NOTE 1: COMPANY OVERVIEW
T.V. Today Network Limited (hereinafter referred to as the ‘Company’) is a company limited by shares, incorporated
and domiciled in India. The Company’s equity shares are listed on the Bombay Stock Exchange and the National
Stock Exchange in India. The registered office of the Company is situated at F-26, First Floor, Connaught Circus,
New Delhi - 110001, India. The principal place of the business of the Company is situated at FC-8, Sector 16A, Film
City, Noida 201301, Uttar Pradesh.
The Company is primarily engaged in television news channels’ broadcasting and other media operations in India.
The Company also operates radio stations in Delhi, Mumbai and Kolkata locations (“Radio business”), which has
been presented as ‘discontinued operations’ in financial statements. (Refer note 25 “Radio broadcasting operations”
for details)
The financial statements were approved for issue in accordance with a resolution of the Board of Directors on May
22, 2025.
NOTE 2: BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICIES
2.1 Basis of preparation
a (a) Compliance with Indian Accounting Standards
These financial statements are prepared in accordance with the Indian Accounting Standards (Ind AS) as notified
under Section 133 of the Companies Act, 2013, read with Companies (Indian Accounting Standards) Rules, 2015
as amended from time to time, the relevant provisions of the Companies Act 2013, presentation requirements of
Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule III), as applicable to the financial
statement, guidelines issued by the Securities and Exchange Board of India (SEBI) and other recognised accounting
practices and policies, to the extent applicable.
These financial statements have been issued in addition to the consolidated financial statements of the Company
and its subsidiaries.
a(b) Functional and presentation currency
The financial statements are presented in Indian Rupees ('), which is the functional currency of the Company
and the currency of the primary economic environment in which the Company operates as prescribed under Ind
AS 21 “The effects of changes in foreign exchange rates”. All amounts disclosed in the financial statements and
notes thereof have been rounded off to the nearest crores, upto two decimal places as per the requirement of
Division II of the Schedule III to the Companies Act 2013, unless otherwise stated.
2.2 Material accounting policies
The Ministry of Corporate Affairs (MCA) has amended
Ind AS 1, mandating the disclosure of material
accounting policies and removal of obscuring policy
information. In compliance with these changes, the
Company has disclosed all material accounting
policies within the relevant notes to the standalone
financial statements.
The policies, which have not been specifically
mentioned in a particular note, have been presented
here.
These policies have been consistently applied to all
the years presented, unless otherwise stated.
^ (a) Current versus non-current classification of
assets and liabilities
All assets and liabilities have been classified as
current and non-current as per the Company’s normal
operating cycle. Based on the nature of services
rendered to customers and time elapsed between
deployment of resources and the realisation in cash
and cash equivalents of the consideration for such
services rendered, the Company has considered an
operating cycle of 12 months.
^ (b) Segment reporting
Since, the Annual financial statements of the Company
contains both the consolidated and separate financial
statements of the Company in accordance with the Ind
AS, hence as per Ind AS 108 - Operating segments,
segment reporting is only included in the consolidated
financial statements of the Company. Refer note 24 of
the consolidated financial statements of the Company
for segment reporting.
^ (c) Provision for liabilities
General
Provisions are measured at the present value of
management’s best estimate of the expenditure
required to settle the present obligation at the end of
the reporting period.
Provisions for legal claims and returns are
recognised when the Company has a present legal or
constructive obligation as a result of past events, it is
probable that an outflow of resources will be required
to settle the obligation and the amount can be reliably
estimated. Provisions are not recognised for future
operating losses.
Under Ind AS, where the original provision was
charged as an expense, any subsequent reversal
should be credited to the same line in the statement
of profit and loss in accordance with the principle of
consistency. Accordingly, the aforesaid provisions /
liabilities written back to the extent no longer required
have been credited to the respective expense line in
the statement of profit and loss.
^ (d) Fair value measurement
The fair value measurement is based on the
presumption that the transaction to sell the asset or
transfer the liability takes place either:
• In the principal market for the asset or liability, or
• In the absence of a principal market, in the most
advantageous market for the asset or liability.
The principal or the most advantageous market must
be accessible by the Company.
The fair value of an asset or a liability is measured
using the assumptions that market participants would
use when pricing the asset or liability, assuming
that market participants act in their economic best
interest.
A fair value measurement of a non-financial asset
takes into account a market participant’s ability to
generate economic benefits by using the asset in its
highest and best use or by selling it to another market
participant that would use the asset in its highest and
best use.
The Company uses valuation techniques that
are appropriate in the circumstances and for which
sufficient data are available to measure fair value,
maximising the use of relevant observable inputs and
minimising the use of unobservable inputs.
All assets and liabilities for which fair value is
measured or disclosed in the financial statements are
categorised within the fair value hierarchy, described
as follows, based on the lowest level input that is
significant to the fair value measurement as a whole:
• Level 1 — Quoted (unadjusted) market prices in
active markets for identical assets or liabilities
• Level 2 — Valuation techniques for which the
lowest level input that is significant to the fair value
measurement is directly or indirectly observable
• Level 3 — Valuation techniques for which the
lowest level input that is significant to the fair value
measurement is unobservable
For assets and liabilities that are recognised in the
financial statements on a recurring basis, the Company
determines whether transfers have occurred between
levels in the hierarchy by re-assessing categorisation
(based on the lowest level input that is significant to
the fair value measurement as a whole) at the end of
each reporting period.
Discussions of valuation processes and results
are held between the Chief Financial Officer, Audit
Committee and the finance team at least once in every
three months, in line with the Company’s quarterly
reporting periods and includes determination of the
policies and procedures for both recurring fair value
measurement, such as unquoted financial assets
measured at fair value.
External valuers are involved for valuation of
significant assets, such as valuation of investment
properties and radio business.
For the purpose of fair value disclosures, the
Company has determined classes of assets and
liabilities on the basis of the nature, characteristics
and risks of the asset or liability and the level of the
fair value hierarchy as explained above.
2.3 Critical estimates and judgements
The preparation of financial statements requires the
use of accounting estimates which, by definition,
will seldom equal the actual results. Management
also needs to exercise judgement in applying the
Company’s accounting policies.
This note provides an overview of the areas that
involved a higher degree of judgement or complexity,
and of items which are more likely to be materially
adjusted due to estimates and assumptions turning
out to be different that those originally assessed.
Detailed information about each of these estimates
and judgements is included in relevant notes together
with information about the basis of calculation for each
affected line item in the financial statements.
Critical estimates
The areas involving critical estimates are:
i) Estimation of provision for gratuity and compensated
absences - note 11
ii) Impairment of trade receivables - note 7.2 and 7.11
iii) Impairment of radio licence fees- note 5.1 and 25
iv) Estimation of deferred tax - note 8.1 and 8.2
v) Right-of-use assets - note 6.1 and 6.3
vi) Lease liabilities - note 6.2 and 6.3
vii) Investment properties - note 4
Critical judgements
The areas involving critical judgements are:
i) Estimate useful life of property, plant and
equipment, investment properties and intangible
assets - notes 3.1,4 and 5.1
ii) Estimation of provision for legal claim and
contingent liabilities - notes 7.9 and 19
iii) Revenue allocation for multiple element
arrangements - note 13
iv) Critical judgements in determining the lease term
- note 6
v) Classification of assets-held-for sale and
discontinued operations - note 25
Estimates and judgements are continually
evaluated. They are based on historical experience
and other factors, including expectations of future
events that may have a financial impact on the
Company and that are believed to be reasonable
under the circumstances.
2.4 Recent pronouncements
Application of new and revised Indian Accounting
Standards (Ind AS)
All the Ind AS issued and notified by the Ministry
of Corporate Affairs (‘MCA’) under the Companies
(Indian Accounting Standards) Rules, 2015 (as
amended) till the standalone financial statements are
authorised, have been considered in preparing these
standalone financial statements.
The Ministry of Corporate Affairs vide notification
dated September 9, 2024 and September 28, 2024
notified the Companies (Indian Accounting Standards)
Second Amendment Rules, 2024 and Companies (Indian Accounting Standards) Third Amendment Rules, 2024,
respectively, which amended/ notified certain accounting standards (see below), and are effective for annual
reporting periods beginning on or after April 1,2024
• Ind AS 117 “Insurance contracts”
• Ind AS 116 “Leases”
These amendments did not have any material impact on the amounts recognised in prior periods and are not
expected to significantly affect the current or future periods. The Company has not early adopted any standard,
interpretation or amendment that has been issued but is not yet effective.
Standard notified but not yet effective
The Ministry of Corporate Affairs vide notification dated May 7, 2025 has notified Companies (Indian Accounting
Standards) Amendment rules 2025 respectively, which amended/ notified certain accounting standards (see
below), and are effective for annual reporting periods beginning on or after April 1, 2025.
• Ind AS 21 “The Effects of Changes in Foreign Exchange Rates”
These amendments are not expected to significantly affect the current or future periods.
NOTE 3: PROPERTY, PLANT AND EQUIPMENT AND CAPITAL WORK-IN-PROGRESS [CWIP]
Note 3.1: Property, plant and equipment
©Accounting Policy
Property, plant and equipment are stated at cost of acquisition or construction less accumulated depreciation and
impairment losses, if any.
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life as prescribed in
Schedule II of the Companies Act, 2013, or as per technical assessment. Depreciation is provided on a straight-line
basis.
In case of certain class of assets, the Company uses different useful life than those prescribed in Schedule II of the
Companies Act, 2013. The useful life has been assessed based on technical advice, taking into account the nature
of the asset, the estimated usage of the asset on the basis of the management's best estimation of getting economic
benefits from those classes of assets.
(i) Contractual obligations
Refer to note 20 for disclosure of contractual commitments for the acquisition of property, plant and equipment.
(ii) Revaluation of property, plant and equipment
The Company has not revalued its property, plant and equipment during the reporting years.
Note 3.2: Capital work-in-progress
©Accounting Policy
Capital work-in-progress includes cost of property, plant and equipment under installation as at the reporting date.
Capital work-in-progress is stated at cost, net of accumulated impairment loss, if any.
Capital work-in-progress consist of the followings:
©Accounting Policy
Initial Recognition
Property that is held for long term rental yields or for capital appreciation or both, and that is not occupied by
the Company, is classified as investment property. Investment properties are measured initially at cost, including
related transaction costs as required by Ind AS 40 "Investment property”.
Subsequent Recognition
Subsequent to initial recognition, investment properties are stated at cost less accumulated depreciation and
accumulated impairment loss, if any. The Company depreciates investment property on a pro-rata basis on
the straight-line method over the estimated useful lives of the assets as prescribed under Schedule II to the
Companies Act, 2013, i.e. 60 years.
Impairment of investment property
An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable
amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. The
value in use is normally assessed using the discounted cash flow method.
For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately
identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets
(cash-generating units i.e. ‘CGU’). When the carrying amount of an asset or CGU exceeds its recoverable amount,
the asset is considered impaired and is written down to its recoverable amount.
The impairment testing is conducted at the end of every year or whenever the events or changes in circumstances
indicate that carrying amount may not be recoverable.
Fair value measurement
The Company obtains independent valuations for its investment properties at least once a year. The best evidence
of fair value is current prices in an active market for similar properties. Independent valuation is done by the
registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.
Refer note 2.2(d) in accounting policies for fair value measurement.
Note 5.1: Intangible assets
©Accounting Policy
The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite useful
life are subsequently carried at cost less accumulated amortisation and impairment losses, if any. Amortisation of
intangible assets is provided on a straight-line basis.
The Company has used the following useful lives of the intangible assets for amortisation:
Impairment of intangible assets
An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable
amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. The
value in use is normally assessed using the discounted cash flow method.
For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately
identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets
(cash-generating units i.e. ‘CGU’). When the carrying amount of an asset or CGU exceeds its recoverable amount,
the asset is considered impaired and is written down to its recoverable amount.
The impairment testing is conducted by the management at the end of every quarter or whenever the events or
changes in circumstances indicate that carrying amount may not be recoverable.
Fair value measurement
The Company obtains valuation report from independent valuer for its radio business at least once in a year.
Independent valuation is done by the registered valuer as defined under rule 2 of Companies (Registered Valuers
and Valuation) Rules, 2017. The intangible assets of radio business have been classified as “Assets-held-for sale”
as at March 31,2025. Refer note 25.1 for details.
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