Corporate Information
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CORPORATE INFORMATION BOARD OF DIRECTORS Mr. Kalanithi Maran Executive Chairman Mr. K. Vijaykumar Managing Director & Chief Executive Officer Mr. S. Selvam Director Mrs. Kavery Kalanithi Executive Director Mr. J. Ravindran Independent Director Mr. M.K. Harinarayanan Independent Director Mr. Nicholas Martin Paul Independent Director Mr. R. Ravivenkatesh Independent Director COMPANY SECRETARY & Mr. R. Ravi COMPLIANCE OFFICER BANKERS City Union Bank Limited, Mandaveli, Chennai - 28 Royal Bank of Scotland, N.V., Chennai - 31 Kotak Mahindra Bank Limited, Annasalai, Teynampet, Chennai - 18 Standard Chartered Bank, Haddows Road, Chennai - 6 The Karur Vysya Bank Limited, Anna Salai, Teynampet, Chennai - 18 ICICI Bank Limited, Cenotaph Road, Teynampet, Chennai - 18 HDFC Bank Limited, ITC Centre, Chennai - 2 Axis Bank Limited, Mylapore, Chennai - 4 Corporation Bank, Mylapore, Chennai - 4 Indian Bank, Kodambakkam, Chennai - 24 AUDITORS M/s S.R. Batliboi & Associates Chartered Accountants, 6th & 7th Floor - 'A' Block (Module 601,701,702) Tidel Park, No. 4, Rajiv Gandhi Salai, Taramani, Chennai - 113 REGISTERED OFFICE Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 28 REGISTRAR AND SHARE TRANSFER AGENT M/s Karvy Computershare Private Limited, Plot Nos.17 to 24, Vittal Rao Nagar, Madhapur, Hyderabad - 500 081 01 Annual Report 2011-2012 Sun TV Network Limited AUDIT COMMITTEE Mr. J. Ravindran Chairman Mr. M.K. Harinarayanan Mr. Nicholas Martin Paul Mr. R. Ravivenkatesh REMUNERATION COMMITTEE Mr. J. Ravindran Chairman Mr. M.K. Harinarayanan Mr. Nicholas Martin Paul Mr. R. Ravivenkatesh INVESTOR / SHAREHOLDER'S GRIEVANCE COMMITTEE Mr. M.K. Harinarayanan Chairman Mr. J. Ravindran Mr. Nicholas Martin Paul Mr. R. Ravivenkatesh SHARE TRANSFER AND TRANSMISSION COMMITTEE Mr. Kalanithi Maran Chairman Mrs. Kavery Kalanithi MANAGEMENT Mr. Kalanithi Maran Executive Chairman Mr. K. Vijaykumar Managing Director & Chief Executive Officer Mrs. Kavery Kalanithi Executive Director Mr. V. C. Unnikrishnan Chief Financial Officer Mr. C. Praveen Chief Operating Officer Mr. S. Kannan Chief Technical Officer Mr. R. Ravi Company Secretary and Compliance Officer Contents Page Nos. Financial Performance for Last 5 years 3 Notice 4 - 7 Directors Report 8 - 12 Management Discussion and Analysis Report 13 - 18 Corporate Governance Report 19 - 31 Auditors’ Report on Standalone Financial Statements 32 - 37 Standalone Financial Statements 38 - 74 Statement Pursuant to Section 212 75 Auditors’ Report on Consolidated Financial Statements 76 - 77 Consolidated Financial Statements 78 - 120 Attendance Slip and Proxy Form 121 02 Annual Report 2011-2012 FINANCIAL PERFORMANCE FOR LAST 5 YEARS (All amounts are in Millions of Indian Rupees, unless otherwise stated) Particulars 2011-12 2010-11 2009-10 2008-09 2007-08 Total Income 18,315.7 19,705.0 14,375.2 10,915.2 9,259.9 Total Expenditure (Excluding Interest & Financial Charges) 7,997.0 8,132.0 5,699.0 4,215.3 3,522.1 Profit before interest and tax 10,318.7 11,573.0 8,676.2 6,699.9 5,737.8 Interest & Financial Charges 55.5 19.8 12.0 38.9 55.6 Profit Before Taxation 10,263.2 11,553.2 8,664.2 6,661.0 5,682.2 Provision for Taxation 3,316.7 3,831.0 2,990.4 2,289.9 2,012.4 Profit after tax 6,946.5 7,722.2 5,673.8 4,371.1 3,669.8 Earnings Per Share (Face value Rs. 5 /-) 17.63 19.60 14.40 11.09 9.31 This space has been intentionally left blank 03 Annual Report 2011-2012 Sun TV Network Limited NOTICE NOTICE is hereby given that the Twenty Seventh Annual General Meeting of the Shareholders of Sun TV Network Limited will be held at Kalaignar Arangam, Anna Arivalayam, 367 / 369, Anna Salai, Teynampet, Chennai - 600 018 on Friday, the 28th day of September 2012 at 10.00 AM to transact the following business: ORDINARY BUSINESS 1. To receive, consider and adopt the Audited Balance Sheet as at 31st March 2012 and the Statement of Profit & Loss for the financial year ended on that date together with the Reports of Directors and Auditors thereon. 2. To declare dividend on equity shares. 3. To appoint a Director in the place of Mr. S. Selvam, who retires by rotation and being eligible, offers himself for re-appointment. 4. To appoint a Director in the place of Mr. M.K. Harinarayanan, who retires by rotation and being eligible, offers himself for re-appointment. 5. To appoint Auditors and to fix their remuneration and in this regard to consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT M/s. S. R. Batliboi & Associates, Chartered Accountants, (FRN: 101049W) Chennai be and are hereby appointed as Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting on a remuneration, and out of pocket expenses, if any, to be fixed by the Board of Directors, on the recommendation of the Audit Committee of the Board. SPECIAL BUSINESS 6. To Consider and, if thought fit, to pass with or without modification(s), the following Resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 257 and all other applicable provisions if any of the Companies Act, 1956 (including any statutory modification(s) or re-enactment thereof) Mr. K. Vijaykumar, who was appointed as an Additional Director of the Company pursuant to the provisions of Section 260 of the Companies Act, 1956 be and is hereby appointed as a Director of the Company.” 7. To Consider and, if thought fit, to pass with or without modification(s), the following Resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 257 and all other applicable provisions if any of the Companies Act, 1956 (including any statutory modification(s) or re-enactment thereof) Mr. R. Ravivenkatesh, who was appointed as an Additional Director of the Company pursuant to the provisions of Section 260 of the Companies Act, 1956 be and is hereby appointed as a Director of the Company liable to retire by rotation, in terms of the provisions of the Articles of Association of the Company.” Regd. Office: BY ORDER OF THE BOARD Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 28. R. RAVI COMPANY SECRETARY May 25, 2012 04 Annual Report 2011-2012 NOTICE NOTES: 1. A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote instead of himself and the proxy need not be a member of the Company. For appointment of a proxy to be effective, the proxy form (enclosed) shall be duly filled, stamped, executed and lodged with the Registered Office of the Company at least 48 hours before the time fixed for the commencement of the meeting. 2. The Register of Members and the Share Transfer Books of the Company will remain closed from 15th September 2012 to 28th September 2012 (both days inclusive) in terms of Section 154 of the Companies Act, 1956. 3. The Dividend as recommended by the Board of Directors and to be approved by the Shareholders at the Annual General Meeting to be held on Friday, the 28th September 2012 shall be paid to those members whose names appear on the Register of Members as on the close of 14th September 2012. 4. Members are requested to quote their DP ID & Client ID/ Folio Numbers in all correspondence with the Company. 5. Members and/or their proxies should bring the Attendance Slips duly filled in for attending the meeting. 6. The Explanatory statement pursuant to Section 173 of the Companies Act, 1956 is annexed hereto. ANNEXURE TO THE NOTICE EXPLANATORY STATEMENT UNDER SECTION 173 OF THE COMPANIES ACT, 1956 ITEM NO. 6 The Board of Directors of the Company had appointed Mr. K. Vijaykumar as an Additional Director with effect from 20th April 2012. As per the provisions of Section 260 of the Companies Act, 1956, Mr. K. Vijaykumar holds office only upto the date of ensuing Annual General Meeting. A notice under Section 257 of the Companies Act, 1956 has been received from a Member of the Company along with the deposit amount, proposing the appointment of Mr. K. Vijaykumar for the office of the Director. The Board of Directors accordingly recommends the Ordinary Resolution set out at item no.6 of the accompanying Notice for approval of the Members. A brief profile of Mr. K. Vijaykumar including his nature of expertise as required under Clause 49 of the Listing Agreement is given in the annexure to the Notice. None of the Directors are interested or concerned in the resolution except Mr. K. Vijaykumar to the extent of his shareholding. ITEM NO. 7 The Board of Directors of the Company had appointed Mr. R. Ravivenkatesh as an Additional Director with effect from 20th April 2012. As per the provisions of Section 260 of the Companies Act, 1956, Mr. R. Ravivenkatesh holds office only upto the date of ensuing Annual General Meeting. A notice under Section 257 of the Companies Act, 1956 has been received from a Member of the Company along with the requisite amount, proposing the appointment of Mr. R. Ravivenkatesh for the office of the Director liable to retire by rotation. 05 Annual Report 2011-2012 Sun TV Network Limited NOTICE The Board of Directors accordingly recommends the Ordinary Resolution set out at item no.7 of the accompanying Notice for approval of the Members. A brief profile of Mr. R. Ravivenkatesh including his nature of expertise as required under clause 49 of the Listing Agreement is given in the annexure to the Notice.