22Nd ANNUAL REPORT
Total Page:16
File Type:pdf, Size:1020Kb
The People’s Channel 2015-2016 22nd ANNUAL REPORT RAJ TELEVISION NETWORK LTD., 32, Poes Road, 2nd Street, Teynampet, Chennai - 600 018. Tel : 044 - 24351898 / 2926 Fax : 91-44-24341260 Web : www.rajtvnet.in CONTENTS CORPORATE OVERVIEW 01 ABOUT US 32 MANAGEMENT DISCUSSION AND ANALYSIS 02 FINANCIAL HIGHLIGHTS 35 REPORT ON CORPORATE GOVERNANCE 03 FINANCIAL GRAPHS 46 CERTIFICATION ON FINANCIAL STATEMENTS CONTENT BOUQUET 48 INDEPENDENT AUDITOR'S REPORT 04 LEADING SERIALS FINANCIAL STATEMENTS - STAND ALONE 08 LEADING PROGRAMS 51 BALANCE SHEET 11 CSR ACTIVITIES 52 PROFIT AND LOSS STATEMENT STATUTORY REPORTS 53 CASH FLOW STATEMENT 13 CHAIRMAN'S MESSAGE 54 NOTES FORMING PART OF THE FINANCIAL STATEMENTS 14 NOTICE 60 NOTES ON ACCOUNTS 18 DIRECTOR'S REPORT 23 DIRECTOR'S REPORT ANNEXURES 63 ATTENDANCE SLIP & PROXY FORM FORWARD LOOKING STATEMENT In this Annual Report, we have disclosed forward looking information to enable investors to comprehend our prospects and take investment decisions. This report and other statements - written and oral - that we periodically make contain forward looking statements 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 forward looking statements will be realised, although we believe we have been prudent in our assumptions. The achievements of results are subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, 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 forward looking statement, whether as a result of new information, future events or otherwise. 01 ANNUAL REPORT 2015-2016 RAJ TELEVISION NETWORK LTD., ABOUT US Raj Television Network Ltd., incorporated on June 3,1994 to provide wholesome entertainment for the entire family Channels and it is a leading south Indian broadcaster with Tamil Language presence in Tamil, Kannada, Telugu, Hindi and Malayalam Raj TV, Raj Musix, Raj Digital Plus entertainment media. and Raj News Kannada Language Vision: Raj Musix Kannada & To become Global leader in providing mass entertainment Raj News Kannada in multifarious digital and television media. Telugu Language Mission: Raj Musix Telugu, Raj News Telugu To be peoples Channel and to reach every households to and Vissa TV provide wholesome Entertainment. Hindi Language Raj Parivaar Business Activities: Malayalam Language Broadcasting Entertainment Channels. The channel content Include Movies, Comedy Raj Musix Malayalam & Shows, Game shows, Music shows, News time, etc. Export of content in foreign Raj News Malayalam. market and Web casting movie content over the Internet, IP TV, OTT Technologies Upcoming Channels and various mediums of Infotainment. A lot of effort is being taken to ensure that the Raj Nagaichuvai (Tamil), programming mix appeals to people of all ages, of all background making it truly a Raj Kids (Tamil) & PEOPLE'S CHANNEL. Raj Movies (Kannada) are in pipe line. BOARD OF DIRECTORS REGISTERED OFFICE CHANNELS MR. M. RAAJHENDHRAN CHAIRMAN AND MANAGING DIRECTOR RAJ TELEVISION NETWORK LIMITED MR. M. RAJARATHNAM DIRECTOR- DISTRIBUTION 32, Poes Road, 2nd Street, MR. M. RAVINDRAN DIRECTOR- OPERATIONS MR. M. RAGHUNATHAN DIRECTOR-MARKETING Teynampet, Chennai - 600 018 MR. D. R. KAARTHIKEYAN INDEPENDENT DIRECTOR Tel: +91- 44 -044 - 24351898 / 2926, MR. R. RAJAGOPALAN INDEPENDENT DIRECTOR Fax: +91- 44 - 24341260 MR. A. ARJUNA PAI INDEPENDENTDIRECTOR Email : [email protected], MR. MOHAN KAMESWARAN INDEPENDENT DIRECTOR Website: www.rajtvnet.in, www.rajtv.tv MRS. R. VIJAYALAKSHMI WOMAN DIRECTOR CHIEF FINANCIAL OFFICER REGISTRAR AND SHARE TRANSFER AGENT MR. S. JEYASEELAN. CAMEO CORPORATE SERVICES LIMITED COMPANY SECRETARY & COMPLIANCE OFFICER MR. JOSEPH CHERIYAN: (ACS) SUBRAMANIAN BUILDING, AUDIT COMMITTEE NO.1, CLUB HOUSE ROAD,CHENNAI - 600 002, MR. A. ARJUNA PAI (CHAIRMAN) PHONE NO. 044-28460390-94,FAX NO. 28460129 MR. R. RAJAGOPALAN MR. M. RAVINDRAN EMAIL: [email protected] NOMINATION AND REMUNERATION COMMITTEE STOCK EXCHANGE(S) & STOCK CODE(S) MR. R. RAJAGOPALAN (CHAIRMAN) NATIONAL STOCK EXCHANGE OF INDIA LIMITED (RAJTV) MR. D. R. KAARTHIKEYAN MR. A. ARJUNA PAI BSE LIMITED (532826) SHAREHOLDERS & INVESTORS RELATIONSHIP COMMITTEE BANKERS MR. D. R. KAARTHIKEYAN (CHAIRMAN) CANARA BANK - TEYNAMPET BRANCH MR. M. RAJENDRAN, MR. M. RAVINDRAN STATE BANK OF INDIA - OVERSEAS BRANCH CSR COMMITTEE INDIAN BANK - ANNA SALAI MR. D. R. KAARTHIKEYAN (CHAIRMAN) HDFC BANK LIMITED MR. R. RAJAGOPALAN LIASION OFFICES MR. M. RAGHUNATHAN STATUTORY AUDITORS DELHI M/S PRATAPKARAN PAUL & CO, 1407-08, ANSAL TOWERS , 14TH FLOOR, CHARTERED ACCOUNTANTS 38,NEHURU PLACE , NEW DELHI -110 019 B-8, GEMS COURT, NO.25/14, KHADER NAWAZ KHAN ROAD, HYDERABAD NUNGAMBAKKAM, CHENNAI - 600 034. FLAT NO. 8-2-293/82/A/656/1,ROAD NO. 32, SECRETARIAL AUDITORS JUBILEE HILL, HYDERABAD, 500 033. M/S NAGARAJAN & CO., NEW NO. 29 KAVARAI STREET, MUMBAI WEST MAMBALAM, CHENNAI 600 033 NO. 105, SWAPNA CO-OP HSG SOCIETY, INTERNAL AUDITORS 1ST FLR, S.K. BHOLE MARG, DADAR WEST, SARAVANAN AND CO., CHARTERED ACCOUNTANTS. MUMBAI - 400 028. KGEYES SRINIVASS FLATS, NO.7, SRINIVASAPURAM IST ST, BANGALORE THIRUVANMIYUR, CHENNAI – 600 041. K.K.M.P BUILDING, SECOND FLOOR, LEGAL COUNSEL HSB PARTNERS NO.16/1, MILLER TANK NAGAR, CAPITALE, 9TH FLOOR, BANGALORE-560 052. 555 ANNA SALAI , TEYNAMPET, CHENNAI 600 018 THE PEOPLE’S CHANNEL 02 ANNUAL REPORT 2015-2016 RAJ TELEVISION NETWORK LTD., FIVE YEAR FINANCIAL HIGHLIGHTS (Amounts in Rs. Crores) FIVE YEAR FINANCIAL HIGHLIGHTS Year Ending 31st March 2012 2013 2014 2015 2016 REVENUE ACCOUNT TOTAL INCOME 54.74 68.27 80.54 83.89 82.90 % to Income from Operations % 21% 25% 18% 4% -1% Operation Expenses ` 18.23 26.82 23.72 21.24 40.37 Employee Benet Expenses ` 10.12 11.68 17.60 22.90 22.43 Depreciation and Amortisation Expenses ` 3.29 3.68 3.96 6.47 6.54 Finance Cost ` 1.88 3.87 4.68 6.33 4.52 Administrative and other Expenses ` 11.36 12.57 14.69 13.97 14.41 TOTAL EXPENDITURE ` 44.89 58.61 64.65 70.93 88.27 PBDIT ` 15.03 17.21 24.52 25.77 5.70 PBDT ` 13.15 13.33 19.85 19.44 1.18 PBT ` 9.86 9.66 15.89 12.97 -5.37 TAX EXPENSES ` 0.64 0.37 2.98 4.81 0.68 PAT ` 9.21 9.29 12.91 8.16 -6.05 % TO TOTAL INCOME % 17% 14% 16% 10% -7% Dividend 1.30 1.30 1.95 2.60 1.30 Dividend % % 10% 10% 15% 10% 5% CAPITAL ACCOUNT Share Capital ` 12.98 12.98 25.96 25.96 25.96 Reserve and surplus ` 81.72 89.50 131.37 129.34 121.73 BANK BORROWINGS - - - - Long Term Borrowings ` 9.74 7.05 12.49 1.38 3.17 Short Term Borrowings ` 7.69 7.09 24.97 24.40 30.27 TOTAL BANK BORROWINGS ` 17.43 14.15 37.47 25.79 33.44 Other Long term Liabilities ` 9.11 9.90 9.31 9.10 9.74 Current Liabilities Excluding short term borrowings ` 13.21 19.75 37.39 34.42 42.81 CAPITAL EMPLOYED ` 126.75 139.18 216.52 200.20 203.41 Current Assets ` 50.39 53.45 77.65 76.10 82.09 Fixed Assets ` 52.68 64.18 113.99 102.72 98.58 Other Non Current Assets ` 23.68 21.54 24.89 21.38 22.74 CAPITAL DEPLOYED ` 126.75 139.18 216.52 200.20 203.41 Closing market price per share Face Value (Rs.) ` 10.00 10.00 5.00 5.00 5.00 Market Price ` 153.30 195.00 147.00 114.00 64.50 No of shares ` 12978336 12978336 51913344 51913344 51913344 MARKET CAPITALISATION ` 198.96 253.08 763.13 591.81 334.84 PERFORMANCE RATIO ANALYSIS FINANCIAL PERFORMANCE Advertisement Income/Income from Operations % 55.62 57.69 44.28 60.81 51.78 Airtime Selling income / income From operations % 24.89 19.38 17.43 21.19 28.14 Subscription Income/Income from Operations % 19.50 22.93 38.29 17.99 20.08 Operating Prot/Income from Operations % 7.02 25.47 30.86 31.05 6.88 Other Income/Total Income % 1.26 1.08 1.33 1.06 0.04 Programming Cost/Income from Operations % 33.72 39.71 29.85 25.59 48.71 Personnel Cost/Income from Operations % 18.72 17.29 22.15 27.59 27.06 Selling and Admin Expenses/Income from Operations % 21.02 18.61 18.48 16.83 17.39 Total Operating Cost/Income from Operations % 102.51 85.86 80.27 84.54 106.47 Financial Expenses/Income from Operations % 3.43 5.67 5.81 7.55 5.45 Tax/Income from Operations % 1.18 0.54 3.70 5.73 0.82 Tax/PBT % -46.91 3.84 18.74 37.08 - Dividend Payout/PAT for the year % -64.35 13.98 15.08 31.82 - Dividend Payout/Eective Networth % 1.02 0.93 0.90 1.30 0.64 NETWORTH ` 94.70 102.47 157.32 155.29 147.68 BALANCE SHEET Debt-Equity ratio (Total loans/E. Networth) % 13.75 10.16 17.30 12.88 16.44 Current ratio (Current assets/Current liabilities) (x) 3.82 2.71 2.08 2.21 1.92 Capital Output Ratio (Inc from Ops/E. Capital employed) (x) 0.43 0.49 0.37 0.41 0.41 Fixed assets Turnover (Inc from Ops/Fixed assets) (x) 1.03 1.05 0.70 0.81 0.84 RONW (PAT for the year/E.