Annual report 2016 17

ENRICHING AND EMPOWERING INDIA

At HT Media, our objective has always been to empower people with information and insight that enrich their lives. Our insightful information is unbiased, and enables our readers to make informed JOVPJLZ ^P[O H IYVHKLY WLYZWLJ[P]L >L LTWV^LY 0UKPH I` ZOHWPUN public opinion with our impartial news and views.

A GLIMPSE OF HT MEDIA /; 4LKPH PZ HTVUN 0UKPH»Z WYLMLYYLK TLKPH JVTWHUPLZ PU WYPU[ radio and digital segments. Our pivotal print businesses include º/PUK\Z[HU ;PTLZ» º/PUK\Z[HU» HUK º4PU[» 0U [OL KPNP[HS ZWHJL ^L manage multiple web portals. With FM Radio Stations ‘Fever’ and º9HKPV 5HZOH» ^L LUQV` H ZPNUPÄJHU[ WVZP[PVU PU [OL RL` THYRL[Z HT Media’s foray into education empowers and transforms the youth. Our ‘Bridge School of Management’ sets high standards for management studies, while ‘Studymate’ is a popular mode of tutorials for school students. Through information, education and entertainment, HT Media is committed to bring a positive change in the lives of its readers, listeners and students.

OUR BRANDS THAT SPEAK FOR US PRINT

DIGITAL

EDUCATION

HINDUSTAN TIMES

SHINE.COM

STUDYMATE

0UKPH»Z WYLMLYYLK ,UNSPZO newspaper; No.1 newspaper in Delhi-NCR and No.2 in Mumbai in terms of readership

Leading job portal connecting job-seekers and recruiters

An education initiative in Delhi-NCR for supplementary [\[VYPHSZ MVY JSHZZLZ =000 ?00

MINT A business daily, specialising in insightful coverage of business and economy; distributes a weekly newspaper ‘MintAsia’ in Singapore and Kuala Lumpur

HINDUSTAN The leading Hindi newspaper of 0UKPH 5V YLHKLYZOPW PU )POHY Jharkhand and Uttarakhand and No. 2 in Uttar Pradesh and Delhi

DIGITAL QUOTIENT Mobile marketing and engagement solution provider across mobile, social media and internet space

BRIDGE

English news website

World-class management school offering Business Management/ Predictive Business Analytics programmes at its centres located in Gurgaon and Noida

LIVEMINT.COM

HT CAMPUS

Business news website

An education portal that offers comprehensive information on courses offered in colleges/ institutions in the country

HINDUSTANTIMES.COM

LIVEHINDUSTAN.COM Hindi news website

DESIMARTINI.COM HT CITY & HT CAFE Daily supplements in HT Delhi and HT Mumbai, respectively; covering entertainment, city, campus and lifestyle

Movie reviews and ratings site

RADIO

OTHERS

FEVER

HT LEADERSHIP SUMMIT

Leading FM radio station, operating in Delhi, Mumbai, Bengaluru, Kolkata, Chennai, Hyderabad and seven cities of Uttar Pradesh

;OL MVY\T ^OLYL 0U[LYUH[PVUHS HUK 0UKPHU ]PZPVUHYPLZ SH` V\[ [OLPY blueprint for the future

BRUNCH The Sunday magazine supplement with Hindustan Times that covers travel, music, celebrities, food and gadgets, among others

NANDAN AND KADAMBINI Legacy Hindi magazines for children (Nandan) and family reading (Kadambini)

RADIO NASHA The brand-new FM station in Delhi and Mumbai, playing retro music

2

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

QUICK FACTS

215 MN

51 MN

Pageviews across digital properties in March 2017

NO. 1

<UPX\L \ZLYZ HJYVZZ HSS KPNP[HS properties in March 2017

HT readership ranking in Delhi-NCR region

350+

NO. 2

Weeks of leadership by Fever FM in Delhi

Hindustan’s readership ranking in Bihar, Jharkhand and Uttarakhand

NO. 1 Radio Nasha’s rank in Delhi

4,000+ Students studying with Studymate

FINANCIAL PERFORMANCE TOTAL INCOME

(` In Cr.)

EBITDA (Before Exceptional items)

FY 17

2,682

FY 17

FY 16

2,658

FY 16

2,457

FY 15

2,363

FY 14 FY 13 4 yr CAGR

6%

436

FY 15

4 yr CAGR

475 376

9%

(` In Cr.) 2,232

FY 17

2,082

FY 16

1,902

FY 15

FY 13

479

FY 13

NET WORTH

FY 14

528

FY 14

2,142

(` In Cr.)

1,745 1,596

ANNUAL REPORT 2016-17

3

CHAIRPERSON’S MESSAGE DEAR SHAREHOLDERS,

0UKPH YLTHPULK VUL VM [OL ^VYSK»Z MHZ[LZ[ growing economy in 2016-17. Despite headwinds and short-term disruptions, the country’s economy grew 7.1% last year. 0[ YLTHPUZ H WYLMLYYLK KLZ[PUH[PVU MVY MVYLPNU investment, ahead of China and the US for the second successive year, according [V -+0 0U[LSSPNLUJL H \UP[ VM [OL -PUHUJPHS Times.

Not surprisingly, one of our main focus areas in FY 2016-17 was to identify a digital strategy to build a news media company of future, and develop the capabilities YLX\PYLK [V ILJVTL VUL

4

HT MEDIA LIMITED

;OL `LHY ^HZ L]LU TVYL ZPNUPÄJHU[ ILJH\ZL P[ ZH^ [OL 0UKPHU government take steps towards new ÄZJHS HUK [H_ WVSPJPLZ Z\WWVY[LK I` a more robust statistical framework to report economic numbers. Some of these new measures have since been implemented, most notably, the \UPÄLK .VVKZ HUK :LY]PJLZ ;H_ MYVT 1st July, 2017.

areas in FY 2016-17 was to identify a digital strategy to build a news media company of future, and KL]LSVW [OL JHWHIPSP[PLZ YLX\PYLK [V ILJVTL VUL 0U -@ we created a state-of-the-art integrated newsroom and last year, our three news brands leveraged [OPZ UL^ZYVVT [V \W [OL X\HSP[` HUK relevance of their digital offerings.

0U 0UKPH»Z TLKPH HUK entertainment industry grew by 9.1%, powered by growing demand for entertainment and knowledge in HU L_WHUKPUN LJVUVT` ;OL 0UKPHU digital media ecosystem has become especially vibrant, with non-linear TV offerings competing against traditional broadcasters, and KPNP[HS VUS` UL^Z Z[HY[ \WZ ÄNO[PUN it out with established media companies. At stake are relevance, salience, and of course, revenues.

Our website hindustantimes.com ended the year doing around 100 million monthly page views and TPSSPVU TVU[OS` \UPX\L ]PZP[VYZ while livemint.com became one of the leading destinations for business news in the country with around 30 million monthly page views and TPSSPVU TVU[OS` \UPX\L ]PZP[VYZ 0U [OL LU[LY[HPUTLU[ ZLNTLU[ desimartini.com became the No.2 movie entertainment content website in the country.

NEW MEDIA, AND OLD

This focus on digital hasn’t come at the cost of our print business, which continues to remain one of our strengths. We have worked to ensure that our three newspapers are PU Z[LW ^P[O [OL UL^ 0UKPH >L OH]L HSZV THKL ZPNUPÄJHU[ PU]LZ[TLU[Z in

A growing economy, rising consumption, and the emergence of a thriving digital ecosystem WYLZLU[ ZPNUPÄJHU[ VWWVY[\UP[PLZ to a company such as yours. Not surprisingly, one of our main focus

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

We will continue to be innovative with our print offerings, grow our digital footprint, including with digital-only products, and expand our radio business.

[YHPUPUN V\Y QV\YUHSPZ[Z 6\Y ÅHNZOPW newspaper Hindustan Times continued to maintain its strong position in the English newspaper segment, including in the country’s two biggest markets of Delhi and Mumbai. Mint remains 0UKPH»Z ZLJVUK ^PKLS` YLHK I\ZPULZZ newspaper and continues to win national and international awards for its work. Our Hindi newspaper Hindustan is the leader in Uttarakhand, Bihar and Jharkhand, and a strong second in Uttar Pradesh and Delhi. 0U -@ ^L Z[YLUN[OLULK V\Y radio operations by launching FM Radio stations in seven cities in Uttar Pradesh and Hyderabad in HKKP[PVU [V ZLJVUK MYLX\LUJ` PU +LSOP and Mumbai, which were launched last year. Fever FM continues to LUQV` H ZPNUPÄJHU[ WVZP[PVU PU [OL radio markets where it operates. Radio Nasha has gained immense popularity, both in Delhi and Mumbai, since its launch.

events such as the Hindustan Times Leadership Summit and Hindustan Shikhar Samagam provide a platform for thought leaders to discuss and deliberate issues of relevance to the country and even the world. At another, our thematic and industryfocused events such as the 4PU[ 40; ,T[LJO *VUMLYLUJL HUK the Mint Annual Banking Conclave deepen our engagement with key interest groups. And at still another, our regular community outreach and socio-economic development programmes nurture our deep-rooted bond with society.

footprint, including with digital-only products, and expand our radio business. Our performance so far, and our initiatives going ahead, are both KYP]LU I` WLVWSL 0 [OHUR T` colleagues on the Board of Directors for their support and guidance, and our employees for their relentless drive to take HT Media to the next SL]LS 0 ^V\SK HSZV SPRL [V JVU[PU\L [V thank our shareholders and vendors for their continued support and partnership. Thanking you,

POWERING AHEAD

REACHING OUT

As we continue our journey, we will always align ourselves with our core values and the preferences of the UL^ 0UKPH

Our effort to engage with audiences and society at large extends into [OL VMÅPUL KVTHPU ([ VUL SL]LS

We will continue to be innovative with our print offerings, grow our digital

Shobhana Bhartia Chairperson and Editorial Director

ANNUAL REPORT 2016-17

5

MESSAGE FROM THE CEO DEAR FRIENDS,

2016-17 was a year of structural change for the economy and your Company. Our policymakers pushed through initiatives aimed at the medium-to-long-term, even as they sought to ensure the country remained VU P[Z J\YYLU[ NYV^[O [YHQLJ[VY` ;OL ILULĂ„[Z of these initiatives will become evident over [PTL I\[ [OLYL PZ UV KV\I[ [OL` HYL YLX\PYLK [V I\PSK [OL 0UKPH VM M\[\YL

At HT Media, our focus in 2016-17 was similar to consolidate our gains over the past few years, ensure our costs are in alignment with the realities of the marketplace, and build a digitally-oriented company of the future.

0U [OL KPNP[HS ZWHJL [OL *VTWHU` OHZ THKL ZPNUPĂ„JHU[ progress by increasing revenue from ` 140 crore in FY 2015-16 to ` 151.4 crore in FY 2016-17. Desimartini.com witnessed growth of over 50% in visits and over 65% in page views, vis-a-vis the previous year. Shine.com registered revenue growth of 30%.

6

HT MEDIA LIMITED

Expectedly, given the pace of digital transformation of the media landscape, our print business came under pressure, even as our new businesses did well. Our new radio stations are up and running (and also generating revenue). The revenue and VWLYH[PUN WYVÄ[ VM V\Y LU[PYL YHKPV business has substantially grown over the previous year. Additionally, our digital businesses continue to grow. The transition in the marketplace was evident in our numbers – HT Media’s VWLYH[PUN WYVÄ[ ,)0;+( NYL^ in 2016-17 over the previous year, from ` 479 crore to ` 528 crore, even as consolidated revenue grew by just 1% to ` 2,682 crore.

SEGMENT PERFORMANCES 0U WYPU[ /PUK\Z[HU ;PTLZ /; continued to maintain its leadership in the Delhi-National Capital Region. 0[ YLTHPULK [OL ZLJVUK TVZ[ YLHK newspaper in Mumbai. Hindustan, 0UKPHÂťZ SLHKPUN /PUKP KHPS` PZ H SLHKLY in Bihar, Jharkhand and Uttarakhand and No. 2 in Uttar Pradesh and Delhi. 0U [OL KPNP[HS ZWHJL [OL *VTWHU` OHZ THKL ZPNUPĂ„JHU[ WYVNYLZZ I` increasing revenue from ` 140 crore in FY 2015-16 to ` 151.4 crore in FY 2016-17. Desimartini.com witnessed growth of over 50% in visits and over 65% in page views, vis-a-vis the previous year. Shine.com registered revenue growth of 30%. Our radio business crossed the ` 150 crore revenue mark, growing 36% over the previous year. The revenue growth was driven by the successful and early launch of Z[H[PVUZ HJX\PYLK \UKLY WOHZL 000 license auctions.

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

Our efforts through the year have left us well placed in our UL^ I\ZPULZZLZ 0U [OL `LHY ahead, we will ensure that our print business continues to deliver value, our radio business consolidates its leadership position, and our digital businesses continue to grow.

KEY INITIATIVES 6\Y WYPVYP[` PU [OL SHZ[ Ă„UHUJPHS year was the philosophy of ‘digital Ă„YZ[Âť >L Z\JJLZZM\SS` YVSSLK V\[ V\Y integrated newsroom, massively enhancing the digital output. The newsroom is powered by world-class content management systems, and partnerships with digital giants, such as Google and Facebook. The infrastructure we have created, HUK [OL JHWHIPSP[PLZ ^L OH]L HJX\PYLK HUK JVU[PU\L [V HJX\PYL OH]L THKL our newsroom processes more LMĂ„JPLU[ LUHISPUN \Z [V VMMLY UL^Z (often in real-time), views, analysis and videos. They have also enhanced our data analytics capabilities – helping us understand our audience better and serve both, them and our advertisers.

makeover in the course of the year. They are optimised for mobile, which is rapidly emerging as the medium of JOVPJL PU 0UKPH Our efforts through the year have left us well placed in our new businesses. 0U [OL `LHY HOLHK ^L ^PSS LUZ\YL that our print business continues to deliver value, our radio business consolidates its leadership position, and our digital businesses continue to grow. With warm wishes,

Rajiv Verma *OPLM ,_LJ\[P]L 6MĂ„JLY

On the technology front, the organisation introduced a sales automation system for HT, Hindustan, Mint and the radio business to serve advertisers better. All our content ^LIZP[LZ YLJLP]LK H ZPNUPĂ„JHU[

ANNUAL REPORT 2016-17

7

CONNECTING WITH OUR READERS, DIGITALLY As readership evolves from print to digital media, with a robust WLUL[YH[PVU VM TVIPSL PU[LYUL[ HUK ZTHY[WOVULZ 0UKPH ^P[ULZZLZ a surge in alternative screens for media consumption. To be in step ^P[O [OPZ KPNP[HS KYP]L ^L OH]L THKL ZPNUPÄJHU[ KL]LSVWTLU[Z PU the digital front.

8

HT MEDIA LIMITED

A

01-15

About HT Media

SIGNIFICANT DEVELOPMENTS IN THE DIGITAL FRONT ;OL UL^ KPNP[HS ÄYZ[ UL^ZYVVT ^VYR ÅV^ OHZ Z\JJLLKLK PU ZPNUPÄJHU[S` LUOHUJPUN [OL Company’s digital output Eidos and Drupal content management systems have been put in place to support stronger digital products, and greater synergy of content between print and digital All content sites were revamped ^P[O ZPNUPÄJHU[S` IL[[LY <ZLY 0U[LYMHJL <ZLY ,_WLYPLUJL <0 <? 0[ OHZ SLK [V HU PUJYLHZLK consumer preference, stickiness and better site performances /PUK\Z[HU[PTLZ JVT [OL ÅHNZOPW website, has crossed the landmark of 100 million monthly page views Strategic alliances with Google, Facebook and UC News have HJJLSLYH[LK \ZLY HJX\PZP[PVU HUK enhanced content consumption

B

16-58

Statutory Reports

KEY DRIVERS OF DIGITAL GROWTH Synergy between Print and Digital The integrated digital newsroom has won several international awards for its rich digital-native storytelling. Stories are uploaded all day and the newsroom works in line with 24x7 content consumption cycles. The content rolled out is optimised for search engines and social media, keeping in mind HT’s audiences and the devices they use. Our everyday endeavour has resulted PU [OL ILNPUUPUN VM H TVIPSL ÄYZ[ thinking. Today, data and analytics have become an integral part of the newsroom culture and conversation.

C

59-290

Financial Statements

The year ahead Going forward, growth will be enabled by outstanding storytelling and continued investments in X\HSP[` QV\YUHSPZT ;OPZ WYVNYLZZ will be backed by strong brands, investment in product & technology and greater synergies between HT brands. Delivering successful new products and verticals, facilitated by an excellent distribution network to a growing internet audience base across all formats and devices, will pave the way for future.

Strategic distribution partnership Strategic partnerships with companies like Facebook and Google OH]L ZPNUPĂ„JHU[S` KYP]LU [OL [YHJ[PVU on websites. Features such as instant articles, Google AMP and others, bring a host of visitors with higher WHNL ]PL^Z HUK TVIPSL ZLHYJO [YHMĂ„J

The digital content services business has grown by 30%, buoyed by new partnerships

AMPLIFIED PAGE VIEWS Page views have grown by more than four times in the last 24 months to clock 215 million in March 2017

ANNUAL REPORT 2016-17

9

GROWING TO BE A HOLISTIC MEDIA HOUSE The events organised under the HT Media banner, propel the Company’s commitment to become a holistic media conglomerate. We strive to inform, educate and entertain the audience through ]HYPLK MVYTH[Z PUJS\KPUN L]LU[Z ;OLZL L]LU[Z OH]L ILULÄ[[LK the participants, audiences and our partners. Moreover, they have strengthened the brand name, and become a steady stream of revenue.

10

HT MEDIA LIMITED

A

01-15

About HT Media

HINDUSTAN TIMES LEADERSHIP SUMMIT The Hindustan Times Leadership Summit was initiated as an annual conference in 2003. Over the years, it has grown in representation and credibility into a powerful forum, bringing together leaders from different walks of life and encouraging interactions and debates. The Summit is a congregation of leaders and opinion makers of global stature from various walks of life. ;VW 0UKPHU WVSP[PJHS SLHKLYZ SPRL former President Mr. Pranab Mukherjee, Prime Minister Mr. Narendra Modi, former Prime Minister Dr. Manmohan Singh have expressed their views at the Summit. Thought leaders from the international arena, former US President Mr. George W. Bush, former UK Prime Minister Mr. Tony Blair, Dr. Condoleezza Rice, General Pervez Musharraf, and Academy Award winning Hollywood actor Ms. Nicole Kidman have also graced the Summit with their presence and enriched the podium with their views.

B

16-58

Statutory Reports

C

59-290

Financial Statements

HINDUSTAN SHIKHAR SAMAGAM Hindustan Media Ventures Limited hosted its second edition of Hindustan Shikhar Samagam in November 2016 in Lucknow. The Samagam featured eminent speakers, including former Uttar Pradesh Chief Minister Mr. Akhilesh Yadav, BJP President Mr. Amit Shah, former Chief of the Army Staff General Bikram Singh, Baba Ramdev, Mr. Hrithik Roshan and Mr. Raj Babbar. They all came together to deliberate on the conclave’s theme – ‘Badalte Hindustan Ki Buland Awaaz’. The Samagam generated a huge buzz around the entire Hindi Belt, putting Hindustan in a strong thought leadership position.

HINDUSTAN TIMES LEADERSHIP SUMMIT, 2016 witnessed Finance Minister Mr. Arun Jaitley, former Prime Minister of Britain Mr. David Cameron, 4Y :HJOPU ;LUK\SRHY HUK 4Y (TP[HIO )HJOJOHU ZWLHR VU º;OL *OHUNL 0UKPH 5LLKZ»

ANNUAL REPORT 2016-17

11

NEWS STORIES THAT MADE SIGNIFICANT IMPACT At HT, one of the highlights of 2016-17 has been the editorial [YHUZP[PVU [V [OL WOPSVZVWO` VM KPNP[HS ÄYZ[ *VUZVSPKH[PVU VM processes ensured better news planning and wider coverage of UL^Z MYVT HJYVZZ 0UKPH HZ ^LSS HZ [OL ^VYSK ;OYV\NOV\[ [OL `LHY HT produced a steady stream of high impact, exclusive stories and series that covered a broad swathe of our social, political and economic lives.

12

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

HOMELESS IN DELHI

STATE OF SCHOOLS

Our reporters spent 20 nights tracking the homeless in Delhi. They unearthed the tale of an elderly woman, who travelled 400 kms to Delhi, only to beg, so she could repay her 12-year-old debt. HT wrote about homeless women getting molested I` JVWZ HUK KY\N HKKPJ[Z ÄNO[PUN a losing battle. Samaritans wanted to donate money to the homeless and HT put them in touch with the right authorities. These stories had a strong digital component. The videos shot on mobile phones clocked more than two million views.

0U H Ä]L WHY[ ZLYPLZ /; SPULK \W [OL issues of state-run schools that the NV]LYUTLU[ ULLKLK [V Ä_ ILMVYL the mega parents teacher meeting in July 2016. The issues highlighted, ranged from poor infrastructure, including overcrowded classrooms, to lack of teachers, furniture & books, to dirty toilets and no potable water. Moreover, students faced rowdy classmates, lack of continuous and comprehensive evaluation and low learning levels.

C

59-290

Financial Statements

LET’S TALK ABOUT RAPE Several celebrities, such as actor/ director Farhan Akhtar and boxer Mary Kom wrote sensitive open letters to their children, talking about ‘rape’. The seven-part series was picked up by newspapers, TV channels and digital platforms, leading to high impact and acclaim for HT. We embarked on an in-depth analysis of this problem that plagues 0UKPH»Z JHWP[HS ^OH[ ULLKZ [V IL KVUL [V ÄNO[ P[ HUK IYPUN HIV\[ [OL JOHUNL in mindset needed to combat it.

NEW STANDARDS OF JOURNALISM Our text and data stories, visual arts, infographics, videos, photos and social media projects KPZWSH`LK PUUV]H[PVU \UZLLU PU 0UKPHU QV\YUHSPZT

ANNUAL REPORT 2016-17

13

PROGRESSING TOWARDS A BETTER SOCIETY HT Media is committed to bring a positive impact on communities, cultures, societies and environments it operates in. The Company supports multiple NGOs to initiate extensive social change, which ^PSS HJJLSLYH[L [OL ZVJPV LJVUVTPJ KL]LSVWTLU[ VM 0UKPH

14

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

HINDUSTAN TIMES PAATHSHALA HT Media has a deep commitment PU ^VYRPUN MVY [OL JH\ZL VM X\HSP[` education for youth. The Company actively promotes education for underprivileged children through various initiatives undertaken and executed with the support of trusted NGO partners. 0U[LNYH[LK *VTT\UP[` +L]LSVWTLU[ – With the support of an NGO, community development programmes were successfully executed for women and children in 4 sub-regions of Delhi NCR - Tughlakabad, Lakkarpur, Mehtru ka dera and Noida. This programme ILULÄ[LK V]LY JOPSKYLU ;OL focus areas of this community service consisted of the following:

a) Education of underprivileged children This was divided into multiple programmes such as Early Childhood Care and Development, Primary Education and Accelerated Learning Centre.

b) Skill and Entrepreneurship Development *LY[PĂ„LK [YHPUPUN JV\YZLZ ^LYL Y\U for women and unemployed youth of marginalised communities. The objective was to create sustainable income in the family to free children from child labour and enable them to attend school. Every Last Child in School This project aimed to establish HUK Y\U SLHYUPUN JLU[YLZ HUK LX\PW children with school readiness skills. 0[ ^HZ YVSSLK V\[ PU 4\TIHPÂťZ SHYNLZ[ slum, Deonar, and ensured basic education for children in the age group of 6-14 years, which enabled them to enrol back into schools. Over a period of seven months, the project ZH^ H [V[HS VM RPKZ ILULĂ„[PUN

from the project. This was achieved I` ZL[[PUN \W Ă„]L JSHZZYVVTZ HJYVZZ the targeted geography, spreading the message through children leaders, who convinced other kids and parents to join the programme. 0[ HSZV ILULĂ„[LK H [V[HS VM adults, including school teachers, anganwadi workers and parents of enrolled children. Balwadis 0[ PZ H WYL ZJOVVS Y\U for economically weaker sections of society. We supported the Balwadi programme across 200 units in +LSOP 0[ MVJ\ZLK VU WYVTV[PUN early-childhood education of over ILULĂ„JPHYPLZ HUK KL]LSVWLK foundation skills among children. Classroom activities were a combination of learning with play and an integrated approach that addressed the developmental needs of these children.

with excellent facilities to develop the skills for leveraging employment opportunities. The participants progress was tracked throughout the year, which culminated into their placements on course completion. Protection of National Heritage HT Media sponsored the construction of a museum, ‘Gallery of Hope’ in Amritsar, which displays letters, artefacts, stories and collectibles of the 1947 Partition. This will serve as a memory of the Partition for generations to come. The museum was inaugurated on October 24, 2016 and more than 25,000 visitors have already visited the same, demonstrating its emotive appeal.

Vocational training - HT Media sponsored 10 girls for vocational training courses in tailoring, beautician and computer science, at a state-of-the-art training institute in +LOYHK\U ;OPZ PUZ[P[\[L PZ LX\PWWLK ANNUAL REPORT 2016-17

15

MANAGEMENT DISCUSSION AND ANALYSIS GLOBAL ECONOMY The global economy is moving towards a path of encouraging growth, after a sustained period of volatility. According to the International Monetary Fund (IMF), global growth is expected to rise from 3.1% in CY 2016 to 3.5% in CY 2017 and 3.6% in CY 2018. +\YPUN [OL ZLJVUK OHSM VM *@ <: ÄYTZ NYL^ TVYL JVUÄKLU[ HS[OV\NO [OL <: LJVUVT` YLJVYKLK H SV^LY rate of unemployment. The UK also witnessed growth in domestic demand following Brexit.

The FY 2016-17 was characterised by a variety of institutional reforms, such as the implementation of the Insolvency and Bankruptcy Code, creation of Monetary Policy Committee, redesigning of the Fiscal Responsibility and Budget Management (FRBM) framework, passage of ;OL .VVKZ HUK :LY]PJLZ ;H_ .:; HUK ÄUHSS` [OL WVSPJ` thrust towards a less-cash formal economy. In addition, the [YLUK VM ILUPNU PUÃ…H[PVU HUK JVU[PU\LK PTWYV]LTLU[ PU [^PU KLÄJP[Z M\Y[OLY IVSZ[LYLK [OL JV\U[Y`»Z THJYV LJVUVTPJ parameters.

OUTLOOK The Eurozone had some good news to share with the world HM[LY H Z\Z[HPULK WLYPVK VM SV^ NYV^[O HUK KLÃ…H[PVUHY` tendencies. Robust domestic demand pushed recovery up a notch in the second half of CY 2016, belying earlier expectations of a slowdown due to geopolitical uncertainties. If these tailwinds continue, the global economy is expected to pick up steam in the medium term. A single downside to growth, going forward, is the rising trend towards protectionism, which may impact global trade.

India’s GDP is expected to continue to grow above 7% while in the long term, both demonetisation and GST are likely to provide a boost to the Country’s GDP. In addition, long-term consumption growth will be driven by major factors: government reforms across all sectors of the LJVUVT`" SV^ PU[LYLZ[ YH[LZ" ILUPNU PUÅH[PVU" MH]V\YHISL demographics (half of the population is below the age of 35), and an expanding addressable market size (India now has 50 large consumption hubs).

At the other end of the spectrum are emerging markets and developing economies. These economies now account for over 75% of global growth in output and consumption, almost double the share of just two decades ago. According [V [OL 04- [OL ZPNUPÄJHU[ PUJVTL NHWZ PU [OLZL LJVUVTPLZ ]PZ n ]PZ [OVZL PU HK]HUJLK LJVUVTPLZ Z\NNLZ[ ZPNUPÄJHU[ room for growth. Growth patterns in these economies are not uniform, but the overall picture is one of cautious optimism.

Despite temporary hardships for the economy, demonetisation has the potential to generate long-term ILULÄ[Z Z\JO HZ NYLH[LY KPNP[HSPZH[PVU [YHUZWHYLUJ` HUK formalisation of the economy. GST also marks a radical transformation in the indirect tax structure. It will unify fragmented Indian markets under a uniform tax framework and ensure better tax compliance. These initiatives will pave the way for a higher and cleaner GDP, going forward.

INDUSTRY OVERVIEW INDIAN ECONOMY India’s GDP grew by 7.1% in FY 2016-17, owing to robust macroeconomic stability, amid several headwinds. The country has recently emerged as the world’s sixth largest manufacturing country. Emerging urban clusters (urban Bharat) are driving this economic momentum. The result is that more consumers with higher disposable income are helping drive India’s economic potential. The country’s economic prospects appear optimistic with policymakers creating enablers for strong and sustainable growth for the medium to long term.

3.5%

ACCORDING TO THE IMF, GLOBAL GROWTH IS EXPECTED TO TOUCH 3.5% IN CY 2017 AND 3.6% IN CY 2018.

FY – Financial Year CY – Calendar Year

16

HT MEDIA LIMITED

CY 2016 saw a mixed bag of outcomes for the Indian Media and Entertainment (M&E) industry. The expansion of the digital ecosystem opened up new avenues of consumption and revenue earning options for citizens and entrepreneurs respectively. India’s M&E industry grew at 9.1% in CY 2016, backed by 11.2% growth in advertising revenues. (Source: KPMG India – FICCI, Indian Media and Entertainment Industry Report, 2017). The progress of the industry was based on strong economic fundamentals and a steady growth in domestic consumption. Rural markets THE COUNTRY’S ECONOMIC PROSPECTS APPEAR OPTIMISTIC WITH POLICYMAKERS CREATING ENABLERS FOR STRONG AND SUSTAINABLE GROWTH FOR THE MEDIUM TO LONG TERM.

A

01-15

B

About HT Media

16-58

59-290

C

Statutory Reports

Financial Statements

HSZV ZPNUPÄJHU[S` JVU[YPI\[LK HJYVZZ RL` ZLNTLU[Z 0TWVY[HU[ JVU[YPI\[VYZ MVY [OL NYV^[O VM [OL 4 , PUK\Z[Y` HYL! a)

More informed population below 30 years of age

b)

Improved advertising revenues

c)

Increased digitisation of media

d)

Increased internet usage, making it a preferred choice as an entertainment medium

Going forward, the future of the M&E industry is dependent on the expansion of digital avenues. This is expected to bridge the content consumption gap across socio-economic classes and categories.

INDIA’S MEDIA AND ENTERTAINMENT INDUSTRY: SIZE Overall industry size (For calendar years)

2011

2012

2013

2014

2015

2016

(` in billion) Growth in 2016 over 2015

TV Print Films Radio Music OOH Animation and VFX Gaming Digital Advertising Total

329.0 208.8 92.9 11.5 9.0 17.8 31.0 13.0 15.4 728.4

370.1 224.1 112.4 12.7 10.6 18.2 35.3 15.3 21.7 821.0

417.2 243.1 125.3 14.6 9.6 19.3 39.7 19.2 30.1 918.1

474.9 263.4 126.4 17.2 9.8 22.0 44.9 23.5 43.5 1,025.5

542.2 283.4 138.2 19.8 10.8 24.4 51.1 26.5 60.1 1,156.5

588.3 303.3 142.3 22.7 12.2 26.1 59.5 30.8 76.9 1,262.1

8.6% 7.0% 3.0% 14.6% 13.0% 7.0% 16.4% 16.2% 28.0% 9.1%

Source: KPMG in India’s analysis and estimates, 2016–17

PRINT India’s print industry saw major volatility during the year. Print continued to experience a slow growth rate of 7% in CY 2016 as English language newspapers faced competition from the rise in consumption of digital content. Regional language newspapers drove the wagon for Indian print industry with a growth of 9.4%, followed by Hindi and English at 8.3% and 3.7%, respectively at an overall level. The print industry in India continues to grow, riding on the back of demographic and socio-economic factors, rising literacy levels, improved penetration and hyper-localisation of news.

There are over 16,000 newspapers and about 94,000 periodicals listed with RNI, an increase of nearly 5,400 publications as on March 31, 2016.

ADVERTISING IN PRINT The readership of the print medium is increasing at a slower pace with the global expansion of digital medium. As a YLZ\S[ HK]LY[PZLYZ HYL YLZO\MÅPUN [OLPY ZWLUKPUN I\KNL[Z HZ readership base changes. Regional and Hindi newspapers are better positioned with a share of nearly 65% of the overall ad spend in CY 2016 and 2X growth rate over the ,UNSPZO UL^ZWHWLYZ V]LY [OL SHZ[ Ä]L `LHYZ

PRINT MEDIA LANGUAGE MARKET MIX Languages

English Advertising Circulation Hindi Advertising Circulation Other Regional Languages Advertising Circulation Total Advertising print market

2011

2012

2013

2014

2015

2016

83.5 57.2 26.3 62.3 40.6 21.7 63.0 41.6 21.4 139.4

86.5 59.4 27.1 68.3 44.5 23.8 69.3 45.7 23.6 149.6

91.5 62.5 29.0 75.5 49.5 26.0 76.2 50.6 25.6 162.6

96.2 65.5 30.7 83.5 54.4 29.1 83.7 56.5 27.2 176.4

100.9 68.6 32.3 91.3 58.8 32.5 91.2 61.9 29.3 189.3

104.6 71.0 33.6 98.8 63.0 35.8 99.9 67.3 32.6 201.3

(` in billion) Growth in CAGR % 2016 2011-2016 3.8% 3.5% 4.0% 8.7% 7.1% 10.2% 10.0% 8.7% 11.3% 6.3%

4.7% 4.4% 5.0% 9.9% 9.2% 10.5% 9.5% 10.1% 8.8% 7.6%

Source: KPMG in India’s analysis and estimates, 2016–17

ANNUAL REPORT 2016-17

17

About two-third of the print income encompasses advertising revenues. Advertisers now increasingly prefer local newspapers, as these provide better opportunities to directly connect with the readers in Tier II and Tier III cities.

Digital advertisement spend (` in billion) 350 294.48

300 226.52

250

India has gone through a major demographic change in the SHZ[ ML^ KLJHKLZ ;OLYL OHZ ILLU H ZPNUPÄJHU[ NYV^[O PU the literacy level across states, including literacy among women. According to the data of Census 2011, India’s literacy rate stands at 74%, with rural literacy rate at 68.9% HUK \YIHU SP[LYHJ` YH[L H[ ;OPZ OHZ ZPNUPÄJHU[S` contributed to the growth in readership of newspapers. The fact that Indian newspapers are cheaper vis-à -vis newspapers anywhere in the developed world, and the low newspaper distribution cost, also facilitate growth in penetration.

Regional Newspapers and Hyper-localisation The diverse cultures and languages in the country ensure a strong depth in regional language readership. Vernacular newspaper covers more local news and serves as a medium to express grievances and aspirations of its readers. Moreover, localisation has led to the publishing of multi-edition newspapers, combining national content with regional news and expanding their content diversity with supplements. This hyperlocalisation has helped in adding more local advertisers to the overall pie.

Technology and Efficient Distribution Chain Availability of good quality newsprint, advanced printing technology and equipment has made growth of vernacular newspapers commercially viable. This is leading to the constant expansion of newspapers even into small cities and towns. India’s newspaper distribution chain is unique and multi-tiered. Newspapers are sold through an extensive network of agents and vendors who offer door-to-door delivery services to the readers. Digital Digital advertising continued its high growth trajectory with 28% growth in CY 2016, to reach 15% share in overall advertising revenues. With the government’s drive towards KPNP[HSPZH[PVU KPNP[HS HK]LY[PZPUN PZ SPRLS` [V ZLL ZPNUPÄJHU[ growth. In CY 2016, digital advertising contributed ` 76.9 billion; and is expected to grow at a rapid pace with a CAGR of 31% and crossing ` 294.5 billion by 2021. Mobile advertisement is also expected to grow from ` 16.9 billion in CY 2016 to reach ` 132 billion in CY 2021 at 50.9% CAGR.

` billion

KEY GROWTH DRIVERS OF PRINT MEDIA Change in demography and increase in penetration

174.25

200 134.03

150 100

76.92

101.54

50 0

2016

2017

2018

2019

2020

2021

Source: KPMG in India’s analysis and estimates, 2017

As digital infrastructure continues to develop and data costs go down, digital consumption is likely to be more frequent and more mainstream. The robust penetration of mobile internet and smartphone has provided a surge to an alternative screen for media consumption in India. The increasing competition among telecommunication companies to offer 4G services and their price wars have resulted in data tariff reduction. These have encouraged users to interact on digital platforms. The digital shift is driven by changing preferences of consumers. The Indian consumers are craving for content; and the need is for engaging on-demand content. Radio Radio recorded a 14.5% growth in CY 2016. It is now a ` 22.6 billion industry, led by volume enhancements in small cities and a partial roll out in Batch I stations of FM Radio (Phase III) license auctions. However, the industry continues to face some challenges: • •

Weak Batch II auctions of Phase III licenses Delay in making operational, majority of Batch I stations However, radio is expected to reach a CAGR of 16.1% and emerge as the fastest growing traditional medium over the next 5 years. Factors such as new stations becoming operational and introduction of new genres will be instrumental to the success of radio.

Size of the radio industry

(` in billion)

CAGR = 14.54%

22.67 19.80

12.70

2012

14.60

2013

17.20

2014

2015

2016

Year on year analysis of the radio industry size Source: KPMG in India industry discussion and analysis

18

HT MEDIA LIMITED

A

01-15

About HT Media

Education India’s education sector is critical to make India’s billionplus population future-ready and truly global. The sector is divided into core and non-core segments. The core group consists of Primary, Secondary and Higher Education segments, while the non-core segment comprises Pre-schools, vocational training and coaching institutes. (JJVYKPUN [V H YLWVY[ I` THUHNLTLU[ JVUZ\S[PUN ÄYT Technopak, the value of India’s education market is worth $100 billion currently, while the digital or e-learning market is estimated at $2 billion. Digital education is estimated to reach $5.7 billion by 2020 as the number of internet users is on a steep rise. India’s internet user base is estimated to reach 550 million by 2020 with an approximately 40% penetration. Opportunities and Threats A digital revolution is sweeping across India, and the future of the country’s Media and Entertainment (M&E) industry is heavily dependent on it. As smartphones are becoming commonplace across urban, suburban and rural sectors of India, the digital medium is anticipated to bridge the content consumption divide across socio-economic classes and categories. Besides, the Government is giving further impetus to digital consumption and payments through initiatives like Digital India and Skill India. These efforts would eventually lead to mass adoption of technology. However, the challenge for the M&E industry would be to align itself consistently with dynamic changes [OYV\NO PUUV]H[PVU ;OLYL PZ HSZV H ULLK MVY H ZPNUPÄJHU[ change in mindset and approach. The M&E players would ULLK [V IL ÅL_PISL HUK VWLYH[L ^P[O H SVUN [LYT PU[LNYH[LK strategy amid this evolving paradigm. The focus should be on building sustainable businesses.

COMPANY OVERVIEW HT Media has emerged as one of India’s leading media companies with prominence across print, radio and digital platforms. The Company has a rich legacy of empowering people through information and insight. The Company is engaged in printing and publishing of ‘Hindustan Times’, ‘Hindustan’ (through subsidiary) and ‘Mint’. It operates FM radio stations under the brands ‘Fever’ and ‘Radio Nasha’. The Entertainment & Digital Innovation businesses of the group includes multiple web portals (hindustantimes.com, livehindustan.com, livemint.com, desimartini.com), digital images repository, digital entertainment, and the strategic content integration business along with the multimedia content business. HT Media has integrated its editorial operations for real-time reporting across multiple platforms. Having established a º+PNP[HS 5L^ZYVVT» [OL *VTWHU` OHZ YVSSLK V\[ H \UPÄLK Content Management System that prioritises transparency, JVTT\UPJH[PVU LMÄJPLUJ` HUK HJJLZZ [V PUMVYTH[PVU ;OPZ OHZ LUHISLK [OL LKP[VYPHS [LHTZ [V THUHNL UL^Z ^VYRÅV^Z

B

16-58

Statutory Reports

C

59-290

Financial Statements

VU H ZPUNSL \UPÄLK WSH[MVYT [OH[ OHZ PUJYLHZLK [OLPY productivity. The Company adopted Methode, a cutting edge software platform used by top international media houses for the purpose. Apart from various digital media platforms, the Company is into other domains like education and jobs. While the Company uses Studymate to impart supplementary education to class VIII to XII students, it offers management education through Bridge School of Management. In addition, the group possesses a job portal (Shine.com), and a mobile marketing and solution provider (Digital Quotient).

REVIEW OF OPERATIONS Print Hindustan Times Hindustan Times remained India’s second most-widely read English newspaper with 4.5 million readers across the nation. It remained the undisputed leader in Delhi-NCR, as it retained its No.1 position as the leading English daily. The newspaper is published from different cities and has supplements for respective cities. Moreover, it continues to maintain its No. 2 position among English dailies in India’s ÄUHUJPHS JHWP[HS 4\TIHP Mint According to the last IRS 2014 data available, Mint has retained its No. 2 position among India’s business dailies. The new version of Mint was launched in September 2016, as a broadsheet. In FY 2016-17, Mint won three Ramnath Goenka awards for its excellent reporting on India’s economic landscape. Besides, Mint’s India-centric all Asia journal - MintAsia has made headways into the Malaysian market. Hindustan Hindustan is India’s most popular Hindi daily. Primarily, with a foothold in the Hindi belt, the newspaper spins out 20 editions. Hindustan strengthened its competitive position in its markets in the last year. It was recognised as the ‘Most Trusted Print Media Brand’ by the Brand Trust Report, 2017. Hindustan, combined with FM Radio stations in UP, forms a unique combination, which is of great value to the advertisers and government alike.

Digital Shine.com The job database portal operates in the entry to mid segment jobs. It continues to grow at a rapid pace and already holds No.2 position in the database segment. It holds more than three lac job openings on its site and the total number of job seekers is more than two crore. In FY 2016-17, Shine.com has shown a revenue growth of approximately 30%, compared to the previous year. Besides, the brand has extended itself to a new line of business focused on e-learning and career advancement courses, under the umbrella of Shine Career Plus which is looking promising. ANNUAL REPORT 2016-17

19

Hindustantimes.com ;OL ÅHNZOPW VUSPUL ]LYZPVU VM /; OPUK\Z[HU[PTLZ JVT OHZ LUHISLK H KPNP[HS ÄYZ[ UL^ZYVVT [OH[ OHZ Z\JJLLKLK in massively increasing and enhancing the digital output. The all new application is leading to increased consumer preference and better performance for hindustantimes.com. Hindustantimes.com ended the year with over 100 million monthly page views and 30 million monthly unique visitors. Livehindustan.com The editorial team offers comprehensive and exclusive online content, which is updated round the clock with the latest in breaking news. Comprehensive multimedia content across sections, minute by minute business updates and analysis, special in-depth exclusive features on content across sections, and ball by ball cricket coverage, are some of the other features which distinguish this website from other Hindi news websites. Livemint.com Livemint.com is Mint’s digital platform. Its active user base is swelling with an increasing number of viewers. Its page views crossed 30 million monthly page views and 11 million monthly unique visitors mark in FY 2016-17. Desimartini.com Desimartini.com holds No. 2 position in India as a movie entertainment content website. It has increasingly become an important voice of the entertainment industry in the country. It enjoys a strong position, especially among the movie fraternity. The platform recorded a growth of over 50% in visits, and over 65% in page views, vis-a-vis the previous year. Besides, it acquired 45 million unique visitors who viewed over 365 million pages in FY 2016-17. HT Campus HT Campus is HT Media’s venture into online education, providing valuable information to students on colleges and courses.

Radio Fever -L]LY -4 PZ [OL ÄYZ[ YHKPV UL[^VYR [V OH]L SH\UJOLK HSS stations acquired under Phase-III license auctions within one year of its acquisition. Fever FM leads the two biggest radio markets – Delhi and Mumbai and enjoys good listenership in Bengaluru, Kolkata and Chennai. Besides, it has launched radio stations in Hyderabad and in seven cities of UP - Lucknow, Kanpur, Agra, Allahabad, Aligarh, Bareilly and Gorakhpur - offering advertisers an unparalleled reach. In Delhi, it enjoyed absolute leadership for over 350 weeks with 19.1% market share, while in Mumbai, it is the No. 1 station with 16% market share. In Bengaluru, Fever FM leads the non-Kannada space with 13.3% share; more than the combined share of all other non-Kannada

20

HT MEDIA LIMITED

players. It is the No. 1 station in Kolkata in the ‘7 am – TPKUPNO[» ZSV[ 4VYLV]LY -L]LY -4 SLHKZ PU Ä]L VM [OL LPNO[ drive time programmes across the four metros. Radio Nasha HT’s second FM radio offering Radio Nasha was rated No. 2 PU +LSOP ^P[OPU [OL ÄYZ[ `LHY VM P[Z SH\UJO IHJRLK I` H Z[YVUN media-launch campaign. With the launch of Radio Nasha, HT Media is the only network to own two frequencies in the two largest markets of Delhi and Mumbai. The radio station ^HZ H^HYKLK [OL NSVIHSS` WYLZ[PNPV\Z ,MÄL (^HYK MVY its marketing effectiveness.

Education Studymate It is the supplementary education offering under the Company’s subsidiary HT Learning Centers Limited (HTLC) that caters to students from class VIII to XII. Its key strengths are its pedagogical processes of teaching and assessment, high quality content, excellent manpower and training elements. It has superior infrastructure and a wide geographic reach in DelhiNCR. It currently caters to CBSE classes, offering four subjects in high school classes and seven subjects in senior school classes. Its spread increased to 29 locations across Delhi-NCR in FY 2016-17, from 23 locations in FY 2015-16. Bridge The Bridge School of Management, has launched a programme in General Management (Post Graduate Programme in Management-Business Immersion). In February 2017, it launched two programmes in Digital Marketing and two programmes in Supply Chain Management. In the year under review, the institute increased its student intake capacity by 86% for the longterm programmes. In addition, its revenues grew by 87%, compared to the previous year.

FINANCIAL PERFORMANCE FY17 (CONSOLIDATED) Revenue The Company’s total revenue increased to ` 2,682 crore in FY 2016-17 from ` 2,658 crore in FY 2015-16, registering a 1% growth over the previous year. This growth was primarily driven by increase in circulation revenue and other income.

EBITDA EBITDA grew from ` 479 crore in FY 2015-16 to ` 528 crore in FY 2016-17, registering a 10.2% growth over the previous year. This was primarily driven by growth in revenue while maintaining tight control on costs.

PAT (after minority interest) PAT decreased by 2% from ` 173 crore to ` 170 crore due to an increase in amortisation from radio licenses as well as higher interest costs.

A

01-15

About HT Media

Dividend A dividend of ` 0.4 per share was recommended by the Board.

MARKETING INITIATIVES HT Media is among the most reputed media brands of India. At HT Media, we follow the highest standards of journalism based on the principle of unbiased and credible reporting to our readers. The organisation is trusted by readers as a source of credible information.

B

16-58

Statutory Reports

C

59-290

Financial Statements

;OL RL` OPNOSPNO[ VM -@ ^HZ [OL SH\UJO VM Ä]L +PNP[HS ;YHPUPUN 4VK\SLZ MVY [OL ÄYZ[ [PTL PU [OL *VTWHU` The initiative will support the existing staff to understand various aspects of digital media, as HT Media takes a leap into the world of digital content. The modules were launched using the HR management system called ‘The People Centre’. The Company focused on the following HR policies in FY 2016-17: •

Performance-centric: HT values performance, and employees are paid basis their performance throughout the year

•

Retention bonus: Critical employees were retained by offering them retention bonus

•

Maternity leaves: The Company implemented the policy on revision in the maternity leave as per Supreme Court order from 12 weeks to 26 weeks

•

Safety of women employees: The Company has in place, strict policies for women’s safety in the workplace. It is fully compliant with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company’s formulated policy in this regard is available on the employee intranet portal. The Internal Complaint Committee (ICC) is in place. Two complaints were reported during FY 2016-17, which was adequately dealt with by ICC

•

Rightsizing for the organisation: HT Media has created a logical and necessary workforce plan for each function and business. It is based on each role, and requirements of each function. The Company engaged external consultants for the purpose. This has helped the Company acquire an optimum Manpower Plan for the year under review

(Z WHY[ VM [OL KPNP[HS ÄYZ[ Z[YH[LN` [OL *VTWHU` OHZ M\Y[OLY strengthened the business of syndication and dissemination of news, knowledge, information, entertainment and content of general interest, in English, Hindi or any other language through various digital and electronic media; and management of advertising time and space on digital news portals.

•

Rolled out competency framework: HT Media PKLU[PÄLK H MYHTL^VYR MVY RL` JVTWL[LUJPLZ YLX\PYLK at every work level. This helped to recognise key print functions including media marketing (ad sales), JPYJ\SH[PVU THYRL[PUN ÄUHUJL HUK /9 ;OPZ MYHTL^VYR was used for the development of employees to take over larger roles

HUMAN RESOURCE

•

Training dedicated to each employee: As HT Media transformed to a digital base, more than 50% staff was trained on various programmes with an average of 9.2 hours of training per person

HT Media was involved in a number of marketing initiatives during FY 2016-17, a few are mentioned below: •

•

Organised special events to cater to the audience, in an innovative manner, the culmination of information, education and entertainment. Some of the major events and campaigns organised by HT Media include Hindustan Times Leadership Summit, HT Paathshala, Hindustan Times Most Stylish, Mint Annual Banking Conclave, Hindustan Olympiad, among others Fever FM launched highly appreciated media campaigns like Fever Voice of change, Bharat Positive, Radio Ki Sarkar and Radio ka pehla swayamvar

ENTERTAINMENT & DIGITAL INNOVATION INITIATIVES The Company has various businesses that are complementary in nature, however they are distinct in terms of their nature, regulatory and competitive environment, YPZR WYVÄSL ^VYRMVYJL JHWHIPSP[` JHWP[HS YLX\PYLTLU[ and growth trajectory. As an initiative to capitalise the growth potential for the Entertainment & Digital Innovation Business, last year, the Multimedia Content Management Undertaking was consolidated under HT Digital Streams Limited (subsidiary company). There is an increased focus on the Entertainment & Digital Innovation Business as a whole, which encapsulates multiple web portals (hindustantimes.com, livehindustan.com, livemint.com and desimartini.com) etc.

HT Media considers employees as its most vital and valuable assets and major strength. The employees are trained for necessary soft and hard skills on a regular basis.

ANNUAL REPORT 2016-17

21

Cross-functional roles: HT Media moves its valued resources from one role to another to provide exposure and professional learning across functions to train them better

PU[LYUHS MHJ[VYZ ( YPZR PKLU[PÄJH[PVU L_LYJPZL PZ JHYYPLK out periodically to identify various strategic, operational, ÄUHUJPHS HUK JVTWSPHUJL YLSH[LK YPZRZ HUK [OLZL HYL evaluated for their likelihood and potential impact.

As on 31st March 2017, HT Media’s people strength stood at 2,312.

Few risks and uncertainties that can affect the business HYL HK]LYZL THJYVLJVUVTPJ JVUKP[PVUZ PUÅ\LUJPUN revenue growth, technological changes impacting media consumption patterns, competition and volatility in commodity and forex rates affecting prices of major raw material.

•

TECHNOLOGY In FY 2016-17, the Company adopted the following technology initiatives to strengthen its competencies: •

Content Management System: The Company has LZ[HISPZOLK H \UPÄLK JVU[LU[ THUHNLTLU[ Z`Z[LT I` HKVW[PUN 4L[OVKL H UL^Z ^VYRÅV^ THUHNLTLU[ system used by several media houses globally. This has enabled the Company to integrate its editorial VWLYH[PVUZ \UKLY H \UPÄLK RUV^SLKNL IHZL [OH[ HSSV^Z LHZ` ÅV^ VM PUMVYTH[PVU HUK KH[H

•

Successful transition of mastheads: The HT and Mint mastheads were successfully transitioned to Methode, to be aligned to the new content system

•

Implemented automation in sales: The organisation implemented a sales automation system for HT, Mint and Radio to provide better customer focus to its advertisers

•

Rolled out new student management system: HT Media adopted a new student management system for its education business

RISK GOVERNANCE FRAMEWORK The Company has a robust risk management framework to manage and mitigate risks arising from external and

22

HT MEDIA LIMITED

Potential risks are reviewed periodically, and are managed as an integral part of decision-making. To sustain its competitive edge and to stay ahead of the curve, the Company has taken various initiatives. These initiatives include enhancing the existing technological capabilities and digital properties, training and empowering employees, expanding geographic presence and continue investing in print facilities.

INTERNAL CONTROL The Company has an effective system of internal control corresponding with its size, nature of business and complexity of operations. It ensures accurate, reliable HUK [PTLS` JVTWPSH[PVU VM ÄUHUJPHS HUK THUHNLTLU[ information reports and optimum utilisation of organisation resources. The internal control mechanism comprises a ^LSS KLÄULK VYNHUPZH[PVUHS Z[Y\J[\YL ^P[O JSLHYS` KLÄULK authority levels and documented policies, guidelines and procedures covering all business areas and functions. These systems have been designed to safeguard the assets and interests of the Company, and also ensure compliance with the Company’s policies, procedures and applicable regulations.

A

01-15

About HT Media

A robust ERP system (SAP) is used for accounting across locations. This ERP system also has Shared Service Centre supporting centralised and standardised procurement to payment processes. These systems enhance the YLSPHIPSP[` VM Ă„UHUJPHS HUK VWLYH[PVUHS PUMVYTH[PVU WYV]PKL automatic controls and better segregation of duties. Also, purchase committees function in locations to strengthen the approval mechanism and operate an effective purchase process. The Company has instituted online compliance management tool, and concurrent audit of the same [OYV\NO H WYVMLZZPVUHS H\KP[ Ă„YT MVY LUZ\YPUN LMMLJ[P]L compliance oversight. The Company also has a wellKLĂ„ULK WYVJLZZ MVY MVYT\SH[PUN HUK YL]PL^PUN P[Z HUU\HS HUK long-term business plans and monitoring the progress of all its operating activities and projects on a regular basis. The internal control system is supplemented with an extensive program of internal audits and their reviews by the management. The in-house internal audit function Z\WWVY[LK I` WYVMLZZPVUHS L_[LYUHS H\KP[ Ă„YTZ JVUK\J[Z comprehensive risk focused audits across locations and functions to maintain a proper system of control.

B

16-58

Statutory Reports

C

59-290

Financial Statements

ROAD AHEAD India’s M&E industry is projected to grow at a faster pace of 14% over the period 2016–21 with advertising revenue expected to increase at 15.3% CAGR during the same period. However, in 2017, advertising revenues are expected to grow at a marginally slower rate of 13.1% due to the lingering effects of demonetisation and initial volatility arising from GST implementation. :V\YJL 0UKPHU 4LKPH HUK ,U[LY[HPUTLU[ 0UK\Z[Y` 9LWVY[ . Both, English and Hindi publications are adopting innovative methods to constantly align with the reading preferences of new India. On the other hand, the Company’s radio segment is expected to grow attractively, going forward. Fever FM will continue to outperform the industry on the back of innovation, execution, strong brand pull, quality content, and great music. The year ahead would be a year to consolidate further on the successful launches of Radio Nasha and other new stations under FM Radio (Phase III) licensing regime. HT Media continues to strengthen its digital strategy, and with the Government’s focus on digitalisation across the board, the Company’s digital landscape will continue to grow.

ANNUAL REPORT 2016-17

23

BOARD’S REPORT Dear Members, Your Directors are pleased to present their Report, together with the Audited Financial Statements (Standalone and *VUZVSPKH[LK MVY [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO

FINANCIAL RESULTS (STANDALONE) @V\Y *VTWHU`»Z WLYMVYTHUJL K\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO HSVUN ^P[O WYL]PV\Z `LHY»Z ÄN\YLZ PZ summarized below: (` in Lacs) Particulars Total Income Earnings before interest, tax, depreciation and amortization (EBITDA) from continuing operations Add: Exceptional Item Less: Depreciation and amortization expense Less: Finance costs

2016-17

2015-16

158,893.20

1,60,462.30

24,034.72

31,238.48

9,746.79 7,868.40

2,104.00 7,088.88 5,098.16

7YVÄ[ 3VZZ ILMVYL [H_ MYVT JVU[PU\PUN VWLYH[PVUZ Less: Tax Expense • Current Tax • Adjustment of current tax related to earlier periods • Deferred tax charge / (credit) Total tax expense

6,419.53

21,155.44

(824.53) 1,093.43 268.90

5,723.05 (396.23) 960.03 6,286.85

( 7YVÄ[ 3VZZ MVY [OL `LHY MYVT JVU[PU\PUN VWLYH[PVUZ HM[LY [H_ 7YVÄ[ 3VZZ MYVT KPZJVU[PU\LK VWLYH[PVUZ Less: Tax charge/ (credit) including deferred tax of discontinued operations

6,150.63 -

14,868.59 (8,447.00) (2,923.34)

6,150.63 (5,501.63)

(5,523.66) 9,344.93 (115.36)

Total Comprehensive Income for the year (net of tax) Opening balance in Retained Earnings (KK! 7YVÄ[ 3VZZ MVY [OL `LHY Less: Items of other Comprehensive Income recognized directly in Retained Earnings ‹ 9L TLHZ\YLTLU[Z VM WVZ[ LTWSV`TLU[ ILULÄ[ VISPNH[PVU UL[ VM [H_ Dividend paid Tax on Dividend Adjustment of accumulated surplus of HT Media Employee Welfare Trust

649.00 1,07,669.37 6,150.63

9,229.57 99,418.18 9,344.93

60.63 930.99 56.30 (8.37)

115.36 930.99 56.30 (8.91)

Total Retained Earnings

1,12,780.45

1,07,669.37

) 7YVÄ[ 3VZZ MYVT KPZJVU[PU\LK VWLYH[PVUZ HM[LY [H_ 7YVÄ[ MVY [OL `LHY ( ) Add: Other Comprehensive Income for the year (net of tax)

The Company has adopted the Indian Accounting :[HUKHYKZ ¸0UK (:¹ UV[PÄLK \UKLY [OL *VTWHUPLZ (Indian Accounting Standards) Rules, 2015 w.e.f. April 1, 2016. Financial Statements for the year ended and as at March 31, 2016 have been restated to conform to Ind AS. Please refer note no. 51 to the Standalone Financial Statements for further explanation on the transition to Ind AS.

24

HT MEDIA LIMITED

DIVIDEND Your Directors are pleased to recommend a dividend of ` 0.40 per Equity Share of ` 2/- each i.e. @ 20% (previous year – ` 0.40 per Equity Share of ` 2/- each i.e. @ 20%), for [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO HUK ZLLR `V\Y approval for the same.

A

01-15

About HT Media

The proposed equity dividend payout (including Corporate +P]PKLUK +PZ[YPI\[PVU ;H_ ^V\SK LU[HPS HU V\[Ă…V^ VM ` 11.21 Crore (previous year ` 9.87 Crore). During the year, the Board has framed a Dividend Distribution Policy, pursuant to the provisions of Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulationsâ€?), which appears as “Annexure-Aâ€?, and is also available on the Company’s website ]Pa. www.htmedia.in.

COMPANY PERFORMANCE AND FUTURE OUTLOOK ( KL[HPSLK HUHS`ZPZ HUK PUZPNO[ PU[V [OL Ă„UHUJPHS WLYMVYTHUJL and operations of your Company for the year under review and future outlook, is appearing in Management Discussion and Analysis, which forms part of the Annual Report.

SCHEME OF ARRANGEMENT With a view to create a separate and focussed entity to avail future emerging opportunities in the digital media segment, the Multimedia Content Management Undertaking of the Company was transferred and vested to and in HT Digital Streams Limited (HTDSL), as a ‘going concern’ on a slump exchange basis, pursuant to a Scheme of Arrangement u/s 391-394 of the Companies Act, 1956 between the Company and HTDSL and the respective shareholders and creditors (“Scheme�). The Scheme was sanctioned by the Hon’ble Delhi High Court and Hon’ble High Court of Judicature at Patna with effect from the Appointed Date i.e., April 1, 2016. Pursuant to the Scheme, HTDSL has issued and allotted to the Company on December 31, 2016 (being the Effective Date), its 1,14,12,104 nos. Equity Shares of ` 10/- each which constitutes 57.17% of the Equity Shares Capital of HTDSL along with the Company’s then existing shareholding.

RISK MANAGEMENT Your Company has a robust risk management framework to identify, evaluate and mitigate business risks. The Company has constituted a Risk Management Committee of Directors ^OPJO YL]PL^Z [OL PKLU[PĂ„LK YPZRZ HUK HWWYVWYPH[LULZZ VM THUHNLTLU[ÂťZ YLZWVUZL [V ZPNUPĂ„JHU[ YPZRZ ( KL[HPSLK statement indicating development and implementation of a risk management policy for the Company, including PKLU[PĂ„JH[PVU VM ]HYPV\Z LSLTLU[Z VM YPZR PZ HWWLHYPUN PU the Management Discussion and Analysis.

EMPLOYEE STOCK OPTION SCHEME The information required to be disclosed pursuant to the provisions of the Securities and Exchange Board of India

B

16-58

Statutory Reports

C

59-290

Financial Statements

:OHYL )HZLK ,TWSV`LL )LULĂ„[Z 9LN\SH[PVUZ YLHK with SEBI’s circular no. CIR/CFD/POLICY CELL/2/2015 dated June 16, 2015 (“SEBI ESOP Regulationsâ€?) is available on the Company’s website ]Pa. www.htmedia.in. The ‘HTML Employee Stock Option Scheme’ and ‘HTML Employee Stock Option Scheme – 2009’ are in compliance with the SEBI ESOP Regulations.

SUBSIDIARY COMPANIES AND JOINT VENTURE During the year under review, HT Overseas Pte. Ltd. (HT Overseas) (step-down subsidiary) entered into a joint venture agreement with Sportority Limited (90MiN, a leading soccer media website) and NBM Capital L.P. to incorporate, ‘Sports Asia Pte. Ltd.’ (Sports Asia) in Singapore. Sports Asia is authorized to operate website and various other social media applications containing football content, targeting users in India and nearby countries. HT Overseas will hold 50.50% of the capital of Sports Asia. India Education Services Private Limited (IESPL), was operating as a 50:50 Joint Venture between the Company and Apollo Global Singapore Holdings Pte. Ltd. (Apollo Global). In view of differences in the strategy of the JV Partners for future operations of IESPL, your Company has acquired 49% equity share capital of IESPL, held by Apollo Global; and thus, the JV agreement stands terminated. Accordingly, IESPL is a subsidiary of your Company. A composite Scheme of Capital Reduction and Arrangement (“Schemeâ€?) under the applicable provisions of the Companies Act, 1956 and the *VTWHUPLZ (J[ IL[^LLU -PYLĂ…` L =LU[\YLZ 3PTP[LK -PYLĂ…` /; +PNP[HS 4LKPH /VSKPUNZ 3PTP[LK /; +PNP[HS and HT Mobile Solutions Limited (HT Mobile) (“Subsidiary Companiesâ€?) and their respective shareholders and creditors, is pending sanction by the Hon’ble National Company Law Tribunal. The Scheme, PU[LY HSPH, provides MVY JHWP[HS YLK\J[PVU VM /; +PNP[HS HUK -PYLĂ…` HUK KLTLYNLY VM /; *HTW\Z <UKLY[HRPUN VM -PYLĂ…` HUK [YHUZMLY HUK vesting thereof to and in HT Mobile. In terms of the provisions of Section 136 of the Companies Act, 2013, the Financial Statements of Z\IZPKPHY` JVTWHUPLZ MVY [OL Ă„UHUJPHS `LHY LUKLK VU March 31, 2017 are available for inspection by the Members VM [OL *VTWHU` H[ [OL YLNPZ[LYLK VMĂ„JL VM [OL *VTWHU` during business hours. The same is also available on the Company’s website ]Pa. www.htmedia.in. ( YLWVY[ VU [OL WLYMVYTHUJL HUK Ă„UHUJPHS WVZP[PVU VM LHJO of the subsidiary companies and joint venture in prescribed Form AOC-1 is annexed to the Consolidated Financial

ANNUAL REPORT 2016-17

25

Statements and hence, not reproduced here. The ‘Policy for determining Material Subsidiary(ies)’, is available on the Company’s website ]Pa. www.htmedia.in. The contribution of the subsidiary companies and joint venture to the overall performance of your Company is outlined in note no. 53 of the Consolidated Financial :[H[LTLU[Z MVY [OL Ă„UHUJPHS `LHY LUKLK 4HYJO

DIRECTORS AND KEY MANAGERIAL PERSONNEL During the year under review, on the recommendation of Nomination and Remuneration Committee, the Board of Directors at its meeting held on May 26, 2016, appointed Shri Dinesh Mittal as Whole-time Director, for a period of Ä]L `LHYZ ^ L M 4H` ^OPJO ^HZ HWWYV]LK I` the Members at the 14th Annual General Meeting (AGM). In accordance with the provisions of the Companies Act, 2013, Shri Priyavrat Bhartia, retires by rotation at the ensuing AGM and being eligible, has offered himself for re-appointment. Your Directors commend the re-appointment of Shri Priyavrat Bhartia for approval of the Members at the ensuing AGM. All the Independent Directors of the Company have JVUÄYTLK [OH[ [OL` TLL[ [OL JYP[LYPH VM PUKLWLUKLUJL as prescribed under both, the Companies Act, 2013 and SEBI Regulations. The Independent Directors have also JVUÄYTLK [OH[ [OL` OH]L JVTWSPLK ^P[O [OL º*VKL VM Conduct’ of the Company. During the year under review, Shri Shamit Bhartia YLSPUX\PZOLK VMÄJL VM 1VPU[ 4HUHNPUN +PYLJ[VY w.e.f. February 1, 2017. However, he continues to be a Non-executive Director of the Company. Brief resume, nature of expertise, details of directorship held in other companies of Shri Priyavrat Bhartia proposed to be re-appointed, along with his shareholding in the Company as stipulated under Secretarial Standard-2 and Regulation 36 of SEBI Regulations is provided in the Notice of ensuing AGM.

PERFORMANCE EVALUATION In line with the requirements under the Companies Act, 2013 and SEBI Regulations, the Board undertook an annual formal evaluation of its own performance and that of its Committees & Directors. The Nomination and Remuneration Committee framed questionnaires for evaluation of performance of the Board as a whole, Board Committees ]Pa (\KP[ *VTTP[[LL :[HRLOVSKLYZĆŹ 9LSH[PVUZOPW *VTTP[[LL *VYWVYH[L :VJPHS 9LZWVUZPIPSP[` *VTTP[[LL HUK 5VTPUH[PVU HUK 9LT\ULYH[PVU *VTTP[[LL ; Directors and the Chairperson,

26

HT MEDIA LIMITED

on various criteria outlined in the ‘Guidance Note on Board Evaluation’ issued by SEBI on January 5, 2017. The Directors were evaluated on various parameters such as, value addition to discussions, level of preparedness, familiarization with relevant aspects of Company’s business/ activities etc. Similarly, the Board as a whole was evaluated on parameters which included its composition, strategic direction, focus on governance, risk management HUK Ă„UHUJPHS JVU[YVSZ A summary report of the feedback of Directors on the questionnaire(s) was considered by the Nomination and Remuneration Committee and the Board of Directors. The Board would endeavour to use the results of the evaluation process constructively, improve its own effectiveness and deliver superior performance.

AUDITORS Auditors In order to comply with the requirement of mandatory rotation of Auditors by the conclusion of the ensuing AGM, and to appoint a new Auditor in place of S.R. Batliboi & CO. LLP, Chartered Accountants [Firm Registration No. 301003E/ E300005] (“SRBâ€?), the Audit Committee and Board of Directors at their respective meetings held on May 19, 2017, have recommended the appointment of Price Waterhouse & Co Chartered Accountants LLP (PwC) [Firm Registration No. 304026E/E-300009], as (\KP[VYZ VM [OL *VTWHU` [V OVSK VMĂ„JL MVY H [LYT VM Ă„]L JVUZLJ\[P]L `LHYZ MYVT [OL JVUJS\ZPVU VM LUZ\PUN AGM till the conclusion of sixth AGM from the ensuing AGM Z\IQLJ[ [V YH[PĂ„JH[PVU VM [OLPY HWWVPU[TLU[ I` [OL 4LTILYZ H[ every AGM to be held in the intervening period, if so required by Companies Act, 2013). The Company has received a JLY[PĂ„JH[L MYVT 7^* [V [OL LMMLJ[ [OH[ [OLPY HWWVPU[TLU[ as Auditors shall be in accordance with the provisions of Sections 139 and 141 of the Companies Act, 2013. The Auditor’s Report of SRB on Annual Financial :[H[LTLU[Z :[HUKHSVUL HUK *VUZVSPKH[LK MVY [OL Ă„UHUJPHS `LHY LUKLK VU 4HYJO PZ HU \UTVKPĂ„LK VWPUPVU P L P[ KVLZ UV[ JVU[HPU HU` X\HSPĂ„JH[PVU YLZLY]H[PVU VY adverse remark.

Secretarial Auditor Pursuant to the provisions of Section 204 of the Companies Act, 2013 and rules made thereunder, the Board of Directors had appointed Shri Arun Kumar Soni, Company Secretary in Practice (C.P. No. 1726) as Secretarial Auditor, to conduct the Secretarial Audit for [OL Ă„UHUJPHS `LHY ;OL :LJYL[HYPHS (\KP[ 9LWVY[ PZ annexed herewith as “Annexure-Bâ€?. The Secretarial Audit 9LWVY[ KVLZ UV[ JVU[HPU HU` X\HSPĂ„JH[PVU YLZLY]H[PVU VY adverse remark.

A

01-15

About HT Media

During the year under review, the Auditors and the Secretarial Auditor have not reported to the Audit Committee, any instance of fraud under Section 143(12) of the Companies Act, 2013 and Rules made thereunder.

RELATED PARTY TRANSACTIONS All contracts /arrangements /transactions entered into by the Company with related parties during the year under review, were in ordinary course of business of the Company and on arms’ length terms. The related party transactions were placed before the Audit Committee for review and approval. During the year, the Company did not enter into any contract /arrangement /transaction with related party, which could be considered material in accordance with the Company’s ‘Policy on Materiality of and dealing with Related Party transactions’ and accordingly, the disclosure of related party transactions in Form AOC-2 is not applicable. The said policy is available on the Company’s website ]Pa.www.htmedia.in. Reference of the Members is invited to note no. 36 of the Standalone Annual Financial Statements, which sets out the related party disclosures as per Ind AS-24.

CORPORATE SOCIAL RESPONSIBILTY As a responsible corporate citizen, your Company is committed to undertake socially useful programmes for welfare and sustainable development of the community at large. The Company has in place the Corporate Social Responsibility (CSR) Committee of the Directors, in terms of Section 135 of the Companies Act, 2013. The composition and terms of reference of the CSR Committee are provided in the Report on Corporate Governance which forms part of the Annual Report. The CSR Committee has formulated and recommended to the Board, a CSR Policy outlining CSR projects/activities to be undertaken by the Company, during the year under review. The CSR Policy is available on the Company’s website ]Pa. www.htmedia.in. The Annual Report on CSR for FY 17 is annexed herewith as “Annexure-C�.

DIRECTORS’ RESPONSIBILITY STATEMENT Pursuant to Section 134 of the Companies Act, 2013, your Directors state that: i.

in the preparation of the annual accounts for the Ă„UHUJPHS `LHY LUKLK VU 4HYJO [OL HWWSPJHISL Accounting Standards have been followed and there are no material departures;

ii.

such accounting policies have been selected and applied consistently and judgments and estimates have been made, that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on March 31, 2017; and

B

16-58

Statutory Reports

C

59-290

Financial Statements

VM [OL WYVĂ„[ VM [OL *VTWHU` MVY [OL `LHY LUKLK VU March 31, 2017; PPP WYVWLY HUK Z\MĂ„JPLU[ JHYL OHZ ILLU [HRLU for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; iv.

the annual accounts have been prepared on a ‘going concern’ basis;

]

WYVWLY PU[LYUHS Ă„UHUJPHS JVU[YVSZ ^LYL PU WSHJL HUK [OH[ Z\JO PU[LYUHS Ă„UHUJPHS JVU[YVSZ ^LYL HKLX\H[L and operating effectively; and

vi.

systems have been devised to ensure compliance with the provisions of all applicable laws, and that such systems were adequate and operating effectively.

DISCLOSURES UNDER THE COMPANIES ACT, 2013 Borrowings and Debt Servicing: During the year under review, your Company has met all its obligations towards repayment of principal and interest on loans availed. Particulars of loans given, investments made, N\HYHU[LLZ ZLJ\YP[PLZ NP]LU! The details of investments made and loans/guarantees/securities given, as applicable, are given in the notes to the Annual Standalone Financial Statements. Board Meetings: A yearly calendar of meetings is prepared and circulated in advance to the Directors. During [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO [OL )VHYK TL[ Ä]L [PTLZ VU 4H` [^V ZLWHYH[L TLL[PUNZ August 05, 2016, November 02, 2016 and January 24, 2017. For further details of these meetings, Members may please refer Report on Corporate Governance which forms part of this Annual Report. Committees of the Board: At present, seven standing committees of the Board of Directors are in place ]Pa. Audit Committee, Nomination and Remuneration Committee, CSR Committee, Banking and Finance Committee, Investment Committee, Stakeholder’s Relationship Committee and Risk Management Committee. During the year under review, the recommendations of the aforesaid Committees were accepted by the Board. Remuneration Policy: The Remuneration Policy of the Company on appointment and remuneration of Directors, Key Managerial Personnel & senior management as prescribed under Section 178(3) of the Companies Act, 2013 and SEBI Regulations, is available on the Company’s website ]Pa. www.htmedia.in.

ANNUAL REPORT 2016-17

27

Vigil Mechanism: The Vigil Mechanism as envisaged in the Companies Act, 2013 & rules made thereunder, and the SEBI Regulations, is addressed in the Company’s “Whistle Blower Policy”. In terms of the Policy, directors/employees/ stakeholders of the Company may report concerns about unethical behaviour, actual or suspected fraud or any violation of the Company’s Code of Conduct. The Policy provides for adequate safeguards against victimization of the Whistle Blower. The Policy is available on the Company’s website ]Pa. www.htmedia.in.

GENERAL Your Directors state that no disclosure is required in respect of the following matters as there were no transactions/ events in relation thereto, during the year under review: 1.

Details relating to deposits covered under Chapter V of the Companies Act, 2013.

2.

Issue of equity shares with differential rights as to dividend, voting or otherwise.

Particulars of employees and related disclosures: In accordance with the provisions of Section 197(12) of the Companies Act, 2013 read with Rule 5(2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, details of employees remuneration are set out in the “Annexure-D” to this Report. In terms of the provisions of Section 136(1) of the Companies Act, 2013, the Board’s Report is being sent to the Members without this annexure. However, the same is available for inspection by the Members at the Registered 6MÄJL VM [OL *VTWHU` K\YPUN I\ZPULZZ OV\YZ KH`Z before the ensuing AGM. Members interested in obtaining a copy of the said Annexure, may write to the Company :LJYL[HY` H[ [OL 9LNPZ[LYLK 6MÄJL VM [OL *VTWHU`

3.

Issue of shares (including sweat equity shares) to employees of the Company under any scheme of the Company.

Disclosures under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed herewith as “Annexure-E”.

5V ZPNUPÄJHU[ VY TH[LYPHS VYKLYZ ^LYL WHZZLK I` [OL Regulators or Courts or Tribunals which impact the ‘going concern’ status and Company’s operations in future.

Extract of Annual Return: Extract of the Annual Return for [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO PU -VYT 4.; is annexed herewith as “Annexure-F”. Corporate Governance: The report on Corporate Governance in terms of the SEBI Regulations, forms part VM [OPZ (UU\HS 9LWVY[ ;OL JLY[PÄJH[L PZZ\LK I` *VTWHU` Secretary in Practice, is annexed herewith as “Annexure-G”. Conservation of energy, technology absorption and foreign exchange earnings & outgo: The information on conservation of energy, technology absorption and foreign exchange earnings & outgo is annexed herewith as “Annexure-H”.

There was no change in the share capital of the Company during the year under review. The Company has not transferred any amount to the General Reserve during the year under review. No material changes/commitments have occurred after [OL LUK VM [OL ÄUHUJPHS `LHY HUK [PSS [OL KH[L VM [OPZ YLWVY[ ^OPJO ^V\SK HMMLJ[ [OL ÄUHUJPHS WVZP[PVU VM `V\Y Company.

@V\Y *VTWHU` OHZ PU WSHJL HKLX\H[L PU[LYUHS ÄUHUJPHS JVU[YVSZ ^P[O YLMLYLUJL [V [OL ÄUHUJPHS Z[H[LTLU[Z +\YPUN the year, such controls were tested and no reportable material weakness in the design or operations were observed.

ACKNOWLEDGEMENT Your Directors place on record their sincere appreciation of the co-operation extended by all stakeholders, including Ministry of Information & Broadcasting and other government authorities, shareholders, investors, readers, advertisers, browsers, listeners, customers, banks, vendors and suppliers. Your Directors also place on record their deep appreciation of the committed services of the executives and employees of the Company.

Business Responsibility Report: In terms of the provisions of Regulation 34 of the SEBI Regulations, the Business Responsibility Report is available on the Company’s website ]Pa. www.htmedia.in.

For and on behalf of the Board

Place: New Delhi Date: July 18, 2017

28

HT MEDIA LIMITED

(Shobhana Bhartia) Chairperson & Editorial Director DIN: 00020648

A

01-15

About HT Media

B

16-58

C

Statutory Reports

59-290

Financial Statements

Annexure - A to Board’s Report DIVIDEND DISTRIBUTION POLICY

1.0 PREFACE 1.1 HT Media Limited (“the Companyâ€?) has adopted the Dividend Distribution Policy (“the Policyâ€?) for due consideration [OLYLVM ^OPSL YLJVTTLUKPUN KLJSHYPUN PU[LYPT HUK VY Ă„UHS ZWLJPHS KP]PKLUK [V P[Z ZOHYLOVSKLYZ 1.2 The Policy is neither an alternative, nor in any way, abrogates the powers of the Board of Directors to recommend or declare dividend taking into consideration any other relevant factor(s) not outlined herein. 1.3 The Policy has been framed and adopted in compliance of Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulationsâ€?). 1.4 The Policy has been adopted by the Board of Directors (the “Boardâ€?) of the Company in its meeting held on January 24, 2017. 1.5 The Policy shall come into force for accounting periods commencing from April 1, 2016.

2.0 OBJECTIVE 2.1 The Policy addresses the requirement of the Listing Regulations to outline the following – •

circumstances under which shareholders of the Company may or may not expect dividend;

•

[OL Ă„UHUJPHS WHYHTL[LYZ [OH[ ZOHSS IL JVUZPKLYLK ^OPSL KLJSHYPUN KP]PKLUK"

•

internal and external factors that shall be considered for declaration of dividend;

•

policy as to how the retained earnings shall be utilized; and

•

parameters that shall be adopted with regard to various classes of shares.

3.0 CIRCUMSTANCES UNDER WHICH SHAREHOLDERS OF THE COMPANY MAY OR MAY NOT EXPECT DIVIDEND 3.1 Dividend will generally be recommended by the Board of Directors once in a year, after the announcement of the full year results and before the Annual General Meeting (AGM) of the members, as may be permitted under the law. The Board of Directors may also declare interim dividend as may be permitted by law. Further, the Board of Directors may additionally recommend special dividend in special circumstances. 3.2 The circumstances wherein shareholders of the Company may or not expect dividend shall depend upon one or more factors outlined hereunder and/or any other consideration that may emerge from time to time.

4.0 FINANCIAL PARAMETERS THAT SHALL BE CONSIDERED WHILE DECLARING DIVIDEND +P]PKLUK ZOHSS IL YLJVTTLUKLK KLJSHYLK VUS` PU JHZL VM HKLX\HJ` VM WYVĂ„[ JHSJ\SH[LK PU [OL THUULY WYLZJYPILK under the Companies Act, 2013. 6US` PU L_JLW[PVUHS JPYJ\TZ[HUJLZ PUJS\KPUN I\[ UV[ SPTP[LK [V SVZZ HM[LY [H_ PU HU` WHY[PJ\SHY Ă„UHUJPHS `LHY [OL Board of Directors may consider utilizing retained earnings for declaration of dividend, subject to the provisions of law in the said behalf.

ANNUAL REPORT 2016-17

29

;OL ÄUHUJPHS WHYHTL[LYZ [V IL JVUZPKLYLK ^OPSL YLJVTTLUKPUN KLJSHYPUN KP]PKLUK ZOHSS PUJS\KL HTVUNZ[ V[OLYZ WYVÄ[Z LHYULK Z[HUKHSVUL KPZ[YPI\[HISL YLZLY]LZ ,HYUPUN 7LY :OHYL ,7: " 9L[\YU VU (ZZL[Z 9V( " 9L[\YU VU Capital Employed (RoCE), alternative use of cash, debt repayment schedule etc.

5.0 INTERNAL AND EXTERNAL FACTORS THAT SHALL BE CONSIDERED FOR DECLARATION OF DIVIDEND 5.1 While determining the quantum of dividend pay-out, the Board of Directors shall take into account, amongst others, one or more of the following factors. Internal factors: 7YVÄ[HIPSP[` JHZO ÅV^ WVZP[PVU HJJ\T\SH[LK YLZLY]LZ LHYUPUNZ Z[HIPSP[` KP]PKLUK OPZ[VY` WH`V\[ sustainability, capex/opex plans, merger/acquisition, investment in new business, deployment of funds in short-term marketable investments, funds required to service debt, cost of raising fund from alternate source, etc. External factors: Economic environment, business cycles, tax regime, industry outlook, interest rate structure, economic and regulatory framework, government policies etc.

6.0 POLICY AS TO HOW THE RETAINED EARNINGS SHALL BE UTILIZED 6.1 Subject to the provisions of applicable laws and regulations, retained earnings may be utilized for one or more WLYTP[[LK OLHKZ PUJS\KPUN I\[ UV[ SPTP[LK [V KLJSHYH[PVU VM KP]PKLUK PU[LYPT ÄUHS JHWP[HSPaH[PVU VM ZOHYLZ I\` IHJR of shares, repayment of debt, capex/opex, organic and/or inorganic growth, investment in new business, general corporate purposes (including contingencies) etc.

7.0 PARAMETERS THAT SHALL BE ADOPTED WITH REGARD TO VARIOUS CLASSES OF SHARES 7.1 At present, the Company has issued only one class of shares i.e. Equity Shares. These Equity Shares rank WHYP WHZZ\ with each other.

30

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

Annexure - B to Board’s Report SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017 [Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014] To, The Members, HT Media Limited Hindustan Times House 18-20, Kasturba Gandhi Marg New Delhi – 110001 I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by HT Media Limited (hereinafter called ‘the Company’). Secretarial Audit was conducted in a manner that provided me a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon. )HZLK VU T` ]LYPĂ„JH[PVU VM [OL *VTWHU`ÂťZ IVVRZ WHWLYZ TPU\[L IVVRZ MVYTZ HUK YL[\YUZ Ă„SLK HUK V[OLY YLJVYKZ maintained by the Company and also the information WYV]PKLK I` [OL *VTWHU` P[Z VMĂ„JLYZ HNLU[Z HUK authorized representatives during the conduct of secretarial audit, I hereby report that in my opinion, the Company has, during the audit period ended on March 31, 2017 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance mechanism in place to the extent, in the manner and subject to the reporting made hereinafter: I report that 1. The maintenance of secretarial records is the responsibility of the management of the Company. My responsibility is to express an opinion on these secretarial records based on my audit. 2.

I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the secretarial YLJVYKZ ;OL ]LYPĂ„JH[PVU ^HZ KVUL VU [LZ[ IHZPZ [V LUZ\YL [OH[ JVYYLJ[ MHJ[Z HYL YLĂ…LJ[LK PU ZLJYL[HYPHS records. I believe that the processes and practices followed by me provide a reasonable basis for my opinion.

5.

The compliance of the provisions of corporate and other applicable laws, rules, regulation, standards is the responsibility of management. My examination ^HZ SPTP[LK [V [OL ]LYPĂ„JH[PVU VM WYVJLK\YLZ VU [LZ[ basis.

6.

The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the LMĂ„JHJ` VY LMMLJ[P]LULZZ ^P[O ^OPJO [OL THUHNLTLU[ has conducted the affairs of the Company.

I have examined the books, papers, minute books, forms HUK YL[\YUZ Ă„SLK HUK V[OLY YLJVYKZ THPU[HPULK I` [OL *VTWHU` MVY [OL Ă„UHUJPHS `LHY LUKLK VU 4HYJO according to the provisions of: (i)

The Companies Act, 2013 (the Act) and the Rules made thereunder;

(ii)

The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the Rules made thereunder;

(iii)

The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;

(iv) Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings; (v)

The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’): (a)

The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

(b)

The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;

(c)

The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009*;

(d)

The Securities and Exchange Board of India :OHYL )HZLK ,TWSV`LLZ )LULĂ„[Z 9LN\SH[PVUZ 2014;

0 OH]L UV[ ]LYPĂ„LK [OL JVYYLJ[ULZZ HUK HWWYVWYPH[LULZZ VM Ă„UHUJPHS YLJVYKZ HUK IVVRZ VM HJJV\U[Z VM [OL Company. 4.

Wherever required, I have obtained the management representation, about the compliance of laws, rules and regulation and happenings of events etc.

ANNUAL REPORT 2016-17

31

(e)

The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008*;

(f)

The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding compliance of the Companies Act and dealing with client*;

(g)

The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009*;

(h)

The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998* and

(i)

Secuities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

* Not applicable because the Company did not carry out the activities covered by the regulations/guidelines during the audit period

]P ;OL *VTWHU` OHZ PKLU[PÄLK [OL MVSSV^PUN SH^Z HZ ZWLJPÄJHSS` HWWSPJHISL [V [OL *VTWHU`!

vii)

(a)

The Press and Registration of Books Act, 1867;

(b)

Press Council Act, 1978;

(c)

Telecom Regulatory Authority of India Act, 1997;

(d)

Indian Telegraphy Act, 1885;

(e)

Indian Wireless Telegraphy Act, 1933; and

(f)

Information Technology Act, 2000.

I have also examined compliance with the applicable clauses of the Secretarial Standards issued by The Institute of Company Secretaries of India.

During the period under review, the Company has generally complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above. I further report thatThe Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during

32

HT MEDIA LIMITED

the period under review were carried out in compliance with the provisions of the Act. Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and JSHYPÄJH[PVUZ VU [OL HNLUKH P[LTZ ILMVYL [OL TLL[PUN HUK for meaningful participation at the meeting. Majority decision is carried through and based on the information given by the Company, I report that there were no instances of any dissenting members’ views being recorded or captured as part of the minutes. I further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines. I further report that during the audit period, the Company has approved following at the Annual General Meeting held on September 20, 2016: •

Offer or invite subscription to Non-Convertible Debentures/Bonds aggregating upto ` 400 Crore

•

Adoption of a new set of Articles of Association of the Company

•

Appointment of Whole-time Director of the Company

I further report that, a Scheme of Arrangement under Sections 391- 394 of the Companies Act, 1956 between the Company and HT Digital Streams Limited (‘HTDSL’) and their respective shareholders and creditors for transfer and vesting of the Multimedia Content Management Undertaking of the Company, to and in HTDSL, as a ‘going concern’ on a slump exchange basis, has been sanctioned by the Hon’ble High Court of Delhi.

Place: New Delhi Date: July 18, 2017

Sd/Arun Kumar Soni ACS No. 5441 CP No. 1726

A

01-15

About HT Media

B

16-58

C

Statutory Reports

59-290

Financial Statements

Annexure - C to Board’s Report ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) FOR FY 17 1.

A brief outline of the Company’s CSR Policy, including overview of projects or programs proposed to be undertaken and a reference to the web-link to the CSR Policy and projects or programs: The Company strives to achieve excellence when it comes to undertaking business in a socially, ethically and environmentally responsible manner. The formulation of Corporate Social Responsibility (CSR) Policy, is one such step forward in that direction. The Policy outlines the Company’s philosophy as a responsible corporate citizen and also lays down the guidelines and mechanism for undertaking socially useful programs for welfare & sustainable development of the community, in and around area of operations of the Company and other parts of the country. The Policy applies to the CSR projects or programs undertaken by the Company in India, in relation to one or more activities outlined in Schedule VII of the Companies Act, 2013. The overview of projects or programs undertaken during the year under review, is provided in the table at item 5(c) below. The CSR Policy is available on the Company’s website ]Pa. www.htmedia.in

2.

Composition of CSR Committee – CSR Committee of Directors comprises of Smt. Shobhana Bhartia (Chairperson), Shri N. K. Singh and Shri Priyavrat Bhartia.

(]LYHNL UL[ WYVÄ[ VM [OL *VTWHU` MVY [OL SHZ[ ÄUHUJPHS `LHYZ! ` 16,144 Lacs

4.

Prescribed CSR expenditure (2% of amount as in item 3 above): ` 323 Lacs

+L[HPSZ VM *:9 ZWLU[ K\YPUN [OL ÄUHUJPHS `LHY!

H

;V[HS HTV\U[ [V IL ZWLU[ MVY [OL ÄUHUJPHS `LHY! ` 330 Lacs

b.

Amount unspent: Nil

c.

Manner in which the amount spent during FY 17 is detailed below:

Sl. CSR project or activity No. PKLU[PÄLK

Sector in which the project is covered

(` in Lacs) Amount Amount spent Cumulative Amount spent: Projects or programs outlay on the projects expenditure Direct or (1) Local area (budget) or programs upto the through project or reporting Implementing or Other Sub-heads: (2) Specify programs (1) Direct period Agency the state and wise expenditure district where on projects or projects or programs (2) Overheads program were undertaken Direct expenditure

1.

Execute projects in the education space for underprivileged children & women, including vocational training of youth, women & differently abled through various NGO Partners

(a) Integrated Community Development Program through Accelerated Learning Centre, early childhood care & development programme, mid-day meal, non-primary education to the PKLU[PÄLK JOPSKYLU HUK imparting vocational training to youth.

246.50

Clause (ii) of Schedule VII

246.50

246.50

Promoting healthcare, promoting education, including special education & employment enhancing vocation skills especially among children, women, elderly and the differently abled Faridabad, (Haryana) Noida, (U.P.) & Delhi (Local area)

Through Implementing Agency (Shine Foundation`126.50 Lacs)*

ANNUAL REPORT 2016-17

33

Sl. CSR project or activity No. PKLU[PÄLK

Sector in which the project is covered

(` in Lacs) Projects or Amount Amount spent Cumulative Amount spent: programs outlay on the projects expenditure Direct or (1) Local area (budget) or programs upto the through or Other project or Sub-heads: reporting Implementing programs period Agency (2) Specify (1) Direct the state and wise expenditure district where on projects or projects or programs program were (2) Overheads undertaken Direct expenditure

2.

3.

(b) Balwadi ProgrammePromoting early childhood education, physical, language, social and cognitive development among children (c) Sponsoring girls for vocational skills in a vocational training institute

Delhi (Local area)

(d) To support education of under privileged children

Delhi NCR (Local area)

(e) Every last child in schoolSponsoring the program to support school enrollment of children, run learning centres & workshops Sponsoring the Gallery of Hope at Partition Museum, housing the Z[VYPLZ HY[LMHJ[Z VMÄJPHS documents of partition era and subsequent exhibitions. To support education of under privileged children

Mumbai, Maharashtra (Local area)

Dehradun, Uttarakhand (Other area)

Clause (v) of Schedule VII Amritsar, Punjab Protection of national (Other area) heritage, art & culture including restoration of building and sites of historical importance.

50.00

50.00

Clause (ii) of Schedule VII Delhi NCR (Local area) Promoting education among children

33.50

33.50

330.00

330.00

Total

Through Implementing Agency (Pratham Delhi Education Initiative `50 Lacs)* Through Implementing Agency (Himalayan School Society `6 Lacs)* Through Implementing Agency (HT Foundation for Change `14 Lacs)* Through Implementing Agency (Save The Children `50 Lacs)* 50.00 Through Implementing Agency (The Teamwork Fine Arts Society)* 33.50 Through Implementing Agency (HT Foundation for Change) 330.00

*Amount contributed to the implementation agencies is being utilized by them in phased manner.

6.

0 U JHZL [OL *VTWHU` OHZ MHPSLK [V ZWLUK [^V WLY JLU[ VM [OL H]LYHNL UL[ WYVÄ[ VM [OL SHZ[ ÄUHUJPHS `LHYZ VY any part thereof, the Company shall provide the reasons for not spending the amount in its Board’s Report – Not Applicable

7.

The responsibility statement of the Corporate Social Responsibility Committee of the Board of Directors of the Company is given below: ‘The implementation and monitoring of Corporate Social Responsibility (CSR) Policy, is in compliance with CSR objectives and policy of the Company’.

Place: New Delhi Date: July 18, 2017

34

HT MEDIA LIMITED

(Rajiv Verma) *OPLM ,_LJ\[P]L 6MÄJLY

(Shobhana Bhartia) Chairperson of CSR Committee

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

Annexure - E to Board’s Report

Details pertaining to remuneration as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (i)

The ratio of remuneration of each Director to the median remuneration of the employees and the percentage increase PU YLT\ULYH[PVU VM LHJO +PYLJ[VY *OPLM ,_LJ\[P]L 6MÄJLY *OPLM -PUHUJPHS 6MÄJLY HUK *VTWHU` :LJYL[HY` PU [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO PZ HZ \UKLY

5HTL VM +PYLJ[VY 247 KLZPNUH[PVU Smt. Shobhana Bhartia *OHPYWLYZVU ,KP[VYPHS +PYLJ[VY Shri K.N. Memani 0UKLWLUKLU[ +PYLJ[VY Shri N.K. Singh 0UKLWLUKLU[ +PYLJ[VY Shri Vikram Singh Mehta 0UKLWLUKLU[ +PYLJ[VY Shri Shamit Bhartia$ 5VU L_LJ\[P]L +PYLJ[VY Shri Rajiv Verma *OPLM ,_LJ\[P]L 6MÇ‹JLY Shri Dinesh Mittal^ >OVSL [PTL +PYLJ[VY .YV\W .LULYHS *V\UZLS *VTWHU` :LJYL[HY` Shri Piyush Gupta .YV\W *OPLM -PUHUJPHS 6MÇ‹JLY

Remuneration for FY 17 (` 3HJZ

% increase in remuneration in FY 17

Ratio of remuneration of each Director to median remuneration of employees in FY 17 @

119.30»

-78.78%

18.76

12.70*

-4.51%

1.99

19.30*

-9.81%

3.03

11.20*

Not Applicable

1.76

312.77

Not Applicable

49.18

450.91#

12.40%

Not Applicable

256.90

17.66%

40.39

299.64

11.76%

Not Applicable

The median remuneration of employees of the Company during FY 17 was ` 6.36 lacs

@

»

0U ]PL^ VM [OL JOHSSLUNLZ MHJLK I` [OL TLKPH PUK\Z[Y` HUK [OL YLZ\S[HU[ WYLZZ\YL VU [OL YL]LU\L WYVÄ[Z VM [OL *VTWHU` :T[ :OVIOHUH )OHY[PH OHZ refunded ` 400 lacs out of the remuneration paid to her during FY 17, and has also foregone remuneration for the months of February & March, 2017 *VTWYPZLZ VM WYVÄ[ YLSH[LK JVTTPZZPVU HUK ZP[[PUN MLL MVY H[[LUKPUN )VHYK *VTTP[[LL TLL[PUNZ HZ HWWSPJHISL $ Ceased to be Joint Managing Director w.e.f. February 1, 2017 # Does not include bonus of ` 351.60 lacs paid in the current year relating to previous year ^ Appointed as Whole-time Director w.e.f. May 26, 2016. However, the above remuneration pertains to the period from April 1, 2016 to March 31, 2017 received as Key Managerial Personnel

Note: Perquisites have been valued as per Income Tax Act, 1961 (ii)

There was an increase of 6% in the median remuneration of employees of the Company in FY 17.

(iii)

As on March 31, 2017, there were 2,312 permanent employees on the rolls of the Company.

(iv) Average percentage increase in remuneration of employees, other than managerial personnel, during FY 17 is 6.6%. During the same period, percentage change in remuneration of managerial personnel is given in table above. ] 0[ PZ OLYLI` HMÄYTLK [OH[ [OL YLT\ULYH[PVU WHPK PZ HZ WLY [OL 9LT\ULYH[PVU 7VSPJ` HUK WOPSVZVWO` VM [OL *VTWHU`

ANNUAL REPORT 2016-17

35

Annexure - F to Board’s Report Form No. MGT - 9 EXTRACT OF ANNUAL RETURN For the financial year ended March 31, 2017 [Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I.

REGISTRATION AND OTHER DETAILS

Sl. No.

Particulars

Details

i ii iii iv v

*VYWVYH[L 0KLU[PÄJH[PVU 5\TILY *05 Registration Date Name of the Company Category/ Sub-Category of the Company (KKYLZZ VM [OL 9LNPZ[LYLK 6MÄJL HUK JVU[HJ[ KL[HPSZ

vi

Whether listed company

L22121DL2002PLC117874 December 3, 2002 HT Media Limited Public Company/Limited by Shares Hindustan Times House 18-20, Kasturba Gandhi Marg New Delhi – 110001 Tel: +91-11-66561608 Fax: +91-11-66561445 Email : investor@hindustantimes.com Yes/No

vii

Name, address and contact details of Registrar and Transfer Agent

II.

Karvy Computershare Private Limited Karvy Selenium Tower B, Plot no. 31 & 32 Financial District, Nanakramguda Serilingampally Mandal Hyderabad - 500032 Tel: +91-40-67162222, Fax: +91-40-23001153 Email : einward.ris@karvy.com

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY All the business activities contributing 10% or more of the total turnover of the Company shall be stated:-

Sl. No.

Name and Description of THPU WYVK\J[Z services

1 2

Printing and publishing of Newspapers FM Radio Broadcasting

NIC Code of [OL 7YVK\J[ Service

% to total turnover of the Company

181 & 581* 601*

85% 11%

:V\YJL! 5H[PVUHS 0UK\Z[YPHS *SHZZPÄJH[PVU

III.

PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

Sl. No.

Name and address of the Company

1

The Hindustan Times Limited* HT House 18-20, Kasturba Gandhi Marg New Delhi-110001 Hindustan Media Ventures Limited Budh Marg Patna – 800001 HT Music and Entertainment Company Limited Hindustan Times House 18-20, Kasturba Gandhi Marg New Delhi-110001

2

3

36

HT MEDIA LIMITED

*05 .35

/VSKPUN :\IZPKPHY` Associate

% of equity shares held

Applicable Section

U74899DL1927PLC000155

Holding

69.50

2(46)

L21090BR1918PLC000013

Subsidiary

74.30

2(87)

U92131DL2005PLC142194

Subsidiary

100.00

2(87)

A 4

5

6

7

8

9

10

11

12

13

14

15

01-15

About HT Media

HT Digital Media Holdings Limited Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 HT Education Limited Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 HT Learning Centers Limited@ Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 -PYLÅ` L =LU[\YLZ 3PTP[LK# Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 HT Mobile Solutions Limited# Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 HT Digital Information Private Limited (formerly ED World Private Limited) Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 Topmovies Entertainment Limited Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 HT Global Education Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001 HT Digital Streams Limited% Budh Marg Patna – 800001 HT Overseas Pte. Ltd.# 77A Boat Quay Singapore-049865 (Incorporated in Singapore) Sports Asia Pte. Ltd.** 77A Boat Quay Singapore-049865 (Incorporated in Singapore) India Education Services Private Limited Hindustan Times House 2nd Floor 18-20, Kasturba Gandhi Marg New Delhi-110001

B

16-58

C

Statutory Reports

59-290

Financial Statements

U74900DL2007PLC168717

Subsidiary

100.00

2(87)

U80902DL2008PLC177056

Subsidiary

100.00

2(87)

U80900DL2010PLC198772

Subsidiary

58.08@

2(87)

U74140DL2007PLC164566

Subsidiary

0.00

2(87)

U74900DL2009PLC187795

Subsidiary

0.00

2(87)

U74900DL2011PTC226816

Subsidiary

100.00

2(87)

U92120DL2013PLC252652

Subsidiary

100.00

2(87)

U80904DL2011NPL219159

Subsidiary

100.00

2(87)

U74900BR2015PLC025243

Subsidiary

57.17

2(87)

Foreign Company (20101750W)

Subsidiary

0.00

2(87)

Foreign Company (201615661Z)

Subsidiary

0.00

2(87)

U80301DL2011PTC226705

Associate (Joint Venture)

50.00

2(6)

*The Hindustan Times Limited is a subsidiary of Earthstone Holding (Two) Limited % Balance shares held by Hindustan Media Ventures Limited # Indirect subsidiary of HT Media Limited (shares held through HT Digital Media Holdings Limited) @ Balance shares held by HT Education Limited **50.50% shares will be held by HT Overseas

ANNUAL REPORT 2016-17

37

IV. (i)

SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) Category-wise Share Holding

Sl. No.

Category of Shareholders

No. of Shares held at the beginning of the year (Z VU Demat Physical

(A)

Promoters

(1)

Indian

(a)

Individual /HUF

(b)

Central Government

(c)

State Government(s)

(d)

Bodies Corporate

Total % of Total Shares

No. of Shares held at the end of the year (Z VU Demat Physical

Total % of Total Shares

% Change during the year

22

0

22

0.00

22

0

22

0.00

0.00

0

0

0

0.00

0

0

0

0.00

0.00

0

0

0.00

0

0

0

0.00

0.00

0 16,17,54,490

69.50

16,17,54,490

0

16,17,54,490

69.50

0.00

0 16,17,54,490

(e)

Banks/Financial Institutions

0

0

0

0.00

0

0

0

0.00

0.00

(f)

Any Others

0

0

0

0.00

0

0

0

0.00

0.00

0 16,17,54,512

69.50

16,17,54,512

0

16,17,54,512

69.50

0.00

(2)

Foreign

Sub-Total A(1)

16,17,54,512

(a)

NRIs -Individuals

0

0

0

0.00

0

0

0

0.00

0.00

(b)

Other-Individuals

0

0

0

0.00

0

0

0

0.00

0.00

22,581

0

22,581

0.01

22,581

0

22,581

0.01

0.00

0

0

0

0.00

0

0

0

0.00

0.00

(c)

Bodies Corporate

(d)

Banks/Financial Institutions

(e)

Others Sub-Total A(2)

Total shareholding of 7YVTV[LYZ ($( ( (B) Public Shareholding (1)

Institutions

(a)

Mutual Funds

(b)

Banks/ Financial Institutions

0

0

0

0.00

0

0

0

0.00

0.00

22,581

0

22,581

0.01

22,581

0

22,581

0.01

0.00

0 16,17,77,093

69.51

16,17,77,093

0

16,17,77,093

69.51

0.00

16,17,77,093

2,04,33,381

0

2,04,33,381

8.78

2,16,55,745

0

2,16,55,745

9.30

0.52

1,79,974

0

1,79,974

0.08

1,56,315

0

1,56,315

0.07

(0.01)

(c)

Central Government

0

0

0

0.00

0

0

0

0.00

0.00

(d)

State Government(s)

0

0

0

0.00

0

0

0

0.00

0.00

(e)

Venture Capital Funds

0

0

0

0.00

0

0

0

0.00

0.00

(f)

Insurance Companies

0

0

0

0.00

0

0

0

0.00

0.00

(g)

Foreign Institutional Investors (FIIs) Foreign Venture Capital Funds Others Sub-Total B(1) : Non-Institutions Bodies Corporate (i) Indian (ii) Overseas Individuals (i) Individual shareholders holding nominal share capital upto ` 1 Lac (ii) Individual shareholders holding nominal share capital in excess of ` 1 Lac Others (i) Clearing Members (ii) Non Resident Indians (iii) Trusts (iv) Smt. Namrata Bhartia (As Trustee of HT Media Employee Welfare Trust)* Sub-Total B(2)

2,89,23,190

0

2,89,23,190

12.42

1,69,25,416

0

1,69,25,416

7.27

(5.15)

0

0

0

0.00

0

0

0

0.00

0.00

0 4,95,36,545

0 0

0 4,95,36,545

0.00 21.28

0 3,87,37,476

0 0

0 3,87,37,476

0.00 16.64

0.00 (4.64)

61,36,703 0

0 0

61,36,703 0

2.63 0.00

1,27,71,520 0

0 0

1,27,71,520 0

5.49 0.00

2.86 0.00

56,43,952

13,142

56,57,094

2.43

83,63,650

16,886

83,80,536

3.60

1.17

58,83,929

0

58,83,929

2.53

68,78,948

0

68,78,948

2.95

0.42

3,91,153 11,37,427 80 22,28,290

0 0 0 0

3,91,153 11,37,427 80 22,28,290

0.17 0.49 0.00 0.96

4,10,331 15,63,920 200 22,28,290

0 0 0 0

4,10,331 15,63,920 200 22,28,290

0.18 0.67 0 0.96

0.01 0.18 0.00 0.00

(h) (i) (2) (a)

(b)

(c)

2,14,21,534

13,142

2,14,34,676

9.21

3,22,16,859

16,886

3,22,33,745

13.85

4.64

Total Public Shareholding 7,09,58,079 )$) ) 0 (C) Shares held by Custodians for GDRs & ADRs .YHUK ;V[HS ( ) * ! 23,27,35,172

13,142

7,09,71,221

30.49

7,09,54,335

16,886

7,09,71,221

30.49

0.00

0

0

0

0

0

0

0

0.00

13,142 23,27,48,314

100.00

23,27,31,428

16,886

23,27,48,314

100.00

0.00

0U [LYTZ VM :,)0 :OHYL )HZLK ,TWSV`LL )LULÄ[Z 9LN\SH[PVUZ [OL ZOHYLOVSKPUN VM :T[ 5HTYH[H )OHY[PH (Z ;Y\Z[LL VM /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ OHZ ILLU JH[LNVYPaLK \UKLY º5VU WYVTV[LY 5VU 7\ISPJ» JH[LNVY` PU [OL Z[VJR L_JOHUNL ÄSPUNZ /V^L]LY [V JVUMVYT [V [OL MVYTH[ VM -VYT 4.; [OL ZHTL OHZ been categorized under ‘Public’ category.

38

HT MEDIA LIMITED

A

01-15

B

About HT Media

16-58

Statutory Reports

C

59-290

Financial Statements

(ii) Shareholding of Promoters Sl. No.

Shareholder’s Name

Shareholding at the beginning of the year (Z VU

Shareholding at the end of the year (Z VU

No. of % of total % of Shares No. of Shares % of total % of Shares Shares Shares of the WSLKNLK Shares of the WSLKNLK company encumbered company encumbered to total to total shares shares

% change in shareholding during the year

1

The Hindustan Times Limited

16,17,54,490

69.50

0.00

16,17,54,490

69.50

0.00

2

Go4i.Com (Mauritius) Limited

22,581

0.01

0.00

22,581

0.01

0.00

0.00

3

Smt. Shobhana Bhartia

20*

0.00

0.00

20*

0.00

0.00

0.00

4

Shri Priyavrat Bhartia

1

0.00

0.00

1

0.00

0.00

0.00

5

Shri Shamit Bhartia

1

0.00

0.00

1

0.00

0.00

0.00

16,17,77,093

69.51

0.00

16,17,77,093

69.51

0.00

0.00

Total

0.00

*19 shares held as nominee of Go4i.com (Mauritius) Limited

(iii) Change in Promoters’ Shareholding – Nil (iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and holders of GDRs and ADRs) Sl. Name of Shareholders No.

1.

2.

3.

4.

5.

6.

7.

Shareholding No. of Shares

% of total shares of the Company

Cumulative shareholding during the year No. of Shares

% of total shares of the company

Government Pension Fund Global At the beginning of the year 97,85,517 4.20 97,85,517 Bought during the year 0 0.00 97,85,517 Sold during the year 28,25,517 1.21 69,60,000 At the end of the year 69,60,000 2.99 69,60,000 9LSPHUJL *HWP[HS ;Y\Z[LL *VTWHU` 3PTP[LK ( J [OYV\NO ]HYPV\Z ZJOLTLZ VM T\[\HS M\UKZ At the beginning of the year 93,35,114 4.01 93,35,114 Bought during the year 88,60,117 3.81 1,81,95,231 Sold during the year 1,05,42,208 4.53 76,53,023 At the end of the year 76,53,023 3.29 76,53,023 ICICI Lombard General Insurance Company Limited* At the beginning of the year 5,75,000 0.25 5,75,000 Bought during the year 72,37,933 3.11 78,12,933 Sold during the year 0 0.00 78,12,933 At the end of the year 78,12,933 3.36 78,12,933 -YHURSPU ;LTWSL[VU 4\[\HS -\UK ( J [OYV\NO ]HYPV\Z ZJOLTLZ VM T\[\HS M\UKZ At the beginning of the year 44,45,742 1.91 44,45,742 Bought during the year 80,41,310 3.46 1,24,87,052 Sold during the year 9,00,125 0.39 1,15,86,927 At the end of the year 1,15,86,927 4.98 1,15,86,927 Stichting Depositary APG Emerging Markets Equity Pool# At the beginning of the year 42,70,516 1.83 42,70,516 Bought during the year 0 0.00 42,70,516 Sold during the year 42,70,516 1.83 0 At the end of the year 0 0.00 0 Bajaj Allianz Life Insurance Company Limited At the beginning of the year 35,35,351 1.52 35,35,351 Bought during the year 90,000 0.04 36,25,351 Sold during the year 7,62,000 0.33 28,63,351 At the end of the year 28,63,351 1.23 28,63,351 Kuwait Investment Authority Fund 223# At the beginning of the year 32,38,161 1.39 32,38,161 Bought during the year 0 0.00 32,38,161 Sold during the year 32,38,161 1.39 0 At the end of the year 0 0.00 0

ANNUAL REPORT 2016-17

4.20 4.20 2.99 2.99 4.01 7.82 3.29 3.29 0.25 3.36 3.36 3.36 1.91 5.37 4.98 4.98 1.83 1.83 0.00 0.00 1.52 1.56 1.23 1.23 1.39 1.39 0.00 0.00

39

Sl. Name of Shareholders No.

8.

9.

10.

11.

12.

13.

14.

Shareholding No. of Shares

% of total shares of the Company

4PYHL (ZZL[ ;H_ :H]LY -\UK ( J [OYV\NO ]HYPV\Z ZJOLTLZ VM T\[\HS M\UKZ# At the beginning of the year 28,46,045 1.22 Bought during the year 0 0.00 Sold during the year 28,46,045 1.22 At the end of the year 0 0.00 +5) -\UK ( J +5) -\UK (ZPHU :THSS *HW# At the beginning of the year 23,00,000 0.99 Bought during the year 0 0.00 Sold during the year 23,00,000 0.99 At the end of the year 0 0.00 Smt. Namrata Bhartia (As Trustee of HT Media Employee Welfare Trust) At the beginning of the year 22,28,290 0.96 Bought during the year 0 0.00 Sold during the year 0 0.00 At the end of the year 22,28,290 0.96 Smt. Rohini Nilekani* At the beginning of the year 19,32,900 0.83 Bought during the year 3,00,000 0.13 Sold during the year 0 0.00 At the end of the year 22,32,900 0.96 Shri Nandan M Nilekani* At the beginning of the year 19,31,561 0.83 Bought during the year 0 0.00 Sold during the year 0 0.00 At the end of the year 19,31,561 0.83 :\UKHYHT 4\[\HS -\UK ( J [OYV\NO ]HYPV\Z ZJOLTLZ VM T\[\HS M\UKZ At the beginning of the year 18,32,309 0.79 Bought during the year 75,000 0.03 Sold during the year 75,000 0.03 At the end of the year 18,32,309 0.79 Danske Invest SICAV-SIF- Emerging and Frontier Markets SMID At the beginning of the year 18,53,448 0.80 Bought during the year 1,25,000 0.05 Sold during the year 3,68,800 0.16 At the end of the year 16,09,648 0.69

Cumulative shareholding during the year No. of Shares

% of total shares of the company

28,46,045 28,46,045 0 0

1.22 1.22 0.00 0.00

23,00,000 23,00,000 0 0

0.99 0.99 0.00 0.00

22,28,290 22,28,290 22,28,290 22,28,290

0.96 0.96 0.96 0.96

19,32,900 22,32,900 22,32,900 22,32,900

0.83 0.96 0.96 0.96

19,31,561 19,31,561 19,31,561 19,31,561

0.83 0.83 0.83 0.83

18,32,309 19,07,309 18,32,309 18,32,309

0.79 0.82 0.79 0.79

18,53,448 19,78,448 16,09,648 16,09,648

0.80 0.85 0.69 0.69

5V[ PU [OL SPZ[ VM [VW ZOHYLOVSKLYZ HZ VU (WYPS ;OL ZHTL OHZ ILLU YLÅLJ[LK HIV]L HZ [OL ZOHYLOVSKLY ^HZ VUL VM [OL [VW ZOHYLOVSKLYZ HZ VU March 31, 2017. # *LHZLK [V IL PU [OL SPZ[ VM [VW ZOHYLOVSKLYZ HZ VU 4HYJO ;OL ZHTL PZ YLÅLJ[LK HIV]L HZ [OL ZOHYLOVSKLY ^HZ VUL VM [OL [VW ZOHYLOVSKLYZ as on April 1, 2016.

Notes: 1. Year in the above table means the period from April 1, 2016 to March 31, 2017 2. Any member desirous of obtaining date-wise particulars of sale/purchase by the above shareholders may write to [OL *VTWHU` :LJYL[HY` H[ [OL 9LNPZ[LYLK 6MÄJL VM [OL *VTWHU`

40

HT MEDIA LIMITED

A

01-15

About HT Media

16-58

B

C

Statutory Reports

59-290

Financial Statements

(v) Shareholding of Directors and Key Managerial Personnel (KMP) Sl. 5HTL VM +PYLJ[VY 247 No.

1.

2.

3.

4.

5.

Cumulative Shareholding during the year

Shareholding No. of Shares

% of total shares of the Company

No. of Shares

Smt. Shobhana Bhartia (Chairperson & Editorial Director) At the beginning of the year* 20 0.00 Bought during the year Sold during the year At the end of the year 20 0.00 Shri Priyavrat Bhartia (Director) At the beginning of the year 1 0.00 Bought during the year Sold during the year At the end of the year 1 0.00 Shri Shamit Bhartia (Director) At the beginning of the year 1 0.00 Bought during the year Sold during the year At the end of the year 1 0.00 :OYP 9HQP] =LYTH *OPLM ,_LJ\[P]L 6MĂ„JLY At the beginning of the year 1 0.00 Bought during the year Sold during the year At the end of the year 1 0.00 Shri Dinesh Mittal (Whole-time Director, Group General Counsel & Company Secretary)# At the beginning of the year 1 0.00 Bought during the year Sold during the year At the end of the year 1 0.00

% of total shares of the Company

20 20 20 20

0.00 0.00 0.00 0.00

1 1 1 1

0.00 0.00 0.00 0.00

1 1 1 1

0.00 0.00 0.00 0.00

1 1 1 1

0.00 0.00 0.00 0.00

1 1 1 1

0.00 0.00 0.00 0.00

9LNPZ[LYLK V^ULYZOPW VM ZOHYLZ OLSK VU ILOHSM VM .V P JVT 4H\YP[P\Z 3PTP[LK ILULĂ„JPHS V^ULY # Appointed as Whole-time Director w.e.f. May 26, 2016

Note: Year in the above table means the period from April 1, 2016 to March 31, 2017

V.

INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but not due for payment

Indebtedness at the beginning of the ÄUHUJPHS `LHY i) Principal Amount ii) Interest due but not paid iii) Interest accrued but not due ;V[HS P PP PPP Change in Indebtedness during the ÄUHUJPHS `LHY • Additions • (Reduction) Net Change Indebtedness at the end of the ÄUHUJPHS `LHY i) Principal Amount ii) Interest due but not paid iii) Interest accrued but not due ;V[HS P PP PPP

Secured Loans excluding deposits

Unsecured Loans

Deposits

(` In Lacs) Total Indebtedness

7,163.28 7,163.28

84,514.75 121.87 84,636.62

-

91,678.03 121.87 91,799.90

86,850.26 (90,163.37) (3,313.11)

3,76,491.72 (3,64,090.73) 12,400.99

-

4,63,341.99 (4,54,254.11) 9,087.88

3,850.17 3,850.17

97,037.61 69.12 97,106.73

-

1,00,887.78 69.12 1,00,956.90

Note : Arithmetic difference in the above table is attributed to different exchange rates considered for conversion of foreign currency denominated loans into Indian Rupees. ANNUAL REPORT 2016-17

41

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL A.

Remuneration to Managing Director, Whole-time Directors and/or Manager (` in Lacs)

Sl. Particulars of remuneration No. 1.

2. 3. 4. 5.

5HTL VM 4+ >;+ 4HUHNLY Smt. Shobhana Bhartia Shri Shamit Bhartia Shri Dinesh Mittal (Chairperson & (Director)$ (WTD,GGCS & CS)^ Editorial Director)#

Gross salary (a) Salary as per provisions contained in Section 17(1) of the Income Tax Act, 1961 (b) Value of perquisites u/s 17(2) of the Income Tax Act, 1961 J 7YVÄ[Z PU SPL\ VM ZHSHY` \ Z 17(3) of the Income Tax Act, 1961 Stock Option (No. of options granted during the year) Sweat Equity Commission 6[OLYZ 9L[PYLTLU[ )LULÄ[Z Total (A) Ceiling as per the Act*

Total

80.00

288.00

125.22

493.22

3.30

3.17

1.22

7.69

-

-

-

-

-

-

-

-

36.00 119.30

21.60 312.77

7.66 134.10

65.26 566.17 807.99

#

0U ]PL^ VM [OL JOHSSLUNLZ MHJLK I` [OL TLKPH PUK\Z[Y` HUK [OL YLZ\S[HU[ WYLZZ\YL VU [OL YL]LU\L WYVÄ[Z VM [OL *VTWHU` :T[ :OVIOHUH )OHY[PH OHZ refunded ` 400 lacs out of the remuneration paid to her during FY 17, and has also foregone remuneration for the months of February & March, 2017 $ 9LSPUX\PZOLK VMÄJL VM 1VPU[ 4HUHNPUN +PYLJ[VY ^ L M -LIY\HY` *VU[PU\PUN HZ 5VU L_LJ\[P]L +PYLJ[VY ^Appointed as Whole-time Director w.e.f. May 26, 2016, hence remuneration is for the period from May 26, 2016 to March 31, 2017 VM 5L[ 7YVÄ[Z VM [OL *VTWHU` JHSJ\SH[LK HZ WLY :LJ[PVU VM [OL *VTWHUPLZ (J[

B.

Remuneration to other directors (` in Lacs)

Sl. Particulars of remuneration No. 1 Independent Directors

2

Name of Directors Shri K.N. Memani Shri N.K. Singh Shri Ajay Relan

• Fee for attending Board / Committee meetings • Commission • Others Total Other Non-executive Directors Total (B) ;V[HS 4HUHNLYPHS 9LT\ULYH[PVU ( ) Overall ceiling as per the Act*

2.70

9.30

10.00 10.00 12.70 19.30 No remuneration was paid during FY 17 12.70 19.30 -

VM 5L[ 7YVÄ[Z VM [OL *VTWHU` JHSJ\SH[LK HZ WLY :LJ[PVU VM [OL *VTWHUPLZ (J[

42

HT MEDIA LIMITED

-

Shri Vikram Singh Mehta

Total

1.20

13.20

10.00 11.20

30.00 43.20

11.20

43.20 609.37 888.79

A C.

01-15

B

About HT Media

16-58

C

Statutory Reports

59-290

Financial Statements

Remuneration to Key Managerial Personnel other than MD/Manager/WTD (` in Lacs)

Sl. Particulars of remuneration No.

1.

2. 3. 4. 5.

Gross salary (a) Salary as per provisions contained in Section 17(1) of the Income Tax Act, 1961 (b) Value of perquisites u/s 17(2) of the Income Tax Act, 1961 J 7YVÄ[Z PU SPL\ VM ZHSHY` \ Z 17(3) of the Income-Tax Act, 1961 Stock Option (No. of options granted during the year) Sweat Equity Commission 6[OLYZ 9L[PYLTLU[ )LULÄ[Z Total

Shri Rajiv Verma (Chief Executive 6MÄJLY

Key Managerial Personnel Shri Dinesh Mittal Shri Piyush Gupta (Whole-time Director, Group (Group Chief General Counsel & Company -PUHUJPHS 6MÄJLY Secretary)

Total

421.09

287.70

246.62

955.41

5.82

1.79

1.28

8.89

-

-

-

-

-

-

-

-

24.00 450.91@

10.15 299.64

9.00 256.90

43.15 1,007.45

Does not include bonus of ` 351.60 lacs paid in current year relating to previous year Key Managerial Personnel for full year, hence remuneration is for the period from April 1, 2016 to March 31, 2017

@ +

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: NIL

ANNUAL REPORT 2016-17

43

Annexure - G to Board’s Report CERTIFICATE OF COMPLIANCE OF CORPORATE GOVERNANCE

The Members HT Media Limited New Delhi

I have examined the compliance of conditions of Corporate Governance by HT Media Limited, for the year ended on March 31, 2017, as stipulated in Chapter IV of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The compliance of conditions of Corporate Governance is the responsibility of the management. My examination was limited to the procedures and implementation thereof, adopted by the Company for ensuring compliance of the conditions of the Corporate .V]LYUHUJL 0[ PZ ULP[OLY HU H\KP[ UVY HU L_WYLZZPVU VM VWPUPVU VU [OL ÄUHUJPHS Z[H[LTLU[Z VM [OL *VTWHU` In my opinion and to the best of my information and according to the explanations given to me, I certify that the Company has complied ^P[O [OL JVUKP[PVUZ VM *VYWVYH[L .V]LYUHUJL HZ Z[PW\SH[LK PU [OL WYV]PZPVUZ HZ ZWLJPÄLK PU *OHW[LY 0= VM :LJ\YP[PLZ HUK ,_JOHUNL )VHYK of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 0 M\Y[OLY Z[H[L [OH[ Z\JO JVTWSPHUJL PZ ULP[OLY HU HZZ\YHUJL HZ [V [OL M\[\YL ]PHIPSP[` VM [OL *VTWHU` UVY [OL LMÄJPLUJ` VY LMMLJ[P]LULZZ with which the management has conducted the affairs of the Company.

Place: New Delhi Date: May 18, 2017

44

HT MEDIA LIMITED

Sd/Arun Kumar Soni Company Secretary in Practice CP No. 1726

A

01-15

About HT Media

B

16-58

C

Statutory Reports

59-290

Financial Statements

Annexure - H to Board’s Report Information on conservation of energy, technology absorption and foreign exchange earnings & outgo as per Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014.

(A) CONSERVATION OF ENERGY(i)

Steps taken or impact on conservation of energy:

(ii) Benefits derived like product improvement, cost reduction, product development or import substitution: HT is now able to print glazed paper innovations for 4\TIHP ^P[O [OL L_PZ[PUN WYLZZ [OYV\NO <= YL[YVÄ[ In-house UV print facility has reduced the cost of UV printing, compared to outsourced printing in previous years, besides providing speedy response to market.

Actions were taken to use LED lighting and implement other energy saving initiatives e.g. improvement in JVTWYLZZLK HPY HUK /=(* LMÄJPLUJ` ^OPJO OH]L YLK\JLK factory electrical consumption by 1.5% (approx.) resulting into annual saving of ` 12 Lacs (approx.).

(ii) Steps taken by the company for utilizing alternate sources of energy: A long term agreement was signed with the vendor to install roof top 500 KW solar power system at Greater Noida factory. This will provide annual saving of `12 Lacs and reduce CO2 emission by 726 ton per annum.

(iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year) :

(iii) Capital investment on energy conservation equipment: All capex and operating investments for the solar power system were made by the vendor. The Company has signed a 20 years agreement with the vendor to share lower electricity unit cost savings generated by solar power vs. grid electricity.

(B) TECHNOLOGY ABSORPTION(i)

Efforts made towards technology absorption:

9L[YVÄ[[LK <= WYPU[PUN MHJPSP[` VU L_PZ[PUN 9LNPVTHU press at Mumbai factory to develop glazed newsprint print capability.

a)

Details of technology imported: UV curing system

b)

Year of import: 2015

c)

Whether the technology being fully absorbed : Yes

d)

If not fully absorbed, areas where absorption has not taken place, and the reasons thereof : Not applicable

(iv) Expenditure incurred on Research and Development: NIL

(C) FOREIGN EXCHANGE EARNINGS AND OUTGO –

-VYLPNU ,_JOHUNL LHYULK PU [LYTZ VM HJ[\HS PUÅV^Z during the year: ` 3,843.64 Lacs

-VYLPNU ,_JOHUNL V\[NV PU [LYTZ VM HJ[\HS V\[ÅV^Z during the year: ` 32,408.32 Lacs

ANNUAL REPORT 2016-17

45

REPORT ON CORPORATE GOVERNANCE 0U `V\Y *VTWHU` *VYWVYH[L .V]LYUHUJL LUJVTWHZZLZ ]HYPV\Z SLNHS JVU[YHJ[\HS HUK PU[LYUHS MYHTL^VYRZ [OH[ KLĂ„UL [OL VWLYH[PVUZ HUK PUĂ…\LUJL KLJPZPVU THRPUN ;OLZL MYHTL^VYRZ OH]L ILLU ZL[ ^P[O Z[YPJ[ HKOLYLUJL [V [OL WYPUJPWSLZ VM (JJV\U[HIPSP[` ;YHUZWHYLUJ` ;Y\Z[LLZOPW HUK ,MĂ„JPLUJ` ^OPJO HSZV \UKLYSPUL [OL *VTWHU`ÂťZ PU[LYMHJL ^P[O HSS P[Z stakeholders. A report on Corporate Governance, in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulationsâ€?), is outlined below.

BOARD OF DIRECTORS Composition of the Board In accordance with the SEBI Regulations, more than one-half of the Board of Directors comprises of Non-executive Directors. As on March 31, 2017, the Board comprised of eight Directors, including six Non-executive Directors. Your Company also complies with the requirement of at least one-half of the Board to comprise of Independent Directors. The Chairperson of the Board is an Executive (Woman) Director. The composition of the Board of Directors as on March 31, 2017, was as follows – Name of the Director

Date of appointment

PROMOTER DIRECTORS December 3, 2002 Smt. Shobhana Bhartia *OHPYWLYZVU ,KP[VYPHS +PYLJ[VY +LZPNUH[LK HZ 4HUHNPUN +PYLJ[VY Shri Priyavrat Bhartia October 28, 2005 5VU ,_LJ\[P]L +PYLJ[VY Shri Shamit Bhartia# December 3, 2002 5VU ,_LJ\[P]L +PYLJ[VY NON-EXECUTIVE INDEPENDENT DIRECTORS Shri K. N. Memani May 5, 2004 Shri N.K. Singh December 9, 2004 Shri Ajay Relan August 24, 2009 Shri Vikram Singh Mehta June 20, 2015 WHOLE-TIME DIRECTOR Shri Dinesh Mittal* May 26, 2016

Relationship between Directors, inter-se

+PYLJ[VY 0KLU[PĂ„JH[PVU Number (DIN)

Mother of Shri Priyavrat Bhartia and Shri Shamit Bhartia

00020648

Son of Smt. Shobhana Bhartia and Brother of Shri Shamit Bhartia Son of Smt. Shobhana Bhartia and Brother of Shri Priyavrat Bhartia

00020603 00020623

None None None None

00020696 00020669 00002632 00041197

None

00105769

#

9LSPUX\PZOLK [OL VMĂ„JL VM 1VPU[ 4HUHNPUN +PYLJ[VY ^ L M -LIY\HY` *VU[PU\PUN HZ 5VU ,_LJ\[P]L +PYLJ[VY * Appointed as Whole-time Director w.e.f. May 26, 2016

6\Y +PYLJ[VYZ OVSK X\HSPÄJH[PVUZ HUK WVZZLZZ YLX\PZP[L L_WLYPLUJL PU NLULYHS JVYWVYH[L THUHNLTLU[ ÄUHUJL SLNHS IHURPUN LJVUVTPJZ HUK V[OLY HSSPLK ÄLSKZ ^OPJO LUHISL [OLT [V JVU[YPI\[L LMMLJ[P]LS` [V [OL *VTWHU` +L[HPSLK WYVÄSL of each of the Directors is available on the Company’s website ]Pa. www.htmedia.in. None of the Director serve as Independent Director in more than seven listed companies, or three listed companies, in case he/she serves as Whole-time Director in any listed company. Two Non-executive Directors ]Pa Shri Priyavrat Bhartia and Shri Shamit Bhartia hold 1 Equity Share each, of the Company.

46

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

C

Statutory Reports

59-290

Financial Statements

DIRECTORS’ ATTENDANCE AND DIRECTORSHIPS HELD ;OL TLL[PUNZ VM [OL )VHYK HYL NLULYHSS` OLSK H[ [OL YLNPZ[LYLK VMÄJL VM [OL *VTWHU` PU 5L^ +LSOP +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO Ä]L )VHYK TLL[PUNZ ^LYL OLSK ;OL KL[HPSZ HYL HZ MVSSV^Z! Date of Board Meeting

Board strength

Number of Directors present

Number of Independent Directors present

7 8 8 8 8

6* 7* 7 6 8

4 out of 4 4 out of 4 3 out of 4 2 out of 4 4 out of 4

May 26, 2016@ May 26, 2016@ August 5, 2016 November 2, 2016 January 24, 2017

Two Board Meetings were held on May 26, 2016 *Shri Vikram Singh Mehta attended these meetings via video-conferencing

@

Attendance record of the Directors at the above Board Meetings and details of other Directorships/Committee positions held by them as on March 31, 2017, in Indian public limited companies, are as follows: Name of the Director

Smt. Shobhana Bhartia Shri K.N. Memani Shri N.K. Singh Shri Ajay Relan Shri Vikram Singh Mehta# Shri Priyavrat Bhartia Shri Shamit Bhartia Shri Dinesh Mittal*

Number of Board Meetings attended during FY 17

Number of other Directorships held

5 4 5 4 4 3 5 3

8 5 3 7 9 9 5

Committee positions held in other companies ^ Chairperson Member1 2 1 1 1

2 2 2 4 -

Only Audit Committee and Stakeholders’ Relationship Committee have been considered Does not include chairmanships # Participated in two Board meetings via video-conferencing *Appointed as Whole-time Director w.e.f. May 26, 2016 ^ 1

Smt. Shobhana Bhartia, Shri K.N. Memani, Shri Priyavrat Bhartia and Shri Dinesh Mittal attended the last Annual General Meeting of the Members of the Company held on September 20, 2016.

BOARD PROCEDURE Detailed agenda, setting out the business(es) to be transacted at the Board/Committee meeting(s) is supplied in advance and decisions are taken after due deliberations. In case where it is not practicable to forward the document(s) with the agenda papers, the same are circulated before the meeting or placed at the meeting. The Directors are provided with video-conferencing facility, as and when desired, to enable them to attend/participate in the Board/Committee meeting(s). 8\HSP[` KLIH[LZ HUK WHY[PJPWH[PVU I` HSS +PYLJ[VYZ HUK VMÄJPHSZ HYL LUJV\YHNLK H[ )VHYK *VTTP[[LL TLL[PUNZ ;OL )VHYK engages with the management during business reviews and provides constructive suggestions and guidance on various issues, including strategy, as required from time to time. The Board gives due attention to governance and compliance YLSH[LK PZZ\LZ PUJS\KPUN [OL LMÄJHJ` VM Z`Z[LTZ VM PU[LYUHS ÄUHUJPHS JVU[YVSZ YPZR THUHNLTLU[ H]VPKHUJL VM JVUÅPJ[ VM interest, and redressal of employee/ stakeholder grievances, among others. The information provided to the Board from time to time, PU[LY HSPH, includes the items mentioned under Regulation 17(7) of the SEBI Regulations.

ANNUAL REPORT 2016-17

47

DETAILS OF REMUNERATION PAID TO DIRECTORS +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO [OL 5VU L_LJ\[P]L 0UKLWLUKLU[ +PYLJ[VYZ ^LYL WHPK ZP[[PUN MLL @ ` 30,000/- per meeting, for attending meetings of the Board and Committee(s) thereof. The Non-executive Directors HYL HSZV LSPNPISL MVY WYVÄ[ YLSH[LK JVTTPZZPVU UV[ L_JLLKPUN VM [OL UL[ WYVÄ[Z VM [OL *VTWHU` MVY [OL ÄUHUJPHS `LHY computed in the manner prescribed under Companies Act, 2013, subject to a limit of ` 10 Lacs per Director per annum. *VUZPKLYPUN [OL ]HS\HISL JVU[YPI\[PVUZ THKL I` LHJO VM [OL 0UKLWLUKLU[ +PYLJ[VYZ [OL )VHYK KLJPKLK [V WH` WYVÄ[ YLSH[LK JVTTPZZPVU [V [OL 0UKLWLUKLU[ +PYLJ[VYZ VU \UPMVYT IHZPZ ;OL KL[HPSZ VM ZP[[PUN MLL WHPK HUK WYVÄ[ YLSH[LK commission paid/ payable to Directors during/for FY 17 are as underName of the Director

Shri K.N. Memani Shri N.K. Singh Shri Ajay Relan* Shri Vikram Singh Mehta Shri Priyavrat Bhartia@ Shri Shamit Bhartia@#

Sitting fee

(` in Lacs) Commission paid during FY 17 Commission payable for FY 17 WLY[HPUPUN [V WYVÄ[ MVY -@

2.70 9.30 Nil 1.20 Nil Nil

10.00 10.00 Nil 10.00 Nil Nil

10.00 10.00 Nil 10.00 Nil Nil

* Shri Ajay Relan has voluntarily decided not to accept sitting fee and commission @ ;OLZL +PYLJ[VYZ OH]L KLJPKLK UV[ [V HJJLW[ WYVÄ[ YLSH[LK JVTTPZZPVU # 9LSPUX\PZOLK [OL VMÄJL VM 1VPU[ 4HUHNPUN +PYLJ[VY ^ L M -LIY\HY` *VU[PU\PUN HZ 5VU L_LJ\[P]L +PYLJ[VY

The Chairperson & Editorial Director, the Joint Managing Director and the Whole-time Director were appointed for a period VM Ä]L `LHYZ MYVT [OLPY YLZWLJ[P]L KH[LZ VM HWWVPU[TLU[ ;OL KL[HPSZ VM YLT\ULYH[PVU WHPK [V :T[ :OVIOHUH )OHY[PH Chairperson & Editorial Director, Shri Shamit Bhartia, Joint Managing Director and Shri Dinesh Mittal, Whole-time Director, .YV\W .LULYHS *V\UZLS *VTWHU` :LJYL[HY` K\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO HYL HZ \UKLY! Name of the Director Smt. Shobhana Bhartia# Shri Shamit Bhartia@ Shri Dinesh Mittal* #

Salary & Allowances

Perquisites

(` in Lacs) 9L[PYLTLU[ ILULÄ[Z

80.00 288.00 125.22

3.30 3.17 1.22

36.00 21.60 7.66

0 U ]PL^ VM [OL JOHSSLUNLZ MHJLK I` [OL TLKPH PUK\Z[Y` HUK [OL YLZ\S[HU[ WYLZZ\YL VU [OL YL]LU\L WYVÄ[Z VM [OL *VTWHU` :T[ :OVIOHUH )OHY[PH OHZ refunded `400 lacs out of the remuneration paid to her during FY 17, and has also foregone remuneration for the months of February & March, 2017

@

9LSPUX\PZOLK [OL VMÄJL VM 1VPU[ 4HUHNPUN +PYLJ[VY ^ L M -LIY\HY` *VU[PU\PUN HZ 5VU L_LJ\[P]L +PYLJ[VY (JJVYKPUNS` [OL HIV]L YLT\ULYH[PVU PZ for the period from April 1, 2016 to January 31, 2017 *Appointed as Whole-time Director w.e.f. May 26, 2016. Accordingly, the above remuneration is for the period May 26, 2016 to March 31, 2017

Notes: 9L[PYLTLU[ ILULÄ[Z PUJS\KL JVU[YPI\[PVU [V 7YV]PKLU[ -\UK (2)

Chairperson & Editorial Director and the Joint Managing Director have not been paid any bonus. Shri Dinesh Mittal, Whole-time Director, Group General Counsel & Company Secretary has been granted Stock Options, details whereof are as under:

Particulars Date of grant No. of Options granted Vesting schedule No. of vested stock options at the end of FY 17 Exercise Price per Option (in `) Exercise Period

48

HT MEDIA LIMITED

HTML Employee Stock Option Scheme

HTML Employee Stock Option Scheme - 2009

25-Sep-2007 8-Oct-2009 63,119 48,633 Surrendered and Already vested cancelled in 2009 in 2011 48,633 117.55 Within 10 years from the date of vesting of last tranche of the options

A i. PP (3) (4) (5) (6)

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

Under both the schemes, each Option entitles the holder thereof to one equity share of ` 2/- each upon vesting/ exercise; ;OL 6W[PVUZ ^LYL NYHU[LK H[ [OL ¸THYRL[ WYPJL¹ HZ KLÄULK PU LYZ[^OPSL HWWSPJHISL :,)0 ,TWSV`LL :[VJR 6W[PVU Scheme and Employee Stock Purchase Scheme) Guidelines, 1999. Perquisites include car, telephone, medical reimbursements, club fee etc., calculated as per Income Tax Rules. Remuneration excludes provision for leave encashment and gratuity. There is no separate provision for payment of severance fees. There are two variable components in the remuneration drawn by Shri Dinesh Mittal, Whole-time Director, Group General Counsel & Company Secretary ]Pa. (a) Enterprise Goal Award – this is paid quarterly based on enterprise HJOPL]PUN [OL X\HY[LY [HYNL[Z ¶ SPURLK ^P[O YL]LU\L HUK ^P[O HJOPL]LTLU[ VM WYVÄ[" HUK I =HYPHISL 7LYMVYTHUJL )VU\Z [OPZ PZ SPURLK ^P[O WLYZVUHS SLHKLYZOPW WLYMVYTHUJL HUK JVU[YPI\[PVU V]LY [OL ÄUHUJPHS `LHY

During the year under review, none of the Non-executive Directors had any material pecuniary relationship or transactions ]PZ n ]PZ [OL *VTWHU` V[OLY [OHU WH`TLU[ VM ZP[[PUN MLL HUK WYVÄ[ YLSH[LK JVTTPZZPVU PM HU` HZ TLU[PVULK HIV]L

BOARD COMMITTEES As at year end, there were seven standing committees of the Board of Directors, which were delegated requisite powers to discharge their functions. The (a) (b) (c) (d) (e) (f) (g)

committees of the Board are as follows – Audit Committee Stakeholders’ Relationship Committee Nomination & Remuneration Committee Banking and Finance Committee Investment Committee Risk Management Committee Corporate Social Responsibility (CSR) Committee

;OL YVSL HUK JVTWVZP[PVU VM [OL JVTTP[[LLZ PUJS\KPUN [OL U\TILY VM TLL[PUNZ OLSK K\YPUN [OL ÄUHUJPHS `LHY LUKLK VU March 31, 2017 and attendance of Directors thereat, are given hereunder.

(a) Audit Committee Audit Committee of the Board of Directors comprised of four members, including three Independent Directors. The terms of reference of the Audit Committee are in accordance with the Companies Act, 2013 and the SEBI Regulations. The Audit Committee acts as a link between the Statutory and Internal Auditors and the Board of Directors of the Company. The role of Audit Committee, PU[LY HSPH PUJS\KLZ V]LYZPNO[ VM *VTWHU`»Z ÄUHUJPHS YLWVY[PUN WYVJLZZ HUK KPZJSVZ\YL VM ÄUHUJPHS PUMVYTH[PVU [V LUZ\YL [OH[ [OL ÄUHUJPHS Z[H[LTLU[Z HYL JVYYLJ[ Z\MÄJPLU[ HUK JYLKPISL" YLJVTTLUKPUN the appointment, re-appointment, remuneration and terms of appointment of auditors and approval of payment for V[OLY ZLY]PJLZ YLUKLYLK I` Z[H[\[VY` H\KP[VYZ" YL]PL^PUN ^P[O [OL THUHNLTLU[ X\HY[LYS` YLZ\S[Z HUK HUU\HS ÄUHUJPHS Z[H[LTLU[Z ILMVYL Z\ITPZZPVU [V [OL )VHYK MVY HWWYV]HS" HWWYV]HS VY Z\IZLX\LU[ TVKPÄJH[PVU VM [YHUZHJ[PVUZ ^P[O related parties; review and monitor the auditor’s independence and performance and effectiveness of audit process; scrutiny of inter corporate loans and investments; valuation of undertakings or assets of the Company, whenever it PZ ULJLZZHY`" L]HS\H[PVU VM PU[LYUHS ÄUHUJPHS JVU[YVSZ HUK YPZR THUHNLTLU[ Z`Z[LT" YL]PL^PUN ^P[O [OL THUHNLTLU[ performance of statutory and internal auditors and adequacy of the internal control systems; and reviewing the functioning of the whistle blower mechanism.

ANNUAL REPORT 2016-17

49

+\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO MV\Y TLL[PUNZ VM [OL (\KP[ *VTTP[[LL ^LYL OLSK ;OL JVTWVZP[PVU VM Audit Committee, date on which the meetings were held and attendance of Directors at the said meetings was as follows: Name of the Director

Shri K.N. Memani (Chairman) Shri N.K. Singh Shri Ajay Relan Shri Shamit Bhartia

Category

Meetings attended May 25 , 2016

August 5, 2016

November 2, 2016

January 24, 2017

9

9

-

9

-

9

9

9

9

-

9*

9

9

9

9

9

Non-executive Independent Director Non-executive Independent Director Non-executive Independent Director Non-executive Director

*Shri Ajay Relan chaired the meeting

The Chairman of the Audit Committee is a Non-executive Independent Director and Chartered Accountant by X\HSPÄJH[PVU /L H[[LUKLK [OL SHZ[ (UU\HS .LULYHS 4LL[PUN VM [OL *VTWHU` OLSK VU :LW[LTILY [V HKKYLZZ [OL ZOHYLOVSKLYZ» X\LYPLZ WLY[HPUPUN [V ÄUHUJPHS Z[H[LTLU[Z VM [OL *VTWHU`

(SS [OL TLTILYZ VM [OL (\KP[ *VTTP[[LL HYL ÄUHUJPHSS` SP[LYH[L ;OL (\KP[ *VTTP[[LL ZH[PZÄLZ [OL JYP[LYPH VM [^V [OPYK of its members being Independent Directors.

*OPLM ,_LJ\[P]L 6MÄJLY .YV\W *OPLM -PUHUJPHS 6MÄJLY HUK 0U[LYUHS (\KP[VY H[[LUKLK [OL TLL[PUNZ VM (\KP[ *VTTP[[LL The representatives of Auditors are permanent invitees to the meetings of Audit Committee. The Company Secretary acts as Secretary to the Committee.

(b) STAKEHOLDERS’ RELATIONSHIP COMMITTEE Stakeholders’ Relationship Committee (SRC) of the Board of Directors comprised of three Directors. The Chairman of the Committee is a Non-executive Independent Director.

+\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO UPUL TLL[PUNZ VM [OL :9* ^LYL OLSK ;OL JVTWVZP[PVU VM :9* date on which the meetings were held and attendance of Directors at the meetings was as follows: Name of the Director

Shri N.K. Singh (Chairman) Shri Ajay Relan

Shri Priyavrat Bhartia

Category

Meetings attended April 28, 2016

June 22, 2016

July 21, 2016

September 5, 2016

October 3, 2016

9

-

9

9

9

9

9

-

-

-

9*

-

-

9

9

9

9*

9*

9

9

9

9

-

9

-

9

9

Non-executive Independent Director Non-executive Independent Director Non-executive Director

November December December 3, 2016 1, 2016 21, 2016

March 1, 2017

*Shri Ajay Relan chaired these meetings

SRC has been constituted, PU[LY HSPH to supervise and look into the redressal of complaints of shareholders and other security holders of the Company, including complaints related to transfer of shares, non-receipt of Annual Report/declared dividends, etc. The Committee discharges such other function(s) as may be delegated by the Board from time to time.

:OYP +PULZO 4P[[HS >OVSL [PTL +PYLJ[VY .YV\W .LULYHS *V\UZLS HUK *VTWHU` :LJYL[HY` PZ [OL *VTWSPHUJL 6MÄJLY of the Company.

50

HT MEDIA LIMITED

A

01-15

B

About HT Media

16-58

C

Statutory Reports

59-290

Financial Statements

During the year under review, the status of redressal of investor complaints was as follows: Opening Balance

Received

Resolved

Closing Balance

0

19

19

0

The status of redressal of investors complaints is reported to the Board of Directors from time to time.

(c) NOMINATION & REMUNERATION COMMITTEE Nomination & Remuneration Committee (NRC) comprises of three Non-executive Directors. Chairman of NRC is a Non-executive Independent Director. Chairperson & Editorial Director is a permanent invitee to the meetings of NRC.

+\YPUN [OL Ă„UHUJPHS `LHY LUKLK VU 4HYJO H TLL[PUN VM 59* ^HZ OLSK VU 4H` ;OL JVTWVZP[PVU of NRC, date on which meeting was held and attendance of the Directors at the said meeting was as follows: Name of the Director Shri K.N. Memani (Chairman) Shri Priyavrat Bhartia Shri N.K. Singh

Category

Meeting on May 26, 2016 attended

Non-executive Independent Director Non-executive Director Non-executive Independent Director

9 9

The terms of reference of NRC are in accordance with the requirements of the Companies Act, 2013 and the SEBI Regulations, which, PU[LY HSPH PUJS\KL PKLU[PM`PUN WLYZVUZ ^OV HYL X\HSPĂ„LK [V ILJVTL KPYLJ[VYZ HUK ^OV TH` be appointed in senior management in accordance with the criteria laid down and recommend to the Board their appointment and removal; carry out evaluation of every director’s performance; formulate the criteria for determining X\HSPĂ„JH[PVUZ WVZP[P]LZ H[[YPI\[LZ HUK PUKLWLUKLUJL VM H KPYLJ[VY" YLJVTTLUK [V [OL )VHYK H WVSPJ` YLSH[PUN [V [OL remuneration for the directors, key managerial personnel and other employees; and administration and superintendence of the “HTML Employee Stock Option Schemeâ€? and “HTML Employee Stock Option Scheme 2009â€?. The Board of Directors, have adopted the Remuneration Policy for Directors, Senior Management Personnel including Key Managerial Personnel and other employees. The Remuneration Policy has been framed to attract, motivate and retain talent by offering an appropriate remuneration package, and also by way of providing a congenial & healthy work environment. Remuneration Policy is posted on Company’s website ]Pa. www.htmedia.in

(d) BANKING & FINANCE COMMITTEE Banking & Finance Committee (BFC) of the Board has been entrusted with functions/ vested with powers relating to IHURPUN HUK Ă„UHUJL TH[[LYZ +\YPUN [OL Ă„UHUJPHS `LHY LUKLK VU 4HYJO [OL )-* TL[ LPNO[ [PTLZ ;OL JVTWVZP[PVU VM *VTTP[[LL KH[L on which meetings were held and attendance of the Directors at the meetings was as follows: Name of the Director

Smt. Shobhana Bhartia (Chairperson) Shri N.K. Singh

Shri Shamit Bhartia

Category

Chairperson & Editorial Director Non-executive Independent Director Non-execuitve Director

Meetings attended May 30, 2016

July 20, 2016

August 04, 2016

September 01, 2016

November 21, 2016

January 10, 2017

February 06, 2017

February 23, 2017

9

9

9

9

9

9

9

9

9

-

-

-

9

9

-

-

-

9

9

9

9

-

9

9

(e) INVESTMENT COMMITTEE Investment Committee is entrusted with functions/ vested with powers of recommending to the Board for approval, the proposal(s) of prospective advertiser(s) body corporate(s), to invest in their share capital; approving proposals to acquire TV]HISL PTTV]HISL WYVWLY[` PLZ Z\IQLJ[ [V ZWLJPĂ„LK SPTP[Z" HUK HWWYV]PUN WYVWVZHS Z VM ZHSL VM LX\P[` YLSH[LK PUZ[Y\TLU[Z VY TV]HISL PTTV]HISL WYVWLY[` PLZ WYV]PKLK [OH[ [OL JVUZPKLYH[PVU VM ZHSL PZ ^P[OPU ZWLJPĂ„LK SPTP[Z

ANNUAL REPORT 2016-17

51

+\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO ÄM[LLU TLL[PUNZ VM [OL 0U]LZ[TLU[ *VTTP[[LL ^LYL OLSK ;OL composition of Investment Committee, date on which meetings were held and attendance of the Directors at the said meetings was as follows: Name of the Director

Meetings attended April 05, 2016

May 06, 2016

May 30, 2016

June 28, 2016

July 14, 2016

Smt. Shobhana Chairperson Bhartia & Editorial (Chairperson) Director

9

9

9

9

9

9

9

9

9

9

9

9

9

9

9

Shri N.K. Singh

9

9

9

9

9

-

9

9

9

9

9

9

9

-

-

9

9

9

9

9

9

9

9

9

9

9

-

-

9

9

Shri Priyavrat Bhartia

(f)

Category

Nonexecutive Independent Director Nonexecutive Director

July August August October November November January February March March 22, 05, 23, 18, 2016 04, 2016 21, 2016 10, 17, 2017 08, 29, 2016 2016 2016 2017 2017 2017

RISK MANAGEMENT COMMITTEE The Risk Management Committee is vested with the power to oversee risk assessment and management processes in the Company. +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO VUL TLL[PUN VM [OL 9PZR 4HUHNLTLU[ *VTTP[[LL ^HZ OLSK VU April 28, 2016. The composition of the Risk Management Committee and attendance of the Directors at the said meeting was as follows: Name of the Director Shri K.N. Memani (Chairman) Shri Priyavrat Bhartia Shri Dinesh Mittal*

Category

Meeting on April 28, 2016 attended

Non-executive Independent Director Non-executive Director Whole-time Director

9 9 Not applicable

*Shri Dinesh Mittal was inducted in the Committee w.e.f. May 26, 2016

The Company Secretary acts as Secretary to the Committee.

(g) CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE CSR Committee of the Board of Directors has been constituted in accordance with the requirements of Section 135 of the Companies Act, 2013. +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO VUL TLL[PUN VM [OL *:9 *VTTP[[LL ^HZ OLSK VU (\N\Z[ The composition of CSR Committee and attendance of the Directors at the said meeting was as follows: Name of the Director Smt. Shobhana Bhartia (Chairperson) Shri N.K. Singh Shri Priyavrat Bhartia

Category

Meeting on August 01, 2016 attended

Chairperson & Editorial Director Non-executive Independent Director Non-executive Director

9 9 9

.YV\W *OPLM 4HYRL[PUN 6MÄJLY PZ H WLYTHULU[ PU]P[LL [V [OL TLL[PUNZ VM *:9 *VTTP[[LL ;OL [LYTZ VM YLMLYLUJL VM the CSR Committee, PU[LY HSPH, include formulation of CSR Policy indicating the activities to be undertaken by the Company covered under Schedule VII to the Companies Act, 2013; recommending to the Board the CSR Policy & amount of expenditure on CSR activities; and to monitor the CSR Policy of the Company from time to time.

52

HT MEDIA LIMITED

A

01-15

B

About HT Media

16-58

C

Statutory Reports

59-290

Financial Statements

GENERAL BODY MEETINGS Details of date, time and venue of the last three Annual General Meetings are as under: Date & Time Venue Special resolution(s) passed

September 20, 2016 September 25, 2015 September 16, 2014 at 11.00 a.m. at 11.00 a.m. at 11.00 a.m. Sri Sathya Sai International Centre, Pragati Vihar, Lodhi Road, New Delhi – 110 003 • Approval of offer or invite subscriptions to Non – convertible Debentures/Bonds aggregating upto ` 400 Crore (enabling resolution – not implemented) • Adoption of new set of Articles of Association of the Company

• Appointment of Shri Dinesh Mittal as Whole-time Director of the Company

• Approval of payment of annual commission to the Non-executive Directors of the Company

None

• Approval of borrowing(s) in excess of aggregate of paid-up share capital and free reserves in terms of Section 180(1)(c) of the Companies Act, 2013 • Approval of offer or invite subscriptions to Non – convertible Debentures/Bonds aggregating upto ` 400 Crore (enabling resolution – not implemented) • Approval of transfer of ‘Hindustan’ and certain other Hindi publication related trademarks to Hindustan Media Ventures Limited (subsidiary company) • Appointment of Shri Shamit Bhartia as Managing Director (designated as Joint Managing Director) of the Company • Revision of remuneration of Shri Rajiv Verma, Whole-time Director of the Company

No Extra-ordinary General Meeting was held during the WHZ[ ÄUHUJPHS `LHYZ 5V :WLJPHS 9LZVS\[PVU YLX\PYPUN H 7VZ[HS )HSSV[ ^HZ WHZZLK K\YPUN [OL ÄUHUJPHS `LHY LUKLK March 31, 2017.

No penalty or stricture was imposed on the Company by any stock exchange, SEBI or other statutory authority for non-compliance on any matter related to capital markets, during last three years.

A proposal for alteration of the Objects Clause of Memorandum of Association of the Company shall be put up for approval of the members by way of passing Special Resolution, through Postal Ballot process to, PU[LY HSPH, align the existing Objects Clause of Memorandum of Association with the provisions of the Companies Act, 2013. The procedure of voting by Postal Ballot and other requisite details shall be provided in the postal ballot notice.

;OL *VTWHU` OHZ WYLWHYLK [OL ÄUHUJPHS Z[H[LTLU[Z to comply in all material respects with the Accounting :[HUKHYKZ UV[PÄLK \UKLY :LJ[PVU VM [OL *VTWHUPLZ Act, 2013, read with Companies (Accounts) Rules, 2014. ;OL *,6 *-6 JLY[PÄJH[L PU [LYTZ VM 9LN\SH[PVU VM [OL SEBI Regulations has been placed before the Board.

DISCLOSURES +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO HSS [YHUZHJ[PVUZ LU[LYLK PU[V ^P[O 9LSH[LK 7HY[PLZ HZ KLÄULK under the Companies Act, 2013 and the SEBI Regulations were in the ordinary course of business and on arm’s length [LYTZ ;OLYL ^LYL UV TH[LYPHSS` ZPNUPÄJHU[ [YHUZHJ[PVUZ ^P[O YLSH[LK WHY[PLZ [OH[ TH` OH]L H WV[LU[PHS JVUÅPJ[ ^P[O the interests of the Company at large. The required disclosures on related parties and transactions with them, is appearing in Note no. 36 of Standalone Annual Financial Statements. The Company has formulated the ‘Policy on Materiality of and dealing with Related Party Transactions’, which is posted on the Company’s website ]Pa. www.htmedia.in.

;OL 0UKLWLUKLU[ +PYLJ[VYZ OH]L [OL YLX\PZP[L X\HSPÄJH[PVUZ and experience which enable them to contribute effectively. Terms and conditions of appointment of Independent Directors are posted on Company’s website ]Pa. www.htmedia.in. The Company has complied with some of the non-mandatory requirements of the SEBI Regulations on Corporate Governance. In the spirit of good corporate governance, the Company sends quarterly ÄUHUJPHS YLZ\S[Z ]PH LTHPS [V [OL 4LTILYZ ^OVZL LTHPS address is registered with DP/Company, after they are approved by the Board of Directors and disseminated to the Stock Exchanges. The Auditors have submitted [OL (\KP[VY»Z 9LWVY[ ^P[O \UTVKPÄLK VWPUPVU VU [OL ÄUHUJPHS Z[H[LTLU[Z MVY [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO ;OL *OHPYWLYZVU»Z VMÄJL PZ ZLWHYH[L MYVT [OH[ VM [OL *OPLM ,_LJ\[P]L 6MÄJLY

ANNUAL REPORT 2016-17

53

The Company has framed a Whistle Blower Policy (Vigil Mechanism) to provide opportunity to the directors/ employees/stakeholders of the Company to report concerns about unethical behaviour, actual or suspected fraud by any Director and/or employee of the Company or any violation of the Company’s Code of Conduct. The policy provides for adequate safeguards against victimization of Whistle Blower. The Policy is posted on the Company’s website ]Pa. www.htmedia.in. During FY 17, no person was denied access to the Audit Committee. Newsprint is a critical raw material for the Company’s print business. The Company closely monitors the inventory levels & demand, across newsprint categories, to ensure uninterrupted supply. A dynamic strategy of newsprint sourcing from both, overseas and domestic markets is in place. With a decreasing global demand for newsprint, the prices of imported newsprint remained soft. However, the prices of domestic newsprint hardened due to increased raw material costs driven by demonetization. To avoid price Å\J[\H[PVU ZOVJRZ H O`IYPK TVKLS VM WSHUULK W\YJOHZLZ has been adopted, supported by long term commitments and spot purchases. The Company uses derivative products to hedge its forex exposure against imports, loans, investments and other payables whenever required. The Company does not have any major forex exposure on account of exports, receivable and other income. The details of foreign exchange exposures as on March 31, 2017 are disclosed in Note no. 40 to the Standalone Financial Statements. All subsidiary companies are Board managed, vested with the responsibility to manage the companies in the best interest of its stakeholders. The Company has formulated “Policy for determining Material Subsidiary(ies)” which is posted on the Company’s website ]Pa. www.htmedia.in.

leadership team and business & functional heads for better understanding of business strategy, operational performance, product offerings, marketing initiatives etc. Details regarding familiarization programme for Independent Directors is posted on the Company’s website ]Pa. www.htmedia.in.

MEETING OF INDEPENDENT DIRECTORS During the year, a meeting of Independent Directors was held on January 24, 2017 without the presence of Non-Independent Directors and members of the management.

CODE OF CONDUCT The Company has adopted a “Code of Conduct” governing the conduct of Directors and Senior Management Personnel which is available on the website of the Company ]Pa. www.htmedia.in. The Board Members and Senior Management Personnel are expected to adhere to the Code, and have accordingly, HMÄYTLK JVTWSPHUJL VM [OL ZHTL K\YPUN -@ ;OL KLJSHYH[PVU NP]LU I` *,6 HMÄYTPUN JVTWSPHUJL VM [OL *VKL by the Board Members and Senior Management Personnel of the Company during FY 17, is appearing at the end of this report as “Annexure –A”.

INSIDER TRADING In compliance of SEBI (Prohibition of Insider Trading Regulations), 2015, the Company has adopted the “Code of Conduct to Regulate, Monitor and Report Trading by the Insiders” and “Code for Fair Disclosure of Unpublished Price Sensitive Information”.

MEANS OF COMMUNICATION •

Financial results - The quarterly, half yearly and HUU\HS ÄUHUJPHS YLZ\S[Z VM [OL *VTWHU` HYL W\ISPZOLK in ‘Hindustan Times’ (English newspaper), ‘Hindustan’ (Hindi newspaper), and ‘Mint’ (English Business UL^ZWHWLY ;OL ÄUHUJPHS YLZ\S[Z HYL HSZV MVY^HYKLK to the investors via e-mail, where e-mail address is available. Investors are encouraged to avail this service / facility by providing their e-mail Id to DP / Company.

•

Company’s Website – Important shareholders’ PUMVYTH[PVU Z\JO HZ (UU\HS 9LWVY[ ÄUHUJPHS YLZ\S[Z etc. are displayed on the website of the Company ]Pa. www.htmedia.in.

•

6MÄJPHS 5L^Z YLSLHZLZ WYLZLU[H[PVUZ L[J ¶ 6MÄJPHS news releases, shareholding pattern, press releases and presentations made to Financial Analysts etc. are also available on the Company’s website.

•

:[VJR ,_JOHUNL ÄSPUNZ (SS PUMVYTH[PVUZ HYL ÄSLK electronically on online portal of BSE & NSE ]Pa. BSE Corporate Compliance & Listing Centre and NSE Electronic Application Processing System (NEAPS)the online portal of NSE.

During the year under review, the Company has JVTWSPLK ^P[O HSS THUKH[VY` YLX\PYLTLU[Z ZWLJPÄLK PU Regulation 17 to 27 and clause (b) to (i) of Regulation 46 (2) of the SEBI Regulations, as applicable.

PERFORMANCE EVALUATION Details regarding the process of evaluation of the performance of the Board, its Committees, individual +PYLJ[VYZ HUK [OL *OHPYWLYZVU MVY [OL ÄUHUJPHS `LHY LUKLK March 31, 2017, is provided in the Board’s Report.

FAMILIARIZATION PROGRAMME Your Company has put in place a structured induction and familiarization programme for Independent Directors. The Company, through such programme, familiarizes the Independent Directors with the background of the Company, nature of the industry in which the Company operates, business model, business operations, etc. The programme also includes interactive sessions with senior

54

HT MEDIA LIMITED

A •

01-15

About HT Media

Investor Conference Calls - Every quarter, post the HUUV\UJLTLU[ VM ÄUHUJPHS YLZ\S[Z JVUMLYLUJL JHSSZ are held with institutional investors and analysts. These calls are addressed by CEO, Group CFO and Head of Investor Relations. Transcripts of the calls are also posted on the website of the Company ]Pa. www.htmedia.in.

•

Management Discussion and Analysis - Management Discussion and Analysis covering the operations of the Company, forms part of this Annual Report.

•

Designated E-mail Id – The Company has a designated e-mail Id ]Pa. investor@hindustantimes. com, for sending investor requests/complaints.

GENERAL SHAREHOLDER INFORMATION 15th Annual General Meeting Day, Date & Time: Venue:

Monday, September 25, 2017 at 11.00 AM Siri Fort Auditorium I, A-25, Balbir Saxena Marg, Siri Fort Institutional Area, Gulmohar Park, New Delhi - 110049

FINANCIAL YEAR April 1 of each year to March 31 of next year.

Financial Calendar (Tentative) Results for quarter ending June 30, 2017 Results for quarter and half-year ending September 30, 2017 Results for quarter and nine months period ending December 31, 2017 Results for the quarter and year ending March 31, 2018 Annual General Meeting

Mid July, 2017 Mid October, 2017 Mid January, 2018 End May, 2018 Mid September, 2018

B

16-58

C

Statutory Reports

59-290

Financial Statements

Registrar and Share Transfer Agent Karvy Computershare Private Limited Karvy Selenium Tower B Plot No. 31 & 32 Financial District, Nanakramguda Serilingampally Mandal Hyderabad – 500 032 Tel: + 91-40-6716 2222 Fax: + 91-40-2300 1153 E-mail: einward.ris@karvy.com

SHARE TRANSFER SYSTEM The equity shares of the Company are compulsorily traded in demat form. Systems are in place to ensure that requests for transfer of shares in physical form are processed and K\S` [YHUZMLYYLK ZOHYL JLY[PÄJH[LZ HYL YL[\YULK [V [OL transferee within the time prescribed by law in the said behalf, subject to the share transfer documents being valid and complete in all respects. The Board has authorized the Stakeholders’ Relationship *VTTP[[LL [V Z\I KLSLNH[L P[Z WV^LYZ [V [OL 6MÄJLYZ VM [OL Company for prompt redressal of investor requests/complaints. As required under Regulation 7(3) of the SEBI Regulations, [OL *VTWHU` VI[HPUZ H JLY[PÄJH[L VU OHSM `LHYS` IHZPZ MYVT a Company Secretary-in-Practice, regarding share transfer MVYTHSP[PLZ ^OPJO PZ ÄSLK ^P[O [OL :[VJR ,_JOHUNLZ Listing of Equity Shares on Stock Exchanges and Stock Codes The Equity Shares of the Company are listed on the following Stock Exchanges: Name of the Stock Exchange

Book Closure The Book Closure period for the purpose of AGM and payment of dividend for FY 17 will be from Monday, September 18, 2017 to Monday, September 25, 2017 (both days inclusive).

Dividend Payment Date (Tentative) The Board of Directors of the Company have recommended a dividend @ ` 0.40 per Equity Share of ` 2/- each P L ' MVY [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO subject to the approval of the shareholders at the ensuing Annual General Meeting. The dividend, if approved, shall be paid/ despatched on or after Tuesday, the September 26, 2017.

BSE Limited (BSE) Phiroze Jeejeebhoy Towers, Dalal Street Mumbai - 400 001 National Stock Exchange of India Limited (NSE) Exchange Plaza, C-1, G-Block Bandra-Kurla Complex, Bandra (East) Mumbai - 400 051

:JYPW *VKL Trading Symbol 532662

HTMEDIA

;OL HUU\HS SPZ[PUN MLL MVY [OL ÄUHUJPHS `LHY OHZ been paid to both, BSE and NSE. The ISIN of the Equity Shares of the Company is ‘INE501G01024’.

ANNUAL REPORT 2016-17

55

Stock Price Data BSE HT MEDIA High Low (in `) (in `)

Month

Apr ’16 May ’16 Jun ’16 Jul ’16 Aug ’16 Sep ’16 Oct ’16 Nov ’16 Dec ’16 Jan ’17 Feb ’17 Mar ’17

90.90 91.00 84.00 87.95 93.40 90.00 95.35 96.30 79.00 86.95 88.00 86.85

74.60 79.00 75.00 77.10 76.00 78.15 81.50 70.50 69.50 72.50 80.00 80.65

NSE SENSEX

HT MEDIA High Low (in `) (in `)

High

Low

26,100.54 26,837.20 27,105.41 28,240.20 28,532.25 29,077.28 28,477.65 28,029.80 26,803.76 27,980.39 29,065.31 29,824.62

24,523.20 25,057.93 25,911.33 27,034.14 27,627.97 27,716.78 27,488.30 25,717.93 25,753.74 26,447.06 27,590.10 28,716.21

91.10 91.30 83.80 88.70 93.90 89.90 95.80 96.50 79.00 86.70 88.40 86.80

NIFTY 50 High Low

74.85 79.00 74.75 77.50 75.90 78.30 83.00 70.50 68.90 72.00 80.00 80.80

7,992.00 8,213.60 8,308.15 8,674.70 8,819.20 8,968.70 8,806.95 8,669.60 8,274.95 8,672.70 8,982.15 9,218.40

Performance in comparison to broad-based indices (month-end closing)

120

30000

100

25000

80

20000

60

15000

40

10000

20

5000

BSE SENSEX

HT Media Share (in `)

Movement of HT Media Share at BSE during FY 17

0

HT Media Share at BSE

Mar-17

Feb-17

Jan-17

Dec-16

Nov-16

Oct-16

Sep-16

Aug-16

Jul-16

Jun-16

May-16

Apr-16

0

BSE Sensex

Movement of HT Media Share at NSE during FY 17

120

10000

7000 6000 5000

40

4000 3000 2000

HT Media Share at NSE

56

HT MEDIA LIMITED

Nifty 50

Mar-17

Feb-17

Jan-17

Dec-16

Nov-16

Oct-16

Sep-16

Aug-16

Jul-16

Jun-16

May-16

0

Nifty 50

8000

80

Apr-16

HT Media Share (in `)

9000

7,516.85 7,678.35 7,927.05 8,287.55 8,518.15 8,555.20 8,506.15 7,916.40 7,893.80 8,133.80 8,537.50 8,860.10

A

01-15

B

About HT Media

16-58

Statutory Reports

C

59-290

Financial Statements

Distribution of Shareholding by size as on March 31, 2017 No. of Equity Shares held Upto 500 501 – 1,000 1,001 – 5,000 5,001 – 10,000 10,001 & above Total

No. of shareholders

% of total no. of shareholders

No. of Equity Shares held

% of total no. of Equity Shares

35,313 1,102 1,062 196 226 37,899

93.17 2.91 2.80 0.52 0.60 100.00

23,79,319 9,19,937 25,57,060 14,41,442 22,54,50,556 23,27,48,314

1.02 0.40 1.10 0.62 96.86 100.00

Category of Shareholders as on March 31, 2017 (in both physical and demat form) Category Promoters & Promoter Group (A) Public Shareholding (B) Banks, Financial Institutions and Insurance Companies Foreign Institutional Investors (FIIs) Mutual Funds Non-Resident Indians Bodies Corporate Public Clearing members HUF Others (Trusts) NBFC Total Public Shareholding (B) Non Promoter –Non Public (C) Shares held by Employes Trusts - Smt. Namrata Bhartia (As trustee of HT Media Employee Welfare Trust) ;V[HS :OHYLOVSKPUN ( ) *

No. of Equity Shares held

% of Shareholding

16,17,77,093

69.51

1,56,315 1,69,25,416 2,16,55,745 15,63,920 1,27,71,520 1,45,41,198 4,10,331 7,11,496 200 6,790 6,87,42,931

0.07 7.27 9.30 0.67 5.49 6.25 0.18 0.30 0.00 0.00 29.53

22,28,290

0.96

23,27,48,314

100.00

Dematerialization of shares and liquidity as on March 31, 2017 Category Equity Shares held in Demat form Equity Shares held in Physical form Total

No. of Equity Shares held

% of Shareholding

23,27,31,428 16,886 23,27,48,314

99.99 0.01 100.00

Details of un-credited shares since inception (i.e. IPO) Year 2005-06 2006-07*

Opening Balance at the beginning of FY No. of cases No. of shares 2,115 112 68

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17

63 54 41 36 36 36 36 36 36 36

39,940 1,931 (of face value of ` 10/- each) 5,970 (of face value of ` 2/- each) 5,545 4,780 3,750 3,215 3,215 3,215 3,215 3,215 3,215 3,215

Cases disposed off during relevant FY No. of cases No. of shares 2,003 44 5 9 13 5 0 0 0 0 0 0 0

38,009 737 (of face value of ` 10/- each) 425 (of face value of ` 2/- each) 765 1,030 535 0 0 0 0 0 0 0

Closing Balance as at the end of FY No. of cases No. of shares 112 68 63 54 41 36 36 36 36 36 36 36 36

1,931 1,194 (of face value of ` 10/- each) 5,545 (of face value of ` 2/- each) 4,780 3,750 3,215 3,215 3,215 3,215 3,215 3,215 3,215 3,215

* During FY 07, Equity Shares of face value of ` LHJO ^LYL Z\I KP]PKLK PU[V Ă„]L LX\P[` ZOHYLZ VM ` 2/- each

Note: The uncredited shares are lying in the suspense account in dematerialized form as per requirement of Regulation 39(4) of the SEBI Regulations. The voting rights on these shares shall remain frozen till the rightful owner of such shares claims the shares. ANNUAL REPORT 2016-17

57

5\TILY VM V\[Z[HUKPUN .+9Z (+9Z >HYYHU[Z VY HU` convertible instruments No GDRs/ADRs/Warrants or any convertible instruments have been issued by the Company during FY 17. Address for correspondence Company Secretary HT Media Limited Hindustan Times House 18-20, Kasturba Gandhi Marg New Delhi - 110 001 Tel: + 91 - 11 - 6656 1608 Fax: + 91 - 11 - 6656 1445 Email: investor@hindustantimes.com Website: www.htmedia.in *VTWSPHUJL 6MÄJLY Shri Dinesh Mittal Whole-time Director, Group General Counsel & Company Secretary Tel: + 91 -11 - 6656 1608 Company Registration Details ;OL *VTWHU` PZ YLNPZ[LYLK ^P[O [OL VMÄJL VM 9LNPZ[YHY of Companies, National Capital Territory of Delhi & Haryana, India. The Corporate Identity Number allotted to the Company by the Ministry of Corporate Affairs is L22121DL2002PLC117874.

(b)

Payment of Dividend Warrants - In order to prevent fraudulent encashment of dividend warrants, holders of shares in demat and physical form, are requested to provide their correct bank account details, to the DP or R&T Agent, as the case may be. R&T Agent and/or the Company will not entertain requests for noting of change of address/bank details/NECS Mandate in case of shares are held in demat form.

(2) Nomination facility In terms of Section 72 of the Companies Act, 2013, shareholders holding shares in demat and/or physical form may, in their own interest, register their nomination with the DP or R&T Agent, as the case may be. Plant Locations (as on March 31, 2017) City

Address

GREATER NOIDA Plot no. 8, Udyog Vihar, Greater Noida, Gautam Budh Nagar – 201 306 JALANDHAR B - 21, Industrial Focal Point Extension, Jalandhar – 140 004 MUMBAI Plot no. 6, TTC MIDC Industrial Area, Dighe, Thane-Belapur Road, Navi Mumbai – 400 708 MOHALI C-164-165, Phase VIII B, Industrial Focal Point, Mohali – 160 071 NOIDA B-2, Sector-63, Noida – 201 307

COMPLIANCE CERTIFICATE ( JLY[PÄJH[L KH[LK 4H` VM :OYP (Y\U 2\THY :VUP Company Secretary-in-Practice, regarding compliance of conditions of ‘Corporate Governance’ as stipulated under Schedule V of the SEBI Regulations, is annexed to the Board’s Report.

ADDITIONAL INFORMATION FOR SHAREHOLDERS (1) Payment of dividend Shareholders may kindly note the following: (a)

58

National Electronic Clearing Services (NECS) facility - Shareholders holding shares in electronic form and desirous of availing NECS facility, are requested to ensure that their correct bank details including MICR (Magnetic Ink Character Recognition) and IFSC (Indian Financial System Code) of the bank, is noted in the records of the Depository Participant (DP). Shareholders holding shares in physical form may contact the R&T Agent.

HT MEDIA LIMITED

Note: The above list does not include locations where printing of the Company’s publications is done on job- work basis.

ANNEXURE- A Declaration of Compliance with ‘Code of Conduct’ of the Company 0 9HQP] =LYTH *OPLM ,_LJ\[P]L 6MÄJLY VM [OL *VTWHU` KV OLYLI` JVUÄYT [OH[ HSS [OL )VHYK TLTILYZ HUK :LUPVY Management Personnel, of the Company have complied with [OL º*VKL VM *VUK\J[» K\YPUN [OL ÄUHUJPHS `LHY This declaration is based on and is in pursuance of the PUKP]PK\HS HMÄYTH[PVUZ YLJLP]LK PU ^YP[PUN MYVT [OL )VHYK members and the Senior Management Personnel of the Company.

Place: New Delhi Date: May 11, 2017

(Rajiv Verma) *OPLM ,_LJ\[P]L 6MÄJLY

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

INDEPENDENT AUDITOR’S REPORT To The Members of HT Media Limited

REPORT ON THE STANDALONE IND-AS FINANCIAL STATEMENTS We have audited the accompanying standalone Ind-AS ÄUHUJPHS Z[H[LTLU[Z VM /; 4LKPH 3PTP[LK ¸[OL *VTWHU`¹ ^OPJO JVTWYPZL [OL )HSHUJL :OLL[ HZ H[ 4HYJO [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ PUJS\KPUN [OL Z[H[LTLU[ VM 6[OLY *VTWYLOLUZP]L 0UJVTL [OL *HZO -SV^ :[H[LTLU[ HUK [OL :[H[LTLU[ VM *OHUNLZ PU ,X\P[` MVY [OL `LHY [OLU LUKLK HUK H Z\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ and other explanatory information.

MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS ;OL *VTWHU`»Z )VHYK VM +PYLJ[VYZ PZ YLZWVUZPISL MVY [OL TH[[LYZ Z[H[LK PU :LJ[PVU VM [OL *VTWHUPLZ (J[ ¸[OL (J[¹ ^P[O YLZWLJ[ [V [OL WYLWHYH[PVU VM [OLZL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L HUK MHPY ]PL^ VM [OL ÄUHUJPHS WVZP[PVU ÄUHUJPHS WLYMVYTHUJL PUJS\KPUN V[OLY JVTWYLOLUZP]L PUJVTL JHZO Ã…V^Z HUK JOHUNLZ PU LX\P[` VM [OL *VTWHU` PU HJJVYKHUJL ^P[O HJJV\U[PUN WYPUJPWSLZ NLULYHSS` HJJLW[LK PU 0UKPH PUJS\KPUN [OL 0UKPHU (JJV\U[PUN :[HUKHYKZ 0UK (: ZWLJPÄLK \UKLY ZLJ[PVU VM [OL (J[ YLHK ^P[O 9\SL VM [OL *VTWHUPLZ (JJV\U[Z 9\SLZ HUK [OL *VTWHUPLZ 0UKPHU (JJV\U[PUN :[HUKHYKZ 9\SLZ HZ HTLUKLK ;OPZ YLZWVUZPIPSP[` HSZV PUJS\KLZ THPU[LUHUJL VM HKLX\H[L accounting records in accordance with the provisions of [OL (J[ MVY ZHMLN\HYKPUN VM [OL HZZL[Z VM [OL *VTWHU` HUK for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and WY\KLU[" HUK [OL KLZPNU PTWSLTLU[H[PVU HUK THPU[LUHUJL VM HKLX\H[L PU[LYUHS ÄUHUJPHS JVU[YVS [OH[ ^LYL VWLYH[PUN effectively for ensuring the accuracy and completeness VM [OL HJJV\U[PUN YLJVYKZ YLSL]HU[ [V [OL WYLWHYH[PVU HUK WYLZLU[H[PVU VM [OL 0UK (: ÄUHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L HUK MHPY ]PL^ HUK HYL MYLL MYVT TH[LYPHS TPZZ[H[LTLU[ whether due to fraud or error.

AUDITOR’S RESPONSIBILITY Our responsibility is to express an opinion on these Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z IHZLK VU V\Y audit. We have taken into account the provisions of the (J[ [OL HJJV\U[PUN HUK H\KP[PUN Z[HUKHYKZ HUK TH[[LYZ ^OPJO HYL YLX\PYLK [V IL PUJS\KLK PU [OL H\KP[ YLWVY[ \UKLY [OL WYV]PZPVUZ VM [OL (J[ HUK [OL 9\SLZ THKL [OLYL\UKLY >L JVUK\J[LK V\Y H\KP[ VM [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z PU HJJVYKHUJL ^P[O [OL :[HUKHYKZ VU (\KP[PUN PZZ\LK I` [OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH

HZ ZWLJPÄLK \UKLY :LJ[PVU VM [OL (J[ ;OVZL :[HUKHYKZ YLX\PYL [OH[ ^L JVTWS` ^P[O L[OPJHS YLX\PYLTLU[Z and plan and perform the audit to obtain reasonable HZZ\YHUJL HIV\[ ^OL[OLY [OL ÄUHUJPHS Z[H[LTLU[Z HYL MYLL from material misstatement. An audit involves performing procedures to obtain audit L]PKLUJL HIV\[ [OL HTV\U[Z HUK KPZJSVZ\YLZ PU [OL ÄUHUJPHS statements. The procedures selected depend on the H\KP[VY»Z Q\KNTLU[ PUJS\KPUN [OL HZZLZZTLU[ VM [OL YPZRZ VM TH[LYPHS TPZZ[H[LTLU[ VM [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z ^OL[OLY K\L [V MYH\K VY LYYVY 0U THRPUN [OVZL YPZR HZZLZZTLU[Z [OL H\KP[VY JVUZPKLYZ PU[LYUHS ÄUHUJPHS JVU[YVS YLSL]HU[ [V [OL *VTWHU`»Z WYLWHYH[PVU VM [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made I` [OL *VTWHU`»Z +PYLJ[VYZ HZ ^LSS HZ L]HS\H[PUN [OL V]LYHSS WYLZLU[H[PVU VM [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z We believe that the audit evidence we have obtained is Z\MÄJPLU[ HUK HWWYVWYPH[L [V WYV]PKL H IHZPZ MVY V\Y H\KP[ VWPUPVU VU [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z

OPINION In our opinion and to the best of our information and HJJVYKPUN [V [OL L_WSHUH[PVUZ NP]LU [V \Z [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z NP]L [OL PUMVYTH[PVU YLX\PYLK I` [OL (J[ PU [OL THUULY ZV YLX\PYLK HUK NP]L H [Y\L HUK MHPY view in conformity with the accounting principles generally HJJLW[LK PU 0UKPH VM [OL Z[H[L VM HMMHPYZ VM [OL *VTWHU` HZ H[ 4HYJO P[Z WYVÄ[ PUJS\KPUN V[OLY JVTWYLOLUZP]L PUJVTL P[Z JHZO ÅV^Z HUK [OL JOHUNLZ PU LX\P[` MVY [OL year ended on that date.

EMPHASIS OF MATTER >L KYH^ H[[LU[PVU [V 5V[L VM [OL Z[HUKHSVUL ÄUHUJPHS statements in respect of the Scheme of Arrangement \ Z VM [OL *VTWHUPLZ (J[ IL[^LLU [OL *VTWHU` HUK /; +PNP[HS :[YLHTZ 3PTP[LK [OL :JOLTL HWWYV]LK I` [OL /VU»ISL /PNO *V\Y[Z VM +LSOP HUK 7H[UH (Z WLY [OL HWWYV]LK ZJOLTL [OL *VTWHU` OHZ MVSSV^LK [OL HWWSPJHISL (JJV\U[PUN :[HUKHYKZ ZWLJPÄLK \UKLY ZLJ[PVU VM [OL *VTWHUPLZ (J[ YLHK ^P[O 9\SL VM *VTWHUPLZ (JJV\U[Z 9\SLZ HUK V[OLY .LULYHSS` (JJLW[LK (JJV\U[PUN 7YPUJPWSLZ HZ VU [OL (WWVPU[LK +H[L P L 4HYJO ;OPZ PZ UV[ ZPTPSHY [V [OL HJJV\U[PUN HZ per the currently applicable Indian Accounting Standards 0UK (: WYLZJYPILK \UKLY :LJ[PVU VM [OL *VTWHUPLZ (J[ YLHK ^P[O YLSL]HU[ Y\SLZ PZZ\LK [OLYL\UKLY 6\Y VWPUPVU PZ UV[ X\HSPÄLK PU YLZWLJ[ [V [OPZ TH[[LY

ANNUAL REPORT 2016-17

59

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

(Z YLX\PYLK I` [OL *VTWHUPLZ (\KP[VY»Z YLWVY[ 6YKLY ¸[OL 6YKLY¹ PZZ\LK I` [OL *LU[YHS .V]LYUTLU[ VM 0UKPH PU [LYTZ VM Z\I ZLJ[PVU VM ZLJ[PVU VM [OL (J[ ^L NP]L PU [OL (UUL_\YL H Z[H[LTLU[ VU [OL TH[[LYZ ZWLJPÄLK PU WHYHNYHWOZ HUK VM [OL 6YKLY

Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z ¶ 9LMLY 5V[L J [V [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS statements;

PP

H >L OH]L ZV\NO[ HUK VI[HPULK HSS [OL PUMVYTH[PVU HUK explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

PPP ;OLYL OHZ ILLU UV KLSH` PU [YHUZMLYYPUN HTV\U[Z YLX\PYLK [V IL [YHUZMLYYLK [V [OL 0U]LZ[VY ,K\JH[PVU HUK 7YV[LJ[PVU -\UK I` [OL *VTWHU`

I 0U V\Y VWPUPVU WYVWLY IVVRZ VM HJJV\U[ HZ YLX\PYLK I` SH^ OH]L ILLU RLW[ I` [OL *VTWHU` ZV MHY HZ P[ appears from our examination of those books.

P]

(Z YLX\PYLK I` ZLJ[PVU VM [OL (J[ ^L YLWVY[ that:

J ;OL )HSHUJL :OLL[ :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ PUJS\KPUN [OL :[H[LTLU[ VM 6[OLY *VTWYLOLUZP]L 0UJVTL [OL *HZO -SV^ :[H[LTLU[ HUK :[H[LTLU[ VM *OHUNLZ PU ,X\P[` KLHS[ ^P[O I` [OPZ 9LWVY[ HYL PU agreement with the books of account ; K 0U V\Y VWPUPVU [OL HMVYLZHPK Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z JVTWS` ^P[O [OL (JJV\U[PUN :[HUKHYKZ ZWLJPÄLK \UKLY ZLJ[PVU VM [OL (J[ YLHK ^P[O 9\SL VM [OL *VTWHUPLZ (JJV\U[Z 9\SLZ *VTWHUPLZ 0UKPHU (JJV\U[PUN :[HUKHYKZ 9\SLZ HZ HTLUKLK" L 6U [OL IHZPZ VM ^YP[[LU YLWYLZLU[H[PVUZ YLJLP]LK MYVT [OL KPYLJ[VYZ HZ VU 4HYJO HUK [HRLU VU YLJVYK I` [OL )VHYK VM +PYLJ[VYZ UVUL VM [OL KPYLJ[VYZ PZ KPZX\HSPÄLK HZ VU 4HYJO MYVT ILPUN HWWVPU[LK HZ H KPYLJ[VY PU [LYTZ VM ZLJ[PVU VM the Act; M

>P[O YLZWLJ[ [V [OL HKLX\HJ` VM [OL PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN VM [OL *VTWHU` HUK [OL VWLYH[PUN LMMLJ[P]LULZZ VM Z\JO JVU[YVSZ YLMLY [V V\Y ZLWHYH[L 9LWVY[ PU ¸(UUL_\YL ¹ [V [OPZ YLWVY["

N >P[O YLZWLJ[ [V [OL V[OLY TH[[LYZ [V IL PUJS\KLK PU [OL (\KP[VY»Z 9LWVY[ PU HJJVYKHUJL ^P[O 9\SL VM [OL *VTWHUPLZ (\KP[ HUK (\KP[VYZ 9\SLZ PU our opinion and to the best of our information and according to the explanations given to us:

P

;OL *VTWHU` OHZ KPZJSVZLK [OL PTWHJ[ VM WLUKPUN SP[PNH[PVUZ VU P[Z ÄUHUJPHS WVZP[PVU PU P[Z

60

HT MEDIA LIMITED

;OL *VTWHU` OHZ THKL WYV]PZPVU HZ YLX\PYLK \UKLY [OL HWWSPJHISL SH^ VY HJJV\U[PUN Z[HUKHYKZ MVY TH[LYPHS MVYLZLLHISL SVZZLZ PM HU` VU SVUN [LYT JVU[YHJ[Z PUJS\KPUN KLYP]H[P]L JVU[YHJ[Z ¶ 9LMLY 5V[L [V [OL Z[HUKHSVUL 0UK (: ÄUHUJPHS statements;

;OL *VTWHU` OHZ WYV]PKLK YLX\PZP[L KPZJSVZ\YLZ PU 5V[L [V [OLZL Z[HUKHSVUL 0UK (: ÄUHUJPHS Z[H[LTLU[Z HZ [V [OL OVSKPUN VM :WLJPÄLK )HUR 5V[LZ VU 5V]LTILY HUK +LJLTILY HZ ^LSS HZ KLHSPUNZ PU :WLJPÄLK )HUR 5V[LZ K\YPUN [OL WLYPVK MYVT 5V]LTILY [V +LJLTILY )HZLK VU V\Y H\KP[ procedures and relying on the management representation regarding the holding and nature VM JHZO [YHUZHJ[PVUZ PUJS\KPUN :WLJPÄLK )HUR 5V[LZ ^L YLWVY[ [OH[ [OLZL KPZJSVZ\YLZ HYL in accordance with the books of accounts THPU[HPULK I` [OL *VTWHU` HUK HZ WYVK\JLK [V us by the Management.

OTHER MATTER We did not audit the total assets of ` SHJZ HZ H[ 4HYJO [V[HS YL]LU\L VM ` 5PS HUK UL[ JHZO PUÃ…V^Z amounting to ` SHJZ MVY [OL `LHY [OLU LUKLK PUJS\KLK PU [OL HJJVTWHU`PUN Z[HUKHSVUL ÄUHUJPHS Z[H[LTLU[Z PU YLZWLJ[ VM /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ º;Y\Z[» UV[ H\KP[LK I` \Z ^OVZL Z[HUKHSVUL ÄUHUJPHS Z[H[LTLU[Z HUK V[OLY ÄUHUJPHS PUMVYTH[PVU OHZ ILLU H\KP[LK I` V[OLY H\KP[VY HUK [OVZL YLWVY[ PZ M\YUPZOLK [V \Z 6\Y VWPUPVU PU so far as it relates to the affairs of the trust is based solely VU YLWVY[ VM V[OLY H\KP[VY 6\Y VWPUPVU PZ UV[ X\HSPÄLK PU respect of this matter. -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , , per Vishal Sharma Partner 4LTILYZOPW 5\TILY! Place of Signature : 5L^ +LSOP +H[L : 4H`

A

01-15

B

About HT Media

16-58

Statutory Reports

C

59-290

Financial Statements

ANNEXURE 1 REFERRED TO IN PARAGRAPH ‘REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS’ OF OUR REPORT OF EVEN DATE Re: HT Media Limited (‘the Company’) P H ;OL *VTWHU` OHZ THPU[HPULK WYVWLY YLJVYKZ ZOV^PUN M\SS WHY[PJ\SHYZ PUJS\KPUN X\HU[P[H[P]L KL[HPSZ HUK ZP[\H[PVU VM Ä_LK HZZL[Z P

In our opinion and according to the information HUK L_WSHUH[PVUZ NP]LU [V \Z [OLYL HYL UV SVHUZ guarantees and securities given in respect of which WYV]PZPVUZ VM ZLJ[PVU VM [OL *VTWHUPLZ (J[ are applicable and hence not commented upon.

I (SS Ä_LK HZZL[Z OH]L UV[ ILLU WO`ZPJHSS` ]LYPÄLK by the management during the year but there PZ H YLN\SHY WYVNYHTTL VM ]LYPÄJH[PVU ^OPJO PU V\Y VWPUPVU PZ YLHZVUHISL OH]PUN YLNHYK [V [OL ZPaL VM [OL *VTWHU` HUK [OL UH[\YL VM P[Z HZZL[Z No material discrepancies were noticed on such ]LYPÄJH[PVU

] ;OL *VTWHU` OHZ UV[ HJJLW[LK HU` KLWVZP[Z ^P[OPU [OL TLHUPUN VM :LJ[PVUZ [V VM [OL (J[ HUK [OL *VTWHUPLZ (JJLW[HUJL VM +LWVZP[Z 9\SLZ HZ HTLUKLK (JJVYKPUNS` [OL WYV]PZPVUZ VM JSH\ZL ] of the Order are not applicable.

J (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU I` [OL THUHNLTLU[ [OL [P[SL KLLKZ VM PTTV]HISL WYVWLY[PLZ PUJS\KLK PU WYVWLY[` WSHU[ HUK LX\PWTLU[ HYL OLSK PU [OL UHTL VM [OL company.

]P ;V [OL ILZ[ VM V\Y RUV^SLKNL HUK HZ L_WSHPULK [OL *LU[YHS .V]LYUTLU[ OHZ UV[ ZWLJPÄLK [OL THPU[LUHUJL VM JVZ[ YLJVYKZ \UKLY :LJ[PVU VM [OL *VTWHUPLZ (J[ MVY [OL WYVK\J[Z ZLY]PJLZ VM [OL *VTWHU`

PP ;OL THUHNLTLU[ OHZ JVUK\J[LK WO`ZPJHS ]LYPÄJH[PVU of inventory at reasonable intervals during the year and no material discrepancies were noticed on such WO`ZPJHS ]LYPÄJH[PVU

]PP H <UKPZW\[LK Z[H[\[VY` K\LZ PUJS\KPUN WYV]PKLU[ M\UK LTWSV`LLZ» Z[H[L PUZ\YHUJL PUJVTL [H_ ZHSLZ [H_ ZLY]PJL [H_ K\[` VM J\Z[VT ]HS\L HKKLK [H_ JLZZ HUK V[OLY Z[H[\[VY` K\LZ OH]L generally been regularly deposited with the appropriate authorities though there has been a slight delay in a few cases. The provisions relating to excise duty are not applicable to the *VTWHU`

P

PPP H (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU [V \Z [OL *VTWHU` OHZ UV[ NYHU[LK HU` SVHUZ ZLJ\YLK VY \UZLJ\YLK [V JVTWHUPLZ ÄYTZ Limited Liability Partnerships or other parties covered in the register maintained under section VM [OL *VTWHUPLZ (J[ (JJVYKPUNS` [OL WYV]PZPVUZ VM JSH\ZL PPP H I HUK J VM [OL 6YKLY HYL UV[ HWWSPJHISL [V [OL *VTWHU` HUK hence not commented upon. P] 0U V\Y VWPUPVU HUK HJJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU [V \Z WYV]PZPVUZ VM ZLJ[PVU VM [OL *VTWHUPLZ (J[ PU YLZWLJ[ VM PU]LZ[TLU[ made have been complied with by the company.

]PP I (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU [V \Z UV \UKPZW\[LK HTV\U[Z WH`HISL PU YLZWLJ[ VM WYV]PKLU[ M\UK LTWSV`LLZ» Z[H[L PUZ\YHUJL PUJVTL [H_ ZLY]PJL [H_ ZHSLZ [H_ K\[` VM J\Z[VTZ ]HS\L HKKLK [H_ JLZZ HUK V[OLY Z[H[\[VY` K\LZ ^LYL V\[Z[HUKPUN H[ [OL `LHY LUK for a period of more than six months from the date they became payable. The provisions relating to L_JPZL K\[` HYL UV[ HWWSPJHISL [V *VTWHU`

]PP J (JJVYKPUN [V [OL YLJVYKZ VM [OL *VTWHU` [OL K\LZ V\[Z[HUKPUN VM PUJVTL [H_ HUK ZLY]PJL [H_ VU HJJV\U[ VM any dispute are as follows: Name of Statute

Nature of Dues

0UJVTL ;H_ (J[ 0UJVTL ;H_ +LTHUK 0UJVTL ;H_ (J[ 0UJVTL ;H_ +LTHUK -PUHUJL (J[ :LY]PJL ;H_ +LTHUK

Amount (` Lacs)

Period to which the Forum where the dispute is pending amount relates

(@ *VTTPZZPVULY VM 0UJVTL ;H_ (WWLHSZ (@ *VTTPZZPVULY VM 0UJVTL ;H_ (WWLHSZ -@ [V *\Z[VTZ ,_JPZL HUK :LY]PJL ;H_ HUK Appellate Tribunal

According to the information and explanations given to \Z [OLYL HYL UV K\LZ VM ZHSLZ [H_ ^LHS[O [H_ K\[` VM J\Z[VTZ K\[` VM L_JPZL ]HS\L HKKLK [H_ HUK JLZZ ^OPJO have not been deposited on account of any dispute.

]PPP (JJVYKPUN [V PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU I` [OL THUHNLTLU[ ^L HYL VM [OL VWPUPVU [OH[ [OL *VTWHU` OHZ UV[ KLMH\S[LK PU YLWH`TLU[ VM K\LZ [V H ÄUHUJPHS PUZ[P[\[PVU IHUR VY NV]LYUTLU[ ;OL

ANNUAL REPORT 2016-17

61

*VTWHU` KPK UV[ OH]L HU` V\[Z[HUKPUN KLILU[\YLZ during the year. P_ (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU I` [OL THUHNLTLU[ [OL *VTWHU` OHZ UV[ YHPZLK HU` money byway of initial public offer / further public offer KLI[ PUZ[Y\TLU[Z HUK [LYT SVHUZ OLUJL YLWVY[PUN \UKLY JSH\ZL P_ PZ UV[ HWWSPJHISL [V [OL *VTWHU` HUK hence not commented upon. _ )HZLK \WVU [OL H\KP[ WYVJLK\YLZ WLYMVYTLK MVY [OL purpose of reporting the true and fair view of the ÄUHUJPHS Z[H[LTLU[Z HUK HJJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU I` [OL THUHNLTLU[ ^L report that no fraud by the company or no fraud on [OL JVTWHU` I` [OL VMÄJLYZ HUK LTWSV`LLZ VM [OL *VTWHU` OHZ ILLU UV[PJLK VY YLWVY[LK K\YPUN [OL year. _P (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU I` [OL THUHNLTLU[ ^L YLWVY[ [OH[ [OL THUHNLYPHS remuneration has been paid / provided in accordance ^P[O [OL YLX\PZP[L HWWYV]HSZ THUKH[LK I` [OL WYV]PZPVUZ VM ZLJ[PVU YLHK ^P[O :JOLK\SL = [V [OL *VTWHUPLZ (J[ _PP 0U V\Y VWPUPVU [OL *VTWHU` PZ UV[ H UPKOP JVTWHU` ;OLYLMVYL [OL WYV]PZPVUZ VM JSH\ZL _PP VM [OL VYKLY HYL UV[ HWWSPJHISL [V [OL *VTWHU` HUK OLUJL UV[ commented upon. _PPP (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU I` [OL THUHNLTLU[ [YHUZHJ[PVUZ ^P[O [OL YLSH[LK

62

HT MEDIA LIMITED

WHY[PLZ HYL PU JVTWSPHUJL ^P[O ZLJ[PVU HUK VM *VTWHUPLZ (J[ ^OLYL HWWSPJHISL HUK [OL KL[HPSZ OH]L ILLU KPZJSVZLK PU [OL UV[LZ [V [OL ÄUHUJPHS Z[H[LTLU[Z HZ YLX\PYLK I` [OL HWWSPJHISL HJJV\U[PUN standards. _P] (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU to us and on an overall examination of the balance ZOLL[ [OL JVTWHU` OHZ UV[ THKL HU` WYLMLYLU[PHS allotment or private placement of shares or fully or partly convertible debentures during the year under review and hence not commented upon. _] (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU I` [OL THUHNLTLU[ [OL *VTWHU` OHZ UV[ LU[LYLK into any non-cash transactions with directors or persons connected with him as referred to in section VM *VTWHUPLZ (J[ _]P (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVUZ NP]LU [V \Z [OL WYV]PZPVUZ VM ZLJ[PVU 0( VM [OL 9LZLY]L )HUR VM 0UKPH (J[ HYL UV[ HWWSPJHISL [V [OL *VTWHU` -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , , per Vishal Sharma Partner 4LTILYZOPW 5\TILY! Place of Signature : 5L^ +LSOP +H[L : 4H`

A

01-15

About HT Media

B

16-58

C

Statutory Reports

59-290

Financial Statements

ANNEXURE 2 TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE STANDALONE FINANCIAL STATEMENTS OF HT MEDIA LIMTED Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Actâ€?) >L OH]L H\KP[LK [OL PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN VM /; 4LKPH 3PTP[LK ¸[OL *VTWHU`š HZ VM 4HYJO PU JVUQ\UJ[PVU ^P[O V\Y H\KP[ VM [OL Z[HUKHSVUL Ă„UHUJPHS Z[H[LTLU[Z VM [OL *VTWHU` MVY [OL `LHY LUKLK VU [OH[ KH[L

MANAGEMENT’S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS ;OL *VTWHU`Z 4HUHNLTLU[ PZ YLZWVUZPISL MVY LZ[HISPZOPUN HUK THPU[HPUPUN PU[LYUHS ÄUHUJPHS JVU[YVSZ IHZLK VU [OL PU[LYUHS JVU[YVS V]LY ÄUHUJPHS YLWVY[PUN JYP[LYPH LZ[HISPZOLK I` [OL *VTWHU` JVUZPKLYPUN [OL LZZLU[PHS JVTWVULU[Z VM PU[LYUHS JVU[YVS Z[H[LK PU [OL .\PKHUJL 5V[L VU (\KP[ VM 0U[LYUHS -PUHUJPHS *VU[YVSZ 6]LY -PUHUJPHS 9LWVY[PUN PZZ\LK I` [OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH ;OLZL YLZWVUZPIPSP[PLZ PUJS\KL [OL KLZPNU PTWSLTLU[H[PVU HUK THPU[LUHUJL VM HKLX\H[L PU[LYUHS ÄUHUJPHS JVU[YVSZ [OH[ were operating effectively for ensuring the orderly and LMÄJPLU[ JVUK\J[ VM P[Z I\ZPULZZ PUJS\KPUN HKOLYLUJL [V [OL *VTWHU`Z WVSPJPLZ [OL ZHMLN\HYKPUN VM P[Z HZZL[Z [OL WYL]LU[PVU HUK KL[LJ[PVU VM MYH\KZ HUK LYYVYZ [OL HJJ\YHJ` HUK JVTWSL[LULZZ VM [OL HJJV\U[PUN YLJVYKZ HUK [OL [PTLS` WYLWHYH[PVU VM YLSPHISL ÄUHUJPHS PUMVYTH[PVU HZ YLX\PYLK \UKLY [OL *VTWHUPLZ (J[

AUDITOR’S RESPONSIBILITY 6\Y YLZWVUZPIPSP[` PZ [V L_WYLZZ HU VWPUPVU VU [OL *VTWHU`ÂťZ PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN IHZLK on our audit. We conducted our audit in accordance with [OL .\PKHUJL 5V[L VU (\KP[ VM 0U[LYUHS -PUHUJPHS *VU[YVSZ 6]LY -PUHUJPHS 9LWVY[PUN [OL ¸.\PKHUJL 5V[Lš HUK [OL :[HUKHYKZ VU (\KP[PUN HZ ZWLJPĂ„LK \UKLY ZLJ[PVU VM [OL *VTWHUPLZ (J[ [V [OL L_[LU[ HWWSPJHISL [V HU H\KP[ VM PU[LYUHS Ă„UHUJPHS JVU[YVSZ HUK IV[O PZZ\LK I` [OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH ;OVZL :[HUKHYKZ HUK [OL .\PKHUJL 5V[L YLX\PYL [OH[ ^L JVTWS` ^P[O L[OPJHS YLX\PYLTLU[Z HUK WSHU HUK WLYMVYT [OL H\KP[ [V VI[HPU YLHZVUHISL HZZ\YHUJL HIV\[ ^OL[OLY HKLX\H[L PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN ^HZ established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit L]PKLUJL HIV\[ [OL HKLX\HJ` VM [OL PU[LYUHS Ă„UHUJPHS JVU[YVSZ Z`Z[LT V]LY Ă„UHUJPHS YLWVY[PUN HUK [OLPY VWLYH[PUN LMMLJ[P]LULZZ 6\Y H\KP[ VM PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN PUJS\KLK VI[HPUPUN HU \UKLYZ[HUKPUN VM PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN HZZLZZPUN [OL YPZR [OH[ H TH[LYPHS ^LHRULZZ L_PZ[Z HUK [LZ[PUN HUK evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures ZLSLJ[LK KLWLUK VU [OL H\KP[VYÂťZ Q\KNLTLU[ PUJS\KPUN [OL assessment of the risks of material misstatement of the Ă„UHUJPHS Z[H[LTLU[Z ^OL[OLY K\L [V MYH\K VY LYYVY We believe that the audit evidence we have obtained is Z\MĂ„JPLU[ HUK HWWYVWYPH[L [V WYV]PKL H IHZPZ MVY V\Y H\KP[ VWPUPVU VU [OL PU[LYUHS Ă„UHUJPHS JVU[YVSZ Z`Z[LT V]LY Ă„UHUJPHS YLWVY[PUN

MEANING OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING ( JVTWHU`ÂťZ PU[LYUHS Ă„UHUJPHS JVU[YVS V]LY Ă„UHUJPHS YLWVY[PUN is a process designed to provide reasonable assurance YLNHYKPUN [OL YLSPHIPSP[` VM Ă„UHUJPHS YLWVY[PUN HUK [OL WYLWHYH[PVU VM Ă„UHUJPHS Z[H[LTLU[Z MVY L_[LYUHS W\YWVZLZ PU accordance with generally accepted accounting principles. ( JVTWHU`ÂťZ PU[LYUHS Ă„UHUJPHS JVU[YVS V]LY Ă„UHUJPHS YLWVY[PUN PUJS\KLZ [OVZL WVSPJPLZ HUK WYVJLK\YLZ [OH[ WLY[HPU [V [OL THPU[LUHUJL VM YLJVYKZ [OH[ PU YLHZVUHISL KL[HPS HJJ\YH[LS` HUK MHPYS` YLĂ…LJ[ [OL [YHUZHJ[PVUZ HUK KPZWVZP[PVUZ VM [OL HZZL[Z VM [OL JVTWHU`" WYV]PKL reasonable assurance that transactions are recorded as ULJLZZHY` [V WLYTP[ WYLWHYH[PVU VM Ă„UHUJPHS Z[H[LTLU[Z PU HJJVYKHUJL ^P[O NLULYHSS` HJJLW[LK HJJV\U[PUN WYPUJPWSLZ and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; HUK WYV]PKL YLHZVUHISL HZZ\YHUJL YLNHYKPUN WYL]LU[PVU VY [PTLS` KL[LJ[PVU VM \UH\[OVYPZLK HJX\PZP[PVU \ZL VY KPZWVZP[PVU VM [OL JVTWHU`ÂťZ HZZL[Z [OH[ JV\SK OH]L H TH[LYPHS LMMLJ[ VU [OL Ă„UHUJPHS Z[H[LTLU[Z

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING )LJH\ZL VM [OL PUOLYLU[ SPTP[H[PVUZ VM PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN PUJS\KPUN [OL WVZZPIPSP[` VM JVSS\ZPVU VY PTWYVWLY THUHNLTLU[ V]LYYPKL VM JVU[YVSZ material misstatements due to error or fraud may occur and UV[ IL KL[LJ[LK (SZV WYVQLJ[PVUZ VM HU` L]HS\H[PVU VM [OL PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN [V M\[\YL WLYPVKZ HYL Z\IQLJ[ [V [OL YPZR [OH[ [OL PU[LYUHS Ă„UHUJPHS JVU[YVS V]LY Ă„UHUJPHS YLWVY[PUN TH` ILJVTL PUHKLX\H[L ILJH\ZL VM JOHUNLZ PU JVUKP[PVUZ VY [OH[ [OL KLNYLL VM compliance with the policies or procedures may deteriorate.

OPINION 0U V\Y VWPUPVU [OL *VTWHU` OHZ PU HSS TH[LYPHS YLZWLJ[Z HU HKLX\H[L PU[LYUHS Ă„UHUJPHS JVU[YVSZ Z`Z[LT V]LY Ă„UHUJPHS YLWVY[PUN HUK Z\JO PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN ^LYL VWLYH[PUN LMMLJ[P]LS` HZ H[ 4HYJO IHZLK VU [OL PU[LYUHS JVU[YVS V]LY Ă„UHUJPHS YLWVY[PUN JYP[LYPH LZ[HISPZOLK I` [OL *VTWHU` JVUZPKLYPUN [OL LZZLU[PHS JVTWVULU[Z VM PU[LYUHS JVU[YVS Z[H[LK PU [OL .\PKHUJL 5V[L VU (\KP[ VM 0U[LYUHS -PUHUJPHS *VU[YVSZ 6]LY -PUHUJPHS 9LWVY[PUN PZZ\LK I` [OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , , per Vishal Sharma Partner 4LTILYZOPW 5\TILY! Place of Signature : 5L^ +LSOP +H[L : 4H`

ANNUAL REPORT 2016-17

63

BALANCE SHEET AS AT MARCH 31, 2017 Particulars I 1)

2)

II 1)

2)

ASSETS Non-current assets H 7YVWLY[` WSHU[ HUK LX\PWTLU[ I *HWP[HS ^VYR PU WYVNYLZZ J 0U]LZ[TLU[ WYVWLY[` K 0U[HUNPISL HZZL[Z L 0U[HUNPISL HZZL[Z \UKLY KL]LSVWTLU[ M 0U]LZ[TLU[ PU Z\IZPKPHYPLZ N -PUHUJPHS HZZL[Z P 0U]LZ[TLU[Z PP 3VHUZ PPP 6[OLY ÄUHUJPHS HZZL[Z O 0UJVTL ;H_ (ZZL[Z 5L[ P 6[OLY UVU J\YYLU[ HZZL[Z Total Non-current assets Current assets H 0U]LU[VYPLZ I -PUHUJPHS HZZL[Z P 0U]LZ[TLU[Z PP ;YHKL YLJLP]HISLZ PPP *HZO HUK JHZO LX\P]HSLU[Z P] 6[OLY IHUR IHSHUJLZ ] 3VHUZ ]P 6[OLY ÄUHUJPHS HZZL[Z J 6[OLY J\YYLU[ HZZL[Z Total current assets Total Assets EQUITY AND LIABILITIES Equity H ,X\P[` ZOHYL JHWP[HS I 6[OLY LX\P[` Total equity Liabilities Non-current liabilities H -PUHUJPHS SPHIPSP[PLZ P )VYYV^PUNZ I 7YV]PZPVUZ J +LMLYYLK [H_ SPHIPSP[PLZ 5L[ K 6[OLY UVU J\YYLU[ SPHIPSP[PLZ Total non- current liabilties Current liabilities H -PUHUJPHS SPHIPSP[PLZ P )VYYV^PUNZ PP ;YHKL 7H`HISLZ PPP 6[OLY ÄUHUJPHS SPHIPSP[PLZ I 7YV]PZPVUZ J *\YYLU[ [H_ SPHIPSP[` UL[ K 6[OLY J\YYLU[ SPHIPSP[PLZ Total current liabilties Total liabilities Total Equity and Liabilities :\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ

As at March 31, 2017

As at March 31, 2016

` PU 3HJZ As at April 1, 2015

3 3 4 (

) * + 8

2,85,845.04

2,22,921.95

1,93,988.76

) ( ) * * + 11

59,671.31 3,45,516.35

1,00,312.42 3,23,234.37

59,483.41 2,53,472.17

13

1,69,836.89

1,60,367.36

1,52,883.69

14A

7,370.08

8,535.56

10,712.68

14A 14B * 18

1,68,309.38 1,75,679.46 3,45,516.35

1,54,331.45 1,62,867.01 3,23,234.37

89,875.80 1,00,588.48 2,53,472.17

Notes

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , ,

-VY HUK VU ILOHSM VM [OL )VHYK VM +PYLJ[VYZ VM /; 4LKPH 3PTP[LK

per Vishal Sharma Partner 4LTILYZOPW 5\TILY!

7P`\ZO .\W[H .YV\W *OPLM -PUHUJPHS 6MÄJLY

+PULZO 4P[[HS >OVSL [PTL +PYLJ[VY .YV\W .LULYHS *V\UZLS *VTWHU` :LJYL[HY` +05!

Place : +H[L :

9HQP] =LYTH *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia *OHPYWLYZVU ,KP[VYPHS +PYLJ[VY +05!

64

5L^ +LSOP 4H`

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2017 Particulars

Year ended March 31, 2017

` PU 3HJZ Year ended March 31, 2016

1,58,893.20

1,60,462.30

1,52,473.67

1,41,410.86

6,419.53

21,155.44

24,034.72

22,857.35

268.90 6,150.63 6,150.63

6,286.85 14,868.59 (5,523.66) 9,344.93

(60.63) (5,441.00) (5,501.63) 649.00

(115.36) (115.36) 9,229.57

31 31

31 31

31 31

-

Notes

I

INCOME H 9L]LU\L MYVT VWLYH[PVUZ I Other Income Total Income II EXPENSES H *VZ[ VM TH[LYPHSZ JVUZ\TLK I 0UJYLHZL KLJYLHZL PU PU]LU[VYPLZ J ,TWSV`LL ILULÄ[Z L_WLUZL K -PUHUJL JVZ[Z L +LWYLJPH[PVU HUK HTVY[PaH[PVU L_WLUZL M Other expenses Total expenses PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX FROM CONTINUING III OPERATIONS(I-II) IV EXCEPTIONAL ITEMS GAIN/(LOSS) V PROFIT BEFORE TAX FROM CONTINUING OPERATIONS(III+IV) EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION VI (EBITDA) BEFORE EXCEPTIONAL ITEMS *VU[PU\PUN VWLYH[PVUZ B000 00 K 00 L D +PZJVU[PU\LK VWLYH[PVUZ Total earnings before interest, tax, depreciation and amortization (EBITDA) before exceptional items VII TAX EXPENSE *\YYLU[ [H_ Adjustment of current tax related to earlier periods +LMLYYLK [H_ JOHYNL JYLKP[ Total tax expense VIII PROFIT FROM CONTINUING OPERATIONS AFTER TAX(V-VII) 7YVÄ[ SVZZ MYVT KPZJVU[PU\LK VWLYH[PVUZ ;H_ JOHYNL JYLKP[ PUJS\KPUN KLMMLYLK [H_ VM KPZJVU[PU\LK VWLYH[PVUZ IX PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS (AFTER TAX) X PROFIT FOR THE YEAR (VIII+IX) XI OTHER COMPREHENSIVE INCOME 0[LTZ [OH[ ^PSS UV[ [V IL YLJSHZZPÄLK [V WYVÄ[ VY SVZZ 9LTLHZ\YLTLU[ NHPU SVZZ VU KLÄULK ILULÄ[ WSHUZ -Income tax effect

5L[ SVZZ NHPU VU -=;6*0 MVY PU]LZ[TLU[ PU 1VPU[ =LU[\YL *VTWHU` -Income tax effect XII XIII

6[OLY JVTWYLOLUZP]L PUJVTL MVY [OL `LHY UL[ VM [H_ TOTAL COMPREHENSIVE INCOME FOR THE YEAR, NET OF TAX(X+XI) EARNINGS/(LOSS) PER SHARE FOR CONTINUING AND DISCONTINUED OPERATIONS )HZPJ 5VTPUHS ]HS\L VM ZOHYL ` +PS\[LK 5VTPUHS ]HS\L VM ZOHYL ` Earnings/(loss) per share for continuing operations )HZPJ 5VTPUHS ]HS\L VM ZOHYL ` +PS\[LK 5VTPUHS ]HS\L VM ZOHYL ` Earnings/(loss) per share for discontinued operations )HZPJ 5VTPUHS ]HS\L VM ZOHYL ` +PS\[LK 5VTPUHS ]HS\L VM ZOHYL ` :\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , ,

-VY HUK VU ILOHSM VM [OL )VHYK VM +PYLJ[VYZ VM /; 4LKPH 3PTP[LK

per Vishal Sharma Partner 4LTILYZOPW 5\TILY!

7P`\ZO .\W[H .YV\W *OPLM -PUHUJPHS 6MÄJLY

+PULZO 4P[[HS >OVSL [PTL +PYLJ[VY .YV\W .LULYHS *V\UZLS *VTWHU` :LJYL[HY` +05!

Place : +H[L :

9HQP] =LYTH *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia *OHPYWLYZVU ,KP[VYPHS +PYLJ[VY +05!

5L^ +LSOP 4H`

ANNUAL REPORT 2016-17

65

CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

-

6,419.53

12,708.44

Interest income from deposits and others 7YVÄ[ VU :HSL VM 0U]LZ[TLU[ 7YVWLY[PLZ <UJSHPTLK IHSHUJLZ \UZWLU[ SPHIPSP[PLZ ^YP[[LU IHJR UL[ 0U[LYLZ[ ,_WLUZL <UYLHSPaLK MVYLPNU L_JOHUNL SVZZ NHPU Impairment towards value of investment properties 0TWHPYTLU[ MVY KV\I[M\S KLI[Z HUK HK]HUJLZ PUJS\KLZ IHK KLI[Z ^YP[[LU VMM

Working capital adjustments: +LJYLHZL 0UJYLHZL PU [YHKL YLJLP]HISLZ +LJYLHZL 0UJYLHZL PU PU]LU[VYPLZ +LJYLHZL 0UJYLHZL PU J\YYLU[ HUK UVU J\YYLU[ ÄUHUJPHS HZZL[Z HUK V[OLY J\YYLU[ HUK non-current assets

+LJYLHZL 0UJYLHZL PU J\YYLU[ HUK UVU J\YYLU[ ÄUHUJPHS 3PHIPSP[PLZ HUK 6[OLY *\YYLU[ HUK non-current liabilities & Provision

Total Cash from Operations Income tax paid

20,086.24

16,319.91

5L[ JHZO Ã…V^Z MYVT VWLYH[PUN HJ[P]P[PLZ ( Investing activities 7\YJOHZL VM WYVWLY[` WSHU[ HUK LX\PWTLU[ 0U[HUNPISL (ZZL[Z 7YVJLLKZ MYVT ZHSL VM WYVWLY[` WSHU[ HUK LX\PWTLU[ 0U[HUNPISL (ZZL[Z Purchase of Investment properties Proceeds from sale of Investment Properties Purchase of investments in mutual funds and others Proceeds from sale of investments in mutual funds and others Purchase of investments in subsidiaries/fellow subsidiary 7\YJOHZL VM PU]LZ[TLU[Z PU 1VPU[ ]LU[\YL Proceeds from Sale of Investment in Subsidiary Inter corporate deposits given

19,120.95

13,772.37

-

Operating activities 7YVÄ[ ILMVYL [H_ MYVT JVU[PU\PUN VWLYH[PVUZ 7YVÄ[ SVZZ ILMVYL [H_ MYVT KPZJVU[PU\LK VWLYH[PVUZ 7YVÄ[ ILMVYL [H_ (KQ\Z[TLU[Z [V YLJVUJPSL WYVÄ[ ILMVYL [H_ [V UL[ JHZO ÅV^Z! +LWYLJPH[PVU HUK HTVY[PaH[PVU L_WLUZL 0TWHPYTLU[ 3VZZ VU KPZWVZHS VM WYVWLY[` WSHU[ HUK LX\PWTLU[ 0U[HUNPISLZ 0TWHPYTLU[ VM 0U]LZ[TLU[ PU :\IZPKPHYPLZ ,_JLW[PVUHS P[LT Provision for contingencies -HPY ]HS\L VM 0U]LZ[TLU[ [OYV\NO WYVÄ[ HUK SVZZ PUJS\KPUN 3VZZ VU ZHSL VM PU]LZ[TLU[Z +P]PKLUK PUJVTL Interest Income from mutual funds and others

Inter corporate deposits received back

66

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

(21,497.63)

(75,041.30)

1,078.73 (1,297.95) 6,856.24 5,558.28

56,534.94 (4,733.99) 11,590.23 6,856.24

Total cash and cash equivalents Less: Bank Overdraft

6,588.54

8,380.24

Cash and cash equivalents as per Cash Flow Statement

5,558.28

6,856.24

+P]PKLUKZ YLJLP]LK Interest received 7YVJLLKZ VM KLWVZP[Z TH[\YLK UL[ 5L[ JHZO ÅV^Z \ZLK PU PU]LZ[PUN HJ[P]P[PLZ ) Financing activities 7YVJLLKZ MYVT :OVY[ [LYT IVYYV^PUNZ 5L[ 9LWH`TLU[ VM 3VUN [LYT IVYYV^PUNZ Interest Paid +P]PKLUK 7HPK +P]PKLUK KPZ[YPI\[PVU [H_ WHPK 5L[ JHZO ÅV^Z MYVT \ZLK PU ÄUHUJPUN HJ[P]P[PLZ * Net increase/ (decrease) in cash and cash equivalents (D= A+B+C) Cash and cash equivalents at the beginning of the year (E ) Cash and cash equivalents at year end (D+E) Components of Cash & Cash Equivalents as at end of the year *HZO HUK JOLX\LZ VU OHUK With banks - on deposit accounts - on current accounts

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , ,

-VY HUK VU ILOHSM VM [OL )VHYK VM +PYLJ[VYZ VM /; 4LKPH 3PTP[LK

per Vishal Sharma Partner 4LTILYZOPW 5\TILY!

7P`\ZO .\W[H .YV\W *OPLM -PUHUJPHS 6MÄJLY

+PULZO 4P[[HS >OVSL [PTL +PYLJ[VY .YV\W .LULYHS *V\UZLS *VTWHU` :LJYL[HY` +05!

Place : +H[L :

9HQP] =LYTH *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia *OHPYWLYZVU ,KP[VYPHS +PYLJ[VY +05!

5L^ +LSOP 4H`

ANNUAL REPORT 2016-17

67

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED MARCH 31, 2017 A.

EQUITY SHARE CAPITAL (REFER NOTE 12)

,X\P[` :OHYLZ VM ` LHJO PZZ\LK Z\IZJYPILK HUK M\SS` WHPK \W

Particulars

Number of shares

Amount (` in Lacs)

Balance as at April 1, 2015 *OHUNLZ PU ZOHYL JHWP[HS K\YPUN [OL `LHY

23,05,20,024 -

4,610.40 -

Balance as at March 31, 2016 *OHUNLZ PU ZOHYL JHWP[HS K\YPUN [OL `LHY

23,05,20,024 -

4,610.40 -

Balance as at March 31, 2017

23,05,20,024

4,610.40

B.

OTHER EQUITY ATTRIBUTABLE TO EQUITY HOLDERS (REFER NOTE 13) Reserves & Surplus

Particulars

Balance as at April 1, 2015 3PJLUZL MLLZ HTVY[PaLK 9LMLY UV[L *OHUNL K\YPUN [OL `LHY Other comprehensive income +P]PKLUK +P]PKLUK KPZ[YPI\[PVU [H_ Adjustment of accumulated Z\YWS\Z VM /; 4LKPH ,TWSV`LL Welfare Trust Balance as at March 31, 2016 3PJLUZL MLLZ HTVY[PaLK 9LMLY UV[L *OHUNL K\YPUN [OL `LHY Other comprehensive income +P]PKLUK +P]PKLUK KPZ[YPI\[PVU [H_ Adjustment of accumulated Z\YWS\Z VM /; 4LKPH ,TWSV`LL Welfare Trust Balance as at March 31, 2017

Capital Securities Capital reserve (Refer redemption premium reserve Note 29)

OCI General Reserve

Retained earnings

FVTOCI for Investment in Joint Venture Company (Refer Note 30)

(` in Lacs) Total

7,234.45 -

2,045.45 -

32,430.66

7,144.55 -

99,418.18 -

-

148,273.29 (767.52)

-

-

-

-

-

9,344.93 (115.36) (930.99) (56.30) 8.91

7,234.45 -

2,045.45 -

31,663.14

-

-

-

-

17,601.65

2,045.45

31,095.39

7,144.55 1,07,669.37 -

7,144.55 1,12,780.45

- 1,55,756.96 (567.75) -

16,517.83 (5,501.63) (930.99) (56.30) 8.37

(5,441.00) 1,65,226.49

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , ,

-VY HUK VU ILOHSM VM [OL )VHYK VM +PYLJ[VYZ VM /; 4LKPH 3PTP[LK

per Vishal Sharma Partner 4LTILYZOPW 5\TILY!

7P`\ZO .\W[H .YV\W *OPLM -PUHUJPHS 6MÄJLY

+PULZO 4P[[HS >OVSL [PTL +PYLJ[VY .YV\W .LULYHS *V\UZLS *VTWHU` :LJYL[HY` +05!

Place : +H[L :

9HQP] =LYTH *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia *OHPYWLYZVU ,KP[VYPHS +PYLJ[VY +05!

68

5L^ +LSOP 4H`

HT MEDIA LIMITED

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 1.

CORPORATE INFORMATION

/; 4LKPH 3PTP[LK ¸/;43¹ VY ¸[OL *VTWHU`¹ PZ H public company domiciled in India and incorporated \UKLY [OL WYV]PZPVUZ VM [OL *VTWHUPLZ (J[ 0[Z ZOHYLZ HYL SPZ[LK VU [OL 5H[PVUHS Z[VJR L_JOHUNL 5:, HUK )VTIH` Z[VJR L_JOHUNL ):, ;OL *VTWHU` W\ISPZOLZ º/PUK\Z[HU ;PTLZ» HU ,UNSPZO KHPS` HUK º4PU[» H )\ZPULZZ WHWLY KHPS` L_JLW[ VU :\UKH` HUK \UKLY[HRLZ JVTTLYJPHS WYPU[PUN QVIZ ;OL *VTWHU` is also engaged into the business of providing LU[LY[HPUTLU[ YHKPV IYVHKJHZ[ HUK HSS V[OLY YLSH[LK HJ[P]P[PLZ [OYV\NO P[Z 9HKPV :[H[PVUZ VWLYH[PUN \UKLY IYHUK UHTL º-L]LY » º-L]LY» HUK º9HKPV 5HZOH» ;OL KPNP[HS I\ZPULZZ VM [OL *VTWHU` JVTWYPZLZ VM ]HYPV\Z VUSPUL WSH[MVYTZ Z\JO HZ ºZOPUL JVT» L[J ;OL YLNPZ[LYLK VMÄJL VM [OL *VTWHU` PZ SVJH[LK H[ 2 . 4HYN 5L^ +LSOP

;OL *VTWHU` KLYP]LZ YL]LU\L WYPTHYPS` MYVT [OL ZHSL VM [OL HIV]L TLU[PVULK W\ISPJH[PVUZ HK]LY[PZLTLU[Z W\ISPZOLK [OLYLPU I` \UKLY[HRPUN WYPU[PUN QVIZ and airtime advertisements aired at the aforesaid radio stations. Internet business also contributes [V [OL *VTWHU`»Z YL]LU\L I` ^H` VM KPZWSH` VM advertisements on these websites.

PU HJJVYKHUJL ^P[O 0UK (: 9LMLY 5V[L VU ÄYZ[ [PTL HKVW[PVU MVY PUMVYTH[PVU VU OV^ [OL *VTWHU` OHZ HKVW[LK 0UK (: The accounting policies are applied consistently [V HSS [OL WLYPVKZ WYLZLU[LK PU [OL ÄUHUJPHS Z[H[LTLU[Z PUJS\KPUN [OL WYLWHYH[PVU VM [OL VWLUPUN 0UK (: )HSHUJL :OLL[ HZ H[ (WYPS being the date of transition to Ind-AS.

; OL Z[HUKHSVUL ÄUHUJPHS Z[H[LTLU[Z OH]L ILLU WYLWHYLK VU H OPZ[VYPJHS JVZ[ IHZPZ L_JLW[ MVY [OL following assets and liabilities which have been measured at fair value:

+LYP]H[P]L ÄUHUJPHS PUZ[Y\TLU[Z

*LY[HPU ÄUHUJPHS HZZL[Z HUK SPHIPSP[PLZ TLHZ\YLK H[ MHPY ]HS\L YLMLY HJJV\U[PUN WVSPJ` YLNHYKPUN ÄUHUJPHS PUZ[Y\TLU[Z

+LÄULK ILULÄ[ WSHUZ WSHU HZZL[Z TLHZ\YLK H[ fair value.

( SS HTV\U[Z KPZJSVZLK PU [OL ÄUHUJPHS Z[H[LTLU[Z and notes have been rounded off to the nearest SHJZ HZ WLY [OL YLX\PYLTLU[ VM :JOLK\SL 000 \USLZZ otherwise stated.

; OL Z[HUKHSVUL ÄUHUJPHS Z[H[LTLU[Z HYL WYLZLU[LK PU 0UKPHU 9\WLLZ `) which is also the *VTWHU`»Z M\UJ[PVUHS J\YYLUJ`

Information on related party relationship of the *VTWHU` PZ WYV]PKLK PU 5V[L

;OL ÄUHUJPHS Z[H[LTLU[Z VM [OL *VTWHU` MVY [OL `LHY LUKLK 4HYJO HYL H\[OVYPZLK MVY PZZ\L PU HJJVYKHUJL ^P[O H YLZVS\[PVU VM [OL )VHYK VM +PYLJ[VYZ VU 4H`

2.

SIGNIFICANT ACCOUNTING POLICIES FOLLOWED BY COMPANY 2.1 Basis of preparation

2.2 Summary of significant accounting policies

; OL Z[HUKHSVUL ÄUHUJPHS Z[H[LTLU[Z VM [OL *VTWHU` OH]L ILLU WYLWHYLK PU HJJVYKHUJL ^P[O 0UKPHU (JJV\U[PUN :[HUKHYKZ º0UK (:» UV[PÄLK \UKLY [OL *VTWHUPLZ 0UKPHU (JJV\U[PUN :[HUKHYK 9\SLZ HUK *VTWHUPLZ 0UKPHU (JJV\U[PUN :[HUKHYK (TLUKTLU[ 9\SLZ

VY HSS WLYPVKZ \W [V HUK PUJS\KPUN [OL `LHY LUKLK 4HYJO [OL *VTWHU` WYLWHYLK P[Z ÄUHUJPHS Z[H[LTLU[Z PU HJJVYKHUJL ^P[O [OL (JJV\U[PUN :[HUKHYKZ UV[PÄLK \UKLY [OL :LJ[PVU VM [OL *VTWHUPLZ (J[ YLHK [VNL[OLY ^P[O WHYHNYHWO VM [OL *VTWHUPLZ (JJV\U[Z 9\SLZ º0UKPHU .((7» ;OL ÄUHUJPHS Z[H[LTLU[Z MVY [OL `LHY LUKLK 4HYJO HYL [OL ÄYZ[ [OL *VTWHU` OHZ WYLWHYLK

a)

Foreign currencies Transactions in foreign currencies are initially YLJVYKLK I` [OL *VTWHU` H[ [OLPY YLZWLJ[P]L functional currency spot rates at the date [OL [YHUZHJ[PVU ÄYZ[ X\HSPÄLZ MVY YLJVNUP[PVU /V^L]LY MVY WYHJ[PJHS YLHZVUZ [OL *VTWHU` uses an average rate if the average approximates the actual rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date.

, _JOHUNL KPMMLYLUJLZ HYPZPUN VU [OL ZL[[SLTLU[ of monetary items or on restatement of the *VTWHU`»Z TVUL[HY` P[LTZ H[ YH[LZ KPMMLYLU[ from those at which they were initially recorded K\YPUN [OL `LHY VY YLWVY[LK PU WYL]PV\Z ÄUHUJPHS ANNUAL REPORT 2016-17

69

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 The fair value of an asset or a liability is measured using the assumptions that market participants ^V\SK \ZL ^OLU WYPJPUN [OL HZZL[ VY SPHIPSP[` assuming that market participants act in their economic best interest.

Z[H[LTLU[Z HYL YLJVNUPaLK HZ PUJVTL VY HZ expenses in the year in which they arise.

, _JOHUNL KPMMLYLUJLZ WLY[HPUPUN [V SVUN [LYT MVYLPNU J\YYLUJ` SVHUZ VI[HPULK VY YL ÄUHUJLK VU VY ILMVYL 4HYJO !

,_JOHUNL KPMMLYLUJLZ VU SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ YLSH[PUN [V HJX\PZP[PVU of depreciable assets are adjusted to the carrying cost of the assets and depreciated over the balance life of the assets in accordance ^P[O VW[PVU H]HPSHISL \UKLY 0UK (: -PYZ[ [PTL HKVW[PVU

( MHPY ]HS\L TLHZ\YLTLU[ VM H UVU ÄUHUJPHS HZZL[ [HRLZ PU[V HJJV\U[ H THYRL[ WHY[PJPWHU[»Z HIPSP[` [V NLULYH[L LJVUVTPJ ILULÄ[Z I` \ZPUN [OL asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

, _JOHUNL KPMMLYLUJLZ WLY[HPUPUN [V SVUN [LYT MVYLPNU J\YYLUJ` SVHUZ VI[HPULK VY YL ÄUHUJLK VU VY HM[LY (WYPS !

; OL *VTWHU` \ZLZ ]HS\H[PVU [LJOUPX\LZ [OH[ HYL appropriate in the circumstances and for which Z\MÄJPLU[ KH[H HYL H]HPSHISL [V TLHZ\YL MHPY ]HS\L maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

- The exchange differences pertaining to long term foreign currency working capital SVHUZ VI[HPULK VY YL ÄUHUJLK VU VY HM[LY (WYPS PZ JOHYNLK VMM VY JYLKP[LK [V :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ HJJV\U[ \UKLY Ind-AS.

All assets and liabilities for which fair value is TLHZ\YLK VY KPZJSVZLK PU [OL ÄUHUJPHS Z[H[LTLU[Z HYL JH[LNVYPZLK ^P[OPU [OL MHPY ]HS\L OPLYHYJO` KLZJYPILK HZ MVSSV^Z IHZLK VU [OL SV^LZ[ SL]LS PUW\[ [OH[ PZ ZPNUPÄJHU[ [V [OL MHPY ]HS\L measurement as a whole:

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.

•

Level 1 · 8\V[LK \UHKQ\Z[LK THYRL[ prices in active markets for identical assets or liabilities

•

Level 2 · =HS\H[PVU [LJOUPX\LZ MVY ^OPJO [OL SV^LZ[ SL]LS PUW\[ [OH[ PZ ZPNUPÄJHU[ [V the fair value measurement is directly or indirectly observable

•

Level 3 · =HS\H[PVU [LJOUPX\LZ MVY ^OPJO [OL SV^LZ[ SL]LS PUW\[ [OH[ PZ ZPNUPÄJHU[ [V the fair value measurement is unobservable

b)

Fair value measurement ; OL *VTWHU` TLHZ\YLZ ÄUHUJPHS PUZ[Y\TLU[Z Z\JO HZ KLYP]H[P]LZ HUK JLY[HPU PU]LZ[TLU[Z H[ fair value at each reporting/ balance sheet date.

HPY ]HS\L PZ [OL WYPJL [OH[ ^V\SK IL YLJLP]LK [V sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: •

In the principal market for the asset or SPHIPSP[` VY

•

0 U [OL HIZLUJL VM H WYPUJPWHS THYRL[ PU [OL TVZ[ advantageous market for the asset or liability

The principal or the most advantageous market T\Z[ IL HJJLZZPISL I` [OL *VTWHU`

70

HT MEDIA LIMITED

VY HZZL[Z HUK SPHIPSP[PLZ [OH[ HYL YLJVNUPZLK PU [OL ÄUHUJPHS Z[H[LTLU[Z VU H YLJ\YYPUN IHZPZ [OL *VTWHU` KL[LYTPULZ ^OL[OLY [YHUZMLYZ OH]L occurred between levels in the hierarchy by reHZZLZZPUN JH[LNVYPZH[PVU IHZLK VU [OL SV^LZ[ SL]LS PUW\[ [OH[ PZ ZPNUPÄJHU[ [V [OL MHPY ]HS\L TLHZ\YLTLU[ HZ H ^OVSL H[ [OL LUK VM LHJO reporting period.

VY [OL W\YWVZL VM MHPY ]HS\L KPZJSVZ\YLZ [OL *VTWHU` OHZ KL[LYTPULK JSHZZLZ VM HZZL[Z HUK SPHIPSP[PLZ VU [OL IHZPZ VM [OL UH[\YL JOHYHJ[LYPZ[PJZ and risks of the asset or liability and the level of the fair value hierarchy as explained above.

A

01-15

16-58

B

About HT Media

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 This note summarises accounting policy for fair value. Other fair value related disclosures are given in the relevant notes : •

+PZJSVZ\YLZ MVY ]HS\H[PVU TL[OVKZ ZPNUPÄJHU[ LZ[PTH[LZ HUK HZZ\TW[PVUZ 5V[L

•

Quantitative disclosures of fair TLHZ\YLTLU[ OPLYHYJO` 5V[L

•

0U]LZ[TLU[ PU \UX\V[LK LX\P[` ZOHYLZ 5V[L ( )

‹

0U]LZ[TLU[ WYVWLY[PLZ 5V[L

‹

-PUHUJPHS PUZ[Y\TLU[Z PUJS\KPUN [OVZL JHYYPLK H[ HTVY[PaLK JVZ[ 5V[L

c)

Revenue recognition 9 L]LU\L PZ YLJVNUPZLK [V [OL L_[LU[ [OH[ P[ PZ WYVIHISL [OH[ [OL LJVUVTPJ ILULÄ[Z ^PSS ÅV^ [V [OL *VTWHU` HUK [OL YL]LU\L JHU IL YLSPHIS` TLHZ\YLK YLNHYKSLZZ VM ^OLU [OL WH`TLU[ PZ ILPUN THKL 9L]LU\L PZ TLHZ\YLK H[ [OL MHPY ]HS\L VM [OL JVUZPKLYH[PVU YLJLP]LK VY YLJLP]HISL [HRPUN PU[V HJJV\U[ JVU[YHJ[\HSS` KLÄULK [LYTZ VM payment and excluding taxes or duties collected VU ILOHSM VM [OL NV]LYUTLU[ ;OL *VTWHU` has concluded that it is the principal in all of its revenue arrangements since it is the primary obligor in all the revenue arrangements as it has pricing latitude and is also exposed to inventory and credit risks.

: LY]PJL [H_ :HSLZ [H_ HUK ]HS\L HKKLK [H_ =(; PZ UV[ YLJLP]LK I` [OL *VTWHU` VU P[Z V^U HJJV\U[ 9H[OLY P[ PZ [H_ JVSSLJ[LK VU ]HS\L added to the commodity by the seller on behalf VM [OL NV]LYUTLU[ (JJVYKPUNS` P[ PZ L_JS\KLK from revenue.

; OL ZWLJPÄJ YLJVNUP[PVU JYP[LYPH KLZJYPILK ILSV^ must also be met before revenue is recognised :

value

Advertisements 9 L]LU\L PZ YLJVNUPaLK HZ HUK ^OLU HK]LY[PZLTLU[ PZ W\ISPZOLK KPZWSH`LK 9L]LU\L from advertisement is measured at the fair value VM [OL JVUZPKLYH[PVU YLJLP]LK VY YLJLP]HISL UL[ VM HSSV^HUJLZ [YHKL KPZJV\U[Z HUK ]VS\TL YLIH[LZ

Sale of Newspaper & Publications, Waste Paper and Scrap 9 L]LU\L MYVT [OL ZHSL VM NVVKZ PZ YLJVNUPZLK ^OLU [OL ZPNUPÄJHU[ YPZRZ HUK YL^HYKZ VM ownership of the goods have passed to the I\`LY \Z\HSS` VU KLSP]LY` VM [OL NVVKZ 9L]LU\L from the sale of goods is measured at the fair ]HS\L VM [OL JVUZPKLYH[PVU YLJLP]LK VY YLJLP]HISL UL[ VM YL[\YUZ HUK HSSV^HUJLZ [YHKL KPZJV\U[Z and volume rebates. Management also extends a right to return to its customers which it believes is a form of variable consideration.

Printing Job Work 9 L]LU\L MYVT WYPU[PUN QVI ^VYR PZ YLJVNUPZLK I` reference to stage of completion of job work as WLY [LYTZ VM HNYLLTLU[ 9L]LU\L MYVT QVI ^VYR is measured at the fair value of the consideration YLJLP]LK VY YLJLP]HISL UL[ VM HSSV^HUJLZ [YHKL KPZJV\U[Z HUK ]VS\TL YLIH[LZ PM HU` Airtime Revenue 9 L]LU\L MYVT YHKPV IYVHKJHZ[PUN PZ YLJVNUPaLK VU HU HJJY\HS IHZPZ VU [OL HPYPUN VM JSPLU[»Z JVTTLYJPHSZ 9L]LU\L MYVT YHKPV IYVHKJHZ[PUN is measured at the fair value of the consideration YLJLP]LK VY YLJLP]HISL UL[ VM HSSV^HUJLZ [YHKL KPZJV\U[Z HUK ]VS\TL YLIH[LZ PM HU` Revenue from online advertising 9 L]LU\L MYVT KPNP[HS WSH[MVYTZ I` KPZWSH` VM internet advertisements are typically contracted for a period ranging between zero to twelve TVU[OZ 9L]LU\L PU [OPZ YLZWLJ[ PZ YLJVNUPaLK V]LY [OL WLYPVK VM [OL JVU[YHJ[ PU HJJVYKHUJL with the established principles of accrual accounting and is measured at the fair value of [OL JVUZPKLYH[PVU YLJLP]LK VY YLJLP]HISL UL[ VM HSSV^HUJLZ [YHKL KPZJV\U[Z HUK ]VS\TL YLIH[LZ PM HU` <ULHYULK YL]LU\LZ HYL YLWVY[LK VU [OL balance sheet as deferred revenue. 9 L]LU\L MYVT Z\IZJYPW[PVU VM WHJRHNLZ VM WSHJLTLU[ VM QVI WVZ[PUNZ VU ºZOPUL JVT» PZ recognized at the time the job postings are KPZWSH`LK IHZLK \WVU J\Z[VTLY \ZHNL WH[[LYUZ or upon expiry of the subscription package whichever is earlier and is measured at the fair ]HS\L VM [OL JVUZPKLYH[PVU YLJLP]LK VY YLJLP]HISL UL[ VM HSSV^HUJLZ [YHKL KPZJV\U[Z HUK ]VS\TL YLIH[LZ PM HU` ANNUAL REPORT 2016-17

71

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

Revenue from Job Fair and Resume Services 9 L]LU\L MYVT 1VI -HPY HUK 9LZ\TL ZLY]PJLZ is recognised upon completion terms of the contract with customers and is measured at the fair value of the consideration received or YLJLP]HISL UL[ VM HSSV^HUJLZ [YHKL KPZJV\U[Z HUK ]VS\TL YLIH[LZ PM HU` Interest income VY HSS KLI[ PUZ[Y\TLU[Z TLHZ\YLK LP[OLY H[ HTVY[PaLK JVZ[ PU[LYLZ[ PUJVTL PZ YLJVYKLK \ZPUN [OL LMMLJ[P]L PU[LYLZ[ YH[L ,09 ,09 PZ [OL rate that exactly discounts the estimated future cash payments or receipts over the expected SPML VM [OL ÄUHUJPHS PUZ[Y\TLU[ VY H ZOVY[LY WLYPVK ^OLYL HWWYVWYPH[L [V [OL NYVZZ JHYY`PUN HTV\U[ VM [OL ÄUHUJPHS HZZL[ VY [V [OL HTVY[PaLK JVZ[ VM H ÄUHUJPHS SPHIPSP[` >OLU JHSJ\SH[PUN [OL LMMLJ[P]L PU[LYLZ[ YH[L [OL *VTWHU` LZ[PTH[LZ [OL L_WLJ[LK JHZO ÅV^Z I` JVUZPKLYPUN HSS [OL JVU[YHJ[\HS [LYTZ VM [OL ÄUHUJPHS PUZ[Y\TLU[ MVY L_HTWSL WYLWH`TLU[ L_[LUZPVU JHSS HUK ZPTPSHY VW[PVUZ I\[ KVLZ UV[ JVUZPKLY [OL L_WLJ[LK credit losses. Interest income is included in other PUJVTL PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ

d)

Government grants . V]LYUTLU[ NYHU[Z HYL YLJVNUPZLK ^OLYL [OLYL is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an L_WLUZL P[LT P[ PZ YLJVNUPZLK HZ PUJVTL VU H systematic basis over the periods that the related JVZ[Z MVY ^OPJO P[ PZ PU[LUKLK [V JVTWLUZH[L HYL L_WLUZLK >OLU [OL NYHU[ YLSH[LZ [V HU HZZL[ P[ PZ YLJVNUPZLK HZ PUJVTL PU LX\HS HTV\U[Z V]LY the expected useful life of the related asset.

> OLU [OL *VTWHU` YLJLP]LZ NYHU[Z MVY W\YJOHZL VM WYVWLY[` WSHU[ HUK LX\PWTLU[ [OL HZZL[ HUK the grant are recorded at fair value amounts and YLSLHZLK [V Z[H[LTLU[ VM WYVÄ[ HUK SVZZ V]LY [OL expected useful life of the asset.

e)

Taxes Current income tax Tax expense is the aggregate amount included in [OL KL[LYTPUH[PVU VM WYVÄ[ VY SVZZ MVY [OL WLYPVK in respect of current tax and deferred tax.

* \YYLU[ PUJVTL [H_ PZ TLHZ\YLK H[ [OL HTV\U[ expected to be paid to the tax authorities in HJJVYKHUJL ^P[O [OL 0UJVTL ;H_ (J[

Dividends 9 L]LU\L PZ YLJVNUPZLK ^OLU [OL *VTWHU`»Z YPNO[ [V YLJLP]L [OL WH`TLU[ PZ LZ[HISPZOLK which is generally when shareholders approve the dividend. Rental Income 9 LU[HS 0UJVTL HYPZPUN MYVT VWLYH[PUN SLHZLZ on investment properties is accounted for on a straight-line basis over the lease terms and is PUJS\KLK PU YL]LU\L PU [OL :[H[LTLU[ VM 7YVÄ[ HUK Loss due to its operating nature unless either:

*\YYLU[ PUJVTL [H_ HZZL[Z HUK SPHIPSP[PLZ HYL measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively LUHJ[LK H[ [OL YLWVY[PUN KH[L

- Another systematic basis is more representative VM [OL [PTL WH[[LYU PU ^OPJO \ZL ILULÄ[ KLYP]LK MYVT [OL SLHZLK HZZL[ PZ KPTPUPZOLK L]LU PM [OL WH`TLU[Z [V [OL SLZZVYZ HYL UV[ VU [OH[ IHZPZ or - The rentals are structured to increase in line ^P[O L_WLJ[LK NLULYHS PUÃ…H[PVU [V JVTWLUZH[L MVY [OL SLZZVY»Z L_WLJ[LK PUÃ…H[PVUHY` JVZ[ increases. If rentals vary according to factors V[OLY [OHU PUÃ…H[PVU [OLU [OPZ JVUKP[PVU PZ UV[ met.

72

HT MEDIA LIMITED

* \YYLU[ PUJVTL [H_ YLSH[PUN [V P[LTZ YLJVNUPZLK V\[ZPKL WYVÄ[ VY SVZZ PZ YLJVNUPZLK V\[ZPKL WYVÄ[ VY SVZZ LP[OLY PU V[OLY JVTWYLOLUZP]L PUJVTL VY PU LX\P[` *\YYLU[ [H_ P[LTZ HYL YLJVNUPZLK PZ correlation to the underlying transaction either in 6*0 VY KPYLJ[S` PU LX\P[` 4HUHNLTLU[ WLYPVKPJHSS` evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred tax + LMLYYLK [H_ PZ WYV]PKLK \ZPUN [OL SPHIPSP[` TL[OVK on temporary differences between the tax bases of assets and liabilities and their carrying HTV\U[Z MVY ÄUHUJPHS YLWVY[PUN W\YWVZLZ H[ [OL reporting date.

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

+ LMLYYLK [H_ SPHIPSP[PLZ HYL YLJVNUPZLK MVY HSS taxable temporary differences.

+ LMLYYLK [H_ HZZL[Z HYL YLJVNUPZLK MVY HSS KLK\J[PISL [LTWVYHY` KPMMLYLUJLZ [OL JHYY` forward of unused tax credits and any unused tax SVZZLZ +LMLYYLK [H_ HZZL[Z HYL YLJVNUPZLK [V [OL L_[LU[ [OH[ P[ PZ WYVIHISL [OH[ [H_HISL WYVÄ[ ^PSS IL available against which the deductible temporary KPMMLYLUJLZ HUK [OL JHYY` MVY^HYK VM \U\ZLK [H_ credits and unused tax losses can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that Z\MÄJPLU[ [H_HISL WYVÄ[ ^PSS IL H]HPSHISL [V allow all or part of the deferred tax asset to be \[PSPZLK <UYLJVNUPZLK KLMLYYLK [H_ HZZL[Z HYL re-assessed at each reporting date and are recognised to the extent that it has become WYVIHISL [OH[ M\[\YL [H_HISL WYVÄ[Z ^PSS HSSV^ [OL deferred tax asset to be recovered.

•

When receivables and payables are stated with the amount of sales tax included

; OL UL[ HTV\U[ VM [H_ YLJV]LYHISL MYVT VY WH`HISL [V [OL [H_H[PVU H\[OVYP[` PZ PUJS\KLK HZ part of receivables or payables in the balance sheet.

f)

Discontinued operations ( KPZWVZHS NYV\W X\HSPÄLZ HZ KPZJVU[PU\LK operation if it is a component of an entity that LP[OLY OHZ ILLU KPZWVZLK VM VY PZ JSHZZPÄLK HZ OLSK MVY ZHSL HUK!

‹

9LWYLZLU[Z H ZLWHYH[L THQVY SPUL VM I\ZPULZZ VY NLVNYHWOPJHS HYLH VM VWLYH[PVUZ

•

Is part of a single co-ordinated plan to dispose off a separate major line of business or geographical area of operations

Or

‹

+ LMLYYLK [H_ YLSH[PUN [V P[LTZ YLJVNUPZLK V\[ZPKL WYVÄ[ VY SVZZ PZ YLJVNUPZLK V\[ZPKL WYVÄ[ VY SVZZ +LMLYYLK [H_ P[LTZ HYL YLJVNUPZLK PU JVYYLSH[PVU [V [OL \UKLYS`PUN [YHUZHJ[PVU LP[OLY PU 6*0 VY KPYLJ[S` PU LX\P[`

+ PZJVU[PU\LK VWLYH[PVUZ HYL L_JS\KLK MYVT the results of continuing operations and are WYLZLU[LK HZ H ZPUNSL HTV\U[ HZ WYVÄ[ VY SVZZ after tax from discontinued operations in the :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

( KKP[PVUHS KPZJSVZ\YLZ HYL WYV]PKLK PU 5V[L (SS V[OLY UV[LZ [V [OL ÄUHUJPHS Z[H[LTLU[Z THPUS` PUJS\KL HTV\U[Z MVY JVU[PU\PUN VWLYH[PVUZ unless otherwise mentioned.

+ LMLYYLK [H_ HZZL[Z HUK KLMLYYLK [H_ SPHIPSP[PLZ HYL offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

g)

Property, plant and equipment ; OL *VTWHU` OHZ HWWSPLK MVY VUL [PTL [YHUZP[PVU VW[PVU VM JVUZPKLYPUN [OL JHYY`PUN JVZ[ VM 7YVWLY[` 7SHU[ HUK ,X\PWTLU[ VU [OL [YHUZP[PVU KH[L P L (WYPS HZ [OL KLLTLK JVZ[ \UKLY 0UK (:

7 YVWLY[` WSHU[ HUK LX\PWTLU[ HUK *HWP[HS >VYR PU WYVNYLZZ HYL Z[H[LK H[ JVZ[ UL[ VM accumulated depreciation and accumulated PTWHPYTLU[ SVZZLZ PM HU` :\JO JVZ[ PUJS\KLZ [OL JVZ[ VM YLWSHJPUN WHY[ VM [OL WSHU[ HUK LX\PWTLU[ and borrowing costs for long-term construction projects if the recognition criteria are met.

* VZ[ JVTWYPZLZ [OL W\YJOHZL WYPJL IVYYV^PUN costs if capitalization criteria are met and any

+ LMLYYLK [H_ HZZL[Z HUK SPHIPSP[PLZ HYL TLHZ\YLK at the tax rates that are expected to apply in the year when the asset is realised or the liability is ZL[[SLK IHZLK VU [H_ YH[LZ HUK [H_ SH^Z [OH[ have been enacted or substantively enacted at the reporting date.

Sales/ value added taxes paid on acquisition of assets or on incurring expenses , _WLUZLZ HUK HZZL[Z HYL YLJVNUPZLK UL[ VM [OL HTV\U[ VM ZHSLZ ]HS\L HKKLK [H_LZ WHPK L_JLW[! •

When the tax incurred on a purchase of assets or services is not recoverable from [OL [H_H[PVU H\[OVYP[` PU ^OPJO JHZL [OL tax paid is recognised as part of the cost VM HJX\PZP[PVU VM [OL HZZL[ VY HZ WHY[ VM [OL L_WLUZL P[LT HZ HWWSPJHISL

0Z H Z\IZPKPHY` HJX\PYLK L_JS\ZP]LS` ^P[O H view to resale.

ANNUAL REPORT 2016-17

73

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 directly attributable cost of bringing the asset to its working condition for the intended use. Any trade discounts and rebates are deducted in arriving at the purchase price.

H P[ PZ WYVIHISL [OH[ M\[\YL LJVUVTPJ ILULÄ[Z HZZVJPH[LK ^P[O [OL P[LT ^PSS ÅV^ [V [OL entity; and

I [OL JVZ[ VM [OL P[LT JHU IL TLHZ\YLK reliably.

( SS V[OLY L_WLUZLZ VU L_PZ[PUN HZZL[Z PUJS\KPUN day- to- day repair and maintenance expenditure HUK JVZ[ VM YLWSHJPUN WHY[Z HYL JOHYNLK [V [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ MVY [OL WLYPVK K\YPUN which such expenses are incurred.

> OLU ZPNUPÄJHU[ WHY[Z VM WSHU[ HUK LX\PWTLU[ HYL YLX\PYLK [V IL YLWSHJLK H[ PU[LY]HSZ [OL *VTWHU` KLWYLJPH[LZ [OLT ZLWHYH[LS` IHZLK VU [OLPY ZWLJPÄJ \ZLM\S SP]LZ 3PRL^PZL ^OLU H THQVY PUZWLJ[PVU PZ WLYMVYTLK P[Z JVZ[ PZ YLJVNUPZLK PU [OL JHYY`PUN HTV\U[ VM [OL WSHU[ HUK LX\PWTLU[ as a replacement if the recognition criteria are ZH[PZÄLK (SS V[OLY YLWHPY HUK THPU[LUHUJL JVZ[Z HYL YLJVNUPZLK PU :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ HZ incurred. The present value of the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a provision are met.

-HJ[VY` )\PSKPUNZ )\PSKPUNZ V[OLY [OHU MHJ[VY` I\PSKPUNZ Plant & Machinery 0; ,X\PWTLU[Z 6MÄJL ,X\PWTLU[Z -\YUP[\YL HUK -P[[PUNZ =LOPJSLZ

Recognition: ; OL JVZ[ VM HU P[LT VM WYVWLY[` WSHU[ HUK LX\PWTLU[ ZOHSS IL YLJVNUPZLK HZ HU HZZL[ PM HUK only if:

Type of asset

= HS\L MVY PUKP]PK\HS HZZL[Z HJX\PYLK MYVT º;OL /PUK\Z[HU ;PTLZ 3PTP[LK» [OL OVSKPUN JVTWHU` in an earlier year is allocated based on the valuation carried out by independent expert at [OL [PTL VM HJX\PZP[PVU 6[OLY HZZL[Z HYL Z[H[LK at cost less accumulated depreciation and HJJ\T\SH[LK PTWHPYTLU[ SVZZLZ PM HU` ; OL *VTWHU` PKLU[PÄLZ HUK KL[LYTPULZ JVZ[ VM HZZL[ ZPNUPÄJHU[ [V [OL [V[HS JVZ[ VM [OL HZZL[ having useful life that is materially different from that of the remaining life.

+ LWYLJPH[PVU PZ JHSJ\SH[LK VU H Z[YHPNO[ SPUL IHZPZ over the estimated useful lives of the assets as follows:

74

HT MEDIA LIMITED

Useful lives estimated by management (Years) [V [V [V [V [V [V 8

; OL *VTWHU` IHZLK VU [LJOUPJHS HZZLZZTLU[ made by the management depreciates certain assets over estimated useful lives which are different from the useful life prescribed in :JOLK\SL SS [V [OL *VTWHUPLZ (J[ ;OL THUHNLTLU[ OHZ LZ[PTH[LK Z\WWVY[LK I` [LJOUPJHS HZZLZZTLU[ [OL \ZLM\S SP]LZ VM JLY[HPU WSHU[ HUK THJOPULY` HZ [V `LHYZ ;OLZL useful lives are higher than those indicated in schedule II. The management believes that these LZ[PTH[LK \ZLM\S SP]LZ HYL YLHSPZ[PJ HUK YLÃ…LJ[ fair approximation of the period over which the assets are likely to be used.

+ LWYLJPH[PVU VU [OL WYVWLY[` WSHU[ HUK LX\PWTLU[ is provided over the useful life of assets as ZWLJPÄLK PU :JOLK\SL 00 [V [OL *VTWHUPLZ (J[ 7YVWLY[` 7SHU[ HUK ,X\PWTLU[ ^OPJO HYL HKKLK KPZWVZLK VMM K\YPUN [OL `LHY KLWYLJPH[PVU is provided on pro-rata basis with reference to the month of addition/deletion.

( U P[LT VM WYVWLY[` WSHU[ HUK LX\PWTLU[ HUK HU` ZPNUPÄJHU[ WHY[ PUP[PHSS` YLJVNUPZLK PZ KLYLJVNUPZLK upon disposal or when no future economic ILULÄ[Z HYL L_WLJ[LK MYVT P[Z \ZL VY KPZWVZHS Any gain or loss arising on de-recognition of the HZZL[ JHSJ\SH[LK HZ [OL KPMMLYLUJL IL[^LLU [OL net disposal proceeds and the carrying amount VM [OL HZZL[ PZ PUJS\KLK PU [OL PUJVTL Z[H[LTLU[ when the asset is derecognised.

4 VKPÄJH[PVU VY L_[LUZPVU [V HU L_PZ[PUN HZZL[ which is of capital nature and which becomes an integral part thereof is depreciated prospectively over the remaining useful life of that asset.

, _WLUKP[\YL KPYLJ[S` YLSH[PUN [V JVUZ[Y\J[PVU activity is capitalized. Indirect expenditure incurred during construction period is capitalized as a part of indirect construction cost to the extent

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 the expenditure is related to construction or is incidental thereto. Other indirect costs incurred during the construction periods which are not related to construction activity nor are incidental [OLYL[V HYL JOHYNLK [V :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ 9LPU]LZ[LK PUJVTL LHYULK K\YPUN [OL construction period is adjusted against the total of indirect expenditure.

; OL YLZPK\HS ]HS\LZ \ZLM\S SP]LZ HUK TL[OVKZ VM KLWYLJPH[PVU VM WYVWLY[` WSHU[ HUK LX\PWTLU[ HYL YL]PL^LK H[ LHJO ÄUHUJPHS `LHY LUK HUK HKQ\Z[LK WYVZWLJ[P]LS` PM HWWYVWYPH[L

h)

Investment properties 0 U]LZ[TLU[ WYVWLY[PLZ HYL WYVWLY[PLZ SHUK HUK I\PSKPUNZ [OH[ HYL OLSK MVY SVUN [LYT rental yields and/or for capital appreciation. Investment properties are measured initially at JVZ[ PUJS\KPUN [YHUZHJ[PVU JVZ[Z :\IZLX\LU[ [V PUP[PHS YLJVNUP[PVU PU]LZ[TLU[ WYVWLY[PLZ HYL stated at cost less accumulated depreciation and HJJ\T\SH[LK PTWHPYTLU[ SVZZ PM HU`

i)

Intangible assets 0 U[HUNPISL HZZL[Z HJX\PYLK ZLWHYH[LS` HYL measured on initial recognition at cost. The JVZ[ VM PU[HUNPISL HZZL[Z HJX\PYLK PU H I\ZPULZZ combination is their fair value at the date VM HJX\PZP[PVU -VSSV^PUN PUP[PHS YLJVNUP[PVU intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated PU[HUNPISLZ L_JS\KPUN JHWP[HSPZLK KL]LSVWTLU[ JVZ[Z HYL UV[ JHWP[HSPZLK HUK [OL YLSH[LK L_WLUKP[\YL PZ YLÅLJ[LK PU WYVÄ[ VY SVZZ PU [OL period in which the expenditure is incurred.

= HS\L MVY PUKP]PK\HS ZVM[^HYL SPJLUZL HJX\PYLK from the holding company in an earlier year is allocated based on the valuation carried out by HU PUKLWLUKLU[ L_WLY[ H[ [OL [PTL VM HJX\PZP[PVU

6 U [YHUZP[PVU [V 0UK (: [OL *VTWHU` OHZ elected to continue with the carrying value of all VM P[Z 0U[HUNPISL HZZL[Z YLJVNUPZLK HZ H[ (WYPS TLHZ\YLK HZ WLY [OL 0UKPHU .((7 HUK \ZL that carrying value as the deemed cost of the Intangible assets.

; OL *VTWHU` KLWYLJPH[LZ I\PSKPUN JVTWVULU[ VM PU]LZ[TLU[ WYVWLY[` V]LY `LHYZ MYVT [OL date property is ready for possession. ; OV\NO [OL *VTWHU` TLHZ\YLZ PU]LZ[TLU[ WYVWLY[` \ZPUN JVZ[ IHZLK TLHZ\YLTLU[ [OL MHPY value of investment property is disclosed in the UV[LZ -HPY ]HS\LZ HYL KL[LYTPULK IHZLK VU HU annual evaluation performed by an accredited external independent valuer.

The useful lives of intangible assets are assessed HZ LP[OLY ÄUP[L VY PUKLÄUP[L

0 U[HUNPISL HZZL[Z ^P[O ÄUP[L SP]LZ HYL HTVY[PaLK over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method MVY HU PU[HUNPISL HZZL[ ^P[O H ÄUP[L \ZLM\S SPML HYL reviewed at least at the end of each reporting WLYPVK *OHUNLZ PU [OL L_WLJ[LK \ZLM\S SPML VY the expected pattern of consumption of future LJVUVTPJ ILULÄ[Z LTIVKPLK PU [OL HZZL[ HYL considered to modify the amortisation period VY TL[OVK HZ HWWYVWYPH[L HUK HYL [YLH[LK as changes in accounting estimates. The amortisation expense on intangible assets with ÄUP[L SP]LZ PZ YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ and Loss.

0 U[HUNPISL HZZL[Z ^P[O PUKLÄUP[L \ZLM\S SP]LZ HYL UV[ HTVY[PaLK I\[ HYL [LZ[LK MVY PTWHPYTLU[ HUU\HSS` LP[OLY PUKP]PK\HSS` VY H[ [OL JHZO NLULYH[PUN \UP[ SL]LS ;OL HZZLZZTLU[ VM PUKLÄUP[L life is reviewed annually to determine whether the PUKLÄUP[L SPML JVU[PU\LZ [V IL Z\WWVY[HISL 0M UV[

6 U [YHUZP[PVU [V 0UK (: [OL *VTWHU` OHZ elected to continue with the carrying value of all of its Investment properties recognised as at (WYPS TLHZ\YLK HZ WLY [OL 0UKPHU .((7 and use that carrying value as the deemed cost of the Investment Properties. Investment properties are derecognised either when they have been disposed off or when they are permanently withdrawn from use and no M\[\YL LJVUVTPJ ILULÄ[ PZ L_WLJ[LK MYVT [OLPY disposal. The difference between the net disposal proceeds and the carrying amount of the asset is YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ PU the period of de-recognition.

ANNUAL REPORT 2016-17

75

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 [OL JOHUNL PU \ZLM\S SPML MYVT PUKLÄUP[L [V ÄUP[L PZ made on a prospective basis.

. HPUZ VY SVZZLZ HYPZPUN MYVT KL YLJVNUP[PVU VM HU intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ ^OLU [OL asset is derecognised.

>LIZP[L +L]LSVWTLU[ Software licenses 3PJLUZL -LLZ 6UL [PTL LU[Y` MLL 4\ZPJ JVU[LU[Z MVY 9HKPV )\ZPULZZ

j)

k)

76

0 U[HUNPISL HZZL[Z ^P[O ÄUP[L SP]LZ HYL HTVY[PaLK on straight line basis using the estimated useful life as follows: Intangible assets

Useful lives( in years) 4

Borrowing costs ) VYYV^PUN JVZ[ PUJS\KLZ PU[LYLZ[ HTVY[PaH[PVU of ancillary costs incurred in connection with the arrangement of borrowings and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost.

-VY HYYHUNLTLU[Z LU[LYLK PU[V WYPVY [V (WYPS [OL *VTWHU` OHZ KL[LYTPULK ^OL[OLY [OL arrangement contains lease on the basis of facts and circumstances existing on the date of transition.

HT MEDIA LIMITED

PUHUJL SLHZLZ HYL JHWP[HSPZLK H[ [OL commencement of the lease at the inception KH[L MHPY ]HS\L VM [OL SLHZLK WYVWLY[` VY PM SV^LY at the present value of the minimum lease payments. Lease payments are apportioned IL[^LLU ÄUHUJL JOHYNLZ HUK YLK\J[PVU VM [OL lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. -PUHUJL JOHYNLZ HYL YLJVNUPZLK PU ÄUHUJL JVZ[Z PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ \USLZZ [OL` HYL KPYLJ[S` H[[YPI\[HISL [V X\HSPM`PUN HZZL[Z PU which case they are capitalized in accordance ^P[O [OL *VTWHU`»Z NLULYHS WVSPJ` VU [OL IVYYV^PUN JVZ[Z 9LMLY UV[L *VU[PUNLU[ rentals are recognised as expenses in the periods in which they are incurred. A leased asset is depreciated over the useful life VM [OL HZZL[ /V^L]LY PM [OLYL PZ UV YLHZVUHISL JLY[HPU[` [OH[ [OL *VTWHU` ^PSS VI[HPU V^ULYZOPW I` [OL LUK VM [OL SLHZL [LYT [OL HZZL[ PZ depreciated over the shorter of the estimated useful life of the asset and the lease term.

) VYYV^PUN JVZ[Z PM HU` KPYLJ[S` H[[YPI\[HISL [V [OL HJX\PZP[PVU JVUZ[Y\J[PVU VY WYVK\J[PVU VM HU asset that necessarily takes a substantial period of time to get ready for its intended use or sale HYL JHWP[HSPaLK PM HU` (SS V[OLY IVYYV^PUN JVZ[Z are expensed in the period in which they occur. Leases The determination of whether an arrangement is VY JVU[HPUZ H SLHZL PZ IHZLK VU [OL Z\IZ[HUJL VM the arrangement at the inception of the lease. The HYYHUNLTLU[ PZ VY JVU[HPUZ H SLHZL PM M\SÄSTLU[ of the arrangement is dependent on the use of H ZWLJPÄJ HZZL[ VY HZZL[Z HUK [OL HYYHUNLTLU[ JVU]L`Z H YPNO[ [V \ZL [OL HZZL[ VY HZZL[Z L]LU PM [OH[ YPNO[ PZ UV[ L_WSPJP[S` ZWLJPÄLK PU HU arrangement.

Company as a lessee ( SLHZL PZ JSHZZPÄLK H[ [OL PUJLW[PVU KH[L HZ H ÄUHUJL SLHZL VY HU VWLYH[PUN SLHZL ( SLHZL [OH[ transfers substantially all the risks and rewards PUJPKLU[HS [V V^ULYZOPW [V [OL *VTWHU` PZ JSHZZPÄLK HZ H ÄUHUJL SLHZL

Leasehold improvements represent expenses PUJ\YYLK [V^HYKZ JP]PS ^VYRZ PU[LYPVYZ M\YUPZOPUNZ etc. on the leased premises at various locations. Operating lease payments are recognised as an L_WLUZL PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ VU H straight-line basis over the lease term.

Company as a lessor 3 LHZLZ HYL JSHZZPÄLK HZ ÄUHUJL SLHZLZ ^OLU substantially all of the risks and rewards of V^ULYZOPW [YHUZMLY MYVT [OL *VTWHU` [V [OL SLZZLL (TV\U[Z K\L MYVT SLZZLLZ \UKLY ÄUHUJL leases are recorded as receivables at the *VTWHU`»Z UL[ PU]LZ[TLU[ PU [OL SLHZLZ -PUHUJL lease income is allocated to accounting periods ZV HZ [V YLÃ…LJ[ H JVUZ[HU[ WLYPVKPJ YH[L VM YL[\YU on the net investment outstanding in respect of the lease.

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

3 LHZLZ PU ^OPJO [OL *VTWHU` KVLZ UV[ [YHUZMLY substantially all the risks and rewards of V^ULYZOPW VM HU HZZL[ HYL JSHZZPÄLK HZ VWLYH[PUN SLHZLZ 9LU[HS PUJVTL MYVT VWLYH[PUN SLHZL PZ recognised on straight line basis over the term of the relevant lease.

* VU[PUNLU[ YLU[Z HYL YLJVNUPZLK HZ YL]LU\L PU the period in which they are earned.

l)

Inventories Inventories are valued as follows : Lower of cost and net realizable value. /V^L]LY TH[LYPHS HUK V[OLY P[LTZ OLSK for use in the production of inventories are not written down below cost if the ÄUPZOLK WYVK\J[Z PU ^OPJO [OL` ^PSS IL incorporated are expected to be sold at VY HIV]L JVZ[ *VZ[ PZ KL[LYTPULK VU H weighted average basis. Lower of cost and net realizable value. Work- in*VZ[ PUJS\KLZ KPYLJ[ TH[LYPHSZ HUK H progress HUK ÄUPZOLK proportion of manufacturing overheads based on normal operating capacity. goods *VZ[ PZ KL[LYTPULK VU H ^LPNO[LK average basis. At net realizable value Scrap and waste papers 9H^ TH[LYPHSZ stores and spares

Net realisable value is the estimated selling price PU [OL VYKPUHY` JV\YZL VM I\ZPULZZ SLZZ LZ[PTH[LK costs of completion and the estimated costs necessary to make the sale.

m)

Impairment of non-financial assets ( ;OL *VTWHU` HZZLZZLZ H[ LHJO YLWVY[PUN KH[L ^OL[OLY [OLYL PZ HU PUKPJH[PVU [OH[ HU HZZL[ TH` IL PTWHPYLK 0M HU` PUKPJH[PVU L_PZ[Z or when annual impairment testing for an asset PZ YLX\PYLK [OL *VTWHU` LZ[PTH[LZ [OL HZZL[»Z YLJV]LYHISL HTV\U[ (U HZZL[»Z YLJV]LYHISL HTV\U[ PZ [OL OPNOLY VM HU HZZL[»Z VY JHZO NLULYH[PUN \UP[»Z *.< MHPY ]HS\L SLZZ JVZ[Z VM KPZWVZHS HUK P[Z ]HS\L PU \ZL 9LJV]LYHISL HTV\U[ PZ KL[LYTPULK MVY HU PUKP]PK\HS HZZL[ \USLZZ [OL HZZL[ KVLZ UV[ NLULYH[L JHZO PUÃ…V^Z [OH[ HYL largely independent of those from other assets or groups of assets. When the carrying amount VM HU HZZL[ VY *.< L_JLLKZ P[Z YLJV]LYHISL HTV\U[ [OL HZZL[ PZ JVUZPKLYLK PTWHPYLK HUK PZ written down to its recoverable amount.

0 U HZZLZZPUN ]HS\L PU \ZL [OL LZ[PTH[LK M\[\YL JHZO Ã…V^Z HYL KPZJV\U[LK [V [OLPY WYLZLU[ ]HS\L \ZPUN H WYL [H_ KPZJV\U[ YH[L [OH[ YLÃ…LJ[Z J\YYLU[ market assessments of the time value of money HUK [OL YPZRZ ZWLJPÄJ [V [OL HZZL[ 0U KL[LYTPUPUN MHPY ]HS\L SLZZ JVZ[Z VM KPZWVZHS YLJLU[ THYRL[ transactions are taken into account. If no such [YHUZHJ[PVUZ JHU IL PKLU[PÄLK HU HWWYVWYPH[L valuation model is used. These calculations are JVYYVIVYH[LK I` ]HS\H[PVU T\S[PWSLZ X\V[LK ZOHYL WYPJLZ MVY W\ISPJS` [YHKLK *VTWHU`»Z VY other available fair value indicators.

; OL *VTWHU` IHZLZ P[Z PTWHPYTLU[ JHSJ\SH[PVU VU KL[HPSLK I\KNL[Z HUK MVYLJHZ[ JHSJ\SH[PVUZ which are prepared separately for each of the *VTWHU`»Z *.<Z [V ^OPJO [OL PUKP]PK\HS HZZL[Z are allocated. These budgets and forecast JHSJ\SH[PVUZ NLULYHSS` JV]LY H WLYPVK VM Ä]L `LHYZ -VY SVUNLY WLYPVKZ H SVUN [LYT NYV^[O rate is calculated and applied to project future JHZO Ã…V^Z HM[LY [OL ÄM[O `LHY ;V LZ[PTH[L JHZO Ã…V^ WYVQLJ[PVUZ IL`VUK WLYPVKZ JV]LYLK I` [OL TVZ[ YLJLU[ I\KNL[Z MVYLJHZ[Z [OL *VTWHU` L_[YHWVSH[LZ JHZO Ã…V^ WYVQLJ[PVUZ PU [OL I\KNL[ using a steady or declining growth rate for Z\IZLX\LU[ `LHYZ \USLZZ HU PUJYLHZPUN YH[L JHU IL Q\Z[PÄLK 0U HU` JHZL [OPZ NYV^[O YH[L KVLZ not exceed the long-term average growth rate for [OL WYVK\J[Z PUK\Z[YPLZ VY JV\U[Y` VY JV\U[YPLZ PU ^OPJO [OL LU[P[` VWLYH[LZ VY MVY [OL THYRL[ PU which the asset is used.

0 TWHPYTLU[ SVZZLZ VM JVU[PU\PUN VWLYH[PVUZ PUJS\KPUN PTWHPYTLU[ VU PU]LU[VYPLZ HYL YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ An assessment is made at each reporting date to determine whether there is an indication that previously recognised impairment losses no longer exist or have decreased. If such indication L_PZ[Z [OL *VTWHU` LZ[PTH[LZ [OL HZZL[»Z VY *.<»Z YLJV]LYHISL HTV\U[ ( WYL]PV\ZS` recognised impairment loss is reversed only if there has been a change in the assumptions \ZLK [V KL[LYTPUL [OL HZZL[»Z YLJV]LYHISL amount since the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed P[Z YLJV]LYHISL HTV\U[ UVY L_JLLK [OL JHYY`PUN HTV\U[ [OH[ ^V\SK OH]L ILLU KL[LYTPULK UL[ VM KLWYLJPH[PVU OHK UV PTWHPYTLU[ SVZZ ILLU

ANNUAL REPORT 2016-17

77

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 recognised for the asset in prior years. Such YL]LYZHS PZ YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ and Loss unless the asset is carried at a revalued HTV\U[ PU ^OPJO JHZL [OL YL]LYZHS PZ [YLH[LK HZ a revaluation increase.

0 U[HUNPISL HZZL[Z ^P[O PUKLÄUP[L \ZLM\S SP]LZ HYL [LZ[LK MVY PTWHPYTLU[ HUU\HSS` H[ [OL *.< SL]LS HZ HWWYVWYPH[L HUK ^OLU JPYJ\TZ[HUJLZ PUKPJH[L that the carrying value may be impaired.

n)

Provisions 7 YV]PZPVUZ HYL YLJVNUPZLK ^OLU [OL *VTWHU` OHZ H WYLZLU[ VISPNH[PVU SLNHS VY JVUZ[Y\J[P]L HZ H YLZ\S[ VM H WHZ[ L]LU[ P[ PZ WYVIHISL [OH[ HU V\[ÅV^ VM YLZV\YJLZ LTIVK`PUN LJVUVTPJ ILULÄ[Z ^PSS IL YLX\PYLK [V ZL[[SL [OL VISPNH[PVU and a reliable estimate can be made of the HTV\U[ VM [OL VISPNH[PVU >OLU [OL *VTWHU` expects some or all of a provision to be YLPTI\YZLK MVY L_HTWSL \UKLY HU PUZ\YHUJL JVU[YHJ[ [OL YLPTI\YZLTLU[ PZ YLJVNUPZLK HZ H ZLWHYH[L HZZL[ I\[ VUS` ^OLU [OL YLPTI\YZLTLU[ is virtually certain. The expense relating to a WYV]PZPVU PZ WYLZLU[LK PU [OL :[H[LTLU[ VM 7YVÄ[ and Loss net of any reimbursement.

o)

78

M\UK ZJOLTL HZ HU L_WLUZL ^OLU HU LTWSV`LL renders the related service. If the contribution payable to the scheme for service received before the balance sheet date exceeds the contribution HSYLHK` WHPK [OL KLÄJP[ WH`HISL [V [OL ZJOLTL is recognized as a liability after deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received before the balance sheet KH[L [OLU L_JLZZ PZ YLJVNUPaLK HZ HU HZZL[ [V [OL L_[LU[ [OH[ [OL WYL WH`TLU[ ^PSS SLHK [V MVY L_HTWSL H YLK\J[PVU PU M\[\YL WH`TLU[ VY H JHZO refund.

; OL *VTWHU` YLJVNUPaLZ [LYTPUH[PVU ILULÄ[ HZ H SPHIPSP[` HUK HU L_WLUZL ^OLU [OL *VTWHU` OHZ H WYLZLU[ VISPNH[PVU HZ H YLZ\S[ VM WHZ[ L]LU[ P[ PZ WYVIHISL [OH[ HU V\[ÅV^ VM YLZV\YJLZ LTIVK`PUN LJVUVTPJ ILULÄ[Z ^PSS IL YLX\PYLK [V ZL[[SL [OL obligation and a reliable estimate can be made of the amount of the obligation. If the termination ILULÄ[Z MHSS K\L TVYL [OHU TVU[OZ HM[LY [OL IHSHUJL ZOLL[ KH[L [OL` HYL TLHZ\YLK H[ WYLZLU[ ]HS\L VM M\[\YL JHZO ÅV^Z \ZPUN [OL KPZJV\U[ YH[L determined by reference to market yields at the balance sheet date on government bonds.

9 L TLHZ\YLTLU[Z JVTWYPZPUN VM HJ[\HYPHS NHPUZ HUK SVZZLZ [OL LMMLJ[ VM [OL HZZL[ JLPSPUN excluding amounts included in net interest on [OL UL[ KLÄULK ILULÄ[ SPHIPSP[` HUK [OL YL[\YU VU WSHU HZZL[Z L_JS\KPUN HTV\U[Z PUJS\KLK PU UL[ PU[LYLZ[ VU [OL UL[ KLÄULK ILULÄ[ SPHIPSP[` HYL recognised immediately in the balance sheet with a corresponding debit or credit to retained LHYUPUNZ [OYV\NO 6*0 PU [OL WLYPVK PU ^OPJO [OL` VJJ\Y 9L TLHZ\YLTLU[Z HYL UV[ YLJSHZZPÄLK [V WYVÄ[ VY SVZZ PU Z\IZLX\LU[ WLYPVKZ

7 HZ[ ZLY]PJL JVZ[Z HYL YLJVNUPZLK PU WYVÄ[ VY SVZZ on the earlier of:

0 M [OL LMMLJ[ VM [OL [PTL ]HS\L VM TVUL` PZ TH[LYPHS provisions are discounted using a current pre-tax YH[L [OH[ YLÅLJ[Z ^OLU HWWYVWYPH[L [OL YPZRZ ZWLJPÄJ [V [OL SPHIPSP[` >OLU KPZJV\U[PUN PZ \ZLK the increase in the provision due to the passage VM [PTL PZ YLJVNUPZLK HZ H ÄUHUJL JVZ[ Retirement and other Employee Benefits Short term employee benefits and defined contribution plans: ( SS LTWSV`LL ILULÄ[Z WH`HISL H]HPSHISL ^P[OPU twelve months of rendering the service are JSHZZPÄLK HZ ZOVY[ [LYT LTWSV`LL ILULÄ[Z )LULÄ[Z Z\JO HZ ZHSHYPLZ ^HNLZ HUK IVU\Z L[J HYL YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ HUK Loss in the period in which the employee renders the related service. 9 L[PYLTLU[ ILULÄ[ PU [OL MVYT VM WYV]PKLU[ M\UK PZ H KLÄULK JVU[YPI\[PVU ZJOLTL ;OL *VTWHU` OHZ UV VISPNH[PVU V[OLY [OHU [OL JVU[YPI\[PVU WH`HISL [V [OL WYV]PKLU[ M\UK ;OL *VTWHU` recognizes contribution payable to the provident

HT MEDIA LIMITED

Gratuity . YH[\P[` PZ H KLÄULK ILULÄ[ ZJOLTL ;OL JVZ[ VM WYV]PKPUN ILULÄ[Z \UKLY [OL KLÄULK ILULÄ[ plan is determined using the projected unit credit method.

•

The date of the plan amendment or J\Y[HPSTLU[ HUK

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

‹

;OL KH[L [OH[ [OL *VTWHU` YLJVNUPZLZ related restructuring cost

Net interest is calculated by applying the discount YH[L [V [OL UL[ KLÄULK ILULÄ[ SPHIPSP[` VY HZZL[

; OL *VTWHU` YLJVNUPZLZ [OL MVSSV^PUN JOHUNLZ PU [OL UL[ KLÄULK ILULÄ[ VISPNH[PVU HZ HU L_WLUZL PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ! •

•

p)

Service costs comprising current service JVZ[Z WHZ[ ZLY]PJL JVZ[Z NHPUZ HUK losses on curtailments and non-routine settlements; and Net interest expense or income

Compensated Absences ( JJ\T\SH[LK SLH]L ^OPJO PZ L_WLJ[LK [V IL \[PSPaLK ^P[OPU [OL UL_[ TVU[OZ PZ [YLH[LK HZ ZOVY[ [LYT LTWSV`LL ILULÄ[ ;OL *VTWHU` measures the expected cost of such absences as the additional amount that it expects to pay as a result of the unused entitlement that has accumulated at the reporting date. ; OL *VTWHU` [YLH[Z HJJ\T\SH[LK SLH]L L_WLJ[LK [V IL JHYYPLK MVY^HYK IL`VUK [^LS]L TVU[OZ HZ SVUN [LYT LTWSV`LL ILULÄ[ MVY TLHZ\YLTLU[ purposes. Such long- term compensated absences are provided for based on the actuarial valuation using the projected unit credit method H[ [OL WLYPVK LUK 9L TLHZ\YLTLU[Z JVTWYPZPUN VM HJ[\HYPHS NHPUZ HUK SVZZLZ HYL PTTLKPH[LS` [HRLU [V [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ HUK HYL UV[ KLMLYYLK ;OL *VTWHU` WYLZLU[Z [OL leave as a current liability in the balance sheet to the extent it does not have an unconditional YPNO[ [V KLMLY P[Z ZL[[SLTLU[ MVY TVU[OZ HM[LY [OL YLWVY[PUN KH[L >OLYL *VTWHU` OHZ [OL unconditional legal and contractual right to defer [OL ZL[[SLTLU[ MVY H WLYPVK IL`VUK TVU[OZ the same is presented as non- current liability. Share-based payments , TWSV`LLZ PUJS\KPUN ZLUPVY L_LJ\[P]LZ VM [OL *VTWHU` YLJLP]L YLT\ULYH[PVU PU [OL MVYT VM ZOHYL IHZLK WH`TLU[Z ^OLYLI` LTWSV`LLZ YLUKLY ZLY]PJLZ HZ JVUZPKLYH[PVU MVY LX\P[` PUZ[Y\TLU[Z LX\P[` ZL[[SLK [YHUZHJ[PVUZ

Equity-settled transactions ; OL JVZ[ VM LX\P[` ZL[[SLK [YHUZHJ[PVUZ PZ determined by the fair value at the date when the grant is made using an appropriate valuation TVKLS ;OL *VTWHU` OHZ H]HPSLK VW[PVU \UKLY 0UK (: [V HWWS` PU[YPUZPJ ]HS\L TL[OVK [V the options already vested before the date of [YHUZP[PVU HUK HWWSPLK 0UK (: :OHYL IHZLK WH`TLU[ [V LX\P[` PUZ[Y\TLU[Z [OH[ YLTHPU unvested as of transition date. ; OH[ JVZ[ PZ YLJVNUPZLK [VNL[OLY ^P[O H corresponding increase in share-based payment :)7 YLZLY]LZ PU LX\P[` V]LY [OL WLYPVK PU ^OPJO the performance and/or service conditions are M\SÄSSLK PU LTWSV`LL ILULÄ[Z L_WLUZL ;OL J\T\SH[P]L L_WLUZL YLJVNUPZLK MVY LX\P[` settled transactions at each reporting date until [OL ]LZ[PUN KH[L YLÃ…LJ[Z [OL L_[LU[ [V ^OPJO [OL ]LZ[PUN WLYPVK OHZ L_WPYLK HUK [OL *VTWHU`»Z ILZ[ LZ[PTH[L VM [OL U\TILY VM LX\P[` PUZ[Y\TLU[Z that will ultimately vest. The Statement of 7YVÄ[ HUK 3VZZ L_WLUZL VY JYLKP[ MVY H WLYPVK represents the movement in cumulative expense recognised as at the beginning and end of that WLYPVK HUK PZ YLJVNUPZLK PU LTWSV`LL ILULÄ[Z expense. Service and non-market performance conditions are not taken into account when determining the NYHU[ KH[L MHPY ]HS\L VM H^HYKZ I\[ [OL SPRLSPOVVK of the conditions being met is assessed as part VM [OL *VTWHU`»Z ILZ[ LZ[PTH[L VM [OL U\TILY VM LX\P[` PUZ[Y\TLU[Z [OH[ ^PSS \S[PTH[LS` ]LZ[ 4HYRL[ WLYMVYTHUJL JVUKP[PVUZ HYL YLÃ…LJ[LK ^P[OPU the grant date fair value. Any other conditions H[[HJOLK [V HU H^HYK I\[ ^P[OV\[ HU HZZVJPH[LK ZLY]PJL YLX\PYLTLU[ HYL JVUZPKLYLK [V IL UVU vesting conditions. Non-vesting conditions are YLÃ…LJ[LK PU [OL MHPY ]HS\L VM HU H^HYK HUK SLHK [V an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognised for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting JVUKP[PVU [OL [YHUZHJ[PVUZ HYL [YLH[LK HZ ]LZ[LK irrespective of whether the market or non]LZ[PUN JVUKP[PVU PZ ZH[PZÄLK WYV]PKLK [OH[ HSS other performance and/or service conditions are ZH[PZÄLK

ANNUAL REPORT 2016-17

79

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 >OLU [OL [LYTZ VM HU LX\P[` ZL[[SLK H^HYK HYL TVKPÄLK [OL TPUPT\T L_WLUZL YLJVNUPZLK is the expense had the terms had not been TVKPÄLK PM [OL VYPNPUHS [LYTZ VM [OL H^HYK HYL met. An additional expense is recognised for any TVKPÄJH[PVU [OH[ PUJYLHZLZ [OL [V[HS MHPY ]HS\L VM [OL ZOHYL IHZLK WH`TLU[ [YHUZHJ[PVU VY PZ V[OLY^PZL ILULÄJPHS [V [OL LTWSV`LL HZ TLHZ\YLK H[ [OL KH[L VM TVKPÄJH[PVU >OLYL HU H^HYK PZ JHUJLSSLK I` [OL LU[P[` VY I` [OL JV\U[LYWHY[` HU` remaining element of the fair value of the award is L_WLUZLK PTTLKPH[LS` [OYV\NO WYVÄ[ VY SVZZ

I *VU[YHJ[\HS [LYTZ VM [OL HZZL[ NP]L YPZL VU ZWLJPÄLK KH[LZ [V JHZO ÅV^Z [OH[ HYL ZVSLS` WH`TLU[Z VM WYPUJPWHS HUK PU[LYLZ[ :770 VU the principal amount outstanding.

( M[LY PUP[PHS TLHZ\YLTLU[ Z\JO ÄUHUJPHS HZZL[Z HYL Z\IZLX\LU[S` TLHZ\YLK H[ HTVY[PaLK JVZ[ \ZPUN [OL LMMLJ[P]L PU[LYLZ[ YH[L ,09 TL[OVK Amortized cost is calculated by taking into HJJV\U[ HU` KPZJV\U[ VY WYLTP\T VU HJX\PZP[PVU and fees or costs that are an integral part of the ,09 ;OL ,09 HTVY[PZH[PVU PZ PUJS\KLK PU ÄUHUJL PUJVTL PU [OL WYVÄ[ VY SVZZ ;OL SVZZLZ HYPZPUN MYVT PTWHPYTLU[ HYL YLJVNUPZLK PU [OL WYVÄ[ VY loss. This category generally applies to trade HUK V[OLY YLJLP]HISLZ -VY TVYL PUMVYTH[PVU VU YLJLP]HISLZ YLMLY 5V[L

0 U HKKP[PVU [OL *VTWHU` TH` LSLJ[ [V KLZPNUH[L a debt instrument which otherwise meets HTVY[PaLK JVZ[ VY -=;6*0 JYP[LYPH HZ H[ -=;73 /V^L]LY Z\JO LSLJ[PVU PZ HSSV^LK VUS` PM KVPUN so reduces or eliminates a measurement VY YLJVNUP[PVU PUJVUZPZ[LUJ` YLMLYYLK [V HZ ºHJJV\U[PUN TPZTH[JO»

+ LI[ PUZ[Y\TLU[Z PUJS\KLK ^P[OPU [OL -=;73 category are measured at fair value with all JOHUNLZ YLJVNUPaLK PU [OL :[H[LTLU[ VM 7YVÄ[ and Loss.

The dilutive effect of outstanding options is YLÃ…LJ[LK HZ HKKP[PVUHS ZOHYL KPS\[PVU PU [OL computation of diluted earnings per share. q)

Financial instruments ( ÄUHUJPHS PUZ[Y\TLU[ PZ HU` JVU[YHJ[ [OH[ NP]LZ YPZL [V H ÄUHUJPHS HZZL[ VM VUL LU[P[` HUK H ÄUHUJPHS SPHIPSP[` VY LX\P[` PUZ[Y\TLU[ VM HUV[OLY LU[P[` Financial assets Initial recognition and measurement ( SS ÄUHUJPHS HZZL[Z HYL YLJVNUPZLK PUP[PHSS` H[ MHPY ]HS\L WS\Z PU [OL JHZL VM ÄUHUJPHS HZZL[Z UV[ YLJVYKLK H[ MHPY ]HS\L [OYV\NO WYVÄ[ VY SVZZ transaction costs that are attributable to the HJX\PZP[PVU VM [OL ÄUHUJPHS HZZL[ Subsequent measurement VY W\YWVZLZ VM Z\IZLX\LU[ TLHZ\YLTLU[ ÄUHUJPHS HZZL[Z HYL JSHZZPÄLK PU MV\Y JH[LNVYPLZ!

‹

+LI[ PUZ[Y\TLU[Z H[ HTVY[PaLK JVZ[

‹

+LI[ PUZ[Y\TLU[Z KLYP]H[P]LZ HUK LX\P[` PUZ[Y\TLU[Z H[ MHPY ]HS\L [OYV\NO WYVÄ[ VY SVZZ -=;73

‹

,X\P[` PUZ[Y\TLU[Z TLHZ\YLK H[ MHPY ]HS\L through other comprehensive income -=;6*0

Debt instruments at amortized cost ( ºKLI[ PUZ[Y\TLU[» PZ TLHZ\YLK H[ [OL HTVY[PaLK cost if both the following conditions are met:

H

80

HT MEDIA LIMITED

;OL HZZL[ PZ OLSK ^P[OPU H I\ZPULZZ TVKLS whose objective is to hold assets for JVSSLJ[PUN JVU[YHJ[\HS JHZO Ã…V^Z HUK

Debt instruments at FVTPL =;73 PZ H YLZPK\HS JH[LNVY` MVY KLI[ PUZ[Y\TLU[Z (U` KLI[ PUZ[Y\TLU[ ^OPJO KVLZ UV[ TLL[ [OL criteria for categorization as at amortized cost or HZ -=;6*0 PZ JSHZZPÄLK HZ H[ -=;73

Equity investments ( SS LX\P[` PU]LZ[TLU[Z PU ZJVWL VM 0UK (: HYL TLHZ\YLK H[ MHPY ]HS\L ,X\P[` PUZ[Y\TLU[Z which are held for trading and contingent JVUZPKLYH[PVU YLJVNUPZLK I` HU HJX\PYLY PU H I\ZPULZZ JVTIPUH[PVU [V ^OPJO 0UK (: HWWSPLZ HYL 0UK (: JSHZZPÄLK HZ H[ -=;73 -VY HSS V[OLY LX\P[` PUZ[Y\TLU[Z [OL *VTWHU` TH` make an irrevocable election to present in other JVTWYLOLUZP]L PUJVTL Z\IZLX\LU[ JOHUNLZ PU [OL MHPY ]HS\L ;OL *VTWHU` THRLZ Z\JO LSLJ[PVU on an instrument-by-instrument basis. The JSHZZPÄJH[PVU PZ THKL VU 0UP[PHS YLJVNUP[PVU HUK PZ irrevocable.

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

De-recognition ( ÄUHUJPHS HZZL[ VY ^OLYL HWWSPJHISL H WHY[ VM H ÄUHUJPHS HZZL[ VY WHY[ VM H *VTWHU` VM ZPTPSHY ÄUHUJPHS HZZL[Z PZ WYPTHYPS` KLYLJVNUPZLK P L YLTV]LK MYVT [OL *VTWHU`»Z IHSHUJL ZOLL[ ^OLU!

H -PUHUJPHS HZZL[Z [OH[ HYL KLI[ PUZ[Y\TLU[Z HUK HYL TLHZ\YLK H[ HTVY[PaLK JVZ[ L N SVHUZ KLI[ ZLJ\YP[PLZ KLWVZP[Z [YHKL receivables and bank balance

I 3LHZL YLJLP]HISLZ \UKLY 0UK (:

J ;YHKL YLJLP]HISLZ VY HU` JVU[YHJ[\HS YPNO[ [V YLJLP]L JHZO VY HUV[OLY ÄUHUJPHS HZZL[ [OH[ result from transactions that are within the ZJVWL VM 0UK (: HUK 0UK (: YLMLYYLK [V HZ ºJVU[YHJ[\HS YL]LU\L YLJLP]HISLZ» PU [OLZL ÄUHUJPHS Z[H[LTLU[Z

; OL *VTWHU` MVSSV^Z ºZPTWSPÄLK HWWYVHJO» for recognition of impairment loss allowance on:

•

Trade receivables or contract revenue receivables; and

•

All lease receivables resulting from [YHUZHJ[PVUZ ^P[OPU [OL ZJVWL VM 0UK (:

0 M [OL *VTWHU` KLJPKLZ [V JSHZZPM` HU LX\P[` PUZ[Y\TLU[ HZ H[ -=;6*0 [OLU HSS MHPY ]HS\L JOHUNLZ VU [OL PUZ[Y\TLU[ L_JS\KPUN KP]PKLUKZ HYL YLJVNUPaLK PU [OL 6*0 ;OLYL PZ UV YLJ`JSPUN VM [OL HTV\U[Z MYVT 6*0 [V :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ L]LU VU ZHSL VM PU]LZ[TLU[ /V^L]LY [OL *VTWHU` TH` [YHUZMLY [OL J\T\SH[P]L NHPU VY SVZZ ^P[OPU LX\P[` , X\P[` PUZ[Y\TLU[Z PUJS\KLK ^P[OPU [OL -=;73 category are measured at fair value with all JOHUNLZ YLJVNUPaLK PU [OL :[H[LTLU[ VM 7YVÄ[ and Loss.

‹

;OL YPNO[Z [V YLJLP]L JHZO Ã…V^Z MYVT [OL HZZL[ OH]L L_WPYLK VY

‹

;OL *VTWHU` OHZ [YHUZMLYYLK P[Z YPNO[Z [V YLJLP]L JHZO Ã…V^Z MYVT [OL HZZL[ VY OHZ assumed an obligation to pay the received JHZO Ã…V^Z PU M\SS ^P[OV\[ TH[LYPHS KLSH` [V H [OPYK WHY[` \UKLY H ºWHZZ [OYV\NO» HYYHUNLTLU[" HUK LP[OLY H [OL *VTWHU` has transferred substantially all the risks and YL^HYKZ VM [OL HZZL[ VY I [OL *VTWHU` OHZ neither transferred nor retained substantially HSS [OL YPZRZ HUK YL^HYKZ VM [OL HZZL[ I\[ has transferred control of the asset.

> OLU [OL *VTWHU` OHZ [YHUZMLYYLK P[Z YPNO[Z [V YLJLP]L JHZO Ã…V^Z MYVT HU HZZL[ VY OHZ LU[LYLK PU[V H WHZZ [OYV\NO HYYHUNLTLU[ P[ L]HS\H[LZ if and to what extent it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the YPZRZ HUK YL^HYKZ VM [OL HZZL[ UVY [YHUZMLYYLK JVU[YVS VM [OL HZZL[ [OL *VTWHU` JVU[PU\LZ to recognise the transferred asset to the extent VM [OL *VTWHU` JVU[PU\PUN PU]VS]LTLU[ 0U [OH[ JHZL [OL *VTWHU` HSZV YLJVNUPZLZ HU associated liability. The transferred asset and the associated liability are measured on a basis [OH[ YLÃ…LJ[Z [OL YPNO[Z HUK VISPNH[PVUZ [OH[ [OL *VTWHU` OHZ YL[HPULK

* VU[PU\PUN PU]VS]LTLU[ [OH[ [HRLZ [OL MVYT VM H guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration [OH[ [OL *VTWHU` JV\SK IL YLX\PYLK [V YLWH` Impairment of financial assets 0 U HJJVYKHUJL ^P[O 0UK (: [OL *VTWHU` HWWSPLZ L_WLJ[LK JYLKP[ SVZZ ,*3 TVKLS MVY measurement and recognition of impairment loss VU [OL MVSSV^PUN ÄUHUJPHS HZZL[Z HUK JYLKP[ YPZR exposure:

; OL HWWSPJH[PVU VM ZPTWSPÄLK HWWYVHJO KVLZ UV[ YLX\PYL [OL *VTWHU` [V [YHJR JOHUNLZ PU JYLKP[ YPZR 9H[OLY P[ YLJVNUPZLZ PTWHPYTLU[ SVZZ HSSV^HUJL IHZLK VU SPML[PTL ,*3Z H[ LHJO YLWVY[PUN KH[L YPNO[ MYVT P[Z PUP[PHS YLJVNUP[PVU

-VY YLJVNUP[PVU VM PTWHPYTLU[ SVZZ VU V[OLY ÄUHUJPHS HZZL[Z HUK YPZR L_WVZ\YL [OL *VTWHU` determines that whether there has been a ZPNUPÄJHU[ PUJYLHZL PU [OL JYLKP[ YPZR ZPUJL PUP[PHS recognition. If credit risk has not increased ZPNUPÄJHU[S` TVU[O ,*3 PZ \ZLK [V WYV]PKL MVY PTWHPYTLU[ SVZZ /V^L]LY PM JYLKP[ YPZR OHZ PUJYLHZLK ZPNUPÄJHU[S` SPML[PTL ,*3 PZ \ZLK 0M PU H

ANNUAL REPORT 2016-17

81

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Z\IZLX\LU[ WLYPVK JYLKP[ X\HSP[` VM [OL PUZ[Y\TLU[ PTWYV]LZ Z\JO [OH[ [OLYL PZ UV SVUNLY H ZPNUPÄJHU[ PUJYLHZL PU JYLKP[ YPZR ZPUJL PUP[PHS YLJVNUP[PVU [OLU the entity reverts to recognising impairment loss HSSV^HUJL IHZLK VU TVU[O ,*3

3 PML[PTL ,*3 HYL [OL L_WLJ[LK JYLKP[ SVZZLZ resulting from all possible default events over [OL L_WLJ[LK SPML VM H ÄUHUJPHS PUZ[Y\TLU[ ;OL TVU[O ,*3 PZ H WVY[PVU VM [OL SPML[PTL ,*3 ^OPJO YLZ\S[Z MYVT KLMH\S[ L]LU[Z [OH[ HYL WVZZPISL ^P[OPU TVU[OZ HM[LY [OL YLWVY[PUN date.

, *3 PZ [OL KPMMLYLUJL IL[^LLU HSS JVU[YHJ[\HS JHZO Ã…V^Z [OH[ HYL K\L [V [OL *VTWHU` PU HJJVYKHUJL ^P[O [OL JVU[YHJ[ HUK HSS [OL JHZO Ã…V^Z [OH[ [OL LU[P[` L_WLJ[Z [V YLJLP]L P L HSS JHZO ZOVY[MHSSZ KPZJV\U[LK H[ [OL VYPNPUHS ,09 >OLU LZ[PTH[PUN [OL JHZO Ã…V^Z HU LU[P[` PZ YLX\PYLK [V JVUZPKLY!

‹

(SS JVU[YHJ[\HS [LYTZ VM [OL ÄUHUJPHS PUZ[Y\TLU[ PUJS\KPUN WYLWH`TLU[ L_[LUZPVU JHSS HUK ZPTPSHY VW[PVUZ V]LY [OL L_WLJ[LK SPML VM [OL ÄUHUJPHS PUZ[Y\TLU[ /V^L]LY PU YHYL JHZLZ ^OLU [OL L_WLJ[LK SPML VM [OL ÄUHUJPHS PUZ[Y\TLU[ JHUUV[ IL LZ[PTH[LK YLSPHIS` [OLU [OL LU[P[` PZ YLX\PYLK to use the remaining contractual term of the ÄUHUJPHS PUZ[Y\TLU[

‹

( Z H WYHJ[PJHS L_WLKPLU[ [OL *VTWHU` \ZLZ H provision matrix to determine impairment loss allowance on portfolio of its trade receivables. The provision matrix is based on its historically observed default rates over the expected life of the trade receivables and is adjusted for forward-looking LZ[PTH[LZ ([ L]LY` YLWVY[PUN KH[L [OL OPZ[VYPJHS observed default rates are updated and changes in the forward-looking estimates are analysed.

82

Loss. The balance sheet presentation for various ÄUHUJPHS PUZ[Y\TLU[Z PZ KLZJYPILK ILSV^!

‹

VY HZZLZZPUN PUJYLHZL PU JYLKP[ YPZR HUK PTWHPYTLU[ SVZZ [OL *VTWHU` JVTIPULZ ÄUHUJPHS PUZ[Y\TLU[Z VU [OL IHZPZ VM ZOHYLK credit risk characteristics with the objective of facilitating an analysis that is designed to enable ZPNUPÄJHU[ PUJYLHZLZ PU JYLKP[ YPZR [V IL PKLU[PÄLK on a timely basis.

; OL *VTWHU` KVLZ UV[ OH]L HU` W\YJOHZLK VY VYPNPUH[LK JYLKP[ PTWHPYLK 76*0 ÄUHUJPHS HZZL[Z P L ÄUHUJPHS HZZL[Z ^OPJO HYL JYLKP[ impaired on purchase/ origination.

HT MEDIA LIMITED

Financial liabilities Initial recognition and measurement PUHUJPHS SPHIPSP[PLZ HYL JSHZZPÄLK H[ PUP[PHS YLJVNUP[PVU HZ ÄUHUJPHS SPHIPSP[PLZ H[ MHPY ]HS\L [OYV\NO WYVÄ[ VY SVZZ SVHUZ HUK IVYYV^PUNZ WH`HISLZ VY HZ KLYP]H[P]LZ KLZPNUH[LK HZ OLKNPUN PUZ[Y\TLU[Z PU HU LMMLJ[P]L OLKNL HZ appropriate.

( SS ÄUHUJPHS SPHIPSP[PLZ HYL YLJVNUPZLK PUP[PHSS` H[ MHPY ]HS\L HUK PU [OL JHZL VM SVHUZ HUK IVYYV^PUNZ HUK WH`HISLZ UL[ VM KPYLJ[S` H[[YPI\[HISL transaction costs.

; OL *VTWHU`»Z ÄUHUJPHS SPHIPSP[PLZ PUJS\KL [YHKL HUK V[OLY WH`HISLZ SVHUZ HUK IVYYV^PUNZ PUJS\KPUN IHUR V]LYKYHM[Z HUK KLYP]H[P]L ÄUHUJPHS instruments.

*HZO Ã…V^Z MYVT [OL ZHSL VM JVSSH[LYHS OLSK VY other credit enhancements that are integral to the contractual terms

, *3 PTWHPYTLU[ SVZZ HSSV^HUJL VY YL]LYZHS recognized during the period is recognized as PUJVTL L_WLUZL PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ ;OPZ HTV\U[ PZ YLÃ…LJ[LK \UKLY [OL OLHK ºV[OLY L_WLUZLZ» PU [OL :[H[LTLU[ VM 7YVÄ[ HUK

-PUHUJPHS HZZL[Z TLHZ\YLK HZ H[ HTVY[PaLK JVZ[ JVU[YHJ[\HS YL]LU\L YLJLP]HISLZ HUK SLHZL YLJLP]HISLZ! ,*3 PZ WYLZLU[LK HZ HU HSSV^HUJL P L HZ HU PU[LNYHS WHY[ VM the measurement of those assets in the balance sheet. The allowance reduces the UL[ JHYY`PUN HTV\U[ <U[PS [OL HZZL[ TLL[Z ^YP[L VMM JYP[LYPH [OL *VTWHU` KVLZ UV[ reduce impairment allowance from the gross carrying amount.

Subsequent measurement ; OL TLHZ\YLTLU[ VM ÄUHUJPHS SPHIPSP[PLZ KLWLUKZ VU [OLPY JSHZZPÄJH[PVU HZ KLZJYPILK ILSV^!

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

Embedded derivatives An embedded derivative is a component of a O`IYPK JVTIPULK PUZ[Y\TLU[ [OH[ HSZV PUJS\KLZ a non-derivative host contract - with the effect [OH[ ZVTL VM [OL JHZO ÅV^Z VM [OL JVTIPULK instrument vary in a way similar to a stand-alone derivative. An embedded derivative causes some VY HSS VM [OL JHZO ÅV^Z [OH[ V[OLY^PZL ^V\SK IL YLX\PYLK I` [OL JVU[YHJ[ [V IL TVKPÄLK HJJVYKPUN [V H ZWLJPÄLK PU[LYLZ[ YH[L ÄUHUJPHS PUZ[Y\TLU[ WYPJL JVTTVKP[` WYPJL MVYLPNU L_JOHUNL YH[L PUKL_ VM WYPJLZ VY YH[LZ JYLKP[ YH[PUN VY JYLKP[ PUKL_ VY V[OLY ]HYPHISL WYV]PKLK PU [OL JHZL VM H UVU ÄUHUJPHS ]HYPHISL [OH[ [OL ]HYPHISL PZ UV[ ZWLJPÄJ [V H WHY[` [V [OL JVU[YHJ[ 9LHZZLZZTLU[ only occurs if there is either a change in the terms VM [OL JVU[YHJ[ [OH[ ZPNUPÄJHU[S` TVKPÄLZ [OL JHZO ÅV^Z [OH[ ^V\SK V[OLY^PZL IL YLX\PYLK VY H YLJSHZZPÄJH[PVU VM H ÄUHUJPHS HZZL[ V\[ VM [OL MHPY ]HS\L [OYV\NO WYVÄ[ HUK SVZZ

Financial liabilities at fair value through profit or loss PUHUJPHS SPHIPSP[PLZ H[ MHPY ]HS\L [OYV\NO WYVÄ[ VY SVZZ PUJS\KL ÄUHUJPHS SPHIPSP[PLZ KLZPNUH[LK \WVU PUP[PHS YLJVNUP[PVU HZ H[ MHPY ]HS\L [OYV\NO WYVÄ[ VY SVZZ ;OPZ JH[LNVY` PUJS\KLZ KLYP]H[P]L ÄUHUJPHS PUZ[Y\TLU[Z LU[LYLK PU[V I` [OL *VTWHU` [OH[ are not designated as hedging instruments in OLKNL YLSH[PVUZOPWZ HZ KLÄULK I` 0UK (: PUHUJPHS SPHIPSP[PLZ KLZPNUH[LK \WVU PUP[PHS YLJVNUP[PVU H[ MHPY ]HS\L [OYV\NO WYVÄ[ HUK SVZZ are designated as such at the initial date of YLJVNUP[PVU HUK VUS` PM [OL JYP[LYPH PU 0UK (: HYL ZH[PZÄLK -VY SPHIPSP[PLZ KLZPNUH[LK HZ -=;73 fair value gains/ losses attributable to changes PU V^U JYLKP[ YPZR HYL YLJVNUPaLK PU 6*0 ;OLZL NHPUZ SVZZ HYL UV[ Z\IZLX\LU[S` [YHUZMLYYLK [V :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ /V^L]LY [OL *VTWHU` TH` [YHUZMLY [OL J\T\SH[P]L NHPU VY SVZZ ^P[OPU LX\P[` (SS V[OLY JOHUNLZ PU MHPY ]HS\L of such liability are recognised in the Statement VM 7YVÄ[ HUK 3VZZ

If the hybrid contract contains a host that is a ÄUHUJPHS HZZL[ ^P[OPU [OL ZJVWL VM 0UK (: [OL *VTWHU` KVLZ UV[ ZLWHYH[L LTILKKLK KLYP]H[P]LZ 9H[OLY P[ HWWSPLZ [OL JSHZZPÄJH[PVU YLX\PYLTLU[Z JVU[HPULK PU 0UK (: [V [OL LU[PYL O`IYPK JVU[YHJ[ +LYP]H[P]LZ LTILKKLK in all other host contracts are accounted for as separate derivatives and recorded at fair value if their economic characteristics and risks are not closely related to those of the host contracts and the host contracts are not held for trading VY KLZPNUH[LK H[ MHPY ]HS\L [OV\NO WYVÄ[ HUK SVZZ These embedded derivatives are measured at fair value with changes in fair value recognised PU WYVÄ[ HUK SVZZ \USLZZ KLZPNUH[LK HZ LMMLJ[P]L hedging instruments.

Loans and borrowings ( M[LY PUP[PHS YLJVNUP[PVU PU[LYLZ[ ILHYPUN SVHUZ HUK IVYYV^PUNZ HYL Z\IZLX\LU[S` TLHZ\YLK H[ HTVY[PaLK JVZ[ \ZPUN [OL ,S9 TL[OVK .HPUZ HUK SVZZLZ HYL YLJVNUPZLK PU WYVÄ[ HUK SVZZ ^OLU [OL liabilities are derecognised as well as through the ,09 HTVY[PZH[PVU WYVJLZZ Amortized cost is calculated by taking into HJJV\U[ HU` KPZJV\U[ VY WYLTP\T VU HJX\PZP[PVU and fees or costs that are an integral part of the ,09 ;OL ,S9 HTVY[PZH[PVU PZ PUJS\KLK HZ ÄUHUJL JVZ[Z PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ This category generally applies to borrowings. -VY TVYL PUMVYTH[PVU YLMLY 5V[L

De-recognition ( ÄUHUJPHS SPHIPSP[` PZ KLYLJVNUPZLK ^OLU [OL obligation under the liability is discharged or JHUJLSSLK VY L_WPYLZ >OLU HU L_PZ[PUN ÄUHUJPHS liability is replaced by another from the same SLUKLY VU Z\IZ[HU[PHSS` KPMMLYLU[ [LYTZ VY [OL terms of an existing liability are substantially TVKPÄLK Z\JO HU L_JOHUNL VY TVKPÄJH[PVU is treated as the de-recognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is YLJVNUPZLK PU [OL:[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

r)

Offsetting of financial instruments PUHUJPHS HZZL[Z HUK ÄUHUJPHS SPHIPSP[PLZ HYL VMMZL[ and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an PU[LU[PVU [V ZL[[SL VU H UL[ IHZPZ [V YLHSPZL [OL assets and settle the liabilities simultaneously. Derivative financial Instruments Initial recognition and subsequent measurement * VTWHU` \ZLZ KLYP]H[P]L ÄUHUJPHS PUZ[Y\TLU[Z Z\JO HZ MVY^HYK J\YYLUJ` JVU[YHJ[Z JHSS ZWYLHK VW[PVUZ JV\WVU VUS` Z^HWZ HUK PU[LYLZ[ YH[L swaps to hedge its foreign currency risks and

ANNUAL REPORT 2016-17

83

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 PU[LYLZ[ YH[L YPZRZ YLZWLJ[P]LS` :\JO KLYP]H[P]L ÄUHUJPHS PUZ[Y\TLU[Z HYL PUP[PHSS` YLJVNUPZLK at fair value on the date on which a derivative JVU[YHJ[ PZ LU[LYLK PU[V HUK HYL Z\IZLX\LU[S` YL TLHZ\YLK H[ MHPY ]HS\L +LYP]H[P]LZ HYL JHYYPLK HZ ÄUHUJPHS HZZL[Z ^OLU [OL MHPY ]HS\L PZ WVZP[P]L HUK HZ ÄUHUJPHS SPHIPSP[PLZ ^OLU [OL MHPY ]HS\L PZ negative.

; OL W\YJOHZL JVU[YHJ[Z [OH[ TLL[ [OL KLÄUP[PVU VM H KLYP]H[P]L \UKLY 0UK (: HYL YLJVNUPZLK PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ

; OL W\YJOHZL JVU[YHJ[Z [OH[ TLL[ [OL KLÄUP[PVU VM H KLYP]H[P]L \UKLY 0UK (: HYL YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ Any gain or losses arising from changes in the MHPY ]HS\L VM KLYP]H[P]LZ HYL [HRLU KPYLJ[S` [V WYVÄ[ and loss.

s)

Cash dividend and non- cash distribution to equity holders of the parent Company ; OL *VTWHU` YLJVNUPZLZ H SPHIPSP[` [V THRL JHZO VY UVU JHZO KPZ[YPI\[PVUZ [V LX\P[` OVSKLYZ VM [OL WHYLU[ *VTWHU` ^OLU [OL KPZ[YPI\[PVU PZ authorised and the distribution is no longer at the KPZJYL[PVU VM [OL *VTWHU` (Z WLY [OL JVYWVYH[L SH^Z PU 0UKPH H KPZ[YPI\[PVU PZ H\[OVYPZLK ^OLU P[ PZ approved by the shareholders. A corresponding HTV\U[ PZ YLJVNUPZLK KPYLJ[S` PU LX\P[` Non-cash distributions are measured at the fair value of the assets to be distributed with fair value YL TLHZ\YLTLU[ YLJVNUPZLK KPYLJ[S` PU LX\P[`

t)

< WVU KPZ[YPI\[PVU VM UVU JHZO HZZL[Z HU` difference between the carrying amount of the liability and the carrying amount of the assets distributed is recognised in the statement of WYVÄ[ HUK SVZZ Cash and cash equivalents * HZO HUK JHZO LX\P]HSLU[ PU [OL IHSHUJL ZOLL[ comprise cash at banks and on hand and short-term deposits with an original maturity of [OYLL TVU[OZ VY SLZZ ^OPJO HYL Z\IQLJ[ [V HU PUZPNUPÄJHU[ YPZR VM JOHUNLZ PU ]HS\L

VY [OL W\YWVZL VM Z[H[LTLU[ VM JHZO Ã…V^ JHZO JHZO LX\P]HSLU[Z JVUZPZ[ VM JHZO HUK ZOVY[ [LYT

84

HT MEDIA LIMITED

KLWVZP[Z HZ KLÄULK HIV]L UL[ VM V\[Z[HUKPUN bank overdrafts as they are considered as PU[LNYHS WHY[ VM *VTWHU`»Z JHZO THUHNLTLU[

u)

Measurement of EBITDA ; OL *VTWHU` OHZ LSLJ[LK [V WYLZLU[ LHYUPUNZ ILMVYL PU[LYLZ[ L_WLUZL [H_ KLWYLJPH[PVU HUK HTVY[PaH[PVU ,)0;+( HZ H ZLWHYH[L SPUL P[LT VU [OL MHJL VM [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ ;OL *VTWHU` TLHZ\YLZ ,)0;+( MYVT JVU[PU\PUN VWLYH[PVUZ VU [OL MHJL VM :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ 0U [OL TLHZ\YLTLU[ [OL *VTWHU` does not include depreciation and amortization L_WLUZL ÄUHUJL JVZ[Z HUK [H_ L_WLUZL

v)

Investments in subsidiaries, joint ventures and associates ( U PU]LZ[VY YLNHYKSLZZ VM [OL UH[\YL VM P[Z PU]VS]LTLU[ ^P[O HU LU[P[` [OL PU]LZ[LL ZOHSS KL[LYTPUL ^OL[OLY P[ PZ H WHYLU[ *VTWHU` I` assessing whether it controls the investee.

An investor controls an investee when it is L_WVZLK VY OHZ YPNO[Z [V ]HYPHISL YL[\YUZ MYVT its involvement with the investee and has the ability to affect those returns through its power over the investee.

; O\Z HU PU]LZ[VY JVU[YVSZ HU PU]LZ[LL PM HUK VUS` if the investor has all the following:

H WV^LY V]LY [OL PU]LZ[LL"

I L_WVZ\YL VY YPNO[Z [V ]HYPHISL YL[\YUZ MYVT its involvement with the investee and

J [OL HIPSP[` [V \ZL P[Z WV^LY V]LY [OL PU]LZ[LL [V HMMLJ[ [OL HTV\U[ VM [OL PU]LZ[VY»Z YL[\YUZ

( U HZZVJPH[L PZ HU LU[P[` V]LY ^OPJO [OL *VTWHU` OHZ ZPNUPÄJHU[ PUÅ\LUJL :PNUPÄJHU[ PUÅ\LUJL PZ [OL WV^LY [V WHY[PJPWH[L PU [OL ÄUHUJPHS HUK VWLYH[PUN WVSPJ` KLJPZPVUZ VM [OL PU]LZ[LL I\[ PZ not control or joint control over those policies. The considerations made in determining ZPNUPÄJHU[ PUÅ\LUJL HYL ZPTPSHY [V [OVZL necessary to determine control over subsidiaries. ;OL *VTWHU` OHZ LSLJ[LK [V YLJVNUPaL P[Z investments in subsidiary and associate companies

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

at cost in accordance with the option available in 0UK (: º:LWHYH[L -PUHUJPHS :[H[LTLU[Z» ,_JLW[ where investments accounted for at cost shall be HJJV\U[LK MVY PU HJJVYKHUJL ^P[O 0UK (: 5VU J\YYLU[ (ZZL[Z /LSK MVY :HSL HUK +PZJVU[PU\LK 6WLYH[PVUZ ^OLU [OL` HYL JSHZZPÄLK HZ OLSK MVY ZHSL

HJJVTWHU`PUN KPZJSVZ\YLZ HUK [OL KPZJSVZ\YL VM JVU[PUNLU[ SPHIPSP[PLZ <UJLY[HPU[` HIV\[ these assumptions and estimates could result PU V\[JVTLZ [OH[ YLX\PYL H TH[LYPHS HKQ\Z[TLU[ to the carrying amount of assets or liabilities affected in future periods

Investment carried at cost will be tested for PTWHPYTLU[ HZ WLY 0UK (:

The areas involving critical estimates or judgement are as below:

0 U]LZ[TLU[ PU 1VPU[ ]LU[\YL ZOHSS IL YLJVNUPaLK H[ -=;6*0 HSS MHPY ]HS\L JOHUNLZ VU [OL PUZ[Y\TLU[ L_JS\KPUN KP]PKLUKZ HYL YLJVNUPaLK PU [OL 6*0 ;OLYL PZ UV YLJ`JSPUN VM [OL HTV\U[Z MYVT 6*0 [V :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ L]LU VU ZHSL VM PU]LZ[TLU[ /V^L]LY [OL *VTWHU` TH` [YHUZMLY [OL J\T\SH[P]L NHPU VY SVZZ ^P[OPU LX\P[`

w)

Earnings per Share Basic earnings per share Basic earnings per share are calculated by dividing:

[OL WYVÄ[ H[[YPI\[HISL [V V^ULYZ VM [OL *VTWHU`

I` [OL ^LPNO[LK H]LYHNL U\TILY VM LX\P[` ZOHYLZ V\[Z[HUKPUN K\YPUN [OL ÄUHUJPHS `LHY HKQ\Z[LK MVY IVU\Z LSLTLU[Z PU LX\P[` ZOHYLZ PZZ\LK K\YPUN the year and excluding treasury shares.

Diluted earnings per share + PS\[LK LHYUPUNZ WLY ZOHYL HKQ\Z[ [OL ÄN\YLZ used in the determination of basic earnings per share to take into account: - the after income tax effect of interest and V[OLY ÄUHUJPUN JVZ[Z HZZVJPH[LK ^P[O KPS\[P]L WV[LU[PHS LX\P[` ZOHYLZ HUK - the weighted average number of additional LX\P[` ZOHYLZ [OH[ ^V\SK OH]L ILLU V\[Z[HUKPUN assuming the conversion of all dilutive potential LX\P[` ZOHYLZ

2.3. Significant accounting judgements, estimates and assumptions

; OL WYLWHYH[PVU VM [OL *VTWHU`»Z ÄUHUJPHS Z[H[LTLU[Z YLX\PYLZ THUHNLTLU[ [V THRL Q\KNLTLU[Z LZ[PTH[LZ HUK HZZ\TW[PVUZ [OH[ HMMLJ[ [OL YLWVY[LK HTV\U[Z VM YL]LU\LZ L_WLUZLZ HZZL[Z HUK SPHIPSP[PLZ HUK [OL

Assessment of lease contracts : PNUPÄJHU[ Q\KNLTLU[ PZ YLX\PYLK [V HWWS` SLHZL HJJV\U[PUN Y\SLZ \UKLY (WWLUKP_ * [V 0UK (: ! KL[LYTPUPUN ^OL[OLY HU (YYHUNLTLU[ contains a Lease. In assessing the applicability [V HYYHUNLTLU[Z LU[LYLK PU[V I` [OL *VTWHU` management has exercised judgement to L]HS\H[L [OL YPNO[ [V \ZL [OL \UKLYS`PUN HZZL[Z substance of the transaction including legally LUMVYJLK HYYHUNLTLU[Z HUK V[OLY ZPNUPÄJHU[ terms and conditions of the arrangement to conclude whether the arrangements meet the JYP[LYPH \UKLY (WWLUKP_ * [V 0UK (: Contingent Liability and commitments ; OL *VTWHU` PZ PU]VS]LK PU ]HYPV\Z SP[PNH[PVUZ ;OL THUHNLTLU[ VM [OL *VTWHU` OHZ \ZLK its judgement while determining the litigations outcome of which are considered probable and in respect of which provision needs to be created. Taxes < UJLY[HPU[PLZ L_PZ[ ^P[O YLZWLJ[ [V [OL PU[LYWYL[H[PVU VM JVTWSL_ [H_ YLN\SH[PVUZ JOHUNLZ PU [H_ SH^Z HUK [OL HTV\U[ HUK [PTPUN VM M\[\YL [H_HISL PUJVTL .P]LU [OL ^PKL YHUNL VM I\ZPULZZ relationships and the long-term nature and JVTWSL_P[` VM L_PZ[PUN JVU[YHJ[\HS HNYLLTLU[Z differences arising between the actual results HUK [OL HZZ\TW[PVUZ THKL VY M\[\YL JOHUNLZ [V Z\JO HZZ\TW[PVUZ JV\SK ULJLZZP[H[L M\[\YL adjustments to tax income and expense already YLJVYKLK ;OL *VTWHU` LZ[HISPZOLZ WYV]PZPVUZ based on reasonable estimates. The amount of Z\JO WYV]PZPVUZ PZ IHZLK VU ]HYPV\Z MHJ[VYZ Z\JO as experience of previous tax assessments and differing interpretations of tax regulations by the taxable entity and the responsible tax authority. Such differences of interpretation may arise on a wide variety of issues depending on the conditions prevailing in the respective domicile VM [OL *VTWHUPLZ

ANNUAL REPORT 2016-17

85

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

+LMLYYLK [H_ HZZL[Z HYL YLJVNUPZLK MVY \U\ZLK [H_ losses to the extent that it is probable that taxable WYVÄ[ ^PSS IL H]HPSHISL HNHPUZ[ ^OPJO [OL SVZZLZ JHU IL \[PSPZLK :PNUPÄJHU[ THUHNLTLU[ Q\KNLTLU[ PZ YLX\PYLK [V KL[LYTPUL [OL HTV\U[ VM KLMLYYLK [H_ HZZL[Z [OH[ JHU IL YLJVNUPZLK IHZLK \WVU [OL SPRLS` [PTPUN HUK [OL SL]LS VM M\[\YL [H_HISL WYVÄ[Z together with future tax planning strategies. Defined benefit plans ; OL JVZ[ VM [OL KLÄULK ILULÄ[ NYH[\P[` WSHU HUK V[OLY WVZ[ LTWSV`TLU[ TLKPJHS ILULÄ[Z HUK the present value of the gratuity obligation are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount YH[L M\[\YL ZHSHY` PUJYLHZLZ HUK TVY[HSP[` YH[LZ +\L to the complexities involved in the valuation and P[Z SVUN [LYT UH[\YL H KLÄULK ILULÄ[ VISPNH[PVU PZ highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

The parameter most subject to change is the discount rate. In determining the appropriate KPZJV\U[ YH[L MVY WSHUZ VWLYH[LK PU 0UKPH [OL management considers the interest rates of government bonds in currencies consistent with the currencies of the post-employment ILULÄ[ VISPNH[PVU The mortality rate is based on publicly available TVY[HSP[` [HISLZ MVY [OL ZWLJPÄJ JV\U[YPLZ ;OVZL mortality tables tend to change only at interval in YLZWVUZL [V KLTVNYHWOPJ JOHUNLZ -\[\YL ZHSHY` increases and gratuity increases are based on L_WLJ[LK M\[\YL PUÅH[PVU YH[LZ MVY [OL YLZWLJ[P]L countries.

86

HT MEDIA LIMITED

\Y[OLY KL[HPSZ HIV\[ NYH[\P[` VISPNH[PVUZ HYL given in Note 33. Fair value measurement of financial instruments > OLU [OL MHPY ]HS\LZ VM ÄUHUJPHS HZZL[Z HUK ÄUHUJPHS SPHIPSP[PLZ YLJVYKLK PU [OL IHSHUJL ZOLL[ JHUUV[ IL TLHZ\YLK IHZLK VU X\V[LK WYPJLZ PU HJ[P]L THYRL[Z [OLPY MHPY ]HS\L PZ TLHZ\YLK \ZPUN ]HS\H[PVU [LJOUPX\LZ PUJS\KPUN [OL +*- TVKLS The inputs to these models are taken from VIZLY]HISL THYRL[Z ^OLYL WVZZPISL I\[ ^OLYL [OPZ PZ UV[ MLHZPISL H KLNYLL VM Q\KNLTLU[ PZ YLX\PYLK PU LZ[HISPZOPUN MHPY ]HS\LZ 1\KNLTLU[Z include considerations of inputs such as SPX\PKP[` YPZR JYLKP[ YPZR HUK ]VSH[PSP[` *OHUNLZ PU assumptions about these factors could affect the YLWVY[LK MHPY ]HS\L VM ÄUHUJPHS PUZ[Y\TLU[Z :LL 5V[L MVY M\Y[OLY KPZJSVZ\YLZ Impairment of financial assets ; OL PTWHPYTLU[ WYV]PZPVUZ MVY ÄUHUJPHS HZZL[Z are based on assumptions about risk of default HUK L_WLJ[LK SVZZ YH[LZ ;OL *VTWHU` \ZLZ judgement in making these assumptions and ZLSLJ[PUN [OL PUW\[Z [V [OL PTWHPYTLU[ JHSJ\SH[PVU IHZLK VU *VTWHU`»Z WHZ[ OPZ[VY` L_PZ[PUN market conditions as well as forward looking estimates at the end of each reporting period. Impairment of non- financial assets ; OL *VTWHU` HZZLZZLZ H[ LHJO YLWVY[PUN KH[L whether there is an indication that an asset TH` IL PTWHPYLK 0M HU` PUKPJH[PVU L_PZ[Z VY when annual impairment testing for an asset is YLX\PYLK [OL *VTWHU` LZ[PTH[LZ [OL HZZL[»Z YLJV]LYHISL HTV\U[ (U HZZL[»Z YLJV]LYHISL HTV\U[ PZ [OL OPNOLY VM HU HZZL[»Z VY *.<»Z MHPY value less costs of disposal and its value in use. 0[ PZ KL[LYTPULK MVY HU PUKP]PK\HS HZZL[ \USLZZ

A

01-15

About HT Media

16-58

B

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 [OL HZZL[ KVLZ UV[ NLULYH[L JHZO PUÅV^Z [OH[ HYL largely independent of those from other assets or group of assets. Where the carrying amount of an HZZL[ VY *.< L_JLLKZ P[Z YLJV]LYHISL HTV\U[ the asset is considered impaired and is written down to its recoverable amount. In assessing ]HS\L PU \ZL [OL LZ[PTH[LK M\[\YL JHZO ÅV^Z HYL discounted to their present value using a pre[H_ KPZJV\U[ YH[L [OH[ YLÅLJ[Z J\YYLU[ THYRL[ assessments of the time value of money and [OL YPZRZ ZWLJPÄJ [V [OL HZZL[ 0U KL[LYTPUPUN MHPY ]HS\L SLZZ JVZ[Z VM KPZWVZHS YLJLU[ THYRL[Z transactions are taken into account. If no such [YHUZHJ[PVUZ JHU IL PKLU[PÄLK HU HWWYVWYPH[L valuation model is used. These calculations are JVYYVIVYH[LK I` ]HS\H[PVU T\S[PWSLZ X\V[LK share prices for publicly traded subsidiaries or other available fair value indicators.

Share Based Payment ; OL *VTWHU` TLHZ\YLZ [OL JVZ[ VM LX\P[` settled transactions with employees by reference [V [OL MHPY ]HS\L VM [OL LX\P[` PUZ[Y\TLU[Z H[ [OL KH[L H[ ^OPJO [OL` HYL NYHU[LK ,Z[PTH[PUN MHPY value for share-based payment transactions YLX\PYLZ KL[LYTPUH[PVU VM [OL TVZ[ HWWYVWYPH[L ]HS\H[PVU TVKLS ^OPJO PZ KLWLUKLU[ VU [OL [LYTZ and conditions of the grant. This estimate also YLX\PYLZ KL[LYTPUH[PVU VM [OL TVZ[ HWWYVWYPH[L inputs to the valuation model including the L_WLJ[LK SPML VM [OL ZOHYL VW[PVU ]VSH[PSP[` HUK dividend yield and making assumptions about them. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in Note 34.

Volume discounts and pricing incentives ; OL *VTWHU` HJJV\U[Z MVY ]VS\TL KPZJV\U[Z HUK pricing incentives to customers as a reduction of revenue based on the rateable allocation of the discounts/ incentives amount to each of the underlying revenue transaction that results in progress by the customer towards earning [OL KPZJV\U[ PUJLU[P]L (SZV ^OLU [OL SL]LS VM discount varies with increases in levels of revenue [YHUZHJ[PVUZ [OL *VTWHU` YLJVNUPaLZ [OL SPHIPSP[` IHZLK VU P[Z LZ[PTH[L VM [OL J\Z[VTLY»Z M\[\YL purchases. If it is probable that the criteria for the KPZJV\U[ ^PSS UV[ IL TL[ VY PM [OL HTV\U[ [OLYLVM JHUUV[ IL LZ[PTH[LK YLSPHIS` [OLU KPZJV\U[ PZ UV[ recognized until the payment is probable and the HTV\U[ JHU IL LZ[PTH[LK YLSPHIS` ;OL *VTWHU` recognizes changes in the estimated amount of obligations for discounts in the period in which the change occurs. Property, Plant and Equipment ; OL *VTWHU` IHZLK VU [LJOUPJHS HZZLZZTLU[ HUK THUHNLTLU[ LZ[PTH[L KLWYLJPH[LZ JLY[HPU assets and over estimated useful lives which are different from the useful life prescribed in :JOLK\SL 00 [V [OL *VTWHUPLZ (J[ ;OL THUHNLTLU[ OHZ LZ[PTH[LK Z\WWVY[LK I` [LJOUPJHS HZZLZZTLU[ [OL \ZLM\S SP]LZ VM JLY[HPU WSHU[ HUK THJOPULY` HZ [V `LHYZ ;OLZL useful lives are higher than those indicated in Schedule II. The management believes that these LZ[PTH[LK \ZLM\S SP]LZ HYL YLHSPZ[PJ HUK YLÅLJ[ MHPY approximation of the period over which the assets are likely to be used.

ANNUAL REPORT 2016-17

87

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 3.

PROPERTY, PLANT AND EQUIPMENT AND CAPITAL WORK-IN-PROGRESS

Particulars

Leasehold Buildings Land

6MÄJL Furniture Vehicles Improvement Plant and and to Leasehold Machinery Equipments Fixtures (Refer Premises (Refer Note ii) Note iv, v)

(` in Lacs) Total

Cost Deemed cost as at April 1, 2015 Additions +PZWVZHSZ (KQ\Z[TLU[Z ,_JOHUNL KPMMLYLUJLZ B*HWP[HSPaLK +L *HWP[HSPaLK D As at March 31, 2016 Additions +PZWVZHSZ (KQ\Z[TLU[Z Transfer of Assets of +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L ,_JOHUNL KPMMLYLUJLZ B*HWP[HSPaLK +L *HWP[HSPaLK D As at March 31, 2017 Depreciation/ Impairment As at April 1, 2015 *OHYNL MVY [OL `LHY +PZWVZHSZ As at March 31, 2016 *OHYNL MVY [OL `LHY +PZWVZHSZ Impairment 9LMLY 5V[L P] ILSV^ Transfer of Assets of +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L As at March 31, 2017 Net Block As at March 31, 2017 As at March 31, 2016 As at April 1, 2015

1,574.62 -

6,867.91 -

1,328.81 37,661.52

491.97 -

498.65 238.32 48,661.80

1,799.38 -

6,887.70 -

3,113.58 39,963.49

838.10

880.11 -

-

-

-

-

-

1,799.38

6,887.70

3,662.60

40,234.09

1,229.23

955.59

423.74

55,192.33

-

-

32.39 -

304.05 -

498.87 -

5,082.15

217.87 -

168.32 -

49.74 -

6,353.39

-

-

-

-

-

-

67.80

606.61

1,076.62

10,072.42

487.60

322.76

105.35

12,739.17

1,731.58 1,766.99 1,574.62

6,281.09 6,583.65 6,867.91

2,585.97 2,614.71 1,328.81

30,161.67 34,881.34 37,661.52

741.63 620.23 491.97

632.83 711.79 498.65

318.39 368.49 238.32

42,453.16 47,547.20 48,661.80

418.23 53,900.58

i.

Asset under construction

*HWP[HS ^VYR PU WYVNYLZZ HZ H[ 4HYJO JVTWYPZLZ L_WLUKP[\YL THPUS` MVY [OL )\PSKPUN PU [OL JV\YZL VM JVUZ[Y\J[PVU ;V[HS HTV\U[ VM *>07 PZ ` SHJZ 4HYJO ! ` 3HJZ (WYPS ! ` 3HJZ ` PU 3HJZ Net Book Value

88

March 31, 2017

March 31, 2016

April 1, 2015

7YVWLY[` 7SHU[ ,X\PWTLU[ *HWP[HS >VYR PU WYVNYLZZ

Total

45,705.65

50,034.17

51,702.69

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ii.

Certain Improvements to Leasehold Premises are held under joint ownership with others: ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

-

21.33

52.21

118.74 -

.YVZZ )SVJR Accumulated depreciation Net block +LWYLJPH[PVU MVY [OL `LHY

iii.

Refer Note 14A for charge created on property, plant & equipment as security against borrowings.

iv.

Certain assets have been impaired based on difference of fair value less costs of disposal and value in use. Additional information for which impairment loss has been recognied are as under:

5H[\YL VM HZZL[ ! 7SHU[ HUK 4HJOPULY`

(TV\U[ VM 0TWHPYTLU[ ! ` SHJZ

9LHZVU VM 0TWHPYTLU[ ! *OHUNL PU :WLJPÄJH[PVU VM 5L^ZWHWLY

9LJV]LYHISL (TV\U[ ! 5VTPUHS (ZZ\TLK

v.

Plant & Machinery having a gross value of ` SHJZ 4HYJO ! ` SHJZ HUK (WYPS ! ` SHJZ [V^HYKZ *VTWHU`»Z WYVWVY[PVUH[L ZOHYL MVY YPNO[ [V \ZL PU [OL *VTTVU 0UMYHZ[Y\J[\YL MVY JOHUULS [YHUZTPZZPVU MVY P[Z MV\Y Z[H[PVUZ I\PS[ VU SHUK V^ULK I` 7YHZHY )OHY[P HUK \ZLK I` HSS [OL IYVHKJHZ[LYZ H[ YLZWLJ[P]L Z[H[PVUZ HZ WLY [OL [LYTZ VM IPK KVJ\TLU[ VU -4 9HKPV )YVHKJHZ[PUN 7OHZL 00

vi.

Ind-AS 101 Exemption : ;OL *VTWHU` OHZ H]HPSLK [OL L_LTW[PVU H]HPSHISL \UKLY 0UK (: ^OLYLHZ [OL JHYY`PUN ]HS\L VM WYVWLY[` WSHU[ HUK LX\PWTLU[ OHZ ILLU JHYYPLK MVY^HYKLK H[ [OL HTV\U[ HZ KL[LYTPULK \UKLY [OL .((7 UL[ VMM 0UK (: HKQ\Z[TLU[ Z\JO HZ KLYP]H[P]L JVU[YHJ[Z YLJVNUPaLK H[ 4;4 HUK NV]LYUTLU[ NYHU[Z 9LNHYKPUN HWWSPJH[PVU VM KLLTLK JVZ[ [OL *VTWHU` OHZ KPZJSVZLK [OL JVZ[ HZ H[ (WYPS UL[ VM HJJ\T\SH[LK KLWYLJPH[PVU /V^L]LY PUMVYTH[PVU YLNHYKPUN NYVZZ ISVJR VM HZZL[Z HJJ\T\SH[LK KLWYLJPH[PVU OHZ ILLU KPZJSVZLK I` [OL *VTWHU` separately as follows : ` PU 3HJZ Gross Block As at April 1, 2015

Accumulated depreciation As at April 1, 2015

Net Block As at April 1, 2015

Leasehold Land Buildings Improvement to Leasehold Premises Plant and Machinery 6MÄJL ,X\PWTLU[Z -\YUP[\YL HUK -P_[\YLZ =LOPJSLZ

Total

92,633.82

43,972.02

48,661.80

Particulars

ANNUAL REPORT 2016-17

89

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 4.

INVESTMENT PROPERTY ` PU 3HJZ

Particulars

Amount

Opening balance at April 1, 2015 (KKP[PVUZ HJX\PZP[PVUZ (KKP[PVUZ Z\IZLX\LU[ L_WLUKP[\YL +PZWVZHSZ

24,796.58

Closing balance at March 31, 2016 (KKP[PVUZ HJX\PZP[PVUZ (KKP[PVUZ Z\IZLX\LU[ L_WLUKP[\YL +PZWVZHSZ

31,107.06

Closing balance at March 31, 2017 Depreciation and impairment Opening balance at April 1, 2015 +LWYLJPH[PVU 5V[L 0TWHPYTLU[ 5V[L 9L]LYZHS VM 0TWHPYTLU[ +LWYLJPH[PVU VU KPZWVZHSZ

34,936.48

Closing balance at March 31, 2016 +LWYLJPH[PVU 5V[L 0TWHPYTLU[ 5V[L

514.57

Closing balance at March 31, 2017 Net Block

1,367.57

As at March 31, 2017 As at March 31, 2016 As at April 1, 2015

33,568.91 30,592.49 24,796.58

VY 0U]LZ[TLU[ 7YVWLY[` L_PZ[PUN HZ VU (WYPS P L P[Z KH[L VM [YHUZP[PVU [V 0UK (: [OL JVTWHU` OHZ \ZLK 0UKPHU .((7 JHYY`PUN ]HS\L HZ KLLTLK JVZ[Z ` PU 3HJZ Gross Block As at April 1, 2015 Accumulated depreciation As at April 1, 2015

Net Block As at April 1, 2015

Information regarding income and expenditure of investment property ` PU 3HJZ Particulars 9LU[HS PUJVTL KLYP]LK MYVT PU]LZ[TLU[ WYVWLY[PLZ +PYLJ[ VWLYH[PUN L_WLUZLZ PUJS\KPUN YLWHPYZ HUK THPU[LUHUJL NLULYH[PUN YLU[HS PUJVTL +PYLJ[ VWLYH[PUN L_WLUZLZ PUJS\KPUN YLWHPYZ HUK THPU[LUHUJL [OH[ KPK UV[ NLULYH[L YLU[HS income Loss arising from investment properties before depreciation and indirect expenses 3LZZ ¶ +LWYLJPH[PVU Loss arising from investment properties before indirect expenses

March 31, 2017

March 31, 2016

31.41

(Z H[ 4HYJO 4HYJO HUK (WYPS [OL MHPY ]HS\LZ VM [OL WYVWLY[PLZ HYL ` SHJZ ` lacs and ` SHJZ YLZWLJ[P]LS` ;OLZL ]HS\H[PVUZ HYL IHZLK VU ]HS\H[PVUZ WLYMVYTLK I` HU HJJYLKP[LK PUKLWLUKLU[ valuer who are specialist in valuing these types of investment properties. A valuation model in accordance with Ind-AS 113 has been applied

90

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 (Z H[ 4HYJO 4HYJO HUK (WYPS [OL *VTWHU` OHZ UV YLZ[YPJ[PVUZ VU [OL YLHSPZHIPSP[` VM P[Z investment properties and there exists contractual obligations of ` 3HJZ 4HYJO ! ` 3HJZ HUK (WYPS ! ` 3HJZ [V W\YJOHZL [OL PU]LZ[TLU[ WYVWLY[` ^OLYLHZ [OLYL HYL UV JVU[YHJ[\HS VISPNH[PVU [V KL]LSVW investment property or for repairs and enhancements.

Estimation of Fair Value The valuation has been determined basis the market approach by reference to sales in the market of comparable properties. /V^L]LY ^OLYL Z\JO PUMVYTH[PVU PZ UV[ H]HPSHISL J\YYLU[ WYPJLZ PU HU HJ[P]L THYRL[ MVY WYVWLY[PLZ VM KPMMLYLU[ UH[\YL VY YLJLU[ WYPJLZ VM ZPTPSHY WYVWLY[PLZ PU SLZZ HJ[P]L THYRL[Z HKQ\Z[LK [V YLÃ…LJ[ [OVZL KPMMLYLUJLZ OHZ ILLU JVUZPKLYLK [V determine the valuation. All resulting fair value estimates for investment properties are included in Level II.

5.

INTANGIBLE ASSETS AND INTANGIBLE ASSETS UNDER DEVELOPMENT

Particulars

` PU 3HJZ Total

Website Development

Software Licenses

License Fees (Refer Note 47)

Software for Radio Business

262.38 -

1,390.28

1,378.29 -

20.25 -

3,051.20

283.17 -

3,522.54

26,818.10 -

27.26 -

30,651.07

-

-

-

283.17

4,720.34

43,879.88

51.53

48,934.92

-

-

-

-

-

-

As at March 31, 2016 *OHYNL MVY [OL `LHY *OHYNL MVY [OL `LHY HKQ\Z[LK through Securities Premium 9LMLY 5V[L +PZWVZHSZ ;YHUZMLY VM (ZZL[Z VM +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L 0TWHPYTLU[ *OHYNL JYLKP[

73.64 -

531.81 -

838.39

11.08 -

1,454.92

-

-

-

-

-

-

As at March 31, 2017 Net Block

143.37

1,324.86

3,694.35

25.53

5,188.11 -

As at March 31, 2017 As at March 31, 2016 As at April 1, 2015

139.80 209.53 262.38

3,395.49 2,990.73 1,390.28

40,185.53 25,979.71 1,378.29

26.00 16.18 20.25

43,746.82 29,196.15 3,051.20

Cost Deemed cost as at April 1, 2015 Additions +PZWVZHSZ (KQ\Z[TLU[Z ,_JOHUNL KPMMLYLUJLZ BJHWP[HSPZLK +L JHWP[HSPZLK D As at March 31, 2016 Additions +PZWVZHSZ (KQ\Z[TLU[Z Transfer of Assets of discontinued operations 9LMLY 5V[L ,_JOHUNL KPMMLYLUJLZ B*HWP[HSPaLK +L *HWP[HSPaLK D As at March 31, 2017 Depreciation As at April 1, 2015 *OHYNL MVY [OL `LHY *OHYNL MVY [OL `LHY HKQ\Z[LK through securities Premium 9LMLY 5V[L +PZWVZHSZ 0TWHPYTLU[ *OHYNL JYLKP[

ANNUAL REPORT 2016-17

91

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ` PU 3HJZ Net Book Value

March 31, 2017

March 31, 2016

April 1, 2015

Intangible Assets Intangible Assets under development

Total

43,807.30

30,036.28

3,583.33

Ind-AS 101 Exemption : ;OL *VTWHU` OHZ H]HPSLK [OL L_LTW[PVU H]HPSHISL \UKLY 0UK (: ^OLYLHZ [OL JHYY`PUN ]HS\L VM PU[HUNPISL HZZL[Z OHZ ILLU JHYYPLK MVY^HYKLK H[ [OL HTV\U[ HZ KL[LYTPULK \UKLY [OL 0UKPHU .((7 9LNHYKPUN HWWSPJH[PVU VM KLLTLK JVZ[ [OL *VTWHU` OHZ KPZJSVZLK [OL JVZ[ HZ H[ (WYPS UL[ VM HJJ\T\SH[LK KLWYLJPH[PVU /V^L]LY PUMVYTH[PVU YLNHYKPUN NYVZZ ISVJR VM HZZL[Z HJJ\T\SH[LK KLWYLJPH[PVU OHZ ILLU KPZJSVZLK I` [OL *VTWHU` ZLWHYH[LS` HZ MVSSV^Z! ` PU 3HJZ Gross Block as at April 1, 2015

Accumulated depreciation as at April 1, 2015

Net Block as at April 1, 2015

>LIZP[L +L]LSVWTLU[ Software Licenses 3PJLUZL -LLZ :VM[^HYL MVY 9HKPV )\ZPULZZ 4\ZPJ *VU[LU[Z

-

Total

16,992.83

13,941.63

3,051.20

Particulars

6A

INVESTMENT IN SUBSIDIARY ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

-

-

/; ,K\JH[PVU 3PTP[LK SHJZ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` shares of ` LHJO M\SS` WHPK \W

/; 3LHYUPUN *LU[YLZ 3[K SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` shares of ` LHJO M\SS` WHPK \W

Investment in Subsidiary (at cost) Quoted /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK /4=3 SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` shares of ` LHJO M\SS` WHPK \W Unquoted /; +PNP[HS 4LKPH /VSKPUNZ 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` shares of ` LHJO M\SS` WHPK \W /; 4\ZPJ HUK ,U[LY[HPUTLU[ *VTWHU` 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ VM ` 1 each fully paid up Ivy Talent India Private Limited 5PS 4HYJO ! 5PS (WYPS ! 3HJZ ,X\P[` :OHYLZ VM ` LHJO M\SS` WHPK

/; +PNP[HS 0UMVYTH[PVU 7YP]H[L 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W

92

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6A. INVESTMENT IN SUBSIDIARY (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

/; .SVIHS ,K\JH[PVU SHJZ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W

/; +PNP[HS 4LKPH /VSKPUNZ 3PTP[LK 5PS 4HYJO !5PS (WYPS ! SHJ ALYV *V\WVU *VTW\SZVYPS` *VU]LY[PISL +LILU[\YLZ VM ` LHJO M\SS` WHPK

-

-

;VWTV]PLZ ,U[LY[HPUTLU[ 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ of ` LHJO M\SS` WHPK \W

HT Mobile Solutions Ltd. SHJZ 4HYJO ! SHJ (WYPS ! 5PS VW[PVUHSS` convertible cumulative preference shares of ` LHJO M\SS` WHPK \W

-

/; +PNP[HS :[YLHTZ 3[K 9LMLY 5V[L SHJZ 4HYJO ! SHJ (WYPS !5PS LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W

-

-

-

36,116.28

23,330.23

19,786.27

-PYLÃ…` L =LU[\YLZ 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! SHJ optionally convertible cumulative preference shares of ` LHJO M\SS` paid up

;VWTV]PLZ ,U[LY[HPUTLU[ 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! SHJ VW[PVUHSS` convertible cumulative preference shares of ` LHJO M\SS` WHPK \W Share Application Money Pending allotment : /; 4\ZPJ HUK ,U[LY[HPUTLU[ *VTWHU` 3PTP[LK HT Overseas Pte. Limited /; +PNP[HS 4LKPH /VSKPUNZ 3PTP[LK Total (A) Provision for Impairment in value of investment (B) Total Investment in Subsidiary (A) - (B) Non - Current Current (NNYLNH[L IVVR ]HS\L VM X\V[LK PU]LZ[TLU[Z (NNYLNH[L THYRL[ ]HS\L VM X\V[LK PU]LZ[TLU[Z (NNYLNH[L IVVR ]HS\L VM \UX\V[LK PU]LZ[TLU[Z Aggregate amount of impairment in value of investments

Impairment of investments ;OL *VTWHU` OHZ YLJVNUPZLK HU PTWHPYTLU[ VM ` SHJZ 4HYJO ! ` SHJZ (WYPS ` SHJZ VU HIV]L PU]LZ[TLU[ ;OL PTWHPYTLU[ PZ YLJVNUPZLK PU :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

ANNUAL REPORT 2016-17

93

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

0UKPH ,K\JH[PVU :LY]PJLZ 7YP]H[L 3PTP[LK 9LMLY 5V[L SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` shares of ` LHJO M\SS` WHPK \W

Total Investment at Fair Value through other comprehensive income (A) (B) Investment at Fair Value through profit and loss (I) Investment in venture capital funds

479.00

4,607.00

3,514.50

-

(A) Investment at Fair Value through other comprehensive income (I) Investment in joint venture

Unquoted

Unquoted )S\TL =LU[\YLZ -\UK 0( SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK \W ;YPMLJ[H =LU[\YL +LI[ -\UK 0 SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO fully paid up ;HUKLT -\UK 000 337 7HYHNVU 7HY[ULYZ .YV^[O -\UK 0 SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` paid up

-

-

-

-

-

-

Press Trust of India

SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ of ` LHJO M\SS` WHPK \W <UP[LK 5L^Z VM 0UKPH SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ of ` LHJO M\SS` WHPK \W

9V\UK 6UL 5L[^VYR 7YP]H[L 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W

-

-

)* ;LJOUVSVNPLZ 7YP]H[L 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! 5PS LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W

-

-

;9(2 :LY]PJLZ 7YP]H[L 3PTP[LK 3HJ 4HYJO ! 3HJ (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W

-

-

-

World Phone Internet Services Private Limited 5PS 4HYJO ! 3HJ (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W

-

-

(II) Investment in equity instruments

Quoted 2VV]Z 73* SHJ 4HYJO ! 5PS (WYPS ! 5PS LX\P[` ZOHYLZ VM .)7 LHJO M\SS` WHPK \W Kwality Ltd. SHJ 4HYJO ! 5PS (WYPS ! 5PS LX\P[` ZOHYLZ VM ` LHJO fully paid up

Unquoted

94

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

-

9VZLI`Z 0U[LYPVYZ 0UKPH 3[K 5PS 4HYJO ! 5PS (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO fully paid up

-

-

-

Olive Telecomunication Pvt Ltd

-

-

-

-

-

Kinobeo Software Private Limited SHJ 4HYJO ! SHJ (WYPS ! 5PS **7: VM ` LHJO fully paid up

-

*VYHaH ;LJOUVSVNPLZ 7YP]H[L 3PTP[LK SHJ 4HYJO ! 5PS (WYPS ! 5PS :LYPLZ ) ***7: of ` LHJO M\SS` WHPK \W

-

-

-

Kwality Ltd. 4HYJO ! 5PS (WYPS ! 5PS M\SS` JVU]LY[PISL KLILU[\YLZ VM ` LHJO M\SS` WHPK

-

-

= 0U]LZ[TLU[ PU T\[\HS M\UKZ HUK Ä_LK TH[\YP[` WSHUZ Quoted 9LSPHUJL -P_LK /VYPaVU -\UK ??0= :LYPLZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

/+-* -47 + (WYPS :LYPLZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

/+-* -47 + (WYPS :LYPLZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

0*0*0 7Y\ -47 :LYPLZ +H`Z 7SHU : *\T\SH[P]L SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

:\UPS 4HU[YP 9LHS[` 3PTP[LK 5PS 4HYJO ! SHJ (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W Kinobeo Software Private Limited 4HYJO ! (WYPS ! 5PS LX\P[` ZOHYLZ VM ` LHJO M\SS` paid up

5PS 4HYJO ! 5PS (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO fully paid up 7YPRUP[ 9L[HPS 3[K 5PS 4HYJO ! 5PS (WYPS ! SHJ LX\P[` ZOHYLZ VM ` LHJO fully paid up (III) Investment in preference shares

Unquoted

(IV) Investment in debt instruments

Unquoted *`IPa )YPNO[Z[HY 9LZ[H\YHU[Z 7YP]H[L 3PTP[LK SHJ 4HYJO ! SHJ (WYPS ! 5PS *VU]LY[PISL debentures of ` LHJO M\SS` WHPK

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU + *\T\SH[P]L SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

ANNUAL REPORT 2016-17

95

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

/+-* -47 + 1HU\HY` :LYPLZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 1 *\T\SH[P]L SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

:)0 +LI[ -\UK :LYPLZ ( TVU[OZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

0*0*0 7Y\KLU[PHS +`UHTPJ )VUK -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

)PYSH :\U 3PML :OVY[ ;LYT -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

)PYSH :\U 3PML +`UHTPJ )VUK -\UK 9L[ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

+/-3 7YHTLYPJH :OVY[ 4H[\YP[` -\UK (UU\HS )VU\Z SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

)PYSH :\U 3PML 6W[PTPaLY -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

:)0 *VYWVYH[L )VUK -\UK .YV^[O SHJZ 4HYJO ! SHJZ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS )HURPUN HUK 7:< +LI[ -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL )HURPUN 7:< +LI[ -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

+:7 )SHJR9VJR :[YH[LNPJ )VUK -\UK 0UZ[P[\[PVUHS 7SHU .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK /+-* /PNO 0U[LYLZ[ -\UK +`UHTPJ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! \UP[Z VM ` LHJO M\SS` WHPK

0+-* :\WLY :H]LY 0UJVTL -\UK 4LKP\T ;LYT 7SHU .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK 0+-* +`UHTPJ )VUK M\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

:\UKHYHT :LSLJ[ +LI[ :OVY[ ;LYT (ZZL[ 7SHU .YV^[O SHJZ 4HYJO ! SHJZ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

96

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

0+-* *VYWVYH[L )VUK -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

(_PZ :OVY[ ;LYT -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

;(;( :OVY[ ;LYT )VUK -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

3 ; :OVY[ ;LYT 6WWVY[\UP[PLZ -\UK .YV^[O

-

<;0 +`UHTPJ )VUK -\UK .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL 0U[LY]HS -\UK 0= :LYPLZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

<;0 -P_LK 0UJVTL -\UK :LYPLZ ??00 ?000 +H`Z .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 0 *\T\SH[P]L SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 1 *\T\SH[P]L SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

:\UKHYHT -P_LK ;LYT 7SHU /0 .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

/+-* -47 + -LIY\HY` :LYPLZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

<;0 -P_LK ;LYT 0UVTJL -\UK :LYPLZ ??0= =0 +H`Z .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 5 *\T\SH[P]L SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ??? :LYPLZ .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

<;0 -P_LK ;LYT 0UVTJL -\UK :LYPLZ ??0= =000 +H`Z .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

:)0 +LI[ -\UK :LYPLZ ) +H`Z .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

ANNUAL REPORT 2016-17

97

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

<;0 -P_LK ;LYT 0UVTJL -\UK :LYPLZ ??0= =00 +H`Z .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

)PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ 53 +H`Z .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

:)0 +LI[ -\UK :LYPLZ ) +H`Z .YV^[O SHJ 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ???0 :LYPLZ .YV^[O

-

-

:\UKHYHT -P_LK ;LYT 7SHU /: .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

<;0 -;0- :LYPLZ ??= 0= .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

2V[HR -47 :LYPLZ .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ 7SHU 1 .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

<;0 -P_LK ;LYT 0UJVTL -\UK :LYPLZ ??= 00 .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

+/-3 7YHTLYPJH -P_LK +\YH[PVU M\UK :LYPLZ .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

)PYSH :\U 3PML -;7 :LYPLZ 59 .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS -P_LK 4H[\YP[` 7SHU :LYPLZ 7SHU 2 .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPHUJL Ä_LK /VYPaVU -\UK ???0 :LYPLZ .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS -P_LK 4H[\YP[` 7SHU :LYPLZ 7SHU 4 .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

+/-3 7YHTLYPJH -P_LK +\YH[PVU -\UK :LYPLZ .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPHUJL Ä_LK /VYPaVU -\UK ???0 :LYPLZ .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

98

HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

;(;( +`UHTPJ )VUK -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS 0UJVTL 6WWVY[\UP[PLZ -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

+/-3 7YHTLYPJH 7YLTPLY )VUK -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

/+-* )HURPUN HUK 7:< +LI[ -\UK .YV^[O

-

-

2V[HR )VUK :OVY[ ;LYT 7SHU .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

/+-* :OVY[ ;LYT 6WWVY[\UP[PLZ -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPHUJL :OVY[ ;LYT -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0U]LZJV 0UKPH :OVY[ ;LYT -\UK .YV^[O

-

-

+:7 )SHJR9VJR )HURPUN HUK 7:< +LI[ -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

)PYSH :\U 3PML ;YLHZ\Y` 6W[PTPaLY 7SHU .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

+:7 )SHJRYVJR :;- .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS -SL_PISL 0UJVTL .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPHUJL 4VUL` 4HUHNLY -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

/+-* 4LKP\T ;LYT 6WWVY[\UP[PLZ -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

<;0 :OVY[ ;LYT 0UJVTL -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS :OVY[ ;LYT .YV^[O SHJ 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

SHJ 4HYJO ! 5PS (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

ANNUAL REPORT 2016-17

99

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

-

:)0 +LI[ -\UK :LYPLZ TVU[OZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL 0U[LY]HS -\UK 00 :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

-

+:7 )SHJR9VJR -47 :LYPLZ 4 .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

;H[H -47 :LYPLZ :JOLTL + .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

/+-* -47 + 1\S` :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

+/-3 7YHTLYPJH -47 :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU + *\T\SH[P]L 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ??0= :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

/+-* -47 + (\N\Z[ :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU - *\T\SH[P]L 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ??0= :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

2V[HR -47 :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

)PYSH :\U 3PML -47 :LYPLZ /4 KH`Z .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ??0= :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS *VYWVYH[L )VUK -\UK .YV^[O SHJ 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

100 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU / *\T\SH[P]L 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ??0= :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 1 *\T\SH[P]L

-

)PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ /0 KH`Z .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

+/-3 7YHTLYPJH -P_LK 4H[\YP[` 7SHU :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

)PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ /* KH`Z .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ??000 :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

/+-* -47 + 5V]LTILY :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

:\UKHYHT -P_LK ;LYT 7SHU -3 @9: .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL @LHYS` 0U[LY]HS -\UK :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU / *\T\SH[P]L 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

+/-3 7YHTLYPJH -47 :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

ANNUAL REPORT 2016-17 101

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

17 4VYNHU -47 :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL -P_LK /VYPaVU -\UK ??=0 :LYPLZ .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

9LSPHUJL +`UHTPJ )VUK -\UK .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

+/-3 7YHTLYPJH 3V^ +\YH[PVU -\UK (UU\HS )VU\Z

-

14 4VUL` 4HUHNLY -\UK :\WLY 7SHU )VU\Z 6W[PVU )VU\Z <UP[Z 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

:\UKHYHT -SL_PISL ZOVY[ [LYT M\UK )VU\Z 7SHU )VU\Z <UP[Z 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

838.88

3 ; *HZO -\UK .YV^[O 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

+/-3 7YHTLYPJH 0UZ[H *HZO 7S\Z -\UK (UU\HS )VU\Z 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0+)0 3PX\PK -\UK )VU\Z 7SHU 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

+/-3 7YHTLYPJH <S[YH :OVY[ ;LYT -\UK (UU\HS )VU\Z 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

3 ; ;YPWSL (JL )VUK -\UK )VU\Z 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ @LHYZ 7SHU - *\T\SH[P]L 5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

)PYSH :\U 3PML .V][ :LJ\YP[PLZ 3VUN ;LYT .YV^[O 5PS 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0+-* .V]LYUTLU[ :LJ\YP[PLZ -\UK 0U]LZ[TLU[ 7SHU .YV^[O 5PS 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS 3VUN ;LYT .PS[ -\UK .YV^[O 5PS 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

:)0 4HNU\T .PS[ -\UK 3VUN ;LYT .YV^[O 5PS 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

5PS 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

102 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

<;0 .PS[ (K]HU[HNL -\UK 3;7 .YV^[O 5PS 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

/+-* .PS[ -\UK 3VUN ;LYT .YV^[O 5PS 4HYJO ! SHJ (WYPS ! 5PS \UP[Z VM ` LHJO M\SS` WHPK

-

-

(_PZ -P_LK ;LYT 7SHU :LYPLZ +H`Z .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

;H[H -47 :LYPLZ :JOLTL + .YV^[O

-

-

2V[HR -47 :LYPLZ +H`Z .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

2V[HR -47 :LYPLZ +H`Z .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

+>: :OVY[ 4H[\YP[` 9LN\SHY 7SHU .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

;LTWSL[VU 0UKPH 0UJVTL 6WWVY[\UP[PLZ M\UK .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

;LTWSL[VU 0UKPH :;07 9L[HPS .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

+:7 )SHJR9VJR 0UJVTL 6WWVY[\UP[PLZ -\UK .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS 9LN\SHY :H]PUNZ -\UK .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

/+-* *VYWVYH[L +LI[ -\UK 9LN\SHY .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

-YHURSPU 0UKPH *VYWVYH[L )VUK 6WWVY[\UP[PLZ -\UK .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPNHYL 0U]LZJV (YIP[YHNL -\UK )VU\Z 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

)PYSH :\U 3PML 4LKP\T ;LYT 7SHU .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPHUJL 9LN\SHY :H]PUNZ -\UK .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

ANNUAL REPORT 2016-17 103

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

/+-* :OVY[ ;LYT 7SHU .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS -P_LK 4H[\YP[` 7SHU :LYPLZ @LHYZ 7SHU 3 *\T\SH[P]L

-

-

17 4VYNHU 0UKPH 0UJVTL -\UK :LYPLZ .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS :LYPLZ @LHYZ 7SHU 4 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\ -47 :LYPLZ @LHYZ 7SHU 0 .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

)PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ -> .YV^[O KH`Z 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPHUJL -P_LK /VYPaVU -\UK ??00 :LYPLZ .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

)PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ 2A +H`Z .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU ; *\T\SH[P]L 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

/+-* -47 + (WYPS :LYPLZ .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

9LSPHUJL -/- ??=0 :LYPLZ .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

/+-* -47 + (WYPS :LYPLZ .YV^[O 5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

-

-

5PS 4HYJO ! 5PS (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK

(VI) Share Application Money Pending Allotment 1/: :]LUKNHHYK 3HIVYH[VYPLZ 3[K ;V[HS 0U]LZ[TLU[ H[ -HPY =HS\L [OYV\NO WYVÄ[ HUK SVZZ ) (C) Investment at Amortized Cost

-

-

1,27,089.73

1,09,934.71

94,499.21

Investment in Bonds Quoted ,__VU 4VIPS *VYWVYH[PVU SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM <:+ LHJO M\SS` WHPK \W

104 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6B. INVESTMENTS (CONTD.) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

5H[PVUHS /PNO^H` (\[OVYP[` VM 0UKPH 3[K SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM ` LHJO M\SS` WHPK \W

7V^LY -PUHUJL *VYWVYH[PVU SHJ 4HYJO ! SHJ (WYPS ! SHJ <UP[Z VM ` LHJO M\SS` WHPK

-

-

-

-

Non - Current

5,847.50 1,33,416.23

861.26 1,15,402.97

824.46 98,838.17

Current (NNYLNH[L IVVR ]HS\L VM X\V[LK PU]LZ[TLU[Z (NNYLNH[L THYRL[ ]HS\L VM X\V[LK PU]LZ[TLU[Z (NNYLNH[L ]HS\L VM \UX\V[LK PU]LZ[TLU[Z

4PJYVZVM[ *VYW SHJ 4HYJO ! SHJ (WYPS ! SHJ \UP[Z VM <:+ LHJO M\SS` WHPK \W

Unquoted 7PYHTHS -PUHUJL 3PTP[LK 4HYJO ! 5PS (WYPS ! 5PS *VYWVYH[L IVUKZ VM ` LHJO M\SS WHPK 4HOPUKYH 9\YHS /V\ZPUN -PUHUJL 3PTP[LK 4HYJO ! 5PS (WYPS ! 5PS *VYWVYH[L IVUKZ VM ` LHJO M\SS WHPK Total Investment at Amortized Cost (C) Total Investments (A+B+C)

;OL JVTWHU` PZ TLHZ\YPUN P[Z PU]LZ[TLU[ PU QVPU[ ]LU[\YL H[ -=;6*0 HZ WLY 0UK (: HUK 0UK (: ;OLZL 0U]LZ[TLU[Z HYL WSLKNLK ^P[O +L\[ZJOL )HUR HNHPUZ[ V]LYKYHM[ MHJPSP[` PU -@ ;OLZL 0U]LZ[TLU[Z HYL WSLKNLK ^P[O *P[PIHUR HNHPUZ[ ,*) MHJPSP[` PU -@ SHJZ \UP[Z VM 0+-* +`UHTPJ )VUK -\UK .YV^[O VM MHJL ]HS\L ` WLY \UP[ LHJO HYL WSLKNLK ^P[O +L\[ZJOL )HUR HNHPUZ[ V]LYKYHM[ MHJPSP[` PU -@ ;OLZL 0U]LZ[TLU[Z HYL WSLKNLK ^P[O +L\[ZJOL )HUR HNHPUZ[ V]LYKYHM[ MHJPSP[` PU -@ 3HJ \UP[Z VM +:7 )SHJR9VJR :[YH[LNPJ )VUK -\UK 0UZ[P[\[PVUHS 7SHU .YV^[O ^P[O MHJL ]HS\L VM ` WLY \UP[ LHJO HYL WSLKNLK ^P[O +L\[ZJOL )HUR HNHPUZ[ V]LYKYHM[ MHJPSP[` PU -@ ;OLZL 0U]LZ[TLU[Z HYL WSLKNLK ^P[O +L\[ZJOL )HUR HNHPUZ[ V]LYKYHM[ MHJPSP[` PU -@ 3HJ \UP[Z VM 0+-* *VYWVYH[L )VUK -\UK .YV^[O VM MHJL ]HS\L ` WLY \UP[ LHJO HYL WSLKNLK ^P[O +L\[ZJOL )HUR HNHPUZ[ V]LYKYHM[ MHJPSP[` PU -@ EE ;OLZL 0U]LZ[TLU[Z HYL WSLKNLK ^P[O *P[PIHUR HNHPUZ[ ,*) MHJPSP[` PU -@ EEE;OLZL 0U]LZ[TLU[Z HYL WSLKNLK ^P[O +L\[ZJOL )HUR HNHPUZ[ V]LYKYHM[ MHJPSP[` PU -@

ANNUAL REPORT 2016-17 105

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 6C.

LOANS ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

<UZLJ\YLK JVUZPKLYLK NVVK H[ HTVY[PaLK JVZ[ :LJ\YP[` +LWVZP[ 3VHU [V Z\IZPKPHY` 0]` ;HSLU[ 3VHU [V ,TWSV`LL :[VJR 6W[PVU ;Y\Z[Z Material on loan

-

-

Total Loans Non - Current Current

5,142.02 3,445.31 1,696.71

3,417.32 3,417.32 -

3,405.71 3,400.71 5.00

6D. OTHER FINANCIAL ASSETS ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

I. Derivatives at fair value through profit and loss -VYL_ KLYP]H[P]L JVU[YHJ[

-

-

Total

-

-

196.59

+LYP]H[P]L PUZ[Y\TLU[Z H[ MHPY ]HS\L [OYV\NO WYVÄ[ HUK SVZZ YLÅLJ[ [OL WVZP[P]L JOHUNL PU MHPY ]HS\L VM [OVZL MVYLPNU L_JOHUNL MVY^HYK JVU[YHJ[Z HUK MVYLPNU J\YYLUJ` VW[PVUZ [OH[ HYL UV[ KLZPNUH[LK PU OLKNL YLSH[PVUZOPWZ I\[ HYL UL]LY[OLSLZZ PU[LUKLK [V YLK\JL [OL SL]LS VM MVYLPNU J\YYLUJ` YPZR MVY L_WLJ[LK ZHSLZ HUK W\YJOHZLZ II. Other Financial Assets at amortized cost Balance with Banks : 4HYNPU TVUL` OLSK HZ ZLJ\YP[`

Interest accrued on Inter-company deposits and others 3LHZL 9LJLP]HISL 6[OLY 9LJLP]HISLZ PUJS\KLZ YLJLP]HISL MYVT YLSH[LK WHY[PLZ 9LMLY 5V[L ( Income Accrued but not due

Total

3,752.51

738.13

666.87

9LWYLZLU[Z 7YLZLU[ ]HS\L VM TPUPT\T SLHZL YLU[HSZ YLJLP]HISLZ PU YLZWLJ[ VM HZZL[ NP]LU VU ÄUHUJL SLHZL [V [OL /VSKPUN *VTWHU` 9LMLY 5V[L

Total Other Financial Assets(I+II) Non - Current Current

3,752.51 1,810.69 1,941.82

738.13 240.81 497.32

863.47 282.49 580.98

9LWYLZLU[Z KLWVZP[ YLJLPW[Z WSLKNLK ^P[O IHURZ HUK OLSK HZ THYNPU TVUL` VM ` SHJZ 4HYJO ! ` SHJZ (WYPS ! ` SHJZ

Total Financial Assets Non - Current Current

106 HT MEDIA LIMITED

1,42,310.77 1,22,074.47 20,236.30

1,19,558.42 67,287.41 52,271.01

1,03,107.35 88,637.35 14,469.99

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Break up of financial assets carried at amortized cost ` PU 3HJZ Particulars

Note

March 31, 2017

March 31, 2016

April 1, 2015

Investments Trade receivables *HZO HUK JHZO LX\P]HSLU[Z Other Bank Balances Loans 6[OLY -PUHUJPHS HZZL[Z

) ( ) * * +

39,037.28

37,555.07

36,121.14

Total

Break up of financial assets at fair value through profit and loss ` PU 3HJZ Particulars Investments 6[OLY -PUHUJPHS HZZL[Z

Note ) +

Total

March 31, 2017

March 31, 2016

April 1, 2015

-

-

1,27,089.71

1,09,934.71

94,695.76

Break up of financial assets at fair value through other comprehensive income ` PU 3HJZ Particulars

Note

Investments

)

Total

March 31, 2017

March 31, 2016

April 1, 2015

479.00

4,607.00

3,514.50

7. INCOME TAX ASSETS (NET) ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

0UJVTL ;H_ (ZZL[Z UL[

Total Non - Current Current

6,319.20 6,319.20 -

5,121.83 5,121.83 -

4,585.19 4,585.19 -

8. OTHER NON- CURRENT ASSETS ` PU 3HJZ Particulars *HWP[HS (K]HUJL

March 31, 2017

March 31, 2016

April 1, 2015

Advances other than capital advances Prepaid expenses 3VUN ;LYT (K]HUJLZ 9LJV]LYHISL

Total

2,349.23

20,615.54

2,566.58

ANNUAL REPORT 2016-17 107

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 9. INVENTORIES ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

9H^ 4H[LYPHSZ PUJS\KLZ Z[VJR PU [YHUZP[ VM ` SHJZ 4HYJO ! ` SHJZ (WYPS ! ` SHJZ ]HS\LK H[ SV^LY VM JVZ[ HUK UL[ YLHSPZHISL ]HS\L

>VYR PU 7YVNYLZZ ]HS\LK H[ SV^LY VM JVZ[ HUK UL[ YLHSPZHISL ]HS\L :[VYLZ HUK ZWHYLZ ]HS\LK H[ SV^LY VM JVZ[ HUK UL[ YLHSPZHISL ]HS\L :JYHW HUK ^HZ[L WHWLYZ ([ UL[ YLHSPaHISL ]HS\L -PUPZOLK Z[VJR ]HS\LK H[ SV^LY VM JVZ[ HUK UL[ YLHSPZHISL ]HS\L

Total Inventories

10,791.37

11,398.62

10,885.62

10A.

TRADE RECEIVABLES ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Trade receivables 9LJLP]HISLZ MYVT YLSH[LK WHY[PLZ 5V[L (

Total

17,705.08

24,156.55

19,632.34

` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

:LJ\YLK JVUZPKLYLK NVVK <UZLJ\YLK JVUZPKLYLK NVVK <UZLJ\YLK JVUZPKLYLK KV\I[M\S

0TWHPYTLU[ VM \UZLJ\YLK +V\I[M\S +LI[Z

20,359.01

27,011.36

21,947.59

Total Trade Receivables

17,705.08

24,156.55

19,632.34

5V [YHKL VY V[OLY YLJLP]HISL HYL K\L MYVT KPYLJ[VYZ VY V[OLY VMÄJLYZ VM [OL JVTWHU` LP[OLY ZL]LYHSS` VY QVPU[S` ^P[O HU` other person. ;YHKL YLJLP]HISLZ HYL UVU PU[LYLZ[ ILHYPUN HUK JYLKP[ WLYPVK NLULYHSS` MHSSZ PU [OL YHUNL VM [V KH`Z [LYTZ

10B.

CASH AND CASH EQUIVALENTS ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Balance with banks : - On current accounts +LWVZP[Z ^P[O VYPNPUHS TH[\YP[` VM SLZZ [OHU [OYLL TVU[OZ *OLX\LZ KYHM[Z VU OHUK *HZO VU OHUK

Total

6,588.54

8,380.24

11,590.23

:OVY[ [LYT KLWVZP[Z HYL THKL MVY ]HY`PUN WLYPVKZ VM IL[^LLU VUL KH` HUK [OYLL TVU[OZ KLWLUKPUN VU [OL PTTLKPH[L JHZO YLX\PYLTLU[Z VM [OL *VTWHU` HUK LHYU PU[LYLZ[ H[ [OL YLZWLJ[P]L ZOVY[ [LYT KLWVZP[ YH[LZ

108 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

C

Statutory Reports

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ;OL *VTWHU` OHZ WSLKNLK H WHY[ VM P[Z ZOVY[ [LYT KLWVZP[Z [V M\SÄS JVSSH[LYHS YLX\PYLTLU[Z

([ 4HYJO [OL *VTWHU` OHK H]HPSHISL ` SHJZ 4HYJO ! ` SHJZ HUK (WYPS ! ` SHJZ VM \UKYH^U JVTTP[[LK IVYYV^PUN MHJPSP[PLZ

10C.

OTHER BANK BALANCES ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Other bank balances <UJSHPTLK KP]PKLUK HJJV\U[

Total

1.63

1.57

1.53

;OLZL IHSHUJLZ HYL UV[ H]HPSHISL MVY \ZL I` [OL JVTWHU` HZ [OL` YLWYLZLU[ JVYYLZWVUKPUN \UJSHPTLK KP]PKLUK SPHIPSP[PLZ -VY [OL W\YWVZL VM [OL Z[H[LTLU[ VM JHZO Ã…V^Z JHZO HUK JHZO LX\P]HSLU[Z JVTWYPZL [OL MVSSV^PUN! ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Balance with banks : - On current accounts +LWVZP[Z ^P[O VYPNPUHS TH[\YP[` VM SLZZ [OHU [OYLL TVU[OZ *OLX\LZ KYHM[Z VU OHUK *HZO VU OHUK

3LZZ )HUR V]LYKYHM[ UV[L (

6,588.54

8,380.24

11,590.23 -

Total

5,558.28

6,856.24

11,590.23

11.

OTHER CURRENT ASSETS ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Prepaid expenses Advances given Balance with government authorities

Total

4,348.40

4,104.43

2,903.69

12.

SHARE CAPITAL

Authorised Share Capital Particulars At April 1, 2015 0UJYLHZL KLJYLHZL K\YPUN [OL `LHY At March 31, 2016 0UJYLHZL KLJYLHZL K\YPUN [OL `LHY At March 31, 2017

Number of shares

Amount (` in Lacs)

ANNUAL REPORT 2016-17 109

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Terms/rights attached to equity shares ;OL *VTWHU` OHZ VUS` VUL JSHZZ VM LX\P[` ZOHYLZ OH]PUN WHY ]HS\L VM ` WLY ZOHYL ,HJO OVSKLY VM LX\P[` ZOHYLZ PZ LU[P[SLK [V VUL ]V[L WLY ZOHYL ;OL *VTWHU` KLJSHYLZ HUK WH`Z KP]PKLUKZ PU 0UKPHU Y\WLLZ ;OL KP]PKLUK WYVWVZLK I` [OL )VHYK VM +PYLJ[VYZ PZ Z\IQLJ[ [V [OL HWWYV]HS VM [OL ZOHYLOVSKLYZ PU [OL LUZ\PUN (UU\HS .LULYHS 4LL[PUN 0U [OL L]LU[ VM SPX\PKH[PVU VM [OL *VTWHU` [OL OVSKLYZ VM LX\P[` ZOHYLZ ^PSS IL LU[P[SLK [V YLJLP]L YLTHPUPUN HZZL[Z VM [OL *VTWHU` HM[LY KPZ[YPI\[PVU VM HSS WYLMLYLU[PHS HTV\U[Z ;OL KPZ[YPI\[PVU ^PSS IL PU WYVWVY[PVU [V [OL U\TILY VM LX\P[` ZOHYLZ held by the shareholders. Issued and subscribed capital Equity shares of ` 2 each issued, subscribed and fully paid Particulars

Number of shares

Amount (` in Lacs)

At April 1, 2015 *OHUNLZ K\YPUN [OL `LHY At March 31, 2016 *OHUNLZ K\YPUN [OL `LHY At March 31, 2017

Reconciliation of the equity shares outstanding at the beginning and at the end of the year : Particulars

Shares outstanding at the beginning of the year Shares Issued during the year Shares bought back during the year Less: Adjustment on account of ,X\P[` :OHYLZ OLSK I` /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ Shares outstanding at the end of the year

March 31, 2017

March 31, 2016

April 1, 2015

Number of shares

Amount (` in Lacs)

Number of shares

Amount (` in Lacs)

Number of shares

Amount (` in Lacs)

-

-

-

-

-

-

23,05,20,024

4,610.40

23,05,20,024

4,610.40

23,05,20,024

4,610.40

;OL HIV]L YLJVUJPSPH[PVU PZ UL[ VMM VM [OL HNNYLNH[L MHJL ]HS\L VM ,X\P[` :OHYLZ VM ` 3HJZ 5V VM ZOHYLZ 3HJZ OLSK I` /; 4LKPH ,TWSV`LL Welfare Trust.

Shares held by holding/ ultimate holding company and/ or their subsidiaries/ associates 6\[ VM LX\P[` ZOHYLZ PZZ\LK I` [OL JVTWHU` ZOHYLZ OLSK I` P[Z OVSKPUN JVTWHU` Z\IZPKPHY` VM OVSKPUN JVTWHU` HYL HZ below: ` PU 3HJZ Particulars ;OL /PUK\Z[HU ;PTLZ 3PTP[LK [OL OVSKPUN JVTWHU` SHJ 4HYJO SHJ (WYPS SHJ LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK

110 HT MEDIA LIMITED

March 31, 2017

March 31, 2016

April 1, 2015

A

01-15

B

About HT Media

16-58

C

Statutory Reports

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Details of shareholders holding more than 5% shares in the Company Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Number of shares

% holding

Number of shares

% holding

Number of shares

% holding

-

-

-

-

,X\P[` ZOHYLZ VM ` LHJO M\SS` paid ;OL /PUK\Z[HU ;PTLZ 3PTP[LK [OL holding company .V]LYUTLU[ 7LUZPVU -\UK .SVIHS

(Z VU 4HYJO .V]LYUTLU[ 7LUZPVU -\UK .SVIHS OHZ ZOHYLZ ILPUN VM [OL ZOHYL JHWP[HS (Z VU 4HYJO .V]LYUTLU[ 7LUZPVU -\UK .SVIHS OHZ ZOHYLZ ILPUN VM [OL ZOHYL JHWP[HS

(Z WLY YLJVYKZ VM [OL *VTWHU` PUJS\KPUN P[Z YLNPZ[LY VM ZOHYLOVSKLYZ TLTILYZ HUK V[OLY KLJSHYH[PVU YLJLP]LK MYVT [OL ZOHYLOVSKLYZ YLNHYKPUN ILULÄJPHS PU[LYLZ[ [OL HIV]L ZOHYLOVSKPUN YLWYLZLU[Z IV[O SLNHS HUK ILULÄJPHS V^ULYZOPWZ VM shares.

Aggregate number of equity shares issued as bonus, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date: Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Number of shares

Number of shares

Number of shares

,X\P[` ZOHYLZ HSSV[LK HZ M\SS` WHPK \W [V .V P JVT 4H\YP[P\Z 3PTP[LK W\YZ\HU[ [V H :JOLTL VM (YYHUNLTLU[ HUK +L TLYNLY \ Z VM [OL *VTWHUPLZ (J[

,X\P[` ZOHYLZ HSSV[LK HZ M\SS` WHPK \W [V ;OL /PUK\Z[HU ;PTLZ 3PTP[LK W\YZ\HU[ [V H :JOLTL VM (YYHUNLTLU[ HUK 9LZ[Y\J[\YPUN \ Z YLHK ^P[O ZLJ[PVUZ VM [OL *VTWHUPLZ (J[

:OHYLZ IV\NO[ IHJR HUK L_[PUN\PZOLK K\YPUN [OL @LHY ,UKLK 4HYJO

:P_ LX\P[` ZOHYLZ HSSV[[LK [V LYZ[^OPSL ZOHYLOVSKLYZ VM -PYLÃ…` L =LU[\YLZ 3PTP[LK VU 4HYJO W\YZ\HU[ [V [OL :JOLTL VM (YYHUNLTLU[ HUK 9LZ[Y\J[\YPUN \ Z YLHK ^P[O :LJ[PVUZ VM [OL *VTWHUPLZ (J[ IL[^LLU /; 4LKPH 3PTP[LK HUK -PYLÃ…` L =LU[\YLZ 3PTP[LK HUK [OLPY YLZWLJ[P]L ZOHYLOVSKLYZ HUK creditors

Shares reserved for issue under options -VY KL[HPSZ VM LX\P[` ZOHYLZ YLZLY]LK MVY [OL PZZ\L \UKLY ,TWSV`LL :[VJR 6W[PVUZ ,:67 VM [OL *VTWHU` YLMLY UV[L

ANNUAL REPORT 2016-17

111

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 13.

OTHER EQUITY ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Securities Premium *HWP[HS 9LKLTW[PVU 9LZLY]L *HWP[HS 9LZLY]L .LULYHS 9LZLY]L -=;6*0 MVY PU]LZ[TLU[ PU 1VPU[ =LU[\YL *VTWHU` 9L[HPULK ,HYUPUNZ

Total

165,226.49

155,756.96

148,273.29

Securities Premium (Refer Note 44) Particulars

` PU 3HJZ Amount

At April 1, 2015 3LZZ ! 3PJLUZL MLLZ HTVY[PaLK 9LMLY 5V[L

32,430.66

At March 31, 2016 3LZZ ! 3PJLUZL MLLZ HTVY[PaLK 9LMLY 5V[L

31,663.14

At March 31, 2017

31,095.39

Capital Redemption Reserve

` PU 3HJZ

Particulars

Amount

At April 1, 2015 *OHUNLZ K\YPUN [OL WLYPVK

2,045.45 -

At March 31, 2016 *OHUNLZ K\YPUN [OL WLYPVK

2,045.45 -

At March 31, 2017

2,045.45

P

+\YPUN [OL -@ HU HTV\U[ VM ` SHJZ OH]L ILLU [YHUZMLYYLK MYVT :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ [V *HWP[HS 9LKLTW[PVU 9LZLY]L VU HJJV\U[ VM 5VU J\T\SH[P]L 9LKLLTHISL WYLMLYLUJL ZOHYLZ VM ` LHJO ^LYL YLKLLTLK VU :LW[LTILY

PP ;OL )VHYK VM +PYLJ[VYZ H[ [OLPY TLL[PUN OLSK VU 4H` HWWYV]LK I\` IHJR VM M\SS` WHPK \W LX\P[` ZOHYLZ VM [OL *VTWHU` OH]PUN H MHJL ]HS\L VM ` MYVT [OL L_PZ[PUN ZOHYLOVSKLYZ ILULÄJPHS V^ULYZ V[OLY [OHU [OL WYVTV[LYZ WLYZVUZ ^OV HYL PU JVU[YVS VM [OL *VTWHU` MYVT [OL VWLU THYRL[ [OYV\NO Z[VJR L_JOHUNLZ H[ H WYPJL UV[ L_JLLKPUN ` WLY LX\P[` ZOHYL WH`HISL PU JHZO MVY HU HNNYLNH[L HTV\U[ not exceeding ` SHJZ ;OL )\` IHJR :JOLTL LU]PZHNLK [OL )\` )HJR VM ZOHYLZ VM TPUPT\T VM LX\P[` ZOHYLZ HUK H TH_PT\T VM LX\P[` ZOHYLZ 7\YZ\HU[ [V HIV]L K\YPUN [OL `LHY LUKLK 4HYJO [OL *VTWHU` OHZ IV\NO[ HUK L_[PUN\PZOLK LX\P[` ZOHYLZ VM ` LHJO The shares extinguished have been bought for an aggregate consideration of ` SHJZ ;OL L_JLZZ VM HNNYLNH[L JVUZPKLYH[PVU WHPK MVY )\` )HJR V]LY [OL MHJL ]HS\L VM ZOHYLZ ZV IV\NO[ IHJR HUK L_[PUN\PZOLK amounting to ` SHJZ PZ HKQ\Z[LK HNHPUZ[ [OL :OHYL 7YLTP\T (JJV\U[ -\Y[OLY HU HTV\U[ VM ` SHJZ LX\P]HSLU[ [V UVTPUHS ]HS\L VM ZOHYLZ IV\NO[ IHJR OHZ ILLU [YHUZMLYYLK [V *HWP[HS 9LKLTW[PVU 9LZLY]L MYVT .LULYHS 9LZLY]L

112 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ` PU 3HJZ

Capital Reserve Particulars

Amount

At April 1, 2015 *OHUNLZ K\YPUN [OL WLYPVK

7,234.45 -

At March 31, 2016 *OHUNLZ K\YPUN [OL WLYPVK 9LMLY 5V[L

7,234.45

At March 31, 2017

17,601.65

General Reserve

` PU 3HJZ

Particulars

Amount

At April 1, 2015 *OHUNLZ K\YPUN [OL WLYPVK

7,144.55 -

At March 31, 2016 *OHUNLZ K\YPUN [OL WLYPVK

7,144.55 -

At March 31, 2017

7,144.55

` PU 3HJZ

FVTOCI Reserve Particulars

Amount

At April 1, 2015 *OHUNLZ K\YPUN [OL WLYPVK

-

At March 31, 2016 *OHUNLZ K\YPUN [OL WLYPVK

At March 31, 2017

(5,441.00)

*OHUNL PU -=;6*0 9LZLY]L YLWYLZLU[Z MHPY ]HS\L VM 0UKPH ,K\JH[PVU :LY]PJLZ 7YP]H[L 3PTP[LK 1VPU[ ]LU[\YL JVUZPKLYLK PU IVVRZ

Retained Earnings Particulars At April 1, 2015 5L[ 7YVÄ[ MVY [OL WLYPVK Add: Items of other comprehensive income recognised directly in retained earnings 9LTLHZ\YLTLU[Z VM WVZ[ LTWSV`TLU[ ILULNj[ VISPNH[PVU UL[ VM [H_ 3LZZ! +P]PKLUK 7HPK 3LZZ! +P]PKLUK KPZ[YPI\[PVU [H_ (KK! (KQ\Z[TLU[ VM HJJ\T\SH[LK Z\YWS\Z VM /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ At March 31, 2016 5L[ 7YVÄ[ MVY [OL WLYPVK Add: Items of other comprehensive income recognised directly in retained earnings 9LTLHZ\YLTLU[Z VM WVZ[ LTWSV`TLU[ ILULNj[ VISPNH[PVU UL[ VM [H_ 3LZZ! +P]PKLUK 7HPK 3LZZ! +P]PKLUK KPZ[YPI\[PVU [H_ (KK! (KQ\Z[TLU[ VM HJJ\T\SH[LK Z\YWS\Z VM /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ At March 31, 2017

` PU 3HJZ Amount 99,418.18 107,669.37 112,780.45

;OL KPZHNNYLNH[PVU VM JOHUNLZ PU 6*0 I` LHJO [`WL VM YLZLY]LZ PU LX\P[` PZ KPZJSVZLK PU 5V[L

ANNUAL REPORT 2016-17 113

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 14A.

BORROWINGS ` PU 3HJZ

Particulars

Non- current Borrowings From Banks Secured Loan -VYLPNU *\YYLUJ` 5VU 9LWH[YPHISL -*59 3VHU MYVT *P[P )HUR 9LMLY UV[L ILSV^

Effective Interest Rate

Maturity

April 1, 2015

-

1,702.18

3,933.60

6,757.27

9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^

-

-

Buyer's credit from Kotak Mahindra Bank 9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^ <:+ TVU[O 3PIVY 1HU\HY` -VYLPNU *\YYLUJ` 5VU 9LWH[YPHISL ZWYLHK W H -*59 3VHU MYVT *P[P )HUR 9LMLY UV[L ILSV^

,_[LYUHS *VTTLYJPHS )VYYV^PUN MYVT *P[P )HUR 9LMLY UV[L ILSV^

<:+ TVU[OZ 3PIVY 1\UL ZWYLHK W H

Unsecured Buyer's credit from Bank of Tokyo and Mitsubishi

9LMLY UV[L ILSV^

-

,_[LYUHS *VTTLYJPHS )VYYV^PUN MYVT *P[P )HUR 9LMLY UV[L ILSV^ Current Borrowings From Banks Secured Buyer's credit from BNP Paribas )\`LY Z JYLKP[ MYVT 9V`HS )HUR VM Scotland

<:+ TVU[O 3PIVY 1\S` ZWYLHK W H

March 31, March 31, 2017 2016

<:+ TVU[OZ 3PIVY 1\UL ZWYLHK W H

9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^

9LMLY UV[L ILSV^

)\`LY Z JYLKP[ MYVT *0;0 )HUR

9LMLY UV[L ILSV^

9LMLY UV[L ILSV^

)\`LY Z JYLKP[ MYVT +): )HUR Buyer's credit from Yes Bank )\`LY Z JYLKP[ MYVT +L\[ZJOL )HUR )HUR 6]LYKYHM[ MYVT *0;0 )HUR

9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^

9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^ 9\UUPUN (JJV\U[ WH`HISL VU +LTHUK

=LUKVY ÄUHUJPUN MYVT *0;0 )HUR =LUKVY ÄUHUJPUN MYVT +L\[ZJOL )HUR *VTTLYJPHS 7HWLYZ MYVT /+-* )HUR *VTTLYJPHS 7HWLYZ MYVT 0*0*0 )HUR *VTTLYJPHS 7HWLYZ 9LSPHUJL *HWP[HS ;Y\Z[ *VTTLYJPHS 7HWLYZ MYVT ;(;( 4*VTTLYJPHS 7HWLYZ MYVT <;0 4*VTTLYJPHS 7HWLYZ MYVT 30* 4-

9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^

9LMLY UV[L ILSV^ 9LMLY UV[L ILSV^ 1\UL [V 1\UL 1\UL [V 1\UL (WYPS 4H` [V 4H` 4H` 1\UL

3LZZ ! (TV\U[ JS\IILK \UKLY ºV[OLY J\YYLU[ ÄUHUJPHS SPHIPSP[PLZ» *\YYLU[ 4H[\YP[PLZ VM 3VUN ;LYT )VYYV^PUN Net Current Borrowings Aggregate Secured Loans (NNYLNH[L <UZLJ\YLK 3VHUZ

114 HT MEDIA LIMITED

- -

-

- - -

-

99,185.60 87,744.46 20,308.53

97,037.61 84,514.77 17,808.73

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 NOTE 1- BUYER’S CREDIT FROM BANK OF TOKYO AND MITSUBISHI (UNSECURED) 6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT )HUR VM ;VR`V HUK 4P[Z\IPZOP <UZLJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT :LW[LTILY [PSS 4HYJO ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL HUK HYL K\L MVY YLWH`TLU[ YLZWLJ[P]L K\L KH[LZ Z[HY[PUN MYVT 1\UL [PSS +LJLTILY

NOTE 7- BUYER’S CREDIT FROM YES BANK (UNSECURED) 6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT @LZ )HUR <UZLJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT (\N\Z[ [PSS (\N\Z[ ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL HUK HYL K\L MVY YLWH`TLU[ YLZWLJ[P]L K\L KH[LZ Z[HY[PUN MYVT 4H` [PSS 1\UL

NOTE 8- BUYER’S CREDIT FROM DEUTSCHE BANK (UNSECURED) NOTE 2- BUYER’S CREDIT FROM DBS BANK (UNSECURED) 6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT +): )HUR <UZLJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT 5V]LTILY [PSS 1HU\HY` ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL and are due for repayment respective due dates starting MYVT (\N\Z[ [PSS 6J[VILY

6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT +L\[ZJOL )HUR <UZLJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT :LW[LTILY [PSS 4HYJO ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL and are due for repayment respective due dates starting MYVT 4H` [PSS +LJLTILY

NOTE 9- VENDOR FINANCING FROM CITI BANK (UNSECURED) NOTE 3- BUYER’S CREDIT FROM BNP PARIBAS BANK (SECURED) 6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT )57 )HUR :LJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT 4H` [PSS (\N\Z[ ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL HUK HYL K\L MVY YLWH`TLU[ YLZWLJ[P]L K\L KH[LZ Z[HY[PUN MYVT (WYPS [PSS 1\UL ;OL MHJPSP[` PZ ZLJ\YLK I` 7HYP WHZZ\ JOHYNL VU stocks and book debts of the company

NOTE 4- BUYER’S CREDIT FROM ROYAL BANK OF SCOTLAND (SECURED) 6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT 9V`HS )HUR VM :JV[SHUK :LJ\YLK ^HZ KYH^U VU (\N\Z[ ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL HUK HYL K\L MVY YLWH`TLU[ VU 1\S` ;OL MHJPSP[` ^HZ ZLJ\YLK I` -PYZ[ WHYP WHZZ\ JOHYNL V]LY [OL stock and book debts of the company

NOTE 5- BUYER’S CREDIT FROM KOTAK MAHINDRA BANK (SECURED) 6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT 2V[HR 4HOPUKYH )HUR :LJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT (\N\Z[ [PSS +LJLTILY ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL and are due for repayment respective due dates starting MYVT 1\UL [PSS :LW[LTILY ;OL MHJPSP[` PZ ZLJ\YLK I` -PYZ[ 7HYP WHZZ\ JOHYNL VU HSS L_PZ[PUN HUK future current assets of the company.

NOTE 6- BUYER’S CREDIT FROM CITI BANK (UNSECURED) 6\[Z[HUKPUN )\`LY»Z *YLKP[ SVHU MYVT *P[P )HUR <UZLJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT (\N\Z[ [PSS 5V]LTLIY ' H]LYHNL 0U[LYLZ[ 9H[L VM W H (WWSPJHISL 30)69 4HYNPU MYVT [PTL [V [PTL HUK HYL K\L MVY YLWH`TLU[ YLZWLJ[P]L K\L KH[LZ Z[HY[PUN MYVT 4H` [PSS (\N\Z[

6\[Z[HUKPUN =LUKVY -PUHUJPUN SVHU MYVT *P[P )HUR <UZLJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT 1HU\HY` [PSS 4HYJO ' H]LYHNL 0U[LYLZ[ 9H[L VM W H HUK HYL K\L MVY YLWH`TLU[ YLZWLJ[P]L K\L KH[LZ Z[HY[PUN MYVT (WYPS [PSS 1\UL

NOTE 10- VENDOR FINANCING FROM DEUTSCHE BANK (UNSECURED) 6\[Z[HUKPUN =LUKVY -PUHUJPUN SVHU MYVT +L\[ZJOL )HUR <UZLJ\YLK ^HZ KYH^U PU ]HYPV\Z [YHUJOLZ MYVT 6J[VILY [PSS 4HYJO ' H]LYHNL 0U[LYLZ[ 9H[L VM W H HUK HYL K\L MVY YLWH`TLU[ YLZWLJ[P]L K\L KH[LZ Z[HY[PUN MYVT (WYPS [PSS (\N\Z[

NOTE 11 - FOREIGN CURRENCY NON- REPATRIABLE (FCNR) LOAN FROM CITI BANK (SECURED) -*59 3VHU MYVT *P[P )HUR JHYYPLZ PU[LYLZ[ '<:+ TVU[O 3PIVY ZWYLHK W H ;OL SVHU PZ YLWH`HISL PU ZLTP HUU\HS LX\HS PUZ[HSTLU[Z VM <:+ Z[HY[PUN MYVT 1HU\HY` ;OL SVHU PZ ZLJ\YLK I` 7HYP 7HZZ\ JOHYNL VU JVTWHU`»Z HSS WYLZLU[ M\[\YL TV]HISL Ä_LK HZZL[Z

NOTE 12 - EXTERNAL COMMERCIAL BORROWING FROM CITI BANK (SECURED) ,_[LYUHS JVTTLYJPHS IVYYV^PUN MYVT *P[P )HUR JHYYPLZ PU[LYLZ[ '<:+ TVU[OZ 3PIVY ZWYLHK W H ;OL SVHU PZ YLWH`HISL PU ZLTP HUU\HS LX\HS PUZ[HSSTLU[Z VM <:+ Z[HY[PUN MYVT +LJLTILY ;OL SVHU PZ ZLJ\YLK I` 7HYP 7HZZ\ JOHYNL VU JVTWHU`»Z WYLZLU[ HUK M\[\YL TV]HISL Ä_LK HZZL[Z H[ ( 5VPKH ) ZLJ[VY +PZ[YPJ[ .H\[HT )\KO 5HNHY 5VPKH ) WSV[ 5V <K`VN =POHY .YLH[LY 5VPKH <[[HY 7YHKLZO HUK ÄYZ[ HUK L_JS\ZP]L JOHYNL PU MH]V\Y VM *P[PIHUR 5 ( VU HZZL[Z HJX\PYLK [V IL HJX\PYLK V\[ VM V\Y ,*) HUK 3* MHJPSP[PLZ VM <:+ 4U [V ZLJ\YL *P[PIHUR»Z ,*) 3* HUK OLKNPUN SPTP[Z

ANNUAL REPORT 2016-17 115

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 LOAN COVENANTS ;OL JVTWHU` OHZ JVTWSPLK ^P[O HSS [OL SVHU JV]LUHU[Z 9LMLY 5V[L

14B.

TRADE PAYABLES ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Trade Payable 4PJYV :THSS HUK 4LKP\T ,U[LYWYPZLZ 9LMLY 5V[L 9LSH[LK 7HY[PLZ 9LMLY 5V[L ( - Others

3.13

Total Non- Current Current

30,269.73 30,269.73

32,238.31 32,238.31

37,877.94 37,877.94

;LYTZ HUK JVUKP[PVUZ VM [OL HIV]L ÄUHUJPHS SPHIPSP[PLZ! ;YHKL WH`HISLZ HYL UVU PU[LYLZ[ ILHYPUN HUK HYL UVYTHSS` ZL[[SLK PU [OL YHUNL VM [V KH`Z [LYTZ -VY L_WSHUH[PVUZ PU [OL *VTWHU`»Z JYLKP[ YPZR THUHNLTLU[ WYVJLZZ YLMLY 5V[L

14C.

OTHER FINANCIAL LIABILITIES ` PU 3HJZ

Particulars 0 +LYP]H[P]LZ H[ MHPY ]HS\L [OYV\NO WYVÄ[ HUK SVZZ -VYL_ KLYP]H[P]L JVU[YHJ[ -VYLPNU J\YYLUJ` VW[PVUZ

March 31, 2017

March 31, 2016

April 1, 2015

-

162.34

198.67

-

Total (I) 00 6[OLY ÄUHUJPHS SPHIPSP[PLZ H[ HTVY[PaLK JVZ[ *\YYLU[ TH[\YP[` VM SVUN [LYT SVHUZ 9LMLY 5V[L ( Book Overdraft Sundry deposits Interest accrued but not due on borrowings and others <UJSHPTLK KP]PKLUK Others

Total (II) ;V[HS V[OLY ÄUHUJPHS SPHIPSP[PLZ 0 00 Non- Current Current (TV\U[ WH`HISL [V 0U]LU[VY ,K\JH[PVU HUK 7YV[LJ[PVU -\UK

4,016.07 4,178.41 4,178.41 Nil

5,350.83 5,549.50 5,549.50 Nil

10,617.97 10,617.97 10,617.97 Nil

FOREX DERIVATIVE CONTRACT

COUPON ONLY SWAP

>OPSL [OL *VTWHU` LU[LYLK PU[V MVYLPNU L_JOHUNL MVY^HYK contracts with the intention of reducing the foreign exchange YPZR VM MVYLPNU J\YYLUJ` IVUKZ IVYYV^PUNZ HUK WH`HISLZ These contracts are not designated in hedge relationships HUK HYL TLHZ\YLK H[ MHPY ]HS\L [OYV\NO WYVÄ[ HUK SVZZ

;OL *VTWHU` OHK LU[LYLK PU[V JV\WVU VUS` Z^HW [V OLKNL HNHPUZ[ L_WVZ\YL [V ]HYPHISL PU[LYLZ[ V\[ÅV^ VU ,_[LYUHS *VTTLYJPHS )VYYV^PUN :^HW [LYTZ HYL [V WH` Ä_LK PU[LYLZ[ ' W H VU UV[PVUHS ` amount and receive a variable PU[LYLZ[ ' [OYLL TVU[OZ 30)69 VU <:+ UV[PVUHS HTV\U[

CALL SPREAD OPTION TO BUY USD

INTEREST RATE SWAP

;OL *VTWHU` OHK LU[LYLK PU[V JHSS ZWYLHK VW[PVU [V I\` <:+ [V OLKNL WYPUJPWHS YLWH`TLU[ VM ,_[LYUHS *VTTLYJPHS )VYYV^PUN HUK -VYLPNU *\YYLUJ` 5VU 9LWH[YPHISL -*59 IVYYV^PUN

;OL *VTWHU` OHK LU[LYLK PU[V PU[LYLZ[ YH[L Z^HW [V OLKNL HNHPUZ[ L_WVZ\YL [V ]HYPHISL PU[LYLZ[ V\[ÅV^ VU -VYLPNU *\YYLUJ` 5VU 9LWH[YPHISL -*59 )VYYV^PUN :^HW [LYTZ HYL [V WH` Ä_LK PU[LYLZ[ ' W H VU UV[PVUHS <:+ HTV\U[ HUK YLJLP]L H ]HYPHISL PU[LYLZ[ ' VUL TVU[O 30)69 VU <:+ UV[PVUHS HTV\U[

116 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 BREAK UP OF FINANCIAL LIABILITIES CARRIED AT AMORTIZED COST ` PU 3HJZ Particulars

Note

March 31, 2017

March 31, 2016

April 1, 2015

)VYYV^PUNZ UVU J\YYLU[ )VYYV^PUNZ J\YYLU[ *\YYLU[ TH[\YP[` VM SVUN [LYT SVHUZ Book Overdraft Sundry deposits Interest accrued but not due on borrowings and others <UJSHPTLK KP]PKLUK Others Trade payables

14A 14A 14A * * * * * 14B

133,025.59

126,037.51

73,061.91

;V[HS ÄUHUJPHS SPHIPSP[PLZ JHYYPLK H[ HTVY[PaLK JVZ[

15.

PROVISIONS ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Other Provisions Provision for contingencies

Total Non- Current Current

2,416.67 119.37 2,297.30

3,634.08 146.90 3,487.18

7YV]PZPVU MVY LTWSV`LL ILULÄ[Z 7YV]PZPVU MVY 3LH]L )LULÄ[Z 7YV]PZPVU MVY .YH[\P[` 9LMLY 5V[L

2,176.37 126.16 2,050.21

Provision for contingencies ;OL WYV]PZPVU MVY JVU[PUNLUJPLZ YLWYLZLU[Z [OL ILZ[ LZ[PTH[L VM [OL THUHNLTLU[ MVY HU VISPNH[PVU VU [OL *VTWHU` PU YLSH[PVU [V H JSHPT W\Z\HU[ [V [OL I\ZPULZZ W\YJOHZL HNYLLTLU[ KH[LK 6J[VILY MVY W\YJOHZL VM [OL WYPU[PUN I\ZPULZZ MYVT P[Z OVSKPUN JVTWHU` 0UMVYTH[PVU \Z\HSS` YLX\PYLK I` 0UK (: 7YV]PZPVUZ *VU[PUNLU[ 3PHIPSP[PLZ HUK *VU[PUNLU[ (ZZL[Z PZ UV[ KPZJSVZLK VU [OL NYV\UKZ [OH[ P[ JHU IL L_WLJ[LK [V WYLQ\KPJL [OL PU[LYLZ[Z VM [OL *VTWHU`

Movement in provisions ` PU 3HJZ Particulars

Provision for contingencies

As at April 1, 2015 Arising during the year (TV\U[ 9L]LYZLK

992.40 -

As at April 1, 2016 Arising during the year (TV\U[ 9L]LYZLK [HRLU PU ¸<UJSHPTLK IHSHUJLZ \UZWLU[ SPHIPSP[PLZ ^YP[LU IHJR¹ OLHK VM 5V[L ¸6[OLY 0UJVTL¹

2,463.40

As at March 31, 2017

1,471.00

ANNUAL REPORT 2016-17 117

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 16. INCOME TAX ;OL THQVY JVTWVULU[Z VM PUJVTL [H_ L_WLUZL MVY [OL `LHY LUKLK 4HYJO HUK 4HYJO HYL !

Statement of profit and loss : Profit and loss section ` PU 3HJZ Particulars Current income tax : *\YYLU[ PUJVTL [H_ JOHYNL Adjustments in respect of current income tax of previous year Tax expense of discontinued operations Deferred tax : 9LSH[PUN [V VYPNPUH[PVU HUK YL]LYZHS VM [LTWVYHY` KPMMLYLUJLZ 0UJVTL [H_ L_WLUZL YLWVY[LK PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ

March 31, 2017

March 31, 2016

-

268.90

3,363.51

OCI section : +LMLYYLK [H_ YLSH[LK [V P[LTZ YLJVNUPZLK PU 6*0 K\YPUN PU [OL `LHY ! ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

0UJVTL [H_ JOHYNL JYLKP[ VU YLTLHZ\YLTLU[Z VM KLÄULK ILULÄ[ WSHUZ

Income tax charged to OCI

(16.06)

(77.61)

Reconciliation of tax expense and the accounting profit multiplied by India’s domestic tax rate for March 31, 2017 and March 31, 2016: ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

(JJV\U[PUN WYVÄ[ ILMVYL [H_ MYVT JVU[PU\PUN VWLYH[PVUZ 7YVÄ[ SVZZ ILMVYL [H_ MYVT H KPZJVU[PU\LK VWLYH[PVU

-

(JJV\U[PUN WYVÄ[ ILMVYL PUJVTL [H_ ([ 0UKPH Z Z[H[\[VY` PUJVTL [H_ YH[L VM 4HYJO !

6,419.53

12,708.44

At the effective income tax rate 0UJVTL [H_ L_WLUZL YLWVY[LK PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ Income tax attributable to a discontinued operation

268.90 268.90 -

3,363.51 6,286.85

Total Tax Expense

268.90

3,363.51

Non- taxable income : Income from Investments & Sale of Investment property Non-deductible expenses for tax purposes: Loss/Provision on Investments Other non deductible expenses Adjustments in respect of current income tax of previous years Adjustments in respect of defered income tax of previous years (KQ\Z[TLU[Z PU YLZWLJ[ VM 9L]LYZHS VM )YV\NO[ MVY^HYK *HWP[HS 3VZZLZ Adjustments related to difference of tax base and book base

118 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 DEFERRED TAX Deferred tax relates to the following: ` PU 3HJZ Particulars Deferred tax liabilities +PMMLYLUJLZ PU KLWYLJPH[PVU PU ISVJR VM Ä_LK HZZL[Z HZ WLY [H_ IVVRZ HUK ÄUHUJPHS IVVRZ Others

March 31, 2017

March 31, 2016

April 1, 2015

8,192.66

5,846.41

6,048.23

Provision for doubtful debts and advances *HYY` MVY^HYK VM \UHIZVYILK KLWYLJPH[PVU HUK SVZZLZ Others

Gross deferred tax assets Deferred tax liabilities (net)

4,443.15 3,749.51

3,174.27 2,672.14

4,258.51 1,789.72

Gross deferred tax liabilities +LMLYYLK [H_ HZZL[Z ,MMLJ[ VM L_WLUKP[\YL KLIP[LK [V Z[H[LTLU[ VM WYVÄ[ HUK SVZZ PU [OL J\YYLU[ year/earlier years but allowed for tax purposes in following years

Reflected in the balance sheet as follows: ` PU 3HJZ Particulars Deferred tax liabilities, net

March 31, 2017

March 31, 2016

April 1, 2015

3,749.51

2,672.14

1,789.72

Reconciliation of deferred tax liabilities (net): ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

Opening balance as of April 1 ;H_ L_WLUZL PUJVTL K\YPUN [OL WLYPVK YLJVNUPZLK PU WYVÄ[ HUK SVZZ ;H_ L_WLUZL PUJVTL K\YPUN [OL WLYPVK YLJVNUPZLK PU 6*S

Closing balance as at March 31

3,749.51

2,672.14

The company offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority. +\YPUN [OL `LHY LUKLK 4HYJO HUK 4HYJO [OL JVTWHU` OHZ WHPK KP]PKLUK [V P[Z ZOHYLOVSKLYZ ;OPZ OHZ YLZ\S[LK PU WH`TLU[ VM +P]PKLUK +PZ[YPI\[PVU ;H_ [V [OL [H_H[PVU H\[OVYP[PLZ ;OL JVTWHU` ILSPL]LZ [OH[ +P]PKLUK +PZ[YPI\[PVU ;H_ YLWYLZLU[Z HKKP[PVUHS WH`TLU[ [V [H_H[PVU H\[OVYP[` VU ILOHSM VM [OL ZOHYLOVSKLYZ /LUJL +P]PKLUK +PZ[YPI\[PVU ;H_ WHPK PZ JOHYNLK [V LX\P[`

ANNUAL REPORT 2016-17 119

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 17.

OTHER NON-CURRENT LIABILITIES ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

.V]LYUTLU[ .YHU[Z *\YYLU[ WVY[PVU VM .V]LYUTLU[ .YHU[Z

Non-current portion of Government Grants +LMLYYLK 9L]LU\L *\YYLU[ WVY[PVU VM +LMLYYLK 9L]LU\L

1,446.18

1,565.23

1,684.28

Non-current portion of Deferred Revenue Total

1,799.02

1,782.92

2,039.53

(K]HUJLZ MYVT *\Z[VTLYZ

Government Grants ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

At April 1 9LSLHZLK [V Z[H[LTLU[ VM WYVÄ[ HUK SVZZ

1,684.28

1,803.33

At March 31 Non- current Current

1,565.23 1,446.18 119.05

1,684.28 1,565.23 119.05

;OL *VTWHU` OHZ VI[HPULK SPJLUZLZ \UKLY [OL ,_WVY[ 7YVTV[PVU *HWP[HS .VVKZ º,7*.» :JOLTL MVY PTWVY[PUN JHWP[HS NVVKZ H[ H JVUJLZZPVUHS YH[L VM J\Z[VTZ K\[` <UKLY [OL [LYTZ VM [OL YLZWLJ[P]L ZJOLTL [OL *VTWHU` PZ YLX\PYLK [V L_WVY[ NVVKZ VY HUK ZLY]PJLZ PU YLZWLJ[ VM [OLZL SPJLUZLZ ;OL THUHNLTLU[ PZ JVUÄKLU[ VM M\SÄSSPUN [OL ZHPK JVTTP[TLU[ within the stipulated time or extended time as allowed.

18.

CURRENT TAX LIABILITY (NET) ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

*\YYLU[ [H_ SPHIPSP[` UL[

Total

434.27

1,026.71

634.13

19.

OTHER CURRENT LIABILITIES ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

(K]HUJLZ MYVT *\Z[VTLYZ *\Z[VTLYZ HUK HNLU[Z IHSHUJLZ Statutory dues *\YYLU[ WVY[PVU VM .V]LYUTLU[ .YHU[Z *\YYLU[ WVY[PVU VM +LMLYYLK 9L]LU\L

Total

34,092.06

27,514.98

20,886.82

120 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 20.

REVENUE FROM OPERATIONS ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

Total 3LZZ! +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L

1,43,204.23 -

1,52,672.87

Total for Continuing Operations

1,43,204.23

1,49,884.55

Sale of products - Sale of newspaper and publications Sale of services - Advertisement revenue - Airtime sales - Income from digital services 1VI ^VYR YL]LU\L HUK JVTTPZZPVU PUJVTL Other operating revenues :HSL VM ZJYHW ^HZ[L WHWLYZ HUK VSK W\ISPJH[PVU - Others

21.

OTHER INCOME ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

Interest income on - Bank deposits - Loan to subsidiary - Others

Dividend income on - Investment in Subsidiary

Other non - operating income Interest income from mutual funds 7YVÄ[ VU ZHSL VM PU]LZ[TLU[ WYVWLY[PLZ 0UJVTL MYVT .V][ .YHU[ 0UJVTL VU HZZL[Z NP]LU VU ÄUHUJPHS SLHZL <UJSHPTLK IHSHUJLZ \UZWLU[ SPHIPSP[PLZ ^YP[[LU IHJR UL[ 9LMLY 5V[L * 9LU[HS PUJVTL <U^PUKPUN VM KPZJV\U[ VU ZLJ\YP[` KLWVZP[ Miscellaneous Income

Total 3LZZ! +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L

15,688.97 -

10,578.01

Total for Continuing Operations

15,688.97

10,577.75

;OL *VTWHU` OHZ VI[HPULK SPJLUZLZ \UKLY [OL ,_WVY[ 7YVTV[PVU *HWP[HS .VVKZ º,7*.» :JOLTL MVY PTWVY[PUN JHWP[HS NVVKZ H[ H JVUJLZZPVUHS YH[L VM J\Z[VTZ K\[` <UKLY [OL [LYTZ VM [OL YLZWLJ[P]L ZJOLTL [OL *VTWHU` PZ YLX\PYLK [V L_WVY[ NVVKZ VY HUK ZLY]PJLZ PU YLZWLJ[ VM [OLZL SPJLUZLZ ;OL THUHNLTLU[ PZ JVUÄKLU[ VM M\SÄSSPUN [OL ZHPK JVTTP[TLU[ ^P[OPU [OL Z[PW\SH[LK [PTL VY L_[LUKLK [PTL HZ HSSV^LK

ANNUAL REPORT 2016-17 121

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 22.

COST OF MATERIALS CONSUMED ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

Consumption of raw material Inventory at the beginning of the year Add: Purchase during the year Less : Sale of damaged newsprint

Less: Inventory at the end of the year

44,178.82

47,761.85

Total

35,150.82

38,133.04

23.

(INCREASE)/DECREASE IN INVENTORIES ` PU 3HJZ

Particulars Inventory at the beginning of the year -PUPZOLK .VVKZ - Work -in- progress - Scrap and waste papers Inventory at the end of the year -PUPZOLK .VVKZ - Work -in- progress - Scrap and waste papers (Increase)/ decrease in inventories -PUPZOLK .VVKZ - Work -in- progress - Scrap and waste papers Total

24.

March 31, 2017

March 31, 2016

1.88

4.71

0.74

EMPLOYEE BENEFITS EXPENSE ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

:HSHYPLZ ^HNLZ HUK IVU\Z *VU[YPI\[PVU [V WYV]PKLU[ HUK V[OLY M\UKZ .YH[\P[` L_WLUZL 9LMLY 5V[L Workmen and Staff welfare expenses

Total 3LZZ! +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L

32,795.04 -

38,889.46

Total for Continuing Operations

32,795.04

33,398.08

25.

FINANCE COSTS ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

Interest on debts and borrowings ,_JOHUNL KPMMLYLUJL YLNHYKLK HZ HU HKQ\Z[TLU[ [V IVYYV^PUN JVZ[Z Bank charges

Total 3LZZ! +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L

7,868.40 -

5,100.44

Total for Continuing Operations

7,868.40

5,098.16

122 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 26.

DEPRECIATION AND AMORTIZATION EXPENSE ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

+LWYLJPH[PVU VM [HUNPISL HZZL[Z UV[L (TVY[PaH[PVU VM PU[HUNPISL HZZL[Z UV[L +LWYLJPH[PVU VU 0U]LZ[TLU[ 7YVWLY[PLZ UV[L

Total 3LZZ! +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L

9,746.79 -

7,152.47

Total for Continuing Operations

9,746.79

7,088.88

27.

OTHER EXPENSES ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

*VUZ\TW[PVU VM Z[VYLZ HUK ZWHYLZ Printing and service charges News service and dispatches :LY]PJL *OHYNLZ VU (K 9L]LU\L Power and fuel (K]LY[PZPUN HUK ZHSLZ WYVTV[PVU 9LMLY 5V[L -YLPNO[ HUK -VY^HYKPUN JOHYNLZ 9LU[ 9H[LZ HUK [H_LZ Insurance 9LWHPYZ HUK THPU[LUHUJL! - Plant and machinery - Building - Others Travelling and conveyance *VTT\UPJH[PVU JVZ[Z Legal and professional fees 7H`TLU[ [V H\KP[VY 9LMLY 5V[L ILSV^ +PYLJ[VY Z ZP[[PUN MLLZ ,_JOHUNL KPMMLYLUJLZ UL[ 0TWHPYTLU[ MVY KV\I[M\S KLI[Z HUK HK]HUJLZ PUJS\KLZ IHK KLI[Z ^YP[[LU VMM 3VZZ VU ZHSL VM 7YVWLY[` 7SHU[ HUK ,X\PWTLU[ HUK 0U[HUNPISLZ -HPY ]HS\L VM 0U]LZ[TLU[ [OYV\NO WYVÄ[ HUK SVZZ UL[ PUJS\KPUN 7YVÄ[ 3VZZ VU ZHSL VM 3VUN [LYT PU]LZ[TLU[Z 9LMLY 5V[L ILSV^ MVY KL[HPS

7YVNYHTTPUN *VZ[ License fees 5L^Z *VU[LU[ ZV\YJPUN MLLZ Impairment towards value of investment properties Provision for contingencies +VUH[PVUZ 9LMLY 5V[L Miscellaneous expenses

318.34

Total 3LZZ! +PZJVU[PU\LK 6WLYH[PVUZ 9LMLY 5V[L

66,907.91 -

63,370.29

Total for Continuing Operations

66,907.91

57,691.96

ANNUAL REPORT 2016-17 123

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 7\YZ\HU[ [V [OL ZHUJ[PVU VM [OL :JOLTL VM (YYHUNLTLU[ \ Z VM [OL *VTWHUPLZ (J[ IL[^LLU [OL *VTWHU` HUK /; +PNP[HS :[YLHTZ 3PTP[LK /;+:3 HUK [OLPY YLZWLJ[P]L ZOHYLOVSKLYZ JYLKP[VYZ MVY [YHUZMLY HUK ]LZ[PUN VM 4\S[P TLKPH *VU[LU[ 4HUHNLTLU[ <UKLY[HRPUN VM [OL *VTWHU` ¸44*4 <UKLY[HRPUN¹ [V HUK PU /;+:3 [OL *VTWHU` OHZ LU[LYLK PU[V H JVU[LU[ ZOHYPUN HNYLLTLU[ MVY SPJLUZPUN VM SP[LYHY` JVU[LU[ MYVT /;+: HZ WLY T\[\HSS` HNYLLK [LYTZ +\YPUN [OL `LHY LUKLK 4HYJO [OL *VTWHU` OHZ PUJ\YYLK HU HTV\U[ VM ` 3HJZ 7YL]PV\Z @LHY 5PS VU HJJV\U[ VM Z\JO L_WLUZL (SZV 9LMLY 5V[L 0UJS\KLZ 7YV]PZPVU [V^HYKZ 0TWHPYTLU[ VM 7YVWLY[` 7SHU[ HUK ,X\PWTLU[ VM ` 3HJZ 7YL]PV\Z @LHY 5PS

Payment to auditors ` PU 3HJZ Particulars As auditor : - Audit fee 3PTP[LK 9L]PL^ - Tax audit fee In other capacities : *LY[PÄJH[PVU MLLZ - Other services 9LPTI\YZLTLU[ VM L_WLUZLZ Service tax on above Total

March 31, 2017

March 31, 2016

18.38

18.43

121.37

142.94

Detail of Fair value of Investment through profit and loss (net) ` PU 3HJZ Particulars .HPU VU MHPY ]HS\H[PVU VM 0U]LZ[TLU[Z YLJVNUPaLK K\YPUN [OL `LHY Loss on fair valuation of Investments recognized during the year Actual Loss on Investments sold during the year (J[\HS 7YVÄ[ VU 0U]LZ[TLU[Z ZVSK K\YPUN [OL `LHY 9L]LYZHS VM PTWHPYTLU[ 3VZZ VU 0U]LZ[TLU[Z ZVSK K\YPUN [OL `LHY Total

28.

March 31, 2017

March 31, 2016

420.28

916.31

EXCEPTIONAL ITEMS ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

0UJVTL MYVT ZHSL VM ¸/PUK\Z[HU HUK HSSPLK IYHUKZ¹ [V /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK 9LMLY 5V[L P

-

Income (A) 7YV]PZPVU MVY KPTPU\[PVU PU ]HS\L VM PU]LZ[TLU[Z 9LMLY 5V[L PP

-

6,200.00

Expenses (B) Net Income/(Expense) (A)-(B)

-

4,096.00 2,104.00

124 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 shareholders & creditors for transfer and vesting of 4\S[P TLKPH *VU[LU[ 4HUHNLTLU[ <UKLY[HRPUN VM [OL *VTWHU` ¸44*4 <UKLY[HRPUN¹ [V HUK PU /;+:3 HZ NVPUN JVUJLYU VU ZS\TW L_JOHUNL IHZPZ ^P[O LMMLJ[ MYVT JSVZPUN OV\YZ VM 4HYJO º(WWVPU[LK +H[L» º[OL :JOLTL» ^HZ ZHUJ[PVULK I` [OL /VU»ISL +LSOP /PNO *V\Y[ PU [LYTZ VM VYKLYZ KH[LK (\N\Z[ HUK 5V]LTILY HUK [OL /VU»ISL /PNO *V\Y[ VM 1\KPJH[\YL H[ 7H[UH PU [LYTZ VM [OL Q\KNLTLU[ KH[LK 5V]LTILY HUK VYKLY KH[LK +LJLTILY HUK ^P[O 9LNPZ[YHY VM *VTWHUPLZ )POHY VU +LJLTILY

Note:P +\YPUN [OL WYL]PV\Z `LHY *VTWHU` OHZ ZVSK [OL /PUKP )\ZPULZZ )YHUK BP L /PUK\Z[HU /PUK\Z[HU PU 5HUKHU 2HKHTIPUP /\T ;\T HUK JLY[HPU V[OLY /PUKP W\ISPJH[PVU YLSH[LK [YHKLTHYRZ [OL ¸/PUKP )\ZPULZZ ;YHKLTHYRZ¹ D [V P[Z Z\IZPKPHY` JVTWHU` /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK PP ;OL *VTWHU` THKL WYV]PZPVU VM ` 3HJZ MVY diminution in value of its investment held in a step KV^U Z\IZPKPHY` -PYLÃ…` L =LU[\YLZ 3PTP[LK -,=3 ;OL provision consists of ` SHJZ PU [OL ]HS\L VM 0U]LZ[TLU[Z OLSK KPYLJ[S` I` [OL *VTWHU` PU -,=3 HUK ` SHJZ MVY PU]LZ[TLU[ OLSK I` [OL *VTWHU` PU -,=3 [OYV\NO P[Z ^OVSS` V^ULK Z\IZPKPHY` /; +PNP[HS 4LKPH /VSKPUNZ 3PTP[LK WHYLU[ JVTWHU` VM -,=3 The provision is triggered due to substantial decline PU UL[ ^VY[O VM -,=3 HUK W\YZ\HU[ [V [OL HWWYV]HS VM [OL )VHYK VM +PYLJ[VYZ HUK :OHYLOVSKLYZ VM -PYLÃ…` /; +PNP[HS HUK /; 4VIPSL MVY H *VTWVZP[L :JOLTL VM *HWP[HS 9LK\J[PVU HUK (YYHUNLTLU[ [OL :JOLTL \UKLY :LJ[PVUZ [V VM [OL *VTWHUPLZ (J[ HSVUN ^P[O :LJ[PVU VM [OL *VTWHUPLZ (J[ HUK :LJ[PVUZ VM *VTWHUPLZ (J[ HTVUN -PYLÃ…` /; +PNP[HS HUK /; 4VIPSL ;OL *VTWHUPLZ HUK [OLPY YLZWLJ[P]L ZOHYLOVSKLYZ HUK JYLKP[VYZ Z\IQLJ[ [V YLX\PZP[L HWWYV]HS Z HUK ZHUJ[PVU I` [OL /VU»ISL +LSOP /PNO *V\Y[ ;OL :JOLTL PU[LY HSPH WYV]PKLZ MVY YLK\J[PVU VM ZOHYL JHWP[HS PU -PYLÃ…` HUK /; +PNP[HS MVSSV^LK I` KLTLYNLY VM /; *HTW\Z <UKLY[HRPUN +LTLYNLK <UKLY[HRPUN VM -PYLÃ…` HUK [YHUZMLY HUK ]LZ[PUN [OLYLVM PU[V [OL /; 4VIPSL ^ L M MYVT 1\UL [OL (WWVPU[LK +H[L

29. TRANSFER OF MULTI-MEDIA CONTENT MANAGEMENT UNDERTAKING OF THE COMPANY (‘MMCM UNDERTAKING’) TO HT DIGITAL STREAMS LIMITED

;OL )VHYK VM +PYLJ[VYZ VM [OL *VTWHU` H[ P[Z TLL[PUNZ OLSK VU 5V]LTILY VU [OL YLJVTTLUKH[PVU VM [OL (\KP[ *VTTP[[LL OHK HWWYV]LK [OL [YHUZMLY HUK ]LZ[PUN VM [OL 4\S[P TLKPH *VU[LU[ 4HUHNLTLU[ <UKLY[HRPUN VM [OL *VTWHU` º44*4 <UKLY[HRPUN» [V HUK PU /; +PNP[HS :[YLHTZ 3PTP[LK ;YHUZMLYLL *VTWHU` H ^OVSS` V^ULK Z\IZPKPHY` HZ H ºNVPUN JVUJLYU» VU H ZS\TW L_JOHUNL IHZPZ I` ^H` VM PZZ\L VM M\SS` WHPK \W LX\P[` ZOHYLZ VM [OL ;YHUZMLYLL *VTWHU` [V [OL *VTWHU`

;OL :JOLTL VM (YYHUNLTLU[ \ Z VM [OL *VTWHUPLZ (J[ IL[^LLU [OL *VTWHU` HUK /; +PNP[HS :[YLHTZ 3PTP[LK /;+:3 HUK [OLPY YLZWLJ[P]L

;OL :JOLTL ILJHTL LMMLJ[P]L MYVT +LJLTILY JSVZPUN OV\YZ º,MMLJ[P]L +H[L» JVUZLX\LU[ \WVU ÄSSPUN VM [OL Q\KNLTLU[Z VYKLYZ WHZZLK I` [OL /VU»ISL /PNO *V\Y[Z ^P[O YLZWLJ[P]L 9LNPZ[YHY VM *VTWHUPLZ -PUHUJPHS PTWHJ[ VM [OL :JOLTL ^HZ JVUZPKLYLK PU \UH\KP[LK -PUHUJPHS 9LZ\S[Z MVY [OL X\HY[LY HUK UPUL TVU[OZ LUKLK +LJLTILY " HZ Z\TTHYPaLK below:

H /;+:3 HSSV[[LK P[Z ,X\P[` :OHYLZ VM ` LHJO [V [OL JVTWHU` [OL *VTWHU` UV^ OVSKZ VM LX\P[` ZOHYL JHWP[HS VM /;+:3

I (U HTV\U[ VM ` 3HJZ ILPUN KPMMLYLUJL VM W\YJOHZL JVUZPKLYH[PVU ` 3HJZ HUK )VVR =HS\L VM 5L[ (ZZL[Z ` 3HJZ ULNH[P]L [YHUZMLYYLK [V /;+:3 ^HZ YLJVYKLK HZ *HWP[HS 9LZLY]L PU [OL IVVRZ VM [OL *VTWHU` ;OL *VTWHU` MVSSV^LK [OL HWWSPJHISL (JJV\U[PUN :[HUKHYKZ ZWLJPÄLK \UKLY :LJ[PVU VM [OL *VTWHUPLZ (J[ YLHK ^P[O 9\SL VM *VTWHUPLZ (JJV\U[Z 9\SLZ HUK V[OLY .LULYHSS` (JJLW[LK (JJV\U[PUN 7YPUJPWSLZ HZ VU [OL (WWVPU[LK +H[L PU HJJVYKHUJL ^P[O [OL ZJOLTL HWWYV]LK I` /VU»ISL +LSOP /PNO *V\Y[ ;OPZ PZ UV[ similar to the accounting as per applicable Indian (JJV\U[PUN :[HUKHYKZ 0UK (: WYLZJYPILK \UKLY :LJ[PVU VM [OL *VTWHUPLZ (J[ YLHK ^P[O YLSL]HU[ Y\SLZ PZZ\LK [OLYL\UKLY /V^L]LY [OPZ ^HZ PU JVTWSPHUJL ^P[O (JJV\U[PUN :[HUKHYKZ ZWLJPÄLK \UKLY :LJ[PVU VM [OL *VTWHUPLZ (J[ YLHK ^P[O 9\SL VM *VTWHUPLZ (JJV\U[Z 9\SLZ HUK V[OLY .LULYHSS` (JJLW[LK (JJV\U[PUN Principles as applicable when the scheme was ÄSLK ILMVYL ^P[O /VU»ISL /PNO *V\Y[ HUK HZ VU [OL (WWVPU[LK +H[L P L 4HYJO

ANNUAL REPORT 2016-17 125

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Details of assets and liability transferred are as below:Particulars 1. Non-current assets 7YVWLY[` WSHU[ HUK LX\PWTLU[ 0U[HUNPISL (ZZL[Z 2.

Current assets H -PUHUJPHS HZZL[Z P ;YHKL YLJLP]HISLZ PP 3VHUZ I 6[OLY J\YYLU[ HZZL[Z

Total Current Assets Total Assets (A) 3. Current liabilities H 7YV]PZPVUZ I 6[OLY J\YYLU[ SPHIPSP[PLZ Total Current liabilities Total liabilities (B) Net Asset transferred to the Company (A-B) Add: Purchase Consideration Accounted in Capital Reserve

Amount (` in Lacs)

1,324.37 1,651.82 2,119.01 2,119.01 (467.20) (9,900.00) (10,367.20)

J ;OL YL]LU\LZ LHYULK HUK L_WLUZLZ PUJ\YYLK MVY [OL UPUL TVU[OZ WLYPVK P L MYVT [OL (WWVPU[LK +H[L [V [OL ,MMLJ[P]L +H[L ^LYL [YHUZMLYYLK [V /;+:3 VU [OL LMMLJ[P]L KH[L ^OPJO YLZ\S[LK PU[V SV^LY WYVÄ[ HM[LY [H_ HTV\U[ VM ` Lacs during the current year.

;OL ÄUHUJPHSZ MVY `LHY LUKLK 4HYJO KV UV[ PUJS\KL ÄUHUJPHSZ VM 44*4 <UKLY[HRPUN KPZJVU[PU\LK VWLYH[PVUZ OV^L]LY [OL ÄUHUJPHSZ MVY [OL `LHY LUKLK 4HYJO PUJS\KLK UL[ L_WLUZLZ YLSH[HISL [V 44*4 <UKLY[HRPUN VM ` 3HJZ UL[ VM [H_ VM ` 3HJZ YLZWLJ[P]LS` /LUJL [OL KL[HPSLK YLSH[HISL PUMVYTH[PVU VM KPZJVU[PU\LK VWLYH[PVUZ MVY [OL `LHY LUKLK 4HYJO PZ HZ \UKLY! ` PU 3HJZ

Particulars

Total Income Expenses ,TWSV`LL ILULÄ[Z L_WLUZL -PUHUJL *VZ[Z +LWYLJPH[PVU HUK HTVY[PZH[PVU L_WLUZL Other expenses

Year Ended March 31, 2016 2,788.58

Total Expenses 7YVÄ[ 3VZZ ILMVYL ;H_ ;H_ ,_WLUZL *YLKP[

11,235.58 (8,447.00)

5L[ 7YVÄ[ 3VZZ MVY [OL WLYPVK

(5,523.66)

126 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Cash Flows ` PU 3HJZ Particulars

Year Ended March 31, 2016

Operating Investing -PUHUJPUN

-

5L[ JHZO V\[Ã…V^ PUÃ…V^

30.

OTHER COMPREHENSIVE INCOME

;OL KPZHNNYLNH[PVU VM JOHUNLZ [V 6*0 I` LHJO [`WL VM YLZLY]L PU LX\P[` PZ ZOV^U ILSV^ ! +\YPUN [OL `LHY LUKLK 4HYJO Particulars

` PU 3HJZ

FVTOCI Reserve

Retained earnings

Total

.HPU SVZZ VU -=;6*0 ÄUHUJPHS HZZL[Z 9L TLHZ\YLTLU[ NHPUZ SVZZLZ VU KLÄULK ILULÄ[ WSHUZ ;H_ PTWHJ[ VU 9L TLHZ\YLTLU[ NHPUZ SVZZLZ VU KLÄULK ILULÄ[ WSHUZ

-

Total

(5,441.00)

(60.63)

(5,501.63)

;OL *VTWHU`»Z PU]LZ[TLU[ PU 1VPU[ =LU[\YL 0UKPH ,K\JH[PVU :LY]PJLZ 7YP]H[L 3PTP[LK 0,:73 OHZ ILLU ]HS\LK H[ -=;6*0 ;OL .YVZZ HTV\U[ VM [OL investment made is ` 3HJZ HNHPUZ[ ^OPJO ` 3HJZ OHZ ILLU WYV]PKLK [OYV\NO 6*0

+\YPUN [OL `LHY LUKLK 4HYJO Particulars

` PU 3HJZ Retained earnings

Total

9L TLHZ\YLTLU[ NHPUZ SVZZLZ VU KLÄULK ILULÄ[ WSHUZ ;H_ PTWHJ[ VU 9L TLHZ\YLTLU[ NHPUZ SVZZLZ VU KLÄULK ILULÄ[ WSHUZ

Total

(115.36)

(115.36)

31. EARNINGS PER SHARE (EPS) HZPJ ,7: HTV\U[Z HYL JHSJ\SH[LK I` KP]PKPUN [OL WYVÄ[ MVY [OL `LHY H[[YPI\[HISL [V LX\P[` OVSKLYZ I` [OL ^LPNO[LK H]LYHNL ) U\TILY VM ,X\P[` ZOHYLZ V\[Z[HUKPUN K\YPUN [OL `LHY PS\[LK ,7: HTV\U[Z HYL JHSJ\SH[LK I` KP]PKPUN [OL WYVÄ[ H[[YPI\[HISL [V LX\P[` OVSKLYZ I` [OL ^LPNO[LK H]LYHNL U\TILY + VM ,X\P[` ZOHYLZ V\[Z[HUKPUN K\YPUN [OL `LHY WS\Z [OL ^LPNO[LK H]LYHNL U\TILY VM ,X\P[` ZOHYLZ [OH[ ^V\SK IL PZZ\LK VU JVU]LYZPVU VM HSS [OL KPS\[P]L WV[LU[PHS ,X\P[` ZOHYLZ PU[V ,X\P[` ZOHYLZ

ANNUAL REPORT 2016-17 127

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ;OL MVSSV^PUN YLÃ…LJ[Z [OL PUJVTL HUK ZOHYL KH[H \ZLK PU [OL IHZPJ HUK KPS\[LK ,7: JVTW\[H[PVUZ! ` PU SHJZ L_JLW[ LHYUPUN WLY ZOHYL Particulars

March 31, 2017

7YVÄ[ H[[YPI\[HISL [V LX\P[` OVSKLYZ *VU[PU\PUN VWLYH[PVUZ +PZJVU[PU\LK VWLYH[PVU

March 31, 2016

-

7YVÄ[ H[[YPI\[HISL [V LX\P[` OVSKLYZ Weighted average number of Equity shares for basic and diluted EPS ,MMLJ[ VM KPS\[PVU

6,150.63 2,327.48 -

9,344.93 2,327.48 -

Weighted average number of Equity shares adjusted for the effect of dilution* ,HYUPUNZ WLY ZOHYL MVY JVU[PU\PUN HUK KPZJVU[PU\LK VWLYH[PVUZ )HZPJ ,7: +PS\[LK ,7:

2,327.48

2,327.48

Earnings per share for continuing operations )HZPJ ,7: +PS\[LK ,7:

Earnings per share for discontinued operations )HZPJ ,7: +PS\[LK ,7:

- -

;OL ^LPNO[LK H]LYHNL U\TILY VM ZOHYLZ [HRLZ PU[V HJJV\U[ [OL ^LPNO[LK H]LYHNL LMMLJ[ VM JOHUNLZ PU [YLHZ\Y` ZOHYL [YHUZHJ[PVUZ K\YPUN [OL `LHY ;OLYL OH]L ILLU UV V[OLY [YHUZHJ[PVUZ PU]VS]PUN LX\P[` ZOHYLZ VY WV[LU[PHS ,X\P[` :OHYLZ IL[^LLU [OL YLWVY[PUN KH[L HUK [OL KH[L VM H\[OVYPZH[PVU VM [OLZL -PUHUJPHS :[H[LTLU[Z

32.

DISTRIBUTION MADE AND PROPOSED ` PU 3HJZ

Particulars

March 31, 2017

Dividend on equity shares declared and paid : -PUHS KP]PKLUK MVY [OL `LHY LUKLK VU 4HYJO ! ` WLY ZOHYL 4HYJO ! ` WLY ZOHYL +P]PKLUK +PZ[YPI\[PVU ;H_ VU ÄUHS KP]PKLUK Proposed dividends on Equity shares*: +P]PKLUK WYVWVZLK MVY [OL `LHY LUKLK VU 4HYJO ! ` WLY ZOHYL 4HYJO ! ` WLY ZOHYL +P]PKLUK +PZ[YPI\[PVU ;H_ VU WYVWVZLK KP]PKLUK

March 31, 2016

987.29

1,009.30

987.29

987.29

7YVWVZLK KP]PKLUKZ VU LX\P[` ZOHYLZ HYL Z\IQLJ[ [V HWWYV]HS H[ [OL HUU\HS NLULYHS TLL[PUN HUK HYL UV[ YLJVNUPZLK HZ H SPHIPSP[` PUJS\KPUN +P]PKLUK +PZ[YPI\[PVU ;H_ [OLYLVU HZ H[ 4HYJO

33.

GRATUITY ` PU 3HJZ

Particulars

March 31, 2017

March 31, 2016

April 1, 2015

.YH[\P[` 7SHU

Total Non- Current Current

546.55 119.37 427.18

668.33 146.90 521.43

746.78 126.16 620.62

128 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ;OL *VTWHU` OHZ H KLÄULK ILULÄ[ NYH[\P[` WSHU ,]LY` LTWSV`LL ^OV OHZ JVTWSL[LK Ä]L `LHYZ VY TVYL VM ZLY]PJLZ NL[Z H NYH[\P[` VU ZLWHYH[PVU H[ KH`Z ZHSHY` SHZ[ KYH^U ZHSHY` MVY LHJO JVTWSL[LK `LHY VM ZLY]PJL ;OL *VTWHU` OHZ MVYTLK H .YH[\P[` ;Y\Z[ [V ^OPJO JVU[YPI\[PVU PZ THKL IHZLK VU HJ[\HYPHS ]HS\H[PVU KVUL I` PUKLWLUKLU[ ]HS\LY ;OL NYH[\P[` WSHU PZ NV]LYULK I` [OL 7H`TLU[ VM .YH[\P[` (J[ ;OL *VTWHU` OHZ W\YJOHZLK PUZ\YHUJL WVSPJ` which is a year-on-year cash accumulation plan in which the interest rate is declared on yearly basis and is guaranteed MVY H WLYPVK VM VUL `LHY ;OL PUZ\YHUJL *VTWHU` HZ WHY[ VM [OL WVSPJ` Y\SLZ THRLZ WH`TLU[ VM HSS NYH[\P[` V\[NVLZ OHWWLUPUN K\YPUN [OL `LHY Z\IQLJ[ [V Z\MÄJPLUJ` VM M\UKZ \UKLY [OL WVSPJ` ;OL WVSPJ` [O\Z TP[PNH[LZ [OL SPX\PKP[` YPZR /V^L]LY ILPUN H JHZO HJJ\T\SH[PVU WSHU [OL K\YH[PVU VM HZZL[Z PZ ZOVY[LY JVTWHYLK [V [OL K\YH[PVU VM SPHIPSP[PLZ ;O\Z [OL *VTWHU` PZ L_WVZLK [V TV]LTLU[ PU PU[LYLZ[ YH[L PU WHY[PJ\SHY [OL ZPNUPÄJHU[ MHSS PU PU[LYLZ[ YH[LZ ^OPJO ZOV\SK YLZ\S[ in an increase in liability without corresponding increase in the asset. ;OL MVSSV^PUN [HISLZ Z\TTHYPZL [OL JVTWVULU[Z VM UL[ ILULÄ[ L_WLUZL YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ and the funded status and amounts recognised in the balance sheet:

Defined Gratuity Plan *OHUNLZ PU [OL KLÄULK ILULÄ[ VISPNH[PVU HUK MHPY ]HS\L VM WSHU HZZL[Z HZ H[ 4HYJO ! Present value of Obligation ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

Opening Balance *\YYLU[ :LY]PJL *VZ[ 0U[LYLZ[ ,_WLUZL VY JVZ[ 9L TLHZ\YLTLU[ VY (J[\HYPHS NHPU SVZZ HYPZPUN MYVT! JOHUNL PU ÄUHUJPHS HZZ\TW[PVUZ L_WLYPLUJL ]HYPHUJL P L (J[\HS L_WLYPLUJL ]Z HZZ\TW[PVUZ )LULÄ[Z 7HPK (JX\PZP[PVU (KQ\Z[TLU[

Total

2,399.25

2,610.71

Fair Value of Plan Assets ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

Opening Balance Investment Income ,TWSV`LY Z JVU[YPI\[PVU )LULÄ[Z 7HPK 9L[\YU VU WSHU HZZL[Z L_JS\KPUN HTV\U[ YLJVNUPZLK PU UL[ PU[LYLZ[ L_WLUZLZ (JX\PZP[PVU HKQ\Z[TLU[

-

Total

1,852.69

1,942.38

ANNUAL REPORT 2016-17 129

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 The major categories of plan assets of the fair value of the total plan assets are as follows: Particulars

+LÄULK .YH[\P[` 7SHU March 31, 2017

March 31, 2016

0U]LZ[TLU[ PU -\UKZ THUHNLK I` [OL PUZ\YLY

;OL WYPUJPWHS HZZ\TW[PVUZ \ZLK PU KL[LYTPUPUN NYH[\P[` VISPNH[PVU MVY [OL *VTWHU`»Z WSHUZ HYL ZOV^U ILSV^! Particulars

March 31, 2017

March 31, 2016

+PZJV\U[ 9H[L :HSHY` .YV^[O 9H[L >P[OKYH^HS 9H[L <W [V `LHYZ 31 - 44 years Above 44 years

( X\HU[P[H[P]L ZLUZP[P]P[` HUHS`ZPZ MVY ZPNUPÄJHU[ HZZ\TW[PVU PZ HZ ZOV^U ILSV^!

Defined gratuity plan: ` PU 3HJZ Particulars

March 31, 2017

+LÄULK )LULÄ[ 6ISPNH[PVU )HZL

March 31, 2016

Impact on defined benefit obligation ` PU 3HJZ Particulars Assumptions

March 31, 2017 Decrease

+PZJV\U[ 9H[L :HSHY` .YV^[O 9H[L >P[OKYH^HS 9H[L

March 31, 2016 Increase

Decrease

Increase

The sensitivity analysis above has been determined based on reasonably possible changes of the assumptions occurring H[ [OL LUK VM [OL YLWVY[PUN WLYPVK ^OPSL OVSKPUN HSS V[OLY HZZ\TW[PVUZ JVUZ[HU[ ;OL MVSSV^PUN WH`TLU[Z HYL TH[\YP[` WYVÄSL VM +LÄULK )LULÄ[ 6ISPNH[PVUZ PU M\[\YL `LHYZ! ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

>P[OPU [OL UL_[ TVU[OZ UL_[ HUU\HS YLWVY[PUN WLYPVK )L[^LLU HUK `LHYZ )L[^LLU HUK `LHYZ )L`VUK `LHYZ

Total expected payments

5,091.52

5,760.23

130 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Average duration of the defined benefit plan obligation ` PU 3HJZ Particulars 9HUNL VM K\YH[PVU

March 31, 2017

March 31, 2016

`LHYZ `LHYZ `LHYZ `LHYZ

+LÄULK *VU[YPI\[PVU 7SHU ` PU 3HJZ Particulars Contribution to Provident and Other funds *OHYNLK [V :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

March 31, 2017

March 31, 2016

Leave Encashment (unfunded) ;OL *VTWHU` YLJVNUPZLZ [OL SLH]L LUJHZOTLU[ L_WLUZLZ PU [OL :[H[LTLU[ VM 7YVÄ[ 3VZZ IHZLK VU HJ[\HYPHS ]HS\H[PVU ;OL L_WLUZLZ YLJVNUPZLK PU [OL :[H[LTLU[ VM 7YVÄ[ 3VZZ HUK [OL 3LH]L LUJHZOTLU[ SPHIPSP[` H[ [OL ILNPUUPUN HUK H[ the end of the year : ` PU 3HJZ Particulars Liability at the beginning of the year )LULÄ[Z WHPK K\YPUN [OL `LHY (JX\PZP[PVU (KQ\Z[TLU[ K\YPUN [OL `LHY Provided during the year Liability at the end of the year

March 31, 2017

March 31, 2016

34. SHARE-BASED PAYMENTS 0 U HJJVYKHUJL ^P[O [OL :LJ\YP[PLZ HUK ,_JOHUNL )VHYK VM 0UKPH :OHYL )HZLK ,TWSV`LL ILULÄ[Z 9LN\SH[PVUZ HUK 0UK (: :OHYL IHZLK WH`TLU[ [OL ZJOLTL KL[HPSLK ILSV^ PZ THUHNLK HUK HKTPUPZ[LYLK JVTWLUZH[PVU ILULÄ[Z PU YLZWLJ[ VM [OL ZJOLTL PZ HZZLZZLK HUK HJJV\U[LK I` [OL *VTWHU` ;V OH]L HU \UKLYZ[HUKPUN VM [OL ZJOLTL YLSL]HU[ disclosures are given below. I.

(Z HWWYV]LK I` [OL ZOHYLOVSKLYZ H[ [OLPY ,_[YH VYKPUHY` .LULYHS 4LL[PUN OLSK VU 6J[VILY K\YPUN HU LHYSPLY `LHY [OL *VTWHU` OHZ NP]LU PU[LYLZ[ MYLL SVHU VM ` SHJZ [V /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ ^OPJO PU [\YU W\YJOHZLK ,X\P[` :OHYLZ VM ` LHJO VM /; 4LKPH 3PTP[LK HZ VU KH[L LX\P]HSLU[ [V ,X\P[` Shares of ` LHJO MYVT [OL VWLU THYRL[ BH]LYHNL JVZ[ WLY ZOHYL ¶ ` IHZLK VU ,X\P[` :OHYL VM ` LHJOD MVY [OL W\YWVZL VM NYHU[PUN 6W[PVUZ \UKLY [OL º/;43 ,TWSV`LL :[VJR 6W[PVU :JOLTL» [OL :JOLTL [V LSPNPISL employees.

+\YPUN [OL ÄUHUJPHS `LHY [OL :JOLTL ^HZ TVKPÄLK [V [OL LMMLJ[ ¶ H 6W[PVUZ NYHU[LK ^ L M :LW[LTILY ZOHSS ]LZ[ HZ WLY WYL]PV\Z YL]PZLK ZJOLK\SL VM ]LZ[PUN WLYPVK" HUK I [V L_[LUK [OL JV]LYHNL VM [OL :JOLTL [V the eligible full-time employees of the subsidiary companies. The Options granted under the Scheme shall vest as per the Schedules of vesting period which are hereinafter YLMLYYLK [V HZ º7SHU (» º7SHU )» HWWSPJHISL [V 6W[PVUZ NYHU[LK ^ L M :LW[LTILY HUK 7SHU * HWWSPJHISL [V 6W[PVUZ NYHU[LK ^ L M 6J[VILY 6W[PVUZ NYHU[LK \UKLY IV[O [OL WSHUZ HYL L_LYJPZHISL MVY H WLYPVK VM years after the scheduled vesting date of the last tranche of the Options as per the Scheme.

ANNUAL REPORT 2016-17 131

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 The relevant details of the Scheme are as under.

+H[LZ VM .YHU[ +H[L VM )VHYK HWWYV]HS +H[L VM :OHYLOVSKLY»Z HWWYV]HS Number of options granted Method of Settlement =LZ[PUN 7LYPVK ZLL [HISL ILSV^ -HPY =HS\L VU [OL KH[L VM .YHU[ 0U ` ,_LYJPZL 7LYPVK =LZ[PUN *VUKP[PVUZ

Plan A

Plan B

Plan C

1HU\HY` +LJLTILY 1HU\HY` :LW[LTILY 6J[VILY

:LW[LTILY 4H` 4H` 6J[VILY 5V]LTILY

,X\P[` [V TVU[OZ

,X\P[` [V TVU[OZ

6J[VILY :LW[LTILY 6J[VILY ,X\P[` [V TVU[OZ

`LHYZ HM[LY [OL ZJOLK\SLK ]LZ[PUN KH[L VM [OL SHZ[ [YHUJOL VM [OL 6W[PVUZ HZ WLY [OL :JOLTL ,TWSV`LL YLTHPUPUN PU [OL LTWSV`TLU[ VM [OL *VTWHU` K\YPUN the vesting period

(KQ\Z[LK MVY MHJL ]HS\L VM ` HM[LY Z[VJR ZWSP[

5V[L! (WWYV]HSZ VI[HPULK MYVT [OL )VHYK VM +PYLJ[VYZ HUK :OHYLOVSKLY»Z VM [OL *VTWHU` MVY [OL º7SHU )» ^LYL ^P[O YL[YVZWLJ[P]L LMMLJ[ MYVT :LW[LTILY Details of the vesting period are: Vesting Schedule

Vesting Period from the Grant date

Plan A

Plan B

6U JVTWSL[PVU VM TVU[OZ 6U JVTWSL[PVU VM TVU[OZ 6U JVTWSL[PVU VM TVU[OZ On completion of 48 months

Plan C

-

;OL KL[HPSZ VM HJ[P]P[` \UKLY 7SHU ( 7SHU ) LMMLJ[P]L MYVT :LW[LTILY HUK 7SHU * VM [OL :JOLTL OH]L ILLU summarized below:Plan A Particulars

Outstanding at the beginning of the year .YHU[LK K\YPUN [OL `LHY -VYMLP[LK K\YPUN [OL `LHY ,_LYJPZLK K\YPUN [OL `LHY ,_WPYLK K\YPUN [OL `LHY Outstanding at the end of the period ,_LYJPZHISL H[ [OL LUK VM [OL WLYPVK >LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ Weighted average fair value of options granted during the year

132 HT MEDIA LIMITED

March 31, 2017

March 31, 2016

Number of Weighted Average options Exercise Price (`)

NA

Number of Weighted Average options Exercise Price (`)

NA

A

01-15

B

About HT Media

16-58

59-290

C

Statutory Reports

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Plan B March 31, 2017

Particulars

March 31, 2016

Number of Weighted Average options Exercise Price (`)

Outstanding at the beginning of the year .YHU[LK K\YPUN [OL WLYPVK -VYMLP[LK K\YPUN [OL WLYPVK ,_LYJPZLK K\YPUN [OL WLYPVK ,_WPYLK K\YPUN [OL WLYPVK Outstanding at the end of the period ,_LYJPZHISL H[ [OL LUK VM [OL WLYPVK >LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ Weighted average fair value of options granted during the year

Number of Weighted Average options Exercise Price (`)

NA

NA

March 31, 2017

March 31, 2016

Plan C Particulars

Number of Weighted Average options Exercise Price (`)

Outstanding at the beginning of the year .YHU[LK K\YPUN [OL WLYPVK -VYMLP[LK K\YPUN [OL WLYPVK ,_LYJPZLK K\YPUN [OL WLYPVK ,_WPYLK K\YPUN [OL WLYPVK Outstanding at the end of the period ,_LYJPZHISL H[ [OL LUK VM [OL WLYPVK >LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ Weighted average fair value of options granted during the year

Number of Weighted Average options Exercise Price (`)

NA

NA

;OL KL[HPSZ VM L_LYJPZL WYPJL MVY Z[VJR VW[PVUZ V\[Z[HUKPUN H[ [OL LUK VM [OL `LHY LUKLK 4HYJO HYL!

Range of exercise prices Plan A ` ` Plan B ` ` Plan C `

Number of options outstanding

Weighted average remaining contractual life of options (in years)

Weighted average exercise price (`)

;OL KL[HPSZ VM L_LYJPZL WYPJL MVY Z[VJR VW[PVUZ V\[Z[HUKPUN H[ [OL LUK VM [OL WYL]PV\Z `LHY LUKLK 4HYJO HYL!

Range of exercise prices Plan A ` [V ` Plan B ` [V ` Plan C `

Number of options outstanding

Weighted average remaining contractual life of options (in years)

Weighted average exercise price (`)

ANNUAL REPORT 2016-17 133

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ;OL *VTWHU` OHZ H]HPSLK L_LTW[PVU \UKLY 0UK (: PU YLZWLJ[ VM :OHYL IHZLK WH`TLU[Z [OH[ OHK ILLU ]LZ[LK ILMVYL [OL [YHUZP[PVU KH[L ;OL *VTWHU` OHZ LSLJ[LK [V H]HPS [OPZ L_LTW[PVU HUK HJJVYKPUNS` ]LZ[LK VW[PVUZ OH]L ILLU measured at intrinsic value . ;OL LTWSV`LL JVTWLUZH[PVU JVZ[ HJJV\U[PUN JOHYNL MVY [OL `LHY JHSJ\SH[LK \ZPUN [OL PU[YPUZPJ ]HS\L VM Z[VJR VW[PVUZ PZ ` 503 4HYJO ! ` 503 00 ;OL Z\IZPKPHY` JVTWHU` -PYLÃ…` L =LU[\YLZ 3PTP[LK OHZ NP]LU ,TWSV`LL :[VJR 6W[PVUZ ,:67Z [V LTWSV`LLZ of HT Media Limited (HTML). A.

Details of these plans are given below:

Employee Stock Options ( Z[VJR VW[PVU NP]LZ HU LTWSV`LL [OL YPNO[ [V W\YJOHZL LX\P[` ZOHYLZ VM -PYLÅ` L =LU[\YLZ 3PTP[LK H[ H Ä_LK WYPJL ^P[OPU H ZWLJPÄJ WLYPVK VM [PTL B.

Details of stock options granted during the current year and earlier year are as given below: Date of grant

Type of arrangement

Options granted (nos.)

Fair value on the grant date (`)

Vesting conditions*

Weighted average remaining contractual life in years as at March 31, 2017 (in years)

Starts from the date of listing of -PYLÃ…` L =LU[\YLZ 3PTP[LK HZ WLY the following vesting schedule ,TWSV`LL :[VJR Options-Plan B

+LJLTILY

6U [OL KH[L VM NYHU[ TVU[OZ MYVT [OL KH[L of grant

-

TVU[OZ MYVT [OL KH[L of grant TVU[OZ MYVT [OL KH[L of grant Starts from the date of listing of -PYLÃ…` L =LU[\YLZ 3PTP[LK HZ WLY the following vesting schedule TVU[OZ MYVT [OL KH[L of grant ,TWSV`LL :[VJR Options-Plan A

(WYPS

TVU[OZ MYVT [OL KH[L of grant TVU[OZ MYVT [OL KH[L of grant TVU[OZ MYVT [OL KH[L of grant

134 HT MEDIA LIMITED

A

01-15

B

About HT Media

16-58

C

Statutory Reports

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Starts from the date of listing of -PYLÃ…` L =LU[\YLZ 3PTP[LK HZ WLY the following vesting schedule TVU[OZ MYVT [OL KH[L of grant ,TWSV`LL :[VJR Options-Plan A

6J[VILY

TVU[OZ MYVT [OL KH[L of grant

TVU[OZ MYVT [OL KH[L of grant TVU[OZ MYVT [OL KH[L of grant

C.

Summary of activity under the Plan A for the year ended March 31, 2017 and March 31, 2016 are given below. March 31, 2017

March 31, 2016

Number of Weighted Average options Exercise Price (`) Outstanding at the beginning of the year .YHU[LK K\YPUN [OL `LHY -VYMLP[LK K\YPUN [OL `LHY ,_LYJPZLK K\YPUN [OL `LHY ,_WPYLK K\YPUN [OL `LHY Outstanding at the end of the year >LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ Weighted average fair value of options granted during the year

Number of Weighted Average options Exercise Price (`)

-

-

Weighted average fair value of the options outstanding of Plan A is ` 7YL]PV\Z `LHY ` WLY VW[PVU D.

Summary of activity under the Plan B for the year ended March 31, 2017 and March 31, 2016 are given below. March 31, 2017

March 31, 2016

Number of Weighted Average options Exercise Price (`) Outstanding at the beginning of the year .YHU[LK K\YPUN [OL `LHY -VYMLP[LK K\YPUN [OL `LHY ,_LYJPZLK K\YPUN [OL `LHY ,_WPYLK K\YPUN [OL `LHY Outstanding at the end of the year >LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ Weighted average fair value of options granted during the year

-

-

Number of Weighted Average options Exercise Price (`)

-

Weighted average fair value of the options outstanding of Plan B in previous year was ` WLY VW[PVU ;OL *VTWHU` OHZ H]HPSLK L_LTW[PVU \UKLY 0UK (: PU YLZWLJ[ VM :OHYL IHZLK WH`TLU[Z [OH[ OHK ILLU ]LZ[LK ILMVYL [OL [YHUZP[PVU KH[L ;OL *VTWHU` OHZ LSLJ[LK [V H]HPS [OPZ L_LTW[PVU HUK HJJVYKPUNS` ]LZ[LK VW[PVUZ OH]L ILLU measured at intrinsic value . ;OL LTWSV`LL JVTWLUZH[PVU JVZ[ HJJV\U[PUN JOHYNL MVY [OL `LHY JHSJ\SH[LK \ZPUN [OL PU[YPUZPJ ]HS\L VM Z[VJR VW[PVUZ PZ ` 503 4HYJO ! ` 503

ANNUAL REPORT 2016-17 135

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 III.

HT Media Limited has given loan of ` SHJZ [V ¸/; .YV\W *VTWHUPLZ ¶ ,TWSV`LL :[VJR 6W[PVU ;Y\Z[¹ ^OPJO PU [\YU OHZ W\YJOHZLK ,X\P[` :OHYLZ VM ` LHJO VM /PUK\Z[HU 4LKPH =LU[\YL 3PTP[LK /4=3 ¶ :\IZPKPHY` *VTWHU` VM /; 4LKPH 3PTP[LK MVY [OL W\YWVZL VM NYHU[PUN 6W[PVUZ \UKLY [OL º/; .YV\W *VTWHUPLZ ¶,TWSV`LL :[VJR 6W[PVU :JOLTL» [OL :JOLTL [V LSPNPISL LTWSV`LLZ VM [OL NYV\W 6U [OLZL W\YJOHZLK ZOHYLZ [OL [Y\Z[ OHZ HSZV YLJLP]LK ZOHYLZ V\[ VM [OL IVU\Z ZOHYLZ PZZ\LK I` [OL /4=3 VU -LIY\HY`

Details of these plans are given below: Employee Stock Options ( Z[VJR VW[PVU NP]LZ HU LTWSV`LL [OL YPNO[ [V W\YJOHZL LX\P[` ZOHYLZ VM /4=3 H[ H Ä_LK WYPJL ^P[OPU H ZWLJPÄJ WLYPVK VM [PTL A.

Details of Options granted as on March 31, 2017 are given below:

Date of grant

Options granted (nos.)

Fair value on the grant date (`)

Vesting conditions

,TWSV`LL :[VJR 6W[PVUZ

September

1/4 of the shares vest each year over a period of four years starting from one year after the date of grant

,TWSV`LL :[VJR 6W[PVUZ

4H`

1/4 of the shares vest each year over a period of four years starting from one year after the date of grant

,TWSV`LL :[VJR 6W[PVUZ

-LIY\HY`

VU [OL KH[L VM NYHU[ HUK ]LZ[ LHJO `LHY V]LY H WLYPVK VM `LHYZ starting from the date of grant

,TWSV`LL :[VJR 6W[PVUZ

4HYJO

1/4 of the shares vest each year over a period of four years starting from one year after the date of grant

,TWSV`LL :[VJR 6W[PVUZ

(WYPS

1/4 of the shares vest each year over a period of four years starting from one year after the date of grant

Type of arrangement

B.

Weighted average remaining contractual life (in years)

Summary of activity under the plans for the period ended March 31, 2017 and March 31, 2016 are given below. March 31, 2017 Number of options

Outstanding at the beginning of the year

136 HT MEDIA LIMITED

Weighted Weighted-average remaining Average contractual Exercise life (in years) Price (`)

Number of options

Weighted Weighted-average remaining Average contractual Exercise life (in years) Price (`)

-

-

-

-

-

-

-

.YHU[LK K\YPUN [OL `LHY -VYMLP[LK *HUJLSSLK K\YPUN the year ,_LYJPZLK K\YPUN [OL `LHY ,_WPYLK K\YPUN [OL `LHY Outstanding at the end of the year

March 31, 2016

01-15

A

16-58

B

About HT Media

C

Statutory Reports

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 C.

The details of exercise price for stock options outstanding at the end of the current year ended March 31, 2017 are: Range of exercise prices

Year

Number of options outstanding

Weighted average remaining contractual life of options (in years)

` [V ` ` [V `

Weighted average exercise price (`)

6W[PVUZ NYHU[LK HYL L_LYJPZHISL MVY H WLYPVK VM `LHYZ HM[LY [OL ZJOLK\SLK ]LZ[PUN KH[L VM SHZ[ [YHUJOL HZ WLY [OL :JOLTL Weighted average fair value of the options outstanding is ` 7YL]PV\Z `LHY ` WLY VW[PVU

;OL *VTWHU` OHZ H]HPSLK L_LTW[PVU \UKLY 0UK (: PU YLZWLJ[ VM :OHYL IHZLK WH`TLU[Z [OH[ OHK ILLU ]LZ[LK ILMVYL [OL [YHUZP[PVU KH[L ;OL *VTWHU` OHZ LSLJ[LK [V H]HPS [OPZ L_LTW[PVU HUK HJJVYKPUNS` ]LZ[LK VW[PVUZ OH]L ILLU measured at intrinsic value. ;OL LTWSV`LL JVTWLUZH[PVU JVZ[ HJJV\U[PUN JOHYNL MVY [OL `LHY JHSJ\SH[LK \ZPUN [OL PU[YPUZPJ ]HS\L VM Z[VJR VW[PVUZ PZ ` 503 4HYJO ! ` 503 IV.

The subsidiary company, HT Mobile Solution Limited has given Employee Stock Options (ESOPs) to employees of HT Media Limited (HTML).

Details of these plans are given below: Employee Stock Options ( :[VJR VW[PVU NP]LZ HU LTWSV`LL [OL YPNO[ [V W\YJOHZL LX\P[` ZOHYLZ VM /; 4VIPSL :VS\[PVU 3PTP[LK H[ H Ä_LK WYPJL ^P[OPU H ZWLJPÄJ WLYPVK VM [PTL B.

Details of stock options granted during the current year and earlier year are as given below:

Type of arrangement

,TWSV`LL :[VJR 6W[PVUZ

C.

Date of grant

November

Options granted (nos.)

Weighted average remaining contractual life in years as at March 31, 2017 (`)

Fair value on the grant date (`)

Vesting conditions

:[HY[Z MYVT [OL KH[L VM SPZ[PUN VM -PYLÃ…` L =LU[\YLZ 3PTP[LK HZ WLY [OL MVSSV^PUN vesting schedule 6U [OL KH[L VM NYHU[ TVU[OZ MYVT [OL KH[L VM NYHU[ TVU[OZ MYVT [OL KH[L VM NYHU[

Summary of activity under the Plan for the year ended March 31, 2017 and March 31, 2016 are given below. March 31, 2017

March 31, 2016

Number of Weighted Average options Exercise Price (`) Outstanding at the beginning of the year .YHU[LK K\YPUN [OL `LHY -VYMLP[LK K\YPUN [OL `LHY ,_LYJPZLK K\YPUN [OL `LHY ,_WPYLK K\YPUN [OL `LHY Outstanding at the end of the year >LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ Weighted average fair value of options granted during the year

-

-

Number of Weighted Average options Exercise Price (`)

-

-

Weighted average fair value of the options outstanding is ` 5PS 7YL]PV\Z `LHY ` WLY VW[PVU ANNUAL REPORT 2016-17 137

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 35. COMMITMENTS AND CONTINGENCIES (a) Leases Operating lease commitments - Company as lessee ;OL *VTWHU` OHZ [HRLU ]HYPV\Z YLZPKLU[PHS VMÄJL HUK NVKV^U WYLTPZLZ \UKLY VWLYH[PUN SLHZL HNYLLTLU[Z ;OLZL are generally cancellable leases and are renewable by mutual consent on mutually agreed terms with or without rental escalations. ;OL *VTWHU` OHZ WHPK ` SHJZ 4HYJO ! ` SHJZ K\YPUN [OL `LHY [V^HYKZ TPUPT\T SLHZL WH`TLU[ HUK OHZ ILLU KPZJSVZLK HZ 9LU[ \UKLY 5V[L -\[\YL TPUPT\T YLU[HSZ WH`HISL \UKLY UVU JHUJLSSHISL VWLYH[PUN SLHZLZ HYL HZ MVSSV^Z! ` PU 3HJZ Particulars Within one year (M[LY VUL `LHY I\[ UV[ TVYL [OHU Ä]L `LHYZ 4VYL [OHU Ä]L `LHYZ

March 31, 2017

March 31, 2016

April 1, 2015

Operating lease commitments - Company as lessor ;OL *VTWHU` OHZ LU[LYLK PU[V VWLHYH[PUN SLHZLZ VU P[Z PU]LZ[TLU[ WYVWLY[` ;OLZL HYL NLULYHSS` JHUJLSSHISL SLHZLZ HUK are renewable by mutual consent on mutually agreed terms with or without rental escalations. Finance Lease- Company as lessor ;OL *VTWHU` OHZ LU[LYLK PU[V H ÄUHUJL SLHZL HYYHUNLTLU[ ^P[O P[Z /VSKPUN *VTWHU` -\[\YL TPUPT\T SLHZL YLJLP]HISLZ \UKLY ÄUHUJL SLHZL [VNL[OLY ^P[O [OL WYLZLU[ ]HS\L VM [OL TPUPT\T SLHZL YLJLP]HISLZ HYL HZ MVSSV^Z! Particulars

March 31, 2017 Minimum lease receivables Present value of lease receivables

Within one year

After one year but not more [OHU Ä]L `LHYZ

4VYL [OHU Ä]L years

March 31, 2016 Minimum lease receivables Present value of lease receivables

-

-

-

April 1, 2015 Minimum lease receivables Present value of lease receivables

-

-

-

(b) Commitments ` PU 3HJZ Particulars A. Capital Commitments ,Z[PTH[LK HTV\U[ VM JVU[YHJ[Z YLTHPUPUN [V IL L_LJ\[LK VU JHWP[HS HJJV\U[ HUK UV[ WYV]PKLK MVY UL[ VM JHWP[HS HK]HUJLZ

138 HT MEDIA LIMITED

March 31, 2017

March 31, 2016

April 1, 2015

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 B.

Other Commitments

Commitment under EPCG Scheme ;OL *VTWHU` OHZ VI[HPULK SPJLUZLZ \UKLY [OL ,_WVY[ 7YVTV[PVU *HWP[HS .VVKZ º,7*.» :JOLTL MVY PTWVY[PUN capital goods at a concessional rate of customs duty HNHPUZ[ Z\ITPZZPVU VM IVUKZ PU :LW[LTILY <UKLY [OL [LYTZ VM [OL YLZWLJ[P]L ZJOLTL [OL *VTWHU` PZ YLX\PYLK [V L_WVY[ NVVKZ VY HUK ZLY]PJLZ VM -6) ]HS\L LX\P]HSLU[ [V LPNO[ [PTLZ [OL K\[` ZH]LK PU YLZWLJ[ VM licenses within eight years from the date of issuance of license. (JJVYKPUNS` [OL *VTWHU` PZ YLX\PYLK [V L_WVY[ NVVKZ HUK ZLY]PJLZ VM -6) ]HS\L VM ` SHJZ I` :LW[LTILY ;OL IHSHUJL L_WVY[ VISPNH[PVU SLM[ HZ VU 4HYJO PZ ` SHJZ 4HYJO ` SHJZ (WYPS ` SHJZ ;OL THUHNLTLU[ PZ JVUÄKLU[ VM M\SÄSSPUN [OL ZHPK JVTTP[TLU[ ^P[OPU [OL Z[PW\SH[LK [PTL VY extended time as allowed. Commitment to invest in specific funds (Z VU 4HYJO [OL *VTWHU` OHZ PU]LZ[LK PU º;HUKLT 000 37» º)S\TL =LU[\YLZ -\UK 0(» º;YPMLJ[H =LU[\YL +LI[ -\UK 0» HUK º7HYHNVU 7HY[ULYZ .YV^[O -\UK 0» <:+ SHJZ ` SHJZ ` SHJZ HUK ` 3HJZ YLZWLJ[P]LS` <UKLY [OL [LYTZ VM [OL YLZWLJ[P]L HNYLLTLU[Z HZ VU 4HYJO [OL JVTWHU` PZ YLX\PYLK [V M\Y[OLY PU]LZ[ <:+ SHJZ 4HYJO ! <:+ SHJZ (WYPS ! <:+ 3HJZ ` 5PS 4HYJO ! ` SHJZ (WYPS ! ` SHJZ ` 3HJZ 4HYJO ! ` SHJZ (WYPS ! 5PS HUK ` 3HJZ 4HYJO ! 5PS (WYPS ! 5PS PU º;HUKLT 000 37» º)S\TL =LU[\YLZ -\UK 0(» º;YPMLJ[H =LU[\YL +LI[ -\UK 0» HUK º7HYHNVU 7HY[ULYZ .YV^[O -\UK 0» respectively.

(c) Contingent Liabilities Claims against the Company not acknowledged as debts Legal claim contingency P

0UJVTL [H_ H\[OVYP[PLZ OH]L YHPZLK HKKP[PVUHS demands for ` SHJZ 4HYJO ` SHJZ (WYPS ` SHJZ MVY ]HYPV\Z ÄUHUJPHS years. The tax demands are mainly on account of KPZHSSV^HUJLZ VM L_WLUZLZ JSHPTLK I` [OL *VTWHU` under the Income Tax Act. The matters are pending ILMVYL ]HYPV\Z H\[OVYP[PLZ ;OL *VTWHU` PZ JVU[LZ[PUN the demands and the management believes that its position will likely to be upheld. No tax expenses have

ILLU HJJY\LK PU [OL ÄUHUJPHS Z[H[LTLU[Z MVY [OLZL [H_ demands. PP :LY]PJL [H_ H\[OVYP[PLZ OH]L YHPZLK HKKP[PVUHS KLTHUKZ for ` SHJZ 4HYJO ` SHJZ (WYPS ` SHJZ MVY ]HYPV\Z ÄUHUJPHS `LHYZ The matters are pending before Service Tax Appelate ;YPI\UHS ;OL *VTWHU` PZ JVU[LZ[PUN [OL KLTHUKZ HUK the management believes that its position will likely to be upheld. No tax expenses have been accrued in the ÄUHUJPHS Z[H[LTLU[Z MVY [OLZL [H_ KLTHUKZ PPP +\YPUN [OL `LHY LUKLK 4HYJO [OL *VTWHU` HJX\PYLK [OL WYPU[PUN \UKLY[HRPUN H[ 5L^ +LSOP MYVT [OL /PUK\Z[HU ;PTLZ 3PTP[LK /;3 ,_ ^VYRTLU of HTL challenged the transfer of business by way VM H ^YP[ PU /VUVYHISL +LSOP /PNO *V\Y[ ^OPJO ^HZ X\HZOLK VU 4H` ;OLYLHM[LY [OLZL ^VYRTLU raised the industrial dispute before various forums SPRL +LSOP .V]LYUTLU[ 0UK\Z[YPHS ;YPI\UHS 0 5L^ +LSOP ;YPI\UHS HUK +LSOP /PNO *V\Y[ The case was decided by way of award by Industrial ;YPI\UHS VU 1HU\HY` ^OLYLPU [OL ^VYRTLU ^LYL NYHU[LK ¸YLSPLM VM [YLH[PUN [OLT PU JVU[PU\P[` VM services under terms and conditions of service as ILMVYL [OLPY HSSLNLK [LYTPUH[PVU ^ L M 6J[VILY (Z WLY [OL H^HYK [OL` ^PSS UV[ IL LU[P[SLK [V HU` UV[PJL WH` VY JVTWLUZH[PVU \ Z -- VM 0UK\Z[YPHS +PZW\[L (J[ ;OL ZHPK UV[PJL WH` VY JVTWLUZH[PVU PM HU` YLJLP]LK I` [OLT ^PSS OH]L [V IL YLM\UKLK [V [OL *VTWHU` The said award after publication came into operation w.e.f. (WYPS ;OL 4HUHNLTLU[ PZZ\LK ZL]LYHS SL[[LY Z [V the workmen followed by the public notice asking them to refund the notice pay and retrenchment compensation ZV YLJLP]LK HZ KPYLJ[LK I` 0UK\Z[YPHS ;YPI\UHS OV^L]LY there was no response from the workman. ;OL ^VYRTHU HSZV ÄSLK [OL ,_LJ\[PVU 7YVJLLKPUN MVY )HJR ^HNLZ VU (WYPS ,_LJ\[PVU *V\Y[ ]PKL P[Z VYKLY KH[LK 6J[VILY OLSK [OH[ ¸5V )HJR >HNLZ¹ OH]L ILLU NYHU[LK HUK KLJYLL PU YLSH[PVU [OLYL[V JHUUV[ IL L_LJ\[LK¹ ;OL ,_LJ\[PVU *V\Y[ ]PKL P[Z VYKLY KH[LK 1HU\HY` KPYLJ[LK the management to reinstate the workman without insisting for refund of notice pay and retrenchment JVTWLUZH[PVU ;OL ZHPK VYKLY VM [OL 3K ,_LJ\[PVU *V\Y[ was challenged and pending decision before High *V\Y[ VM +LSOP (Z /;3 OHZ UV MHJ[VY` [OL THUHNLTLU[ has offered a notional reinstatement w.e.f. April

ANNUAL REPORT 2016-17 139

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 HUK ZHSHY` MYVT (WYPS ;OL 7L[P[PVULY PUMVYTLK [OL /PNO *V\Y[ VM +LSOP PU :LW[LTILY that since the management is currently engaged in real LZ[H[L THUHNLTLU[ HUK PU]LZ[TLU[ P[ JHU NP]L MYLZO UVU PUK\Z[YPHS ^VYR [V H TH_PT\T VM [OPY[` LPNO[ workmen based on seniority. It was also submitted [OH[ [OL WL[P[PVULY *VTWHU` OHZ UV ^VYR [V VMMLY except as stated above and will accordingly exercise its rights and remedies as available under the Industrial +PZW\[LZ (J[ X\H [OL YLTHPUPUN ^VYRTLU 0U [LYTZ VM P[Z Z\ITPZZPVUZ [OL THUHNLTLU[ PZZ\LK SL[[LY VM WVZ[PUN [V ^VYRTLU VU +LJLTILY HUK WHPK JVTWLUZH[PVU \UKLY :LJ[PVU --- VM [OL 0UK\Z[YPHS +PZW\[L (J[ [V YLTHPUPUN ^VYRTLU on account of closure of printing undertaking/factory SVUN IHJR -PUHS HYN\TLU[Z ^LYL JVUJS\KLK HUK [OL 1\KNTLU[ ^HZ KLSP]LYLK I` :PUNSL )LUJO VM +LSOP /PNO *V\Y[ VU :LW[LTILY ^OLYLPU *V\Y[ OHK YLSPLK VU [OL 1\KNTLU[ VM +P]PZPVU )LUJO HUK OLSK [OH[ [OL parties will be at liberty to pursue the logical corollary. ;OL WYVJLLKPUNZ ILMVYL [OL ,_LJ\[PVU *V\Y[ YL Z[HY[LK HM[LY Q\KNTLU[ VM :PUNSL )LUJO VM +LSOP /PNO *V\Y[ ;OL ,_LJ\[PVU *V\Y[ HM[LY OLHYPUN IV[O [OL WHY[PLZ WHZZLK [OL VYKLY KPYLJ[PUN [OL *VTWHU` [V YLPUZ[H[L [OL ^VYRTLU HZ WLY [OL H^HYK KH[LK 1HU\HY` HZ LHYSPLY reinstatement was not in accordance with Award and also directed management to make payment of wages accordingly. The Management has challenged the ZHPK VYKLY VM ,_LJ\[PVU *V\Y[ ILMVYL ZPUNSL ILUJO VM /VU»ISL /PNO *V\Y[ ^OLYLPU [OL WSLHKPUNZ HYL JVTWSL[L HUK TH[[LY PZ SPZ[LK MVY ÄUHS HYN\TLU[Z 0U [OL TLHU [PTL [OL ^VYRTLU ÄSLK HU HWWSPJH[PVU MVY YLSPLM VM PU[LYPT ^HNLZ \UKLY :LJ[PVU ) VM [OL 0UK\Z[YPHS +PZW\[LZ (J[ PU [OL ZHTL ^YP[ WL[P[PVU VM THUHNLTLU[ ;OL 3K :PUNSL 1\KNL HSSV^LK [OL ZHPK HWWSPJH[PVU ]PKL P[Z VYKLY KH[LK 4HYJO HUK directed the management to pay last drawn monthly ^HNLZ ^ L M 4HYJO ;OL ZHPK VYKLY VM [OL single bench is challenged by the management in 37( ILMVYL +P]PZPVU )LUJO VM +LSOP /PNO *V\Y[ ^OLYLPU [OL +P]PZPVU )LUJO OHZ Z[H`LK [OL PTW\NULK VYKLY KH[LK 4HYJO [V [OL L_[LU[ of the direction for payment of monthly wages [V [OL YLZWVUKLU[Z ;OL /VU»ISL +P]PZPVU )LUJO OHZ KPZWVZLK VM [OL 37( VU and granted Hindustan Times Ltd. an opportunity

140 HT MEDIA LIMITED

[V ÄSL YLWS` [V [OL HWWSPJH[PVU \UKLY :LJ[PVU ) ILMVYL ZPUNSL ILUJO VM /VU»ISL /PNO *V\Y[ After the Petition of management challenging the VYKLY VM ,_LJ\[PVU *V\Y[ KH[LK 1HU\HY` [OL ^VYRTLU HSZV ÄSLK >YP[ 7L[P[PVU HNHPUZ[ [OL VYKLY VM 3K ,_LJ\[PVU *V\Y[ KH[LK 6J[VILY KLU`PUN [OLT IHJR ^HNLZ ;OL :PUNSL )LUJO VM +LSOP /PNO *V\Y[ WYVUV\UJLK [OL Q\KNTLU[ VU 5V]LTILY PU MH]V\Y VM [OL ^VYRTLU [OH[ )HJR ^HNL HYL payable to them. The management challenged the ZHPK VYKLY ILMVYL +P]PZPVU )LUJO VM +LSOP /PNO *V\Y[ ^OPJO WYVUV\UJLK [OL Q\KNTLU[ VU -LIY\HY` wherein it held that no back wages are granted to the ^VYRTLU ]PKL H^HYK KH[LK 1HU\HY` ;OL ^VYRTLU HWWYVHJOLK [OL /VU»ISL :\WYLTL *V\Y[ HNHPUZ[ [OL ZHPK VYKLY VM +P]PZPVU )LUJO ;OL ZHPK :37 ÄSLK I` [OL ^VYRTLU HNHPUZ[ [OL Q\KNLTLU[ VM +P]PZPVU )LUJO VM +LSOP /PNO *V\Y[ ^HZ KPZTPZZLK I` /VU»ISL :\WYLTL *V\Y[ ]PKL VYKLY KH[LK (\N\Z[ HMÄYTPUN [OL ]PL^Z [OH[ UV IHJR ^HNLZ HYL ILPUN NYHU[LK PU [OL H^HYK KH[LK 1HU\HY` :VTL V[OLY ^VYRTLU ÄSLK HUV[OLY :37 * 5V JOHSSLUNPUN [OL ZHTL VYKLY VM +P]PZPVU )LUJO +LSOP /PNO *V\Y[ ]PY[\HSS` VU ZHTL NYV\UKZ ^OPJO PZ WLUKPUN for hearing though there is a likely hood of same fate as of another SLP which is already decided on (\N\Z[ ;OL ^VYRTLU [OLYLHM[LY ÄSLK H MYLZO >YP[ 7L[P[PVU ILMVYL [OL ZPUNSL ILUJO VM +LSOP /PNO *V\Y[ JOHSSLUNPUN [OL H^HYK KH[LK 1HU\HY` to the extent of denial of back wages. The said Writ 7L[P[PVU ^HZ KPZTPZZLK I` ZPUNSL ILUJO VM +LSOP /PNO *V\Y[ ]PKL P[Z Q\KNTLU[ KH[LK 6J[VILY VU [OL ground of res- judicata and on account of delay or SH[JOLZ ;OL Q\KNLTLU[ VM [OL ZPUNSL ILUJO VM +LSOP /PNO *V\Y[ PZ JOHSSLUNLK I` [OL ^VYRTLU ILMVYL +P]PZPVU )LUJO VM /PNO *V\Y[ ^OLYLPU UV[PJL OHZ ILLU PZZ\LK [V [OL *VTWHU` HUK TH[[LY PZ WLUKPUN ILMVYL +P]PZPVU )LUJO VM +LSOP /PNO *V\Y[ P] ;OL *VTWHU` PZ PU]VS]LK PU ]HYPV\Z SP[PNH[PVUZ [OL outcome of which are considered probable and PU YLZWLJ[ VM ^OPJO [OL *VTWHU` OHZ HNNYLNH[L provisions of ` SHJZ HZ H[ 4HYJO 4HYJO ` SHJZ (WYPS ` SHJZ

A

01-15

B

About HT Media

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 36. RELATED PARTY TRANSACTIONS

-VSSV^PUN HYL [OL 9LSH[LK 7HY[PLZ HUK [YHUZHJ[PVUZ LU[LYLK ^P[O YLSH[LK WHY[PLZ MVY [OL YLSL]HU[ ÄUHUJPHS `LHY !

i)

List of Related Parties and Relationships:Parties having direct or indirect control over the *VTWHU` /VSKPUN *VTWHU` :\IZPKPHYPLZ ^P[O ^OVT [YHUZHJ[PVUZ OH]L VJJ\YYLK K\YPUN [OL `LHY

1VPU[ =LU[\YL Associate

,HY[OZ[VUL /VSKPUN ;^V 3PTP[LK The Hindustan Times Limited /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK /; 4\ZPJ HUK ,U[LY[HPUTLU[ *VTWHU` 3PTP[LK -PYLÃ…` L =LU[\YLZ 3PTP[LK /; +PNP[HS 4LKPH /VSKPUNZ 3PTP[LK HT Mobile Solutions Limited HT Overseas Pte. Limited /; ,K\JH[PVU 3PTP[LK /; 3LHYUPUN *LU[LYZ 3PTP[LK /; .SVIHS ,K\JH[PVU /; +PNP[HS 0UMVYTH[PVU 7YP]H[L 3PTP[LK -VYTLYS` ,K >VYSK 7YP]H[L 3PTP[LK /; +PNP[HS :[YLHTZ 3PTP[LK ;VWTV]PLZ ,U[LY[HPUTLU[ 3PTP[LK 0UKPH ,K\JH[PVU :LY]PJLZ 7YP]H[L 3PTP[LK 4` 7HYPJOH` :LY]PJLZ 7YP]H[L 3PTP[LK 9LSH[PVUZOPW JLHZLK ^ L M 4HYJO

,U[P[PLZ ^OPJO HYL WVZ[ LTWSV`TLU[ ILULÄ[Z WSHUZ /; 4LKPH 3PTP[LK >VYRPUN 1V\YUHSPZ[ .YH[\P[` -\UK ^P[O ^OVT [YHUZHJ[PVUZ OH]L VJJ\YYLK K\YPUN [OL `LHY /; 4LKPH 3PTP[LK 5VU 1V\YUHSPZ[ 6[OLY ,TWSV`LLZ .YH[\P[` -\UK .YV\W JVTWHUPLZ ^OLYL JVTTVU JVU[YVS L_PZ[Z 7H_[VU ;YL_PT 7YP]H[L 3PTP[LK 9LSH[PVUZOPW JLHZLK ^ L M 1HU\HY` Key Management Personnel Mrs. Shobhana Bhartia ^P[O ^OVT [YHUZHJ[PVUZ OH]L VJJ\YYLK K\YPUN [OL `LHY Mr. Shamit Bhartia 4Y +PULZO 4P[[HS ^OVSL [PTL KPYLJ[VY ^ L M 4H` 4Y 9HQP] =LYTH *LHZLK [V IL ^OVSL [PTL KPYLJ[VY ^ L M 4HYJO 4Y 5 2 :PUNO 5VU ,_LJ\[P]L 0UKLWLUKLU[ +PYLJ[VYZ 4Y =PRYHT :PUNO 4LO[H 5VU ,_LJ\[P]L 0UKLWLUKLU[ +PYLJ[VY 4Y 2 5 4LTHUP 5VU ,_LJ\[P]L 0UKLWLUKLU[ +PYLJ[VY 4YZ 5\[HU 4P[[HS 9LSH[P]L VM +PULZO 4P[[HS 9LSH[P]L VM 2L` 4HUHNLTLU[ 7LYZVUULS ^P[O ^OVT [YHUZHJ[PVUZ OH]L VJJ\YYLK K\YPUN [OL `LHY ,HY[OZ[VUL /VSKPUN ;^V 3PTP[LK PZ [OL OVSKPUN *VTWHU` VM ;OL /PUK\Z[HU ;PTLZ 3PTP[LK

ii)

Transactions with related parties

9LMLY 5V[L (

iii) Terms and conditions of transactions with related parties

;OL ZHSLZ [V HUK W\YJOHZLZ MYVT YLSH[LK WHY[PLZ HYL THKL VU [LYTZ LX\P]HSLU[ [V [OVZL [OH[ WYL]HPS PU HYT»Z SLUN[O transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. This assessment PZ \UKLY[HRLU LHJO ÄUHUJPHS `LHY [OYV\NO L_HTPUPUN [OL ÄUHUJPHS WVZP[PVU VM [OL YLSH[LK WHY[` HUK [OL THYRL[ PU which the related party operates.

iv)

Transactions with key management personnel

9LMLY 5V[L (

ANNUAL REPORT 2016-17 141

142 HT MEDIA LIMITED

9LU[ 7HPK

4HYJO 4HYJO 4HYJO 4HYJO 7HPK MVY ,TWSV`LL ,K\JH[PVU 4HYJO 4HYJO Programme

7H`TLU[ MVY *HY 3LHZL

0U[LYLZ[ YLJLP]LK VU ÄUHUJL 4HYJO 4HYJO lease arangement 8 7YVJLZZ 4HUHNLTLU[ -LLZ 4HYJO *VU[LU[ -LL 9V`HS[` MLL 4HYJO 9LJLP]LK 9LJLPW[ HNHPUZ[ (ZZPNUTLU[ 4HYJO 4HYJO of Trade Mark 0U[LYLZ[ 9LJLP]LK VU 0U[LY 4HYJO *VYWVYH[L +LWVZP[ 6[OLYZ 4HYJO B Expenses 11 Purchase of Stores & Spares 4HYJO Material 4HYJO 7YPU[PUN :LY]PJL *OHYNLZ 4HYJO Paid 4HYJO 13 -LL MVY 5L^ZWYPU[ 4HYJO Procurement Support 4HYJO Services 14 (K]LY[PZLTLU[ ,_WLUZLZ 4HYJO Sales Promotion 4HYJO :OHYL VM 9L]LU\L NP]LU VU 4HYJO 1VPU[ :HSLZ 4HYJO Purchase of Newspaper for 4HYJO *PYJ\SH[PVU 4HYJO Infrastructure Support 4HYJO :LY]PJLZ :LH[Z ;HRLU 4HYJO 18 4LKPH 4HYRL[PUN *VTTPZZPVU 4HYJO *VSSLJ[PVU *OHYNLZ 7HPK 4HYJO 9LT\ULYH[PVU WHPK [V 2L` 4HYJO managerial personnel 4HYJO Share of Advertisement 4HYJO 9L]LU\L YLJPL]LK VU 4HYJO 1VPU[ :HSLZ

4

3

4HYJO 4HYJO 4HYJO 4HYJO Income from Advertisement & 4HYJO 4HYJO +PNP[HS :LY]PJLZ Sale of Newspaper for 4HYJO 4HYJO *PYJ\SH[PVU Infrastructure Support 4HYJO 4HYJO :LY]PJLZ :LH[Z .P]LU 4LKPH 4HYRL[PUN *VTTPZZPVU 4HYJO *VSSLJ[PVU *OHYNLZ 4HYJO 9LJLP]LK

A Revenue 1 Sale of Stores & Spares Material 1VI^VYR 9L]LU\L

SL Transactions for the year No ended March 31, 2017

Subsidiaries

Joint Associate Venture

-

-

-

-

-

-

-

-

-

-

- - - - - -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

- - - - - -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1.13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38.88 38.88

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48.38

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4.83 -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Rajiv NonVerma Executive Directors

EE - E

-

-

-

-

-

-

-

-

-

-

Dinesh Mittal

Key Managerial Personnel (KMP's) / Directors

The Hindustan Earthstone Hindustan HT Music and HT -PYLÃ…` HT Mobile HT HT HT HT Digital HT HT Global Ivy Top India MyParichay Shobhana Shamit Times Ltd Holding Media Entertainment Digital e-Ventures Solutions Overseas Education Learning Information Digital Education Talent movies Education Services Bhartia Bhartia (Two) Ltd Ventures Company Ltd Media Ltd Ltd Pte. Ltd. Ltd. Centers Pvt Ltd (Ed Streams India Enter- Services Pvt Ltd @@ Ltd Holdings Ltd. World Pvt Limited Private tainment Pvt. Ltd. Ltd. Ltd) (Refer Limited Limited Note B)

Holding Company

36A Transactions during the year with Related Parties (refer Note A)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Relatives of Key Managerial Personnel (KMP's)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Paxton Trexim Pvt Ltd @

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

HT Media HT Media Limited Limited Non Working Journalist Journalist & Other Gratuity Employees Fund Gratuity Fund

Enterprises Entities which are post owned or LTWSV`TLU[ ILULÄ[ WSHUZ ZPNUPÄJHU[S` PUÅ\LUJLK I` KMP or their relatives

-

-

-

Total

(` in Lacs)

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

-

-

-

-

-

-

-

-

-

-

-

-

4HYJO

4HYJO

4HYJO

4HYJO 4HYJO 4HYJO 4HYJO 31 5VU ,_LJ\[P]L +PYLJ[VY Z 4HYJO :P[[PUN -LL HUK *VTTPZZPVU 4HYJO *VU[YPI\[PVU [V .YH[\P[` ;Y\Z[ 4HYJO 4HYJO 33 Investments made in Shares 4HYJO 0UJS\KPUN HTV\U[ WHPK MVY 4HYJO 7YLMLYLUJL :OHYLZ

-

-

-

-

-

-

-

-

-

-

- -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

- - - - - -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

- 488.88 - -

-

-

- -

-

-

-

-

-

-

-

-

- -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

- - - - - - -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Paxton Trexim Pvt Ltd @

-

-

-

111.83

-

-

-

-

-

-

-

-

-

-

-

Total

(` in Lacs)

- - - - - - - - - - -

-

-

- -

-

-

-

-

-

-

-

-

-

HT Media HT Media Limited Limited Non Working Journalist Journalist & Other Gratuity Employees Fund Gratuity Fund

Enterprises Entities which are post owned or LTWSV`TLU[ ILULÄ[ WSHUZ ZPNUPÄJHU[S` PUÅ\LUJLK I` KMP or their relatives

16-58

Statutory Reports

C

5V[L ( ;OL [YHUZHJ[PVUZ HIV]L KV UV[ PUJS\KL ZLY]PJL [H_ ]H[ L[J ' 7H_[VU ;YL_PT 7][ 3[K JLHZLK [V IL YLSH[LK WHY[` VM /; 4LKPH 3PTP[LK ^ L M " [OLYLMVYL PU [OL TLU[PVULK 9LSH[LK 7HY[` ;YHUZHJ[PVU YLWVY[ VUS` [OL [YHUZHJ[PVUZ \UKLY[HRLU \U[PS [OH[ KH[L HYL YLWVY[LK OLYL '' 4`7HYPJOH` :LY]PJLZ 7][ 3[K JLHZLK [V IL YLSH[LK WHY[` VM /; 4LKPH 3PTP[LK ^ L M " [OLYLMVYL PU [OL TLU[PVULK 9LSH[LK 7HY[` ;YHUZHJ[PVU YLWVY[ VUS` [OL [YHUZHJ[PVUZ \UKLY[HRLU \U[PS [OH[ KH[L HYL YLWVY[LK OLYL E +VLZ UV[ PUJS\KL ZHSHY` VM ` SHJZ WHPK PU 4HYJO YLSH[PUN [V LHYSPLY `LHYZ EE 9LWYLZLU[Z [OL YLT\ULYH[PVU WHPK MYVT [OL KH[L VM ILJVTPUN ^OVSL [PTL KPYLJ[VY ILPUN 4H` 2L` 4HUHNLYPHS 7LYZVUULS HUK 9LSH[P]LZ VM 7YVTV[LYZ ^OV HYL \UKLY [OL LTWSV`TLU[ VM [OL *VTWHU` HYL LU[P[SLK [V WVZ[ LTWSV`TLU[ ILULÄ[Z HUK V[OLY SVUN [LYT LTWSV`LL ILULÄ[Z YLJVNUPZLK HZ WLY 0UK (: º,TWSV`LL )LULÄ[Z» PU [OL ÄUHUJPHS Z[H[LTLU[Z (Z [OLZL LTWSV`LL ILULÄ[Z HYL S\TW Z\T HTV\U[Z WYV]PKLK VU [OL IHZPZ VM HJ[\HYPHS ]HS\H[PVU the same is not included above. 5V[L ) :JOLTL VM (YYHUNLTLU[ \ Z VM *VTWHUPLZ (J[ :JOLTL IL[^LLU *VTWHU` HUK /; +PNP[HS :[YLHTZ 3PTP[LK /;+:3 HUK [OLPY YLZWLJ[P]L ZOHYLOVSKLYZ HUK JYLKP[VYZ MVY [YHUZMLY HUK ]LZ[PUN VM [OL 4\S[P TLKPH *VU[LU[ 4HUHNLTLU[ <UKLY[HRPUN VM [OL *VTWHU` º44*4 <UKLY[HRPUN» [V HUK PU /;+:3 HZ NVPUN JVUJLYU VU ZS\TW L_JOHUNL IHZPZ OHZ ILLU ZHUJ[PVULK I` +LSOP HUK 7H[UH /PNO *V\Y[ ;OL :JOLTL ILJHTL LMMLJ[P]L \WVU ÄSPUN VM HMVYLZHPK VYKLYZ ^P[O [OL 9LNPZ[YHY VM *VTWHUPLZ )POHY VU Z[ +LJLTILY ,MMLJ[P]L +H[L 0U [LYTZ VM [OL :JOLTL MVSSV^PUN [YHUZHJ[PVUZ OH]L [HRLU WSHJL IL[^LLU [OL (WWVPU[LK KH[L 4HYJO HUK [OL LMMLJ[P]L KH[L +LJLTILY ! H (ZZL[Z HUK SPHIPSP[PLZ YLSH[HISL [V 44*4 <UKLY[HRPUN VU HWWVPU[LK KH[L OH]L ILJVTL [OL HZZL[Z HUK SPHIPSP[PLZ VM /;+:3 I /;+:3 OHZ HSSV[[LK ,X\P[` :OHYLZ VM ` LHJO PU KPZJOHYNL VM W\YJOHZL JVUZPKLYH[PVU VU [OL LMMLJ[P]L KH[L MVY VM LX\P[` ZOHYL JHWP[HS VM /;+:3 J ;YHUZMLY VM YL]LU\L HUK L_WLUZLZ YLSH[HISL [V 44*4 \UKLY[HRPUN MYVT [OL HWWVPU[LK KH[L JSVZPUN OV\YZ VM 4HYJO HUK LMMLJ[P]L KH[L +LJLTILY MVY [YHUZMLY HUK ]LZ[PUN VM 44*4 \UKLY[HRPUN MYVT /;43 [V /; +PNP[HS :[YLHTZ 3[K ;OLZL HYL UV[ H YLSH[LK WHY[` [YHUZHJ[PVU I` ]PY[\L VM JSH\ZL P] VM ZJOLTL VM HYYHUNLTLU[ HUK HJJVYKPUNS` [YHUZHJ[PVUZ HM[LY [OL LMMLJ[P]L KH[L ^P[O /;+:3 OH]L ILLU KPZJSVZLK HIV]L

4HYJO 4HYJO (WYPS 0U]LZ[TLU[ PU *VTW\SZVY` 4HYJO *VU]LY[PISL +LILU[\YL **+ 4HYJO (WYPS Trade & other receivable 4HYJO 4HYJO PUJS\KPUN HK]HUJLZ NP]LU (WYPS Trade Payables 4HYJO 4HYJO (WYPS 38 0U[LY *VYWVYH[L +LWVZP[ 4HYJO 4HYJO Interest accrued on it (WYPS Security deposits given by 4HYJO 4HYJO [OL *VTWHU` (WYPS

-

-

-

-

Rajiv NonVerma Executive Directors

Relatives of Key Managerial Personnel (KMP's)

B

-

-

-

4HYJO

-

-

-

Dinesh Mittal

Key Managerial Personnel (KMP's) / Directors

About HT Media

Balance outstanding as on 34 Investment in Shares PUJS\KPUN WYLTP\T

Joint Associate Venture

01-15

-

-

4HYJO

-

-

4HYJO

-

4HYJO

-

4HYJO

-

-

-

*VU[LU[ 7YVJ\YLTLU[ -LLZ * 6;/,9: 9LPTI\YZLTLU[ VM L_WLUZLZ incurred on behalf of the company by parties 9LPTI\YZLTLU[ VM L_WLUZLZ incurred on behalf of the parties by company :HSL VM 7YVWLY[` 7SHU[ ,X\PWTLU[ HUK PU[HUNPISLZ I` [OL *VTWHU` 7\YJOHZL VM 7YVWLY[` 7SHU[ ,X\PWTLU[ HUK 0U[HUNPISL I` [OL *VTWHU` 0U[LY *VYWVYH[L +LWVZP[ NP]LU I` [OL *VTWHU` (ZZL[Z .P]LU VU 3LHZL

Subsidiaries

The Hindustan Earthstone Hindustan HT Music and HT -PYLÃ…` HT Mobile HT HT HT HT Digital HT HT Global Ivy Top India MyParichay Shobhana Shamit Times Ltd Holding Media Entertainment Digital e-Ventures Solutions Overseas Education Learning Information Digital Education Talent movies Education Services Bhartia Bhartia (Two) Ltd Ventures Company Ltd Media Ltd Ltd Pte. Ltd. Ltd. Centers Pvt Ltd (Ed Streams India Enter- Services Pvt Ltd @@ Ltd Holdings Ltd. World Pvt Limited Private tainment Pvt. Ltd. Ltd. Ltd) (Refer Limited Limited Note B)

Holding Company

4HYJO 4HYJO

SL Transactions for the year No ended March 31, 2017

A 59-290 Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017

ANNUAL REPORT 2016-17 143

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 37. SEGMENT INFORMATION -VY [OL W\YWVZL VM THUHNLTLU[ YL]PL^ [OL *VTWHU` is organised into business units based on the nature of WYVK\J[Z HUK ZLY]PJLZ HUK OHZ [OYLL YLWVY[HISL ZLNTLU[Z as follows: - Printing and Publication of Newspapers & Periodicals )\ZPULZZ VM 9HKPV )YVHKJHZ[ HUK HSS V[OLY YLSH[LK HJ[P]P[PLZ [OYV\NO P[Z 9HKPV JOHUULSZ VWLYH[PUN \UKLY IYHUK UHTL º-L]LY » º-L]LY» HUK º9HKPV 5HZOH » PU 0UKPH - Digital - Business of providing internet related services [OYV\NO H QVI WVY[HS :OPUL JVT VUSPUL JVU[LU[ THYRL[ WSHJL htsyndication.com and news websites hindustantimes. com and livemint.com ;OL THUHNLTLU[ VM [OL *VTWHU` TVUP[VYZ [OL VWLYH[PUN results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is L]HS\H[LK IHZLK VU P[Z WYVÄ[ HUK SVZZ HUK PZ TLHZ\YLK JVUZPZ[LU[S` ^P[O WYVÄ[ HUK SVZZ VM [OL *VTWHU` (SZV [OL

*VTWHUPLZ ÄUHUJPUN PUJS\KPUN ÄUHUJL JVZ[Z HUK ÄUHUJL PUJVTL HUK PUJVTL [H_LZ HYL THUHNLK VU H *VTWHU` basis and are not allocated to operating segments. ;OL ÄUHUJPHS PUMVYTH[PVU MVY [OLZL YLWVY[HISL ZLNTLU[Z OHZ ILLU WYV]PKLK PU *VUZVSPKH[LK -PUHUJPHS 9LZ\S[Z HZ WLY 0UK (: 6WLYH[PUN :LNTLU[Z

38. HEDGING ACTIVITIES AND DERIVATIVES Derivatives not designated as hedging instruments ;OL *VTWHU` \ZLZ MVYLPNU L_JOHUNL MVY^HYK JVU[YHJ[Z 6W[PVUZ 0U[LYLZ[ YH[L Z^HW JV\WVU VUS` Z^HW L[J [V manage its foreign currency exposures. These contracts HYL UV[ KLZPNUH[LK HZ JHZO Ã…V^ OLKNLZ HUK HYL LU[LYLK into for periods consistent with underlying transactions exposure.

39. FAIR VALUES :L[ V\[ ILSV^ PZ H JVTWHYPZVU I` JSHZZ VM [OL JHYY`PUN HTV\U[Z HUK MHPY ]HS\L VM [OL JVTWHUPLZ ÄUHUJPHS PUZ[Y\TLU[Z V[OLY [OHU [OVZL ^P[O JHYY`PUN HTV\U[Z [OH[ are reasonable approximations of fair values: ` PU 3HJZ

Carrying value Particulars Financial assets measured at fair Value 0U]LZ[TLU[Z ]HS\LK H[ -=;6*0 9LMLY 5V[L ) 4\[\HS -\UKZ ]HS\LK H[ -=;73 9LMLY 5V[L ) 6[OLY 0U]LZ[TLU[Z ]HS\LK H[ -=;73 9LMLY 5V[L ) -VY^HYK HUK 6W[PVU *VU[YHJ[Z H[ -=;73 9LMLY 5V[L + Financial assets measured at Amortized Cost 0U]LZ[TLU[ PU )VUKZ 9LMLY 5V[L ) -PUHUJPHS (ZZL[Z 3VHU 5VU *\YYLU[ 9LMLY 5V[L *

March 31, 2017

March 31, 2016

Fair value April 1, 2015

March 31, 2017

March 31, 2016

April 1, 2015

- -

6[OLY ÄUHUJPHS UVU J\YYLU[ HZZL[Z 9LMLY 5V[L + Total 138,672.23 119,061.10 102,717.96 138,685.64 119,085.72 102,738.64 Financial liabilities measured at fair Value -VY^HYK HUK 6W[PVU *VU[YHJ[Z H[ -=;73 - 9LMLY 5V[L * Financial liabilities measured at amortized cost 3VUN [LYT IVYYV^PUNZ 9LMLY 5V[L ( Total

144 HT MEDIA LIMITED

1,864.52

4,132.27

6,757.27

1,864.52

4,132.27

6,757.27

A

01-15

B

About HT Media

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 The management assessed that cash and cash LX\P]HSLU[Z V[OLY IHUR IHSHUJLZ [YHKL YLJLP]HISLZ V[OLY J\YYLU[ ÄUHUJPHS HZZL[ [YHKL WH`HISLZ *\YYLU[ )VYYV^PUNZ HUK V[OLY ÄUHUJPHS SPHIPSP[PLZ HWWYV_PTH[L [OLPY JHYY`PUN amounts largely due to the short-term maturities of these PUZ[Y\TLU[Z ;OL MHPY ]HS\L VM [OL ÄUHUJPHS HZZL[Z HUK liabilities is the amount at which the instrument could be L_JOHUNLK PU H J\YYLU[ [YHUZHJ[PVU IL[^LLU ^PSSPUN WHY[PLZ V[OLY [OHU PU H MVYJLK VY SPX\PKH[PVU ZHSL ;OL MVSSV^PUN methods and assumptions were used to estimate the fair values:

MVYLJHZ[ JHZO Ã…V^Z HUK KPZJV\U[ YH[L ;OL WYVIHIPSP[PLZ VM the various estimates within the range can be reasonably HZZLZZLK HUK HYL \ZLK PU THUHNLTLU[»Z LZ[PTH[L VM MHPY ]HS\L MVY [OLZL \UX\V[LK PU]LZ[TLU[Z

- The fair values of the companies interest-bearing IVYYV^PUNZ HUK SVHUZ HYL KL[LYTPULK I` \ZPUN +*- TL[OVK \ZPUN KPZJV\U[ YH[L [OH[ YLÃ…LJ[Z [OL PZZ\LY»Z IVYYV^PUN rate as at the end of the reporting period. The own nonWLYMVYTHUJL YPZR ^HZ HZZLZZLK [V IL PUZPNUPÄJHU[

0U]LZ[TLU[Z PU X\V[LK LX\P[` ZOHYLZ HYL ]HS\LK H[ JSVZPUN price of stock on recognized stock exchange.

;OL MHPY ]HS\LZ VM [OL PU]LZ[TLU[ PU \UX\V[LK LX\P[` shares/ debt instruments/ preference shares have been LZ[PTH[LK \ZPUN H +*- TVKLS VY JVTWHYHISL PU]LZ[TLU[ price such as last round of funding made in the investee JVTWHU` ;OL ]HS\H[PVU YLX\PYLZ THUHNLTLU[ [V THRL JLY[HPU HZZ\TW[PVUZ HIV\[ [OL TVKLS PUW\[Z PUJS\KPUN MVYLJHZ[ JHZO Ã…V^Z KPZJV\U[ YH[L JYLKP[ YPZR HUK ]VSH[PSP[` The probabilities of the various estimates within the range JHU IL YLHZVUHIS` HZZLZZLK HUK HYL \ZLK PU THUHNLTLU[»Z LZ[PTH[L VM MHPY ]HS\L MVY [OLZL \UX\V[LK PU]LZ[TLU[Z ;OL MHPY ]HS\LZ VM ;OL PU]LZ[TLU[ PU \UX\V[LK LX\P[` ZOHYLZ VM 0,:73 ]HS\LK H[ -=;6*0 OH]L ILLU LZ[PTH[LK \ZPUN H +*- TVKLS ;OL ]HS\H[PVU YLX\PYLZ THUHNLTLU[ [V THRL JLY[HPU HZZ\TW[PVUZ HIV\[ [OL TVKLS PUW\[Z PUJS\KPUN

0U]LZ[TLU[Z PU X\V[LK T\[\HS M\UKZ ILPUN ]HS\LK H[ 5L[ (ZZL[ =HS\L - Investments in venture capital funds are valued using ]HS\H[PVU [LJOUPX\LZ ^OPJO LTWSV`Z [OL \ZL VM THYRL[ VIZLY]HISLZ PUW\[Z HUK [OL HZZLZZTLU[ VM 5L[ (ZZL[ =HS\L

;OL *VTWHU` LU[LYZ PU[V KLYP]H[P]L ÄUHUJPHS PUZ[Y\TLU[Z Z\JO HZ 0U[LYLZ[ YH[L Z^HWZ *V\WVU VUS` Z^HW *HSS :WYLHK 6W[PVUZ MVYLPNU L_JOHUNL MVY^HYK JVU[YHJ[Z ILPUN ]HS\LK \ZPUN ]HS\H[PVU [LJOUPX\LZ ^OPJO LTWSV`Z [OL \ZL of market observable inputs. The company uses Mark to Market valuation provided by Bank for valuation of these derivative contracts. - The loans and investment in bonds are evaluated by the JVTWHU` IHZLK VU WHYHTL[LYZ Z\JO HZ PU[LYLZ[ YH[L YPZR MHJ[VYZ YPZR JOHYHJ[LYPZ[PJZ HUK PUKP]PK\HS JYLKP[ ^VY[OPULZZ VM [OL JV\U[LYWHY[` )HZLK VU [OPZ L]HS\H[PVU HSSV^HUJLZ are taken into account for the expected losses. ;OL ZPNUPÄJHU[ \UVIZLY]HISL PUW\[Z \ZLK PU [OL MHPY ]HS\L measurement categorized within Level 3 of the fair value OPLYHYJO` [VNL[OLY ^P[O H X\HU[P[H[P]L ZLUZP[P]P[` HUHS`ZPZ HZ H[ 4HYJO HUK 4HYJO HYL HZ ZOV^U ILSV^!

+LZJYPW[PVU VM ZPNUPÄJHU[ \UVIZLY]HISL PUW\[Z [V ]HS\H[PVU HZ H[ 4HYJO ! :PNUPÄJHU[ unobservable inputs

Range (weighted average)

Impact of 1% Increase to fair value (` in lacs)

Impact of 1% Decrease to fair value (` in Lacs)

Particulars

Valuation technique

0U]LZ[TLU[Z PU 0,:73 1VPU[ ]LU[\YL ]HS\LK H[ -=;6*0 9LMLY 5V[L )LSV^

+PZJV\U[LK Weighted Average JHZO Ã…V^ cost of capital

;LYTPUHS .YV^[O 9H[L

0U]LZ[TLU[ PU \UX\V[LK LX\P[` ZOHYLZ H[ 3L]LS +PZJV\U[LK Weighted Average 9LMLY 5V[L )LSV^ JHZO Ã…V^ cost of capital

+PZJV\U[ MVY SHJR of marketibility

;LYTPUHS .YV^[O 9H[L

ANNUAL REPORT 2016-17 145

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 +LZJYPW[PVU VM ZPNUPÄJHU[ \UVIZLY]HISL PUW\[Z [V ]HS\H[PVU HZ H[ 4HYJO ! :PNUPÄJHU[ unobservable inputs

Range (weighted average)

Impact of 1% Increase to fair value (` in lacs)

Impact of 1% Decrease to fair value (` in lacs)

Particulars

Valuation technique

0U]LZ[TLU[Z PU 0,:73 1VPU[ ]LU[\YL ]HS\LK H[ -=;6*0 9LMLY 5V[L )LSV^

+PZJV\U[LK Weighted Average JHZO Ã…V^ cost of capital

;LYTPUHS .YV^[O 9H[L

484.84

0U]LZ[TLU[ PU \UX\V[LK LX\P[` ZOHYLZ H[ 3L]LS +PZJV\U[LK Weighted Average 9LMLY 5V[L )LSV^ JHZO Ã…V^ cost of capital

;LYTPUHS .YV^[O

9H[L

+LZJYPW[PVU VM ZPNUPÄJHU[ \UVIZLY]HISL PUW\[Z [V ]HS\H[PVU HZ H[ (WYPS ! :PNUPÄJHU[ unobservable inputs

Range (weighted average)

Impact of 1% Increase to fair value (` in lacs)

Impact of 1% Decrease to fair value (` in lacs)

Particulars

Valuation technique

0U]LZ[TLU[Z PU 0,:73 1VPU[ ]LU[\YL ]HS\LK H[ -=;6*0 YLMLY UV[L ILSV^

Weighted +PZJV\U[LK (]LYHNL *VZ[ VM JHZO Ã…V^ *HWP[HS

;LYTPUHS .YV^[O 9H[L

;OL KPZJV\U[ MVY SHJR VM THYRL[HIPSP[` YLWYLZLU[Z [OL HTV\U[Z [OH[ [OL *VTWHU` OHZ KL[LYTPULK [OH[ THYRL[ WHY[PJPWHU[Z would take into account when pricing the investments. Reconciliation of fair value measurement of investment in unquoted equity shares/ debentures/preference shares/ venture capital fund measured at FVTPL: (Level III) ` PU 3HJZ Particulars

Total

As at April 1, 2015 Purchases 0TWHJ[ VM -HPY ]HS\L TV]LTLU[ Sales

4,145.57

As at March 31, 2016 Purchases 0TWHJ[ VM -HPY ]HS\L TV]LTLU[ Sales

7,232.00

As at March 31, 2017

9LMLY 5V[L )

146 HT MEDIA LIMITED

2,168.50

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Reconciliation of fair value measurement of FVTOCI investment : ` PU 3HJZ Particulars

Total

As at April 1, 2015 Addition

3,514.50

As at March 31, 2016 9L TLHZ\YLTLU[ YLJVNUPZLK PU 6*0 Addition

4,607.00

As at March 31, 2017

479.00

9LMLY 5V[L ) Fair value hierarchy The following table provides the fair value measurement hierarchy of the companies assets and liabilities. Quantitative disclosures fair value measurement hierarchy for assets as at March 31, 2017: ` PU 3HJZ Fair value measurement using Particulars

Date of valuation

Assets measured at fair value: -=;6*0 0U]LZ[TLU[Z 4HYJO 4\[\HS M\UK 0U]LZ[TLU[Z ]HS\LK H[ -=;73 4HYJO 6[OLY 0U]LZ[TLU[Z ]HS\LK H[ -=;73 4HYJO Assets measured at Amortized Cost Investment in Bonds -PUHUJPHS (ZZL[Z 3VHU 5VU *\YYLU[ 6[OLY ÄUHUJPHS HZZL[Z 5VU J\YYLU[

4HYJO 4HYJO 4HYJO

Total

:PNUPÄJHU[ :PNUPÄJHU[ Quoted prices in active markets observable inputs unobservable (Level 2) inputs (Level 3) (Level 1)

479.00 114,691.83 12,397.90

5,860.91 3,445.31 1,810.69

-

-

There have been no transfers between the Levels during the period. Quantitative disclosures fair value measurement hierarchy for liabilities as at March 31, 2017: ` PU 3HJZ Fair value measurement using

Liabilities measured at fair value: -VY^HYK HUK 6W[PVU *VU[YHJ[Z

Date of valuation

Total

Quoted prices in active markets (Level 1)

4HYJO

162.34

-

-

4HYJO

1,702.18

-

-

:PNUPÄJHU[ :PNUPÄJHU[ observable inputs unobservable (Level 2) inputs (Level 3)

Financial liabilities measured at amortized cost : Long term borrowings

ANNUAL REPORT 2016-17 147

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Quantitative disclosures fair value measurement hierarchy for assets as at March 31, 2016: ` PU 3HJZ Fair value measurement using Total

Quoted prices in active markets (Level 1)

Assets measured at fair value: 0U]LZ[TLU[Z ]HS\LK H[ -=;6*0 4\[\HS -\UKZ ]HS\LK H[ -=;73 6[OLY 0U]LZ[TLU[Z ]HS\LK H[ -=;73

4,607.00 4HYJO 4HYJO 104,695.58 5,239.13 4HYJO

-

Assets measured at Amortized Cost Investment in Bonds -PUHUJPHS (ZZL[Z 3VHU 5VU *\YYLU[ 6[OLY ÄUHUJPHS HZZL[Z 5VU J\YYLU[

4HYJO 4HYJO 4HYJO

885.88 3,417.32 240.81

-

-

Date of valuation

:PNUPÄJHU[ :PNUPÄJHU[ observable inputs unobservable (Level 2) inputs (Level 3)

There have been no transfers between the Levels during the period. Quantitative disclosures fair value measurement hierarchy for liabilities as at March 31, 2016: ` PU 3HJZ Fair value measurement using

Liabilities measured at fair value: -VY^HYK HUK 6W[PVU *VU[YHJ[Z

Quoted prices in active markets (Level 1)

:PNUPÄJHU[ :PNUPÄJHU[ observable inputs unobservable (Level 2) inputs (Level 3)

Date of valuation

Total

4HYJO

198.67

-

-

4HYJO

3,933.60

-

-

Financial liabilities measured at amortized cost : Long term borrowings

There have been no transfers between the Levels during the period. Quantitative disclosures fair value measurement hierarchy for assets as at April 1, 2015: ` PU 3HJZ Fair value measurement using Quoted prices in active markets (Level 1)

:PNUPÄJHU[ :PNUPÄJHU[ observable inputs unobservable (Level 2) inputs (Level 3)

Date of valuation

Total

Assets measured at fair value: 0U]LZ[TLU[Z ]HS\LK H[ -=;6*0 4\[\HS -\UKZ ]HS\LK H[ -=;73 6[OLY 0U]LZ[TLU[Z ]HS\LK H[ -=;73 -VY^HYK HUK 6W[PVU *VU[YHJ[Z

(WYPS (WYPS (WYPS (WYPS

3,514.50 92,221.84 2,277.37 196.59

-

-

Assets measured at Amortized Cost Investment in Bonds -PUHUJPHS (ZZL[Z 3VHU 5VU *\YYLU[ 6[OLY ÄUHUJPHS HZZL[Z 5VU J\YYLU[

(WYPS (WYPS (WYPS

845.13 3,400.71 282.49

-

-

148 HT MEDIA LIMITED

A

01-15

B

About HT Media

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Quantitative disclosures fair value measurement hierarchy for liabilities as at April 1, 2015 : ` PU 3HJZ Fair value measurement using Date of valuation

Total

(WYPS

6,757.27

Quoted prices in active markets (Level 1)

:PNUPÄJHU[ :PNUPÄJHU[ observable inputs unobservable (Level 2) inputs (Level 3)

Financial liabilities measured at amortized cost : Long term borrowings

-

-

There have been no transfers between the Levels during the period.

40. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES ;OL JVTWHUPLZ WYPUJPWHS ÄUHUJPHS SPHIPSP[PLZ V[OLY [OHU KLYP]H[P]LZ JVTWYPZL SVHUZ HUK IVYYV^PUNZ [YHKL HUK V[OLY WH`HISLZ ;OL THPU W\YWVZL VM [OLZL ÄUHUJPHS SPHIPSP[PLZ PZ [V ÄUHUJL [OL JVTWHUPLZ VWLYH[PVUZ HUK [V Z\WWVY[ P[Z VWLYH[PVUZ ;OL JVTWHUPLZ WYPUJPWHS ÄUHUJPHS HZZL[Z PUJS\KL SVHUZ [YHKL HUK V[OLY YLJLP]HISLZ HUK JHZO HUK JHZO LX\P]HSLU[Z [OH[ KLYP]L KPYLJ[S` MYVT P[Z VWLYH[PVUZ The company also enters into derivative transactions. ;OL JVTWHU` PZ L_WVZLK [V THYRL[ YPZR JYLKP[ YPZR HUK SPX\PKP[` YPZR ;OL JVTWHUPLZ ZLUPVY THUHNLTLU[ V]LYZLLZ [OL THUHNLTLU[ VM [OLZL YPZRZ ;OL *VTWHUPLZ ÄUHUJPHS risk activities are governed by appropriate policies and WYVJLK\YLZ HUK [OH[ ÄUHUJPHS YPZRZ HYL PKLU[PÄLK TLHZ\YLK HUK THUHNLK PU HJJVYKHUJL ^P[O [OL *VTWHUPLZ policies and risk objectives. All derivative activities for risk management purposes are carried out by specialist [LHTZ [OH[ OH]L [OL HWWYVWYPH[L ZRPSSZ L_WLYPLUJL HUK supervision. It is the companies policy that no trading in foreign exchange derivatives for speculative purposes will be undertaken. The policies for managing each of these YPZRZ ^OPJO HYL Z\TTHYPZLK ILSV^!

The sensitivity analyses in the following sections relate to [OL WVZP[PVU HZ H[ 4HYJO HUK 4HYJO The sensitivity analyses have been prepared on the basis that [OL HTV\U[ VM UL[ KLI[ [OL YH[PV VM Ä_LK [V ÅVH[PUN PU[LYLZ[ YH[LZ VM [OL KLI[ HUK KLYP]H[P]LZ HUK [OL WYVWVY[PVU VM ÄUHUJPHS instruments in foreign currencies are all constant and on the IHZPZ VM OLKNL KLZPNUH[PVUZ PU WSHJL H[ 4HYJO The analysis exclude the impact of movements in market variables on: the carrying values of gratuity and other post retirement obligations and provisions. ;OL ZLUZP[P]P[` VM [OL YLSL]HU[ WYVÄ[ VY SVZZ P[LT PZ [OL LMMLJ[ of the assumed changes in respective market risks. This is IHZLK VU [OL ÄUHUJPHS HZZL[Z HUK ÄUHUJPHS SPHIPSP[PLZ OLSK H[ 4HYJO HUK 4HYJO

Interest rate risk Interest rate risk is the risk that the fair value or future cash ÅV^Z VM H ÄUHUJPHS PUZ[Y\TLU[ ^PSS Å\J[\H[L ILJH\ZL VM changes in market interest rates. The companies exposure to the risk of changes in market interest rates relates primarily to the companies current debt obligations with Ä_LK PU[LYLZ[ YH[LZ

Market risk 4HYRL[ YPZR PZ [OL YPZR [OH[ [OL MHPY ]HS\L VM M\[\YL JHZO ÅV^Z VM H ÄUHUJPHS PUZ[Y\TLU[ ^PSS Å\J[\H[L ILJH\ZL VM JOHUNLZ in market prices. Market risk comprises three types of risk: PU[LYLZ[ YH[L YPZR J\YYLUJ` YPZR HUK V[OLY WYPJL YPZR Z\JO HZ JVTTVKP[` YPZR -PUHUJPHS PUZ[Y\TLU[Z HMMLJ[LK I` THYRL[ YPZR PUJS\KL SVHUZ HUK IVYYV^PUNZ KLWVZP[Z HUK KLYP]H[P]L ÄUHUJPHS PUZ[Y\TLU[Z

;OL *VTWHU` THUHNLZ P[Z PU[LYLZ[ YH[L YPZR MVY ZOVY[ [LYT IV^YYV^PUNZ I` YHPZPUN M\UKZ H[ H Ä_LK YH[L HUK for Long term borrowing by selectively using interest rate Z^HWZ JV\WVU VUS` Z^HW HUK V[OLY KLYP]H[P]L PUZ[Y\TLU[Z to manage its exposure to interest rate movements. These exposures are reviewed by appropriate levels of management HZ HUK ^OLU YLX\PYLK

ANNUAL REPORT 2016-17 149

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ;OL L_WVZ\YL VM [OL *VTWHU`»Z ÄUHUJPHS SPHIPSP[PLZ HZ H[ 4HYJO [V PU[LYLZ[ YH[L YPZR PZ HZ MVSSV^Z! ` PU 3HJZ Particulars

-PUHUJPHS 3PHIPSP[PLZ 9LMLY 5V[L (

Total

Floating rate Fixed rate ÄUHUJPHS SPHIPSP[PLZ ÄUHUJPHS SPHIPSP[PLZ

;OL ^LPNO[LK H]LYHNL PU[LYLZ[ YH[L VU [OL Ä_LK YH[L ÄUHUJPHS SPHIPSP[PLZ PZ W H

;OL L_WVZ\YL VM [OL *VTWHU`»Z ÄUHUJPHS SPHIPSP[PLZ HZ H[ 4HYJO [V PU[LYLZ[ YH[L YPZR PZ HZ MVSSV^Z! ` PU 3HJZ Particulars

-PUHUJPHS 3PHIPSP[PLZ 9LMLY 5V[L (

Total

Floating rate Fixed rate ÄUHUJPHS SPHIPSP[PLZ ÄUHUJPHS SPHIPSP[PLZ

;OL ^LPNO[LK H]LYHNL PU[LYLZ[ YH[L VU [OL Ä_LK YH[L ÄUHUJPHS SPHIPSP[PLZ PZ W H ;OL L_WVZ\YL VM [OL *VTWHU`»Z ÄUHUJPHS SPHIPSP[PLZ HZ H[ (WYPS [V PU[LYLZ[ YH[L YPZR PZ HZ MVSSV^Z! ` PU 3HJZ Particulars

-PUHUJPHS 3PHIPSP[PLZ 9LMLY 5V[L (

Total

Floating rate Fixed rate ÄUHUJPHS SPHIPSP[PLZ ÄUHUJPHS SPHIPSP[PLZ -

;OL ^LPNO[LK H]LYHNL PU[LYLZ[ YH[L VU [OL Ä_LK YH[L ÄUHUJPHS SPHIPSP[PLZ PZ W H

0U[LYLZ[ YH[L ZLUZP[P]P[` MVY Ã…VH[PUN IVYYV^PUNZ ;OL [HISL ILSV^ PSS\Z[YH[LZ [OL PTWHJ[ VM H [V TV]LTLU[ PU PU[LYLZ[ YH[LZ VU PU[LYLZ[ L_WLUZL VU SVHUZ HUK borrowings. The risk estimate provided assumes that the changes occur at the reporting date and has been calculated based on risk exposure outstanding as of date. The year end balances are not necessarily representative of the average debt outstanding K\YPUN [OL `LHY ;OPZ HUHS`ZPZ HSZV HZZ\TLZ [OH[ HSS V[OLY ]HYPHISLZ PU WHY[PJ\SHY MVYLPNU J\YYLUJ` YH[LZ YLTHPU JVUZ[HU[ Movement in interest rates ` PU 3HJZ Particulars

150 HT MEDIA LIMITED

March 31, 2017

March 31, 2016

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Foreign currency risk -VYLPNU J\YYLUJ` YPZR PZ [OL YPZR [OH[ [OL MHPY ]HS\L VY M\[\YL JHZO Ã…V^Z VM HU L_WVZ\YL ^PSS Ã…\J[\H[L ILJH\ZL VM JOHUNLZ PU foreign exchange rates. The companies exposure to the risk of changes in foreign exchange rates relates primarily to the JVTWHUPLZ VWLYH[PUN HJ[P]P[PLZ ^OLU YL]LU\L VY L_WLUZL PZ KLUVTPUH[LK PU H MVYLPNU J\YYLUJ` PU]LZ[TLU[ IVYYV^PUN PU foreign currency etc. The company manages its foreign currency risk by hedging foreign currency transactions with forward covers and option JVU[YHJ[Z ;OLZL [YHUZHJ[PVUZ NLULYHSS` YLSH[LZ [V W\YJOHZL VM PTWVY[LK UL^ZWYPU[ PU]LZ[TLU[ IVYYV^PUNZ PU MVYLPNU J\YYLUJ` >OLU H KLYP]H[P]L PZ LU[LYLK PU[V MVY [OL W\YWVZL VM ILPUN H OLKNL [OL JVTWHU` ULNV[PH[LZ [OL [LYTZ VM [OVZL KLYP]H[P]LZ [V TH[JO [OL [LYTZ VM [OL \UKLYS`PUN L_WVZ\YL -VY OLKNLZ VM MVYLJHZ[ [YHUZHJ[PVUZ [OL KLYP]H[P]LZ JV]LY [OL WLYPVK VM L_WVZ\YL MYVT [OL WVPU[ [OL JHZO Ã…V^Z VM [OL [YHUZHJ[PVUZ \W [V [OL WVPU[ VM ZL[[SLTLU[ VM [OL YLZ\S[PUN YLJLP]HISL VY WH`HISL [OH[ PZ denominated in the foreign currency. Foreign currency sensitivity ;OL MVSSV^PUN [HISLZ KLTVUZ[YH[L [OL ZLUZP[P]P[` [V H YLHZVUHIS` WVZZPISL JOHUNL PU L_JOHUNL YH[LZ ^P[O HSS V[OLY ]HYPHISLZ OLSK JVUZ[HU[ ;OL PTWHJ[ VU [OL *VTWHU`»Z WYVÄ[ [H_ PZ K\L [V JOHUNL PU [OL MHPY ]HS\L VM TVUL[HY` HZZL[Z SPHIPSP[PLZ ` PU 3HJZ Change in foreign currency rate Particulars Change in USD rate Trade payables Investments )HSHUJL VU *\YYLU[ (JJV\U[ ;YHKL 9LJLP]HISLZ (K]HUJL MYVT *\Z[VTLYZ Loans & Advances Change in GBP rate Investments ;YHKL 9LJLP]HISLZ (K]HUJL MYVT *\Z[VTLYZ Loans & Advances Change in SGD rate Trade payables Investments ;YHKL 9LJLP]HISLZ )HSHUJL VU *\YYLU[ (JJV\U[ Change in Pakistani Rupee Rate ;YHKL 9LJLP]HISLZ Change in JPY rate Trade Payables Change in AUD rate ;YHKL 9LJLP]HISLZ Change in Euro rate Trade payables ;YHKL 9LJLP]HISLZ Loans & Advances

,MMLJ[ VU WYVÄ[ ILMVYL [H_

March 31, 2017

March 31, 2016

March 31, 2017

March 31, 2016

-

-

-

-

-

-

-

ANNUAL REPORT 2016-17 151

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Commodity price risk ;OL JVTWHU` PZ HMMLJ[LK I` [OL WYPJL ]VSH[PSP[` VM JLY[HPU JVTTVKP[PLZ 0[Z VWLYH[PUN HJ[P]P[PLZ YLX\PYL [OL VUNVPUN W\YJOHZL VM UL^ZWYPU[ HUK 0UR HUK [OLYLMVYL YLX\PYL H JVU[PU\V\Z Z\WWS` +\L [V [OL ]VSH[PSP[` VM [OL WYPJL VM [OL UL^ZWYPU[ [OL *VTWHU` HSZV LU[LYLK PU[V ]HYPV\Z W\YJOHZL JVU[YHJ[Z The management of company has developed and enacted a risk management strategy regarding commodity price risk and its mitigation. Commodity price sensitivity The following table shows the effect of price changes in newsprint & Ink Change in year-end price

,MMLJ[ VU WYVÄ[ ILMVYL tax (` in lacs)

March 31, 2017 Newsprint & Ink

March 31, 2016 Newsprint & Ink

381.33

Particulars

Equity price risk ;OL *VTWHU` PU]LZ[Z PU SPZ[LK HUK UVU SPZ[LK LX\P[` securities which are susceptible to market price risk arising from uncertainties about future values of the investment ZLJ\YP[PLZ ;OL *VTWHU` THUHNLZ [OL LX\P[` WYPJL YPZR [OYV\NO KP]LYZPÄJH[PVU HUK I` WSHJPUN SPTP[Z VU PUKP]PK\HS HUK [V[HS LX\P[` PUZ[Y\TLU[Z 9LWVY[Z VU [OL LX\P[` WVY[MVSPV HYL Z\ITP[[LK [V [OL *VTWHUPLZ ZLUPVY THUHNLTLU[ VU H YLN\SHY IHZPZ ;OL JVTWHUPLZ 0U]LZ[TLU[ *VTTP[LL YL]PL^Z HUK HWWYV]LZ HSS LX\P[` PU]LZ[TLU[ KLJPZPVUZ Credit risk *YLKP[ YPZR PZ [OL YPZR [OH[ JV\U[LYWHY[` ^PSS UV[ TLL[ P[Z VISPNH[PVUZ \UKLY H ÄUHUJPHS PUZ[Y\TLU[ VY J\Z[VTLY JVU[YHJ[ SLHKPUN [V H ÄUHUJPHS SVZZ ;OL JVTWHU` PZ L_WVZLK [V JYLKP[ YPZR MYVT P[Z VWLYH[PUN HJ[P]P[PLZ WYPTHYPS` [YHKL YLJLP]HISLZ HUK MYVT P[Z ÄUHUJPUN HJ[P]P[PLZ PUJS\KPUN KLWVZP[Z ^P[O IHURZ HUK ÄUHUJPHS PUZ[P[\[PVUZ MVYLPNU L_JOHUNL [YHUZHJ[PVUZ HUK V[OLY ÄUHUJPHS PUZ[Y\TLU[Z Trade receivables An impairment analysis is performed at each reporting date on an individual basis for major clients. The maximum exposure to credit risk at the reporting date is the carrying ]HS\L VM LHJO JSHZZ VM ÄUHUJPHS HZZL[Z KPZJSVZLK PU 5V[L ( ;OL *VTWHU` KVLZ UV[ OVSK JVSSH[LYHS HZ ZLJ\YP[` ;OL *VTWHU` L]HS\H[LZ [OL JVUJLU[YH[PVU VM YPZR ^P[O YLZWLJ[ [V [YHKL YLJLP]HISLZ HZ SV^ HZ P[Z J\Z[VTLYZ HYL located in several jurisdictions and industries and operate in largely independent markets.

152 HT MEDIA LIMITED

Financial instruments and cash deposits *YLKP[ YPZR MYVT IHSHUJLZ ^P[O IHURZ HUK ÄUHUJPHS PUZ[P[\[PVUZ PZ THUHNLK I` [OL *VTWHU`»Z [YLHZ\Y` KLWHY[TLU[ PU HJJVYKHUJL ^P[O [OL JVTWHU`»Z WVSPJ` Investments of surplus funds are made as per guideines HUK ^P[OPU SPTP[Z HWWYV]LK I` )VHYK VM +PYLJ[VYZ )VHYK VM +PYLJ[VYZ 4HUHNLTLU[ YL]PL^Z HUK \WKH[L N\PKLSPULZ [PTL [V [PTL HZ WLY YLX\PYLTLU[ ;OL N\PKLSPULZ HYL ZL[ [V minimise the concentration of risks and therefore mitigate ÄUHUJPHS SVZZ [OYV\NO JV\U[LYWHY[`»Z WV[LU[PHS MHPS\YL [V make payments. Liquidity risk ;OL *VTWHU` TVUP[VYZ P[Z YPZR VM ZOVY[HNL VM M\UKZ ;OL *VTWHU`»Z VIQLJ[P]L PZ [V THPU[HPU H IHSHUJL IL[^LLU JVU[PU\P[` VM M\UKPUN HUK Ã…L_PIPSP[` [OYV\NO [OL \ZL VM )HUR V]LYKYHM[Z )HUR SVHUZ 4VUL` 4HYRL[ )VYYV^PUN (WWYV_PTH[LS` VM [OL *VTWHU`»Z KLI[ ^PSS TH[\YL PU SLZZ [OHU VUL `LHY H[ 4HYJO 4HYJO ! (WYPS ! IHZLK VU [OL JHYY`PUN ]HS\L VM IVYYV^PUNZ YLÃ…LJ[LK PU [OL ÄUHUJPHS Z[H[LTLU[Z ;OL *VTWHU` HZZLZZLK [OL JVUJLU[YH[PVU VM YPZR ^P[O YLZWLJ[ [V YLÄUHUJPUN P[Z KLI[ HUK JVUJS\KLK P[ [V IL SV^ ;OL *VTWHU` OHZ HJJLZZ [V H Z\MÄJPLU[ ]HYPL[` VM ZV\YJLZ of funding i.e. investments / Bank limits for Borrowing/ JHZO HJJY\HS MYVT 6WLYH[PVU HUK KLI[ TH[\YPUN ^P[OPU months can be paid/ rolled over with existing lenders.

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 ;OL [HISL ILSV^ Z\TTHYPZLZ [OL TH[\YP[` WYVÄSL VM [OL *VTWHU`»Z ÄUHUJPHS SPHIPSP[PLZ ` PU 3HJZ Within 1 year

More than 1 year

Total

As at March 31, 2017 )VYYV^PUNZ 9LMLY 5V[L ( ;YHKL HUK V[OLY WH`HISLZ 9LMLY 5V[L ) 6[OLY ÄUHUJPHS SPHIPSP[PLZ 9LMLY 5V[L *

-

As at March 31, 2016 )VYYV^PUNZ 9LMLY 5V[L ( ;YHKL HUK V[OLY WH`HISLZ 9LMLY 5V[L ) 6[OLY ÄUHUJPHS SPHIPSP[PLZ 9LMLY 5V[L *

-

As at April 1, 2015 )VYYV^PUNZ 9LMLY 5V[L ( ;YHKL HUK V[OLY WH`HISLZ 9LMLY 5V[L ) 6[OLY ÄUHUJPHS SPHIPSP[PLZ 9LMLY 5V[L *

-

Particulars

Collateral ;OL *VTWHU` OHZ WSLKNLK WHY[ VM P[Z 0U]LZ[TLU[ PU 4\[\HS -\UKZ PU VYKLY [V M\SÄS [OL JVSSH[LYHS YLX\PYLTLU[Z MVY )VYYV^PUN ([ 4HYJO 4HYJO HUK (WYPS [OL PU]LZ[LK ]HS\LZ VM [OL 0U]LZ[TLU[ PU 4\[\HS -\UKZ WSLKNLK ^LYL ` SHJZ ` SHJZ HUK ` SHJZ YLZWLJ[P]LS` ;OL JV\U[LYWHY[PLZ OH]L HU VISPNH[PVU [V YL[\YU [OL securities to the company and the company has an obligation to repay the borrowing to the counterparties upon maturity/ +\L +H[L ;OLYL HYL UV V[OLY ZPNUPÄJHU[ [LYTZ HUK JVUKP[PVUZ HZZVJPH[LK ^P[O [OL \ZL VM JVSSH[LYHS :LJ\YP[PLZ L_JLW[ pledge given against outstanding Bank facilities details is provided in borrowing note.

41. CAPITAL MANAGEMENT -VY [OL W\YWVZL VM [OL JVTWHUPLZ JHWP[HS THUHNLTLU[ JHWP[HS PUJS\KLZ PZZ\LK LX\P[` JHWP[HS ZOHYL WYLTP\T HUK HSS V[OLY LX\P[` YLZLY]LZ ;OL WYPTHY` VIQLJ[P]L VM [OL JVTWHUPLZ JHWP[HS THUHNLTLU[ PZ [V TH_PTPZL [OL ZOHYLOVSKLY ]HS\L The company manages its capital structure and makes adjustments in light of changes in economic conditions and the YLX\PYLTLU[Z VM [OL ÄUHUJPHS JV]LUHU[Z ;V THPU[HPU VY HKQ\Z[ [OL JHWP[HS Z[Y\J[\YL [OL JVTWHU` TH` HKQ\Z[ [OL KP]PKLUK WH`TLU[ [V ZOHYLOVSKLYZ YL[\YU JHWP[HS [V ZOHYLOVSKLYZ VY PZZ\L UL^ ZOHYLZ ;OL JVTWHU` TVUP[VYZ JHWP[HS \ZPUN H NLHYPUN YH[PV ^OPJO PZ UL[ KLI[ KP]PKLK I` [V[HS JHWP[HS WS\Z UL[ KLI[ ;OL JVTWHU` PUJS\KLZ ^P[OPU UL[ KLI[ PU[LYLZ[ ILHYPUN SVHUZ HUK IVYYV^PUNZ [YHKL HUK V[OLY WH`HISLZ SLZZ JHZO HUK JHZO LX\P]HSLU[Z ` PU 3HJZ Particulars

March 31, 2017

March 31, 2016

April 1, 2015

Sub Total 3LZZ! JHZO HUK JHZO LX\P]HSLU[Z 5V[L ) 3LZZ! )HUR )HSHUJL V[OLY [OHU TLU[PVULK HIV]L 5V[L )

1,67,376.84

1,51,600.47

89,230.99

Net debt ,X\P[` 6[OLY ,X\P[`

1,60,786.67

1,43,218.66

77,639.23

Total capital Capital and net debt Gearing ratio

1,69,836.89 3,30,623.56 49%

1,60,367.36 3,03,586.02 47%

1,52,883.69 2,30,522.92 34%

)VYYV^PUNZ 5V[L ( ;YHKL WH`HISLZ 5V[L ) 6[OLY ÄUHUJPHS SPHIPS[PLZ 5V[L * 6[OLY J\YYLU[ SPHIPSP[PLZ 5V[L 6[OLY UVU J\YYLU[ SPHIPSP[PLZ 5V[L

ANNUAL REPORT 2016-17 153

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 0U VYKLY [V HJOPL]L [OPZ V]LYHSS VIQLJ[P]L [OL JVTWHUPLZ JHWP[HS THUHNLTLU[ HTVUNZ[ V[OLY [OPUNZ HPTZ [V LUZ\YL [OH[ P[ TLL[Z ÄUHUJPHS JV]LUHU[Z H[[HJOLK [V [OL PU[LYLZ[ ILHYPUN SVHUZ HUK IVYYV^PUNZ [OH[ KLÄUL JHWP[HS Z[Y\J[\YL YLX\PYLTLU[Z )YLHJOLZ PU TLL[PUN [OL ÄUHUJPHS JV]LUHU[Z would permit the bank to immediately call loans and IVYYV^PUNZ ;OL *VTWHU` OHZ ZH[PZÄLK HSS ÄUHUJPHS KLI[ covenants prescribed in the terms of bank loan except ;V[HS +LI[ [V ,)0;+( YH[PV 9LX\PYLK ^HP]LY HWWYV]HS K[K 1HU\HY` OHZ ILLU VI[HPULK MYVT *P[P )HUR [V condone the non-compliance and non-adherence of the ;V[HS +LI[ [V ,)0;+( 9H[PV [PSS :LW[LTILY MVY -*59 ,*) SVHU

42. STANDARDS ISSUED BUT NOT YET EFFECTIVE 0U 4HYJO [OL 4PUPZ[Y` VM *VYWVYH[L (MMHPYZ PZZ\LK [OL JVTWHU`»Z 0UKPHU (JJV\U[PUN :[HUKHYKZ (TLUKTLU[Z 9\SLZ UV[PM`PUN HTLUKTLU[Z [V 0UK (: º:[H[LTLU[ VM JHZO Ã…V^Z» HUK 0UK (: º:OHYL IHZLK WH`TLU[» These amendments are in accordance with the recent amendments made by International Accounting standards )VHYK 0(:) [V 0(: º :[H[LTLU[ VM JHZO Ã…V^Z» HUK 0-9: º:OHYL IHZLK WH`TLU[» YLZWLJ[P]LS` ;OL HTLUKTLU[Z HYL HWWSPJHISL [V [OL *VTWHU` MYVT (WYPS (TLUKTLU[ [V 0UK (: :[H[LTLU[ VM *HZO Ã…V^Z ;OL HTLUKTLU[ [V 0UK (: YLX\PYLK [OL LU[P[PLZ [V WYV]PKL KPZJSVZ\YLZ [OH[ LUHISL \ZLYZ VM ÄUHUJPHS Z[H[LTLU[Z [V L]HS\H[L JOHUNLZ PU SPHIPSP[PLZ HYPZPUN MYVT ÄUHUJPUN HJ[P]P[PLZ PUJS\KPUN IV[O JOHUNLZ HYPZPUN MYVT JHZO

Ã…V^Z HUK UVU JHZO JOHUNLZ Z\NNLZ[PUN PUJS\ZPVU VM H reconciliation between the opening and closing balances PU [OL IHSHUJLZ ZOLL[ MVY SPHIPSP[PLZ HYPZPUN MYVT ÄUHUJPUN HJ[P]P[PLZ [V TLL[ [OL KPZJSVZ\YL YLX\PYLTLU[Z ;OL LMMLJ[ VU [OL ÄUHUJPHS Z[H[LTLU[Z PZ ILPUN L]HS\H[LK I` [OL *VTWHU` Amendment to Ind-AS 102 : ;OL HTLUKTLU[ [V 0UK (: WYV]PKLZ ZWLJPÄJ N\PKHUJL [V TLHZ\YLTLU[ VM JHZO ZL[[SLK H^HYKZ TVKPÄJH[PVU VM JHZO settled awards and awards that include a net settlement feature in respect of withholding taxes. 0[ JSHYPÄLZ [OH[ [OL MHPY ]HS\L VM JHZO ZL[[SLK H^HYKZ PZ KL[LYTPULK VU H IHZPZ JVUZPZ[LU[ ^P[O [OH[ \ZLK MVY LX\P[` settled awards. Market based performance conditions and UVU ]LZ[PUN JVUKP[PVUZ HYL YLÃ…LJ[LK PU [OL ºMHPY ]HS\LZ» I\[ non- market performance conditions and services vesting JVUKP[PVUZ HYL YLÃ…LJ[LK PU [OL LZ[PTH[L VM [OL U\TILY VM H^HYKZ L_WLJ[LK [V ]LZ[ (SZV [OL HTLUKTLU[ JSHYPÄLZ [OH[ if the terms and conditions of a cash settled share based WH`TLU[ [YHUZHJ[PVU HYL TVKPÄLK ^P[O [OL YLZ\S[ [OH[ P[ ILJVTLZ HU LX\P[` ZL[[SLK ZOHYL IHZLK WH`TLU[ [YHUZHJ[PVU the transaction is accounted for as such from the date of the TVKPÄJH[PVU -\Y[OLY [OL HTLUKTLU[ YLX\PYLZ [OL H^HYK that include a net settlement feature in respect of withholding [H_LZ [V IL [YLH[LK HZ LX\P[` ZL[[SLK PU P[Z LU[PYL[` ;OL JHZO payment to the tax authority is treated as if it was part of an LX\P[` ZL[[SLTLU[ ;OL LMMLJ[ VU [OL ÄUHUJPHS Z[H[LTLU[Z PZ ILPUN L]HS\H[LK I` [OL *VTWHU`

43. BASED ON THE INFORMATION AVAILABLE WITH THE COMPANY, DETAILS OF DUES TO MICRO AND SMALL ENTERPRISES AS DEFINED UNDER THE MSMED ACT, 2006 ` PU 3HJZ Particulars

Principal Amount Interest due thereon at the end of the accounting year ;OL HTV\U[ VM PULYLZ[ WHPK I` [OL I\`LY PU [LYTZ VM :LJ[PVU VM [OL 4:4,+ (J[ HSVUN ^P[O [OL HTV\U[Z VM [OL WH`TLU[ THKL [V [OL supplier beyond the appointed day during each accounting year The amount of inerest due and payable for the year for delay in making WH`TLU[ ^OPJO OH]L ILLU WHPK I\[ IL`VUK [OL HWWVPU[LK KH` K\YPUN [OL `LHY I\[ ^P[OV\[ HKKPUN [OL PU[LYLZ[ ZWLJPÄLK \UKLY 4:4,+ (J[ The amount of interest accrued and remaining unpaid at the end of the accounting year The amount of further interest remaining due and payable even in the Z\JJLLKPUN `LHYZ \U[PS Z\JO KH[L ^OLU [OL PU[LYLZ[ K\LZ HZ HIV]L HYL actually paid to the small enterprise for the purpose of disallowance as a KLK\J[PISL L_WLUKP[\YL \UKLY :LJ[PVU VM 4:4,+ (J[

154 HT MEDIA LIMITED

As at March 31, 2017

As at March 31, 2016

As at April 1, 2015

3.13 -

1.83 -

-

-

-

-

1.83

-

-

-

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 44

45

0U HJJVYKHUJL ^P[O [OL VWPUPVU VM ,_WLY[ (K]PZVY` *VTTP[[LL ,(* VM º;OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH» PZZ\LK PU [OL TVU[O VM 4HYJO [OL *VTWHU` OHZ JVUZVSPKH[LK [OL ÄUHUJPHS Z[H[LTLU[Z VM /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ ¸;Y\Z[¹ PU [OL Z[HUKHSVUL ÄUHUJPHS Z[H[LTLU[Z VM [OL *VTWHU` (JJVYKPUNS` [OL HTV\U[ VM loan of ` 3HJZ 4HYJO ! ` 3HJZ HUK (WYPS ! ` 3HJZ V\[Z[HUKPUN PU [OL UHTL VM ;Y\Z[ PU [OL IVVRZ VM [OL *VTWHU` H[ [OL `LHY LUK OHZ been eliminated against the amount of loan outstanding PU [OL UHTL VM *VTWHU` HWWLHYPUN PU [OL IVVRZ VM ;Y\Z[ H[ [OL `LHY LUK -\Y[OLY [OL PU]LZ[TLU[ VM ` 3HJZ 4HYJO ! ` 3HJZ HUK (WYPS ! ` 3HJZ THKL I` [OL ;Y\Z[ PU [OL LX\P[` ZOHYLZ VM [OL *VTWHU` [OYV\NO ZLJVUKHY` THYRL[ OHZ ILLU ZOV^U HZ KLK\J[PVU MYVT [OL :OHYL *HWP[HS [V [OL L_[LU[ VM MHJL ]HS\L VM [OL ZOHYLZ B` 3HJZ 4HYJO ! ` 3HJZ HUK (WYPS ! ` D HUK :LJ\YP[PLZ Premium Account to the extent of amount exceeding face ]HS\L VM LX\P[` ZOHYLZ B` 3HJZ 4HYJO ! ` 3HJZ HUK (WYPS ! ` 3HJZ D -\Y[OLY [OL HTV\U[ VM KP]PKLUK VM ` 3HJZ 4HYJO ! ` 3HJZ YLJLP]LK I` [OL ;Y\Z[ MYVT [OL *VTWHU` K\YPUN [OL `LHY LUK OHZ ILLU HKKLK IHJR [V [OL Z\YWS\Z PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ

0U [LYTZ VM [OL :JOLTL VM (YYHUNLTLU[ HUK 9LZ[Y\J[\YPUN \ Z YLHK ^P[O :LJ[PVUZ VM [OL *VTWHUPLZ (J[ IL[^LLU [OL *VTWHU` HUK /; 4\ZPJ HUK ,U[LY[HPUTLU[ *VTWHU` 3PTP[LK +LTLYNLK *VTWHU` HZ HWWYV]LK I` [OL /VU»ISL +LSOP /PNO *V\Y[ [OL HZZL[Z HUK SPHIPSP[PLZ VM [OL YHKPV I\ZPULZZ VM [OL +LTLYNLK JVTWHU` ^LYL [HRLU V]LY HZ H[ 1HU\HY` 6UL ;PTL ,U[Y` -LLZ 6;,- WHPK MVY HJX\PYPUN SPJLUZL MVY 9HKPV I\ZPULZZ WHPK I` [OL +LTLYNLK *VTWHU` PU LHYSPLY `LHYZ ^OPJO ^HZ JHWP[HSPaLK HUK HTVY[PaLK VU Z[YHPNO[ SPUL IHZPZ PZ now amortized against the credit balance of Securities Premium Account instead of charging to the statement of WYVÄ[ HUK SVZZ V]LY [OL \ZLM\S SPML VM [OL ZHPK SPJLUZLZ VY [OLPY \UL_WPYLK WLYPVK ^OPJOL]LY PZ SV^LY MYVT KH[L VM 4LYNLY VM 9HKPV I\ZPULZZ HZ WLY [OL HWWYV]LK :JOLTL *VUZLX\LU[S` HU HTV\U[ VM ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ [V^HYKZ HTVY[PaH[PVU VM 9HKPV 3PJLUZLZ OHZ been debited to the Securities Premium Account.

46 +L[HPSZ VM 3VHUZ HUK (K]HUJLZ [V Z\IZPKPHYPLZ HZZVJPH[LZ HUK ÄYT JVTWHUPLZ PU ^OPJO KPYLJ[VYZ HYL PU[LYLZ[LK HZ YLX\PYLK I` JSH\ZL VM 3PZ[PUN (NYLLTLU[

` PU 3HJZ Particulars

As at March 31, 2017

As at March 31, 2016

As at April 1, 2015

Loans and Advances to subsidiaries /; +PNP[HS 4LKPH /VSKPUNZ 3PTP[LK Maximum amount due at any time during the year *SVZPUN )HSHUJL H[ [OL LUK VM [OL `LHY

-

-

- Ivy Talent India Private Limited Maximum amount due at any time during the year *SVZPUN )HSHUJL H[ [OL LUK VM [OL `LHY

-

-

47 H *HWP[HS (K]HUJLZ PUJS\KL ` SHJZ 4HYJO ! ` 3HJZ HUK (WYPS ! ` 3HJZ WHPK [V^HYKZ *VTWHU`»Z WYVWVY[PVUH[L ZOHYL MVY YPNO[ [V \ZL PU [OL *VTTVU 0UMYHZ[Y\J[\YL MVY JOHUULS [YHUZTPZZPVU MVY P[Z MV\Y Z[H[PVUZ [V IL I\PS[ on land owned by Prasar Bharti and to be used by all the broadcasters at respective stations as per the [LYTZ VM IPK KVJ\TLU[ VU -4 9HKPV )YVHKJHZ[PUN 7OHZL 00 I +\YPUN [OL WYL]PV\Z `LHY [OL *VTWHU` OHK SH\UJOLK P[Z ZLJVUK YHKPV Z[H[PVU 9HKPV 5HZOH -4 PU +LSOP ;OL JVTTLYJPHS SH\UJO VM 9HKPV 5HZOH

-4 PU +LSOP VU 4HYJO ^HZ [OL ÄYZ[ VM [OL WOHZL 000 YHKPV SH\UJOLZ I` [OL *VTWHU` ^OPJO OHK HJX\PYLK UL^ MYLX\LUJPLZ HJYVZZ +LSOP 4\TIHP /`KLYHIHK HUK <7 K\YPUN [OL WOHZL 000 YHKPV SPJLUJL H\J[PVU MVY ]HSPKP[` VM `LHYZ HNHPUZ[ IPK Z MVY HU HNNYLNH[L 5VU 9LM\UKHISL 6UL [PTL ,U[Y` -LL VM ` 3HJZ +\YPUN [OL `LHY [OL *VTWHU` OHZ JHWP[HSPaLK [OL YLTHPUPUN YHKPV JOHUULSZ

48 Capitalized Expenditure +\YPUN [OL `LHY [OL JVTWHU` OHZ JHWP[HSPaLK [OL MVSSV^PUN L_WLUZLZ VM YL]LU\L UH[\YL [V [OL JVZ[ VM Ä_LK HZZL[ JHWP[HS ^VYR PU WYVNYLZZ *>07 *VUZLX\LU[S`

ANNUAL REPORT 2016-17 155

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 expenses disclosed under the respective notes are net of amounts capitalized by the company. ` PU 3HJZ Particulars

As at March 31, 2017

As at March 31, 2016

:HSHYPLZ ^HNLZ HUK IVU\Z 9LU[ Miscellaneous expenses Travelling and conveyance

-

Total

-

222.42

49 Disclosure required under Section 186(4) of the Companies Act, 2013 0UJS\KLK PU SVHUZ HUK HK]HUJLZ SVHUZ [V ,TWSV`L :[VJR 6W[PVU ;Y\Z[ [OL WHY[PJ\SHYZ VM ^OPJO HYL KPZJSVZLK PU ILSV^ HZ YLX\PYLK I` :LJ VM *VTWHUPLZ (J[ ! ` PU 3HJZ Name of the Loanee

Rate of Interest

Due Date

Secured/ Unsecured

As at March 31, 2017

As at March 31, 2016

As at April 1, 2015

/; .YV\W *VTWHUPLZ ,TWSV`LL Stock Option Trust

0U[LYLZ[ -YLL NA

<UZLJ\YLK

/; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[

0U[LYLZ[ -YLL NA

<UZLJ\YLK

-VY KL[HPSLK WHY[PJ\SHYZ HUK W\YWVZL VM HIV]L SVHUZ YLMLY UV[L ;OL SVHU NP]LU [V /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ OHZ ILLU LSPTPUH[LK VU JVUZVSPKH[PVU VM /; 4LKPH ,TWSV`LL >LSMHYL ;Y\Z[ PU [OL Z[HUKHSVUL ÄUHUJPHS Z[H[LTLU[Z VM [OL *VTWHU` YLMLY UV[L -VY KL[HPSZ VM SVHUZ HUK HK]HUJLZ WYV]PKLK [V YLSH[LK WHY[PLZ YLMLY UV[L +L[HPSZ VM 0U]LZ[TLU[Z THKL HYL NP]LU \UKLY 5V[L ( HUK )

50 Specified Bank Notes (SBNs) 4PUPZ[Y` 6M *VYWVYH[L (MMHPYZ PZZ\LK HU HTLUKTLU[ [V :JOLK\SL 000 VM [OL *VTWHUPLZ (J[ YLNHYKPUN NLULYHS PUZ[Y\J[PVUZ MVY WYLWHYH[PVU VM )HSHUJL :OLL[ [V KPZJSVZL [OL KL[HPSZ VM :WLJPÄLK )HUR 5V[LZ :)5 OLSK HUK [YHUZHJ[LK K\YPUN [OL WLYPVK 5V]LTILY [V +LJLTILY The aforesaid disclosure is as follows: ` PU 3HJZ Particulars Closing cash in hand - November 8, 2016 7LYTP[[LK YLJLPW[Z - Permitted payments - Amount deposited into banks Closing cash in hand - December 30, 2016

SBNs

Other denomination notes

Total

73,72,500

1,62,254

75,34,754

-

15,55,213

15,55,213

,_WSHUH[PVU! -VY [OL W\YWVZLZ VM [OPZ JSH\ZL [OL [LYT º:WLJPÄLK )HUR 5V[LZ» :)5 ZOHSS OH]L [OL ZHTL TLHUPUN WYV]PKLK PU [OL UV[PÄJH[PVU VM [OL .V]LYUTLU[ VM 0UKPH PU [OL 4PUPZ[Y` VM -PUHUJL +LWHY[TLU[ VM ,JVUVTPJ (MMHPYZ U\TILY : 6 , KH[LK [OL 5V]LTILY ;OL HMVYLZHPK KPZJSVZ\YLZ VM :)5»Z OH]L ILLU JVTWPSLK IHZPZ IHUR JVUÄYTH[PVUZ HUK JVTWPSH[PVU VM WH` PU ZSPWZ

156 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 51. DETAILS OF CSR EXPENDITURE 7\YZ\HU[ [V [OL HWWSPJHIPSP[` VM *:9 *VYWVYH[L :VJPHS 9LZWVUZPIPSP[` WYV]PZPVUZ VM [OL *VTWHUPLZ (J[ [OL *VTWHU` OHZ THKL [OL YLX\PZP[L L_WLUKP[\YL [V^HYKZ *:9 HZ WLY KL[HPSZ ILSV^ ! H .YVZZ HTV\U[ YLX\PYLK [V IL ZWLU[ I` [OL *VTWHU` K\YPUN [OL `LHY PZ ` SHJZ 4HYJO ! ` SHJZ I +L[HPSZ VM HTV\U[ ZWLU[ K\YPUN [OL `LHY LUKLK 4HYJO

Amount spent /contributed Amount spent: Direct or on the projects or through implementing programs (` in lacs) agency

Sr. No.

CSR Project or HJ[P]P[` PKLU[PÄLK

1

Promoting education including special education and employment LUOHUJPUN ]VJH[PVUHS ZRPSSZ LZWLJPHSS` HTVUN JOPSKYLU ^VTLU elderly and differently abled and livelihood enhancement projects

*OPSKOVVK LK\JH[PVU [V HNL NYV\WZ @LHYZ

3

=VJH[PVUHS ZRPSS [YHPUPUN MVY NPYSZ

4

Promoting education including special education and employment LUOHUJPUN ]VJH[PVUHS ZRPSSZ LZWLJPHSS` HTVUN JOPSKYLU ^VTLU elderly and differently abled and livelihood enhancement projects

;OYV\NO /; -V\UKH[PVU MVY change

Promoting education including special education and employment LUOHUJPUN ]VJH[PVUHS ZRPSSZ LZWLJPHSS` HTVUN JOPSKYLU ^VTLU elderly and differently abled and livelihood enhancement projects

;OYV\NO :H]L ;OL *OPSKYLU

7YV[LJ[PVU VM UH[PVUHS OLYP[HNL HY[ J\S[\YL PUJS\KPUN YLZ[VYH[PVU VM building & sites of historical importance

+PYLJ[ [OYV\NO implementing agency

Promoting education

Through Implementing HNLUJ` /;-*

;OYV\NO :OPUL -V\UKH[PVU

;OYV\NO 7YH[OHT +LSOP ,K\JH[PVU 0UP[PH[P]L Through Himalayan School Society

Total

330.00

J +L[HPSZ VM HTV\U[ ZWLU[ K\YPUN [OL `LHY LUKLK 4HYJO Amount spent/contributed Amount spent : on the projects or Direct or through programs (` in lacs) implementing agency

Sr. No.

CSR Project or HJ[P]P[` PKLU[PÄLK

1

Promoting education amongst disadvantaged children via the @V\ 9LHK ;OL` 3LHYU WYVNYHT

7YVTV[PUN WYPTHY` LK\JH[PVU [V JOPSKYLU ]VJH[PVUHS JV\YZLZ for youth and women for income generation and health care

3

*OPSKYLU LK\JH[PVU WYVNYHTTLZ

;OYV\NO *9@ *OPSK 9PNO[Z HUK You

4

*OPSKOVVK LK\JH[PVU [V HNL NYV\WZ @LHYZ

;OYV\NO 7YH[OHT +LSOP ,K\JH[PVU Initiative

=VJH[PVUHS ZRPSS [YHPUPUN MVY NPM[Z

Total

(TV\U[ JVSSLJ[LK \UKLY @V\ 9LHK They Learn" paid out through /; -V\UKH[PVU MVY *OHUNL [V [OL ZLSLJ[LK 5.6 WHY[ULYZ MVY promoting education ;OYV\NO :OPUL -V\UKH[PVU

Through Himalayan School Society 244.84

ANNUAL REPORT 2016-17 157

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 52. FIRST-TIME ADOPTION OF IND-AS

;OLZL ÄUHUJPHS Z[H[LTLU[Z MVY [OL `LHY LUKLK 4HYJO HYL [OL ÄYZ[ [OL JVTWHU` OHZ WYLWHYLK PU HJJVYKHUJL ^P[O 0UK (: -VY WLYPVKZ \W [V HUK PUJS\KPUN [OL `LHY LUKLK 4HYJO [OL JVTWHU` WYLWHYLK P[Z ÄUHUJPHS Z[H[LTLU[Z PU HJJVYKHUJL ^P[O HJJV\U[PUN Z[HUKHYKZ UV[PÄLK \UKLY ZLJ[PVU VM [OL *VTWHUPLZ (J[ YLHK [VNL[OLY ^P[O WHYHNYHWO VM [OL JVTWHU`»Z (JJV\U[Z 9\SLZ 0UKPHU .((7 (JJVYKPUNS` [OL JVTWHU` OHZ WYLWHYLK ÄUHUJPHS statements which comply with Ind-AS applicable MVY WLYPVKZ LUKPUN VU 4HYJO [VNL[OLY ^P[O the comparative period data as at and for the year LUKLK 4HYJO HZ KLZJYPILK PU [OL Z\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ 0U WYLWHYPUN [OLZL ÄUHUJPHS Z[H[LTLU[Z [OL JVTWHU`»Z VWLUPUN IHSHUJL ZOLL[ ^HZ WYLWHYLK HZ H[ (WYPS [OL JVTWHU`»Z date of transition to Ind-AS. This note explains the principal adjustments made by the company PU YLZ[H[PUN P[Z 0UKPHU .((7 ÄUHUJPHS Z[H[LTLU[Z PUJS\KPUN [OL IHSHUJL ZOLL[ HZ H[ (WYPS HUK [OL ÄUHUJPHS Z[H[LTLU[Z HZ H[ HUK MVY [OL `LHY LUKLK 4HYJO

2

Exemptions and exceptions availed

:L[ V\[ ILSV^ HYL [OL HWWSPJHISL 0UK (: VW[PVUHS exemptions and mandatory exceptions applied in the [YHUZP[PVU MYVT WYL]PV\Z .((7 [V 0UK (:

A I

Ind-AS optional exemptions Deemed Cost The company has elected to regard the carrying value VM 77, HUK PU[HUNPISL HZZL[Z HZ WLY WYL]PV\Z .((7 HZ its deemed cost at the date of the transition to Ind-AS. This exemption has been used for intangible assets covered by Ind-AS 38.

158 HT MEDIA LIMITED

II

Leases The company has applied the transitional provision PU (WWLUKP_ * VM 0UK (: +L[LYTPUPUN ^OL[OLY HU arrangement contains a Lease and has assessed all arrangements based upon the conditions in place as at the date of transition.

III

Fair value measurement of financial assets and liabilities <UKLY 0.((7 [OL ÄUHUJPHS HZZL[Z HUK SPHIPSP[PLZ were being carried at the transaction value. -PYZ[ [PTL HKVW[LYZ TH` HWWS` 0UK (: [V KH` VUL gain or loss provisions prospectively to transactions occurring on or after the date of transition to 0UK (: ;OLYLMVYL \USLZZ H ÄYZ[ [PTL HKVW[LY LSLJ[Z [V HWWS` 0UK (: YL[YVZWLJ[P]LS` [V KH` VUL NHPU VY SVZZ [YHUZHJ[PVU [YHUZHJ[PVUZ [OH[ VJJ\YYLK WYPVY to the date of transition to Ind-AS do not need to be retrospectively restated.

IV

Government grants ;OL JVTWHU` OHZ HWWSPLK 0UK (: WYVZWLJ[P]LS` [V government grants existing at the date of transition to Ind-AS.

V

Business combinations ;OL *VTWHU` OHZ \ZLK [OL L_LTW[PVU \UKLY 0UK (: H[ [OL KH[L VM [YHUZP[PVU [V 0UK (: P L JHYY`PUN HTV\U[Z VM HZZL[Z HUK SPHIPSP[PLZ [OH[ HYL YLX\PYLK [V IL YLJVNUPaLK \UKLY 0UK (: PZ [OLPY KLLTLK JVZ[ H[ [OL KH[L VM HJX\PZP[PVU (M[LY [OL KH[L VM HJX\PZP[PVU measurement is in accordance with the respective 0UK (: ;OL *VTWHU` YLJVNUPZLZ HSS HZZL[Z HUK liabilities assumed in a past business combination.

VI

Share Based Payment Transactions ;OL *VTWHU` OHZ H]HPSLK L_LTW[PVU \UKLY 0UK (: PU YLZWLJ[ VM :OHYL IHZLK WH`TLU[Z [OH[ OHK

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 consistent with estimates made for the same date PU HJJVYKHUJL ^P[O 0UKPHU .((7 HM[LY HKQ\Z[TLU[Z [V YLÃ…LJ[ HU` KPMMLYLUJL PU HJJV\U[PUN WVSPJPLZ HWHY[ from the following items where application of Indian .((7 KPK UV[ YLX\PYL LZ[PTH[PVU !

ILLU ]LZ[LK ILMVYL [OL [YHUZP[PVU KH[L ;OL *VTWHU` OHZ LSLJ[LK [V H]HPS [OPZ L_LTW[PVU HUK HJJVYKPUNS` vested options have been measured at intrinsic value. VII

Embedded Derivatives The company has evaluated all its agreements on the basis of conditions that existed at the later of the date P[ ÄYZ[ ILJHTL H WHY[` [V [OL JVU[YHJ[ HUK [OL KH[L VM reassessment.

VIII Investments in subsidiaries and associates H 0U ZLWHYH[L ÄUHUJPHS Z[H[LTLU[Z H ÄYZ[ [PTL HKVW[LY [OH[ Z\IZLX\LU[S` TLHZ\YLZ HU PU]LZ[TLU[ PU H Z\IZPKPHY` HUK HZZVJPH[L H[ JVZ[ TH` TLHZ\YL Z\JO investment at cost or deemed cost in its separate opening Ind-AS balance sheet. Selection of fair value VY WYL]PV\Z .((7 JHYY`PUN HTV\U[ MVY KL[LYTPUPUN KLLTLK JVZ[ JHU IL KVUL MVY LHJO Z\IZPKPHY` associate and joint venture. I

B H

;OL *VTWHU` PZ TLHZ\YPUN P[Z PU]LZ[TLU[ PU Z\IZPKPHYPLZ and associate at cost at the transition date. Ind-AS mandatory exemptions Estimates ;OL JVTWHU`»Z LZ[PTH[LZ PU HJJVYKHUJL ^P[O Ind-AS at the date of transition to Ind-AS are

0TWHPYTLU[ VM ÄUHUPJHS HZZL[Z IHZLK VU L_WLJ[LK credit loss model The estimates used by the company to present these HTV\U[Z PU HJJVYKHUJL ^P[O 0UK (: YLÅLJ[ JVUKP[PVUZ HZ H[ [OL [YHUZP[PVU KH[L HUK HZ VM 4HYJO

I

0UK (: [YLH[Z [OL PUMVYTH[PVU YLJLP]LK HM[LY [OL date of transition to Ind-AS as non-adjusting events. ;OL LU[P[` ZOHSS UV[ YLÃ…LJ[ [OH[ UL^ PUMVYTH[PVU PU P[Z VWLUPUN 0UK (: )HSHUJL :OLL[ \USLZZ [OL LZ[PTH[LZ need adjustment for any differences in accounting policies or there is objective evidence that the LZ[PTH[LZ ^LYL PU LYYVY

;OL WYLZLU[H[PVU YLX\PYLTLU[Z \UKLY 0UKPHU .((7 KPMMLYZ MYVT 0UK (: HUK OLUJL 0UKPHU .((7 PUMVYTH[PVU OHZ been regrouped for ease of reconciliation with Ind-AS. ;OL 9LNYV\WLK 0UKPHU .((7 PUMVYTH[PVU PZ KLYP]LK MYVT [OL -PUHUJPHS :[H[LTLU[Z VM [OL *VTWHU` WYLWHYLK PU HJJVYKHUJL ^P[O 0UKPHU .((7

ANNUAL REPORT 2016-17 159

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 52A. Reconciliation of equity as at April 1, 2015 (date of transition to Ind-AS) ` PU 3HJZ Particulars Assets Non-current assets 7YVWLY[` WSHU[ HUK LX\PWTLU[ *HWP[HS ^VYR PU WYVNYLZZ Investment properties Intangible assets Intangible assets under development Investment in subsidiary and associates -PUHUJPHS HZZL[Z Investments Loans Others Income Tax Assets Other non-current assets Current assets Inventories -PUHUJPHS HZZL[Z Investments Trade receivables *HZO HUK JHZO LX\P]HSLU[Z Other Bank Balances Loans 6[OLY ÄUHUJPHS HZZL[Z Other current assets Total assets Equity and liabilities Equity ,X\P[` ZOHYL JHWP[HS 6[OLY LX\P[` Total equity Non-current liabilities -PUHUJPHS SPHIPSP[PLZ Borrowings Trade Payables Provision +LMLYYLK [H_ SPHIPSP[PLZ Other non-current liabilities Current liabilities -PUHUJPHS SPHIPSP[PLZ Borrowings Trade payables 6[OLY ÄUHUJPHS SPHIPSP[PLZ Provisions *\YYLU[ [H_ SPHIPSP[` Other current liabilities Total liabilities Total equity and liabilities

160 HT MEDIA LIMITED

Footnotes

X k

f

f

h

a f

g r f

H N b L X

Regrouped Indian GAAP

Ind-AS Adjustment

Ind-AS

-

-

2,51,573.05

1,899.12

2,53,472.17

1,50,146.93

2,736.76

1,52,883.69

1,01,426.12 2,51,573.05

(837.64) 1,899.12

1,00,588.48 2,53,472.17

A

01-15

B

About HT Media

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Reconciliation of equity as at March 31, 2016 ` PU 3HJZ Particulars

Assets Non-current assets 7YVWLY[` WSHU[ HUK LX\PWTLU[ *HWP[HS ^VYR PU WYVNYLZZ Investment properties Intangible assets Intangible assets under development Investment in subsidiary and associates -PUHUJPHS HZZL[Z Investments Loans 6[OLY ÄUHUJPHS HZZL[Z Income Tax Assets Other non-current assets Current assets Inventories -PUHUJPHS HZZL[Z Investments Trade receivables *HZO HUK JHZO LX\P]HSLU[Z Other Bank Balances Loans 6[OLY ÄUHUJPHS HZZL[Z Other current assets Total assets Equity and liabilities Equity ,X\P[` ZOHYL JHWP[HS 6[OLY LX\P[` Total equity Non-current liabilities -PUHUJPHS SPHIPSP[PLZ Borrowings Trade Payables Provision +LMLYYLK [H_ SPHIPSP[PLZ Other non-current liabilities Current liabilities -PUHUJPHS SPHIPSP[PLZ Borrowings Trade payables 6[OLY ÄUHUJPHS SPHIPSP[PLZ Provisions *\YYLU[ ;H_ 3PHIPSP[` Other current liabilities Total liabilities Total equity and liabilities

Footnotes

X Q j k j

f

h

a f

g r f

H N b L X

Regrouped Indian GAAP

Ind-AS Adjustment

Ind-AS

-

-

3,22,236.64

997.73

3,23,234.37

1,59,202.00

1,165.36

1,60,367.36

1,63,034.64 3,22,236.64

(167.63) 997.73

1,62,867.01 3,23,234.37

ANNUAL REPORT 2016-17 161

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 52B. Reconciliation of Total Comprehensive Income for the year ended March 31, 2016 ` PU 3HJZ

Particulars

Income 9L]LU\L MYVT VWLYH[PVUZ Other Income

Footnotes

K L S L M W X

Total Income Expenses *VZ[ VM TH[LYPHSZ JVUZ\TLK 0UJYLHZL KLJYLHZL PU PU]LU[VYPLZ ,TWSV`LL ILULÄ[Z L_WLUZL -PUHUJL JVZ[Z +LWYLJPH[PVU HUK HTVY[PaH[PVU L_WLUZL Other expenses

c H P R X K M N S W T Q U

Total expenses 7YVÄ[ SVZZ ILMVYL L_JLW[PVUHS P[LTZ HUK [H_ MYVT continuing operations Exceptional items 7YVÄ[ SVZZ ILMVYL [H_ MYVT JVU[PU\PUN VWLYH[PVUZ Earnings before interest, tax, exceptional items, depreciation and amortization (EBITDA)

Ind-AS Adjustment (ReRegrouped measurement Indian GAAP and ReJSHZZPÄJH[PVU

Ind-AS

1,60,101.66

360.64

1,60,462.30

-

1,41,052.35

358.51

1,41,410.86

-

21,153.31

2.13

21,155.44

-from continuing operations -from discontinuing operations

-

Total Earnings before interest, tax, exceptional items, depreciation and amortization (EBITDA)

22,679.30

178.05

22,857.35

7YVÄ[ MYVT *VU[PU\PUN VWLYH[PVUZ HM[LY [H_ 7YVÄ[ SVZZ MYVT KPZJVU[PU\LK VWLYH[PVUZ ;H_ JOHYNL JYLKP[ PUJS\KPUN KLMMLYLK [H_ VM KPZJVU[PU\LK operations

16,323.00

(1,454.41) -

14,868.59

7YVÄ[ SVZZ MYVT +PZJVU[PU\LK VWLYH[PVUZ HM[LY [H_ 7YVÄ[ SVZZ MVY [OL `LHY Other Comprehensive Income 0[LTZ [OH[ ^PSS UV[ [V IL YLJSHZZPÄLK [V WYVÄ[ VY SVZZ 9LTLHZ\YLTLU[ NHPU SVZZ VU KLÄULK ILULÄ[ WSHUZ Income tax impact 6[OLY JVTWYLOLUZP]L PUJVTL MVY [OL `LHY UL[ VM [H_

-

10,799.34

(1,454.41)

9,344.93

-

10,799.34

(1,569.77)

9,229.57

Current tax 7LY[HPUPUN [V WYVÄ[ MVY J\YYLU[ WLYPVK Adjustment of tax related to earlier periods +LMLYYLK [H_ JOHYNL JYLKP[

Total Comprehensive Income for the year, net of tax

162 HT MEDIA LIMITED

r

c c

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 Footnotes to the reconciliation of equity as at April 1, e. HUK 4HYJO HUK WYVÄ[ VY SVZZ MVY [OL `LHY ended March 31, 2016 a.

Derivative instruments The fair value of forward foreign exchange contracts and foreign currency options is recognised under Ind(: HUK ^HZ UV[ YLJVNUPZLK \UKLY 0UKPHU .((7 6U [OL KH[L VM [YHUZP[PVU PTWHJ[ VM ` SHJZ PU V[OLY ÄUHUJPHS HZZL[Z HZ H[ (WYPS HUK ` SHJZ VU V[OLY ÄUHUJPHS HZZL[Z HZ H[ 4HYJO

b.

Proposed Dividend and tax thereon <UKLY 0UKPHU .((7 KP]PKLUKZ WYVWVZLK I` [OL board of directors after the balance sheet date but f. ILMVYL [OL HWWYV]HS VM [OL ÄUHUJPHS Z[H[LTLU[Z ^LYL JVUZPKLYLK HZ HKQ\Z[PUN L]LU[Z (JJVYKPUNS` provision for proposed dividend was recognised as a SPHIPSP[` <UKLY 0UK (: Z\JO KP]PKLUKZ HYL YLJVNUPZLK when the same is approved by the shareholders in the HUU\HS NLULYHS TLL[PUN (JJVYKPUNS` [OL SPHIPSP[` MVY proposed dividend of ` 3HJZ HZ H[ 4HYJO (WYPS ¶ ` 3HJZ PUJS\KLK \UKLY provisions has been reversed with corresponding HKQ\Z[TLU[ [V YL[HPULK LHYUPUNZ *VUZLX\LU[S` [OL [V[HS LX\P[` PUJYLHZLK I` HU LX\P]HSLU[ HTV\U[

J 9LTLHZ\YLTLU[Z VM WVZ[ LTWSV`TLU[ ILULÄ[ obligations )V[O \UKLY 0UKPHU .((7 HUK 0UK (: [OL *VTWHU` recognised costs related to its post-employment KLÄULK ILULÄ[ WSHU VU HU HJ[\HYPHS IHZPZ <UKLY 0UKPHU .((7 [OL LU[PYL JVZ[ PUJS\KPUN HJ[\HYPHS NHPUZ HUK SVZZLZ HYL JOHYNLK [V WYVÄ[ VY SVZZ <UKLY 0UK (: YLTLHZ\YLTLU[Z BJVTWYPZPUN VM HJ[\HYPHS NHPUZ HUK SVZZLZ [OL LMMLJ[ VM [OL HZZL[ JLPSPUN g. excluding amounts included in net interest on the net KLÄULK ILULÄ[ SPHIPSP[` HUK [OL YL[\YU VU WSHU HZZL[Z excluding amounts included in net interest on the net KLÄULK ILULÄ[ SPHIPSP[`D HYL YLJVNUPZLK PTTLKPH[LS` PU the balance sheet with a corresponding debit or credit [V YL[HPULK LHYUPUNZ [OYV\NO 6*0 ;O\Z [OL LTWSV`LL ILULÄ[ JVZ[ PZ YLK\JLK I` ` SHJZ ^P[O H [H_ impact of ` SHJZ HUK YLTLHZ\YLTLU[ NHPUZ SVZZLZ VU KLÄULK ILULÄ[ WSHUZ OHZ ILLU YLJVNUPaLK PU [OL 6*0 UL[ VM [H_ h. d. Agent Commission Paid <UKLY 0UKPHU .((7 ZLY]PJL JOHYNLZ WHPK VU advertisement revenue is deducted from revenue. As WLY 0UK (: [OL ZHTL OHZ [V IL ZOV^U \UKLY V[OLY expenses. Hence service charges amounting to ` 3HJZ OHZ ILLU YLJSHZZPÄLK HZ HU L_WLUZL MVY [OL `LHY LUKLK 4HYJO

Extended credit given (Z WLY 0UK (: PM [OLYL PZ H ZPNUPÄJHU[ SHN IL[^LLU when the good or services are provided and the consideration is received the time value of money ZOV\SK HSZV IL [HRLU PU[V HJJV\U[ ;OH[ PZ KLMLYYLK payments might indicate that there is both a sale HUK H ÄUHUJPUN [YHUZHJ[PVU 0M [OLYL PZ H ÄUHUJPUN element it is necessary to discount the consideration to present value in order to arrive at fair value. On the KH[L VM [YHUZP[PVU PTWHJ[ VM ` SHJZ PU VWLUPUN YL[HPULK LHYUPUNZ HZ H[ (WYPS HUK ` SHJZ VU YL[HPULK LHYUPUNZ HZ H[ 4HYJO ;OL corresponding increase is accounted in other current liabilities. Fair value of security deposit <UKLY 0UKPHU .((7 HSS [OL ZLJ\YP[` KLWVZP[Z NP]LU [V the lessor are recorded at transaction value. Ind-AS YLX\PYLZ ÄUHUJPHS HZZL[Z ^OPJO HYL JSHZZPÄLK HZ amotized cost to be initially measured at fair value and Z\IZLX\LU[S` H[ HTVY[PaLK JVZ[ \ZPUN [OL LMMLJ[P]L PU[LYLZ[ TL[OVK ,09 (JJVYKPUNS` :LJ\YP[` KLWVZP[Z HYL KPZJV\U[LK [V be recognised at amortized cost. The excess of the principal amount of the deposit over its fair value is HJJV\U[LK MVY HZ WYLWHPK SLHZL L_WLUZL PUJVTL HUK amortized over the lease term on a SLM basis. Interest VU [OL KLWVZP[ PZ HJJV\U[LK MVY \ZPUN [OL LMMLJ[P]L PU[LYLZ[ YH[L ,09 TL[OVK *VUZLX\LU[ [V [OPZ JOHUNL [OL HTV\U[ VM ZLJ\YP[` KLWVZP[Z KLJYLHZLK by ` SHJZ HZ H[ 4HYJO (WYPS ¶ ` SHJZ ;OL WYLWHPK YLU[ PUJYLHZLK I` ` SHJZ HZ H[ 4HYJO (WYPS ` SHJZ Straight lining of lease escalation 0UKPHU .((7 THUKH[L Z[YHPNO[ SPUPUN VM SLHZL escalation in case of non cancellable leases. 0UK (: KVLZ UV[ THUKH[L Z[YHPNO[ SPUPUN VM SLHZL LZJHSH[PVU PM [OL` HYL PU SPUL ^P[O [OL L_WLJ[LK NLULYHS PUÃ…H[PVU JVTWLUZH[PUN [OL SLZZVY MVY L_WLJ[LK PUÃ…H[PVUHY` JVZ[ :V [OL JVTWHU` OHZ YL]LYZLK 3LHZL LX\HSPZH[PVU YLZLY]L JYLH[LK PU IVVRZ HTV\U[PUN [V ` SHJZ HZ VU (WYPS HUK ` SHJZ HZ VU 4HYJO Expected credit note <UKLY 0UKPHU .((7 [OL JVTWHU` IVVRZ JYLKP[ UV[L ^OLU P[ PZ PZZ\LK WYV]PZPVU MVY JYLKP[ UV[L PZ UV[ considered in its shine and radio business. As per 7HYH VM 0UK (: PM HU LU[P[` YL[HPUZ VUS` HU PUZPNUPÄJHU[ YPZR VM V^ULYZOPW [OL [YHUZHJ[PVU PZ H ZHSL HUK YL]LU\L PZ YLJVNUPZLK 9L]LU\L PU Z\JO JHZLZ is recognised at the time of sale provided the seller can reliably estimate future returns and recognises a

ANNUAL REPORT 2016-17 163

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 liability for returns based on previous experience and other relevant factors.

i.

j.

k.

l.

(JJVYKPUNS` [OL JVTWHU` OHZ YLK\JLK [OL JHYY`PUN value of trade receivables for expected credit note HZ VU [YHUZP[PVU KH[L HUK HZ VU 4HYJO amounting to ` SHJZ Premium on interest rate swap portion of foreign currency options <UKLY 0UKPHU .((7 WYLTP\T WLY[HPUPUN [V 0U[LYLZ[ 9H[L :^HW WVY[PVU VM H JVTWVZP[L VW[PVU ^HZ MHPY ]HS\LK HUK JOHYNLK VMM HJJVYKPUNS` HZ ÄUHUJL JVZ[ /V^L]LY \UKLY 0UK (: [OL ZHTL PZ JOHYNLK IHZPZ [OL YH[LZ HZ WLY [OL JVU[YHJ[ (JJVYKPUNS` ÄUHUJL JVZ[Z MVY [OL WLYPVK LUKLK 4HYJO OHZ PUJYLHZLK I` ` SHJZ Premium paid on derivative contracts and fair valuation thereof <UKLY 0UKPHU .((7 WYLTP\T WHPK VU KLYP]H[P]L contracts with respect to foreign currency monetary SPHIPSP[PLZ YLSH[LK [V HJX\PZP[PVU VM Ä_LK HZZL[Z HUK fair value loss on the aforesaid derivative contracts were adjusted to the carrying amount of the related [HUNPISL HUK PU[HUNPISL Ä_LK HZZL[Z /V^L]LY \UKLY 0UK (: [OL WYLTP\T HUK THYR [V THYRL[ NHPU SVZZ of aforesaid derivative contracts have been charged VMM [V [OL :[H[LTLU[ VM ;V[HS *VTWYLOLUZP]L 0UJVTL (JJVYKPUNS` HZ VU 4HYJO HKQ\Z[TLU[ amounting to ` SHJZ ` SHJZ HUK ` SHJZ OHZ ILLU THKL [V [OL JHYY`PUN HTV\U[Z VM 7YVWLY[` 7SHU[ HUK ,X\PWTLU[ 0U[HUNPISL (ZZL[Z *HWP[HS ^VYR PU WYVNYLZZ YLZWLJ[P]LS` Investment property and depreciation <UKLY 0UKPHU .((7 HK]HUJL WHPK MVY PU]LZ[TLU[ property was disclosed as loans and advances. :\JO HK]HUJLZ HYL JV]LYLK \UKLY [OL KLÄUH[PVU VM 0U]LZ[TLU[ 7YVWLY[PLZ HZ WLY 0UK (: OLUJL HYL KPZJSVZLK HJJVYKPUNS` (Z WLY 0UK (: KLWYLJPH[PVU to be charged on investment properties and it is to IL [LZ[LK MVY PTWHPYTLU[ (JJVYKPUNS` [OL JHYY`PUN ]HS\L VM 0U]LZ[TLU[ WYVWLY[` \UKLY 0UKPHU .((7 OHZ been adjusted for accumulated depreciation and PTWHPYTLU[ HZ (WYPS HTV\U[PUN [V ` lacs and ` SHJZ HZ VU 4HYJO \UKLY Ind-AS. Circulation Revenue - Gift cost reclass (Z WLY 0UK (: [OL NPM[ JVZ[ PZ NYV\WLK \UKLY KLK\J[PVU from revenue and hence is netted off from circulation YL]LU\L 0U 0UKPHU .((7 [OL NPM[ JVZ[ ^HZ HJJV\U[LK for as advertisement and sales promotion expenses. This has resulted in decrease in circulation revenue

164 HT MEDIA LIMITED

MVY `LHY 4HYJO I` ` SHJZ HUK also reduction in advertisement and sales promotion expenses by the same amount. m.

Foreign currency translation reserve <UKLY 0UKPHU .((7 [YHUZSH[PVU VM SVUN [LYT MVYLPNU currency bonds was accumulated and adjusted to MVYLPNU J\YYLUJ` [YHUZSH[PVU YLZLY]L -*;9 OV^L]LY the same under Ind-AS has been charged to other expenses. Accordingly ` 3HJZ JYLKP[LK [V -*;9 \UKLY 0UKPHU .((7 ^P[O YLZWLJ[ [V [YHUZSH[PVU VM foreign currency bonds has been credited to foreign L_JOHUNL Ã…\J[\H[PVU \UKLY 0UK (:

n.

Reversal of restatement of forward contracts related to long term foreign currency bonds <UKLY 0UKPHU .((7 YLZ[H[LTLU[ VM MVY^HYK JVU[YHJ[Z related to long term foreign currency bonds was accumulated and adjusted to foreign currency [YHUZSH[PVU YLZLY]L -*;9 OV^L]LY [OL ZHTL \UKLY Ind-AS is fairvalued and charged to statement of WYVÄ[ HUK SVZZ (JJVYKPUNS` ` SHJZ KLIP[LK [V -*;9 \UKLY 0UKPHU .((7 ^P[O YLZWLJ[ [V YLZ[H[LTLU[ of forward contracts has been debited to foreign L_JOHUNL Å\J[\H[PVU \UKLY 0UK (:

o.

Deemed Cost of Property, plant and equipment and Intangibles as at April 1, 2015 9LNHYKPUN HWWSPJH[PVU VM KLLTLK JVZ[ VM 7YVWLY[` WSHU[ HUK LX\PWTLU[ HUK PU[HUNPISLZ HZ H[ (WYPS [OL JVTWHU` OHZ KPZJSVZLK [OL JVZ[ HZ H[ (WYPS UL[ VM HJJ\T\SH[LK KLWYLJPH[PVU

p.

Cash discount received (Z WLY 0UK (: JHZO KPZJV\U[ YLJLP]LK VU ILMVYL [PTL payments were netted off from respective expenses resulting in decrease in expenses by ` SHJZ HUK JVYYLZWVUKPUNS` KLJYLHZL PU V[OLY PUJVTL MVY ÄUHUJPHS `LHY LUKLK 4HYJO

q.

Government Grant ;OL *VTWHU` OHK HSYLHK` KLK\J[LK [OL HTV\U[ VM NYHU[ MYVT [OL JVZ[ VM [OL Ä_LK HZZL[Z \UKLY 0UKPHU .((7 /V^L]LY (Z WLY 0UK (: HJJV\U[PUN MVY government grants and disclosure of government HZZPZ[HUJL P[ OHZ UV^ YLJVNUPZLK [OL HTV\U[ VM unamortized deferred income as at the date of the [YHUZP[PVU PU HJJVYKHUJL ^P[O WHYHNYHWO VM 0UK (: [OL JVYYLZWVUKPUN HKQ\Z[TLU[ OHZ ILLU THKL [V [OL JHYY`PUN HTV\U[ VM WYVWLY[` WSHU[ HUK LX\PWTLU[ UL[ VM J\T\SH[P]L KLWYLJPH[PVU PTWHJ[ YLZWLJ[P]LS` HZ [OL NYHU[ PZ KPYLJ[S` SPURLK [V [OL WYVWLY[` WSHU[ HUK LX\PWTLU[ HTV\U[PUN [V ` SHJZ HZ VU (WYPS HUK ` SHJZ HZ VU 4HYJO -\Y[OLY

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2017 the deferred income is credited to other income over the life of asset and correspondingly depreciation is JOHYNLK VU WYVWLY[` WSHU[ HUK LX\PWTLU[ r.

Deferred tax

0UKPHU .((7 YLX\PYLZ KLMLYYLK [H_ HJJV\U[PUN \ZPUN [OL PUJVTL Z[H[LTLU[ HWWYVHJO ^OPJO MVJ\ZLZ VU KPMMLYLUJLZ IL[^LLU [H_HISL WYVÄ[Z HUK HJJV\U[PUN WYVÄ[Z MVY [OL WLYPVK 0UK (: YLX\PYLZ LU[P[PLZ [V account for deferred taxes using the balance sheet HWWYVHJO ^OPJO MVJ\ZLZ VU [LTWVYHY` KPMMLYLUJLZ between the carrying amount of an asset or liability in the balance sheet and its tax base. The application VM 0UK (: HWWYVHJO OHZ YLZ\S[LK PU YLJVNUP[PVU VM deferred tax on new temporary differences which was UV[ YLX\PYLK \UKLY 0UKPHU .((7

WVSPJPLZ [OL JVTWHU` OHZ [V HJJV\U[ MVY Z\JO KPMMLYLUJLZ +LMLYYLK [H_ HKQ\Z[TLU[Z HYL YLJVNUPZLK in correlation to the underlying transaction either in YL[HPULK LHYUPUNZ VY H ZLWHYH[L JVTWVULU[ VM LX\P[` 6U [OL KH[L VM [YHUZP[PVU [OL UL[ PTWHJ[ VU KLMLYYLK tax liabilities is of ` SHJZ 4HYJO ! ` SHJZ Z :[H[LTLU[ VM JHZO Ã…V^Z ;OL [YHUZP[PVU MYVT 0UKPHU .((7 [V 0UK (: OHZ UV[ OHK H TH[LYPHS PTWHJ[ VU [OL Z[H[LTLU[ VM JHZO Ã…V^Z t.

Other comprehensive income

<UKLY 0UKPHU .((7 [OL *VTWHU` OHZ UV[ WYLZLU[LK V[OLY JVTWYLOLUZP]L PUJVTL 6*0 ZLWHYH[LS` /LUJL P[ OHZ YLJVUJPSLK 0UKPHU .((7 WYVÄ[ [V WYVÄ[ HZ WLY 0UK (: -\Y[OLY 0UKPHU .((7 WYVÄ[ PZ YLJVUJPSLK [V total comprehensive income as per Ind-AS.

0U HKKP[PVU [OL ]HYPV\Z [YHUZP[PVUHS HKQ\Z[TLU[Z SLHK to temporary differences. According to the accounting

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date -VY S.R. Batliboi & CO. LLP *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , ,

-VY HUK VU ILOHSM VM [OL )VHYK VM +PYLJ[VYZ VM /; 4LKPH 3PTP[LK

per Vishal Sharma Partner 4LTILYZOPW 5\TILY!

7P`\ZO .\W[H .YV\W *OPLM -PUHUJPHS 6MÄJLY

+PULZO 4P[[HS >OVSL [PTL +PYLJ[VY .YV\W .LULYHS *V\UZLS *VTWHU` :LJYL[HY` +05!

Place : +H[L :

9HQP] =LYTH *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia *OHPYWLYZVU ,KP[VYPHS +PYLJ[VY +05!

5L^ +LSOP 4H`

ANNUAL REPORT 2016-17 165

INDEPENDENT AUDITOR’S REPORT To The Members of HT Media Limited

REPORT ON THE CONSOLIDATED IND AS FINANCIAL STATEMENTS We have audited the accompanying consolidated Ind AS Ă„UHUJPHS Z[H[LTLU[Z VM /; 4LKPH 3PTP[LK OLYLPUHM[LY YLMLYYLK [V HZ ¸[OL /VSKPUN *VTWHU`š P[Z Z\IZPKPHYPLZ [OL /VSKPUN Company and its subsidiaries together referred to as “the Groupâ€?) and Joint Ventures, comprising of the consolidated Balance Sheet as at March 31, 2017, the consolidated :[H[LTLU[ VM 7YVĂ„[ HUK 3VZZ PUJS\KPUN V[OLY JVTWYLOLUZP]L income, the consolidated Cash Flow Statement, the consolidated Statement of Changes in Equity for the year then LUKLK HUK H Z\TTHY` VM ZPNUPĂ„JHU[ HJJV\U[PUN WVSPJPLZ HUK V[OLY L_WSHUH[VY` PUMVYTH[PVU OLYLPUHM[LY YLMLYYLK [V HZ ¸[OL JVUZVSPKH[LK 0UK (: Ă„UHUJPHS Z[H[LTLU[Zš

MANAGEMENT’S RESPONSIBILITY FOR THE CONSOLIDATED FINANCIAL STATEMENTS The Holding Company’s Board of Directors is responsible MVY [OL WYLWHYH[PVU VM [OLZL JVUZVSPKH[LK 0UK (: Ă„UHUJPHS statements in terms of the requirement of the Companies Act, ¸[OL (J[š [OH[ NP]L H [Y\L HUK MHPY ]PL^ VM [OL JVUZVSPKH[LK Ă„UHUJPHS WVZP[PVU JVUZVSPKH[LK Ă„UHUJPHS WLYMVYTHUJL including other comprehensive income, consolidated cash Ă…V^Z HUK JVUZVSPKH[LK Z[H[LTLU[ VM JOHUNLZ PU LX\P[` VM the Group including its Joint Ventures in accordance with accounting principles generally accepted in India, including [OL (JJV\U[PUN :[HUKHYKZ ZWLJPĂ„LK \UKLY :LJ[PVU VM [OL (J[ YLHK ^P[O 9\SL VM [OL *VTWHUPLZ (JJV\U[Z 9\SLZ [OL *VTWHUPLZ 0UKPHU (JJV\U[PUN :[HUKHYK 9\SLZ HZ HTLUKLK ;OL YLZWLJ[P]L )VHYK VM +PYLJ[VYZ VM [OL companies included in the Group and of its Joint Ventures are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and of its Joint Ventures and for preventing and detecting frauds and other irregularities; the selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance VM HKLX\H[L PU[LYUHS Ă„UHUJPHS JVU[YVSZ [OH[ ^LYL VWLYH[PUN effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and WYLZLU[H[PVU VM [OL Ă„UHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L HUK fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of WYLWHYH[PVU VM [OL JVUZVSPKH[LK 0UK (: Ă„UHUJPHS Z[H[LTLU[Z I` [OL +PYLJ[VYZ VM [OL /VSKPUN *VTWHU` HZ HMVYLZHPK

AUDITOR’S RESPONSIBILITY Our responsibility is to express an opinion on these JVUZVSPKH[LK 0UK (: ÄUHUJPHS Z[H[LTLU[Z IHZLK VU V\Y H\KP[ While conducting the 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

166 HT MEDIA LIMITED

[OLYL\UKLY >L JVUK\J[LK V\Y H\KP[ PU HJJVYKHUJL ^P[O [OL Standards on Auditing, issued by the Institute of Chartered (JJV\U[HU[Z VM 0UKPH HZ ZWLJPÄLK \UKLY :LJ[PVU VM [OL (J[ ;OVZL :[HUKHYKZ YLX\PYL [OH[ ^L JVTWS` ^P[O ethical requirements and plan and perform the audit to obtain YLHZVUHISL HZZ\YHUJL HIV\[ ^OL[OLY [OL ÄUHUJPHS Z[H[LTLU[Z HYL MYLL MYVT TH[LYPHS TPZZ[H[LTLU[ An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the JVUZVSPKH[LK ÄUHUJPHS Z[H[LTLU[Z ;OL WYVJLK\YLZ ZLSLJ[LK depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated ÄUHUJPHS Z[H[LTLU[Z ^OL[OLY K\L [V MYH\K VY LYYVY 0U THRPUN [OVZL YPZR HZZLZZTLU[Z [OL H\KP[VY JVUZPKLYZ PU[LYUHS ÄUHUJPHS control relevant to the Holding Company’s preparation of the JVUZVSPKH[LK 0UK (: ÄUHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L and fair view in order to design audit procedures that are HWWYVWYPH[L PU [OL JPYJ\TZ[HUJLZ (U H\KP[ HSZV PUJS\KLZ evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Holding Company’s Board of Directors, as well as L]HS\H[PUN [OL V]LYHSS WYLZLU[H[PVU VM [OL JVUZVSPKH[LK ÄUHUJPHS Z[H[LTLU[Z >L ILSPL]L [OH[ [OL H\KP[ L]PKLUJL VI[HPULK I` us and the audit evidence obtained by the other auditors in [LYTZ VM [OLPY YLWVY[Z YLMLYYLK [V PU Z\I WHYHNYHWO H VM [OL 6[OLY 4H[[LYZ WHYHNYHWO ILSV^ PZ Z\MÄJPLU[ HUK HWWYVWYPH[L to provide a basis for our audit opinion on the consolidated Ind (: ÄUHUJPHS Z[H[LTLU[Z

OPINION In our opinion and to the best of our information and according to the explanations given to us and based on the consideration VM YLWVY[Z VM V[OLY H\KP[VYZ VU ZLWHYH[L Ă„UHUJPHS Z[H[LTLU[Z HUK VU [OL V[OLY Ă„UHUJPHS PUMVYTH[PVU VM [OL Z\IZPKPHYPLZ HUK 1VPU[ =LU[\YLZ [OL HMVYLZHPK JVUZVSPKH[LK 0UK (: Ă„UHUJPHS 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 consolidated state of affairs of the Group, its Joint Ventures HZ H[ 4HYJO [OLPY JVUZVSPKH[LK WYVĂ„[ PUJS\KPUN V[OLY JVTWYLOLUZP]L PUJVTL HUK [OLPY JVUZVSPKH[LK JHZO Ă…V^Z and consolidated statement of changes in equity for the year LUKLK VU [OH[ KH[L

EMPHASIS OF MATTER >L KYH^ H[[LU[PVU [V 5V[L VM [OL JVUZVSPKH[LK ÄUHUJPHS statement in respect of two separate Schemes of Arrangement \ Z VM [OL *VTWHUPLZ (J[ IL[^LLU P [OL *VTWHU` HUK /; +PNP[HS :[YLHTZ 3PTP[LK HUK PP /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK HUK /; +PNP[HS :[YLHTZ 3PTP[LK [OL Schemes) approved by the Hon’ble High Courts of Delhi HUK 7H[UH (Z WLY [OLZL HWWYV]LK ZJOLTLZ [OL *VTWHU` Hindustan Media Ventures Limited and HT Digital Streams Limited have followed the applicable Accounting Standards ZWLJPÄLK \UKLY ZLJ[PVU VM [OL *VTWHUPLZ (J[ YLHK ^P[O 9\SL VM *VTWHUPLZ (JJV\U[Z 9\SLZ HUK V[OLY

A

01-15

About HT Media

Generally Accepted Accounting Principles as on the Appointed +H[L P L 4HYJO ;OPZ PZ UV[ ZPTPSHY [V [OL HJJV\U[PUN as per the currently applicable Indian Accounting Standards 0UK (: WYLZJYPILK \UKLY :LJ[PVU VM [OL *VTWHUPLZ (J[ YLHK ^P[O YLSL]HU[ Y\SLZ PZZ\LK [OLYL\UKLY 6\Y VWPUPVU PZ UV[ X\HSPĂ„LK PU YLZWLJ[ [V [OPZ TH[[LY

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS (Z YLX\PYLK I` ZLJ[PVU VM [OL (J[ IHZLK VU V\Y H\KP[ and on the consideration of report of the other auditors VU ZLWHYH[L Ă„UHUJPHS Z[H[LTLU[Z HUK [OL V[OLY Ă„UHUJPHS information of subsidiaries, and Joint Ventures, as noted in the ‘other matter’ paragraph we report, to the extent applicable, that: H >L [OL V[OLY H\KP[VYZ ^OVZL YLWVY[Z ^L OH]L YLSPLK upon have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit of the HMVYLZHPK JVUZVSPKH[LK 0UK (: Ă„UHUJPHS Z[H[LTLU[Z" I 0U V\Y VWPUPVU WYVWLY IVVRZ VM HJJV\U[ HZ YLX\PYLK I` law relating to preparation of the aforesaid consolidation VM [OL Ă„UHUJPHS Z[H[LTLU[Z OH]L ILLU RLW[ ZV MHY HZ it appears from our examination of those books and reports of the other auditors; J ;OL JVUZVSPKH[LK )HSHUJL :OLL[ JVUZVSPKH[LK :[H[LTLU[ VM 7YVĂ„[ HUK 3VZZ PUJS\KPUN [OL :[H[LTLU[ VM Other Comprehensive Income, the consolidated Cash Flow Statement and consolidated Statement of Changes in Equity dealt with by this Report are in agreement with the books of account;

M

>P[O YLZWLJ[ [V [OL HKLX\HJ` HUK [OL VWLYH[PUN LMMLJ[P]LULZZ VM [OL PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS reporting of the Holding Company and its subsidiary companies and Joint Venture incorporated in India, refer to our separate report in “Annexure 1â€? to this report;

Statutory Reports

C

59-290

Financial Statements

N >P[O YLZWLJ[ [V [OL V[OLY TH[[LYZ [V IL PUJS\KLK PU the Auditor’s Report in accordance with Rule 11 of [OL *VTWHUPLZ (\KP[ HUK (\KP[VYZ 9\SLZ PU our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the report of the other auditors on ZLWHYH[L Ă„UHUJPHS Z[H[LTLU[Z HZ HSZV [OL V[OLY Ă„UHUJPHS information of the subsidiaries and Joint Ventures, as noted in the ‘Other matter’ paragraph:

P

;OL JVUZVSPKH[LK 0UK (: ÄUHUJPHS Z[H[LTLU[Z disclose the impact of pending litigations on its JVUZVSPKH[LK ÄUHUJPHS WVZP[PVU VM [OL .YV\W P[Z Joint Ventures – Refer Note 36 to the consolidated 0UK (: ÄUHUJPHS Z[H[LTLU[Z"

PP

7YV]PZPVU OHZ ILLU THKL PU [OL JVUZVSPKH[LK 0UK (: Ă„UHUJPHS Z[H[LTLU[Z HZ YLX\PYLK \UKLY [OL applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts PUJS\KPUN KLYP]H[P]L JVU[YHJ[Z Âś 9LMLY 5V[L J [V [OL JVUZVSPKH[LK 0UK (: Ă„UHUJPHS Z[H[LTLU[Z PU respect of such items as it relates to the Group and its Joint Ventures;

PPP

;OLYL OHZ ILLU UV KLSH` PU [YHUZMLYYPUN HTV\U[Z required to be transferred, to the Investor Education and Protection Fund by the Holding Company, its subsidiaries and Joint Ventures incorporated in 0UKPH K\YPUN [OL `LHY LUKLK 4HYJO

P]

;OL /VSKPUN *VTWHU` Z\IZPKPHYPLZ HUK 1VPU[ Venture incorporated in India, have provided requisite disclosures in Note 44 to these consolidated Ind AS Ă„UHUJPHS Z[H[LTLU[Z HZ [V [OL OVSKPUN VM :WLJPĂ„LK Bank Notes on November 8, 2016 and December HZ ^LSS HZ KLHSPUNZ PU :WLJPĂ„LK )HUR Notes during the period from November 8, 2016 to +LJLTILY )HZLK VU V\Y H\KP[ WYVJLK\YLZ and relying on the management representation of the Holding Company regarding the holding and UH[\YL VM JHZO [YHUZHJ[PVUZ PUJS\KPUN :WLJPĂ„LK Bank Notes, we report that these disclosures are in accordance with the books of account maintained by the Group including its Joint Venture and as produced to us by the Management of the Holding *VTWHU`

K 0U V\Y VWPUPVU [OL HMVYLZHPK JVUZVSPKH[LK 0UK (: ÄUHUJPHS statements comply with the Accounting Standards ZWLJPÄLK \UKLY ZLJ[PVU VM [OL (J[ YLHK ^P[O 9\SL VM [OL *VTWHUPLZ (JJV\U[Z 9\SLZ HUK *VTWHUPLZ 0UKPHU (JJV\U[PUN :[HUKHYK 9\SLZ HZ HTLUKLK" L 6U [OL IHZPZ VM [OL ^YP[[LU YLWYLZLU[H[PVUZ YLJLP]LK from the directors of the Holding Company as on March 31, 2017 taken on record by the Board of Directors of the Holding Company and the reports of the statutory auditors who are appointed under Section 139 of the Act, of its subsidiary companies and Joint Venture incorporated in India, none of the directors of the Group’s companies, its Joint Venture incorporated in India is KPZX\HSPÄLK HZ VU 4HYJO MYVT ILPUN HWWVPU[LK HZ H KPYLJ[VY PU [LYTZ VM :LJ[PVU VM [OL (J[

16-58

B

OTHER MATTER H

>L KPK UV[ H\KP[ [OL Ă„UHUJPHS Z[H[LTLU[Z HUK V[OLY Ă„UHUJPHS PUMVYTH[PVU PU YLZWLJ[ VM ZP_ Z\IZPKPHYPLZ ^OVZL 0UK (: Ă„UHUJPHS Z[H[LTLU[Z PUJS\KL [V[HS HZZL[Z VM ` SHJZ HUK UL[ HZZL[Z VM ` SHJZ HZ H[ March 31, 2017, and total revenues of ` SHJZ MVY [OL `LHY LUKLK VU [OH[ KH[L HUK UL[ JHZO V\[Ă…V^Z of ` SHJZ MVY [OL `LHY LUKLK VU [OH[ KH[L ;OLZL Ă„UHUJPHS Z[H[LTLU[ HUK V[OLY Ă„UHUJPHS PUMVYTH[PVU ANNUAL REPORT 2016-17 167

OH]L ILLU H\KP[LK I` V[OLY H\KP[VYZ ^OVZL ÄUHUJPHS Z[H[LTLU[Z V[OLY ÄUHUJPHS PUMVYTH[PVU HUK H\KP[VYZ YLWVY[Z OH]L ILLU M\YUPZOLK [V \Z I` [OL THUHNLTLU[ Our opinion, in so far as it relates to the affairs of such subsidiaries is based solely on the report of other H\KP[VYZ ;OL JVUZVSPKH[LK 0UK (: ÄUHUJPHS Z[H[LTLU[Z HSZV PUJS\KL [OL Group’s share of net loss of ` SHJZ MVY [OL `LHY LUKLK 4HYJO HZ JVUZPKLYLK PU [OL JVUZVSPKH[LK ÄUHUJPHS statements, in respect of a joint venture located outside 0UKPH ^OVZL ÄUHUJPHS Z[H[LTLU[Z V[OLY ÄUHUJPHS PUMVYTH[PVU is un-audited and has been compiled by the management in accordance with accounting principles generally accepted PU [OL YLZWLJ[P]L JV\U[Y` ;OL *VTWHU`Z THUHNLTLU[ OHZ JVU]LY[LK [OL ÄUHUJPHS Z[H[LTLU[Z VM Z\JO QVPU[ ]LU[\YL located outside India from accounting principles generally accepted in the respective country to accounting principles NLULYHSS` HJJLW[LK PU 0UKPH (JJVYKPUN [V [OL PUMVYTH[PVU HUK L_WSHUH[PVU NP]LU [V \Z I` [OL THUHNLTLU[ [OL ÄUHUJPHS information in respect of a joint venture is not material to the .YV\W 6\Y VWPUPVU PZ UV[ TVKPÄLK PU YLZWLJ[ VM [OL HIV]L TH[[LYZ One of the subsidiaries is located outside India whose ÄUHUJPHS Z[H[LTLU[Z HUK V[OLY ÄUHUJPHS PUMVYTH[PVU OH]L ILLU prepared in accordance with accounting principles generally accepted in the respective country and which have been audited by other auditors under generally accepted auditing

Z[HUKHYKZ HWWSPJHISL PU [OL YLZWLJ[P]L JV\U[Y` ;OL *VTWHU`Z THUHNLTLU[ OHZ JVU]LY[LK [OL ÄUHUJPHS Z[H[LTLU[Z VM Z\JO subsidiary located outside India from accounting principles generally accepted in the respective country to accounting WYPUJPWSLZ NLULYHSS` HJJLW[LK PU 0UKPH >L OH]L H\KP[LK these conversion adjustments made by the Company’s THUHNLTLU[ 6\Y VWPUPVU PU ZV MHY HZ P[ YLSH[LZ [V [OL IHSHUJLZ and affairs of such subsidiary located outside India is based on the report of other auditor and the conversion adjustments prepared by the management of the Company and audited I` \Z 6\Y VWPUPVU HIV]L VU [OL JVUZVSPKH[LK 0UK (: ÄUHUJPHS statements, and our report on Other Legal and Regulatory 9LX\PYLTLU[Z HIV]L PZ UV[ TVKPÄLK PU YLZWLJ[ VM [OL HIV]L matters with respect to our reliance on the work done and the YLWVY[Z VM [OL V[OLY H\KP[VYZ HUK [OL ÄUHUJPHS Z[H[LTLU[Z HUK V[OLY ÄUHUJPHS PUMVYTH[PVU JLY[PÄLK I` [OL 4HUHNLTLU[ For S.R. Batliboi & CO. LLP Chartered Accountants ICAI Firm Registration Number: 301003E/E300005 per Vishal Sharma Partner Membership Number: 096766 Place of Signature Date

: New Delhi : May 19, 2017

ANNEXURE 1 TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE CONSOLIDATED FINANCIAL STATEMENTS OF HT MEDIA LIMTED Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Actâ€?) 0U JVUQ\UJ[PVU ^P[O V\Y H\KP[ VM [OL JVUZVSPKH[LK Ă„UHUJPHS statements of HT Media Limited as of and for the year ended 4HYJO ^L OH]L H\KP[LK [OL PU[LYUHS Ă„UHUJPHS JVU[YVSZ V]LY Ă„UHUJPHS YLWVY[PUN VM /; 4LKPH 3PTP[LK OLYLPUHM[LY YLMLYYLK to as the “Holding Companyâ€?) and its subsidiary companies, its joint ventures, which are companies incorporated in India, HZ VM [OH[ KH[L

MANAGEMENT’S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS The respective Board of Directors of the Holding Company, its subsidiary companies, its Joint Ventures, which are companies incorporated in India, are responsible for establishing and THPU[HPUPUN PU[LYUHS ÄUHUJPHS JVU[YVSZ IHZLK VU [OL PU[LYUHS JVU[YVS V]LY ÄUHUJPHS YLWVY[PUN JYP[LYPH LZ[HISPZOLK I` [OL Holding Company considering the essential components

168 HT MEDIA LIMITED

of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued I` [OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH ;OLZL responsibilities include the design, implementation and THPU[LUHUJL VM HKLX\H[L PU[LYUHS ÄUHUJPHS JVU[YVSZ [OH[ ^LYL VWLYH[PUN LMMLJ[P]LS` MVY LUZ\YPUN [OL VYKLYS` HUK LMÄJPLU[ conduct of its business, including adherence to the respective 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 WYLWHYH[PVU VM YLSPHISL ÄUHUJPHS PUMVYTH[PVU HZ YLX\PYLK \UKLY [OL (J[

AUDITOR’S RESPONSIBILITY Our responsibility is to express an opinion on the company’s PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN IHZLK VU

A

01-15

About HT Media

V\Y H\KP[ >L JVUK\J[LK V\Y H\KP[ PU HJJVYKHUJL ^P[O [OL Guidance Note on Audit of Internal Financial Controls Over -PUHUJPHS 9LWVY[PUN [OL ¸.\PKHUJL 5V[L¹ HUK [OL :[HUKHYKZ on Auditing, both, issued by Institute of Chartered Accountants VM 0UKPH HUK KLLTLK [V IL WYLZJYPILK \UKLY ZLJ[PVU of the Act, to the extent applicable to an audit of internal ÄUHUJPHS JVU[YVSZ ;OVZL :[HUKHYKZ HUK [OL .\PKHUJL 5V[L require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about ^OL[OLY HKLX\H[L PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS reporting was established and maintained and if such controls VWLYH[LK LMMLJ[P]LS` PU HSS TH[LYPHS YLZWLJ[Z Our audit involves performing procedures to obtain audit L]PKLUJL HIV\[ [OL HKLX\HJ` VM [OL PU[LYUHS ÄUHUJPHS JVU[YVSZ Z`Z[LT V]LY ÄUHUJPHS YLWVY[PUN HUK [OLPY VWLYH[PUN LMMLJ[P]LULZZ 6\Y H\KP[ VM PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN PUJS\KLK VI[HPUPUN HU \UKLYZ[HUKPUN VM PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN HZZLZZPUN the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal JVU[YVS IHZLK VU [OL HZZLZZLK YPZR ;OL WYVJLK\YLZ ZLSLJ[LK depend on the auditor’s judgement, including the assessment VM [OL YPZRZ VM TH[LYPHS TPZZ[H[LTLU[ VM [OL ÄUHUJPHS Z[H[LTLU[Z ^OL[OLY K\L [V MYH\K VY LYYVY We believe that the audit evidence we have obtained and the audit evidence obtained by the other auditors in terms of their reports referred to in the Other Matters paragraph below, PZ Z\MÄJPLU[ HUK HWWYVWYPH[L [V WYV]PKL H IHZPZ MVY V\Y H\KP[ VWPUPVU VU [OL PU[LYUHS ÄUHUJPHS JVU[YVSZ Z`Z[LT V]LY ÄUHUJPHS YLWVY[PUN

MEANING OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING ( JVTWHU`»Z PU[LYUHS ÄUHUJPHS JVU[YVS V]LY ÄUHUJPHS YLWVY[PUN is a process designed to provide reasonable assurance YLNHYKPUN [OL YLSPHIPSP[` VM ÄUHUJPHS YLWVY[PUN HUK [OL WYLWHYH[PVU VM ÄUHUJPHS Z[H[LTLU[Z MVY L_[LYUHS W\YWVZLZ PU HJJVYKHUJL ^P[O NLULYHSS` HJJLW[LK HJJV\U[PUN WYPUJPWSLZ ( JVTWHU`»Z PU[LYUHS ÄUHUJPHS JVU[YVS V]LY ÄUHUJPHS YLWVY[PUN PUJS\KLZ [OVZL WVSPJPLZ HUK WYVJLK\YLZ [OH[ WLY[HPU [V [OL maintenance of records that, in reasonable detail, accurately HUK MHPYS` YLÃ…LJ[ [OL [YHUZHJ[PVUZ HUK KPZWVZP[PVUZ VM [OL HZZL[Z VM [OL JVTWHU`" WYV]PKL YLHZVUHISL HZZ\YHUJL [OH[ transactions are recorded as necessary to permit preparation VM ÄUHUJPHS Z[H[LTLU[Z PU HJJVYKHUJL ^P[O NLULYHSS` HJJLW[LK 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;

B

16-58

C

Statutory Reports

59-290

Financial Statements

HUK WYV]PKL YLHZVUHISL HZZ\YHUJL YLNHYKPUN WYL]LU[PVU or timely detection of unauthorised acquisition, use, or disposition of the company’s assets that could have a material LMMLJ[ VU [OL ÄUHUJPHS Z[H[LTLU[Z

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING )LJH\ZL VM [OL PUOLYLU[ SPTP[H[PVUZ VM PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN PUJS\KPUN [OL WVZZPIPSP[` of collusion or improper management override of controls, material misstatements due to error or fraud may occur and UV[ IL KL[LJ[LK (SZV WYVQLJ[PVUZ VM HU` L]HS\H[PVU VM [OL PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN [V M\[\YL WLYPVKZ HYL Z\IQLJ[ [V [OL YPZR [OH[ [OL PU[LYUHS ÄUHUJPHS JVU[YVS V]LY ÄUHUJPHS YLWVY[PUN TH` ILJVTL PUHKLX\H[L ILJH\ZL VM changes in conditions, or that the degree of compliance with [OL WVSPJPLZ VY WYVJLK\YLZ TH` KL[LYPVYH[L

OPINION In our opinion, the Holding Company, its subsidiary companies, its Joint Ventures, which are companies incorporated in India, have, maintained in all material respects, an adequate PU[LYUHS ÄUHUJPHS JVU[YVSZ Z`Z[LT V]LY ÄUHUJPHS YLWVY[PUN HUK Z\JO PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN ^LYL operating effectively as at March 31, 2017, based on the PU[LYUHS JVU[YVS V]LY ÄUHUJPHS YLWVY[PUN JYP[LYPH LZ[HISPZOLK I` the Holding Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by [OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH

OTHER MATTERS 6\Y YLWVY[ \UKLY :LJ[PVU P VM [OL (J[ VU [OL HKLX\HJ` HUK VWLYH[PUN LMMLJ[P]LULZZ VM [OL PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN VM [OL /VSKPUN *VTWHU` PUZVMHY HZ P[ relates to these 6 subsidiary companies, which are companies incorporated in India, is based on the corresponding reports of [OL H\KP[VYZ VM Z\JO Z\IZPKPHYPLZ PUJVYWVYH[LK PU 0UKPH For S.R. Batliboi & CO. LLP Chartered Accountants ICAI Firm Registration Number: 301003E/E300005 per Vishal Sharma Partner Membership Number: 096766 Place of Signature Date

: New Delhi : May 19, 2017

ANNUAL REPORT 2016-17 169

CONSOLIDATED BALANCE SHEET AS AT MARCH 31, 2017 Particulars I 1)

2)

II 1)

2)

ASSETS Non-current assets H 7YVWLY[` WSHU[ HUK LX\PWTLU[ I *HWP[HS ^VYR PU WYVNYLZZ J 0U]LZ[TLU[ WYVWLY[` K .VVK^PSS VU *VUZVSPKH[PVU L 6[OLY 0U[HUNPISL HZZL[Z M 0U[HUNPISL HZZL[Z \UKLY KL]LSVWTLU[ N 0U]LZ[TLU[ PU QVPU[ ]LU[\YLZ LX\P[` O -PUHUJPHS HZZL[Z P 0U]LZ[TLU[Z PP 3VHUZ PPP 6[OLY ÄUHUJPHS HZZL[Z P 6[OLY UVU J\YYLU[ HZZL[Z Q +LMLYYLK ;H_ (ZZL[Z 5L[ R 0UJVTL ;H_ (ZZL[Z Total Non- current Assets Current assets H 0U]LU[VYPLZ I -PUHUJPHS HZZL[Z P 0U]LZ[TLU[Z PP ;YHKL YLJLP]HISLZ PPP *HZO HUK JHZO LX\P]HSLU[Z P] 6[OLY IHUR IHSHUJLZ ] 3VHUZ ]P 6[OLY ÄUHUJPHS HZZL[Z J 6[OLY J\YYLU[ HZZL[Z Total current assets Total Assets EQUITY AND LIABILITIES Equity H ,X\P[` ZOHYL JHWP[HS I 6[OLY LX\P[` Equity attributable to equity holders of parent J 5VU *VU[YVSSPUN 0U[LYLZ[ Total Equity Liabilities Non-current liabilities H -PUHUJPHS SPHIPSP[PLZ P )VYYV^PUNZ I +LMLYYLK [H_ SPHIPSP[PLZ 5L[ J 6[OLY UVU J\YYLU[ SPHIPSP[PLZ K 7YV]PZPVUZ Total non- current liabilities Current liabilities H -PUHUJPHS SPHIPSP[PLZ P )VYYV^PUNZ PP ;YHKL 7H`HISLZ PPP 6[OLY ÄUHUJPHS SPHIPSP[PLZ I 6[OLY J\YYLU[ SPHIPSP[PLZ J 7YV]PZPVUZ K 0UJVTL [H_ SPHIPSP[` Total current liabilities Total liabilities Total equity and liabilities :\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ

As at March 31, 2017

As at March 31, 2016

` in Lacs) As at April 1, 2015

3 3 4 5 5 5 7A

7B 7C 7D 8 16 9

3,61,853.44

2,81,753.42

2,45,324.88

10

7B 11A 11B 11B 7C 7D 8

97,714.68 4,59,568.12

1,50,377.03 4,32,130.45

95,318.04 3,40,642.92

12 13

2,23,189.02 253,189.84

2,08,175.01 231,603.57

1,92,897.74 212,033.19

15A 16 17 18

7,789.16

8,091.84

11,812.23

15A 15B 15C 17 18 19

1,98,589.12 2,06,378.28 459,568.12

1,92,435.04 2,00,526.88 432,130.45

1,16,797.50 1,28,609.73 340,642.92

Notes

2

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date For and on behalf of the Board of Directors of HT Media Limited For S.R. Batliboi & CO. LLP Chartered Accountants ICAI Firm Registration Number: 301003E/E300005 per Vishal Sharma Partner Membership Number: 096766 Place : Date :

New Delhi May 19, 2017

170 HT MEDIA LIMITED

Piyush Gupta .YV\W *OPLM -PUHUJPHS 6MÄJLY

Dinesh Mittal Whole-time Director, Group General Counsel & Company Secretary +05!

Rajiv Verma *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia Chairperson & Editorial Director +05!

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

CONSOLIDATED STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2017 Particulars I a) b) II a) b) c) d) e) f) III IV V a) b) c) VI VII VIII IX

Year ended March 31, 2017

` in Lacs) Year ended March 31, 2016

20 21

2,68,155.47

2,65,769.90

22 23 24 25 26 27

2,37,367.20 30,788.27

2,34,365.02 31,404.88

52,776.52

47,891.43

6,714.39 24,073.88 21,901.03

8,034.23 23,370.65 21,941.84

(229.97)

(231.21)

(63.87) (293.84) 21,607.19 21,901.03

29.07 (202.14) 21,739.70 21,941.84

21,607.19

21,739.70

Notes

INCOME Revenue from operations Other Income Total Income EXPENSES Cost of materials consumed 0UJYLHZL KLJYLHZL PU PU]LU[VYPLZ ,TWSV`LL ILULÄ[Z L_WLUZL Finance costs Depreciation and amortization expense Other expenses Total expenses PROFIT BEFORE SHARE OF (PROFIT)/LOSS OF ASSOCIATE AND JOINT VENTURE AND TAX (I-II) EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION (EBITDA) [III+II(d)+II(e)] TAX EXPENSE: Current tax Adjustment of current tax relating to earlier periods +LMLYYLK [H_ JOHYNL JYLKP[ Total tax expense PROFIT FOR THE PERIOD AFTER TAX BEFORE SHARE OF A JOINT VENTURE AND TAX (III-V) :OHYL VM WYVÄ[ SVZZ VM QVPU[ ]LU[\YL PROFIT FOR THE YEAR (VI+VII) OTHER COMPREHENSIVE INCOME H 0[LTZ [OH[ ^PSS UV[ [V IL YLJSHZZPÄLK [V WYVÄ[ VY SVZZ 9 LTLHZ\YLTLU[ NHPU SVZZ VM [OL KLÄULK ILULÄ[ WSHUZ Income tax effect

16 16 16

33 28

I 0 [LTZ [OH[ ^PSS IL YLJSHZZPÄLK [V WYVÄ[ VY SVZZ Exchange differences on translation of foreign operation Income tax effect

X

XI

Other comprehensive income for the year, net of tax Total Comprehensive Income net of Tax (VIII+IX) 7YVÄ[ MVY [OL `LHY Attributable to: Equity holders of the parent Non-controlling interests Total comprehensive income for the year Attributable to: Equity holders of the parent Non-controlling interests EARNINGS/(LOSS) PER SHARE )HZPJ 5VTPUHS ]HS\L VM ZOHYL ` 2/-) +PS\[LK 5VTPUHS ]HS\L VM ZOHYL ` 2/-) :\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ

29 29 2

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date For and on behalf of the Board of Directors of HT Media Limited For S.R. Batliboi & CO. LLP Chartered Accountants ICAI Firm Registration Number: 301003E/E300005 per Vishal Sharma Partner Membership Number: 096766 Place : Date :

New Delhi May 19, 2017

Piyush Gupta .YV\W *OPLM -PUHUJPHS 6MÄJLY

Dinesh Mittal Whole-time Director, Group General Counsel & Company Secretary +05!

Rajiv Verma *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia Chairperson & Editorial Director +05!

ANNUAL REPORT 2016-17 171

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 ` in Lacs) Particulars

March 31, 2017

March 31, 2016

30,788.27

31,404.88

38,063.82

30,213.04

30,673.27

21,042.60

(26,912.41)

(87,895.62)

OPERATING ACTIVITIES 7YVÄ[ ILMVYL [H_ (KQ\Z[TLU[Z [V YLJVUJPSL WYVNj[ ILMVYL [H_ [V UL[ JHZO njV^Z! Depreciation on property, plant and equipment, intangible assets & Investment Properties Loss on disposal/ impairment of property, plant and equipment 5L[ 3VZZ VU ZHSL VM PU]LZ[TLU[Z -HPY ]HS\L VM PU]LZ[TLU[Z [OYV\NO WYVÄ[ HUK SVZZ 7YVÄ[ VU ZHSL VM PU]LZ[TLU[ WYVWLY[PLZ Interest income from investments and others <UJSHPTLK IHSHUJLZ \UZWLU[ SPHIPSP[PLZ ^YP[[LU IHJR UL[ Income from Government Grant Interest Expense <UYLHSPZLK MVYLPNU L_JOHUNL SVZZ NHPU Provision for diminution in value of investments properties 0TWHPYTLU[ VM KV\I[M\S KLI[Z HUK HK]HUJLZ PUJS\KPUN IHK KLI[Z ^YP[[LU VMM Provision for Litigation Employee stock option expense >VYRPUN JHWP[HS HKQ\Z[TLU[Z! +LJYLHZL 0UJYLHZL PU [YHKL YLJLP]HISLZ +LJYLHZL 0UJYLHZL PU PU]LU[VYPLZ +LJYLHZL 0UJYLHZL PU J\YYLU[ HUK UVU J\YYLU[ ÄUHUJPHS HZZL[Z HUK V[OLY J\YYLU[ HUK non-current assets 0UJYLHZL +LJYLHZL PU J\YYLU[ HUK UVU J\YYLU[ ÄUHUJPHS SPHIPSP[PLZ HUK V[OLY J\YYLU[ HUK non-current liabilities and provisions Income tax paid 5L[ JHZO ÅV^Z MYVT VWLYH[PUN HJ[P]P[PLZ ( Investing activities Purchase of property, plant and equipment/ Intangible assets Proceeds from sale of property, plant and equipment/ Intangible assets Purchase of investment property Proceeds from sale of investment properties Purchase of investments in mutual funds and others Proceeds from sale of investments in mutual funds and others Investments made in joint venture Interest received Amount paid to Minority Shareholders Exchange differences on translation of foreign operation Proceeds of deposits matured 5L[ JHZO ÅV^Z \ZLK PU PU]LZ[PUN HJ[P]P[PLZ )

172 HT MEDIA LIMITED

A

01-15

About HT Media

B

16-58

Statutory Reports

C

59-290

Financial Statements

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 ` in Lacs) Particulars

March 31, 2017

March 31, 2016

Financing activities 7YVJLLKZ MYVT :OVY[ [LYT IVYYV^PUNZ 5L[ Repayment of Long -term borrowings Interest paid Dividend paid Dividend distribution tax paid

5L[ JHZO ÅV^Z MYVT \ZLK PU ÄUHUJPUN HJ[P]P[PLZ * 5L[ PUJYLHZL KLJYLHZL PU JHZO HUK JHZO LX\P]HSLU[Z +$ ( ) * *HZO HUK JHZO LX\P]HSLU[Z H[ [OL ILNPUUPUN VM [OL `LHY ,

(5,979.43) (2,218.57)

63,564.10 (3,288.92)

Cash and cash equivalents at year end (D+E) Components of cash and cash equivalents as at end of the year Cash and cheques on hand Balances with banks - on current accounts - on deposit accounts )HUR 6]LYKYHM[Z 9LMLY UV[L (

12,917.81

15,136.38

*HZO HUK JHZO LX\P]HSLU[Z HZ WLY *HZO -SV^ :[H[LTLU[

12,917.81

15,136.38

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z As per our report of even date

For and on behalf of the Board of Directors of HT Media Limited

For S.R. Batliboi & CO. LLP Chartered Accountants ICAI Firm Registration Number: 301003E/E300005

Piyush Gupta .YV\W *OPLM -PUHUJPHS 6MÄJLY

Dinesh Mittal Whole-time Director, Group General Counsel & Company Secretary +05!

Rajiv Verma *OPLM ,_LJ\[P]L 6MÄJLY

Shobhana Bhartia Chairperson & Editorial Director +05!

per Vishal Sharma Partner Membership Number: 096766 Place : Date :

New Delhi May 19, 2017

ANNUAL REPORT 2016-17 173

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED MARCH 31, 2017 A.

EQUITY SHARE CAPITAL (REFER NOTE 12)

Equity Shares of ` 2 each issued, subscribed and fully paid up Particulars

Number of shares

Amount (` Lacs)

Balance as at April 1, 2015 Changes in share capital during the year

23,05,20,024 -

4,610.40 -

Balance as at March 31, 2016 Changes in share capital during the year

23,05,20,024 -

4,610.40 -

Balance as at March 31, 2017

23,05,20,024

4,610.40

B.

OTHER EQUITY (REFER NOTE 13) Items of OCI

Reserves & Surplus Particulars

Capital Capital Securities Share General reserve redemption premium Based Reserve reserve Payments Reserve

Balance as at April 1, 2015

7,608.49

2,045.45 50,572.43

Retained earnings

Foreign Currency translation reserve

87.39 7,631.48 120,344.60

NonControlling Total interest

(2.50)

188,287.34

License fees amortized

-

-

-

-

-

-

7YVÄ[ MVY [OL WLYPVK

-

-

-

-

-

-

*OHYNL JYLKP[ MVY [OL WLYPVK

-

-

-

-

-

-

*OHYNL JYLKP[ MVY [OL WLYPVK

-

-

-

-

-

-

Other comprehensive income

-