1.  Accounting Convention
 
 The financial statements are prepared to comply in all material respects
 with notified accounting standards by the Companies (Accounting
 Standards) Rules, 2006, the relevant provisions of the Companies Act,
 1956 and guidelines issued by the Securities and Exchange Board of
 India (SEBI), to reflect the financial position and the results of
 operations of the Group. Accounting policies have been consistently
 applied, except where a newly issued accounting standard or a revision
 to an existing accounting standard requires a change in the accounting
 policy hitherto in use or to the extent disclosed in this schedule.
 
 2.  Fixed Assets and Depreciation
 
 a) Fixed Assets are recorded by the Company at the cost of acquisition
 or construction afiter considering the grants received and depreciated
 on Written-Down Value basis, at the rates prescribed in Schedule-XIV to
 the Companies Act, 1956.
 
 b) Assets individually costing less than Rs. 5000 each are fully
 depreciated in the year of acquisition. In respect of assets acquired,
 sold or discarded during the year, depreciation is provided on pro-rata
 basis for the period during which each asset was in use.
 
 c) Depreciation is provided on composite cost of Land and Building
 wherever cost of Land is not separately available. In these cases, the
 said composite cost is capitalised under Building.
 
 d) Title Dainik Jagran has an indefinite life and therefore not
 amortized. (Also refer Note 5 of Schedule 20B)
 
 e) Leasehold land and Leasehold improvements are amortised on a
 straight-line basis over the total period of lease including renewals.
 
 3.  Investments
 
 Long term investments are stated at cost of acquisition inclusive of
 expenditure incidental to acquisition. A provision for diminution is
 made to recognise a decline, other than temporary in the value of long
 term investments.
 
 Current investments are stated at lower of cost and fair value
 determined on an individual basis.
 
 4.  Inventories
 
 Inventories are valued at cost or net realisable value, whichever is
 lower. Cost of raw materials and stores is determined on
 first-in-first-out basis and cost of fnished goods is determined on
 direct cost basis.
 
 5.  Foreign Currency Transactions
 
 Exchange differences arising on the settlement of monetary items at
 rates different from those at which they were initially recorded during
 the year, or reported in the previous financial statements, are
 recognized as income or as expense in the year in which they arise.
 Gain or loss on transactions relating to acquisition of Fixed Assets in
 foreign currency is recognised as profit or loss in the profit and Loss
 Account and adjusted to the corresponding liability. Non-monetary items
 other than Fixed Assets are carried at fair value or other similar
 values using exchange rates when values were determined. Foreign
 Currency Monetary Items outstanding as at Balance Sheet date are valued
 using the conversion rate prevailing as at Balance Sheet date. The
 company does not have any derivative transactions.
 
 6.  Revenue Recognition
 
 Revenues are recognized to the extent that it is probable that economic
 benefit will flow to the company and revenue can be reliably measured.
 It is accounted for net of trade discounts.
 
 specifically the following bases are adopted in respect of various
 sources of revenues of the company:-
 
 a) Advertisement
 
 Revenue from advertisement space is recognized, as and when the
 relevant advertisement is published.
 
 Revenue/Expense against all Barter-Contracts is recognised at the time
 of actual performance of the contract to the extent of performance
 completed by either party against its part of contract.
 
 b) Sale of Publications
 
 Revenue from sale is recognised on dispatch, net of credits for unsold
 copies.
 
 c) Others
 
 Revenue from printing job work is recognised on delivery of goods afiter
 completion as set out in the relevant contracts.
 
 Revenue from Outdoor activities is recognised as and when the relevant
 advertisement is displayed.
 
 Revenue from Event Management services is recognised when the event is
 completed.
 
 Claims from insurance companies/ Interest on income tax refunds/
 Government department are recognised as and when amount receivable can
 be reasonably determined.
 
 Interest income is recognised on a time proportion basis taking into
 account the amount outstanding and the rate applicable.
 
 Dividend income is recognised if the right to receive payment is
 established by the Balance Sheet date.
 
 7.  Employee benefits
 
 Short term employee benefits are recognised in the period during which
 the services have been rendered. The Company’s contribution to Employee
 Provident Fund, Employee’s State Insurance Fund and Employee’s Pension
 Scheme 1995 is charged to revenue.
 
 The Company has defined benefit plans namely leave encashment and
 gratuity for all employees, the liability for which is determined on
 the basis of an actuarial valuation at the end of the year. Gratuity
 Fund is recognised by the income tax authorities and is administered
 and managed by the Life Insurance Corporation of India (LIC).
 
 Termination benefits are recognised as an expense immediately.
 Actuarial gains and losses comprise experience adjustments and the
 effects of changes in actuarial assumptions and are recognised
 immediately in the profit and Loss Account as income or expense.
 
 8.  Taxation
 
 a) Tax expense comprises current tax and deferred tax.
 
 b) Current tax comprises Company’s tax liability for the current
 financial year as well as additional tax paid, if any, during the year
 in respect of earlier years on receipt of demand from the authorities.
 For computation of taxable income under the Income Tax Act, 1961, cash
 basis of accounting has been adopted and consistently followed by the
 Company.
 
 c) Deferred tax assets and liabilities are computed on the timing
 differences at the Balance Sheet date using the tax rate and tax laws
 that have been enacted or substantially enacted by the Balance sheet
 date. Deferred tax assets are recognised based on management estimates
 of reasonable certainty that sufficient taxable income will be available
 against which such deferred tax assets can be realised. Unrecognised
 deferred tax assets of earlier years are re-assessed and recognised to
 the extent that it has become reasonably certain that future taxable
 income will be available against which such deferred tax assets can be
 realised.
 
 9.  Lease
 
 Assets acquired under finance leases are recognised as fixed assets.
 Liability is recognised at the lower of the fair value of the leased
 assets at inception of the lease and the present value of minimum lease
 payments. Lease payments are apportioned between the finance charge and
 the reduction of the outstanding liability. The finance charge is
 allocated over the lease term so as to produce a constant periodic rate
 of interest on the remaining balance of the liability and charge to the
 profit and loss account.
 
 Payments made under operating leases are charged to profit and Loss
 Account on a straight line basis over the period of the lease.
 
 In case of non-cancellable operating leases, the total rent payable
 including future escalations till the expiry of lease is charged
 equally to profit and loss account over the period of lease including
 renewals.
 
 10.  Impairment of Assets
 
 At each balance sheet date, the Company reviews the carrying amounts of
 its fixed assets to determine whether there is any indication that those
 assets suffered an impairment loss. If any such indication exists, the
 impairment loss is recognised for the amount by which the assets
 carrying value exceeds its recoverable amount.  Recoverable amount is
 the higher of an asset’s net selling price and value in use. In
 assessing value in use, the estimated future cash flows expected from
 the continuing use of the asset and from its disposal are discounted to
 their present value using a pre-tax discount rate that reflects the
 current market assessments of time value of money and the risks specific
 to the asset.
 
 11.  Provisions and Contingent Liability
 
 a) The Company creates a provision when there is a present obligation
 as a result of past event that probably requires an outflow of resources
 and a reliable estimate can be made of the amount of obligation.
 
 b) A disclosure for a contingent liability is made when there is a
 possible obligation or a present obligation that probably will not
 require an outflow of resources or where a reliable estimate of the
 obligation can not be made.
 
 12.  Earnings Per Share
 
 Earnings Per Share (EPS) are computed on the basis of net profit afiter
 tax for the year. The number of shares used in computing basic EPS is
 weighted average number of shares outstanding during the year.
 
 The diluted EPS is calculated on the same basis as basic EPS, since
 there are no dilutive equity shares.
 
 13.  Segment Information
 
 The Company is engaged primarily in printing and publication of
 Newspaper and Magazines in India. The other activities of the company
 comprise outdoor advertising business, event management services and
 digital business. However, these in the context of the Accounting
 Standard 17 on Segment Reporting prescribed by the Companies
 (Accounting Standards) Rules, 2006 are considered to constitute single
 reportable business segment and single geographic segment. Accordingly,
 no separate disclosure for primary or secondary segments is given.
 
 14.  Cash Flow Statement
 
 Cash flows are reported using the indirect method, whereby net profit
 before tax is adjusted for the effects of transactions of non- cash
 nature. The cash flows from operating, investing and financing activities
 of the Company are segregated.
 
 15.  Borrowing Cost
 
 Borrowing cost attributable to the acquisition or construction of fixed
 assets which takes substantial period of time to get ready for its
 intended use is capitalised as part of the cost of that asset. Other
 borrowing costs are recognized as an expense in the year in which they
 are incurred.