(b) Provisions
The timing of recognition and quantification of the liability require the application of judgement to existing facts and
circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and
adjusted to take account of changing facts and circumstances.
(c) Defined benefit plans
The employment benefit obligations depends on a number of factors that are determined on an actuarial basis using a number
of assumptions. The assumptions used in determining the net cost/ income include the discount rate, inflation and mortality
assumptions. Any changes in these assumptions will impact upon the carrying amount of employment benefit obligations.
The discount rate is based on the prevailing market yields of Government of India bonds as at the Balance Sheet date
for the estimated term of the obligations.
The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority,
promotion and other relevant factors including supply and demand in the employment market. The above information
is certified by the actuary.
v Sensitivity Analysis
Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected
salary increase and employee attrition rate. The sensitivity analysis below, have been determined based on reasonable
possible change of the assumptions occurring at the end of the reporting period, while holding all other assumptions
constant. The result of Sensitivity Analysis is given below:
vii These Plans typically expose the Company to actuarial risks such as: Interest Risk, Longevity Risk and Salary Risk.
Interest Risk - A decrease in the discount rate will increase the plan liability.
Longevity Risk - The present value of the defined benefit plan liability is calculated by reference to the best estimate
of the mortality of plan participants. An increase in the life expectancy of the plan participants will increase the plan’s
liability.
ii COMMITMENTS
The Company does not have any Capital Commitments as on 31st March, 2024 (Previous year Nil).
28 The Company had closed the printing press business and discontinued the printing operations.
As at 31st March 2024, the carrying amount of such assets and liabilities of discontinued operations which were not disposed off
for previous year was ? 952.77 lakhs (previous year ? 939.01 lakhs) and ? 92.49 lakhs (previous year ? 65.53 lakhs) respectively.
During the year, the Company has used cash in operating activities (discontinued operations) ? 106.81 lakh (Previous year ? 99.53
lakh) and cash flow from investing (discontinued operations) and financing activities (discontinued operations) is Nil ( Previous
year Nil).
30 CAPITAL AND FINANCIAL RISK MANAGEMENT
30.1 CAPITAL MANAGEMENT
The Company manages its capital to ensure that it will continue as going concern while maximising the return to stakeholders
through the optimisation of the debt and equity balance with support from the parent company.
30.2 FINANCIAL RISK MANAGEMENT
The Company’s activities exposes it mainly to credit risk, liquidity risk and market risk. The treasury team identifies and
evaluates financial risk in close coordination with the Company’s business teams.
i CREDIT RISK
The Company is exposed to credit risk from its financing activities.
ii LIQUIDITY RISK
The Company closely monitors its risk of shortage of funds. The Company’s objective is to maintain a balance between
continuity of funding and flexibility. The Company assessed the concentration of risk with respect to its debt as medium.
As at reporting date, the Company’s term loan and all other financial liabilities of the Company are medium term. Further,
the Company believes that carrying value of all of its financial liabilities including debt approximates its fair value.
31.1 The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either
observable or unobservable and consist of the following three levels:
Level 1: Inputs are Quoted prices (unadjusted) in active markets or Net Assets Value (NAV) for identical assets or liabilities.
Level 2: Inputs are other than the quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3: Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or
in part using a valuation model based on assumption that are neither supported by prices from observable current market
transactions in the same instrument nor are they based on available market data.
31.2 Valuation Methodology
All financial instruments are initially recognised and subsequently re-measured at fair value as described below:
a. The fair value of investment in quoted Equity Shares and Mutual Funds is measured at quoted price or Net Asset Value
(NAV), as applicable.
b. The fair value of the remaining financial instruments is determined based on adjusted quoted price of underlying assets,
information about market participants, assumptions and other data that are available including using discounted cash
flow analysis, as applicable.
$$ Capital employed includes Equity, Borrowings and reduced by Cash and Cash Equivalents..
33 Details of Loan given, Investment made and Guarantee given covered u/s 186 (4) of the Companies Act, 2013
(a) No loan given by the Company to body corporate as at 31st March, 2024 and 31st March, 2023.
(b) No investment made by the Company as at 31st March, 2024 and 31st March, 2023.
(c) No Guarantee has been given by the Company as at 31st March, 2024 and 31st March, 2023.
34 The Company had discontinued its operations in the previous years and has incurred net loss of ? 387.29 lakh during the year ended
31st March, 2024 and as of that date the Company’s accumulated losses amount to ? 10,613.78 lakh which has resulted in negative
net worth of the Company. The Management is evaluating various options, including starting a new line of business. Network18
Media & Investments Limited, the Holding Company, has given a support letter to extend, for the foreseeable future, any financial
support which may be required by the Company. Considering these factors, the financial statement have been prepared on a going
concern basis.
35 The Company has discontinued its operations, hence there is no separate reportable business or geographical segments as per Ind
AS 108 “Indian Accounting Standard on Operating Segments”.
36 There are no balance outstanding as on 31st March, 2024 and 31st March, 2023 on account of any transaction with companies
struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act,1956.
37 OTHER STATUTORY INFORMATION
(a) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the company (Ultimate Beneficiaries) or
(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(b) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the Company shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party (Ultimate Beneficiaries) or
(ii) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(c) The Company does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.
38 Previous year’s figures have been regrouped wherever necessary to make them comparable to current year’s figures.
39 The financial statements were approved for issue by the Board of Directors on 17th April, 2024.
As per our Report of even date.
For Chaturvedi & Shah LLP For and on behalf of the Board of Directors
Chartered Accountants Infomedia Press Limited
Registration No 101720W/W100355
Vijay Napawaliya Lalit Kumar Jain Vivek Jain Ramesh Kumar Damani Kshipra Jatana
Partner Chairman Director Director Director
Membership No. 109859 DIN : 01451886 DIN : 00005034 DIN : 00049764 DIN : 02491225
Ratnesh Rukhariyar Karanvir Singh Gill Ketan Kishore Ravesia Sanjeev Kumar Singh
Director Director Chief Financial Officer Manager
DIN : 00004615 DIN : 07283590
Tasneem Cementwala
Date: 17th April 2024 Company Secretary
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