss, and the Cash Flow Statement

dealt with by this Report are in agreement with the books of account ;

d) In our opinion, the aforesaid standalone financial statements comply with the

Account ing Standards specified under Sect ion 133 of the Act , read with Rule 7 of the

Companies (Accounts) Rules, 2014;

e) On the basis of the writ ten representat ions received from the directors as on 31st

M arch, 2016 taken on record by the Board of Directors, none of the directors is

disqualified as on 31st M arch, 2016 from being appointed as a director in terms of

Sect ion 164 (2) of the Act ;

f) With respect to t he adequacy of the internal financial controls over financial report ing

of the Company and the operat ing effect iveness of such controls, refer to our separate

Report in “ Annexure B” .

g) With respect to the other mat ters to be included in the Auditor’s Report in accordance

with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to

the best of our informat ion and according to the explanat ions given to us:

i. The Company has no lit igat ions and hence no impact on its f inancial posit ion in

its financial statements.

ii. The Company has made provision, as required under the applicable law or

account ing standards, for material foreseeable losses, if any, on long-term

contracts (refer note 47 on ‘Provision on warranty’ to the financial statements).

The Company does not have any derivat ive contracts;

iii. There has been no delay in t ransferring amounts, required to be t ransferred, to

the Investor Educat ion and Protect ion Fund by the Company.

For N K Goel & Co.

Chartered Accountants,

Firm’s Regist rat ion No. 001942N

Neeraj Kumar Goel

Proprietor

M embership No. 500-16570

Place of Signature: New Delhi

Dated: M ay 25, 2016

Annexure A to the Independent Auditor’s Report to the members of Cyber M edia Research

& Services Limited dated 25/ 05/ 2016

Report on the matters specified in paragraph 3 of the Companies (Auditor’s Report) Order,

2016 (“the Order’) issued by the Central Government of India in terms of section 143(11) of

the Companies Act, 2013 (“the Act”) as referred to in paragraph 1 of ‘Report on Other Legal

and Regulatory Requirements’ section

(i) (a) The Company is maintaining proper records showing full part iculars, including

quant it at ive details and sit uat ion of f ixed assets;

(b) These fixed assets have been physically ver if ied by the management at

reasonable intervals; no mater ial discrepancies were not iced on such verificat ion.

(c) The t it le deeds of immovable propert ies are held in the name of the Company.

(ii) The physical verificat ion of inventory has been conducted at reasonable intervals by

the management and no any material discrepancies were not iced;

(iii) The Company has not granted any loans, secured or unsecured to companies, firms,

Limited Liability Partnerships or other part ies covered in the register maintained under

sect ion 186 of the Companies Act , 2013.

(iv) The Company has not made any loans, investments, guarantees and security to which

sect ion 185 & 186 of the Companies Act , 2013 are applicable, hence clause (iv) of

paragraph 3 of the Order is not applicable to the Company;

(v) The Company has not accepted any deposits to which chapter V of the Companies Act ,

2013 is applicable, hence clause (v) of paragraph 3 of the Order is not applicable to the

Company;

(vi) The Central Government has not prescribed the maintenance of cost records for the

act ivit ies carried on by the Company during the year ended 31st

M arch 2016 under

sub-sect ion (1) of sect ion 148 of the Companies Act , 2013, hence clause (vi) of


(vii) (a) The Company is generally regular in deposit ing undisputed statutory dues of

provident fund, employees' state insurance, income-tax, sales-tax, service tax, duty of

customs, duty of excise, value added tax, cess and other statutory dues required to be

deposited with the appropriate authorit ies, except PF dues for Jan to M arch 2016,

amount ing to Rs. 4,42,330/ -. The extent of the arrears of outstanding statutory dues

as on the last day of the financial year concerned for a period of more than six months

from the date they became payable are as under:-

S No. Nature of Dues Amount (Rs.)

1 Service Tax 68,64,736

(b) There are no dues of income tax or sales tax or service tax or duty of customs or

duty of excise or value added tax that have not been deposited on account of any

dispute.

(viii) The Company has not defaulted in repayment of loans or borrowings to a financial

inst itut ion, bank, Government or dues to debenture holders, hence clause (viii) of


(ix) The Company has not raised any money by way of init ial public offer or further public

offer (including debt inst ruments). The Company has not term loan, neither the

Company has applied the term loan during the financial year.

(x) No fraud by the Company or fraud on the Company by its officers or employees has

been not iced or reported during the year;

(xi) M anagerial remunerat ion has been paid or provided in accordance with the requisite

approvals mandated by the provisions of sect ion 197 read with Schedule V to the

Companies Act , 2013.

(xii) The Company is not a Nidhi Company, hence clause (xii) of paragraph 3 the Order is

not applicable to the Company;

(xiii) All the t ransact ions with the related part ies are in accordance with sect ion 188 of the

Companies Act , 2013. Adequate disclosures as required by the applicable account ing

standards have been made in these financial statements;

(xiv) The Company has neither made preferent ial allotment nor private placement of shares

or fully & part ly convert ible debentures during the year under audit , hence clause (xiv)

of paragraph 3 the Order is not applicable to the Company;

(xv) The Company has not entered into with non-cash t ransact ions with directors and

persons connected with him, hence clause (xv) of paragraph 3 the Order is not

applicable to the Company;

(xvi) The Company is not required to be registered under sect ion 45-IA of the Reserve Bank

of India Act , 1934;

For N K Goel & Co.



Neeraj Kumar Goel

Proprietor




Annexure B to the Independent Auditor’s Report to the members of Cyber M edia Research

& Services Limited dated 25/ 05/ 2016

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of

the Companies Act, 2013 (“the Act”) as referred to in paragraph 2(f) of ‘Report on Other

Legal and Regulatory Requirements’ section

We have audited the internal financial controls over financial report ing of Cyber M edia

Research & Services Limited (“ the Company” ) as of M arch 31, 2016 in conjunct ion with our

audit of the standalone financial statements of the Company for the year ended on that date.

M anagement’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial

controls based on “ the internal control over financial report ing criteria established by the

Company considering the essent ial components of internal control stated in the Guidance

Note on Audit of Internal Financial Controls over Financial Report ing issued by the Inst itute of

Chartered Accountants of India” . These responsibilit ies include the design, implementat ion

and maintenance of adequate internal financial controls that were operat ing effect ively for

ensuring the orderly and efficient conduct of its business, including adherence to Company’s

policies, the safeguarding of its assets, t he prevent ion and detect ion of frauds and errors, the

accuracy and completeness of the account ing records, and the t imely preparat ion of reliable

financial informat ion, as required under the Companies Act , 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over

financial report ing based on our audit .

We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial

Controls Over Financial Report ing (the “ Guidance Note” ) and the Standards on Audit ing,

issued by ICAI and deemed to be prescribed under sect ion 143(10) of the Companies Act ,

2013, to the extent applicable to an audit of internal financial controls, both applicable to an

audit of Internal Financial Controls and, both issued by the Inst itute of Chartered Accountants

of India. Those Standards and the Guidance Note require that we comply with ethical

requirements and plan and perform the audit to obtain reasonable assurance about whether

adequate internal financial controls over financial report ing was established and maintained

and if such controls operated effect ively in all material respects.

Our audit involves performing procedures to obtain audit evidence about t he adequacy of the

internal financial controls system over financial report ing and their operat ing effect iveness.

Our audit of internal financial controls over financial report ing included obtaining an

understanding of internal financial controls over financial report ing, assessing the risk that a

material weakness exists, and test ing and evaluat ing the design and operat ing effect iveness of

internal control based on the assessed risk. The procedures selected depend on the auditor’s

judgement , including the assessment of the risks of material misstatement of the financial

statements, whether due to fraud or error.


a basis for our audit opinion on the Company’s internal financial controls system over

financial report ing.

M eaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial report ing is a process designed to provide

reasonable assurance regarding the reliability of financial report ing and the preparat ion of

financial statements for external purposes in accordance with generally accepted account ing

principles. A company's internal financial control over financial report ing includes those

policies and procedures that :

a) pertain to the maintenance of records that , in reasonable detail, accurately and fairly

reflect the t ransact ions and disposit ions of the assets of the company;

b) provide reasonable assurance that t ransact ions are recorded as necessary to permit

preparat ion of financial statements in accordance with generally accepted account ing

principles, and that receipts and expenditures of the company are being made only in

accordance with authorisat ions of management and directors of the company; and

c) provide reasonable assurance regarding prevent ion or t imely detect ion of unauthorised

acquisit ion, use, or disposit ion of the company's assets that could have a material effect

on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitat ions of internal financial controls over financial report ing,

including the possibility of collusion or improper management override of controls, material

misstatements due to error or fraud may occur and not be detected. Also, project ions of any

evaluat ion of the internal financial controls over financial report ing to future periods are

subject to the risk that the internal financial control over financial report ing may become

inadequate because of changes in condit ions, or that the degree of compliance with the

policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial

controls system over financial report ing and such internal financial controls over financial

report ing were operat ing effect ively as at M arch 31, 2016, based on “ the internal control over

financial report ing criteria established by the Company considering the essent ial components

of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over

Financial Report ing issued by the Inst itute of Chartered Accountants of India” .

For N K Goel & Co.



Neeraj Kumar Goel

Proprietor




(all figures in INR)

Particulars Note

No.

As at

31st March, 2016

As at

31st March, 2015

EQUITY & LIABILITIES

Shareholders’ FundsShare Capital 2 1,500,000 1,500,000

Reserves & Surplus 3 10,538,599 21,400,824

12,038,599 22,900,824

Non-current Liabilities

Long-term provisions 4 1,294,044 1,329,983

1,294,044 1,329,983

Current Liabilities

Short-term borrowings 5 14,292,754 14,715,222

Trade payables 6

-Micro, Small and Medium Enterprises - -

-Others 19,603,628 11,549,203

19,603,628 11,549,203

Other current liabilities 7 9,704,529 7,409,561

Short-term provisions 8 - -

43,600,911 33,673,986

TOTAL 56,933,554 57,904,793

ASSETS

Non-Current Assets

Fixed Assets 9

(i) Tangible Assets 4,893,394 6,272,686

(ii) Intangible Assets 6,831,774 8,046,490

(iii)Capital Work-in Progress - -

(iv)Intangible Assets under development - -

11,725,168 14,319,176

Deferred tax assets (net) 10 21,795,400 16,964,000

Long-term loans and advances 11 11,544,169 11,221,771

45,064,737 42,504,948

Current Assets

Inventories 12 183,517 256,871

Trade Receivables 13 10,462,921 14,969,127

Cash and Bank Balances 14 1,195,392 132,668

Short-term loans and advances 15 26,987 41,180

11,868,817 15,399,845

TOTAL 56,933,554 57,904,793

Significant Accounting Policies

Notes on Financial Statements 1 to 31

As per our report attached For and on behalf of Board Of Directors

For N K Goel & Co

Chartered Accountants

(Firm Registration No. 001942N)

Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

Proprietor

Membership No. 500-16570 Krishan Kant Tulshan

Director

Place : New Delhi DIN 00009764

Dated : 25.05.2016

CYBER MEDIA RESEARCH & SERVICES LIMITED

BALANCE SHEET AS AT 31ST MARCH, 2016

CIN : U74130DL1996PLC081509


Particulars Note For the year For the year

No. 31.03.2016 31.03.2015

INCOME

Revenue from operations 16 80,793,001 56,087,279

Other income 17 269,190 197,972

Total Revenue 81,062,191 56,285,251

EXPENDITURE

Employee benefits expense 18 40,400,368 29,908,593

Finance costs 19 2,700,982 2,702,255

Depreciation and amortization expense 20 2,559,326 3,609,858

Other expenses 21 51,095,140 33,031,557

Total expense 96,755,816 69,252,263

Profit before tax (15,693,625) (12,967,012)

Tax expenses

(1) Current tax - -

(2) Deferred tax (4,831,400) (5,407,500)

Profit (Loss) for the period (10,862,225) (7,559,512)

Earnings per equity share of face value of Rs 10/- each 22

(1) Basic (72.41) (50.40)

(2) Diluted (72.41) (50.40)



As per our report attached

For N K Goel & Co For and on behalf of Board Of Directors



Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

Proprietor Krishan Kant Tulshan

Membership No. 500-16570 Director

DIN 00009764

Place : New Delhi

Dated : 25.05.2016

CYBER MEDIA RESEARCH &SERVICES LIMITED

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2016

CIN : U74130DL1996PLC081509


Year Ended

31st March,

2016

31st March,

2015

A CASH FLOW FROM OPERATING ACTIVITIES

Net Profit Before Tax (15,693,625) (12,967,012)

Adjustments for:

Depreciation 2,559,326 3,609,860

Interest received (178,550) (192,586)

Employee Benefits Expense (35,939) (47,330)

Adjustment on Fixed Assets (38,698)

Interest Paid 2,700,982 2,702,255

Difference in Exchange - 0

Profit on Sale of Vehicles -

5,045,819 6,033,501

Operating profit before working capital

changes(10,647,806) (6,933,511)

Adjustments for:

(Increase)/decrease in Trade Receivable 4,506,206 (4,236,026)

(Decrease)/Increase in Trade Payable - (16,454,871)

(Decrease)/Increase in Current Liabilities

2,294,968 -

(Increase)/Decrease in Inventory 73,354 (256,871)

(Increase)/Decrease in Loans & Advances

(18,098) 25,879,658

6,856,430 4,931,890

Cash Generated From Operations (3,791,376) (2,001,621)

Income tax paid (290,107) (1,202,401)

Net cash from Operating Activities (4,081,483) (3,204,022)

B CASH FLOW FROM INVESTING ACTIVITIES

Inflows:

Interest received 178,550 192,586

Assets sold 34,682 -

213,232 192,586

Outflows:

Acquisition of fixed assets - -

-

Net cash from Investing Activities 213,232 192,586

C CASH FLOW FROM FINANCING ACTIVITIES

Inflows:

Proceeds from Secured Loans - -

- -

Outflows:

Repayment of Secured Loans (Net) (422,468) 5,825,073

Interest Paid (2,700,982) (2,702,255)

(3,123,450) 3,122,818

Net cash from Financing activities (3,123,450) 3,122,818

D EXCHANGE DIFFERENCE IN FOREIGN

CURRENCY -

Net (Decrease)Increase in Cash & Cash

equivalents (A+B+C+D) (6,991,701) 111,382

Cash & Cash Equivalents (Opening) 132,668 21,285

Cash & Cash Equivalents (Closing) (6,859,033) 132,667


CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2016

Year Ended

CIN : U74130DL1996PLC081509

Notes to Cash Flow Statement

This is the Cash Flow Statement referred to in our report of even date


For N K Goel & Co. For and on behalf of Board Of Directors



Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

Proprietor

Membership No. 500-16570

Krishan Kant Tulshan

Place : New Delhi Director

Dated : 25.05.2016 DIN 00009764

2) Cash flows have been reported using the indirect method, whereby the net profit is adjusted for the effects of

transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments,

segregated between cash flows.

3) Significant cash and cash equivalent balances held by the enterprise are available for use by the Company.

4) Previous year's figures have been regrouped wherever necessary.

1) The cash flow statement has been prepared in accordance with the requirements of Accounting Standard – 3 “Cash Flow Statement” .

CYBER MEDIA RESEARCH & SERVICES LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31

STMARCH, 2016

1. Significant Accounting Policies

The significant account ing policies adopted by the Company in respect of these financial

statement , are set out below:

1.1 Basis of Preparation of financial statements

The financial statements are prepared in accordance with Indian Generally Accepted

Account ing Principles (“ GAAP” ) under the historical cost convent ion on the accrual basis.

GAAP comprises mandatory account ing standards as specified under sect ion 133 of the

Companies Act , 2013 including any statutory modificat ion(s)/ amendment(s) thereto (the

“ Act ” ) read with the Companies (Account ing Standards) Rules, 2006, the provisions of the

Act (to the extent not ified), guidelines issued by the Securit ies and Exchange Board of India

and pronouncements of the Inst itute of Chartered Accountants of India. Account ing policies

have been consistent ly applied except where a newly issued account ing standard is init ially

adopted or a revision to an exist ing account ing standard requires a change in the account ing

policy hitherto in use.

The management evaluates all recent ly issued or revised account ing standards on an

ongoing basis.

1.2 Revenue Recognition

Revenues of all material items and nature are recognized in accordance with Account ing

Standard – 9, i.e., at the t ime of rendering of services or sales. If at the t ime of rendering of

services or sales there is significant uncertainty in ult imate collect ion of the revenue, then

the revenue recognit ion is postponed and in such cases revenue is recognized only when it

becomes reasonably certain that ult imate collect ion will be made. When uncertainty of

collect ion of revenue arises subsequent ly after the revenue recognit ion, provision for the

uncertainty in collect ion is made rather than adjustment in revenue already recognized.

Turnover includes gross value of goods and services and taxes. Dividend income is

recognized when right to receive is established. Interest income is recognized on t ime

proport ion basis taking into account the amount outstanding and rate applicable.

1.3 Fixed Assets, Intangible Assets and Capital W ork-In -Progress

Fixed Assets are stated at cost less accumulated depreciat ion. Direct costs are capitalized

unt il f ixed assets are ready t o use. Capital work-in progress comprises outstanding advances

paid to acquire fixed assets, and the cost of fixed asset s that are not ready for their intended

use at the balance sheet date. Intangible assets are recorded at the considerat ion paid for

acquisit ion.

1.4 Depreciation/ Amortization

Depreciat ion is provided on the st raight -line method at the rates and in the manner

prescribed in Schedule II to the Act on all the assets. Intangible Assets are amort ized in

accordance with Account ing Standard 26 on “ Intangible Assets” . Purchased ‘Intangible

Assets’ is accordingly amort ized on a st raight line method over its est imated useful lives as

specified in Schedule II.


STMARCH, 2016

The cost of internally generated website is accordingly amort ized as prescribed in Schedule

II.

Depreciat ion for assets purchased / sold during a period is proport ionately charged.

Individual low cost assets (acquired for less than Rs. 5,000/ -) are ent irely depreciated in the

year of acquisit ion

1.5 Investments

Trade Investments are the investments made to enhance the Company’s business interests.

Investments are either classified as current and long- term based on the management

intent ion at the t ime of purchase. Current investments are carried at the lower of cost and

fair value. Long-term investments are carried at cost and provisions recorded to recognize

any decline, other than temporary, in the carrying value of each investment .

1.6 Inventory

Inventory of Newsprint , goods in t ransit are stated at cost or net realizable value, whichever

is lower. Cost comprises all cost of purchase, cost of conversion and other costs incurred in

bringing the inventories to their present locat ion and condit ion. Cost formulae used are

‘First In First Out ’. Due allowance is est imated and made for defect ive and obsolete items,

wherever necessary, based on the past experience of the Company.

1.7 Foreign Currency Transactions

Transact ions in Foreign Currency are recorded at the exchange rate prevailing at t he date of

t ransact ion. M onetary items are restated at year-end foreign exchange rates. Resultant

exchange differences arising on payment or conversion of liabilit ies are recognized as

income or expense in the year in which they arise.

1.8 Retirement Benefits

a) Company’s cont ribut ion to the Employees’ Provident Fund is charged to the profit and

loss account each year.

b) Short term employee benefits (M edical, Leave t ravel allowance, etc.) expected to be paid

in exchange for the services rendered are recognised on undiscounted basis

c) Actuarial gains and losses arising from experience adjustments and effects of changes in

actuarial assumpt ions are immediately recognised in the statement of profit and loss

account as income or expense.

d) Gratuity and Leave encashment are provided for on the basis of an actuarial valuat ion

using projected unit credit method (PUCM ).

1.9 Taxation

Income tax is computed using the tax effect account ing method; where income tax is

accrued in the same period in which the related revenue and expenses arise. A provision is

made for income tax annually based on the tax liability computed, after considering tax


STMARCH, 2016

allowances and exempt ions. Provision is also recorded when it is est imated that a liability

due to disallowances or other mat ters is probable.

The differences t hat result between the profit considered for income taxes and the profit as

per the financial statements are ident ified, and thereafter a deferred tax asset or deferred

tax liability is recorded for t iming differences, namely the differences that originate in one

account ing period and reverse in another, based on the tax effect of the aggregate amount

being considered. The tax effect is calculated on the accumulated t iming differences at the

end of an account ing period based on prevailing enacted or substant ively enacted

regulat ions. Deferred tax assets are recognized only if there is reasonable or virtual certainty

that they will be realized and are reviewed for the appropriateness of their respect ive

carrying values at each balance sheet date.

1.10 Borrowing Cost

Borrowing cost at t ributable to the acquisit ion or const ruct ion of a qualifying asset is

capitalized as a part of the cost of that asset . A qualifying asset is one, which takes

substant ial period of t ime to get ready for intended use. Other borrowing costs are

recognized as an expense in the period in which they are incurred.

1.11 Impairment of Assets

Assets that are subject to amort izat ion are reviewed for impairment whenever events or

changes in circumstances indicate that the carrying amount may not be recoverable. An

impairment loss is recognized for the amount by which the assets’ carrying amount exceeds

its recoverable amount . The recoverable amount is the higher of the assets’ fair value less

cost t o sell and value in use. For t he purpose of assessing impairment , assets are grouped at

the lowest levels for which there are separately ident ifiable cash flows (Cash generat ing

units).

1.12 Earnings Per Share

In determining earnings per share, the Company considers the net profit after tax and

includes the post tax effect of any ext raordinary / except ional items. The number of shares

used in comput ing basic earnings per share is the weighted average number of shares

outstanding during the period. The number of shares used in comput ing Diluted EPS

comprises weighted average shares considered for deriving Basic EPS, and also the weighted

average number of equity shares which could have been issued on the conversion of all

dilut ive potent ial equity shares. The ant i-dilut ive effect , if any, of potent ial equity shares on

diluted EPS is ignored as per the requirement of account ing standard -20 on “ Earning per

Share” .

1.13 Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substant ial degree of est imat ion in measurement are recognized when

there is a present obligat ion as a result of past events and it is probable that there will be an

out flow of resources. Cont ingent liabilit ies are not recognized but disclosed in the notes.

Cont ingent assets are neither recognized nor disclosed in the financial statement .


STMARCH, 2016

1.14 Leases

Lease rentals in respect of assets taken on “ Operat ing Lease” are charged to the Profit &

Loss Account .

As at As at

31.03.2016 31.03.2015

2 Share Capital

Authorized Share Capital:

2,50,000 (2,50,000) Equity Shares of Rs. 10/- each 2,500,000 2,500,000

2,500,000 2,500,000

Issued, Susbcribed and Paid Up

1,50,000 (1,50,000) Equity Shares of Rs. 10 each,

subscribed and fully paid up 1,500,000 1,500,000

1,500,000 1,500,000

2.1

Name of the Shareholder

No. of shares % held No. of shares % held

Cyber Media (India) Limited 150,000 100 150,000 100

2.2 The details in respect of holding company

Name of the Shareholder No. of shares % held No. of shares % held

Cyber Media (India) Limited 150,000 100 150,000 100

2.3

Particulars

Equity Shares at the beginning of the year

Add: Shares issued during the year

Equity Shares at the end of the year

3 Reserves and Surplus

General Reserves

As per the Last Balance Sheet 20,500,000 20,500,000

Add: Transferred during the year - -

20,500,000 20,500,000

Profit and Loss Account

As per last Balance Sheet 900,824 9,967,411

Less : Depriciation - 1,507,078

900,824 8,460,333

Add: Profit for the year (10,862,225) (7,559,509)

(9,961,401) 900,823.79

TOTAL 10,538,599 21,400,824

4 Long term Provisions

(a) Provision for employees’ benefits. 1,294,044 1,329,983

TOTAL 1,294,044 1,329,983

5 Short term borrowings

Secured

Working Capital Loan 14,292,754 14,715,222

TOTAL 14,292,754 14,715,222

5.1

6 Trade payables

Micro, Small and Medium Enterprises - -

Others 19,603,628 11,549,203

TOTAL 19,603,628 11,549,203

6.1

The reconciliation of number of shares

outstanding is set out below:

Cash credit facilities from State Bank of Mysore is secured by book debts, immovable property and also the corporate

guarantee of Cyber Media (India) Limited and personal guarantee of Mr. Pradeep Gupta.

The Company has not received any intimation from Micro and Small Enterprises under "The Micro, Small and Medium

enterprises Act, 2006." As per the information available with the Company, no interest is paid or payable under the

Note

No. Particulars

As at As at

31.03.2016 31.03.2015

As at As at

31.03.2016 31.03.2015


Notes on financial statements for the year ended 31st March, 2016


The details of shareholders holding more than 5% shares

CIN : U74130DL1996PLC081509

As at

31.03.2016

No. of shares

150,000

150,000

As at

31.03.2015

No. of shares

150,000

150,000

7 Other Current Liabilities

(a) Advance payments for which value is still to be given - -

(b) Other Payables

-Statutory dues 9,704,529 7,409,561

9,704,529 7,409,561

8 Short term Provisions

(a) Provision for employees’ benefits. - -

(b) Others - -

TOTAL - -

As AT As AT As AT For The Upto As AT As AT

01.04.2015 Additions Deductions Adjustment 31.03.2016 31.03.2015 Year Adjustments 31.03.2016 31.03.2016 31.03.2015

Tangible Assets

Buildings Freehold 2,141,446 - - - 2,141,446 452,714 - - 452,714 1,688,732 1,688,732

Computer Equipments 18,738,045 - 43,200 - 18,694,845 17,801,143 - 8,518 17,792,625 902,220 936,902

Equipments & Installations 751,892 - - - 751,892 677,040 - - 677,040 74,852 74,852

Furniture & Fixtures 8,430,758 - - - 8,430,758 7,202,941 - - 7,202,941 1,227,817 1,227,817

Air Conditioners 544,404 - - - 544,404 517,185 - - 517,185 27,219 27,219

Generator 543,560 - - 543,560 473,355 - - 473,355 70,205 70,205

Vehicles 10,620,593 - - - 10,620,593 8,373,634 1,344,610 - 9,718,244 902,349 2,246,959

Total Tangible Assets (A) 41,770,698 - 43,200 - 41,727,498 35,498,012 1,344,610 8,518 36,834,104 4,893,394 6,272,686

Previous Year 41,731,999 38,699 - - 41,770,698 31,595,792 2,395,142 (1,507,077) 35,498,011 6,272,687 10,136,207

Intangible Assets

Capitalized Software (Purchased) 12,147,161 - - - 12,147,161 4,100,671 1,214,716 - 5,315,387 6,831,774 8,046,490

Total Intangible Assets (B) 12,147,161 - - - 12,147,161 4,100,671 1,214,716 - 5,315,387 6,831,774 8,046,490

Previous Year 12,147,161 - - - 12,147,161 2,885,955 1,214,716 - 4,100,671 8,046,490 9,261,206

Gross Total (A + B) 53,917,859 - 43,200 - 53,874,659 39,598,683 2,559,326 8,518 42,149,491 11,725,168 14,319,176

Previous Year 53,879,160 38,699 - - 53,917,859 34,481,746 3,609,858 (1,507,077) 39,598,681 14,319,178 19,397,414



Note 9: FIXED ASSETS


GROSS BLOCK Depreciation/Amortization NET BLOCKDESCRIPTION

CIN : U74130DL1996PLC081509


As at As at

31.03.2016 31.03.2015

10 Deferred Tax Assets (Net)

Deferred Tax Assets

Disallowance under the Income Tax Act, 1961

Opening Balance 629,900 499,600

Add: During the year - 130,300

629,900 629,900

Business Losses

Opening Balance 18,756,700 14,749,900

Add: During the year 4,285,300 4,006,800

23,042,000 18,756,700

TOTAL(A) 23,671,900 19,386,600

Deferred Tax Liabilities

Related to Fixed Assets

Opening Balance 2,422,600 3,693,000

Add: During the year (546,100) (1,270,400)

1,876,500 2,422,600

TOTAL (B) 1,876,500 2,422,600

TOTAL (A-B) 21,795,400 16,964,000

11 Long Term Loans & Advances

(unsecured and considered good)

(a) Security Deposits 523,170 523,170

(b) Advance Income Tax (Net of Provisions) 10,988,708 10,698,601

(c) Other Loans & Advances 32,291

Advances recoverable in cash or in kind or for value to be - -

11,544,169 11,221,771

12 Inventory

Paper Purchase 183,517 256,871

183,517 256,871

13 Trade Receivables

(Unsecured and Considered good)

Over six months 3,987,450 2,065,286

Others 6,475,471 12,903,841

TOTAL 10,462,921 14,969,127

14 Cash and Bank Balances:

Cash and Cash Equivalents

Cash on hand 24,664 31,605

Balances with Banks

- Current 1,170,729 101,064

- Fixed Deposits

TOTAL 1,195,392 132,668

15 Short-Term Loans & Advances


(a) Loans and advances to related parties - -

(b) Deposits- Earnest money deposit - -

(b) Others -Advance recoverable in cash or in kind or

for value to be received 26,987 41,180

26,987 41,180



CIN : U74130DL1996PLC081509

Note

No. Particualrs


Year Ended Year Ended

31.03.2016 31.03.2015

16 Revenue from Operations

(a) Sale of Services 80,793,001 56,087,279

TOTAL 80,793,001 56,087,279

16.1 Sale of services represents sale of media services.

17 Other Income

Interest income

From Others 178,550 192,586

Other non-operating income (net of expenses directly

attributable to such income)

Miscellaneous Income 90,640 5,386

Net gain/loss on foreign currency translation and

transaction (other than considered as finance cost) - -

TOTAL 269,190 197,972

18 Employee benefits expense

(a) Salaries and Wages 32,940,898 28,281,496

(b) Contribution to Provident & Other Funds 1,080,904 1,285,038

(c) Professional Expenses 5,892,410 -

(c) Staff Welfare Expenses. 486,156 342,059

(d) Staff Recruitment & Training Expenses. - -

40,400,368 29,908,593

18.1 Employees Benefits

i. Gratuity Plan

ii. Leave Encashment Plan

b. Movement in net liability

Particulars

Leave

Encashment

Present value of obligations as on 31.03.2015 1,329,983

Current Service Cost 181,464

Past Service Cost

Interest Cost 103,739

Actuarial (gain)/loss on obligation (321,142)

Less: Benefits paid -

Present value of obligations as on 31.03.2016 1,294,044

c. Reconciliation of assets and liabilities

Particulars

Leave

Encashment Present value of unfunded defined benefit obligations

as on 31.03.2015 1,294,044

Fair value of plan assets** -

Note

No. Particulars



In accordance with the revised Accounting Standard 15 notified under the Companies

(Accounting Standards) Rules, 2006 the requisite disclosures are as follows:

The Company has created a Trust with Life Insurance Corporation Of India under Group

Gratuity Scheme. The Premium paid towards this Scheme is charged to Profit & Loss

Account on payment basis.

The earned leave liability arises on retirement, withdrawal, resignation and death of an

employee. The aforesaid liability is calculated on the basis of yearly accrual of 15 days

salary (i.e last drawn salary) subject to maximum accumulation up to 90 days.

CIN : U74130DL1996PLC081509



31.03.2016 31.03.2015

Note

No. Particulars


Unrecognized Actuarial (gains)/Losses -

Net liability recognized on 31.03.2016 1,294,044

d. Principal actuarial assumptions

Particulars Rate

Discount rate as on 31.03.2016 7.3%

Future salary increase 6%

Average outstanding service of employees upto retiremen 25.34 yrs

19 Finance Cost

(a) Interest Expense 2,700,982 2,702,255

(b) Other borrowing costs - -

TOTAL 2,700,982 2,702,255

20 Depreciation & Amortization expenses

- Amortization Expenses 1,214,716 1,214,716

- Depreciation Expenses 1,344,610 2,395,142

TOTAL 2,559,326 3,609,858

21 Other Expenses

(a) Research, Survey & Convention expenses 40,584,207 22,565,873

(b) Power & Fuel 2,089,717 1,132,501

(c) Rent 279,751 132,513

(d) Repairs to Building 522,429 -

(e) Repairs to Machinery 48,180 65,355

(f) Insurance 47,588 64,233

(g) Rates & Taxes (excluding Income Tax) 38,508 22,367

(h) Miscellaneous Expenditure 2,599,383 1,320,711

(i) Net loss on foreign currency transaction and

translation (other than considered as a finance cost)

(j) Payment to auditors 45,800 44,944

(k) Legal and Professional charges 175,219 4,475,647

(l) Correspondence & Communication 2,436,638 614,850

(m) Travelling and conveyance 2,227,720 2,592,563

(n) Corporate Charges - TOTAL 51,095,140 33,031,557

21.1 Miscellaneous expenditure includes the following:

Advertisement & Publicity - -

Bank Charges - -

Directors Fees - -

Lease Rentals / Hire Charges - -

Loss on sale of assets - -

Membership -Professional Bodies 31,461 -

Newspaper, Books & Periodicals 7,208 24,444

other miscellaneous expenses 1,011,635 428,618

Printing & Stationary 74,391 273,366

R & M - Others 436,675 6,332

Vehicle Running & Maintenance 1,038,013 587,951

2,599,383 1,320,711

** The fair value of plan assets is nil since leave encashment plan are wholly unfunded as

on 31st March 2016.



31.03.2016 31.03.2015

Note

No. Particulars


21.2 Payment to Auditors

• As Auditor 22,900 44,944

• For Taxation Matters 22,900 -

• For Company Law Matters - -

• For Management Services - -

• For Other Services - -

• For reimbursement of expenses. - -

TOTAL 45,800 44,944

22 Earnings Per Share

Profit available to equity shareholders (10,862,225) (7,559,512)

Weighted average number of equity shares 150,000 150,000

Basic EPS (Rs. Per share) (72.41) (50.40)

Weighted average number of equity shares, including

'Potential Equity Shares' 150,000 150,000

Diluted EPS (Rs. Per share) (72.41) (50.40)

Face value per equity share 10 10

23 Earnings in foreign exchange

Market Research income 36,780,350 2,323,554

24 Expenditure in foreign currency

Travelling Expenses 137,463 107,854

Other Expenses - -

25 Remittance of foreign currency on account of dividend

Number of shareholders NIL NIL

Number of shares held NIL NIL

Amount of dividend remitted NIL NIL

Year to which it relates NA NA

Note

No.

26

Year Ended

31-03-2016

Year Ended

31-03-2015

Year Ended

31-03-2016

Year Ended

31-03-2015

Year Ended

31-03-2016

Year Ended

31-03-2015 Purchase & Other

expenses - - - - 3,303 18,990

Rent Paid - - -

Interest on loan received - - -

Closing Balances:

Sundry Debtors 2,354,878 11,214,587

Loans & advances given - - - -

Current liabilities - - - - 2,555,165 2,551,862

27

Geographical Segment

2015-16 2014-15 2015-16 2014-15 2015-16 2014-15

India 44,012,651 47,742,251 56,933,554 57,904,793 - 38,699

Singapore 32,325,426 - - - - -

Other Countries- Sales in

each country less than

10% of Total Sales 4,454,924 8,345,028 - - -

TOTAL 80,793,001 56,087,279 56,933,554 57,904,793 - 38,699

28

29

30

31 The Company has not capitalized any borrowing cost during the year.


For N K Goel & Co



Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

Proprietor

Membership No. 500-16570 Krishan Kant Tulshan

Director


Dated : 25.05.2016

Segment Reporting

The Company is engaged in the business of 'Market Research and Management Consultancy' which is identified as the

only and primary business segment of the Company. Further all the operating facilities located in India. The information

required to be given for secondary segment being business segment is as under:

Sales Carrying cost of asset Capital Expenditure

The Company has taken various offices under cancellable lease agreement. There are no non-cancellable leases.

Lease payment recognized under cancellable lease for the year are Rs NIL (Previous Year Rs NIL)

CIN : U74130DL1996PLC081509

Names of related partries and description of relationship:

Cyber Media (India) Limited

Mrs. Sudha Bala Gupta

Cyber Astro Limited

Holding Company

Relative of Key Management Personnel

Fellow Subsidiary Company

Previous year figures have been regrouped/ reclassified, wherever necessary, to confirm to current year's classification.

The Company has no other information required to be disclosed pursuant to Schedule III to the Companies Act, 2013.



Related party Transactions

In accordance with the requirements of Accounting Standard (AS-18) on Related Party Disclosures, the names of

related parties where control exists and/ or with whom transactions have taken place during the year and description

of relationships, as indentified and certified by management are:

Holding Company Relative of KMP Fellow SubsidiaryNature of transactions

Financial Statements of Cyber Astro Limited for the Financial

Year ended 31.03.2016

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF CYBER ASTRO LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Cyber Astro Limited

(“the Company”), which comprise the Balance Sheet as at 31st March, 2016, the Statement of

Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the

significant accounting policies and other explanatory information.

Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial

performance and cash flows of the Company in accordance with the accounting principles

generally accepted in India, including the Accounting Standards specified under Section 133 of

the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

This responsibility also includes maintenance of adequate accounting records in accordance

with the provisions of the Act for safeguarding of the assets of the Company and for

preventing and detecting frauds and other irregularities; selection and application of

appropriate accounting policies; making judgments and estimates that are reasonable and

prudent; and design, implementation and maintenance of adequate internal financial

controls, that were operating effectively for ensuring the accuracy and completeness of the

accounting records, relevant to the preparation and presentation of the financial statements

that give a true and fair view and are free from material misstatement, whether due to fraud

or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these standalone financial statements based on

our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards

and matters which are required to be included in the audit report under the provisions of the

Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section

143(10) of the Act. Those Standards require that we comply with ethical requirements and

plan and perform the audit to obtain reasonable assurance about whether the financial

statements are free from material misstatement. An audit involves performing procedures to

obtain audit evidence about the amounts and the disclosures in the financial statements. The

procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In

making those risk assessments, the auditor considers internal financial control relevant to the

Company’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes

evaluating the appropriateness of the accounting policies used and the reasonableness of the

accounting estimates made by the Company’s Directors, as well as evaluating the overall presentation of the financial statements.


a basis for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to

us, the aforesaid standalone financial statements give the information required by the Act in

the manner so required and give a true and fair view in conformity with the accounting

principles generally accepted in India, of the state of affairs of the Company as at 31st March,

2016, and its Loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government of India in terms of Section 143(11) of the Act, we give in the

“Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143 (3) of the Act, we report that:

a) We have sought and obtained all the information and explanations which to the best

of our knowledge and belief were necessary for the purposes of our audit;

b) In our opinion, proper books of account as required by law have been kept by the

Company so far as it appears from our examination of those books;

c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement

dealt with by this Report are in agreement with the books of account;

d) In our opinion, the aforesaid standalone financial statements comply with the

Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the

Companies (Accounts) Rules, 2014;

e) On the basis of the written representations received from the directors as on 31st

March, 2016 taken on record by the Board of Directors, none of the directors is

disqualified as on 31st March, 2016 from being appointed as a director in terms of

Section 164 (2) of the Act;

f) With respect to the adequacy of the internal financial controls over financial reporting

of the Company and the operating effectiveness of such controls, refer to our separate

Report in “Annexure B”.

g) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to

the best of our information and according to the explanations given to us:

i. The Company has no litigations and hence no impact on its financial position in

its financial statements.

ii. The Company has made provision, as required under the applicable law or

accounting standards, for material foreseeable losses, if any, on long-term

contracts (refer note 47 on ‘Provision on warranty’ to the financial statements). The Company does not have any derivative contracts;

iii. There has been no delay in transferring amounts, required to be transferred, to

the Investor Education and Protection Fund by the Company.

For N K Goel & Co.


Firm’s Registration No. 001942N

Neeraj Kumar Goel

Proprietor



Dated: May 25, 2016

Annexure A to the Independent Auditor’s Report to the members of Cyber Astro Limited

dated 25/05/2016

Report on the matters specified in paragraph 3 of the Companies (Auditor’s Report) Order, 2016 (“the Order’) issued by the Central Government of India in terms of section 143(11) of the Companies Act, 2013 (“the Act”) as referred to in paragraph 1 of ‘Report on Other Legal

and Regulatory Requirements’ section

(i) (a) The Company is maintaining proper records showing full particulars, including

quantitative details and situation of fixed assets;

(b) These fixed assets have been physically verified by the management at

reasonable intervals; no material discrepancies were noticed on such verification.

(c) The title deeds of immovable properties are held in the name of the Company.

(ii) The physical verification of inventory has been conducted at reasonable intervals by

the management and no any material discrepancies were noticed;

(iii) The Company has not granted any loans, secured or unsecured to companies, firms,

Limited Liability Partnerships or other parties covered in the register maintained under

section 186 of the Companies Act, 2013.

(iv) The Company has not made any loans, investments, guarantees and security to which

section 185 & 186 of the Companies Act, 2013 are applicable, hence clause (iv) of


(v) The Company has not accepted any deposits to which chapter V of the Companies Act,

2013 is applicable, hence clause (v) of paragraph 3 of the Order is not applicable to the

Company;

(vi) The Central Government has not prescribed the maintenance of cost records for the

activities carried on by the Company during the year ended 31st March 2016 under

sub-section (1) of section 148 of the Companies Act, 2013, hence clause (vi) of


(vii) (a) The Company is generally regular in depositing undisputed statutory dues of

provident fund, employees' state insurance, income-tax, sales-tax, service tax, duty of

customs, duty of excise, value added tax, cess and other statutory dues required to be

deposited with the appropriate authorities. There were no outstanding statutory dues

as on the last day of the financial year concerned for a period of more than six months

from the date they became payable.

(b) There are no dues of income tax or sales tax or service tax or duty of customs or

duty of excise or value added tax that have not been deposited on account of any

dispute.

(viii) The Company has not defaulted in repayment of loans or borrowings to a financial

institution, bank, Government or dues to debenture holders, hence clause (viii) of


(ix) The Company has not raised any money by way of initial public offer or further public

offer (including debt instruments). The Company has not term loan, neither the

Company has applied the term loan during the financial year.

(x) No fraud by the Company or fraud on the Company by its officers or employees has

been noticed or reported during the year;

(xi) Managerial remuneration has been paid or provided in accordance with the requisite

approvals mandated by the provisions of section 197 read with Schedule V to the

Companies Act, 2013.

(xii) The Company is not a Nidhi Company, hence clause (xii) of paragraph 3 the Order is

not applicable to the Company;

(xiii) All the transactions with the related parties are in accordance with section 188 of the

Companies Act, 2013. Adequate disclosures as required by the applicable accounting

standards have been made in these financial statements;

(xiv) The Company has neither made preferential allotment nor private placement of shares

or fully & partly convertible debentures during the year under audit, hence clause (xiv)

of paragraph 3 the Order is not applicable to the Company;

(xv) The Company has not entered into with non-cash transactions with directors and

persons connected with him, hence clause (xv) of paragraph 3 the Order is not

applicable to the Company;

(xvi) The Company is not required to be registered under section 45-IA of the Reserve Bank

of India Act, 1934;

For N K Goel & Co.



Neeraj Kumar Goel

Proprietor



Dated: May 25, 2016

Annexure B to the Independent Auditor’s Report to the members of Cyber Astro Limited

dated 25/05/2016

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of

the Companies Act, 2013 (“the Act”) as referred to in paragraph 2(f) of ‘Report on Other

Legal and Regulatory Requirements’ section

We have audited the internal financial controls over financial reporting of Cyber Astro

Limited (“the Company”) as of March 31, 2016 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial controls based on “the internal control over financial reporting criteria established by the

Company considering the essential components of internal control stated in the Guidance

Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of

Chartered Accountants of India”. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for

ensuring the orderly and efficient conduct of its business, including adherence to Company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the

accuracy and completeness of the accounting records, and the timely preparation of reliable

financial information, as required under the Companies Act, 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over

financial reporting based on our audit.

We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial

Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act,

2013, to the extent applicable to an audit of internal financial controls, both applicable to an

audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants

of India. Those Standards and the Guidance Note require that we comply with ethical

requirements and plan and perform the audit to obtain reasonable assurance about whether

adequate internal financial controls over financial reporting was established and maintained

and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the

internal financial controls system over financial reporting and their operating effectiveness.

Our audit of internal financial controls over financial reporting included obtaining an

understanding of internal financial controls over financial reporting, assessing the risk that a

material weakness exists, and testing and evaluating the design and operating effectiveness of

internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial

statements, whether due to fraud or error.


a basis for our audit opinion on the Company’s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designed to provide

reasonable assurance regarding the reliability of financial reporting and the preparation of

financial statements for external purposes in accordance with generally accepted accounting

principles. A company's internal financial control over financial reporting includes those

policies and procedures that:

a) pertain to the maintenance of records that, in reasonable detail, accurately and fairly

reflect the transactions and dispositions of the assets of the company;

b) provide reasonable assurance that transactions are recorded as necessary to permit

preparation of financial statements in accordance with generally accepted accounting

principles, and that receipts and expenditures of the company are being made only in

accordance with authorisations of management and directors of the company; and

c) provide reasonable assurance regarding prevention or timely detection of unauthorised

acquisition, use, or disposition of the company's assets that could have a material effect

on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting,

including the possibility of collusion or improper management override of controls, material

misstatements due to error or fraud may occur and not be detected. Also, projections of any

evaluation of the internal financial controls over financial reporting to future periods are

subject to the risk that the internal financial control over financial reporting may become

inadequate because of changes in conditions, or that the degree of compliance with the

policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial

controls system over financial reporting and such internal financial controls over financial

reporting were operating effectively as at March 31, 2016, based on “the internal control over financial reporting criteria established by the Company considering the essential components

of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over

Financial Reporting issued by the Institute of Chartered Accountants of India”.

For N K Goel & Co.



Neeraj Kumar Goel

Proprietor



Dated: May 25, 2016


Particulars Note

As at

31st March 2016

As at

31st March 2015


Shareholders’ FundsShare Capital 2 2,000,000 2,000,000

Reserves & Surplus 3 (7,883,996) (7,194,414)

(5,883,996) (5,194,414)

Non-current Liabilities

Long-term Provisions 4 1,887,739 821,824

1,887,739 821,824

Current Liabilities

Trade Payables 5

-Micro Small and Medium Enterprises - -

-Others 16,597,359 16,736,761

16,597,359 16,736,761

Other Current Liabilities 6 493,069 487,536

Short-term Provisions 7 848,550 961,732

17,938,978 18,186,029

TOTAL 13,942,721 13,813,439

ASSETS

Non-Current Assets

Fixed Assets 8

(i) Tangible Assets 1,391,812 1,602,316

(ii) Intangible Assets 582,561 374,108

(iii) Capital Work-in Progress - -

(iv) Intangible Assets under development - -

1,974,373 1,976,424

Non-current Investments 9 20,000 20,000

Deferred Tax Assets (net) 10 591,900 264,100

Long-term Loans and Advances 11 3,189,993 3,537,316

5,776,266 5,797,840

Current Assets

Inventories 12 1,278,886 1,316,577

Trade Receivables 13 3,294,669 3,743,991

Cash and Cash Equivalents 14 2,816,362 2,213,252

Short-term Loans and Advances 15 776,538 741,779

8,166,455 8,015,599

TOTAL 13,942,721 13,813,439







Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

ProprietorMembership No. 500-16570

Satrajit Majumdar

Place: New Delhi Director

Date- 25.05.2016 DIN 00019588

CYBER ASTRO LIMITED

BALANCE SHEET AS AT 31ST MARCH, 2016

CIN : U93090DL1997PLC086975


ParticularsNote

As at

31st March, 2016

As at

31st March, 2015

INCOME

Revenue from Operations 16 51,074,738 49,834,344

Other Income 17 21,280 376,562

Total Revenue 51,096,018 50,210,906

EXPENDITURE

Purchases of Stock-in-Trade 18 1,058,298 1,478,975

Changes in Inventories of Finished Goods/Work-in-Progress

and Stock-in-Trade 19 37,691 57,115

Employee Benefits Expenses 20 19,628,406 18,468,413

Finance Costs 21 - -

Depreciation and Amortization 22 463,712 833,502

Other Expenses 23 30,916,626 29,124,717

Total Expenses 52,104,733 49,962,722

Profit Before Tax (1,008,715) 248,185

Tax Expenses

(1) Current Tax 8,667 114,349

(2) Deferred Tax (327,800) 67,500

Profit (Loss) for the Period (689,581) 66,336

Earnings per equity share of face value of Rs 10/- each 24

(1) Basic (3.45) 0.33

(2) Diluted (3.45) 0.33







Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

Proprietor

Membership No. 500-16570 Satrajit Majumdar

Director

Place: New Delhi DIN 00019588

Date- 25.05.2016

CYBER ASTRO LIMITED

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2016

CIN : U93090DL1997PLC086975


As at

31st March, 2016

As at

31st March,

2015

A CASH FLOW FROM OPERATING ACTIVITIES

Net Profit Before Tax (1,008,715) 248,185

Adjustments for:

Depreciation 463,712 833,502

Interest Paid - -

Employee Benefits Expense 952,733 (1,134,096)

Interest Received (21,280) (370,062)

Exchange Difference in Foreign Diff. - -

1,395,165 (670,656)

Operating profit before working capital

changes 386,450 (422,471)

Adjustments for:

(Increase)/decrease in Inventories 37,691 57,115

(Increase)/decrease in Trade Receivable 449,322 (106,013)

(Decrease)/Increase in Current Liabilities &

Provisions (133,869) (9,901,481)

(Increase)/Decrease in Loans & Advances (34,759) (51,277)

318,384 (10,001,656)

Cash Generated From Operations 704,834 (10,424,127)

Income Tax Paid (338,656) 611,291

Net cash from Operating Activities 1,043,490 (11,035,418)

B CASH FLOW FROM INVESTING ACTIVITIES

Inflows:

Sale of fixed assets 146,538 71,850

Interest Received 21,280 370,062

167,818 441,912

Outflows:

Acquisition of fixed assets (608,199) (608,199) (439,205)

Increase in investments -

Net cash from Investing Activities (440,382) 2,707

C CASH FLOW FROM FINANCING ACTIVITIES

Inflows:

Proceeds from Secured Loans - -

-

Outflows:

Net Proceeds from borrowings - -

Interest Paid - -

- -

Net cash from Financing activities - -

D EXCHANGE DIFFERENCE IN FOREIGN

CURRENCY - -

Net (Decrease)Increase in Cash & Cash

equivalents (A+B+C+D) 603,109 (11,032,711)

Cash & Cash Equivalents (Opening) 2,213,252 13,245,965

Cash & Cash Equivalents (Closing) 2,816,362 2,213,254

0 -

Notes to Cash Flow Statement

CIN : U93090DL1997PLC086975

CYBER ASTRO LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2016

1) The cash flow statement has been prepared in accordance with the requirements of Accounting

Standard – 3 “Cash Flow Statement” .2) Cash flows have been reported using the indirect method, whereby the net profit is adjusted for the

effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash





Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

Proprietor


Satrajit Majumdar

Place: New Delhi Director

Date- 25.05.2016 DIN 00019588

3) Significant cash and cash equivalent balances held by the enterprise are available for use by the

This is the Cash Flow Statement Referred to in our report of even date

4) Previous year's figures have been regrouped whereever necessary.

2) Cash flows have been reported using the indirect method, whereby the net profit is adjusted for the

effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash

CYBER ASTRO LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016

1. Significant Accounting Policies

The significant accounting policies adopted by the Company in respect of these financial

statement, are set out below:

1.1 Basis of Preparation of financial statements

The financial statements are prepared in accordance with Indian Generally Accepted

Accounting Principles (“GAAP”) under the historical cost convention on the accrual basis. GAAP comprises mandatory accounting standards as specified under section 133 of the

Companies Act, 2013 including any statutory modification(s)/amendment(s) thereto (the

“Act”) read with the Companies (Accounting Standards) Rules, 2006, the provisions of the Act (to the extent notified), guidelines issued by the Securities and Exchange Board of India

and pronouncements of the Institute of Chartered Accountants of India. Accounting policies

have been consistently applied except where a newly issued accounting standard is initially

adopted or a revision to an existing accounting standard requires a change in the accounting

policy hitherto in use.

The management evaluates all recently issued or revised accounting standards on an

ongoing basis.

1.2 Revenue Recognition

Revenues of all material items and nature are recognized in accordance with Accounting

Standard – 9, i.e., at the time of rendering of services or sales. If at the time of rendering of

services or sales there is significant uncertainty in ultimate collection of the revenue, then

the revenue recognition is postponed and in such cases revenue is recognized only when it

becomes reasonably certain that ultimate collection will be made. When uncertainty of

collection of revenue arises subsequently after the revenue recognition, provision for the

uncertainty in collection is made rather than adjustment in revenue already recognized.

Turnover includes gross value of goods and services and taxes. Dividend income is

recognized when right to receive is established. Interest income is recognized on time

proportion basis taking into account the amount outstanding and rate applicable.

1.3 Fixed Assets, Intangible Assets and Capital Work-In -Progress

Fixed Assets are stated at cost less accumulated depreciation. Direct costs are capitalized

until fixed assets are ready to use. Capital work-in progress comprises outstanding advances

paid to acquire fixed assets, and the cost of fixed assets that are not ready for their intended

use at the balance sheet date. Intangible assets are recorded at the consideration paid for

acquisition.

1.4 Depreciation/ Amortization

Depreciation is provided on the straight-line method at the rates and in the manner

prescribed in Schedule II to the Act on all the assets. Intangible Assets are amortized in

accordance with Accounting Standard 26 on “Intangible Assets”. Purchased ‘Intangible Assets’ is accordingly amortized on a straight line method over its estimated useful lives as

specified in Schedule II.


The cost of internally generated website is accordingly amortized as prescribed in Schedule

II.

Depreciation for assets purchased / sold during a period is proportionately charged.

Individual low cost assets (acquired for less than Rs. 5,000/-) are entirely depreciated in the

year of acquisition

1.5 Investments

Trade Investments are the investments made to enhance the Company’s business interests. Investments are either classified as current and long- term based on the management

intention at the time of purchase. Current investments are carried at the lower of cost and

fair value. Long-term investments are carried at cost and provisions recorded to recognize

any decline, other than temporary, in the carrying value of each investment.

1.6 Inventory

Inventory of Newsprint, goods in transit are stated at cost or net realizable value, whichever

is lower. Cost comprises all cost of purchase, cost of conversion and other costs incurred in

bringing the inventories to their present location and condition. Cost formulae used are

‘First In First Out’. Due allowance is estimated and made for defective and obsolete items, wherever necessary, based on the past experience of the Company.

1.7 Foreign Currency Transactions

Transactions in Foreign Currency are recorded at the exchange rate prevailing at the date of

transaction. Monetary items are restated at year-end foreign exchange rates. Resultant

exchange differences arising on payment or conversion of liabilities are recognized as

income or expense in the year in which they arise.

1.8 Retirement Benefits

a) Company’s contribution to the Employees’ Provident Fund is charged to the profit and loss account each year.

b) Short term employee benefits (Medical, Leave travel allowance, etc.) expected to be paid

in exchange for the services rendered are recognised on undiscounted basis

c) Actuarial gains and losses arising from experience adjustments and effects of changes in

actuarial assumptions are immediately recognised in the statement of profit and loss

account as income or expense.

d) Gratuity and Leave encashment are provided for on the basis of an actuarial valuation

using projected unit credit method (PUCM).

1.9 Taxation

Income tax is computed using the tax effect accounting method; where income tax is

accrued in the same period in which the related revenue and expenses arise. A provision is

made for income tax annually based on the tax liability computed, after considering tax


allowances and exemptions. Provision is also recorded when it is estimated that a liability

due to disallowances or other matters is probable.

The differences that result between the profit considered for income taxes and the profit as

per the financial statements are identified, and thereafter a deferred tax asset or deferred

tax liability is recorded for timing differences, namely the differences that originate in one

accounting period and reverse in another, based on the tax effect of the aggregate amount

being considered. The tax effect is calculated on the accumulated timing differences at the

end of an accounting period based on prevailing enacted or substantively enacted

regulations. Deferred tax assets are recognized only if there is reasonable or virtual certainty

that they will be realized and are reviewed for the appropriateness of their respective

carrying values at each balance sheet date.

1.10 Borrowing Cost

Borrowing cost attributable to the acquisition or construction of a qualifying asset is

capitalized as a part of the cost of that asset. A qualifying asset is one, which takes

substantial period of time to get ready for intended use. Other borrowing costs are

recognized as an expense in the period in which they are incurred.

1.11 Impairment of Assets

Assets that are subject to amortization are reviewed for impairment whenever events or

changes in circumstances indicate that the carrying amount may not be recoverable. An

impairment loss is recognized for the amount by which the assets’ carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the assets’ fair value less cost to sell and value in use. For the purpose of assessing impairment, assets are grouped at

the lowest levels for which there are separately identifiable cash flows (Cash generating

units).

1.12 Earnings Per Share

In determining earnings per share, the Company considers the net profit after tax and

includes the post tax effect of any extraordinary / exceptional items. The number of shares

used in computing basic earnings per share is the weighted average number of shares

outstanding during the period. The number of shares used in computing Diluted EPS

comprises weighted average shares considered for deriving Basic EPS, and also the weighted

average number of equity shares which could have been issued on the conversion of all

dilutive potential equity shares. The anti-dilutive effect, if any, of potential equity shares on

diluted EPS is ignored as per the requirement of accounting standard -20 on “Earning per Share”.

1.13 Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when

there is a present obligation as a result of past events and it is probable that there will be an

outflow of resources. Contingent liabilities are not recognized but disclosed in the notes.

Contingent assets are neither recognized nor disclosed in the financial statement.


1.14 Leases

Lease rentals in respect of assets taken on “Operating Lease” are charged to the Profit &

Loss Account.


Note

No. As at

31st March, 2016

As at

31st March, 2015

2 Share Capital

Authorized Share Capital:

200,000 (200,000) Equity Shares of Rs.10/- each 2,000,000 2,000,000

2,000,000 2,000,000

Issued, Susbcribed and Paid Up

200,000 (200,000) Equity Shares of Rs.10/- each, fully paid up 2,000,000 2,000,000

TOTAL 2,000,000 2,000,000

2.1 The details of shareholders holding more than 5%

Name of the Shareholder

No. of shares % held No. of shares % held

Cyber Media India Ltd. 75,000 37.50% 75,000 37.50%

Mr. Satrajit Majumdar 40,000 20.00% 40,000 20.00%

Mr. Pradeep Gupta 47,984 23.99% 47,984 23.99%

Mrs. Anuradha Gupta 15,000 7.50% 15,000 7.50%

2.2 The reconciliation of number of shares outstanding is set

out below:

Particulars No. of shares Amount No. of shares Amount

Equity Shares at the beginning of the year 200,000 2,000,000 200,000 2,000,000

Add: Shares Issued during the year - - - -

Equity Shares at the end of the year 200,000 2,000,000 200,000 2,000,000

3 RESERVES AND SURPLUS

Profit and Loss Account

As per last Balance Sheet (7,194,414) (7,579,972)

Add: Profit for the year (689,581) 66,336

Dep.Adjusted as per Shedule II Companies Act 2013 -

Less: Appropriations - 319,222

(7,883,996) (7,194,414)

TOTAL (7,883,996) (7,194,414)

4 Long term Provisions

(a) Provision for employees’ benefits. 1,887,739 821,824

TOTAL 1,887,739 821,824

5 Trade payables

Micro Small and Medium Enterprises - -

Others 16,597,359 16,736,761

TOTAL 16,597,359 16,736,761

5.1

5.2

The Company has not received any intimation from Micro, Small and Medium enterprises under the 'Micro, Small and Medium

Enterprises development Act, 2006'. As per information available with the company, no interest is paid or payable under the Act.

Trade Payables includes amount payable to vendors,consultants,employees and inter company balances etc.

CYBER ASTRO LIMITED


CIN : U93090DL1997PLC086975

As at

31st March, 2016

As at 31st

March, 2015

6 Other Current Liabilities

(a) Advance payments for which value is still to be given 131,788 13,342

(b) Unpaid dividend - -

(c) Interest Due but not paid - -

(d) Other Payables

- Creditors Against Capital Expenditure - -

- Statutory Dues 261,281 374,194

- Other Advances - -

- Security Deposit 100,000 100,000 TOTAL 493,069 487,536

7 Short term Provisions

(a) Provision for employees’ benefits. 779,145 849,153

(b) Provision for Expenses 69,405 112,579

(c) Provision for Income Tax -

TOTAL 848,550 961,732

Note No. 8: Fixed Assets Notes on Financial Statements for the period ended 31st March, 2016


Particulars

As At

01.04.2015 Additions Sales Adjustment

As At

31.03.2016

As At

01.04.2015

For the

period

Deduction /

Adjustments

As At

31.03.2016

As At

31.03.2016

As At

31.03.2015

TANGIBLE ASSETS

Computers Equipments 1,903,654 37,950 - - 1,941,604 1,683,601 110,451 1,794,052 147,552 220,053

Furniture & Fixtures 968,173 59,263 - - 1,027,436 145,898 100,184 246,082 781,354 822,275

Office Equipments 536,802 151,560 17,000 - 671,362 261,850 106,620 3,539 364,931 306,431 274,952

Air Conditioner 262,616 80,000 - - 342,616 121,419 64,722 186,141 156,475 141,197

Vehicle-Car 152,155 152,155 - - 8,316 10,762 19,078 (0) 0 143,839

TOTAL TANGIBLE ASSETS (A) 3,823,400 328,773 169,155 3,983,018 2,221,084 392,739 22,617 2,591,206 1,391,812 1,602,316

Previous Year Balance 3,495,442 419,257 91,300 - 3,823,399 1,770,626 469,908 19,450 2,221,084 1,602,315 1,724,816

INTANGIBLE ASSETS

Software 444,161 279,426 - - 723,587 70,053 70,973 141,026 582,561 374,108

TOTAL INTANGIBLE ASSETS (B) 444,161 279,426 - - 723,587 70,053 70,973 - 141,026 582,561 374,108

Previous Year Balance 424,211 19,950 - - 444,161 25,681 44,372 70,053 374,108 398,530

TOTAL (A+B) 4,267,561 608,199 169,155 - 4,706,605 2,291,137 463,712 22,617 2,732,232 1,974,373 1,976,424

Previous Year Balance 3,919,653 439,207 91,300 - 4,267,560 1,796,307 514,280 19,450 1,796,307 1,976,423 2,123,346

GROSS BLOCK DEPRECIATION/AMORTIZATION NET BLOCK

Cyber Astro Limited

CIN : U93090DL1997PLC086975


Note

No.

Particulars As at

31st March

2016

As at

31st March,

2015

9 Non-Current Investments

Investment in Subsidiary Company

Other Investments

Unquoted

ESOP Trust - Settlors' Amount 20,000 20,000 TOTAL 20,000 20,000

9.1 Aggregate amount of the Unquoted

Investments 20,000 20,000


Deferred Tax Assets

Disallowance under the Income Tax Act


Add : During the year 327,400 (87,300)

710,600 383,200

Carry Forward Losses

Opening Balance - -

Add : During the year - -

- -

TOTAL (A) 710,600 383,200


Related to Fixed Assets


Add : During the year (400) (19,800)

118,700 119,100

TOTAL (B) 118,700 119,100

TOTAL (A-B) 591,900 264,100

11 Long Term Loans & Advances

(Unsecured,considered good)

(a) Security Deposits -

(b) Advance Income Tax (Net of Provisions) 1,077,978 1,255,090

(c) Other Loans & Advances -

Advance recoverable in cash or in kind 2,112,015 2,282,226 Total 3,189,993 3,537,316

12 Inventories

(a) Stock-in-Trade (in respect of goods

acquired for trading) 1,278,886 1,316,577 TOTAL 1,278,886 1,316,577

12.1

13 Trade Receivables


over six months - -

others 3,294,669 3,743,991 TOTAL 3,294,669 3,743,991

13.1

CYBER ASTRO LIMITED

Valuation of Raw Materials and Stock-in-Trade are valued at First in First Out

Method

Trade receivable includes amount due from Subsidiary/Associates on account


CIN : U93090DL1997PLC086975


Note

No.

Particulars As at

31st March

2016

As at

31st March,

2015

CYBER ASTRO LIMITED


CIN : U93090DL1997PLC086975

14 Cash and Bank Balances :

Cash and Cash Equivalents

Cash in hand - -

Balances with Banks

-Current Accounts 2,674,617 2,071,507

-FDR with Bank 141,745 141,745

Margin Money - TOTAL 2,816,362 2,213,252

15 Short-Term Loans & Advances


(a) Loans and advances to related parties - -

(b) Security Deposit 776,538 741,779

(c) Other Loan and Advances (In Cash or

kind) - -

(d) Advance given to party - - Total 776,538 741,779


Note

No.

As at

31st March,

2016

As at

31st March,

2015

16 Revenue from Operations

(a) Sale of Products 3,132,258 4,284,097

(b) Sale of Services 47,942,480 45,550,247

(c) Other Operating Revenues - - TOTAL 51,074,738 49,834,344

16.1 Sale of service represents technical, astrology services and sale of gemstones etc.

17 Other Income

Interest income 21,280 370,062

From Others - 6,500 TOTAL 21,280 376,562

18 Purchase of Stock - in - Trade

Purchase 1,058,298 1,478,975 TOTAL 1,058,298 1,478,975

19

Inventories (at close)

Finished Goods 1,278,886 1,316,577

Inventories (at commencement)

Finished Goods 1,316,577 1,373,692 TOTAL 37,691 57,115

20 Employee Benefits Expenses

Salaries and Wages 18,403,005 16,703,215

Contribution to Provident & Other Funds 728,841 771,053

Staff Welfare Expenses 496,560 994,145 Total 19,628,406 18,468,413

20.1

a. Description of the type of plan(s)

i. Gratuity Plan

ii. Leave Encashment Plan

b. Movement in net liability

Particulars

Leave

Encashment Total

Present value of obligations as on 31.03.15 414,888 1,048,073

Current Service Cost 56,608 105,996

Past Service Cost - -

Interest Cost 32,361 85,857

Actuarial (gain)/loss on obligation (58,890) 647,813

Less: Benefits paid - - Present value of obligations as on 31.03.16 444,967 1,887,739


Changes in Inventories of finished goods, Work-in-

Progress and Stock-in-trade.

CYBER ASTRO LIMITED

In accordance with the revised Accounting Standard 15 notified under the Companies

(Accounting Standards) Rules, 2006 the requisite disclosures are as follows:

The Gratuity liability arises on retirement, resignation and death of an employee. The

aforesaid liability is calculated in accordance with The Payment Of Gratuity Act, 1972.

The earned leave liability arises on retirement, withdrawal, resignation and death of an

employee. The aforesaid liability is calculated on the basis of yearly accrual of 30 days

salary (i.e last drawn salary) subject to maximum accumulation up to 90 days.

CIN : U93090DL1997PLC086975


Note

No.

As at

31st March,

2016

As at

31st March,

2015


c. Reconciliation of assets and liabilities

Particulars

Leave

Encashment TotalPresent value of unfunded defined benefit obligations

as on 31.03.16 444,967 1,887,739

Fair value of plan assets ** - - Net liability recognized on 31.03.2016 444,967 1,887,739

d. Principal actuarial assumptions

Particulars Rate (%)

Discount rate as on 31.03.2016 7.30%

Future salary increase 6.00%

Average outstanding service of employees upto 25.59

21 Finance Cost

(a) Interest Expense - -

(b) Other Borrowing Costs -

Bank Charges -

CC Account Processing fee - TOTAL - -

22 Depreciation & Amortization expenses

Amortization expenses 70,973 44,372

Depreciation expenses 392,739 789,130 TOTAL 463,712 833,502

23 Other expenses

Consulting & Technology Expenses 14,824,186 14,662,215

Discount/Commission on Sales & Services - -

Power & Fuel 1,632,000 1,105,760

Rent 2,576,000 2,371,100

Repairs to Building 136,605 132,554

Repairs to Machinery 54,617 444,941

Insurance 19,210 30,769

Rates & Taxes (excluding Income Tax) 280,760 (202,983)

Miscellaneous Expenditure 2,504,357 2,874,402

Net loss on foreign currency transaction and

translation (other than considered as finance cost) - -

Payment to Auditors 105,605 68,736

Legal and Professional charges 6,053,886 4,281,369

Correspondence & Communication 1,881,405 1,411,593

Travelling & Conveyance 847,996 1,944,260 TOTAL 30,916,626 29,124,717

** The fair value of plan assets is nil since gratuity and leave encashment plan are

wholly unfunded as on 31st March, 2016


Note

No.

As at

31st March,

2016

As at

31st March,

2015


23.1 Payment to Auditors

• As Auditor 57,500 68,736

• For Taxation Matters 28,750 -

• For Company Law Matters - -

• For Management Services -

• For Other Services 19,355

• For reimbursement of expenses. - TOTAL 105,605 68,736

23.2 Miscellaneous expenditure includes the following:

Advertisement & Publicity 9,900 22,091

News Paper & Periodicals 61,727

Bank Charges 55,409 -

Directors Fees - 10,225

Lease Rentals / Hire Charges - -

Loss on Sale of Assets - 2,094,576

Membership fees 44,425 92,807

Newspaper, Books & Periodicals 260 132,612

other miscellaneous expenses 1,569,074 460,365

Printing & Stationary 53,455 92,807

R & M - Others 239,680 132,612

Vehicle Running & Maintenance 532,154 460,365

2,504,357 3,560,186

24 Earnings Per Share

Profit available to equity shareholders (689,581) 66,336

Weighted average number of equity shares 200,000 200,000

Basic EPS (Rs. Per share) (3.45) 0.33

Weighted average number of equity shares, including

'Potential Equity Shares' 200,000 200,000

Diluted EPS (Rupees Per share) (3.45) 0.33

Face value per equity share 10 10

25 Earning in Foreign exchange

Consulting & Spiritual Services 47,690,622 31,730,964

26 Expenditure in foreign currency

Server Rental 1,704,770 1,590,776

Travel - 378,748

Others - -

27 Remittance of foreign currency on account of

dividend

Number of Shareholders 1 1

Number of Shares held 6,516 6,516

Amount of dividend remitted NIL NIL

Year to which it relates NA NA

Note No.

28

Year Ended

31-03-2016

Year Ended 31-

03-2015

Year Ended

31-03-2016

Year Ended 31-

03-2015

Year Ended

31-03-2016

Year Ended 31-

03-2015

- - -

234,461 257,414 3,302 87,361

- -

1,951,623 1,500,000

2,555,165 2,533,254

13,526,288 21,216,449

13,760,749 21,473,863 1,951,623 1,500,000 2,558,467 2,620,615

29

Year Ended

31-03-2016

Year Ended 31-

03-2015

Year Ended

31-03-2016

Year Ended 31-

03-2015

Year Ended

31-03-2016

Year Ended 31-

03-2015

3,384,116 3,750,222 13,942,721 13,813,439 608,199 439,207

47,690,622 31,730,964 - - - -

51,074,738 35,481,186 13,942,721 13,813,439 608,199 439,207

30

31

32

33

34 Company has not capitalized any borrowing cost during the year.


For N K Goel & Co



Pradeep Gupta

Director

DIN 00007520

Neeraj Kumar Goel

Proprietor

Membership No. 500-16570 Satrajit Majumdar

Director


Date : 25.05.2016

CIN : U93090DL1997PLC086975

Fellow Subsidiary

Fellow Subsidiary Cyber Media Research & Services Limited

Key Management Personnel Mr.Satrajit Majumdar

Managerial Remuneration

Company having Significant

influence Cyber Media (India) Limited


Carrying cost of asset Capital Expenditure

Related party TransactionsIn accordance with the requirements of Accounting Standard (AS-18) on Related Party Disclosures, the names of related parties where

control exists and/ or with whom transactions have taken place during the year and

description of relationships, as identified and certified by management are:

Nature of transactions Holding Company* Key Management Personal

The company has taken various offices under cancellable lease agreement.There are no non-cancellable leases.Lease payment

recognized under cancellable lease for the year are Rs.2574500/- (Previous Year Rs. 2369100/-)

The Company has no other information required to be disclosed pursuant to Schedule III to the Companies Act, 2013.

IndiaOther Countries-Sales in each

country less than 10% of Total

Sundry Debtors

Sundry Creditors

Total

Names of related partries and description of relationship:

The Company is engaged in the business of 'Market research and management Consultancy' which is identified as the only and primary

business segment of the Company. Further all the operating facilities located in India. The information required to be given for secondary

segment being business segment is as under:

TOTAL

In the opinion of the management,there is no permanent diminution in the value of investments

Previous year figures have been regrouped/ reclassified, wherever necessary, to confirm to current year's classification.

CYBER ASTRO LIMITED

Segment Reporting

Purchase & Other expenses

Sales & Other Income

Interest paid

Geographical Segment Sales

Financial Statements of Cyber Media India LLC for the

Financial Year ended 31.03.2016

PARTICULARS SCHEDULE AS AT AS AT

NO. 31.03.2016 31.03.2015


Share Capital 1 128,825,098 128,825,098

Reserves and Surplus 2 110,262,797 98,928,121

MINORITY INTEREST - -

LOAN FUNDS

Long Term Borrowings 3 62,512,587 77,512,793

Long Term Provisions 4 - -

Short Term Borrowings 5 23,511,652 43,491,398

Trade Payables 6 26,270,086 115,117,794

Other Current Liabilities 7 81,915,444 3,795,903

Short Term Provisions 8 6,823,913 5,697,480

440,121,578 473,368,587

ASSETS

FIXED ASSETS 9

Tangible Assets 2,022,761 2,412,930

Intangible Assets 182,150,328 194,249,987

184,173,089 196,662,917

INVESTMENTS 10 76,455,460 72,142,197

Deferred Tax Assets 11 4,992,852 4,711,179

Long Term Loans and Advances 12 16,628,009 -

Inventories 13 53,579,567 51,011,502

Sundry Debtors 14 88,902,814 91,637,443

Cash and Bank Balance 15 12,178,977 47,497,829

Shorft Term Loans and Advances 16 3,210,810 9,705,521

440,121,578 473,368,588

CYBER MEDIA INDIA LLC

CONSOLIDATED BALANCE SHEET AS AT 31.03.2016

(All figures in INR)

SCHEDULE Year Ending Year Ending

NO. 31.03.2016 31.03.2015INCOME

Sales 17 251,481,488 263,141,962

Other Income 18 217,293 19,686

251,698,780 263,161,648

EXPENDITURE

Direct Exp 19 97,762,508 104,851,272

Personnel Exp 20 96,672,265 90,848,748

Other Expenses 21 27,915,856 29,205,379

Financial Expenses 22 4,989,040 7,020,433

Depreciation & Amortizations 23 24,680,718 23,384,774

252,020,386 255,310,606

PROFIT BEFORE TAX (321,606) 7,851,042

Provison for taxation - -

NET PROFIT AFTER TAX (321,606) 7,851,042

Dividend - -

Extraordinary Item, net of tax - -

NET PROFIT AFTER TAX AND (321,606) 7,851,042

Balance Brought Forward 26,638,573 18,787,530

Balance Carried Forward 26,316,967 26,638,573



CONSOLIDATED PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31.03.2016

31.03.2016 31.03.2015

1 SHARE CAPITAL

Share Capital

Representing 100% ownership Interest 128,825,098 128,825,098

128,825,098 128,825,098


Foreign Currency Translation Reserve 71,810,369 72,289,549

Profit & Loss A/c

At Commencement of the year 38,774,033 18,787,530

Add : Profit for the Year (321,605) 7,851,042

38,452,429 26,638,572

Less : Negative Minority Share - -

Balance C/F 38,452,429 26,638,572

110,262,797 98,928,121

MINORITY INTEREST - -

- -

3 LONG TERM BORROWINGS

Secured Loans

Term Loan 19,396,137 77,512,793

19,396,137 77,512,793

Unsecured Loans

From Others 43,116,450 -

From Holding Company - -

43,116,450 -

62,512,587 77,512,793

4 LONG TERM PROVISIONS

Income Tax - -

Dividend Payable - -

Employee Benefits - -

- -

5 SHORT TERM BORROWINGS

Secured Loans

Term Loan * -

Cash Credit Facilities 23,511,652 43,491,398

23,511,652 43,491,398

Unsecured Loans

Loans & Advances from related Others : -

Loans & Advances from Others : - -

- -

23,511,652 43,491,398

* Amount payable within one year - -

6 TRADE PAYABLES

Sundry Creditors

Micro Small and Medium Enterprises - -

Others 26,270,086 115,117,794

26,270,086 115,117,794

7 OTHER CURRENT LIABILITIES

Acceptances 1,012,039 1,710,976

Duties & Taxes 3,583,573 1,596,065

Interest due but not paid 977,191 488,862

SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016

(All Figures in INR)


31.03.2016 31.03.2015

SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016

(All Figures in INR)


Advance payments for which value still to be given 76,342,641 -

81,915,444 3,795,903

8 SHORT TERM PROVISIONS

Others - -

Employee Benefits 6,823,913 5,697,480

6,823,913 5,697,480

9 FIXED ASSETS (See Note 1)

Tangible Assets

Gross 14,297,531 12,585,620

Depreciation 12,274,770 10,172,690

2,022,761 2,412,930

Intangible Assets

Gross 365,748,953 345,146,442

Depreciation 183,598,626 150,896,456

182,150,328 194,249,987

184,173,089 196,662,917

10 INVESTMENTS

Long-term investments (unquoted)

SX-2 Media LLC 76,455,460 72,142,197

CMP Cyber Media LLC - -

Publishing Services - -

TDA Group LLC - -

76,455,460 72,142,197

Aggregate amount of Unquoated Investments 76,455,460 72,142,197

11 Deferred Tax Assets 4,992,852 4,711,179

12 LONG TERM LOANS AND ADVANCES

Unsecured considered good - -

Loans and Advances to Related Parties 14,540,194 -

Advance Income Tax (Net of Provisions) -

Other Deposits 2,087,815 -

Advance income tax - -

16,628,009 -

13 INVENTORIES

Inventories - -

Work In Progress 53,579,567 51,011,502

53,579,567 51,011,502

14 SUNDRY DEBTORS

Unsecured

Debts- Outstanding for a period exceeding six months - -

Considered Good Other Debts 88,902,814 91,637,443

88,902,814 91,637,443

15 CASH AND BANK BALANCES

Cash in hand 32,871 31,295

Balances with Scheduled Banks in Indian Rupees

In Current Accounts 12,146,106 47,466,534

12,178,977 47,497,829

16 SHORT TERM LOANS AND ADVANCES

Unsecured considered good

Loan to Holding Company - 3,129,540

Prepaid Expenses -

Advances For Supply of goods and rendering of services

3,210,810 2,585,329

Other Deposits - 3,990,652


SCHEDULES TO THE PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31.03.2016

Year Ending Year Ending

31.03.2016 31.03.2015

17 Sales

Sales 251,481,488 263,141,962

251,481,488 263,141,962

18 Other Income

Dividend Income - 19,686

Interest Income 217,293

217,293 19,686

19 DIRECT EXPENSES

Press, News, Programme and Article Services

Opening Stock 53,579,567 -

Add : Expenses Incurred During the Year

Press, News, Programme and Article Services 97,762,508 104,851,272

151,342,075 104,851,272

Less : Closing Stock 53,579,567 -

97,762,508 104,851,272

Development Expenses - -

Events & Seminars - -

Hosting Server Charges - -

Packing and Despatch - -

Printing and Processing - -

Research & Survey - -

Discount on Sales & Services - -

97,762,508 104,851,272

-

20 PERSONNEL EXPENSES

Salaries, Bonus and Allowances 92,538,226 86,948,670

Contribution to Provident and Other Funds 4,074,073 3,803,143

Staff Welfare - -

Staff Recruitment & Training 59,966 96,935

96,672,265 90,848,748

21 OTHER EXPENSES

Electricity & Water - -

Rental 10,713,627 12,185,720

Repair and Maintenance - Building -

Repair and Maintenance - Plant & Machinery 949,714 785,775

Insurance 138,820 59,823

Rates and Taxes 186,149 308,214

Miscellaneous Expenses 2,510,310 3,922,447

Loss on exchange rate fluctuations - -

Remuneration to Statutory Auditors - -

Legal and Professional Charges 7,519,765 6,959,724

Correspondence and Communications 1,112,429 723,072

Travelling and Conveyance 1,520,640 1,886,708

Central & Apportioned Expense -

Advertisement and Publicity 3,121,110 2,240,078

Bank Charges 52,328 -

Newspaper, Books and Periodicals - -

Preliminary Expenses written off - -

Printing and Stationary 90,963 133,818

Vehicle Running and Maintenance - -

27,915,856 29,205,379

22 FINANCIAL EXPENSES

Interest

Term Loans 4,003,856 6,648,882

Other Interest - -

Cash Credit Facilities 985,184 -

Financial Charges - 371,551

4,989,040 7,020,433

23 DEPRECIATION & AMORTISATION

Depreciation 1,464,862 23,384,774

Amortisation 23,215,856 -

24,680,718 23,384,774

Provision For Taxation - -

Provision for Dividend - -

Extraordinary Item, net of tax - -

PBT (321,606) 7,851,042

NOTE 1 TO SCHEDULE 5-

FIXED ASSETS (In Rupees)

AS AT AS AT Translation AS AT UPTO FOR THE UPTO Translation UPTO AS AT AS AT Translation AS AT

DESCRIPTION 01.04.2015 ADDITIONS DEDUCTIONS 31.03.2016 Difference 31.03.2016 31.03.2015 YEAR ADJUSTMENTS 31.03.2016 Difference 31.03.2016 31.03.2016 31.03.2015 Difference 31.03.2016

Tangible Assets

Computer Equipment 6,640,080 362,694 - 7,002,773 396,218 7,398,992 6,354,769 464,346 - 6,819,116 389,424 7,208,539 190,452 285,310 - 190,452

Equipments 4,846,359 226,385 - 5,072,744 289,190 5,361,934 2,718,738 888,625 - 3,607,364 180,474 3,787,837 1,574,096 2,127,620 - 1,574,096

Furniture & Equipment 834,736 371,867 - 1,206,603 49,775 1,256,378 834,732 111,891 - 946,622 51,539 998,161 258,217 4 - 258,217

Leasehold Improvement 264,446 - - 264,446 15,781 280,227 264,450 - - 264,450 15,782 280,232 (5) (4) - (5)

12,585,620 960,946 - 13,546,567 750,964 14,297,531 10,172,690 1,464,862 - 11,637,552 637,218 12,274,770 2,022,761 2,412,930 - 2,022,761

Intangible Assets

Goodwill 183,712,199 - - 183,712,199 (37,965,053) 145,747,146 54,710,816 6,190,312 - 60,901,128 (10,030,668) 50,870,461 94,876,685 129,001,383 4,789,300 99,665,986

Software Package 317,287 - - 317,287 18,935 336,222 317,256 - - 317,256 18,933 336,189 33 31 - 33

Customer Intangibles - Other 207,294,948 - - 207,294,948 12,370,637 219,665,585 95,868,383 17,025,544 - 112,893,927 19,498,049 132,391,976 87,273,609 111,426,565 - 87,273,609

391,324,434 - - 391,324,434 (25,575,481) 365,748,953 150,896,456 23,215,856 - 174,112,311 9,486,314 183,598,626 182,150,328 240,427,979 4,789,300 186,939,628

TOTAL AS AT 31.03.2016 403,910,055 960,946 - 404,871,001 (24,824,517) 380,046,484 161,069,146 24,680,718 - 185,749,864 10,123,532 195,873,395 184,173,089 242,840,909 4,789,300 188,962,390

TOTAL AS AT 31.03.2015 306,464,277 447,863 - 306,912,140 27,974,691 294,870,898 99,641,069 22,243,340 - 121,884,408 16,216,751 154,566,402 185,027,732 206,800,675 2,169,740 187,197,471

NET BLOCK


NOTE 1 TO SCHEDULE 5 FORMING PART OF BALANCE SHEET

GROSS BLOCK DEPRECIATION

Financial Statements of Kurrent Media LLC for the Financial

Year ended 31.03.2016


AS AT

31.03.2016


SHAREHOLDERS' FUNDS

Share Capital 1 -

Reserves and Surplus 2 (7,905,629)

(7,905,629)

NON CURRENT LIABILITIES

Long Term Borrowings 3 54,261,882

Long Term Provisions 4 -

54,261,882

CURRENT LIABILITIES

Trade Payables 5 75,114,809

Other Current Liabilities 6 3,262,540

Short Term Provisions 7 -

78,377,349

124,733,602

ASSETS

NON CURRENT ASSETS

Fixed Assets 8

Tangible Assets 56,024

Intangible Assets 72,860,467

72,916,491

Investments 9 -

Deferred Tax Assets 10 35,963,400

Long Term Loans and Advances 11 7,656,815

116,536,706

CURRENT ASSETS

Inventories 12 -

Trade Receivables 13 8,080,256

Cash and Bank Balance 14 116,640

Short Loans and Advances 15 -

8,196,896

Profit & Loss Account -

MISCELLANEOUS EXPENDITURE

124,733,602

-

KURRENT MEDIA LLC

CONSOLIDATED BALANCE SHEET AS AT 31.03.2016

SCHEDULE

NO

SCHEDULE Year Ended NO. 31.03.2016

INCOME

Sales 16 1,954,585

Other Income 17 65,136

Total Revenue 2,019,721

EXPENDITURE

Direct Exp 18 -

Employee Benefits Expenses 19 76,023

Financial Expenses 20 4,857,549

Depreciation & Amortizations 21 4,008,588

Other Expenses 22 692,245

Total Expenses 9,634,406

PROFIT BEFORE TAX (7,614,685)

Provison for taxation -

Deferred Tax (935,600)

Minority Interest -

Dividend -

Extraordinary Item, net of tax -

(935,600)

NET PROFIT AFTER TAX AND EXTRAORDINARY ITEM (6,679,085)

Balance Brought ForwardBalance Carried Forward (6,679,085)

KURRENT MEDIA LLC

CONSOLIDATED PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31.03.2016


As At

31.03.2016

1 SHARE CAPITALShare Capital

Representing 100% ownership Interest - -


Foreign Currency Translation Reserve (96,392)

Securities Premium Reserves

As per the last Balance Sheet -

Add: Acquired under the scheme of amalgamation -

-

Profit & Loss A/c

As per last Balance Sheet (1,130,152)

Less: Depriciation written back -

(1,130,152)

Add : Profit for the Year (6,679,085)

(7,809,237) (7,905,629)

3 LONG TERM BORROWINGS

SECURED LOANS

Term Loan from Bank -

Term Loan from Others -

-

UNSECURED LOANS

From Others 54,261,882

From Holding Company -

Security Deposit -

54,261,882 54,261,882

4 LONG TERM PROVISIONSProvision for employees’ benefits. -

-

5 TRADE PAYABLES

Sundry Creditors 75,114,809 75,114,809

6 OTHER CURRENT LIABILITIES

Advance payments for which value still to be given -

Other Payables

- Statutory Dues 3,262,540

- Creditors against capital expenditure -

- Bank Overdraft - 3,262,540

7 SHORT TERM PROVISIONS

Provision for employees’ benefits. -

Provision made for Doubtful Debts - -

8 FIXED ASSETS (See Note 1)

Tangible Assets

Gross 1,122,460

Depreciation 1,066,436

56,024

Intangible Assets

Gross 133,073,908

Depreciation 60,213,441

SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016KURRENT MEDIA LLC

As At

31.03.2016

SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016KURRENT MEDIA LLC

72,860,467 72,916,491

9 INVESTMENTS

Long-term investments

Cyber Media Services Limited -

Cyber Media India LLC -

-


Deferred Tax Assets

- Disallowance under the Income Tax Act

Opening Balance 563,600

Add: During the year -

563,600

- Carry Forward Losses

Opening Balance 37,470,700

Add: During the year 804,200

38,274,900

TOTAL (A) 38,838,500


- Fixed Assets

Opening Balance 3,006,500

Add: During the year (131,400)

TOTAL (B) 2,875,100

TOTAL (A-B) 35,963,400

11 LONG TERM LOANS AND ADVANCES

Advance income tax 7,656,815 7,656,815

12 INVENTORIES

Inventories -

Work In Progress - -

13 SUNDRY DEBTORS

Unsecured

Debts- Outstanding for a period exceeding six months Considered

Good 8,080,256

Other Debts Considered Good - 8,080,256

14 CASH AND BANK BALANCES

Cash in hand -

Balances with Scheduled Banks In Current Accounts 116,640 116,640

15 SHORT TERM LOANS AND ADVANCES

Unsecured considered good -

Loan to Subsidiaries -

Loan to Holding Co. -

Advances - For Supply of goods and rendering of services -

Other Deposits -

Advance income tax - -

SCHEDULES TO THE PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31.03.2016

Year Ended31.03.2016

16 Sales

Sales 1,954,585

1,954,585

17 Other Income

Interest Income -

Other non-operating income -

Miscellaneous Income 65,136

Net gain/loss on foreign currency translation and transaction -

65,136

18 DIRECT EXPENSES

Cost of Materials consumed

Opening Stock -

Add : Purchases - -

Less : Closing Stock - -

19 EMPLOYEE BENEFITS EXPENSES

Salaries, Bonus and Allowances -

Contribution to Provident and Other Funds 76,023

Staff Welfare -

Staff Recruitment & Training -

76,023

20 FINANCIAL EXPENSES

Interest

Term Loans 4,825,531

Other Interest

Cash Credit Facilities -

Financial Charges 32,019

4,857,549

21 DEPRECIATION & AMORTIZATIONSDepreciation & Amortizations 4,008,588

4,008,588

22 OTHER EXPENSES

Electricity & Water -

Repair and Maintenance - Building -

Repair and Maintenance - Plant & Machinery -

Insurance -

Rates and Taxes 45,859

Miscellaneous Expenses -

Loss on exchange rate fluctuations -

Remuneration to Statutory Auditors 45,800

Legal and Professional Charges 96,938

Correspondence and Communications -

Travelling and Conveyance -

Rental -

Central & Apportioned Expense -

Bank Charges 17,075

Difference in Exchange- dr 3,184

other miscellaneous expenses 483,389

Vehicle Running and Maintenance -

692,245

(7,614,685)

Minority Interest -

Provision For Taxation (2,693,200)

Provision for Dividend -

Extraordinary Item, net of tax -

PBT (4,921,485)

KURRENT MEDIA LLC

NOTE 1 TO SCHEDULE

8- FIXED ASSETS

AS AT AS AT UPTO UPTO AS AT AS AT

DESCRIPTION 01.04.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2016 31.03.2015

Tangible Assets

Computer Equipment 1,088,024 - - 1,088,024 1,033,722 - - 1,033,722 54,302 54,302

Equipment 34,436 - - 34,436 32,714 - - 32,714 1,722 1,722

Furniture & Equipment - - - - - - - - - -

Total (A) 1,122,460 - - 1,122,460 1,066,436 - - 1,066,436 56,024 56,024

Intangible Assets

Software Package 171,763 - - 171,763 117,178 8,588 - 125,766 45,997 54,585

Commercial Rights 80,000,000 - - 80,000,000 56,087,675 4,000,000 - 60,087,675 19,912,325 23,912,325

Goodwill - 52,902,145 - 52,902,145 - - - - 52,902,145 -

Total (B) 80,171,763 52,902,145 - 133,073,908 56,204,853 4,008,588 - 60,213,441 72,860,467 23,966,910

Grand Total (A+B) 81,294,223 52,902,145 - 134,196,368 57,271,289 4,008,588 - 61,279,877 72,916,491 24,022,934

GROSS BLOCK DEPRECIATION NET BLOCK

NOTE 1 TO SCHEDULE 5 ANNEXED TO AND FORMING PART OF BALANCE SHEET

KURRENT MEDIA LLC

ADDITIONS DEDUCTIONS

FOR THE

YEAR

ADJUSTMENT

S

Documents

FINANCIAL STATEMENTS OF SUBSIDIARIES OF CYBER MEDIA … · 2019-10-28 · INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CYBER MEDIA RESEARCH & SERVICES LIMITED Report on the Standalone