ZEEL balance sheet 2013-14
-
Upload
rohit-pandey -
Category
Documents
-
view
218 -
download
0
Transcript of ZEEL balance sheet 2013-14
-
8/20/2019 ZEEL balance sheet 2013-14
1/176
ZEE ENTERTAINMENT
ENTERPRISES LIMITED
2013-14 ANNUAL REPORT
CIN No: L92132MH1982PLC028767
-
8/20/2019 ZEEL balance sheet 2013-14
2/176
00
ONE BRAND ZEE
8 22
DIFFERENT PERSPECTIVES. ONE WORLD. MESSAGE FROM THE CHAIRMAN
ZEE was established with the commitment
to deliver people a better choice of quality
entertainment.
ZEE is a young company at heart that
promotes refreshing ideas for India and
the world.
39
AWARDS & ACCOLADES
Punit Goenka, MD & CEO, ZEEL bags the
prestigious “Media Person of the Year” award
at the IAA Leadership Awards.
Today, ZEE is widely acclaimed in the
domestic and global media and entertainment
industry. The brand aids value creation in
diverse ways.
In a world of disappearing geographic
boundaries, people inevitably come
close to each other. People of differentnationalities comprise of what we call
at ZEE, One World.
WHAT’S
INSIDE
10
ZEE ENTERTAINMENT
ENTERPRISES LIMITED
2013-14 ANNUAL REPORT
CIN No: L92132MH1982PLC028767
-
8/20/2019 ZEEL balance sheet 2013-14
3/176
The vision of ‘One World’ has alway
held timeless allure for humanity,transcending barriers of geographielanguages, cultures and faith.
Technology is nowturning this vision intoreality. It is breachingage-old hurdles andwidening the world ofhuman aspirationsand entertainment.
At Zee EntertainmentEnterprises Limited(ZEE), we areproud to be a partof this movement forglobal solidarity.
We believeentertainment is a
great unifier, and ourinnovative content hastouched millions ofpeople globally.
Our creativity,technology edoperational exhave elevatedbenchmarks tnew height.
However, we to travel furthe
closer and winmore hearts.
We aim to bea leading globpowerhouse byear 2020, enand inspiring aviewers.
We are enlargbig picture to the world.
PERFORMANCE SUMMARY
22 Message from the Chairman
24 MD & CEO’s Message
26 Aiming Higher
28 One Knowledge Platform
30 Operational Canvas
32 A Wider Angle
34 Board of Directors
36 Senior Management Team
38 New Business Verticals
39 Awards and Accolades
40 Family starts with People
42 Business Responsibility
44 Corporate Information
STATUTORY REPORTS
46 Notice
54 Directors’ Report
62 Annexure to Directors’ Report
66 Report on Corporate Governance
86 Management Discussion and Analysis
100 Business Responsibility Report
FINANCIAL STATEMENTS
STANDALONE
110 Certification on Financial Statem
111 Independent Auditor’s Report
114 Balance Sheet
115 Statement of Profit and Loss
116 Cash Flow Statement
118 Notes
139 Last Five Years Financial Highlig
140 Performance Ratios - An Analys
CONSOLIDATED
141 Independent Auditor’s Report
142 Balance Sheet
143 Statement of Profit and Loss
144 Cash Flow Statement
146 Notes
167 Financial Highlights of Subsidia
Attendance Slip & Proxy Form
CORPORATE OVERVIEW
2 One ZEE. One Anthem.
4 Different Voices. One World.
6 One Minute to Know ZEE Better
8 Different Perspectives. One World.
10 One Brand ZEE
12 One World
18 Different Emotions. One World.
-
8/20/2019 ZEEL balance sheet 2013-14
4/176
2 ZEE ENTERTAINMENT ENTERPRISES LIMITED
ONE ANTHEM.ONE ZEE.
My India nestles beyond the seven seas Across the earth, across every nook and cornerMy India has forged bonds with hearts worldwideMy India transcends every border.
The world is my family.
ENGLISH
我的印度位於七大洋之側。
跨越陸地,跨過崎嶇坎坷,
印度與世界融合,
我的印度與世界不再有阻隔。
世界就是我的家。
CAN
Indiaku terletak nun jauh melangkatujuh lautan.Merentasi dunia, merentasi setiap sIndia telah memikat hati seluruh duIndiaku melangkaui setiap sempad
Dunia ini adalah keluargaku.
-
8/20/2019 ZEEL balance sheet 2013-14
5/176
Annual Report 2013-1
Моя Индия уютно примостилась за семью морями.
По всей Земле, в самых потаенных уголках.
Индия установила связи с сердцами по всему миру.
Моя Индия не знает границ.
Моя семья - весь мир.
RUSSIAN
gmV g‘§Xa nma ~gr h¡ ‘oao Xoím H s Xþ {ZYVu H m ha H moZm H moZm ‘oao Xoím H s Xþ {Zg~go [aíVm ~m§Y Mw H s h¡ ‘oao Xoím H s Xþ {gahX gr‘m bm§J MwH s h¡ ‘oao Xoím H s Xþ
dgw Y¡ d Hw Qw~H ‘
-
8/20/2019 ZEEL balance sheet 2013-14
6/176
4 ZEE ENTERTAINMENT ENTERPRISES LIMITED
DIFFERENT VOICES.ONE WORLD.
SHAH RUKH KHANFilm Actor / Producer
Q. WHAT DO YOU THINK HAS BEENZEE’S CONTRIBUTION TO THE ENTERTAINMENTINDUSTRY?
A. ZEE is like a Family to me. My association with this Family,
goes way back to the early nineties. To me, ZEE resonatesthe word “Entertainment”. Be it any genre, ZEE has proven to
be a leader. I personally like its current stance of envisioning
the entire World as One Family. I think it is an extremely noble
and generous approach, which only a Global Media Brand like
ZEE can embrace.
I PERSONALLY LIKE
ZEE’S CURRENT
STANCE OF
ENVISIONING THE
ENTIRE WORLD AS
ONE FAMILY.
-
8/20/2019 ZEEL balance sheet 2013-14
7/176
Annual Report 2013-1
MR. SAM BALSARA
Chairman and Managing Director Madison Communications Private Limited
MR. VIKRAM SAKHUJA Global CEO
Maxus Global
Q. What role does ZEE play for an advertiser’s investment
to grow?
Q. What are your thoughts on the Return on Investment (ROwhich ZEE delivers to the advertisers?
A. ZEE is the creator and father of theIndian Television and Entertainment industrythat reaches today to an audience of over730+ Million all over the world, and is oneof the most vibrant media companies in theworld. Generally, most innovators are notgood at building and enlarging on their initialdiscovery. But, ZEE has done that and today
A. ZEE’s ROI to brands comes frombeing the one-stop shop for reaching andconnecting with Indian families. To grow intoday’s environment brands need platformsthat provide reach, and content that brandsleverage to connect with consumers. As thepioneer of C&S in India, ZEE has always beenthe most dependable provider of reach to
commands a very substantial market sharwith a large bouquet that covers virtuallyevery genre and language. ZEE has alsodemonstrated over the years that while itpursues growth, it’s a disciplined soldier wit comes to cost control, and thereby delivoutstanding value to advertisers on one haand shareholders on the other.
Indians not only in India, but across the woBut importantly, in an increasingly digitalworld where a programme brand attemptsto reach individual consumers directly, ZEEbrand positioning Vasudhaiva Kutumbakamprovides the environment and enduringproperties that brands seeking families neto connect with consumers.
ZEE IS THE CREATOR
AND FATHER OF THE
INDIAN TELEVISION
AND ENTERTAINMENT
INDUSTRY
ZEE HAS ALWAYS BEEN THE
MOST DEPENDABLE PROVIDER
OF REACH TO INDIANS NOT
ONLY IN INDIA, BUT ACROSS
THE WORLD.
-
8/20/2019 ZEEL balance sheet 2013-14
8/176
6 ZEE ENTERTAINMENT ENTERPRISES LIMITED
ZEE has embraced theabove maxim from the IndianUpanishads (the meaning of
Vasudhaiva Kutumbakam), thereby elevating its brandidentity globally. ZEEwas established with thecommitment to deliverpeople a better choice of
TV and quality entertainment.Since inception, ZEE hasendeavoured to providedifferentiated entertainmentto people through multipleplatforms.
THAT IS YOU, THIS IS I, IS THE WAY
OF THE NARROW MINDED.
FOR THOSE OF EVOLVED THOUGHT,
THE WORLD IS ONE FAMILY.
33 FY 201432 FY 2013
NUMBER OF DOMESTIC CHANNELS
435 FY 2014383 FY 2013
ZEE’S AVERAGE TVT (IN MILLION)
670+FY 2013730+FY 2014TOTAL VIEWER BASE (IN MILLION)
ONE MINUTE TO KNOW ZEE BETTER
-
8/20/2019 ZEEL balance sheet 2013-14
9/176
Annual Report 2013-1
A GLOBAL MEDIA BRAND
ZEE has emerged as a frontrunner in themedia and entertainment industry, not in Inalone, but globally. ZEE’s audience reach a‘viewership share’ is growing from strengthto strength.
ZEE’s evolution as a global media brand isvindicated by its 730+ Million viewers, acro169 countries. The brand respect and recadrive diverse media offerings, comprising asubstantial proportion of earnings ofeach portfolio.
Such has been the success of brand ZEEthat it has been ranked as the number onemedia brand in prestigious rankings like thET 500 and BS 1000 list. The brand has abagged the IMC Fusion Award for Excellenin Media. It has been the achiever of the D& Bradstreet Rolta Corporate Award for twyears successively.
We believe our ‘One World’ philosophy hastrengthened brand ZEE significantly. Todabrand ZEE inspires trust across a wide crosection of people. It is pushing its boundaforward to realise its vision of being a leadglobal media powerhouse by the year 202
BRAND ZEE HAS
BAGGED THE IMC
FUSION AWARD
FOR EXCELLENCE
IN MEDIA, AND
HAS ALSO BEEN
THE ACHIEVER
OF THE DUN &
BRADSTREETROLTA
CORPORATE
AWARD FOR
TWO YEARS
SUCCESSIVELY.
Read more on “About
Brand ZEE” on page 10
Today, brand ZEE inspires trust across awide cross-section of people. It is pushing itsboundaries forward to realise its visionof being a leading global media powerhouse by the year 2020.
-
8/20/2019 ZEEL balance sheet 2013-14
10/176
8 ZEE ENTERTAINMENT ENTERPRISES LIMITED
DIFFERENT PERSPECTIVES.ONE WORLD.
AMANDA Business Development Manager, China
LEYLA ERZANUKAEVA Programming Head, UK
MARIA LIZA GINTINGCountry Head, Indonesia
MUHAMMAD DACCAK AVP – Programming, MENAP
DEVIKA Account Manager, Indian Ocean Islands & Francophone Africa
AYA MOHAMED,Programming Co-ordinator, MENAP
-
8/20/2019 ZEEL balance sheet 2013-14
11/176
Annual Report 2013-1
CONSUMER FOCUS
Our Company’s strategies are driven by the
needs of the consumer. Our success can bemeasured by the satisfaction achieved byour consumer.
EXCELLENCE
We accord a high premium to maintainingsuperlative standards throughout ourCompany. We encourage our employees tocome up with smarter ideas within the fastestpossible time.
CREATIVITY
Key to our value system is innovation and
originality. We recognise and have a highregard for individual expression andcreative freedom in our quest to provideconsumer satisfaction.
INTEGRITY
We observe strict ethical standards through
editorial independence and creativeexpression, in order to earn the trust of ourviewers and subscribers.
GROWTH DRIVEN
We are committed to delivering consistentrevenue and cash flow growth in order toprovide our shareholders a good return. Ourobjective is to grow our people, market andbusinesses around the world.
To become the world’s leading global media company from the emerging markets. As aCorporation, we will be driven by innovation and creativity and would focus on growth, whiledelivering exceptional value to our consumers, our viewers and all our stakeholders.
ONE VISION
ONEMISSION
-
8/20/2019 ZEEL balance sheet 2013-14
12/176
10 ZEE ENTERTAINMENT ENTERPRISES LIMITED
A business accustomed to evolving market dynamics,requires understanding and development of superior solutionsfor its consumers. It requires conscious efforts to build aculture to sustain and enhance its leadership position.
Corporate branding is the new-age tool tobuild a culture to adapt to market-drivenbusinesses. ZEE’s corporate brand is aconfluence of the Company’s vision, cultureand values with its systems and networks.
This builds a unique value proposition forconsumers. The contribution of the CorporateBrand to the Enterprise Value currently standsat 26% as on 31 March, 2014.
A corporate brand’s influence is typically seenin the context of stakeholder groups, such asemployees, consumers, investors, bankersand even governments. Today, ZEE is widelyacclaimed in the domestic and global media
and entertainment industry. The brand aidsvalue creation in diverse ways.
I n c u b a t i o n
an d L a u n
c h
P r ogr a m
m i n g
D i s
p u t e
Reso l u t i o n
P r o t e
c t ion
A d
v e r t i s
e r P red i c t a b
i l i t y
I
n v e s t o
r C onfi d e n
c
e
I n t e r n
a t i o nal E x p
a n s i o n
I n d u s
r t y
I n t e
r p re tat i o n
o f I n
t e r e s t s
R e c r u
i t men t o f T a l e
n t
R a i s
ing C a p i t a l
Sal e s
D is tr i b u t i o n
What does corporatebrand value of ZEE meanto the Company?
A corporate brand is the secondlargest asset-class contribution to theEnterprise Value, second only to theoperating intangibles.
This is attributable in large part tothe nature of business and the highbarriers of entry, which requires astrong pedigree.
Not surprisingly, the biggest role of thecorporate brand is in new business/ channel incubation and industryrepresentation.
In these segments, nearly half the valueis corporate reputation.
With reputation playing a key role indriving value, it is imperative that the3 drivers of pioneering, prudence andpredictable be invested into further.
ONEBRAND ZEE
-
8/20/2019 ZEEL balance sheet 2013-14
13/176
Annual Report 2013-1
26% The contribution of the CorporateBrand to the Enterprise Value as on31 March, 2014.
BRAND VALUATION FINDINGS
PIONEERING
A LEADER INMORE WAYS THANONE
PREDICTABLE
A TRUSTEDCOMPANY FORHEALTHY FINANCIARETURNS
PRUDENT
A BUSINESS MODELBUILT AROUND THEPRINCIPLES OFSUSTAINABILITY
Read more about “Our Brand
Pillars” from page 12 onwards
333KEY VALUE DRIVERSFOR BRAND ZEE
-
8/20/2019 ZEEL balance sheet 2013-14
14/176
12 ZEE ENTERTAINMENT ENTERPRISES LIMITED
PIONEERINGFORESEEING THE BIGPICTURE
How do we strengthen ourethos, ‘The World is my Family’ every single moment?
The answer is an interesting paradox: we are reaching further; atthe same time, we are getting closer, transcending geographic,linguistic and cultural barriers. In addition, we are not restricted toa single platform.
At ZEE, we are not progressing alone. We are also driving theindustry forward. Our pioneering spirit has made entertainmentmore aligned to people’s evolving aspirations globally.
-
8/20/2019 ZEEL balance sheet 2013-14
15/176
Annual Report 2013-1
1ST 1ST To launch Over-The-Top(OTT) platform in India
Indian media andentertainment companyto feature in Fortune500 list of companies
1ST To launch a Bollywoodmovie channel inIndonesia
PIONEERINGINNOVATIVECONTENT
ZEE’s evolution is an interesting storyin itself. The journey began with thelaunch of India’s first private satellitetelevision channel way back in 1992,giving birth to an entire televisionindustry in itself. We have alwaysbelieved in the need and relevance tocreate content, which is entertaining.
We have pioneered the launch of homegrown content formats in the Indiantelevision space. Shows like DanceIndia Dance have given our viewersan opportunity to witness such richtalent of the country, and has alsogiven a platform to the talent. Over the
years, we have built on our strengthsof drama, movies, news, sportsand reality shows, offering valuableentertainment programming to ourviewers.
PIONEERINGENTERTAINMENTCONVENIENCE
At ZEE, we are always focused tooffer greater value to our consumers.Our consistent endeavour to leverageadvanced technology has taken uscloser to people and widenedour reach.
In line with the evolving televisionviewing experience, Ditto TV wasthe first Over-The-Top (OTT) platformoffering in India. ZEE’s new-ageplatform delivers Live TV, video-on-demand, music, news and much moreto viewers on their mobile phones,tablets, desktops and laptops.
PIONEERINGGLOBALOFFERINGS
At ZEE, our strategy has been to offerspecific content to relevant markets.Our initial offering was limited to Indiancontent, targeted to South-Asianpeople living across the globe. As wegained popularity, we started dubbingthe content in the local language ofthe particular region, expanding ourviewer base to global audiences.
As the next strategic step we startedcreating content especially for theglobal audience, elevating the brandZEE to new levels. Today, we delivercontent for the global audiencethrough 35 dedicated international
channels across 169 countries.
-
8/20/2019 ZEEL balance sheet 2013-14
16/176
14 ZEE ENTERTAINMENT ENTERPRISES LIMITED
PRUDENTFOSTERING LONG-TERM VALUE
At ZEE, our global strategies and executionare based on sensible business prudence,balancing risks and returns. We areconfident that our foresight and fortitudewill help us touch one billion people by2020.
As a pioneer of India’s Television Industry, ZEE has consistently followed transparency in its
operations and businesses. Such an approach has enabled us to win the trust of a diversecommunity of stakeholders.
-
8/20/2019 ZEEL balance sheet 2013-14
17/176
Annual Report 2013-1
PRUDENTSTRATEGIESStarting with two hours ofprogramming in 1992, ZEE has
marched steadfastly towards its visionof unifying the entire world as OneFamily.
We ventured into international market,concentrating on Indian audiences,slowly re-formatting our offerings to suitthe local audiences in the internationalmarkets. As digitisation gathersmomentum in India a new horizonof opportunity is being created for acreative content creator like ZEE.
PRUDENTRETURNSWe are among India’s leading mediaand entertainment companies owing
to our unrivalled reach, encouragingadvertisers to associate with us. Ourdiverse channel portfolio and multi-country presence touches 730+ Millionpeople, providing quality entertainmentand creating higher return oninvestments for advertisers. This hasresulted in growth in our advertisingrevenues and subscription revenuesby 21% and 11% respectively overFY 2013.
PRUDENTDECISIONSMr. Punit Goenka, ZEE’s MD & CEO played a strategic role in establishing
the Broadcast Audience ResearchCouncil (BARC). BARC is formedin association with The IndianBroadcasting Foundation (IBF), theIndian Society of Advertisers (ISA) and
Advertising Agencies Association ofIndia (AAAI).
BARC’s primary objective is toconduct and commission marketresearch using appropriate researchmethodologies and provide accurate,up-to-date and relevant findingsrelating to broadcast audience,including TV ratings.
QUICK GLANCE
FY 2014 vs. FY 2013NUMBERS COUNT
FY 2014 vs. FY 2013BRAND RANKING
FY 2014 vs. FY 2013
13 21%Growth in advertising
revenues
Ranks higher in
Economic Times 500 listof companies for 2013;currently at 229 vis-a-vis242 last year
11%Growth in subscription
revenues
-
8/20/2019 ZEEL balance sheet 2013-14
18/176
-
8/20/2019 ZEEL balance sheet 2013-14
19/176
Annual Report 2013-1
PREDICTABLEREVENUEGENERATION
In the last five years, ZEE’s revenuesgrew at 15.30% CAGR. Besides, wewidened our business significantly,adding more channels, countries andplatforms to our network.
The consolidated revenue duringFY 2014 grew by 20% y-o-y to ` 46,024 Million. The phasedimplementation of Digital AddressableSystem (DAS) in India helpedsubscription revenues rise by 11%y-o-y. At the time when householdbudgets were constrained, ourconsistent performance showcasesour balanced business model and
long-term growth potential.
PREDICTABLEPROFITABILITY
One of the key measures of ourprofitability is improving cost-efficiencyof our operations. At ZEE, weimproved the margins successfullyby rationalising overhead costs, apartfrom making sustained synergicinvestments.
ZEE’s EBIDTA increased by26% in FY 2014 to ` 12,043 Million,and profit after tax was pegged at ` 8,921 Million. At ZEE, oursustainable profitability, aligned withour performance, defines our success.
PREDICTABLESHAREHOLDERWEALTH
CREATION The strength of a business model isdetermined by the flexibility with whichit balances investments in growth andcash returns to shareholders. At ZEE,we consistently pay high dividends toour shareholders, supported by higherearnings per share. This year weannounced a 200% dividend for ourstakeholders.
We have underlined our dominantposition in stock markets withhigh yield returns for the secondconsecutive year. Despite volatility in
stock markets, ZEE’s stock registeredover 20% appreciation in 2013,making it the media stock ofthe year!
(Source: www.televisionpost.com)
(%)
Advertising
Subscription
Others
PROPORTION OF
TOTAL REVENUEQUICK FACTS
FY 2014 vs. FY 2013
FY 2014FY 2013
25%Increase inProfit Before Tax
24%Increase inNet Profits
FACTS AND FIGURES
FY 2014 vs. FY 2013
30%Increase inMarket Capitalisation
29%Increase inZEE’s share price
5239 42 51
9
7
-
8/20/2019 ZEEL balance sheet 2013-14
20/176
18 ZEE ENTERTAINMENT ENTERPRISES LIMITED
DIFFERENT EMOTIONS.ONE WORLD.
RISHI JAITLY India Market Director
Twitter
Q. What is the potential that ZEE holds in the DigitalMedia Space?
A. ZEE has a plethora of rich and engagingcontent and Twitter is currently home to muchof the ‘second screen conversation’ aboutsuch interesting content. The platform is idealfor people to share their thoughts about what
they are watching, and to interact with others;sometimes even the stars of the showsthemselves. Thanks to searchable hashtags
and promoted tweets that TV networks canplace ads directly into the middle of thoseconversations. We are hoping that ourpartnership with ZEE will help acceleratea second screen TV conversation already
happening on the platform and inspire moreengagement with their advertisers.
ANNA ZEE viewer
Housewife, Moscow
Q. What role does ZEE playin your life?
Q. How has ZEE contributedto your entertainment needsfor the last several years?
A. It’s very important to have a channel thatyou can watch with your children, to spendsome time together. I have a 12 year-old girl,she is quite grown-up for the cartoons but stillvery young to watch programmes for adultswhich usually contain violence. ZEE TV is agreat alternative.
A. I’m pleased with everything that is relatedwith Indian culture. I practice yoga everymorning, and it is amazing that I can do sowithout leaving my house. All I have to do isturn on Zee TV. I am a busy person, butwhen it is time for the new episode of Jodha Akbar, everyone in the house knows not todisturb Mommy!
EVERY MORNING I
PRACTICE YOGA,
IT’S AN AMAZING
POSSIBILITY TO
ATTEND AN INDIAN
GURU LESSON
WE ARE HOPING THAT
OUR PARTNERSHIP
WITH ZEE WILL HELP
ACCELERATE A
SECOND SCREEN TV
CONVERSATION.
-
8/20/2019 ZEEL balance sheet 2013-14
21/176
Annual Report 2013-1
EKATERINA ZEE viewer
Manager, Noginsk
Q. What role does ZEE playin your life?
Q. How has ZEE contributeto your entertainment needfor the last several years?
A. For me Zee TV is a perfect way toescape any troubles and tiredness. After ahard working day in the office I don’t wantto see news on TV. I need to relax and getpositive emotions.
A. I remember watching Bollywood movwith my mom, which are popular in Russiasince I can remember. It’s kind of a familything. Usually my husband joins me to wata movie and it helps us enjoy togethernessWe both look forward to movie premieres Zee TV Russia.
USUALLY MY
HUSBAND JOINS
ME TO WATCH
A MOVIE AND IT
HELPS US TO
BE UNITED EVEN
MORE!
JOHN REID
President & COOColumbus Communications Inc.
Q. How has ZEE’s presence in the Caribbean added value t
the international distribution ecosystem?
Q. What has been ZEE’s role in being the cultural ambassadof India to the rest of the world?
A. We view ZEE as an important contentpartner as Columbus continues to makestrides in our commitment to provide avariety of programming to suit the unique andcomplex viewing demands of the Caribbean.
ZEE provides content that is relevant to asignificant segment of our consumer baseand we are pleased to partner with them awe continue to expand viewing options in region.
A. We understand that being culturalambassadors for India is important to ZEE;
we congratulate ZEE on its role to helppromote Indian culture, through content
that highlights India’s rich heritage andcomplexities to new and emerging marketand especially in areas in which there isinterest and demand.
ZEE PROVIDES
CONTENT THAT IS
RELEVANT TO A
SIGNIFICANT SEGMENT
OF OUR CONSUMER
BASE
-
8/20/2019 ZEEL balance sheet 2013-14
22/176
-
8/20/2019 ZEEL balance sheet 2013-14
23/176
Annual Report 2013-1
ZEE HAS INVESTED IN
REGIONAL LANGUAGES,
CABLE, DTH AND
MOST IMPORTANTLY
GROWING ITS
BUSINESS GLOBALLY.
VANITA KOHLI-KHANDEKAR
Media specialist and author of “The Indian
Media Business.”
Q. What are your thoughts about ZEE being a pioneer in themedia and entertainment industry?
Q. What are your views on ZEE’s evolution in the past decadwith changes in the media and entertainment space in ourcountry?
A. In the early nineties at a time whenno one thought of India as a TV market,Subhashji made a ‘crazy’ bid for spaceon the only satellite broadcasting into
India and China. To my mind that showsentrepreneurship, vision and an appetite
A. The Indian media and entertainmentspace invites hyperbole easily. That is
because it is the largest market for anythingand everything. The second largest TVmarket, the largest producer of films andthe fastest growing print industry, amongother things. It is however also terrificallyfragmented and chaotic. This is becausestructurally no one segment has had thetime to evolve and mature fully. Almost allmedia segments - print, TV, radio, films - sawliberalisation simultaneously. So investmentstarted flowing into them and they all started
for risk that any budding economy shouldhave plenty of. ZEE has invested in regionalanguages, cable, DTH and most importangrowing its business globally. Much of this
has come without any competitive pressuto do it.
growing together and fighting with each otIn the US for instance, first newspapers rumatured, then radio came and then came
In India, a voluminous and heterogeneousmarket, all media is booming simultaneous
This calls for companies with extraordinarytenacity, vision, and organisational abilitiesmake money, scale up and remain relevan
That is why ZEE’s growth is so phenomenIn a completely free market with dozens ofbroadcasters, raucous cable operators ansomewhat inefficient regulatory frameworksteadiness and growth stands out.
-
8/20/2019 ZEEL balance sheet 2013-14
24/176
22 ZEE ENTERTAINMENT ENTERPRISES LIMITED
MESSAGE FROM THE CHAIRMAN
Dear Shareholders,
There is a power in universal unity, whichcan hardly be overemphasised. It touches alllife forms and recognises and respects theirexistence as part of a universal family.
Taking a cue from that distilled wisdom ofancient Indian tradition we have evolved ourcorporate credo, “Vasudhaiva Kutumbakam – The World is My Family”. I firmly believewe will be a key driver in enhancing theglobal media and entertainment industry. Ourobjective is not just to disseminate informationor entertain our viewers with innovativeand engaging content, but to enrich livesand strengthen bonds that unite countries,cultures and traditions, despite obviousdifferences. We started our journey from India,which itself celebrates ‘Unity in Diversity’; andnow we are taking forward this message fromIndia to the world.
Today, we touch over 730 Million viewers,who embrace our brand affectionately. Thisviewing fraternity belongs to one family, theZEE family. Across varied cultures, geographicand demographic landscapes, millions ofpeople repose trust in us. But is it the end ofthe road for us? No. We want to extend ourentertainment universe further; and we knowfor sure that despite challenges it will be animmensely fulfilling journey to take. We want
Today, we touch
over 730 Millionviewers, whoembrace our brandaffectionately. Thisviewing fraternitybelongs to onefamily, the ZEEfamily. Across
varied cultures,geographic anddemographiclandscapes,millions of peoplerepose trust in us.
-
8/20/2019 ZEEL balance sheet 2013-14
25/176
Annual Report 2013-1
ZEE is a youngcompany at heartthat promotesrefreshing ideas for India andthe world. Ideasthat entertain,educate and helpelevate the lives ofpeople.
to take our quality entertainment to a billionviewers by 2020, and ZEE is fully equipped toembrace that challenge.
What gives us the confidence at a time ofsuboptimal global and domestic economicgrowth and a general climate of pessimism?My answer would be our seasonedexperience and expertise, which has seenmany a rough weather. I would say ourexperience and expertise is not an overnightphenomenon. It has been acquired fordecades, and this knowledge has enabled us
to outperform the domestic industry growthaverage for two consecutive years. We don’tsee the evolving entertainment aspirations ofthe global community as a roadblock, but asa catalyst to unleash our creativity.
According to the latest PWC report, the globalmedia and entertainment market is estimatedto grow at 5.6% CAGR over the next fiveyears, generating US$ 2.2 trillion revenues.In line with these growth opportunities, weare now raising the bar in terms of our brandreach and recall. As a step in this direction,we have launched our operations in theIndonesian and Thailand markets.
The latest KPMG report states that thedomestic television industry is valued at ` 417 Billion. The industry addresses over161 Million TV households across India.
The transformation from cable viewing todigitisation is still continuing. Digitisation hasbeen instrumental in enhancing the industry’stransparency levels. The Phase I and II rollout restructured the industry’s standards.With the consumers ready to pay for qualitycontent, complete digitisation will entailmultiple benefits, such as industry growth,transparency and increased ARPUs forindustry players.
At ZEE, it has been our constant endeavourto catalyse the positive industry trends. Thismechanism will further enhance the overallecosystem, generating mutual benefitsto valued channel partners. The timelyimplementation of digitisation’s Phase III andIV is definitely important for the benefit of theentire industry.
ZEE is a young company at heart thatpromotes refreshing ideas for India and theworld. Ideas that entertain, educate andhelp elevate the lives of people. The result
Read more about “Our People”
on page 40
is a widening fraternity of viewers and aconsistent growth rate of over 20%, yet agoutperforming the industry. On the socialresponsibility front, we are also focusingon reaching out to the community in moreways than one. We are helping promotereading and literacy across Rajasthan andUttarakhand. Our team has established 20primary school libraries, and we will continto support such initiatives in the comingyears.
I am confident that ZEE has miles to go,
thanks to our vision of creating a globalfamily of viewing fraternity; a family which widening every single day. Our Team has tcommitment and the calibre to compete wthe best in the global entertainment univerand together we will take brand ZEE to neheights of excellence.
I thank all our stakeholders, whose unstintsupport and guidance has contributed toour stellar performance in FY 2014. Wewill continue to live our values and turnopportunities into business achievements the years to come.
DR. SUBHASH CHANDRA
Chairman
Zee Entertainment Enterprises Ltd.
-
8/20/2019 ZEEL balance sheet 2013-14
26/176
24 ZEE ENTERTAINMENT ENTERPRISES LIMITED
MD & CEO’s MESSAGE
Dear Shareholders,
Can we have a businessmodel, which enshrinesfamily values and yetperforms sustainably withsound financial prudenceglobally?
Can we go beyond thetraditional creator-consumermindset?
Can we learn, adapt andchange and yet stay deeplyrooted to ‘The World Is MyFamily’ ethos?
At ZEE, we believe it’s possible and ourconviction is reflected in our corporate brandpositioning. Our aim is to take it further. Thereis an interesting paradox in this proposition.
The further we go across geographies, thecloser we get to our vision of ‘One World’.
Our success depends on three fundamentalbrand value drivers - Pioneering, Prudent,and Predictable which were articulated inthe recently conducted Corporate Brand
Valuation Study. Our business operations
revolve around these pillars, and we believethat the resulting synergies have broughtsustainable growth to the organisation.Pioneer – for all the industry firsts thatZEE has to its credit, because of whichthe industry looks up to ZEE in terms ofinnovations and industry leadership; Prudent– giving the best input to output ratio in theindustry; and Predictable – emerging asthe most effective shock-proof option forinvestments and delivering consistent value toinvestors.
The future ofIndia’s M&Eindustry continuesto be promising.ZEE will continueto raise the bar interms of contentinnovation,operationalexcellence andglobal footprint tosustain its industryleadership.
-
8/20/2019 ZEEL balance sheet 2013-14
27/176
Annual Report 2013-1
In this challenging market scenario, in orderto sustain leadership, one needs to bevigilant and cater to the evolving aspirationsof viewers. This makes it imperative for us todeliver content solutions that are innovativeglobally.
Our international expansion remains integralto our philosophy of embracing ‘One World’.Our strategic launches include Zee TVCanada in HD and Zee Bioskop in Indonesia(being the first Bollywood movie channelin Bahasa region). Besides, Zee UK’s two
free-to-air channels, Lamhe and Zing, areranked as UK’s top viewed Asian channels.Extending the success of Dance India Dance,the USA edition of the show was a grandsuccess in the region.
To strengthen our presence in domesticmarkets, we launched another brand - ‘&’.With plans to unveil a bouquet of channels,we successfully launched the first productunder this brand, ‘& Pictures’- a 24-hoursmovie channel. We launched Zee Anmol, theHindi GEC Channel across two platforms(television and mobile) simultaneously. Wealso launched Zindagi, which offers premiummass content to Indian audiences. These
steps have increased our channel bouquet to33 channels in the domestic market and 35dedicated channels internationally.
ZEE has performed commendably in FY2014 in a slow-growth era, with a steadyquarter to quarter growth. During FY 2014,ZEE’s revenue stood at ` 44,217 Million withEBIDTA of ` 12,043 Million and Net Profit of ` 8,921 Million. In addition, we also issuedbonus preference shares to the Equity shareholders on the occassion of completionof 20 years of broadcasting business ofthe company. The results prove that ourstrategies are in the right direction and thatwe have been able to elevate our expertise inline with changing times. In an environment ofhigh inflation and tighter household budgetsfor discretionary spend, we have been ableto gain more viewership share and in turnmindshare. Having more than 730 Millionviewers today, we are on course to reach abillion viewers by 2020.
The industry did mature to a considerableextent in the last financial year, especially afterthe roll-out of digitisation Phase I and II. Interms of advertising revenue (10-11%), the
year was not encouraging for the industry.On the contrary, ZEE’s growth in advertisingrevenue has been 21%. In the next 2-3 years,I believe the market will certainly improve, witha CAGR of 12-14%.
In case of subscription revenues, the DTH ARPUs have shown a positive trend. Whiledigitisation has brought multiple nichechannels for the viewers, it hasn’t resulted ina dramatic shift in the viewing preferences.GECs have maintained the same share ofviewing over the niche channels. The growthtrend for subscription revenues largelydepends on the roll out of the Phase III andIV of digitization. The timely roll out of thesephases will certainly benefit the industry.
The regional market witnessed growth in linewith industry growth rates, with Zee Marathishowing the fastest growth rate. The 12
minutes advertisement CAP rule by TRAIhas been implemented by ZEE. While thevolume of advertising revenues declined, theeffect was transferred to the advertisers by aspecific hike in advertising rates.
The FY 2014 continued to be anotherencouraging year, as our contribution to theentertainment landscape received furtherrecognition. We are ranked as the No.1 MediaCompany in the prestigious ET 500 l ist ofcompanies. Ditto TV was recognised for Best
ZEE will continueto raise the bar interms of contentinnovation,operationalexcellence andglobal footprint tosustain its industryleadership.
Mobile Application (Entertainment), Innovain the Mobile Industry (Best audiencemigration to the mobile industry) and Best
Application/Content Development Platform(mobile browsers). The successful launch ‘& Pictures’ resulted in Designomics Awar2013 for ‘Digital Use and Social MediaInnovation.
The future of India’s M&E industry continuto be promising. Currently valued at ` 417 Billion, it is poised to reach ` 885 Bby 2018, as per the latest KPMG report.
ZEE will continue to raise the bar in termsof content innovation, operational excellenand global footprint to sustain its industryleadership.
As you read this, the global ZEE family isgaining strength, crossing borders andwinning hearts. We have always believedthat true innovative entertainment starts wpeople, who bond as family; and we willcontinue to have faith in the global familyethos. With your constant support andencouragement, we will be able to extendZEE family to new frontiers and geographi
PUNIT GOENKA
MD & CEO
Zee Entertainment Enterprises Ltd.
-
8/20/2019 ZEEL balance sheet 2013-14
28/176
26 ZEE ENTERTAINMENT ENTERPRISES LIMITED
AIMING HIGHER
FINANCIAL HIGHLIGHTSOPERATIONAL HIGHLIGHTS
FY 2014
FY 2013
FY 2012
44,217
36,996
30,405
INCOME FROM OPERATIONS (` Million)
FY 2014
FY 2013
FY 2012
12,043
9,543
7,395
EBIDTA (` Million)
FY 2014
FY 2013
FY 2012
13,191
10,519
8,406
PROFIT BEFORE TAX (` Million)
FY 2014
FY 2013
FY 2012
8,921
7,196
5,891
PROFIT AFTER TAX(` Million)
REVENUE FROM OPERATIONS (%)
(%)
Advertising Subscription Others
DISTRIBUTION OF EXPENSES
Operational cost
Employee benefits expense
Depreciation and amortisation expense
Other expenses
Finance cost
54
5
41
63
12
23
0
2
-
8/20/2019 ZEEL balance sheet 2013-14
29/176
Annual Report 2013-1
KEY FIGURES FOR SHAREHOLDERS
FY 2014
FY 2013
FY 2012
260,618
200,760
123,202
MARKET CAPITALISATION (` Mi
FY 2014
FY 2013
FY 2012
47,377
39,115
34,308
NETWORTH (` Mi
FY 2014
FY 2013
FY 2012
18.8
18.4
17.2
RONW
FY 2014
FY 2013
FY 2012
28.1
27.1
24.6
ROCE
(Source: FICCI-KPMG Indian Media and
Entertainment Industry Report 2014)
TV INDUSTRY SIZE (` Billion)
417
885
2013
2018 (projected)
TOTAL INTERNET
USERS(Million)
214
61%
2013
Dominated by mobile users
-
8/20/2019 ZEEL balance sheet 2013-14
30/176
28 ZEE ENTERTAINMENT ENTERPRISES LIMITED
India as a country has always been an active participant inglobal affairs. ZEE conceptualised on two knowledge platformsfor intellectuals of our country. An interactive platform,ZEE Leadership Series and ZEE MindSpace is one of its kind, bringing global intellectuals together.
An intellectually inspiring event, conceptualisedto create an interactive platform for industryleaders to discuss, debate and ideate onglobal issues. Besides, these events (actingas revenue generating brand intellectualproperties) ensure attractive revenues andstrengthen our brand recall and respect.
In the first of many series, the theme for ZEELeadership Series 2013 was ‘One World:Risk, Opportunities and Excellence’. As
the global geographic barriers erase andtechnology bridges dreams, ‘One World’ isthe prevailing idea. The ones to succeed shallbe those individuals, who have the ability tocapitalise on opportunities and empowerthe nation. The two speakers for the ZEELeadership Series, 2013 were thoughtfullyselected, inspiring the audiences with theirstories of brilliance, creativity and courage.
CAPTAIN RICHARD PHILLIPS
Captain of the Maersk Alabama, the only UScargo ship to be attacked by pirates in the last200 years, Richard is a true hero. Held hostageby Somali pirates, the Captain was determinedto save his crew and ship. The Captain’sstory is one of tremendous individual bravery,leadership and eventually, of triumph.
FREDRIK HAREN
Swedish entrepreneur, publisher and author,Fredrik Härén has, in the past few years,become one of the most talked-aboutnames in the field of creativity. Founder ofcreativity company interesting.org and authorof the best sellers – The Idea Book and TheDeveloping World, Fredrik has worked withmultiple companies delivering more than 1500speeches in over 40 countries.
As the globalgeographicbarriers eraseand technologybridges dreams,‘One World’ isthe prevailing
idea. The ones tosucceed shall bethose individuals,who have theability to capitaliseon opportunities.
Dr. Subhash Chandra, Chairman, giving
inaugural address at ZEE Leadership Series.
ONE KNOWLEDGE PLATFORM
-
8/20/2019 ZEEL balance sheet 2013-14
31/176
Annual Report 2013-1
A unique platform bringing together themarketing gurus of the Indian CorporateInc., ZEE MindSpace series is designed forlike-minded people to discuss and debateon the challenges of marketing. The themefor ZEE MindSpace 2014 was ‘ChallengingEnvironment’, highlighting the challenges for
marketing professionals to succeed in today’sevolving landscape. The speakers for thisevent enlightened the business audiences withthe challenges of the 21st century workplaceand how ‘right attitude’ can lead to survivaland success.
ROB LILWALL
Rob Lilwall is a British-born, Hong Kong-based
TV adventurer, writer and motivational speaker.His expeditions have seen him travelling onfoot, by bicycle, and by boat, through someof the harshest corners of the Earth. Robexpounds upon the attitudes of – Effectivegoal-setting, Daring Creative thinking and Self-Discipline.
ANDERS SORMAN NILSSON
Anders Sorman Nilsson is a reformed lawyer,
and the founder and creative director ofthe Sydney and Stockholm based researchcompany – Thinque. His unique globalperspectives have been helping leaders,teams, and business owners in the USA,Europe, Asia and Australia make sense ofand harness disruptive trends in innovations,generations and communications. His misfitinsights have recently been manifested in hisbook Thinque Funky: Upgrade Your Thinkingand amplified by endorsements via AFR BossMagazine, Wired (UK), and Monocle.
A uniqueplatform bringingtogether themarketing gurusof the IndianCorporate Inc.,ZEE MindSpace
series is designedfor like-mindedpeople to discussand debate onthe challenges ofmarketing.
Punit Goenka, MD & CEO – ZEE addressing the
delegates at ZEE Leadership Series.
Delegates listening to speakers at ZEE MindSpace
-
8/20/2019 ZEEL balance sheet 2013-14
32/176
30 ZEE ENTERTAINMENT ENTERPRISES LIMITED
OPERATIONAL CANVAS
TOUCHING GLOBAL AUDIENCE HINDI SHOWS ENGLISH SHOWS
ZEE TV CANADA IN HD
Zee TV, the South Asian EntertainmentNetwork in partnership with Ethnic ChannelsGroup Limited (ECG), Canada’s largestdistributor of third language televisionservices, launches Zee TV Canada in HD.
ZEE BIOSKOP
ZEE launched operations in Indonesia withthe launch of ZEE Bioskop.
®
ZEE LAMHE
Targeted to the UK viewers, the channelidentity plays on life’s simple and specialmoments, creating an emotional connect withthe audience’s unique memories of their earlyUK life.
PAVITRA RISHTA
The popular television show has won twointernational awards.
DANCE INDIA DANCE
This popular reality show has made a placefor itself in the Guiness Book of WorldRecords.
FEAR FILES
Fear Files has won Silver at the prestigiousIndian Digital Media Awards 2013 for the bestuse of technology.
DID SUPER MOMS
Extending the biggest dance platform onIndian television, DID Super Moms gaveIndian mothers a chance to relive theirdreams of dancing.
RED WIDOW
USA’s super hit series was premiered for thefirst time on Indian television through
Zee Café.
LOST
The popular serial starring Hollywood’shottest talents, featured on Zee Café.
HOUSE OF CARDS
An American political drama television series,House of Cards was featured on Zee Café.
SPORTS
BIGGEST SPORTS CONTENT
PROVIDER
Ten Sports bagged the rights to broadcasts2014 Asian Games and four other AsianOlympic Competitions.
-
8/20/2019 ZEEL balance sheet 2013-14
33/176
Annual Report 2013-1
REGIONAL CHANNELS OTHER HIGHLIGHTS
ZEE BANGLA
Reality show ‘Dadagiri Unlimited’ was backwith its Season 4 to win over the hearts of the
Bengali population.
ZEE MARATHI
Introduced Uncha Maza Zoka Puraskar2013, to recognise women achievers inMaharashtra.
ZEE SALAAM
Zee Salaam, India’s only Islamic TV channel isNo.1 yet again.
ZEE TALKIES
The roaring success of ‘MaharashtraFavourite Kon’ 2013 (the only viewers’ choiceawards for Marathi Cinema Industry) madeZee Talkies reach highest TVTs since launch.
ZEE CARE
A CSR initiative which will endeavour to makea difference in the lives of underprivilegedchildren through education.
& PICTURES
The recently launched hindi movie channestrives to offer the best of movies tothe audiences through unique interactivecampaigns.
ZEE ANMOL
First channel in the Indian television spacebe simultaneously launched on mobile andtelevision platforms.
ZINDAGI
The channel aims to showcase storiesfrom across the border with culturalbackgrounds, morals and values that are aintrinsic to India.
ZEE BIOSKOP
Indonesia’s first Bollywood channel withsome of the greatest Bollywood movies onthe offering.
ZEE NUNG
A Bollywood channel dubbed in Thai,customised and packaged for the localaudiences.
NEW CHANNELS LAUNCHED
CORPORATE
BUSINESS TODAY’S 500 MOST
VALUABLE COMPANIES
Ranked 59th, up from 81st in 2012.
ECONOMIC TIMES 500 COMPANIES
Ranked 229th against 242nd last year.
BUSINESS STANDARD LIST OF
INDIA’S TOP MEDIA FIRMS
ZEE became a part of the billion-dollar mediaclub, making it one of the leading mediacompanies in India.
-
8/20/2019 ZEEL balance sheet 2013-14
34/176
32 ZEE ENTERTAINMENT ENTERPRISES LIMITED
A WIDER ANGLE
HINDI GEC
REGIONAL GEC MOVIE CHANNELS
ENGLISH ENTERTAINMENT MUSIC
-
8/20/2019 ZEEL balance sheet 2013-14
35/176
-
8/20/2019 ZEEL balance sheet 2013-14
36/176
-
8/20/2019 ZEEL balance sheet 2013-14
37/176
Annual Report 2013-1
QUALIFICATION
A graduate from Bombay University, alsoparticipated in various intensive ManagementEducation programmes like Young Managersprogramme at INSEAD, France and aprogramme on “Birthing of Giants” hosted by
Young Entrepreneurs’ Organisation and MITEnterprise Forum, Inc., Boston, USA
EXPERIENCE
Started his career with the Essel Group,which has diversified business interest inthe areas of media, entertainment, gamingpackaging and telecommunications.
PUNIT GOENKA Managing Director & CEO
QUALIFICATION
Prof. Neharika Vohra, Professor inOrganisational Behaviour at the IndianInstitute of Management, Ahmedabad, holdstwo post-graduate degrees and first rankerin Graduation and is a post-graduate inPsychology in India. She also holds Ph.Din Social Psychology from University ofManitoba, Canada.
EXPERIENCE
She has been the recipient of various awaand recognition in her professional fieldincluding ‘Best Teacher Award’ by Universof Manitoba, ‘Young Psychologist Award’by International Union of Psychologists.‘Learning Luminary Award’ by OD Roundtand ‘Woman Achievers Award’ by FICCILadies organisation.PROF. (MRS.) NEHARIKA VOHRA
Independent Director
QUALIFICATION
Fellow Member in Management (Doctorate)from the Indian Institute of Management,Kolkata.
Masters from the Indian Statistical Instituteand graduate from Loyola College, Chennai.
EXPERIENCE
Known for his commendable contributionin the areas of Corporate Finance, RiskManagement and Pensions.
Professor of Finance and Control at the InInstitute of Management, Bangalore and UChair Professor in the area of Capital Mark
PROF. R. VAIDYANATHANIndependent Director
QUALIFICATION
Prof. Sharma has earned a Fellow (Ph.D) inBusiness Policy from the Indian Institute ofManagement, Ahmedabad, and Bachelorsin Mechanical Engineering from UP TechnicalUniversity.
EXPERIENCE
Prof. Sharma’s specialization is in strategyformulation under uncertainty, innovationmanagement, and organizational capabilitHe teaches courses on strategy, consultinand innovation. His most recent consultingassignment was to formulate the vision anmission, review the organizational set-up asuggest a new organization structure, anddevelop a business model for the CompetCommission of India.
PROF. SUNIL SHARMA Independent Director
-
8/20/2019 ZEEL balance sheet 2013-14
38/176
36 ZEE ENTERTAINMENT ENTERPRISES LIMITED
SENIORMANAGEMENT TEAM
PUNIT GOENKAManaging Director & CEO
AMITABH KUMARTechnology
ARUN KAPOOR Affiliate Revenue
ASHISH SEHGAL Advertisement Revenue
ATUL DASCorporate Development
BHARAT RANGAContent
DEBASHISH GHOSHDigital
DEEPAK JAINInternational Business - Africa
K. JAYARAMANDistribution
At ZEE, we have a high-quality managementteam, that continuously addresses the challengesand believe in themselves to take the Companyto the next level.
-
8/20/2019 ZEEL balance sheet 2013-14
39/176
Annual Report 2013-1
M. LAKSHMINARAYANAN
Legal & Secretarial
ROLAND LANDERSCorporate Brand
SHARADA SUNDERRegional HSM
RAJENDRA MEHTAHuman Resources
ROMIL RAMGARHIACommercial
SUNITA UCHILInternational Advt. Sales and Syndication
RAJESH SETHISports
SAMEER TARGEInternational Business – USA
SUSHRUTA SAMANTAInternational Business – APAC
MUKUND CAIRAE
International Business – MENA & Pakistan
NEERAJ DHINGRAInternational Business - UK
MIHIR MODI
Finance & Strategy
-
8/20/2019 ZEEL balance sheet 2013-14
40/176
38 ZEE ENTERTAINMENT ENTERPRISES LIMITED
ZEE MUSIC COMPANY
Indian music is blissful and touches the deepest chords of the human heart globally. The digitalplatform (mobile and internet services) has strengthened Indian music’s global recognition. Thistechnological advancement will take Indian music to new heights of achievement.
Indentifying the opportunities in Indian Music industry, ZEE has launched ‘Zee Music Company’,entering into the country’s ` 960 crore music market. The Company foresees the music industry
to grow significantly, touching ` 1780 crore by 2018. ZEE has already partnered with the country’sleading production houses like Reliance Entertainment and Fox Star Studios, with plans topartner with Dharma Productions, Excel Entertainment and more in future. Zee Music Companyexpects to come out with music rights for more than 20 motion pictures in 2014.
HOLIDAY
HUMSHAKALS
HAWAA HAWAAI
EXTENDING OUR BOUNDARIES
The strong growth in the Indian digitisationspace has propelled the distribution businessin the country. With first two successfulphases of the DAS implementation, ZEE
and Star have discontinued their alliance,to continue the distribution at independentlevels. After achieving success, ZEE wouldnow deliver content in the most efficientmanner through Taj Television India (P) Limited(100% subsidiary).
After successfully addressing the anomaliesin the analog market, curbing piracy andintroducing transparency, ZEE wouldstrengthen the distribution platform to cater tothe stakeholder community at large.
NEW BUSINESS VERTICALS
-
8/20/2019 ZEEL balance sheet 2013-14
41/176
-
8/20/2019 ZEEL balance sheet 2013-14
42/176
40 ZEE ENTERTAINMENT ENTERPRISES LIMITED
FAMILY STARTS
WITH PEOPLE
ANINE EHLERSSenior Sales Manager, South Africa
LEONID YURGELASGeneral Manager, United Kingdom
LALITA Manager - Administration, Indian Ocean Islands & Francophone Africa
JODI GOLDBLATTSenior Manager Advertising Sales, United States
TSAKANE MABASA Financial Accountant, South Africa
LOVENA Senior Account Manager, Indian Ocean Islands & Francophone Africa
ANNE DOYLEHead HR, United States
COLLEEN CASSELLDirector Advertising Sales, United States
LEILA Regional Head, Indian Ocean Islands & Francophone Africa
NADER SHEHATA Senior Manager – On Air Promotions, Programming Department, MENAP
ADILAHHead of Sales, Malaysia
DIALA MONSEFManager – Dubbing, Programming Department,MENAP
-
8/20/2019 ZEEL balance sheet 2013-14
43/176
-
8/20/2019 ZEEL balance sheet 2013-14
44/176
42 ZEE ENTERTAINMENT ENTERPRISES LIMITED
BUSINESSRESPONSIBILITY
BUSINESS RESPONSIBILITY AND
SOCIAL RESPONSIBILITY COMPLEMENT
OUR VISION OF ‘ONE WORLD.’
BUSINESS RESPONSIBILITY
We believe, our business touches lives in more ways than one. Therefore, it involves a
sense of responsibility.
We strive to comply with regulatory bodies, fulfil legal obligations and create ethical internal
policies and procedures. While we aim to realise our dream of building ‘One World’, we arecommitted to mitigate potential business risks and capitalise on emerging opportunities.
Our internal corporate governance team has created a strong governance structure, whichis aligned with the Company’s policies. The integrated framework provides support to createstrategic policies, specific targets and benchmarks to move ahead.
Our industry leadership drives us to develop a sustainable organisation. ZEE’s businessresponsibility revolves around meeting the following priorities:
PERFORMANCE-DRIVEN
Set feasible targets and encourageoperational transparency
BRAND ZEE
Sustain industry leadership and continue toscale new heights of achievement
TALENT-DRIVEN
Identify talent, support and nurture them
REWARDS
Acknowledge employee contributionstowards fulfilling organisational goals
UNDER OUR
CSR BRAND-
ZEE CARE, OUR
KEY FOCUS HAS
BEEN ON WOMEN
EMPOWERMENT AND CHILD
EDUCATION.
TO REALISE
OUR DREAM OF
BUILDING ‘ONE
WORLD’, WE
ARE COMMITTED
TO MITIGATEPOTENTIAL
BUSINESS RISKS
AND CAPITALISE
ON EMERGING
OPPORTUNITIES.
Read more about
“ Governance Practices”
on page 66
-
8/20/2019 ZEEL balance sheet 2013-14
45/176
Annual Report 2013-1
MR. JOHN WOODFounder
Room to Read
Q. What are your thoughtson ZEE’s contribution to thesociety?
A. As the world becomes moreinterconnected, it is incumbent on all of us
to work together to solve society’s mostpressing challenges.
Room to Read’s partnership with ZeeEntertainment Enterprises Ltd., which haspromoted literacy and cultivated a love forreading among thousands of children in Indiais a perfect example of how the corporateworld can take action to inspire positivechange and make the world a better place forfuture generations.
ROOM TO READ’S
PARTNERSHIP WITH
ZEE IS TO MAKE THE
WORLD A BETTER
PLACE FOR FUTURE
GENERATIONS.
SOCIAL RESPONSIBILITY
We remain relevant on the societal platform with multiple initiatives. In 2013, we funded thesetting up of 20 libraries across Rajasthan and Uttarakhand. These libraries catered to over2,490 students, providing them access to various study materials. The libraries created additionalresources for children around those regions. ZEE delivered around 12,000 books, especiallyselected by parents, teachers and government officials of those regions.
ROOM TO READ AND ZEE
It was a milestone for ZEE to partner with ‘Room to Read’, a global organisation. ‘Room to Read’envisions a society in which all children should pursue quality education to acquire knowledgeand contribute to their respective communities and the world. ZEE will enhance literacy levelsacross Rajasthan and Uttarakhand by setting up libraries through this partnership, elevating livesof over 2,400 children.
93+ Teachers impacted throughprofessional developmenttrainings
12,000+Books provided across20 libraries
-
8/20/2019 ZEEL balance sheet 2013-14
46/176
44 ZEE ENTERTAINMENT ENTERPRISES LIMITED
CORPORATE
INFORMATION
BOARD OF DIRECTORS
DR. SUBHASH CHANDRA
Non – Executive Chairman
SUBODH KUMAR
Executive Vice Chairman
ASHOK KURIEN
Non – Executive Director
LORD GULAM K. NOON
Independent Director
PROF. R. VAIDYANATHAN
Independent Director
PROF. SUNIL SHARMA
Independent Director
PROF. (MRS.) NEHARIKA VOHRA
Independent Director
PUNIT GOENKA
Managing Director & CEO
SENIOR MANAGEMENT
PUNIT GOENKA
Managing Director & CEO
AMITABH KUMAR
Technology
ARUN KAPOOR
Affiliate Revenue
ASHISH SEHGAL
Advertisement Revenue
ATUL DAS
Corporate Development
BHARAT RANGA
Content
DEBASHISH GHOSH
Digital
DEEPAK JAIN
International Business - Africa
K. JAYARAMAN
Distribution
M. LAKSHMINARAYANAN
Legal & Secretarial
MIHIR MODI
Finance & Strategy MUKUND CAIRAE
International Business – MENA & Pakistan
NEERAJ DHINGRA
International Business - UK
RAJENDRA MEHTA
Human Resources
RAJESH SETHI
Sports
ROLAND LANDERS
Corporate Brand
ROMIL RAMGARHIA
Commercial
SAMEER TARGE
International Business – USA
SHARADA SUNDER
Regional HSM
SUNITA UCHIL
International Advt. Sales and Syndication
SUSHRUTA SAMANTA
International Business – APAC
AUDITORS
M/S MGB & CO.
COMPANY SECRETARY
M. LAKSHMINARAYANAN
BANKERS
BNP Paribas
Deutsche Bank
ING Vysya Bank Ltd.
Standard Chartered Bank
Yes Bank Ltd.
REGISTERED OFFICE
Continental Building,
135, Dr. A. B. Road, Worli,
Mumbai - 400 018.
Maharashtra, India.
www.zeetelevision.com
/ZEECorporate
-
8/20/2019 ZEEL balance sheet 2013-14
47/176
Annual Report 2013-1
STATUTORY REPORTS
46 Notice
54 Directors’ Report
62 Annexure to Directors’ Report
66 Report on Corporate Governance
86 Management Discussion and Analysis
100 Business Responsibility Report
FINANCIAL STATEMENTS
STANDALONE
110 Certification on Financial Statem
111 Independent Auditor’s Report
114 Balance Sheet
115 Statement of Profit and Loss
116 Cash Flow Statement
118 Notes
139 Last Five Years Financial Highlig
140 Performance Ratios - An Analys
CONSOLIDATED
141 Independent Auditor’s Report
142 Balance Sheet
143 Statement of Profit and Loss
144 Cash Flow Statement
146 Notes
167 Financial Highlights of Subsidia
Attendance Slip & Proxy Form
-
8/20/2019 ZEEL balance sheet 2013-14
48/176
46 ZEE ENTERTAINMENT ENTERPRISES LIMITED
NOTICE
Notice is hereby given that the Thirty Second Annual General Meeting of the Equity Shareholdersof Zee Entertainment Enterprises Limited will be held at ‘Nehru Auditorium’, Nehru Centre, Dr.
Annie Besant Road, Worli, Mumbai 400 018 on Friday, the 18th day of July 2014, at 11.00 a.m.,to transact the following business:
ORDINARY BUSINESS:
1. To receive, consider and adopt the audited Financial Statements of the Company - on astandalone and consolidated basis, for the financial year ended 31 March, 2014 includingthe Balance Sheet as at 31 March, 2014, the Statement of Profit & Loss for the financial yearended on that date, and the Reports of the Auditors and Directors thereon.
2. To confirm the pro-rata Dividend paid on the Preference Shares of the Company for thefinancial year ended 31 March, 2014.
3. To declare Dividend of ` 2 per Equity share for the financial year ended 31 March, 2014.4. To appoint a Director in place of Dr Subhash Chandra (DIN 00031458), who retires by rotation,
and being eligible, offers himself for reappointment.
5. To re-appoint M/s MGB & Co., Chartered Accountants, Mumbai, having Firm Registration No.101169W, as the Statutory Auditors of the Company to hold such office from the conclusionof this meeting until the conclusion of the next Annual General Meeting at remuneration to bedetermined by the Board of Directors of the Company.
SPECIAL BUSINESS:
6. To consider and if thought fit, to pass with or without modification(s), the followingresolution as an Ordinary Resolution.
“RESOLVED that pursuant to Section 149, 152 and other applicable provisions of Companies Act 2013 (‘Act’) and the rules made there under read with Schedule IV of the Act, Prof SunilSharma (DIN 06781655) who was appointed as an Additional Director of the Company bythe Board of Directors with effect from 22 January, 2014 and who holds office up to the
date of this Annual General Meeting in terms of Section 161 (1) of the Act and in respect ofwhom the Company has received a notice in writing from a member under Section 160 ofthe Act proposing his candidature for the office of Director, be and is hereby appointed asan Independent Director of the Company not liable to retire by rotation for the period up to21 January, 2017.”
7. To consider and if thought fit, to pass with or without modification(s), the followingresolution as an Ordinary Resolution.
“RESOLVED that pursuant to Section 149, 152 and other applicable provisions of Companies Act 2013 (‘Act’) and the rules made there under read with Schedule IV of the Act, Prof (Mrs)Neharika Vohra (DIN 06808439) who was appointed as an Additional Director of the Companyby the Board of Directors with effect from 12 March, 2014 and who holds office up to thedate of this Annual General Meeting in terms of Section 161 (1) of the Act and in respect ofwhom the Company has received a notice in writing from a member under Section 160 ofthe Act proposing her candidature for the office of Director, be and is hereby appointed asan Independent Director of the Company not liable to retire by rotation for the period up to11 March, 2017.”
8. To consider and if thought fit, to pass with or without modification(s), the followingresolution as an Ordinary Resolution.
“RESOLVED that, pursuant to the provisions of Section 149 of the Companies Act, 2013(‘Act’) and the rules made there under, Mr Subodh Kumar, IAS (Retd) (DIN 02151793), whowas appointed as an Additional Director of the Company by the Board of Directors with effectfrom 22 January, 2014 and who holds office up to the date of this Annual General Meeting interms of Section 161(1) of the Act and in respect of whom the Company has received a noticein writing from a member under Section 160 of the Act proposing his candidature for the officeof Director, be and is appointed as Director of the Company, liable to retire by rotation.”
-
8/20/2019 ZEEL balance sheet 2013-14
49/176
Annual Report 2013-1
9. To consider and if thought fit, to pass with or without modification(s), the followingresolution as an Ordinary Resolution.
“RESOLVED that pursuant to Section 196, 203 and other applicable provisions of Compa Act, 2013 (including corresponding provisions, if any of the Companies Act, 1956) andCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014, Company hereby accords its approval for appointment of Mr Subodh Kumar (DIN 02151as a Whole-Time Director designated as ‘Executive Vice Chairman’ of the Company fperiod of 3 years with effect from 1 February, 2014, on such terms and at such remuneraas set out in the explanatory statement annexed to this Notice.
RESOLVED FURTHER that
a) the aggregate of salary, perquisites and allowances of Mr Subodh Kumar, Executive Chairman of the Company in any one financial year shall not exceed the limits prescriunder Section 197 read with Schedule V of the Companies Act, 2013 (including applicrules, if any) as amended from time to time;
b) in the event of loss or inadequacy of profit in any financial year during the currency of teof services of Mr Subodh Kumar, Executive Vice Chairman, the payment of salary, perquisand other allowances shall be governed by the limits prescribed under Section II of Part Schedule V of the Companies Act, 2013; and
c) the Board (including any Board Committee exercising powers conferred by this resolube and is hereby authorised, in its absolute discretion and from time to time, to fix, withinrange of remuneration detailed in the explanatory statement, the salary and other allowancentitlements including performance bonus / incentive, if any, of Mr Subodh Kumar.”
10. To consider and if thought fit, to pass with or without modification(s), the followingresolution as an Ordinary Resolution.
“RESOLVED that pursuant to Section 149, 152 and other applicable provisions of Compa Act, 2013 read with Companies (Appointment and Qualification of Directors) Rules, 20Lord Gulam Noon (DIN 00391683), Independent Director of the Company who was ea
appointed as a Director retiring by rotation and therefore retires by rotation at this AnGeneral Meeting, be and is hereby appointed as Independent Director of the Company,liable to retire by rotation for a period up to 31 March, 2017.”
The Register of Members and Share Transfer Books of the Equity Shareholders of the Comp
will remain closed from Saturday 12 July, 2014 to Friday, 18 July, 2014 (both days inclusive). S
Transfers received in order at the Registered Office of the Company or at the office of the Regi
of the Company, by 5.30 p.m. on 11 July, 2014, will be processed for payment of equity divid
if declared, to the transferees or their mandatees.
Equity Dividend, if approved by Members at the ensuing Annual General Meeting, wil
paid on 23 July, 2014, to all those equity shareholders whose name appear in the Registe
Members of the Company, after giving effect to all valid share transfers in physical form lod
with the Company or its Registrar on or before 11 July, 2014 and in the list of beneficial ow
furnished by National Securities Depository Limited and/or Central Depository Services (In
Limited, in respect of shares held in electronic form, as at the end of the business day
11 July, 2014.
By Order of the Bo
M LakshminarayaChief Compliance Officer & Company Secre
Place : MumbaiDate : 21 May, 2014
Registered Office: Continental Building, 135, Dr Annie Besant Road, Worli, Mumbai 400 018CIN: L92132MH1982PLC028767Email:[email protected]
-
8/20/2019 ZEEL balance sheet 2013-14
50/176
48 ZEE ENTERTAINMENT ENTERPRISES LIMITED
NOTES:
1. A member entitled to attend and vote at the meeting may appoint a proxy to attend and vote
on a poll on his behalf. A proxy need not be a member of the Company. A person can act as
proxy on behalf of not exceeding fifty Members and holding in the aggregate not more than
10% of the total Equity Share Capital of the Company. Any Member holding more than 10%
of the total Equity share capital of the Company may appoint a single person as proxy and
in such a case, the said person shall not act as proxy for any other person or member. The
instrument appointing proxy should, however, be deposited at the Registered Office of the
Company not less than 48 hours before the commencement of the Meeting.
2. Explanatory Statement pursuant to Section 102 of the Companies Act, 2013, relating to the
Special Business to be transacted at the Annual General Meeting is annexed.
3. Corporate Members are requested to send to the Registered Office of the Company, a dulycertified copy of the Board Resolution, pursuant to Section 113 of the Companies Act, 2013,
authorising their representative to attend and vote at the Annual General Meeting.
4. Additional information, pursuant to Clause 49 of the Listing Agreement with Stock Exchanges,
on Directors recommended by the Board for appointment / re-appointment at the Annual
General Meeting forms part of the Report on Corporate Governance in the Annual Report.
In connection with appointment / re-appointment of Prof Sunil Sharma, Prof (Mrs) Neharika
Vohra and Lord Gulam Noon in terms of Section 149 read with Schedule IV of the Companies
Act, 2013, the Board of Directors have reviewed the declarations made by each of them that
they meet the criteria of independence as provided in Section 149(6) of the Companies Act,
2013 and the Board is of opinion that they fulfill the conditions specified in the Act and the
rules made there under and they are independent of the management of the Company.
5. Members who are holding Company’s shares in dematerialised form are required to bring
details of their Beneficiary Account Number for identification.
6. Members who wish to obtain information on the Financial Statements for the year ended
31 March, 2014, may send their queries at least seven days before the AGM to the Chief
Compliance Officer & Company Secretary at the registered office of the Company or at Email
7. Equity Dividend for the financial year ended 31 March, 2007, declared by the Company
& erstwhile ETC Networks Ltd (now merged with the Company) which remains unpaid or
unclaimed, will be due for transfer to the Investor Education and Protection Fund of the Central
Government (‘IEPF’) in October 2014 & August 2014 respectively.
Members, who have not encashed their dividend warrants, issued by the Company and/or
ETC Networks Ltd, for the financial year ended 31 March, 2007, or any subsequent financial
years, are requested to lodge their claims with the Company’s Registrar and Share Transfer
Agent. Members are advised that in terms of provisions of Section 125 of the Companies
Act, 2013, the person whose unclaimed dividend is transferred to IEPF shall be entitled to
get refund out of the fund in accordance with rules made under Section 125 of Companies Act, 2013.
8. Electronic Copy of the Annual Report for 2013-14 is being sent to all the members
whose email IDs are registered with the Company/Depository Participants(s)
for communication. For members who have not registered their email address,
physical copies of the Annual Report for 2014 is being sent in permitted mode.
The Annual Report may also be accessed in the Company’s Corporate Website
www.zeetelevision.com.
9. Members are requested to notify immediately about any change in their address / e-mail
address /dividend mandate / bank details to their Depository Participant (DP) in respect of their
shareholding in Demat mode and in respect of their physical shareholding to the Company’s
NOTICE
-
8/20/2019 ZEEL balance sheet 2013-14
51/176
Annual Report 2013-1
Registrar and Share Transfer Agent, M/s Sharepro Services (India) Pvt. Ltd., at 13AB, Sam
Warehousing Complex, Second Floor, Sakinaka Telephone Exchange Lane, Off Andheri K
Road, Sakinaka, Andheri (East), Mumbai-400 072 and/or at 912, Raheja Centre, Free P
Journal Road, Nariman Point, Mumbai-400 021. Shareholders holding Equity Shares of
Company in physical form may register their email address with the Registrar and S
Transfer agent of the Company to receive all communications by the Company inclu
Annual Report and Notice of Meeting(s) by email, by sending appropriate communication
10. E-voting
In compliance with Section 108 of the Companies Act, 2013 and Companies (Management
Administration) Rules, 2014, the Company is pleased to provide members facility to exe
their right to vote at the 32nd Annual General Meeting (AGM) by electronic means and all
business may be transacted through e-Voting Services provided by Central Depository Serv(India) Limited (CDSL).
The E-voting period for all items of business contained in this Notice shall commence f
Saturday the 12 July, 2014 at 9.00 a.m. and will end on Monday, the 14 July, 2014 at 6
p.m. During this period equity shareholders of the Company holding shares either in phy
form or in dematerialised form as on the cutoff date of 20 June, 2014, may cast their v
electronically. The e-voting module shall be disabled by CDSL for voting there after. O
the vote on a resolution is cast by any Member, he/she shall not be allowed to chang
subsequently.
The voting rights of Members shall be in proportion to their equity shareholding in the paid
equity share capital of the Company as on 20 June, 2014.
11. The Company shall appoint an Independent Professional as Scrutiniser to conduct
E-voting in a fair and transparent manner. The Scrutiniser shall within a period of not excee
3 working days from the conclusion of voting period, shall unblock the votes in presenctwo witness, who are not in employment of the Company and after scrutinising such vo
received shall make a Scrutinisers report of the votes cast in favor or against or invalid vote
connection with the resolution(s) mentioned in the Notice of the Meeting and submit the s
forthwith to the Chairman of the Company.
12. The Results of E-voting shall be declared at the AGM of the Company and the results a
with Scrutiniser’s report shall be placed on the website of the Company thereafter and
also be communicated to the Stock Exchanges. The Resolutions shall be deemed to
passed, if approved, on the date of AGM.
13. The instructions and process for e-voting are as under:
Open your web browser during the voting period and log on to the e-voting web
www.evotingindia.com
Now click on ‘Shareholders’ tab to cast your votes
Now, select the ‘Electronic Voting Sequence Number (EVSN)’ along with ‘Zee EntertainmEnterprises Limited’ from the drop down menu and click on ‘SUBMIT’
Now Enter your User ID (For CDSL: 16 digits beneficiary ID, For NSDL: 8 Chara
DP ID followed by 8 Digits Client ID, Members holding shares in Physical Form sho
enter Folio Number registered with the Company and then enter the Captcha Code
displayed and Click on Login.
If you are holding shares in Demat form and had logged on to www.evotingindia.com
casted your vote earlier for EVSN of any company, then your existing password is t
used. If you are a first time user follow the steps given below.
Now, fill up the following details in the appropriate boxes:
-
8/20/2019 ZEEL balance sheet 2013-14
52/176
50 ZEE ENTERTAINMENT ENTERPRISES LIMITED
PAN*
Enter your 10 digit alpha-numeric *PAN issued by Income Tax
Department (in Capital) (Applicable for both demat shareholders as
well as physical shareholders)
DOB#
Enter the Date of Birth as recorded in your demat account or in the
Company records for the said demat account or folio in dd/mm/
yyyy format.
Dividend Bank Details#Enter the Dividend Bank Details as recorded in your demat account
or in the Company records for the said demat account or folio.
* Members who have not updated their PAN with the Company/Depository Participant are
requested to use the first two letters of their name and the sequence number in the PAN field.
Incase the sequence number is less than 8 digits enter the applicable number of 0’s before
the number after the first two characters of the name. Eg. If your name Manish Kumar with
sequence number 1 then enter MA00000001 in the PAN field.# Please enter any one of the details in order to login. Incase either of the details are not recorded
with the depository please enter the default number 1234 in the Dividend Bank details field.
After entering these details appropriately, click on ‘SUBMIT’
Equity Shareholders holding Equity shares in Physical form will then reach directly to the EVSN
selection screen. However Equity Shareholders holding shares in Demat form will now reach
‘Password Change’ menu wherein they are required to mandatorily enter their login password
in the new password field. Kindly note that this password is also to be used by the Demat
holders for voting for resolution of any other Company on which they are eligible to vote,
provided that Company opts for e-voting through CDSL platform. It is strongly recommended
not to share your password with any other person and take utmost care to keep your password
confidential
Equity Shareholders holding shares in physical form can use these details only for e-voting on
the resolutions contained in this Notice.
Click on the relevant EVSN on which you choose to vote.
On the voting page, you will see Description of Resolution(s) and option for voting Yes/No for
voting. Select the option yes or no as desired. The option ‘YES’ implies that you assent to the
resolution & ‘NO’ implies that you dissent to the resolution
Click on the Resolution file link if you wish to view the entire Notice.
After selecting the resolution you have decided to vote on, click on ‘SUBMIT’. A confirmation
box will be displayed. If you wish to confirm your vote, click on ‘OK’, else to change your vote,
click on ‘CANCEL’ and accordingly modify your vote.
Once you ‘CONFIRM’ your vote on the resolution, you will not be allowed to modify your vote.
You can also take out print of the voting done by you by clicking on ‘Click here to print’ option
on the Voting page
If Demat account holder has forgotten the changed password then enter the User ID and
Captcha Code click on Forgot password & enter the details as prompted by the system.
Institutional Equity Shareholders (i.e. other than individuals, HUF, NRI etc) are required to log
on https://www.evotingindia.co.in and register themselves as Corporates. After receiving the
login details they have to link the account(s) which they wish to vote on and then cast their
vote. They should upload a scanned copy of the Board resolution and Power of Attorney
which they have issued in favour of the Custodian, if any, in PDF format in the system for the
scrutiniser to verify the same.
In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked
Questions and e-voting manual available at www.evotingindia.co.in under help section or write
an email to CDSL on [email protected] or to the Investor relations officer of the
Company on [email protected]
NOTICE
-
8/20/2019 ZEEL balance sheet 2013-14
53/176
Annual Report 2013-1
EXPLANATORY STATEMENT UNDER SECTION 102 OF THE COMPANIES
ACT 2013
Item No. 6
Based on recommendation of the Nomination Committee of the Board of Directors and a
reviewing confirmation of independence received, the Board of Directors of the Company at
meeting held on 22 January, 2014 appointed Prof Sunil Sharma, faculty of Strategic Managem
in Indian Institute of Management, Ahmedabad, as an Additional Director of the Company
the category of Independent Directors. Pursuant to Section 161(1) of the Companies Act 20
Prof Sharma holds his office till the date of this Annual General Meeting. Appropriate notice
been received by the Company from a member proposing appointment of Prof Sunil Sharma
Director of the Company and requisite consent has been received from Mr Sunil Sharma purs
to provisions of Section 152 of the Companies Act 2013. In the opinion of the Board, Prof S
Sharma who is proposed to be appointed as an Independent Director of the Company for
period up to 21 January, 2017 fulfils the conditions specified under Section 149(6) and Sched
IV of the Companies Act 2013 and is Independent of the management.
Brief Profile and other details of Prof Sunil Sharma forms part of the Corporate Governance Rep
Your Board recommends the Ordinary resolution as set out in Item No 6 for approval of Memb
None of the Directors and/or Key Managerial Personnel of the Company or their relatives, exc
Prof Sunil Sharma (whose appointment is proposed in this resolution) are in any way concerne
interested in the resolution.
Item No. 7
Based on recommendation of the Nomination Committee of the Board of Directors and a
reviewing confirmation of independence received, the Board of Directors of the Company at
meeting held on 12 March, 2014 appointed Prof (Mrs) Neharika Vohra, faculty in Indian Inst
of Ahmedabad in the area of Organisational Behaviour, as an Additional Director of the Comp
in the category of Independent Directors. Pursuant to Section 161(1) of the Companies Act 2
Prof Neharika Vohra holds her office till the date of this Annual General Meeting. Appropriate no
has been received from a member proposing appointment of Prof Neharika Vohra as Dire
of the Company and requisite consent has been received from Prof Neharika Vohra purs
to provisions of Section 152 of the Companies Act 2013. In the opinion of the Board, Prof (M
Neharika Vohra who is proposed to be appointed as an Independent Director of the Compan
the period up to 11 March, 2017 fulfils the conditions specified under Section 149(6) and Sche
IV of the Companies Act 2013 and is Independent of the management.
Brief Profile and other details of Prof (Mrs) Neharika Vohra forms part of the Corporate Governa
Report.
Your Board recommends the Ordinary resolution as set out in Item No 7 for approval of Memb
None of the Directors and/or Key Managerial Personnel of the Company or their relatives, exc
Prof (Mrs) Neharika Vohra (whose appointment is proposed in this resolution) are in any
concerned or interested in the resolution.
Item No. 8 & 9
At the meeting held on 22 January, 2014, the Board of Directors of the Company had, based
recommendation of Nomination Committee of the Board of Directors, approved appointment o
Subodh Kumar, IAS (Retd) as an Additional Dire