DOCSLIB.ORG

ANNUAL REPORT ANALYSIS Zee Entertainment Enterprises

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ANNUAL REPORT ANALYSIS Zee Entertainment Enterprises India Equity Research December 22, 2020 ANNUAL REPORT ANALYSIS Zee Entertainment Enterprises MARKET DATA Zee Entertainment Enterprises’ (Zee) FY20 Annual Report comes 52-week range (INR) NIL with an auditor’s qualified opinion w.r.t. Letter of Comfort (LOC) on Share in issue (mn) 960.5 Put Option Agreement between ATL Media (subsidiary) and Living Market cap (INR bn/USD mn) 217/2,951 Avg. Daily Vo. BSE/NSE (‘000) 26,323 Entertainment (related party) (pg 4). Profitability was hit by several provisions/write-downs such as fair valuation loss on offshore investments, goodwill impairment (online media), accelerated Shareholding Pattern (%) amortisation (inventory) and doubtful debts provisions. Promoters * 4.0 MFs, FIs & Banks 11.3 Other points: (i) Another key audit matter-Though recovered later, FIIs 66.2 during FY20, banks had prematurely adjusted INR2bn of Zee’s FD Others 18.5 against repayments due from related parties. (ii) ICD of INR1.7bn *Promoters pledged shares 0.24 (% of share in issue) written off. (iii) In standalone, Zee devalued investments in Essel Vision Production (EVP) up to 74% (INR4.4bn). (iv) OCF (post interest) at INR1.3bn versus INR(79)mn in FY19. Auditors Deloitte Haskins & Sells LLP Auditor’s qualified opinion w.r.t. Letter of Comfort The auditor has issued a qualified opinion with regard to non-recognising contingent liability against LOC given by Zee to banks and liability against Put Option Agreement of INR8bn in FY16 (renewed to INR4bn during FY20) entered between ATL Media (Zee’s 100% subsidiary) and LEL (promoter-owned company), which got rescinded post FY20, quoting misrepresentation by LEL (refer to page 4 for details). Explore: The auditor stated that, “this could potentially result in adjustment in the books of account or disclosure in the consolidated financial statements.” Post FY20, credit rating further deteriorated to “AA-“ (from AA) primarily due to uncertainties of above matters along with ongoing inspection by MCA. Financial model Podcast Related party transaction lower; other FD-related key audit matter Subscription income (related party) plunged 69% YoY primarily due to Dish TV being classified as non-related party from FY20 (FY19:INR4.8bn). Trade receivables and loans/ advances cumulatively declined sharply and stood at INR1.6bn led by high Corporate access Video allowance booked at year-end. Certain related parties (promoter companies) defaulted against which the bank pre-matured Zee’s fixed deposit of ~INR2bn. From these related parties the company later received this full amount during the year, along with interest. The auditor has mentioned this as a key audit matter. Investments devalued; 45% online media’s goodwill impaired Zee booked INR3.8bn (64% of total investment) fair value loss on Poseidon Opportunities & Actinium Investments, and was expected to receive the balance Analysis Beyond Consensus (ABC) is our post Q2FY21. Further, ICDs of INR1.7bn earlier assigned to certain related parties initiative to provide a differentiated were written-off during FY20 due to non-recoverability. In standalone, investments perspective to our clients on various non- routine and intricate issues. This unit of (OCD) in Essel Vision Production (EVP) were devalued by 74% and a loss of INR4.4bn research works independent of the was booked. EVP, on the other hand, booked gain of 25% (INR1.5bn) only on its sector/ stock research team and views borrowings (OCD). Goodwill pertaining to online media business impairment expressed in this report may vary with continued this year, also under exceptional item, for INR1.1bn (FY19-INR218mn). that of respective sector/ stock analyst. As a % of total allocated goodwill, 45% was impaired during FY20 versus 8% in FY19. Alok Deshpande Bhavin Rupani Rahul Ahuja +91 (22) 6620 3163 +91 (22) 4063 5544 +91 (22) 6620 3006 [email protected] [email protected] m [email protected] Edelweiss Research is also available on www.edelresearch.com, Bloomberg EDEL <GO>, Thomson FirstCall, Reuters and Factset Edelweiss Securities Limited ANNUAL REPORT ANALYSIS Tax cut supported OCF; cash profit to OCF conversion remains weak OCF doubled YoY to INR2.5bn primarily led by a sharp INR6bn decline in cash tax paid due to lower corporate tax in FY20. Adjusted for finance cost and dividend on preference share, OCF stood at INR1.3bn versus INR(79)mn in FY19. While ATL Media’s OCF deteriorated to INR(2.7)bn from INR(830)mn in FY19 primarily led by adverse working capital movement of INR1.6bn YoY, Essel Vision’s FCF improved from INR(1.3)bn to INR(49)mn due to favourable working capital swing of INR0.9bn YoY. EBITDA to OCF (pre-tax) conversion ratio remain flat YoY at 41%; cumulatively, for past five years, it stood at 59%. Working capital up 41% YoY on high inventory and unbilled revenue Working capital jumped 41% YoY and as % to sales it rose to 73% from 53% in FY19. Despite accelerated amortisation, inventory during the year catapulted 39% YoY due to movie rights received against advances given in FY19. Unbilled revenue jumped 3x YoY to INR2.6bn. Cash conversion cycle rose by 75 days to 380, mainly due to rise in inventory days by 54 days to 438 days. Capital allocation and ROCE: ROCE halved to 13.8% During FY16-20, Zee generated major funds from operation (71%) and deployed them majorly towards working capital requirements (48%), followed by dividend distributed (21%), redemption of preference share (13%) and capex (12%). Asia Today and Asia TV USA dragged 30% of standalone EBIT in FY20 predominantly due to one-off provisions and loss on fair value. Consolidated ROCE plunged to 13.8% (FY19: 27%) on lower profitability margin. One-offs hit profitability Despite 2.5% YoY revenue growth, reported EBITDA margin plunged to 20% (FY19- 32%) due to higher provision for doubtful debts and one-off accelerated amortisation. Further, profitability worsened due to loss on fair valuation of offshore investment (INR3.8bn) along with exceptional loss due to ICDs written-off (INR1.7bn) and goodwill impairment (INR1.1bn) of the online media business. Fair valuation gain spurred EVP’s performance Asia Today (holding company of Asia TV (UK) took impairment of INR1.0bn (USD13.7mn) and ATL Media (holding company to Taj TV) took impairment of INR165mn (USD2.2mn) during FY20. The auditor of Z5X Global has raised significant doubts on the company’s ability to continue as a going concern. Essel Vision Production: Despite revenue dipping 10% YoY, PAT jumped from INR79mn in FY19 to INR1.6bn in FY20 led by fair valuation gain of INR1.5bn on 0% OCD issued to parent company. Other Networth accretion: During FY16-20, networth moved from INR55.5bn to INR93.4bn mainly led by profits from operation (136%), which adjusted for reclassification of redeemable preference share as debt (-36%). Trade receivables: Allowance for doubtful debts jumped almost 3x during FY20 on account of one-off provisioning of INR3.4bn at year-end. Despite unbilled revenue also jumping 3x, receivables as % to sale rose to 31% from 25% in FY19. Inventory: Inventory amortised rose 37% YoY to INR31bn due to accelerated charge due to covid-19 and slow-down in economic activity. Other expenses: Total other expenses surged 20% YoY to INR18.9bn led by huge allowances for doubtful debtors and advances; as % to sales it rose to 7% in FY20 from 1.1% FY19. 2 Edelweiss Research is also available on www.edelresearch.com, Bloomberg EDEL <GO>, Thomson FirstCall, Reuters and Factset Edelweiss Securities Limited ANNUAL REPORT ANALYSIS Table of contents Auditor’s qualification………………………………………………………………………….…………4 Related party transaction analysis……………………………………………………………….….6 Investments analysis, Intangibles & goodwill, exceptional item………………………8 Cash flow analysis………………………………………………………………………………………...10 Working capital analysis, trade receivables/ inventory analysis…………………....12 Capital allocation……………………………………………………………………………………..……14 Profitability………………………………………………………………………………………………..….17 Governance…………………………………………………………………………………………..………20 Group structure……………………………………………………………………………………….……22 Edelweiss Research is also available on www.edelresearch.com, Bloomberg EDEL <GO>, Thomson FirstCall, Reuters and Factset Edelweiss Securities Limited 3 ANNUAL REPORT ANALYSIS Auditor’s Qualified Opinion What was the matter? Zee Yes/ Axis Bank 3. In order to secure a borrowing, 2. May'16:Zee issued a Letter of Comfort (LOC) to the Banks 100% LEL assigned all its right, title, subsi. confirming its intention, among other matters, to support ATL benefit and interest under the said by infusing equity/debt for meeting all its working capital Put Option Agreement in favour of requirements, debt requirements, business expansion plans, Banks. honouring the put option, take or pay agreements and 5. LEL extended the renewed guarantees. assignment of the Put Option. ATL Media LEL, Mauritius (Related Party) 1. Mar'16: ATL entered into a Put Option Agreement with LEL to acquire 64% of VIL held by LEL for USD105mn (INR8bn), whose expiry date was Jul'19. 4. Jul'19: Agreement renewed on and extended till Dec'26 based VIL, Bermunda (Related Party) on certain representations made by LEL and the exercise price was set at USD52.5mn (INR4bn) for the same number of shares. LEL defaulted; suit filed by bank against LOC On default by LEL on repayment of loan, the bank enforced the Put Option pursuant Since the matter is sub-judice and based to the assignment and demanded ATL to pay the exercise price. Zee is of the view on legal advice obtained by the that the LOC provides neither any guarantee, commitment nor assurance to company, the LOC has not been pay/repay any obligation of LEL. considered as a guarantee by management and it does not create any In June 2020, the bank filed primary a suit and a plaint seeking ad-interim relief in transaction that requires recognition of a the Hon'ble High Court of Bombay (court) on the ground that the company’s LOC is liability in the books of account of the a guarantee.
Load more

Recommended publications
  • ZEEMEDIA [email protected]
    ZEEMEDIA [email protected] Collaborative Strategies C o h e s i v e G r o w t h ZEEMEDIA ZEE MEDIA CORPORATION LIMITED REGISTERED OFFICE 14th Floor, A Wing, Marathon Futurex, NM Joshi Marg, Lower Parel, Mumbai - 400013 Maharashtra Tel.: +91 22 7106 1234 Fax: +91 22 2300 2107 Website: www.zeenews.india.com Annual Report 2017-18 OUR ZEEMEDIA PRESENCE INSIDE THIS REPORT Corporate Overview Collaborative Strategies Cohesive Growth 01 Growing Together with Viewer Engagement 02 Growing Together with Advertisers' Reach 03 Growing Together with Society and Government 04 Growing Together with Our Employees - Our Trusted Aides 05 Srinagar Steadfast Progress, Nurturing New Ventures 06 Jammu Raising the Bar with Innovations 08 Message to Shareholders 10 Growth Firmly Embedded in Value System 12 Chandigarh Dehradun Our Channels and Digital Platforms 13 Corporate Information 16 Noida STATUTORY REPORTS Lucknow Varanasi Notice 17 Jaipur Ajmer Directors' Report 26 Patna Corporate Governance Report 43 Kota Management Discussion and Analysis 56 Ranchi Kolkata Ahmedabad Bhopal Indore Vadodara FINANCIAL STATEMENTS Rajkot Raipur Surat Standalone Financial Statements 67 Nagpur Consolidated Financial Statements 121 Bhubaneswar Nasik Aurangabad Thane Mumbai BSE, Mumbai Pune Kohlapur Hyderabad FORWARD LOOKING STATEMENTS Bengaluru Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We have tried wherever possible to identify such statements by using words such as 'anticipate', 'estimate', 'expect', 'project', 'intend', 'plan', 'believe' and words of similar substance in connection with any discussion of future performance.
    [Show full text]
  • Press Release Zee Entertainment Enterprises Limited
    Press Release Zee Entertainment Enterprises Limited February 08, 2019 Ratings Amount Facilities Rating1 Rating Action (Rs. crore) CARE AA+; Credit Watch with Revised from CARE AA+; Long-term Bank negative implications 125.00 Credit watch with Facilities [Double A Plus; Credit watch with developing implications negative implications] CARE A1+; Credit Watch with Revised from CARE A1+; Short-term Bank negative implications 80.00 Credit watch with Facilities [A One Plus; Credit watch with developing implications negative implications] 205.00 Total Facilities (Rs. Two hundred and five crore only) Details of facilities in Annexure-1 Detailed Rationale& Key Rating Drivers The ratings assigned to the bank facilities of Zee Entertainment Enterprises Limited (ZEEL) have been placed on credit watch with negative implications on account of the reduced financial flexibility of Essel Group as an after effect of the recent decline in the market capitalization of the listed entities belonging to the Group. As on December 31, 2018, amongst the total promoter holding of 41.62% in ZEEL; 59.37% has been pledged. The promoters have conveyed their intentions to sell/divest up to 50% of their equity stake to a strategic partner, which is expected to improve the liquidity position of the group. However, in view of the recent developments, the ability of the group to sell its desired stake in ZEEL at the valuations envisaged forms a key rating sensitivity. Also, these recent developments have resulted in a reduction in the promoter’s stake in ZEEL from 41.62% (as on December 31, 2018) to 39.08%. As reported by the company to the stock exchanges, the lenders of the Group have provided a formal consent wherein no event of default is expected to be declared till September 30, 2019 on account of sharp decline in the prices of the pledged shares.
    [Show full text]
  • KPMG FICCI 2013, 2014 and 2015 – TV 16
    #shootingforthestars FICCI-KPMG Indian Media and Entertainment Industry Report 2015 kpmg.com/in ficci-frames.com We would like to thank all those who have contributed and shared their valuable domain insights in helping us put this report together. Images Courtesy: 9X Media Pvt.Ltd. Phoebus Media Accel Animation Studios Prime Focus Ltd. Adlabs Imagica Redchillies VFX Anibrain Reliance Mediaworks Ltd. Baweja Movies Shemaroo Bhasinsoft Shobiz Experential Communications Pvt.Ltd. Disney India Showcraft Productions DQ Limited Star India Pvt. Ltd. Eros International Plc. Teamwork-Arts Fox Star Studios Technicolour India Graphiti Multimedia Pvt.Ltd. Turner International India Ltd. Greengold Animation Pvt.Ltd UTV Motion Pictures KidZania Viacom 18 Media Pvt.Ltd. Madmax Wonderla Holidays Maya Digital Studios Yash Raj Films Multiscreen Media Pvt.Ltd. Zee Entertainmnet Enterprises Ltd. National Film Development Corporation of India with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. entity. (“KPMG International”), a Swiss with KPMG International Cooperative © 2015 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated and a member firm of the KPMG network of independent member firms Partnership KPMG, an Indian Registered © 2015 #shootingforthestars FICCI-KPMG Indian Media and Entertainment Industry Report 2015 with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. entity. (“KPMG International”), a Swiss with KPMG International Cooperative © 2015 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated and a member firm of the KPMG network of independent member firms Partnership KPMG, an Indian Registered © 2015 #shootingforthestars: FICCI-KPMG Indian Media and Entertainment Industry Report 2015 Foreword Making India the global entertainment superpower 2014 has been a turning point for the media and entertainment industry in India in many ways.
    [Show full text]
  • A New Vision Is Blooming
    A NEW VISION IS BLOOMING ZEE 4.0 - ANNUAL REPORT 2020-21 Zee Entertainment Enterprises Limited Transformation stems from the natural evolution of every living being. Inside each of us lies a distinctive desire to do something more than the norm, out of the ordinary. This nature of existence flows from people to businesses, leading them from old path to new, creating opportunities for themselves and for the rest of the world. Media and Entertainment landscape is not untouched by this phenomenon. From consumer FINANCIAL behaviour to consumer experiences, the industry has evolved in all shapes and forms over STATEMENTS the last few decades. Today, we are seeing a paradigm shift in the consumption and delivery 03 of entertainment. In this new realm, the alchemy of the consumer experience is one that blends content creation, delivery, and monetization in a seamless manner. This hyper- STANDALONE competitive, digitally accelerated environment demands a unique strategic vision. We at ZEE INDEX Independent Auditor’s Report 107 are preparing to step into this future with a sharper and synergised version, transforming into ZEE 4.0 - a future-ready organisation to gain competitive advantage. ZEE 4.0 is Balance Sheet 115 designed around enhanced customer centricity with levers for capitalizing on Statement of Profit and Loss 116 immense growth opportunities and driving higher profitability. COMPANY Statement of Cash Flow 117 OVERVIEW The 5G pillars - Governance, Granularity, Growth, Goodwill and Gusto, form 01 Statement of Changes in Equity 119 the cornerstone of ZEE 4.0, sharpening our abilities to capture the emerging Notes 121 opportunities across markets, to transform ZEE into South Asia’s leading Media & Key Performance Indicators 04 STATUTORY Entertainment Company.
    [Show full text]
  • Business Profile
    Zeal Z Entertainment Services Pvt. Ltd. - PROFILE Zeal Z Entertainment Services Pvt. Ltd. (ZZE) is a leading Film, Television & Entertainment (FTVE) solution outfit based in Bhopal covering Madhya Pradesh, Gujarat and other parts of Central India, in operation since July 2008. We Have line produced over 150+ Feature Films, TV shows, Commercials, Documentaries, etc. to date, Like PRAKASH JHA’s RAAJNEETI, AARAKSHAN, CHAKARVYUH, SATYAGRAHA, JAI GANGAAJAL, LIPSTICK UNDER MY BURKHA, ANIL SHARMA’s SINGH SAHAB THE GREAT, ASHUTOSH GOVARIKAR’s MOHANJO-DARO, NEERAJ PANDEY’s TOILET-Ek Prem Katha, RAJKUMAR HIRANI’s SANJU, DINESH VIJAN’s STREE, and most recently ZEE STUDIO’s MANIKARNIKA – THE QUEEN OF JHASI, KARAN JOHAR’S KALANK, FOX STAR STAR STUDIO’S PANGA AND ANURAG BASU’s LUDO. Film & Television Line Production Services is the heart and soul of Zeal Z Entertainment services Pvt. Ltd., we handle a range of production from multi-million projects to small single camera interviews. We know where the incentives are and how to manage them in various states giving the maximum value for any filmmaker. Our database of the locations allows us to instantly offer our clients choices that best suit their needs. We have the skill to put together the right crew for the job and our professionalism ensures that the film makers are able to complete their project within the budget, on time, hassle free. COMPANY EXECUTIVES ZULFIQAR ALI, Ace Ghazal Singer & Music Director Zulfiquar Ali is the Executive Director of Zeal Z Entertainment services Pvt. Ltd. He was trained under Ustad Zia fariduddin Dagar sahab and has been performing as a Ghazal Artist since 1973.
    [Show full text]
  • Zeel's Mission Goal
    ANNUAL REPORT 2016-17 A TO ZEE OF CONTENT LEADERSHIP CORPORATE OVERVIEW STATUTORY REPORTS 01 02 ZEEL At A Glance 02 46 Management Discussion And Analysis 04 Events And Milestones 66 Notice 06 Message From The Chairman 70 Directors’ Report 08 Key Performance Indicators 76 Annexures to Directors’ Report 10 Message From The MD & CEO 88 Secretarial Audit Report 12 All You Can See 90 Report on Corporate Governance 14 We Speak Your Language 104 Business Responsibility Report 16 We Are Where You Want To Be 109 Certification of Financial Statements 18 All The World Is A Stage 20 More. Much More Than TV. 22 Business Overview FINANCIAL STATEMENTS 30 Strategy For Sustainable Growth 03 STANDALONE 32 Q&A With Amit Goenka - CEO (International Business) 110 Independent Auditor’s Report 34 Q&A With Chief Finance and Strategy Officer 114 Balance Sheet 36 Board Of Directors 115 Statement of Profit and Loss 38 Leading With People 116 Statement of Changes in Equity 40 Leading With Thought. Growing Through Engagement 117 Statement of Cash Flow 42 Corporate Social Responsibility 119 Notes 43 Caring For The Environment 162 Last Five Years Financial Highlights 44 Corporate Information 163 Performance Ratios - An Analysis CONSOLIDATED 164 Independent Auditor’s Report 168 Balance Sheet 169 Statement of Profit and Loss 170 Statement of Changes in Equity 171 Statement of Cash Flow 173 Notes ATTENDANCE SLIP & ROUTE MAP FOR VENUE OF AGM PROXY FORM ON THE COVER Forward-looking statement In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our A TO ZEE OF CONTENT prospects and take investment decisions.
    [Show full text]
  • Forming Part of the Financial Statements
    | NOTES | LAST FIVE YEARS FINANCIAL HIGHLIGHTS | PERFORMANCE RATIOS - AN ANALYSIS | NOTES forming part of the Financial Statements 1 CORPORATE INFORMATION sale are capitalised as part of the cost of respective asset. All Zee Entertainment Enterprises Limited (“ZEEL” or “the Company”) other borrowing costs are expensed in the year they occur. is incorporated in the State of Maharashtra, India. The Company is mainly in the following businesses: 6 Impairment of tangible and intangible assets At each Balance Sheet date, the Company reviews the carrying (a) Broadcasting of Satellite Television Channels; amount of assets to determine whether there is an indication that (b) Space Selling agent for other satellite television channels; those assets have suffered impairment loss. If any such indication exists, the recoverable amount of assets is estimated in order to (c) Sale of Television Content i.e. programs / film rights / feeds; determine the extent of impairment loss. The recoverable amount (d) Production and distribution of films. is higher of the net selling price and value in use, determined by discounting the estimated future cash flows expected from the 2 SIGNIFICANT ACCOUNTING POLICIES continuing use of the asset to their present value. 1 Basis of preparation 7 Depreciation / Amortisation on tangible / intangible assets The financial statements are prepared under the historical cost (a) Depreciation on tangible fixed assets is provided on convention on going concern basis in accordance with Indian straight line method at the rates specified in Schedule Generally Accepted Accounting Principles (GAAP) and comply XIV to the Companies Act, 1956 except Aircraft on which in all material aspects with the Accounting Standards notified depreciation is provided based on estimated useful life of under the Companies (Accounting Standards) Rules, 2006, 15 years.
    [Show full text]
  • Rating Rationale Zee Entertainment Enterprises Limited 4 June 2109
    Rating Rationale Zee Entertainment Enterprises Limited 4 June 2109 Brickwork Ratings has placed the ratings of BWR AAA on “Credit Watch with Negative ​ Implications” from “Credit Watch with Developing Implications” of Zee ​ ​ Entertainment Enterprises Limited’s (ZEEL) 6% Cumulative Redeemable ​ Non-convertible (CRNPS) Preference Shares and Issuer rating. Particulars Previous Outstanding Current Previous Instruments Amount Amount Rating Rating (Rs. Cr) (Rs. Cr) ​ BWR AAA (Credit BWR AAA (Credit Watch 6% Cumulative Watch With Negative With Developing Redeemable Implications) Implications) Non-convertible 1615 (Pronounced BWR (Pronounced BWR Triple A Preference Shares 1210.16 Triple A Credit Watch Credit Watch With (CRNPS) With Negative Developing Implications) Implications) BWR AAA (Credit BWR AAA (Credit Watch Watch With Negative With Developing Implications) Implications) Issuer Rating NA (Pronounced BWR (Pronounced BWR Triple A NA Triple A Credit Watch Credit Watch With With Negative Developing Implications) Implications) *Please refer to BWR website www.brickworkratings.com/ for definition of the ratings ​ ​ BWR has essentially relied upon audited financials of ZEEL up to FY19, information available in the public domain and the information and clarifications provided by the management. Rating Rationale The revision factors delay in stake sale plans by the Promoters which was announced on 14th ​ November 2018 to a Strategic partner, which according to the Promoters was to pursue disruptive technological development and transform the business in to tech-media. Subsequently in January 2019 the promoter announced that proceeds from stake sale will be utilized for repayment of debt against pledge of promoter held shares at group level. On April 17 2019, the promoter had informed that they were hopeful of entering into Non-Binding Term Sheet by end of April/early May 2019 for monetization of stake in ZEEL.
    [Show full text]
  • NEW 2015 IMM Placement Broucher
    MET INSTITUTE OF MASS MEDIA PLACEMENT BROCHURE Advertising Multimedia Journalism Entertainment OUR FAITH Knowledge can neither be stolen by a thief, nor snatched by a king. It is indivisible unlike ancestral property, it never burdens the bearer, it multiplies manifold when offered to others. Knowledge is the supreme form of wealth. OUR VISION To shape professionals, to conquer the present and the future challenges to the socio economic fabric of our society, by institutionalising search, development, research and dissemination of relevant knowledge through structured learning systems. OUR MISSION To evolve, develop and deliver dynamic learning systems to equip professionals with conscience and commitment to excellence and courage to face business challenges. Introduction 01 The MET Edge 03 From the Chairman’s Desk 04 Sharp at Every Turn 05 MET Institute of Mass Media 07 Learning from professionals, not professors 08 Life at MET IMM 09 Media Voice 11 Key Celebrity Alumni 11 The Industry Speaks 11 The Media Boom and Media Convergence 12 Overview 13 The Sharpening Process 14 Placement Process 15 Syllabus 16 Student Profiles - Advertising 26 Student Profiles - Multimedia Journalism 41 Student Profiles - Entertainment 43 Our Esteemed Patrons 56 Recruitment Opportunity 57 Recruitment Form 58 CONTENTS INTRODUCTION Bhujbal Knowledge Centre, Mumbai Institute of Management Institute of Mass Media Asian Management Development Centre Centre for Insurance Training, Research & Development Institute of Pharmacy Institute of Medical Sciences Institute
    [Show full text]
  • ANNUAL REPORT ENTERPRISES LIMITED CIN No: L92132MH1982PLC028767 2014-15 in This Report
    investing in tomorrow ZEE ENTERTAINMENT ANNUAL REPORT ENTERPRISES LIMITED CIN No: L92132MH1982PLC028767 2014-15 in this report iswhat ZEE ON THE COVER Investing in tomorrow, the theme for this annual report, is what we believe will lead ZEE to its goals. The creative treatment of the report is a depiction of our strong devoted belief in the quality of our content, and the goodwill of our brand. View this report online at http://www.zeetelevision.com/investor-relations/financials-annual.html To view our Quarterly results please visit http://www.zeetelevision.com/investor-relations/report-earning-release.html FORWARD LOOKING STATEMENTS: In this Annual Report, we have disclosed forward looking information to enable investors to comprehend our future prospects and capabilities and take investment decisions. This report and other statements - written and oral - that we periodically make contain announcements and communication that set out anticipated results based on the management’s plans and assumptions. We have tried, wherever possible, to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these assertions will be realised, although we believe we have been prudent in our communication. The achievements of results are subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should keep this in mind. We undertake no obligation to publicly update any observation , whether as a result of new information, future events or otherwise.
    [Show full text]
  • A Study of the Indian Singing Reality Television Show "Sa Re Ga Ma Pa”
    Rupkatha Journal on Interdisciplinary Studies in Humanities (ISSN 0975-2935) Indexed by Web of Science, Scopus, DOAJ, ERIHPLUS Vol. 13, No. 1, January-March, 2021. 1-16 Full Text: http://rupkatha.com/V13/n1/v13n140.pdf DOI: https://dx.doi.org/10.21659/rupkatha.v13n1.40 Published on March 28, 2021 The Cultural Expressions and Representation of National Identity- A Study of the Indian Singing Reality Television Show "Sa Re Ga Ma Pa” Taranjeet Kaur Chawla1 Shiv Shankar Sharma2 Rayaz Hassan3 1Ph.D. Research Scholar, Department of Journalism and Mass Communication, Manipal University Jaipur, Rajasthan-India. ORCID id: 0000-0002-5336-1964 Email id: [email protected] 2Ph.D. Research Scholar, Department of Journalism and Mass Communication, Manipal University Jaipur, Rajasthan-India. Email id: [email protected] 3Associate Professor, Department of Journalism and Mass Communication, Manipal University Jaipur, Rajasthan-India. Email id: [email protected] Abstract This paper aims to understand the narrative structure of Indian singing reality television show to identify the representation of national identity. By focusing on the “Sa Re Ga Ma Pa” show format, this paper has followed the work of Vladimir Propp to examine the cultural expressions with the sequential development of the narrative plot. The convergent parallel mixed method has been using to collect quantitative and qualitative data. While using the Likert scale, the reliability of the questionnaire has been calculated and reported Cronbach’s alpha coefficient for internal consistency reliability. The quantitative data has gathered from 205 respondents and 99 episodes aired from 2017 to 2019 have analysed in qualitative data, which is followed by data analysis through IBM SPSS Statistics.
    [Show full text]
  • An~Roup Enterprise
    A n ~ roup Enterprise December 6, 2020 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Towers Bandra- Kurla Complex, Bandra (E), Mumbai - 400 051 Dalal Street, Mumbai- 400 001 NSE Symbol: - ZEEMEDIA BSE Scrip Code: - 532794 Kind Attn.: Corporate Relationship Department Subject: Annual Report of the Company for the Financial Year 2019-20 along with Notice calling the 21st Annual General Meeting scheduled to be held on December 29, 2020 Dear Sirs, This is in continuation to our intimated dated November 12, 2020 wherein it was informed that the Board of Directors of the Company have approved convening of the 21st (Twenty first) Annual General Meeting ('AGM') of the Equity Shareholders ofthe Company on Tuesday, December 29, 2020 through Video Conferencing ('VC') /Other Audio Visual Means ('OAVM') and our intimation dated November 30, 2020 wherein copy of Public Notice by way of an newspaper advertisement specifying that the Annual General Meeting will be held on December 29, 2020 through VC or OAVM facility and other requirements relating to AGM, were filed . With regard to the above, we wish to inform you that the 21st Annual General Meeting of the members of the Company is scheduled to be held on Tuesday, December 29, 2020 at 11:30 AM (IST) through Video Conferencing/Other Audio Visual Means. Pursuant to regulation 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Annual Report of Zee Media Corporation Limited for the Financial Year ended on March 31, 2020, along with Notice calling the 21st Annual General Meeting.
    [Show full text]