Company overview
 
 The Company is in the businesses of Printing and publication of
 newspapers and periodicals, sports and entertainment under the Brand
 Deccan Chargers, chain of leisure stores offering various consumer
 lifestyle products under the Brand Odyssey.
 
 The Company is the publisher of the largest circulated English
 Newspaper in South India – Deccan Chronicle with a circulation of
 over 1.426 Million Copies per day (Source: ABC Jan-June'' 2011) across
 Andhra Pradesh, Tamil Nadu and Karnataka. The Company also publishes
 another English daily The AsianAge, English Financial Newspaper
 Financial Chronicle and Andhra Bhoomi a Telugu Daily, weekly,
 monthly.
 
 The Company is the owner of the Hyderabad Franchise of the Indian
 Premier League (IPL) Deccan Chargers, created by the Board of Control
 for Cricket in India (BCCI).
 
 Odyssey aims to fulfill the aspirational needs of consumer, positioned
 as neighborhood leisure store offering consumer lifestyle products like
 books, music, stationery, gift items, toys, pens, eye-ware etc., having
 stores spread across the States of Tamil Nadu, Andhra Pradesh,
 Karnataka, Maharashtra and National Capital Region.
 
 1.1.  Basis for preparation of financial statements
 
 The financial statements have been prepared to comply in all material
 respects with mandatory Accounting Standards as specified in the
 Companies (Accounting Standards) Rules, 2006. The accounts are prepared
 under historical cost convention and on going concern basis, with
 revenue recognized, expenses accounted on their accrual and in
 accordance with Generally Accepted Accounting Principles in India. The
 accounting policies have been consistently applied by the company.
 
 1.2.  Use of estimates
 
 The preparation of financial statements requires estimates and
 assumptions to be made that affect the reported amount of assets and
 liabilities on the date of the financial statements and the reported
 amount of revenues and expenses during the reporting period. Difference
 between the actual results and estimates are recognized in the period
 in which the results are known/ materialized.
 
 1.3.  Inventory
 
 Raw materials, stores, spares & consumables useable in the printing and
 publication of newspapers and periodicals are valued at cost on FIFO
 basis. Cost includes applicable taxes, duties and transportation,
 handling and interest cost. Inventories of Odyssey are valued at the
 lower of cost and net realizable value. Cost is determined by the
 weighted average cost method.  There is no work-in-process and finished
 stock.
 
 1.4.  Fixed assets and depreciation
 
 Assets are stated at cost of acquisition less accumulated depreciation.
 Expenditure which are of capital in nature are capitalized at cost,
 which comprises of purchase price (net of rebates and discounts),
 import duties, levies and all other expenditure directly attributable
 to cost of bringing the asset to its working condition for its intended
 use. Financing costs relating to acquisition of fixed assets are also
 included to the extent they relate to the period till such assets are
 ready to be put to use.  Depreciation on fixed assets is provided on
 the basis of Straight Line Method, at the rates and in the manner
 prescribed in the Schedule XIV to the Companies Act, 1956. On additions
 and disposals, depreciation is provided for the period of use during
 the year under report. Brand and Editorial content property rights
 which are acquired are amortized on straight line basis over period of
 ten years and other expenditure is amortized equally over a period of
 five years.
 
 1.5.  Revenue recognition
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the company and the revenue can be
 reliably measured. Specifically, the following basis is adopted;
 
 Advertisements: Advertisement revenue is recognized, net of discount
 and commission, as and when advertisement is published. Further,
 advertisement revenue earned, as per arrangement with BCCI, from sale
 of media rights, sponsorship and in stadia advertisement etc., are
 recognized on accrual / intimation of BCCI.
 
 Circulation Revenue: Circulation revenue is recognized, net of
 commission, on dispatch of newspapers and periodicals.
 
 Sale of merchandise: Revenue from sale of merchandise is recognized
 when significant risks and rewards in respect of ownership of products
 are transferred to the customer.
 
 Other Operating Income: Ticket revenue from the viewership in stadium,
 sale of scrap and interest income etc., is recognized as other income.
 
 1.6.  Capital work in progress
 
 Advances paid towards the acquisition of fixed assets and direct
 expenses pertaining to the cost of assets, not put to use before the
 year end are disclosed under ''Capital work in progress''
 
 1.7. Foreign currency transactions
 
 Foreign exchange transactions are accounted at the rates prevailing on
 the date of transactions. Monetary assets and liabilities relating to
 foreign currency transactions unsettled at the end of the year are
 translated at year end rates. The difference in translation of monetary
 assets and liabilities and realized gains and losses on foreign
 exchange transactions are recognized in the Profit and Loss Account.
 
 1.8. Investments
 
 Investments that are readily realizable and intended to be held for not
 more than a year are classified as ''Current Investments''.  All other
 investments are classified as ''Long-Term Investments'' and carried at
 cost of acquisition.
 
 1.9. Amalgamations
 
 Pursuant to Sec 394 of the Companies Act, 1956 the Hon'' ble High Court
 of Andhra Pradesh vide its order dated March 12, 2010 sanctioned the
 scheme of amalgamation of Sieger Solutions Limited, Asianage Holdings
 Limited and Deccan Chronicle Bangalore Limited with the Company from
 the appointed date of April 1, 2009.
 
 Pursuant to Sec 394 of the Companies Act, 1956 the Hon'' ble High Court
 of Andhra Pradesh sanctioned the schemes of amalgamation of a) Netlink
 Technologies Ltd. b) Deccan Chargers Sporting Ventures Ltd. and Odyssey
 India Ltd. with the Company vide its orders dated March 9, 2011 and
 April 15, 2011 respectively, from the appointed date of April 1, 2010.
 
 1.10. Retirement benefits
 
 Retirement benefits in the form of Provident Fund are charged to the
 Profit & Loss Account of the year when the contributions to the
 respective funds are due. Gratuity, which is a defined benefit plan, is
 provided as per actuarial valuation, determined by an independent
 actuary, as on balance sheet date.
 
 1.11. Borrowing costs
 
 Borrowing costs that are attributable to the acquisition or
 construction of qualifying assets are capitalized as part of the cost
 of such asset. A qualifying asset is one that requires substantial
 period of time to get ready for its intended use. All other borrowing
 costs are charged to revenue account.
 
 1.12. Leases
 
 Assets taken on finance lease are capitalized at the inception of the
 lease at the lower of the fair value or the present value of minimum
 lease payments and a liability is created for an equivalent amount.
 Each lease rental paid is allocated between the liability and interest
 cost, so as to obtain a constant periodic rate of interest on
 outstanding liability for each period. Operating leases in respect of
 office & other equipment, house for employees, Office buildings are
 cancelable / renewable by mutual consent on agreed terms. Lease
 payments under an operating lease are recognized as an expense in the
 Profit and Loss account.
 
 1.13. Earnings per share
 
 Basic and Diluted Earnings Per Share (EPS) is reported in accordance
 with Accounting Standard 20 on Earning Per Share. EPS is computed by
 dividing the net profit or loss after tax for the year by weighted
 average number of Equity shares outstanding during the year. Diluted
 EPS is computed by dividing the net profits or loss after tax for the
 year by the weighted average number of equity shares outstanding during
 the year as adjusted for the effects of all dilutive potential equity
 shares, except where the results are anti-dilutive.
 
 1.14. Taxation
 
 Provision for Current tax is made based on the liability computed in
 accordance with the relevant tax rates and provisions of Income Tax
 Act, 1961. Provision for deferred tax is made for timing differences
 arising between the taxable and accounting income computed using the
 tax rates and the laws that have been enacted or substantively enacted
 as of the balance sheet date.
 
 1.15. Interim Financial Reporting
 
 In terms of the Accounting Standard 25 and Clause 41 of the Listing
 Agreement entered with the stock exchanges, the Company published
 interim financial results (limited review) of quarters ended June 2010,
 September 2010, December 2010 and March 2011.
 
 1.16. Impairment of Fixed assets
 
 An Asset is treated as impaired when the carrying amount of assets
 exceeds its recoverable value. An impairment loss is charged to Profit
 & Loss account as an expense immediately, when the asset is identified
 as impaired. The impairment loss recognized in prior accounting period
 is reversed if there has been a change in the estimate of recoverable
 amount based on external and internal sources of information.
 
 1.17. Provisions, contingent liabilities and contingent assets
 
 The Company recognizes a provision when there is a present obligation
 as a result of past obligating event that probably requires an outflow
 of resources and a reliable estimate can be made of the amount of the
 obligation. A disclosure for a contingent liability is made when there
 is a possible obligation or a present obligation that may, but probably
 will not, require an outflow of resources. Where there is a possible
 obligation or a present obligation that the likelihood of outflow of
 resources is remote, no provision or disclosure is made. Contingent
 Assets are neither recognized nor disclosed in the financial
 statements.
 
 1.18. The cost of operating the franchise ''Deccan Chargers'' like
 remuneration to players and support staff, franchise fee, travelling
 and hotel accommodation of team, advertisements, promotions and the
 costs involving sale of merchandise by ''Odyssey'' like purchase of
 books, merchandise, rents, promotional expenses etc., are accounted and
 grouped in respective natural heads of account in accordance with the
 Generally Accepted Accounting Principles