HMVL Annual Report 2015 16

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Annual Report 2015-16

BOARD OF DIRECTORS

REGISTERED OFFICE

Smt. Shobhana Bhartia Chairperson

Budh Marg, Patna-800001 Tel.: +91-612-222 3434 Fax: +91-612-222 1545

CHIEF EXECUTIVE OFFICER Shri Vivek Khanna

CHIEF FINANCIAL OFFICER Shri Ajay Jain

COMPANY SECRETARY Shri Tridib Barat

AUDITORS

Hindustan Times House (2nd Floor) 18-20, Kasturba Gandhi Marg New Delhi-110001 Tel.: +91-11-6656 1608 Fax: +91-11-6656 1445 Email: hmvlinvestor@livehindustan.com Website: www.hmvl.in

REGISTRAR & SHARE TRANSFER AGENT Karvy Computershare Private Limited Karvy Selenium Tower B Plot No. 31 & 32 Financial District Nanakramguda Serilingampally Mandal Hyderabad-500032 Tel: +91-40-6716 2222 Fax: +91-40-2300 1153 Email: einward.ris@karvy.com

Financial statements 50-96

S.R. Batliboi & Co. LLP

CORPORATE OFFICE

Statutory reports 10-49

Shri Ajay Relan Shri Ashwani Windlass Dr. Mukesh Aghi Shri Piyush G. Mankad Shri Shardul S. Shroff Shri Priyavrat Bhartia Whole-time Director Shri Shamit Bhartia Shri Benoy Roychowdhury Whole-time Director

Company overview 01-08

CORPORATE INFORMATION

02 STATUTORY REPORTS

10-49

Management Discussion and Analysis Board’s Report

10 18

Report on Corporate Governance

38

03

FINANCIAL STATEMENTS Independent Auditors’ Report Balance Sheet :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ Cash Flow Statement Notes to Financial Statements

50-96 50 56 57 58 59

9

Management Discussion and Analysis

MANAGEMENT DISCUSSION AND ANALYSIS

ECONOMIC OVERVIEW Global Economy In 2015, global economic activity remained subdued across geographies. While advanced economies witnessed a modest and largely uneven recovery, emerging markets HUK KL]LSVWPUN LJVUVTPLZ MHJLK ZPNUPÄJHU[ OLHK^PUKZ The situation is not likely to improve drastically in CY 2016. The International Monetary Fund (IMF) has revised global growth forecast to 3.2% in 2016 from 3.1% in CY 2015. The overall activity remained resilient in the US. In the Euro area, robust private consumption, supported by low oil prices HUK LHZ` ÄUHUJPHS JVUKP[PVUZ JV\U[LYIHSHUJLK [OL ^LHRLULK UL[ L_WVY[Z 1HWHU»Z NYV^[O YLTHPULK ÄYT VU [OL IHJR VM ÄZJHS Z\WWVY[ SV^LY VPS WYPJLZ HJJVTTVKH[P]L ÄUHUJPHS JVUKP[PVUZ and rising incomes. Imports and investment growth slowed in China, although consumptions grew steadily. Crude oil price trends, global geo-political tensions, economic upheaval in Europe, low commodity prices and a potential slowdown in China, are major risks for the world economy going forward.

Indian Economy Amidst the prevailing global uncertainty, India is widely seen as a bright spot of stability. It has been helped by weaker oil prices HUK TVKLYH[L PUÅH[PVU Z[YVUN KVTLZ[PJ KLTHUK HUK H WY\KLU[ THUHNLTLU[ VM [OL ÄZJHS MYHTL^VYR VM [OL JV\U[Y` 0UKPH»Z .+7 grew to 7.6% in FY 16, compared to 7.2% in FY 15 – making it the world’s fastest-growing major economy. The Government’s pro-reform policy initiatives are bolstering India’s growth. Encouragingly, India’s growth is largely driven by internal factors. During CY 2015, the country’s domestic JVUZ\TW[PVU HUK PU]LZ[TLU[ JVU[YPI\[LK ZPNUPÄJHU[S` [V [OL .+7 ;OPZ OHZ OLSWLK LUOHUJL JVUÄKLUJL VM MVYLPNU investors in India’s growth story; and has accelerated the country’s emergence as an attractive FDI destination. ProYLMVYT WVSPJ` PUP[PH[P]LZ SV^ PU[LYLZ[ YH[LZ KLJSPUL PU ÄZJHS KLÄJP[ HUK TVKLYH[L PUÅH[PVU OH]L LUHISLK [OL 0UKPHU economy to stay on an attractive growth trajectory.

MEDIA AND ENTERTAINMENT INDUSTRY OVERVIEW India’s Media and Entertainment (M&E) Industry grew to ` 1,157 billion in CY 2015 from ` 1,026 billion in CY 2014, registering 12.8% growth. During the same period, advertising revenues surged by 14.7% to ` 475 billion. The industry is expected to grow at a CAGR of 14.3% to ` 2,260 billion by 2020 with advertising revenues expected to grow to ` 994 billion at a CAGR of 15.9% (Source: FICCI KPMG Report). *CY - Calendar Year

10 Hindustan Media Ventures Limited

The print industry continues to grow at 7.8% CAGR, driven I` ZPNUPÄJHU[ [YHJ[PVU PU YLNPVUHS THYRL[Z ;OL NYV^[O PZ expected to be stronger in rural markets owing to various Government initiatives around rural development and increasing literacy, leading to circulation growth. Among traditional platforms, radio has the strongest potential for expansion at a forecasted CAGR of 18%. The migration of the FM Radio Industry from Phase II to Phase III policy regime is likely to contribute to its growth. Besides, increased advertisement inventory is expected to ILULÄ[ [OPZ PUK\Z[Y` PU [OL SVUN [LYT With robust growth in advertising revenues, television is likely to grow at a 15.1% CAGR in the near-term. Nevertheless, delays in digitisation may hinder subscription growth. A rapid increase in the number of mobile users, and improved digital infrastructure has encouraged a shift towards mobile and video advertising. This is expected to support digital advertising to grow at a CAGR of 33.5%. By 2020, digital advertising would potentially be worth ` 255 billion and is expected to contribute 25.7% of the total advertising revenues of the M&E sector.

PRINT MEDIA The print industry’s size increased by 7.6% in CY 2015, broadly in line with India’s economic growth. Its total market size by the end of the year was estimated at ` 283 billion, accounting for nearly 25% of the overall M&E industry. The industry experienced a dynamic operating environment PU *@ .YV^[O MVY W\ISPZOLYZ ^HZ ZPNUPÄJHU[ PU [OL ÄYZ[ OHSM I\[ YLTHPULK SHYNLS` T\[LK PU [OL ZLJVUK half. This change was primarily due to a few sectors reducing advertising spends in line with their economic performance. A slight decline in year-on-year ad growth was witnessed, compared to 8% growth in CY 2014, due to a reduction in spends by a few sectors. Despite the decline in the print media industry, the traditional newspaper business continues to grow steadily at 8% due to sustained advertiser interest and the existing reader base, even as the industry makes inroads into new technological opportunities to enhance content quality, service delivery and reader engagement. The intrinsic focus is on integrating the traditional medium of news distribution with advances in digital, mobile and the web platforms.

Annual Report 2015-16

Company overview 01-08

India is continuously focusing on holistic growth. Rising consumption, growing infrastructure, expanding access to better health, and growing employment opportunities will encourage advertisers to increase their spends. Effectively, the WYPU[ TLKPH PZ ^LSS WVZP[PVULK [V ILULÄ[ MYVT [OL WVZP[P]L THJYV [YLUKZ WYL]HPSPUN PU 0UKPH

PERFORMANCE OF THE INDIAN PRINT INDUSTRY Print media market

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2015

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2019P

2020P

CAGR (20152020P)

Advertising Circulation

139 69

150 75

163 81

176 87

189 94

7.3% 8.2%

204 101

222 108

242 114

263 121

286 127

8.6% 6.1%

Total print market Newspaper revenue Magazine revenue

209 197 12

224 211 13

243 230 14

263 249 14

283 269 14

7.6% 8.0% 1.6%

305 291 14

330 316 13

356 343 13

384 371 13

412 399 13

7.8% 8.2% (1.8)%

Total print market

209

224

243

263

283

7.6%

305

330

356

384

412

7.8%

Statutory reports 10-49

` billion

Source: KPMG in India analysis, Industry discussions conducted by KPMG in India

GROWTH DRIVERS OF PRINT MEDIA

2. Rise in readership: Newspapers continue to command a major portion in the total revenue, generated by India’s print industry. Even though circulation expanded steadily, there lies H ZPNUPÄJHU[ ZJVWL MVY L_WHUZPVU ZPUJL H THYRLK NHW L_PZ[Z between ‘can read’ and ‘do read’ categories. With improving literacy rates, the young and the aspiring population in smaller towns is consistently driving readership. 3. Print remains preferred category for advertisers: Print advertising witnessed 7.3% growth in CY 2015, driven by increase in ad spends by FMCG and e-commerce advertisers. FMCG continued to maintain the leadership position in the print advertising pie. Although e-commerce ad spends grew strongly in English print media, its penetration into regional print media remains low. However, as new publications and editions JVU[PU\L [V MVJ\Z VU YLNPVUHS THYRL[Z L JVTTLYJL ÄYTZ are likely to start exploring this as an opportunity. The lending rates for corporates fell with the reduction of repo rate by the Reserve Bank of India. It has subsequently,

During the year, there was a slight dip in the contribution of Banking, Financial Services and Insurance (BFSI Sector). However, the positive development of many new banks being set up, and the growth of NBFCs, is likely to propel ad spends in the future. Telecom players contributed 4% to the total ad spends. Higher spending by telecom companies to promote their 4G services is expected to boost the advertising industry by 10-15% in CY 2016. The Government of India and state governments are focusing on media, including newspapers to communicate their initiatives, priorities and on-going work. In FY 16, their ad spends revolved around ‘Make in India’, Swachh Bharat Abhiyan and ‘Digital India’ campaigns. The recent elections in West Bengal, Tamil Nadu, Kerala and Assam largely increased the ad spends by the state governments and political parties. The growing focus on Tier-II and Tier-III cities is likely to drive advertising spends in the next few years. This expectation rests on the fact that non-metro cities now contribute as much as 35% to the total sales of India’s luxury brands. The consumption of FMCG products in Tier-ll, Tier-lll and Tier-lV cities is expected to account for nearly 45% of the total consumption in 2025.

11

Financial statements 50-96

1. Rise in registered publications: The credibility of newspapers and printed word is high in India. As a result, [OL WYPU[ TLKPH JVU[PU\LZ [V ^P[ULZZ H Z[LHK` PUÅV^ VM new newspapers. Registered publications grew to 5,817 in FY 15 from 5,642 in FY 14, reporting 3.1% increase.

spurred credit growth. As a result, auto and durables sectors witnessed some growth and their contributions to ad volumes are expected to go up in CY 2016.

Management Discussion and Analysis

BIG SPENDERS ON PRINT ADVERTISING Categories

2010

2011

2012

2013

2014

2015

FMCG Auto Education Real estate and home improvement

7.4% 7.1% 14.6% 8.0%

8.9% 9.8% 10.6% 8.4%

10.3% 11.4% 10.6% 8.6%

12.3% 11.7% 9.7% 8.7%

13.5% 11.9% 9.4% 8.0%

14.6% 12.8% 9.8% 7.0%

Clothing/fashion/jewellery E-commerce Telecom/internet/DTH Retail BFSI Election/political ads Household durables Travel and tourism Corporate Media Others

5.3% 6.3% 5.8% 8.7% 5.3% 2.5% 3.0% 2.2% 23.6%

6.5% 4.7% 5.6% 6.7% 5.7% 2.8% 2.8% 1.5% 25.7%

7.1% 4.1% 5.8% 5.7% 4.9% 2.3% 2.2% 11.4% 25.3%

6.1% 1.0% 3.6% 5.7% 6.0% 0.6% 3.9% 1.9% 1.7% 1.4% 25.4%

6.1% 2.2% 3.7% 5.3% 4.8% 1.7% 4.2% 1.7% 1.4% 1.1% 24.9%

6.0% 4.3% 3.8% 5.6% 4.7% 4.6% 1.9% 1.3% 1.0% 22.4%

Change in 2015

Source: Pitch Madison Reports

Advertising Scenario Review Advertising remains the backbone of print industry, accounting for more than 66% of the total revenue, whereas circulation revenue made up for the rest. However, a slight decline in year-on-year ad growth was witnessed due to a reduction in spends by a few sectors. With readership largely limited to India’s metro and Tier-I cities, the trend of English newspapers dominating the advertising budgets of companies is slowly declining. Advertisers have started factoring in vernacular print media in their plans, as they directly reach customers in the rapidly growing and prospering Tier-II and Tier-III cities. The print industry is relatively less dependent on circulation revenue, with the trend more visible among the leading companies in this sector.

from US, Canada and other parts of the world. Cost of newsprint also reduced due to innovative strategies of using 40 GSM paper by the Company.

CONSUMPTION OF NEWSPRINT IN INDIA (MILLION MT)

2.14 49%

50%

51%

50%

FY11

Russian newsprint prices were substantially lower as compared to last year due to weakening of Rouble vs. Dollar. This impacted the newsprint prices by the suppliers

12 Hindustan Media Ventures Limited

2.64

2.13

FY12 Domestic

4. Softness in newsprint prices: Newsprint prices fell considerably in FY 16, from FY 15. A correction of about 7% in newsprint prices resulted in a number of companies witnessing positive EBITDA margins in FY 16 due to savings in input costs.

2.91

2.66

48%

51%

52%

49%

FY13

FY14

53% 47%

FY15

Imported

Source: KPMG - FICCI Indian Media and Entertainment Industry Report 2016.

)TQYKPI UKIPKĹżECPEG QH NCPIWCIG PGYURCRGTU Growth in newspaper readership in India is led by the expansion of Hindi and other vernacular publications. This is evident in rural and small towns with existing publications launching new editions, and new publications entering the market.

Annual Report 2015-16

6. Hyperlocalisation: Given the strong growth prospects, there is a renewed focus by advertisers on Tier II, Tier III and towns. Conventional business models that were relevant for metros are getting disrupted. Today, it is important to have localized strategies aligned to the expectations and aspirations of each individual market. To this end, print companies are going hyperlocal too, particularly in markets with lower internet penetration, launching their leading properties that cater to audiences in a restricted format.

With the focus on regional markets, various brands have integrated the regional component to their advertising spending. Several companies launched campaigns in local languages that gave them more resonance, compared to those launched in English.

Advertisers who intend to save their marketing and advertising costs, earn a healthier ROI, and simultaneously, reach every nook and corner of the country, have naturally expanded their efforts in the hyperlocal space.

Market Growth

The spending power of Tier-ll and Tier-lll cities has increased due to the growing income levels and transforming demographics. Print media is focusing on delivering content in the readers’ native language to serve the needs of this audience.

Statutory reports 10-49

print is lower as compared to Hindi and vernacular media. The Hindi print media market increased to ` 91 billion in CY 2015, from ` 83 billion in CY 2014. Vernacular print media grew 9% over the same period, reaching ` 91 billion in CY 2015.

Company overview 01-08

Undoubtedly, Hindi and vernacular publications dominate newspaper readership. The emerging middle-class population in smaller towns speaking different languages, is increasing the focus on local messaging in regional languages.

Besides, the high GDP growth rate of Hindi-speaking states, contributed to growth of Hindi and vernacular print publications. States like Bihar, Madhya Pradesh, Rajasthan and Uttar Pradesh have consistently outpaced the national average and are growing rapidly.

Hindi and vernacular segments together contributed nearly 64% of the total print revenue. Readership growth of English

` billion 2011

2012

2013

2014

2015

GROWTH IN 2015

2016P

2017P

2018P

2019P

2020P

CAGR (20152020P)

English Market Advertising Circulation

83 57 26

86 59 27

91 62 29

96 65 31

101 69 32

4.9% 4.7% 5.2%

105 72 33

109 75 34

113 79 34

117 82 35

121 86 36

3.8% 4.6% 2.0%

Hindi Market Advertising Circulation

62 41 22

68 45 24

75 50 26

83 54 29

91 59 32

9.4% 8.2% 11.7%

101 64 36

111 71 40

122 79 43

133 87 46

145 95 49

9.6% 10.2% 8.7%

Vernacular Market Advertising Circulation

63 42 21

69 46 24

76 51 26

84 57 27

91 62 29

9.0% 9.5% 8.0%

100 68 32

110 76 34

121 85 37

133 94 39

146 105 42

9.9% 11.1% 7.3%

Total Print Market

209

224

243

263

283

7.6%

305

330

356

384

412

7.8%

Source: KPMG in India anlysis, Industry discussions conducted by KPMG in India

PRINT MEDIA’S RELEVANCE VIS-À-VIS DIGITAL MEDIA (S[OV\NO [OL WH[[LYU VM UL^Z JVUZ\TW[PVU PZ JOHUNPUN [OL WV[LU[PHS MVY [OL WYPU[ PUK\Z[Y` NYV^[O PZ ZPNUPÄJHU[ 5L^ZWHWLYZ OH]L JVU[PU\LK [V ÄUK HJJLW[HUJL HTVUN TVZ[ VM 0UKPHU OV\ZLOVSKZ 0UK\Z[Y` [YLUKZ PUKPJH[L [OH[ UL^ZWHWLYZ HYL Z[PSS [OL WYPTHY` ZV\YJL VM PUMVYTH[PVU MVY TPSSPVUZ PU [OL JV\U[Y` ;OLYL PZ H KLÄUP[L ZOPM[ PU MH]V\Y VM KPNP[HS TLKPH LZWLJPHSS` among young audiences. Yet the print medium has its own charm and loyal reader base. In many cases the digital

13

Financial statements 50-96

CONTRIBUTION OF LANGUAGE MARKETS Print media language market mix

Management Discussion and Analysis

editions serve as an extension of (and not a replacement of) the printed newspaper. This means that the newspaper circulation is still growing, reinforcing the strong foothold of the print industry. Easy accessibility, door-to-door delivery, affordability, comfort and habit of reading a physical copy make print media companies relevant even today. The Indian newspaper industry continues to grow and simultaneously, embrace the digital medium gradually, but consistently.

Interestingly, the reach of regional TV news channels is ILULÄJPHS [V UL^ZWHWLY JPYJ\SH[PVU 7LVWSL ^OV ^H[JO television news, turn to newspapers to validate facts, and the potential impact of developments. This acts as a booster for newspaper circulation. In an age when India adds three new users to the internet every second (Source: The Economist), print media continues to generate strong interest from traditional HK]LY[PZLYZ -4*. H\[VTV[P]L ÄUHUJPHS ZLY]PJLZ HUK durables). Print media facilitates deeper reader engagement and provides wider access to the advertiser’s target group.

ADVERTISEMENT REVENUE COMPOSITION

2020(P)

2015

Print 40%

TV 38%

Digital Advertising 13%

DDH 5%

Radio 4%

TV 37% Print 29%

Digital Advertising 26%

DDH 4%

Radio 4%

Source: KPMG - FICCI Indian Media and Entertainment Industry Report 2016.

OPPORTUNITIES AND THREATS

COMPANY OVERVIEW

The Indian M&E industry is going through a rapid structural transformation. The industry’s growth is progressively driven by increased consumer spending. Tier-II and Tier-III cities are becoming attractive markets for media companies. Greater use of smartphones and high-speed internet connectivity across the country is expected to support the evolving e-commerce and social media trends. With the recent auction of FM Radio Phase III licenses, the FM radio market is expected to grow at a CAGR of 18% by 2020.

HMVL is present in Delhi-NCR, Uttarakhand, Uttar Pradesh, Bihar and Jharkhand. With a combined readership of TPSSPVU /PUK\Z[HU /4=3ÂťZ Ă…HNZOPW UL^ZWHWLY PZ [OL second-largest newspaper in India. It is the No. 1 newspaper in the Hindi heartland. It also holds the No. 1 position in Bihar, Jharkhand, Uttarakhand and No. 2 position in UP.

The print industry faces the risk of decreasing readership with the ongoing digital revolution and online consumption of news and entertainment. However, in India online news has not yet THKL HU` ZPNUPĂ„JHU[ PTWHJ[ VU UL^ZWHWLY JPYJ\SH[PVU ^P[O H vast number of people still outside the readership ambit in any media. This trend is also due to low internet penetration, easy accessibility of newspapers and existing print consumption patterns of Indian readers. However, it could pose a risk to the media companies that are not proactive on the digital front.

14 Hindustan Media Ventures Limited

Hindustan is HMVL’s primary growth driver, delivering consistent double-digit growth. The newspaper has created H Z\IZ[HU[PHS MYHUJOPZL JVU[YPI\[PUN ZPNUPÄJHU[S` [V [OL *VTWHU`Z WYVÄ[HIPSP[` From a pricing point of view, there was a clear upward movement in the UP market. The brand’s strong performance PU [OPZ Z[YH[LNPJHSS` PTWVY[HU[ YLNPVU JVU[YPI\[LK ZPNUPÄJHU[S` to Hindustan’s growth in FY 16. HMVL’s reader-engagement activities such as Hindustan Shikhar Samagam in UP, Hindustan Bihar Samagam and Hindustan Uttarakhand Samagam continue to play a crucial role in consolidating and expanding reader base.

Annual Report 2015-16

The Company’s total revenue increased from ` 875 crore in FY 15 to ` 979 crore in FY 16, registering 11.9% growth over the previous year. This growth was primarily driven by 14.7% increase in advertising revenue owing to a surge in advertising volumes. A 6.8% increase in circulation revenue also contributed to the growth in the Company’s overall topline.

Value creation for brand partners Through the ‘Partnership for Growth’ initiative, advertising partners, predominantly in the real estate, were supported to enhance their communication objectives. This way, HMVL helps value-creation for its brand partners. The Company also adopted integrated Print + Digital offerings MVY [YHKP[PVUHS WYPU[ HK]LY[PZPUN ZLNTLU[Z SPRL JSHZZPÄLKZ and education, to offer greater value.

Company overview 01-08

FINANCIAL PERFORMANCE, FY 16 Revenue

Higher price realisation from ads EBITDA grew from ` 223 crore in FY 15 to ` 278 crore in FY 16, registering 25% growth over the previous year. This was primarily driven by a growth in advertising and circulation, partly off-set by 16% increase in employee costs. Besides, there was 33% increase in sales and promotion costs to support Haldwani, Lucknow, Dehradun and Kanpur relaunch.

In FY 16, growth in ad revenues was a result of new initiatives and cross-selling. Despite challenges, HMVL increased operating rates across markets and categories, which demonstrated the strength of reach. With the economy on an upswing, the potential for growth in FY 17 is more pronounced.

EPS

Capacity expansion

Annual EPS stood at ` 24.60 as compared to ` 19.19 in the last year.

The Company continued to expand its footprint and printing capacities in FY 16 with the addition of a new unit in Haldwani, Uttarakhand. Capacity upgrades were also undertaken at Lucknow and Ranchi.

PAT

Dividend A dividend of ` 1.20 per share was recommended by the Board.

HUMAN CAPITAL MARKETING INITIATIVES Marketing solutions for brands During FY 16, HMVL’s primary focus was on widening geographical footprint and higher reader-engagement initiatives. This would further consolidate HMVL’s leadership position in the markets where it is present. In addition, the O`WLYSVJHS Z[YH[LN` ^HZ ÄUL [\ULK [V LUZ\YL [OH[ [OLYL was alignment with local issues. A concerted effort was made to augment the advertiser base across markets - metros, Tier-lll & lV towns and international advertisers. HMVL is conscious of the need to move from the position of a service provider, to that of a solutions provider. This is because rising competition, multiple media platforms and fragmented consumer reach, are making media planning and buying an intensely complex exercise for advertisers. They prefer partners who offer holistic solutions which are designed to achieve the desired ROI on media spends. During FY 16, HMVL focused on building solutions that helped customers achieve their brand objectives, and [HYNL[Z PU HU LMÄJPLU[ HUK LMMLJ[P]L THUULY

During FY 16, the Company focused on strengthening the behavioural and functional skills of employees through various training initiatives. 100 Digital Champions were chosen in the editorial team through assessments, and they were tasked with imparting digital knowledge to the larger editorial team. A workshop for ‘People Leaders’ called LEAD has enabled /4=3 [V PKLU[PM` HUK PUÅ\LUJL RL` Z[HRLOVSKLYZ [V KYP]L the organisation’s performance. As part of ensuring greater transparency, a Performance Management System based on the Balanced Scorecard was implemented. The people agenda focused on retention of key personnel, strengthening of employee engagement and building competencies to ensure high performance. Additionally, workforce analytics are increasingly used to seek timely inputs and insights into people issues. As on March 31, 2016, HMVL’s people strength stood at 2,309.

15

Financial statements 50-96

PAT increased by 28% to ` 180.6 crore from ` 141 crore due to an improvement in EBITDA being partially off-set by increase in tax expense.

Investments made in increasing product-reach across markets are yielding positive results. A cover price increase was initiated across markets based on product strength and market reach. However, circulation numbers were not HMMLJ[LK I` [OPZ KLJPZPVU ;OPZ LTWOHZPZLZ [OL JVUÄKLUJL the readers have in HMVL’s products.

Statutory reports 10-49

EBITDA

Management Discussion and Analysis

Women at workplace

AWARDS AND ACCOLADES

HMVL follows a strict policy to ensure the safety of women at workplace. The Company 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 Complaints Committee (ICC) is in place. Two complaints were reported during FY 16, which were adequately dealt with by the ICC.

Hindustan was conferred the National Media Award for initiatives in the area of ‘Voter Awareness’ during the recent Bihar elections. The award was presented by the President of India, Shri Pranab Mukherjee on National Voters Day on 1HU\HY` 0U `L[ HUV[OLY ZPNUPÄJHU[ HJOPL]LTLU[ Limca Book of Records recognised Hindustan’s successful campaign ‘Gorakhpur Mange AIIMS’. As part of the effort, a record 1,39,139 letters were despatched from one post VMÄJL PU [OL JP[` [V [OL 7YPTL 4PUPZ[LY»Z 6MÄJL [V WYLZZ MVY the demand.

TECHNOLOGY: COMPREHENSIVE TRANSFORMATION -@ ^HZ [OL KLÄUPUN `LHY MVY H JVTWYLOLUZP]L º>H]L » transformation of information technology in the Company. A new framework ‘e2i’ (enterprise to internet) has seen the rollout of powerful capabilities at the applications and infrastructure layers, using both enterprise (classic) and internet (contemporary) styles of technologies. Wave 1 transformation has touched several facets of the business, covering news, digital, revenue, radio, education and enterprise. The quantum shift achieved through the ÄYZ[ ^H]L PU 0; WYV]PKLK H MV\UKH[PVU MVY JVTWL[P[P]L differentiation, and will be followed by a ‘Wave 2’.

New media marketing tool There is a major transformation of IT for revenue generation – notably for media marketing and circulation. A new strategic pricing tool for media marketing namely, ‘iPrice’ was launched for enhancing yield, using advanced built-in statistical modelling tools. The legacy CRM system is being replaced with industry leading SalesForce.com SaaS platform to provide comprehensive automated ad-sales capabilities for media marketing. A new platform ‘iProbe’ was launched to support automated commercial reconciliation for ad-revenue. Circulation launched a brand new CRM capability, based on Microsoft Dynamics SaaS platform to improve acquisition and retention.

RISK MANAGEMENT The Company’s robust business risk management framework helps identify and evaluate business risks and opportunities. A risk management policy, at the holding company level is in place, to assess and address business risks on a regular basis. A detailed enterprise risk PKLU[PÄJH[PVU L_LYJPZL PZ JHYYPLK V\[ WLYPVKPJHSS` [V PKLU[PM` ]HYPV\Z Z[YH[LNPJ VWLYH[PVUHS ÄUHUJPHS HUK JVTWSPHUJL related risks, and they are evaluated for their likelihood and potential impact. Some of the uncertainties and risks that can affect the business are technological changes, changing customer preferences and behaviour, competition, volatility in prices of news print, and macroeconomic factors like economic slowdown. To maintain its competitive edge and minimise exposure, the Company has undertaken various initiatives such as enhancement of existing technological capabilities and digital properties, increasing its geographical presence and continued investment in its print facilities. As far as volatility in newsprint prices is concerned, it is being managed by the use of lower GSM newsprint, page rationalisation, a dynamic hedging policy and effective cost management through total cost productivity.

INTERNAL CONTROL Platform upgrade for HR HR was further strengthened with the launch of a new ‘Cornerstone on Demand’ SaaS platform for talent management. This platform is being further extended to create ‘Edge’, a brand new learning and development portal to strengthen the Company’s capabilities for training.

HMVL has an adequate system of internal control commensurate with its size, nature of business and complexity of operations. These controls ensure accurate, YLSPHISL HUK [PTLS` JVTWPSH[PVU VM ÄUHUJPHS HUK THUHNLTLU[ information reports and optimum utilisation of resources. ;OL PU[LYUHS JVU[YVS TLJOHUPZT JVTWYPZLZ H ^LSS KLÄULK

OneIndia: Amplifying reach at a reduced cost OneIndia is an alliance of 3 media houses including HMVL which, offers a single window for national brands to place display ads in 8 newspapers across India at one go.

16 Hindustan Media Ventures Limited

Annual Report 2015-16

The internal control system is supplemented by extensive programme of internal audits, and post audit reviews by the management. The in-house internal audit function, supported I` WYVMLZZPVUHS L_[LYUHS H\KP[ Ă„YTZ JVUK\J[ JVTWYLOLUZP]L risk-focused audits across locations & functions, to ensure a proper system of control.

Print media will continue to hold relevance in the Indian M&E industry. With a growing focus on Tier-II, Tier-III & rural areas, FMCG, auto, retail and e-commerce advertisers are likely to increase their ad spends in these markets. Against this backdrop, print ad spends are expected to grow at 7.8% in FY 17, in line with GDP growth. Within this, stronger players with a strong foothold in key consumer markets are expected to do better than industry. HMVL is optimistic about the future, keeping in view the strong growth outlook and Hindi dailies riding high on growing literacy rates in the relevant geographies. The HMVL brand continues to grow faster than the industry PU [LYTZ VM YL]LU\L HUK WYVĂ„[ ;OPZ YVI\Z[ WLYMVYTHUJL coupled with expected improvement in the macroLJVUVTPJ LU]PYVUTLU[ YLZ\S[Z PU JVUĂ„KLUJL [OH[ /4=3 will continue outperforming the market in FY 17.

CAUTIONARY STATEMENTS Certain statements in this Annual Report may be forward-looking statements. Such forward-looking statements are subject to risks and uncertainties like regulatory changes, local political or economic developments, technological risks and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Hindustan Media Ventures Limited will not, in any way, be responsible for HU` HJ[PVU [HRLU IHZLK VU Z\JO Z[H[LTLU[Z HUK \UKLY[HRLZ UV VISPNH[PVU [V W\ISPJS` \WKH[L [OLZL MVY^HYK SVVRPUN Z[H[LTLU[Z [V YLĂ…LJ[ Z\IZLX\LU[ L]LU[Z or circumstances. Disclaimer: All data used in the initial sections of the report (including the MD&A) have been taken from publicly available sources and discrepancies, if any, are incidental and unintentional.

17

Financial statements 50-96

Although the Company’s advertising revenue grew at a slower pace (nearly 14.7%) in FY 16 , it is expected [V Z[H` VU [OL NYV^[O [YHQLJ[VY` V]LY [OL UL_[ Ă„]L `LHYZ Hindustan is poised to be in a commanding position in FY 17 with improved margins from increase in volume and yield, and savings in newsprint cost. HMVL strongly believes in its corporate credo of ‘Tarakki To Tay Hai’ (growth is assured), both for the Company and for its stakeholders.

Statutory reports 10-49

The Company uses a robust ERP system (SAP) for accounting across its locations. The Shared Service Center ::* LUOHUJLZ [OL YLSPHIPSP[` VM Ă„UHUJPHS HUK VWLYH[PVUHS information, provides automated controls and covers the segregation of duties. The purchase committees across locations too, strengthen the approval mechanism. The Company has set-up an online statutory compliance tool and reporting on the compliance tool is subject to concurrent audit.

OUTLOOK

Company overview 01-08

VYNHUPZH[PVUHS Z[Y\J[\YL ^P[O JSLHYS` KLÄULK H\[OVYP[` levels and documented policies, guidelines and procedures covering all business areas and functions. These systems have been designed to safeguard the Company’s assets and interests, and also ensure compliance with the Company’s policies, procedures and applicable regulations.

Board’s Report

BOARD’S REPORT Dear Shareholders, @V\Y +PYLJ[VYZ HYL WSLHZLK [V WYLZLU[ [OLPY 9LWVY[ [VNL[OLY ^P[O [OL (\KP[LK -PUHUJPHS :[H[LTLU[Z MVY [OL ÄUHUJPHS `LHY ended on March 31, 2016.

FINANCIAL RESULTS @V\Y *VTWHU`»Z WLYMVYTHUJL K\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO PZ Z\TTHYPaLK ILSV^! (` In Lacs) 2015-16

2014-15

Total Income Earnings before interest, tax, depreciation and amortization (EBITDA) Less: Depreciation and amortization expense Less: Finance costs

97,927.49

87,502.79

27,845.89 2,249.50 1,133.23

22,293.28 2,432.27 1,053.59

7YVÄ[ ILMVYL ;H_ Less: Tax Expense Current Tax Deferred Tax charge / (credit)

24,463.16

18,807.42

6,179.74 228.73

4,741.78 (20.53)

7YVÄ[ MVY [OL `LHY MYVT JVU[PU\PUN VWLYH[PVUZ Add: )HSHUJL HZ WLY SHZ[ ÄUHUJPHS Z[H[LTLU[Z

18,054.69 41,363.46

14,086.17 28,414.59

880.73

880.73

179.29 -

179.29 77.28

58,358.13

41,363.46

Particulars

Amount available for appropriation Appropriations 7YVWVZLK ÄUHS LX\P[` KP]PKLUK B`1.20 per Equity Share of `10/- each i.e. 12% (previous year – `1.20 per Equity Share i.e. @ 12%)] Tax on proposed equity dividend Adjustments in reserves on account of change in life of assets as per the Companies Act, 2013 5L[ Z\YWS\Z PU [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

DIVIDEND Your Directors are pleased to recommend a dividend of `1.20 per Equity Share of `10/- each i.e. @ 12% (previous year – ` WLY ,X\P[` :OHYL P L ' MVY [OL ÄUHUJPHS year ended on March 31, 2016 and seek your approval for the same. The proposed dividend payment, including Corporate +P]PKLUK +PZ[YPI\[PVU ;H_ ^V\SK LU[HPS HU V\[ÅV^ VM `1,060.02 Lacs (previous year ` 1,060.02 Lacs).

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

SCHEME OF ARRANGEMENT With a view to create a separate entity focused on the emerging opportunities in the digital media space, your

18 Hindustan Media Ventures Limited

Directors had approved a Scheme of Arrangement u/s 391-394 of the Companies Act, 1956 between the Company and HT Digital Streams Limited, a wholly-owned subsidiary of HT Media Limited (holding company), for transfer and vesting of the Multi-media Content Management Undertaking of the Company to and in HT Digital Streams Limited, as a 'going concern' on a slump exchange basis (“Scheme”). In the said connection, pursuant to the order of the Hon’ble High Court of Judicature at Patna, meetings of Equity Shareholders and Unsecured Creditors of the Company were convened, wherein the Scheme was approved with requisite majority. The petition seeking sanction of the Scheme is pending before the Hon’ble High Court of Judicature at Patna.

RISK MANAGEMENT Your Company has a robust risk management framework to identify, evaluate and mitigate business risks. A detailed statement indicating development and implementation of a YPZR THUHNLTLU[ WVSPJ` PUJS\KPUN PKLU[PÄJH[PVU [OLYLPU [OL various elements of risk, is appearing in the Management Discussion and Analysis.

Annual Report 2015-16

The information required to be disclosed pursuant to the provisions of the Securities and Exchange Board of India :OHYL )HZLK ,TWSV`LL )LULÄ[Z 9LN\SH[PVUZ YLHK with SEBI’s circular no. CIR/CFD/POLICY CELL/2/2015 dated June 16, 2015 is available on the Company’s website viz. www.hmvl.in.

The Independent Directors were evaluated on various parameters, including functional skill-set, quality of inputs/ suggestions, engagement & participation in key business KLJPZPVUZ H^HYLULZZ VM [OL YPZR WYVĂ„SL VM [OL PUK\Z[Y` L[J

Company overview 01-08

EMPLOYEE STOCK OPTION SCHEME

The Board would endeavour to use the results of the evaluation process constructively, improve its own effectiveness and deliver performance.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the year under review, Shri Vikram Singh Mehta, Non-executive Independent Director and Shri Rajiv Verma, Non-executive Director tendered resignation from the Board of Directors of the Company w.e.f. June 12, 2015 and September 11, 2015, respectively. The Board places on record its sincere appreciation for the valuable contribution made by Shri Vikram Singh Mehta and Shri Rajiv Verma during their tenure on the Board of Directors of the Company. There has been no change in Key Managerial Personnel during the year under review.

PERFORMANCE EVALUATION The Board undertook a formal evaluation of its own performance and that of its Committees & individual Directors. The Nomination & Remuneration Committee led the evaluation process. Structured questionnaires were devised and circulated to all the Directors of the Company seeking their feedback on Board effectiveness and performance of Individual Directors, Board Committees & the Chairperson.

Statutory Auditors

The members of the Company at their AGM held on September 8, 2014, had appointed S.R. Batliboi & Co. LLP, *OHY[LYLK (JJV\U[HU[Z B-PYT 9LNPZ[YH[PVU 5V ,D (“SRBâ€?) as statutory auditors of the Company, to hold VMĂ„JL [PSS [OL JVUJS\ZPVU VM [OL [OPYK JVUZLJ\[P]L (.4 [V IL OLSK PU [OL JHSLUKHY `LHY Z\IQLJ[ [V YH[PĂ„JH[PVU VM their appointment at the AGM to be held in the calendar year 2015). Accordingly, the appointment of SRB as Z[H[\[VY` H\KP[VYZ ^HZ YH[PĂ„LK H[ [OL (.4 OLSK VU (\N\Z[ 28, 2015. In terms of the provisions of Section 139 and other applicable provisions of the Companies Act, 2013 and rules made thereunder, the Audit Committee and Board of Directors recommend the re-appointment of SRB as statutory auditors of the Company, till the conclusion of AGM to be held in calendar year 2017. The Company OHZ YLJLP]LK H JLY[PĂ„JH[L MYVT :9) [V [OL LMMLJ[ [OH[ their re-appointment as statutory auditors shall be in accordance with the provisions of Section 141 of the Companies Act, 2013. ;OL (\KP[VYZÂť 9LWVY[ PZ \UTVKPĂ„LK P L P[ KVLZ UV[ JVU[HPU HU` X\HSPĂ„JH[PVU YLZLY]H[PVUZ VY HK]LYZL YLTHYRZ 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 N.C. Khanna, Company Secretary-inPractice (C.P. No. 5143) as Secretarial Auditor, to conduct the Secretarial Audit for Financial Year 2015-16. The Secretarial Audit Report is annexed herewith as Annexure “Aâ€?. ;OLYL HYL UV X\HSPĂ„JH[PVUZ YLZLY]H[PVUZ VY HK]LYZL YLTHYRZ in the Secretarial Audit Report. During the year under review, the Statutory Auditors and the Secretarial Auditor have not reported any incident of fraud under Section 143 (12) of the Companies Act, 2013.

RELATED PARTY TRANSACTIONS All contracts / arrangements / transactions entered into by the Company with related parties during the year under review, were on arm’s length terms and were placed before

19

Financial statements 50-96

(SS 0UKLWLUKLU[ +PYLJ[VYZ VM [OL *VTWHU` OH]L JVUĂ„YTLK that they meet the criteria of independence as prescribed under both, the Companies Act, 2013 and of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulationsâ€?).

AUDITORS Statutory reports 10-49

During the year under review, Dr. Mukesh Aghi was appointed as Independent Director, not liable to retire I` YV[H[PVU [V OVSK VMĂ„JL MVY Ă„]L JVUZLJ\[P]L `LHYZ for a term up to March 31, 2020. Further, the Board of Directors had appointed, subject to approval of members, Shri Priyavrat Bhartia as Whole-time Director of [OL *VTWHU` MVY H WLYPVK VM Ă„]L `LHYZ ^ L M October 1, 2015. Your Directors recommend the appointment of Shri Priyavrat Bhartia as Whole-time Director of the Company at the ensuing Annual General Meeting (AGM). Further, 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 also recommend his re-appointment at the ensuing AGM.

Board’s Report

the Audit Committee for review and approval. During the year under review, the Company had entered into one transaction with a related party which was material as per the policy on ‘Materiality of and dealing with Related Party Transactions’ (available on Company’s website viz. www.hmvl.in). In terms of the said transaction, the Company acquired ‘Hindustan’ and other Hindi publication related trademarks from HT Media Limited (holding company) at a consideration of ` 62 Crore (excluding taxes and other statutory levies). The above transaction was approved by the shareholders of the Company at the AGM held on August 28, 2015. The required particulars of the said transaction in form AOC-2, is annexed herewith as Annexure – “Bâ€?. Reference of the members is invited to Note no. 31 to [OL Ă„UHUJPHS Z[H[LTLU[Z ^OPJO ZL[Z V\[ [OL YLSH[LK WHY[` disclosures as per Accounting Standard 18.

CORPORATE SOCIAL RESPONSIBILITY The Company has constituted the Corporate Social Responsibility (CSR) Committee of 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. The CSR Committee formulated and recommended to the Board, a CSR Policy indicating the activities to be undertaken by the Company, which was approved by the Board. The CSR Policy of the Company is available on the Company’s website viz. www.hmvl.in. The Annual Report on CSR activities during FY 16 is annexed herewith as Annexure “C�.

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

ii)

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; 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 [OL *VTWHU` HZ VU 4HYJO " HUK VM [OL WYVĂ„[ of the Company for the year ended on March 31, 2016;

PPP WYVWLY HUK Z\MĂ„JPLU[ JHYL OHZ ILLU [HRLU for the maintenance of adequate accounting

20 Hindustan Media Ventures Limited

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[ [OL Z\JO PU[LYUHS Ă„UHUJPHS JVU[YVSZ ^LYL HKLX\H[L HUK 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 the loans availed. Particulars of loans given, investments made, guarantees/ securities given: The details of investments made and loans/guarantees/securities given, as applicable form part VM [OL UV[LZ [V [OL Ă„UHUJPHS Z[H[LTLU[Z Board Meetings: +\YPUN [OL Ă„UHUJPHS `LHY LUKLK VU 4HYJO [OL )VHYK TL[ Ă„]L [PTLZ VU 4H` July 14, 2015, October 26, 2015, November 19, 2015 and January 25, 2016 . For further details, members may please refer Report on Corporate Governance. Committees of the Board: The Board has JVUZ[P[\[LK Ă„]L Z[HUKPUN JVTTP[[LLZ ]Pa (\KP[ *VTTP[[LL Nomination and Remuneration Committee, Corporate Social Responsibility Committee, Investment and Banking Committee and Stakeholders’ Relationship Committee. A detailed note on the Board and its Committees is provided under the Report on Corporate Governance. Remuneration Policy: The Board, on the recommendation of the Nomination and Remuneration Committee has framed a policy on appointment of Directors, Key 4HUHNLYPHS 7LYZVUULS ZLUPVY THUHNLTLU[ HUK Ă„_PUN their remuneration. Vigil Mechanism: A “Whistle Blower Policyâ€? (vigil mechanism) is in place to provide opportunity to directors/ employees/stakeholders of the Company to report concerns about unethical behavior, actual or suspected

Annual Report 2015-16

Disclosures pertaining to remuneration and other details 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 is annexed herewith as “ Annexure “E�.

Corporate Governance Report: The Report on Corporate Governance in terms of SEBI Regulations, forms part of [OPZ (UU\HS 9LWVY[ ;OL JLY[PĂ„JH[L PZZ\LK I` H *VTWHU` Secretary-in-Practice, in terms of the requirement of the SEBI Regulations is annexed herewith as Annexure “Gâ€? Energy conservation, technology absorption and foreign exchange earnings & outgo: The information on conservation of energy, technology absorption and foreign exchange earnings & outgo as required to be disclosed under the Companies Act, 2013, is annexed herewith as Annexure “Hâ€?.

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. 3. Issue of shares (including sweat equity shares) to employees of the Company under any scheme of the Company. 5V ZPNUPĂ„JHU[ 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. There was no change in the Share Capital of the Company during the year under review. 5V TH[LYPHS JOHUNLZ JVTTP[TLU[Z HMMLJ[PUN [OL Ă„UHUJPHS position of the Company have occurred after the end of the Ă„UHUJPHS `LHY HUK [PSS [OL KH[L VM [OPZ YLWVY[ @V\Y *VTWHU` OHZ PU WSHJL HKLX\H[L PU[LYUHS Ă„UHUJPHS JVU[YVSZ ^P[O YLMLYLUJL [V [OL Ă„UHUJPHS Z[H[LTLU[Z +\YPUN [OL 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 for the co-operation extended by all stakeholders including Ministry of Information & Broadcasting and other government authorities, shareholders, investors, readers, advertisers, 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.

For and on behalf of the Board

Place: New Delhi Date: May 25, 2016

Shobhana Bhartia Chairperson

21

Financial statements 50-96

Extract of Annual Return: Extract of the Annual Return of the Company (in form MGT-9) is annexed herewith as Annexure “F�.

Your Directors state that no disclosure is required in respect of the following matters as there were no transaction in relation thereto, during the year under review:

Statutory reports 10-49

Particulars of Employees and Related Disclosures: In accordance with the provisions of Section 197(12) of the Companies Act, 2013 and Rule 5(2)&(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the names and other particulars of employees are set out in the Annexure “Dâ€? 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 shareholders without this annexure. However, the same is available for inspection I` [OL TLTILYZ H[ [OL 9LNPZ[LYLK 6MĂ„JL VM [OL *VTWHU` during business hours on all working days upto the date of the ensuing AGM. Members interested in obtaining a copy of the same, may write to the Company Secretary at the 9LNPZ[LYLK 6MĂ„JL VM [OL *VTWHU`

GENERAL

Company overview 01-08

fraud by any director and/or employee of the Company or any violation of the Code of Conduct.

Board’s Report

ANNEXURE – A TO BOARD’S REPORT SECRETARIAL AUDIT REPORT For the Financial Year ended 31st March, 2016 B7\YZ\HU[ [V :LJ[PVU VM [OL *VTWHUPLZ (J[ HUK 9\SL UV VM [OL *VTWHUPLZ (WWVPU[TLU[ HUK 9LT\ULYH[PVU and Managerial Personnel) Rules, 2014]

To, The Members, HINDUSTAN MEDIA VENTURES LIMITED (CIN: L21090BR1918PLC000013) Budh Marg, P.S.-Kotwali Patna - 800001 I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by HINDUSTAN MEDIA VENTURES 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.

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

)HZLK VU T` ]LYPÄJH[PVU VM [OL IVVRZ WHWLYZ TPU\[L IVVRZ MVYTZ HUK YL[\YUZ ÄSLK HUK V[OLY YLJVYKZ THPU[HPULK by the Company and also the information provided by the *VTWHU` P[Z VMÄJLYZ HNLU[Z HUK H\[OVYPaLK YLWYLZLU[H[P]LZ during the conduct of secretarial audit, I hereby report that in my opinion, the Company has, during the audit period JV]LYPUN [OL ÄUHUJPHS `LHY LUKLK VU JVTWSPLK with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliancemechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 and (Prohibition of Insider Trading) Regulations, 2015 for the respective applicable period;

I have examined the books, papers, minute books, forms and YL[\YUZ ÄSLK HUK V[OLY YLJVYKZ THPU[HPULK I` /05+<:;(5 4,+0( =,5;<9,: 3040;,+ MVY [OL ÄUHUJPHS `LHY LUKLK VU 31.03.2016 according to the provisions of: (I)

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

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

(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009*; (d) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and Securities and Exchange Board of India (Share )HZLK ,TWSV`LL )LULÄ[Z 9LN\SH[PVUZ MVY the respective applicable period; (e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008*; (f)

(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;

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*; and (h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998*; * Not applicable because company did not carry out the activities covered by the regulations/guidelines during the audit period.

22 Hindustan Media Ventures Limited

Annual Report 2015-16

Company overview 01-08

(VI) Other laws applicable to the Company:I have examined the entire framework, processes and procedures of compliance of the under mentioned laws applicable to the Company. The reports, compliances etc. with respect to these laws have been examined by me on test check basis.

(II) The Listing Agreements entered into by the Company with NSE & BSE and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the respective applicable period.

Environment Laws The Environment (Protection) Act, 1986; Air (Prevention and Control of Pollution) Act, 1981; Water (Prevention and Control of Pollution) Act, 1974; The Hazardous Wastes (Management, Handling and Transboundary Movement) Rules, 2008; E-waste Management & Handling Rules, 2011.

Labour Laws

Industry specific laws applicable to the Company 1. 2.

The Press and Registration of Books Act, 1867 & Rules Registrar of Newspapers for India Guidelines

The 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 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 JSHYPĂ„JH[PVUZ VU [OL HNLUKH P[LTZ ILMVYL [OL TLL[PUN HUK for meaningful participation at the meeting. 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 have also examined compliance with the applicable clauses of the following: (I)

Secretarial Standards issued by The Institute of Company Secretaries of India as applicable from July 1, 2015.

Place : New Delhi Date : May 20, 2016

Sd/N C Khanna FCS No. 4268 C P No. 5143

23

Financial statements 50-96

Employees State Insurance Act, 1948; Employees Provident Fund and Miscellaneous Provisions Act, 1952; Factories Act, 1948; Minimum Wages Act, 1948; Industrial Disputes Act, 1947; Payment of Bonus Act, 1965; Payment of Gratuity Act, 1972; Employees Compensation (J[ " ;OL ;YHKL <UPVUZ (J[ " 4H[LYUP[` )LULĂ„[ Act, 1961; The Industrial Employment (Standing Order) Act, 1946; Sexual Harassment of Women at workplace (Prevention, Prohibition and Regulation) Act, 2013.

I further report that-

Statutory reports 10-49

During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above.

Board’s Report

ANNEXURE – B TO BOARD’S REPORT FORM NO. AOC -2 (Pursuant to Section 134 (3)(h) of the Companies Act, 2013 and Rule 8(2) of the Companies (Accounts) Rules, 2014) -VYT MVY KPZJSVZ\YL VM WHY[PJ\SHYZ VM JVU[YHJ[Z HYYHUNLTLU[Z LU[LYLK PU[V I` [OL JVTWHU` ^P[O YLSH[LK parties referred to in sub section (1) of Section 188 of the Companies Act, 2013 including certain arm’s length transaction under third proviso thereto 1.

Details of contracts or arrangements or transactions not at arm’s length basis- NIL

2.

Details of material contracts or arrangements or transactions at arm’s length basis-

Details of material transaction as per the ‘Policy on Materiality of and dealing with Related Party Transactions’ of the Company are as under: Sl. No. 1. 2.

3. 4.

5. 6.

Particulars Name (s) of the related party & nature of relationship Nature of contracts/ arrangements/ transaction

Details HT Media Limited, Holding Company ( “HTML”)

Acquisition of trademarks, Hindustan, Hindustan.in, Nandan, Kadambini, Hum Tum and certain other Hindi publication related trademarks along with all the rights therein (the “Hindi Business Trademarks”) from HTML Duration of the contracts/ arrangements/ One time transaction transaction Salient terms of the contracts or Acquisition of Hindi Business Trademarks of HTML alongwith arrangements or transaction including the all rights therein on arm’s length terms, at a Fair Market Value of ` 62 Crore (exclusive of statutory levies), basis the Valuation value, if any Report of an Independent Valuer. Date(s) of approval by the Board, if any May 14, 2015 Amount paid as advances, if any NIL

Note:- The above transaction is within the limits prescribed in Section 188(1) of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014.

For and on behalf of the Board

Place : New Delhi Date: : May 25, 2016

24 Hindustan Media Ventures Limited

(Shobhana Bhartia) Chairperson

Annual Report 2015-16

( IYPLM V\[SPUL VM [OL *VTWHU`ÂťZ *:9 7VSPJ` PUJS\KPUN V]LY]PL^ VM WYVQLJ[Z VY WYVNYHTZ WYVWVZLK [V IL \UKLY[HRLU HUK H YLMLYLUJL [V [OL ^LI SPUR [V [OL *:9 WVSPJ` HUK WYVQLJ[Z VY WYVNYHTZ!

Company overview 01-08

ANNEXURE – C TO BOARD’S REPORT Annual Report on Corporate Social Responsibility for FY 16

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 CSR policy is available on the Company’s website: www.hmvl.in *VTWVZP[PVU VM *:9 *VTTP[[LL œ The CSR Committee of Directors comprises Smt. Shobhana Bhartia (Chairperson), Shri Ajay Relan (Independent Director) and Shri Priyavrat Bhartia.

Statutory reports 10-49

The overview of projects or programs undertaken during the year under review, is provided in the table at item 5(c) below.

(]LYHNL UL[ WYVĂ„[Z VM [OL *VTWHU` MVY [OL SHZ[ Ă„UHUJPHS `LHYZ Âś ` 15,223 Lacs 7YLZJYPILK *:9 L_WLUKP[\YL VM HTV\U[ HZ PU P[LT HIV]L Âś ` 304 Lacs +L[HPSZ VM *:9 ZWLU[ K\YPUN [OL Ă„UHUJPHS `LHY!

Sl. *:9 7YVQLJ[ VY HJ[P]P[` No. PKLU[PĂ„LK

1

2.

“Healthy Noida� campaign Free preventive health check-up camps in Noida and Greater Noida in association with a medical partner. “Healthy Uttarakhand� campaign Free health check-up camps in various districts of Uttarakhand. Grant for purchase of a medical van.

Sector in ^OPJO [OL 7YVQLJ[ PZ covered

7YVQLJ[Z VY programs 3VJHS HYLH VY V[OLY :WLJPM` the State and KPZ[YPJ[ ^OLYL WYVQLJ[Z VY WYVNYHT ^LYL undertaken Clause (i) of Noida & Greater Schedule Noida, (U.P.) VII- Promoting (Local area) Healthcare including preventive healthcare Clause (i) of Tehri, Pauri, Schedule Uttarkashi VII- Promoting & Dehradun Healthcare (Uttarakhand) including (Local area) preventive healthcare

Amount V\[SH` (budget) WYVQLJ[ VY programs ^PZL

Amount spent VU [OL WYVQLJ[Z or programs :\I OLHKZ! (1) Direct expenditure VU WYVQLJ[Z VY programs (2) Overheads 40 40

55

55

Cumulative expenditure upto the reporting period

(` in Lacs) Amount ZWLU[! +PYLJ[ or through implementing HNLUJ`

40 Direct

55 Through Implementing Agency (Manorama Devi Birla Charitable Trust)*

25

Financial statements 50-96

H ;V[HS HTV\U[ [V IL ZWLU[ MVY [OL ÄUHUJPHS `LHYœ ` 304 Lacs b. Amount unspent – ` 4 Lacs c. Manner in which amount spent during FY 16, is detailed below:

Board’s Report

Sl. *:9 7YVQLJ[ VY HJ[P]P[` No. PKLU[PÄLK

3.

4

Adopting village(s)Catalyzing positive transformation in villages through infrastructure enhancement & education. Integrated development in Lohvan and Gossna villages which includes infrastructure and skill development. The infrastructure development was focused on providing solar lighting, school upgradation and safe drinking water. The skill development was focused on women and children Maintenance and preservation of heritage art, restoration of buildings and sites of historical importance in the city of Mumbai

Sector in ^OPJO [OL 7YVQLJ[ PZ covered

7YVQLJ[Z VY programs 3VJHS HYLH VY V[OLY :WLJPM` the State and KPZ[YPJ[ ^OLYL WYVQLJ[Z VY WYVNYHT ^LYL undertaken Clause (ii) Lohvan and and (x) of Gossna villages Schedule in Distt. Mathura VII- Promoting (U.P.) Local Area education and rural development project

Clause (v) of Schedule VII – Protection of national heritage, art and culture including restoration of buildings & sites of historical importance & works of art

Amount spent VU [OL WYVQLJ[Z or programs :\I OLHKZ! (1) Direct expenditure VU WYVQLJ[Z VY programs (2) Overheads 154 150

Amount V\[SH` (budget) WYVQLJ[ VY programs ^PZL

Mumbai, (Maharashtra) (Other areas)

Total

55

55

304

300#

Cumulative expenditure upto the reporting period

(` in Lacs) Amount ZWLU[! +PYLJ[ or through implementing HNLUJ`

150 Direct (` 61 Lacs) Through Implementing Agency (HT Foundation for Change ` 89 Lacs)*

55 Through Implementing Agency (Kala Ghoda Association)

300#

*Amount contributed to the implementation agency is being utilized by it in a phased manner. # Incudes overheads of ` 6.6 Lacs which is well within 5% of the CSR outlay for FY 16

6.

0U JHZL [OL *VTWHU` OHZ MHPSLK [V ZWLUK [OL [^V WLY JLU[ VM [OL H]LYHNL UL[ WYVÄ[ VM [OL SHZ[ `LHYZ ÄUHUJPHS `LHYZ VY HU` WHY[ [OLYLVM [OL *VTWHU` ZOHSS WYV]PKL [OL YLHZVUZ MVY UV[ ZWLUKPUN [OL HTV\U[ PU P[Z )VHYK»Z 9LWVY[ ¶ The shortfall in CSR spend of ` 4 Lacs during FY 16 relates to a small portion of cost of RO water plant in the adoption of village project, which was spent in April, 2016 (i.e. after the close of FY 16). Further, amount contributed to the implementation agencies and remaining unutilized in FY 15, has been utilized during FY 16.

7.

;OL YLZWVUZPIPSP[` Z[H[LTLU[ VM [OL *VYWVYH[L :VJPHS 9LZWVUZPIPSP[` *VTTP[[LL VM [OL )VHYK VM +PYLJ[VYZ VM [OL *VTWHU` PZ NP]LU ILSV^! The implementation and monitoring of Corporate Social Responsibility (CSR) Policy is in compliance with CSR objectives and policy of the Company.

(Vivek Khanna) *OPLM ,_LJ\[P]L 6MÄJLY

26 Hindustan Media Ventures Limited

(Shobhana Bhartia) Chairperson of CSR Committee

Annual Report 2015-16

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 PUJYLHZL 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 ¶

Name of Director/ KMP & designation

% increase in remuneration in FY 16

9H[PV VM YLT\ULYH[PVU VM each Director to median YLT\ULYH[PVU VM LTWSV`LLZ PU FY 16 @

13.00*

3.17%

3.71

11.80*

5.36%

3.37

10.60*

Nil

3.03

10.00*

(8.26%)

2.86

166.73

Not applicable

47.64

214.71

15.40%

61.35

262.61

37.92%

Not applicable

139.29

18.15%

Not applicable

59.73

30.04%

Not applicable

Shri Ashwani Windlass Non-executive Director Shri Piyush G. Mankad Non-executive Director Shri Shardul S. Shroff Non-executive Director Shri Vikram Singh Mehta Non-executive Director Shri Priyavrat Bhartia Whole-time Director# Shri Benoy Roychowdhury Whole-time Director Shri Vivek Khanna *OPLM ,_LJ\[P]L 6MÄJLY Shri Ajay Jain *OPLM -PUHUJPHS 6MÄJLY Shri Tridib Barat Company Secretary

Statutory reports 10-49

9LT\ULYH[PVU MVY FY 16 (` 3HJZ

Company overview 01-08

ANNEXURE- E TO BOARD’S REPORT

Financial statements 50-96

* ComWYPZLZ VM HUU\HS JVTTPZZPVU VU WYVÄ[Z HUK ZP[[PUN MLL MVY H[[LUKPUN )VHYK *VTTP[[LL TLL[PUNZ @The median remuneration of employees of the Company during FY 16 was ` 3.5 Lacs # Appointed as Whole-time Director w.e.f. October 1, 2015

(ii) There was an increase of 9.4% in the median remuneration of employees in FY 16. (iii) As on March 31, 2016, there were 2,309 permanent employees on the rolls of the Company. (iv) Relationship between average increase in remuneration and Company’s performance - the average increase in remuneration of the employees during FY 16 was 9% whereas the Company’s revenue grew by 12%. (v) Comparison of remuneration of Key Managerial Personnel (KMP) against the performance of the Company ;OL [V[HS 9LT\ULYH[PVU VM 247 PUJYLHZLK I` 9L]LU\L HUK 5L[ 7YVÄ[ VM [OL *VTWHU` PUJYLHZLK I` HUK YLZWLJ[P]LS` º/PUK\Z[HU» JVU[PU\LK [V NYV^ P[Z YL]LU\L ZPNUPÄJHU[S` HIV]L [OL PUK\Z[Y` NYV^[O ;OL WLYMVYTHUJL PU <7 THYRL[ ^HZ LZWLJPHSS` ZPNUPÄJHU[

27

Board’s Report

(vi) a)

Variations in the market capitalization of the Company - Market capitalization of the Company increased by 13.5% to ` 1,834 Crore as on March 31, 2016, as against from ` 1,616 Crore as on March 31, 2015.

b)

Price Earnings Ratio(x) of the Company was 10.2x as on March 31, 2016 as against 11.5x as on March 31, 2015.

c)

Percentage increase over/decrease in the market quotations of the shares of the Company as compared to the rate at which the Company came out with the last public offer - The closing price of the Company’s equity shares on the NSE as on March 31, 2016 was ` 249.85, representing a 50.5 % increase over the Issue Price in last IPO.

(vii) Average percentage increase in remuneration of employees, other than managerial personnel during FY 16 is 8.1%. During the same period, for managerial personnel the average increase is 30%. In line with the policy of reward for performance, the high performing employees were given increase upto 30% while the overall increase was 9%. (viii) Remuneration of each KMP during FY 16 is given under (i) above and the performance of the Company during [OL ZHPK Ă„UHUJPHS `LHY PZ NP]LU \UKLY ] HIV]L (ix) There are two variable components in the remuneration drawn by Shri Benoy Roychowdhury (Whole-time Director) viz. (a) Enterprise Goal Award- this was paid quarterly based on enterprise achieving the quarter targets SPURLK ^P[O YL]LU\L HUK IHSHUJL ^P[O HJOPL]LTLU[ VM WYVĂ„[" HUK I =HYPHISL 7LYMVYTHUJL )VU\Z [OPZ ^HZ SPURLK ^P[O WLYZVUHS SLHKLYZOPW WLYMVYTHUJL HUK JVU[YPI\[PVU VM [OL >OVSL [PTL +PYLJ[VY V]LY [OL Ă„UHUJPHS `LHY (x) Ratio of remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in excess of the highest paid director during the year - 0.82. _P 0[ PZ OLYLI` HMĂ„YTLK [OH[ [OL YLT\ULYH[PVU WHPK PZ HZ WLY [OL 9LT\ULYH[PVU 7VSPJ` HUK WOPSVZVWO` VM [OL *VTWHU`

28 Hindustan Media Ventures Limited

Annual Report 2015-16

EXTRACT OF ANNUAL RETURN -VY [OL ÄUHUJPHS `LHY LUKLK 4HYJO B7\YZ\HU[ [V :LJ[PVU VM [OL *VTWHUPLZ (J[ HUK 9\SL VM [OL *VTWHUPLZ 4HUHNLTLU[ HUK (KTPUPZ[YH[PVU 9\SLZ D

I.

REGISTRATION AND OTHER DETAILS Particulars *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 VMÄJL HUK JVU[HJ[ KL[HPSZ

Details L21090BR1918PLC000013 July 9, 1918 Hindustan Media Ventures Limited Public Company / Limited by Shares Budh Marg, Patna, Bihar-800001 Tel : +91-612-2223434 Fax :+91-612-2221545

vi.

Whether listed company

Yes / No

vii.

Name, Address and Contact details of Registrar and Transfer Agent, if any

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

Statutory reports 10-49

Sl. No i. ii. iii. iv. v.

Company overview 01-08

ANNEXURE - F TO BOARD’S REPORT Form No. MGT-9

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY All the business activities contributing 10% or more of the total turnover of the company shall be stated:Name and Description of main products / services

1.

Printing and Publication of Newspapers and Periodicals

NIC Code of the Product / Service

% to total turnover of [OL JVTWHU`

181 & 581*

100%

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

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

Sl. No 1.

Name And Address of the *VTWHU` HT Media Limited* Address: 18-20, Kasturba Gandhi Marg, New Delhi-110001

% of shares held 74.30

/VSKPUN :\IZPKPHY` / Associate

*05 .35 L22121DL2002PLC117874

Holding

Applicable Section 2(46)

* HT Media Limited is a subsidiary of The Hindustan Times Limited which is a subsidiary of Earthstone Holding (Two) Limited.

IV. SHAREHOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) i) Sl. No

Category-wise Share Holding *H[LNVY` 6M Shareholder

5V VM ZOHYLZ OLSK H[ [OL ILNPUUPUN VM [OL `LHY (as on 01/04/2015) Demat

7O`ZPJHS

Total

% of total shares

5V VM ZOHYLZ OLSK H[ [OL LUK VM [OL `LHY (as on 31/03/2016) Demat 7O`ZPJHS

% change during the

Total

% of total shares

`LHY

A

PROMOTERS

1

INDIAN

a)

Individual / HUF

0

0

0

0.00

0

0

0

0.00

0.00

b)

Central Government

0

0

0

0.00

0

0

0

0.00

0.00

29

Financial statements 50-96

Sl. No

Board’s Report

i) Sl. No

Category-wise Share Holding (Contd.) *H[LNVY` 6M Shareholder

c)

State Government(s)

d)

Bodies Corporate

e)

Bank/Financial Institutions

f)

Any Other Sub-Total A(I)

5V VM ZOHYLZ OLSK H[ [OL ILNPUUPUN VM [OL `LHY (as on 01/04/2015)

5V VM ZOHYLZ OLSK H[ [OL LUK VM [OL `LHY (as on 31/03/2016)

Demat

7O`ZPJHS

Total

% of total shares

0

0

0

0.00

0

5,45,33,458

0

5,45,33,458

74.30

0

0

0

0.00

Demat 7O`ZPJHS

% change during the

Total

% of total shares

`LHY

0

0

0.00

0.00

5,45,33,458

0

5,45,33,458

74.30

0.00

0

0

0

0.00

0.00

0

0

0

0.00

0

0

0

0.00

0.00

5,45,33,458

0

5,45,33,458

74.30

5,45,33,458

0

5,45,33,458

74.30

0.00

2

FOREIGN

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

c)

Bodies Corporate

0

0

0

0.00

0

0

0

0.00

0.00

d)

Banks/FI

0

0

0

0.00

0

0

0

0.00

0.00

e)

Others

0

0

0

0.00

0

0

0

0.00

0.00

Sub-Total A(2)

0

0

0

0.00

0

0

0

0.00

0.00

0

5,45,33,458

74.30

5,45,33,458

0

5,45,33,458

74.30

0.00

96,40,096

0

96,40,096

13.13

10 ,71,823

0

10 ,71,823

1.46

(11.67)

2,79,559

125

2,79,684

0.38

1,23,083

125

1,23,208

0.17

(0.21)

B

Total Shareholding 5,45,33,458 of Promoter A=A(1)+A(2) PUBLIC SHAREHOLDING

1

INSTITUTIONS

a)

Mutual Funds

b)

Banks/FI

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

32,52,068

0

32,52,068

4.43

1,18,34,530

0

1,18,34,530

16.12

11.69

0

0

0

0.00

0

0

0

0.00

0.00

h)

Foreign Venture Capital Funds

i)

Others

2

Sub-Total B(1) NON-INSTITUTIONS

a)

Bodies Corporate

b)

Individuals (i) Individuals holding nominal share capital upto ` 1 Lac (ii) Individuals holding nominal share capital in excess of ` 1 Lac

c)

0

0

0

0.00

0

0

0

0.00

0.00

1,31,71,723

125

1,31,71,848

17.94

1,30,29,436

125

1,30,29,561

17.75

(0.19)

22,02,895

900

22,03,795

3.00

18,79,039

900

18,79,939

2.56

(0.44)

18,51,027

19,773

18,70,800

2.55

23,49,372

19,773

23,69,145

3.23

0.68

9,01,414

0

9,01,414

1.23

8,80,863

0

8,80,863

1.20

(0.03)

57,563

0

57,563

0.08

38,282

0

38,282

0.05

(0.03)

1,59,897

0

1,59,897

0.21

2,20,370

0

2,20,370

0.30

0.09

Others i) Clearing Members ii) Non - resident Indians

30 Hindustan Media Ventures Limited

Annual Report 2015-16

Sl. No

Company overview 01-08

i)

Category-wise Share Holding (Contd.) *H[LNVY` 6M Shareholder

5V VM ZOHYLZ OLSK H[ [OL ILNPUUPUN VM [OL `LHY (as on 01/04/2015) Demat

iii) Trusts

Sub-Total B(2) Total Public

Total

% of total shares

Demat 7O`ZPJHS

Total

% change during the

% of total shares

`LHY

42,550

0

42,550

0.06

0

0

0

0.00

(0.06)

4,52,445

0

4,52,445

0.62

4,42,152

0

4,42,152

0.60

(0.02)

56,67,791

20,673

56,88,464

7.75

58,10,078

20,673

58,30,751

7.94

0.19

1,88,39,514

20,798

1,88,60,312

25.70

1,88,39,514

20,798

1,88,60,312

25.70

0.00

0

0

0

0.00

0

0

0

0.00

0.00

7,33,72,972

20,798

7,33,93,770

100.00

733,72,972

20,798

7,33,93,770

100.00

0.00

Shareholding B=B(1)+B(2) Shares held

Statutory reports 10-49

iv) Shri Naresh Kumar Gupta (As a trustee of HT Group Companies Employees Stock Option Trust)*

7O`ZPJHS

5V VM ZOHYLZ OLSK H[ [OL LUK VM [OL `LHY (as on 31/03/2016)

I` J\Z[VKPHUZ MVY .+9 Z HUK (+9 Z .9(5+ ;6;(3 (A+B+C)

0U [LYTZ VM :,)0 :OHYL )HZLK ,TWSV`LL )LULÄ[Z 9LN\SH[PVUZ [OL ZOHYLOVSKPUN VM :OYP 5HYLZO 2\THY .\W[H As a Trustee of HT Group *VTWHUPLZ ,TWSV`LLZ :[VJR 6W[PVU ;Y\Z[ OHZ ILLU JH[LNVYPZLK \UKLY º5VU 7YVTV[LY 5VU 7\ISPJ» JH[LNVY` PU [OL Z[VJR L_JOHUNL ÄSPUNZ /V^L]LY [V conform to the format of Form MGT-9, the same has been categorized under ‘Public’ category (Previous year categorized under ‘Promoter’ category).

Sl. No.

Shareholder’s Name

:OHYLOVSKPUN H[ [OL ILNPUUPUN VM [OL `LHY (As on 01/04/2015) No. of Shares

1

% of total Shares of the JVTWHU`

%of Shares pledged / encumbered to total shares

:OHYLOVSKPUN H[ [OL LUK VM [OL `LHY (As on 31/03/2016) No. of Shares

% of total %of Shares Shares pledged / of the encumbered to JVTWHU` total shares

% change in shareholding during the `LHY

HT Media Limited

5,45,33,458

74.30

0.00

5,45,33,458

74.30

0

0.00

Total

5,45,33,458

74.30

0.00

5,45,33,458

74.30

0

0.00

iii) Change in Promoters’ Shareholding - Nil Shareholding Pattern of top 10 Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs) Sl. No.

Name of Shareholders

Shareholding No. of Shares

1.

2.

% of total shares of [OL *VTWHU`

Cumulative Shareholding K\YPUN [OL `LHY No. of Shares % of total shares of [OL *VTWHU`

Reliance Capital Trustee Co. Ltd a/c Reliance Media and Entertainment Fund At the beginning of the year 65,35,854 Bought during the year 1,91,050 Sold during the year 59,86,900 At the end of the year 7,40,004

8.91 0.26 8.16 1.01

65,35,854 67,26,904 7,40,004 7,40,004

8.91 9.17 1.01 1.01

HDFC Trustee Company Limited - HDFC Capital Builder Fund# At the beginning of the year 31,04,242 Bought during the year 0 Sold during the year 31,04,242 At the end of the year 0

4.23 0.00 4.23 0.00

31,04,242 31,04,242 0 0

4.23 4.23 0.00 0.00

31

Financial statements 50-96

ii) Shareholding of Promoters

Board’s Report

Shareholding Pattern of top 10 Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs) (Contd.) Sl. No.

Name of Shareholders

Shareholding No. of Shares

3.

% of total shares of [OL *VTWHU`

Cumulative Shareholding K\YPUN [OL `LHY No. of Shares % of total shares of [OL *VTWHU`

Lavender Investments Limited* At the beginning of the year Bought during the year Sold during the year At the end of the year

0 30,50,000 0 30,50,000

0.00 4.16 0.00 4.16

0 30,50,000 30,50,000 30,50,000

0.00 4.16 4.16 4.16

Steinberg India Emerging Opportunities Fund Limited At the beginning of the year Bought during the year Sold during the year At the end of the year

14,00,000 2,00,000 0 16,00,000

1.91 0.27 0.00 2.18

14,00,000 16,00,000 16,00,000 16,00.000

1.91 2.18 2.18 2.18

Ocean Dial Gateway to India Mauritius Limited At the beginning of the year Bought during the year Sold during the year At the end of the year

7,50,000 4,50,000 1,11,937 10,88,063

1.02 0.61 0.15 1.48

7,50,000 12,00,000 10,88,063 10,88,063

1.02 1.64 1.48 1.48

Sentinel Financial Services Private Ltd.# At the beginning of the year Bought during the year Sold during the year At the end of the year

4,58,510 0 4,58,510 0

0.62 0.00 0.62 0.00

4,58,510 4,58,510 0 0

0.62 0.62 0.00 0.00

Mohanbari Investment Company Private Limited* At the beginning of the year Bought during the year Sold during the year At the end of the year

0 4,58,510 0 4,58,510

0.00 0.62 0.00 0.62

0 4,58,510 4,58,510 4,58,510

0.00 0.62 0.62 0.62

Banarhat Investment Company Private Limited* At the beginning of the year Bought during the year Sold during the year At the end of the year

0 4,48,541 0 4,48,541

0.00 0.61 0.00 0.61

0 4,48,541 4,48,541 4,48,541

0.00 0.61 0.61 0.61

Banarhat Investment Co. Pvt. Ltd.# At the beginning of the year Bought during the year Sold during the year At the end of the year

4,48,541 0 4,48,541 0

0.61 0.00 0.61 0.00

4,48,541 4,48,541 0 0

0.61 0.61 0.00 0.00

10. Naresh Kumar Gupta (As a Trustee of HT Group Companies Employees Stock Option Trust) At the beginning of the year 4,52,445 0.62 Bought during the year 0 0.00 Sold during the year 10,293 0.01 At the end of the year 4,42,152 0.60

4,52,445 4,52,445 4,42,152 4,42,152

0.62 0.62 0.60 0.60

11. Virginia Tech Foundation,INC. Steinberg India Asset Management,Ltd.* At the beginning of the year 0 Bought during the year 4,30,000 Sold during the year 0 At the end of the year 4,30,000

0 4,30,000 4,30,000 4,30,000

0.00 0.59 0.59 0.59

4.

5.

6.

7.

8.

9.

32 Hindustan Media Ventures Limited

0.00 0.59 0.00 0.59

Annual Report 2015-16

Sl. No.

Name of Shareholders

Shareholding No. of Shares

0.00 0.54 0.00 0.54

0 3,98,704 3,98,704 3,98,704

0.00 0.54 0.54 0.54

13. Trishul Company Pvt. Ltd.# At the beginning of the year Bought during the year Sold during the year At the end of the year

3,98,704 0 3,98,704 0

0.54 0.00 0.54 0.00

3,98,704 3,98,704 0 0

0.54 0.54 0.00 0.00

3,00,000 42,56,352 3,00,000 42,56,352

0.41 5.80 0.41 5.80

3,00,000 45,56,352 42,56,352 42,56,352

0.41 6.21 5.80 5.80

15. Life Insurance Corporation of India At the beginning of the year Bought during the year Sold during the year At the end of the year

2,75,837 0 1,64,840 1,10,997

0.38 0.00 0.22 0.15

2,75,837 2,75,837 1,10,997 1,10,997

0.38 0.38 0.15 0.15

16. ESVEE Capital At the beginning of the year Bought during the year Sold during the year At the end of the year

2,60,327 7,370 0 2,67,697

0.35 0.01 0.00 0.36

2,60,327 2,67,697 2,67,697 2,67,697

0.35 0.36 0.36 0.36

Notes: 1. Year in the above table means the period from April 1, 2015 to March 31, 2016. 2. Any member desirous of obtaining the date-wise particulars of sale/purchase by the above shareholders may write to the Company Secretary at the 9LNPZ[LYLK 6MÄJL VM [OL *VTWHU` 5V[ PU [OL SPZ[ VM ;VW ZOHYLOVSKLYZ HZ VU ;OL ZHTL OHZ ILLU YLÅLJ[LK HIV]L HZ [OL ZOHYLOVSKLY ^HZ VUL VM [OL ;VW ZOHYLOVSKLYZ as on 31-03-2016. *LHZLK [V IL PU [OL SPZ[ VM ;VW ZOHYLOVSKLYZ HZ VU ;OL ZHTL PZ YLÅLJ[LK HIV]L HZ [OL ZOHYLOVSKLY ^HZ VUL VM [OL ;VW ZOHYLOVSKLYZ as on 01-04-2015.

iv) Shareholding of Directors and Key Managerial Personnel (KMP) Sl. No.

Name of Director/KMP

Shareholding No. of Shares

1.

2.

% of total shares of [OL *VTWHU`

Cumulative Shareholding K\YPUN [OL `LHY No. of Shares % of total shares of [OL *VTWHU`

Shri Priyavrat Bhartia (Whole-time Director) At the beginning of the year Bought during the year Sold during the year At the end of the year

6,719 6,719

0.01 0.01

6,719 6,719 6,719 6,719

0.01 0.01 0.01 0.01

Shri Shamit Bhartia (Director) At the beginning of the year Bought during the year Sold during the year At the end of the year

5,017 5,017

0.01 0.01

5,017 5,017 5,017 5,017

0.01 0.01 0.01 0.01

33

Financial statements 50-96

0 3,98,704 0 3,98,704

Statutory reports 10-49

12. Banarhat Investment Company Pvt. Ltd.* At the beginning of the year Bought during the year Sold during the year At the end of the year

14. Kotak Mahindra (International) Limited At the beginning of the year Bought during the year Sold during the year At the end of the year

% of total shares of [OL *VTWHU`

Cumulative Shareholding K\YPUN [OL `LHY No. of Shares % of total shares of [OL *VTWHU`

Company overview 01-08

Shareholding Pattern of top 10 Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs) (Contd.)

Board’s Report

iv) Shareholding of Directors and Key Managerial Personnel (KMP) (Contd.) Sl. No.

Name of Director/KMP

Shareholding No. of Shares

3.

4.

:OYP (QH` 1HPU *OPLM -PUHUJPHS 6MÄJLY At the beginning of the year Bought during the year Sold during the year At the end of the year Shri Tridib Kumar Barat (Company Secretary) At the beginning of the year Bought during the year Sold during the year At the end of the year

% of total shares of [OL *VTWHU`

Cumulative Shareholding K\YPUN [OL `LHY No. of Shares % of total shares of [OL *VTWHU`

560 560

0.00 0.00

560 560 560 560

0.00 0.00 0.00 0.00

1,687 1,687

0.00 0.00

1,687 1,687 1,687 1,687

0.00 0.00 0.00 0.00

Notes: Year in the above table means the period from April 1, 2015 to March 31, 2016.

V.

INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but not due for payment (` in Lacs) :LJ\YLK 3VHUZ excluding deposits

Indebtedness at the beginning of the ÄUHUJPHS `LHY i) Principal Amount ii) Interest due but not paid iii) Interest accrued but not due Total (i)+(ii)+(iii) Changes in Indebtedness during the ÄUHUJPHS `LHY - Addition - (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 Total (i)+(ii)+(iii)

<UZLJ\YLK 3VHUZ Deposits

Total Indebtedness

1,789.01 11.16 1,800.17

8,055.64 30.79 8,086.43

-

9,844.65 41.95 9,886.60

67,336.95 (67,865.37) (528.42)

20,197.40 (12,281.16) 7,916.24

-

87,534.35 (80,146.53) 7,387.82

1,271.75 9.30 1,281.05

16,002.67 42.38 16,045.05

-

17,274.42 51.68 17,326.10

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

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL A. Remuneration to Managing Director, Whole-time Directors and/or Manager: (` in Lacs) 7HY[PJ\SHYZ VM 9LT\ULYH[PVU .YVZZ ZHSHY` (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 VM [OL 0UJVTL ;H_ Act, 1961 Stock Option (No. of options granted during the year) Sweat Equity

34 Hindustan Media Ventures Limited

:OYP 7YP`H]YH[ )OHY[PH (Whole-time Director)$

:OYP )LUV` 9V`JOV^KO\Y` (Whole-time Director)

Total

153.60

201.16

354.76

1.61

0.89

2.50

-

-

-

-

-

Annual Report 2015-16

Company overview 01-08

A. Remuneration to Managing Director, Whole-time Directors and/or Manager: (Contd.) (` in Lacs) :OYP 7YP`H]YH[ )OHY[PH (Whole-time Director)$

7HY[PJ\SHYZ VM 9LT\ULYH[PVU Commission 6[OLYZ 9L[PYLTLU[ ILULÄ[Z Total (A) Ceiling as per the Act*

:OYP )LUV` 9V`JOV^KO\Y` (Whole-time Director) 12.66 214.71

11.52 166.73

Total 24.18 381.44 2,490

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) 7HY[PJ\SHYZ VM 9LT\ULYH[PVU Independent Directors - Fee for attending board / committee meetings - Commission - Others Total Other Non-Executive Directors Total (B)

Name of Directors :OYP (QH` 9LSHU

Shri (ZO^HUP Windlass

-

Total

:OYP 7P`\ZO . Shri Shardul Mankad S. Shroff

3.00

1.80

Shri Vikram Singh Mehta

0.60

-

5.40

10.00 10.00 10.00 13.00 11.80 10.60 No remuneration was paid during FY 16

10.00 10.00

40.00 45.40

-

13.00

10.00

45.40 426.84 2,739

11.80

10.60

;V[HS 4HUHNLYPHS 9LT\ULYH[PVU ( ) Overall Ceiling as per the Act* VM 5L[ 7YVÄ[Z VM [OL *VTWHU` JHSJ\SH[LK HZ WLY :LJ[PVU VM [OL *VTWHUPLZ (J[

C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD (` in Lacs) Sl. No 1

2

3 4 5

2L` 4HUHNLYPHS 7LYZVUULS 7HY[PJ\SHYZ VM 9LT\ULYH[PVU 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 of the Income Tax Act, 1961 Stock Option (No. of options granted during the year) Sweat Equity Commission 6[OLYZ 9L[PYLTLU[ ILULÄ[Z Total

Shri Vivek Khanna (CEO)

:OYP (QH` 1HPU (CFO)

Total Shri Tridib Barat (CS)

253.16

135.24

56.27

444.67

1.31

0.32

1.33

2.96

-

-

-

-

-

-

-

-

8.14 262.61

3.73 139.29

2.13 59.73

14.00 461.63

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: Nil

35

Financial statements 50-96

-

Statutory reports 10-49

$ Appointed as WTD w.e.f. October 1, 2015

Board’s Report

ANNEXURE - G TO BOARD’S REPORT Certificate of compliance of Corporate Governance

To The Members of /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK

I have examined the compliance of conditions of Corporate Governance by Hindustan Media Ventures Limited (‘the Company’), for the year ended on 31st March, 2016, as stipulated in Clause 49 of the Listing Agreement executed by the said Company with the stock exchanges for the period from April 1, 2015 to November 30, 2015; and as prescribed in Regulations 17 to 27, 46 (2) (b) to (i) and Para C, D and E of Schedule V of Chapter IV of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 (LODR) for the period from December 1, 2015 to March 31, 2016. The compliance of conditions of Corporate Governance is the responsibility of the management. My examination was limited to procedures and implementation thereof, adopted by the Company, for ensuring the compliance of the JVUKP[PVUZ VM [OL *VYWVYH[L .V]LYUHUJL 0[ PZ ULP[OLY HU H\KP[ UVY HU L_WYLZZPVU VM VWPUPVU VU [OL ÄUHUJPHS Z[H[LTLU[Z VM the Company. 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 with the conditions of Corporate Governance as stipulated in the above mentioned Listing Agreement and disclosure requirements as per SEBI LODR 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 effectiveness with which the management has conducted the affairs of the Company.

Sd/NC Khanna Place : New Delhi Date : May 20, 2016

36 Hindustan Media Ventures Limited

Company Secretary in Practice CP No. 5143

Annual Report 2015-16

(A) Conservation of energy

(i)

:[LWZ [HRLU VY PTWHJ[ VU JVUZLY]H[PVU VM LULYN`! 4\S[PWSL LULYN` ZH]PUN PUP[PH[P]LZ HJYVZZ WYPU[ MHJ[VYPLZ YLK\JLK LSLJ[YPJP[` \UP[Z JVUZ\TW[PVU ZWLJPÄJ R^O TPSSPVU pages) by 15%, which resulted into savings of cost of ` 1.3 Crore in FY 16. Key projects were taken up for HPY JVTWYLZZVYZ LMÄJPLUJ` PTWYV]LTLU[ [YHUZMVYTLY JHWHJP[` YH[PVUHSPZH[PVU WV^LY MHJ[VY PTWYV]LTLU[ HUK LED lighting.

Company overview 01-08

ANNEXURE - H TO BOARD’S REPORT Report 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

(ii) :[LWZ [HRLU I` [OL *VTWHU` MVY \[PSPaPUN HS[LYUH[L ZV\YJLZ VM LULYN`! NIL (iii) *HWP[HS PU]LZ[TLU[ VU LULYN` JVUZLY]H[PVU LX\PWTLU[Z! NIL Statutory reports 10-49

(B) Technology absorption (i)

,MMVY[Z THKL [V^HYKZ [LJOUVSVN` HIZVYW[PVU! Ink saving software utilized to improve print quality and to reduce ink consumption.

(ii) )LULÄ[Z KLYP]LK SPRL WYVK\J[ PTWYV]LTLU[ JVZ[ YLK\J[PVU WYVK\J[ KL]LSVWTLU[ VY PTWVY[ Z\IZ[P[\[PVU! Increase in ink mileage resulted in lower ink consumption and saving of ` 4.5 Crore in FY 16.

Financial statements 50-96

(iii) 0U JHZL VM PTWVY[LK [LJOUVSVN` PTWVY[LK K\YPUN [OL SHZ[ [OYLL `LHYZ YLJRVULK MYVT [OL ILNPUUPUN VM [OL ÄUHUJPHS `LHY ! H +L[HPSZ VM [LJOUVSVN` PTWVY[LK b) Year of import J >OL[OLY [OL [LJOUVSVN` ILPUN HIZVYILK NIL K 0M UV[ M\SS` HIZVYILK HYLHZ ^OLYL HIZVYW[PVU has not taken place, and the reasons thereof (iv) ,_WLUKP[\YL PUJ\YYLK VU 9LZLHYJO HUK +L]LSVWTLU[ ! NIL

(C) Foreign exchange earnings and outgo -

-VYLPNU L_JOHUNL LHYULK PU [LYTZ VM HJ[\HS PUÃ…V^Z K\YPUN [OL `LHY! ` 50.24 Lacs

-

-VYLPNU L_JOHUNL V\[NV K\YPUN [OL `LHY PU [LYTZ VM HJ[\HS V\[Ã…V^Z! ` 13,090.53 Lacs

37

Report on Corporate Governance

REPORT ON CORPORATE GOVERNANCE

Your Company is committed to adhere to the principles of ‘Accountability’, ‘Transparency’ and ‘Trusteeship’ in all facets of its business operations. In the above endeavour, good Corporate Governance principles underlines all its dealings with the stakeholders. The Securities and Exchange Board of India (SEBI) OHZ UV[PÄLK :,)0 3PZ[PUN 6ISPNH[PVUZ HUK +PZJSVZ\YL Requirements) Regulations, 2015 (hereinafter ‘SEBI Regulations’), which came into effect from December 1, 2015. These Regulations have replaced the erstwhile listing agreement of stock exchanges.

A report on Corporate Governance in accordance with the SEBI Regulations, is outlined below.

BOARD OF DIRECTORS Composition of the Board In accordance with the requirements of SEBI Regulations, more than one-half of the Board of Directors comprises of Non-executive Directors. As on March 31, 2016, the Board comprised of nine Directors including seven Non-Executive Directors. Your Company complies with the requirement of at least one-half of the Board to comprise of Independent Directors. The Chairperson of the Board is a Non-executive Woman Director.

The Company has taken all necessary steps to implement/ comply with the new regulations on Corporate Governance. The composition of the Board of Directors as on March 31 2016, is as follows Name of the Director

Date of appointment

9LSH[PVUZOPW IL[^LLU +PYLJ[VYZ inter-se

+PYLJ[VY 0KLU[PÄJH[PVU Number (DIN)

NON- EXECUTIVE DIRECTORS Smt. Shobhana Bhartia, Chairperson

January 6, 2010

Shri Shamit Bhartia

December 19, 2011

Mother of Shri Priyavrat Bhartia and Shri Shamit Bhartia

00020648

Son of Smt. Shobhana Bhartia Brother of Shri Priyavrat Bhartia

00020623

NON-EXECUTIVE INDEPENDENT DIRECTORS Shri Ajay Relan Shri Ashwani Windlass Shri Piyush G. Mankad Shri Shardul S. Shroff Dr. Mukesh Aghi

February 22, 2010 February 22, 2010 December 19, 2011 February 22, 2010 June 21, 2015

None None None None None

January 6, 2010 August 27, 2010

None Son of Smt. Shobhana Bhartia Brother of Shri Shamit Bhartia

00002632 00042686 00005001 00009379 00292205

WHOLE-TIME DIRECTORS Shri Benoy Roychowdhury* Shri Priyavrat Bhartia#

00816822 00020603

*appointed as Whole-time Director w.e.f. February 23, 2010; # appointed as Whole-time Director w.e.f. October 01, 2015

+\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO Shri Vikram Singh Mehta and Shri Rajiv Verma resigned from the Board of Directors w.e.f. June 12, 2015 and September 11, 2015, respectively. 6\Y +PYLJ[VYZ WVZZLZZ YLX\PZP[L X\HSPÄJH[PVUZ HUK L_WLYPLUJL PU NLULYHS JVYWVYH[L THUHNLTLU[ ÄUHUJL IHURPUN LJVUVTPJZ HUK V[OLY HSSPLK ÄLSKZ ^OPJO LUHISL them to contribute effectively to the Company in their capacity as Director of the Company.

38 Hindustan Media Ventures Limited

None of the Independent Directors of the Company serve as Independent Director in more than seven listed entities, and where the Independent Director is serving as Wholetime Director in any listed Company, such Independent Director is not serving as Independent Director in more than three listed entities. Amongst Non-Executive Directors, Shri Shamit Bhartia holds 5,017 Equity Shares of the Company.

Annual Report 2015-16

Company overview 01-08

Directors’ attendance record and Directorships held +\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

Number of Directors present

Number of Independent Directors present

10 10 9 9 9

8 8 8* 6 7#

4 out of 5 3 out of 5 4 out of 5 3 out of 5 3 out of 5

*Shri Shardul S. Shroff participated in the meeting through tele-conferencing (not counted for quorum) #Dr. Mukesh Aghi participated in the meeting through tele-conferencing (not counted for quorum)

Attendance record of the Directors at the above Board Meetings and at the last Annual General Meeting (AGM); and details of other Directorships/Committee positions held by them as on March 31, 2016 in Indian public limited companies, are as follows:

Name of the Director

Board meetings Attendance at the No. of other attended during last AGM held on Directorships held FY 16 August 28, 2015 5 5 3 4 2* 5 5 3 2 3

No No No No No No No Yes

8 4 4 7 4 9 9 3

Committee position held in other companies^ Chairperson

Member1

2 3 2 -

4 7 3 1 -

Financial statements 50-96

Smt. Shobhana Bhartia Shri Ajay Relan Shri Ashwani Windlass Shri Piyush G. Mankad Shri Shardul S. Shroff Shri Priyavrat Bhartia Shri Shamit Bhartia Shri Benoy Roychowdhury Shri Vikram Singh Mehta$ Shri Rajiv Verma$ Dr. Mukesh Aghi**

Not applicable Not applicable

No No

-

-

-

^Only Audit Committee and Stakeholders’ Relationship Committee are considered 1

Does not include chairmanships

*Shri Shardul S. Shroff attended one board meeting through tele-conferencing (not counted for quorum) $

Shri Vikram Singh Mehta and Shri Rajiv Verma ceased to be Directors w.e.f. June 12, 2015 and September 11, 2015, respectively.

**Dr. Mukesh Aghi has been appointed as an Independent Director w.e.f. June 21, 2015. He attended one Board Meeting through tele-conferencing (not counted for quorum).

Information supplied to the Board

Details of remuneration paid to Directors

The Directors of the Company are provided with all the information and details required for taking informed decisions at the Board meetings and agenda papers are circulated well in advance of the meeting. In case where it is not practicable to forward the document(s) with the agenda papers, the same are circulated before the meeting/placed at the meeting.

+\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO [OL Non-executive Independent Directors were paid sitting fee @ ` 30,000/- per meeting, for attending meetings of the Board/Committee(s) thereof. The Non-Executive Independent Directors are also eligible for commission not L_JLLKPUN VM [OL UL[ WYVÄ[Z VM [OL *VTWHU` MVY [OL ÄUHUJPHS `LHY Z\IQLJ[ [V H SPTP[ VM ` 10 Lacs per Director per annum. The details of sitting fee and commission paid to Directors during FY 16 are as under –

The information provided to the Board from time to time include the items mentioned under Regulation 17(7) of SEBI Regulations.

Statutory reports 10-49

Board strength

14.05.2015 14.07.2015 26.10.2015 19.11.2015 25.01.2016

39

Report on Corporate Governance

(` in Lacs) Name of the Director Smt. Shobhana Bhartia* Shri Ajay Relan*@ Shri Ashwani Windlass Shri Piyush G. Mankad Shri Shardul S. Shroff Shri Vikram Singh Mehta# Shri Priyavrat Bhartia* Shri Shamit Bhartia* Shri Rajiv Verma* Dr. Mukesh Aghi *$

Sitting Fee Commission Nil Nil 3.00 1.80 0.60 Nil Nil Nil Nil Nil

Nil Nil 10.00 10.00 10.00 10.00 Nil Nil Nil Nil

Total Nil Nil 13.00 11.80 10.60 10.00 Nil Nil Nil Nil

* These Directors have voluntarily opted not to accept sitting fee @ Shri Ajay Relan has opted not to accept commission # Shri Vikram Singh Mehta ceased to be director w.e.f. June 12, 2015 $ Dr. Mukesh Aghi was appointed as an Independent Director w.e.f. June 21, 2015

During the year, Shri Priyavrat Bhartia was appointed as Whole-time Director w.e.f. October 1, 2015 for a period VM Ä]L `LHYZ ;OL KL[HPSZ VM YLT\ULYH[PVU WHPK [V IV[O the Whole-time Directors viz. Shri Priyavrat Bhartia and :OYP )LUV` 9V`JOV^KO\Y` K\YPUN [OL ÄUHUJPHS `LHY LUKLK on March 31, 2016, are as under: (` in Lacs) Name of the Director Shri Priyavrat Bhartia Shri Benoy Roychowdhury

:HSHY` 9L[PYLTLU[ 7LYX\PZP[LZ (SSV^HUJLZ ILULÄ[Z 153.60 201.16

1.61 0.89

11.52 12.66

Notes: (1) 9L[PYLTLU[ ILULÄ[Z PUJS\KL JVU[YPI\[PVU [V 7YV]PKLU[ -\UK (2) Shri Benoy Roychowdhury, Whole-time Director has been granted Stock Options, details whereof are as under:

/; .YV\W *VTWHUPLZ ¶ ,TWSV`LL :[VJR 6W[PVU 9\SLZ MVY 3PZ[LK *VTWHUPLZ VM H 7HYLU[ *VTWHU` Particulars

No. of Options granted* Vesting schedule No. of vested Options at the end of FY 16 Exercise Price per Option (in `) Exercise Period

September 15, 2007 3,824

Date of Grant -LIY\HY` 4, 2010 2,868

-LIY\HY` 21, 2010 42,829

Already vested in 2011 3,824 2,868 42,829 33.92

1.35

40 Hindustan Media Ventures Limited

For performance criteria please refer Annexure E to Board’s Report. During the year under review, none of the Non-executive Directors had any material pecuniary relationship or transactions vis-à -vis the Company, other than payment of sitting fee and commission as mentioned above.

BOARD COMMITTEES (Z H[ `LHY LUK [OLYL ^LYL Ä]L Z[HUKPUN JVTTP[[LLZ VM [OL Board of Directors, which were delegated requisite powers to discharge their functions. The committees of the Board are as follows (a) Audit Committee (b) Stakeholders’ Relationship Committee (c) Investment and Banking Committee (d) Corporate Social Responsibility Committee (e) Nomination and Remuneration Committee The role and composition of the committees, including the U\TILY VM TLL[PUNZ OLSK K\YPUN [OL ÄUHUJPHS `LHY LUKLK on March 31, 2016 and attendance of Directors thereat, are given hereunder.

(a) Audit Committee The Audit Committee of the Board of Directors comprises of four members, out of which, three members are Independent Directors. The terms of reference of the Audit Committee are in accordance with the Companies Act, 2013 and SEBI Regulations. The Audit Committee acts as a link between the Statutory and Internal Auditors and the Board of Directors of the Company.

19.96

Within 10 years from the date of vesting of last tranche of the Options *Each Option entitles the holder thereof to one equity share of ` 10/- each upon vesting/exercise

(3) Perquisites include car, telephone, medical reimbursements, club fee, etc., calculated as per Income Tax rules. (4) Remuneration excludes provision for leave encashment and gratuity. (5) There is no separate provision for payment of severance fees. (6) Salary & Allowances paid to Shri Benoy Roychowdhury include ` 11 Lacs as Bonus.

The role of the Committee includes oversight of *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" recommending the appointment, re-appointment,

Annual Report 2015-16

Name of the Director

Position in the Committee

Shri Ashwani Windlass Shri Ajay Relan Shri Shardul S. Shroff Shri Priyavrat Bhartia

Chairman Member Member Member

Presence of directors at the meetings 14.05.15

09.07.15

26.10.15

19.11.15

25.01.16

© © © ©

© © ©

© © © ©

© © ©

© © -

Statutory reports 10-49

Meetings +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO Ä]L TLL[PUNZ VM [OL (\KP[ *VTTP[[LL ^LYL OLSK ;OL WHY[PJ\SHYZ of composition of Audit Committee, date on which the meetings were held and attendance of Directors at the above meetings is as follows:

Company overview 01-08

remuneration and terms of appointment of auditors and approval of payment for any other services rendered by statutory 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 HU` Z\IZLX\LU[ TVKPÄJH[PVU VM HU` [YHUZHJ[PVUZ VM [OL *VTWHU` ^P[O YLSH[LK WHY[PLZ" review and monitor the auditor’s independence and performance and effectiveness of audit process; scrutiny of PU[LY JVYWVYH[L SVHUZ HUK PU]LZ[TLU[Z PM HU`" L]HS\H[PVU VM PU[LYUHS ÄUHUJPHS JVU[YVSZ HUK YPZR THUHNLTLU[ Z`Z[LT" and reviewing the functioning of the whistle blower mechanism.

*Attended the meeting through tele- conferencing (not counted for quorum)

(SS [OL TLTILYZ VM [OL (\KP[ *VTTP[[LL HYL ÄUHUJPHSS` SP[LYH[L ;OL (\KP[ *VTTP[[LL ZH[PZÄLZ [OL JYP[LYPH [OH[ two-third of its members are Independent Directors.

;OL *OPLM ,_LJ\[P]L 6MÄJLY *OPLM -PUHUJPHS 6MÄJLY Internal Auditor and the Statutory Auditors are invitees to the meetings of Audit Committee.

Meetings +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO VUL meeting of the Stakeholders’ Relationship Committee was held on August 12, 2015. The composition of Stakeholders’ Relationship Committee and attendance of Directors at the said meeting is as follows Name of the Director

Position in the Committee

Presence of Directors at the above meeting

Shri Ajay Relan Shri Rajiv Verma* Shri Benoy Roychowdhury Shri Priyavrat Bhartia#

Chairman Member Member Member

© © Not Applicable

*Shri Rajiv Verma ceased to be a Director w.e.f. September 11, 2015

The Company Secretary acts as the Secretary to the Committee.

(b) Stakeholders’ Relationship Committee The Stakeholders’ Relationship Committee of the Board of Directors comprised of three Directors. The Chairperson of the Committee is an Independent Director. The Stakeholder’s Relationship Committee has been constituted 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 Balance Sheet/ declared dividend etc.

#Shri Priyavrat Bhartia became member of the Committee w.e.f. October 26, 2015

Shri Tridib Barat, Company Secretary is the Compliance 6MÄJLY VM [OL *VTWHU` During the year ended on March 31, 2016, three investor queries/requests were received, all of which were redressed/replied to the satisfaction of the investors. There were no outstanding investor complaints as on March 31, 2016. The status on reply/redressal of investors’ complaints is reported to the Board of Directors from time to time.

41

Financial statements 50-96

The Chairman of the Audit Committee is a Non-executive Independent Director and has accounting HUK YLSH[LK ÄUHUJPHS THUHNLTLU[ L_WLY[PZL /L JV\SK UV[ attend the last Annual General Meeting of the Company held on August 28, 2015, due to bereavement in the family on the previous day.

Report on Corporate Governance

(c) Investment and Banking Committee The Investment and Banking Committee of the Board has been entrusted with functions/ powers relating to TH[[LYZ VM IHURPUN ÄUHUJL PU]LZ[TLU[Z HUK MVYL_ [YHUZHJ[PVUZ

Meetings +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO [OL 0U]LZ[TLU[ HUK )HURPUN *VTTP[[LL TL[ ZP_ [PTLZ ;OL composition of Investment and Banking Committee and attendance of the Directors at the meetings is as follows: Name of the Director

Position in the Committee

Shri Ajay Relan Shri Priyavrat Bhartia

Chairman Member

Shri Rajiv Verma& Shri Benoy Roychowdhury

Member Member

19.06.15 ©

Presence of directors at the meetings 14.07.15 05.11.15 18.11.15 30.12.15 © © ©

©

© © -

12.01.16 ©

©

© Not Applicable

-

-

©

©

©

*Shri Priyavrat Bhartia chaired the meeting. Shri Rajiv Verma ceased to be a Director w.e.f. September 11, 2015

&

Regulations which includes identifying persons who are X\HSPÄLK [V ILJVTL KPYLJ[VYZ HUK ^OV TH` IL HWWVPU[LK 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\HSPÄJH[PVUZ WVZP[P]L H[[YPI\[LZ HUK PUKLWLUKLUJL VM H director; and recommend to the Board a policy, relating to the remuneration for the directors, key managerial personnel and other employees.

(d) Corporate Social Responsibility Committee The Corporate Social Responsibility (CSR) Committee of the Board of Directors has been constituted in accordance with the requirements of Section 135 of Companies Act, 2013. The terms of reference of the CSR Committee includes formulation of CSR Policy indicating the activities to be undertaken I` [OL *VTWHU` HZ ZWLJPÄLK PU :JOLK\SL =00 VM [OL 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.

The Board of Directors have adopted the Remuneration Policy for Directors, Senior Management Personnel, including Key Managerial Personnel and other employees. The Remuneration Policy is designed to attract, motivate and retain talent by offering an appropriate remuneration package and also by way of providing a congenial & healthy work environment. The Remuneration Policy is posted on Company’s website viz. www.hmvl.in.

Meetings +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO [OL CSR Committee met two times. The composition of CSR Committee and attendance of the Directors at the meetings is as follows:

Name of the Director

Position in the Committee

Presence of directors at the meetings 26.10.15

25.01.16

Smt. Shobhana Bhartia

Chairperson

©

©

Shri Ajay Relan Shri Priyavrat Bhartia

Member Member

© ©

© ©

(e) Nomination and Remuneration Committee The Nomination and Remuneration Committee comprises of four Directors. The Chairperson of the Committee is an Independent Director. The terms of reference of the Nomination & Remuneration Committee are in accordance with the requirements of the Companies Act, 2013 and SEBI

42 Hindustan Media Ventures Limited

Meetings +\YPUN [OL ÄUHUJPHS `LHY LUKLK VU 4HYJO [^V meetings of Nomination and Remuneration Committee were held. The composition of Nomination & Remuneration Committee, date on which the meetings were held and attendance of Directors at the said meetings is as follows:

Name of the Director Shri Ashwani Windlass Smt. Shobhana Bhartia Shri Piyush G. Mankad Shri Priyavrat Bhartia

Presence of directors at Position the meetings held on in the Committee 02.06.15 16.10.15 Chairman © © Member © Member © © Member -

Annual Report 2015-16

Company overview 01-08

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, if any

(\N\Z[ H[ ! W T

September 8, 2014 August 19, 2013 at 3.00 p.m at 11.00 a.m Approval of revision of remuneration of Shri Benoy Roychowdhury, Whole-time Director Approval of payment of revised annual commission to one or more Non-executive Directors of the Company

Statutory reports 10-49

Hotel Maurya, South Gandhi Maidan, Patna-800001 Approval of payment of annual commission to the None Non-executive Directors of the Company 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 invitation to subscribe to Non-Convertible Debentures/Bonds issued on private placement basis Acquisition of ‘Hindustan’ and certain other Hindi publication related trademarks from HT Media Limited (holding company) Adoption of the ‘HT Group Companies - Employee Stock Option Rules for Listed Companies’ duly aligned with the :,)0 :OHYL )HZLK ,TWSV`LL )LULĂ„[Z 9LN\SH[PVUZ and its implementation through the Trust

During the year, no special resolution was passed through Postal Ballot. Further, at present no special resolution is proposed to be conducted through Postal Ballot.

DISCLOSURES

;OL 0UKLWLUKLU[ +PYLJ[VYZ OH]L [OL YLX\PZP[L X\HSPÄJH[PVUZ and experience which is of use to the Company and, in the opinion of the Company, enables them to contribute effectively. Terms and conditions of appointment of Independent Directors are posted on Company’s website viz. www.hmvl.in.

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

The Company has complied with some of the non-mandatory requirements of SEBI Regulations on Corporate Governance. In the spirit of good corporate governance practice, the Company sends its quarterly Ă„UHUJPHS YLZ\S[Z VU LTHPS [V [OL TLTILYZ ^OVZL LTHPS addresses are registered with the DP/Company, after they are approved by the Board and disseminated to the Z[VJR L_JOHUNLZ ;OL Ă„UHUJPHS Z[H[LTLU[Z MVY [OL Ă„UHUJPHS year ended on March 31, 2016 do not contain any audit X\HSPĂ„JH[PVU ;OL *OHPYWLYZVUÂťZ VMĂ„JL PZ ZLWHYH[L MYVT [OH[ VM [OL *OPLM ,_LJ\[P]L 6MĂ„JLY

;OL *VTWHU` OHZ WYLWHYLK [OL Ă„UHUJPHS Z[H[LTLU[Z to comply in all material respects with the Accounting :[HUKHYKZ UV[PĂ„LK \UKLY :LJ[PVU VM [OL Companies Act, 2013, read with Companies (Accounts) Rules 2014.

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 behavior, actual or suspected fraud by any director and/or employee of the Company or

The required disclosures on related parties and transactions with them, is appearing in Note no. 31 of the Financial Statements. The Company has formulated the ‘Policy on Materiality of and dealing with Related Party Transactions’, which is posted on Company’s website viz. www.hmvl.in.

43

Financial statements 50-96

+\YPUN [OL Ă„UHUJPHS `LHY LUKLK VU 4HYJO [OL *VTWHU` OHK UV TH[LYPHSS` ZPNUPĂ„JHU[ YLSH[LK WHY[` [YHUZHJ[PVUZ [OH[ TH` OH]L H WV[LU[PHS JVUĂ…PJ[ ^P[O [OL interest of the Company at large. Further, during the year, the Company acquired Hindi publication related trademarks from HT Media Limited (holding company) at a consideration of ` 62 Crore (excluding taxes and other statutory levies). The above, being a material related party transaction, was approved by the shareholders of the Company at the Annual General Meeting held on August 28, 2015.

;OL *,6 *-6 JLY[PĂ„JH[L PU [LYTZ VM 9LN\SH[PVU VM :,)0 Regulations has been placed before the Board. The Company is complying with all mandatory requirements of Corporate Governance stated under Chapter IV of SEBI Regulations.

Report on Corporate Governance

any violation of the Code of Conduct. The policy provides for adequate safeguards against victimization of Whistle Blower. The Policy is posted on the Company’s website viz. www.hmvl.in. During the year, no person was denied access to the Audit Committee.

Code of Conduct

Newsprint constitutes a major part of the raw material required by the Company for its product portfolio. The Company closely monitors and plans the newsprint requirement and follows a dynamic strategy for newsprint procurement from both, overseas and domestic markets. This is done to ensure that the Company is adequately prepared for newsprint price variance, if any and it’s availability. The trend of declining demand of newsprint in developed countries, and increasing production in India, make newsprint price less volatile than what it was few years back.

The Board Members and Senior Management Personnel are expected to adhere to the Code and have HJJVYKPUNS` HMĂ„YTLK JVTWSPHUJL VM [OL ZHTL K\YPUN FY 16. A KLJSHYH[PVU I` *OPLM ,_LJ\[P]L 6MĂ„JLY YLNHYKPUN compliance of the Code, is appearing at the end of this report as Annexure – “Aâ€?.

The Company uses foreign exchange forward and options contracts to hedge its exposure against imports and long term loans, whenever required. The Company does not have any major exposure on exports or receivables. The details of foreign exchange exposures as on March 31, 2016 are KPZJSVZLK PU 5V[L UV [V [OL Ă„UHUJPHS Z[H[LTLU[Z The Company has complied with all the mandatory YLX\PYLTLU[Z ZWLJPĂ„LK PU 9LN\SH[PVU [V HUK clauses (b) to (i) of Regulation 46 (2) of the SEBI Regulations.

Performance Evaluation Details regarding the process of formal evaluation of the performance of the Board, its Committees and [OL PUKP]PK\HS +PYLJ[VYZ MVY [OL ÄUHUJPHS `LHY LUKLK March 31, 2016 is provided in the Board’s Report.

Familiarization Program 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. Details on familiarization programme for Independent Directors is posted on the Company’s website viz. www.hmvl.in.

The Company has adopted the ‘Code of Conduct’ governing the conduct of Directors and Senior Management Personnel which is hosted on the website of the Company viz. www.hmvl.in.

Insider Trading In terms of the requirement of the applicable SEBI’s Prohibition of Insider Trading Regulations, the Company has adopted the ‘Code of Conduct to Regulate, Monitor and Report Trading by the Insiders’ (Insider Trading Code) and ‘Code for Fair Disclosure of Unpublished Price Sensitive Information’. The purpose of the Insider Trading Code is to prevent misuse of unpublished price sensitive information MVY PUKP]PK\HS ILULĂ„[ I` [OVZL ^OV OH]L HJJLZZ [V Z\JO information by virtue of their employment or association with the Company.

Means of Communication Financial results - The quarterly, half yearly and HUU\HS Ă„UHUJPHS YLZ\S[Z VM [OL *VTWHU` HYL W\ISPZOLK in ‘Hindustan’ (Hindi newspaper), ‘Hindustan Times’ (English newspaper) and ‘Mint’ (English Business UL^ZWHWLY ;OL Ă„UHUJPHS YLZ\S[Z HYL HSZV MVY^HYKLK [V the investors by e-mail, in case where e-mail address is available. Investors are encouraged to avail this service / facility by providing their e-mail Id to the Company. Company’s Website – Important shareholders’ information such as Annual Report of the Company HUK [OL Ă„UHUJPHS YLZ\S[Z HYL KPZWSH`LK VU [OL ^LIZP[L viz. www.hmvl.in. 1HĹżEKCN PGYU TGNGCUGU RTGUGPVCVKQPU GVE ĹŒ 6MĂ„JPHS news releases, shareholding pattern, press releases and presentations made to Financial Analysts etc. are also available on the Company’s website.

Meeting of Independent Directors During the year, a meeting of Independent Directors was held on February 18, 2016 without the presence of Non-Independent Directors and members of the management.

44 Hindustan Media Ventures Limited

Investor Conference Calls - Every quarter, post the HUUV\UJLTLU[ VM Ă„UHUJPHS YLZ\S[Z JVUMLYLUJL JHSSZ HYL held with institutional investors and analysts. These calls are addressed by the CEO, CFO and Chief Financial Strategist. Transcripts of the calls are also posted on the website of the Company.

Annual Report 2015-16

Designated e-mail Id – The Company has designated the e-mail address viz. hmvlinvestor@livehindustan.com, for sending investor requests/ complaints.

GENERAL SHAREHOLDER INFORMATION Forthcoming Annual General Meeting Monday, September 12, 2016 at 2:30 PM Hotel Maurya, South Gandhi Maidan Patna – 800 001, Bihar

Financial Year April 1 of each year to March 31 of next year

Registrar and Share Transfer Agent Karvy Computershare Pvt. Ltd. Karvy Selenium Tower B, Plot number 31 & 32 Financial District, Nanakramguda Serilingampally Mandal Hyderabad - 500032 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 [OL K\S` [YHUZMLYYLK ZOHYL JLY[PĂ„JH[LZ 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.

Statutory reports 10-49

Day, Date & Time Venue

Company overview 01-08

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

Financial Calendar (Tentative) Results for quarter ending June 30, 2016

First week of August, 2016

Results for quarter/ half-year First week of November, 2016 ending September 30, 2016 Mid February, 2017

Results for year ending March 31, 2017

End May, 2017

Annual General Meeting

End August, 2017

As required under Regulation 7 (3) of the SEBI Regulations, [OL *VTWHU` VI[HPUZ H JLY[PĂ„JH[L VU OHSM `LHYS` IHZPZ MYVT a Company Secretary-in-Practice, regarding share transfer MVYTHSP[PLZ ^OPJO PZ Ă„SLK ^P[O [OL :[VJR ,_JOHUNLZ

Listing of Equity Shares on Stock Exchanges and Stock Codes Book Closure The Book Closure period for the purpose of payment of KP]PKLUK MVY [OL Ă„UHUJPHS `LHY PZ MYVT 4VUKH` September 5, 2016 to Monday, September 12, 2016 (both days inclusive).

Dividend Payment Date (Tentative) The Board of Directors of the Company have recommended a dividend @ ` 1.20/- per Equity Share of ` LHJO P L ' MVY [OL Ă„UHUJPHS `LHY LUKLK VU March 31, 2016, subject to the approval of the shareholders at the ensuing Annual General Meeting. The dividend, if approved, shall be paid on or after Tuesday, September 13, 2016.

The Equity Shares of the Company are listed on the following Stock Exchanges: Name of the Stock Exchange BSE Limited (BSE) Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 National Stock Exchange of India Limited (NSE) Exchange Plaza, Plot No. C/1, G- Block,Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051

:JYPW *VTWHU` *VKL 533217

HMVL

;OL HUU\HS SPZ[PUN MLL MVY [OL Ă„UHUJPHS `LHY OHZ been paid to both BSE and NSE. The ISIN of the Equity Shares of the Company is ‘INE871K01015’.

45

Financial statements 50-96

Results for quarter ending December 31, 2016

The Board has authorized the Stakeholders’ Relationship *VTTP[[LL [V Z\I KLSLNH[L P[Z WV^LYZ [V [OL 6MÄJLYZ VM the Company for prompt redressal of investor requests/ complaints.

Report on Corporate Governance

Stock Price Data Month

BSE /4=3 High (in `) 242.00 239.80 222.00 261.00 255.00 244.00 288.80 300.00 299.00 302.00 288.70 273.00

April’15 May’15 June’15 July’15 August’15 September’15 October’15 November’15 December’15 January’16 February’16 March’ 16

3V^ (in `) 206.90 210.00 201.00 210.10 200.30 203.40 232.70 263.20 252.30 245.20 252.00 244.00

NSE SENSEX High 29,094.61 28,071.16 27,968.75 28,578.33 28,417.59 26,471.82 27,618.14 26,824.30 26,256.42 26,197.27 25,002.32 25,479.62

/4=3 High (in `) 233.40 239.70 222.00 260.00 248.90 239.60 289.00 300.00 299.00 301.90 290.00 274.00

3V^

26,897.54 26,423.99 26,307.07 27,416.39 25,298.42 24,833.54 26,168.71 25,451.42 24,867.73 23,839.76 22,494.61 23,133.18

CNX NIFTY High

3V^ (in `) 206.40 211.60 200.25 208.20 186.70 204.00 233.25 261.35 253.00 246.05 252.10 243.00

8,844.80 8,489.55 8,467.15 8,654.75 8,621.55 8,055.00 8,336.30 8,116.10 7,979.30 7,972.55 7,600.45 7,777.60

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

350

30000

300

25000

250

20000

200

15000

150 100

10000

50

5000

HMVL Share at BSE

Mar-16

Feb-16

Jan-16

Dec-15

Nov-15

Oct-15

Sep-15

Aug-15

Jul-15

Jun-15

May-15

Apr-15

0

BSE SENSEX

/4=3 :OHYL PU `)

4V]LTLU[ VM /4=3 :OHYL H[ ):, K\YPUN -@

0

BSE Sensex

HMVL Share at NSE

46 Hindustan Media Ventures Limited

CNX Nifty

Mar-16

Feb-16

*5? 5PM[`

2000

Jan-16

3000

0 Dec-15

4000

50 Nov-15

5000

100

Oct-15

6000

150

Sep-15

7000

200

Aug-15

250

Jul-15

8000

Jun-15

9000

300

May-15

350

Apr-15

/4=3 :OHYL PU `)

4V]LTLU[ VM /4=3 :OHYL H[ 5:, K\YPUN -@

3V^

8,144.75 7,997.15 7,940.30 8,315.40 7,667.25 7,539.50 7,930.65 7,714.15 7,551.05 7,241.50 6,825.80 7,035.10

Annual Report 2015-16

*H[LNVY` Promoters & Promoter Group (A) Public Shareholding (B)

% of Shareholding 74.30

Banks, Financial Institutions and Insurance Companies Foreign Institutional Investors (FIIs) Mutual Funds Non-residents Bodies Corporate Individuals Clearing Members HUF NBFC

1,23,208 1,18,34,530 10,71,823 2,20,370 18,64,499 31,62,386 38,282 87,622 15,440

0.17 16.12 1.46 0.30 2.54 4.32 0.05 0.12 0.02

Total Public Shareholding (B) 5VU 7YVTV[LY Âś5VU 7\ISPJ * Shri Naresh Gupta (As Trustee of HT Group Companies - Employee Stock Option Trust)

1,84,18,160

25.10

4,42,152

0.60

Total Shareholding (A+B+C)

7,33,93,770

100.00

Statutory reports 10-49

5V VM ,X\P[` :OHYLZ OLSK 5,45,33,458

Company overview 01-08

Category of Shareholders as on March 31, 2016 (in both physical and demat form)

Distribution of shareholding by size as on March 31, 2016 5V VM ,X\P[` Shares held

;6;(3

% of total no. of Shareholders

No. of ,X\P[` :OHYLZ OLSK

% of total no. of Shares

8,865 644 486 66 77

87.44 6.35 4.79 0.65 0.77

8,49,563 4,67,457 10,79,549 4,63,961 7,05,33,240

1.16 0.64 1.47 0.63 96.10

10,138

100.00

7,33,93,770

100.00

Dematerialization of shares and liquidity as on March 31, 2016 *H[LNVY` Shares held in Demat form Shares held in Physical form ;6;(3

No. of Shares held 7,33,72,972 20,798

% of Shareholding 99.97 0.03

7,33,93,770

100

As on March 31, 2016, there were 34 cases in respect of unclaimed refund of share application money amounting to ` 56,600 in the IPO. The list of these cases has been posted on web-site of the Company.

47

Financial statements 50-96

Upto 500 501 – 1,000 1,001 – 5,000 5,001 – 10,000 10,001 & above

No. of Shareholders

Report on Corporate Governance

Details of unclaimed shares (issued in physical form pre-IPO), lying in Demat Suspense Account No. of Shareholders

5V VM ,X\P[` Shares

208

59,307

Number of shareholders who approached the Company for transfer of shares from the unclaimed suspense account during the year

-

-

Number of shareholders to whom shares were transferred from the unclaimed suspense account during the year

-

-

208

59,307

Particulars Aggregate number of shareholders and the outstanding shares lying in the unclaimed suspense account at the beginning of the year

Aggregate number of shareholders and the outstanding shares lying in the unclaimed suspense account at the end of the year

5V[L! The aforesaid data represents unclaimed bonus shares, issued in physical form by the Company in February 2010. These shares are lying in Demat Suspense Account as per SEBI Regulations. The voting rights in respect of these shares shall remain frozen till the rightful owners claim the shares.

Number of outstanding GDRs/ADRs/Warrants or any convertible instruments No GDRs/ADRs/Warrants or any convertible instruments have been issued by the Company.

Address for correspondence Company Secretary Hindustan Media Ventures Limited Hindustan Times House (2nd Floor) 18-20, Kasturba Gandhi Marg New Delhi - 110 001 Tel: + 91 - 11 - 6656 1608 Fax: + 91 - 11 - 6656 1445 Website: www.hmvl.in

ADDITIONAL INFORMATION FOR SHAREHOLDERS (1) Payment of dividend Shareholders may kindly note the following: (a) 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 please contact the R&T Agent.

Company registration details

(b) Payment by 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.

;OL *VTWHU` PZ YLNPZ[LYLK ^P[O [OL VMÄJL VM 9LNPZ[YHY VM Companies, Bihar. The Corporate Identity Number (CIN) allotted to the Company by the Ministry of Corporate Affairs (MCA) is 3 )9 73*

The 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 held in demat form.

Compliance Officer Shri Tridib Barat, Company Secretary Tel: + 91 -11 - 6656 1608

COMPLIANCE CERTIFICATE ( JLY[PÄJH[L KH[LK 4H` VM :OYP 5 * 2OHUUH 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.

48 Hindustan Media Ventures Limited

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

Annual Report 2015-16

Address Plot No. 660/2, Shastripuram Crossing, Sikandra Artoni, Agra Mathura Road, Agra – 282007 Near JD Ayurvedic College, Village-Bhakharikhas, GT Road, Aligarh – 202001 F-1 Industrial Area, Naini, Allahabad – 211010 Plot Nos. 411, 412, 413, 424 & 425 Mathurapur, Rampur Road, Bareilly – 243001 E-3, 4 Selaqui Industrial Area, Selaqui, Dehradun – 248197 Village Bhelatand, PO-Nagnagar, PS-Barbadda, Bhela Tand Road, Dhaiya, Dhanbad – 826004 NH 33, Village Tola Kumrum, Post Kapali, Near Mango Telephone Exchange, Mango Jamshedpur – 831012 Plot No. D-9, Site – III, Panki Industrial Area, Kanpur – 208022 Pocket – 2, Vibhuti Khand, Gomti Nagar, Lucknow – 226010 Khasra No. 592/3, 0.5 KM Partapur By-pass, Opp. Kalka Dental College, Meerut – 250103 Mini Bypass, Lakri Fazalpur, Near Police Post, Moradabad – 244001 Village - Bhagautipur, Near Shiwala Chowk, Naubatpur Road Police Station - Shahpur, Danapur, Patna-801503 7, Kokar Industrial Area, PO & PS - Kokar, Ranchi – 834001 Arazi no.603/5, Mauza-Koirajpur, Pargana – Athagawa, Tehsil Pindra, Varanasi – 221105

Statutory reports 10-49

*P[` AGRA ALIGARH ALLAHABAD BAREILLY DEHRADUN DHANBAD JAMSHEDPUR KANPUR LUCKNOW MEERUT MORADABAD PATNA RANCHI VARANASI

Company overview 01-08

Plant Locations (as on March 31, 2016)

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 =P]LR 2OHUUH *OPLM ,_LJ\[P]L 6MÄJLY VM [OL *VTWHU` KV OLYLI` JVUÄYT [OH[ HSS [OL )VHYK TLTILYZ HUK :LUPVY 4HUHNLTLU[ 7LYZVUULS OH]L JVTWSPLK ^P[O [OL º*VKL VM *VUK\J[» K\YPUN [OL ÄUHUJPHS `LHY

Date : May 23, 2016 Place : New Delhi

(Vivek Khanna) *OPLM ,_LJ\[P]L 6MÄJLY

49

Financial statements 50-96

;OPZ KLJSHYH[PVU PZ IHZLK VU HUK PZ PU W\YZ\HUJL VM [OL PUKP]PK\HS HMÄYTH[PVUZ YLJLP]LK PU ^YP[PUN MYVT [OL )VHYK TLTILYZ and the Senior Management Personnel of the Company.

Financial Statements

INDEPENDENT AUDITOR’S REPORT To the Members of Hindustan Media Ventures Limited REPORT ON THE FINANCIAL STATEMENTS >L OH]L H\KP[LK [OL HJJVTWHU`PUN ÄUHUJPHS Z[H[LTLU[Z VM /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK ¸[OL *VTWHU`¹ ^OPJO JVTWYPZL [OL )HSHUJL :OLL[ HZ H[ 4HYJO [OL :[H[LTLU[ VM 7YVÄ[ HUK 3VZZ HUK *HZO -SV^ :[H[LTLU[ MVY [OL `LHY [OLU LUKLK HUK H Z\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ HUK V[OLY L_WSHUH[VY` PUMVYTH[PVU

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 ÄUHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L HUK MHPY ]PL^ VM [OL ÄUHUJPHS WVZP[PVU ÄUHUJPHS WLYMVYTHUJL HUK JHZO Ã…V^Z VM [OL *VTWHU` PU HJJVYKHUJL ^P[O HJJV\U[PUN WYPUJPWSLZ NLULYHSS` HJJLW[LK PU 0UKPH PUJS\KPUN [OL (JJV\U[PUN :[HUKHYKZ ZWLJPÄLK \UKLY :LJ[PVU VM [OL (J[ YLHK ^P[O 9\SL VM [OL *VTWHUPLZ (JJV\U[Z 9\SLZ ;OPZ YLZWVUZPIPSP[` HSZV PUJS\KLZ THPU[LUHUJL VM HKLX\H[L HJJV\U[PUN YLJVYKZ PU HJJVYKHUJL ^P[O [OL WYV]PZPVUZ VM [OL (J[ MVY ZHMLN\HYKPUN VM [OL HZZL[Z VM [OL *VTWHU` HUK MVY WYL]LU[PUN HUK KL[LJ[PUN MYH\KZ HUK V[OLY PYYLN\SHYP[PLZ" ZLSLJ[PVU HUK HWWSPJH[PVU VM HWWYVWYPH[L HJJV\U[PUN WVSPJPLZ" THRPUN Q\KNTLU[Z HUK LZ[PTH[LZ [OH[ HYL YLHZVUHISL HUK WY\KLU[" HUK [OL KLZPNU PTWSLTLU[H[PVU HUK THPU[LUHUJL VM HKLX\H[L PU[LYUHS ÄUHUJPHS JVU[YVS [OH[ ^LYL VWLYH[PUN LMMLJ[P]LS` MVY LUZ\YPUN [OL HJJ\YHJ` HUK JVTWSL[LULZZ VM [OL HJJV\U[PUN YLJVYKZ YLSL]HU[ [V [OL WYLWHYH[PVU HUK WYLZLU[H[PVU VM [OL ÄUHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L HUK MHPY ]PL^ HUK HYL MYLL MYVT TH[LYPHS TPZZ[H[LTLU[ ^OL[OLY K\L [V MYH\K VY LYYVY

(U H\KP[ PU]VS]LZ WLYMVYTPUN WYVJLK\YLZ [V VI[HPU H\KP[ L]PKLUJL HIV\[ [OL HTV\U[Z HUK KPZJSVZ\YLZ PU [OL ÄUHUJPHS Z[H[LTLU[Z ;OL WYVJLK\YLZ ZLSLJ[LK KLWLUK VU [OL H\KP[VY»Z Q\KNTLU[ PUJS\KPUN [OL HZZLZZTLU[ 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 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 ÄUHUJPHS Z[H[LTLU[Z [OH[ NP]L H [Y\L HUK MHPY ]PL^ PU VYKLY [V KLZPNU H\KP[ WYVJLK\YLZ [OH[ HYL HWWYVWYPH[L PU [OL JPYJ\TZ[HUJLZ (U H\KP[ HSZV PUJS\KLZ L]HS\H[PUN [OL HWWYVWYPH[LULZZ VM HJJV\U[PUN WVSPJPLZ \ZLK HUK [OL YLHZVUHISLULZZ VM [OL HJJV\U[PUN LZ[PTH[LZ THKL I` [OL *VTWHU`»Z +PYLJ[VYZ HZ ^LSS HZ L]HS\H[PUN [OL V]LYHSS WYLZLU[H[PVU VM [OL ÄUHUJPHS Z[H[LTLU[Z >L ILSPL]L [OH[ [OL H\KP[ L]PKLUJL ^L OH]L VI[HPULK PZ Z\MÄJPLU[ HUK HWWYVWYPH[L [V WYV]PKL H IHZPZ MVY V\Y H\KP[ VWPUPVU VU [OL ÄUHUJPHS Z[H[LTLU[Z

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REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

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50 Hindustan Media Ventures Limited

Annual Report 2015-16

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Company overview 01-08

Financial Statements

ANNEXURE 1 REFERRED TO IN PARAGRAPH ‘REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS’ OF OUR REPORT OF EVEN DATE Re: Hindustan Media Ventures Limited (‘the Company’) P

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Financial statements 50-96

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Company overview 01-08

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ANNEXURE 2 TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS OF HINDUSTAN MEDIA VENTURES LIMITED Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

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Hindustan Media Ventures Limited

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MEANING OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING ( JVTWHU`»Z PU[LYUHS ÄUHUJPHS JVU[YVS V]LY ÄUHUJPHS YLWVY[PUN PZ H WYVJLZZ KLZPNULK [V WYV]PKL YLHZVUHISL HZZ\YHUJL 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 THPU[LUHUJL VM YLJVYKZ [OH[ PU YLHZVUHISL KL[HPS HJJ\YH[LS` HUK MHPYS` YLÅLJ[ [OL [YHUZHJ[PVUZ HUK KPZWVZP[PVUZ VM [OL HZZL[Z VM [OL JVTWHU`" WYV]PKL YLHZVUHISL HZZ\YHUJL [OH[ [YHUZHJ[PVUZ HYL YLJVYKLK HZ ULJLZZHY` [V WLYTP[ WYLWHYH[PVU VM ÄUHUJPHS Z[H[LTLU[Z PU HJJVYKHUJL ^P[O NLULYHSS` HJJLW[LK HJJV\U[PUN WYPUJPWSLZ HUK [OH[ YLJLPW[Z HUK L_WLUKP[\YLZ VM [OL JVTWHU` HYL ILPUN THKL VUS` PU HJJVYKHUJL ^P[O H\[OVYPZH[PVUZ VM THUHNLTLU[ HUK KPYLJ[VYZ VM [OL JVTWHU`" 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`»Z HZZL[Z [OH[ JV\SK OH]L H TH[LYPHS LMMLJ[ VU [OL ÄUHUJPHS Z[H[LTLU[Z

Annual Report 2015-16

OPINION 0U V\Y VWPUPVU [OL *VTWHU` OHZ PU HSS TH[LYPHS YLZWLJ[Z HU HKLX\H[L 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 VWLYH[PUN LMMLJ[P]LS` HZ H[ 4HYJO

-VY : 9 )H[SPIVP *6 337 *OHY[LYLK (JJV\U[HU[Z 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , ,

Statutory reports 10-49

)LJH\ZL VM [OL PUOLYLU[ SPTP[H[PVUZ VM PU[LYUHS ÄUHUJPHS JVU[YVSZ V]LY ÄUHUJPHS YLWVY[PUN PUJS\KPUN [OL WVZZPIPSP[` VM JVSS\ZPVU VY PTWYVWLY THUHNLTLU[ V]LYYPKL VM JVU[YVSZ TH[LYPHS TPZZ[H[LTLU[Z K\L [V LYYVY VY MYH\K TH` VJJ\Y HUK 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 JOHUNLZ PU JVUKP[PVUZ VY [OH[ [OL KLNYLL VM JVTWSPHUJL ^P[O [OL WVSPJPLZ VY WYVJLK\YLZ TH` KL[LYPVYH[L

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

Company overview 01-08

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING

per Vishal Sharma 7HY[ULY 4LTILYZOPW 5\TILY! 7SHJL VM :PNUH[\YL! 5L^ +LSOP +H[L! 4H`

Financial statements 50-96

55

Financial Statements

BALANCE SHEET (Z H[ 4HYJO

7HY[PJ\SHYZ

I

EQUITY AND LIABILITIES

1

Shareholders’ funds

5V[L 5V

H :OHYL JHWP[HS I 9LZLY]LZ HUK Z\YWS\Z 2

90,860.72

73,866.07

+LMLYYLK [H_ SPHIPSP[PLZ 5L[ ;YHKL WH`HISLZ

5

824.95

592.44

36,682.68 1,28,368.35

27,683.41 1,02,141.92

83,411.24

69,787.29

44,957.11 1,28,368.35

32,354.63 1,02,141.92

Current liabilities H I J K

:OVY[ [LYT IVYYV^PUNZ ;YHKL WH`HISLZ 6[OLY J\YYLU[ SPHIPSP[PLZ :OVY[ [LYT WYV]PZPVUZ

TOTAL

II.

ASSETS

1

Non-current assets H

I J K 2

` 0U 3HJZ (Z H[ 4HYJO

Non-current liabilities H I

3

As at March 31, 2016

-P_LK HZZL[Z P ;HUNPISL HZZL[Z PP 0U[HUNPISL HZZL[Z PPP *HWP[HS ^VYR PU WYVNYLZZ P] 0U[HUNPISL HZZL[Z \UKLY KL]LSVWTLU[ 5VU J\YYLU[ PU]LZ[TLU[Z 3VUN [LYT SVHUZ HUK HK]HUJLZ 6[OLY UVU J\YYLU[ HZZL[Z

Current assets H I J K L M

*\YYLU[ PU]LZ[TLU[Z 0U]LU[VYPLZ ;YHKL YLJLP]HISLZ *HZO HUK IHUR IHSHUJLZ :OVY[ [LYT SVHUZ HUK HK]HUJLZ 6[OLY J\YYLU[ HZZL[Z

TOTAL :\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z (Z WLY V\Y YLWVY[ VM L]LU KH[L -VY HUK VU ILOHSM VM [OL )VHYK VM +PYLJ[VYZ VM /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK -VY S. R. Batliboi & Co. LLP 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , , *OHY[LYLK (JJV\U[HU[Z WLY =PZOHS :OHYTH 7HY[ULY 4LTILYZOPW 5V 7SHJL VM :PNUH[\YL! 5L^ +LSOP +H[L! 4H`

Hindustan Media Ventures Limited

;YPKPI )HYH[ *VTWHU` :LJYL[HY`

(QH` 1HPU *OPLM -PUHUJPHS 6MÄJLY

=P]LR 2OHUUH *OPLM ,_LJ\[P]L 6MÄJLY

)LUV` 9V`JOV^KO\Y` >OVSL ;PTL +PYLJ[VY

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Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

7HY[PJ\SHYZ I

II

Income H 9L]LU\L MYVT VWLYH[PVUZ I 6[OLY 0UJVTL

97,927.49

87,502.79

70,081.60 27,845.89

65,209.51 22,293.28

24,463.16 28,733.16

18,807.42 22,782.42

20,846.93

16,685.50

(2,792.24) 18,054.69

(2,599.33) 14,086.17

Total Income Expenses H *VZ[ VM YH^ TH[LYPHSZ JVUZ\TLK I 0UJYLHZL KLJYLHZL PU PU]LU[VYPLZ J ,TWSV`LL ILULÄ[ L_WLUZL K 6[OLY L_WLUZLZ

Total expenses Earnings before interest, tax, depreciation and amortisation (EBITDA) (I-II)

7YVÄ[ ILMVYL [H_ 7YVÄ[ MYVT *VU[PU\PUN VWLYH[PVUZ ILMVYL [H_ *\YYLU[ [H_ H 7LY[HPUPUN [V WYVÄ[ MVY J\YYLU[ WLYPVK I (KQ\Z[TLU[ VM [H_ YLSH[LK [V LHYSPLY WLYPVKZ +LMLYYLK [H_ JOHYNL JYLKP[ 7YVÄ[ MYVT *VU[PU\PUN VWLYH[PVUZ HM[LY [H_ 7YVÄ[ 3VZZ MYVT KPZJVU[PU\PUN VWLYH[PVUZ ILMVYL [H_ ;H_ JOHYNL JYLKP[ PUJS\KPUN KLMLYYLK [H_

7YVÄ[ 3VZZ MYVT KPZJVU[PU\PUN VWLYH[PVUZ HM[LY [H_ 7YVÄ[ MVY [OL `LHY ,HYUPUNZ WLY ZOHYL B5VTPUHS ]HS\L VM ZOHYL ` 10 each 7YL]PV\Z @LHY ` 10 each)] )HZPJ HUK KPS\[LK :\TTHY` VM ZPNUPÄJHU[ HJJV\U[PUN WVSPJPLZ

V VI

;OL HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL ÄUHUJPHS Z[H[LTLU[Z (Z WLY V\Y YLWVY[ VM L]LU KH[L -VY HUK VU ILOHSM VM [OL )VHYK VM +PYLJ[VYZ VM /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK -VY S. R. Batliboi & Co. LLP 0*(0 -PYT 9LNPZ[YH[PVU 5\TILY! , , *OHY[LYLK (JJV\U[HU[Z WLY =PZOHS :OHYTH 7HY[ULY 4LTILYZOPW 5V 7SHJL VM :PNUH[\YL! 5L^ +LSOP

;YPKPI )HYH[ *VTWHU` :LJYL[HY`

(QH` 1HPU *OPLM -PUHUJPHS 6MÄJLY

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Financial statements 50-96

5V[L 5V

+LWYLJPH[PVU HUK HTVY[PZH[PVU L_WLUZL -PUHUJL JVZ[Z IV

` 0U 3HJZ -VY [OL `LHY LUKLK 4HYJO

Statutory reports 10-49

III

For the year ended March 31, 2016

Company overview 01-08

STATEMENT OF PROFIT AND LOSS

Financial Statements

CASH FLOW STATEMENT -VY [OL `LHY LUKLK 4HYJO

7HY[PJ\SHYZ *HZO ÅV^ MYVT VWLYH[PUN HJ[P]P[PLZ 5L[ 7YVÄ[ ILMVYL [H_H[PVU 5VU JHZO HKQ\Z[TLU[ MVY YLJVUJPSPUN WYVÄ[ ILMVYL [H_ [V UL[ JHZO ÅV^Z +LWYLJPH[PVU (TVY[PaH[PVU JOHYNL 3VZZ .HPU VU KPZWVZHS VM Ä_LK HZZL[Z <UYLHSPaLK MVYLPNU L_JOHUNL SVZZ <UJSHPTLK IHSHUJLZ \UZWLU[ SPHIPSP[PLZ ^YP[[LU IHJR UL[ 0UJVTL MYVT PU]LZ[TLU[Z IHUR KLWVZP[Z HUK V[OLYZ 0U[LYLZ[ L_WLUZL 7YLTP\T VU MVY^HYK L_JOHUNL JVU[YHJ[ HTVY[PZLK 7YV]PZPVU MVY KV\I[M\S KLI[Z HUK HK]HUJLZ 6WLYH[PUN WYVÄ[ ILMVYL ^VYRPUN JHWP[HS JOHUNLZ 4V]LTLU[Z PU ^VYRPUN JHWP[HS ! 0UJYLHZL +LJYLHZL PU [YHKL YLJLP]HISLZ 0UJYLHZL +LJYLHZL PU PU]LU[VYPLZ 0UJYLHZL +LJYLHZL PU SVHUZ HK]HUJLZ HUK V[OLY J\YYLU[ HUK UVU J\YYLU[ HZZL[Z 0UJYLHZL +LJYLHZL PU [YHKL WH`HISLZ V[OLY SPHIPSP[PLZ HUK WYV]PZPVUZ *HZO NLULYH[LK MYVT VWLYH[PVUZ +PYLJ[ [H_LZ WHPK UL[ VM YLM\UKZ *HZO ÅV^ ILMVYL L_[YHVYKPUHY` P[LTZ Net cash from operating activities (A) *HZO ÅV^Z MYVT PU]LZ[PUN HJ[P]P[PLZ 7\YJOHZL VM Ä_LK HZZL[Z 7YVJLLKZ MYVT ZHSL VM Ä_LK HZZL[Z 7\YJOHZL VM PU]LZ[TLU[Z :HSL TH[\YP[` VM PU]LZ[TLU[Z 0UJVTL MYVT PU]LZ[TLU[Z IHUR KLWVZP[Z HUK V[OLYZ 0U]LZ[TLU[ PU SVUN [LYT KLWVZP[ ^P[O ZJOLK\SLK IHURZ Net cash from investing activities (B) *HZO ÅV^Z MYVT ÄUHUJPUN HJ[P]P[PLZ +P]PKLUK WHPK VU LX\P[` ZOHYLZ ;H_ VU LX\P[` KP]PKLUK WHPK 0U[LYLZ[ WHPK 7YVJLLKZ MYVT ZOVY[ [LYT IVYYV^PUNZ UL[ 5L[ JHZO MYVT ÄUHUJPUN HJ[P]P[PLZ * 5L[ 0UJYLHZL PU JHZO HUK JHZO LX\P]HSLU[Z ( ) * *HZO HUK JHZO LX\P]HSLU[Z H[ [OL ILNPUUPUN VM [OL `LHY *HZO HUK JHZO LX\P]HSLU[Z H[ [OL LUK VM [OL `LHY *VTWVULU[Z VM JHZO HUK JHZO LX\P]HSLU[Z HZ H[ LUK VM [OL `LHY *HZO HUK JOLX\LZ VU OHUK >P[O :JOLK\SLK IHURZ VU J\YYLU[ HJJV\U[Z VU \UWHPK KP]PKLUK HJJV\U[ *HZO *HZO LX\P]HSLU[Z PU *HZO -SV^ :[H[LTLU[

As at March 31, 2016

` 0U 3HJZ (Z H[ 4HYJO

24,463.64

18,807.42

22,845.59

17,227.68

16,302.22

13,750.66

(21,096.35)

(18,161.62)

5,304.24 4,472.12

5,773.63 3,962.00

4,472.12

3,962.00

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Hindustan Media Ventures Limited

;YPKPI )HYH[ *VTWHU` :LJYL[HY`

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Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

1.

CORPORATE INFORMATION

/PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK ¸/4=3¹ VY ¸[OL *VTWHU`¹ PZ H 7\ISPJ 3PTP[LK *VTWHU` YLNPZ[LYLK PU 0UKPH PUJVYWVYH[LK \UKLY [OL WYV]PZPVU VM [OL *VTWHUPLZ (J[ 0[Z ZOHYLZ HYL SPZ[LK VU )VTIH` :[VJR ,_JOHUNL ):, 5H[PVUHS :[VJR ,_JOHUNL 5:,

2.

BASIS OF PREPARATION

;OL ÄUHUJPHS Z[H[LTLU[Z VM [OL *VTWHU` OH]L ILLU WYLWHYLK PU HJJVYKHUJL ^P[O NLULYHSS` HJJLW[LK HJJV\U[PUN WYPUJPWSLZ PU 0UKPH 0UKPHU .((7 ;OL *VTWHU` OHZ WYLWHYLK [OLZL ÄUHUJPHS Z[H[LTLU[Z [V JVTWS` PU HSS TH[LYPHS HZWLJ[Z ^P[O [OL HJJV\U[PUN Z[HUKHYKZ UV[PÄLK \UKLY :LJ[PVU VM [OL *VTWHUPLZ (J[ YLHK [VNL[OLY ^P[O WHYHNYHWO VM [OL *VTWHUPLZ (JJV\U[Z 9\SLZ ;OL ÄUHUJPHS Z[H[LTLU[Z OH]L ILLU WYLWHYLK VU HU HJJY\HS IHZPZ HUK \UKLY [OL OPZ[VYPJHS JVZ[ JVU]LU[PVU

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3 LHZLOVSK PTWYV]LTLU[Z YLWYLZLU[ L_WLUZLZ PUJ\YYLK [V^HYKZ JP]PS ^VYRZ PU[LYPVY M\YUPZOPUNZ L[J VU [OL SLHZLK WYLTPZLZ H[ ]HYPV\Z SVJH[PVUZ

; OL JVTWHU` HKQ\Z[Z L_JOHUNL KPMMLYLUJLZ HYPZPUN VU [YHUZSH[PVU ZL[[SLTLU[ VM SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ WLY[HPUPUN [V [OL HJX\PZP[PVU VM H KLWYLJPHISL HZZL[ [V [OL JVZ[ VM [OL HZZL[ HUK KLWYLJPH[LZ [OL ZHTL V]LY [OL YLTHPUPUN SPML VM [OL HZZL[ 0U HJJVYKHUJL ^P[O 4*( JPYJ\SHY KH[LK (\N\Z[ L_JOHUNL KPMMLYLUJLZ HKQ\Z[LK [V [OL JVZ[ VM Ä_LK HZZL[Z HYL [V[HS KPMMLYLUJLZ HYPZPUN VU SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ WLY[HPUPUN [V [OL HJX\PZP[PVU VM H KLWYLJPHISL HZZL[ MVY [OL WLYPVK 0U V[OLY ^VYKZ [OL JVTWHU` KVLZ UV[ KPMMLYLU[PH[L IL[^LLU L_JOHUNL KPMMLYLUJLZ HYPZPUN MYVT MVYLPNU J\YYLUJ` IVYYV^PUNZ [V [OL L_[LU[ [OL` HYL YLNHYKLK HZ HU HKQ\Z[TLU[ [V [OL 0U[LYLZ[ JVZ[ HUK V[OLY L_JOHUNL KPMMLYLUJL

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2.1 Summary of Significant accounting policies

a)

b)

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Financial statements 50-96

Statutory reports 10-49

/; 4LKPH 3PTP[LK ¸/VSKPUN *VTWHU`¹ OVSKZ VM ,X\P[` :OHYL *HWP[HS VM [OL *VTWHU` ;OL *VTWHU` PZ LUNHNLK PU [OL I\ZPULZZ VM W\ISPZOPUN º/PUK\Z[HU» H /PUKP +HPS` HUK [^V TVU[OS` /PUKP THNHaPULZ º5HUKHU» HUK º2HKHTIHUP»

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Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

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Hindustan Media Ventures Limited

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Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

e)

( SLHZLK HZZL[ PZ KLWYLJPH[LK VU H Z[YHPNO[ SPUL IHZPZ V]LY [OL \ZLM\S SPML VM [OL HZZL[ /V^L]LY PM [OLYL PZ UV YLHZVUHISL JLY[HPU[` [OH[ [OL *VTWHU` ^PSS VI[HPU [OL V^ULYZOPW I` [OL LUK VM [OL SLHZL [LYT [OL JHWP[HSPaLK SLHZLK HZZL[Z HYL KLWYLJPH[LK VU H Z[YHPNO[ SPUL IHZPZ V]LY [OL ZOVY[LY VM [OL LZ[PTH[LK \ZLM\S SPML VM [OL HZZL[ VY [OL SLHZL [LYT

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g)

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Financial statements 50-96

3LHZLZ ^OLYL [OL SLZZVY LMMLJ[P]LS` YL[HPUZ Z\IZ[HU[PHSS` HSS [OL YPZRZ HUK ILULÄ[Z VM V^ULYZOPW VM [OL SLHZLK P[LT HYL JSHZZPÄLK HZ VWLYH[PUN SLHZLZ 6WLYH[PUN SLHZL WH`TLU[Z HYL YLJVNUPaLK HZ HU L_WLUZL PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ VU H Z[YHPNO[ SPUL IHZPZ V]LY [OL SLHZL [LYT

f)

Statutory reports 10-49

PUJS\KLK PU WSHU[ WYVWLY[` HUK LX\PWTLU[ 3LHZL PUJVTL VU HU VWLYH[PUN SLHZL PZ YLJVNUPaLK PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ VU H Z[YHPNO[ SPUL IHZPZ V]LY [OL SLHZL [LYT *VZ[Z PUJS\KPUN KLWYLJPH[PVU HYL YLJVNUPaLK HZ HU L_WLUZL PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ 0UP[PHS KPYLJ[ JVZ[Z Z\JO HZ SLNHS JVZ[Z IYVRLYHNL JVZ[Z L[J HYL YLJVNUPaLK PTTLKPH[LS` PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ

Leases Where the Company is the lessee PUHUJL SLHZLZ ^OPJO LMMLJ[P]LS` [YHUZMLY [V [OL *VTWHU` Z\IZ[HU[PHSS` HSS [OL YPZRZ HUK ILULÄ[Z PUJPKLU[HS [V V^ULYZOPW VM [OL SLHZLK P[LT HYL JHWP[HSPaLK H[ [OL PUJLW[PVU VM [OL SLHZL [LYT H[ [OL SV^LY VM [OL MHPY ]HS\L VM [OL SLHZLK WYVWLY[` HUK WYLZLU[ ]HS\L VM [OL TPUPT\T SLHZL WH`TLU[Z 3LHZL WH`TLU[Z HYL HWWVY[PVULK IL[^LLU [OL ÄUHUJL JOHYNLZ HUK YLK\J[PVU VM [OL SLHZL SPHIPSP[` ZV HZ [V HJOPL]L H JVUZ[HU[ YH[L VM PU[LYLZ[ VU [OL YLTHPUPUN IHSHUJL VM [OL SPHIPSP[` -PUHUJL JOHYNLZ HYL YLJVNUPaLK HZ ÄUHUJL JVZ[ PU [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ 3LHZL THUHNLTLU[ MLLZ SLNHS JOHYNLZ HUK V[OLY PUP[PHS KPYLJ[ JVZ[Z VM SLHZL HYL JHWP[HSPaLK

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

; OL *VTWHU` IHZLZ P[Z PTWHPYTLU[ JHSJ\SH[PVU VU KL[HPSLK I\KNL[Z HUK MVYLJHZ[ JHSJ\SH[PVUZ ^OPJO HYL WYLWHYLK ZLWHYH[LS` MVY LHJO VM [OL *VTWHU`»Z JHZO NLULYH[PUN \UP[Z [V ^OPJO [OL PUKP]PK\HS HZZL[Z HYL HSSVJH[LK

0 TWHPYTLU[ SVZZLZ VM JVU[PU\PUN VWLYH[PVUZ PUJS\KPUN PTWHPYTLU[ VU PU]LU[VYPLZ HYL YLJVNUPaLK PU [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

( M[LY PTWHPYTLU[ KLWYLJPH[PVU PZ WYV]PKLK VU [OL YL]PZLK JHYY`PUN HTV\U[ VM [OL HZZL[ V]LY P[Z YLTHPUPUN \ZLM\S SPML

h)

Investments 0 U]LZ[TLU[Z ^OPJO HYL YLHKPS` YLHSPaHISL HUK PU[LUKLK [V IL OLSK MVY UV[ TVYL [OHU VUL `LHY MYVT [OL KH[L VU ^OPJO Z\JO PU]LZ[TLU[Z HYL THKL HYL JSHZZPÄLK HZ J\YYLU[ PU]LZ[TLU[Z (SS V[OLY PU]LZ[TLU[Z HYL JSHZZPÄLK HZ SVUN [LYT PU]LZ[TLU[Z

6 U PUP[PHS YLJVNUP[PVU HSS PU]LZ[TLU[Z HYL TLHZ\YLK H[ JVZ[ ;OL JVZ[ JVTWYPZLZ W\YJOHZL WYPJL HUK KPYLJ[S` H[[YPI\[HISL HJX\PZP[PVU JOHYNLZ Z\JO HZ IYVRLYHNL MLLZ HUK K\[PLZ 0M HU PU]LZ[TLU[ PZ HJX\PYLK VY WHY[S` HJX\PYLK I` [OL PZZ\L VM ZOHYLZ VY V[OLY ZLJ\YP[PLZ [OL HJX\PZP[PVU JVZ[ PZ [OL MHPY ]HS\L VM [OL ZLJ\YP[PLZ PZZ\LK 0M HU PU]LZ[TLU[ PZ HJX\PYLK PU L_JOHUNL MVY HUV[OLY HZZL[ [OL HJX\PZP[PVU PZ KL[LYTPULK I` YLMLYLUJL [V [OL MHPY ]HS\L VM [OL HZZL[ NP]LU \W VY I` YLMLYLUJL [V [OL MHPY ]HS\L VM [OL PU]LZ[TLU[ HJX\PYLK ^OPJOL]LY PZ TVYL JSLHYS` L]PKLU[ * \YYLU[ PU]LZ[TLU[Z HYL JHYYPLK PU [OL ÄUHUJPHS Z[H[LTLU[Z H[ SV^LY VM JVZ[ HUK MHPY ]HS\L KL[LYTPULK VU HU PUKP]PK\HS PU]LZ[TLU[ IHZPZ 3VUN [LYT PU]LZ[TLU[Z HYL JHYYPLK H[ JVZ[ /V^L]LY WYV]PZPVU MVY KPTPU\[PVU PU ]HS\L PZ THKL [V YLJVNUPaL H KLJSPUL V[OLY [OHU [LTWVYHY` PU [OL ]HS\L VM [OL PU]LZ[TLU[Z 6 U KPZWVZHS VM HU PU]LZ[TLU[ [OL KPMMLYLUJL IL[^LLU P[Z JHYY`PUN HTV\U[ HUK UL[ KPZWVZHS WYVJLLKZ PZ JOHYNLK VY JYLKP[LK [V [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

Hindustan Media Ventures Limited

i)

Inventories 0U]LU[VYPLZ HYL ]HS\LK HZ MVSSV^Z! 9H^ TH[LYPHSZ JVTWVULU[Z Z[VYLZ HUK ZWHYLZ

>VYR PU WYVNYLZZ HUK -PUPZOLK .VVKZ

:JYHW HUK >HZ[L WHWLYZ

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5 L[ YLHSPaHISL ]HS\L PZ [OL LZ[PTH[LK ZLSSPUN WYPJL PU [OL VYKPUHY` JV\YZL VM I\ZPULZZ SLZZ LZ[PTH[LK JVZ[Z VM JVTWSL[PVU HUK LZ[PTH[LK JVZ[Z ULJLZZHY` [V THRL [OL ZHSL

j)

Revenue recognition 9 L]LU\L PZ YLJVNUPaLK [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 ;OL MVSSV^PUN ZWLJPÄJ YLJVNUP[PVU JYP[LYPH T\Z[ HSZV IL TL[ ILMVYL YL]LU\L PZ YLJVNUPaLK!

Advertisements 9 L]LU\L PZ YLJVNUPaLK HZ HUK ^OLU HK]LY[PZLTLU[ PZ W\ISPZOLK KPZWSH`LK HUK PZ KPZJSVZLK UL[ VM KPZJV\U[Z Sale of News & Publications, Waste Paper and Scrap 9 L]LU\L PZ YLJVNUPaLK ^OLU [OL ZPNUPÄJHU[ YPZRZ HUK YL^HYKZ VM V^ULYZOPW OH]L WHZZLK VU [V [OL I\`LY HUK PZ KPZJSVZLK UL[ VM ZHSLZ YL[\YU HUK KPZJV\U[Z Printing Job Work 9 L]LU\L MYVT WYPU[PUN QVI ^VYR PZ YLJVNUPaLK VU [OL JVTWSL[PVU VM QVI ^VYR HZ WLY [LYTZ VM [OL HNYLLTLU[ Interest/ Income from investments 9 L]LU\L PZ YLJVNUPaLK VU H [PTL WYVWVY[PVU IHZPZ [HRPUN PU[V HJJV\U[ [OL HTV\U[ V\[Z[HUKPUN HUK [OL YH[L HWWSPJHISL 0UJVTL VU PU]LZ[TLU[Z THKL PU [OL \UP[Z VM T\[\HS M\UKZ PZ YLJVNUPaLK IHZLK VU [OL `PLSK LHYULK HUK [V [OL L_[LU[ VM P[Z

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

V]LY [OL YLTHPUPUN SPML VM [OL JVUJLYULK TVUL[HY` P[LT

YLHZVUHISL JLY[HPU[` 0U[LYLZ[ 0UJVTL PZ PUJS\KLK \UKLY [OL OLHK ¸6[OLY 0UJVTL¹ PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ Commission Income *VTTPZZPVU PUJVTL MYVT ZV\YJPUN VM HK]LY[PZLTLU[ VYKLYZ VU ILOHSM VM V[OLY LU[P[PLZ» W\ISPJH[PVUZ PZ YLJVNUPaLK VU WYPU[PUN VM [OL HK]LY[PZLTLU[ PU [OVZL W\ISPJH[PVUZ

VY [OL W\YWVZL VM HUK HIV]L [OL JVTWHU` [YLH[Z H MVYLPNU TVUL[HY` P[LT HZ ¸SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LT¹ PM P[ OHZ H [LYT VM TVU[OZ VY TVYL H[ [OL KH[L VM P[Z VYPNPUH[PVU 0U HJJVYKHUJL ^P[O 4*( JPYJ\SHY KH[LK (\N\Z[ L_JOHUNL KPMMLYLUJLZ MVY [OPZ W\YWVZL HYL [V[HS KPMMLYLUJLZ HYPZPUN VU SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ MVY [OL WLYPVK 0U V[OLY ^VYKZ [OL JVTWHU` KVLZ UV[ KPMMLYLU[PH[L IL[^LLU L_JOHUNL KPMMLYLUJLZ HYPZPUN MYVT MVYLPNU J\YYLUJ` IVYYV^PUNZ [V [OL L_[LU[ [OL` HYL YLNHYKLK HZ HU HKQ\Z[TLU[ [V [OL PU[LYLZ[ JVZ[ HUK V[OLY L_JOHUNL KPMMLYLUJL

Dividend Income +P]PKLUK PUJVTL PZ YLJVNUPaLK ^OLU [OL *VTWHU`»Z YPNO[ [V YLJLP]L [OL KP]PKLUK PZ LZ[HISPZOLK I` [OL YLWVY[PUN KH[L k)

Foreign currency translation (i) Initial Recognition -VYLPNU J\YYLUJ` [YHUZHJ[PVUZ HYL YLJVYKLK PU [OL YLWVY[PUN J\YYLUJ` I` HWWS`PUN [V [OL MVYLPNU J\YYLUJ` HTV\U[ [OL L_JOHUNL YH[L IL[^LLU [OL YLWVY[PUN J\YYLUJ` HUK [OL MVYLPNU J\YYLUJ` WYL]HPSPUN H[ [OL KH[L VM [OL [YHUZHJ[PVU

N

(iii) Exchange Differences ;OL *VTWHU` HJJV\U[Z MVY L_JOHUNL KPMMLYLUJLZ HYPZPUN VU [YHUZSH[PVU ZL[[SLTLU[ VM MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ HZ ILSV^!

,_JOHUNL KPMMLYLUJLZ HYPZPUN VU SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ YLSH[LK [V HJX\PZP[PVU VM H Ä_LK HZZL[ HYL JHWP[HSPaLK HUK KLWYLJPH[LK V]LY [OL YLTHPUPUN \ZLM\S SPML VM [OL HZZL[ ,_JOHUNL KPMMLYLUJLZ HYPZPUN VU V[OLY SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ HYL HJJ\T\SH[LK PU [OL ¸-VYLPNU *\YYLUJ` 4VUL[HY` 0[LT ;YHUZSH[PVU +PMMLYLUJL (JJV\U[¹ HUK HTVY[PaLK

(iv) Forward exchange contracts entered into to hedge foreign currency risk of an existing asset/ liability ; OL WYLTP\T VY KPZJV\U[ HYPZPUN H[ [OL PUJLW[PVU VM MVY^HYK L_JOHUNL JVU[YHJ[ PZ HTVY[PaLK HUK YLJVNUPaLK HZ HU L_WLUZL PUJVTL V]LY [OL SPML VM [OL JVU[YHJ[ ,_JOHUNL KPMMLYLUJLZ VU Z\JO JVU[YHJ[Z L_JLW[ [OL JVU[YHJ[Z ^OPJO HYL SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ HYL YLJVNUPaLK PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ PU [OL WLYPVK PU ^OPJO [OL L_JOHUNL YH[LZ JOHUNL (U` WYVÄ[ VY SVZZ HYPZPUN VU JHUJLSSH[PVU VY YLUL^HS VM Z\JO MVY^HYK L_JOHUNL JVU[YHJ[ PZ HSZV YLJVNUPaLK HZ PUJVTL VY HZ L_WLUZL MVY [OL WLYPVK (U` NHPU SVZZ HYPZPUN VU MVY^HYK JVU[YHJ[Z ^OPJO HYL SVUN [LYT MVYLPNU J\YYLUJ` TVUL[HY` P[LTZ PZ YLJVNUPaLK PU HJJVYKHUJL ^P[O WHYHNYHWO PPP HUK PPP 4 GVKTGOGPV CPF QVJGT GORNQ[GG DGPGſVU P 9L[PYLTLU[ ILULÄ[Z PU [OL MVYT VM 7YV]PKLU[ -\UK HUK 7LUZPVU :JOLTLZ HYL KLÄULK JVU[YPI\[PVU ZJOLTLZ HUK [OL JVU[YPI\[PVUZ HYL JOHYNLK [V [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ MVY [OL `LHY ^OLU HU LTWSV`LL YLUKLYZ [OL YLSH[LK ZLY]PJL ;OLYL HYL UV V[OLY VISPNH[PVUZ V[OLY [OHU [OL JVU[YPI\[PVU WH`HISL [V [OL YLZWLJ[P]L M\UKZ 0M [OL

Financial statements 50-96

(ii) Conversion VYLPNU J\YYLUJ` TVUL[HY` P[LTZ HYL YL[YHUZSH[LK \ZPUN [OL L_JOHUNL YH[L WYL]HPSPUN H[ [OL YLWVY[PUN KH[L 5VU TVUL[HY` P[LTZ ^OPJO HYL JHYYPLK PU [LYTZ VM OPZ[VYPJHS JVZ[ KLUVTPUH[LK PU H MVYLPNU J\YYLUJ` HYL YLWVY[LK \ZPUN [OL L_JOHUNL YH[L H[ [OL KH[L VM [OL [YHUZHJ[PVU 5VU TVUL[HY` P[LTZ ^OPJO HYL JHYYPLK H[ MHPY ]HS\L VY V[OLY ZPTPSHY ]HS\H[PVU KLUVTPUH[LK PU H MVYLPNU J\YYLUJ` HYL YLWVY[LK \ZPUN [OL L_JOHUNL YH[LZ [OH[ L_PZ[LK ^OLU [OL ]HS\LZ ^LYL KL[LYTPULK

(SS V[OLY L_JOHUNL KPMMLYLUJLZ HYL YLJVNUPaLK HZ PUJVTL VY HZ L_WLUZLZ PU [OL WLYPVK PU ^OPJO [OL` HYPZL

Statutory reports 10-49

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

JVU[YPI\[PVU WH`HISL [V [OL ZJOLTL MVY ZLY]PJL YLJLP]LK ILMVYL [OL IHSHUJL ZOLL[ KH[L L_JLLKZ [OL JVU[YPI\[PVU HSYLHK` WHPK [OL KLÄJP[ WH`HISL [V [OL ZJOLTL PZ YLJVNUPaLK HZ H SPHIPSP[` HM[LY KLK\J[PUN [OL JVU[YPI\[PVU H S YLHK` WHPK 0M [OL JVU[YPI\[PVU HSYLHK` WHPK L_JLLKZ [OL JVU[YPI\[PVU K\L MVY ZLY]PJLZ YLJLP]LK ILMVYL [OL IHSHUJL ZOLL[ KH[L [OLU L_JLZZ PZ YLJVNUPaLK HZ HU HZZL[ [V [OL L_[LU[ [OH[ [OL WYLWH`TLU[ ^PSS SLHK [V MVY L_HTWSL H YLK\J[PVU PU M\[\YL WH`TLU[ VY H JHZO YLM\UK

m)

PP

.YH[\P[` PZ H KLÄULK ILULÄ[ WSHU ;OL JVZ[ VM WYV]PKPUN ILULÄ[Z \UKLY [OL WSHU PZ KL[LYTPULK VU [OL IHZPZ VM HJ[\HYPHS ]HS\H[PVU H[ LHJO `LHY LUK \ZPUN [OL WYVQLJ[LK \UP[ JYLKP[ TL[OVK HUK PZ JVU[YPI\[LK [V .YH[\P[` -\UK JYLH[LK I` [OL *VTWHU` (J[\HYPHS NHPUZ HUK SVZZLZ HYL YLJVNUPaLK PU M\SS PU [OL WLYPVK PU ^OPJO [OL` VJJ\Y PU [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

PPP (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` TLHZ\YLZ [OL L_WLJ[LK JVZ[ VM Z\JO HIZLUJLZ HZ [OL HKKP[PVUHS HTV\U[ [OH[ P[ L_WLJ[Z [V WH` HZ H YLZ\S[ VM [OL \U\ZLK LU[P[SLTLU[ [OH[ OHZ HJJ\T\SH[LK H[ [OL YLWVY[PUN KH[L ; 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[ W\YWVZLZ :\JO SVUN [LYT JVTWLUZH[LK HIZLUJLZ HYL WYV]PKLK MVY IHZLK VU [OL HJ[\HYPHS ]HS\H[PVU \ZPUN [OL WYVQLJ[LK \UP[ JYLKP[ TL[OVK H[ [OL `LHY LUK (J[\HYPHS NHPUZ SVZZLZ HYL PTTLKPH[LS` [HRLU [V [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ HUK HYL UV[ KLMLYYLK ;OL *VTWHU` WYLZLU[Z [OL LU[PYL SLH]L HZ J\YYLU[ SPHIPSP[` PU [OL IHSHUJL ZOLL[ ZPUJL P[ KVLZ UV[ OH]L HU \UJVUKP[PVUHS YPNO[ [V KLMLY P[Z ZL[[SLTLU[ MVY TVU[OZ HM[LY [OL YLWVY[PUN KH[L Provisions ( WYV]PZPVU PZ YLJVNUPaLK ^OLU [OL *VTWHU` OHZ H WYLZLU[ VISPNH[PVU HZ H YLZ\S[ VM WHZ[ L]LU[ HUK 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 HUK H YLSPHISL LZ[PTH[L JHU IL THKL VM [OL HTV\U[ VM [OL VISPNH[PVU 7YV]PZPVUZ

Hindustan Media Ventures Limited

HYL UV[ KPZJV\U[LK [V [OLPY WYLZLU[ ]HS\L HUK HYL KL[LYTPULK IHZLK VU ILZ[ LZ[PTH[L YLX\PYLK [V ZL[[SL [OL VISPNH[PVU H[ [OL YLWVY[PUN KH[L ;OLZL HYL YL]PL^LK H[ LHJO YLWVY[PUN KH[L HUK HYL HKQ\Z[LK [V YLÃ…LJ[ [OL J\YYLU[ ILZ[ LZ[PTH[LZ

n)

Income Taxes ; H_ L_WLUZL JVTWYPZLZ J\YYLU[ HUK KLMLYYLK [H_ *\YYLU[ PUJVTL [H_ PZ TLHZ\YLK H[ [OL HTV\U[ L_WLJ[LK [V IL WHPK [V [OL [H_ H\[OVYP[PLZ PU HJJVYKHUJL ^P[O [OL 0UJVTL [H_ (J[ LUHJ[LK PU 0UKPH HUK [H_ SH^Z WYL]HPSPUN PU [OL YLZWLJ[P]L [H_ Q\YPZKPJ[PVUZ ^OLYL [OL JVTWHU` VWLYH[LZ ;OL [H_ YH[LZ HUK [OL [H_ SH^Z \ZLK [V JVTW\[L [OL HTV\U[ HYL [OVZL [OH[ HYL LUHJ[LK VY Z\IZ[HU[P]LS` LUHJ[LK H[ [OL YLWVY[PUN KH[L

+ LMLYYLK 0UJVTL [H_LZ YLÃ…LJ[Z [OL PTWHJ[ VM [PTPUN KPMMLYLUJLZ IL[^LLU [H_HISL PUJVTL HUK HJJV\U[PUN PUJVTL VYPNPUH[PUN K\YPUN [OL J\YYLU[ `LHY HUK YL]LYZHS VM [PTPUN KPMMLYLUJLZ MVY [OL LHYSPLY `LHYZ +LMLYYLK [H_ PZ TLHZ\YLK \ZPUN [OL [H_ YH[LZ HUK [OL [H_ SH^Z LUHJ[LK VY Z\IZ[HU[P]LS` LUHJ[LK H[ [OL YLWVY[PUN KH[L

+ LMLYYLK [H_ SPHIPSP[PLZ HYL YLJVNUPaLK MVY HSS [H_HISL [PTPUN KPMMLYLUJLZ +LMLYYLK [H_ HZZL[Z HYL YLJVNUPaLK MVY KLK\J[PISL [PTPUN KPMMLYLUJLZ VUS` [V [OL L_[LU[ [OH[ [OLYL PZ YLHZVUHISL JLY[HPU[` [OH[ Z\MÄJPLU[ M\[\YL [H_HISL PUJVTL ^PSS IL H]HPSHISL HNHPUZ[ ^OPJO Z\JO KLMLYYLK [H_ HZZL[Z JHU IL YLHSPaLK 0U ZP[\H[PVUZ ^OLYL [OL *VTWHU` OHZ \UHIZVYILK KLWYLJPH[PVU VY JHYY` MVY^HYK [H_ SVZZLZ HSS KLMLYYLK [H_ HZZL[Z HYL YLJVNUPaLK VUS` PM [OLYL PZ ]PY[\HS JLY[HPU[` Z\WWVY[LK I` JVU]PUJPUN L]PKLUJL [OH[ [OL` JHU IL YLHSPaLK HNHPUZ[ M\[\YL [H_HISL WYVÄ[Z

0 U [OL ZP[\H[PVUZ ^OLYL [OL JVTWHU` PZ LU[P[SLK [V H [H_ OVSPKH` \UKLY [OL 0UJVTL [H_ (J[ LUHJ[LK PU 0UKPH VY [H_ SH^Z WYL]HPSPUN PU [OL YLZWLJ[P]L [H_ Q\YPZKPJ[PVUZ ^OLYL P[ VWLYH[LZ UV KLMLYYLK [H_ HZZL[ VY SPHIPSP[` PZ YLJVNUPaLK PU YLZWLJ[ VM [PTPUN KPMMLYLUJLZ ^OPJO YL]LYZL K\YPUN [OL [H_ OVSPKH` WLYPVK [V [OL L_[LU[ [OL JVTWHU`»Z NYVZZ [V[HS PUJVTL PZ Z\IQLJ[ [V [OL KLK\J[PVU K\YPUN [OL [H_ OVSPKH` WLYPVK +LMLYYLK [H_ PU YLZWLJ[ VM [PTPUN KPMMLYLUJLZ ^OPJO YL]LYZL HM[LY [OL [H_ OVSPKH` WLYPVK PZ YLJVNUPaLK PU [OL `LHY PU ^OPJO [OL [PTPUN KPMMLYLUJLZ VYPNPUH[L /V^L]LY [OL JVTWHU` YLZ[YPJ[Z YLJVNUP[PVU VM KLMLYYLK [H_ HZZL[Z [V [OL L_[LU[ [OH[ P[ OHZ ILJVTL YLHZVUHIS` JLY[HPU VY ]PY[\HSS` JLY[HPU

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

HZ [OL JHZL TH` IL [OH[ Z\MÄJPLU[ M\[\YL [H_HISL PUJVTL ^PSS IL H]HPSHISL HNHPUZ[ ^OPJO Z\JO KLMLYYLK [H_ HZZL[Z JHU IL YLHSPaLK -VY YLJVNUP[PVU VM KLMLYYLK [H_LZ [OL [PTPUN KPMMLYLUJLZ ^OPJO VYPNPUH[L ÄYZ[ HYL JVUZPKLYLK [V YL]LYZL ÄYZ[

LHZ\YLTLU[ HUK KPZJSVZ\YL VM [OL LTWSV`LL ZOHYL 4 IHZLK WH`TLU[ WSHUZ PZ KVUL PU HJJVYKHUJL ^P[O [OL :LJ\YP[PLZ HUK ,_JOHUNL )VHYK VM 0UKPH :OHYL )HZLK ,TWSV`LL )LULÄ[Z 9LN\SH[PVUZ and [OL .\PKHUJL 5V[L VU (JJV\U[PUN MVY ,TWSV`LL :OHYL IHZLK 7H`TLU[Z PZZ\LK I` [OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH ;OL *VTWHU` TLHZ\YLZ JVTWLUZH[PVU JVZ[ YLSH[PUN [V LTWSV`LL Z[VJR VW[PVUZ \ZPUN [OL PU[YPUZPJ ]HS\L TL[OVK ;OL J\T\SH[P]L L_WLUZL YLJVNUPaLK MVY LX\P[` ZL[[SLK [YHUZHJ[PVUZ H[ LHJO YLWVY[PUN KH[L \U[PS [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 [OH[ ^PSS \S[PTH[LS` ]LZ[ ;OL L_WLUZL VY JYLKP[ YLJVNUPaLK PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ MVY H WLYPVK YLWYLZLU[Z [OL TV]LTLU[ PU J\T\SH[P]L L_WLUZL YLJVNUPaLK HZ H[ [OL ILNPUUPUN HUK LUK VM [OH[ WLYPVK HUK PZ YLJVNUPaLK PU LTWSV`LL ILULÄ[ ZJOLTL *VTWLUZH[PVU JVZ[ PZ HTVY[PaLK V]LY [OL ]LZ[PUN WLYPVK VM [OL VW[PVU VU H Z[YHPNO[ SPUL IHZPZ

; OL JHYY`PUN HTV\U[ VM KLMLYYLK [H_ HZZL[Z HYL YL]PL^LK H[ LHJO IHSHUJL ZOLL[ KH[L ;OL *VTWHU` ^YP[LZ KV^U [OL JHYY`PUN HTV\U[ VM H KLMLYYLK [H_ HZZL[ [V [OL L_[LU[ [OH[ P[ PZ UV SVUNLY YLHZVUHIS` JLY[HPU VY ]PY[\HSS` JLY[HPU HZ [OL JHZL TH` IL [OH[ Z\MÄJPLU[ M\[\YL [H_HISL PUJVTL ^PSS IL H]HPSHISL HNHPUZ[ ^OPJO KLMLYYLK [H_ HZZL[ JHU IL YLHSPaLK (U` Z\JO ^YP[L KV^U PZ YL]LYZLK [V [OL L_[LU[ [OH[ P[ ILJVTLZ YLHZVUHIS` JLY[HPU VY ]PY[\HSS` JLY[HPU HZ [OL JHZL TH` IL [OH[ Z\MÄJPLU[ M\[\YL [H_HISL PUJVTL ^PSS IL H]HPSHISL

+ LMLYYLK [H_ HZZL[Z HUK KLMLYYLK [H_ SPHIPSP[PLZ HYL VMMZL[ PM H SLNHSS` LUMVYJLHISL YPNO[ L_PZ[Z [V ZL[ VMM J\YYLU[ [H_ HZZL[Z HNHPUZ[ J\YYLU[ [H_ SPHIPSP[PLZ HUK [OL KLMLYYLK [H_ HZZL[Z HUK KLMLYYLK [H_ SPHIPSP[PLZ YLSH[L [V [OL ZHTL [H_HISL LU[P[` HUK ZHTL [H_H[PVU H\[OVYP[`

o)

Earnings Per Share ) HZPJ LHYUPUNZ WLY ZOHYL HYL JHSJ\SH[LK I` KP]PKPUN [OL UL[ WYVÄ[ VY SVZZ MVY [OL YLWVY[PUN WLYPVK H[[YPI\[HISL [V LX\P[` ZOHYLOVSKLYZ HM[LY KLK\J[PUN H[[YPI\[HISL [H_LZ I` [OL ^LPNO[LK H]LYHNL U\TILY VM LX\P[` ZOHYLZ V\[Z[HUKPUN K\YPUN [OL YLWVY[PUN WLYPVK ;OL ^LPNO[LK H]LYHNL U\TILYZ VM LX\P[` ZOHYLZ V\[Z[HUKPUN K\YPUN [OL YLWVY[PUN WLYPVK HYL HKQ\Z[LK MVY L]LU[Z VM IVU\Z PZZ\L IVU\Z LSLTLU[ PU H YPNO[Z PZZ\L [V L_PZ[PUN ZOHYLOVSKLYZ ZOHYL ZWSP[ HUK YL]LYZL ZOHYL ZWSP[ JVUZVSPKH[PVU VM ZOHYLZ [OH[ OH]L JOHUNLK [OL U\TILY VM LX\P[` ZOHYLZ V\[Z[HUKPUN ^P[OV\[ H JVYYLZWVUKPUN JOHUNL PU YLZV\YJLZ

q)

Cash and Cash equivalents * HZO HUK *HZO LX\P]HSLU[Z MVY [OL W\YWVZLZ VM JHZO Ã…V^ Z[H[LTLU[ JVTWYPZL JHZO PU OHUK HUK H[ IHUR JOLX\LZ PU OHUK HUK ZOVY[ [LYT PU]LZ[TLU[Z ^P[O HU VYPNPUHS TH[\YP[` VM [OYLL TVU[OZ VY SLZZ

r)

Expenses incurred on Initial Public Offer (IPO) , _WLUZLZ PUJ\YYLK PU 0UP[PHS 7\ISPJ 6MMLY HYL HKQ\Z[LK HNHPUZ[ [OL ZLJ\YP[PLZ WYLTP\T HJJV\U[

s)

Contingent liabilities ( JVU[PUNLU[ SPHIPSP[` PZ H WVZZPISL VISPNH[PVU [OH[ HYPZLZ MYVT WHZ[ L]LU[Z ^OVZL L_PZ[LUJL ^PSS IL JVUÄYTLK I` [OL VJJ\YYLUJL VY UVU VJJ\YYLUJL VM VUL VY TVYL \UJLY[HPU M\[\YL L]LU[Z IL`VUK [OL JVU[YVS VM [OL *VTWHU` VY H WYLZLU[ VISPNH[PVU [OH[ PZ UV[ YLJVNUPaLK ILJH\ZL P[ PZ UV[ WYVIHISL [OH[ HU V\[ÅV^ VM YLZV\YJLZ ^PSS IL YLX\PYLK [V ZL[[SL [OL VISPNH[PVU ( JVU[PUNLU[ SPHIPSP[` HSZV

VY [OL W\YWVZL VM JHSJ\SH[PUN KPS\[LK LHYUPUNZ WLY ZOHYL [OL UL[ WYVÄ[ VY SVZZ MVY [OL YLWVY[PUN WLYPVK H[[YPI\[HISL [V LX\P[` ZOHYLOVSKLYZ HUK [OL ^LPNO[LK H]LYHNL U\TILY VM ZOHYLZ V\[Z[HUKPUN

Financial statements 50-96

Employee Stock Compensation Cost , TWSV`LLZ PUJS\KPUN ZLUPVY L_LJ\[P]LZ VM [OL JVTWHU` YLJLP]L YLT\ULYH[PVU PU [OL MVYT VM ZOHYL IHZLK WH`TLU[ [YHUZHJ[PVUZ ^OLYLI` LTWSV`LLZ YLUKLY ZLY]PJLZ HZ JVUZPKLYH[PVU MVY LX\P[` PUZ[Y\TLU[Z LX\P[` ZL[[SLK [YHUZHJ[PVUZ Statutory reports 10-49

p)

( [ LHJO YLWVY[PUN KH[L [OL *VTWHU` YL HZZLZZLZ \UYLJVNUPaLK KLMLYYLK [H_ HZZL[Z 0[ YLJVNUPaLZ \UYLJVNUPaLK KLMLYYLK [H_ HZZL[Z [V [OL L_[LU[ [OH[ P[ OHZ ILJVTL YLHZVUHIS` JLY[HPU VY ]PY[\HSS` JLY[HPU HZ [OL JHZL TH` IL [OH[ Z\MÄJPLU[ M\[\YL [H_HISL PUJVTL ^PSS IL H]HPSHISL HNHPUZ[ ^OPJO Z\JO KLMLYYLK [H_ HZZL[Z JHU IL YLHSPaLK

K\YPUN [OL YLWVY[PUN WLYPVK HYL HKQ\Z[LK MVY [OL LMMLJ[Z VM HSS KPS\[P]L WV[LU[PHS LX\P[` ZOHYLZ

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS For the year ended March 31, 2016

are accounted on the basis of hedging principles to the extent that the same does not JVUĂ…PJ[ ^P[O [OL L_PZ[PUN THUKH[VY` HJJV\U[PUN standards, other Authoritative pronouncements and other regulatory requirements.

arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize a contingent liability but discloses P[Z L_PZ[LUJL PU [OL Ă„UHUJPHS Z[H[LTLU[Z

t)

Derivatives instruments ; OL *VTWHU` \ZLZ KLYP]H[P]L Ă„UHUJPHS instruments, such as, foreign currency forward contracts to hedge foreign currency risk arising MYVT M\[\YL [YHUZHJ[PVUZ PU YLZWLJ[ VM ^OPJO Ă„YT commitments are made or which are highly probable forecast transactions. It also uses interest rate swaps to hedge interest rate risk arising from variable rate loans. As per the ICAI Announcement, derivative contracts, other than those covered under Accounting Standard-11,

3.

SHARE CAPITAL

u)

Measurement of EBITDA The Company has elected to present earnings before interest expense, tax, depreciation and amortization (EBITDA) as a separate line item VU [OL MHJL VM [OL Z[H[LTLU[ VM WYVĂ„[ HUK SVZZ The Company measures EBITDA on the basis VM WYVĂ„[ SVZZ MYVT JVU[PU\PUN VWLYH[PVUZ 0U P[Z measurement, the Company does not include KLWYLJPH[PVU HUK HTVY[PaH[PVU L_WLUZL Ă„UHUJL costs and tax expense.

(` in Lacs) As at March 31, 2016

As at March 31, 2015

Authorized Shares 87,000,000 equity shares of `10/- each (Previous year 87,000,000 equity shares of `10/- each)

8,700.00

8700.00

Issued, Subscribed and fully paid-up shares 73,393,770 equity shares of `10/- each (Previous year 73,393,770 equity shares of `10/- each)

7,339.38

7339.38

(a) Reconciliation of equity shares outstanding at the beginning and at the end of the year As at March 31, 2016 No. of shares Amount (` in Lacs)

As at March 31, 2015 No. of shares Amount (` in Lacs)

Shares outstanding at the beginning of the year Shares Issued during the year Shares bought back during the year

7,33,93,770 -

7,339.38 -

7,33,93,770 -

7,339.38 -

Shares outstanding at the end of the year

7,33,93,770

7,339.38

7,33,93,770

7,339.38

(b) Terms/rights attached to equity shares The Company has only one class of equity shares having par value of ` 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. During the year ended March 31, 2016, the amount of per share dividend proposed as distribution to equity shareholders was ` 1.20 (Previous Year ` 1.20). In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

66 Hindustan Media Ventures Limited

Annual Report 2015-16

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

(c) Shares held by holding/ ultimate holding Company and/ or their subsidiaries/ associates

6\[ VM [OL LX\P[` ZOHYLZ PZZ\LK I` [OL *VTWHU` ZOHYLZ OLSK I` P[Z OVSKPUN JVTWHU` PZ HZ ILSV^! (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

HT Media Limited, the holding company WYL]PV\Z `LHY LX\P[` ZOHYLZ VM ` LHJO M\SS` WHPK

,X\P[` ZOHYLZ HSSV[LK HZ M\SS` WHPK \W IVU\Z I` JHWP[HSPaH[PVU MYVT ZLJ\YP[PLZ WYLTP\T HJJV\U[ 0U -@ M\SS` WHPK IVU\Z ZOHYLZ PU [OL YH[PV VM ! I` JHWP[HSPaPUN Z\T VM ` 3HJZ MYVT ZLJ\YP[PLZ WYLTP\T HJJV\U[

As at March 31, 2016 (No. of shares)

(Z H[ 4HYJO 5V VM ZOHYLZ

Statutory reports 10-49

(d) Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date

(e) Details of shareholders holding more than 5% shares in the Company As at March 31, 2016 No. of shares

(Z H[ 4HYJO 5V VM ZOHYLZ

OVSKPUN

(Z VU 4HYJO 9LSPHUJL *HWP[HS ;Y\Z[LL *V 3[K ( J [OYV\NO ]HYPV\Z ZJOLTLZ VM 4\[\HS -\UKZ OHZ U\TILY VM LX\P[` ZOHYLZ ILPUN VM [OL [V[HS LX\P[` ZOHYL JHWP[HS VM [OL *VTWHU`

(Z WLY [OL YLJVYKZ VM [OL JVTWHU` 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 ZOHYLZ

(f)

Shares reserved for issue under options

-VY KL[HPSZ VM ZOHYL YLZLY]LK MVY PZZ\L \UKLY ,TWSV`LLZ :[VJR 6W[PVU 7SHU ,:67 VM [OL *VTWHU` YLMLY UV[L

4

RESERVES & SURPLUS (` PU 3HJZ

Capital Reserve Capital Redemption Reserve -VYLPNU *\YYLUJ` ;YHUZSH[PVU 9LZLY]L :LJ\YP[PLZ 7YLTP\T (JJV\U[ )HSHUJL HZ WLY SHZ[ ÄUHUJPHS Z[H[LTLU[Z

As at March 31, 2016

(Z H[ 4HYJO

General Reserve )HSHUJL HZ WLY SHZ[ ÄUHUJPHS Z[H[LTLU[Z (KK! HTV\U[ [YHUZMLYYLK MYVT Z\YWS\Z IHSHUJL PU [OL Z[H[LTLU[ VM WYVÄ[ HUK SVZZ

Closing Balance

687.87

687.87

Financial statements 50-96

,X\P[` ZOHYLZ VM ` LHJO M\SS` WHPK \W /; 4LKPH 3PTP[LK [OL OVSKPUN JVTWHU` 2V[HR 4HOPUKYH 0U[LYUH[PVUHS 3PTP[LK 9LSPHUJL *HWP[HS ;Y\Z[LL *V 3[K ( J [OYV\NO ]HYPV\Z ZJOLTLZ VM 4\[\HS -\UKZ

% holding

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

4

RESERVES & SURPLUS (Contd.) (` PU 3HJZ

:\YWS\Z PU [OL Z[H[LTLU[ VM PYVÄ[ HUK Loss )HSHUJL HZ WLY SHZ[ ÄUHUJPHS Z[H[LTLU[Z 7YVÄ[ MVY [OL `LHY 3LZZ! (WWYVWYPH[PVUZ! (KQ\Z[TLU[ PU YLZLY]LZ VU HJJV\U[ VM SPML JOHUNL VM (ZZL[Z HZ WLY *VTWHUPLZ (J[ 7YVWVZLK ÄUHS LX\P[` KP]PKLUK BHTV\U[ WLY ZOHYL ` 7YL]PV\Z @LHY ` D ;H_ VU WYVWVZLK LX\P[` KP]PKLUK 5L[ Z\YWS\Z PU [OL Z[H[LTLU[ VM PYVÄ[ Loss ;V[HS 9LZLY]LZ HUK :\YWS\Z

5

As at March 31, 2016

(Z H[ 4HYJO

58,358.13 83,521.34

41,363.46 66,526.69

DEFERRED TAX LIABILITIES (NET) (` PU 3HJZ As at March 31, 2016

Deferred tax liabilities +PMMLYLUJLZ PU KLWYLJPH[PVU PU ISVJR VM Ä_LK HZZL[Z HZ WLY [H_ IVVRZ HUK ÄUHUJPHS IVVRZ

(Z H[ 4HYJO

1,587.47

1,333.46

7YV]PZPVU MVY KV\I[M\S KLI[Z HUK HK]HUJLZ

Gross deferred tax assets Deferred tax liabilities (net)

771.97 815.50

746.69 586.77

Gross deferred tax liabilities Deferred tax assets ,MMLJ[ VM L_WLUKP[\YL KLIP[LK [V [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ PU [OL J\YYLU[ `LHY LHYSPLY `LHYZ I\[ HSSV^LK MVY [H_ W\YWVZLZ PU MVSSV^PUN `LHYZ

6

OTHER LONG TERM LIABILITIES (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

Trade payables 3LHZL LX\HSPaH[PVU YLZLY]L

TOTAL

9.45

5.67

7

SHORT-TERM BORROWINGS (` PU 3HJZ As at March 31, 2016

:LJ\YLK )\`LY Z *YLKP[ MYVT @LZ )HUR

(Z H[ 4HYJO

1,271.75

1,789.01

<UZLJ\YLK *VTTLYJPHS WHWLY MYVT ;H[H 4VUL` 4HYRL[ -\UK *VTTLYJPHS WHWLY MYVT 0UKPHI\SSZ <S[YH :OVY[ ;LYT -\UK

)\`LY Z *YLKP[ MYVT +L\[ZJOL )HUR

Hindustan Media Ventures Limited

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

7

SHORT-TERM BORROWINGS (Contd.) (` PU 3HJZ As at March 31, 2016

)\`LY Z *YLKP[ MYVT *P[P )HUR

(Z H[ 4HYJO

=LUKVY -PUHUJPUN MYVT *P[P )HUR

=LUKVY -PUHUJPUN MYVT +L\[ZJOL )HUR

16,002.67 17,274.42

8,055.64 9,844.65

TOTAL

)\`LY»Z JYLKP[ MYVT @LZ )HUR PZ ZLJ\YLK I` ^H` VM ÄYZ[ WHYP WHZZ\ JOHYNL VU HSS J\YYLU[ HZZL[Z VM [OL IVYYV^LY PUJS\KPUN Z[VJRZ VM YH^ TH[LYPHSZ ZLTP ÄUPZOLK HUK ÄUPZOLK NVVKZ JVUZ\THISL Z[VYLZ HUK ZWHYLZ HUK Z\JO V[OLY TV]HISL PUJS\KPUN IVVR KLI[Z IPSSZ KVJ\TLU[HY` JSLHU V\[Z[HUKPUN TVUPLZ YLJLP]HISLZ IV[O WYLZLU[ HUK M\[\YL 8.

OTHER CURRENT LIABILITIES

Statutory reports 10-49

=LUKVY -PUHUJPUN MYVT )57 7HYPIHZ

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

(` PU 3HJZ

;YHKL WH`HISLZ 9LMLY UV[L MVY KL[HPSZ VM K\LZ [V TPJYV HUK ZTHSS LU[LYWYPZLZ

TOTAL

0UJS\KLK PU ;YHKL WH`HISLZ 6[OLY SPHIPSP[PLZ ! +\L [V /VSKPUN *VTWHU` (TV\U[ WH`HISL [V 0U]LZ[VY ,K\JH[PVU HUK 7YV[LJ[PVU -\UK

9.

(Z H[ 4HYJO

17,556.67 5PS

15,676.20 5PS

SHORT TERM PROVISIONS (` PU 3HJZ As at March 31, 2016

7YV]PZPVU MVY LTWSV`LL ILULÄ[Z 7YV]PZPVU MVY SLH]L ILULÄ[Z 7YV]PZPVU MVY NYH[\P[` YLMLY UV[L Other provisions 7YV]PZPVU MVY [H_H[PVU b UL[ VM HK]HUJL [H_ ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ d 7YV]PZPVU MVY WYVWVZLK KP]PKLUK VU LX\P[` ZOHYLZ 7YV]PZPVU MVY [H_ VU WYVWVZLK LX\P[` KP]PKLUK TOTAL

(Z H[ 4HYJO

1,851.59

2,162.56

Financial statements 50-96

Other liabilities 0U[LYLZ[ HJJY\LK I\[ UV[ K\L VU IVYYV^PUNZ HUK V[OLYZ )VVR V]LYKYHM[ 7H`HISL [V /VSKPUN JVTWHU` JVTWHUPLZ \UKLY [OL ZHTL THUHNLTLU[

*\Z[VTLYZ HUK HNLU[Z IHSHUJLZ (K]HUJL MYVT J\Z[VTLYZ 6\[Z[HUKPUN K\LZ VM V[OLY JYLKP[VYZ <UJSHPTLK KP]PKLUK :\UKY` KLWVZP[Z :[H[\[VY` K\LZ

As at March 31, 2016

Hindustan Media Ventures Limited

-

As at April 1, 2015

981.37

As at March 31, 2016

1,224.83

1,239.75

56.70

41.78

41.78

3,986.47

3,781.71

1,014.35

800.95

800.95

5,000.82

809.32

921.20

889.10

688.47

688.47

1,698.42

1,609.67

1,609.67

10,521.01

10,674.01

10,275.67

8,654.07

8,654.07

20,796.68

19,328.08

19,328.08

188.94

164.19

415.12

325.28

325.28

604.06

489.47

489.47

98.76

90.73

294.29

254.74

254.74

393.05

345.47

345.47

-P_[\YLZ

6MÄJL -\YUP[\YL HUK

4HJOPULY` LX\PWTLU[Z

7SHU[ HUK

;HUNPISL (ZZL[Z

14.59

18.56

13.94

10.04

10.04

28.53

28.60

28.60

=LOPJSLZ

;V[HS

17,825.29

17,871.52

12,959.17

10,775.33

10,775.33

30,784.46

28,646.85

28,646.85

;HUNPISL (ZZL[Z

(Z H[ 4HYJO

0.45

1.79

7.82

6.48

6.48

8.27

8.27

8.27

+L]LSVWTLU[

-

-

)YHUK

143.70

134.64

274.76

231.72

231.72

418.46

6,696.00

-

-

-

-

6,696.00

366.36

366.36

3PJLUZLZ

>LIZP[L :VM[^HYL

0U[HUNPISL (ZZL[Z

5L[ )SVJR

Plant & Machinery

(JJ\T\SH[LK +LWYLJPH[PVU

+LWYLJPH[PVU *OHYNL MVY [OL @LHY

.YVZZ )SVJR

7HY[PJ\SHYZ

Leasehold Land

March 31, 2016

)\PSKPUNZ

7SHU[ 4HJOPULY`

3LHZLOVSK 3HUK

4HYJO

)\PSKPUNZ

` PU 3HJZ

+\YPUN [OL `LHY *VTWHU` OHZ HJX\PYLK /PUKP )\ZPULZZ )YHUK P L /PUK\Z[HU /PUK\Z[HU PU 5HUKHU 2HKHTIPUP /\T ;\T HUK V[OLY /PUKP W\ISPJH[PVU YLSH[LK [YHKLTHYRZ MYVT P[Z WHYLU[ JVTWHU` /; 4LKPH 3PTP[LK

+L[HPSZ VM HZZL[Z NP]LU \UKLY VWLYH[PUN SLHZL HYL HZ \UKLY!

981.37

As at March 31, 2015

5L[ )SVJR

As at March 31, 2016

+PZWVZHSZ

-

-

As at March 31, 2015

*OHYNL MVY [OL `LHY

+PZWVZHSZ

YLZLY]LZ

HKQ\Z[LK PU VWLUPUN

+LWYLJPH[PVU PTWHJ[ VM

JOHUNL PU \ZLM\S SP]LZ

*OHYNL MVY [OL `LHY

As at April 1, 2014

+LWYLJPH[PVU

1,281.53

As at March 31, 2016

981.37

4,582.66

+PZWVZHSZ

1,281.53

4,582.66

981.37

1,281.53

(KKP[PVUZ

As at April 1, 2015

+PZWVZHSZ

981.37

As at March 31, 2015

(KKP[PVUZ

7YLTPZLZ

[V 3LHZLOVSK

0TWYV]LTLU[

)\PSKPUNZ

3HUK

3HUK

-YLLOVSK 3LHZLOVSK

As at April 1, 2014

*VZ[ VY ]HS\H[PVU

7HY[PJ\SHYZ

10. TANGIBLE ASSETS AND INTANGIBLE ASSETS

6,840.15

136.43

282.58

238.20

238.20

7,122.73

374.63

374.63

0U[HUNPISL (ZZL[Z

(Z H[ 4HYJO

;V[HS

` PU 3HJZ

Financial Statements

NOTES TO FINANCIAL STATEMENTS

-VY [OL `LHY LUKLK 4HYJO

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

11. NON CURRENT INVESTMENTS (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

Financial statements 50-96

Statutory reports 10-49

5VU [YHKL PU]LZ[TLU[Z ]HS\LK H[ JVZ[ \USLZZ Z[H[LK V[OLY^PZL 8\V[LK 0U]LZ[TLU[ PU )VUKZ 8\V[LK ,__VU 4VIPS *VYWVYH[PVU 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM <:+ LHJO M\SS` WHPK 4PJYVZVM[ *VYW 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM <:+ LHJO M\SS` WHPK <UP[Z PU 4\[\HS M\UKZ 8\V[LK 2V[HR 0UJVTL 6WWVY[\UP[PLZ -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK +/-3 7YHTLYPJH +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK :)0 +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK <;0 +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK ;H[H +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK )PYSH :\U 3PML +`UHTPJ )VUK -\UK 9L[HPS .YV^[O

3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK :)0 *VYWVYH[L )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 14 (YIP[YHNL (K]HU[HNL -\UK (UU\HS )VU\Z 6W[PVU )VU\Z <UP[Z 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK :\UKHYHT :LSLJ[ +LI[ :OVY[ ;LYT (ZZL[ 7SHU .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK )PYSH :\U 3PML +`UHTPJ )VUK -\UK 9L[HPS .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 9LSPHUJL +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0*0*0 7Y\KLU[PHS 3VUN ;LYT .PS[ -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0*0*0 7Y\KLU[PHS )HURPUN HUK 7:< +LI[ -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 9LSPHUJL )HURPUN 7:< +LI[ -\UK .YV^[O 7SHU 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 3 ; :OVY[ ;LYT 6WWVY[\UP[PLZ -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0+-* *VYWVYH[L )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK ;(;( :OVY[ ;LYT )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0+-* *VYWVYH[L )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK <;0 +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK :)0 4HNU\T .PS[ -\UK 3VUN ;LYT .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

11. NON CURRENT INVESTMENTS (Contd.) (` PU 3HJZ As at March 31, 2016 0+-* +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0+-* +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0+-* .V]LYUTLU[ :LJ\YP[PLZ -\UK 0U]LZ[TLU[ 7SHU .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK <;0 +`UHTPJ )VUK -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK <;0 .PS[ (K]HU[HNL -\UK 3;7 .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK )PYSH :\U 3PML .V][ :LJ\YP[PLZ 3VUN ;LYT .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK /+-* /PNO 0U[LYLZ[ -\UK +`UHTPJ 7SHU .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK /+-* .PS[ -\UK 3VUN ;LYT .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK :)0 4HNU\T .PS[ -\UK 3VUN ;LYT .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0*0*0 7Y\KLU[PHS :OVY[ ;LYT 7SHU .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 0+-* :\WLY :H]LY 0UJVTL -\UK 4LKP\T ;LYT 7SHU .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 0+-* +`UHTPJ )VUK .YV^[O 7SHU

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 9LSPHUJL +`UHTPJ )VUK -\UK .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK :)0 :OVY[ ;LYT +LI[ -\UK .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK ;LTWSL[VU 0UKPH 0UJVTL 6WW -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK ;LTWSL[VU 0UKPH :OVY[ [LYT 0UJVTL 7SHU 9L[HPS .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK <;0 :OVY[ ;LYT 0UJVTL -\UK 07 .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 3 ; ;YPWSL (JL )VUK -\UK )VU\Z

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK /+-* /PNO 0U[LYLZ[ -\UK +`UHTPJ 7SHU .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK +/-3 7YHTLYPJH :OVY[ 4H[\YP[` -\UK (UU\HS )VU\Z 7SHU

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK <;0 :OVY[ ;LYT 0UJVTL -\UK 07 .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK -YHURSPU 0UKPH *VYWVYH[L )VUK 6WWVY[\UP[PLZ -\UK .96>;/ 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK /+-* :OVY[ ;LYT 7SHU .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 0*0*0 7Y\KLU[PHS 9LN\SHY :H]PUNZ -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK

Hindustan Media Ventures Limited

(Z H[ 4HYJO

Annual Report 2015-16

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

11. NON CURRENT INVESTMENTS (Contd.) (` PU 3HJZ As at March 31, 2016

Statutory reports 10-49

Financial statements 50-96

9LSPHUJL 9LN\SHY :H]PUNZ -\UK +LI[ 7SHU 0UZ[P[\[PVUHS .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 9LSPNHYL 0U]LZJV (YIP[YHNL -\UK )VU\Z 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK -YHURSPU 0UKPH 3V^ +\YH[PVU -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 14 (YPIP[YHNL (K]HU[HNL -\UK )VU\Z 6W[PVU )VU\Z <UP[Z 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK -YHURSPU 0UKPH :;07 .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK 3 ; 0UJVTL 6WWVY[\UP[PLZ -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK <;0 0UJVTL 6WWVY[\UP[PLZ -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK /+-* 4LKP\T ;LYT 6WWVY[\UP[PLZ -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK <UP[Z PU -P_LK 4H[\YP[` 7SHUZ 8\V[LK 9LSPHUJL -P_LK /VYPaVU -\UK ??0= :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 2V[HR -47 :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO )PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ 26 +H`Z .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 2V[HR -47 :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??=0 :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO /+-* -47 + (WYPS :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO /+-* -47 + (WYPS :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??=0 :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO /+-* -47 + (WYPS :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 2V[HR -47 :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??=000 :LYPLZ .YV^[O 7SHU 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL 0U[LY]HS -\UK 0= :LYPLZ .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO <;0 -P_LK 0UJVTL -\UK :LYPLZ ??00 ?000 +H`Z .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??0? :LYPLZ 7SHU .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 0 *\T\SH[P]L 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 1 *\T\SH[P]L 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO

(Z H[ 4HYJO

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

11. NON CURRENT INVESTMENTS (Contd.) (` PU 3HJZ As at March 31, 2016 :\UKHYHT -P_LK ;LYT 7SHU /0 .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO /+-* -47 + -,)9<(9@ :,90,: .96>;/ 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO <;0 -P_LK ;LYT 0UJVTL -\UK :LYPLZ ??0= =0 +H`Z .YV^[O 7SHU 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 5 *\T\SH[P]L 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??? :LYPLZ .YV^[O 7SHU 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO )PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ 53 +H`Z .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO :)0 +LI[ -\UK :LYPLZ ) +H`Z .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO <;0 -P_LK ;LYT 0UVTJL -\UK :LYPLZ ??0= =00 +H`Z .YV^[O 7SHU 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO :)0 +LI[ -\UK :LYPLZ ) +H`Z .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU / *\T\SH[P]L

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO /+-* -47 + 4H` :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??000 :LYPLZ .YV^[O 7SHU

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU - *\T\SH[P]L

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU / *\T\SH[P]L

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO )PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ /* KH`Z .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 1 *\T\SH[P]L

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO +/-3 7YHTLYPJH -P_LK 4H[\YP[` 7SHU :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 3 ; -47 =00 1\S` + ( .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL @LHYS` 0U[LY]HS -\UK :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0*0*0 7Y\ -47 :LYPLZ +H`Z 7SHU 5 *\T\SH[P]L

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO

Hindustan Media Ventures Limited

(Z H[ 4HYJO

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

11. NON CURRENT INVESTMENTS (Contd.) (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

54,827.58 54,827.58

45,910.89 45,910.89

Statutory reports 10-49

2V[HR -47 :LYPLZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO :\UKHYHT -P_LK ;LYT 7SHU -3 @YZ .YV^[O

503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO :\I ;V[HS 3LZZ! 7YV]PZPVU MVY KPTPU\[PVU PU [OL ]HS\L VM SVUN [LYT PU]LZ[TLU[Z TOTAL ;OLZL 0U]LZ[TLU[Z HYL WSLKNLK PU MH]V\Y VM +L\[ZJOL )HUR MVY 6]LYKYHM[ -HJPSP[`

*SHZZPÄLK HZ J\YYLU[ WVY[PVU VM SVUN [LYT PU]LZ[TLU[Z K\YPUN [OL `LHY (NNYLNH[L HTV\U[ VM X\V[LK PU]LZ[TLU[Z 4HYRL[ =HS\L ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

12. LONG TERM LOANS AND ADVANCES (` PU 3HJZ As at March 31, 2016 <UZLJ\YLK JVUZPKLYLK NVVK *HWP[HS (K]HUJL :LJ\YP[` +LWVZP[Z

(Z H[ 4HYJO

588.86

1,206.97

13. OTHER NON CURRENT ASSETS (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

)HSHUJL ^P[O )HURZ! 4HYNPU TVUL`

0UJVTL HJJY\LK VU 0U]LZ[TLU[Z HUK KLWVZP[Z

TOTAL

3,071.47

4,339.15

0UJS\KLZ Ä_LK KLWVZP[ YLJLPW[Z WSLKNLK ^P[O IHURZ HUK OLSK HZ THYNPU TVUL` VM ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ

14. CURRENT INVESTMENTS (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

*\YYLU[ WVY[PVU VM 3VUN [LYT PU]LZ[TLU[Z ]HS\LK H[ JVZ[ <UP[Z PU 4\[\HS M\UKZ 8\V[LK 0*0*0 7Y\KLU[PHS :OVY[ ;LYT 7SHU .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0+-* :\WLY :H]LY 0UJVTL -\UK 4LKP\T ;LYT 7SHU .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 0+-* +`UHTPJ )VUK .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK )PYSH :\U 3PML +`UHTPJ )VUK -\UK 9L[HPS .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK

Financial statements 50-96

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

14. CURRENT INVESTMENTS (Contd.) (` PU 3HJZ As at March 31, 2016 :)0 :OVY[ ;LYT +LI[ -\UK .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 3 ; ;YPWSL (JL )VUK -\UK )VU\Z

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK /+-* /PNO 0U[LYLZ[ -\UK +`UHTPJ 7SHU .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK +/-3 7YHTLYPJH :OVY[ 4H[\YP[` -\UK (UU\HS )VU\Z 7SHU

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK 9LSPHUJL +`UHTPJ )VUK -\UK .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO /+-* 4LKP\T ;LYT 6WWVY[\UP[PLZ -\UK .YV^[O 3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO M\SS` WHPK /+-* 4LKP\T ;LYT 6WWVY[\UP[PLZ -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK ;LTWSL[VU 0UKPH 0UJVTL 6WW -\UK .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO M\SS` WHPK <UP[Z PU -P_LK 4H[\YP[` 7SHUZ 8\V[LK 3 ; -47 =00 (WYPS +( .YV^[O 3HJZ 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU / *\T\SH[P]L

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO /+-* -47 + 4H` :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??000 :LYPLZ .YV^[O 7SHU

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU - *\T\SH[P]L

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU / *\T\SH[P]L

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO )PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ /* KH`Z .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 1 *\T\SH[P]L

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO +/-3 7YHTLYPJH -P_LK 4H[\YP[` 7SHU :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 3 ; -47 =00 1\S` + ( .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 9LSPHUJL @LHYS` 0U[LY]HS -\UK :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO :\UKHYHT -P_LK ;LYT 7SHU -3 @YZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0*0*0 7Y\KLU[PHS -47 :LYPLZ +H`Z 7SHU 5 *\T\SH[P]L

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO

Hindustan Media Ventures Limited

(Z H[ 4HYJO

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

(` PU 3HJZ As at March 31, 2016

240.11 17,076.85 17,076.85

310.32 8,810.32 8,810.32

15. INVENTORIES (valued at lower of cost and net realisable value) (` PU 3HJZ As at March 31, 2016 9H^ TH[LYPHSZ BPUJS\KLZ Z[VJR PU [YHUZP[ VM ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ D -PUPZOLK NVVKZ :[VYLZ HUK ZWHYLZ >VYR PU WYVNYLZZ :JYHW HUK ^HZ[L WHWLYZ TOTAL

4,821.09

(Z H[ 4HYJO

4,484.11

Financial statements 50-96

Statutory reports 10-49

2V[HR -47 :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O

3HJZ 7YL]PV\Z @LHY 503 <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL -P_LK /VYPaVU -\UK ??00 :LYPLZ .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 9LSPHUJL 4\[\HS -\UK -P_LK /VYPaVU -\UK ??00 :Y .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO )PYSH :\U 3PML -P_LK ;LYT 7SHU :LYPLZ -> .YV^[O KH`Z 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO <;0 4\[\HS -\UK -;0 :Y ?00 =000 + .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO <;0 -P_LK ;LYT 0UJVTL -\UK :LYPLZ ?00 ? KH`Z .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO 0+-* -P_LK ;LYT 7SHU :LYPLZ .YV^[O 503 7YL]PV\Z @LHY 3HJZ <UP[Z VM ` LHJO TOTAL (A) 0U]LZ[TLU[ PU )VUKZ 8\V[LK 5/(0 SHJ WYL]PV\Z `LHY SHJ \UP[Z VM ` LHJO M\SS` WHPK \W 7-* SHJ WYL]PV\Z `LHY SHJ \UP[Z VM ` LHJO M\SS` WHPK \W 0U]LZ[TLU[ PU ,X\P[` 0UZ[Y\TLU[Z 8\V[LK 1=3 (NYV 0UK\Z[YPLZ 3[K 3HJ 7YL]PV\Z @LHY SHJ ZOHYLZ VM ` LHJO M\SS` WHPK \W TOTAL (B) ;6;(3 ( ) 7YV]PZPVU MVY KPTPU\[PVU PU [OL ]HS\L VM PU]LZ[TLU[Z GRAND TOTAL +PZJSVZ\YL ^P[O YLZWLJ[ [V HIV]L (NNYLNH[L HTV\U[ VM X\V[LK PU]LZ[TLU[Z 4HYRL[ ]HS\L ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ ;OLZL 0U]LZ[TLU[Z HYL WSLKNLK PU MH]V\Y VM +L\[ZJOL )HUR MVY 6]LYKYHM[ -HJPSP[`

*SHZZPÄLK HZ J\YYLU[ WVY[PVU VM SVUN [LYT PU]LZ[TLU[Z K\YPUN [OL `LHY

(Z H[ 4HYJO

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

16. TRADE RECEIVABLES (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

6\[Z[HUKPUN MVY H WLYPVK L_JLLKPUN ZP_ TVU[OZ MYVT [OL KH[L [OL` HYL K\L for payment :LJ\YLK JVUZPKLYLK NVVK <UZLJ\YLK JVUZPKLYLK NVVK <UZLJ\YLK JVUZPKLYLK KV\I[M\S 7YV]PZPVU MVY KV\I[M\S YLJLP]HISLZ Other receivables :LJ\YLK JVUZPKLYLK NVVK <UZLJ\YLK JVUZPKLYLK NVVK

TOTAL

3,037.63

2,930.32

1,727.08

1,995.07

10,040.20

8,721.87

11,767.28

10,716.94

17. CASH AND BANK BALANCES (` PU 3HJZ As at March 31, 2016 *HZO HUK JHZO LX\P]HSLU[Z *HZO VU OHUK *OLX\LZ PU OHUK )HSHUJLZ ^P[O )HURZ! *\YYLU[ HJJV\U[Z KLWVZP[Z ^P[O VYPNPUHS TH[\YP[` VM SLZZ [OHU TVU[OZ 6[OLY IHUR IHSHUJLZ )HSHUJLZ ^P[O ZJOLK\SLK IHURZ VU \UJSHPTLK KP]PKLUK HJJV\U[

TOTAL

(Z H[ 4HYJO

4,469.09

3,959.57

3.03

2.43

4,472.12

3,962.00

;OL *VTWHU` JHU \[PSPaL [OLZL IHSHUJLZ VUS` [V^HYKZ ZL[[SLTLU[ VM [OL YLZWLJ[P]L \UJSHPTLK KP]PKLUK

18. SHORT TERM LOANS AND ADVANCES (` PU 3HJZ As at March 31, 2016

(Z H[ 4HYJO

<UZLJ\YLK JVUZPKLYLK NVVKZ \USLZZ V[OLY^PZL Z[H[LK (K]HUJLZ YLJV]LYHISL PU JHZO VY RPUK VY MVY ]HS\L [V IL YLJLP]LK \UZLJ\YLK JVUZPKLYLK NVVK \UZLJ\YLK JVUZPKLYLK KV\I[M\S 7YV]PZPVU MVY KV\I[M\S HK]HUJLZ

Hindustan Media Ventures Limited

2,130.21

2,079.96

2,081.76

2,031.51

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

18. SHORT TERM LOANS AND ADVANCES (Contd.) (` PU 3HJZ As at March 31, 2016 Other loans and advances :LY]PJL ;H_ *YLKP[ 9LJLP]HISL (K]HUJL [V^HYKZ W\YJOHZL VM WYVWLY[PLZ [V IL JVUZPKLYLK HZ PU]LZ[TLU[Z PU WYVWLY[` JVUZPKLYLK NVVK

(Z H[ 4HYJO

2,420.54

2,072.44

19. OTHER CURRENT ASSETS (` PU 3HJZ As at March 31, 2016 <UZLJ\YLK JVUZPKLYLK NVVKZ \USLZZ V[OLY^PZL Z[H[LK <UHTVY[PZLK WYLTP\T PU MVYLPNU L_JOHUNL KLYP]H[P]L JVU[YHJ[Z 0UJVTL HJJY\LK VU 0U]LZ[TLU[Z HUK KLWVZP[Z

(Z H[ 4HYJO

TOTAL

4,399.23

2,308.82

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

20. REVENUE FROM OPERATIONS (` PU 3HJZ

69,206.32

60,506.46

:HSL VM WYVK\J[Z :HSL VM UL^Z WHWLY HUK W\ISPJH[PVUZ

21,436.33

20,068.01

6[OLY VWLYH[PUN YL]LU\LZ :HSL VM ZJYHW ^HZ[L WHWLYZ HUK VSK W\ISPJH[PVU 7YVÄ[ VU ZHSL VM PU]LZ[TLU[Z WYVWLY[PLZ 6[OLYZ

9L]LU\L MYVT 6WLYH[PVUZ

1,210.21 91,852.86

1,284.17 81,858.64

Financial statements 50-96

6[OLYZ

9L]LU\L MYVT 6WLYH[PVUZ Sale of services (K]LY[PZLTLU[ YL]LU\L 1VI ^VYR YL]LU\L

Statutory reports 10-49

TOTAL 0UJS\KLK \UKLY SVHUZ HUK HK]HUJLZ HIV]L HYL HTV\U[Z K\L MYVT /; 4LKPH 3PTP[LK [V^HYKZ [OL KLI[VYZ JVSSLJ[LK VU ILOHSM VM /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

21. OTHER INCOME (` PU 3HJZ For the year ended March 31, 2016 0U[LYLZ[ 0UJVTL VU )HUR KLWVZP[Z 6[OLYZ 0UJVTL MYVT PU]LZ[TLU[Z <UJSHPTLK IHSHUJLZ \UZWLU[ SPHIPSP[PLZ ^YP[[LU IHJR .HPU VU ZHSL VM HZZL[

-VY [OL `LHY LUKLK 4HYJO

9LU[HS PUJVTL

4PZJLSSHULV\Z PUJVTL

6,074.63

5,644.15

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

TOTAL

22. COST OF MATERIALS CONSUMED ` PU 3HJZ

*VUZ\TW[PVU VM YH^ TH[LYPHS 0U]LU[VY` H[ [OL ILNPUUPUN VM [OL `LHY (KK! 7\YJOHZLZ K\YPUN [OL `LHY 3LZZ! :HSL VM KHTHNLK UL^ZWYPU[

3LZZ! 0U]LU[VY` H[ [OL LUK VM [OL `LHY

38,598.21

37,301.28

34,646.40

33,740.19

34,646.40

33,740.19

3,951.81

3,561.09

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

*VZ[ VM YH^ TH[LYPHS JVUZ\TLK +L[HPSZ VM YH^ TH[LYPHS JVUZ\TLK 5L^ZWYPU[ 0UR Details of inventory 9H^ TH[LYPHSZ 5L^ZWYPU[ 0UR

23. (INCREASE) / DECREASE IN INVENTORIES (` PU 3HJZ

0U]LU[VY` H[ [OL ILNPUUPUN VM [OL `LHY -PUPZOLK NVVKZ

>VYR PU WYVNYLZZ

23.64

39.80

-PUPZOLK NVVKZ

>VYR PU WYVNYLZZ

:JYHW HUK ^HZ[L WHWLYZ

5L[ 0UJYLHZL +LJYLHZL PU 0U]LU[VYPLZ

24.98 (1.34)

23.64 16.16

:JYHW HUK ^HZ[L WHWLYZ 0U]LU[VY` H[ [OL LUK VM [OL `LHY

Hindustan Media Ventures Limited

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

23. (INCREASE) / DECREASE IN INVENTORIES (Contd.) (` PU 3HJZ -VY [OL `LHY LUKLK 4HYJO

Details of inventory Finished Goods 1VI >VYR

>VYR PU WYVNYLZZ 5L^ZWYPU[

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

12,404.15

10,679.96

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

23,032.39

20,773.20

:JYHW HUK ^HZ[L WHWLYZ 5L^ZWYPU[

24. EMPLOYEE BENEFITS EXPENSE (` PU 3HJZ

:HSHYPLZ ^HNLZ HUK IVU\Z *VU[YPI\[PVU [V WYV]PKLU[ HUK V[OLY M\UKZ .YH[\P[` L_WLUZL 9LMLY 5V[L >VYRTLU HUK Z[HMM ^LSMHYL L_WLUZLZ TOTAL

Statutory reports 10-49

For the year ended March 31, 2016

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

25. OTHER EXPENSES

*VUZ\TW[PVU VM Z[VYLZ HUK ZWHYLZ 7YPU[PUN HUK ZLY]PJL JOHYNLZ 5L^Z ZLY]PJL HUK KLZWH[JO 7V^LY HUK M\LS (K]LY[PZPUN HUK ZHSLZ WYVTV[PVU HSZV YLMLY UV[L -YLPNO[ HUK MVY^HYKPUN JOHYNLZ 9LU[ 9H[LZ HUK [H_LZ 0UZ\YHUJL 9LWHPYZ HUK THPU[LUHUJL 7SHU[ HUK THJOPULY` )\PSKPUN 6[OLYZ ;YH]LSSPUN HUK JVU]L`HUJL *VTT\UPJH[PVU JVZ[Z 3LNHS HUK WYVMLZZPVUHS MLLZ 7H`TLU[ [V H\KP[VY YLMLY KL[HPSZ ILSV^ +PYLJ[VYZ» ZP[[PUN MLLZ -VYLPNU L_JOHUNL KPMMLYLUJL UL[ 7YV]PZPVU MVY KV\I[M\S KLI[Z HK]HUJLZ YLMLY UV[L 3VZZ VU KPZWVZHS VM Ä_LK HZZL[Z +VUH[PVUZ *VU[YPI\[PVUZ HSZV YLMLY UV[L 4PZJLSSHULV\Z L_WLUZLZ

Financial statements 50-96

(` PU 3HJZ

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

25. OTHER EXPENSES (Contd.) (` PU 3HJZ For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

7H`TLU[ [V (\KP[VYZ! H (Z (\KP[VY! (\KP[ MLL 3PTP[LK 9L]PL^ ;H_ H\KP[ MLL

I 0U 6[OLY *HWHJP[`! *LY[PÄJH[PVU MLLZ 6[OLY :LY]PJLZ 6\[ VM WVJRL[ L_WLUZLZ :LY]PJL [H_ VU HIV]L

102.72

62.03

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

2,249.50

2,432.27

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

26. DEPRECIATION & AMORTISATION (` PU 3HJZ

+LWYLJPH[PVU VU [HUNPISL HZZL[Z (TVY[PaH[PVU VM PU[HUNPISL HZZL[Z TOTAL

27. FINANCE COST (` PU 3HJZ

0U[LYLZ[ [V IHURZ HUK V[OLYZ )HUR JOHYNLZ ,_JOHUNL SVZZ VU ZOVY[ [LYT MVYLPNU J\YYLUJ` IVYYV^PUN [V [OL L_[LU[ JVUZPKLYLK HZ HU HKQ\Z[TLU[ [V 0U[LYLZ[ *VZ[ TOTAL

1,133.23

1,053.59

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

28. EARNINGS PER SHARE

;OL MVSSV^PUN YLÅLJ[Z [OL WYVÄ[ HUK ZOHYL KH[H \ZLK PU [OL IHZPJ HUK KPS\[LK ,7: JVTW\[H[PVUZ! *VTW\[H[PVU VM IHZPJ LHYUPUNZ WLY ZOHYL ;V[HS VWLYH[PVUZ MVY [OL `LHY 7YVÄ[ SVZZ HM[LY [H_ ` PU 3HJZ >LPNO[LK H]LYHNL U\TILY VM LX\P[` ZOHYLZ PU JHSJ\SH[PUN IHZPJ ,7: PU 3HJZ )HZPJ LHYUPUNZ WLY ZOHYL MHJL ]HS\L VM ` LHJO `) *VTW\[H[PVU VM KPS\[LK LHYUPUN WLY ZOHYL 7YVÄ[ SVZZ HM[LY [H_ ` PU 3HJZ >LPNO[LK H]LYHNL U\TILY VM LX\P[` ZOHYLZ PU JHSJ\SH[PUN KPS\[LK ,7: PU 3HJZ +PS\[LK LHYUPUNZ WLY ZOHYL MHJL ]HS\L VM ` LHJO `)

Hindustan Media Ventures Limited

24.60

19.19

24.60

19.19

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

29. SEGMENT INFORMATION

;OL *VTWHU` PZ LUNHNLK PU [OL I\ZPULZZ VM 7YPU[PUN HUK 7\ISPJH[PVU VM 5L^ZWHWLYZ HUK 7LYPVKPJHSZ ;OL LU[PYL VWLYH[PVUZ HYL NV]LYULK I` [OL ZHTL ZL[ VM YPZR HUK YL[\YUZ OLUJL [OL ZHTL OHZ ILLU JVUZPKLYLK HZ YLWYLZLU[PUN H ZPUNSL I\ZPULZZ ZLNTLU[ ;OL ZHPK [YLH[TLU[ PZ PU HJJVYKHUJL ^P[O [OL N\PKPUN WYPUJPWSLZ LU\UJPH[LK PU (JJV\U[PUN :[HUKHYK ¶ VU º:LNTLU[ 9LWVY[PUN»

;OL *VTWHU` ZLSSZ P[Z WYVK\J[Z TVZ[S` ^P[OPU 0UKPH ^P[O PUZPNUPÄJHU[ L_WVY[ PUJVTL HUK KVLZ UV[ OH]L HU` VWLYH[PVUZ PU LJVUVTPJ LU]PYVUTLU[Z ^P[O KPMMLYLU[ YPZRZ HUK YL[\YUZ HUK OLUJL P[ OHZ ILLU JVUZPKLYLK HZ [V IL VWLYH[PUN PU H ZPUNSL NLVNYHWOPJHS ZLNTLU[

;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 KLWHY[\YL H[ KH`Z ZHSHY` SHZ[ KYH^U ZHSHY` MVY LHJO JVTWSL[LK `LHYZ 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 MVSSV^PUN [HISL Z\TTHYPaLZ [OL JVTWVULU[Z VM UL[ ILULÄ[ L_WLUZLZ YLJVNUPaLK PU [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ HUK [OL M\UKLK Z[H[\Z HUK HTV\U[ YLJVNUPaLK PU [OL )HSHUJL :OLL[ MVY YLZWLJ[P]L WSHUZ!

Statutory reports 10-49

30. GRATUITY (POST EMPLOYMENT BENEFIT PLAN)

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Statement of Profit and Loss

0GV GORNQ[GG DGPGÅ¿V GZRGPUG TGEQIPK\GF KP GORNQ[GG EQUV

(` PU 3HJZ

0U[LYLZ[ JVZ[ VU ILULÄ[ VISPNH[PVU

-VY [OL `LHY LUKLK 4HYJO

,_WLJ[LK YL[\YU VU WSHU HZZL[Z

5L[ HJ[\HYPHS NHPU SVZZ YLJVNUPaLK PU [OL `LHY

5L[ )LULÄ[ ,_WLUZL

(J[\HS YL[\YU VU WSHUULK HZZL[Z

Balance Sheet

$GPGſV CUUGV NKCDKNKV[ (` PU 3HJZ As at March 31, 2016 7YLZLU[ ]HS\L VM KLÄULK ILULÄ[ VISPNH[PVUZ -HPY ]HS\L VM WSHU HZZL[Z 7SHU SPHIPSP[` HZZL[

(Z H[ 4HYJO

9LJVNUPaLK <UKLY! 3VUN ;LYT 7YV]PZPVUZ

:OVY[ ;LYT 7YV]PZPVUZ

Financial statements 50-96

*\YYLU[ ZLY]PJL JVZ[

For the year ended March 31, 2016

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

Changes in the present value of the defined benefit obligation are as follows: (` PU 3HJZ For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

7YLZLU[ ]HS\L VM VISPNH[PVU HZ H[ [OL ILNPUUPUN VM [OL `LHY

*\YYLU[ :LY]PJL JVZ[

0U[LYLZ[ JVZ[

)LULÄ[Z WHPK

7YLZLU[ ]HS\L VM VISPNH[PVU HZ H[ [OL LUK VM [OL `LHY

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

(J[\HYPHS SVZZ NHPUZ VU VISPNH[PVU

0UJS\KLZ ` 5PS 7YL]PV\Z @LHY ` 5PS WH`TLU[ THKL MYVT V^U ZV\YJLZ HUK UV[ MYVT WSHUULK HZZL[Z

Changes in the fair value of plan assets are as follows: (` PU 3HJZ

6WLUPUN -HPY ]HS\L VM WSHU HZZL[Z ,_WLJ[LK YL[\YU WSHU HZZL[Z *VU[YPI\[PVUZ I` LTWSV`LY )LULÄ[Z WHPK (J[\HYPHS NHPU SVZZLZ VU WSHU HZZL[Z *SVZPUN MHPY ]HS\L VM WSHU HZZL[Z

The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:

-\UK THUHNLK I` PUZ\YLY ;Y\Z[Z

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

;OL V]LYHSS L_WLJ[LK YH[L VM YL[\YU VU HZZL[Z PZ KL[LYTPULK IHZLK VU [OL THYRL[ WYPJLZ WYL]HPSPUN VU [OH[ KH[L HWWSPJHISL [V [OL WLYPVK V]LY ^OPJO [OL VISPNH[PVU PZ [V IL ZL[[SLK

The principal assumptions used in determining gratuity obligations for the Company’s plans are shown below: For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

\W[V `LHYZ

-YVT [V `LHYZ

(IV]L `LHYZ

+PZJV\U[ YH[L ,_WLJ[LK YH[L VM YL[\YU VU WSHU HZZL[Z -\[\YL :HSHY` 0UJYLHZL ,TWSV`LL [\YUV]LY

Hindustan Media Ventures Limited

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

;OL LZ[PTH[LZ VM M\[\YL ZHSHY` PUJYLHZLZ JVUZPKLYLK PU HJ[\HYPHS ]HS\H[PVU [HRL HJJV\U[ VM PUÃ…H[PVU ZLUPVYP[` WYVTV[PVU HUK V[OLY YLSL]HU[ MHJ[VYZ VU SVUN [LYT IHZPZ

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

;OL KPZJSVZ\YL VM [OL HTV\U[ YLX\PYLK I` WHYHNYHWO U VM (: ! (TV\U[Z MVY J\YYLU[ HUK WYL]PV\Z MV\Y WLYPVKZ HYL HZ MVSSV^Z!

For the year ended March 31, 2016

,_WLYPLUJL (KQ\Z[TLU[ VU 7SHU (ZZL[Z .HPU 3VZZ

-VY [OL `LHY LUKLK 4HYJO

-VY [OL `LHY LUKLK 4HYJO

(` PU 3HJZ -VY [OL `LHY LUKLK 4HYJO

Statutory reports 10-49

+LÄULK )LULÄ[ 6ISPNH[PVU 7SHU (ZZL[Z :\YWS\Z +LÄJP[ ,_WLYPLUJL (KQ\Z[TLU[ VU 7SHU 3PHIPSP[PLZ .HPU 3VZZ

-VY [OL `LHY LUKLK 4HYJO

;OL *VTWHU` L_WLJ[Z [V JVU[YPI\[L ` 3HJZ [V NYH[\P[` M\UK PU [OL `LHY 7YL]PV\Z @LHY ` 3HJZ (` PU 3HJZ +LÄULK *VU[YPI\[PVU 7SHU! *VU[YPI\[PVU [V 7YV]PKLU[ HUK V[OLY M\UK *OHYNLK [V Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

5HTL VM YLSH[LK WHY[PLZ ^OLYL JVU[YVS L_PZ[Z ^OL[OLY [YHUZHJ[PVUZ OH]L VJJ\YYLK VY UV[

Financial statements 50-96

31. RELATED PARTY DISCLOSURES (AS PER ACCOUNTING STANDARD 18) I) List of Related Parties and Relationships:/; 4LKPH 3PTP[LK /VSKPUN *VTWHU` ;OL /PUK\Z[HU ;PTLZ 3PTP[LK

,HY[OZ[VUL /VSKPUN ;^V 3PTP[LK

-LSSV^ :\IZPKPHYPLZ ^P[O ^OVT [YHUZHJ[PVUZ OH]L VJJ\YYLK -PYLÃ…` L =LU[\YLZ 3PTP[LK K\YPUN [OL `LHY /; 4VIPSL :VS\[PVUZ 3PTP[LK /; 6]LYZLHZ 7[L 3[K /; 3LHYUPUN *LU[LYZ 3PTP[LK ;VWTV]PLZ ,U[LY[HPUTLU[ 3PTP[LK 2L` 4HUHNLTLU[ 7LYZVUULS HUK [OLPY YLSH[P]LZ

)LUV` 9V`JOV^KO\Y` >OVSL [PTL +PYLJ[VY 7YP`H]YH[ )OHY[PH ^ L M 1\S` :OVIOHUH )OHY[PH

;OL /PUK\Z[HU ;PTLZ 3PTP[LK /;3 KVLZ UV[ OVSK HU` KPYLJ[ PU]LZ[TLU[ PU [OL *VTWHU` /V^L]LY /;3»Z Z\IZPKPHY` /; 4LKPH 3PTP[LK OVSKZ ZOHYLZ PU [OL *VTWHU`

,HY[OZ[VUL /VSKPUN ;^V 3PTP[LK PZ [OL HVSKPUN *VTWHU` VM /;3

;OL /PUK\Z[HU ;PTLZ 3[K

/; 4LKPH 3[K

/VSKPUN *VTWHU`

4HY 4HY Mar-16 4HY REVENUE TRANSACTIONS INCOME :HSL VM :[VYLZ :WHYLZ 4H[LYPHS 1VI^VYR 9L]LU\L :HSL VM (K]LY[PZLTLU[ :WHJL PU 7\ISPJH[PVU :HSL VM 5L^ZWHWLY MVY *PYJ\SH[PVU 0UMYHZ[Y\J[\YL :\WWVY[ :LY]PJLZ :LH[Z .P]LU 4LKPH 4HYRL[PUN *VTTPZZPVU *VSSLJ[PVU *OHYNLZ 9LJLP]LK EXPENSE 7\YJOHZL VM :[VYLZ :WHYLZ 4H[LYPHS 7YPU[PUN :LY]PJL *OHYNLZ 7HPK (K]LY[PZLTLU[ ,_WLUZLZ 7\YJOHZL VM 5L^ZWHWLY MVY *PYJ\SH[PVU 0UMYHZ[Y\J[\YL :\WWVY[ :LY]PJLZ :LH[Z ;HRLU 4LKPH 4HYRL[PUN *VTTPZZPVU *VSSLJ[PVU *OHYNLZ 7HPK :OHYL VM 9L]LU\L .P]LU VU 1VPU[ :HSL 9LT\ULYH[PVU WHPK [V 2L` 4HUHNLYPHS 7LYZVUULS 7H`TLU[ VM 3PJLUZL -LL -LL MVY 5L^ZWYPU[ 7YVJ\YLTLU[ :\WWVY[ :LY]PJLZ OTHERS 9LPTI\YZLTLU[ VM L_WLUZLZ PUJ\YYLK VU ILOHSM VM [OL JVTWHU` I` WHY[PLZ 9LPTI\YZLTLU[ VM L_WLUZLZ PUJ\YYLK VU ILOHSM VM [OL WHY[` I` JVTWHU` CAPITAL TRANSACTIONS 4H[LYPHS [HRLU VU 3VHU HUK Z\IZLX\LU[ YL[\YU [OLYLVM 7\YJOHZL VM ;HUNPISL 0U[HUNPISL -P_LK (ZZL[Z I` *VTWHU` :HSL VM -P_LK (ZZL[Z I` *VTWHU` BALANCE OUTSTANDING AS ON 31-03-16 9LJLP]HISL HZ (K]HUJLZ +LI[VYZ 7H`HISL HZ *YLKP[VYZ 5V[L (! ;OL [YHUZHJ[PVUZ HIV]L KV UV[ PUJS\KL ZLY]PJL [H_ ]H[ L[J

Particulars

ii) TRANSACTIONS DURING THE YEAR WITH RELATED PARTIES

/; 4VIPSL :VS\[PVUZ 3[K

Hindustan Media Ventures Limited

/; 3LHYUPUN *LU[LYZ 3[K

;VWTV]PLZ /; 6]LYZLHZ ,U[LY[HPUTLU[ 7[L 3[K 3PTP[LK Mar-16 4HY Mar-16 4HY Mar-16 4HY Mar-16 4HY Mar-16 4HY

-PYLÃ…` L =LU[\YLZ 3[K

-LSSV^ :\IZPKPHYPLZ 7YP`H]YH[ )OHY[PH

Mar-16 4HY Mar-16 4HY

)LUV` 9V`JOV^KO\Y`

2L` 4HUHNLYPHS 7LYZVUULS 247

7YP]H[L JVTWHU` PU ^OPJO +PYLJ[VY PZ H TLTILY VY +PYLJ[VY 0UKPH ,K\JH[PVU :LY]PJLZ 7YP]H[L 3[K Mar-16 4HY

4HY

Mar-16

;V[HS

(` PU 3HJZ

Financial Statements

NOTES TO FINANCIAL STATEMENTS

-VY [OL `LHY LUKLK 4HYJO

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

32. LEASES

9LU[HS L_WLUZLZ PU YLZWLJ[ VM VWLYH[PUN SLHZLZ HYL YLJVNUPaLK HZ HU L_WLUZL PU [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ VU H Z[YHPNO[ SPUL IHZPZ V]LY [OL SLHZL [LYT

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Operating Lease (for assets taken on Lease): H

;OL *VTWHU` OHZ [HRLU ]HYPV\Z YLZPKLU[PHS VMÄJL HUK NVKV^U WYLTPZLZ \UKLY VWLYH[PUN SLHZL HNYLLTLU[Z ;OLZL HYL NLULYHSS` JHUJLSSHISL SLHZLZ HUK HYL YLUL^HISL I` T\[\HS JVUZLU[ VU T\[\HSS` HNYLLK [LYTZ ^P[O VY ^P[OV\[ YLU[HS LZJHSH[PVUZ

I

3LHZL WH`TLU[Z YLJVNUPaLK MVY [OL `LHY HYL ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ HUK HYL KPZJSVZLK HZ 9LU[ \UKLY 5V[L

J

;OL M\[\YL TPUPT\T SLHZL WH`TLU[Z \UKLY UVU JHUJLSSHISL VWLYH[PUN SLHZLZ 5V[ SH[LY [OHU VUL `LHY PZ ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ 3H[LY [OHU VUL `LHY I\[ UV[ SH[LY [OHU Ä]L `LHYZ PZ ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ 3H[LY [OHU Ä]L `LHYZ PZ ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ

Statutory reports 10-49

33. CONTINGENT LIABILITY AND OTHER COMMITMENT a) Claims against company not acknowledged as debts (` PU 3HJZ

H

I ; OL *VTWHU` OHZ ÄSLK H WL[P[PVU ILMVYL [OL /VU»ISL 7H[UH /PNO *V\Y[ HNHPUZ[ [OL KLTHUK VM ` SHJZ PUJS\KPUN PU[LYLZ[ MVY ZOVY[ WH`TLU[ VM ,:0 K\LZ WLY[HPUPUN [V [OL `LHYZ MYVT [V ;OL /VU»ISL /PNO *V\Y[ OHK PUP[PHSS` Z[H`LK [OL TH[[LY HUK VU 1\S` KPZWVZLK VM [OL 7L[P[PVU ^P[O [OL 6YKLY VM ¸5V *VLYJP]L :[LW ZOHSS IL [HRLU HNHPUZ[ /4=3¹ ^P[O KPYLJ[PVU [V TV]L MVY ,:0 *V\Y[ 4H[[LY PZ Z[PSS WLUKPUN PU 3V^LY *V\Y[ ;OLYL PZ UV M\Y[OLY WYVNYLZZ PU [OL TH[[LY K\YPUN [OL `LHY

-VY [OL `LHY LUKLK 4HYJO

)HZLK VU THUHNLTLU[ HZZLZZTLU[ HUK J\YYLU[ Z[H[\Z VM [OL HIV]L TH[[LYZ [OL THUHNLTLU[ PZ JVUÄKLU[ [OH[ UV WYV]PZPVU PZ YLX\PYLK PU [OL ÄUHUJPHS Z[H[LTLU[Z HZ VU 4HYJO

(b) Capital Commitment (` PU 3HJZ

,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

As at March 31, 2016

(Z H[ 4HYJO

Financial statements 50-96

; OL *VTWHU` OHZ ÄSLK H WL[P[PVU ILMVYL [OL /VU»ISL 7H[UH /PNO *V\Y[ HNHPUZ[ HU PUP[PHS JSHPT MVY HKKP[PVUHS JVU[YPI\[PVU VM ` SHJZ THKL I` ,TWSV`LLZ :[H[L 0UZ\YHUJL *VYWVYH[PVU ,:0* YLSH[PUN [V [OL `LHYZ [V ;OL *VTWHU` OHZ M\YUPZOLK H IHUR N\HYHU[LL amounting to ` SHJZ [V ,:0* ;OL /VU»ISL /PNO *V\Y[ OHK PUP[PHSS` Z[H`LK [OL TH[[LY HUK VU 1\S` KPZWVZLK VM [OL 7L[P[PVU ^P[O [OL 6YKLY VM ¸5V *VLYJP]L :[LW ZOHSS IL [HRLU HNHPUZ[ /4=3¹ ^P[O KPYLJ[PVU [V TV]L MVY ,:0 *V\Y[ 4H[[LY PZ Z[PSS WLUKPUN PU 3V^LY *V\Y[ ;OLYL PZ UV M\Y[OLY WYVNYLZZ PU [OL TH[[LY K\YPUN [OL `LHY

For the year ended March 31, 2016

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

34. BASED ON THE INFORMATION AVAILABLE WITH THE COMPANY, FOLLOWING ARE THE DETAILS OF DUES TO MICRO AND SMALL ENTERPRISES AS DEFINED UNDER THE MSMED ACT, 2006 (` PU 3HJZ

7YPUJPWHS (TV\U[ <UWHPK

As at March 31, 2016

(Z H[ 4HYJO

5PS

5PS

5PS

5PS

5PS

5PS

0U[LYLZ[ +\L [OLYLVU H[ [OL LUK VM [OL HJJV\U[PUN `LHY ;OL HTV\U[ VM PU[LYLZ[ 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 Z\WWSPLY IL`VUK [OL HWWVPU[LK KH` K\YPUN [OL `LHY ;OL HTV\U[ VM PU[LYLZ[ K\L HUK WH`HISL MVY [OL WLYPVK VM KLSH` PU THRPUN WH`TLU[ ^OPJO OH]L ILLU WHPK I\[ IL`VUK [OL HWWVPU[LK KH` K\YPUN [OL WLYPVK I\[ ^P[OV\[ HKKPUN [OL PU[LYLZ[ ZWLJPÄLK \UKLY 4PJYV :THSS HUK 4LKP\T ,U[LYWYPZL +L]LSVWTLU[ (J[ ;OL HTV\U[ VM PU[LYLZ[ HJJY\LK HUK YLTHPUPUN \UWHPK H[ [OL LUK VM [OL WLYPVK" HUK ;OL HTV\U[ VM M\Y[OLY PU[LYLZ[ YLTHPUPUN K\L HUK WH`HISL L]LU PU [OL Z\JJLLKPUN `LHYZ \U[PS Z\JO KH[L ^OLU [OL PU[LYLZ[ K\LZ HZ HIV]L HYL HJ[\HSS` WHPK [V [OL ZTHSS LU[LYWYPZL MVY [OL W\YWVZL VM KPZHSSV^HUJL HZ H KLK\J[PISL L_WLUKP[\YL \UKLY :LJ[PVU VM [OL 4:4,+ (J[

35. DERIVATIVE INSTRUMENTS AND UNHEDGED FOREIGN CURRENCY EXPOSURE (a) Derivatives outstanding as at Balance Sheet date (PU 3HJZ 7HY[PJ\SHYZ

As at March 31, 2016

7\YWVZL

-VY^HYK JVU[YHJ[ [V I\` ;V OLKNL \UKLYS`PUN MVYLPNU J\YYLUJ` ZOVY[ [LYT SPHIPSP[` USD

(Z H[ 4HYJO

USD Notional

INR Notional

<:+ 5V[PVUHS

059 5V[PVUHS

-VY^HYK JVU[YHJ[ [V ZLSS ;V OLKNL PU]LZ[TLU[Z PU MVYLPNU J\YYLUJ` IVUKZ USD

(b) Particulars of Un-hedged Foreign Currency exposure as at reporting date

Particulars ;YHKL 9LJLP]HISLZ ;YHKL 7H`HISLZ (K]HUJL MYVT *\Z[VTLYZ ;YHKL 7H`HISLZ )\`LYZ *YLKP[ 0UJVTL HJJY\LK VU PU]LZ[TLU[Z )HSHUJLZ VU J\YYLU[ account 0U[LYLZ[ 7H`HISL

As at March 31, 2016 Exchange Amount Rate (` in Lacs) (`)

<:+ <:+ <:+ :.+ <:+ <:+

<:+

<:+

Currency

Hindustan Media Ventures Limited

Amount in respective currency (in Lacs)

As at March 31 2015 Exchange Amount Rate (` in Lacs) ( `)

Amount in respective currency (in Lacs)

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

36.1 EXPENDITURE IN FOREIGN CURRENCY (ON ACCRUAL BASIS) (` PU 3HJZ -VY [OL `LHY LUKLK 4HYJO

;YH]LSSPUN 7YVMLZZPVUHS -LLZ 0U[LYLZ[ 5L^ZWYPU[ 7YVJ\YLTLU[ :\WWVY[ :LY]PJL -LLZ 6[OLYZ

TOTAL

335.38

79.33

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

(K]LY[PZLTLU[ HUK YLSH[LK ZLY]PJLZ 0U[LYLZ[ 0UJVTL MYVT 0U]LZ[TLU[

TOTAL

17.56

27.96

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

9H^ 4H[LYPHSZ *HWP[HS .VVKZ :LY]PJLZ

TOTAL

11,954.98

5,826.92

36.2 EARNING IN FOREIGN CURRENCY (ON ACCRUAL BASIS) (` PU 3HJZ

Statutory reports 10-49

For the year ended March 31, 2016

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

36.3 VALUE OF IMPORTS ON CIF BASIS (` PU 3HJZ

7LYJLU[HNL VM [V[HS JVUZ\TW[PVU For the year ended March 31, 2016 P 9H^ TH[LYPHSZ 0TWVY[LK 0UKPNLUV\ZS` VI[HPULK

-VY [OL `LHY LUKLK 4HYJO

=HS\L (` PU 3HJZ For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

TOTAL PP :[VYLZ HUK :WHYLZ 0TWVY[LK 0UKPNLUV\ZS` VI[HPULK

100.00

100.00

34,646.40

33,740.19

TOTAL

100.00

100.00

2,579.71

2,470.27

37. SHARE BASED COMPENSATION Disclosures in accordance with the Guidance Note on Accounting for Employee Share-based Payments

;OL 0UZ[P[\[L VM *OHY[LYLK (JJV\U[HU[Z VM 0UKPH OHZ PZZ\LK H .\PKHUJL 5V[L VU (JJV\U[PUN MVY º,TWSV`LLZ :OHYL IHZLK 7H`TLU[Z» ^OPJO PZ HWWSPJHISL [V LTWSV`LL ZOHYL IHZLK WH`TLU[ WSHUZ ;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 <S[PTH[L 7HYLU[ *VTWHU` 7HYLU[ *VTWHU` HUK [OL .YV\W *VTWHU` ;V OH]L HU \UKLYZ[HUKPUN VM [OL ZJOLTL YLSL]HU[ KPZJSVZ\YLZ HYL NP]LU ILSV^

Financial statements 50-96

36.4. IMPORTED AND INDIGENOUS RAW MATERIALS, STORES AND SPARES CONSUMED (EXCLUDING CONSUMPTION INCLUDED IN EXPENDITURE DURING CONSTRUCTION PERIOD)

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

0

;OL /PUK\Z[HU ;PTLZ 3PTP[LK [OL \S[PTH[L 7HYLU[ *VTWHU` HUK /; 4LKPH 3PTP[LK [OL 7HYLU[ *VTWHU` OHZ NP]LU SVHU [V ¸/; .YV\W *VTWHUPLZ ¶ ,TWSV`LL :[VJR 6W[PVU ;Y\Z[¹ ^OPJO PU [\YU OHZ W\YJOHZLK ,X\P[` :OHYLZ VM G LHJO VM [OL *VTWHU` MVY [OL W\YWVZL VM NYHU[PUN 6W[PVUZ \UKLY [OL º/; .YV\W *VTWHUPLZ ¶,TWSV`LL :[VJR 6W[PVU 9\SLZ» ¸/; ,:67¹ [V LSPNPISL LTWSV`LLZ VM [OL NYV\W

A.

Details of Options granted as on March 31, 2016 are given below: Type of HYYHUNLTLU[

,TWSV`LL :[VJR 6W[PVUZ

:LW[LTILY

,TWSV`LL :[VJR 6W[PVUZ

4H`

,TWSV`LL :[VJR 6W[PVUZ

-LIY\HY`

,TWSV`LL :[VJR 6W[PVUZ

4HYJO

,TWSV`LL :[VJR 6W[PVUZ

(WYPS

>LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ

ë VM [OL ZOHYLZ ]LZ[ LHJO `LHY V]LY H WLYPVK VM MV\Y `LHYZ Z[HY[PUN MYVT VUL `LHY HM[LY [OL KH[L VM NYHU[ ë VM [OL ZOHYLZ ]LZ[ LHJO `LHY V]LY H WLYPVK VM MV\Y `LHYZ Z[HY[PUN MYVT VUL `LHY HM[LY [OL KH[L VM NYHU[ VU [OL KH[L VM NYHU[ HUK ]LZ[ LHJO `LHY V]LY H WLYPVK VM `LHYZ Z[HY[PUN MYVT [OL KH[L VM NYHU[ ë VM [OL ZOHYLZ ]LZ[ LHJO `LHY V]LY H WLYPVK VM MV\Y `LHYZ Z[HY[PUN MYVT VUL `LHY HM[LY [OL KH[L VM NYHU[ ë VM [OL ZOHYLZ ]LZ[ LHJO `LHY V]LY H WLYPVK VM MV\Y `LHYZ Z[HY[PUN MYVT VUL `LHY HM[LY [OL KH[L VM NYHU[

>LPNO[LK H]LYHNL MHPY ]HS\L VM [OL VW[PVUZ V\[Z[HUKPUN PZ ` WLY VW[PVU

B.

Summary of activity under the plans is given below: Number of options

6\[Z[HUKPUN H[ [OL beginning of the year .YHU[LK K\YPUN [OL `LHY -VYMLP[LK *HUJLSSLK K\YPUN [OL `LHY ,_LYJPZLK K\YPUN [OL `LHY ,_WPYLK K\YPUN [OL `LHY 6\[Z[HUKPUN H[ [OL LUK VM the year

=LZ[PUN JVUKP[PVUZ

-HPY ]HS\L 6W[PVUZ NYHU[LK VU [OL NYHU[ date UVZ `

+H[L VM NYHU[

As at March 31, 2016 WeightedWeightedaverage average exercise remaining price contractual (`) life (in years)

Number of options

Weightedaverage exercise price (`)

As at March 31 2015 Weightedaverage remaining contractual life (in years)

( Z UV Z[VJR VW[PVUZ OH]L ILLU NYHU[LK K\YPUN [OL J\YYLU[ `LHY HUK WYL]PV\Z `LHY [OL KPZJSVZ\YLZ YLNHYKPUN LZ[PTH[LK MHPY ]HS\L HYL UV[ WYV]PKLK

Hindustan Media Ventures Limited

Annual Report 2015-16

-VY [OL `LHY LUKLK 4HYJO

C.

Details of exercise price for stock options at the end of the year

( Z[VJR VW[PVU NP]LZ HU LTWSV`LL [OL YPNO[ [V W\YJOHZL LX\P[` ZOHYLZ VM [OL *VTWHU` H[ H Ä_LK WYPJL ^P[OPU H ZWLJPÄJ WLYPVK VM [PTL ;OL KL[HPSZ VM L_LYJPZL WYPJL MVY Z[VJR VW[PVUZ V\[Z[HUKPUN H[ [OL LUK VM [OL `LHY HYL HZ \UKLY!

9HUNL VM L_LYJPZL WYPJLZ

5\TILY VM VW[PVUZ V\[Z[HUKPUN

>LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML VM VW[PVUZ PU `LHYZ

>LPNO[LK H]LYHNL L_LYJPZL WYPJL `

` [V ` ` [V `

6 W[PVUZ NYHU[LK HYL L_LYJPZHISL MVY H TH_PT\T WLYPVK VM `LHYZ HM[LY [OL ZJOLK\SLK ]LZ[PUN KH[L HZ WLY [OL :JOLTL

; OL *VTWHU` OHZ HJJV\U[LK MVY [OL JOHYNL \UKLY 0U[YPUZPJ =HS\L TL[OVK YLSH[HISL [V VW[PVUZ NYHU[LK [V P[»Z LTWSV`LLZ \UKLY [OPZ ZJOLTL :HTL PZ PUJS\KLK PU ,TWSV`LL ILULÄ[ L_WLUZLZ

+ PMMLYLUJL IL[^LLU LTWSV`LL JVTWLUZH[PVU JVZ[ JHSJ\SH[LK \ZPUN [OL MHPY ]HS\L VM Z[VJR VW[PVUZ HUK [OL LTWSV`LL JVTWLUZH[PVU JVZ[ JHSJ\SH[LK VU [OL PU[YPUZPJ ]HS\L VM [OL VW[PVUZ PZ ` 5PS 7YL]PV\Z @LHY WYVÄ[ VM ` 3HJZ

00

;OL .YV\W JVTWHU` -PYLÃ…` L =LU[\YLZ 3PTP[LK OHZ NP]LU ,TWSV`LL :[VJR 6W[PVUZ ,:67Z [V LTWSV`LLZ VM /PUK\Z[HU 4LKPH =LU[\YLZ 3PTP[LK /4=3

A.

Details of these plans are given below:

( 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 ;OL NYHU[ WYPJL VY Z[YPRL WYPJL MVY VW[PVUZ NYHU[LK K\YPUN [OL ÄUHUJPHS `LHY ZOHSS IL ` LHJO WLY VW[PVU

B.

Details of stock options existing during the year ended March 31, 2016 are as given below:

Type of HYYHUNLTLU[

+H[L VM NYHU[

6W[PVUZ -HPY ]HS\L VU [OL NYHU[LK NYHU[ KH[L UVZ `

,TWSV`LL :[VJR 6W[PVUZ

6J[VILY

=LZ[PUN JVUKP[PVUZ

:[HY[Z MYVT [OL KH[L VM SPZ[PUN VM -PYLÃ…` L =LU[\YLZ 3PTP[LK HZ WLY [OL MVSSV^PUN ]LZ[PUN ZJOLK\SL TVU[OZ MYVT [OL KH[L VM NYHU[ TVU[OZ MYVT [OL KH[L VM NYHU[ TVU[OZ MYVT [OL KH[L VM NYHU[ TVU[OZ MYVT [OL KH[L VM NYHU[

>LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ

Financial statements 50-96

Statutory reports 10-49

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

C.

Summary of activity under the plan for the year ended March 31, 2016 and March 31, 2015 are given below

Employee Stock Options

6\[Z[HUKPUN H[ [OL ILNPUUPUN VM [OL `LHY .YHU[LK K\YPUN [OL `LHY -VYMLP[LK K\YPUN [OL `LHY ,_LYJPZLK K\YPUN [OL `LHY ,_WPYLK K\YPUN [OL `LHY 6\[Z[HUKPUN H[ [OL LUK VM [OL `LHY

As at March 31, 2016 WeightedWeightedaverage average exercise price remaining (`) contractual life (in years)

Number of options

Number of options

As at March 31 2015 WeightedWeightedaverage average exercise remaining price contractual life (`) (in years)

> LPNO[LK H]LYHNL MHPY ]HS\L VM [OL VW[PVUZ V\[Z[HUKPUN PZ ` WLY VW[PVU :PUJL UV VW[PVUZ OH]L ILLU L_LYJPZLK K\YPUN [OL WLYPVK [O\Z ^LPNO[LK H]LYHNL ZOHYL WYPJL OHZ UV[ ILLU KPZJSVZLK

+PMMLYLUJL IL[^LLU LTWSV`LL JVTWLUZH[PVU JVZ[ JHSJ\SH[LK \ZPUN [OL MHPY ]HS\L VM Z[VJR VW[PVUZ HUK [OL LTWSV`LL JVTWLUZH[PVU JVZ[ JHSJ\SH[LK VU [OL PU[YPUZPJ ]HS\L VM [OL VW[PVUZ PZ ` 3HJZ JYLKP[ ^OPJO ^PSS YLZ\S[ PU[V WYVÄ[ VM ` 3HJZ 7YL]PV\Z @LHY ` 5PS /V^L]LY [OLZL OH]L UV[ ILLU JOHYNLK IHJR [V [OL *VTWHU` I` [OL .YV\W *VTWHU` OLUJL UV[ HJJV\U[LK MVY I` [OL *VTWHU`

000 7\YZ\HU[ [V W\YJOHZL VM /PUKP )\ZPULZZ JLY[HPU LTWSV`LLZ VM /; 4LKPH 3PTP[LK [OL WHYLU[ JVTWHU` OH]L ILJVTL LTWSV`LLZ VM [OL *VTWHU` VU JVU[PU\LK ZLY]PJL IHZPZ \UKLY /; ,:6: ¶7SHU ( 7SHU ( /; ,:6: ¶ 7SHU ) 7SHU ) HUK /; ,:6: ¶ 7SHU * 7SHU * ;OLZL LTWSV`LLZ JVU[PU\L [V OVSK [OL ,TWSV`LL :[VJR 6W[PVUZ ,:67Z VM WHYLU[ JVTWHU` ^OPJO ^LYL NYHU[LK [V [OLT K\YPUN [OLPY LTWSV`TLU[ ^P[O [OL WHYLU[ JVTWHU`

A.

Details of these plans are given below:

( Z[VJR VW[PVU NP]LZ HU LTWSV`LL [OL YPNO[ [V W\YJOHZL LX\P[` ZOHYLZ VM /; 4LKPH 3PTP[LK H[ H Ä_LK WYPJL ^P[OPU H ZWLJPÄJ WLYPVK VM [PTL

; OL KL[HPSZ VM L_LYJPZL WYPJL MVY Z[VJR VW[PVUZ V\[Z[HUKPUN H[ [OL LUK VM [OL `LHY LUKLK 4HYJO HYL HZ ILSV^! 9HUNL VM L_LYJPZL WYPJLZ

5\TILY VM VW[PVUZ >LPNO[LK H]LYHNL YLTHPUPUN V\[Z[HUKPUN JVU[YHJ[\HS SPML VM VW[PVUZ PU `LHYZ

>LPNO[LK H]LYHNL L_LYJPZL WYPJL `

Plan A `

Plan C `

6 W[PVUZ NYHU[LK HYL L_LYJPZHISL MVY H WLYPVK VM `LHYZ HM[LY [OL ZJOLK\SLK ]LZ[PUN KH[L VM [OL SHZ[ [YHUJOL VM [OL 6W[PVUZ HZ WLY [OL :JOLTL

Hindustan Media Ventures Limited

Annual Report 2015-16

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

B.

Details of Options existing during the year ended March 31, 2016 are as given below: Type of HYYHUNLTLU[

+H[L VM NYHU[

,TWSV`LL :[VJR 6W[PVUZ 7SHU (

1HU\HY`

C.

=LZ[PUN JVUKP[PVUZ

>LPNO[LK H]LYHNL YLTHPUPUN JVU[YHJ[\HS SPML PU `LHYZ VM [OL ZOHYLZ ]LZ[ LHJO `LHY V]LY H WLYPVK VM MV\Y `LHYZ Z[HY[PUN MYVT VUL `LHY HM[LY [OL KH[L VM NYHU[ VU [OL KH[L VM NYHU[ HUK ]LZ[ LHJO `LHY V]LY H WLYPVK VM `LHYZ Z[HY[PUN MYVT [OL KH[L VM NYHU[

Summary of activity under the plans is as given below:

Statutory reports 10-49

,TWSV`LL :[VJR 6J[VILY 6W[PVUZ 7SHU *

6W[PVUZ NYHU[LK -HPY ]HS\L VU [OL UVZ NYHU[ KH[L `)

Plan A

Employee Stock Options

As at March 31, 2016 WeightedWeightedaverage average exercise price remaining (`) contractual life (in years)

Number of options

As at March 31, 2015 WeightedWeightedaverage average exercise price remaining (`) contractual life (in years)

Plan C

Employee Stock Options

6\[Z[HUKPUN H[ [OL ILNPUUPUN 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 6\[Z[HUKPUN H[ [OL LUK VM the year

As at March 31, 2016 WeightedWeightedaverage average exercise price remaining (`) contractual life (in years)

Number of options

Number of options

As at March 31, 2015 WeightedWeightedaverage average exercise price remaining (`) contractual life (in years)

Financial statements 50-96

6\[Z[HUKPUN H[ [OL 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 6\[Z[HUKPUN H[ [OL LUK VM the year

Number of options

Financial Statements

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

>LPNO[LK H]LYHNL MHPY ]HS\L VM [OL VW[PVUZ V\[Z[HUKPUN PZ! 7SHU ( ¶ ` 7SHU * ¶ ` +PMMLYLUJL IL[^LLU LTWSV`LL JVTWLUZH[PVU JVZ[ JHSJ\SH[LK \ZPUN [OL MHPY ]HS\L VM Z[VJR VW[PVUZ HUK [OL LTWSV`LL JVTWLUZH[PVU JVZ[ JHSJ\SH[LK VU [OL PU[YPUZPJ ]HS\L VM [OL VW[PVUZ PZ ` 5PS ^OPJO ^PSS YLZ\S[ PU[V WYVÄ[ of ` 5PS 7YL]PV\Z @LHY ` 5PS /HK [OL MHPY ]HS\L TL[OVK ILLU \ZLK [V HJJV\U[ MVY [OLZL JVZ[Z I` [OL *VTWHU` MVY ]HYPV\Z VW[PVUZ NYHU[LK [V P[»Z LTWSV`LLZ \UKLY HSS [OL HIV]L ZJOLTLZ [OL WYVÄ[ ^V\SK OH]L ILLU OPNOLY I` ` 3HJZ 7YL]PV\Z @LHY OPNOLY I` ` 3HJZ HUK HKQ\Z[LK HUK KPS\[LK ,7: ^V\SK OH]L ILLU ` 7YL]PV\Z @LHY `

38. DETAILS OF PROVISION FOR DOUBTFUL DEBTS & ADVANCES CHARGED TO THE STATEMENT OF PROFIT AND LOSS (` PU 3HJZ

7YV]PZPVU MVY KV\I[M\S KLI[Z HUK HK]HUJLZ JYLH[LK K\YPUN [OL `LHY (KK! )HK +LI[Z HUK (K]HUJLZ ^YP[[LU VMM

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

3LZZ! 7YV]PZPVU MVY KV\I[M\S KLI[Z HUK HK]HUJLZ ^YP[[LU IHJR

*OHYNLK [V [OL Z[H[LTLU[ VM 7YVÄ[ HUK 3VZZ

437.99

167.66

39. CAPITALIZATION OF 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` L_WLUZLZ KPZJSVZLK \UKLY [OL YLZWLJ[P]L UV[LZ HYL UL[ VM HTV\U[Z JHWP[HSPaLK I` [OL JVTWHU` (` PU 3HJZ

9H^ 4H[LYPHS *VUZ\TW[PVU *VUZ\TW[PVU VM Z[VYLZ HUK ZWHYLZ 7YPU[PUN HUK ZLY]PJL JOHYNLZ 7V^LY HUK M\LS 9LU[ ;YH]LSSPUN HUK JVU]L`HUJL 4PZJLSSHULV\Z L_WLUZLZ

For the year ended March 31, 2016

-VY [OL `LHY LUKLK 4HYJO

105.76

30.46

40. 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 ` 3HJZ 7YL]PV\Z @LHY ` 3HJZ

Hindustan Media Ventures Limited

Annual Report 2015-16

Company overview 01-08

NOTES TO FINANCIAL STATEMENTS -VY [OL `LHY LUKLK 4HYJO

I

+L[HPSZ VM HTV\U[ ZWLU[ K\YPUN [OL `LHY LUKLK 4HYJO !

*:9 7YVQLJ[ VY HJ[P]P[` PKLU[PÄLK

P

7YVTV[PUN OLHS[O JHYL PUJS\KPUN WYL]LU[P]L OLHS[OJHYL

PP

7YVTV[PUN OLHS[O JHYL PUJS\KPUN WYL]LU[P]L OLHS[O JHYL 7YVTV[PUN ,K\JH[PVU =VJH[PVUHS [YHPUPUN VM JOPSKYLU ^VTLU HUK TLTILYZ VM \UKLY WYP]PSLNLK :LJ[PVU VM [OL ZVJPL[` 7YV[LJ[PVU VM 5H[PVUHS /LYP[HNL (Y[ *\S[\YL PUJS\KPUN YLZ[VYH[PVU VM I\PSKPUNZ HUK ZP[LZ VM OPZ[VYPJHS PTWVY[HUJL HUK ^VYRZ VM HY[

PPP

P]

]

(TV\U[ ZWLU[ JVU[YPI\[LK VU [OL WYVQLJ[Z VY WYVNYHTZ ` PU SHJZ

(TV\U[ ZWLU[!+PYLJ[ VY [OYV\NO PTWSLTLU[PUN HNLUJ`

+PYLJ[ JVU[YPI\[PVU PU HZZVJPH[PVU ^P[O TLKPJHS WHY[ULY 1H`WLL /VZWP[HSZ ;OYV\NO 4HUVYHTH +L]P )PYSH *OHYP[HISL ;Y\Z[ ;OYV\NO /; -V\UKH[PVU MVY *OHUNL /;--*

;OYV\NO 2HSH .OVKH (ZZVJPH[PVU

9\YHS +L]LSVWTLU[ 7YVQLJ[Z TOTAL

+PYLJ[ *VU[YPI\[PVU 299.96

Statutory reports 10-49

:S 5V

0UJS\KLK PU +VUH[PVUZ *VU[YPI\[PVUZ L_WLUZLZ PU 5V[L

0UJS\KLK PU (K]LY[PZLTLU[ HUK ZHSLZ WYVTV[PVU L_WLUZLZ PU 5V[L

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