HINDUJA VENTURES LIMITED (‘HVL’) AUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2018

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

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Standalone total income for the year end Rs. 242.60 Crores

PAT Rs. 125.65 Crores

 

Recommendation of Dividend at 175% for the financial year 2017-2018

 

The Board of HVL at its meeting held today approved audited standalone and consolidated financial results for the year ended March 31, 2018.

 

HVL Standalone Results: -

 

  • The net profit after tax stood at Rs.125.65 Crores for the financial year ended March 31, 2018 as against Rs. 102.90 Crores for the financial year ended March 31, 2017.

 

  • HVL on standalone basis reported a total income of Rs.242.60 Crores for the financial year ended March 31, 2018 as against Rs. 203.39 Crores for the financial year ended March 31, 2017.

 

Consolidated Financial Results: -

 

  • Consolidated total income for the financial year ended March 31, 2018 is Rs. 868.97 Crores as against to Rs. 826.00 Crores for financial year ended March 31, 2017.

 

  • Consolidated net loss after tax and minority interest for the financial year ended March 31, 2018 stood at Rs 255.54 Crores as against loss of Rs. 56.61 Crores for the financial year ended March 31, 2017.

 

The Scheme of Amalgamation between Grant Investrade Limited, a wholly owned subsidiary of the Company (“Transferor Company”) and the Company, namely, Hinduja Ventures Limited (“Transferee Company”) is pending before the National Company Law Tribunal [NCLT] for its approval. The appointed date of the Scheme of Amalgamation is October 01, 2017. Accordingly, the Standalone and Consolidated Financial Results of the Company for the year ended March 31, 2018 are approved by the Board of Directors without giving effect to the Scheme of Amalgamation. The effect of the said scheme, as it would affect the Company would be given in the books of account of the company on receipt of necessary statutory approvals.

 

Recommendation of Dividend: -

 

The Board has considered and recommended the dividend of 175% on face value of Rs. 10/- per share translating into Rs. 17.50 /- per share for the financial year 2017-2018 subject to the approval of the Members at the ensuing Annual General Meeting of the Company.

 

The dividend, if declared by the members of the Company, will involve a cash outflow of Rs. 43.37 Crores including Dividend Distribution Tax, representing 34.51% of the current year earnings without giving effect to the Scheme of Amalgamation between Grant Investrade Limited, a wholly owned subsidiary of the Company (“Transferor Company”) and the Company, namely, Hinduja Ventures Limited (“Transferee Company”).

 

IndusInd Media & Communications Limited (IMCL)

 

Restructuring focused on future growth:

 

With the combined benefits of Hybrid Satellite plus Fiber (HITS) and Fibre based Digital (Digital MSO) platforms; IMCL could garner one of the highest number of additional subscribers in cable based platform in the industry. It has been able to provide an innovative entrepreneurship model in the semi urban and rural areas, adding 3000 LCOs and other business partners.

 

IMCL continues to make inroads into the rural areas of India through its Head-end-in-the-Sky (HITS) NXT Digital platform. IMCL is the only Digital Platform Operator (‘DPO’) to be available in all 29 States and 5 Union Territories. This is due to major penetration in last 12 months into rural India utilizing NXT Digital HITS platform. This makes IMCL a truly PAN Indian high quality digital delivery platform. NXT Digital copes are active in 1123 codes with signals transmitted to 2103 pin codes in 1097 distinctive locations. IMCL overall is also available now in over 50% large cities and smart cities.

 

With the aim of creating value in the Media Business, the media subsidiary of the company, IMCL has been engaged in a focused restructuring exercise.  As part of this exercise, the Broadband business and the Fiber Optic Network have been sold and transferred to other group companies and complete focus is being put on the CATV and HITS business.  This is expected to create long term stakeholder value.

 

The Company feels that there is scope for deployment for DPO to an additional 30 million homes in the Rural Universe of 99 million homes. Another 20 million homes await power to households and will begin to watch television in next 3 years.

 

IMCL has already converted 95% of its subscription revenues to prepaid through the Local Cable Operator. The balance 5% homes are being rapidly converted to prepaid in the coming quarter. This will make IMCL the only 100% In Digital Cable/ NXT Digital HITS Digital Platform Operator in the country. It may be noted that 99% of NXT Digital is on prepaid model. All fresh activations are on prepaid model.

 

The Digital Platform Operator industry awaits the Madras High Court (third member judgment) on the 2017 New Digital Tariff Order/Regulations as it feels it can redefine the economics of the business with a fair distribution of revenue to all the stake holders in the TV signals distribution chain especially DPOs.

 

About Hinduja Ventures Limited (www.hindujaventures.com): -

 

Hinduja Ventures Limited (“HVL”) operates across three segments: media and communication, real estate, and investment and treasury. HVL is the Holding Company of one of India’s largest integrated media company i.e. IndusInd Media & Communications Limited (IMCL).

About Hinduja Group: -

 

The Hinduja Group is one of India’s premier diversified and transnational conglomerates. Employing over 100,000 employees, with presence across 38 countries it has multi-billion-dollar revenue. The Group was founded over a hundred years ago by Shri P.D. Hinduja whose credo was “My duty is to work so that I can give.”

 

The Group’s activities span across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance Services, Infrastructure Project Development, Oil and Gas, Power, Real Estate, Trading and Healthcare.

 

For further information contact:

Ashok Mansukhani

Managing Director

Hinduja Ventures Limited

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