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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

502281

Report Date :

07.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HT MEDIA LIMITED

 

 

Registered Office :

18-20, Kasturba Gandhi Marg, Hindustan Times House, New Delhi – 110001

Tel. No.:

91-11-66561608

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

03.12.2002

 

 

Com. Reg. No.:

55-117874

 

 

Capital Investment / Paid-up Capital :

INR 461.040 Million

 

 

CIN No.:

[Company Identification No.]

L22121DL2002PLC117874

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company publishes 'Hindustan Times', an English daily, and 'Mint', a Business paper daily except on Sunday and undertakes commercial printing jobs. The Company is also engaged into the business of providing entertainment, radio broadcast and all other related activities through its Radio Stations operating under brand name 'Fever 104','Fever' and 'Radio Nasha'. [Registered Activity]

 

 

No. of Employees :

2312 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Maximum Credit Limit :

USD 49000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

HT Media Limited (HTML) a flagship brand of Hindustan Times Limited (HTL) and was incorporated in the year 2002. It is having an excellent track record.


HTML is engaged in the business of providing entertainment, radio broadcasting services.


HTML has its presence in the FM radio space through Fever 104 FM and Radio Nasha and has internet portals such as shine.com, htcampus.com, hindustantimes.com, livemint.com, livehindustantimes.com and desimartini.com.


As per the financial record of 2017 the company has reported a marginal drop by 4.30% in its revenue as compared to its previous year but has maintained fair profit margin during the year.


The ratings factor in a strong financial risk profile because of healthy cash accrual and adequate liquidity.


Rating further takes into account the strong position of the flagship English daily, Hindustan Times (HT), in the National Capital Region (NCR).


The company has its share price trading at around INR 87.55 on BSE as on 5th April 2018 as against its face value of INR 2.


As per the 3rd quarter results of December 2017, the company has achieved revenue of INR 3,753.1 million and has clocked profit margin of approximately 28.33%.


However, these strengths are partially offset by the investment phase of the digital and education businesses, low profitability of HT's Mumbai edition and susceptibility of the operating margin to volatility in newsprint prices and economic downturns.


Payments seems to be regular as per commitment.


In view of aforesaid, the company can be considered for business dealing at usual trade terms and condition.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Non-Convertible Debentures = AA

Rating Explanation

High degree of safety and very low credit risk.

Date

21.12.2017

 

 

Rating Agency Name

CRISIL

Rating

Commercial Paper = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

21.12.2017

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2018.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 07.04.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED

 

Management Non Cooperative (91-11-23361234)

 

Given Number i.e. 91-22-27642009 – Incorrect Number

 

LOCATIONS

 

Registered Office/ Corporate Office :

18-20, Kasturba Gandhi Marg, Hindustan Times House, New Delhi – 110001, India

Tel. No.:

91-11-23361234 / 66561608

Fax No.:

91-11-66561270 / 66561445

E-Mail :

investor@hindustantimes.com

feedback@hindustantimes.com

subscription@hindustantimes.com

Website :

http://www.htmedia.in

 

 

Plant Locations :

·         Plot No. 8, Udyog Vihar, Greater Noida, Gautam Budh Nagar – 201306, Greater Noida, Uttar Pradesh, India

 

·         B - 21, Industrial Focal Point Extension, Jalandhar – 140004, Punjab, India

 

·         Plot No. 6, TTC MIDC Industrial Area, Dighe, Thane-Belapur Road, Navi Mumbai – 400708, Maharashtra, India

 

·         C-164-165, Phase VIII B, Industrial Focal Point, Mohali – 160071, Punjab, India

 

·         B-2, Sector-63, Noida – 201307, Uttar Pradesh, India

 

NOTE: The above locations where printing of the Company’s publications is done on job- work basis.

 

 

DIRECTORS

 

AS ON 2018

 

Name :

Mrs. Shobhana Bhartia

Designation :

Chairperson and Editorial Managing Director

Address :

19, Friends Colony (West), Delhi – 110065, India

Date of Appointment :

03.12.2002

DIN No.:

00020648

 

 

Name :

Mr. Dinesh Mittal

Designation :

Wholetime Director, Group General Counsel

Address :

228, Jagriti Enclave, IIIrd Floor, Delhi – 110092, India

Date of Appointment :

26.05.2016

DIN No.:

00105769

PAN No.:

AAAPM1656Q

 

 

Name :

Mr. Ajay Relan

Designation :

Director

Address :

191, Golf Links, New Delhi – 110003, India

Date of Appointment :

24.08.2009

DIN No.:

00002632

 

 

Name :

Mr. Priyavrat Bhartia

Designation :

Director

Address :

19, Friends Colony (West), Delhi – 110065, India

Date of Appointment :

28.10.2005

DIN No.:

00020603

 

Name :

Mr. Shamit Bhartia

Designation :

Director

Address :

19, Friends Colony (West), Delhi – 110065, India

Date of Appointment :

03.12.2002

DIN No.:

00020623

 

Name :

Mr. Kashi Nath Memani

Designation :

Director

Address :

177C, Western Avenue Lane No. 7, Sainik Farms, New Delhi – 110062, India

Date of Appointment :

05.05.2004

DIN No.:

00020696

 

Name :

Mr. Vikram Singh Mehta

Designation :

Director

Address :

18, Friends Colony (West), Delhi – 110065, India

Date of Appointment :

20.06.2015

DIN No.:

00041197

 

Name :

Mr. Vivek Mehra

Designation :

Additional Director

Address :

B-314, New Friends Colony, New Delhi – 110065, India

Date of Appointment :

12.01.2018

DIN No.:

00101328

 

 

KEY EXECUTIVES

 

Name :

Mr. Rajiv Verma

Designation :

Chief Executive Officer

Address :

S-441, Greater Kailash-II , Delhi – 110048, India

Date of Appointment :

10.03.2016

PAN No.:

AABPV9604J

 

 

Name :

Mr. Piyush Gupta

Designation :

Chief Financial Officer

Address :

G-124, Ashok Vihar, Phase – I, New Delhi – 110052, India

Date of Appointment :

09.05.2014

PAN No.:

AAJPG8665N

 

 

Name :

Mr. Dinesh Mittal

Designation :

Company Secretary

Address :

228, Jagriti Enclave, IIIrd Floor, Delhi – 110092, India

Date of Appointment :

16.11.2006

PAN No.:

AAAPM1656Q

 

 

SHAREHOLDING PATTERN

 

AS ON December 2017

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Promoter & Promoter Group

161777093

69.51

(B) Public

68742931

29.54

(C) Non Promoter-Non Public

2228290

0.96

Grand Total

232748314

100.00

 

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of Shareholder

No. of Shares

Percentage of Holding

A1) Indian

 

0.00

Individuals/Hindu undivided Family

22

0.00

Shobhana Bhartia

20

0.00

Priyavrat Bhartia

1

0.00

Shamit Bhartia

1

0.00

Any Other (specify)

161754490

69.50

The Hindustan Times Limited

161754490

69.50

Sub Total A1

161754512

69.50

A2) Foreign

 

0.00

Any Other (specify)

22581

0.01

Go4i.Com (Mauritius) Limited

22581

0.01

Sub Total A2

22581

0.01

A=A1+A2

161777093

69.51

 

 

Statement showing shareholding pattern of the Public shareholder

 

Category of Shareholder

No. of Shares

Percentage of Holding

B1) Institutions

0

0.00

Mutual Funds/

18547487

7.97

ICICI Prudential Mutual Fund - Through Various Schemes of Mutual Funds

3293066

1.41

Reliance Mutual Fund - Through Various Schemes of Mutual Funds

4167494

1.79

Franklin Templeton Mutual Fund A/C Franklin India Prima Plus -Through Various Schemes of Mutual Funds

11086927

4.76

Alternate Investment Funds

905227

0.39

Foreign Portfolio Investors

18685518

8.03

Government Pension Fund Global

6960000

2.99

Financial Institutions/ Banks

244458

0.11

Insurance Companies

5665000

2.43

ICICI Lombard General Insurance Company Limited

5665000

2.43

Sub Total B1

44047690

18.93

B2) Central Government/ State Government(s)/ President of India

0

0.00

B3) Non-Institutions

0

0.00

Individual share capital upto INR 0.200 Million

11144033

4.79

Individual share capital in excess of INR 0.200 Million

5890103

2.53

NBFCs registered with RBI

2100

0.00

Any Other (specify)

7659005

3.29

Trusts

1140

0.00

NRI

464290

0.20

Clearing Members

756609

0.33

NRI – Non- Repat

1268746

0.55

Bodies Corporate

5159770

2.22

IEPF

8450

0.00

Sub Total B3

24695241

10.61

B=B1+B2+B3

68742931

29.54

 

 

Stement showing shareholding pattern of the Non Promoter- Non Public shareholder

 

Category of Shareholder

No. of Shares

Percentage of Holding

C1) Custodian/DR Holder

0

0.00

C2) Employee Benefit Trust

0

0.00

Employee Benefit Trust

2228290

0.96

Sub Total C2

2228290

0.96

C= C1+C2

2228290

0.96

 

 

BUSINESS DETAILS

 

Line of Business :

The Company publishes 'Hindustan Times', an English daily, and 'Mint', a Business paper daily except on Sunday and undertakes commercial printing jobs. The Company is also engaged into the business of providing entertainment, radio broadcast and all other related activities through its Radio Stations operating under brand name 'Fever 104','Fever' and 'Radio Nasha'. [Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code

Printing and publishing of Newspapers

181 & 581

FM Radio Broadcasting

601

Digital

631

Education

853 & 854

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

Customers :

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

No. of Employees :

2312 (Approximately)

 

 

Bankers :

Banker Name :

Deutsche Bank AG

Branch :

ECE House 28, Kasturba Gandhi Marg, New Delhi – 110001, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

PARTICULARS 

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

Foreign Currency Non- Repatriable (FCNR) Loan from Citi Bank

170.218

289.844

External Commercial Borrowing from Citi Bank

0.000

103.516

 

 

 

SHORT TERM BORROWINGS

 

 

Foreign Currency Non- Repatriable (FCNR) Loan from Citi Bank

113.479

115.938

External Commercial Borrowing from Citi Bank

101.320

207.031

Buyer's credit from Bank of Tokyo and Mitshubishi

753.100

535.930

Buyer's credit from Citi Bank

0.000

218.115

Buyer's credit from DBS Bank

247.635

1405.056

Buyer's credit from Yes Bank

0.000

126.676

Buyer's credit from Deutsche Bank

0.000

163.300

Bank overdraft from Citi Bank

103.026

152.400

Commercial Papers from HDFC Bank

3700.000

3150.000

Commercial Papers from ICICI Bank

0.000

1850.000

Commercial Papers – Reliance Capital Trust

0.000

850.000

Commercial Papers from TATA MF

2550.000

0.000

Commercial Papers from UTI MF

1000.000

0.000

Commercial Papers from LIC MF

1350.000

0.000

Less: Amount clubbed under ‘other current financial liabilities’

(214.799)

(322.969)

 

 

 

Total

9873.979

8844.837

 

 

Auditors :

 

Name :

S R Batliboi and Company

Chartered Accountant

Address :

Golf View Corporate Tower-B, Sector-42, Sector Road, Gurgaon – 122022, Haryana, India

Tel. No.:

91-124-4644000

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Parties having direct or indirect control over the Company (Holding Company):

·         Earthstone Holding(Two) Limited*

·         The Hindustan Times Limited

 

(*Earthstone Holding (Two) Limited is the holding Company of The Hindustan Times Limited.)

 

 

Subsidiaries:

·         Hindustan Media Ventures Limited

·         HT Music and Entertainment Company Limited

·         Firefly e- Ventures Limited

·         HT Digital Media Holdings Limited

·         HT Mobile Solutions Limited

·         HT Overseas Pte. Limited

·         HT Education Limited

·         HT Learning Centers Limited

·         HT Global Education

·         HT Digital Information Private Limited (Formerly ED World Private Limited)

·         HT Digital Streams Limited

·         Topmovies Entertainment Limited

 

 

Joint Venture :

·         India Education Services Private Limited

 

 

Entities which are post-employment benefits plans :

·         HT Media Limited Working Journalist Gratuity Fund

·         HT Media Limited Non Journalist and Other Employees Gratuity Fund

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

362500000

Equity Shares

INR 2/- each

INR 725.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

232748314

Equity Shares

INR 2/- each

INR 465.497 Million

 

 

 

 

 

Reconciliation of the equity shares beginning and at the end of the year:

 

Equity Shares

Number of Shares

Amount

Shares outstanding at the beginning of the year

230520024

461.040

Shares issued during the year

--

--

Shares bought back during the year

--

--

Less: Adjustment on account of Equity shares held by HT Media Employee welfare Trust

--

--

Shares outstanding at the end of the year

230520024

461.040

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

461.040

461.040

461.040

(b) Reserves & Surplus

16522.649

15575.696

14553.654

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

16983.689

16036.736

15014.694

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

170.218

393.360

675.727

(b) Deferred tax liabilities (Net)

374.951

267.214

304.495

(c) Trade payables

0.000

0.000

15.658

(d) Other long term liabilities

179.902

178.292

35.525

(e) long-term provisions

11.937

14.690

12.616

Total Non-current Liabilities (3)

737.008

853.556

1044.021

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

9703.761

8451.477

1780.873

(b) Trade payables

3026.973

3223.831

3687.054

(c) Other current liabilities

3870.474

3409.119

3298.668

(d) Short-term provisions

229.730

348.718

329.143

Total Current Liabilities (4)

16830.938

15433.145

9095.738

 

 

 

 

TOTAL

34551.635

32323.437

25154.453

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4245.316

4754.720

4685.847

(ii) Intangible Assets

4374.682

2919.615

305.120

(iii) Capital work-in-progress

325.249

248.697

314.089

(iv) Intangible assets under development

6.048

84.013

55.713

(v) Investment property

3356.891

3059.249

0.000

(vi) Investment in subsidiaries

3202.028

1923.423

0.000

(b) Non-current Investments

11681.847

6362.928

9383.439

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

344.531

341.732

1013.225

(e) Other Non-current assets

1047.912

2597.818

959.786

Total Non-Current Assets

28584.504

22292.195

16717.219

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

1659.776

5177.369

1170.632

(b) Inventories

1079.137

1139.862

1088.562

(c) Trade receivables

1770.508

2415.655

1965.212

(d) Cash and cash equivalents

659.017

838.181

1159.176

(e) Short-term loans and advances

169.671

0.000

2760.140

(f) Other current assets

629.022

460.175

293.512

Total Current Assets

5967.131

10031.242

8437.234

 

 

 

 

TOTAL

34551.635

32323.437

25154.453

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Income

14320.423

14988.455

14528.191

 

 

Other Income

1568.897

1057.775

1219.285

 

 

TOTAL                                               

15889.320

16046.230

15747.476

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

3515.082

3813.304

4047.717

 

 

(Increase)/decrease in inventories

0.471

0.074

-0.387

 

 

Employee Benefits Expenses

3279.504

3339.808

3479.488

 

 

Exceptional items

0.000

(210.400)

166.923

 

 

Other Expenses

6690.791

5769.196

5738.737

 

 

TOTAL                                    

13485.848

12711.982

13432.478

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

2403.472

3334.248

2314.998

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

786.840

509.816

360.302

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

1616.632

2824.432

1954.696

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

974.679

708.888

716.665

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

641.953

2115.544

1238.031

 

 

 

 

 

Less

TAX                                                                 

26.890

628.685

101.425

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

615.063

1486.859

1136.606

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F.O.B. Value of Exports

NA

NA

795.846

 

TOTAL EARNINGS

NA

NA

795.846

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

NA

2178.485

 

 

Components and Stores parts

NA

NA

41.218

 

 

Capital Goods

NA

NA

49.212

 

TOTAL IMPORTS

NA

NA

2268.915

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2.64

4.02

4.88

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

214.799

322.969

249.980

Cash from operations

2008.624

1631.991

3113.926

Net cash flow from operating activities

1912.095

1377.237

2912.283

 

 

QUARTERLY RESULTS

 

Particulars

 

30.06.2017

(Unaudited)

30.09.2017

(Unaudited)

31.12.2017

(Unaudited)

 

1st Quarter

2nd Quarter

3rd Quarter

Net sales

3413.900

3285.600

3753.100

Total Expenditure

3113.000

2685.200

3014.400

PBIDT (Excluding Other Income)

300.900

600.400

738.700

Other income

367.300

382.600

672.200

Operating Profit

668.200

983.000

1410.900

Interest

168.400

167.900

164.000

Exceptional Items

NA

(80.000)

NA

PBDT

499.800

735.100

1246.900

Depreciation

252.300

250.800

241.200

Profit Before Tax

247.500

484.300

1005.700

Tax

62.100

99.000

-55.700

Provisions and contingencies

NA

NA

NA

Profit after tax

185.400

385.300

1061.400

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

185.400

385.300

1061.400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

45.13

58.83

49.37

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

8.09

6.20

7.39

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

314.32

308.58

332.48

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

2.23

2.93

2.13

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.27

0.42

0.43

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.50

0.50

0.40

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.59

0.57

0.18

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.99

0.96

0.61

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.53

0.50

0.36

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

3.05

6.54

6.43

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

PAT to Sales

((PAT / Sales) * 100)

%

4.30

9.92

7.82

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

1.78

4.60

4.52

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

3.62

9.27

7.57

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.35

0.65

0.93

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.29

0.58

0.81

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.49

0.50

0.60

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

21.88

19.89

5.87

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.35

0.65

0.93

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 2.00/-

Market Value

INR 87.55/-

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

461.040

461.040

461.040

Reserves & Surplus

14553.654

15575.696

16522.649

Net worth

15014.694

16036.736

16983.689

 

 

 

 

Long-Term Borrowings

675.727

393.360

170.218

Short Term Borrowings

1780.873

8451.477

9703.761

Current Maturities of Long term debt

249.980

322.969

214.799

Total borrowings

2706.580

9167.806

10088.778

Debt/Equity ratio

0.180

0.572

0.594

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

14528.191

14988.455

14320.423

 

 

3.168

(4.457)

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

14528.191

14988.455

14320.423

Profit

1136.606

1486.859

615.063

 

7.82%

9.92%

4.30%

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

461.040

461.040

(b) Reserves & Surplus

 

21857.862

20356.461

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Non-controlling interest

 

3000.082

2342.856

Total Shareholders’ Funds (1) + (2)

 

25318.984

23160.357

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

170.218

393.360

(b) Deferred tax liabilities (Net)

 

407.470

213.431

(c) Other long term liabilities

 

183.529

179.376

(d) long-term provisions

 

17.699

23.017

Total Non-current Liabilities (3)

 

778.916

809.184

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

10874.253

10178.918

(b) Trade payables

 

4025.902

4282.181

(c) Other current liabilities

 

4657.444

4387.409

(d) Short-term provisions

 

301.313

394.996

Total Current Liabilities (4)

 

19858.912

19243.504

 

 

 

 

TOTAL

 

45956.812

43213.045

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

6094.747

6695.395

(ii) Intangible Assets

 

4573.059

3130.900

(iii) Capital work-in-progress

 

356.983

264.072

(iv) Intangible assets under development

 

15.092

94.425

(v) Investment property

 

3418.815

3091.825

(vi) Investment in joint ventures (equity)

 

22.863

108.848

(vii) Goodwill on consolidation

 

252.927

54.366

(b) Non-current Investments

 

19853.229

11700.952

(c) Deferred tax assets (net)

 

38.150

0.000

(d)  Long-term Loan and Advances

 

354.088

346.217

(e) Other Non-current assets

 

1205.391

2688.342

Total Non-Current Assets

 

36185.344

28175.342

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

2758.224

7309.176

(b) Inventories

 

1546.286

1616.298

(c) Trade receivables

 

3255.630

3722.451

(d) Cash and cash equivalents

 

1395.483

1666.498

(e) Short-term loans and advances

 

172.612

0.005

(f) Other current assets

 

643.233

723.275

Total Current Assets

 

9771.468

15037.703

 

 

 

 

TOTAL

 

45956.812

43213.045

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

24520.936

25015.126

 

Other Income

 

2294.611

1561.864

 

TOTAL

 

26815.547

26576.990

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

6964.806

7229.534

 

(Increase)/decrease in inventories

 

(1.030)

(0.059)

 

Employees benefits expense

 

5835.284

5486.933

 

Other expenses

 

8738.835

9071.439

 

TOTAL

 

21537.895

21787.847

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

5277.652

4789.143

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

951.234

626.408

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

4326.418

4162.735

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

1247.591

1022.247

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

3078.827

3140.488

 

 

 

 

 

Less

TAX

 

671.439

803.423

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

2407.388

2337.065

 

 

 

 

 

Less/ Add

SHARE OF PROFIT/(LOSS) OF JOINT VENTURE

 

217.285

142.881

 

 

 

 

 

 

PROFIT/ (LOSS) FOR THE YEAR

 

2190.103

2194.184

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

7.31

7.45

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

No

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

CORPORATE INFORMATION

 

The Company is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on the National stock exchange (NSE) and Bombay stock exchange (BSE). The Company publishes 'Hindustan Times', an English daily, and 'Mint', a Business paper daily except on Sunday and undertakes commercial printing jobs. The Company is also engaged into the business of providing entertainment, radio broadcast and all other related activities through its Radio Stations operating under brand name 'Fever 104','Fever' and 'Radio Nasha'. The digital business of the Company comprises of various online platforms such as 'shine.com' etc. The registered office of the Company is located at '18-20, K.G. Marg, New Delhi-110001.

 

The Company derives revenue primarily from the sale of the above mentioned publications, advertisements published therein, by undertaking printing jobs and airtime advertisements aired at the aforesaid radio stations. Internet business also contributes to the Company's revenue, by way of display of advisements on these websites.

 

 

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2017

 (INR In Million)

Particulars

Quarter ended

Nine Months ended

 

31.12.2017

30.09.2017

31.12.2017

 

Unaudited

INCOME FROM OPERATIONS

 

 

 

Net Sales

3753.100

3285.600

10452.600

Other Operating Income

672.200

382.600

1422.100

Total Income from Operations

4425.300

3668.200

11874.700

 

 

 

 

EXPENSES

 

 

 

Cost of Materials Consumed

794.200

737.500

2248.600

(Increase)/decrease in inventories

(0.500)

(0.200)

(2.000)

Employee benefits expense

660.700

598.400

1915.400

Finance Costs

164.000

167.900

500.300

Depreciation and Amortization expenses

241.200

250.800

744.300

Other Expenditure

1560.000

1349.500

4650.600

Total Expenses

3419.600

3103.900

10057.200

Profit / (Loss) from ordinary activities before Exceptional items

1005.700

564.300

1817.500

Exceptional items

0.000

(80.000)

(80.000)

Profit / (Loss) before Tax

1005.700

484.300

1737.500

Tax Expense

(55.700)

99.000

105.400

Profit / (Loss) after Tax

1061.400

385.300

1632.100

Other Comprehensive Income

 

 

 

-         Items that will not be reclassified to profit or loss

1.700

7.100

4.400

Total Comprehensive Income

1063.100

392.400

1636.500

Paid-up Equity Share Capital (Face value INR 2/- per share)

465.500

465.500

465.500

Reserves (excluding Revaluation Reserve)

 

 

 

Earnings per Share (EPS) - INR

4.56

1.66

7.01

 

NOTES:

 

1.     The above un-audited financial results for the quarter and nine months period ended December 31, 2017 have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held on January 12, 2018. The Statutory Auditors have conducted a "Limited Review" of these results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

 

2.     The Company has adopted Indian Accounting Standards ("Ind-AS") effective April 1, 2016 (transition date being April 1, 2015) prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. Accordingly, the financial results for all the periods have been prepared in accordance with the recognition and measurement principles stated therein.

 

3.     During the previous year, pursuant to a Scheme of Arrangement u/s 391-394 of the Companies Act, 1956 between the Company and HT Digital Streams Limited (HTDSL) and their respective shareholders & creditors (the Scheme), the Multi-media Content Management Undertaking of the Company ('MMCM Undertaking') was transferred and vested to and in HTDSL, as a 'going concern' on slump exchange basis, with effect from closing hours of March 31, 2016 ('Appointed Date'). The Scheme became effective from December 31, 2016 (closing hours) ('Effective Date').

 

The entire impact of transfer of MMCM Undertaking from the appointed date was taken in the quarter ended December 31, 2016. Accordingly, the financial results for quarter ended December 31, 2017 are not comparable with corresponding results for the quarter ended December 31, 2016.

 

4.     The Board of Directors of the Company at its meeting held on August 25, 2017, approved a Scheme of Arrangement u/s 230-232 read with Section 66 of the Companies Act, 2013, between the Company and Digicontent Limited, a wholly owned subsidiary company(formerly HT Digital Ventures Limited) (Resulting Company) and their respective shareholders and creditors ("Scheme") for demerger of Entertainment & Digital Innovation Business of the Company, and transfer and vesting thereof to and in the Resulting Company, as a 'going concern1. In consideration of the proposed demerger, the Scheme also provides for issue of fully paid-up equity shares by the Resulting Company, to the shareholders of the Company.

 

During the quarter, NSE and BSE have given their 'No-objection' to the Scheme as per Regulation 37 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Scheme is subject to approval of shareholders of the respective companies, and sanction by the Hon'ble National Company Law Tribunal and such other statutory authorities, as may be required. Pending the above approval(s), impact of the Scheme is not considered in above results.

 

5.     Other Income includes INR 311.600 million recognized as gain on sale of Land & Building.

 

6.     The Company has three reportable Operating Segments namely Printing and Publishing of Newspaper and Periodicals, Radio Broadcast and Entertainment and Digital as per Ind AS 108- Operating Segments. The financial information for these segments has been provided in Consolidated Financial Results as per Ind AS 108- Operating Segments.

 

7.     Employee Stock Option details of the Company for the quarter ended December 31, 2017 are as follows:

i) HTML Employee Stock Option Scheme - 2009, No options were granted, vested, exercised or forfeited.
ii) HTML Employee Stock Option Scheme - 2005, Plan A - No options were granted, vested, exercised or forfeited. Plan B - No options were granted, vested, exercised or forfeited.

 

8.     During the quarter, the Company made investment of INR 700 Lakhs in Equity Shares of HT Learning Centers Limited (a subsidiary company) and these shares are yet to be allotted.

 

9.     Tax expense for the quarter and nine months period ended December 31, 2017 is net of tax reversal of INR 227.900 million arising from finalisation of return for the previous year.

 

10.  The certificate of CEO and CFO in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of the above results has been placed before the Board of Directors.

 

 

INDEX OF CHARGES:

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G59617563

100080872

DEUTSCHE BANK AG

15/02/2017

23/10/2017

-

1300000000.0

ECE HOUSE28, KASTURBA GANDHI MARG,NEW DELHIDL110001IN

2

C21241534

10521726

CITI BANK N.A.

28/07/2014

-

-

420000000.0

JEEVAN BHARTI BUILDING, 4TH FLOOR TOWER 1, 124CONNAUGHT CIRCUS, NEW DELHI-110001NEW DELHIDL110001IN

3

C74996224

10325628

HDFC BANK LIMITED

19/11/2011

29/12/2015

-

500000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400033IN

4

B69409076

10268169

KOTAK MAHINDRA BANK LIMITED

29/12/2010

05/02/2013

-

300000000.0

7TH FLOOR, AMBADEEP BUILDING14, K. G. MARG, CONNAUGHT PLACENEW DELHIDL110001IN

5

C75740571

10262657

BNP PARIBAS

29/11/2010

21/12/2015

-

750000000.0

EAST TOWER (SOOD TOWER),8TH FLOOR,25 BARAKHAMABA ROAD,NEW DELHIDL110001IN

6

C32956906

80036374

CENTRAL BANK OF INDIA

02/12/2003

16/10/2014

-

50000000.0

PARLIAMENT STREET, JEEVAN TARA BUILDINGNEW DELHI 110 001NEW DELHIDL110001IN

7

G48880090

10361536

CITI BANK N.A.

18/06/2012

25/10/2016

04/07/2017

687500000.0

JEEVAN BHARTI BUILDING4TH FLOOR, PARLIAMENT STREETNEW DELHIDL110001IN

8

C55421283

90039637

THE ROYAL BANK OF SCOTLAND N. V.

18/12/2004

20/05/2011

08/06/2015

350000000.0

HANSALYA BUILDING15 BARAKHAMBA ROADNEW DELHIDL110001IN

9

C11084001

10094301

STANDARD CHARTERED BANK

26/03/2008

18/03/2011

26/06/2014

700000000.0

CREDIT RISK CONTROL,NARAIN MANZIL, 23 BARAKHAMBA ROADNEW DELHIDL110001IN

10

C10649945

10160808

HDFC BANK LIMITED

26/05/2009

18/06/2010

24/06/2014

1000000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

 

 

FIXED ASSETS:

 

Tangible Assets

·         Leasehold Land

·         Buildings

·         Improvement to Leasehold Premises

·         Plant and Machinery

·         Office Equipments

·         Furniture and Fixtures

·         Vehicles

 

Intangible Assets

·         Website Development

·         Software Licenses

·         License Fees

·         Software for Radio Business

·         Music Contents

 

 

PRESS RELEASE:

 

HT MEDIA TO INVEST IN SOCIAL COMMERCE PLATFORM SAGOON

 

14 March, 2018

HT Media Ltd has agreed to invest $5 million (INR 324.000 million) in US-based social commerce platform Sagoon Inc.

The media company will provide market visibility to Sagoon, which offers users a chance to make money while socialising, through its print, radio and digital properties, according to a press release.

HT Media’s publications include English newspapers Hindustan Times and Mint, and Hindi daily Hindustan. It also has several digital properties and FM radio stations.

The media company is investing in Sagoon through Singapore unit HT Overseas Pte. Limited.

“The reach of Hindustan Times will enable us to further connect with a large market of Indian internet users, which is second largest in the world,” said Govinda Giri, founder and CEO of Sagoon.

Previously, Sagoon has raised around $3.4 million from more than 3,000 investors. In 2016, the company had raised $1.4 million through private investors, according to the release.

Sagoon has offices in Faridabad, India and Kathmandu, Nepal.

HT Media has invested in several companies in recent years, either through ad-for-equity deals or otherwise.

In February, HT Media agreed to invest up to CAD$10 million (INR 510.000 million) in Canadian education firm betterU.

In January, the company received board approval to invest up to INR 219.000  million in luxury real estate brokerage firm RealPro Realty Solutions Private Limited.

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 64.99

UK Pound

1

INR 90.96

Euro

1

INR 79.51

 

 

INFORMATION DETAILS

 

Information Gathered by :

AKY

 

 

Analysis Done by :

NIS

 

 

Report Prepared by :

NKT

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.