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Annual Report 2010-11

2

Financial Statements

Contents
Board of Directors Performance Indicators
• • • • Revenues EBITDA Expense & EBITDA to Total Revenue Revenues from Operations

3 4

Awards of Excellence Letter to Shareholders Financial Statements
• • • • • • • • • • • Directors' Report Corporate Governance Report Management Discussion and Analysis Auditors' Report Balance Sheet Profit and Loss Account Cash Flow Statement Schedules to Balance Sheet and Profit & Loss Account Significant Accounting Policies and Notes to the Accounts Consolidated Financial Statements Section 212 Report

6 8 9

Annual Report 2010-11

2

Financial Statements

Annual Report 2010-11

Board of Directors:
Dr. Prannoy Roy Audit Committee

Chairman and Whole-time Director

Mrs. Radhika Roy
Managing Director

Mr. Amal Ganguli-Chairman Mr. Vijaya Bhaskar Menon Ms. Indrani Roy Mr. K V L Narayan Rao Mr. Pramod Bhasin

Group CEO and Executive Director

Mr. K V L Narayan Rao

Remuneration Committee

Mr. Amal Ganguli Mr. Vijaya Bhaskar Menon Ms. Indrani Roy Mr. Pramod Bhasin

Mr. Vijaya Bhaskar Menon-Chairman Mr. Amal Ganguli Ms. Indrani Roy

Shareholder’s and Investors Grievance Committee
Ms. Indrani Roy-Chairperson Dr. Prannoy Roy Mrs. Radhika Roy Mr. K V L Narayan Rao

ESOP & ESPS Committee
Mrs. Radhika Roy Mr. Vijaya Bhaskar Menon Ms. Indrani Roy

Company Secretary and Compliance Officer
Mr. Anoop Singh Juneja

Auditors

Price Waterhouse Building- 8, 7th & 8th Floor, Tower-B, DLF Cyber City, Gurgaon - 122002, Haryana Phone + 91 124 462 0000 Fax + 91 124 462 0620

Registered Office

207, Okhla Industrial Estate, Phase-III, New Delhi-110020. Phone+91 11 - 4617 6300, 4617 6552 Fax+91 11 - 41735110

Financial of Directors Board Statements

3

Annual Report 2010-11

NEw DELhI TELEVISION LIMITED

ExPENSES AS % TO TOTAL REVENuE

4

Financial Statements Performance Indicators

Annual Report 2010-11 REVENuES FROM OPERATIONS Financial Statements Performance Indicators 5 .

Hindi Ab Dilli Door Nahin (CWG Special) Best Daily Prime Time Newscast-Hindi Vinod Dua Live Best Sports News Show Presenter-Hindi Afshan Anjum Best TV News Reporter-Hindi Parimal Kumar 6 Financial Excellence Awards ofStatements . Red Dot Productions NDTV India News Television Awards (NT Awards) 2010 Best Presented Popular News Show-Hindi: Viraat Samundar Ka Sikander Best Lifestyle & Fashion News Show-Hindi Aman Ka Zaika Best Public Debate Show– Hindi Hum log Best Entertainment Feature. Right & Centre. Sutapa Deb Chhoone Do Aasman.Hindi Ravish Ki Report Best Current Affairs Programme (Home & International)-Hindi Aman Ka Pul Best Sports Feature. K V L Narayan Rao NDTV 24x7 News Television Awards (NT Awards) 2010 Best Public Debate Show-English The Big Fight Best Entertainment Feature-English Sharukhi’s of Vienna (Sutapa Deb) Best News Talk Show-English The Big Fight Best Business News Program-English B-School Budget Best News Documentary (Limited Episodes)-English Secret Lives Best Sports News Show Presenter-English Nikhil Naz Indian News Broadcasting Awards (INBA) 2010 News Television Editor-in-Chief of the Year 2010 Barkha Dutt Best News Show of the Year 2010-English India Decides @ 9 News Show Host of the Year 2010-English Left.Annual Report 2010-11 Awards of Excellence: 2010-2011 Commonwealth Broadcasting Association Awards 2010 One World Media Award for Extending Audience Reach The Greenathon: Smeeta Chakrabarti and Priyanka Kaul.LAADLI Media Awards for Gender Sensitivity Modern Love Stories. Special Projects CBA-IBC Award for Innovative Engineering Yoda Multi Production System in a laptop: Jay Chauhan Roll of Honour Mr.Hindi Jai Jawan (Salman Khan) Best Current Affairs Feature. Nidhi Razdan Best Promo of a Programme/Channel 2010-English The Shared Experience Indian Television Academy Awards (ITA) 2010 Best Mini Series Secret Lives UNFPA.

ndtv.com Financial Excellence Awards of Statements 7 .Annual Report 2010-11 Awards of Excellence: 2010-2011 Indian News Broadcasting Awards. August 2010 Best News Documentary of the Year 2010-Hindi Chhoone Do Aasman News Reporter of the Year 2010-Hindi Neeta Sharma Business News Anchor of the Year 2010-Hindi Mehraj Dubey News Shot Host of the Year 2010-Hindi Nidhi Kulpati NDTV Profit Indian Television Academy Awards (ITA) 2010 Best Quiz Show Mahindra Auto Quotient NDTV Good Times Indian Television Academy Awards 2010 Best Travel Show Ten Things to Do Before You Say Bye Best Interstitial Good Times India Indian Telly Awards 2010 Best Lifestyle & Fashion Show I'm Too Sexy For My Shoes Best Cookery Show Chakh Le India Best Travel Show Royal Reservation Best Videography (Non Fiction) Festival - Celebrating India world Media Festival Gold Awards 2010 Best Documentary Travel The Warrior tribes of Nagaland Best Public Relations Culture Interstitials Good Times India NDTV Convergence News Television Awards (NT Awards) 2010 Best News Channel website www.

. as depressing evidence of the crisis in our system. The digital transformation will include cable-digitization. which is why advertisers are still willing to pay a premium over other channels to advertise on NDTV.. Once again thank you. our polluted rivers. I am also very happy to report that the spirit. India's media. for all your support and encouragement. teamwork and energy among everyone who works at NDTV is at it's highest levels. On these issues. the future is bright for NDTV because a major cost centre will gradually turn into a source of revenues . is going through a period of 'churn'. Brand matters . Prannoy Roy Chairman Mrs.. Many see the media exposes on bribery and corruption . Dr. the near extinct tiger. a huge turnaround. the bottlenecks created by analog cable distribution as well as local cable monopolies are hurting the growth of our media. But there is an alternate viewpoint: this is a necessary step for the country to cleanse itself. we are very happy to report to you that NDTV is India's leading media organisation in pushing for change in India through campaigns on various critical challenges: the environment. We believe. NDTV has been assessed to be number one among all media organizations in India in the list of "Great Places to Work" .. Radhika Roy Managing Director 8 Financial Statements Letter to Shareholders .. marks for sports and support my school to name a few campaigns. The question is will India's media emerge more mature? In the midst of the cacophony of tabloid news channels. NDTV remains India's most credible and balanced news network . and our leaders being sent to jail .. While our media's vibrancy and creativity adds greatly to our democracy. NDTV has run a series of highly successful television campaigns that have led to changes in government policy as well as impacted the national attitude towards our environment. This makes all of us proud as it leads to high quality on air programming. once the dust has settled and credibility is seen as the most important factor in news reporting. NDTV and other leading media companies are set to benefit greatly. In many ways India's media is in transition from analog to digital.. NDTV will be the brand that survives and remains on top. As a result of these developments. In addition to being the most credible news network.. and NDTV is India's leading news television brand. India will emerge from this stronger and more mature. our shareholders..Annual Report 2010-11 Dear Shareholders. 3G mobile and Broadband Wireless Access amongst others. As India moves rapidly towards newer digital forms of distribution.. DTH. like the nation. with your support as our shareholders. tomorrow and for 150 years from now. We are proud that this ability to go beyond narrow short term interests and think about the future of India has made NDTV the channel of choice among the younger generation of viewers in our country. India's dying coastline. Moreover this leads to high distribution costs which hit the bottom line of most companies. We strive to make you proud of an organization that is the leading Indian media brand today.

Annual Report 2010-11 New Delhi Television Limited Financial Statements Letter to Shareholders 9 .

Annual Report 2010-11 10 Financial Statements .

06 – (173.59) – – NIL NIL NIL 87.39 5. (98.93) Consolidated 590.54 143. (15. The Company’s operating loss before tax and ESOP cost was Rs.06 117.2011 31.93) 1.64 (4.2010 31. 2011 are as follows:Year ended Year ended Year ended Year ended 31.03.22 crores and operating loss before depreciation interest and tax of Rs.15 733.30) (Basic) and Rs.64) Consolidated 418. Audited consolidated financial statements for the year ended March 31. in Crores) Standalone Business Income Other Income Total Income Profit/(Loss) before Tax Employee Stock Compensation Expense Provision for Tax / Others* Share of Minority Share in profit of associates Exceptional gain on dilution in stake in a subsidiary Net Profit/(Loss) after Tax Balance brought forward from previous year Addition on account of merger Adjusted against reserve & surplus as per Scheme of Arrangement of merger Appropriation: Transfer to General Reserve Proposed Dividend on Equity Shares Tax on Dividend Profit carried to Balance Sheet *Includes Deferred Tax (Income) / Expense 347.66) – 1. operating loss after tax was Rs.03.96 (169. A detailed review of the Company’s operations has been provided in the Management Discussion and Analysis Report.41) – – NIL NIL NIL (77.21 4.03. Your Directors have pleasure in presenting the Twenty Third Annual Report and Audited Accounts of the Company for the financial year ended March 31.75 76. Financial Statements 11 .56) 1.37 3.57 34. in Crores) (Rs.30) (Diluted).18 NIL NIL NIL (98. which forms part of this Report.2010 (Rs.95) 3.64) crores and earning per share Rs. the Company achieved a turnover of Rs 347.64) (77.63 363. in Crores) (Rs. Dividend For the year under review. Deposits The Company has not accepted/renewed any deposits from the public during the year. (46.38 7.98 (4. 2011. in Crores) (Rs.Annual Report 2010-11 DIRECTORS’ REPORT To The Members. (15.86 – – – (20.45 (18.03.88) 0.61 337.71) 10.07 – 37.2011 31.39 NIL NIL NIL (49.52) (57.38 452.07) crores.04) 1. the Board of Directors do not recommend any dividend.85 (93. (93.89) 87.08 355.56) crores.71 – – – (98.66 (30.42) Standalone 348.22 16. 2011 also form a part of this Report.07 The Year under Review During the year under review. Financial Results The summarized financial results for the year ended March 31.69 (209.

4/- each to Rs. 173.50. However. 2011 has granted general exemption under Section 212 of the Companies Act. the Company set up NDTV Networks Limited. During the year. was also placed under members’ voluntary winding up in March 2011. the eight Indian subsidiaries of the Company viz: NDTV Studios Limited.000/- divided into 8.00. The Company. the Company had initiated steps to simplify the structure of its direct and indirect subsidiaries in India and overseas. waiving the requirement to publish individual balance sheets. an indirect subsidiary of the Company and Astro All Asia Networks Plc. NDTV Convergence Limited.00. UK to an Indian entity of the group. NDTV Delhi Limited. The Company through its subsidiary NDTV Networks Limited purchased the stake held by NDTV Networks Plc in NDTV Labs Limited. namely NDTV Two Holdings Limited and NDTV Three Holdings Limited. to distribute four of its channels NDTV 24x7. a subsidiary of Astro All Asia Networks. NDTV Lifestyle Holdings Pvt. The Netherlands.00. profit & loss accounts. 2010. “Transferor Companies”) merged into the Company (“Transferee Company”) vide order of the Hon’ble High Court of Delhi dated November 8. in order to transfer the Company’s stake in non-news business of the group.000 Equity Shares of Rs. Sweden and NDTV Networks BV.00. In addition to the above. Consequent to the merger the authorized share capital of the Company has increased from Rs. 1956. NDTV India and NDTV Good Times across various distribution platforms. As part of this exercise. The liquidation process for these entities is expected to be concluded shortly and a formal liquidation certificate is awaited.4/ - each.Annual Report 2010-11 Corporate Governance The Company’s Corporate Governance Report is attached and forms a part of this report. NDTV Lifestyle Limited.000 Equity Shares of Rs. Ltd. Government of India. 35. the Company also set up NDTV Lifestyle Holdings Private Limited. 3. the Company entered into significant agreements in respect of following transactions: 1. vide General Circular No. the subsidiaries of the Company in Mauritius. NDTV News 24X7 Limited and NDTV News Limited (collectively. NDTV Networks Limited and NDTV Lifestyle Holdings Private Limited entered into an agreement with South Asia Creative Assets Limited for sale of 49% of the Company’s indirect stake (on a fully diluted basis) in the Lifestyle business of the NDTV Group. NDTV Convergence Limited. which owns and operates the channel ‘NDTV GoodTimes’. NCT of Delhi and Haryana. New Delhi Television Media Limited. Further. w. with the Registrar of Companies. Scheme of Amalgamation During the year..f.32. UAE. The Company During the year. NDTV Lifestyle Holdings Private Limited is the holding company of NDTV Lifestyle Limited. director's reports and auditor's reports of the subsidiaries and other documents otherwise required to be attached to the Company's accounts.e.000 divided into 43. the Company initiated steps with respect to the liquidation of some of its overseas subsidiaries and completed the liquidation of NDTV Middle East Ventures FZ LLC. were also placed under liquidation. NGEN Media Services Private Limited and NDTV Lifestyle Holdings Private Limited. NDTV India Plus Limited. Pursuant to the Company having made necessary filings of the aforesaid orders of the Hon’ble High Court. Financial Statements of the Subsidiary Companies The Ministry of Corporate Affairs. 2010. NDTV Hindu Media Limited. NDTV Four Holdings AB.2/2011 dated February 8. NDTV Networks Limited acquired the entire share capital held by NDTV Networks Plc in NDTV Labs Limited. 2010. NDTV Business Limited. entered into an agreement for the acquisition of 49% stake in the Lifestyle business of the NDTV group by South Asia Creative Assets Limited. its direct subsidiary in India. NDTV Networks Plc. 2. December 17. the merger had taken effect from December 17.75. the UK subsidiary of the Company. Turner General Entertainment Networks India Private Limited and NGEN Media Services Private Limited. Subsidiary Companies and Growth During the year.30. NDTV Profit. held by NDTV Networks Plc. the annual accounts of the subsidiary companies and the related detailed information shall be made available to the members of the holding 12 Financial Statements . The Company entered into a distribution agreement with Star Den.

in partnership with Toyota. The ESOP 2004 as approved by the shareholders on September 19. the scheme was formulated in accordance with the SEBI (ESOS & ESPS) Guidelines. out of 17. upon receipt of a requisition.64. These awards were aimed at encouraging. representing one share for each option upon exercise. Financial Statements 13 .46. wildlife champions from across the country came forward to extend a hand in saving the national animal. for promoting environmental awareness. The winners of India’s first national environment awards- ‘Greenies Eco Awards’ were announced at an award ceremony in New Delhi graced by the President of India.540 (Twenty one lakhs forty six thousand five hundred and forty) equity shares to the eligible employees of the Company by the ESOP & ESPS Committee at an exercise price of Rs. Greenathon. “THE NDTV TOYOTA GREENATHON” is India’s only 24-hour live event to be telecast across all NDTV channels. 4/- each. The scheme was approved by the shareholders on March 10.Annual Report 2010-11 and subsidiary companies seeking such information at any time.‘Greenies Eco Awards’ In its endeavor to create environmental awareness. highlighted the key issues of tiger conservation. for two consecutive years. Pratibha Devisingh Patil. 1999 are annexed and form part of this Report. from any shareholder. Chief Ministers from different states of India.01. 2009. Amitabh Bachchan. 2005 provides for grant of 4057 thousand options to employees of the Company by the ESOP Committee at an exercise price of Rs. During the year.925 had exercised their right to surrender. The details as per the requirements of SEBI (ESOS & ESPS) Guidelines. During the year.‘Save Our Tiger’ Taking forward the campaign “Save Our Tigers”. The nominations for 'NDTV-Toyota Greenies Eco Awards’ were selected from all over the world. the Indian tiger. Further. NDTV in association with Aircel embarked upon a unique initiative to support its campaign “Save Our Tiger” by telecasting a 12-hour Telethon on its network channels. Tigerthon . the Company had amended the ESOP 2004 Scheme incorporating a clause giving the employees a right to surrender the options. Accordingly. the Company has allotted 11. The details as per the requirements of SEBI (ESOS & ESPS) Guidelines. The annual accounts of the subsidiary companies shall also be kept open for inspection by any member in its registered office and those of the respective subsidiary companies. employees holding options equivalent to 18. 4/- each. in its first and second years. During the campaign. The campaign ambassador. Employee Stock Purchase Scheme 2009 (ESPS -2009) The Company had instituted the Employee Stock Purchase Scheme 2009 (the “Scheme”) for employees of the Company and its subsidiaries by granting shares thereunder.41. Smt. Events were organized throughout the country as a part of the Greenathon campaign like Mural Wall Painting and planting of tree saplings etc.435 equity shares) to the eligible employees. through a postal ballot and provides for allotment of 21. 2009. 1999. Sh.740 equity shares (previous year 17. announced the ‘Greenies Eco Awards’. companies and individuals helping to raise funds and lighting up several villages across India. acknowledging and awarding the champions of the earth for environmental leadership. Significant Events and Agreements GREENAThON . the Company has been organizing a nationwide campaign “NDTV Toyota Greenathon”. 1999 are annexed to and form part of this Report. Consequently. received an overwhelming response from Bollywood stars. The Company shall furnish a hard copy of details of accounts of subsidiary companies. The maximum tenure of these options granted is 7 years from the date of grant. NDTV. Employee Stock Option Plan (ESOP-2004) The Company had instituted the Employee Stock Option Plan - ESOP 2004 to grant equity-based incentives to all its eligible employees.425 equity shares issued on March 31. It showcased examples of excellence and best practices in finding innovative solutions to environmental challenges.

000 students across the country.Annual Report 2010-11 As part of the campaign a special show was aired to engage all the key stakeholders and tiger experts to voice their opinion on what needs to be done to protect the tigers. for the remaining period of his appointment i. cricketing legend and campaign ambassador. Kapil Sibal. The campaign also involved on ground events and airing of documentaries promoting the cause of protecting the tiger. As part of a special launch event. K V L Narayan Rao. NDTV Toyota Etios Save India’s Coast is an initiative to raise awareness regarding the serious threat to the Indian coastline. w. Ms. Sh. Amal Ganguli. Sanjay Raut. 2011. at the ensuing Annual General Meeting and are eligible to be re-elected. Group CEO and Executive Director. For this NDTV has been joined by a dedicated partnership pledge from the Wildlife Conservation Trust (WCT). has approved the revision in remuneration of Mr. ‘Support My School’ campaign In its continued efforts to help build sustainable communities.e. As part of the campaign. galvanize the local population and raise national awareness. it is hereby confirmed: 1. Director’s Responsibility Statement Pursuant to the requirement under Section 217(2AA) of the Companies Act. April 1. Mr. Sachin Tendulkar unveiled the campaign logo. A special panel including environmentalists. active and happy schools in rural and semi-urban towns by improving basic amenities and subsequently generating monetary resources. that the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the year under review. 3. 2. 2013. NDTV reporters travelled the length of India’s coastline to bring to light the ground reality. The Board. NDTV Campaign to Save India’s Coasts NDTV has started a new campaign to ‘Save India’s Coasts’.f. actor. K V L Narayan Rao and Mr. Charities Aid Foundation (CAF) and Sulabh International embarked upon a unique initiative . The campaign aimed to develop over 100 healthy. are liable to retire by rotation. politicians and top business leaders from around the world gathered to discuss free markets and the global economic recovery. which forms part of this Report. that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in 14 Financial Statements . Ms. Union Minister. June 10. NDTV and Coca-Cola India in association with their NGO partners. Directors. The revision in remuneration is subject to the approval of the members of the Company at the ensuing Annual General Meeting and Central Government.‘Support My School’ campaign. where world dignitaries. Raveena Tandon. that in the preparation of the annual accounts for the financial year ended March 31. 2011. Further details of the significant events and agreements appear in the Management Discussion and Analysis Report. politicians and activists discussed the serious threat that the Indian coastline is under from unplanned development. Directors In accordance with the provisions of the Articles of Association of the Company.e. 1956 with respect to the Directors’ Responsibility Statement. economists. held at Davos during January. UN-Habitat. hence benefitting over 50. Mr. on the recommendation of remuneration committee. Priya Dutt and Mr. The 12-hour Save Our Tigers Telethon raised Rs 5 crore to set up tiger task forces in key reserves across the country. Members of the Parliament. world Economic Forum – Davos The Company extensively covered 2011 World Economic Forum. 2011 the applicable accounting standards have been followed and there are no material departures. if necessary. NDTV’s campaign to save our tigers received an overwhelming response with people from across the country. Some of the other eminent personalities present to lend their support to the campaign included.

15. travelling. 28. 2011 on a ‘going concern’ basis. 1975 as amended. Foreign Exchange Earnings and Outgo Financial Statements 15 . that the Directors have prepared the accounts for the financial year ended March 31. Acknowledgements Your Directors express their grateful thanks and appreciation for the assistance and cooperation received from the investors. During the year. in the opinion of Directors. 2011 Dr. Conservation of Energy Your Company is not an energy intensive unit. For and on behalf of the Board Place : New Delhi Date : May 3. 11.62 crores). They have confirmed that their re-appointment as Auditors of the Company.61 crores (previous year Rs. hold office till the conclusion of the ensuing Annual General Meeting of the Company and are eligible for re-appointment. Any shareholder interested in obtaining the copy of this annexure may write to the Company Secretary at the registered office of the Company. Auditors The Auditors of the Company. Prannoy Roy Chairman B. Chartered Accountants. the Company had foreign exchange earnings of Rs. software expenses. The foreign exchange outgo on subscription. read with the Companies (Particulars of Employees) Rules. 4 of the Auditors Report to the members. The Director’s Report is being sent to all the shareholders excluding this annexure. the following information is provided: A. 4. 1988. consultancy. banks and business associates during the year under review. With reference to point no. shareholders. 1956.83 crores (previous year Rs. website expenses.63 crores). the names and other particulars of the Employees are set out in the annexure forming part of this report. Outgo on account of capital goods and others was Rs. 4. Technology Absorption and Foreign Exchange Earnings and Outgo Pursuant to Section 217(1)(e) of the Companies Act. 1956 read with the Companies (Disclosures of Particulars in the Report of the Board of Directors) Rules. 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. The observations of the Auditors in their report read together with the Notes on Accounts are self explanatory and therefore. would be in accordance with the limits specified under Section 224(1B) of the Companies Act. uplinking and news service charges. M/s. Personnel As required by the provisions of Section 217(2A) of the Companies Act.Annual Report 2010-11 accordance with the provisions of the Companies Act. Price Waterhouse. Research and Development C. Your Directors also wish to place on record their appreciation for the excellent performance and contribution of the employees to the Company’s progress during the year under review. 1956. 2. if made. However regular efforts are made to conserve energy. repairs and maintenance and other expenses amounted to Rs.72 crores). the Directors state that the Company is in the process of obtaining the approval of the Central Government for taking its approval in respect of the managerial remuneration of the Directors.85 crores (previous year Rs. The Company continuously makes efforts towards research and developmental activities whereby it can improve the quality and productivity of its programmes. do not call for any further explanation. 20. Conservation of Energy.

The maximum tenure of these options granted is 7 years from the date of grant. Pursuant to the same. employees holding options equivalent to 18. 7. The ESOP 2004. Diluted Earning Per Share (EPS) pursuant to Rs. There is no employee who has been granted during during one year. 5.) (b) Options surrendered Variation of terms of options NIL NIL No variation in terms of options during the year Money realized by exercise of Options during the NIL year (Rs. are set below: S.925 had exercised their right to surrender. 10. 4/- per share NIL NIL Total number of shares arising as a result of exercise NIL of Options during the year (No. through postal ballot to amend the ESOP 2004 scheme for incorporating a clause giving the employees a right to surrender the options. 6. 2. 4 each. as amended. on March 10. equal to or exceeding 1% of the one year. 8. 2011) (No.) Employee wise details of Options Granted to: (a) Senior Management Personnel During the year under review no Options were granted to the senior management personnel of the Company. and conversions) of the Company at the time of grant 11. Options granted during the year (No. equal to or exceeding 1% of the issued issued capital (excluding outstanding warrants capital. 6. approved by the shareholders on September 19. (15. 3. Disclosures in compliance with Clause 12 of the SEBI (ESOS & ESPS) Guidelines. 9.) (a) Options lapsed/forfeited during the year (No.) Details NIL Exercise price Rs.) The pricing formula Options vested (as of March 31. representing one share for each option upon exercise.01. (b) Any other employee who receives a grant in any No employee is in receipt of the grant in any one one year of Option amounting to 5% or more of year of Option amounting to 5% or more of Option Option granted during that year granted during the year. (c) Identified employees who were granted Options. N. The shareholders of the Company had approved the resolution.) Options exercised during the year (No. NIL 2011) (No. 4. Particulars 1. 1999. 2005 provides for grant of 4.057 thousand options to employees of the Company by the ESOP Committee at an exercise price of Rs. 2009.) Total number of Options in force (as of March 31.Annual Report 2010-11 EMPLOYEE STOCK OPTION PLAN (ESOP-2004) The Company instituted the Employee Stock Option Plan - ESOP 2004 to grant equity-based incentives to all its eligible employees.30) issue of shares on exercise of Option calculated in accordance with Accounting Standard (AS) 20 ‘Earning Per Share’ 16 Financial Statements .

Annual Report 2010-11 S. 1. 2006 April 20. 2004 and September 19.14 150. 4 209.66 232. 4 Rs. 13.79 June 30. 2004 and resolution(s) passed at the Annual General Meeting(s) held on September 22. 2007 14. Particulars 12. Accordingly.35 167. 4 Rs. 19. 2006 Oct 17. If the Employee Compensation Cost for the ESOP had been determined in a manner consistent with the Fair Value approach. and the resolution passed at the Extra - ordinary General Meeting held on January 29. 2005 April 20.08 352.) Rs. Financial Statements 17 . 4 Rs. there of the Company would be no impact on the Loss for the year and the Basic and Diluted EPS of the Company. Where the Company has calculated the Employee Compensation cost using the intrinsic value of Stock Options. Description of the method and significant assumptions Not Applicable used during the year to estimate the fair value of Options. 1999. 4 Rs. the Stock Option Compensation The impact of this difference on profits and on EPS Expenses would remain the same. Weighted average exercise prices and Weighted Grant Date average fair value of Options for options whose exercise price either equals or exceeds or is less than the market price of the stock Exercise Price weighted average fair value of options as at the grant date (Rs. 4 Rs. 4 Rs.42 250. 2006 July 1. 4 Rs. Details The Company has used intrinsic value method for calculating the Employee Compensation Cost with respect to the Stock Options. 2005 Dec. N. 2005 and the shareholders of the Company have approved the resolution on March 10.21 349. 2007 Oct 17. 2005 Sept.13 176.63 252. including the following weighted average information: Risk Free interest rate (%) Expected life Expected volatility (%) Expected Dividends The price of the underlying share in market at the time of option grant The Company has received a certificate from the Auditors of the Company that ESOP 2004 Scheme has been implemented in accordance with the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines. 2006 Aug 1. 2009 through postal ballot to amend the ESOP 2004 scheme for incorporating a clause giving the employees a right to surrender the options. the difference between the employee compensation cost so computed and the employee compensation cost that shall have been recognized if it had used the fair value of Options. 4 Rs.

) Mr. through postal ballot.46. The Scheme was approved by the shareholders of the Company. During the year.Annual Report 2010-11 EMPLOYEE STOCK PuRChASE SChEME (ESPS-2009) The Company had instituted the Employee Stock Purchase Scheme 2009 (the “Scheme”) for employees of the Company and its subsidiaries by granting shares thereunder. 4.700 Total (c) Identified employees who were issued shares during any one year equal to or exceeding 1% of the issued capital of the Company at the time of issuance. 2009. 2009 through postal ballot.425 Equity Shares Scheme The price at which such shares are issued Employee - wise details of the shares issued/alloted to. as amended.16. Exercise price Rs. on March 10. 1999. N. and the resolution passed by the shareholders of the Company on March 10. 2009. Diluted Earning Per Share (EPS) pursuant to Rs.500 Ms. 1999. the Scheme was formulated in accordance with the SEBI (ESOS & ESPS) Guidelines. except the following: Director / Employee(s) Equity Shares issued / Name allotted during the year (2009 – 10) (no. The Scheme provides for issue and allotment of not exceeding 21.425 Equity Shares issued on March 31. Accordingly.64. (a) Senior Managerial Personnel.37. PARTICuLARS 1. 5. are set below: S.200 There is no employee who has been issued equity shares during one year equal to or exceeding1% of the issued capital of the Company at the time of issuance.435 Equity Shares) to the eligible employees. out of 17.740 Equity Shares (previous year 17.30) issuance of shares under ESPS Consideration received against the issuance shares of Rs. 2.540 Equity Shares to the eligible employees of the Company by the ESOP & ESPS Committee at an exercise price of Rs. 2. (15. Smeeta Chakrabarti 1.64. 18 Financial Statements . 4 per share The Company has received a certificate from the Auditors of the Company that ESPS 2009 Scheme has been implemented in accordance with the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines. 1999.54. Disclosures in compliance with Clause 19 of the SEBI (ESOS & ESPS) Guidelines.41. DETAILS The details of the number of shares issued in ESPS 17. 4/- each. 4/- per share (b) Any other employee who is issued / allotted No employee is in receipt of the issued / allotted of shares in any one year amounting to 5% or equity shares in any one year amounting to 5% or more issued / allotted during that year more equity shares issued / allotted during that year. 3. the Company allotted 11. During the year under review Nil equity shares were issued /alloted to the senior management personnel of the Company. K V L Narayan Rao 1.

Annual Report 2010-11 Corporate Governance Financial Statements 19 .

Annual Report 2010-11 20 Financial Statements .

In our opinion and to the best of our information and according to the explanations given to us. issued by the Institute of Chartered Accountants of India and was limited to procedures and implementation thereof. The compliance of conditions of Corporate Governance is the responsibility of the Company's management.Annual Report 2010-11 Auditors’ Certificate regarding compliance of conditions of Corporate Governance To the Members of New Delhi Television Limited We have examined the compliance of conditions of Corporate Governance by New Delhi Television Limited. For Price Waterhouse Firm Registeration No. as stipulated in Clause 49 of the Listing Agreement(s) of the said Company with Stock Exchange(s) in India. We state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company. 2011. 2011 Financial Statements 21 . - F 084451 Place of Signing : New Delhi Date : May 3. Our examination was carried out in accordance with the Guidance Note on Certification of Corporate Governance (as stipulated in Clause 49 of the Listing Agreement). - FRN 007568S Chartered Accountants Anupam Dhawan Partner Membership No. we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned Listing Agreement(s). adopted by the Company for ensuring the compliance of the conditions of Corporate Governance. for the year ended 31st March. It is neither an audit nor an expression of opinion on the financial statements of the Company.

** Mrs. Radhika Roy.Annual Report 2010-11 CORPORATE GOVERNANCE REPORT Company’s Philosophy on Corporate Governance NDTV is respected in the Industry for its credibility and the professional style of management. 2010. Amal Ganguli Ms. December 27. memberships and chairmanship of committees as on March 31. Prannoy Roy Mrs. with a maximum time gap of four months between any two board meetings. 2010 and February11. 2011. 2011. 2010. The Company is committed to the principles and features of corporate governance and has consistently followed high standards in all its activities and processes. Vijaya Bhaskar Menon Mr. The Board meets at least four times in a year and more frequently. emphasis on quality and a caring spirit. 2010. August 27. Meetings & Attendance The Board met six times during the financial year under review on - April 30. The Composition of the Board and the number of directorships. are given below: Name of Directors Position Directorships held as on March 31. if deemed necessary. Chairman of the Company.The maximum time gap between any two Board Meetings was less than four months. finance and other key functional areas. Radhika Roy Mr. August 3. The corporate governance philosophy of the Company is based on integrity. 2010. K V L Narayan Rao Mr. *** In computation of the number of committees. the committees other than the Audit Committee and the Shareholder’s and Investors Grievance Committee have not been taken into account. The foreign Companies and Compaines under Section 25 of the Companies Act. 2011* 11 10 9 15 3 2 5 Committee membership in all Companies*** 5 5 5 11 2 2 2 Chairmanship in Committees where they are Members*** 2 2 5 1 - Dr. respect for the law and compliance therewith. All the four non-executive independent directors are eminent professionals having experience in business. Pramod Bhasin Chairman and Whole-time Director (Promoter)** Managing Director (Promoter)** Group CEO and Executive Director Non-Executive Independent Director Non-Executive Independent Director Non-Executive Independent Director Non-Executive Independent Director * Includes directorships in all Private and Public Indian Companies. transparency. Prannoy Roy. 1956 have not been taken into account. Indrani Roy Mr. 22 Financial Statements . The Company strongly believes that corporate governance is a pre-requisite for enhancing long-term shareholders’ value and considers it to be an internally driven need that does not merely need to be enforced externally. The Board of Directors of the Company is a sound mix of executive and independent directors to maintain the independence of the Board and to separate the Board function of governance and management. Managing Director of the Company is the wife of Dr. Board of Directors The present strength of the Board is seven. ethical values. and four non-executive independent directors. November 2. comprising three executive directors including the Chairman.

2011. Review of statement of significant related party transactions. Vijaya Bhaskar Menon Ms. Pramod Bhasin* Board Meetings held during the year 6 6 6 6 6 6 6 Board meetings attended 6 6 6 3 5 5 5 whether attended last Annual General Meeting (AGM) Yes Yes Yes Yes Yes No No * Appointed as Director w. the appointment. Considering and approving changes. Audit Committee The primary responsibility of the Audit Committee is to monitor and provide effective supervision of the management’s financial reporting process. The Audit Committee of the Board of Directors. is made up of the following directors: Name of the Directors Mr. about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern. in accounting policies and practices. The terms of reference stipulated by the Board to the Audit Committee are as per Clause 49 of the Listing Agreement and Section 292A of the Companies Act. submitted by management. re-appointment or removal of the statutory auditors and their remuneration.e. Recommending to the Board. 1956. Reviewing the adequacy of the internal audit function and its operation. if any. April 30..e. Reviewing. the whole-time Finance Director or any other person heading the finance function or discharging that function) after assessing the qualifications.Annual Report 2010-11 The presence of Directors at the Board meetings and last AGM was as follows: Name of the Directors Dr. Indrani Roy Mr. Radhika Roy Mr. experience & background. Discussion with statutory auditors before the audit commences. the quarterly and annual financial statements before submission to the Board for approval. Pramod Bhasin Mr. The functions of the Audit Committee include the following: – – – – – – – – – – – Overseeing the Company’s financial reporting process. Approval of appointment of CFO (i. Prannoy Roy Mrs. to review the quality and reliability of the information used by the Board. with the management. Overseeing compliance with listing and other legal requirements relating to financial statements. K V L Narayan Rao Mr. of the candidate. Amal Ganguli Mr. etc. as of March 31.f. The details of directorships /committee memberships are based on the disclosures received from the directors. 2010 None of the directors is a member of more than ten committees or acts as the chairman of more than five committees in all Public companies in which they are directors. Amal Ganguli Ms. Reviewing the findings of any internal investigations by the internal auditors. Vijaya Bhaskar Menon Mr. besides other terms formulated by the Board. K V L Narayan Rao Category Non-Executive Independent Director Non-Executive Independent Director Non-Executive Independent Director Non-Executive Independent Director Group CEO and Executive Director Position Chairman Member Member Member Member Financial Statements 23 . Review of Management Discussion and Analysis of financial condition and results of operations. Indrani Roy Mr. The Audit Committee also focuses on the adequacy and appropriateness of the internal controls of the Company.

13. directors fees and ex-gratia aggregating Rs. Company Secretary is the Secretary to the Committee.957 Perquisites 2. Pramod Bhasin* Mr.509 thousand (previous year received payment on account of dilution on conversion of CCPS of a subsidiary. based on review of achievements on a regular basis and is in consonance with the existing industry practice.22.404 57.98. 2010 and February 8. 2011: Name of the Director Mr.26. Prannoy Roy Mrs.079 2. Anoop Singh Juneja. of Committee meetings attended 4 4 4 2 4 * Appointed as member of Audit Committee at the Board meeting dated April 30. 2011. 2010. Indrani Roy Mr. Directors’ have received directors fees aggregating Rs. no meeting of the Remuneration Committee was held.303 thousand paid to Director that exceeds the minimum remuneration payable due to inadequacy of profits.11.13.22. Indrani Roy Category Non-Executive Independent Director Non-Executive Independent Director Non-Executive Independent Director Position Chairman Member Member Mr. 24 Financial Statements . Anoop Singh Juneja.359 *Salary includes allowances and contribution towards provident fund.99.149 1. Amal Ganguli Mr. The remuneration paid to executive directors during the year is as follows: Name of the Director Dr.72. K V L Narayan Rao Total Salary* 57. remuneration of the previous year amounting to Rs. subject to the Central Government’s approval.98. 2010 CEO/CFO Certification The Company is fully cognizant of the need to maintain adequate internal control to protect its assets and interests and for integrity and fairness in financial reporting and is committed to laying down and enforcing such controls of appropriate systems and procedures. Vijaya Bhaskar Menon Mr.236 2. Four Meetings of the Audit Committee of the Company were held during the year on April 30. Amal Ganguli Ms. Company Secretary acts as Secretary to the Committee.640 80.288 thousand) from its overseas subsidiaries. November 2. During the year under review.Annual Report 2010-11 Mr. Remuneration Policy The remuneration policy of the Company is aimed at rewarding performance. Towards this the CEO and the CFO have certified to the Board by placing a certificate on the internal control related to the financial reporting process during the year ended March 31. Remuneration Committee The Remuneration Committee of the Board of Directors reviews.402 (Amount in Rs.930 5. In addition.99. 8.236 1.01.11.) Total 60. Vijaya Bhaskar Menon Ms.95. 2010. 2011. recommends and approves the matters connected with fixation and periodic revision of the remuneration payable to the Executive Directors. 61. August 2. Radhika Roy Mr. The attendance of Committee Members at the Audit Committee meetings were as follows: Name of the Director Mr. K V L Narayan Rao No. Further.640 60. The Remuneration Committee is made up of the following Directors as on March 31.404 79. 13.

Mr.000 Equity shares of the Company held by the non-executive directors as on March 31.50. K V L Narayan Rao Category Non-Executive Independent Director Chairman & Whole-time Director Managing Director Group CEO and Executive Director Position Chairperson Member Member Member Mr.80.00. 2011. During the year seventeen meetings of the Shareholders and Investors’ Grievance Committee were held. is as under: (Amount in Rs. 2011 were 14 and all the complaints were resolved to the satisfaction of the shareholders.80.000 5. The Committee approves. Amal Ganguli Ms. There were no pending complaints as on March 31. Prannoy Roy Mrs. The number of shareholders complaints received during the financial year ended March 31. 25.000 – 5. non-receipt of declared dividend and all such acts. Accordingly. in accordance with the provisions of law and the operating needs of the Company and as approved by the shareholders. Amal Ganguli Ms. The Shareholders and Investors Grievance Committee ensures that there is timely and satisfactory redressal of all investor queries.80. The Committee also oversees the performance of the Registrar and Share Transfer Agent and recommends measures for overall improvement in the quality of service to investors. rematerialisation. 2011 are as follows: Name of the Director Mr. Pramod Bhasin Total Sitting Fee 2. Indrani Roy Mr. Indrani Roy Mr.000 1. The details of the sitting fees paid to the non-executive directors during the year. Indrani Roy Dr. things or deeds incidental thereto. 2010. Vijaya Bhaskar Menon Mr. non. the Company made an application to the Central Government for payment of remuneration to the non-executive directors for the year ended March 31.20. as shown below: (Amount in Rs. 2011: Name of the Director Ms.) 1.000 1. 2011. 2010. 2. Company Secretary is the Secretary to the Committee and the Compliance officer of the Company.receipt of balance sheet.Annual Report 2010-11 Non-executive directors are paid sitting fees for attending meetings of the Board and any Committee thereof. transposition of securities. redresses shareholder’s grievances like transfer of shares. Financial Statements 25 . Amal Ganguli Ms. Anoop Singh Juneja. Pramod Bhasin Category Non-Executive Independent Director Non-Executive Independent Director Non-Executive Independent Director Non-Executive Independent Director Number of shares held Nil Nil Nil Nil Shareholders and Investors Grievance Committee The Shareholders and Investors Grievance Committee comprised the following directors as on March 31. Radhika Roy Mr. independent directors were paid remuneration subsequently on January 17. 3.000 7. Vijaya Bhaskar Menon Mr. The application was approved by the Central Government on October 29. oversees and reviews all matters connected with share transfers.50. Vijaya Bhaskar Menon : : : 12. for a sum of Rs.) Name of the Director Mr.000 In view of the duties and responsibilities undertaken by them.00 lacs as per details below. Indrani Roy Mr.

and to full and accurate disclosure in compliance with applicable laws. Okhla Industrial Estate.ndtv. During the year 2010-11. Venue Siri Fort Auditorium. All the Board members and senior management personnel have affirmed compliance with the code of conduct for the current year. rules and regulations. The Company has not entered into any transaction of a material nature with its promoters. Declaration regarding compliance with the Code of Conduct of the Company by Board members and senior management personnel:I hereby confirm that the Company has obtained from all the members of the Board and senior management personnel of the Company. Basement. The code lays down guidelines.30 p. (b) Related Party Transactions 26 Financial Statements . 3.Annual Report 2010-11 Code of Conduct The Company in pursuance of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations. rules & regulations. along with the annual report of the Company is dispatched to the shareholders well in time to enable them to participate in the meeting. The code of conduct is also displayed on the website of the Company www. Disclosures (a) Companies within the same Group Dr. Place : New Delhi Date : May 3. are members of the same group within the meaning of the Monopolies and Restrictive Trade Practices Act 1969.m. no penalties/ strictures were imposed on the Company by the Stock Exchanges or SEBI or any statutory authority on any matter related to the capital market. their relatives or subsidiaries of the Company etc. SEBI and other statutory authorities on all matters relating to the capital market. The Company has also laid down a Code of Conduct for Board members and senior management personnel.m. New Delhi Eleven (11) special resolutions were passed by show of hands by the shareholders present at the last three Annual General Meetings. RRPR Holding Private Limited and NDTV Investments Private Limited. 2011 K V L Narayan Rao Group CEO and Executive Director General Body Meetings The Annual General Meeting (AGM) is the principal forum for interaction between the management and the shareholders. The Chairman of the Audit Committee was present at all the above AGMs. 1992 and the amendments thereto has formulated/revised a Code of Conduct for prevention of Insider Trading.com. Subroto Park. Greater Kailash-I. 2010 Time 11:30 a. New Delhi Air Force Auditorium. The location. affirmation that they have complied with the Code of Conduct of the Company during the financial year 2010-11. which advise on procedures to be followed and disclosures to be made while dealing with shares of the Company and indicate the consequences of non-compliance. and the highest standards of business ethics. The Company is committed to conducting its business in accordance with applicable laws. New Delhi. August Kranti Marg. Subroto Park. Mrs.m. directors or the management. (c) Compliances by the Company The Company is in compliance with the various requirements of the Stock Exchanges. Phase-III. date and time of the Annual General Meetings of the Company held during the last three years are given below: Year 2007-08 2008-09 2009-10 Date September 22. respectively. the two named companies having their registered addresses at E-186. that may have any potential conflict with the interests of the Company. 2008 August 20. The Annual General Meetings are held at Delhi where the registered office of the Company is situated. Radhika Roy. New Delhi and 207. 3. Prannoy Roy.30 p. New Delhi Air Force Auditorium. The Company ensures that the notice of the AGM. 2009 August 4.

Means of Communication (a) The quarterly results of the Company are published in Financial Express/Business Standard (English dailies) and in Jansatta/Business Standard (Hindi dailies) and are also available on the Company’s website www. 2012 Book Closure The book closure period is from Thursday.ndtv. contact information of the designated officials handling investor grievances. details of its business. financial information.m Venue: Air Force Auditorium. the Company maintains a functional website www. compliance with corporate governance. (b) National Stock Exchange of India Limited (NSE) Exchange Plaza. August 3. shareholding pattern. 2011 at 3. 2011 1st week of February. 2011 March 31. Date and Time: Wednesday the 3rd day of August.g.com containing basic information about the Company e.New Delhi-110010 Financial Calendar The next financial year of the Company is April 1.Annual Report 2010-11 (d) Non-Mandatory requirements The relevant clause states that the non- mandatory recommendations may be implemented as per the discretion of the Company.com. (b) As required by Clause 54 of the Listing Agreement. Dalal Street Mumbai-400001. 2011 (both days inclusive). 2011 to Wednesday. Listing on Stock Exchanges and the Stock Code allotted: The Equity Shares of the Company are listed on the following Stock Exchanges: (a) Bombay Stock Exchange Limited (BSE) Phiroze Jeejeebhoy Towers. GENERAL ShAREhOLDER INFORMATION Annual General Meeting (AGM) The 23rd Annual General Meeting of the Company will be held on: Day. July 28. The Company has adopted the non-mandatory recommendation as regards the Remuneration Committee. Bandra (E). 2012 (year ending) Time period last week of July 2011 4th week of October. Subroto Park. 2011 September 30. Mumbai-400051. The quarterly results will be adopted by the Board of Directors in accordance with the following schedule: For the Quarter ending June 30. 2012 1st week of May.ndtv. 2012. Dhaula Kuan.30 p. Bandra Kurla Complex. 2011 to March 31. The Company also ensures that the contents of the said website are updated at any given point of time. The Stock Codes allotted by these Stock Exchanges are as follows: Name Bombay Stock Exchange Limited National Stock Exchange of India Limited Demat ISIN Numbers in NSDL and CDSL Code 532529 NDTV EQ INE155G01029 Financial Statements 27 . 2011 - (results for the quarter as well as Half year) December 31.

per share) Month Bombay Stock Exchange Limited (In Rs.55 130. Market Price Data (Face value of Rs.15 100.35 101.45 76.20 85.00 109.40 123.40 115.10 65.85 114.90 117.30 90.20 96.25 107.50 Low 117.00 90.00 90.45 95. 4/.Annual Report 2010-11 The listing fee for the financial year 2011-12 has been paid to Bombay Stock Exchange Limited and National Stock Exchange of India Limited.00 115.00 National Stock Exchange of India Limited (In Rs.85 116.10 62.80 78.00 73.00 119.80 109.60 130.10 83.30 102.00 65.60 78.00 90.25 73.25 102.00 91.00 102. per share) high 131.00 65.90 77.65 98. per share) high April 2010 May 2010 June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 131.70 115. The Company has also paid annual custodian fee for the year 2011-12 to NSDL & CDSL.45 95.50 121.15 80.20 107.25 Performance in comparison to BSE Sensex 28 Financial Statements .00 79.30 119.95 Low 115.

00 0.00 0.00 0.00 0. of outstanding As a % of total no.Annual Report 2010-11 Shareholding Pattern The shareholding pattern of the Company as on March 31. of partly paid-up shares As a % of total no.00 0.00 32. assuming full conversion of warrants and convertible securities Category Category of code shareholder NOT APPLICABLE No.00 0 0 0 0 0 0 0 0 0 0 0 0.00 29. of securities outstanding convertible shares of the Company securities assuming full conversion of the convertible securities 0 0 0 0 0 0 0 0 0 No.18 0. of paid-up shares shares of the Company 0 0 0 0 0 0 0 0 0 As a % of total no.00 0.00 0.00 0.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 29.00 0.00 61.00 Financial Statements 29 .00 61. of warrants shares of the Company. of No.00 0. of warrants As a % of total no.18 0. of As a % of total no.00 0. of partly As a % of total no.45 0. 2011 is as under: NAME OF ThE COMPANY : NEw DELhI TELEVISION LIMITED SCRIP CODE : 532529-NDTV NAME OF ThE SCRIP : NEw DELhI TELEVISION LIMITED CLASS OF SECuRITY : EQuITY Partly paid-up shares Held by promoter/promoter group Held by public Total Outstanding convertible securities: Held by promoter/promoter group Held by public Total warrants: Held by promoter/promoter group Held by public Total Total paid-up capital of the Company.00 0.00 0. assuming full conversion of warrants 0 0 0 0 0 0 0 0 0 Number of shareholders Total number of shares Number of shares held in dematerialized form Total shareholding as a percentage of total number of shares Shares pledged or otherwise encumbered (I) (A) (1) (a) (b) (c) (d) (e) (2) (a) (b) (c) (d) (II) PROMOTER AND PROMOTER GROuP INDIAN Individuals /Hindu Undivided Family Central Government/State Government(s) Bodies Corporate Financial Institutions / Banks Any Other (Specify) Sub-Total (A) (1) : FOREIGN Individuals (Non Resident Individuals/Foreign Individuals) Bodies Corporate Institutions Any Other (Specify) Sub-Total (A)(2) : (III) (IV) (V) As a As a Number As a percentage percentage of shares percentage of (A+B) of (A+B+C) (Ix)=(VIII)/ (IV)*100 (VI) (VII) (VIII) (Ix) 2 0 1 0 0 3 0 0 0 0 0 20801240 0 18813928 0 0 39615168 0 0 0 0 0 20800831 0 18813928 0 0 39614759 0 0 0 0 0 32.45 0.00 0.26 0.

71 38.27 0.99 0.00 NA: Not Applicable 30 Financial Statements .00 NA NA NA NA 2 4 0 0 0 8 0 0 14 769 35150 21 596854 164957 0 0 0 11389498 0 0 12151309 3737729 7347762 1283950 596854 164957 0 0 0 11389498 0 0 12151309 3737729 7328467 1283950 0.00 0 0.26 0.25 0.55 100.00 17.85 5.99 NA 136 231 3 36310 36324 36327 0 174935 158814 1600 12704790 24856099 64471267 0 174935 158814 1600 12685495 24836804 64451563 0 0.00 18.00 NA 0.45 61.00 0.00 100.1 lakh Any Other (Specify) Clearing Members Non Resident Indians Trust Sub-Total (B)(2) : Total Public Share holding (B)=(B)(1)+(B)(2) Total (A)+(B) Shares held by custodians and against which Depository Receipts have been issued Promoter and Promoter Group Public GRAND TOTAL (A)+(B)+(C) : (III) 3 (IV) 39615168 (V) 39614759 As a As a Number As a percentage percentage of shares percentage of (A+B) of (A+B+C) (Ix)=(VIII)/ (IV)*100 (VI) (VII) (VIII) (Ix) 61.93 0.93 0.00 0.Annual Report 2010-11 Category Category of code shareholder Number of shareholders Total number of shares Number of shares held in dematerialized form Total shareholding as a percentage of total number of shares Shares pledged or otherwise encumbered (I) (B) (1) (a) (b) (c) (d) (e) (f) (g) (h) (2) (a) (b) (c) (C) (1) (2) (II) Total Shareholding of Promoter and Promoter Group (A)=(A)(1)+(A)(2) PuBLIC ShAREhOLDING INSTITuTIONS Mutual Funds /UTI Financial Institutions /Banks Central Government / State Government(s) Venture Capital Funds Insurance Companies Foreign Institutional Investors Foreign Venture Capital Investors Any Other (Specify) Sub-Total (B)(1) : NON-INSTITuTIONS Bodies Corporate Individuals (i) Individual shareholders holding nominal share capital up to Rs.80 11.67 0.67 0.55 100.85 NA 5.25 0.26 0.40 1.80 11.71 38.45 0 0.00 0.00 0.00 0.00 17.00 0.00 19.00 18.1 lakh (ii) Individual shareholders holding nominal share capital in excess of Rs.27 0.40 1.00 NA NA NA NA 36327 64471267 64451563 100.00 0.00 19.

425 equity shares issued on March 31. employees holding options equivalent to 18.4/. 1999.480 43.424 28.40000 40001 . The details as per the requirements of SEBI (ESOS & ESPS) Guidelines. Further.46.20000 20001 .Annual Report 2010-11 Distribution of Shareholding.484 25.540 equity shares to the eligible employees of the Company by the ESOP & ESPS Committee at an exercise price of Rs.30000 30001 .13 100 Face value of Rs.84 1.00 Dematerialization of Share and Liquidity As on March 31.11 0. Employee Stock Option Plan (ESOP 2004) The Company had instituted the Employee Stock Option Plan - ESOP 2004 to grant equity-based incentives to all its eligible employees.78.99.068 % 6.788 22.10. The details as per the requirements of SEBI (ESOS & ESPS) Guidelines.02 1.26.740 equity shares (previous year 17. The Scheme was approved by the shareholders on March 10.) 1.704 shares constituting 0.43.221 462 286 112 82 49 66 49 36.68 1. The ESOP 2004 as approved by the shareholders on September 19.64.05 1. 2011 is as under: Category 1-5000 5001 . 1999 are annexed to the Directors’ Report.27 0.21.01.10000 10001 .18 0. 4/- each.644 21.79 0.65 86. through a postal ballot process and provides for allotment of 21.44. 1999 are annexed to the Directors’ Report. Financial Statements 31 .31 0.788 34. 2011 only 19.55. representing one share for each option upon exercise.260 42. as on March 31.96 1.03% of the total equity capital are in physical form. Consequently.327 % 96.13 0. The scheme was formulated in accordance with the SEBI (ESOS & ESPS) Guidelines. the Company has amended the ESOP 2004 Scheme incorporating a clause giving the employees a right to surrender the options.32 1. the Company has allotted 11. 2009.32. during the earlier years. Employee Stock Purchase Scheme 2009 (ESPS 2009) During the year 2008-2009. The shares of New Delhi Television Limited are actively traded on Stock Exchanges.100000 100001 & Above Total Shareholders Number 35.41.435 equity shares) to the eligible employees out of 17.200 26.75.23 0.925 have exercised their right to surrender. 2005 provides for grant of 4. During the year. The maximum tenure of these options granted is 7 years from the date of grant. the Company had instituted the Employee Stock Purchase Scheme 2009 (the “Scheme”) for employees of the Company and its subsidiaries by granting shares thereunder. 4/- each.057 thousand options to employees of the Company by the ESOP Committee at an exercise price of Rs.57.50000 50001 . 2009.per share Amount (Rs.33 100.85.

Annual Report 2010-11

Registrar and Share Transfer Agent
Registrar and Share Transfer Agent of the Company is: Karvy Computershare Private Limited Unit: New Delhi Television Limited Plot No. 17-24 Vittalrao Nagar, Madhapur Hyderabad-500 081. Phone : 040-44655000 Fax : 040-23420814 E Mail : mailmanager@karvy.com

Share Transfer System
Requests for share transfers, rematerialisation and transposition are approved by Shareholders and Investors’ Grievance Committee. The share certificate is returned/ issued within the time period as stipulated under The Companies Act, 1956, The Depositories Act, 1996, Listing Agreement and other applicable rules and regulations. The Company has not issued any GDRs /ADRs /Warrants or any Convertible Instruments.

Addresses for Correspondence
Plant Locations: The Company does not have any manufacturing or processing plants. Investor’s Correspondence: For transfer of shares in physical form and rematerialisation: Karvy Computershare Private Limited Unit: New Delhi Television Limited Plot No. 17-24 Vittalrao Nagar Madhapur Hyderabad-500 081. Phone : 040-44655000 Fax : 040-23420814 E-mail : mailmanager@karvy.com For Shares held in demat form: To the respective depository participant.

Any query on Annual Report:
The Company Secretary New Delhi Television Limited Registered Office :207, Okhla Industrial Estate, Phase III New Delhi-110020. Phone : 011-46176300 Fax : 011-41735110 E-mail : anoop@ndtv.com

For and on behalf of the Board Place New Delhi : Date : May 3, 2011 Dr. Prannoy Roy Chairman

32

Financial Statements

Annual Report 2010-11

Management's Discussion and Analysis

Financial Statements

33

Annual Report 2010-11

34

Financial Statements

Converging For Growth The financial year 2010-11 turned out to be a significant year for NDTV Convergence. and video site Tubaah -- together have reached a record of 286 million page views in March 2011. Star India will also be responsible for commercial back-office management such as traffic. The applications were available across all platforms and devices by end of November 2010. NDTV India is recognized as the nation’s only non-tabloid. across all digital platforms. scheduling. The tie-up will bring children’s programming to families in the region. NDTV Convergence has also been a leader in the mobile space. Khabar. As a result advertisers are paying a higher rate per eyeball per slot than many other Hindi channels. Under the airtime sales alliance. In addition to frontline sales. infusing $40 million into the company in two tranches. it will represent the channel across India. and was graced by the Union Finance Minister. This is because NDTV. In fact. NDTV Convergence is expected to grow rapidly with 3G and broadband wireless coming in. Cricket.Annual Report 2010-11 MANAGEMENT’S DISCuSSION AND ANALYSIS Key Alliances NDTV concluded a definitive agreement with a subsidiary of Malaysian media group Astro All Asia Networks Plc to create a strategic alliance for lifestyle channels in India in September 2010. Responsible journalism has been the cornerstone of NDTV’s evolution as the most credible news network. NDTV tied up with international children’s channel KidsCo for exclusive distribution. The channel has maintained its share despite increased entertainment content on other Hindi news channels. in India. NDTV Profit maintains its number two position and is widely recognized as India’s most credible and trustworthy business news channel. the company has entered into a five-year deal with STAR India for exclusive representation for advertising sales for NDTV’s news channels. The company has launched the desktop player Financial Statements 35 . In March 2011. It also successfully hosted the prestigious Business Leadership Awards last year in Mumbai on September 1. It has ended its contract with AIDEM Ventures. the internet and mobile company has posted a 48 per cent year on year increase in revenues for the fiscal year ended March 2011 and has recorded a net profit for the year. has always steered away from sensationalism. (ref: Nielsen UMAR. Shri Pranab Mukherjee. Good Times. Cooks. working with all operators in the 2G and 3G environment with a defined application strategy in place. as a responsible media group. NDTV’s iPhone application was the number one application in India. NDTV India and NDTV Profit. and among the top ten apps in countries like the UK and UAE. Movies. billing and collections. The Nielsen UMAR survey 2009 established NDTV 24x7 as the most watched English news channel with over 60% viewership. Maintaining Dominance NDTV 24x7 continued to be totally dominant with a market leadership position in the English News genre with three nationwide surveys showing viewership of 50 per cent to 60 per cent and the other English news channels sharing 40-50 per cent. Doctor. a subsidiary of Astro All Asia Networks plc. as well as subsites NDTV Profit. Now. Video and mobile remained are our key thrust areas. It is hoped that the combination of the NDTV news brand and STAR’s leadership will unlock significant value for NDTV. Gfk-MODE). credible Hindi news channel. page views of the different portals have increased by over 100 per cent in the last six months and is now targeting close to a billion page views by the end of the year. The website is also projected to stream a billion minutes of content this year. With rapid growth. Moving on to the Hindi segment. STAR will be the sole and exclusive representative of NDTV to conduct advertising sales for all NDTV news channels – NDTV 24x7. The various portals owned by the division -- NDTV. valuing the firm at around Rs 375 crore. acquired a 49 per cent stake in NDTV Lifestyle Holdings Private Limited. 2010.com. South Asia Creative Assets Limited. In the English segment.

The iPad and iPhone applications have consistently been the top performing news apps in India. Realigning Global holdings To simplify international holdings. Bigger Success In its third edition. The NDTV-Toyota Greenathon Campaign is now the most credible platform to galvanise people who believe in a greener tomorrow. channel branding and broadcast training. that will light up 580 villages. The first batch of the programme has been launched in New Delhi. 2010. 10 per cent direct stake in NDTV BV and 50 per cent stake in Emerging Markets BV has been transferred to NDTV Networks BV and NDTV BV has been merged with NDTV Networks BV on October 15. NDTV Networks BV and NDTV Middle East Ventures FZ - LLC were liquidated. TERI took on 10 villages while IMFA donated Rs 10 lakh. NDTV WW provides consultancy on all aspects of broadcast television including technology design.000 downloads since the launch. Our signature campaign ‘Save Our Tigers’ led to the setting up of Special Tiger Protection Force by the Prime 36 Financial Statements . Shahrukh Khan topped the list of celebrities by adopting 11 villages. content planning. operational setup. top Bollywood stars.Annual Report 2010-11 and mobile applications for Android and BlackBerry users in November. business information and consumer publishing). with 200. 2010. IndiaCan is a joint venture between Educomp (India’s largest education company) and Pearson (an international media company with world-leading businesses in education. First. the market leader in the entertainment space. Union Bank of India donated Rs. Just Cause. 2 crores and adopted 100 villages. August and May–June 2011 respectively. the NDTV-Toyota Greenathon was bigger and greener as it expanded its reach internationally. both in India and overseas. with Greenathon hubs in Tokyo. the company entered into an agreement with IndiaCan for a broadcast journalism training programme that leverages the strengths of both partners. NDTV Music has been launched in partnership with Hungama. Greenathon 2 raised over Rs 2. musicians. Los Angeles. The projects include the Independent Television for Beximco Group in Bangladesh. Farooq Abdullah. In all these projects. while Karan Johar. Actor Milind Soman ran 550 km from Ahmedabad to Mumbai. This followed the launch of applications for the iPad and the iPhone. NDTV Convergence Limited. London and Sydney.5 crores but this year NDTVToyota Greenathon 3 has generated over Rs 11 crore 60 lakhs. Group NDTV has successfully transformed itself into a total media organization. NDTV was the first to draw the attention of citizens and government to the rapid decline of tiger population in India. environmentalists. In 2008. Also. Toronto. Minister for New and Renewable Energy. Mathrubhumi News in HD (High Definition) for Mathrubhumi Group in Kerala and Sentinel News for the Sentinel Group in Assam. to raise awareness for the environment. in 15 days. the shares held in NDTV Lifestyle Limited. Priyanka Chopra and Shahid Kapoor adopted five villages each. Apart from this. ICICI Bank donated Rs 1 crore for 90 villages and the Rural Electrification Corp signed up for 45 villages with Rs 90 lakhs. NDTV Labs Limited and NGEN Media Services Private Limited by NDTV Networks plc. Also supporting the Greenathon were Environment Minister Jairam Ramesh and Dr. Year One of Greenathon (2009) supported 56 villages. NGOs and educational institutions. In doing so. The company has also been involved in three channel launches for clients within India and abroad. including the country’s leading corporate houses. have been transferred to step down subsidiaries in India. which adopted 169 villages. It received an overwhelming response and garnered support from all corners of the world. widening the world There has been a flurry of activities at NDTV Worldwide. The launch dates for the channels have been set for April. It is expected that the expansion of this subsidiary will be rapid in 2011-12. Some of the significant corporate contributors included Power Finance Corporation. Further.

India Decides was adjudged the Best News Show of the Year 2010 (English) at the Indian News Broadcasting Awards (INBA) 2010. and News Television Editor-in-Chief of the Year 2010 was awarded to Barkha Dutt. Jai Jawan (Best Entertainment Feature Hindi). Additionally. The Roll of Honour was reserved for Mr K. NDTV Profits’s Mahendra Auto Quiz was adjudged the Best Quiz Show at the Indian Television Academy Awards (ITA) 2010. the television industry grew by 15. The direct-to-home (DTH) market in India added 10 million subscribers in 2010 taking the number of active customers to over 23 million. the market for digital distribution platforms is only expected to grow. NDTV India bagged 10 News Television Awards -- Viraat Samundar Ka Sikander (Best Presented Popular News Show Hindi). Narayan Rao. The News Show Host of the Year 2010 (English) was Nidhi Razdan for Left. with the aim of creating public outcry and helping to raise funds to protect our tigers from extinction. The winner Takes It All Once again NDTV swept the News Television Awards for 2010 across different categories. The Game Changers. Afshan Anjum (Best Sports News Show Presenter Hindi) and Parimal Kumar (Best TV News Reporter Hindi).a force that can respond to any emergency. Right & Centre.V. ‘The Tiger Agenda’ was presented to the Chief Ministers of eight states for implementation. Chhoone Do Aasman was adjudged Best News Documentary in the Indian News Broadcasting Awards. The Commonwealth Broadcasting Association Awards 2010 also honoured NDTV 24x7 that included the CBA-IBC Award for Innovative Engineering. Actor and superstar Amitabh Bachchan is the brand ambassador for this campaign. Yesteryears star Dharmendra urged the people to join the campaign and do their bit. non-stop programming for a day in December 2010 dedicated to tigers. and more than twice the size of print. With the regulatory push on digitization. Ravish Ki Report (Best Current Affairs Feature Hindi). The 12-hour Save Our Tigers telethon raised Rs 5 crore to set up tiger task forces in key reserves across the country . Jai Jawan. Shows such as The Buck Stops Here. India Decides @ 9 and The Big Fight have bagged NT Awards along with a couple of promotional campaigns that have also been awarded. Financial Statements 37 . Aircel has adopted this cause on a larger scale. 2010. The highlight of the campaign has been the live. the second largest media sector. One World Media Award for Extending Audience Reach and The Greenathon.Annual Report 2010-11 Minister. Nikhil Naz has been awarded Sports News Show Presenter of the Year. We The People.L. ongoing 3G rollouts. Aman Ka Zaika (Best Lifestyle & Fashion News Show Hindi). While Secret Lives won the Best Mini Series at the ITA 2010. No Mere Pie in the Sky Television saw a tremendous increase in the net DTH subscriber base totaling to 28 million at the end of 2010 Backed by growth in advertising and subscription revenues. Vinod Dua Live (Best Daily Prime Time Newscast Hindi). Aman Ka Pul (Best Current Affairs Programme Home & International.5 per cent in 2010 and is expected to grow at a CAGR of 16 per cent to touch INR 630 billion by 2015. Mehraj Dubey won the Business News Anchor of the Year 2010 (Hindi) and Nidhi Kulpati was christened News Show Host of the Year 2010 (Hindi). NDTV. Hum Log (Best Public Debate Show Hindi). Hindi). Sutapa Deb won the UNFPA-Laadli Media Awards For Gender Sensitivity for Modern Love Stories along with Red Dot Productions for Chhoone Do Aasman.com received the Special Award for Best News Channel Website. Ab Dilli Door Nahi (Best Sports Feature Hindi). Neeta Sharma was awarded the Hindi News Reporter of the Year 2010. DTH achieved robust growth of 75 percent in net subscriber base. To implement this on the ground we have a dedicated partnership pledge from the Wildlife Conservation Trust (WCT). Television is expected to account for almost half of the Indian M&E industry revenues. NDTV’s association with Aircel has added fresh impetus to the campaign. CEO of NDTV Group. increasing mobile and broadband penetration.

Broadcasters have added 444 television channels in the last five years with over 100 channels getting added in 2010 alone. formats. content and carriage costs doubled in the last four years. Our presence in the non television business. growth in subscription revenues. It is expected to corner 45. The title of being the world’s second-largest cable TV market did not amount to much — either in returns for investors or profits for media owners. The resurgence in advertising. With ad spends expected to rise going further. the industry could register a double-digit growth.5 per cent in 2010. followed by 2012 (13 per cent). Going forward. Competition has also increased. according to Pitch Madison Media Advertising Outlook 2011 (as on March 2011). the caution turned into some amount of optimism in 2010. and delivery mechanisms.Annual Report 2010-11 The Government’s thrust on digitization and addressability for cable television. Advertising revenue growth had slowed. a further rise from 44. digital distribution players like DTH. NDTV is considered to be the most credible news brand in the country and we believe that this brand differentiation makes for a more solid and less volatile business model. DTH and cable. This was done to reach out to new audiences and advertise in multiple ways. However. regulatory bodies and members of the industry actively work together. The operating margins for the industry halved in the last five years. The TV ad revenues will touch a total of US$ 2804.7 per cent of the total ad pie this year.3 million in 2011. Risk Mitigation Strategies During this year.9 per cent growth cumulatively over 2009-14 for the TV industry. reforms that aid the development of Indian media companies will act as a catalyst to the growth of the sector. As the government. television’s ad revenue is slated to grow by 20 per cent. The maximum growth is slated to occur in 2010 (15. It All Adds up The TV industry was in trouble the last few years. A longer term trend study projects a 12. is expected to increase the pace of digitization leading to tremendous growth in DTH and digital cable. Last year saw the second highest additions of television channels in the decade after 2008 which saw a record permission for 152 channels. M&E players are aggressively entering the television (TV) broadcasting space. thrust on digitization. Pay revenues stagnated at 10 to 15 per cent of the topline for most broadcasters. Companies were cautious in 2009 with the economic slowdown.6 per cent). according to a report by PricewaterhouseCoopers. TRAI has submitted recommendations to the government to increase the FDI limits across several broadcast and distribution platforms TV. The report also projects that TV will remain the highest grosser of revenues in 2011 too. as new revenue streams like (advertising on) Electronic Programming Guides (EPG) emerge. IP-TV are expected to emerge as new contenders for the total ad pie. In the next twelve months. The Ministry of Information and Broadcasting has granted permission to 39 channels including nine high definition (HD) channels in December 2010 and January 2011. The company is present across the television platform and has built a global business. we came up with innovation and flexibility in our content. In the future the increase in the share of subscription revenues in overall revenues will also be a major factor in reducing the dependence on the more volatile income streams from advertising. would further de-risk the company. and emerging avenues for content monetization were the key growth drivers for the whole Indian Media & Entertainment (M&E) industry in 2010. The advertisement spend is showing a rebound with increasing business confidence returning to the market as well as with innovative structuring. 38 Financial Statements .

An addition of Rs.91 million during the year is due to the premium credited on issue of 11.740 equity shares pursuant to “Employee Stock Purchase Scheme -2009”. in million Particulars Securities premium account .738 1. New Delhi Television Media Limited.) 64. April 1.527 – 11. 1. At present there is only one class of shares – equity shares.89 2010 Equity Shares (No.97 257. New Delhi Television Media Limited. NDTV News 24x7 Limited. in Million 257. The management accepts responsibility for the integrity and objectivity of these financial statements. to the extent required: – Capital Reserve created pursuant to the Scheme. For further details.602 – 1 1 3.741. The subscribed and paid capital of the Company has increased by 11.As at April 1 Add: Amount credited on excercise of employee stock options issued under "Employee Stock Option Plan - 2004" Add: Amount credited on issue of shares under "Employee Stock Purchase Scheme - 2009" Add: Amount credited on account of Merger Less: Amount adjusted against Opening Profit & Loss (Debit Balance) Securities premium Account . NDTV India Plus Limited.e.435 64. the company incurred loss of Rs. NDTV Delhi Limited and NDTV News Limited into the Company with effect from appointed date i. April 1. NDTV India Plus Limited.338 million (net) is on account of the Scheme of Arrangement (“Scheme”) for the merger of NDTV Studios Limited.70 million.471. NDTV Hindu Media Limited.) 62.84 Share Capital Reserves & Surplus a.as at March 31 b. NDTV News 24x7 Limited.85 0. on exercise of options under “Employee Stock Purchase Scheme -2009”.02 6. see “Financial Statements – Significant Accounting Policies. same as in previous year. and Financial Statements 39 .077 135 – – 1. 52.740 64.e. amounts to Rs.000 1. NDTV Business Limited. 779 million was adjusted on account of the Scheme of Arrangement (“Scheme”) for the merger of NDTV Studios Limited. 2011 2010 1.84 – 0.092 5. NDTV Hindu Media Limited. A statement of movement in the subscribed and paid up share capital is given below: Particulars Balance at the beginning of the year Shares issued upon conversion of options issued under "Employee Stock Option Plan - 2004" Shares issued upon conversion of options issued under "ESPS - 2009" Balance at the end of the fiscal year 2011 Equity Shares (No.25 million equity shares of Rs 4/- each. 2010 against the following.488 (150) 5.733 million divided into 433. c.0. which have been prepared in compliance with the requirements of the Companies Act.527 Rs.738 General Reserve The balance as of March 31. in Million 250. in the order specified.267 Rs.05 257. Securities Premium Account The addition to the securities premium account of Rs. Profit & Loss Account During the year. NDTV Business Limited.740 equity shares. A statement of movement in the securities premium is given below: Rs. 2010.459.3. – Revaluation Reserve of the Transferee Company including Revaluation Reserve of the Transferor Companies (pursuant to Scheme). 2011.” Financial Condition The Company’s authorized capital is Rs. 986 million while the opening debit balance of Rs.Annual Report 2010-11 FINANCIAL CONDITION AND RESuLTS OF OPERATIONS Overview The following discussion is based on the audited financial statements.713. 1956 and Generally Accepted Accounting Principles (GAAP) in India. As at March 31. NDTV Delhi Limited and NDTV News Limited into the Company with effect from appointed date i. as well as for various estimates and judgments used therein.459.

It includes capital advances of Rs. in million Particulars Investments in subsidiaries NDTV Media Limited NDTV B. New Delhi Television Media Limited.e.19 8. 57. The investment in its subsidiary Metronation Chennai Television Limited has been completely provided for diminution in value during the year.11 – – 2.Annual Report 2010-11 Securities Premium Account of the Transferee Company including Securities Premium Account of the Transferor Companies (pursuant to Scheme). NDTV News 24x7 Limited. (Earlier known as Emerging Market 24X7 B. NDTV Business Limited.25 – – 62. Vehicles.72 1.) NDTV Convergence Limited Emerging Market B. NDTV India Plus Limited.V.50 – 0. The capital work in progress of Rs. April 1. 39. April 1. New Delhi Television Media Limited. A statement of movement in Investments is given below: Rs.008.V. the said investment has been restored to the Company. in million Particulars Profit & Loss Account at the beginning of the year Add: Profit/(Loss) for the year Add: Amount credited on account of Merger Add: Amount adjusted against Reserves & Surplus Profit/ (Loss) Carried forward to balance sheet For the year ended March 31. NDTV Hindu Media Limited.50 5. 52. Computers. 31 2011 2010 8. (Earlier known as Emerging Market 24X7 B.V.75 0.29 20.52 52. 2011 comprises assets being acquired for expansion and for replacement of existing depreciated unusable assets. 2010. Fixed Assets The additions to fixed assets in the current year consisted of expense incurred for new Plant & Machinery.56 million) SBI Mutual Fund Jai Prakash Power Venture Ltd As at March.V. Limited Share Application Money .e.8 million towards acquisition of properties.01 362. 2011 2010 (779) (574) (986) (205) 18 – 762 – (986) (779) – Secured and unsecured Loans The Company borrowed additional Rs.700. The Company’s investment in EMAAR MGF Limited was sold to NDTV News Limited during the previous year and pursuant to the Scheme of Arrangement (“Scheme”) for the merger of NDTV Studios Limited. 58 million as of March 31.) Others Delhi Stock Exchange (Net of diminution of Rs.25 2. 20..V. (Earlier known as NDTV Networks B. Land & Other office equipments etc.11 0.) Metronation Chennai Television Limited (Net of diminution of Rs. NDTV Delhi Limited and NDTV News Limited into the Company with effect from appointed date i. Investments During the year the Company has sold its stake in NDTV BV and NDTV Emerging Markets BV to NDTV Networks BV at the book value. NDTV India Plus Limited. 2010.36 million of loans during the year for funding its operational requirements.95 – – 210.04 2. NDTV Business Limited.01 3.42 40 Financial Statements . NDTV News 24x7 Limited.04 million) NDTV One Holding Ltd NDTV Networks Limited NDTV Worldwide Pvt.00 210.in subsidiary Emerging Market B. the Company has made investments in NDTV Networks Limited and NDTV Worldwide Private Limited during the year.V. A statement of movement in profit and loss account is given below: Rs.95 million) Emaar MGF Land Limited (Net of diminution of Rs. Further.10 – – 85. acquired directly for supporting operations and those obtained on account of the Scheme of Arrangement (“Scheme”) for the merger of NDTV Studios Limited.50 0. NDTV Delhi Limited and NDTV News Limited into the Company with effect from appointed date i. NDTV Hindu Media Limited.

Annual Report 2010-11

Results of operations Revenues The Company derives advertising revenue from the channels, NDTV 24X7, NDTV India and NDTV Profit. Business Income primarily comprises revenue from national and international subscription for pay channels and income from shared services. Total Income The total revenue increased marginally by 2% from Rs 3,555 million in the previous year to Rs 3,638 million in the current year driven by an increase in subscription revenue. The following chart depicts the movement in revenue over the years.

The following table sets forth the contribution of the different components towards total income for year ended March 31, 2011 and March 31, 2010. Income for the year ended March 31, Advertising Sales (Including barter income) Subscription Revenue Shared Service Other Business Inome Business Income Other Income Total Income 2011 2,617.32 508.41 112.52 233.92 854.85 166.31 3,638.48 % 72% 14% 3% 6% 23% 5% 100% 2010 2,700.93 418.55 159.28 204.99 782.83 70.75 3,554.51 Rs. in million % Growth% 76% -3% 12% 21% 4% -29% 6% 14% 22% 9% 2% 135% 100% 2%

Advertising Revenue Net advertisement revenue for the year ended March 31, 2011 was Rs. 2,617 million as against Rs. 2,701 million last year i.e. reduction of 3%. Advertisement revenue has reduced over previous year due to tough market conditions and increase in number of channels in News genre. Business Income Business Income for the year ended March 31, 2011 increased by 9% to Rs. 855 million from Rs 783 million last year. Among the major sources of business income, the subscription income has increased to Rs 508 million in comparison to Rs. 419 million last year mainly due to continuous growth in DTH subscribers. However the shared service income for support services provided to group companies reduced to Rs. 113 million in the current year as against Rs. 159 million in the previous year due to reduction in the scope of services and scaling down of the nonnews operations.

Financial Statements

41

Annual Report 2010-11

Other Income Other Income for the year ended March 31, 2011 is Rs. 166 million as against Rs. 71 million for the last year. This is mainly attributable to the increase in interest income from fixed deposits by Rs. 55 million and interest on income tax refund received during the year Rs. 22 million as compared to Rs. 7 million received in the previous year and higher amounts written back during the current year on account of liabilities no longer required. Expenses The Company’s expenses comprise of Production Expenses, Personnel Expenses, Administration Expenses and Distribution & Marketing Expenses. Operating Cost The total operating cost for the year ended March 31, 2011 has increased by 24% from Rs. 3,301 million in the previous year to Rs. 4,099 million. This is mainly attributable to increase in personnel costs driven by increments in staff salaries and increase in operations and administration cost due to provisions for diminution for certain investments and provisions created for doubtful debts and advances. The following table depicts the different components of operating cost: Operating expenses for the year ended March 31, 2011 Total Revenue Production Expenses Personnel Expenses Operations & Administration Expenses Marketing, Distribution & Promotion Expenses 3,638.48 582.83 1,165.24 1,322.94 1,028.19 4,099.22 % of Revenue 100% 16% 32% 36% 28% 113% 2010 3,554.51 556.42 924.75 794.64 1,024.91 3,300.73 Rs. in million % of Revenue 100% 16% 26% 22% 29% 93% Growth% 2% 5% 26% 66% 0% 24%

42

Financial Statements

Annual Report 2010-11

Production Expenses Production Cost for the year ended March 31, 2011 increased by 5% from Rs. 556 million in the previous year to Rs. 583 million in the current year. The major break up of the production expenses is provided in the table below: Production expenses for the year ended March 31, 2011 Total Revenue Transmission & Uplinking Consultancy & Professional Fee Travelling Subscription,Footage & News Service Hire Charges Graphic, Music & Film Clip Video Tapes Software Expenses Stores & Spares Set Construction Helicopter Running & Maintenance Other Production Expenses Total Production Expenses 3,638.48 75.37 152.30 118.53 71.73 17.70 14.01 2.74 24.16 5.71 8.35 – 92.24 582.83 % of Revenue 100% 2% 4% 3% 2% 0% 0% 0% 1% 0% 0% 0% 3% 16% 2010 3,554.51 68.94 141.09 89.81 84.96 14.90 13.26 3.33 25.10 8.56 8.07 4.15 94.24 556.42 Rs. in million % of Growth % Revenue 100% 2% 2% 9% 4% 8% 3% 32% 2% -16% 0% 19% 0% 6% 0% -18% 1% -4% 0% -33% 0% 4% 0% -100% 3% -2% 16% 5%

The major increase in production costs is mainly on account of Travelling and Hire charges pertaining to special projects (Save India’s Coast, Save Our Tigers and Greenies), which has generated higher revenues. Employees Cost Employees cost for the year ended March 31, 2011 increased by 26% from Rs. 925 million in the previous year to Rs. 1,165 million in the current year. This is mainly due to salary increments during the year. Operating and Administrative Expenses Operating and Administrative Expenses increased by 66% from Rs. 795 million in the previous year to Rs. 1,323 million in the current year. This increase was mainly due to the provision for diminution in certain investments, provision for doubtful debts and advances and foreign exchange loss recorded during the current year. The breakdown of the major components is as follows:

Financial Statements

43

13 2% Local conveyance & taxi hire 89. Important factors that would make a difference to the Company’s operations include market factors. Distribution and Promotional Expenses Marketing and distribution expenses for the year ended March 31. Please refer note B-13 on Schedule 20.76 3% Provision for diminution in value of investment 112. April 1.48 100% Rent 174. 2010.85 96.51 197. periodicals and news papers 24.28 million as a result of additions to fixed assets made during the current and previous year and assets acquired pursuant to the Scheme of Arrangement (“Scheme”) for the merger of NDTV Studios Limited. 15 million for income tax provision for the current year and Rs.00 10. NDTV Business Limited.638. 2011 % of Revenue Total Revenue 3. NDTV Hindu Media Limited. Depreciation The depreciation for the year has increased by Rs.64 Rs. NDTV News 24x7 Limited.95 36% 2010 3.70 2% Insurance 35.e. 1.10 0.51 3% Total Operating Expenses 1. New Delhi Television Media Limited.29 1% Vehicle 49.56 3% Provision for doubtful debts/advances 272.98 5% Communication 73.75 76. NDTV India Plus Limited.56 1% Loss on Sale/write off of Fixed Assets 17. 7 million for the current year as compared to the last year.00 0.73 7% Bad debts & advances written off 21.38 15. developments within the country and abroad and other such factors. Finance Charges The company took additional working capital loan during the year to fund its business requirements.54 69.81 0% Foreign Exchange loss - Net 117.024 million. in million % of Growth % Revenue 100% 2% 6% -11% 2% 5% 2% 12% 1% -3% 2% -8% 2% 12% 2% 16% 1% 54% 0% 100% 0% 100% 0% 984% 0% 1609% 1% 2% 1% 11% 3% 12% 22% 66% Marketing.77 2% Legal & professional 89.60 2% Electricity and water 49. 22 million as tax provision for earlier years.79 50.322. Income Tax During the year.554.85 1% Books.65 79. government regulations.028 million have remained almost consistent with previous year which stood at Rs. Related party transactions These have been discussed in detail in the notes to the financial statements.96 21.17 1% Others 108. 1.43 21.11 23.89 53.28 77.52 1% Repair & maintenance 85. This has resulted into a higher finance charge of Rs. 2011 at Rs. 44 Financial Statements .Annual Report 2010-11 Operating & Administration expenses for the year ended March 31. NDTV Delhi Limited and NDTV News Limited into the Company with effect from appointed date i. the company has provided for an amount of Rs. Disclaimer Statements in the management discussion and analysis report describing the Company’s outlook may differ from the actual situation.92 794.

1956’ of India (the ‘Act’) and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us. proper books of account as required by law have been kept by the Company so far as appears from our examination of those books.373 thousand). 4. This would then result in the Loss after Taxation for the year to be Rs. in the prescribed manner. 2011. which we have signed under reference to this report. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of Section 211 of the Act.F 084451 2. Net Current Assets to be Rs.138. We conducted our audit in accordance with the auditing standards generally accepted in India. none of the directors is disqualified as on March 31. In the event that the Central Government approval is not received. were necessary for the purposes of our audit. the said financial statements together with the notes thereon and attached thereto give. as on March 31. and the related Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. We refer to note on B-14 (i) of Schedule 20 regarding managerial remuneration amounting to Rs. (d) In our opinion. 2011. For Price Waterhouse Firm Registration No . We believe that our audit provides a reasonable basis for our opinion. As required by the Companies (Auditor’s Report) Order. of the state of affairs of the company as at March 31. (b) In our opinion. issued by the Central Government of India in terms of subsection (4A) of Section 227 of ‘The Companies Act. evidence supporting the amounts and disclosures in the financial statements.373 thousand (as against the reported figure of Rs 986.303 thousand for the previous year being subject to approval by the Central Government. 3. as amended by the Companies (Auditor’s Report) (Amendment) Order. An audit also includes assessing the accounting principles used and significant estimates made by Management. these amounts are to be refunded by such directors. 2011 and taken on record by the Board of Directors.8. (c) The Balance Sheet. the Balance Sheet.511 thousand (as against the reported figure of Rs. of the cash flows for the year ended on that date. Further to our comments in the Annexure referred to in paragraph 3 & 4 above. An audit includes examining.290. of the loss for the year ended on that date. 2011 Anupam Dhawan Partner Membership No . we report that: (a) We have obtained all the information and explanations which. and subject to the matter referred in paragraph 4 above. as well as evaluating the overall financial statement presentation. We have audited the attached Balance Sheet of New Delhi Television Limited (the “Company”) as at March 31. 5. the information required by the Act. Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. on a test basis. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.129. Financial Statements 45 .FRN 007568S Chartered accountants Place of Signing: New Delhi Dated : May 3.5. and (iii) in the case of the Cash Flow Statement. Our responsibility is to express an opinion on these financial statements based on our audit. 2004 (together the “Order”). 2011 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Act. 1.011 thousand (as against the reported figure of Rs. 986. 2003. (ii) in the case of the Profit and Loss Account.Annual Report 2010-11 Auditors’ Report to the Members of New Delhi Television Limited 1.282. give a true and fair view in conformity with the accounting principles generally accepted in India: (i) in the case of the Balance Sheet. we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. to the best of our knowledge and belief. (e) On the basis of written representations received from the directors. These financial statements are the responsibility of the Company’s Management. 5.1.208 thousand) and Reserves & Surplus to be Rs. (f) In our opinion and to the best of our information and according to the explanations given to us.708 thousand).

firms or other parties covered in the register maintained under Section 301 of the Act. Accordingly. According to the information and explanations given to us. The Central Government of India has not prescribed the maintenance of cost records under clause (d) of subsection (1) of Section 209 of the Act for any of the products of the Company. 4. from companies. (c) On the basis of our examination of the inventory records. service tax. customs duty. (b) The Company has not taken any loans. Pursuant to the programme. In our opinion and according to the information and explanations given to us. to companies. firms or other parties covered in the register maintained under Section 301 of the Act. as amended by the Companies (Auditor’s Report) Order. fixed assets and for the sale of services. The discrepancies noticed on physical verification of inventory as compared to book records were not material. secured or unsecured. (a) The Company is maintaining proper records showing full particulars. is reasonable having regard to the size of the Company and the nature of its assets.Annual Report 2010-11 Annexure to Auditors’ Report Referred to in paragraph 3 of the Auditors’ Report of even date to the members of New Delhi Television Limited on the financial statements for the year ended March 31. the Company is regular in depositing the undisputed statutory dues including provident fund. 9. Accordingly. 8. sales-tax. 6. the question of commenting on transactions made in pursuance of such contracts or arrangements does not arise. of fixed assets. 7. The Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA of the Act and the rules framed there under. income-tax. cess and other material statutory dues as applicable with the appropriate authorities. in our opinion. wealth tax. are not applicable in the case of the Company in the current year. excise duty. the Company is maintaining proper records of inventory. there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory. (b) In our opinion. and according to the information and explanations given to us. a substantial part of fixed assets has not been disposed of by the Company during the year. (a) According to the information and explanations given to us and the records of the Company examined by us. 2003. In our opinion. clause (iii) (f) & (g) of paragraph 4 of the Companies (Auditor’s Report) Order. the procedures of physical verification of inventory followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of its business. (a) The Company has not granted any loans. (c) & (d) of paragraph 4 of the Companies (Auditor’s Report) Order. as amended by the Companies (Auditor’s Report) Order. (a) The inventory has been physically verified by the Management during the year. 2004. Accordingly. 46 Financial Statements . (b) The fixed assets are physically verified by the Management according to a phased programme designed to cover all the items over a period of three years which. Further. 2003. the Company has an internal audit system commensurate with its size and nature of its business. we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system. in our opinion. a portion of the fixed assets has been physically verified by the Management during the year and no material discrepancies between the book records and the physical inventory have been noticed. in our opinion. 2. 2011 1. there have been no contracts or arrangements referred to in Section 301 of the Act during the year to be entered in the register required to be maintained under that Section. 5. including quantitative details and situation. secured or unsecured. on the basis of our examination of the books and records of the Company. 3. investor education and protection fund. are not applicable in the case of the Company in the current year. 2004. (c) In our opinion and according to the information and explanations given to us. clause (iii) (b). employees’ state insurance.

During the course of our examination of the books and records of the Company. there are no funds raised on a short-term basis which have been used for long-term investment except Rs. 12. sales-tax. However. 18. 343. 15. The other clause (xix) of paragraph 4 of the Companies (Auditor’s Report) Order. On the basis of an overall examination of the balance sheet of the Company. there are no dues of income-tax. In our opinion and according to the information and explanations given to us. 2004. According to the records of the Company examined by us and the information and explanation given to us. the Company has not incurred any cash losses in the immediately preceding financial year. The Company has not raised any money by public issues during the year. The Company has accumulated losses as at March 31.Annual Report 2010-11 (b) According to the information and explanations given to us and the records of the Company examined by us. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year. service-tax.F 084451 Financial Statements 47 . In our opinion. 14. The provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund/ societies are not applicable to the Company. For Price Waterhouse Firm Registration No . 13. noticed or reported during the year. debentures and other investments. the Company is not a dealer or trader in shares. since in our opinion there is no matter which arises to be reported in the aforesaid Order. the term loans have been applied for the purposes for which they were obtained. 22. we have neither come across any instance of fraud on or by the Company. as amended by the Companies (Auditor’s Report) Order. nor have we been informed of such case by the Management.FRN 007568S Chartered accountants Place of Signing: New Delhi Dated : May 3. the Company has not given any guarantee for loans taken by others from banks or financial institutions during the year. 2011 and it has incurred cash losses in the financial year ended on that date. and according to the information and explanations given to us. 20. In our opinion. on an overall basis. in our opinion and according to the information and explanations given to us. customs duty. carried out in accordance with the generally accepted auditing practices in India. debentures and other securities. wealth-tax.195 thousand used for funding of losses. excise duty and cess which have not been deposited on account of any dispute. 2003. and according to the information and explanations given to us. 2011 Anupam Dhawan Partner Membership No . are not applicable in the case of the Company in the current year. 19. 10. 11. the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders as at the balance sheet date. securities. 17. The Company has not granted any loans and advances on the basis of security by way of pledge of shares. 16.

186.185.447.008.262 112.140.575.547.173 2.163.712 1.276.367.536 8 9 10 11 6.467.112.706.745.311 3.704.145.Annual Report 2010-11 New Delhi Television Limited Balance Sheet as at March 31.625 This is the Balance Sheet referred to in our report of even date The schedules referred to above form an integral part of the Balance Sheet For and on behalf of the Board For Price Waterhouse Chartered Accountants Firm Registration No: FRN007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing: New Delhi Date: May 3.092 112.282.195. 2010 Amount (Rs. Loans and Advances Less : Current Liabilities and Provisions Current Liabilities Provisions Net Current Assets Profit and Loss Account Significant Accounting Policies and Notes to the Accounts 20 As at March 31.377 4.949 403.044 1.099.016.477 362.992 1.) As at March 31.509 – 7.030 20.667 47. 2011 Amount (Rs.658 57.295.536 3.774 2.562 5.043.333 2.553.391.215.179 1.422.633 48.473 1.150 25.228.803.686 986.603 7.885.603.518.611.363.990.9 on Schedule-20) Current Assets.310.949 2.838. Loans and Advances Inventories Sundry Debtors Cash and Bank Balances Other Current Assets.134 3.227.668 1.688.207.167.846 1.108 1.033.429 1.371.221 1.340.391.879 1.199.081.708.195.899.731 779.027.466.024.946.565 674.043.711.) 1 2 3 4 5 257.785.803.256.810.221 843.940 474. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer 48 Financial Statements .287.221 257.137.192.728.026.805.704. 2011 Schedule Sources of Funds Shareholders' Funds Capital Employee Share Purchase Outstanding Reserves & Surplus Secured Loan Unsecured Loan Application of Funds Fixed Assets Gross Block Less : Depreciation Net Block Capital Work in Progress Investments Deferred Tax Asset (Net) (Note B.213 6 3.881.192.461 629.476 7 1.511.372.047.311.698 1.388.213 12 13 1.082 5.230 1.068 873.810 1.129.183. 2011 Dr.034 4.666.

938 924.Annual Report 2010-11 New Delhi Television Limited Profit and Loss Account for the year ended March 31.736.045 – – – 18.619 761.216.700.933.951 1.160.322.671 3.033 (460.753.927 782.555 (986.099.Basic and Diluted (Note A-14 & B-16 on Schedule 21) – Basic – Diluted Significant Accounting Policies and Notes to the Accounts For the year ended March 31. 2010 Amount (Rs.758 (986.372. 2011 Dr.412 854.781.107) 19 6 201.479. Tax and Employee Stock Compensation Expense Interest and Finance Charges Depreciation /Amortisation Profit/(Loss) Before Tax and Employee Stock Compensation Expense Employee Stock Compensation Expense (Note B-1 on Schedule 20) Profit/(Loss) Before Tax Tax Expense – Current Tax – Tax For Earlier Years – Fringe Benefits Tax For Earlier Years Net Profit/ (Loss) After Tax Previous Year Balance Brought Forward Addition On Account of Merger Adjusted against Reserve & Surplus as per Scheme of Arrangement (Note B-6 on Schedule 20) Loss carried forward to the Balance Sheet Earnings Per Share .617.117 253.646 1.750.567) – – (779.983.568.455 1.295.627 3.767.910.510 22.555.603) (779.377) 17.229.048) 14.2011 Amount (Rs.300.782.341 194.143.810) (574.372.735 273.926 582.603) (15.131. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer Financial Statements 49 .198) 39.512.313.424.343 (949.580 (186.) 2.959 245.555.295.607.834. 2011 Schedule Income Business Income – Advertising Revenue – Other Other Income Expenditure Production Expenses Personnel Expenses Operations & Administration Expenses Marketing.981 4.555.193.277 70.377) (3.938) 14 15 16 17 18 37.458 556.242.705) 13.731.845.30) (15.944.825.740 (186.668. Depreciation.554.673.024.26) 20 This is the Profit and Loss Account referred to The schedules referred to above form an integral in our report of even date part of the Profit and Loss Account For and on behalf of the Board For Price Waterhouse Chartered Accountants Firm Registration No: FRN007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing: New Delhi Date: May 3.872 (205.165.30) 18.872 For the year ended March 31. Distribution & Promotion Expenses Profit/(Loss) Before Interest and Finance Charges.254 3.887 166.028.680.684 1.163.824 794.638.26) (3.644.863 (935.) 2.512.320.051.

380.343 14.000 2.854.653) (79.260. 2010 Amount (Rs.957 (61.673.588.541.247.376 125. Cash flow from operating activities: Net (loss)/profit before tax Adjustments for: Depreciation/Amortisation Interest and Finance Charges Interest Income Employee Stock Compensation Expense/(Write Back) (Profit)/Loss on sale / Fixed Assets written off Provision For Diminution in the value of Investment Debts / Advances Written off Provision for Doubtful Debts Provision for Doubtful Advances Provision for Gratuity & Employee Benefits Provision for Doubtful Debts Written Back Liabilities no longer required Written Back Unrealised Foreign exchange Loss/ (Gain) Barter Income Barter Expenditure Tax Deducted at Source on service Income Operating profit before working capital changes Adjustments for changes in working capital : – (Increase)/Decrease in Sundry Debtors – (Increase)/Decrease in Other Receivables – (Increase)/Decrease in Inventories – Increase/(Decrease) in Trade and Other Payables Cash generated from operations – Taxes (Paid) / Received (Net of TDS) – Fringe Benefit Tax (Paid)/ Received Net cash from operating activities B.385) 168.941 21.455 70.014) 181.500.516) (1.970.146.289.723.048) (186.718.131.612 82.496.674.959 (10.328 – (53.819.002.429) 60.666.667.068 (949.989.Annual Report 2010-11 New Delhi Television Limited Cash flow statement for the year ended March 31.133.) 50 Financial Statements .937.403.479 (2.500.152) 39.) A.863 201.056) (242.530) 30.604 307.457 (101.565 – 9.938 (2.510.113.236.113 (284.223 (53.229 2.735 (87.000) (26.668.980 (4.827) (264.031 30.052.834 112.338) (28.883 10.318) 95.398) 10.812) 74. 2011 For the year ended March 31.503.229.740 (941.000) (76.155.362.694) 13.373) (180. 2011 Amount (Rs.703 273.224.398.545) 87.965.960. Cash flow from Investing activities: Purchase of fixed assets Proceeds from Sale of fixed assets Proceeds from Sale of Investment Refund of Share Application Money Interest Received Investments made during the year Net cash used in investing activities (154.486.077 1.607.431.755.806.907.720.308.300 21.480) (171.767.962.624.649.389) (42.935.465) 27.810) 81.680.778.084 (81.000 86.080.598 5.442 (69.051.281.938) For the year ended March 31.531) (3.829) 245.052) 151.841 (3.381.275) 147.546 190.590) (423.556.373.848.293.725.580 194.

739) (188. This is the Cash Flow Statement referred to in our report of even date.656) (196. – Tax deducted at source (on income) – Barter Transactions 4.653.008.693 25.465.151) – – (896. Further.223.371.631 674. The above Cash flow statement has been prepared under the indirect method set out in AS-3 as notified under section 211(3C) of the Companies Act.530. 2.341.786. 3. 2011 Dr.461 1.768 24.800.000) (455.846) 36.722.044.971.083.000) (142. fixed deposits amounting to Rs 637. 2010.584) (5.740 (56. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer Financial Statements 51 .588) (41. 2010 Amount (Rs. 2011 Amount (Rs. Previous year's figures have been regrouped or reclassified wherever necessary to conform to current year's grouping and classification.464. Includes fixed deposits under lien Rs 200.688.) C.) 6. Figures in brackets indicate cash outflow.688. 2011 For the year ended March 31.329) (1.307 – 25. Following non cash transactions have not been considered in the cash flow statement.882.965 are under lien towards loan against deposits. For and on behalf of the Board For Price Waterhouse Chartered Accountants Firm Registration No: FRN007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing: New Delhi Date: May 3.371.940 For the year ended March 31.000 (Previous Year Rs 3.654) (72.484 674.960 (54.772) against letters of credit issued and pledged against bank guarantees.194.019) (1.248.461 Notes : 1. Cash flow from financing activities: Proceeds from fresh issue of Share Capital Loan given to subsidiaries Repayment of Term Loan Repayment of Secured Working Capital Loan from Bank Payment of Unsecured Working Capital Loan Interest Paid Interest Paid on Finance Lease Dividend Paid Dividend Tax Paid Net cash generated/ (used) in financing activities Net Increase/(Decrease) in Cash & Cash Equivalents Opening Cash and cash equivalents Cash & cash equivalents as at April 1.329. 5.906.589.acquired consequent to merger of NDTV Studios & it's subsdiaries and NDTV News Limited (Note B-6 on Schedule 20) Closing Cash and cash equivalents 4 Cash and cash equivalents comprise Cash in hand Balance with Scheduled Banks on Current and Deposit accounts 4 46. 1956.074.940 1.877.Annual Report 2010-11 New Delhi Television Limited Cash flow statement for the year ended March 31.830) 265.456 672.152) 25.688.991) (10.308.461 1.453.625.985.314 (73.519.493) – – (119.394.

460) Equity shares of Rs.068 257. 11.651.528 ) Equity Shares of Rs 4/-each were allotted as fully paid up pursuant to a contract without payment being received in cash. (b) 7.1. (e) Nil (Previous Year 1.173 1.517) Equity Shares of Rs 4/.740 (Previous Year.509.500.930.1 Capital Authorised : 433.c.528 (Previous Year 9.4/.each were allotted as fully paid up by way of Bonus Shares by capitalisation of Profits and Revaluation Reserve.each have been issued but not yet subscribed pursuant to Employee Stock Purchase Scheme 2009 (ESPS-2009) (Refer Note B-1 on Schedule 20). 2011 Amount (Rs.each allotted to the eligible employees of the Company under ESPS 2009 (Note B-1 on Schedule 20).each were allotted as fully paid up by way of Bonus Shares by capitalisation of Securities Premium.930.482.173 52 Financial Statements .990) Equity shares of Rs.870) Equity Shares of Rs.517 (Previous Year 64. 4/.) As at March 31.each 1 1.077.each allotted to employees of the Company on exercise of the vested stock options under Employee Stock Option Plan-ESOP 2004 of the Company (Note B-1 on Schedule 20).2 Employee Share Purchase Outstanding (Note B-1 on Schedule 20) Employee Stock Purchase outstanding under ESPS-2009 873. Further.000 257.471. 4/.267 (Previous Year 64.562 1.459.108 257. (d) 9.077.785.068 257.Annual Report 2010-11 New Delhi Television Limited Schedules to the Balance Sheet As at March 31.250.509. 4/.000.each Subscribed & Paid Up1(b.108 Out of the above: (a) 11.838.068 257.250 (Previous Year 22.562 873.000 (Previous Year 87. Schedule . (c) 33.838.785.435) Equity shares of Rs.4/.000) Equity Shares of Rs.741.527) Equity Shares of Rs.885. 2010 Amount (Rs.651.870 (Previous Year 7.000 350.d & e) : 64.690 (Previous Year 33.915.each Issued1(a) : 64.690 ) Equity Shares of Rs 4/.885. 4/.068 257.733.000.) Schedule .482.

713.577 1.602.3 Reserves & Surplus As at March 31.129.200.200.816.955.666. Schedule .664.254.308.3 – Interest Accrued and Due (Note B-25 on Schedule 20) From Others – Finance Lease Liabilities5 1 120.016.692.666.109 (Previous year Nil) secured against fixed deposit amounting to Rs.64.701.955.5 Unsecured Loans From a Bank – Working Capital Loan – – 403.861.477.325.206) 5.611 3. Out of the above: – Rs.372.602.570 385. 2011 Amount ( Rs.006.767.700.000).737.822) – 5.233.495.786. – Rs 55.000) secured by charge created/to be created on building and other assets acquired against the aforesaid loan.3.701.946.405. Consequent to the Scheme of arrangement (Note B-6 on Schedule 20).164 ) secured by way of charge created on all current and future book-debts of the Company.946.164 5.822 – (225. Phase III.803. ) As at March 31.730) – 225.071 1.660 (Previous year Rs.512 52.029.557 52.570 – – – 229.006 1. Term loans repayable within a year Rs 21.147 3.730 (385.949 On exercise of employee stock options 2004 and allotment of ESPS 2009 (Note B-1 on Schedule 20). – Rs.082 1. The loan is further secured by the hypothecation of plant and machinery acquired / to be acquired by the Company. 172.4 – Working Capital Loan 2.218.040.Annual Report 2010-11 New Delhi Television Limited Schedules to the Balance Sheet Schedule .265. 2010 Amount ( Rs.509 262.557 911.488.000 (Previous year Rs.708. 90. 629. ) Securities Premium Account Opening Balance Additions during the year 1 Addition on account of Merger 2 Adjusted Against Opening Profit & Loss (Debit Balance) 2 Closing Balance General Reserve Capital Reserve Addition On Merger Adjusted Against Opening Profit & Loss (Debit Balance) 2 Closing Balance Revaluation Reserve Opening Balance Addition/(Utilisation) during the year Adjusted Against Opening Profit & Loss (Debit Balance) 2 Closing Balance 1 2 1.914.822 2.550 (150.604 136. Schedule .953 – – 1.639. 1.000 (Previous year Rs. New Delhi Further the loans are secured by way of charge created over the specified properties of the Company situated at New Delhi. Secured by hypothecation of specified assets on lease (Note B-18 on Schedule 20).363.577 (Previous year Rs.965 (Previous year Nil) – Rs.728.779 15.601.672. 362. 637.737.034 Financial Statements 53 .034 403.535) – 225.077.810.357 (3.4 Secured Loans From a Bank – Term Loans 1.378 (Previous year Nil) to be secured against the mortgage of property at 207 Okhla Industrial Area.080.577) secured by the hypothecation of specific Plant and machinery acquired/ to be acquired against the aforesaid loan and also against existing plant and machinery.071.137 24.946.071.577 1.130.949 2 3 4 5 Out of the above: – Rs 65.603.

288 – 21. Nil (Previous Year Rs.148 725.268 115.314.497 Computer Software on lease 389.518.636 6.088. 15.340 23.6 & 7 and B-6 on Schedule 20) Annual Report 2010-11 Gross Block Financial Statements 13.211) towards Capital Advances.145. 57.804 – 19.386 103.805.256.971 245.701 35.406.003.5.064 273.492.572.871 25.706.2010 On account of Merger 7 Additions during the Year Intangible assets Computer Software 63.400 146.304 5.095.684. 5 Gross Block includes assets aggregating Rs.000.967.923.922 1.116 111.687 1.099.755 ( Previous Year Rs.570.563.970.Nil (Previous Year Rs.296 770.781 961.659 77.728 202.268.476 – 47. 2010 On account Provided dur.367.975.457.014 90.342.044.364 22.657 – 487.337.068. 7 As per scheme of arrangement (Note B-6 on Schedule 20) .357 36.388.2010 includes land appurtenant to the building acquired.000) purchased under barter arrangements during the year.822 16.668 Capital Work in Progress6 – 1 Gross Block includes assets aggregating Rs.065.544.343 6.745.831 1.667 – – 57.683.598.940 6.605.437 18.638 – Tangible assets Land 1 – – Leasehold Land 495.921 6.184 47.776.420 48.993.594 41.540 2.447.572.606 6.329 484.329 – – 169.849 4.070 – 32.025 35.127.179 1.363 14.020 273.099.135 51.668.829 239.329 – – – – – – 10.1.409 2.301 Plant & Machinery on lease 1.304.832.518.805.221 1.664.884.655 41.182.033.993.599 138.317.196.056 Previous Year 3.660 – 83.367.255.456.697.856.070 99. 24.223. 2011 As at March 31.Nil (Previous Year Rs.799.899.809 3.056.119 Vehicles5 205.458 – – 296.680.792 981.616 17.733.696.479. 4 Gross Block includes assets aggregating Rs.866.6 Fixed Assets (Amount in Rs.057.570.032 14.192.432 127.322. Gross Block includes assets aggregating Rs.409 971.785.377 73.287.000.735 959.535 – 2.832 35.104 Furniture & Fixture 199.895 – – – 44.197.754 – 1.169 114.051.990.081.692.658 1.215 18.517 96.805.004.821. 45.505.522 16.136 (Previous Year Rs.003.54 New Delhi Television Limited Schedule to the Balance Sheet Schedule .924 42.185.059.190.101.899.911 47.129.590 Plant & Machinery Plant & Machinery (Main)3 1.068 – TOTAL 3.525.950.846 1.077.863 245.495.868. 2 Building as at April 1.378 869.573 – 28.256.633.001 – 204.993.754 136.202 – 1.869 7.888.400 – Plant & Machinery (Other) 96.406.004.867.368 60. 2011 Upto March 31.436 14.273.920 (Previous Year Rs.559.447 1.4.730 5.180 40.023 518.810 – Office Equipment 4 52.198.486 7.206 12.617 743.749 72.500.176) purchased under barter arrangements during the year.312.808.926.186.898 9.987 – 124.860.138 150.033.930) purchased under barter arrangements during the year.961.697 99.249.401 800.301.802 87.515 – 3.893 46.872 1.998 34.804.585 – – – 14.941.179 60.Nil) purchased under barter arrangements during the year.161 3.) Depreciation Deletion/ Adjustments As at March 31.307 – 44.547 Computers on lease 28.271.692.805.706.202 – 272.473 – 1.051 – – 113.998 8.2011 Net Block As at March 31. 13.437.388.745 54.287.775 143.3.791.389.063.400 406.581.189.993.980 – 462.021 771.580 – 1.390.875.775.16.391.879 1.213.993.689 17.371.391 – – 36.531.074.730.2010 (Note A-3.486 – Building 2 262.032 206.511.625 365. 6 Includes an amount of Rs.174.736.409 58.100 8.376 201.846 159.810 – Particulars As at April 01.925 – 495.Revaluation Deletion/ of Merger 7 ing the Year Reserve Adjustments As at March 31.325 942.712 471.840 24.810) purchased under barter arrangements during the year.667 30.122. 3 Gross Block includes assets aggregating Rs.036 1.765 – – – – – – – – 3.068.182 – 1.714.112.186.388.980 Computers 210.

) As at March 31.each Fully Paid Up 27.000 2.951.V.each Fully Paid Up Share Application Money 5.000 (Previous Year 55. 10/.252.V.000) Equity Shares of USD 1/.17.724.000.204.10/.300 (Previous year 299. Trade.000) Equity Shares of Rs. 2010 Amount ( Rs.081 (Previous Year 5.each Fully Paid Up 55.each Fully Paid Up 299. at Cost) Subsidiary Companies NDTV Media Limited – 850.000 (Previous Year Nil) Equity Shares of Rs.292.7 Investments (Note A-16 on Schedule 20 ) (Long Term.100/.each Fully Paid Up Nil (Previous Year 90) Equity Shares of Euro 100/.000 8.252.800 NDTV Networks Limited (Note B-4 and 6 on Schedule 20) – – 500.each Fully Paid Up 8.10/.000. 1 – – 5.500. Unquoted.000 NDTV B.081) Equity Shares of Rs. ) Schedule.700.1 – – – – – – 5.each Fully Paid Up 11.334 (Previous Year 11.000 Financial Statements 55 .960 NDTV Convergence Limited – 113.318 (Previous Year Nil) Equity Shares of Rs.300) Equity Shares of Rs.000 52.000 – – – NDTV News Limited 5 – Nil (Previous Year 5000) Equity Shares of Rs.000 (Previous Year Nil) Equity Shares of Rs.040.000 (Previous Year Nil) Non Cumulative Redeemable Preference Shares of Rs.each Fully Paid Up Others Emaar MGF Land Limited 3 – 362.1/.100/.each Fully Paid Up 50.500. 2011 Amount ( Rs.340 NDTV Emerging Market B.334) Equity Shares of Rs.each Fully Paid Up 85.each Fully Paid Up 10.each Fully Paid Up Nil (Previous Year 980) Equity Shares of Euro 100/.000 – – NDTV Worldwide Private Limited – 100.440 – Delhi Stock Exchange 4 – – 20.800 2.000 (Previous Year 850.500 62.10/.10/.745.340 113.Annual Report 2010-11 New Delhi Television Limited Schedules to the Balance Sheet As at March 31.810 Metronation Chennai Television Limited 2 NDTV One Holdings Limited – 2.204.10/.

) – 1.461 (Previous year Rs.692.092 2 3 4 5 6 During the year.565.524).475.000 210.419 (Previous Year 2. During the previous year.419) Equity Shares of Rs -10/. the erstwhile Jaiprakash Power Ventures Limited was amalgamated with Jaiprakash Hydro-Power Limited and the name of Jaiprakash Hydro-Power Limited was changed to Jaiprakash Power Ventures Limited. Trade.Nil) made for the diminution in the value. the Company has sold its stake in NDTV BV and NDTV Emerging Markets BV to NDTV Networks BV at the book value.951. Net of provision of Rs 20. The investment was sold to NDTV News Limited during the previous year and pursuant to the terms of the scheme of merger implemented as approved by the High Court merger scheme the said investment has been restored to the Company.000.810 (Previous year Rs.375 units (Previous Year Nil) of SBI Magnum Balance Fund. 2010 Amount ( Rs.682 210.485.422.10. Net of provision of Rs 52.Nil) made for the diminution in the value. at Cost) Others Jai Prakash Power Ventures Ltd 6 – 2. Quoted.113. 56 Financial Statements .007.000 (Previous year Rs.008. The management is of the opinion that the decline in the market value of investment is temporary and does not represent permanent diminution in the carrying value of investment. 182.each Fully Paid Up 3. Aggregate market value of Quoted investment as on March 31.008. Net of provision of Rs 39.692.262 1 As at March 31. 2011 Amount ( Rs.2011 is Rs. Net of provision of Rs Nil (Previous year Rs.Growth) (Long Term.682 362.040.199.125 (Previous year Rs. ) SBI Mutual Fund (35.Nil) made for the diminution in the value.008.380.300) made for the diminution in the value.Annual Report 2010-11 New Delhi Television Limited Schedules to the Balance Sheet As at March 31.

569. Further.408 (Previous Year Rs 232.541 Considered good 1 Considered doubtful 141.179.9 Sundry Debtors (Unsecured.658 1.652.340.465.786.035 920.495 Less: Provision for Doubtful Debts 3 1 2 3 298.794.188 2.10 Cash and Bank Balances Cash In Hand Balance With Scheduled Banks on – Current Accounts – EEFC Accounts – Fixed Deposits 1 1 1.614.565 1.569.456 8.562 674.044 Schedule.881.772) against letters of credit issued and bank guarantees.772 25.768 14.652.500) due from subsidiary companies Includes Rs 128.126.550. fixed deposits amounting to Rs 637.126.902.965 (Previous Year Rs.167.856 – 3.637.063.940 1.922.658) 1.024 Considered good 2 Considered doubtful 13. 2010 Amount ( Rs.095.179.150 Includes Rs 115.553. Nil) are under lien towards loan against deposits.311.688.200 – 313.367) due from subsidiary companies Includes Rs 62.956 (Previous Year Rs Nil) due from a subsidiary company Schedule.708 Other Debts 1.872. Considered Good unless otherwise stated) Debts Outstanding for a period exceeding six months 156.473 1. ) As at March 31.916. ) (Note A-9 & B-10 on Schedule 20) Stores & Spares Video Tapes Programmes under production and finished programmes 1.473.8 Inventories As at March 31.393 4.971.677. 3.410.367.203) 1.286 5.863.950 72.492.512.456.Annual Report 2010-11 New Delhi Television Limited Schedules to the Balance Sheet Schedule.168.519 (154.635 4.608 1.575.464.172.682 4.296. Financial Statements 57 .252.000 (Previous Year Rs.249 240.756 6.326.529 659. 2011 Amount ( Rs.371.461 Includes fixed deposits under lien Rs 200.879 (Previous Year Rs 141.200 (72.154.

882.055 56.268. 11.524) payable to subsidiary companies.682.025 – 160. ) As at March 31.654 – 2 Includes Rs.078 (Previous Year Rs. Nil due from Directors (Previous Year Rs.524).000).140.030 Includes Rs.682.291.000 1.574. 172. 11.217 42.423 2.992 – 48.932 629.831.930.882. 2010 Amount ( Rs. 36.599 (40.758.242 (10. 119.372.13 Provisions (Note B-22 on Schedule 20) Provision For Gratuity Provision for Other Employee Benefits 48.173.137.953).992 17.670.839. 100.317 Less: Provision for Doubtful Deposits (10.583. 22.628).245 20. ) (Unsecured and considered good unless otherwise stated) Advances recoverable in cash or kind or for value to be received 1.464.309 270. 400.670.677 759.333 204.674.163.222.027.000 due from an Officer of the Company (Previous Year Rs.398 509.674. Loans and Advances As at March 31.374.177 356. Schedule.715.038.000 1. Considered Good 190.317 11.Annual Report 2010-11 New Delhi Television Limited Schedules to the Balance Sheet Schedule.657 76.414.000) 204. 232.118 293.049.854.930.228.2 Unsecured.667 37. Maximum balance outstanding during the year Rs.464. 120.966 Less: Provision for Doubtful Advances (79.387.11 Other Current Assets.931.277.046.711. 160.253.117 7.668 58 Financial Statements .758.667 40.657 Considered Doubtful 79.12 Current Liabilities (Note B-23 on Schedule 20) Sundry Creditors 1 Other Liabilities Advances from Customers Security Deposit 1 835.007 5. Schedule.601.932 245.621)} Advance Fringe Benefit Tax {(Net of provision of Fringe Benefit Tax of Rs 172.036 474.611.155.574.081.654 282.453. Maximum balance outstanding during the year Rs.176 143.665 30.516.902 (Previous Year Rs.882.772 (Previous Year Rs.927.081.633 5.242 219.309) Security Deposits 86.953 (Previous Year Rs.640. Includes Rs. 2011 Amount ( Rs.654 Less: Provision for Doubtful Advances (111.633 662.482.774 56.311)} 1 190.654) Advance Income Tax {(Net of provision of Income Tax of Rs 131.000) Interest Accrued But Not Due Prepaid Expenses Loan to a Subsidiary 111.088.000 (Previous Year Rs.932) 48.

986 418.516.305 2.152.156.367.825.753.590 18.855 25.552.254 Schedule.15 Other Income Interest earned: – On Fixed Deposits {Gross of tax deducted at source Rs 6.157. 2010 Amount (Rs.301.845.355 7.852 166.326.527.206.702.864 21.2011 Amount (Rs.484 159.215 17.213 71.347 84.393.938 Financial Statements 59 .843.500.590.180 14.713.392.775.260 89.281 2.970.301 4.047 8.812.826 177.904.429 941.384.203 – – 53.100 – 118.005 13.260 3.914 8.659 582.691.) Schedule-14 Other Business Income Equipment Hire Subscription Revenue Shared Services Event Other Business Income 12.834.951 141.416 556.697.133.445.859.924 4.000 26.445.258.195 508.250 43.192.005 68.Annual Report 2010-11 New Delhi Television Limited Schedules to the Profit and Loss Account For the year ended March 31.102.806.605 89.16 Production Expenses Consultancy & Professional Fee Hire Charges Graphic.380.207 2.313.832 3.877 112.835 131.442 7.528 70.277 Schedule.353.998 10.971 24.431.536 (Previous Year Rs 106.944.964.743 4.424.007.559.516 19.742.608 87.226 58. Footage & News Service Software Expenses Transmission & Uplinking Sets Construction Panelist Fee Helicopter Running & Maintenance Travelling Stores & Spares Other Production 152.107 8.282.527.746 782.069.398 2.725. Music & Editing Video Cassettes Subscription .518.536.) For the year ended March 31.772 14.288 4.159.739 854.849 )} – On Income Tax Refund – On Loan to a Subsidiary Profit on Sale of Fixed Assets Foreign Exchange Fluctuation (net) Provision For Doubtful Debts Written Back Liabilities no longer required Written Back Rental Income Miscellaneous Income 55.030 5.003.145 75.627 676.405.093.887 15.

651.694 1.173.646 197.755 15.883 10.161.845.987.752 10.182 25.347.037 112.848.297 194.380.644.2011 Amount (Rs.849.812.076 19.767.944.196 1.100.367.735 32.17 Personnel Expenses Salary.389 4.655 10.910) Schedule.119 1.394 24.000) 25.132.556.824 Schedule.176 82.055.327. Wages & Other Benefits Contribution to Provident Fund & Other Funds Staff Welfare 1.941 117.979.281.612 (40.271.887 49. 2010 Amount (Rs.090.087 25.031 21.284 14.175 5.809.940.810.567.500.960.556.560.Net Subscription Expenses Brokerage & Commission Miscellaneous 174.926 49.240 57.248.224.925 13.602.510.288 89.751.475.458.000 21.369 51.892 1.527 4.928 17.531 924.864 5.976.943.283 8.750.107.612 89.) Schedule.455 852.543.733 21.318 3.784 3.674.731 69.662 35.790 1.973.924 1.061.764.534.366 286.131 55.540.493 161.169 1.668.575.861 27.290.450 73.764 3.239 53.784.165.375.684 61.) For the year ended March 31.222 9.789.316 19. periodicals and news papers Local conveyance .18 Operations & Administration Expenses Rent (Note B-17 on Schedule 20) Rates and taxes Electricity and water Bank charges Printing and stationery Postage and courier Books.151 173.634.887.579 79.000 3.596 5.008.235.848.322. travelling & taxi hire Business promotion Repair and Maintenance – Plant & Machinery – Building Charity and donations Auditors Remuneration (Note B-15 on schedule 20) Insurance Communication Vehicle Medical Generator hire and running Personnel Security Staff Training Provision for doubtful debts Provision for doubtful advances Bad Debt & doubtful advances written off Less: Adjusted with provision Legal.914.696.546 190.004 23.739.173.365 6.217 51. Professional & Consultancy Loss on Sale of Fixed Assets /Asset Written off Provision for diminution of Investment Foreign Exchange loss .518.698 15.409 201.Annual Report 2010-11 New Delhi Television Limited Schedules to the Profit and Loss Account For the year ended March 31.328.598 77.959 60 Financial Statements .431.508 (3.387 4.242.010.000.271.659 50.008 1.168.250 15.492.129.160 12.175.093.182.300 14.046 794.323 4.207.659 470.19 Interest and Finance Charges Interest on : – Term Loans – On Leased Assets (Note B-18 on schedule 20) – Others 22.241.

1956 and the relevant provisions of the Companies Act. income taxes. the applicable accounting standards notified under section 211(3C) of the Companies Act. Where no reliable estimate can be made. Depreciation is charged on a pro-rata basis for assets purchased/sold during the year. Use of Estimates In the preparation of the financial statements. which includes taxes. and the useful lives of fixed assets and intangible assets. (Refer Note B-24). Examples of such estimates include provisions for doubtful debts. Intangibles Intangible assets are recognised if they are separately identifiable and the Company controls the future economic benefits arising out of them. Tangible Fixed Assets Tangible Fixed assets except in the cases mentioned below are stated at the cost of acquisition. The management’s estimates of useful lives for various fixed assets are given below: Financial Statements 61 .000 are depreciated at the rate of 100% on a pro-rata basis.20 A. a disclosure is made as contingent liability. 3. 4. 5. Contingencies are recorded when it is possible that a liability will be incurred. Individual assets costing less than Rs. 2.The methods adopted for revaluation of the assets were as under: a) b) Land: Prevailing market rate of land as on the date of revaluation. Buildings: Based on rates available for Direct Comparison/Comparable Sale Method. Intangible assets are stated at cost less accumulated amortization and impairment. Fixed assets purchased under barter arrangements are stated at the fair market value as at the date of purchase. 2009. and the amount can be reasonably estimated. less depreciation and impairment. freight. duties. Land and buildings have been stated at an amount inclusive of appreciation arising on revaluation carried out by an independent valuer as at March 31. future obligations under employee retirement benefit plans. 1956. The Company follows the mercantile system of accounting and recognises income and expenditure on accrual and prepares its accounts on a going concern basis. Significant Accounting Policies Basis of Preparation The Financial Statements are prepared to comply in all material aspects with all the applicable accounting principles in India. insurance and other incidental expenses incurred for bringing the assets to the working condition required for their intended use. Depreciation/Amortisation Depreciation on fixed assets including intangibles is provided using the Straight Line Method based on the useful lives as estimated by the management.Annual Report 2010-11 New Delhi Television Limited Schedules to the Accounts Schedule . 5. A provision is recognised when there is a present obligation as a result of a past event in respect of which it is probable that outflow of resources will be required to settle the obligation and in respect of which a reliable estimate can be made. All other expenses on intangible items are charged to the profit and loss account. the management of the Company makes estimates and assumptions in conformity with the applicable accounting principles in India that affect the reported balances of assets and liabilities and disclosures relating to contingent assets and liabilities as at the date of the financial statements and reported amounts of income and expenses during the period. 1.

so as to obtain a constant periodic rate of interest on outstanding liability for each period. and it is reasonable to expect ultimate collection. 7. Lease rentals are charged to the Profit and Loss Account on a straight line basis over the lease term. Assets taken on leases where significant risks and rewards of ownership are retained by the lessor are classified as operating leases. 1956 after considering the impact of shift workings. Useful Life (years) 40 5-12 3-6 3-5 5-8 5 6 The rates of depreciation derived from these estimates of useful lives are higher than those mandated by Schedule XIV to the Companies Act. Leases Assets taken under leases. where the Company assumes substantially all the risks and rewards of ownership are classified as Finance leases. Each lease rental paid is allocated between the liability and the interest cost. 62 Financial Statements .Annual Report 2010-11 Asset Head Buildings Plant and Machinery Computers Office equipment Furniture and Fixtures Vehicles Computer Software Leasehold land are amortised over the period of lease. Typically the milestone is reached when the finished product has been delivered to or made available and accepted by the customer. Impairment of Assets The management periodically assesses using external and internal sources. Subscription Revenue from direct-to-home satellite operators and other distributors for the right to distribute the channels is recognised when the service has been provided as per the terms of the contract. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the asset’s net sales price or present value as determined above. 6. whether there is an indication that an asset may be impaired. Such assets are capitalised at the inception of the lease at the lower of fair value or the present value of minimum lease payments and a liability is created for an equivalent amount. Revenue from equipment given out on lease is accounted for on accrual basis over the period of use of equipment. Such revenues are recognised as the services are provided. Revenue from services provided is recognised when persuasive evidence of an arrangement exists. the consideration is fixed or determinable. Revenue Recognition Advertisement revenue from broadcasting is recognised net of agency commissions when the advertisements are displayed. Revenues from production arrangements are recognised when the contract period begins and the programming is available for telecast pursuant to the terms of the agreement. Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. 8. Interest Income is recognised on a proportion of time basis taking into account the principal outstanding and the rate applicable.

The Company provides for long term defined benefit schemes of gratuity on the basis of actuarial valuation on the Balance Sheet date based on the Projected Unit Credit Method. LIC assumes the obligation to settle the gratuity payment to the employees to the extent of the funding including accumulated interest. discount rate. the Company funds the benefits through annual contributions to Life Insurance Corporation of India (LIC). story costs. Gains / (losses) arising out of fluctuations in the exchange rates are recognized as income/expense in the period in which they arise. VHS Tapes VHS tapes. Betacam and DVC videotapes are charged off on issue to production. future salary increases. The Company recognises the actuarial gains and losses in the Profit & Loss Account as income and expense in the period in which they occur. The cost of purchased programmes is amortised over the initial license period. in process of production. Inventories Stores and Spares Stores and spares consist of blank videotapes and equipment spare parts and are valued at the lower of cost or net realisable value. is recognized as deferred stock compensation expense and is amortised over the vesting period on the basis of generally accepted accounting principles in accordance with the guidelines of Securities and Exchange Board of India. All monetary assets and liabilities denominated in foreign currency are restated at the year-end exchange rate. available for sale or purchased programmes) are stated at the lower of cost (which includes direct production costs. Employee Stock Based Compensation The Company calculates the employee stock compensation expense based on the intrinsic value method wherein the excess of market price of underlying equity shares as on the date of the grant of options/shares over the exercise price of the options/shares given to employees under the Employee Stock Option Scheme/ Employee Stock Purchase Scheme of the Company. The actuarial valuation of the liability towards the Gratuity Retirement benefits of the employees is made on the basis of assumptions with respect to the variable elements affecting the computations including estimation of interest rate of earnings on contributions to LIC. Cost is measured on a First In First Out (FIFO) basis. 12. and a reliable estimate can be made of the amount of the obligation. Post employment and other long term employee benefits: The Company’s contribution to State Provident Fund is charged to the Profit and Loss Account. Financial Statements 63 . other than Betacam and DVC videotapes. All non-monetary assets and liabilities are stated at the rates prevailing on the date of the transaction. Under this scheme. 10. are charged off as expense in the books at the time of their purchase. The Company charges to the profit and loss account the costs incurred on non-news programmes produced by themselves based on the estimated revenues generated by the first and the subsequent telecasts. acquisition of footage and allocable production overheads) or net realisable value. The Company recognises termination benefits as a liability and an expense when the enterprise has a present obligation as a result of a past event. Employment Benefits Short-term employee benefits are recognized as an expense at the undiscounted amount in the profit and loss account of the year in which the related service is rendered. Programmes under production and finished programmes Inventories related to television software (programmes completed. Foreign Currency Transactions Transactions in foreign currency are recorded at the rates of exchange in force at the time the transactions are effected.Annual Report 2010-11 9. 11. In respect of gratuity. it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation.

1961. historical transactions or comparable cash transactions. 16. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. Investments Current investments are valued at cost or fair value whichever is lower. may be documented in one or more contracts. Diluted EPS The net profit/ (loss) after tax and the weighted average number of shares outstanding during the year are adjusted for all the effects of dilutive potential equity shares for calculating the diluted EPS. In the normal course of business. the Company refers to independent appraisals (where available).Annual Report 2010-11 13. Earnings Per Share (EPS) Basic EPS The earnings considered in ascertaining the Company’s basic EPS comprise the net profit/ (loss) after tax. Other borrowing costs are recognised as an expense in the period in which they are incurred. Long term investments are stated at cost of acquisition. In determining their fair value. Dividend Dividends on equity shares and the related dividend tax thereon are recorded as a liability on proposal by the Board. Other deferred tax assets are recognized and carried forward to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. 14. the Company enters into a transaction in which it purchases an asset for business purposes or a service and/or makes an investment in a customer and at the same time negotiates a contract for sale of advertising to the seller of the assets or service. Arrangements though negotiated contemporaneously. Taxes on Income Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provisions of the Income Tax Act. 64 Financial Statements . if any. Barter Transactions Barter transactions are recognised at the fair value of consideration receivable or payable. the revenue/expense is measured at the fair value of the goods/services provided/received adjusted by the amount of cash or cash equivalent transferred. Assets which are acquired in the form of investments are recorded as Investments and accounted for accordingly. When the fair value of the transactions cannot be measured reliably. are adjusted against the value of investments. However. 15. Borrowing Costs Borrowing costs attributable to the acquisition. construction or production of a qualifying asset is capitalised as part of the asset. Deferred tax assets in respect of unabsorbed depreciation/brought forward losses are recognized to the extent there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Deferred tax is recognized on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws substantially enacted as on the balance sheet date. The Company’s policy for accounting for each transaction negotiated contemporaneously is to record each element of the transaction based on the respective estimated fair values of the assets or services purchased or investments made and the airtime sold. 18. 17. permanent diminutions. and based on the expected outcome of the assessment. as the case may be.

151 6. 4 each. The maximum tenure of these options granted is 7 years from the date of grant.12 to 63.79 Rs 4 2. the historical volatility of another entity within the same industry has been considered. 232. Notes to the Accounts Employee Stock Option Plan– ESOP 2004 The Company instituted the Employee Stock Option Plan – ESOP 2004 to grant equity-based incentives to all its eligible employees.50 to 5. dividend yield has not been considered.000 - 25% to vest each year over a period of 4 years. approved by the shareholders on September 19. 1.Annual Report 2010-11 New Delhi Television Limited Schedules to the Accounts Schedule -20 B. Being the interest rate applicable for maturity equal to the expected life of options based on zero-coupon yield curve for Government Securities.50 0%4 7 years Rs.20 50.13 In view of the non availability of adequate historical data for the Company.057 thousand options to employees of the Company by the ESOP Committee at an exercise price of Rs. The fair value of each stock option granted under ESOP 2004 as on the date of grant has been computed using BlackScholes Option Pricing Formula and the model inputs are given as under: Date of Grant Weighted average share price on the grant date Volatility (%) Risk free rate 2 (%) Exercise Price Time to Maturity (years) Dividend Yield Life of options Weighted average fair value of options as at the grant date 1 3 19-Sep-05 Rs 235. Vesting period and volatility of the underlying equity shares have been considered for estimation.000 5. The detail of options granted to employees under the ESOP 2004 is set out below. 2 3 4 Financial Statements 65 . Since the average price trend for earlier years was not available as the Company was listed in May 2004. 2005 provides for grant of 4. Date of Grant Market value on date of grant of the underlying equity shares Exercise Price Exercise Period Particulars Options outstanding at the beginning of the year Options granted Options forfeited Options exercised Options expired Options outstanding at the year end Options exercisable at the year end 1 19-Sep-05 235.2 Rs. representing one share for each option upon exercise.39 to 6. The ESOP 2004. 4 1-4 Years1 Current Year Previous Year 5.

2011 has been transferred to the Official Liquidator. NDTV 3.146. The balance deferred compensation expense is Rs Nil (previous year Rs Nil).30) (15. granted to them under ESOP 2004. The impact on the profit of the Company for the year ended March 31.373) – – (986. ‘000) Particulars Profit/(Loss) after tax as per Profit and Loss Account (a) Add : Employee Stock Compensation Expense (Net) as per Intrinsic Value Method Less : Employee Stock Compensation Expense (Net) as per Fair Value Method Profit/(Loss) after tax recomputed for recognition of employee stock compensation expense under fair value method (b) Basic Earnings per Share as computed on earnings as per (a) above (Rs) Diluted Earnings per Share as computed on earnings as per (a) above (Rs) Basic Earnings per Share as computed on earnings recomputed as per (b) above (Rs) Diluted Earnings per Share as computed on earnings recomputed as per (b) above (Rs) 2. SACAL has infused $ 40 million in two tranches to gain 49% stake in NLHPS and the balance 51% is held by NNL.250 (Previous Year 22. Accordingly. 10% direct stake in NDTV BV and 50% stake in Emerging Markets BV has been transferred to NDTV Networks BV. a subsidiary of Astro All Asia Networks Plc to create a strategic alliance for lifestyle channels in India. 2009 and provides for issue of 2. 1999. liquidation etc of its direct and indirect subsidiaries. Prior to this acquisition. 873 thousand (Previous year 1.Annual Report 2010-11 In accordance with the accounting treatment prescribed under the SEBI (Employee Stock option Scheme and Employee Stock Purchase Scheme) Guidelines. Subsequently. NDTV Studios Limited has become a 100% subsidiary of the Company. the Scheme was formulated in accordance with the SEBI (Employee Stock option Scheme and Employee Stock Purchase Scheme) Guidelines.26) (3. 2009 to the eligible employees and transferred the liability outstanding of Rs.26) During the year.764. NDTV Convergence Limited.each.425 shares issued on March 31. 2011 and control of all the assets and liabilities as at March 28. the Company instituted the Employee Stock Purchase Scheme 2009 (the “Scheme”) for compensating the aforesaid employees of the Company and its subsidiaries by granting shares thereunder. Pursuant to the agreement. 911 thousand (Previous Year Rs 135. Current year (986.540 Equity Shares to the Eligible employees of the Company by the ESPS Committee at an exercise price of Rs. 2011 with Star India Private Limited (“Star India”). 2011. 66 Financial Statements . NLHPS is the holding company of NDTV Lifestyle Limited which operates the ‘NDTV Goodtimes’ channel.2009) In view of the proposed restructuring of the Company and its subsidiaries.990) shares to be allotted under ESPS-2009. the Board of Directors of the Company accorded an approval for the simplification of the international structure of the NDTV Group by way of merger. 5. The Company has expensed Rs 39 thousand during the previous year as Employee Stock Compensation Expense. NGEN Media Services Private Limited.435) shares out of 1. Accordingly. 2011 is Rs. The liability outstanding in respect of Employee share purchase outstanding as at March 31.30) (15.741. 2011 and the basic and diluted earnings per share had the Company followed the fair value method of accounting for stock options is set out below: Amount (Rs. the existing arrangement for these services with AIDEM Ventures Private Limited has been discontinued. the Company and its subsidiaries NDTV Lifestyle Holdings Private Limited (“NLHPS”) and NDTV Networks Limited (“NNL”) have entered into an agreement with South Asia Creative Assets Limited (“SACAL”). During the year. the employees who had opted for the surrender of their stock vested/unvested/unexercised options. Accordingly.163) 40 40 (205. the Company acquired a 51% stake in NDTV Studios Limited from NDTV Group Employees´ Trust. With effect from April 1. 2010 with NDTV Networks BV. 4/. 1999. the liability outstanding as at the March 31.26) (3. Accordingly NNPLC has been put under liquidation on March 28. Nil). the Company has entered into a 5 year agreement dated March 29.163) (3.26) (3.30) Previous year (205.30) (15. 2011 in respect of Employee Stock Options outstanding is Rs Nil (previous year Rs.222 thousand) to securities premium account. a subsidiary of the Company. for exclusive representation for advertising sales for the Company’s news channels in India.373) (15. 2010. during the year the Company has allotted 11. Also. the shares held by NDTV Networks Plc (“NNPLC”) in NDTV Lifestyle Limited. On April 30. 4.785 thousand) towards 11. The Scheme was approved by the shareholders on March 10. Employee Stock Purchase Scheme 2009 (ESPS.740 (Previous Year 1. NDTV BV has been merged on October 15. Consequently. NDTV Labs Limited and Turner General Entertainment Networks Private Limited has been transferred to step down subsidiaries in India.

2010. The said order was filed with the Registrar of Companies. to the extent required: Capital Reserve created pursuant to the Scheme. The shares of the Transferor Companies in relation to the shares held by its members have been automatically cancelled. The net addition to Reserves in Schedule 3.e. Delhi & Haryana on December 17. 1961. NDTV Studio Limited was merged with the Company w. NDTV Studios Ltd is engaged in building studios.060. April 1. The entire share capital of all the Transferor Companies (equity or compulsorily convertible preference shares (CCPS) as the case may be) was held by the Transferee Company directly or indirectly through its subsidiary company(s).122. Scheme of Arrangement A) Merger of NDTV Studios Limited (and its Subsidiaries) and NDTV News Limited with the Company. – – – Financial Statements 67 . including reserves/securities premium and profit and loss of the Transferor Companies vested in it pursuant to this Scheme. property and liabilities of the Transferor Companies were transferred at their respective book values to and vested in the Transferee Company as a going concern in each case so as to become the properties and liabilities of the Transferee Company within the meaning of Section 2(1B) of the Income-tax Act. NDTV News 24x7 Limited. The salient features of the Financial Reorganisation are as follows: The debit balance of the Profit and Loss Account of the Transferee Company as appearing in its audited financial statements for the year ending March 31. and Securities Premium Account of the Transferee Company including Securities Premium Account of the Transferor Companies (pursuant to the Scheme).Annual Report 2010-11 Studios Limited was an associate of the Company. The salient features of the Scheme are as follows: The entire business and the whole of the undertaking(s). 2010.663. The amount by which the aggregate of the book value of assets (other than investments in Transferor Companies) of the Transferor Companies vested in the Transferee Company exceeded the aggregate of book value of liabilities. Therefore. 2010.f.267 4. the Company has given effect to the Financial Reorganisation as provided in the scheme. (i) During the year.e.537 385. Subsequently. NDTV Hindu Media Limited. i. (i) a) In accordance with the scheme. NDTV Delhi Limited and NDTV News Limited (collectively referred to a ‘Transferor Company) into the Company (‘Transferee Company’) with effect from the appointed date i. production facilities etc. at their respective book values as appearing in the books of the Transferor Companies on the appointed date. in the order specified. in accordance with the Scheme of Arrangement. 6.507. has been adjusted against the following. is arrived as under: Total Assets Total Liabilities & Reserves Net Addition to Capital Reserves B) 4. 2010 or created pursuant to this Scheme. Revaluation Reserve of the Transferee Company including Revaluation Reserve of the Transferor Companies (pursuant to the Scheme). 2010 has approved the Scheme of Arrangement (“Scheme”) for the merger of NDTV Studios Limited. NDTV India Plus Limited.602. New Delhi Television Media Limited. Accounting treatment: The merger of the Transferor Companies with the Transferee Company has been accounted for in accordance with the “Pooling of Interest Method”. NDTV Business Limited.e. the Transferee Company has not issued any shares or paid any consideration to any of the Transferor Companies or to their shareholders. April 1. the Transferee Company has recorded all the assets and liabilities. reserves after adjustment by way of cancellation of the total amount recorded as investments in the merging companies in the books of the Transferee Company has been credited to capital reserve account of the Transferee Company.730 (ii) a) b) c) d) e) Financial Reorganisation of Transferee Company by utilisation of reserves for adjustment of debit balance of profit and loss account. the Hon’ble High Court of Delhi in its order dated November 8.

946. 82. 2.822 150.’000) Particulars Commitment Total As at March 31. The Company has engaged reputed professional advisors to protect its interest and has been advised that it has strong legal positions against such dispute. in accordance with the Scheme of Arrangement. 2010 The Company has not created further deferred tax asset (net) as there is no virtual certainty supported by convincing evidence at this stage.244 As at March 31.227 8. no material liability is likely to arise on account of such claims/law suits.852) (91.564 thousand (Previous Year Rs.244 – – – – 167.000 thousand (Previous Year Rs 2.782.758 7. 9.448 204. 2010 1. Claims against the Company not acknowledged as debts: Rs. 2011 For the Year As at March 31. 2011 13. 82. Corporate Guarantee Rs Nil (Previous Year – Rs 80.392 167. The amount represents the best possible estimate arrived at on the basis of available information.198 As at March 31.564 thousand). The Company has received legal notices of claims / lawsuits filed against it relating to infringement of copyrights. This has been issued in the ordinary course of business.327 16.206 761. These have been issued in the ordinary course of business and no liabilities are expected.000 thousand) for partly securing a term loan and working capital facility sanctioned by a bank to a subsidiary Company. In the opinion of the management supported by legal advice.’000) Particulars Deferred tax assets on account of Accumulated Losses Provision for Expenses Provision for Doubtful Debtors Total deferred tax assets Deferred tax liability on account of Depreciation Total deferred tax liability Net Deferred Tax Asset/ (Liability) (91.905 thousand). is arrived as under : Particulars Capital Reserve Revaluation Reserve Securities Premium Total Amount (Rs) 385.198 13.469 20.730 225. not provided for (net of capital advances) Amount (Rs.448 204. The uncertainties and possible reimbursements are dependent on outcome of the legal process and therefore cannot be predicted accurately. trademarks and defamation suits in relation to the programmes produced by it. Deferred Taxes Significant components of deferred tax assets and liabilities are shown in the following table: Amount (Rs.327 16. Estimated amount of contracts remaining to be executed on capital account. Contingent Liabilities not provided for in respect of: a. Bank Guarantees issued for Rs.227 1. c.469 20.233.Annual Report 2010-11 b) The reduction in the debit balance of profit and loss account. d. b.392 – – – (91.852) (91. that sufficient future taxable income will be available against which such deferred tax asset can be realised.852) 112.852) 112. 68 Financial Statements .602.

638 – 2.5 100 Imported Amount (Rs. 2010 Quantity (in No’s) Amount (Rs. Quantitative details for Video tapes Year ended March 31. Financial Statements 69 .076 61 2.’000) 2563 % 97.638 – 2.’000) Tapes Stores & Spares 169 1.838 – 3.’000) Year ended March 31.421 % 93. Segment Reporting The Company operates in the single primary segment of television media and accordingly. 2011 Particulars Opening Stock BETACAM DVC Purchases BETACAM DVC Consumed BETACAM DVC Closing Stock BETACAM DVC – 2.214 – 921 – 3. there is no separate reportable segment. 2010 Particulars Indigenous Amount (Rs.624 238 % 100 100 12.316 357 9.3 100 Imported Amount (Rs.’000) 2.652 61 1.861 Total % 100 100 61 238 % 2.’000) 11.579 80 4.168 6 2.590 1.Annual Report 2010-11 10.949 161 3. Consumption Details For the year ended March 31.721 4 909 Quantity (in No’s) Amount (Rs.563 363 9. 2011 Particulars Indigenous Amount (Rs.5 Amount (Rs.’000) Tapes Stores & Spares For the year ended March 31.032 165 2.861 % 6.7 Total Amount (Rs.’000) 2.168 80 6.’000) 2.

Annual Report 2010-11 13. 7.f Feb 23.e. NDTV News 24X7 Limited 28. 2010 (Previous year Associate Company) Merged with Company w. 2010 (Previous year Associate Company) Merged with Company w.e. 5.e. 2010 (Previous year Associate Company) Associate Company till April 30. NDTV Four holdings AB 21. NDTV (Mauritius) Media Limited 22. 4. NDTV Business Limited 29. 2010 Associate Company till April 30. 2010. 2010 (Note B-6 on Schedule 20) Subsidiaries (Direct/ Indirect) 10. 2010) Incorporated during the year Incorporated during the year Merged into NDTV Networks BV w. where control exists or with whom transactions were carried out during each year and description of relationship as identified and certified by the Company as per the requirements of Accounting Standard – 18.f March 28.f April 1. NDTV Worldwide Private Limited Joint Venture 33. NDTV Three Holdings Limited 20. Imagine Showbiz Limited 12. 2011. New Delhi Television Media Limited 30. 2011.e. 2010) (Ceased to be a subsidiary w.e. 3. 2010) (Ceased to be a subsidiary w. Merged into the Company w. Placed under Liquidated w. 2010) (Ceased to be a subsidiary w.f Feb 23. Alliance Lumiere Limited 11.f April 1.e. NGEN Media Services Private Limited 70 Financial Statements .e. Metronation Chennai Television Limited 17. NDTV Worldwide Mauritius Limited 26. 2010 Merged with Company w. 8.f April 1.f April 1. NDTV Media Limited NDTV News Limited NDTV Emerging Market BV NDTV BV NDTV Networks BV NDTV Networks PLC NDTV Convergence Limited NDTV Labs Limited Turner General Entertainment Networks India Limited (Formerly NDTV Imagine Limited) (Ceased to be a subsidiary w. 2010 (Previous year Associate Company) Merged with Company w. NDTV Studios Limited 24. NDTV Imagine Pictures Limited 13. 32. Names of related parties. 9.e. Merged with Company w.f March 23. NDTV Lifestyle Limited 15.f April 1. 2010 (Previous year Associate Company) Merged with Company w.f December 24.e.e.f October 15. NDTV Two Holdings Limited 19. 1. NDTV India Plus Limited 27. Related Party Transactions I. 2010 (Previous year Associate Company) Associate Company till April 30.f Feb 23. NDTV (Mauritius) Multimedia Limited 25. 6.e.e.f April 1.e. NDTV Hindu Media Limited 31 NDTV Delhi Limited Placed under Liquidation Placed under Liquidation Liquidated w.f April 1. NDTV Lifestyle Holdings Private Limited 14. 2010 Liquidated w.e. 2010 (Previous year Associate Company) Merged with Company w. NDTV Networks Limited (Formerly NDTV Networks Private Limited) 16. 2011. NDTV Middle East Ventures FZ LLC 23.f Feb 23.e.f April 1.e. 2010 Liquidated w. NDTV One Holdings Limited 18.f March 25. 2.e.

193 9.064 1.453 8.L.894 3.029 1.531 127. ‘000) Associate Key Management Total Personnel – – 20.304 1.100 – – – – – – – – – – – – – – – – – – – – – – 20.772 24.752 – – 10.101 5.280 – – 129 – – – – – – – – – – – – – – – – – – – – – – – – – – 20.273 12.982 37. Prannoy Roy Radhika Roy K.673 1.696 Amount (Rs.378 3.011 8.502 13.696 Chairman Managing Director Whole Time Director 2 3 4 5 6 7 8 9 10 11 Financial Statements 71 .029 18. Radhika Roy Mr.667 18.No Nature of relationship / transaction 1 Rendering of services NDTV Lifestyle Limited Metronation Chennai Television Limited NDTV Worldwide Private Ltd Others Trade Mark / Royalty Received NDTV Convergence Limited NDTV Lifestyle Limited Others Services availed of NDTV Lifestyle Limited Others Remuneration paid (Refer Note 14 (i) below) Dr.100 145.834 137 5. 2011 S. Narayan Rao II.011 6.062 73 64.889 9.011 6.378 – – 3.752 10.218 9.280 129 – – – – 145.132 1.011 8.029 18.273 12.132 1.304 1.409 64.772 24.667 18.834 – – 137 – – 5.531 127.101 – – 5.894 – – 3.409 – – 64.502 13. K V L Narayan Rao Payment made on behalf of others NDTV Lifestyle Limited Others ESOP cost reimbursed NDTV Lifestyle Limited Rent Metronation Chennai Television Limited Shared service income NDTV Convergence Limited NDTV Lifestyle Limited Metronation Chennai Television Limited Others Shared service cost NDTV Labs Limited NDTV Lifestyle Limited Rental income NDTV Convergence Limited NDTV Lifestyle Limited Others Programs purchased NDTV Lifestyle Limited Others Subsidiary Companies 20.189 7.062 – – 73 – – 64.132 82.Annual Report 2010-11 Associate Company 34.218 9.122 6.029 – – 1.V. Astro Awani Networks Limited Key Management Personnel and their relatives Dr.064 1.673 13.343 969 374 18.189 7.982 37.453 8.673 1.193 9. Disclosure of Related Party Transactions: Details of transactions in the ordinary course of business for the year ended March 31.122 6.132 82.889 9.343 969 374 18.673 13. Prannoy Roy Mrs.

719 148.028 33.225 4.188 30.503 3.500 68.239 187.193 10.861 52.810 – – 12.980 5.679 5.225 77.235 231.607 151.588 8.448 23.483 16.278 19.500 – – 68.917 – – – – (14.278 19.980 18.433 – 29.887 – – 1.389 2 3 4 5 6 7 72 Financial Statements .300 – – 58.205 27.193 58.861 – – 52.219 3.464 77.935) 32.671 947 – 5.500 3.300 58.040 Amount (Rs.832 77.040 – – 52.746 – – 173.040 Amount (Rs.No 1 Nature of relationship / transaction Rendering of services NDTV Lifestyle Limited NDTV Imagine Limited Metronation Chennai Television Ltd Others Trade Mark / Royalty Received NDTV Lifestyle Limited NDTV Imagine Limited Others Services availed of NDTV Lifestyle Limited NDTV Media Limited Others Remuneration paid (Refer Note 14 (i) below) Dr. K V L Narayan Rao Payment made on behalf of others NDTV Lifestyle Limited NDTV Imagine Limited NDTV Studios Limited Others Rent NDTV Studios Limited Others Shared service income NDTV Lifestyle Limited NDTV Imagine Limited NDTV Convergence Limited NDTV Emerging Market BV Metronation Chennai Television Limited Others Subsidiary Companies 31.861 173. ‘000) Associate Key Management Total Personnel 947 – 32.588 – – 8.Annual Report 2010-11 S.229 37.645 – – 10.809 – – 5.326 81.007 – – 212 10. ‘000) Associate Key Management Total Personnel – – 1 – – 1 – – 3.307 16.300 – – 3.239 – – 187.679 5.671 4.980 18. Prannoy Roy Mrs.448 23. Radhika Roy Mr.377 11.483 16.607 145.193 10.555 – – 62.809 5.300 3.710 – – 1.205 33.573 113.980 5.872 9.872 – – 9.433 (16.472) – – (16.577 Details of transactions in the ordinary course of business for the year ended March 31.225 – 6.719 – – – – – – – – – – – – – – – 30.028 – – 33.500 – – 3.417 37.324 – – 11.397 24.307 16.887 1.555 62.101 113.007 212 10.235 – – 231.188 – – – – – 6.917 – – – – 162.862 4.397 24.040 52.450 – – 3.746 173. 2010 S.645 10.935) 2.219 – – 3.607 – 4.No Nature of relationship / transaction 12 13 14 15 16 17 18 19 Sale Of Goods/ Assets/Purchases NDTV Worldwide Private Ltd Programs sold NDTV Lifestyle Limited Others Interest income Metronation Chennai Television Limited Loan given Metronation Chennai Television Limited Loan received back Metronation Chennai Television Limited Sale of investment NDTV Emerging Market BV NDTV Networks BV Provision for doubtful debts & advances Metronation Chennai Television Limited Provision for diminution in Investment Metronation Chennai Television Limited Subsidiary Companies 1 1 3.710 1.810 12.861 – – 173.193 – – 58.

No Nature of relationship / transaction Debit balances outstanding as on 31 March 2011 Outstanding Receivable Loan given (gross of provisions) Credit balances outstanding as on 31 March 2011 Outstanding Payable Subsidiary Companies 1 2 244.039 Amount due to/from related parties as on March 31.934 – 11.127 1.136 309 19. Subsidiary Companies 3.385 – 223.471 – – 8.595 – – 530 – – 1.456 11.355 – – 56.278 11.276 – – 2.697 – – 2.136 – – 309 – – 19.882 17. ‘000) Associate Key Management Personnel Total 1 2 373.855 3.355 3.276 2.855 – – 3.846 2.355 45.355 – – 45.682 – – – – 244.697 – 79.846 – – 2.438 56.039 – – 160.574 – 403.882 1 119. 2010 S.682 1 160.595 530 1. 2011 S.456 – 11.238 – – 22.071 6. ‘000) Associate Key Management Total Personnel – – 3.471 8.930 56.883 45.697 – – – – – 79.278 – – 11.238 22.Annual Report 2010-11 S.385 111.855 Amount (Rs.127 – 2.No 8 Nature of relationship / transaction Shared service cost NDTV Imagine Limited NDTV Convergence Limited NDTV Labs Limited Others Rental income NDTV Lifestyle Limited NDTV Imagine Limited NDTV Convergence Limited NDTV Labs Limited Programs purchased NDTV Lifestyle Limited Others Programs sold NDTV Lifestyle Limited Others Interest income Metronation Chennai Television Ltd Others Loan given NDTV News Limited Metronation Chennai Television Ltd Loan received back NDTV News Limited Equity contribution Metronation Chennai Television Ltd 9 10 11 12 13 14 15 III.355 – – 3.127 – – 1.697 2.855 Amount (Rs.385 111.234 222 1.570 – – 1.570 1.355 56.No Nature of relationship / transaction Debit balances outstanding as on 31 March 2010 Outstanding Receivable Loan given Credit balances outstanding as on 31 March 2010 Outstanding Payable Subsidiary Companies Amount (Rs.234 – 222 – – 1. ‘000) Associate Key Management Personnel Total Amount due to/from related parties Amount due to/from related parties as on March 31.047 104.127 – – – – – 2.883 – – 45.432 Financial Statements 73 .071 – – 6.

973 Year ended March 31. Amount (Rs. the Company has agreements with its subsidiaries. 2010 3.’000) Particulars (ii) Sitting fees (iii) Non.969 1. Under the said agreement the charge-outs will be at agreed rates. 13. Director Fees and Ex-Gratia aggregating Rs 61.’000) Year ended March 31.000 Year ended March 31. legal and regulatory compliance.558 75 14. Separate service level agreements (SLA) have been entered into for providing finance and accounting. Amount (Rs.288 thousand) from its overseas subsidiaries. Directors’ Remuneration (i) Wholetime Directors’ Remuneration Particulars Salary and Other Allowances Contribution to Provident and Other Funds Ex gratia Perquisites Total 2 1 Amount (Rs.com.6791 Includes Remuneration amounting to Rs. 2010 14. NDTV Labs Limited (Labs).500 245 228 3. Directors’ have received Director Fees aggregating Rs.500 15. 2010 540 – 3 Payment made to Non-Executive Directors for the year ended March 31. MIS.077 30.822 1. 2011 580 5. NDTV Networks Plc (NNPLC). 2011 17.’000) Year ended March 31.626 75 599 20. NDTV Convergence Limited and NDTV Lifestyle Limited (Lifestyle) (Collectively referred to as NDTV Group Companies). 2009 and March 31. 8. In addition. Shared Services Agreements under which the Company has agreed to provide specified shared services on an arms’ length basis to the group Companies.Annual Report 2010-11 IV. 2011 3. Other Key Agreements In order to leverages the existing resources of NDTV and also to ensure economies of scale.303 thousand paid to Directors that exceeds the minimum remuneration payable due to inadequacy of profits. b) c) 14. human resource.500 3. The Company has been allotted fixed airtime in lieu of banner on NDTV. satellite up linking services at a consideration to be ascertained for each specific service.122 Year ended March 31.Executive Directors’ Remuneration 3 2 Year ended March 31. including quarterly audits Certification Out-of-pocket-expenses Total 1 1 Excluding service tax 74 Financial Statements . 2010 for which Company has obtained Central Government and shareholder’s approval. Auditors’ Remuneration Description As Auditors. subject to Central Government‘s Approval. The key agreements that the Company has entered into are: a) Co-operation agreement under which the companies have mutually agreed to grant exclusive royalty free licence to use any programme footage or news content whether created or owned by company for up to three minutes subject to the same being used in a NDTV branded channel and has also granted right of first refusal to the others with respect to licensing of distribution rights to any programme or news content except for programmes which are made specifically for a third party.509 thousand (previous year received payment on account of dilution on conversion of CCPS of a subsidiary. Cross Channel Promotion Arrangement under which the NDTV Group companies have agreed to implement a common cross channel promotion agreement.

2011 are as follows: Amount (Rs.372.810) (3.622 (205.) Nominal Value per share (Rs) Year Ended March 31.470. Total Financial Statements 75 .906 – 1. The Company has also taken residential/commercial premises on lease which are non-cancellable period. 2010 Minimum Lease payments 22.’000) Particulars Payable not later than 1 year Total minimum lease payments As at March 31.435 64.592 (986. 2010 5.945.471. plant & machinery and computer software under finance lease arrangements.780 476 4.26) 4 17. The future minimum lease payments in respect of such leases are as follows: Amount (Rs.30) 4 Year Ended March 31. in respect of operating leases was Rs.976 thousand (Previous Year Rs 197.314 29.10. 2011 10.’000) Year ended March 31.256 18.023 Future Present value interest of minimum payable lease payments 3.929 5. 2010 62.163.202 Payable not later than 1 year Payable later than 1 year and not later than 5 year Total minimum lease payments 19.459.592 – 64.527 11.622 – 62.767 Amount (Rs.2010 944 944 18.945. Earnings in Foreign Currency (On Cash Basis) Particulars Advertisement Revenue Subscription Revenue Other Business Income – Consultancy fees etc.459. Operating Leases i) ii) iii) The Company has taken various residential/commercial premises/Vehicles under cancellable operating leases. ‘000s) As at March 31.477 – 15.Annual Report 2010-11 16. 2011 64.105 76.383 – 17.740 64.) Adjustment for dilutive effect of share options granted Weighted average number of Equity Shares outstanding during the year for Diluted EPS (Nos. Finance Leases The Company has taken computer equipment.276 148.) Profit / (loss) attributable to Equity Shareholders (Rs.425 1.) Diluted Earnings per Equity Share (Rs.746.314 Year ended March 31.906 15. The future lease payments in respect of such lease obligations as at March 31.038 – 158.477 As at March 31.26) (3.603) (15.105 As at March 31. Earnings / (Loss) per share (EPS) Description Number of equity shares outstanding at the beginning of the year (Nos.383 Future Present value interest of minimum payable lease payments 1.267 64.470.) Basic Earnings per Equity Share (Rs.092 1.543 thousand).713.709 6.) Add: Fresh issue of equity shares (Nos) Number of equity shares outstanding at year end (Nos.) Weighted average number of Equity Shares outstanding during the year for Basic EPS (Nos. 174.30) (15.084 693 116.527 62.838 24. 2011 Particulars Minimum Lease payments 17. The rental expense for the current year.2011 76.

Employee Benefits The Company has accounted for the long term defined benefits and contribution schemes as under: (A) Defined Benefits Scheme The Company provides for long term defined benefit schemes of gratuity on the basis of actuarial valuation on the balance sheet date based on the Projected Unit Credit Method.495 1.270 51.562) 103.320 208.932 10.’000) Particulars I Changes in the Present value of the Obligation: Obligations at year beginning Service Cost – Current Service Cost – Past Interest Cost Actuarial (gain) / loss Benefit Paid Obligations at year end Change in plan assets: Plan assets at year beginning.863 3.805 34.827 II 76 Financial Statements . The actuarial valuation of the liability towards the Gratuity Retirement benefits of the employees is made on the basis of certain assumptions with respect to the variable elements affecting the computations including estimation of interest rate of earnings on contributions to LIC.906) 51. 2011 38.546) 72.880 5.235 (189) (1. CIF value of imports Particulars Capital Goods Equipments stores and spares Video Tapes Total Year ended March 31.051 (7.562) 54.Annual Report 2010-11 20.037 55. 2007 72. In respect of gratuity.793 – 5. etc) Total 22.955 4. 2010 173. Expenditure in Foreign Currency (On cash basis) Particulars Subscription. The reconciliation of opening and closing balances of the present value of the defined benefit obligations are as below: Amount (Rs. at fair value Expected return on plan assets Actuarial gain / (loss) Contributions Benefits paid Plan assets at year end.507 9.373) (4.134 11.955 63.175 52.546) 55.733 37.596 3.938) (12.821 (399) – (4.768 25. 2010 31. 2011 98.’000) Year ended March 31.507 50.827 4.989) 50.404 34.694 27. The Company recognises the actuarial gains and losses in the profit & loss account as income and expense in the period in which they occur. 2009 31.842) 63. at fair value For the Year For the Year For the Year For the Year For the Year ended March ended March ended March ended March ended March 31.832 1 10. hire charges.071 28.087 46.813 (7.010 (5.501 286.244 Amount (Rs.292 21.175 4.934 7.755 – 5.097 69.158 (1.996 – 4.048 25.434 – 5.678 (30) 2.907) (5. 2008 31. the Company funds the benefits through annual contributions to Life Insurance Corporation of India (LIC).527 Year ended March 31. Uplinking and news service charges Repairs & Maintenance Travelling expenses Consultancy and Professional fees Other expenses (including production expenses.932 44.774 (7.130 Amount (Rs.842) 44.019) (2.097 4.221 22.548 6.255 11.134 40.906) 77.146 169 4.989) 69.’000) Year ended March 31.270 11.595 (2.855 (12.957 77.302 12.666 10 3.022 (2. 2010 12. 2011 31.393 27.

793 – 5.508 51.434 – 5.99% 7. 51.50% Expected return on plan assets 8.’000) Particulars Reconciliation of present value of the obligation and the fair value of the plan assets: Present value of the defined benefit obligations at the end of the year Fair value of the plan assets at the end of the year Liability recognised in the Balance Sheet IV Defined benefit obligations cost for the year Service Cost – Current Service Cost – Past Interest Cost Expected return on plan assets Actuarial (gain) / loss Net defined benefit obligations cost V III For the Year For the Year For the Year For the Year For the Year ended March ended March ended March ended March ended March 31. C) Provision for other Employee Benefits: Provision for other employee benefit represents termination benefits paid/payable as per the policy of the Company Financial Statements 77 . 2008 31. 2010 31.757 63.50% 5.666) (2.270 55.939) 2. take account of inflation. (B) State Plans: The Company deposits an amount determined at a fixed percentage of Basic pay every month to the state administered provident fund for the benefit of the employees.188) 5. 2007 103.678) (159) 8. The demographic assumptions were as per the published rates of “Life Insurance Corporation of India (1994-96) Mortality Table (ultimate).30% 9. seniority.25% 9.50% 5.832) (7.476 10.235 (3.932 50.821) (6.394 Investment details of plan assets 100% of the plan assets are lying in the Gratuity fund administered through Life Insurance Corporation of India (LIC) under its Group Gratuity Scheme.307 11.996 – 4.30% 9. 2009 31.917) 8.957 48.805 11.048 25.907 9.039 54.774 (4.849 thousand). promotion and other relevant factors such as supply and demand factors in the employment market.50% 8% 8% 8% Future salary increases 5% 5% 5.553 69.146) (7. VI The principal assumptions used in determining post-employment benefit obligations are shown below: Discount Rate 7.Annual Report 2010-11 Amount (Rs.472 7.880 5. Accordingly. 55.755 – 5.813 (4. 2011 31. the Company’s contribution during the year that has been charged to revenue amounts to Rs.955 25. considered in actuarial valuation.134 44.595 (4. which is considered a standard table.175 19.051 (4.974) 30.75% 9.097 17.827 18.00% The estimates of future salary increases.173 77.241 thousand (Previous Year Rs.082 72.

2011 Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer Dr. the Company is confident of its ability to continue operations for the foreseeable future and accordingly the accounts of the Company are prepared on a going concern basis. 3. Figures for the current year include those of the merged entities (Note 6 above). along with the amount of the payment made to the suppliers beyond the appointed day during the year. 2011 Interest due thereon as on 31st March. 27. Figures of the previous year have been regrouped wherever necessary to conform to current year’s figures. the Company has recast its business plans and streamlined operations. 24. the current year figures are not comparable to those of the previous year. 2011 Further interest remaining due and payable even in the succeeding years. 2006. The management confirms that all international transactions with associate enterprises were undertaken at “Arms length basis”. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director 78 Financial Statements . Adjustments. Nil Nil Nil 4 Nil Nil Nil 5 6 Previous Year figures Rs. Small and Medium Enterprises Development Act.030 thousand (Previous Year Rs.5. For and on behalf of the Board For Price Waterhouse Chartered Accountants Firm Registration No: FRN007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing: New Delhi Date: May 3. Interest accrued and remaining unpaid as on 31st March. 26. in respect of transactions with group companies for the year will be completed before the filing of the tax return for the assessment year 2011-12.No. 2011 Interest paid by the Company in term of Section 16 of the Micro. Small and Medium Enterprises Development Act. if any arising from the transfer pricing study shall be accounted for as and when the study is completed. Nil. The transfer pricing study under the Income Tax Act. Particulars 1 2 3 Principal amount remaining unpaid as on 31st March.130 thousand) relates to interest for the month of March paid subsequently as the same was not debited by the bank as on March 31st. Small and Medium Enterprises Development Act. Keeping the current economic environment and other factors in mind. 25. Based on the responses received from the vendors the Company has determined the required disclosures as below: Amount in Rs S. 2006.Annual Report 2010-11 23. Accordingly. Interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under the Micro. until such date when the interest dues as above are actually paid to the small enterprise. Based on these actions and its business plans. 2006. Small and Medium Enterprises under the Micro. Interest accrued and due amounting to Rs. During the year the Company has sought status confirmation from its vendors to classify them as Micro.

8 2 3 0 9 0 Total Expenditure : Profit/(Loss) after tax : Dividend Rate (%) : 4 0 9 9 8 9 6 2 3 N 1 7 I 6 3 L Generic Names of Three Principal Products / Services of the company (as per monetary terms) Item Code No. For and on behalf of the Board Dr. Expenditure : 1 8 1 0 1 3 2 0 3 N 2 9 I 4 2 L Investments : Net Current Assets : Accumulated Losses : 3 1 0 2 9 0 8 8 8 2 6 1 2 3 9 0 7 9 8 3 1 2 8 5 0 7 3 8 7 N 8 2 I 5 9 L Reserves & Surplus : Unsecured Loans : ESPS Outstanding : 5 1 2 9 7 N 8 0 I 7 8 L 4 7 1 9 2 1 N N I I 4 L L 7 Rights Issue : Private Placement : N N I I L L III. Thousands) Public Issue : Bonus Issue : Preferential Offer of Shares under Employee Stock Option Plan Scheme* Total Liabilities : Source of Funds Paid-up-Capital : Secured Loans : Deferred tax liability : Application of Funds Net Fixed Assets : Deferred Tax Assets : Misc. (ITC Code) Product Description N A T E I O N V I A N D B R O A D C A S T I S O F T W A R E N G T E L S I O N P R O D U C O F *Issue of shares arising on the exercise of options/shares granted/issued to employees under the Company's ESOP 2004/ESPS 2009 Plan. Performance of Company (Amount in Rs.) V. U 5 9 5 0 3 Month 2 0 1 Year 1 2 1 1 1 D L 1 9 8 8 P L C 0 3 3 0 9 9 3 1 Date Capital Raised During the Year (Amount in Rs. State Code : Balance Sheet Date : II. 2011 Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer Financial Statements 79 . Position of Mobilisation and Deployment of Funds (Amount in Rs.Annual Report 2010-11 New Delhi Television Limited Balance Sheet Abstract and Company’s General Business Profile I. 3 6 9 3 4 1 8 9 5 4 2 . Thousands) 9 5 Total Assets : 7 1 9 2 1 9 5 IV. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Place of Signing: New Delhi Date: May 3. Thousands) Turnover : Profit/(Loss) before Tax : Earning Per Share (Rs. Registration Details : Registration No.

Annual Report 2010-11 New Delhi Television Limited Consolidated Financial Statements 80 Financial Statements .

of the cash flows of the Group for the year ended on that date.882 thousand). these amounts are to be refunded by such directors.3. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. 3. which we have signed under reference to this report. In our opinion and to the best of our information and according to the explanations given to us.708 thousand) and Reserves & Surplus to be Rs.928. of the loss of the Group for the year ended on that date: and in the case of the consolidated Cash Flow Statement.303 thousand for the previous years being subject to approval by the Central Government.839.4.915.057 thousand (as against the reported figure of Rs. In the event that the Central Government approval is not received.F 084451 Place of Signing : New Delhi Date : May 3. 5. An audit also includes assessing the accounting principles used and significant estimates made by management.Financial Reporting of Interests in Joint Ventures notified under Section 211(3C) of the Companies Act. 8. Financial Statements 81 .046 thousand for the current year and Rs. the related consolidated Profit and Loss Account and the consolidated Cash Flow Statement for the year ended on that date annexed thereto. 2011. These consolidated financial statements are the responsibility of the Company’s management.2.FRN 007568S Chartered accountants Anupam Dhawan Partner Membership No .738. its jointly controlled entity and associate company. For Price Waterhouse Firm Registration No . 2.879 thousand). We report that the consolidated financial statements have been prepared by the Company’s management in accordance with the requirements of Accounting Standard (AS) 21 . 1956. We believe that our audit provides a reasonable basis for our opinion. of the state of affairs of the Group as at March 31. in the case of the consolidated Profit and Loss Account. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. 3.Consolidated Financial Statement and Accounting Standard (AS) 27 .231 thousand (as against the reported figure of Rs. This would then result in the loss after Taxation for the year to be Rs. We conducted our audit in accordance with the auditing standards generally accepted in India.826. on a test basis. 4. evidence supporting the amounts and disclosures in the financial statements.833 thousand (as against the reported figure of Rs 1. give a true and fair view in conformity with the accounting principles generally accepted in India: (a) (b) (c) in the case of the consolidated Balance Sheet. net current assets to be Rs. 1.Annual Report 2010-11 Auditor’s Report on the Consolidated Financial Statements of New Delhi Television Limited The Board of Directors of New Delhi Television Limited 1. We refer to note on B-16 of Schedule 21 regarding managerial remuneration amounting to Rs. An audit includes examining. 2011 2. as well as evaluating the overall financial statement presentation. 2011.734. We have audited the attached consolidated Balance Sheet of New Delhi Television Limited (the “Company”) and its subsidiaries. hereinafter referred to as the “Group” (refer Note B-1 on Schedule 21 to the attached consolidated financial statements) as at March 31. the attached consolidated financial statements and subject to the matter referred in paragraph 4 above.

761.651.148. Loans and Advances Inventories Sundry Debtors Cash and Bank Balances Other Current Assets. Loans and Advances Less : Current Liabilities and Provisions Current Liabilities Provisions Net Current Assets Profit and Loss Account Miscellaneous Expenditure Significant Accounting Policies and Notes to the Accounts This is the Consolidated Balance Sheet referred to in our report of even date As at March 31.) 1 2 3 4 5 257.803.480. 2010 Amount (Rs.321.838.261.555 1.883.891 1.861 59.972 2.701 – 6.096.976.351.488.605 3.826.811 6 4.152 3.841 1.145.708.571 1.915.912.933 1.163.894.884. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer 82 Financial Statements .458 112.) As at March 31.881.173 4.754 48.391.246 72.294 – – 9.656.539 4.048.435.Annual Report 2010-11 New Delhi Television Limited Consolidated Balance Sheet as at March 31.375.301.800 1.762 1.897 2.480.285.200.000 6.295.854.501.393.087 821.537.480.781.589. 2011 Amount (Rs.324.293 611.744 1.040 49.268.211 3.383 1.640.892.423.924.048.893.174.523 14 21 The schedules referred to above form an integral part of the Consolidated Balance Sheet For and on behalf of the Board For Price Waterhouse Chartered Accountants Firm Registration No: FRN 007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing : New Delhi Date : May 3.562 2.573 33.371.676 2.221.332.536 5.440.811 4.196. 2011 Dr.881.068 873.179 5.108 1.809 554.989 718.885.723.284 9.429. 2011 Schedule Sources of Funds Shareholders' Funds Capital Employee Stock Options Outstanding Reserves & Surplus Minority Interest Secured Loan Unsecured Loan Application of Funds Fixed Assets Gross Block Less : Depreciation Net Block Capital Work in Progress Deferred Tax Asset (Net) (Note A-14 & B-14 on Schedule-21) Investments Current Assets.567.726 1.820 69.300.560.778.585 107.968.332.536 7 8 9 10 11 93.795.066.476.821.061.506 1.817 112.706.391.573.037.656.340.937 1.882.594.001 494.529 2.410.785.606 12 13 1.488.464.295.809 257.126.418 2.

709.142 112.205) 870.077 343.735.507 822.562 2.097.253.370.97) (26.347 (1.737.879.Annual Report 2010-11 New Delhi Television Limited Consolidated Profit and Loss Account for the year ended March 31. 2011 Dr.164.088 1.496 (2.163) 486.620.442 1.834.69 This is the Consolidated Profit and Loss Account referred to in our report of even date The schedules referred to above form an integral part of the Consolidated Profit and Loss Account For and on behalf of the Board For Price Waterhouse Chartered Accountants Firm Registration No: FRN 007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing : New Delhi Date : May 3.636.699.089 (1.342 4.336.465.156.176.259 1.521.098.Basic and Diluted (Note A-15 & B-18 on Schedule 21) – Basic – Diluted Significant Accounting Policies and Notes to the Accounts For the year ended March 31.134.248.940.886.513.696 21 (26. 2011 Schedule Income Business Income – Advertising Revenue – Other Other Income Expenditure Production Expenses Personnel Expenses – Salaries & Other Benefits – Sales Incentives Operations & Administration Expenses Marketing.815) (48.000 (225.878.930.733.639.661 – 5.060.152) (40.304. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer Financial Statements 83 .489 362.187 (1.476.035.696 373.600) – 10.727 308.718 8.461 7.947 6.558 18.393.091.200.444.177.640.900.966.701) 49.199.433.176 17 18 19 1.173 (1.140.159.837.141. Distribution & Promotion Expenses Profit/(Loss) Before Interest.2011 Amount (Rs.623.735) 3.978 2.529.148) 102.431.163 4.240.592.548 (1.97) 18.472.585.555.682.808 (494.613) – 870.025.927 5.723.322.235 (2.255.315 1.259.150.566.738.69 18.170.666) 2.482) 33.024 2. Depreciation.152 116.600 1.774. Share Of Minority and Share In Profit Of Associate Tax Expense – Current Tax – Tax for Earlier Years/ (written back) – Deferred Tax (Note B-14 on Schedule 21) – Fringe Benefits Tax For Earlier Years Net Profit/ (Loss) After Tax Before Share of Minority and Share In Profit/(Loss) Of Associate Share of Minority ( Note B-1 on Schedule 21) Gain on sale of investment in subsidiary (Note B-9 on Schedule 21) Share In Profit of Associates Net Profit/(Loss) After Tax Previous Year Balance Brought Forward Adjustment against Reserve & Surplus as per scheme of arrangement (Note B-7 on Schedule 21) Profit/(Loss) carried forward to the Balance Sheet Earnings Per Share .849 15. Employee Stock Compensation Expense.920.420 2.248.204. 2010 Amount (Rs.998) 16.) For the year ended March 31.432 (2.638.124.038 8.378.604) 42.598.364.313.278.304 1.036.090.122 (1.603.663.700.084 1. Tax and Employee Stock Compensation Expense Interest and Financial Charges Depreciation /Amortisation Profit Before Tax.737.365. Share Of Minority and Share In Profit Of Associate Employee Stock Compensation Expense / (Write Back) (Note B-2 Schedule 21) Profit Before Tax.058.383) 20 6 220.) 15 16 3.217.572.309 (305.872 56.789.

676.114.978 (461.420.931.640) (2.557. received back Proceeds from Sale of stake of Subsidiary (Note B-9 on Schedule 21) Proceeds from Sale of Investments Purchase of investments Net cash used in investing activities 308.848) (163.539.821) (356.705.333 40.496 486.193.862 2.669.469.558 (106.844.282.402.759 1.209 38.553.016.383) A.141 – (1.874.971.801. 2010 Amount (Rs) (2.000) 7.708.553.733.764 (264.235 8.882.168 – (104.963 (44.856.012.059 682.700. Cash flow from operating activities: Net (loss)/profit before tax .313 362.389.463.787.058.346) 33.286.428) 1.046) 202.212 (589.350 106.871) 61. 2011 For the year ended March 31.253.729) (2.190 – 26.059) (290.460) (168.489 (28.282.648) – 151.847 84 Financial Statements .493 (4.767) 183.426.920.156.431.590.793. Cash flow from Investing activities: Purchase of fixed assets other than Goodwill Purchase of Goodwill Proceeds from sale of fixed assets Interest received Dividend Income Refund of Share Application Money Loan given to company.566.829) 102.220) – 34.727 (129.477) 33.426.264.244 10.838.872.224) 87.016) – – (219.951.129.127 29.089 220.614 (60.028.116.629.005 (684.848.709.915.036.773.199.787.725) – (2.433.363 (2.045.122 15.897.866) 262.226.682.737.299.500.018 (398.280) (580.592 116.160 651.000) (2. share of minority and share in profit of associates but after Employee Stock Compensation Expense Adjustments for: Depreciation /Amortisation Interest and Financial Charges Interest Income Employee Stock Compensation Expense (Profit)/Loss on Fixed Assets sold / Assets written off Impairment of Fixed Assets Bad Debts / Doubtful Advances Written off Provision for Bad & Doubtful Debts Provision for Doubtful Advances Liability no longer required written back Provision for Doubtful Debts Written Back Provision for Gratuity.736 (82.102) 165.389.Annual Report 2010-11 New Delhi Television Limited Consolidated Cash Flow Statement for the year ended March 31.798.799.798.748 231.585) 221.420.029.214.086.639) 3. Leave Encashment & Employee Benefits Unrealised Foreign exchange Gain on Redemption of Bonds Dividend Income Barter Income Barter Expenditure Tax Deducted at Source on Service Income Diminution in the value of Investment Operating profit before working capital changes Adjustments for changes in working capital : – (Increase)/Decrease in Sundry Debtors – (Increase)/Decrease in Other Receivables – (Increase)/Decrease in Inventories – Increase/(Decrease) in Trade and Other Payables Cash generated from operations – Taxes (Paid) / Received (Net of TDS) – Fringe Benefit Tax (Paid)/ Received Net cash used in operating activities B.678) (226.365.611 – – – – – – 94.583 48.465.031. 2011 Amount (Rs) (1.570 3.604) For the year ended March 31.064.247) (75.794) (44.

149.161 For the year ended March 31. Cash flow from financing activities: Proceeds from fresh issue of Share Capital Proceeds from Minority Proceeds from term loan Repayment of term loan Interest Paid on Finance Lease Repayment of Step Up Coupon Convertible Bonds due 2012 Proceeds from Intercorporate loan Receipt of Intercorporate loan Repayment of Secured Working Capital Loan Repayment of Unsecured Loan Interest Paid Net cash generated/ (used) in financing activities Net Increase/(Decrease) in Cash & Cash Equivalents Opening Cash and cash equivalents Closing Cash and cash equivalents before adjustment Less: Adjustment on account of NDTV Imagine Limited and its subsidiaries Balance as on February 23.295 – 355.000. This is the Consolidated Cash Flow Statement referred to in our report of even date For Price Waterhouse Chartered Accountants Firm Registration No: FRN 007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing: New Delhi Date: May 3.740 2.991.655.029.058.731 – 620.092.989 65.444. – Rs. 2010 (Note B-9 on Schedule 21) Addition of Opening Cash & Bank Balance on account of Merger (Note B-7 on Schedule 21) Closing Cash and cash equivalents 4 Cash and cash equivalents comprise 4 Cash in hand Balance with Current and Deposit accounts Unrealised Foreign exchange (Gain/ (Loss)) Closing Cash and cash equivalents 4 For the year ended March 31. 3.854. 90.739) (381.634.536.811.319 Notes : 1.559) (41.960 1. The above Cash flow statement has been prepared under the indirect method setout in AS-3 as notified under section 211(3C) of the Companies Act.625. 2.337 609.815.029 (US$ 2.789.817.614. fixed deposits amounting to Rs.772) against letters of credit issued and against bank guarantees.821.656) (217.289. 637.813) 1. – Tax deducted at source (on income) – Barter Transactions 4.985. Further.909.000 (543. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer Financial Statements 85 .980) (1.141.161 2.908.172 2. Includes: – Fixed deposits under lien Rs.171.008.171. 89.013 – 1.701. 500.050 452.319 1.781.926 611.341.280.821.750 611.010.709 2.113 (4.300.232 620.276.426 (73.912.000) {(Previous year Rs.092.000.000 (US$ 2.1956.852.815) – – 67. Previous year's figures have been regrouped or reclassified wherever necessary to conform to current year's grouping and classification.365.024 4.280 2.148 2.786.000 (Previous Year Rs 4.311.908.309.445.200) (17.965 is under lien towards loan against deposits.586) (1.196.390.152.863 1.456 – (152.171. Following non cash transactions have not been considered in the cash flow statement.920. Figures in brackets indicate cash outflow.090.000) 2. 2011 For and on behalf of the Board Dr. 2010 Amount (Rs) 6.781.087 1.269) 924.493) (3.741.751. 2011 Amount (Rs) 46.656) (5.087 8.718.169.041.072.Annual Report 2010-11 C.920.807.461 558.000)} held in escrow account (Note B-9 on Schedule 21) 5.

482.each Subscribed & Paid Up1(b.885.267 (Previous Year 64.) Schedule .509.each have been issued but not yet subscribed pursuant to Employee Stock Purchase Scheme 2009 (ESPS-2009) (Refer Note B-2 on Schedule 21).740 (Previous Year 1.870) Equity Shares of Rs.838.Annual Report 2010-11 New Delhi Television Limited Schedules to the Consolidated Balance Sheet As at March 31.435) Equity shares of Rs.870 (Previous Year 7.517 (Previous Year 64.000 257. 7.562 873.528 (Previous Year 9.250 (Previous Year 22.2 Employee Stock Options Outstanding (Note B-2(a) on Schedule 21) Employee Stock Purchase outstanding under ESPS-2009 873.4/.c.517 ) Equity Shares of Rs 4/.000) Equity Shares of Rs. Nil (Previous Year 1.690 (Previous Year 33. 4/.) As at March 31.each 257.4/.000 350.d & e) : 64.990) Equity shares of Rs.077.460) Equity shares of Rs.527) Equity Shares of Rs.000 (Previous Year 87.930.000. 2010 Amount (Rs.each were allotted as fully paid up by way of Bonus Shares by capitalisation of Profits and Revaluation Reserve.471.838. 9.each allotted to the eligible employees of the Company under ESPS 2009 (Refer Note B-2(a) on Schedule 21). 11.108 Out of the above: 11.459.741.077.068 257.562 1. 4/. (a) (b) (c) (d) (e) Schedule .651.each Issued1(a) : 64.068 257.500.000.651. 4/.528 ) Equity Shares of Rs 4/-each were allotted as fully paid up pursuant to a contract without payment being received in cash.930.068 1 1.785.1 Capital Authorised : 433. 2011 Amount (Rs. Further. 33.173 1.108 257.690 ) Equity Shares of Rs 4/. 4/.915.each allotted to employees of the Company on exercise of the vested stock options under Employee Stock Option Plan .173 86 Financial Statements .250.509.ESOP 2004 of the Company (Note B-2(a) on Schedule 21).733.785.each were allotted as fully paid up by way of Bonus Shares by capitalisation of Securities Premium.068 257.482.885.

632.822 – (225.429 2.947.000 403.300.786.570 205.071.284 includes Rs.405.858 870.402.731.000 (Previous year Rs. 5 Secured by hypothecation of specified assets on lease (Note B-20 on schedule 21).109 (Previous year Nil) secured against fixed deposit amount to Rs.914.780 229.972.) 2.357 (3.932.816.136 25.202.152 Out of the above: 1 Rs 65.226.696 4. 172.040 – 2.861.422 52. 629.570 205.915.034 2.130. – Rs.782.572.801.261).271. 2. 2 Out of the above: – Rs.378 (Previous year Nil) to be secured against the mortgage of property at 207 Okhla Industrial Area.200.577 (Previous year Rs. The loan is further secured by hypothecation of Plant & Machinery acquired or to be acquired by NDTV Media Limited. From a Bank – Working Capital Loan Others – From Companies 1 1 Schedule .000 (Previous year Rs.351.585 272.211 As at March 31.507 1. 2011 Amount (Rs.3 – Interest Accrued and Due (Note B-24 on schedule 21) From Others – Finance Lease Liabilities5 120.547.112) secured by way of charge created on all current and future book debts of NDTV Media Limited.639. Further.535) – 225.577 1. 637.082 1.946.Annual Report 2010-11 New Delhi Television Limited Schedules to the Balance Sheet Schedule .666.573.822) – (2. Phase III.946. Nil (Previous year Rs. Nil (Previous year Rs.233 1.892.813 52. Rs.737.946.325.803.226.210) – 2.300.109.779 15.822 231.233.539 On exercise/allotment of employee stock options/ shares (Note A-11 and B-2 &3 on Schedule 21) As per scheme of arrangement (Note B-7 on schedule 21) Schedule .4 – Working Capital Loan 2.692.250 3.250) from associate company Financial Statements 87 .782.206) 2.312.429 225.572.656) is secured by way of charge created on Fixed Assets of Metronation Chennai Television Limited and by way of corporate guarantee of Rs.663. ) 2.701.464.773 118.276 5.965 (Previous year Nil) – Rs. Rs 55.545.65.5 Unsecured Loans – 107.882.3.672.000) each from the Company and Kasturi & Sons Limited respectively. Nil (Previous year 90.4 Secured Loans From a Bank – Term Loans 1.375.220 133.040. 3 Rs.3 Reserves & Surplus Securities Premium Account Opening Balance Additions during the year 1 Adjusted against opening Profit & Loss (debit balance)2 Closing Balance General Reserve Capital Reserve Opening Balance Additions during the year (Note B-6 and 7 on Schedule 21) Adjusted against opening Profit & Loss (debit balance)2 Closing Balance Revaluation Reserve Opening Balance Additions/(Utilisation) during the year Adjusted against opening Profit & Loss (debit balance)2 Closing Balance Currency Translation Reserve (Note A-12 on schedule 21) Profit and Loss Account 1 2 As at March 31.265.000 107.218.000.239.164) secured by way of charge created on all current and future book-debts of the Company. The loan is further secured by the hypothecation of plant and machinery acquired / to be acquired by the Company.502.833.000) secured by charge created/to be created on building and other assets acquired against the aforesaid loan of the Company. 362.147 3.813 99. 2010 Amount (Rs.163.577) secured by the hypothecation of specific Plant and machinery acquired / to be acquired against the aforesaid loan and also against existing plant and machinery of the Company.408. 1.Nil (Previous year Rs.815 (150.771.883.780 131. 9.664.029.701. 90. 4 Term loans repayable within a year Rs 21.080.780 – – 205. 80.495.660 (Previous year Rs.205.161.

600 745.138.040 – 49.930) purchased under barter arrangements during the year.386 103.408.589 30.043.313 456.757.143 – 2.354.542.598.227.377.366 673 – 72.632 – 181.567.010.197.941.335 770.329 – – – – – – – – – – – – – 10.591 959.224 126.744 518.436 – – – – 169.716 – – – – – – – – 41.388.878) towards Capital Advances.148.262 2.3 281.000) purchased under barter arrangements during the year.557.792.522 21.379.925 – 495.689 22.054.282.6.437.056 118.031.21).937 2.139 17.181 – 580.785 14.762 – – – 227.655.752 74.406.904 – 487.599 53.329 Leasehold Land 495.589.600 365.367 127.920 (Previous Year Rs.455 Vehicles .245.365.589.000 – – – – – – – 1.867.059 6.004.897 2.8. 2010 (Note A-2.500.971 258.705.867 29.847.477 580.163 204.074 – 4.851 – 431.497 20.993.874.505 50.253.730 Office Equipment 4 61.518.438 – 4.321 Previous Year 3.223.897 – 853.1.418.290.) Depreciation Deletion/ Adjustments Deletion on Account of Sale of Subsidiary9 As at March 31.334 – 4.848.5.000 – – Tangible assets Land 1 – – – 14.9 & 20 on Schedule 21) Financial Statements – – 3.886.696.389 – 1. As per Scheme of arrangement (Note B-7 on Schedule .116.479 512.21.094.639 9.388 Capital Work in Progress 6 – – – 1 2 3 4 5 6 7 8 9 10 Gross Block includes assets aggregating Rs. 72.500.833.821.674.868.941.821. Gross Block includes assets aggregating Rs.777 77.872.525 72.367.440.349 766.000. Gross Block includes assets aggregating Rs.845 – – 43. 2011 Net Block As at March 31.051 2.945.817 33.493 – 651.089 362.872 62.636 8.704 90.873 – 23.066.307 13.265.540 2. Nil (Previous Year Rs.694.906 41.975.776.200.000 Computer Software 79.350.283 – 1. 24.014 Furniture & Fixtures 266.581.198 10.037. 13.765 – 1 – – 869.996 990.216 128.683 – – TOTAL 4. Gross Block includes assets aggregating Rs.864.566.860 47.548.367.848. Nil) purchased under barter arrangements during the year.832 40.557.372.388.406.477. 2010 Additions on Account of Acquisition7 Additions on Account of Merger8 Additions During the Year Goodwill 580.477 1.547.697 50.821.683.286 139.940 Computers 285.972 1.874.638 – – 1. Gross Block includes assets aggregating Rs.857 2.500.874.306 Vehicles 5 231.963 – – 580.926.Leased 1.114.197. Nil (Previous Year Rs.726 1.462.696.288 – – – 273.110 1 326.183 994.840 24.477 – – – – – – – 580.332 308.3.427 712.600.450 – – – 44.684.654 171.520 136.993.899 – – 2.206 15.027 833.640.515 – – 3.732 25.601 296.241 – – 262.6 Fixed Assets Amount (Rs.246 1.518.244 – – 196.659 1.656.481 38.049.980 – – 462.805 – – Plant & Machinery Plant & Machinery (Main) 3 1.180 – – 22.474 – 8.435 9.572.400 406.547 11.878.88 New Delhi Television Limited Schedule to the Consolidated Accounts As at March 31.095.437 – – – 1.322.937 1.926.202 Technical Know how 1.656 – – – 510.475 – – – – 4.479.475 47.789 140.701 – 10.468.678 822.077.212 6.393.466. 2010 Additions on Account of Acquisition7 Additions on Account of Merger8 Provided During the Year Revaluation Reserve On Deletions/ Adjustments On Deletion on Account of Sale of Subsidiary9 Impairment10 Upto March 31. Note B-9 on Schedule .145.21.202 – – 272. Building as at April 1.938 – – 900.993. Includes an amount of Rs.036 Computers on lease 28.810 – – 16.002.987.966 – – – 1.730.512 Plant & Machinery on lease 1.226 82.535 – 24.747 52.000 1.420 1. Note B-6 on Schedule .874.714.100 7.003.585 – – – 14.291.500.054.571 109.049 264.634 575.886.21.104 6.804 – 19.537.363.044.116 – 111. 15.324.350.881.004.154 211.528. Note B-8 and 25 on Schedule .805.650 – 51.078 56.084 178.012 10.893.220.667. 2011 Annual Report 2010-11 Schedule .510.074.778.16.656 981.884.271.885.496 – – – – – – – – 3.329.498.274.096.449.656.000.040 – 72.610 5.364 33.661 10.125.196.642.617 19.378 (Previous Year Rs. 2010 includes land appurtenant to the building acquired. 47.881 298.096.127 140.418 – – Gross Block Particulars As at April 01.835 35.176) purchased under barter arrangements during the year.792.433.884.532 – – 331. .906 – – 4.407.293.798 544.163 471.808.692.187 98.244.486 7.166.960.501.513.044.678.684 – 6.807.938 21.149.905 – – 763. 2011 Upto March 31.124.4.874.193.301.890 2.329 484.477 – – Intangible assets Website 22.901 53.317.323 – 2.000 – 1.400 – – Plant & Machinery (Other) 103.882.486 – – Building 2.856.458 – 1 – – – – 103.240 102.606 56.874.172 40.797 Computer Software on lease 389.266 1.440.036 – 1.7 & 13 and B-6.576.810) purchased under barter arrangements during the year.530 40.923 52.974.136 (Previous Year Rs.754 143.436.354. 2011 As at March 31.477 22.550 – 38.295.136.270 175.343 204.Nil (Previous Year Rs.7.3.018.295.507 105.700 7.517 – 103.

754 210.695) Compulsory Convertible Preference Share (CCPS) of Rs.500 (36.295.285. 10/.) (Note A-16 & 17 and B-1 on Schedule 21) (Long Term.each Fully Paid Up Media Networks Limited – 10.347 36. Trade.524). 80. Nil) made for the diminution in the value of investment.565 20.565.893 (Previous year Rs.each Fully Paid Up SBI Magnum Balance Fund . Nil) made for the diminution in the value of investment. Net of provision of Rs 20.375) Units (Long Term.318) Equity Shares of Rs. Aggregate market value of Quoted investment as on March 31.692.560.7 Investments As at March 31.125) made for the diminution in the value of investment.523 Net of provision of Rs 202.125 (Previous year Rs.620.000 85.374.008.562) Equity Shares of Rs.986.318 ( Previous Year 362.000 446.2011 is Rs. Net of provision of Rs 39.485.620. Quoted.500) – – – – – – 86.565.000 244.440 – 3.419 (Previous Year 2. at Cost ) Others Jai Prakash Power Ventures Limited4 – 2.000.) As at March 31.4 each Fully Paid Up (Including Share of Profit for Previous Year(s)) – Nil (Previous Year 38.409.375 (Previous year 35.10/.347 10.220.319.461 (Previous year Rs.692.500 (Previous Year 212.606.951. 2010 Amount (Rs.475.562 (Previous Year 737.289.21)1 – 737.250) Equity Shares of Rs.Growth – 35.300) Equity Shares of Rs.319.037.950.969.000 (Previous Year NIL) Equity Shares of HKD 10/.682 554.500 42. 1/. at Cost) Associate Companies Astro Awani Network Limited – 212.875.942 4.419) Equity Shares of Rs 10/.each Fully Paid Up 1 2 3 4 – 10.300 ( Previous year 299.008.933 – 125. Trade.007.697) Add: Share of Profit/(Loss) NDTV Studios Limited (Note B-6&7 on Schedule 21) – Nil (Previous Year 61.475.724.901 3.343 226.182.000. The management is of the opinion that the decline in the market value of investment is temporary and do not represent permanent diminution in the carrying value of investment.682 5.759. During the previous year. 2011 Amount (Rs.Annual Report 2010-11 New Delhi Television Limited Schedules to the Consolidated Balance Sheet Schedule.004.000) Compulsory Convertible Preference Share (CCPS) of USD 1 each Fully Paid Up Others Turner General Entertainment Networks India Private Limited (Formerly NDTV Imagine Limited) (Note B-9 on Schedule .each Fully Paid Up Emaar MGF Land Limited2 – 362.each Fully Paid Up (Goodwill on acquisition Rs.000 210. Financial Statements 89 .113.10 each Fully Paid Up Add: Share of (Loss)/Profit for the year NDTV (Mauritius) Multimedia Limited (Note B-6 on Schedule 21) – Nil (Previous Year 55.877. Unquoted.500) Equity Shares of USD 1/.285 637.000 (Previous year Rs.each Fully Paid Up Delhi Stock Exchange3 – 299.951. 39.000 3. the erstwhile Jaiprakash Power Ventures Limited was amalgamated with Jaiprakash Hydro-Power Limited and the name of Jaiprakash Hydro-Power Limited was changed to Jaiprakash Power Ventures Limited.

087.215.958.357.000)[(Previous year Rs.) As at March 31. 637.725) 1. 2010 Amount (Rs. Rs.10 Cash and Bank Balances Cash In Hand Balance With Banks on – Current Accounts – EEFC Accounts – Fixed Deposits 1 2.550.789.) (Note A-9 on Schedule 21) Stores & Spares Video Tapes Programmes under production and finished programmes Schedule.035 1.933.159 1.287 466.899.853.924.192 1.442 48.058 243.121.346 2.976. 90. Further.188 2.171.989 1.891 Schedule.376.012 90.063.723.772) against letters of credit issued and against bank guarantees. 89.087.401 (120. Considered Good unless otherwise stated) Debts Outstanding for a period exceeding six months Considered good 123.994 1.709 471.000)] held in escrow account (Note B-9 on Schedule 21) 90 Financial Statements .741.169.269 Considered doubtful 120.695. 2011 Amount (Rs.064.147.000 (US$ 2.725 Other Debts Considered good Less: Provision for Doubtful Debts 126.000 (Previous Year Rs 4.962 611.172.066.480.529 2.761.001.087 1 – – Includes: Fixed deposits under lien Rs.601.280.295. fixed deposits amounting to Rs.029 (US$ 2.501 4.375.265.781.676 205.Annual Report 2010-11 New Delhi Television Limited Schedules to the Consolidated Balance Sheet As at March 31.8 Inventories 1.854.293 Schedule.058) 1.261 44.786.134 79.762 1.405 4.337 139.926.715 93.711.000.999. 500.351 (79.407 1.309.965 is under lien towards loan against deposits.933.912.694.352.9 Sundry Debtors (Unsecured.000.902.

676 85.476 420.365.197 66.695 718.399 (Previous Year Rs.237) 335.156 1.461 75. ) As at March 31.875 (43.940 426.477 7.616.461.648 161.11 Other Current Assets.13 Provisions Provision For Gratuity (Note A-10 and B-21(A)(i) on Schedule 21) Provision for Leave Encashment (Note A-10 and B-21(A)(ii) on Schedule 21) Provision for Other Employee Benefits (Note A-10 and B-21(C) on Schedule 21) 58.893. 2010 Amount ( Rs.268.125.221.457.594 )} Balance due from Government authority Advance Fringe Benefit Tax {(Net of provision of Fringe Benefit Tax of Rs.282 (Previous Year Rs 85. Considered Good 239.678) 242.933 Schedule.999.406 7.12 Current Liabilities Sundry Creditors Other Liabilities Advances from Customers Book Overdraft 916.148.731 (96.Annual Report 2010-11 New Delhi Television Limited Schedules to the Consolidated Balance Sheet As at March 31.804 – 59. 225. ) Schedule.942. 2011 Amount ( Rs.461.232.372.067 1.000) Schedule.763.255.491) – – Included in Interest and Financial Charges Financial Statements 91 .737.435.399)} 77.403.055) 239.968.365.231.472.686 1.918.521.918.674.594.371.944.639 (34.135 378.491 (168.688.970 46. Considered Good unless otherwise stated) Advances recoverable in cash or kind or for value to be received Unsecured.023 849.261.676 Considered doubtful 96.414.14 Miscellaneous Expenditure (To the extent not written off or adjusted) Issue expenditure of Step up Coupon Convertible Bonds due 2012 (Note B-11 on Schedule 21) Opening Balance Less: Amortised during the year 1 Closing Balance 1 – – – – 168.483.639 40.330.803.364.372.403.573 Schedule. Loans and Advances (Unsecured.446 363.809.179 242.345 33.793 93.197 43.744 28.208.583 266.855.942.801 298.811.457.384.846 6.085.248.916 821.778 39.156 (10.529 Security Deposits Less: Provision for Doubtful Deposits Interest Accrued But Not Due Prepaid Expenses Advance Income Tax {Net of Provision for Income Tax of Rs.429.453 4.402 39.544.861 743.678 286.208.055 Less: Provision for Doubtful Advances 120.

225.986 2.684 4.348 25.(Previous Year Rs 1.806.282.403 81.557.445.657/.154.281 3.722.931.231 131.925 90.752 190.227 33.100 39.15 Other Business Income Sales of Television Software Other News Delivery Avenues Equipment Hire Subscription Revenue Shared Service Income Sale of Programme and Movies Syndication Revenue Events Other Business Income 240.018 35.189 38.338 78.152.749.382 138.057.796.920 98.875 28. 2011 Amount ( Rs.432 8.907 1.366 2.059 368.640 1.839.725.768. 2010 Amount ( Rs.364 6.529.941.498 30.217.653 11.550 1.602.407 348.255.210 17.093 1.356 137.167.834.735. Music And Editing Video Cassettes Subscription .212 4.163 97.397.920.223.567 1.896 6. ) For the year ended March 31.301 31.342 17.709.000 104.net Provision For Doubtful Debts Written Back Liabilities no longer required Written Back Gain On Redemption Of Coupon Convertible Bonds (Note B-11 on schedule 21) Dividend Income Miscellaneous Income 100.212.634.414.543.17 Production Expenses Consultancy & Professional Fee Hire Charges Graphic.068 154.165 96.850 5.566.346.227 36.529.041.423.053.948.16 Other Income Interest earned: – On Fixed Deposits {Gross of tax deducted at source} Rs 10.Annual Report 2010-11 New Delhi Television Limited Schedules to the Consolidated Profit and Loss Account For the year ended March 31.757.490.956.848.129 9.000 2. Footage & News Service Software Expenses Transmission & Uplinking Sets Construction Panelist Fee Website Hosting & Streaming Helicopter Running & Maintenance Travelling Stores & Spares On Air Promos Programme Production (Note A-9 on Schedule 21) Other Production 203.431.843.800 343.527 25.432.638 7.200.927.431.910 9.502 16.976 – 60.408.238.084 186.707.238.150.087 538.405.327.000 189.223 822.543 21.260 121.075 17. ) Schedule.278.277 8.259 Schedule.462 142.876.897 – 129.633.340.717 7.821.798.461 Schedule.472.967 131.709.220 – – 7.288 559.077 18.553.226 296.313.422 4.442.623.979 )} – On Income Tax Refund – On Others Foreign Exchange Fluctuation .282 145.322.500.343.328 4.176 92 Financial Statements .159.971.616.

841.601.457 32.230 21.815 181.124.193 34.364.925) Legal & Professional Loss on Sale of Fixed Assets /Asset Written off Provision for diminution of Investment Subscription Expenses Brokerage & Commission Loss on Impairment (Note B-8 and 25 on Schedule 21) Miscellaneous 184.483 86.722. travelling & taxi hire Business promotion Repair and Maintenance – Plant & Machinery – Building Charity and donations Insurance Communication Vehicle Medical Generator hire and running Security Staff training Provision for doubtful debts Provision for doubtful advances Settlement Expenses Bad Debts & doubtful advances written off 50.960.335.709 15.614 14.936.138 52.562 10.872 73.727 33.776 5.20 Interest and Financial Charges Interest on : – Coupon Convertible Bonds (including amortisation of issue expenditure on Coupon Convertible Bonds due 2012 convertible into ordinary shares of NDTV Networks Plc) (Note B-11 on Schedule 21) – Term Loans – Interest On Intercorporate Loan – On Leased Assets – Others – 197.168 21.012. Wages & Other Benefits Contribution to Provident Fund & Other Funds Staff Welfare Schedule.737.508 33. ) 2.189 6.642 25.059.094.253.424 24.132.652.018 36.003.592 116.250 651.696 18.979 31.027 2.Annual Report 2010-11 New Delhi Television Limited Schedules to the Consolidated Profit and Loss Account For the year ended March 31.383.279.292.434.598.773.016.990 64.856.834 9.147.509 29.966.124.313.244 37.136.19 Operations & Administration Expenses Rent (Note B-19 on Schedule 21) Rates and taxes Electricity and water Bank charges Printing and stationery Postage and courier Books.489 Financial Statements 93 .305.980 40.263 52.842.499 1.903 29.288 11.241.639.023.699.424 55.688.970.758.752 5.509.280 5.517.304.352.168 13.037 (3.155.124 6.326.036.869.18 Personnel Expenses Salary.127 371.600 320.485.793.290.038 8. 2011 Amount ( Rs.160 262.540 65.208 100.506. periodicals and news papers Local conveyance .299.126.676 1.705.592.774 64.190 – 33.663.933 121.055.278 1.926.096 1.650.458.838 254.028.706.199 108.258 Less: Adjusted with Provision (40.085.978 29.655 486.142 For the year ended March 31.204.858.010 3.214.116.727.327 88.572 – 1.289. ) 1.293.141.963 24.734. 2010 Amount ( Rs.465.309 19.816 67.378.943.910) Schedule.746 – 26.400.713 2.491 57.374.152 Schedule.640.064.326 220.638 20.996.684 478.608.132.394 11.900 8.038 4.714.691.025.089.333 196.980 8.267 – 35.668 44.275.775 43.826 2.

(c) The CFS include the interest in a jointly controlled entity using proportionate consolidation method. the Group has disclosed such notes and policies. Negative goodwill is shown as Capital Reserve. (f) Reserves shown in the consolidated balance sheet represent the Group’s share in the respective reserves of the Group companies. The Company follows the mercantile system of accounting and recognises income and expenditure on accrual and prepares its accounts on a going concern basis (Refer Note B-23). and accordingly. the venturer uses the consolidated financial statement of the jointly controlled entity. For the purpose of applying proportionate consolidation. (g) Minority Interests in the net assets of the consolidated subsidiaries consists of the amount of equity attributable to the minority shareholders at the dates on which the investments are made by New Delhi Television Limited in the subsidiary companies and further movements in their share in the equity. Goodwill/Capital Reserve Subsidiaries Goodwill represents the difference between the cost of acquisition and the Group’s share in the net worth of a subsidiary at each point of time of making the investment in the subsidiary. Significant Accounting Policies 1. (d) The CFS include the share of profit/loss of the associate companies which has been accounted as per the ‘Equity method’. 94 Financial Statements . 1956. Associates Goodwill / Capital reserve arising on the date of acquisition is included in the cost of investments. Subsidiaries are consolidated from the date on which effective control is transferred to the Group and are no longer consolidated from the date of disposal. the management of the Company makes estimates and assumptions in conformity with the applicable accounting principles in India that affect the reported balances of assets and liabilities and disclosures relating to contingent assets and liabilities as at the date of the financial statements and reported amounts of income and expenses during the period. the Group’s share of net worth is determined on the basis of the latest financial statements prior to the acquisition after making necessary adjustments for material events between the date of such financial statements and the date of the respective acquisition. Use of Estimates In preparing the Consolidated Financial Statements.21 and are prepared under historical cost convention in accordance with generally accepted accounting principles applicable in India. Examples of such estimates 2. In this respect. the share of profit / loss of each of the associate companies from the date of acquisition has been added to / deducted from the cost of investments. the applicable accounting standards notified under section 211(3C) of the Companies Act. Retained earnings comprise general reserve. 3. (b) The CFS are prepared after the elimination of all inter-company accounts and transactions in accordance with Accounting Standard . subsequent to the dates of investments as stated above.Annual Report 2010-11 New Delhi Television Limited . An Associate is an enterprise in which the investor has significant influence and which is neither a Subsidiary nor a Joint Venture of the investor.Consolidated Schedules to the Accounts Schedule – 21 A. capital reserve and profit and loss account. which represent the required disclosure. (e) The notes and significant policies to the CFS are intended to serve as a guide for better understanding of the Group’s position. Basis of Presentation and principles of consolidation (a) The Consolidated Financial Statements (CFS) of the Company are prepared and presented under the historical cost convention on an accrual basis in accordance with the accounting principles generally accepted in India and comply in all material aspects with all the applicable accounting principles in India. For this purpose.

A provision is recognised when there is a present obligation as a result of a past event in respect of which it is probable that outflow of resources will be required to settle the obligation and in respect of which a reliable estimate can be made. less depreciation and impairment. Buildings have been stated at an amount inclusive of appreciation arising on revaluation carried out by an independent valuer as at March 31.Annual Report 2010-11 include provisions for doubtful debts. and the useful lives of fixed assets and intangible assets. 1956 after considering the impact of shift workings. future obligations under employee retirement benefit plans.000 are depreciated at the rate of 100% on pro-rata basis unless such items of plant & machinery comprise 10% or more of total block of plant & machinery. Intangible assets are stated at cost less accumulated amortization and impairment. duties. and the amount can be reasonably estimated. Intangibles Intangible assets are recognised if they are separately identifiable and the Group controls the future economic benefits arising out of them. whether there is an indication that an asset may be impaired. 4. Contingencies are recorded when it is possible that a liability will be incurred. a disclosure is made as contingent liability. 5. 6. The rates of depreciation derived from these estimates of useful lives are higher than those mandated by Schedule XIV to the Companies Act. insurance and other incidental expenses incurred for bringing the assets to the working condition required for their intended use. Impairment of Assets The Management periodically assesses using external and internal sources. All other expenses on intangible items are charged to the profit and loss account. Tangible Fixed Assets Tangible Fixed assets except in the cases mentioned below are stated at the cost of acquisition. b) Buildings: Based on rates available for Direct Comparison/Comparable Sale method. Fixed assets purchased under barter arrangements are stated at the fair market value as at the date of purchase. freight. 7. which includes taxes. Depreciation is charged on a pro-rata basis for assets purchased/sold during the year. Leasehold land is amortised over the period of lease. Depreciation/Amortisation Depreciation on fixed assets including intangibles is provided using the Straight Line Method based on the useful lives as estimated by the management. The management’s estimates of useful lives for various fixed assets are given below: Asset Head Tangible assets Buildings Plant and Machinery Computers Office equipment Furniture and Fixtures Vehicles Intangible assets Computer Software Website Technical Know-how 6 6 5 40 5-12 3-6 3-5 5-9 5 Useful Life (years) 5. Individual assets costing less than Rs.The methods adopted for revaluation of the assets were as under: a) Land: Prevailing market rate of land as on the date of revaluation. Impairment occurs where the carrying value exceeds the present value of future Financial Statements 95 . income taxes. Where no reliable estimate can be made. 2009.

in process of production. With respect to programmes in which rights vest in entirety and in perpetuity. 9. are charged off as a expense in the books at the time of their purchase. Costs are amortised in the proportion to management’s estimate of total gross revenues expected to be received over the license period but not exceeding five years from the commencement of rights. 96 Financial Statements . 8. VHS Tapes VHS tapes. Revenue from other services is recognised as per the terms of the agreement. direct production over heads. An “impression” is delivered when an advertisement appears in pages viewed by users. Programmes / Film Rights Programmes: Inventories related to television software (programmes completed. the Group records at inception.Annual Report 2010-11 cash flows expected to arise from the continuing use of the asset and its eventual disposal. Revenue from the display of text based links to the websites of its advertisers (“search advertising”) is recognised for those display’s which are placed on the website. Revenue from equipment given out on lease is accounted for on accrual basis over the period of use of equipment. Revenues from production arrangements are recognised when the contract period begins and the programming is available for telecast pursuant to the terms of the agreement. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the asset’s net sales price or present value as determined above. Search advertising revenue is recognised as “click-throughs” occur. Inventories Stores and Spares Stores and spares consist of blank videotapes and equipment spare parts and are valued at the lower of cost or net realisable value. Films Rights: Inventories in respect of broadcast rights for acquired films are stated at lower of cost (cost includes acquisition cost. Subscription Revenue from direct-to-home satellite operators and other distributors for the right to distribute is recognised when the service has been provided as per the terms of the contract. Income from the display of graphical advertisements (“display advertising”) is recognised on the website as “impressions” are delivered. Betacam and DVC videotapes are charged off on issue to production. development cost) less amortised/impairment cost or net realisable value. available for sale or purchased programmes) are stated at the lower of cost (which includes direct production costs. Revenue Recognition Advertisement revenue from broadcasting is recognised net of agency commission when the advertisements are displayed. acquisition of footage and allocable production overheads) less amortised/ impairment cost or net realisable value. Interest Income is recognised on a proportion of time basis taking into account the principal outstanding and the rate applicable. a loss is recognised for the excess of unamortised cost over the film right’s realisable value. Programmes which are of current or topical in nature are entirely amortised on first exploitation In respect of other programmes. Typically the milestone is reached when the finished product has been delivered to or made available and accepted by the customer. story costs. If estimates of the total revenues and other events or changes in circumstances indicate that the realisable value of a right is less than its unamortised cost. Cost is measured on a First In First Out (FIFO) basis. production cost. which is charged off not later than the expiry of five years. a nominal value of the cost of the programme as terminal value. as the services are rendered and no significant uncertainty exists regarding the amount of consideration. other than Betacam and DVC videotapes. programme costs are amortised based on management’s estimates of the ratio of the current period’s gross revenues to ultimate revenues. A “click-through” occurs when a user clicks on an advertiser’s listing.

Employment Benefits Short-term employee benefits are recognised as an expense at the undiscounted amount in the profit and loss account of the year in which the related service is rendered. The Company fund the benefits through annual contributions to Life Insurance Corporation of India (LIC). 10. income and expense items of the non-integral foreign operation are translated at exchange rates on the date of transactions. it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. discount rate. Financial Statements 97 . both monetary and non-monetary. future salary increases. the benefits are unfunded and the actuarial valuation of the liability towards gratuity and leave encashment benefits of the employees is made on the basis of certain assumptions with respect to the variable elements like discount rate. Employee Stock Based Compensation The Group calculates the employee stock compensation expense based on the intrinsic value method wherein the excess of market price of underlying equity shares as on the date of the grant of options/shares over the exercise price of the options/shares given to employees under the Employee Stock Option Scheme/Employee Stock Purchase Scheme of the Company. The Group recognises the actuarial gains and losses in the Profit & Loss Account as income and expense in the period in which they occur. All non-monetary assets and liabilities are stated at the rate prevailing on the date of transaction. future salary in the variable elements like discount rate. The actuarial valuation of the liability towards the Gratuity Retirement benefits of the employees is made on the basis of certain assumptions with respect to the variable elements affecting the computations including estimation of interest rate of earnings on contributions to the insurers. future salary increases. Gains / (losses) arising out of fluctuations in the exchange rates are recognised as income/ (expense) in the period in which they arise. is recognised as deferred stock compensation expense and is amortised over the vesting period on the basis of generally accepted accounting principles in accordance with the guidelines of Securities and Exchange Board of India. The Group recognises termination benefits as a liability and an expense when the enterprise has a present obligation as a result of a past event. Foreign Currency Transactions Transactions in foreign currency are recorded at the rates of exchange in force at the time the transactions are effected. 11. insurers assume the obligation to settle the gratuity payment to the employees to the extent of the funding including accumulated interest. a loss is recognised for the excess of unamortised cost over the film right’s realisable value. etc affecting the valuation. the employee share based compensation expense is calculated based on the intrinsic value method wherein the excess of value underlying equity shares as determined by an independent valuer as on the date of grant of the shares over the exercise price of the shares allotted to the employees of the subsidiaries or to the trustees of NDTV Group Employee Trust which will hold shares on behalf of employees of the respective subsidiaries and other group companies collectively referred to as beneficiaries is recognized as deferred stock compensation expense and is amortised over the vesting period as per generally accepted accounting principles in India. Under the scheme. All monetary assets and liabilities denominated in foreign currency are restated at the yearend exchange rate. and a reliable estimate can be made of the amount of the obligation. In translating the financial statements of a non-integral operation for incorporation in the consolidated financial statements.Annual Report 2010-11 If estimates of the total revenues and other events or changes in circumstances indicate that the realisable value of a right is less than its unamortised cost. The Group provides for long term defined benefit schemes of gratuity on the basis of actuarial valuation on the Balance Sheet date based on the Projected Unit Credit Method. All resulting exchange differences are accumulated in a foreign currency translation reserve until the disposal of the net investment. The financial statements of an integral foreign operation are translated as if the transactions of the foreign operation have been those of the Company itself. 12. In respect of subsidiaries. Post employment and other long term employee benefits: The Group’s contribution to State Provident Fund is charged to the Profit and Loss Account. For other companies in the group. of the non-integral foreign operation are translated at the closing rate. the assets and liabilities.

Deferred tax assets in respect of unabsorbed depreciation/brought forward losses are recognised to the extent there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. historical transactions or comparable cash transactions.Annual Report 2010-11 13. permanent diminutions. Taxes on Income Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provisions of the Income Tax Act. The Company’s policy for accounting for each transaction negotiated contemporaneously is to record each element of the transaction based on the respective estimated fair values of the assets or services purchased or investments made and the airtime sold. Long-term investments are stated at cost of acquisition. the revenue/expense is measured at the fair value of the goods/services provided/received adjusted by the amount of cash or cash equivalent transferred. so as to obtain a constant periodic rate of interest on outstanding liability for each period. Earnings Per Share (EPS) Basic EPS The earnings considered in ascertaining the Group’s basic EPS comprise the net profit/ (loss) after tax. construction or production of a qualifying asset is capitalised as part of the asset. Investments Current investments are valued at cost or fair value whichever is lower. 17. Arrangements though negotiated contemporaneously. Assets acquired on leases where significant risks and rewards of ownership are retained by the lessor are classified as operating leases. Lease rentals are charged to the Profit and Loss account on straight-line basis over the lease term. if any. the Company enters into a transaction in which it purchases an asset for business purposes or a service and/or makes an investment in a customer and at the same time negotiates a contract for sale of advertising to the seller of the assets or service. Other deferred tax assets are recognised and carried forward to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Diluted EPS The net profit/ (loss) after tax and the weighted average number of shares outstanding during the year are adjusted for all the effects of dilutive potential equity shares for calculating the diluted EPS. 15. the Company refers to independent appraisals (where available). The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. Other borrowing costs are recognized as an expense in the period in which they are incurred. Each lease rental paid is allocated between the liability and the interest cost. may be documented in one or more contracts. Barter Transactions Barter transactions are recognised at the fair value of consideration receivable or payable. In the normal course of business. 18. where the Group assumes substantially all the risks and rewards of ownership are classified as Finance leases. Assets which are acquired in the form of investments are recorded as Investments and accounted for accordingly. In determining their fair value. 16. Leases Assets taken under leases. as the case may be. However. When the fair value of the transactions cannot be measured reliably. Borrowing Costs Borrowing costs attributable to the acquisition. 98 Financial Statements . Deferred tax is recognised on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws substantially enacted as on the balance sheet date. are adjusted against the value of investments. Such assets are capitalised at the inception of the lease at the lower of fair value or the present value of minimum lease payments and a liability is created for an equivalent amount. 14. 1961 and/or the applicable local tax laws and based on expected outcome of the assessment.

Notes to the Accounts New Delhi Television Limited “the Company” was incorporated under the laws of India on September 8. 2008 100% 100% NDTV Three Holdings Limited Mauritius May 7.97% held by NNL 75. India December 26.0% held by NNPLC. 17% held by Company – 92.0% held by NNPLC 51% 50% held by Company. 2002 India May 27. March 28. 50% held by NNPLC 100% held by NDTV Emerging Markets BV India December 26.f August 31. 2010 Company NDTV Networks Plc (“NNPLC”) United November 30.f December 17.0% held by NNPLC 75.e. 2010 (Directly or (Directly or Indirectly) Indirectly) 74% Merged into the Company w. 2006 India Netherlands March 10.0% held by NNL 92. 2008 100% 100% 100% Netherlands December 28. 2008 February 19.0% held by NNL. 2010 74% 100% SUBSIDIARIES NDTV Media Limited (“NDTVM”) NDTV News Limited (“NDTVN”) India November 13. 2007 NDTV Middle East Ventures FZ LLC UAE May 6. 2006 Merged into NDTV 90% held by Networks BV w. 2006 92% held by NDTV 92% held by NDTV Kingdom One Holdings BV Limited Ceased to be a subsidiary w. 2008 Financial Statements 99 .e. 2011 on March 31. 2006 NDTV Networks Limited (“ NNL”) NDTV Labs Limited (“NDTV Labs”) NDTV Convergence Limited (“NDTV Convergence”) NDTV Lifestyle Holdings Private Limited (“NLHPL”) NDTV Lifestyle Limited (“NDTV Lifestyle”) Metronation Chennai Television Limited NDTV Emerging Markets BV India July 9.e.e. 2010) 100% 100% Ceased to be a subsidiary since placed under liquidation 100% Ceased to be a subsidiary since placed under liquidation 100% Liquidated w. 2010 (Certificate date March 23. Liquidated w. 1. 2011). 2010 51. 2008 April 24. 2010 85.1997 NDTV One Holdings Limited NDTV Two Holdings Limited Mauritius Mauritius April 24. The following companies are considered in the consolidated financial statements: Name of the Company Country of Incorporation Date of becoming Shareholding as Shareholding as a part of group on March 31. 2008 100% NDTV (Mauritius) Media Limited NDTV Four Holdings AB NDTV Networks BV (“NNBV”) NDTV BV Mauritius Sweden Netherlands August 29. 2008 January 9.0% 99. 1988.f March 25.f NNBV.f December 24. 2006 India December 26.Annual Report 2010-11 B.10% held by October 15. 2010 (appointed date April 1.e.e. 2011 since placed under liquidation India July 5. 17% held by Company – 92. 2010 Liquidated w. 2008 March 25.0% held by NLHPL 51% 100% held by NDTV one holdings Limited.f.

E. 2008 ASSOCIATE COMPANIES MERGED INTO THE COMPANY W. 2008 Sept 26. 2008 Sept 26. 4 1-4 Years1 100 Financial Statements . 2008 Sept 26.91% held by 90. 4 each. representing one share for each option upon exercise. approved by the shareholders on September 19. 2008 India July 28. 2005 provides for grant of 4. 2008 Sept 26. Mauritius Limited. 2010) NDTV Worldwide Private Limited (Associate Company till April 30.F APRIL 1. 2010 NDTV Studios Limited (“NDTV Studios”) NDTV News 24X7 Limited NDTV Business Limited New Delhi Television Media Limited NDTV Hindu Media Limited NDTV Delhi Limited NDTV India Plus Limited India NA 49% held by NDTV (Mauritius) Media Limited NA NA NA NA NA NA 100% held by NDTV Studios 100% held by NDTV Studios 100% held by NDTV Studios 100% held by NDTV Studios 100% held by NDTV Studios 100% held by NDTV Studios India India India India India India Sept 26. 9.Annual Report 2010-11 Name of the Company Country of Incorporation Date of becoming Shareholding as Shareholding as a part of group on March 31.057 thousand options to employees of the Company by the ESOP Committee at an exercise price of Rs. NDTV Delhi Limited 50% held by NNL 50% held by NNPLC 20% held by NDTV Emerging Markets BV India August 29. 2010 (Directly or (Directly or Indirectly) Indirectly) August 29.09% held by company. 2010) JOINT VENTURE NGEN Media Services Private Limited (“NGEN Media”) ASSOCIATES Astro Awani Networks Limited Mauritius Mauritius November 28. 2011 on March 31. 2010) NDTV Worldwide Mauritius Limited (Associate Company till April 30. 2008 100% held by NDTV one holdings Limited 100% held by NDTV (Mauritius) Multimedia Limited 100% held by NDTV Studios Limited 100% held by NDTV (Mauritius) Multimedia Limited NDTV (Mauritius) Multimedia Limited (Associate Company till April 30. The ESOP 2004.2 Rs.09% held by 9. The detail of options granted to employees under the ESOP 2004 is set out below: Date of Grant Market value on date of grant of the underlying equity shares Exercise Price Exercise Period 19-Sep-05 235. 2006 20% held by NDTV Emerging Markets BV Sept 22. 2008 2.91% held by NDTV Worldwide NDTV Worldwide Mauritius Limited. The maximum tenure of these options granted is 7 years from the date of grant. 2009 90. 2008 Sept 26. (a) Employee Stock Option Plan– ESOP 2004 The Company instituted the Employee Stock Option Plan – ESOP 2004 to grant equity-based incentives to all its eligible employees. 2006 Mauritius July 4.

425 shares issued on March 31. 3 Vesting period and volatility of the underlying equity shares have been considered for estimation.151 6. The Scheme was approved by the shareholders on March 10. 2 Being the interest rate applicable for maturity equal to the expected life of options based on zero-coupon yield curve for Government Securities. 873 thousand (Previous year 1.50 to 5. Accordingly. The Company has expensed Rs 39 thousand during the previous year as Employee Stock Compensation Expense. 2009 and provides for issue of 2. In accordance with the accounting treatment prescribed under the SEBI (Employee Stock option Scheme and Employee Stock Purchase Scheme) Guidelines. the historical volatility of another entity within the same industry has been considered. 2011 is Rs.000 - 25% to vest each year over a period of 4 years.146. Financial Statements 101 . The fair value of each stock option granted under ESOP 2004 as on the date of grant has been computed using Black-Scholes Option Pricing Formula and the model inputs are given as under: Date of Grant Weighted average share price on the grant date Volatility (%) Risk free rate 2 (%) Exercise Price Time to Maturity (years) Dividend Yield Life of options Weighted average fair value of options as at the grant date 1 3 19-Sep-05 Rs 235. Accordingly. 1999.764. 2009 to the eligible employees and transferred the liability outstanding of Rs.740 (Previous Year 1.435) shares out of 1.990) shares to be allotted under ESPS-2009.741.each. the Scheme was formulated in accordance with the SEBI (Employee Stock option Scheme and Employee Stock Purchase Scheme) Guidelines. granted to them under ESOP 2004. the Company instituted the Employee Stock Purchase Scheme 2009 (the “Scheme”) for compensating the aforesaid employees of the Company and its subsidiaries by granting shares thereunder. the liability outstanding as at the March 31.Annual Report 2010-11 Particulars Options outstanding at the beginning of the year Options granted Options forfeited Options exercised Options expired Options outstanding at the year end Options exercisable at the year end 1 Current Year - Previous Year 5. 1999.12 to 63.000 5.2009) In view of the proposed restructuring of the Company and its subsidiaries. The liability outstanding in respect of Employee share purchase outstanding as at March 31. 2011 in respect of Employee Stock Options outstanding is Rs Nil (previous year Rs.540 Equity Shares to the Eligible employees of the Company by the ESPS Committee at an exercise price of Rs. Employee Stock Purchase Scheme 2009 (ESPS.39 to 6.250 (Previous year 22.50 0%4 7 years Rs.222 thousand) to securities premium account. Nil).785 thousand) towards 11. 4/. 232. 4 Since the average price trend for earlier years was not available as the Company was listed in May 2004. during the year the Company has allotted 11.13 In view of the non availability of adequate historical data for the Company. the employees who had opted for the surrender of their stock vested/unvested/unexercised options. The balance deferred compensation expense is Rs Nil (previous year Rs Nil).79 Rs 4 2.20 50. dividend yield has not been considered. 911 thousand (Previous Year Rs 135.

Till Previous Year. an amount of Rs 29. partly paid up to the extent of Rs.69 18.348 equity shares amounting to 8% of Post issue Paid Up Equity Capital of NDTV Labs. (c) NDTV Labs . NDTV Lifestyle has identified beneficiaries for balance 241. The Fair value of the equity shares as on the date of identification was Rs 210. ‘000) Particulars Profit/(Loss) after tax as per Profit and Loss Account (a) Add : Employee Stock Compensation Expense (Net) as per Intrinsic Value Method Less : Employee Stock Compensation Expense (Net) as per Fair Value Method Profit/(Loss) after tax recomputed for recognition of employee stock compensation expense under fair value method (b) Basic Earnings per Share as computed on earnings as per (a) above (Rs) Diluted Earnings per Share as computed on earnings as per (a) above (Rs) Basic Earnings per Share as computed on earnings recomputed as per (b) above (Rs) Diluted Earnings per Share as computed on earnings recomputed as per (b) above (Rs) Current year (1.97) (26. The trust deed provides that if beneficiary employees cease to be an employee before the expiry of the period specified (vesting period).Annual Report 2010-11 The impact on the profit of the Company for the year ended March 31. NDTV Group Employees Trust would hold such shares on behalf of employees 102 Financial Statements . Out of the same.879) (26.97) (26.879) – – (1.Employee Stock Option The Board of Directors of NDTV Convergence on May 9.744 equity shares issued to the Trustees of NDTV Group Employees Trust. Out of the same.738.50 per share.176. (d) NDTV Convergence .872 shares were transferred in the name of beneficiaries by Trustees of NDTV Group Employees Trust.97) Previous year 1.Employee Stock Option The Board of Directors of NDTV Labs on May 9. 2008 have allotted 483. 120. 2008 have allotted 267 equity shares and 5.738.487 equity shares amounting to 8% of Post issue Paid Up Equity Capital of NDTV Lifestyle to the trustees of NDTV Group Employees Trust which would hold such shares on behalf of employees of NDTV Lifestyle and employees of the Company (ultimate parent) hereinafter referred to as beneficiaries as notified from time to time.058 1.69 (b) NDTV Lifestyle .067 equity shares to the consultants and trustees of NDTV Group Employees Trust respectively. 7.97) (26. The Trust Deed provides that if beneficiary employees cease to be an employee before the expiry of the period specified (vesting period).638 18.69 18.2008 have allotted 4.638 102.Employee Stock Option The Board of Directors of NDTV Lifestyle on May 9. NDTV Lifestyle has recognized the excess of Fair Value over the issue price as deferred employee compensation expense amortized over the vesting period as employee stock compensation expense. NDTV Lifestyle is recognizing the excess of the fair value based on independent valuation over the issue price as employee stock compensation expense over the vesting period. collectively amounting to 8% of Post issue Paid Up Equity Capital of NDTV Convergence.872 shares were transferred in the name of beneficiaries by Trustees of NDTV Group Employees Trust.743 thousands has been charged to the profit & loss account during the year. During the year. fully paid up to the trustees of NDTV Group Employees Trust which are holding such shares on behalf of employees of NDTV Labs and employees of the Company (ultimate parent) hereinafter referred to as beneficiaries as notified by NDTV Labs from time to time.10 per equity share based on independent valuation. Accordingly.176.743 equity shares issued to the Trustees of NDTV Group Employees Trust. 120. NDTV Lifestyle has identified beneficiaries in respect of 241.058 102. the employee will stand divested of all or part entitled shares on staggered basis. the employee will stand divested of all or part entitled shares on staggered basis.69 18. 2011 and the basic and diluted earnings per share had the Company followed the fair value method of accounting for stock options is set out below: Amount (Rs.

NGEN Media Services Private Limited. Additionally pursuant to Memorandum of Association. the NNPLC allotted 43.10 each in the capital of the NNPLC to certain employees and directors of the NNPLC. the employee will stand divested of all or part entitled shares on staggered basis. Accordingly. Financial Statements 103 . On April 30. 2011 and control of all the assets and liabilities as at March 28. Subsequently. 7. NDTV Labs Limited and Turner General Entertainment Networks Private Limited has been transferred to step down subsidiaries in India. Consequently. 5. Prior to this acquisition. NDTV Convergence is recognising the excess of the fair value based on independent valuation over the issue price over the vesting period. liquidation etc of its direct and indirect subsidiaries. 2010 with NDTV Networks BV. The Trust Deed provides that if beneficiary employees cease to be an employee before the expiry of the period specified (vesting period). NDTV Convergence Limited. the Board of Directors of the Company accorded an approval for the simplification of the international structure of the NDTV Group by way of consolidation. the Company and its subsidiaries NDTV Lifestyle Holdings Private Limited (“NLHPL”) and NDTV Networks Limited (“NNL”) have entered into an agreement with South Asia Creative Assets Limited (“SACAL”). 2010.650 convertible. 10% direct stake in NDTV BV and 50% stake in NDTV Emerging Markets BV has been transferred to NDTV Networks BV. production facilities etc. in order to provide anti dilution protection. Accordingly NNPLC has been put under liquidation on March 28. The convertible. NDTV Convergence has identified beneficiaries in respect of 2. NLHPS is the holding company of NDTV Lifestyle Limited which operates the ‘NDTV Goodtimes’ channel. SACAL has infused $ 40 mn in two tranches to gain 49% stake in NLHPS and the balance 51% is held by NNL.e. The proposed liquidation of NNPLC has been considered as modification of the plan and no incremental charge is being considered in the financial statement. With effect from April 1.f. NDTV BV has been merged on October 15. redeemable non-voting shares which provides that such shares shall be subject to transfer restrictions and to forfeiture in certain circumstances. 2011. 2011. 2010. NDTV Studios Ltd is engaged in building studios. redeemable non-voting shares will be converted into ordinary shares on the occurrence of a dilution event. 2010 has approved 4. Pursuant to the agreement.10 each. During the year. NDTV Networks Plc . the Company has entered into a 5 year agreement dated March 29. the shares held by NDTV Networks Plc in NDTV Lifestyle Limited. April 1. NDTV Studios Limited was merged with the Company w. During the year. a subsidiary of the Company. a. 267 equity shares issued to consultants were forfeited and transferred to trustees of NDTV Group Employees Trust.Annual Report 2010-11 (e) of NDTV Convergence and employees of the Company (ultimate parent) hereinafter referred to as beneficiaries. Also. Subsequently. 3. NNPLC is recognising the excess of fair value based on independent valuation over the issue price as employee compensation expense over the vesting period. During the year. the Company acquired a 51% stake in NDTV Studios Limited from NDTV Group Employees´ Trust. NDTV Studios Limited has become a 100% subsidiary of the Company and the results of operations of NDTV Studios Limited and its subsidiaries have been consolidated with those of the Company with effect from May 1. redeemable non-voting shares of GBP 0. 2011 with Star India Private Limited (“Star India”). each grantee of such shares has entered into an agreement in respect of their ordinary shares and convertible.334 (Net of forfeiture of 667) equity shares issued to the Trustee of the NDTV Group Employees Trust till March 31. for exclusive representation for advertising sales for the Company’s news channels in India. Scheme of Arrangement A) Merger of NDTV Studios Limited (and its Subsidiaries) and NDTV News Limited with the Company. 2011 has been transferred to the Official Liquidator.478 ordinary shares of GBP 0. NNPLC allotted 15. a subsidiary of Astro All Asia Networks Plc to create a strategic alliance for lifestyle channels in India. Consequently.Employee Stock Option On 8 May 2008 pursuant to the approval of shareholders and approval by Board in meeting. 2010. the Hon’ble High Court of Delhi in its order dated November 8. During the year. Company and its subsidiaries. NDTV Studios Limited was an associate of the Company. 6. the existing arrangement for these services with AIDEM Ventures Private Limited has been discontinued.

NDTV India Plus Limited.060.122.Annual Report 2010-11 b. c) The shares of the Transferor Companies in relation to the shares held by its members have been automatically cancelled. the Transferee Company has recorded all the assets and liabilities. i. property and liabilities of the Transferor Companies were transferred at their respective book values to and vested in the Transferee Company as a going concern in each case so as to become the properties and liabilities of the Transferee Company within the meaning of Section 2(1B) of the Income-tax Act.730 385.267 4. d) Accounting treatment: The merger of the Transferor Companies with the Transferee Company has been accounted for in accordance with the “Pooling of Interest Method”. The salient features of the Financial Reorganisation are as follows: a) The debit balance of the consolidated Profit and Loss Account of the Transferee Company as appearing in its audited financial statements for the year ending March 31. the Transferee Company has not issued any shares or paid any consideration to any of the Transferor Companies or to their shareholders.663. NDTV Hindu Media Limited. the Company has given effect to the Financial Reorganisation as provided in the scheme.602. NDTV Delhi Limited and NDTV News Limited (collectively referred to a ‘Transferor Company) into the Company (‘Transferee Company’) with effect from the appointed date i. including reserves/securities premium and profit and loss of the Transferor Companies vested in it pursuant to this Scheme. NDTV Business Limited. 2010 or created pursuant to this Scheme. Therefore. and – Securities Premium Account of the Transferee Company including Securities Premium Account of the Transferor Companies (pursuant to the Scheme). (i) In accordance with the scheme. NDTV News 24x7 Limited. to the extent required: – Capital Reserve created pursuant to the Scheme. 104 Financial Statements . The said order was filed with the Registrar of Companies. is arrived as under : Total Assets Total Liabilities and Reserves Net Addition to Capital Reserves Inter-Company Elimination in the Group in respect of investments by a group company in NDTV Studios Limited Net Addition to Capital Reserves 4. April 1.730 – B) Financial Reorganisation of Transferee Company by utilisation of reserves for adjustment of debit balance of profit and loss account. The salient features of the Scheme are as follows: a) The entire business and the whole of the undertaking(s). the Scheme of Arrangement (“Scheme”) for the merger of NDTV Studios Limited. The amount by which the aggregate of the book value of assets (other than investments in Transferor Companies) of the Transferor Companies vested in the Transferee Company exceeded the aggregate of book value of liabilities. New Delhi Television Media Limited. at their respective book values as appearing in the books of the Transferor Companies on the appointed date. has been adjusted against the following.e. 2010.507. in the order specified.602. reserves after adjustment by way of cancellation of the total amount recorded as investments in the merging companies in the books of the Transferee Company has been credited to capital reserve account of the Transferee Company. – Revaluation Reserve of the Transferee Company including Revaluation Reserve of the Transferor Companies (pursuant to the Scheme).e. e) The net addition to Reserves in Schedule 3 in the consolidated financial statements. 1961. 2010. Delhi & Haryana on December 17. in accordance with the Scheme of Arrangement. b) The entire share capital of all the Transferor Companies (equity or compulsorily convertible preference shares (CCPS) as the case may be) was held by the Transferee Company directly or indirectly through its subsidiary company(s).537 385.

on 23 February 2010 (“Closing Date”). Claims against the Company not acknowledged as debt: Rs.001 22. The transaction has resulted in goodwill of Rs. transferred to Turner Asia Pacific Ventures.60 Million) for NDTV Networks Plc shown in ‘other income’ (Schedule 16).564 thousand).12.48 million. Bank Guarantee Rs. NDTV Networks Plc. has repurchased the US$ 100 Million Step up Coupon Bonds due 2012.874 thousand in the consolidated financial statements representing the excess of the purchase consideration over share in the net assets of its subsidiary and shown under ‘Fixed Assets’ (Schedule 6). an indirect subsidiary of the Company.946. 11. NDTV Convergence Limited and NDTV Labs Limited.808 8. 251.592 shares representing 85. During the previous year. The transaction also involved a further infusion of a sum of US$ 50 million as equity capital in Turner General Entertainment Networks India Private Limited by TAPV.206 373. 580.68% of the issued and paid up equity share capital of Turner General Entertainment Networks India Private Limited (Formerly NDTV Imagine Limited) on the Closing date resulting in a decrease of NDTV Networks Plc’s stake in NDTV Imagine from 90.940. The Company has engaged reputed professional advisors to protect its interest and has been advised that it has strong legal positions against such dispute. 82. has bought back Universal Studios International BV’s 26 percent indirect stake in its subsidiary NDTV Networks Plc at a consideration of Rs. 2010 Amount (Rs. 9. not provided for (net of capital advances) Particulars Commitments Total As at March 31. through its subsidiary NDTV Networks BV.874 thousand following the decision to liquidate its subsidiary NDTV Networks Plc which was erstwhile holding company of NDTV Lifestyle Limited.001 As at March 31. During the previous year.425 thousand).220) 225. NDTV One Holdings Limited. On request of the liquidator. to further consolidate its position. The Bonds have been repurchased for US$ 72. The uncertainties and possible reimbursements are dependent on outcome of the legal process and therefore cannot be predicted accurately.564 thousand (Previous Year Rs.375 thousand (Previous Year .727 2.’000) 22. During the year. NDTV Networks Plc..239.Rs. The transaction resulted in a gain on buy back amounting to Rs.68% to 5% for a cash consideration aggregating to US$ 73. NDTV Networks Plc.Annual Report 2010-11 b) The reduction/adjustment in the debit balance of profit and loss account.’000) 2. NDTV Networks BV has impaired the aforesaid goodwill amounting to Rs. The amount represents the best possible estimate arrived at on the basis of available information. a subsidiary of the Company was put into liquidation on March 28. 2011. Estimated amount of contracts remaining to be executed on capital account. the Company and its subsidiary NDTV Networks Plc exercised its right to terminate the definitive agreement with Scripps Networks Interactive Inc. 10. c. Contingent Liabilities not provided for as in respect of: a.822 150. b. 580. a subsidiary of the Company being 100% shareholders of Financial Statements 105 .4 Million financed through bank loans. (“TAPV”) 12. which has resulted in further dilution to 3.5 million). 580. in accordance with the Scheme of Arrangement. 82. During the previous year. Inc. The same has been recognised as ‘loss on impairment’ in Schedule 20 to the financial statement. 2011 Amount (Rs. the Company. These have been issued in the ordinary course of business. is arrived as under : Particulars Capital Reserve Revaluation Reserve Securities Premium Total Amount (Rs) (2. During the year.727 13.233.874 thousands (US$12. entered into during the previous year for the sale of 69% stake in NDTV Lifestyle Limited (operating the lifestyle channel ‘NDTV Goodtimes’).638.828 Lacs (US$ 27.18%. 12. 2.

Prannoy Roy Radhika Roy K. CEO of NDTV Networks Plc till Feb 28. 2010 The Group has not created a further deferred tax asset (net) as there is no virtual certainty supported by convincing evidence at this stage.e.244 – – – – 167.f March 1.392 – – – (91.448 204. 2011 For the Year As at March 31.469 20.’000) Particulars Deferred tax assets on account of Accumulated Losses Provision for Expenses Provision for Doubtful Debtors/Advances Total deferred tax assets Deferred tax liability on account of Depreciation Total deferred tax liability Net Deferred Tax Asset/(Liability) (91.244 As at March 31. Segment Reporting The Group currently operates primarily in a single primary segment of Television Media as disclosed in the respective financial statements of the group companies. trademarks and defamation suits in relation to the programmes produced by it. 14. Director of NDTV Networks Plc (w. 2010. where control exists or with whom transactions were carried out during each year and description of relationship as identified and certified by the Group as per the requirements of Accounting Standard – 18 issued by the Institute of Chartered Accountants of India: Key Management Personnel (“KMP”) and their relatives Dr.392 167.327 16.852) 112. that sufficient future taxable income will be available against which such deferred tax asset can be realised. 2011 and Director of NDTV Networks Plc till July 14. 2011.V.327 16.469 20. accordingly there are no separate reportable segments in accordance with AS 17 – “Segment Reporting” issued by The Institute of Chartered Accountants of India.e. Names of related parties. that may arise in future.448 204. 2010 I P Bajpai Smeeta Chakrabarti Shyatto Raha Sameer Nair 106 Financial Statements . 16. has issued a comfort letter to the liquidator. Narayan Rao Vikramaditya Chandra Director Director Director CEO of NDTV Networks Limited w. NDTV Networks Plc. KMP till February 23. agreeing to meet contingent tax liability. Ceased to be a Director w.852) (91. In the opinion of the management supported by legal advice.852) 112.852) (91.f. Related Party Disclosures a.e. Feb 23. 15. The Company has received legal notices of claims/lawsuits filed against it relating to infringement of copyrights. 2010. no material liability is likely to arise on account of such claims/law suits.L. Deferred Taxes: Significant components of deferred tax assets and liabilities are shown in the following table: Amount (Rs.f 27th June 2009) (note B-1 on Schedule 21) CEO & Director of NDTV Lifestyle Limited CEO & Director of NDTV Worldwide Private Limited CEO & Director of Turner General Entertainment Networks India Private Limited (Formerly NDTV Imagine Limited).Annual Report 2010-11 d. if any.

996 4.434 – – 2.824 13.f 19th March 2007) & CEO (w.198 3.255 42.525 – – 857 – 857 – 241.438 – – – – – – – 4. Narayan Rao 4 Payment on account of dilution on conversion of CCPS of a subsidiary Sameer Nair (till Feb 23.185 7. KMP till Feb 23.060 – – 1.2 Sameer Nair (till Feb 23. the Key Management Personnel have received Ex-Gratia payment aggregating Rs Nil (previous year Rs 114. Prannoy Roy Vikramaditya Chandra Projit Chakrabarti Divya Laroyia Others 2 Services Availed of Pan Invest John O Loan Seema Chandra 2 3 Ex-Gratia3 K. subject to Central Government‘s Approval.884 48.525 – – 1. 2011 KMP Relatives Total 96.192 – 13.240 – 2.303 thousand paid to Directors for the year ended March 31.765 21.620 857 27. 14th Jan’09). 2011 and March 31.469 1.L.‘000) For the year ended March 31.V.202 24. 2010 KMP Relatives Total 233. Narayan Rao Smeeta Chakrabarti Sanvari Nair (till Feb 23.367 – – 20.765 21.202 24.2010) Dr.Annual Report 2010-11 Key Management Personnel (“KMP”) and their relatives Rajnish Babbar John O’Loan Pan Invest BV (Trust Company) Projit Chakrabarti Seema Chandra Sanvari Nair Divya Laroyia Disclosure of Related Party Transactions: For the year ended March 31.964 10.632 24.740 – 11.298 – – 22.e.828 39.613 27.828 39.255 42.366 50.805 188. Includes Directors’ Fees and Employee Stock Compensation Expense. NGEN Media Services Private Limited Director.740 3. NDTV Networks Plc (note B-1 on Schedule 21) Directors of Trust company are directors of NDTV Emerging Markets BV and NDTV Networks BV Husband of CEO of NDTV Lifestyle Limited Wife of CEO of NDTV Networks Limited Wife of CEO of Turner General Entertainment Networks India Private Limited (Formerly NDTV Imagine Limited). Financial Statements 107 .662 188.192 – 13.e. 2010 respectively that exceeds the minimum remuneration payable in case of inadequacy of profits. 2010 Wife of CEO of NDTV Worldwide Private Limited (Amount in Rs.434 – – – – – – 104.185 S.495 14.255 215.255 216.894 11.076) from Company’s overseas subsidiary.390 – 2.929 – – 20.S.434 – – – – – – Global Operating leader (w.390 – – – – – – – – 7.884 48.Nayak K.390 13.525 42.469 – 42. In addition.240 16.320 50.371 32.2010) Others 1 2 3 Includes Remuneration amounting to Rs. 8.298 4.371 32.613 27.996 – – 16.954 – – – – 3. No Nature of relationship / transaction 1 Remuneration Paid1.L.894 – – 4.046 thousand and Rs.495 14.2010) Sanvari Nair (till Feb 23.060 – 22.489 10.774 15.198 3.f.632 26.774 13. 4.V.620 – 27. 2010) L.

015 – 97.318 37.092 1.879.459.97) 4 Year Ended March 31.2010 7.527 11.390 The rental expense for the current year in respect of operating leases was Rs 184. 108 Financial Statements .) Adjustment for dilutive effect of share options granted Weighted average number of Equity Shares outstanding during the year for Diluted EPS (Nos.69 18.‘000) Year ended March 31.471.063 – 8.728 thousand (Previous Year Rs 320.180 (Amount in Rs.) Nominal Value per share (Rs) As on March 31’2011 KMP Relatives 4.470. 2011 7.97) (26.) Profit / (loss) attributable to Equity Shareholders (Rs.) Weighted average number of Equity Shares outstanding during the year (Nos.Annual Report 2010-11 Amount due to/ from related parties Nature of relationship/ transaction Outstanding Payables Outstanding Advances 17.) Basic Earnings / (loss) per Equity Share (Rs.746.713.993 (Amount in Rs.325 25 586 245 8.400 thousand).592 – 64.435 64.) Add: Fresh issue of equity shares Number of equity shares outstanding at year end (Nos. Auditors’ Remuneration Description Statutory Audit.634 99 546 Total 4.993 16 Total 11.864 Year Ended March 31.2011 81.69 4 19.700 25 49 90 7.176.‘000) Particulars Payable not later than 1 year Payable later than 1 year and not later than 5 year Payable later than five year Total minimum lease payments b) Year Ended March 31.622 1.327 1.) Diluted Earnings / (loss) per Equity Share (Rs. ii) a) The Company has taken commercial premises on lease which are non-cancelable for a period of 3 years.592 (1. Operating Leases i) The group has taken various residential/commercial premises/vehicles under cancelable operating leases.945. Earnings / (Loss) per share (EPS): Description Number of equity shares outstanding at the beginning of the year (Nos.704 5.2010 62.740 64.622 – 62.738. The future minimum lease payments in respect of the same are as follows: (Amount in Rs.‘000) As on March 31’2010 KMP Relatives 11.459.2011 64. including quarterly audits Tax Audit Out-of-pocket-expenses Certification Total 1 1 Excluding service tax 18.803 6. 2010 7.181 Year ended March 31.631 16.527 62. These lease agreements are normally renewed on expiry.302 37.646 Year Ended March 31.205) (26.470.945.309 18.638.267 64.

208) (3.631 Payable not later than 1 year Payable later than 1 year and not later than 5 year Total minimum lease payments 21.108 – 5.052 6.554 (8.319 (8.829 8.272 Future Present value Minimum interest of minimum Lease payable lease payments payments 1.422 33 (1.Annual Report 2010-11 20.884 79. Employee Benefits The Company has accounted for the long term defined benefits and contribution schemes as under: (A) Defined Benefits Scheme The Group provides for long term defined benefit schemes of gratuity on the basis of actuarial valuation on the Balance Sheet date based on the Projected Unit Credit Method.488 57. 2007 I Changes in the Present value of the Obligation: Obligations at year beginning Service Cost – Current Service Cost – Past Interest Cost Actuarial (gain) / loss Benefit Paid Less: Obligation on sale of subsidiary Adjustment on account of Merger Obligations at year end 79.902 89. In respect of the Company.876) (7.562 70 15.303 6.564) (6.420 Financial Statements 109 . 2008 For the Year ended March 31. The reconciliation of opening and closing balances of the present value of the defined benefit obligations are as below: (i) GRATUITY Amount (Rs.235 – 6.209 6. No Particulars For the Year ended March 31. ‘000s) As at March 31. ‘000) S. 2010 For the Year ended March 31.912) – (835) 113.063 25. gratuity benefits are funded through annual contributions to Life Insurance Corporation of India (LIC) (One of the subsidiary ‘NDTV Media Limited’ was funded in earlier years through Tata AIG). plant & machinery and computer software on finance lease arrangements.359 (3.386) – – 79.843 516 4.128) (4.484 77 17.663 (9.842) – – 69.922 7 1.632 23. 2010 Future Present value interest of minimum payable lease payment 3.926) – 79.488 18. The Group has taken computer equipment. 2011 For the Year ended March 31.799) (12.227 28. The future minimum lease payments in respect of the same are as follows: Amount (Rs.928 13.727 69.929 15.978 – 4. The gratuity benefit in other Companies of the group are unfunded and the Group recognise the actuarial gains and losses in the Profit & Loss account as income and expense in the period in which they occur.420 16.579 29.180) – – 94.624 – 6. 2009 For the Year ended March 31.561 As at March 31.587 2 14.359 19. Finance Leases. 2011 Particulars Minimum Lease payments 17. The actuarial valuation of the liability towards the Gratuity Retirement benefits of the employees is made on the basis of assumptions with respect to the variable elements affecting the computations including estimation of interest rate of earnings on contributions to LIC.

275 10.7872 Defined benefit obligations cost for the year Service Cost – Current 13.821 4.50% Expected return on plan assets 8.016 thousand for NDTV Media Limited’s employees recognised on actual basis and not as per actuarial valuation.832 4.140 thousand respectively considered separately.e. liability (net of fund balance) amounting to Rs.890 44.00% 5. Further.329 3.821) (4.021 2.00% 8.678 Actuarial gain / (loss) (399) 1 14 157 (30) Contributions – 10.072) (2.50% 5. The same has been considered in the opening balance for year ended March 31.1.673 thousand and Rs. 4.978 Service Cost – Past 28.740 9. ‘000) S.890 44.001 19.593 Liability recognised in the Balance Sheet 58. The demographic assumptions were as per the published rates of "Life Insurance Corporation of India (1994-96) Mortality Table (ultimate).2008 on formulation of the plan.50% 9.554 4.9552 51. 2008 For the Year ended March 31. at the beginning of the year) amounting to Rs. in the month of February 2007 has paid an advance of Rs. plan assets balance and present value of obligation as at March 31.422 Expected return on plan assets (4.678) Actuarial (gain) / loss (7.037 9. 2009 (i.546) (6.628 51.099 27.957 55. promotion and other relevant factors such as supply and demand factors in the employment market. 110 Financial Statements .00% The estimates of future salary increases.260 3.99% 7.786) (4.430 16.108 8.5.8271 Reconciliation of present value of the obligation and the fair value of the plan assets: Present value of the defined benefit 113.50% 5. which is considered a standard table.890 46. seniority. 1.674 5.50% 5.303 – – – – Interest Cost 6.989) (1.452 21. 2010 For the Year ended March 31.50% 9.00% Future salary increases 5.010 4.786 Investment details of plan assets 100% of the plan assets of the Company are lying in the Gratuity fund administered through Life Insurance Corporation of India (LIC) under its Group Gratuity Scheme (One of the subsidiary ‘NDTV Media Limited’ was funded in earlier years through Tata AIG).614 thousand to Tata AIG for funding its plan.30% 9.945 24.260) (3.628 51. As at March 31. considered in actuarial valuation. 1 2 NDTV Media Limited. 2009 For the Year ended March 31. since all the employees have left as on March 31.2010.827 the year 41.365) 64 Net defined benefit obligations cost 35.420 obligations at the end of the year Fair value of the plan assets at the end of 54. The principal assumptions used in determining post-employment benefit obligations are shown below: Discount Rate 7.832) (4.227 11. at fair value 54. a subsidiary.578) (8.319 6.158 Benefits paid (4. 2010.598 24.842) Plan assets at year end.097 51.562) (12. take account of inflation.50% 8.729) (8.097 53. 2007 II III IV V VI Change in plan assets: Plan assets at year beginning.786 4.957 55.75% 9.Annual Report 2010-11 Amount (Rs.727 79. 2011 For the Year ended March 31.488 69.097 53.00% 8.902 79. No Particulars For the Year ended March 31. at fair value 55.863 Expected return on plan assets 4.855 3.4411 40.992) (3.884 94.

Financial Statements 111 .00% (B) State Plans: The Group deposits an amount determined at a fixed percentage of Basic pay every month to the state administered provident fund for the benefit of the employees. at fair value Expected return on plan assets Actuarial gain / (loss) Contributions Benefits paid Plan assets at year end. The demographic assumptions were as per the published rates of “Life Insurance Corporation of India (1994-96) Mortality Table (ultimate). promotion and other relevant factors such as supply and demand factors in the employment market. the Group’s contribution during the year that has been charged to revenue amounts to Rs 67.00 % 10.00% pa thereafter thereafter Expected return on plan assets – – – – The estimates of future salary increases. March 31. considered in actuarial valuation.723 thousand).Annual Report 2010-11 (ii) LEAVE ENCASHMENT Amount (Rs.50% 8. March 31. (C) Provision for other Employee Benefits: Provision for other employee benefit represents termination benefits paid/payable as per the policy of the Company. 8% 8% 7. No Particulars I II III IV V VI Changes in the Present value of the Obligation: Obligations at year beginning Service Cost – Current Interest Cost Actuarial (gain) / loss Benefit Paid Obligations at year end Change in plan assets: Plan assets at year beginning. ‘000) For the For the For the For the Year ended Year ended Year ended Year ended March 31. Accordingly.40% 8. seniority.50 % 11. March 31. take account of inflation. 2011 2010 2009 2008 379 181 30 (82) (81) 427 – – – – – – 427 – 427 181 30 – (82) 129 – 417 172 31 (214) (27) 379 – – – – – – 379 – 379 172 31 – (214) (11) – 141 291 12 (14) (13) 417 – – – – – – 417 – 417 291 12 – (14) 289 – – 128 – 24 (11) 141 – – – – – – 141 – 141 128 – – 24 152 – S.00% pa 8. at fair value Reconciliation of present value of the obligation and the fair value of the plan assets: Present value of the defined benefit obligations at the end of the year Fair value of the plan assets at the end of the year Liability recognised in the Balance Sheet Defined benefit obligations cost for the year Service Cost – Current Interest Cost Expected return on plan assets Actuarial (gain) / loss Net defined benefit obligations cost Investment details of plan assets The principal assumptions used in determining post-employment benefit obligations are shown below: Discount Rate Future salary increases 8.126 thousand (Previous year Rs 86. which is considered a standard table.50 % pa for first pa for first 3 years & 3 years & 7.

242 thousand has been recognised as 'loss on impairment' in the profit and loss account. the consolidated results for the year ended March 31.416) Year ended March 31.203 34.267 27. Prannoy Roy Chairman Radhika Roy K V L Narayan Rao Managing Director CEO and Whole Time Director Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer 112 Financial Statements . 2011 are not comparable with the corresponding previous year. the Company and its subsidiaries NLHPS and NNL have entered into an agreement with South Asia Creative Assets Limited (“SACAL”). wherein SACAL has obtained 49% stake in NLHPS for $ 40 mn and the balance 51% is held by NNL. Therefore. 2011 are: Name of the Company NGEN Media Services Private Limited Country of Incorporation India % Voting power held As at March 31. Figures of the previous year have been regrouped wherever necessary to conform current year’s grouping and classification. in jointly controlled entities as at March 31. the excess of the carrying value of these assets as on March 31.456 (14. 26. 2011 50% The following amounts represent the Groups share of the assets and liabilities and revenue and expenses of the joint venture and are included in the consolidated balance sheet and consolidated profit & loss account: Amount (Rs. the Company is confident of its ability to continue operations for the foreseeable future and accordingly the accounts of the Company and the Group are prepared on a going concern basis.292 975 – 975 As at March 31. 3. Figures pertaining to the subsidiaries / Joint Ventures have been reclassified wherever necessary to bring them in line with the Parent Company’s financial statements. 2010 5. 70. 5.741 (66. 2011 28. Further. Interest in Joint Ventures The Company’s interests.Annual Report 2010-11 22.451 504 7. 2010.391) Year ended March 31. 2010 20. the Company's subsidiaries have identified Fixed assets for impairment in accordance with AS-28 on "Impairment of assets". The consolidated results for the year ended March 31.130 thousand) relates to interest for the month of March paid subsequently as the same was not debited by the bank as on March 31st. 2010 include the results of operations of Turner General Entertainment Networks India Private Limited (formerly NDTV Imagine Limited) and its subsidiaries in which the Group had diluted its holding to a minority stake on February 23.171 (67. 2011. aggregating Rs.253) – (14. Based on these actions and its business plans. 25.030 thousand (Previous Year Rs. During the year. Keeping the current economic environment and other factors in mind. the Company and its subsidiaries have recast their business plans and streamlined operations. ‘000) Particulars Assets Fixed Assets Current Assets Liabilities Secured Loans Current Liabilities & Provisions Reserves & Surplus Particulars Revenues Sales Expenditure Profit before Tax Provision for Tax Profit after Tax As at March 31.253) 23. 2011 For and on behalf of the Board Dr. as a venture. Interest accrued and due amounting to Rs.834 19. Accordingly. For Price Waterhouse Chartered Accountants Firm Registration No: FRN007568S Anupam Dhawan Partner Membership Number F-84451 Place of Signing : New Delhi Date : May 3. 2011 1.085 23.836 155 5. over their recoverable amount (based on management estimate of net realizable value of such assets). 24.

522.674 (179.805.151.000 360.900 430.546) – 1 Capital 5.646 857.477.794.794 (3.151.164.431.925) 10 Proposed Dividend – S.047 5 Investments 45 6 Turnover 507.800.875 102.673.500) – (3.538 75.805.987) 2.800 10.417 5.120.709.340.000.524.882 1.735 4.595 5 Investments 1.060.296 11.630 (32.590.706.288.100.941.273 236.532.296 (83.053 2.000 – (3.487.593.232 (21.449 3.043 – – – – 19.000 31.080 998.555.552 (179.735 226.028.619.528.810 2.351 20.452 340.722) 2.541.305.693 69.842.040.613) 10 Proposed Dividend – For and on behalf of the Board Dr.063 7 Profit before Taxation (6. NDTV Lifestyle Holding Private Limited 1 3.968 5.763 8.842.545 7.141.209.258 2 Reserves (319.107.273) 2.103.003 129.052.771) 198.654 3.375 129.495.097.938.711 (6.590.780.361) 8 Provision for Taxation 47.232 (229.083.003 129.211 3.411.181.040.646 – 492.959 – 287.989) 8.092.895) – (6.257) 2.595 3 Total Assets 140.No Name of the subsidiary 1.665.625.959.055.258 – (6.464 305.704.763 69.104) – – – – – 11.023.970. 2011 Anoop Singh Juneja Company Secretary Saurav Banerjee Chief Financial Officer 113 .654 2.100.599.000.136.127 9.477.986.488.468.000 1.555.002.080 998.516.252 9 Profit after taxation (6.613.080 5.043 653.260.374.958.808) 8.800.164.043 – 69.938.285.306.717.273 235.211) 3 Total Assets 5.834 321.459.151.922 19.040.763 1.Statement pursuant to Section 212 of the Companies Act.464 305.023.495.696 12.588.160 2 Reserves 129.182.209.No Name of the subsidiary NDTV Media Ltd.746 857.151.236 229.435.411.780.879) – (229.230 125.595 4 Total Liabilities 140.821 1.122.895) – NDTV (Mauritius) Media Ltd 4.748.016) – (6.107.000.122 – 21.647 – 329.701 8.252.978 7 Profit before Taxation (123.209.055.198 – Capital 11.970.459.232 (21.083.047 4 Total Liabilities 5.593. Prannoy Roy Chairman Radhika Roy Managing Director K V L Narayan Rao CEO and Whole Time Director Financial Statements Annual Report 2010-11 Place of Signing : New Delhi Date : May 3.775 270.198.362.181.500) – 1.702.977.354 152.597.081 190.417 5.701 10.049.701 – 10.528.559 (3.665.718.000 – 55.098 9 Profit after taxation (123.793.637.127 75.590.845 (38.000 6 Turnover 36.438.372.354 198.053 2.079 (75.426.449 461.060.630 (36.704.000 1.804.209.827) 8 Provision for Taxation 19.159 55.611 8.521) 211.706.780.293.950.469.000 (12.893 2.834 321.793.347 12.659.043 – NDTV Networks Limited (Formerly NDTV Networks Private Limited) NDTV Emerging Markets BV S.702.817) – 469.202.202.179 236.984 – 4.699 329.793.958 – 993.081 190.767.000 – 1.206.989) 63.107.127 56.879) – NDTV Networks BV NDTV Worldwide Private Limited NDTV Worldwide Metronation Mauritius Limited Chennai Television Limited NDTV One Holdings Ltd NDTV Two Holdings Ltd NDTV Three NDTV Four Holding Holdings Ltd AB 8.726.585.934.932.772 3.100.710.021.938.697.224 26.483.941.912.875 2.374.301.839 1.647 – 1.326 4.500 74.599.016) – – – 13.763 – 8.1956 relating to subsidiary companies : NDTV Lifestyle NDTV Convergence NDTV Labs Limited NDTV Networks Plc NDTV (Mauritius) Limited Limited Multimedia Limited (Formerly NDTV Five Holdings Limited) 60.

Annual Report 2010-11 NOTES 114 Financial Statements .

Annual Report 2010-11 NOTES Financial Statements 115 .

Annual Report 2010-11 NOTES 116 Financial Statements .

Annual Report 2010-11 34 Financial Statements .

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