Annual Report of the Company Alongwith the Notice of AGM for the Financial Year 2018-19, Which Is Being Despatched/Sent to the Shareholders by Permitted Mode(S)
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T.V. TODAY NETWORK LTD. lndia Today Group Mediaplex FC 8, Sector 16 A, Film City, Noida - 201301 Tel: +91 120 4908600 Fax: +91 120 4325028 Website: www.aajtak.in - CIN No : L92200DL1999PLC103001 - Date: July 31,2019 Corporate Relations Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra - Kurla Complex, Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code - 532515 Scrip Code - TVTODAY Dear Sir / Madam, Suh Annual Rewrt 2018-19. Book Ctosm. Cut& date & E-wthfw Amw I Gmerirl Mmnq Further to our intimation dated May 20, 2019 regarding 2oth Annual General Meeting (AGM) of the Company to be held on Thursday, September 12, 2019 and pursuant to Regulation 34,42 and 44 and other applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), please find attached Annual Report of the Company alongwith the Notice of AGM for the Financial Year 2018-19, which is being despatched/sent to the shareholders by permitted mode(s). The Annual Report including Notice are also available on the Company's website atb~s:l/aai~.intodavVinII~tor1 The schedule of AGM is as set out hereunder: Particulars Date(s1 Cut-off date for ascertaining Shareholders who are eligible to September 5, 2019 (Thursday) participate in the remote e-voting /Voting at the AGM Venue and for Payment of Dividend Closure of Register of Members and Share transfer Books for the September 6, 2019 (Friday) to purpose of AGM and Payment of Dividend September 12,2019 (Thursday) (both days inclusive) Remote E-voting period September 9,2019 (Monday) 09:OO A.M. to September 11, 2019 (Wednesday) 05:OO P.M. Dividend Payout Date Dividend if declared, will be paid on or before October 12, 2019 We request you to kindly take the above on record, Thanking you, Yours faithfully, For T.V. Today Network Limited (Ashish Sabharwal) Group Head -Secretarial & Company Secretary I Email ID: ashtsh.sabharwal@~ntodav.corn CC : 1. National Securities Depository Limited 2. Central Depository Services Limited 3. MCS Share Transfer Agent Limited Registered Office : F-26, First Floor, Connaught Place, New c el hi - 11 0001 Registered Office: F-26, First Floor, Connaught Circus, New Delhi-110001 CIN: L92200DL1999PLC103001 , , m. ,, , . , - ,. I --I- I. we- ::: -i-;- -k$:3t --* , ..- - , .C !"'.,, . I -*.I-_ I,. ,,* .'f.- + f, . < xi%,$; A-=' " . .a#-\"&.,; ,- , I,. , , + ,- iXT 4 .," ',, , 'r I I I &-,-a -,* -,-\ f .%,> ,, ANNUAL REPORT 2018-19 Contents Corporate Overview About the Company 07 Corporate Information 284 Bureau Offices 285 Management Overview Chairman’s Message 03 Vice Chairperson’s Message 05 CSR Initiatives 42 Management Discussion and Analysis Report 47 Boards’ Report 52 Report on Corporate Governance 86 Business Responsibility Report 107 Financial Statements Standalone Accounts Auditor’s Report 118 Balance Sheet 127 Statement of Profit and Loss 128 Statement of changes in equity 129 Statement of cash flows 130 Notes forming part of the financial statements 132 Consolidated Accounts Auditor’s Report 196 Balance Sheet 203 Statement of Profit and Loss 204 Statement of changes in equity 205 Statement of cash flows 206 Notes forming part of the financial statements 208 Forward Looking Statement The statement(s) made in this Annual Report describing the Company’s objective, expectations and predictions may be forward looking statement within the meaning of applicable securities laws and regulations. These statements and expectations envisaged by the management are only estimates and actual results may differ from such expectations due to known and unknown risks, uncertainties and other factors including, but not limited to, changes in economic conditions, government policies, technology changes and exposure to market risks and other external and internal factors, which are beyond the control of the Company. Chairman’s Message Dear Shareholders, The Indian Media and Entertainment (M&E) sector continues to show great potential, and the headroom for future growth is significant. The industry is expected to grow at a much faster rate than the global average. The short-term impact of events such as demonetisation and GST is progressively fading away and the long-term benefits could help the economy as well as the sector grow faster. Your company launched Aaj Tak HD, the first Hindi news channel of the country in HD format. It provides superior quality AROON PURIE Chairman viewership, advanced, high-quality graphics of news in HD and clutter-free environment. In addition to taking “Aaj Tak” to another level vis-à-vis the competition in terms of viewer experience and perception, the channel attracts premium The overall performance of your viewership and advertisers. company during FY 2018-19 has been Digital media continued to grow at a fast pace. Digital satisfactory. The operating profit margin for consumption will grow, and monetisation avenues will see great the year was 26.66% (on a standalone basis). innovation to cater to the new Indian customer segments. The demerger of our newspaper Interestingly, mobile subscriber growth was led by rural markets. undertaking of Mail Today Newspapers The growth of digital infrastructure is enabling Indians to fulfil Private Limited (indirect wholly-owned their need for personal content consumption. subsidiary) and merging of the same We have responded proactively to this change of consumer alongwith India Today Online Private behavior by launching 20 digital channels in different genres Limited (wholly-owned subsidiary) with the ranging from regional news to lifestyle. They have all been well company is pending before the National received by their respective audiences. Company Law Appellate Tribunal. The strategy of the company has been to expand its content I would like to place on record my footprint on every available platform to meet the information sincere appreciation to the Board of needs of the consumer. With five broadcast channels it reaches Directors for their guidance and support. I on an average 276 million viewers every month. The digital would also like to express my gratitude to all channels reach nearly 77.6 million unique visitors monthly. The our stakeholders for their continuing faith India Today Group also has a significant social media presence in the company. Further, I would like to with a fan base of 120 million and the India Today Twitter express my heartfelt thanks to all the handle activated in 2015, has crossed 5 million. All this makes employees of the company. It is their hard your company a multimedia powerhouse. work and invaluable contribution which In order to establish itself as the benchmark in the field of continue to provide us strength to forge fact-checked stories and busting misinformation in mainstream ahead in our endeavour. and social media, a fact check team has been set up within the company which works independently of other editorial Warm regards, operations. The fact check team has strengthened the in-house quality control mechanism by minimising the chances of errors across the network, thus enhancing the credibility of the company. Aroon Purie Vice Chairperson’s Message Dear Shareholders, We are in the midst of transformational times, therefore, living by yesterday’s logic is not an option. We stand proud as market leaders by always thinking forward. Technology is changing at such a rapid pace and is offering our industry so many new platforms with such exciting possibilities. With a high brand authority like Aaj Tak and India Today Television, it’s an incredible time to be looking at new opportunities. This year we have launched Aaj Tak HD to a tremendous response. Being India’s first hindi news HD channel is befitting of brand Aaj Tak. Editorial innovations like our newly minted Anti fake news cells (AFWA), Data Intelligence Unit (DIU) and Political Stock Exchange (PSE) have again proven we are ahead of the curve. The Taks ecosystem of digital only specialized channels is thriving and 9 more Taks have been launched this year. I am delighted with all that we have been able to achieve and the value we have added in 2018-19. I am really hopeful about the new high potential options that technology is now offering us. And our effort will always be to keep our shareholders and viewers ahead KALLI PURIE Vice Chairperson by exploiting these prospects to the best of our ability. Warm regards, Kalli Purie T.V. TODAY NETWORK LIMITED T.V. Today Network Ltd. (TVTN) is an India-based company engaged is broadcasting operations. Part of the India Today Group, the company operates mainly in three segments, namely digital, television and radio broadcasting. With its corporate office in Noida, India, the company is spearheaded by Mr Aroon Purie, Chairman & Whole-time Director, and Ms Kalli Purie, Vice-Chairperson & Managing Director. Its shares are listed on Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. The company operates five news channels, namely Aaj Tak, Aaj Tak HD, India Today, Tez and Dilli Aaj Tak. The company also operates three FM radio stations under brand ISHQ 104.8 FM in Delhi, Mumbai and Kolkata. We have an unmatched digital footprint through Aaj Tak & India Today websites, social media and we continue to aggressively build on it with our new digital-first ecosystem of the Taks. LAUNCH OF AAJ TAK HD India’s No. 1 television news channel with over 250 million viewers, Aaj Tak announced the launch of India’s first Hindi HD news channel-Aaj Tak HD, adding another channel in the existing portfolio. Reinforcing its 19-year legacy of being a pioneer, Aaj Tak marked another milestone by ushering in the future through its HD avatar. Aaj Tak HD powers rich exclusives, superior picture and audio quality, lesser ad breaks, making it the preferred news destination.