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Annual Report 2010-11
Financial Statements2
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Contents
Board of Directors 3
Performance Indicators 4
Revenues
EBITDA
Expense & EBITDA to Total Revenue
Revenues from Operations
Aards of Ecellence 6
Letter to Sareolders 8
Financial Statements 9
Directors' Report
Corporate Governance Report
Management Discussion and Analysis
Auditors' Report
Balance Sheet
ProtandLossAccount
Cash Flow Statement
SchedulestoBalanceSheetandProt&LossAccount
SignicantAccountingPoliciesandNotestotheAccounts
Consolidated Financial Statements
Section 212 Report
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Board of Directors:
Dr. Prannoy RoyChairman and Whole-time Director
Mrs. Radika RoyManaging Director
Mr. K V L Narayan RaoGroup CEO and Executive Director
Mr. Amal Gangli
Mr. Vijaya Baskar Menon
Ms. Indrani Roy
Mr. Pramod Basin
Company Secretary and Compliance Ofcer
Mr. Anoop Singh Juneja
AditorsPrice Waterhouse
Building- 8, 7th & 8th Floor,
Tower-B,DLFCyberCity,Gurgaon-122002,HaryanaPhone + 91 124 462 0000
Fax + 91 124 462 0620
Registered Ofce207, Okhla Industrial Estate, Phase-III,
NewDelhi-110020.
Phone+91 11 - 4617 6300, 4617 6552Fax+91 11 - 41735110
Adit CommitteeMr. Amal Ganguli-Chairman
Mr. Vijaya Bhaskar Menon
Ms. Indrani Roy
Mr.KVLNarayanRaoMr. Pramod Bhasin
Remneration CommitteeMr. Vijaya Bhaskar Menon-Chairman
Mr. Amal Ganguli
Ms. Indrani Roy
Sareolders and Investors
Grievance CommitteeMs. Indrani Roy-Chairperson
Dr. Prannoy Roy
Mrs. Radhika Roy
Mr.KVLNarayanRao
ESOP & ESPS CommitteeMrs. Radhika Roy
Mr. Vijaya Bhaskar Menon
Ms. Indrani Roy
Board of Directors
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NEw DELhI TELEVISION LIMITED
ExPENSES AS % TO TOTAL REVENuE
Performance Indicators
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REVENuES FROM OPERATIONS
Performance Indicators
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Financial Statements6 Awards of Excellence
Aards of Ecellence: 2010-2011
Commonealt Broadcasting Association Aards2010
One World Media Award for Extending Audience Reach
TheGreenathon:SmeetaChakrabartiandPriyanka Kaul, Special Projects
CBA-IBC Award for Innovative Engineering
Yoda Multi Production System in a laptop: Jay Chauhan
Roll of Honour
Mr.KVLNarayanRao
NDTV 24x7
Nes Television Aards (NT Aards) 2010
Best Public Debate Show-English
The Big Fight
Best Entertainment Feature-English
SharukhisofVienna(SutapaDeb)
Best News Talk Show-EnglishThe Big Fight
Best Business News Program-English
B-School Budget
Best News Documentary (Limited Episodes)-English
SecretLives
Best Sports News Show Presenter-English
NikhilNaz
Indian Nes Broadcasting Aards (INBA) 2010
News Television Editor-in-Chief of the Year 2010
Barkha Dutt
Best News Show of the Year 2010-English
India Decides @ 9
News Show Host of the Year 2010-English
Left,Right&Centre,NidhiRazdan
Best Promo of a Programme/Channel 2010-English
The Shared Experience
Indian Television Academy Aards (ITA) 2010
Best Mini Series
SecretLives
UNFPA- LAADLI Media Awards for Gender Sensitivity
ModernLoveStories,SutapaDebChhoone Do Aasman, Red Dot Productions
NDTV India
Nes Television Aards (NT Aards) 2010
Best Presented Popular News Show-Hindi:
Viraat Samundar Ka Sikander
Best Lifestyle & Fashion News Show-Hindi
Aman Ka Zaika
Best Public Debate Show Hindi
Humlog
Best Entertainment Feature- Hindi
JaiJawan(SalmanKhan)
Best Current Affairs Feature- Hindi
Ravish Ki Report
Best Current Affairs Programme
(Home & International)-Hindi
Aman Ka Pul
Best Sports Feature- Hindi
AbDilliDoorNahin(CWGSpecial)
Best Daily Prime Time Newscast-HindiVinodDuaLive
Best Sports News Show Presenter-Hindi
Afshan Anjum
Best TV News Reporter-Hindi
Parimal Kumar
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Annual Report 2010-11
Financial Statements 7Awards of Excellence
Aards of Ecellence: 2010-2011
Indian Nes Broadcasting Aards, Agst 2010
Best News Documentary of the Year 2010-Hindi
Chhoone Do Aasman
News Reporter of the Year 2010-Hindi
NeetaSharma
Business News Anchor of the Year 2010-Hindi
MehrajDubey
News Shot Host of the Year 2010-Hindi
NidhiKulpati
NDTV Prot
Indian Television Academy Aards (ITA) 2010
Best Quiz Show
Mahindra Auto Quotient
NDTV Good Times
Indian Television Academy Aards 2010
Best Travel Show
Ten Things to Do Before You Say Bye
Best Interstitial
Good Times India
Indian Telly Aards 2010
Best Lifestyle & Fashion Show
I'm Too Sexy For My Shoes
Best Cookery Show
ChakhLeIndia
Best Travel Show
Royal Reservation
Best Videography (Non Fiction)
Festival-CelebratingIndia
world Media Festival Gold Aards 2010
Best Documentary Travel
TheWarriortribesofNagaland
Best Public Relations Culture Interstitials
Good Times India
NDTV Convergence
Nes Television Aards (NT Aards) 2010
Best Nes Cannel website
www.ndtv.com
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Financial Statements8 Letter to Shareholders
Dear Shareholders,
India's media, like the nation, is going through a period of 'churn'. Many see the media exposes on bribery and
corruption ... and our leaders being sent to jail ... as depressing evidence of the crisis in our system. But there is an
alternate viewpoint: this is a necessary step for the country to cleanse itself. India will emerge from this stronger and
more mature.
The question is will India's media emerge more mature? In the midst of the cacophony of tabloid news channels,
NDTV remains India's most credible and balanced news network ... which is why advertisers are still willing to pay
a premium over other channels to advertise on NDTV. We believe, with your support as our shareholders, once the
dust has settled and credibility is seen as the most important factor in news reporting, NDTV will be the brand that
survives and remains on top. Brand matters ... and NDTV is India's leading news television brand.
In many ways India's media is in transition from analog to digital. While our media's vibrancy and creativity adds greatlyto our democracy, the bottlenecks created by analog cable distribution as well as local cable monopolies are hurting
the growth of our media. Moreover this leads to high distribution costs which hit the bottom line of most companies.
As India moves rapidly towards newer digital forms of distribution, NDTV and other leading media companies are set
to benet greatly. The digital transformation will include cable-digitization, DTH, 3G mobile and Broadband Wireless
Access amongst others. As a result of these developments, the future is bright for NDTV because a major cost centre
will gradually turn into a source of revenues ... a huge turnaround.
I am also very happy to report that the spirit, teamwork and energy among everyone who works at NDTV is at it's
highest levels. NDTV has been assessed to be number one among all media organizations in India in the list of "Great
Places to Work" . This makes all of us proud as it leads to high quality on air programming.
In addition to being the most credible news network, we are very happy to report to you that NDTV is India's leading
media organisation in pushing for change in India through campaigns on various critical challenges: the environment,
the near extinct tiger, India's dying coastline, our polluted rivers, marks for sports and support my school to name a
few campaigns. On these issues, NDTV has run a series of highly successful television campaigns that have led to
changes in government policy as well as impacted the national attitude towards our environment. We are proud that
this ability to go beyond narrow short term interests and think about the future of India has made NDTV the channel
of choice among the younger generation of viewers in our country.
Once again thank you, our shareholders, for all your support and encouragement. We strive to make you proud of an
organization that is the leading Indian media brand today, tomorrow and for 150 years from now.
Dr. Prannoy Roy
Chairman
Mrs. Radhika Roy
Managing Director
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Financial Statements 9LettertoShareholders
Ne Deli Television Limited
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DIRECTORS REPORT
To Te Members,
Your Directors have pleasure in presenting the Twenty Third Annual Report and Audited Accounts of the Company
forthenancialyearendedMarch31,2011.
Financial Reslts
ThesummarizednancialresultsfortheyearendedMarch31,2011areasfollows:-
Year ended
31.03.2011
(Rs. in Crores)
Year ended
31.03.2011
(Rs. in Crores)
Year ended
31.03.2010
(Rs. in Crores)
Year ended
31.03.2010
(Rs. in Crores)
Standalone Consolidated Standalone Consolidated
Business Income 347.22 418.57 348.38 590.54Other Income 16.63 34.38 7.08 143.15
Total Income 363.85 452.96 355.45 733.69
Prot/(Loss)beforeTax (93.56) (169.95) (18.66) (209.71)
Employee Stock Compensation Expense 1.37 3.39 10.21
ProvisionforTax/Others* 3.71 5.64 1.86 4.98
Share of Minority (4.04) (4.88)
Shareinprotofassociates 1.06 0.61
Exceptional gain on dilution in stake in a
subsidiary 337.06
NetProt/(Loss)afterTax (98.64) (173.89) (20.52) 117.66
Balancebroughtforwardfrompreviousyear (77.93) 87.07 (57.41) (30.59)
Addition on account of merger 1.75 Adjusted against reserve & surplus as per
Scheme of Arrangement of merger
76.18 37.39
Appropriation:
Transfer to General Reserve NIL NIL NIL NIL
Proposed Dividend on Equity Shares NIL NIL NIL NIL
Tax on Dividend NIL NIL NIL NIL
ProtcarriedtoBalanceSheet (98.64) (49.42) (77.93) 87.07
*IncludesDeferredTax(Income)/Expense
Te Year under Revie
Duringtheyearunderreview,theCompanyachievedaturnoverofRs347.22croresandoperatinglossbeforedepreciationinterestandtaxofRs.(46.07)crores.
TheCompanysoperatinglossbeforetaxandESOPcostwasRs.(93.56)crores,operatinglossaftertaxwasRs.(98.64)croresandearningpershareRs.(15.30)(Basic)andRs.(15.30)(Diluted).
AdetailedreviewoftheCompanysoperationshasbeenprovidedintheManagementDiscussionandAnalysisReport,which forms part of this Report.
AuditedconsolidatednancialstatementsfortheyearendedMarch31,2011alsoformapartofthisReport.
Dividend
For the year under review, the Board of Directors do not recommend any dividend.
Deposits
TheCompanyhasnotaccepted/renewedanydepositsfromthepublicduringtheyear.
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Corporate Governance
The Companys Corporate Governance Report is attached and forms a part of this report.
Te Company
Duringtheyear,theCompanyenteredintosignicantagreementsinrespectoffollowingtransactions:
TheCompanythroughitssubsidiaryNDTVNetworksLimitedpurchasedthestakeheldbyNDTVNetworksPlc1.inNDTVLabs Limited,NDTV LifestyleLimited, NDTV ConvergenceLimited, TurnerGeneral EntertainmentNetworksIndiaPrivateLimitedandNGENMediaServicesPrivateLimited.
TheCompany,NDTVNetworksLimitedandNDTVLifestyleHoldingsPrivateLimitedenteredintoanagreement2.withSouthAsiaCreativeAssetsLimitedforsaleof49%oftheCompanysindirectstake(onafullydilutedbasis)intheLifestylebusinessoftheNDTVGroup.
TheCompanyenteredintoadistributionagreementwithStarDen,todistributefourofitschannelsNDTV24x7,3.NDTVProt,NDTVIndiaandNDTVGoodTimesacrossvariousdistributionplatforms.
Sceme of Amalgamation
Duringtheyear,theeightIndiansubsidiariesoftheCompanyviz:NDTVStudiosLimited,NDTVIndiaPlusLimited,NDTVBusinessLimited,NewDelhiTelevisionMediaLimited,NDTVDelhiLimited,NDTVHinduMediaLimited,NDTVNews24X7LimitedandNDTVNewsLimited(collectively,TransferorCompanies)mergedintotheCompany(TransfereeCompany)videorderoftheHonbleHighCourtofDelhidatedNovember8,2010.PursuanttotheCompanyhavingmadenecessarylingsoftheaforesaidordersoftheHonbleHighCourt,withtheRegistrarofCompanies,NCTofDelhiandHaryana,themergerhadtakeneffectfromDecember17,2010.ConsequenttothemergertheauthorizedsharecapitaloftheCompanyhas increased fromRs. 35,00,00,000/- dividedinto 8,75,00,000Equity Shares ofRs.4/-eachtoRs.173,30,00,000dividedinto43,32,50,000EquitySharesofRs.4/-each,w.e.f.December17,2010.
Inadditiontotheabove,theCompanyhadinitiatedstepstosimplifythestructureofitsdirectandindirectsubsidiaries
in India and overseas. As part of this exercise, the Company initiated steps with respect to the liquidation of someofitsoverseassubsidiariesandcompletedtheliquidationofNDTVMiddleEastVenturesFZLLC,UAE,NDTVFourHoldingsAB,SwedenandNDTVNetworksBV,TheNetherlands.NDTVNetworksPlc,theUKsubsidiaryoftheCompany,wasalsoplacedundermembersvoluntarywindingupinMarch2011.
Further,thesubsidiariesoftheCompanyinMauritius,namelyNDTVTwoHoldingsLimitedandNDTVThreeHoldingsLimited,werealsoplacedunderliquidation.Theliquidationprocessfortheseentitiesisexpectedtobeconcludedshortlyandaformalliquidationcerticateisawaited.
Sbsidiary Companies and Grot
Duringtheyear,inordertotransfertheCompanysstakeinnon-newsbusinessofthegroup,heldbyNDTVNetworksPlc,UKtoanIndianentityofthegroup,theCompanysetupNDTVNetworksLimited,itsdirectsubsidiaryinIndia.NDTVNetworksLimitedacquiredtheentiresharecapitalheldbyNDTVNetworksPlcinNDTVLabsLimited,NDTV
ConvergenceLimited,NGENMediaServicesPrivateLimitedandNDTVLifestyleHoldingsPrivateLimited.
Duringtheyear,theCompanyalsosetupNDTVLifestyleHoldingsPrivateLimited.NDTVLifestyleHoldingsPrivateLimitedistheholdingcompanyofNDTVLifestyleLimited,whichownsandoperatesthechannelNDTVGoodTimes.NDTVLifestyleHoldingsPvt.Ltd.,anindirectsubsidiaryoftheCompanyandAstroAllAsiaNetworksPlc,enteredintoanagreementfortheacquisitionof49%stakeintheLifestylebusinessoftheNDTVgroupbySouthAsiaCreativeAssetsLimited,asubsidiaryofAstroAllAsiaNetworks.
Financial Statements of te Sbsidiary Companies
TheMinistryofCorporateAffairs,Governmentof India,videGeneralCircular No.2/2011datedFebruary 8,2011hasgrantedgeneralexemptionunderSection212oftheCompaniesAct,1956,waivingtherequirementtopublishindividualbalancesheets,prot&lossaccounts,director'sreportsandauditor'sreportsofthesubsidiariesandother
documentsotherwiserequiredtobeattachedtotheCompany'saccounts.However,theannualaccountsofthesubsidiarycompaniesandtherelateddetailedinformationshallbemadeavailabletothemembersoftheholding
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andsubsidiarycompaniesseekingsuchinformationatanytime.Theannualaccountsofthesubsidiarycompaniesshallalsobekeptopenforinspectionbyanymemberinitsregisteredofceandthoseoftherespectivesubsidiarycompanies.TheCompanyshallfurnishahardcopyofdetailsofaccountsofsubsidiarycompanies,uponreceiptof
a requisition, from any shareholder.
Employee Stock Option Plan (ESOP-2004)
TheCompanyhadinstitutedtheEmployeeStockOptionPlan-ESOP2004tograntequity-basedincentivestoallitseligibleemployees.TheESOP2004asapprovedbytheshareholdersonSeptember19,2005providesforgrantof4057thousandoptionstoemployeesoftheCompanybytheESOPCommitteeatanexercisepriceofRs.4/-each,representing one share for each option upon exercise. The maximum tenure of these options granted is 7 years fromthe date of grant.
Further, the Company had amended the ESOP 2004 Scheme incorporating a clause giving the employees a right tosurrender the options. Consequently, employees holding options equivalent to 18,01,925 had exercised their right
to surrender.
ThedetailsaspertherequirementsofSEBI(ESOS&ESPS)Guidelines,1999areannexedtoandformpartofthisReport.
Employee Stock Prcase Sceme 2009 (ESPS -2009)
TheCompany hadinstituted theEmployee Stock PurchaseScheme2009(theScheme) foremployees oftheCompanyanditssubsidiariesbygrantingsharesthereunder.Accordingly,theschemewasformulatedinaccordancewiththeSEBI(ESOS&ESPS)Guidelines,1999.
TheschemewasapprovedbytheshareholdersonMarch10,2009,throughapostalballotandprovidesforallotmentof21,46,540(Twentyonelakhsfortysixthousandvehundredandforty)equitysharestotheeligibleemployeesoftheCompanybytheESOP&ESPSCommitteeatanexercisepriceofRs.4/-each.
Duringtheyear,t heCompanyhasallotted11,740equityshares(previousyear17,41,435equityshares)totheeligible
employees, out of 17,64,425 equity shares issued on March 31, 2009.ThedetailsaspertherequirementsofSEBI(ESOS&ESPS)Guidelines,1999areannexedandformpartofthisReport.
Signicant Events and Agreements
GREENAThON - Greenies Eco Aards
Initsendeavortocreateenvironmentalawareness,theCompanyhasbeenorganizinganationwidecampaignNDTVToyotaGreenathon,fortwoconsecutiveyears.Greenathon,initsrstandsecondyears,receivedanoverwhelmingresponse from Bollywood stars, Chief Ministers from different states of India, companies and individuals helping to
raisefundsandlightingupseveralvillagesacrossIndia.EventswereorganizedthroughoutthecountryasapartoftheGreenathoncampaignlikeMuralWallPaintingandplantingoftreesaplingsetc.THENDTVTOYOTAGREENATHON
isIndiasonly24-hourliveeventtobetelecastacrossallNDTVchannels,forpromotingenvironmentalawareness.Duringtheyear,NDTV,inpartnershipwithToyota,announcedtheGreeniesEcoAwards.Theseawardswereaimedat encouraging, acknowledging and awarding the champions of the earth for environmental leadership. It showcased
examplesofexcellenceandbestpracticesinndinginnovativesolutionstoenvironmentalchallenges.Thenominationsfor'NDTV-ToyotaGreeniesEcoAwardswereselectedfromallovertheworld.
ThewinnersofIndiasrstnationalenvironmentawards-GreeniesEcoAwardswereannouncedatanawardceremonyinNewDelhigracedbythePresidentofIndia,Smt.PratibhaDevisinghPatil.
Tigerton - Save Or Tiger
TakingforwardthecampaignSaveOurTigers,NDTVinassociationwithAircelembarkeduponauniqueinitiativetosupportitscampaignSaveOurTigerbytelecastinga12-hourTelethononitsnetworkchannels.Duringthecampaign,
wildlife champions from across the country came forward to extend a hand in saving the national animal, the Indiantiger.Thecampaignambassador,Sh.AmitabhBachchan,highlightedthekeyissuesoftigerconservation.
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As part of the campaign a special show was aired to engage all the key stakeholders and tiger experts to voice their
opiniononwhatneedstobedonetoprotectthetigers.Thecampaignalsoinvolvedongroundeventsandairingofdocumentariespromotingthecauseofprotectingthetiger.NDTVscampaigntosaveourtigersreceivedan
overwhelming response with people from across the country.
The 12-hour Save Our Tigers Telethon raised Rs 5 crore to set up tiger task forces in key reserves across the country.
ForthisNDTVhasbeenjoinedbyadedicatedpartnershippledgefromtheWildlifeConservationTrust(WCT).
world Economic Form Davos
The Company extensively covered 2011 World Economic Forum, held at Davos during January, 2011, where world
dignitaries,economists,politiciansandtopbusinessleadersfromaroundtheworldgatheredtodiscussfreemarketsandtheglobaleconomicrecovery.
Spport My Scool campaign
Initscontinuedeffortstohelpbuildsustainablecommunities,NDTVandCoca-ColaIndiainassociationwiththeir
NGOpartners,UN-Habitat,CharitiesAidFoundation(CAF)andSulabhInternationalembarkeduponauniqueinitiative- Spport My Scool campaign. The campaign aimed to develop over 100 healthy, active and happy schools in
ruralandsemi-urbantownsbyimprovingbasicamenitiesandsubsequentlygeneratingmonetaryresources,hencebenettingover50,000studentsacrossthecountry.
Aspartofaspeciallaunchevent,cricketinglegendandcampaignambassador,Mr.SachinTendulkarunveiledthecampaign
logo.Someoftheothereminentpersonalitiespresenttolendtheirsupporttothecampaignincluded,Sh.KapilSibal,Union
Minister,Ms.RaveenaTandon,actor,Ms.PriyaDuttandMr.SanjayRaut,MembersoftheParliament.
NDTV Campaign to Save Indias Coasts
NDTVhasstartedanewcampaigntoSaveIndiasCoasts.NDTVToyotaEtiosSaveIndiasCoas tisaninitiativetoraise awareness regarding the serious threat to the Indian coastline.
Aspartofthecampaign,NDTVreporterstravelledthelengthofIndiascoastlinetobringtolightthegroundreality,galvanizethelocalpopulationandraisenationalawareness.Aspecialpanelincludingenvironmentalists,politiciansand activists discussed the serious threat that the Indian coastline is under from unplanned development.
FurtherdetailsofthesignicanteventsandagreementsappearintheManagementDiscussionandAnalysisReport,which forms part of this Report.
Directors
In accordance with the provisions of theArticles ofAssociation ofthe Company, Mr. K V LNarayan Rao andMr.AmalGanguli,Directors,areliabletoretirebyrotation,attheensuingAnnualGeneralMeetingandareeligibletobere-elected.
The Board, on the recommendation of remuneration committee, has approved the revision in remuneration of
Mr.K VLNarayanRao,GroupCEOandExecutiveDirector,w.e.f.April1,2011,fortheremainingperiodofhisappointmenti.e.June10,2013.TherevisioninremunerationissubjecttotheapprovalofthemembersoftheCompanyat the ensuing Annual General Meeting and Central Government, if necessary.
Directors Responsibility Statement
Pursuantto therequirementunderSection217(2AA)of theCompaniesAct, 1956 withrespectto theDirectorsResponsibilityStatement,itisherebyconrmed:
1. thatinthepreparationoftheannualaccountsforthenancialyearendedMarch31,2011theapplicableaccountingstandardshavebeenfollowedandtherearenomaterialdepartures;
2. that the Directors have selected such accounting policies and applied them consistently and made judgments
andestimatesthatarereasonableandprudentsoastogivea trueandfairviewofthestateofaffairsofthe
CompanyattheendofthenancialyearandoftheprotorlossoftheCompanyfortheyearunderreview;3. thattheDirectorshavetakenproperandsufcientcareforthemaintenanceofadequateaccountingrecordsin
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accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for
preventinganddetectingfraudandotherirregularities;
4. thattheDirectorshavepreparedtheaccountsforthenancialyearendedMarch31,2011onagoingconcernbasis.
Aditors
TheAuditorsoftheCompany,M/s.PriceWaterhouse,CharteredAccountants,holdofcetilltheconclusionoftheensuingAnnualGeneralMeetingoftheCompanyandareeligibleforre-appointment.Theyhaveconrmedthattheirre-appointmentasAuditorsoftheCompany,ifmade,wouldbeinaccordancewiththelimitsspeciedunderSection224(1B)oftheCompaniesAct,1956.
Withreferencetopointno.4oftheAuditorsReporttothemembers,theDirectorsstatethattheCompanyisintheprocessof obtainingthe approval oftheCentralGovernment fortakingitsapproval inrespectofthemanagerialremuneration of the Directors.
TheobservationsoftheAuditorsintheirreportreadtogetherwiththeNotesonAccountsareselfexplanatoryandtherefore, in the opinion of Directors, do not call for any further explanation.
Conservation of Energy, Tecnology Absorption and Foreign Ecange Earnings and Otgo
PursuanttoSection217(1)(e)oftheCompaniesAct,1956readwiththeCompanies(DisclosuresofParticularsintheReportoftheBoardofDirectors)Rules,1988,thefollowinginformationisprovided:
A. Conservation of Energy
YourCompanyisnotanenergyintensiveunit.Howeverregulareffortsaremadetoconserveenergy.
B. Researc and Development
TheCompanycontinuouslymakeseffortstowardsresearchanddevelopmentalactivitieswhere byitcanimprovethe quality and productivity of its programmes.
C. Foreign Ecange Earnings and Otgo
During the year, the Company had foreign exchange earnings of Rs. 15.83 crores (previous year Rs. 11.62
crores).Theforeignexchangeoutgoonsubscription,uplinkingandnewsservicecharges,travelling,consultancy,softwareexpenses,websiteexpenses,repairsandmaintenanceandotherexpensesamountedtoRs.20.85crores(previousyearRs.28.63crores).OutgoonaccountofcapitalgoodsandotherswasRs.4.61crores(previousyearRs.2.72crores).
Personnel
AsrequiredbytheprovisionsofSection217(2A)oftheCompaniesAct,1956,readwiththeCompanies(ParticularsofEmployees)Rules,1975asamended,thenamesandotherparticularsoftheEmployeesaresetoutintheannexureforming part of this report.
TheDirectorsReportisbeingsenttoalltheshareholdersexcludingthisannexure.AnyshareholderinterestedinobtainingthecopyofthisannexuremaywritetotheCompanySecretaryattheregisteredofceoftheCompany.
Acknoledgements
Your Directors express their grateful thanks and appreciation for the assistance and cooperation received from the
investors,shareholders,banksandbusinessassociatesduringtheyearunderreview.YourDirectorsalsowishtoplaceonrecordtheirappreciationfortheexcellentperformanceandcontributionoftheemployeestotheCompanysprogress during the year under review.
For and on bealf of te Board
Place: NewDelhi Dr. Prannoy RoyDate : May 3, 2011 Cairman
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EMPLOYEE STOCK OPTION PLAN (ESOP-2004)
TheCompanyinstitutedtheEmployeeStockOptionPlan- ESOP2004tograntequity-basedincentivestoallitseligibleemployees.TheESOP2004,approvedbytheshareholdersonSeptember19,2005providesforgrantof4,057thousandoptionstoemployeesoftheCompanybytheESOPCommitteeatanexercisepriceofRs.4each,representing one share for each option upon exercise. The maximum tenure of these options granted is 7 years
from the date of grant. The shareholders of the Company had approved the resolution, on March 10, 2009, through
postalballottoamendtheESOP2004schemeforincorporatingaclausegivingtheemployeesarighttosurrenderthe options. Pursuant to the same, employees holding options equivalent to 18,01,925 had exercised their right to
surrender.
DisclosuresincompliancewithClause12oftheSEBI(ESOS&ESPS)Guidelines,1999,asamended,aresetbelow:
S. N. Particlars Details
1. Optionsgrantedduringtheyear(No.) NIL
2. The pricing formula ExercisepriceRs.4/-pershare3. Optionsvested(asofMarch31,2011)(No.) NIL
4. Optionsexercisedduringtheyear(No.) NIL
5. TotalnumberofsharesarisingasaresultofexerciseofOptionsduringtheyear(No.)
NIL
6. (a) Optionslapsed/forfeitedduringtheyear(No.) NIL
6. (b) Optionssurrendered NIL
7. Variation of terms of options Novariationintermsofoptionsduringtheyear
8. Money realized by exercise of Options during theyear(Rs.)
NIL
9. Total number ofOptions inforce (as ofMarch 31,2011)(No.)
NIL
10. Employee wise details of Options Granted to:
(a) SeniorManagementPersonnel During the year under review no Options weregranted to the senior management personnel of the
Company.
(b) AnyotheremployeewhoreceivesagrantinanyoneyearofOptionamountingto5%ormoreofOption granted during that year
Noemployee is inreceiptof the grantin any oneyearofOptionamountingto5%ormoreofOptiongranted during the year.
(c) IdentiedemployeeswhoweregrantedOptions,duringoneyear,equaltoorexceeding1%ofthe
issued capital (excluding outstanding warrantsandconversions)oftheCompanyatthetimeofgrant
Thereisnoemployeewhohasbeengrantedduringone year, equal toor exceeding 1% ofthe issued
capital.
11. Diluted Earning Per Share (EPS) pursuant toissue of shares on exercise of Option calculated
in accordance with Accounting Standard (AS) 20EarningPerShare
Rs.(15.30)
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S. N. Particlars Details
12. Where the Company has calculated the Employee
Compensation cost using the intrinsic value of StockOptions, the difference between the employeecompensation cost so computed and the employee
compensationcostthatshallhavebeenrecognizedif it had used the fair value of Options.
TheimpactofthisdifferenceonprotsandonEPSof the Company
The Company has used intrinsic value method for
calculating the Employee Compensation Cost withrespect to the Stock Options.
If the Employee Compensation Cost for the ESOP
hadbeendeterminedinamannerconsistentwiththeFair Value approach, the Stock Option Compensation
Expenses would remain the same. Accordingly, there
wouldbenoimpactontheLossfortheyearandtheBasic and Diluted EPS of the Company.
13. Weighted average exercise prices and Weighted
average fair value of Options for options whose
exercise price either equals or exceeds or is less
than the market price of the stock
Grant Date Eercise Price weigted
average
fair vale of
options as atte grant date
(Rs.)
June 30, 2005 Rs. 4 209.66
Sept. 19, 2005 Rs. 4 232.13
Dec. 1, 2005 Rs. 4 176.42
April 20, 2006 Rs. 4 250.63
April 20, 2006 Rs. 4 252.35
July 1, 2006 Rs. 4 167.14
Aug 1, 2006 Rs. 4 150.08
Oct 17, 2007 Rs. 4 352.21Oct 17, 2007 Rs. 4 349.79
14. Descriptionofthemethodandsignicantassumptionsused during the year to estimate the fair value of
Options, including the following weighted average
information:
RiskFreeinterestrate(%)Expected life
Expectedvolatility(%)Expected Dividends
The price of the underlying share in market at the
time of option grant
NotApplicable
TheCompanyhasreceivedacerticatefromtheAuditorsoftheCompanythatESOP2004Schemehasbeenimplemented in accordance with the Securities and Exchange Board of India (Employee Stock Option Scheme and
EmployeeStockPurchaseScheme)Guidelines,1999,andtheresolutionpassedattheExtra-ordinary GeneralMeetingheldonJanuary29,2004andresolution(s)passedattheAnnualGeneralMeeting(s)heldonSeptember22,2004andSeptember19,2005andtheshareholdersoftheCompanyhaveapprovedtheresolutiononMarch10,2009throughpostalballottoamendtheESOP2004schemeforincorporatingaclausegivingtheemployeesarightto surrender the options.
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EMPLOYEE STOCK PuRChASE SChEME (ESPS-2009)
TheCompany hadinstituted theEmployee Stock PurchaseScheme2009(theScheme) foremployees oftheCompanyanditssubsidiariesbygrantingsharesthereunder.Accordingly,theSchemewasformulatedinaccordancewiththeSEBI(ESOS&ESPS)Guidelines,1999.
TheSchemewas approved bytheshareholdersofthe Company,on March 10,2009, throughpostal ballot.TheSchemeprovidesforissueandallotmentofnotexceeding21,46,540EquitySharestotheeligibleemployeesoftheCompanybytheESOP&ESPSCommitteeatanexercisepriceofRs.4/-each.
Duringtheyear,theCompanyallotted11,740EquityShares(previousyear17,41,435EquityShares)totheeligibleemployees, out of 17,64,425 Equity Shares issued on March 31, 2009.
DisclosuresincompliancewithClause19oftheSEBI(ESOS&ESPS)Guidelines,1999,asamended,aresetbelow:
S. N. PARTICuLARS DETAILS
1. ThedetailsofthenumberofsharesissuedinESPSScheme 17,64,425 Equity Shares
2. The price at which such shares are issued ExercisepriceRs.4/-pershare
3. Employee-wisedetailsofthesharesissued/allotedto;
(a) SeniorManagerialPersonnel; DuringtheyearunderreviewNilequityshareswereissued/allotedtotheseniormanagementpersonnelof the Company.
(b) Any other employee who is issued / allottedshares in any one year amounting to 5% ormoreissued/allottedduringthatyear
Noemployeeisinreceiptoftheissued/allottedofequitysharesinanyoneyearamountingto5%ormoreequitysharesissued/allotted duringthatyear;except the following:
Director / Employee(s)
Name
Eqity Sares issed /
allotted dring te year
(2009 10)
(no.)
Mr.KVLNarayanRao 1,37,500
Ms.SmeetaChakrabarti 1,16,700
Total 2,54,200
(c) Identied employees who wereissuedsharesduringanyoneyearequaltoorexceeding1%of the issued capital of the Company at the time
of issuance.
Thereisnoemployeewhohasbeenissuedequityshares during one year equal to or exceeding1%of the issued capital of the Company at the time of
issuance.
4. Diluted Earning Per Share (EPS) pursuant toissuance of shares under ESPS
Rs.(15.30)
5. Consideration received against the issuance of
shares
Rs. 4 per share
TheCompanyhasreceivedacerticatefromtheAuditorsoftheCompanythatESPS2009Schemehasbeenimplemented in accordance with the Securities and Exchange Board of India (Employee Stock Option Scheme
andEmployeeStockPurchaseScheme)Guidelines,1999,andtheresolutionpassedby theshareholdersoftheCompanyonMarch10,2009throughpostalballot.
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Corporate Governance
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Auditors Certicate regarding compliance of conditions of Corporate Governance
TotheMembersofNewDelhiTelevisionLimited
WehaveexaminedthecomplianceofconditionsofCorporateGovernancebyNewDelhiTelevisionLimited,forthe
yearended31stMarch,2011,asstipulatedinClause49oftheListingAgreement(s)ofthesaidCompanywithStock
Exchange(s)inIndia.
Thecomplianceof conditionsofCorporateGovernanceisthe responsibilityoftheCompany'smanagement.Our
examinationwascarriedoutinaccordancewiththeGuidanceNoteonCerticationofCorporateGovernance(as
stipulatedinClause49oftheListingAgreement),issuedbytheInstituteofCharteredAccountantsofIndiaand
waslimitedtoproceduresandimplementationthereof,adoptedbytheCompanyforensuringthecomplianceofthe
conditionsofCorporateGovernance.Itisneitheranauditnoranexpressionofopiniononthenancialstatements
of the Company.
Inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous,wecertifythatthe
CompanyhascompliedwiththeconditionsofCorporateGovernanceasstipulatedintheabovementionedListing
Agreement(s).
WestatethatsuchcomplianceisneitheranassuranceastothefutureviabilityoftheCompanynortheefciencyor
effectiveness with which the management has conducted the affairs of the Company.
For Price Waterhouse
FirmRegisterationNo.-FRN007568S
Chartered Accountants
Anupam Dhawan
Partner
MembershipNo.-F084451PlaceofSigning:NewDelhiDate : May 3, 2011
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CORPORATE GOVERNANCE REPORT
Companys Pilosopy on Corporate Governance
NDTV is respected in the Industry for its credibility and the professional style of management. The corporategovernancephilosophyoftheCompanyisbasedonintegrity,ethicalvalues,transparency,respectforthelawandcompliance therewith, emphasis on quality and a caring spirit.
TheCompanystronglybelievesthatcorporategovernanceisapre-requisiteforenhancinglong-termshareholdersvalueandconsidersittobeaninternallydrivenneedthatdoesnotmerelyneedtobeenforcedexternally.
The Company is committed to the principles and features of corporate governance and has consistently followed
high standards in all its activities and processes.
Board of Directors
The present strength of the Board is seven, comprising three executive directors including the Chairman, and four
non-executive independent directors. The Board of Directors of the Company is a sound mix of executive andindependent directors to maintain the independence of the Board and to separate the Board function of governance
and management. The Board meets at least four times in a year and more frequently, if deemed necessary, with a
maximumtimegapoffourmonthsbetweenanytwoboardmeetings.Allthefournon-executiveindependentdirectorsareeminentprofessionalshavingexperienceinbusiness,nanceandotherkeyfunctionalareas.
TheCompositionoftheBoardandthenumberofdirectorships,membershipsandchairmanshipofcommitteesasonMarch31,2011,aregivenbelow:
Name of Directors Position Directorsips
eld as on
Marc 31, 2011*
Committee
member-
sip in all
Companies***
Cairmansip
in Committees
ere tey are
Members***
Dr. Prannoy Roy Chairman and Whole-timeDirector(Promoter)**
11 5 2
Mrs. Radhika Roy Managing Director
(Promoter)**10 5 -
Mr.KVLNarayanRao Group CEO and ExecutiveDirector
9 5 2
Mr. Amal Ganguli Non-ExecutiveIndependent Director
15 11 5
Ms. Indrani Roy Non-ExecutiveIndependent Director
3 2 1
Mr. Vijaya Bhaskar
Menon
Non-Executive
Independent Director
2 2 -
Mr. Pramod Bhasin Non-ExecutiveIndependent Director
5 2 -
* IncludesdirectorshipsinallPrivateandPublicIndianCompanies.TheforeignCompaniesandCompainesunderSection25oftheCompaniesAct,1956havenotbeentakenintoaccount.
** Mrs. Radhika Roy, Managing Director of the Company is the wife of Dr. Prannoy Roy, Chairman of theCompany.
***Incomputationofthenumberofcommittees,thecommitteesotherthantheAuditCommitteeandtheShareholdersandInvestorsGrievanceCommitteehavenotbeentakenintoaccount.
Meetings & Attendance
TheBoardmetsixtimesduringthenancialyearunderreviewon-April30,2010,August3,2010,August27,2010,
November2,2010,December27,2010andFebruary11,2011.ThemaximumtimegapbetweenanytwoBoardMeetings was less than four months.
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The presence of Directors at the Board meetings and last AGM was as follows:
Name of te Directors Board Meetings eld
dring te year
Board meetings
attended
weter attended last Annal
General Meeting (AGM)Dr. Prannoy Roy 6 6 Yes
Mrs. Radhika Roy 6 6 Yes
Mr.KVLNarayanRao 6 6 Yes
Mr. Amal Ganguli 6 3 Yes
Ms. Indrani Roy 6 5 Yes
Mr. Vijaya Bhaskar Menon 6 5 No
Mr.PramodBhasin* 6 5 No
*AppointedasDirectorw.e.f.April30,2010
Noneofthedirectorsisamemberofmorethantencommitteesoractsasthechairmanofmorethanvecommittees
inallPubliccompaniesinwhichtheyaredirectors.
Thedetailsofdirectorships/committeemembershipsarebasedonthedisclosuresreceivedfromthedirectors.
Adit Committee
TheprimaryresponsibilityoftheAuditCommitteeistomonitorandprovideeffectivesupervisionofthemanagementsnancialreporting process, to review thequality and reliability of theinformation used by the Board.TheAuditCommittee also focuses on the adequacy and appropriateness of the internal controls of the Company. The functions
of the Audit Committee include the following:
OverseeingtheCompanysnancialreportingprocess.
Recommending to the Board, the appointment, re-appointment or removal of the statutory auditors and their
remuneration.
Reviewing,withthemanagement,thequarterlyandannualnancialstatementsbeforesubmissiontotheBoard for approval.
Considering and approving changes, if any, in accounting policies and practices.
Overseeingcompliancewithlistingandotherlegalrequirementsrelatingtonancialstatements.
Reviewing the adequacy of the internal audit function and its operation.
Reviewingthendingsofanyinternalinvestigationsbytheinternalauditors.
Discussionwithstatutoryauditorsbeforetheauditcommences,aboutthenatureandscopeofauditaswellas post-audit discussion to ascertain any area of concern.
ReviewofManagementDiscussionandAnalysisofnancialconditionandresultsofoperations.
Reviewofstatementofsignicantrelatedpartytransactions,submittedbymanagement.
Approval of appointment of CFO (i.e., the whole-time Finance Director or any other person heading the
nancefunctionordischargingthatfunction)afterassessingthequalications,experience&background,etc. of the candidate.
ThetermsofreferencestipulatedbytheBoardtotheAuditCommitteeareasperClause49oftheListingAgreementandSection292AoftheCompaniesAct,1956,besidesothertermsformulatedbytheBoard.
The Audit Committee of the Board of Directors, as of March 31, 2011, is made up of the following directors:
Name of te Directors Category Position
Mr. Amal Ganguli Non-ExecutiveIndependentDirector Chairman
Mr. Vijaya Bhaskar Menon Non-ExecutiveIndependentDirector Member
Ms. Indrani Roy Non-ExecutiveIndependentDirector Member
Mr. Pramod Bhasin Non-ExecutiveIndependentDirector Member
Mr.KVLNarayanRao Group CEO and Executive Director Member
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Mr. Anoop Singh Juneja, Company Secretary is the Secretary to the Committee.
Four Meetings of the Audit Committee of the Company were held during the year on April 30, 2010, August 2, 2010,
November2,2010andFebruary8,2011.
TheattendanceofCommitteeMembersattheAuditCommitteemeetingswereasfollows:
Name of te Director No. of Committee meetings attended
Mr. Amal Ganguli 4
Mr. Vijaya Bhaskar Menon 4
Ms. Indrani Roy 4
Mr.PramodBhasin* 2
Mr.KVLNarayanRao 4
*AppointedasmemberofAuditCommitteeattheBoardmeetingdatedApril30,2010
CEO/CFO CerticationTheCompanyisfullycognizantoftheneedtomaintainadequateinternalcontroltoprotectitsassetsandinterestsandforintegrityandfairnessinnancialreportingandiscommittedtolayingdownandenforcingsuchcontrolsofappropriatesystemsandprocedures.TowardsthistheCEOandtheCFOhavecertiedtotheBoardbyplacingacerticateontheinternalcontrolrelatedtothenancialreportingprocessduringtheyearendedMarch31,2011.
Remneration Committee
The Remuneration Committee of the Board of Directors reviews, recommends and approves the matters connected
withxationandperiodicrevisionoftheremunerationpayabletotheExecutiveDirectors.
The Remuneration Committee is made up of the following Directors as on March 31, 2011:
Name of te Director Category PositionMr. Vijaya Bhaskar Menon Non-ExecutiveIndependentDirector Chairman
Mr. Amal Ganguli Non-ExecutiveIndependentDirector Member
Ms. Indrani Roy Non-ExecutiveIndependentDirector Member
Mr. Anoop Singh Juneja, Company Secretary acts as Secretary to the Committee.
During the year under review, no meeting of the Remuneration Committee was held.
Remneration Policy
TheremunerationpolicyoftheCompanyisaimedatrewardingperformance,basedonreviewofachievementsonaregularbasisandisinconsonancewiththeexistingindustrypractice.
The remuneration paid to executive directors during the year is as follows: (Amont in Rs.)
Name of te Director Salary* Perqisites Total
Dr. Prannoy Roy 57,98,404 2,13,236 60,11,640
Mrs. Radhika Roy 57,98,404 2,13,236 60,11,640
Mr.KVLNarayanRao 79,26,149 1,72,930 80,99,079
Total 1,95,22,957 5,99,402 2,01,22,359
*Salaryincludesallowancesandcontributiontowardsprovidentfund.
In addition, Directors have received directors fees aggregating Rs. 13,509 thousand (previous year received payment
onaccountofdilutiononconversionofCCPSofasubsidiary,directorsfeesandex-gratiaaggregatingRs.61,288thousand)fromitsoverseassubsidiaries.
Further, remuneration of the previous year amounting to Rs. 8,303 thousand paid to Director that exceeds theminimumremunerationpayableduetoinadequacyofprots,subjecttotheCentralGovernmentsapproval.
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Non-executivedirectorsarepaidsittingfeesforattendingmeetingsoftheBoardandanyCommitteethereof.Thedetails of the sitting fees paid to the non-executive directors during the year, is as under:
(Amont in Rs.)
Name of te Director Sitting Fee
Mr. Amal Ganguli 2,20,000
Ms. Indrani Roy 1,80,000
Mr. Vijaya Bhaskar Menon 1,80,000
Mr. Pramod Bhasin
Total 5,80,000
Inviewofthedutiesandresponsibilitiesundertakenbythem,inaccordancewiththeprovisionsoflawandtheoperatingneedsoftheCompanyandasapprovedbytheshareholders,theCompanymadeanapplicationtotheCentral Government for payment of remuneration to the non-executive directors for the year ended March 31, 2010,
forasumofRs.25.00lacsasperdetailsbelow.TheapplicationwasapprovedbytheCentralGovernmenton
October29,2010.Accordingly,independentdirectorswerepaidremunerationsubsequentlyonJanuary17,2011,asshownbelow:
(Amont in Rs.)
1. Mr. Amal Ganguli : 12,00,000
2. Ms. Indrani Roy : 5,50,000
3. Mr. Vijaya Bhaskar Menon : 7,50,000
EquitysharesoftheCompanyheldbythenon-executivedirectorsasonMarch31,2011areasfollows:
Name of te Director Category Nmber of sares eld
Mr. Amal Ganguli Non-ExecutiveIndependentDirector Nil
Ms. Indrani Roy Non-ExecutiveIndependentDirector NilMr. Vijaya Bhaskar Menon Non-ExecutiveIndependentDirector Nil
Mr. Pramod Bhasin Non-ExecutiveIndependentDirector Nil
Sareolders and Investors Grievance Committee
The Shareholders and Investors Grievance Committee comprised the following directors as on March 31, 2011:
Name of te Director Category Position
Ms. Indrani Roy Non-ExecutiveIndependentDirector Chairperson
Dr. Prannoy Roy Chairman & Whole-time Director Member
Mrs. Radhika Roy Managing Director MemberMr.KVLNarayanRao Group CEO and Executive Director Member
Mr.AnoopSinghJuneja,CompanySecretaryistheSecretarytotheCommitteeandtheComplianceofceroftheCompany.
The Shareholders and Investors Grievance Committee ensures that there is timely and satisfactory redressal of
all investor queries. The Committee approves, oversees and reviews all matters connected with share transfers,
rematerialisation, transposition of securities, redresses shareholders grievances like transfer of shares, non- receipt
ofbalancesheet,non-receiptofdeclareddividendandallsuchacts,thingsordeedsincidentalthereto.TheCommitteealso oversees the performance of the Registrar and Share Transfer Agent and recommends measures for overall
improvement in the quality of service to investors.
During the year seventeen meetings of the Shareholders and Investors Grievance Committee were held.
Thenumberof shareholderscomplaints receivedduring thenancialyear ended March 31,2011 were 14 andall the complaints were resolved to the satisfaction of the shareholders. There were no pending complaints as on
March 31, 2011.
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Code of Condct
TheCompanyinpursuanceoftheSecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations,1992andtheamendmentstheretohasformulated/revisedaCodeofConductforpreventionofInsiderTrading.Thecodelaysdownguidelines,whichadviseonprocedurestobefollowedanddisclosurestobemadewhiledealingwithshares of the Company and indicate the consequences of non-compliance.
TheCompanyhasalsolaiddownaCodeofConductforBoardmembersandseniormanagementpersonnel.TheCompanyiscommittedtoconductingitsbusinessinaccordancewithapplicablelaws,rulesandregulations,andthehigheststandardsofbusinessethics,andtofullandaccuratedisclosureincompliancewithapplicablelaws,rules®ulations.AlltheBoardmembersandseniormanagementpersonnelhaveafrmedcompliancewiththecodeofconductforthecurrentyear.ThecodeofconductisalsodisplayedonthewebsiteoftheCompanywww.ndtv.com.
Declaration regarding compliance with the Code of Conduct of the Company by Board members and seniormanagement personnel:-
IherebyconrmthattheCompanyhasobtainedfromallthemembersoftheBoardandseniormanagementpersonneloftheCompany,afrmationthattheyhavecompliedwiththeCodeofConductoftheCompanyduringthenancialyear 2010-11.
Place:NewDelhi KVLNarayanRaoDate : May 3, 2011 Group CEO and Executive Director
General Body Meetings
The Annual General Meeting (AGM) is the principal forum for interaction between the management and theshareholders.TheAnnualGeneralMeetingsareheldatDelhiwheretheregisteredofceoftheCompanyissituated.The Company ensures that the notice of the AGM, along with the annual report of the Company is dispatched to the
shareholderswellintimetoenablethemtoparticipateinthemeeting.
The location, date and time of the Annual General Meetings of the Company held during the las t three years are
givenbelow: Year Date Time Vene
2007-08 September22,2008 11:30 a.m. SiriFortAuditorium,AugustKrantiMarg,NewDelhi
2008-09 August 20, 2009 3.30 p.m. AirForceAuditorium,SubrotoPark,NewDelhi
2009-10 August 4, 2010 3.30 p.m. AirForceAuditorium,SubrotoPark,NewDelhi
Eleven(11)specialresolutionswerepassedbyshowofhandsbytheshareholderspresentatthelastthreeAnnualGeneralMeetings.TheChairmanoftheAuditCommitteewaspresentatalltheaboveAGMs.
Disclosres
Companies within the same Group(a)
Dr.Prannoy Roy,Mrs.Radhika Roy,RRPRHoldingPrivateLimitedandNDTVInvestmentsPrivate Limited,thetwonamedcompanieshavingtheirregisteredaddressesatE-186,Basement,GreaterKailash-I,NewDelhiand207,OkhlaIndustrialEstate,Phase-III,NewDelhi,respectively,aremembersofthesamegroupwithinthemeaning of the Monopolies and Restrictive Trade Practices Act 1969.
(b) RelatedPartyTransactions
The Company has not entered into any transaction of a material nature with its promoters, directors or the
management,theirrelativesorsubsidiariesoftheCompanyetc.thatmayhaveanypotentialconictwiththeinterests of the Company.
CompliancesbytheCompany(c)
The Company is in compliance with the various requirements of the Stock Exchanges, SEBI and other statutory
authoritiesonallmattersrelatingtothecapitalmarket.Duringtheyear2010-11,nopenalties/strictureswereimposedontheCompanybytheStockExchangesorSEBIoranystatutoryauthorityonanymatterrelatedtothe capital market.
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(d) Non-Mandatoryrequirements
Therelevantclausestatesthatthenon-mandatoryrecommendationsmaybeimplementedasperthediscretionof the Company. The Company has adopted the non-mandatory recommendation as regards the Remuneration
Committee.
Means of Commnication
The quarterly results of the Company are published in Financial Express/Business Standard (English(a)dailies)and inJansatta/Business Standard(Hindidailies) andare also available onthe Companys websitewww.ndtv.com.
AsrequiredbyClause54oftheListingAgreement,theCompanymaintainsafunctionalwebsite(b) www.ndtv.comcontainingbasicinformationabouttheCompanye.g.detailsofitsbusiness,nancialinformation,shareholdingpattern,compliancewithcorporategovernance,contactinformationofthedesignatedofcialshandlinginvestorgrievances.TheCompanyalsoensuresthatthecontentsofthesaidwebsiteareupdatedatanygivenpointoftime.
GENERAL ShAREhOLDER INFORMATION
Annal General Meeting (AGM)
The 23rdAnnualGeneralMeetingoftheCompanywillbeheldon:
Day, Date and Time: Wednesday the 3rd day of August, 2011 at 3.30 p.m
Venue:AirForceAuditorium,SubrotoPark,DhaulaKuan,NewDelhi-110010
Financial Calendar
ThenextnancialyearoftheCompanyisApril1,2011toMarch31,2012.
ThequarterlyresultswillbeadoptedbytheBoardofDirectorsinaccordancewiththefollowingschedule:
For te Qarter ending Time period
June 30, 2011 last week of July 2011
September30,2011-(resultsforthequarteraswellasHalfyear) 4thweekofOctober,2011
December31,2011 1stweekofFebruary,2012
March31,2012(yearending) 1st week of May, 2012
Book Closre
ThebookclosureperiodisfromThursday,July28,2011toWednesday,August3,2011(bothdaysinclusive).
Listing on Stock Ecanges and te Stock Code allotted:
The Equity Shares of the Company are listed on the following Stock Exchanges:
(a) BombayStockExchangeLimited(BSE)PhirozeJeejeebhoyTowers,DalalStreetMumbai-400001.
(b) NationalStockExchangeofIndiaLimited(NSE)ExchangePlaza,BandraKurlaComplex,Bandra(E),Mumbai-400051.
TheStockCodesallottedbytheseStockExchangesareasfollows:
Name Code
BombayStockExchangeLimited 532529
NationalStockExchangeofIndiaLimited NDTVEQDematISINNumbersinNSDLandCDSL INE155G01029
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Thelistingfeeforthenancialyear2011-12hasbeenpaidtoBombayStockExchangeLimitedandNationalStockExchange ofIndia Limited.TheCompanyhas also paid annualcustodian fee for the year 2011-12 toNSDL &CDSL.
Market Price Data (Face vale of Rs. 4/- per sare)
Mont Bombay Stock
Ecange Limited
(In Rs. per sare)
National Stock
Ecange of India Limited
(In Rs. per sare)
hig Lo hig Lo
April 2010 131.40 115.00 131.50 117.20
May 2010 123.00 91.30 121.85 96.00
June 2010 115.40 90.30 114.70 90.25
July 2010 115.55 102.15 115.60 102.65
August 2010 130.00 100.25 130.30 98.20
September2010 119.90 107.35 119.85 107.00
October2010 117.00 101.20 116.80 102.10
November2010 109.45 85.00 109.45 83.15
December2010 95.00 79.25 95.00 80.00
January 2011 90.80 73.00 90.60 73.00
February2011 78.45 65.10 78.90 65.10
March 2011 76.95 65.00 77.50 62.25
Performance in comparison to BSE Sense
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Sareolding Pattern
The shareholding pattern of the Company as on March 31, 2011 is as under:
NAME OF ThE COMPANY : NEw DELhI TELEVISION LIMITEDSCRIP CODE : 532529-NDTV NAME OF ThE SCRIP : NEw DELhI TELEVISION LIMITED CLASS OF SECuRITY :
EQuITY
NOT APPLICABLE
Partly paid-p sares No. of partly paid-p sares As a % of total no. of partly
paid-p sares
As a % of total no. of
sares of te Company
Heldbypromoter/promotergroup 0 0 0
Heldbypublic 0 0 0
Total 0 0 0
Otstanding convertible secrities: No. of otstanding
secrities
As a % of total no. of
otstanding convertible
secrities
As a % of total no. of
sares of te Company
assming fll conversion of
te convertible secrities
Heldbypromoter/promotergroup 0 0 0Heldbypublic 0 0 0
Total 0 0 0
warrants: No. of arrants As a % of total no. of
arrants
As a % of total no. of
sares of te Company,
assming fll conversion of
arrants
Heldbypromoter/promotergroup 0 0 0
Heldbypublic 0 0 0
Total 0 0 0
Total paid-up capital of the Company,
assuming full conversion of warrants
andconvertiblesecurities
Category
code
Category of
sareolder
Nmber
of sare-
olders
Total
nmber
of sares
Nmber
of sares
eld in
demateri-
alized form
Total sareolding
as a percentage of
total nmber of
sares
Sares pledged
or oterise
encmbered
As a
percentage
of (A+B)
As a
percentage
of (A+B+C)
Nmber
of sares
As a
percentage
(Ix)=(VIII)/
(IV)*100
(I) (II) (III) (IV) (V) (VI) (VII) (VIII) (Ix)
(A) PROMOTER AND
PROMOTER GROuP
(1) INDIAN
(a) Individuals/HinduUndividedFamily
2 20801240 20800831 32.26 32.26 0 0.00
(b) CentralGovernment/StateGovernment(s)
0 0 0 0.00 0.00 0 0.00
(c) Bodies Corporate 1 18813928 18813928 29.18 29.18 0 0.00
(d) FinancialInstitutions/Banks 0 0 0 0.00 0.00 0 0.00
(e) AnyOther(Specify) 0 0 0 0.00 0.00 0 0.00
Sb-Total (A) (1) : 3 39615168 39614759 61.45 61.45 0 0.00
(2) FOREIGN
(a) Individuals(NonResidentIndividuals/ForeignIndividuals)
0 0 0 0.00 0.00 0 0.00
(b) Bodies Corporate 0 0 0 0.00 0.00 0 0.00
(c) Institutions 0 0 0 0.00 0.00 0 0.00
(d) AnyOther(Specify) 0 0 0 0.00 0.00 0 0.00Sb-Total (A)(2) : 0 0 0 0.00 0.00 0 0.00
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Category
code
Category of
sareolder
Nmber
of sare-
olders
Total
nmber
of sares
Nmber
of sares
eld in
demateri-alized form
Total sareolding
as a percentage of
total nmber of
sares
Sares pledged
or oterise
encmbered
As a
percentage
of (A+B)
As a
percentage
of (A+B+C)
Nmber
of sares
As a
percentage
(Ix)=(VIII)/
(IV)*100
(I) (II) (III) (IV) (V) (VI) (VII) (VIII) (Ix)
Total Sareolding of
Promoter and Promoter
Grop (A)=(A)(1)+(A)(2)
3 39615168 39614759 61.45 61.45 0 0.00
(B) PuBLIC ShAREhOLDING NA NA
(1) INSTITuTIONS NA NA
(a) MutualFunds/UTI 2 596854 596854 0.93 0.93
(b) FinancialInstitutions/Banks 4 164957 164957 0.26 0.26
(c) CentralGovernment/StateGovernment(s)
0 0 0 0.00 0.00
(d) Venture Capital Funds 0 0 0 0.00 0.00
(e) Insurance Companies 0 0 0 0.00 0.00
(f) Foreign Institutional Investors 8 11389498 11389498 17.67 17.67
(g) Foreign Venture CapitalInvestors
0 0 0 0.00 0.00
(h) AnyOther(Specify) 0 0 0 0.00 0.00
Sb-Total (B)(1) : 14 12151309 12151309 18.85 18.85
(2) NON-INSTITuTIONS NA NA
(a) Bodies Corporate 769 3737729 3737729 5.80 5.80
(b) Individuals
(i)Individualshareholdersholding nominal share
capital up to Rs.1 lakh
35150 7347762 7328467 11.40 11.40
(ii)Individualshareholdersholding nominal share
capital in excess of Rs.1
lakh
21 1283950 1283950 1.99 1.99
(c) AnyOther(Specify)
ClearingMembers 136 174935 174935 0.27 0.27
NonResidentIndians 231 158814 158814 0.25 0.25
Trust 3 1600 1600 0.00 0.00
Sb-Total (B)(2) : 36310 12704790 12685495 19.71 19.71
Total Pblic Sare holding
(B)=(B)(1)+(B)(2)
36324 24856099 24836804 38.55 38.55 NA NA
Total (A)+(B) 36327 64471267 64451563 100.00 100.00
(C) Sares eld by cstodians
and against ic
Depository Receipts ave
been issed
0 0 0 NA 0.00 NA NA
(1) Promoter and Promoter
Grop
(2) Pblic
GRAND TOTAL (A)+(B)+(C) : 36327 64471267 64451563 100.00 100.00 0 0.00
NA: Not Applicable
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Distribtion of Sareolding, as on Marc 31, 2011 is as nder:
Category Sareolders Face vale of Rs.4/- per sare
Nmber % Amont (Rs.) %
1-5000 35,221 96.96 1,55,32,788 6.02
5001 - 10000 462 1.27 34,10,480 1.32
10001 - 20000 286 0.79 43,21,200 1.68
20001 - 30000 112 0.31 26,99,424 1.05
30001 - 40000 82 0.23 28,57,644 1.11
40001 - 50000 49 0.13 21,75,260 0.84
50001 - 100000 66 0.18 42,44,788 1.65
100001&Above 49 0.13 22,26,43,484 86.33
Total 36,327 100 25,78,85,068 100.00
Dematerialization of Sare and Liqidity
AsonMarch31,2011only19,704sharesconstituting0.03%ofthetotalequitycapitalare inphysicalform.ThesharesofNewDelhiTelevisionLimitedareactivelytradedonStockExchanges.
Employee Stock Option Plan (ESOP 2004)
TheCompanyhadinstitutedtheEmployeeStockOptionPlan-ESOP2004tograntequity-basedi ncentivestoallitseligibleemployees.TheESOP2004asapprovedbytheshareholdersonSeptember19,2005providesforgrantof4,057thousandoptionstoemployeesoftheCompanybytheESOPCommitteeatanexercisepric eofRs.4/-each,representing one share for each option upon exercise. The maximum tenure of these options granted is 7 years from
the date of grant.
Further, during the earlier years, the Company has amended the ESOP 2004 Scheme incorporating a clause giving
the employees a right to surrender the options. Consequently, employees holding options equivalent to 18,01,925
have exercised their right to surrender.
The details as per the requirements of SEBI (ESOS & ESPS) Guidelines, 1999 are annexed to the DirectorsReport.
Employee Stock Prcase Sceme 2009 (ESPS 2009)
Duringtheyear2008-2009,theCompanyhadinstitutedtheEmployeeStockPurchaseScheme2009(theScheme)foremployeesoftheCompanyanditssubsidiariesbygrantingsharesthereunder.TheschemewasformulatedinaccordancewiththeSEBI(ESOS&ESPS)Guidelines,1999.
TheSchemewasapprovedbytheshareholdersonMarch10,2009,throughapostalballotprocessandprovidesforallotmentof21,46,540equitysharestotheeligibleemployeesoftheCompanybytheESOP&ESPSCommitteeatanexercisepriceofRs.4/-each.
Duringtheyear,theCompanyhasallotted11,740equityshares(previousyear17,41,435equityshares)totheeligibleemployeesoutof17,64,425equitysharesissuedonMarch31,2009.
The details as per the requirements of SEBI (ESOS & ESPS) Guidelines, 1999 are annexed to the DirectorsReport.
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Registrar and Sare Transfer Agent
Registrar and Share Transfer Agent of the Company is:
KarvyComputersharePrivateLimitedUnit:NewDelhiTelevisionLimitedPlotNo.17-24VittalraoNagar,MadhapurHyderabad-500081.Phone : 040-44655000
Fax : 040-23420814
E Mail : [email protected]
Sare Transfer System
Requests for share transfers, rematerialisation and transposition are approved by Shareholders and InvestorsGrievance Committee. The share certicate is returned/ issued within the time period as stipulated under TheCompaniesAct,1956,TheDepositoriesAct,1996,ListingAgreementandotherapplicablerulesandregulations.
TheCompanyhasnotissuedanyGDRs/ADRs/WarrantsoranyConvertibleInstruments.
Addresses for Correspondence
Plant Locations:
The Company does not have any manufacturing or processing plants.
Investors Correspondence:
For transfer of shares in physical form and rematerialisation:
KarvyComputersharePrivateLimitedUnit:NewDelhiTelevisionLimitedPlotNo.17-24VittalraoNagar
MadhapurHyderabad-500081.Phone : 040-44655000
Fax : 040-23420814
E-mail : [email protected]
For Shares held in demat form:
To the respective depository participant.
Any qery on Annal Report:
The Company Secretary
NewDelhiTelevisionLimited
RegisteredOfce:-207, Okhla Industrial Estate, Phase III
NewDelhi-110020.Phone : 011-46176300
Fax : 011-41735110
E-mail : [email protected]
For and on bealf of te Board
Place: NewDelhi Dr. Prannoy Roy
Date : May 3, 2011 Cairman
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Management's Discssion
and Analysis
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MANAGEMENTS DISCuSSION AND ANALYSIS
Key Alliances
NDTVconcludedadenitiveagreementwithasubsidiaryofMalaysianmediagroupAstroAllAsiaNetworksPlcto
createastrategicallianceforlifestylechannelsinIndiainSeptember2010.SouthAsiaCreativeAssetsLimited,a
subsidiaryofAstroAllAsiaNetworksplc,acquireda49percentstakeinNDTVLifestyleHoldingsPrivateLimited,
infusing$40millionintothecompanyintwotranches,valuingthermataroundRs375crore.
InMarch2011,thecompanyhasenteredintoave-yeardealwithSTARIndiaforexclusiverepresentationfor
advertisingsalesforNDTVsnewschannels,inIndia.IthasendeditscontractwithAIDEMVentures.Underthe
airtimesalesalliance,STARwillbethesoleandexclusiverepresentativeofNDTVtoconductadvertisingsalesfor
allNDTVnewschannelsNDTV24x7,NDTVIndiaandNDTVProt.Inadditiontofrontlinesales,StarIndiawillalso
beresponsibleforcommercialback-ofcemanagementsuchastrafc,scheduling,billingandcollections.Itishoped
thatthecombinationoftheNDTVnewsbrandandSTARsleadershipwillunlocksignicantvalueforNDTV.
NDTVtiedup withinternationalchildrenschannel KidsCoforexclusivedistribution;it willrepresentthe channel
acrossIndia,acrossalldigitalplatforms.Thetie-upwillbringchildrensprogrammingtofamiliesintheregion.
Maintaining Dominance
NDTV24x7continuedtobetotallydominantwithamarketleadershippositionintheEnglishNewsgenrewiththree
nationwide surveys showing viewership of 50 per cent to 60 per cent and the other English news channels sharing
40-50percent.( ref:NielsenUMAR,Gfk-MODE).TheNielsenUMARsurvey2009establishedN DTV24x7asthe
mostwatchedEnglishnewschannelwithover60%viewership.IntheEnglishsegment,NDTVP rotmaintainsits
numbertwopositionandiswidelyrecognizedasIndiasmostcredibleandtrustworthybusinessnewschannel.Italso
successfullyhostedtheprestigiousBusinessLeadershipAwardslastyearinMumbaionSeptem ber1,2010,and
wasgracedbytheUnionFinanceMinister,ShriPranabMukherjee.
MovingontotheHindisegment,NDTVIndiaisrecognizedas thenationsonlynon-tabloid,credibleHindinews
channel.ThechannelhasmaintaineditssharedespiteincreasedentertainmentcontentonotherHindinewschannels.
AsaresultadvertisersarepayingahigherratepereyeballperslotthanmanyotherHindichannels.Thisisbecause
NDTV,asaresponsiblemediagroup,hasalwayssteeredawayfromsensationalism.Responsiblejournalismhas
beenthecornerstoneofNDTVsevolutionasthemostcrediblenewsnetwork.
Converging For Grot
Thenancialyear2010-11turnedouttobeasignicantyearforNDTVConvergence.Infact,theinternetandmobile
companyhasposteda48percentyearonyearincreaseinrevenuesforthescalyearendedMarch2011andhas
recordedanetprotfortheyear.Thevariousportalsownedbythedivision--NDTV.com,aswellassubsitesNDTVProt,Khabar,Movies,Cricket,Doctor,Cooks,GoodTimes,andvideositeTubaah--togetherhavereachedarecord
of 286 million page views in March 2011.
Withrapidgrowth,pageviewsofthedifferentportalshaveincreasedbyover100percentinthelastsixmonthsand
isnowtargetingclosetoabillionpageviewsbytheendoftheyear.Thewebsiteisalsoprojectedtostreamabillion
minutesofcontentthisyear.Now,NDTVConvergenceisexpectedtogrowrapidlywith3Gandbroadbandwireless
comingin.NDTVConvergencehasalsobeenaleaderinthemobilespace,workingwithalloperatorsinthe2Gand
3Genvironmentwithadenedapplicationstrategyinplace.Theapplicationswereavailableacrossallplatformsand
devicesbyendofNovember2010.
Videoandmobileremainedareourkeythrustareas.NDTVsiPhoneapplicationwasthenumberoneapplicationin
India,andamongthetoptenappsincountriesliketheUKandUAE.Thecompanyhaslaunchedthedesktopplayer
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andmobileapplicationsforAndroidandBlackBerryusersinNovember,2010.Thisfollowedthelaunchofapplications
fortheiPadandtheiPhone.TheiPadandiPhoneapplicationshaveconsistentlybeenthetopperformingnewsapps
in India, with 200,000 downloads since the launch.
Further,NDTVMusichasbeenlaunchedinpartnershipwithHungama,themarketleaderintheentertainmentspace.
Indoingso,GroupNDTVhassuccessfullytransformeditselfintoatotalmediaorganization.
widening te world
TherehasbeenaurryofactivitiesatNDTVWorldwide.First,thecompanyenteredintoanagreementwithIndiaCan
forabroadcastjournalismtrainingprogrammethatleveragesthestrengthsofbothpartners.IndiaCanisajoint
venture between Educomp (Indias largest education company) and Pearson (an international media company
withworld-leadingbusinessesineducation,businessinformationandconsumerpublishing).Therstbatchofthe
programmehasbeenlaunchedinNewDelhi.
ThecompanyhasalsobeeninvolvedinthreechannellaunchesforclientswithinIndiaandabroad.Inallthese
projects,NDTVWWprovidesconsultancyonallaspectsofbroadcasttelevisionincludingtechnologydesign,content
planning,operationalsetup,channelbrandingandbroadcasttraining.TheprojectsincludetheIndependentTelevision
forBeximcoGroupinBangladesh,MathrubhumiNewsinHD(HighDenition)forMathrubhumiGroupinKeralaand
SentinelNewsfortheSentinelGroupinAssam.ThelaunchdatesforthechannelshavebeensetforApril,August
and MayJune 2011 respectively.
Itisexpectedthattheexpansionofthissubsidiarywillberapidin2011-12,bothinIndiaandoverseas.
Realigning Global holdings
Tosimplifyinternationalholdings,10percentdirectstakeinNDTVBVand50percentstakeinEmergingMarketsBV
hasbeentransferredtoNDTVNetworksBVandNDTVBVhasbeenmergedwithNDTVNetwork sBVonOctober
15,2010.Also,theshares heldinNDTVLifestyleLimited,NDTVConvergenceLimited,NDTVLabsLimitedandNGENMediaServicesPrivateLimitedbyNDTVNetworksplc.havebeentransferredtostepdownsubsidiariesin
India.Apartfromthis,NDTVNetworksBVandNDTVMiddleEastVenturesFZ-LLCwereliquidated.
Jst Case, Bigger Sccess
Initsthirdedition,theNDTV-ToyotaGreenathonwasbiggerandgreenerasitexpandeditsreachinternationally,with
GreenathonhubsinTokyo,LosAngeles,Toronto,LondonandSydney.Itreceivedanoverwhelmingresponseand
garnered support from all corners of the world, including the countrys leading corporate houses, top Bollywood stars,
musicians,environmentalists,NGOsandeducationalinstitutions.
Some ofthe signicant corporate contributorsincludedPower FinanceCorporation, which adopted 169 villages;
UnionBankofIndiadonatedRs.2croresandadopted100villages.ICICIBankdonatedRs1crorefor90villagesandtheRuralElectricationCorpsignedupfor45villageswithRs90lakhs.TERItookon10villageswhileIMFA
donatedRs10lakh.ShahrukhKhantoppedthelistofcelebritiesbyadopting11villages,whileKaranJohar,Priyanka
ChopraandShahidKapooradoptedvevillageseach.ActorMilindSomanran550kmfromAhmedabadtoMumbai,
in 15 days, to raise awareness for the environment. Also supporting the Greenathon were Environment Minister
JairamRameshandDr.FarooqAbdullah,MinisterforNewandRenewableEnergy.
YearOneofGreenathon(2009)supported56villages,Greenathon2raisedoverRs2.5croresbutthisyearNDTV-
ToyotaGreenathon3 hasgenerated over Rs11crore60 lakhs,that willlightup580 villages.TheNDTV-Toyota
GreenathonCampaignisnowthemostcredibleplatformtogalvanisepeoplewhobelieveinagreenertomorrow.
In2008,NDTVwasthersttodrawtheattentionofcitizensandgovernmenttotherapiddeclineoftigerpopulationin
India. Our signature campaignSaveOurTigersledtothesettingupofSpecialTigerProtectionForcebythePrime
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Minister.Aircelhasadoptedthiscauseonalargerscale.NDTVsassociationwithAircelhasaddedfreshimpetus
tothecampaign.Thehighlightofthecampaignhasbeenthelive,non-stopprogrammingfora dayinDecember
2010dedicatedtotigers,withtheaimofcreatingpublicoutcryandhelpingtoraisefundstoprotectourtigersfrom
extinction.Actor andsuperstarAmitabh Bachchan is thebrand ambassador for thiscampaign.Yesteryears star
Dharmendraurgedthepeopletojointhecampaignanddotheirbit.
The 12-hour Save Our Tigers telethon raised Rs 5 crore to set up tiger task forces in key reserves across the country
- a force that can respond to any emergency. To implement this on the ground we have a dedicated partnership
pledgefrom theWildlife ConservationTrust (WCT).Additionally, The TigerAgenda waspresented to theChief
Ministers of eight states for implementation.
Te winner Takes It All
OnceagainNDTVswepttheNewsTelevisionAwardsfor2010acrossdifferentcategories.ShowssuchasTheBuck
StopsHere,WeThePeople,JaiJawan,TheGameChangers,IndiaDecides@9andTheBigFighthavebaggedNT
Awardsalongwithacoupleofpromotionalcampaignsthathavealsobeenawarded.NikhilNazhasbeenawardedSportsNewsShowPresenteroftheYear.NDTV.comreceivedtheSpecialAwardforBestNewsChannelWebsite.
NDTVIndiabagged10NewsTelevisionAwards--ViraatSamundarKaSikander(BestPresentedPopularNews
ShowHindi),AmanKaZaika(BestLifestyle&FashionNewsShowHindi),HumLog(BestPublicDebateShow
Hindi),JaiJawan(BestEntertainmentFeatureHindi),RavishKiReport(BestCurrentAffairsFeatureHindi),Aman
KaPul(BestCurrentAffairsProgrammeHome&International,Hindi),AbDilliDoorNahi(BestSportsFeature
Hindi),VinodDuaLive(BestDailyPrimeTimeNewscastHindi),AfshanAnjum(BestSportsNewsShowPresenter
Hindi)andParimalKumar(BestTVNewsReporterHindi).
ChhooneDoAasmanwasadjudgedBestNewsDocumentaryintheIndianNewsBroadcastingAwa rds,2010.Neeta
SharmawasawardedtheHindiNewsReporteroftheYear2010.MehrajDubeywontheBusinessNewsAnchorof
theYear2010(Hindi)andNidhiKulpatiwaschristenedNewsShowHostoftheYear2010(Hindi).
TheCommonwealthBroadcastingAssociationAwards2010alsohonouredNDTV24x7thatincludedtheCBA-IBC
Award for Innovative Engineering, One World Media Award for Extending Audience Reach and The Greenathon.
TheRollofHonourwasreservedforMrK.V.L.NarayanRao,CEOofNDTVGroup.
IndiaDecideswasadjudgedtheBestNewsShowoftheYear2010(English)attheIndianNewsBroadcasting
Awards(INBA)2010.TheNewsShowHostoftheYear2010(English)wasNidhiRazdanforLeft,Right&Centre,
andNewsTelevisionEditor-in-ChiefoftheYear2010wasawardedtoBarkhaDutt.NDTVProtssMahendraAuto
QuizwasadjudgedtheBestQuizShowattheIndianTelevisionAcademyAwards(ITA)2010.WhileSecretLives
wontheBestMiniSeriesattheITA2010,SutapaDebwontheUNFPA-LaadliMediaAwardsForGenderSensitivity
forModernLoveStoriesalongwithRedDotProductionsforChhooneDoAasman.
No Mere Pie in te Sky
TelevisionsawatremendousincreaseinthenetDTHsubscriberbasetotalingto28millionattheendof2010
Backedbygrowthinadvertisingandsubscriptionrevenues,thetelevisionindustrygrewby15.5percentin2010and
isexpectedtogrowataCAGRof16percenttotouchINR630billionby2015.Televisionisexpectedtoaccount
foralmosthalfoftheIndianM&Eindustryrevenues,andmorethantwicethesizeofprint,thesecondlargestmedia
sector.
Thedirect-to-home(DTH)marketinIndiaadded10millionsubscribersin2010takingthenumberofactivecustomers
toover23million.DTHachievedrobustgrowthof75percentinnetsubscriberbase.Withtheregulatorypushon
digitization, ongoing 3Grollouts, increasing mobileand broadbandpenetration, themarketfor digitaldistribution
platforms is only expected to grow.
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Annual Report 2010-11
Financial Statements38
TheGovernmentsthrustondigitizationandaddressabilityforcabletelevision,isexpectedtoincreasethepaceof
digitizationleadingto tremendousgrowthin DTHanddigitalcable.TRAIhassubmittedrecommendationstothe
governmenttoincreasetheFDIlimitsacrossseveralbroadcastanddistributionplatformsTV,DTHandcable.Asthe
government,regulatorybodiesandmembersoftheindustryactivelyworktogether,reformsthataidthedevelopment
of Indian media companies will act as a catalyst to the growth of the sector.
It All Adds up
TheTVindustrywasintroublethelastfewyears.Advertisingrevenuegrowthhadslowed,contentandcarriagecosts
doubledinthelastfouryears.Payrevenuesstagnatedat10to15percentofthetoplineformostbroadcasters.The
operatingmarginsfortheindustryhalvedinthelastveyears.Thetitleofbeingtheworldssecond-largestcableTV
marketdidnotamounttomucheitherinreturnsforinvestorsorprot