Mar 31, 2015
1.1 General
The financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP) and the Accounting Standards notified under the relevant
provisions of the Companies Act, 2013. The financial statements have
been prepared on accrual basis under the historical cost convention.
The accounting policies adopted in the preparation of the financial
statements are consistent with those followed in the previous year.
1.2 Use of Estimate
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognized in the periods in which
the results are known / materialize.
1.3 Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized when the company has a present obligation as
a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to its
present value and are determined based on best estimate to settle the
obligation at the balance sheet date. These are reviewed at each
balance sheet date and adjusted to affect the current best estimates.
Contingent liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
1.4 Fixed Assets
Tangible Fixed Assets
Tangible Fixed Assets are stated at cost of acquisition as reduced by
accumulated depreciation and impairment losses, if any. Acquisition
cost comprises of the purchase price and attributable cost incurred for
bringing the asset to its working condition for its intended use.
Intangible Fixed Assets
Intangible Fixed Assets are carried at cost less accumulated
amortization and impairment losses, if any. The Cost of intangible
assets comprises of cost of purchase, production cost and any
attributable expenditure on making the asset ready for its intended
use.
Capital Work in Progress :
Capital work in progress are assets that are not yet ready for their
intended use which comprises cost of purchase and related attributable
expenditures.
1.5 Depreciation/Amortization
Tangible Fixed Assets
Depreciation on Fixed Assets has been provided based on the useful life
of the asset and in the manner as prescribed in Schedule II to the
Companies Act, 2013.
Improvement to Lease Assets is amortized over a balance period of lease
on straight line basis.
Intangible Fixed Assets
Intangible fixed assets comprising of Business & Commercial right are
amortized over a period of 10 years and Software are amortized over a
period of 3 years on Pro Rata Basis.
1.6 Inventories
Cassettes and tapes are charged of fully in the year of purchase.
Inventories, if any are valued at lower of cost or net realizable
value. The cost of each episode of program is determined on the basis
of average cost.
Where carrying amount of inventories does not exceeds recoverable
amount in the ordinary course of business or where management does not
anticipate any future economic benefit flowing from it appropriate
loss has been provided.
1.7 Revenue Recognition
Revenue from sale of program/content rights is recognized when the
relevant program/content is delivered.
In respect of Interest Income, it is recognized on a time proportion
basis taking into account the amount outstanding and the rate
applicable.
1.8 Foreign Currency Transactions
Initial Recognition
Foreign Currency Transactions are recorded in the reporting currency
i.e. rupee value, by applying the exchange rate, between the reporting
currency and the foreign currency, to the foreign currency amount at
the date of the transaction.
Conversion
Foreign Currency monetary items are reported using the closing rate.
Non-monetary items which are carried in terms of historical cost
denominated in a foreign currency are reported using the exchange rate
at the date of the transaction.
Exchange Differences
Exchange Differences arising on the settlement of monetary items or
conversion of monetary items at balance sheet date are recognized as
income or expenses.
1.9 Investments
Investments that are intended to be held for more than a year are
classified as Non-current investments. The Non-current Investments are
carried at cost of acquisition. Provision for diminution in value is
made if the decline in the value is other than temporary in the opinion
of the management. Current Investments are stated at cost or realizable
value whichever is lower.
1.10 Employee Benefits
Defined Contribution Plan
Payments to defined contribution plan are charged to profit & loss
account when contributions to respective funds are due.
Defined Benefit Plan
Employee benefits for Defined benefit schemes, such as leave encashment
and gratuity, are provided on the basis of actuary valuation taken at
the end of each year.
Other short -term employee benefits are charged to profit & loss
account on accrual basis.
1.11 Borrowing Cost
Borrowing costs directly attributable to development of qualifying
asset are capitalized till the date qualifying asset is ready for put
to use for its intended purpose. Other Borrowing costs are recognized
as expense and charged to profit & loss account.
1.12 Leases
Operating Lease expenses are charged to profit and loss account on
accrual basis.
1.13 Taxes on Income
Current Tax provision is made based on the tax liability computed after
considering tax allowances and exemptions at the Balance Sheet date as
per Income Tax Act, 1961.
Deferred tax reflects the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based
on the tax rates and the tax laws enacted or substantively enacted at
the Balance Sheet date.
Deferred Tax Asset is recognized only to the extent that there is
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
Deferred tax assets are recognized on carry forward of unabsorbed
depreciation and tax losses only if there is virtual certainty that
such deferred tax assets can be realized against future taxable
profits.
The carrying amount of Deferred Tax Assets are reviewed at each balance
sheet date and written down or written up, to reflect the amount that
is reasonably or virtually certain, as the case may be, to be realized.
1.14 Earnings Per Share
Basic Earnings Per Share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. Dilutive
earning per shares is computed and disclosed using the weighted average
number of equity and dilutive equity equivalent shares outstanding
during the year, except when the result would be anti-dilutive.
Mar 31, 2014
1.1 General
These Financial Statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on accrual basis and comply in all material aspects
with the accounting standards notified under Section 211 (3C),
Companies(Accounting Standards) Rules, 2006, the provisions of the
Companies Act, 1956 and guidelines issued by the Securities and
Exchange Board of India (SEBI).
1.2 Use of Estimate
The preparation of the Financial Statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognised in the periods in which
the results are known / materialise.
1.3 Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized when the company has a present obligation as
a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to its
present value and are determined based on best estimate to settle the
obligation at the Balance Sheet date. These are reviewed at each
Balance Sheet date and adjusted to affect the current best estimates.
Contingent liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
Financial Statements.
1.4 Fixed Assets Tangible Fixed Assets
Tangible Fixed Assets are stated at cost of acquisition as reduced by
accumulated depreciation and impairment losses, if any. Acquisition
cost comprises of the purchase price and attributable cost incurred for
bringing the asset to its working condition for its intended use.
Intangible Fixed Assets
Intangible Fixed Assets are carried at cost less accumulated
amortisation and impairment losses, if any. The Cost of intangible
assets comprises of cost of purchase, production cost and any
attributable expenditure on making the asset ready for its intended
use.
Capital Work in Progress :
Capital work in progress are assets that are not yet ready for their
intended use which comprises cost of purchase and related attributable
expenditures.
1.5 Depreciation/Amortisation Tangible Fixed Assets
Depreciation on tangible fixed assets has been provided on straight
line method on pro-rata basis at the rates and in the manner specified
in Schedule XIV of the Companies Act, 1956.
Improvement to Lease Assets is amortised over a balance period of lease
on straight line basis.
Intangible Fixed Assets
Intangible fixed assets are amortised over a period of 10 years on Pro
Rata Basis.
1.6 Inventories
Cassettes and tapes are charged of fully in the year of purchase.
Inventories are valued at lower of cost or net realisable value. The
cost of each episode of program is determined on the basis of average
cost.
Where carrying amount of inventories does not exceeds recoverable
amount in the ordinary course of business or where management does not
anticipate any furture economic benefit flowing from it appropriate
loss has been provided.
1.7 Revenue Recognition
Revenue from sale of program/content rights is recognised when the
relevant program/content is delivered.
In respect of Interest Income, it is recognized on a time proportion
basis taking into account the amount outstanding and the rate
applicable.
1.8 Foreign Currency Transactions Initial Recognition
Foreign Currency transactions are recorded in the reporting currency
i.e. rupee value, by applying the exchange rate, between the reporting
currency and the foreign currency, to the foreign currency amount at
the date of the transaction.
Conversion
Foreign Currency monetary items are reported using the closing rate.
Non-monetary items which are carried in terms of historical cost
denominated in a foreign currency are reported using the exchange rate
at the date of the transaction.
Exchange Differences
Exchange differences arising on the settlement of monetary items or
conversion of monetary items at balance sheet date are recognised as
income or expenses.
1.9 Investments
Investments that are intended to be held for more than a year are
classified as Non-current investments. The Non-current Investments are
carried at cost of acquisition. Provision for diminution in value is
made if the decline in the value is other than temporary in the opinion
of the management. Current Investments are stated at cost or realisable
value whichever is lower.
1.10 Employee Benefits
Defined Contribution Plan
Payments to defined contribution plan are charged to Profit & Loss
Account when contributions to respective funds are due.
Defined Benefit Plan
Employee benefits for Defined benefit schemes, such as leave encashment
and gratuity, are provided on the basis of actuary valuation taken at
the end of each year.
Other short -term employee benefits are charged to Profit & Loss
Account on accrual basis.
1.11 Borrowing Cost
Borrowing costs directly attributable to development of qualifying
asset are capitalized till the date qualifying asset is ready for put
to use for its intended purpose. Other Borrowing costs are recognized
as expense and charged to Profit & Loss Account.
1.12 Leases
Operating Lease expenses are charged to Profit and Loss Account on
accrual basis.
1.13 Taxes on Income
Current Tax provision is made based on the tax liability computed after
considering tax allowances and exemptions at the Balance Sheet date as
per Income Tax Act, 1961.
Deferred Tax reflects the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based
on the tax rates and the tax laws enacted or substantively enacted at
the Balance Sheet date.
Deferred Tax Asset is recognized only to the extent that there is
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
Deferred Tax Assets are recognized on carry forward of unabsorbed
depreciation and tax losses only if there is virtual certainty that
such deferred tax assets can be realized against future taxable
profits.
The carrying amount of Deferred Tax Assets are reviewed at each Balance
Sheet date and written down or written up, to reflect the amount that
is reasonably or virtually certain, as the case may be, to be realized.
1.14 Earning Per Share
Basic Earnings Per Share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. Dilutive
Earning Per Shares is computed and disclosed using the weighted average
number of equity and dilutive equity equivalent shares outstanding
during the year, except when the result would be anti-dilutive.
Mar 31, 2012
1.1 General
These financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on accrual basis and comply in all material aspects
with the accounting standards notified under Section 211 (3C),
Companies(Accounting Standards) Rules, 2006, the provisions of the
Companies Act, 1956 and guidelines issued by the Securities and
Exchange Board of India (SEBI).
1.2 Use of Estimate
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management Believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences Between the
actual results and the estimates are recognized in the periods in which
the results are known / materialize.
1.3 Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized when the company has a present origination as
a result of past event; it is probable that an outflow of resources
will be required to settle the origination, in respect of which a
reliable estimate can be made. Provisions are not discounted to its
present value and are determined based on Pest estimate to settle the
origination at the Balance sheet date. These are reviewed at each
Balance sheet date and adjusted to affect the current Pest estimates.
Contingent liabilities are not recognized Put are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
1.4 Fixed Assets Tangible Fixed Assets
Tangible Fixed Assets are stated at cost of acquisition as reduced by
accumulated depreciation and impairment losses, if any. Acquisition
cost comprises of the purchase price and attributable cost incurred for
Pronging the asset to its working condition for its intended use.
Intangible Fixed Assets
Intangible Fixed Assets are carried at cost less accumulated
amortization and impairment losses, if any. The Cost of intangible
assets comprises of cost of purchase, production cost and any
attributable expenditure on making the asset ready for its intended
use.
Capital Work in Progress:
Capital work in progress are assets that are not yet ready for their
intended use which comprises cost of purchase and related attributable
expenditures.
1.5 Depreciation/Amortisation Tangible Fixed Assets
Depreciation on tangible fixed assets has Been provided on straight
line method on pro-rata basis at the rates and in the manner specified
in Schedule XIV of the Companies Act, 1956.
Improvement to Lease Assets is amortized over a Balance period of lease
on straight line basis.
Intangible Fixed Assets
Intangible fixed assets are amortized over a period of 10 years on Pro
Rata Basis.
1.6 Inventories
Cassettes and tapes are charged of fully in the year of purchase.
Inventories are valued at lower of cost or net realizable value. The
cost of each episode of program is determined on the basis of average
cost.
Where carrying amount of inventories does not exceeds recoverable
amount in the ordinary course of business or where management does not
anticipate any future economic benefit flowing from it appropriate
loss has been provided.
1.7 Revenue Recognition
Revenue from sale of program/content rights is recognized when the
relevant program/content is delivered. In respect of Interest Income,
it is recognized on a time proportion basis taking into account the
amount outstanding and the rate applicable.
1.8 Foreign Currency Transactions Initial Recognition
Foreign currency transactions are recorded in the reporting currency
i.e. rupee value, by applying the exchange rate, between the reporting
currency and the foreign currency, to the foreign currency amount at
the date of the transaction.
Conversion
Foreign currency monetary items are reported using the closing rate.
Non-monetary items which are carried in terms of historical cost
denominated in a foreign currency are reported using the exchange rate
at the date of the transaction.
Exchange Differences
Exchange differences arising on the settlement of monetary items or
conversion of monetary items at balance sheet date are recognised as
income or expenses.
1.9 Investments
Investments that are intended to be held for more than a year are
classified as Non-current investments. The Non- current Investments are
carried at cost of acquisition. Provision for diminution in value is
made if the decline in the value is other than temporary in the opinion
of the management. Current Investments are stated at cost or realizable
value whichever is lower.
1.10 Employee Benefits Defined Contribution Plan
Payments to defined contribution plan are charged to Statement of
Profit & Loss when contributions to respective funds are due.
Defined Benefit Plan
Employee benefits for Defined benefit schemes, such as leave encashment
and gratuity, are provided on the basis of actuary valuation taken at
the end of each year.
Other short-term employee benefits are charged to Statement of Profit &
Loss on accrual basis.
1.11 Borrowing Cost
Borrowing costs directly attributable to development of qualifying
asset are capitalized till the date qualifying asset is ready for put
to use for its intended purpose. Other Borrowing costs are recognized
as expense and charged to profit & loss account.
1.12 Leases
Operating Lease expenses are charged to Statement of Profit & Loss on
accrual basis.
1.13 Taxes on Income
Current Tax provision is made based on the tax liability computed after
considering tax allowances and exemptions at the Balance sheet a at as
per Income Tax Act, 1961.
Deferred tax reflects the impact of current year timing differences
Between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based
on the tax rates and the tax laws enacted or substantively enacted at
the Balance sheet date.
Deferred tax asset is recognized only to the extent that there is
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
Deferred tax assets are recognized on carry forward of unabsorbed
depreciation and tax losses only if there is virtual certainty that
such deferred tax assets can be realized against future taxable
profits.
The carrying amount of Deferred Tax Assets are reviewed at each Balance
sheet date and written own or written up, to reflect the amount that
is reasonably or virtually certain, as the case may be, to be realized.
1.14 Earning Per Share
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. Dilutive
earning per shares is computed and disclosed using the weighted average
number of equity and dilutive equity equivalent shares outstanding
during the year, except when the result would be anti-Dilutive.
Mar 31, 2010
A) Basis for preparation of Financial Statements:
The financial statements have been prepared under the historical cost
convention ignoring changes, if any, in the purchasing power of money
ana on accounting principles of going concern. All income ana
expenOiture having a material bearing on the financial statements are
recognized on accrual basis.
The preparation of financial statements in conformity with Accounting
StanOaras reauires management to make estimates ana assumptions that
affect the reported amounts of assets ana liabilities at the date of
the financial statements ana the reported amounts of revenues ana
expenses during the reporting period.
b) Fixed Assets:
. Fixed Assets are stated at cost of acauisition as reduced by
accumulated depreciation ana impairment
losses, if any. Cost comprises the purchase price ana attributable cost
for bringing the asset to its working condition for its intended use.
c) Depreciation:
. Depreciation on Tangible Fixed Assets has been proviOed on Straight
Line Method on Pro Rata basis at the rates ana in the manner specified
in Schedule XIV of the Companies Act, 1956.
. Intangible Assets comprising of Business & Commercial Rights are
amortized over a period of 10 years on Pro Rata basis.
. Improvement to leased assets are amortised over the period of Lease
d) Inventories:
. Cassettes ana Tapes are charged off fully in the year of purchase.
. Inventories are valued at lower of cost or net realizable value. The
cost of each episode of a program is aetermined on the basis of average
cost.
. where the carrying amount of inventory exceeds recoverable amount in
the ordinary course of business or where the management does not
anticipate any future economic benefits flowing from it, appropriate
expense / loss has been provided for.
e) Revenue Recognition:
The principles of revenue recognition are as under:
. In respect of sale of program contents / rights, income is recognized
when the relevant program is aelivered to ana accepted by the buyers
ana all the significant risks ana rewards of telecasting rights /
license of the program has been transferred to the buyer.
. In respect of Interest Income, it is recognized on a time proportion
basis taking into account the amount outstanaing ana the rate
applicable.
. Income from letting of office space is recognized on time proportion
basis ana in accordance with terms of the agreements.
f) Investments:
.Investments that are not readily realisable or intended to be held for
more than a year are classified as Long-term investments.
The Long Term Investments are carried at cost of acauisition.
Provision for diminution in value is made if the decline in the
value is other than temporary in the opinion of the management.
. Investment in shares of a company, the holding of which is directly
related to the right to hold the
investment property ana the legal title to it, is classified as Land &
Building ana carried at its Investment value ana other ancillary cost
attriPutable to it.
g) Foreign Currency Transaction:
. Initial Recognition
Foreign currency transactions are recorded in the reporting currency
i.e. rupee value, by applying to the foreign currency amount the
exchange rate between the reporting currency ana the foreign currency
at the date of the transaction.
. Conversion
Foreign currency monetary items are reported using the closing rate.
Non-monetary items which are carried in terms of historical cost
denominated in a foreign currency are reported using the exchange rate
at the date of the transaction.
. Exchange Differences:
Exchange Oifferences arising on the settlement of monetary items or on
reporting companys monetary items at rates different from those at
which they were initially recorded during the year, or reported in the
previous financial statement, are recognised as income or expenses in
the year in which they arise.
h) Employee Benefits:
. Employee benefit in the form of provident fund is charged to profit &
loss account when contributions to
respective funds are due. Liability in respect of Leave Encashment &
Gratuity is provided on the basis of actuary valuation taken at the end
of each year.
. Othershortterm employee benefits are charged to profit & loss
account on accrual basis.
i) Borrowing Cost:
Borrowing costs directly attributable to development of aualifying
asset are capitalized till the date aualifying asset is ready for put
to use for its intended purpose as part of cost of that asset. Other
Borrowing costs are recognized as expense ana debited to P&L a/c.
j) Taxes on Income:
Tax expense comprises both current ana deferred taxes. Current Tax
provision as per Income Tax Act, 1961, is made based on the tax
liability computed after considering tax allowances ana exemptions at
the balance sheet date.
Deferred income taxes reflect the impact of current year timing
differences between taxable income ana accounting income for the year
ana reversal of timing differences of earlier years. Deferred tax is
measured based on the tax rates ana the tax laws enacted or
substantively enacted at the balance sheet date.
Deferred tax asset is recognized only to the extent that there is
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
Deferred tax assets are recognized on carry forward of unabsorbed
depreciation ana tax losses only if there is virtual certaintythat such
deferred tax assets can be realized against future taxable profits.
The carrying amount of Deferred Tax Assets are reviewed at each balance
sheet date ana written down or written up, to reflect the amount that
is reasonably / virtually certain, as the case may be, to be realized.
k) Earning Per Share
Basic earning per share is calculated by diviaing the net profit or
loss for the period attributable to eauity shareholders by the weighted
average number of eaurry shares outstanding during the period.
l) Provisions
A provision is recognized when the company has a present obligation as
a result of past event; it is probable that an outflow of resources
will be reauired to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to its
present value ana are determined based on best estimate reauired to
settle the obligation at the balance sheet date. These are reviewed at
each balance sheet aate ana adjusted to reflect the current best
estimates.