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WPP - 40317777 www.westernpress.in JAGRAN PRAKASHAN LIMITED BOARD OF DIRECTORS SHAREHOLDERS/ INVESTORS GRIEVANCE COMMITTEE Mr. Mahendra Mohan Gupta Mr. Bharatji Agrawal Chairman and Managing Director Chairman Mr. Sanjay Gupta Mr. Rashid Mirza Whole Time Director and CEO Mr. Sunil Gupta Mr. Dhirendra Mohan Gupta Mr. Sanjay Gupta Whole Time Director Mr. Sunil Gupta REMUNERATION COMMITTEE Whole Time Director Mr. Naresh Mohan Mr. Shailesh Gupta Chairman Whole Time Director Mr. Gavin K.O’Reilly Mr. Shailendra Mohan Gupta Mr. Kishore Biyani Mr. Devendra Mohan Gupta Mr. Vijay Tandon Mr. Rajendra Kumar Jhunjhunwala COMPANY SECRETARY & COMPLIANCE OFFICER Mr. Shashidhar Narain Sinha Mr. Amit Jaiswal Sir Anthony J.F.O’Reilly REGISTRAR & SHARE TRANSFER AGENTS Mr. Anuj Puri Karvy Computershare Private Limited Mr. Bharatji Agrawal Plot No.17 to 24, Mr. Gavin K.O’Reilly Vittal Rao Nagar, Madhapur, Mr. Kishore Biyani Hyderabad 500081 Mr. Naresh Mohan AUDITORS Mr. Rashid Mirza Price Waterhouse, Chartered Accountants Mr. Vijay Tandon Building 8, 7th & 8th Floor, Tower B, DLF CyberCity, Mr. Vikram Bakshi Gurgaon 122002 Mr. Rahul Gupta Alternate Director to Mr. Gavin K.O’Reilly BANKERS TO THE COMPANY Mr. Barry David Mc Auliffe Central Bank of India Alternate Director to Sir Anthony J.F. O’Reilly Bank of Baroda ICICI Bank Limited AUDIT COMMITTEE Allahabad Bank Mr. Vijay Tandon State Bank of India Chairman Union Bank of India Oriental Bank of Commerce Mr. Gavin K. O’Reilly Mr. Kishore Biyani REGISTERED OFFICE Mr. Naresh Mohan Jagran Building 2 Sarvodaya Nagar Mr. Rajendra Kumar Jhunjhunwala Kanpur-208005 JAGRAN PRAKASHAN LIMITED CONTENTS Sr.No. Particulars Page No. 1 Notice 6 2 Directors` Report 7 3 Report on Corporate Governance 10 4 Management Discussion and Analysis Report 25 5 Compliance Certifi cate on Corporate Governance 36 6 Auditors` Report 37 7 Balance Sheet 40 8 Profi t and Loss Account 41 9 Cash Flow Statement 42 10 Schedules to Accounts 44 11 Signifi cant Accounting Policies 54 12 Notes to Accounts 56 13 Balance Sheet Abstract and Company`s General Business Profi le 74 2 33rd Annual Report 2008-2009 Jagran Prakashan Ltd (JPL) is India’s leading media and communications group, with its main interests across Newspapers, Outdoor, Internet, Magazines, Below the Line marketing solutions, and Mobile Value Added Services. Dainik Jagran Dainik Jagran is the flagship brand of the company. In today’s dynamic media world , where consumers have an unprecedented array of choices, Dainik Jagran stands out as a brand that is the choice of millions of Indians as they start their day. With a readership of 55 mn, it has been the largest read daily of India for the last consecutive 12 rounds of the total Indian Readership Survey (IRS). With 37 editions, Dainik Jagran covers 11 states of India. It has also been declared by the World Association of Newspapers (WAN) as the Largest read daily in the world. Not just the largest read, Dainik Jagran has also been voted as the Most Credible Source of News in a BBC-Reuters survey. The genesis for Dainik Jagran was in the year 1942. The year when the freedom struggle of India reached its crescendo and found expression in the “Quit India movement”. Dainik Jagran was launched during this time with the vision of our founder Shri Puran Chandra Gupta, to “Create a newspaper that would reflect the free voice of the people”. This vision was as much a reflection of the time when it was propounded as much as it is relevant to us today. Even as on today, when Dainik Jagran area of operation controls the political destiny of the largest democracy in the world, the vision continues to guide us. i-next i-next, India’s fastest growing compact daily in bilingual format, has caught on to the pulse of the Young at Heart. In a very short span of time, it has captured the imagination of people who look out for newer opportunities and seek deeper probes into the more relevant issues of changing India. It now covers 9 prominent cities in 4 states of India. IRS 2009 R1 covered for the first time 6 editions of I next and as per survery the total readership was an impressive 1.3 mn. It distinctly stands apart from its competitor due to its beautiful packaging of news, attractive layout design and the versatility of news & features. These accomplishments have made I next the pulse of today’s Youthful India wherever it’s present. City Plus City Plus is the Weekly English Tabloid from the group. It is an English News-Information- Entertainment paper with 16 editions from Delhi, NCR, Bangalore and Pune , targeting premium geographic localities. An aesthetically designed all colour newspaper editorially cover a variety of topics from Food, Fashion, Lifestyle, etc. Apart from this, it also has reader interactivity through Contests, Coupons, Puzzles, Quiz, Crossword, Games, Polls, Suggestions. Sakhi Sakhi is a premium women’s magazine targeted at upwardly mobile & outgoing women in the upper segment of the socio-economic class. The Sakhi reader retains her cultural values but is contemporary and modern in her outlook. The magazine also highlights the role of women in modern times & helps them in coping with the outside world. Jagran Engage Jagran Engage is the OOH division of JPL which specializes in Out of Home media solutions across India. Jagran Engage covers 900 + towns spread across 370 districts in 27 states. Engage offers comprehensive Out-Of-Home (OOH) solutions to customers through its bouquet of offerings of Hoardings & Billboards, Unique Street Furniture, Transit & Mobile Media besides innovative & ambient to suit specific client requirements. Jagran Solutions Jagran Solutions is the division of JPL that leads work in the Below the Line Marketing Solutions or Experiential Marketing area. Jagran Solutions has been at the forefront of transformation; transforming imagination into realities & ideas into beliefs. Awarded with numerous awards at various national and international platform like PMAA & AIPA, Jagran Solutions specializes in providing versatile, complete and measurable solutions in ensuring an immersive, interactive and experiential integrated marketing plan applicable to activations, corporate events, conventions, product launches, meetings, conferences, exhibitions and contests. 3 JAGRAN PRAKASHAN LIMITED J 9 J9 is the value added services division of JPL which is currently working in the field of mobile value added services & home shopping in an active manner. It has just launched an Online Digital Classified platform (khojle.in). wap.jagran.com J9Mobile also offers Enterprise & Brand solutions via 57272 platform. Jagran Pehel As a responsible corporate citizen, JPL supports a specifically dedicated outfit of Shri Puran Chandra Gupta Smarak Trust, Pehel to discharge its social responsibilities and provide social services such as organizing workshops/seminars to voice different social issues, health camps/ roadshows for creating awareness on the social concerns and helping underprivileged masses. Pehel is working with various national and international organizations such as World Bank on various projects to effectively discharge the responsibilities entrusted by the company. The company has also been assisting trusts and societies dedicated to the cause of promoting education, culture, healthcare, etc. Jagran International Jagran International is the international division of JPL responsible for marketing JPL products outside of India. Amongst other things, develops country reports for India, and works with our international associates to develop India Reports in markets like Ireland, UK, South Africa, Australia and New Zealand. www.jagran.com The group foray into the internet space has been through “jagran.com” which is the most visited Hindi news portal in the world. We have entered into a strategic alliance with Yahoo India to launch a co-branded site. Jagran Foundation JPL supports a specially dedicated outfit Shri Puran Chandra Gupta Smarak Trust, Jagran Foundation which undertakes initiatives that would help towards the larger cause of nation building. The first in the series of such initiatives is Jagran Forum – our first step towards “Thought Leadership”. The 1st Jagran Forum was on Democracy, Development and Social Inclusion. The 2nd Forum was on “Democracy and Conflict Resolution in Asia”. Both were attended by dignitaries from across India and the World including the Prime Minster and Vice President of India have been present at the Jagran Forum. Jagran Research Centre (JRC) of JPL was established in May, 1996 as premier multidisciplinary research & consulting organization. JRC has undertaken various projects of key importance ranging from collection of vital market data, organizing strategic planning process for improving customer satisfaction and enhancing competitive advantage. Over the years Jagran Research Centre has developed various methodologies in the field of Market Research, Consumer research, Perspective Plans, involved in developing databases on socio economic indicators and expertise for consultation. In the recent time, JRC has evolved into a strategic business unit and is publishing, reference books and magazines. These books include Jagran Yearbooks, Country and statewise statistical databank, Jagran JOSH monthly magazine and others. 4 33rd Annual Report 2008-2009 PERFORMANCE HIGHLIGHTS 5 JAGRAN PRAKASHAN LIMITED NOTICE NOTES: NOTICE is hereby given that the 33rd Annual General Meeting i. A Member entitled to attend and vote is entitled to appoint of the Members of JAGRAN PRAKASHAN LIMITED will be a proxy to attend and vote instead of himself and the held on Friday, the 21st day of August, 2009 at 12:30 P.M. at proxy need not be a member of the Company. Proxies, in Ulhaas Banquet Hall, Rave-3, Parwati Bagla Road, Kanpur to order to be effective must be received at the Company’s transact the following business: Registered Offi ce not less than 48 hours before the meeting. Proxies submitted on behalf of limited companies, Ordinary Business: societies, partnership fi rms, etc. must be supported by 1.