3 NDTV AR Consol 2016-17 105-152.indd 152 8/16/2017 9:14:28 AM Contents Board of Directors 3 Awards of Excellence 4 Letter to Shareholders 6 Directors' Report 9 Corporate Governance Report 43 Standalone Financial Statements 69 Consolidated Financial Statements 105 1 NDTV AR 2016-17 1-68.indd 1 8/16/2017 9:22:21 AM 1 NDTV AR 2016-17 1-68.indd 2 8/16/2017 9:10:40 AM Board of Directors: Mrs. Radhika Roy Executive Co-Chairperson Audit Committee Mr. Kaushik Dutta - Chairperson Dr. Prannoy Roy Mr. Pramod Bhasin Executive Co-Chairperson Mr. John Martin O’Loan Ms. Indrani Roy Mr. Pramod Bhasin Non-Executive Director Nomination & Remuneration Committee Mr. Kaushik Dutta -Chairperson Mr. Kaushik Dutta Dr. Prannoy Roy Non-Executive Independent Director Mr. John Martin O’Loan Ms. Indrani Roy Mr. John Martin O’Loan Non-Executive Independent Director Stakeholders Relationship Committee Ms. Indrani Roy-Chairperson Ms. Indrani Roy Mrs. Radhika Roy Non-Executive Independent Director Dr. Prannoy Roy Group CEO & Executive Vice-Chairperson Mr. K.V.L. Narayan Rao Director, Finance and Group CFO Mr. Saurav Banerjee Company Secretary and Compliance Officer Mr. Navneet Raghuvanshi Auditors B S R & Associates LLP, Chartered Accountants, Building No.10, 8th Floor, Tower B, DLF Cyber City, Phase - II, Gurugram -122 002 Phone : +91 124 7191000 Fax : +91 124 2358 613 Registered Office 207, Okhla Industrial Estate, Phase-III, New Delhi-110020 Phone : +91 11 - 4157 7777, 2644 6666 Fax : +91 11 - 49862990 E-mail: [email protected] Web: www.ndtv.com Board of Directors 3 1 NDTV AR 2016-17 1-68.indd 3 8/16/2017 9:10:40 AM Annual Report 2016-17 Awards of Excellence: 2016-2017 WAN-IFRA Digital Media Awards 2016 – September IAMAI India Digital Awards – February 2017 2016 Best News Website - NDTV.com Gold: Best News Product - Gadgets 360 Best in Specialised e-commerce - Gadgets 360 Gold: Best Entertainment and Lifestyle Website – NDTV-Nirmal MyFit 100 days ENBA 2016 (exchange4media) Awards – February 2017 Silver: Best News Website – NDTV.com Best In-depth Series – English - Truth vs Hype: NDTV Silver: Best News Product - News Beeps 24x7 Silver: Best Digital Advertising Campaign – L’Oreal Best New Coverage – National – English - Special Paris Women of Worth 2016 Jury Commendation NDTV’s Extensive Coverage of Drought in India: NDTV 24x7 Silver: Best Use of Online Video – Shiksha Ki Ore campaign Best News Coverage – International – English - Noopur Tiwari - November Paris Attack 2015: NDTV Silver: Best Entertainment and Lifestyle Mobile Service 24x7 – NDTV-Nirmal MyFit 100 days Best Channel or Programme Promo – English/Hindi Bronze: Best News Product – Vixty App - Chidiya Udd – Hindi: NDTV Bronze: Best Use of Online Video - L’Oreal Paris Public Relations Council of India Awards – March Women of Worth 2016 2017 Bronze: Best Visualisation Project – NDTV-Dettol Chanakya Award for Media Personality of the Year - Banega Swachh India Maya Sharma, NDTV Ramnath Goenka Excellence in Journalism Awards Gandhi Peace Foundation – March 2017 2015 - November 2016 First Kuldip Nayar Award for Journalism - On The Spot Reporting (Broadcast): Aamir Rafiq Ravish Kumar, NDTV India Peerzada & Rakesh Solanky - NDTV Prime ISC-FICCI Sanitation Awards - April 2017 Environment (Broadcast): Sushil C Bahuguna - NDTV India Media for Sanitation Award - NDTV 21st Asian Television Awards – December 2016 2017 New York Festivals TV & Film Awards - April 2017 Best News Programme: NDTV - The Buck Stops Here: Terror in Pathankot Silver: Station/Image Category for NDTV Promotion ID ’You Are What You Watch’ Promax Asia Awards 2016 – December 2016 Bronze: News Promotion Category – NDTV for Gold: Best News and Current Affairs Promo - NDTV’s Promotion ID ‘You Are What You Watch Cell Animation’ Non-Tabloid Campaign: You Are What You Watch Bronze: -Film & Video Education/Information/ Silver: Best Public Service Announcement - NDTV’s Entertainment Productions Category – NDTV Passing Every Life Counts Campaign: Passing the Baton The Baton - Every Life Counts 4 Awards of Excellence 1 NDTV AR 2016-17 1-68.indd 4 8/16/2017 9:10:40 AM Annual Report 2016-17 Awards of Excellence: 2016-2017 The Laadli Media & Advertising Awards for Gender Inkspell Master of Modern Marketing 2017 Awards Sensitivity 2015-2016 – April 2017 (mCube Awards) – May 2017 Uma Sudhir for Revolt By Child Brides Best Content in a Digital Marketing Campaign – NDTV-Fortis More To Give Campaign India International CSR Conclave 2017 – May 2017 Mumbai Press Club RedInk Awards 2017 – June 2017 CSR Project Of The Year – Media: NDTV for the NDTV- Dettol Banega Swachh India campaign Excellence in Science & Innovation - TV Pandit Hari Dutt Sharma Award – May 2017 Aamir Rafiq Peerzada, NDTV Prime – Lighting The Himalaya Excellence in Hindi Journalism – Nidhi Kulpati, NDTV India Excellence in Human Rights Reporting Promax India 2017 – May 2017 Maya Mirchandani, NDTV 24x7 – India Matters - Bastar Best News/Current Affairs Category Excellence in Political Reporting Gold: NDTV You Are What You Watch Non Tabloid Cell Sreenivasan Jain, NDTV 24x7 – Truth vs Hype – Gau Animation promo Rakshaks – Protectors or Extortionists? Silver: NDTV You Are What You Watch Non Tabloid promo Awards of Excellence 5 1 NDTV AR 2016-17 1-68.indd 5 8/16/2017 9:10:40 AM Annual Report 2016-17 Dear Shareholders Thank you dear shareholders for being with us and for not an exaggeration to say that ndtv.com is India’s greatest your solid unstinting support of your company, NDTV. and strongest voice internationally. Your voice in support has once again been very important to the success of ndtv. Your, NDTV, is now, more than ever, widely seen in India com globally. With your support we expect to continue to and across the world as the most balanced and upright grow rapidly in the digital and internet domain. media network in India. NDTV stands apart from the rest for its integrity - in a media climate where much of Indian The NDTV network of television channels are among television have decided to forgo their sense of balance. the very few voices of reason, balance and professional journalism. NDTV is now respected more than ever before As a result of this distinction, NDTV gets a higher as we work unrelentingly to broadcast the truth. For NDTV advertising rate per eyeball compared with all channels the constitution is our touchstone – and our journalism will in India. always adhere to its principles. While there is little doubt that honest and forthright media Thank you once again dear shareholder. In addition to in India today faces attacks from forces of bias, dishonesty your support … NDTV has received amazing strength of and extortion. Nevertheless we are proud that India is a support from all across our country and from media across great great country with a relatively free and strong media. the world – many of the finest and most respected global This year has once again reinforced our belief – a belief newspapers and magazines have come out publicly in we have reiterated in previous years – that the Internet and support of NDTV and the balanced journalism that we our digital strength is the future path for NDTV. The world, stand for. like NDTV, is shifting focus rapidly from only traditional God bless every single NDTV shareholder for this strength media to new media. NDTV is India’s leader in this – and and focus. we are so proud of the trust and value placed in ndtv.com by digital users all across India. In fact, the value of ndtv. Radhika and Prannoy Roy com is even greater understood by the very large and Founders and Executive co-Chairpersons intense interaction and user base all across the globe. It is NDTV 6 Letter to Shareholders 1 NDTV AR 2016-17 1-68.indd 6 8/16/2017 9:10:40 AM New Delhi Television Limited 1 NDTV AR 2016-17 1-68.indd 7 8/16/2017 9:10:40 AM 1 NDTV AR 2016-17 1-68.indd 8 8/16/2017 9:10:40 AM Annual Report 2016-17 DIRECTORS’ REPORT DEAR MEMBERS, Your Directors have pleasure in presenting the Twenty Ninth Annual Report and audited financial statements of the Company for the financial year ended March 31, 2017. FINANCIAL RESULTS The financial performance of the Company for the year ended March 31, 2017 as compared to the previous financial year ended March 31, 2016 is summarized as under:- (Rs. in Million) Year ended Year ended Year ended Year ended 31.03.2017 31.03.2016 31.03.2017 31.03.2016 Standalone Consolidated Business Income 3,817.27 4,286.98 5,226.65 5,657.65 Other Income 63.42 54.53 125.36 113.59 Total Income 3,880.69 4,341.51 5,352.01 5,771.24 Profit/(Loss) before exceptional and extra-ordinary (452.53) (210.59) (578.10) (681.04) items and tax Exceptional items 74.00 - 74.00 - Current Tax 7.07 5.51 85.56 79.62 Deferred Tax write down - - (0.55) (4.28) Tax for earlier years (0.24) - (0.24) - Profit/(Loss) after Tax (533.36) (216.10) (736.87) (756.38) Share of minority - - (47.02) (191.65) Share in Profit/(Loss) of associate - - 2.03 16.53 Profit /(Loss) for the year carried to Reserves and (533.36) (216.10) (687.82) (548.20) Surplus Balance Profit/(Loss) brought forward from previous year (2,209.47) (1,993.37) (3,045.96) (2,497.76) Balance as at the end of the year (2,742.83) (2,209.47) (3,733.78) (3,045.96) Earning Per Share (8.27) (3.35) (10.67) (8.50) CONSOLIDATED FINANCIAL STATEMENTS In accordance with Accounting Standard – 21 on Consolidated Financial Statements and Accounting Standard – 23 on Accounting for Investments in Associates in Consolidated Financial Statements, the audited consolidated financial statements are provided in the Annual Report.