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HT Media Ltd.

BSE: 532662 | NSE: HTMEDIA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE501G01024 | SECTOR: Media & Entertainment

BSE Live

Apr 09, 14:19
10.70 0.10 (0.94%)
Volume
AVERAGE VOLUME
5-Day
17,376
10-Day
16,212
30-Day
58,945
3,573
  • Prev. Close

    10.60

  • Open Price

    10.95

  • Bid Price (Qty.)

    10.55 (98)

  • Offer Price (Qty.)

    10.70 (102)

NSE Live

Apr 09, 14:21
10.65 0.05 (0.47%)
Volume
AVERAGE VOLUME
5-Day
85,879
10-Day
114,459
30-Day
142,645
67,171
  • Prev. Close

    10.60

  • Open Price

    10.60

  • Bid Price (Qty.)

    10.60 (2194)

  • Offer Price (Qty.)

    10.65 (37229)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

We have audited the accompanying financial statements of HT Media Limited (the Company), which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India, including the Accounting Standards notified under the Companies Act, 1956, read with General Circular 8/2014 dated 4 April 2014 issued by the Ministry of Corporate Affairs. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entity''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Companies Act, 1956 (the Act) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014; (b) in the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and (c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) Order, 2003 (the Order) issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required by section 227(3) of the Act, we report that: (a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit; (b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books; (c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account; (d) In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards notified under the Companies Act, 1956, read with General Circular 8/2014 dated April 4, 2014 issued by the Ministry of Corporate Affairs; (e) On the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub- section (1) of section 274 of the Companies Act, 1956. Other Matter We did not audit the total assets of Rs.9.65 lacs as at March 31, 2014, total revenues of Rs.Nil and net cash outflows amounting to Rs.1.04 lacs for the year then ended, included in the accompanying financial statements in respect of HT Media Employee Welfare Trust (''Trust'') not audited by us, whose financial statements and other financial information has been audited by other auditors and whose reports have been furnished to us. Our opinion, in so far as it relates to the affairs of the trust is based solely on report of other auditors. Our opinion is not qualified in respect of this matter. We did not audit the total assets of Rs.165.68 lacs as at March 31, 2104, total revenues of Rs.181.92 lacs and net cash inflows amounting to Rs.36.03 lacs for the year then ended, included in the accompanying financial statements in respect of a branch of the Company not visited by us, whose financial statements and other financial information has been audited by other auditors and whose reports have been furnished to us. Our opinion, in so far as it relates to the affairs of such branch is based solely on report of other auditors. Our opinion is not qualified in respect of this matter. Annexure to the Auditors'' Report referred to in paragraph [1] of Report on Other Legal and Regulatory Requirements in our report of even date Re: HT Media Limited (''the Company'') (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) Fixed assets have not been physically verifed by the management during the year pursuant to the physical verifcation programme which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. (c) There was no disposal of a substantial part of fixed assets during the year. (ii) (a) The management has conducted physical verifcation of inventory at reasonable intervals during the year. (b) The procedures of physical verifcation of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. (c) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verifcation. (iii) (a) The Company has granted loans to four companies covered in the register maintained under section 301 of the Companies Act,1956. The maximum amount involved during the year was Rs.12,381 lacs and the year-end balance of loans granted to such parties was Rs.2,332 lacs. (b) In our opinion and according to the information and explanations given to us, the rate of interest and other terms and conditions for such loans are not prima facie prejudicial to the interest of the Company. (c) In respect of loans granted, repayment of the principal amount is as stipulated and payment of interest has been regular. (d) There is no overdue amount of loans granted to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. (e) According to information and explanations given to us, the Company has not taken any loans, secured or unsecured, from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, the provisions of clause 4(iii)(e) to (g) of the Order are not applicable to the Company and hence not commented upon. (iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of our audit, we have not observed any major weakness or continuing failure to correct any major weakness in the internal control system of the company in respect of these areas. (v) According to the information and explanations provided by the management, we are of the opinion that the particulars of contracts or arrangements referred to in section 301 of the Companies Act, 1956 that need to be entered into the register maintained under section 301 have been so entered. (vi) The Company has not accepted any deposits from the public. (vii) In our opinion, the Company has an internal audit system commensurate with the size of the Company and nature of its business. (viii) We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under section 209(1)(d) of the Companies Act, 1956, related to the printing of newspaper, catalogues, books, magazines, etc., and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. We have not, however, made a detailed examination of the same. (ix) (a) Undisputed statutory dues including provident fund, investor education and protection fund, employees'' state insurance, income-tax, sales-tax, wealth-tax, service tax, customs duty, cess have generally been regularly deposited with the appropriate authorities. The provisions relating to excise duty are not applicable to the Company. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, investor education and protection fund, employees'' state insurance, income-tax, wealth-tax, service tax, sales-tax, customs duty, cess and other material statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable. (c) According to the information and explanation given to us, there are no dues of income tax, sales-tax, wealth tax, service tax, customs duty and cess which have not been deposited on account of any dispute except for income tax and service tax as below. Name of the Natute Amount Period to Forum where Stature of Dues in Lacs Which the dispute is amount Relates Pending Income Income 371.86 AY Commissioner Tax Act, Tax 2011-12 of Income Tax 1961 Demand (Appeals) Finance Service 316.67 FY 2005- Customs, Act,1994 Tax 06 to Excise and Demand 2009- Service Tax 10 and Appellate 2011-12 Tribunal (x) The Company has no accumulated losses at the end of the financial year and it has not incurred cash loss in the current and immediately preceding financial year. (xi) Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to banks. The Company has no outstanding dues in respect of debentures of financial institution. (xii) According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Order are not applicable to the Company. (xiv) In our opinion, the Company is not dealing or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Order are not applicable to the Company. (xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bank or financial institutions. (xvi) Based on the information and explanations given to us by the management, term loans were applied for the purpose for which the loans were obtained. (xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term investment. (xviii) The Company has not made any preferential allotment of shares during the year to parties or companies covered in the register maintained under section 301 of the Companies Act, 1956. (xix) The Company did not have any outstanding debentures during the year. (xx) The Company has not raised any money through a public issue during the year. (xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the year. For S.R. Batliboi & CO. LLP Chartered Accountants ICAI Firm Registration Number: 301003E per Manoj Gupta Partner Membership Number: 83906 Place of Signature: New Delhi Date: May 9, 2014