Mar 31, 2015
Company Overview
Hathway Bhawani Cabletel and Datacom Limited (the Company) is a Public
Company domiciled in India and incorporated under the provisions of the
Companies Act. 1956. The Company is engaged in distribution of
television channels through analog and digital cable distribution
network and internet services through cable. Its equity shares are
listed on Bombay Stock Exchange Limited (BSE) in India.
1.01 In the opinion of the Board, the loans & advances, trade
receivables and all other assets have a realizable value in the
ordinary course of business not less than the amount at which they are
stated in the Balance sheet
1.02 Capital And Other Commitments
Estimated amount of contracts (net of advances) remaining to be
executed on capital account and not provided for aggregate to Rs. Nil
(March 31, 2014: Rs. Nil).
The Company in its ordinary course of business has promoted / acquired
interest in various entities. Considering the long-term involvement of
the Company in these entities and strategic impact it has on the
business of the Company, the Company has committed to provide operating
and financial support to these entities.
1.03 Contingent Liabilities
(a) Claims against the Company not acknowledged, as debts are Rs.
2,100,000 (March 31, 2014: Rs. 2,100,000).
(b) Outstanding Bank Guarantees Rs. 1,200,000 /- (March 31, 2014: Rs.
1,200,000).
1.04 Employee Benefits
(a) Defined Benefit Plans:
The present value of the defined benefit obligations and the related
current service cost were measured using the objected Unit Credit
Method, with actuarial valuations being carried out at each balance
sheet date.
1.05 Segmental Reporting
The Company has only one reportable segment. The Company's operations
are based in India.
1.06 Related Party Disclosures
I. Controlled by:
a. Hathway Cable & Datacom Ltd.
II. Under the control of the Company
a. Hathway Bhawani NDS Network Pvt.Ltd.
b. Hathway Bhawani Sai Network Pvt.Ltd. (up to March 31, 2014)
III. Other related parties with whom the Company had transactions.
a. Mr. Samson Jesudas ( Managing Director with effect from June 1, 2014
)
b. Mr. Kuldeep Puri ( Managing Director- up to May 31, 2014)
c. Mr. Kulbhushan Puri as Karta Of M/s Kulbhushan Puri HUF (Relative Of
Managing Director - up to May 31, 2014)
1.07 Leases
The Company has leasing arrangements in terms of Accounting Standard 19
on "Leases" as applicable. These leasing arrangements, which are
cancelable, range between 11 months to 33 months and are usually
renewable by mutual consent on mutually agreeable terms. The amount of
such lease rentals debited to the Statement of Profit and Loss for the
year is Rs 4,358,340/- (March 31, 2014: Rs 4,117,175/-).
1.08 The enactment of the Companies Act, 2013 requires that the Company
should reassess useful life of its fixed assets and provide
depreciation based on such re-assessment with effect from April 1,
2014. The Company has decided to provide depreciation on all fixed
assets, except Set top boxes on straight line basis (SLM) as against
written down value basis (WDV) based on useful life specified in
Schedule II to the said Act. There is no change in the method of
depreciation for Set top boxes.
(a) This change has resulted in net surplus of Rs. 2,566,759 (March 31,
2014 ; Rs. Nil) and is disclosed under as Exceptional Items. Had the
Company continued to use the earlier method of depreciation, the debit
to the statement of profit and loss after tax for the current period
(year to date) would have been lower by Rs. 447,953 (March 31, 2014 ; Rs.
Nil)
(b) Based on transitional provision provided in Note 7(b) of Schedule
II to the Act, the charge to retained earnings in respect of assets
having no useful life as on the effective date, net of deferred tax is
Rs. 17,27,105 (March 31 2014 ; Rs. Nil).
1.09 Supplementary statutory information required to be given pursuant
to Clause 32 of the listing agreement -Nil.
1.10 Previous year figures have been rearranged and regrouped wherever
necessary.
Mar 31, 2014
1.01 In the opinion of the Board, the loans & advances, trade
receivables and all other assets have a realizable value in the
ordinary course of business not less than the amount at which they are
stated in the Balance sheet
1.02 CAPITALAND OTHER COMMITMENTS
Estimated amount of contracts (net of advances) remaining to be
executed on capital account and not provided for aggregate to Rs. Nil
(RY. Nil).
The Company in its ordinary course of business has promoted / acquired
interest in various entities. Considering the long-term involvement of
the Company in these entities and strategic impact it has on the
business of the Company, the Company has committed to provide operating
and financial support to these entities.
1.03 CONTINGENT LIABILITIES
(a) Claims against the Company not acknowledged, as debts are
Rs.2,100,000/-(Previous Year Rs. 2,100,000/-).
(b) Outstanding Bank Guarantees Rs.1,200,000 /- (Previous Year Rs.
1,200,000/-).
1.04 EMPLOYEE BENEFITS
(a) Defined Benefit Plans:
The present value of the defined benefit obligations and the related
current service cost were measured using the objected Unit Credit
Method, with actuarial valuations being carried out at each balance
sheet date.
The following table provides the disclosures in accordance with Revised
AS 15.
Reconciliation of opening and closing balance of the present value of
the defined benefit obligation and plan assets:
b) Defined Contribution Plans:
"Contribution to provident and other funds" is recognised as an expense
in the Statement of Profit and Loss Account.
1.05 SEGMENTAL REPORTING
The Company is a Multi System Operator providing Cable Television
Network Services, Internet Sea''ices and allied services which is
considered as the only reportable segment. The Company''s operations are
based in India.
1.06 RELATED PARTY DISCLOSURES
I. Enterprise where control exists:
a. Hathway Cable & Datacom Ltd.
II. Under the control of the Company
a. Hathway Bhawani NDS Network Pvt.Ltd.
b. Hathway Bhawani Sai Network Pvt.Ltd.
III. Other related parties with whom the Company had transactions.
a) Mr. Kuldeep Puri as Managing Director- Key Management Personnel
1.07 LEASES
The Company has leasing arrangements in terms of Accounting Standard 19
on "Leases" as applicable. These leasing arrangements, which are
cancelable, range between 11 months to 33 months and are usually
renewable by mutual consent on mutually agreeable terms. The amount of
such lease rentals debited to the Statement of Profit and Loss for the
year is Rs.4,117,175/- (Previous Year Rs. 4,040,339/-).
1.08 Pursuant to introduction of DAS, in terms of TRAI Regulations the
Company is required to inter alia generate subscriber level billing and
enter into inter connect agreements with local cable operators with
effect from 1st November 2012 However due to market conditions, the
Company had still to fully implement the regulations as stipulated by
TRAI. Accordingly, Subcription income recognized by the management for
the period beginning from 1st November 2012 amounting to Rs. 447.29
Lacs is on their best estimate basis. The management has reviewed the
outstanding receivables and are certain that it is stated at realizable
amount and no provisions / reversal is required.
1.09 Supplementary statutory information required to be given pursuant
to Clause 32 of the listing agreement -Nil.
1.10 Previous year figures have been rearranged and regrouped wherever
necessary.
Mar 31, 2013
1.1 In the opinion of the Board, the long term loans & advances, trade
receivables and all current assets have a realizable value in the
ordinary course of business not less than the amount at which they are
stated in the Balance sheet
1.2 The Trade Receivables includes amount due from disconnected /
inactive customers and outstanding in excess of one year. The Company
is taking adequate steps for recovery of overdue debts and advances and
wherever necessary, adequate provisions have been made. In the opinion
of the Board, long-term Loans & Advances, Trade Receivables and Current
Assets have a realizable value in the ordinary course of business not
less than the amount at which they are stated in the Balance Sheet.
1.3 CAPITAL OTHER COMMITMENT
Estimated amount of contracts (net of advances) remaining to be
executed on capital account and not provided for aggregate to Rs.Nil
(P.Y. Nil).
The Company in its ordinary course of business has promoted / acquired
interest in various entities. Considering the long-term involvement of
the Company in these entities and strategic impact it has on the
business of the Company, the Company has committed to provide operating
and financial support to these entities.
1.4 CONTINGENT LIABILITIES : (a) Claims against the Company not
acknowledged, as debts are Rs.2,100,000/-(Previous Year Rs.
2,100,000/-).
(b) Outstanding Bank Guarantees Rs.1,200,000 /- (Previous Year Rs.
1,200,000/-).
4.7 EMPLOYEE BENEFITS
a) Defined Benefit Plans:
The present value of the defined benefit obligations and the related
current service cost were measured using the objected Unit Credit
Method, with actuarial valuations being carried out at each balance
sheet date.
The following table provides the disclosures in accordance with Revised
AS 15. Reconciliation of opening and closing balance of the present
value of the defined benefit obligation and plan assets:
b) Defined Contribution Plans:
"Contribution to provident and other funds" is recognized as an expense
in the Statement of Profit and Loss Account.
1.5 SEGMENTAL REPORTING
The Company is a Multi System Operator providing Cable Television
Network Services, Internet Services and allied services which is
considered as the only reportable segment. The Company''s operations are
based in India.
1.6 RELATED PARTY DISCLOSURES
I. Enterprise where control exists:
a. Hathway Cable & Datacom Ltd.
II. Under the control of the Company
a. Hathway Bhawani NDS Network PvtLtd.
b. Hathway Bhawani Sai Network PvtLtd.
III. Other related parties with whom the Company had transactions.
a) Mr. Kuldeep Puri as Managing Director- Key Management Personnel
b) Mr. Kulbhushan Puri as Karta of M/s Kulbhushan Puri HUF
1.7 LEASES
The Company has leasing arrangements in terms of Accounting Standard 19
on "Leases'' as applicable. These leasing arrangements, which are
cancelable, range between 11 months to 33 months and are usually
renewable by mutual consent on mutually agreeable terms. The amount of
such lease rentals debited to the Statement of Profit and Loss for the
year is Rs.4,040,339 (Previous Year Rs. 3,676,492/-).
1.8 With effect from November 01, 2012 vide notification no
S.0.1408(E) dated June 21, 2012, DAS was introduced in the four
metropolitan cities of the country. Under DAS scenario, the Company as
well as other Multi System Operators are in the process of finalizing
the fresh terms of revenue sharing arrangement with the Local Cable
Operators through whom cable television services are rendered to
ultimate subscribers. Pending finalization of legally enforceable
contracts / arrangements, the Company has estimated activation fees and
subscription and has raised invoices. Such estimation is based on
ongoing discussions with LCOs, market trend and also considering the
collections made till date. Since such estimation are on conservative
basis, the management has reasonable certainty of collecting the amount
billed to the LCOs. The management has reviewed the status on constant
basis and wherever felt necessary, has issued credit notes to reverse
the revenue.*
1.9 Supplementary statutory information required to be given pursuant
to Clause 32 of the listing agreement -Nil.
1.10 previous year figures have been rearranged and regrouped wherever
necessary.
Mar 31, 2012
A) The Company has only one class of shares referred to as equity
shares having a face value ofRs.10/-. Each holder of equity shares is
entitled to one vote per share and proportionate amount of dividend if
declared to the total number of shares. In the event of liquidation of
the company, the holders of equity shares will be entitled to receive
remainging assets of the company, after distribution of all
preferential amounts in proportion to the number of equity shares held
by the share holders.
In the absence of virtual certainty of availability of taxable business
income in near future against which the deferred tax assets can bo
adjusted, the Company has not recognized deferred tax assets on
unabsorbed depreciation and business losses.
*As per the information available with the Company, none of the
creditors qualify as supplier under The Micro, Small and Medium
Enterprises Development Act, 2006 ("the Act") and accordingly no
disclosure is made pursuant to section 22 of the Act.
1.1 Additional information as required under para 5 (viii) of part ii
of Revised Schedule VI to the Companies Act, 1956 has been given to the
extent applicable to the company.
1.2 In the opinion of the Board, the long term loans & advances, trade
receivables and all current assets have a realizable value in the
ordinary course of business not less than the amount at which they are
stated in the Balancesheet
1.3 The Trade Receivables includes amount due from disconnected /
inactive customers and outstanding in excess of one year. The Company
is taking adequate steps for recovery of overdue debts and advances and
wherever necessary, adequate provisions have been made. In the opinion
of the Board, long-term Loans & Advances, Trade Receivables and Current
Assets have a realizable value in the ordinary course of business not
less than the amount at which they are stated in the balance sheet.
1.4 CAPITAL COMMITMENT
Estimated amount of contracts (net of advances) remaining to be
executed on capital account and not provided for aggregate to Rs.Nil
(P.Y.Rs.Nil).
The Company in its ordinary course of business has promoted / acquired
interest in various entities. Considering the long-term involvement of
the Company in these entities and strategic impact it has on the
business of the Company, the Company has committed to provide operating
and financial support to these entities.
1.5 CONTINGENT LIABILITIES
(a) Claims against the Company not acknowledged, as debts are
Rs.2,100,000/-(Previous Year Rs. 2,100,000/-).
(b) Outstanding Bank Guarantees Rs.1,200,000 /- (Previous Year Rs.
1,228,090/-).
1.6 EMPLOYEE BENEFITS
a) Defined Benefit Plans:
The present value of the defined benefit obligations and the related
current service cost were measured using the Projected Unit Credit
Method, with actuarial valuations being carried out at each balance
sheet date.
The following table provides the disclosures in accordance with Revised
AS 15.
b) Defined Contribution Plans:
"Contribution to provident and other funds" is recognised as an
expense in note no 3.5 of the Statement of Profit and Loss Account.
1.7 SEGMENTAL REPORTING
The Company is a Multi System Operator providing Cable Television
Network Services, Internet Services and allied services which is
considered as the only reportable segment. The Company's operations
are based in India.
1.8 RELATED PARTY DISCLOSURES
I. Enterprise where control exists:
a. Hathway Cable & Datacom Ltd.
II. Under the control of the Company
a. Hathway Bhawani NDS Network Pvt.Ltd.
b. Hathway Bhawani Sai Network Pvt.Ltd.
III. Other related parties with whom the Company had transactions.
a) Mr. Kuldeep Puri as Managing Director- Key Management Personnel
b) Mr. Kulbhushan Puri as Karta Of M/s Kulbhushan Puri HUF
1.9 LEASES
The Company has leasing arrangements in terms of Accounting Standard 19
on "Leases" as applicable. These leasing arrangements, which are
cancelable, range between 11 months to 33 months and are usually
renewable by mutual consent on mutually agreeable terms. The amount of
such lease rentals debited to the Statement of Profit and Loss for the
year is Rs.3,676,492 (Previous Year Rs. 3,303,810).
1.10 INTANGIBLE ASSETS
Based on factors such as past experience, industry trends, value added
services and quality of services provided by the Company, trends in
other countries, various changes proposed in the regulations governing
the industry, future business plans, estimated residual value etc., the
Company is of the opinion that the useful life of the Cable Television
Franchise acquired by the company will exceed twenty years.
Accordingly, the same has been amortised over a period of twenty years
from date of acquisition.
1.11 Supplementary statutory information required to be given pursuant
to Clause 32 of the listing agreement -Nil.
1.12 Till the year ended March 31, 2011, pre-revised Schedule VI to the
Companies Act 1956 was being used for preparation and presentation of
financial statements. During the year ended March 31, 2012, the revised
Schedule VI notified under the Companies Act 1956, has become
applicable to the company. Accordingly, the company has reclassified
previous year figures to confirm to this year's classification. On
adoption of the revised Schedule VI, there has been no significant
impact on recognition and measurement principles followed for
preparation of financial statements.
Mar 31, 2010
1) Under the Micro, Small and Medium Enterprises Development Act, 2006,
certain disclosures are required to be made relating to Micro & Small
Enterprises. The Company is in the process of compiling relevant
information from its supplier about their coverage under the said Act.
Since the relevant information is not readily available, no disclosures
have been made in the accounts. However, in view of the management,
the impact of interest, if any, that may be payable in accordance with
the provisions of this Act is not expected to be material.
2) Debtors, Creditors, Loans & advances and deposits are taken as
appearing in the books and are subject to confirmation. In the opinion
of the management, the Debtors and Loans & advances have a realisable
value in the ordinary course of business not less than the amount at
which they are stated in the Balance Sheet and wherever necessary,
adequate provision have been made.
3) CONTINGENT LIABILITIES
(a) Claims against the Company not acknowledged, as debts are
Rs.2,100,000/- (Previous Year Rs. 2,532,647/-).
(b) Outstanding Bank Guarantees Rs. 1,228,090/-(Previous Year Rs.
1,714,090/-).
4) REVISED ACCOUNTING STANDARD 15 a) Defined Benefit Plans:
The present value of the defined benefit obligations and the related
current service cost were measured using the Projected Unit Credit
Method, with actuarial valuations being carried out at each balance
sheet date.
5) SEGMENTAL REPORTING
The Company is a Multi System Operator providing Cable Television
Network Services, Internet Services and allied services which is
considered as the only reportable segment. The Companys operations are
based in India.
6) LEASES
The Company has leasing arrangements in terms of Accounting Standard
-19 on "Leases" as applicable. These leasing arrangements, which are
not non-cancelable generally, range between 11 months to 33 months and
are usually renewable by mutual consent on mutually agreeable terms.
The amount of such lease rentals debited to the Profit & Loss Account
for the year is Rs. 3,250,532 (Previous Year Rs. 2,821,379).
7) INTANGIBLE ASSETS
Based on factors such as past experience, industry trends, value added
services and quality of services provided by the Company, trends in
other countries, various changes proposed in the regulations governing
the industry, future business plans, estimated residual value etc., the
Company is of the opinion that the useful life of the Cable Television
Franchise acquired by the company will exceed twenty years.
Accordingly, the same has been amortised over a period of twenty years
from date of acquisition.
8) Supplementary statutory information required to be given pursuant
to Clause 32 of the listing aqreement.Nil