Sun TV Network : Annual Report 2023

38th Annual Report 2023

CORPORATE INFORMATION

BOARD OF DIRECTORS
Kalanithi Maran	Executive Chairman
R. Mahesh Kumar	Managing Director
Kavery Kalanithi	Executive Director
K. Vijaykumar	Executive Director
Kaviya Kalanithi Maran	Executive Director
S. Selvam	Non-Executive Director
M.K. Harinarayanan	Independent Director
Nicholas Martin Paul	Independent Director
R. Ravivenkatesh	Independent Director
Desmond Hemanth Theodore	Independent Director
Sridhar Venkatesh	Independent Director
Mathipoorana Ramakrishnan	Independent Director
V.C. Unnikrishnan	Chief Financial Officer
R. Ravi	Company Secretary & Compliance Officer
BANKERS
Axis Bank	ICICI Bank
City Union Bank	State Bank of India
HDFC Bank
AUDITORS
M/s. S.R. Batliboi & Associates LLP
Chartered Accountants,
6th Floor, A Block, Tidel Park, No. 4,
Rajiv Gandhi Salai, Taramani,
Chennai- 600113.

SECRETARIAL AUDITORS

M/s. Lakshmmi Subramanian & Associates

Practicing Company Secretaries,

Murugesa Naicker Office Complex,

No:81, Greams Road,

Chennai - 600006.

CINL22110TN1985PLC012491

REGISTERED OFFICE

Murasoli Maran Towers

73, MRC Nagar Main Road

MRC Nagar, Chennai - 600028

www.suntv.in

REGISTRAR AND SHARE TRANSFER AGENT

M/s. KFin Technologies Limited

Karvy Selenium Tower B,

Plot Number 31 & 32, Financial District,

Gachibowli, Hyderabad - 500 032

www.kfintech.com

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Annual Report 2022-2023

Sun TV Network Limited

CORPORATE INFORMATION

AUDIT COMMITTEE
Nicholas Martin Paul	Chairman
M.K. Harinarayanan
R. Ravivenkatesh
Sridhar Venkatesh
NOMINATION & REMUNERATION COMMITTEE
Nicholas Martin Paul	Chairman
M.K. Harinarayanan
R. Ravivenkatesh
Sridhar Venkatesh
STAKEHOLDERS' RELATIONSHIP COMMITTEE
M.K. Harinarayanan	Chairman
Nicholas Martin Paul
R. Ravivenkatesh
Sridhar Venkatesh
MANAGEMENT
Kalanithi Maran	Executive Chairman
R. Mahesh Kumar	Managing Director
Kavery Kalanithi	Executive Director
K. Vijaykumar	Executive Director
Kaviya Kalanithi Maran	Executive Director
V.C. Unnikrishnan	Chief Financial Officer
C. Praveen	Chief Operating Officer
S. Kannan	Chief Technical Officer
R. Ravi	Company Secretary and Compliance Officer

CONTENTS

	Page No.
Financial Performance	3
Notice	4-15
Directors Report	16-33
Management Discussion and Analysis Report	34-39
Corporate Governance Report	40-57
Business Responsibility and Sustainability Report	58-83
Independent Auditors' Report on Standalone
Financial Statements	84-95
Standalone Financial Statements	96-159
Independent Auditors' Report on Consolidated
Financial Statements	160-169
Consolidated Financial Statements	170-236

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Annual Report 2022-2023

03 Annual Report 2022-2023

FINANCIAL PERFORMANCE FOR LAST 10 YEARS

( All amounts are in Crores of Indian Rupees, unless otherwise stated )

Financial Highlights

Particulars	2022-23	2021-22	2020-21	2019-20	2018-19	2017-18	2016-17	2015-16	2014-15	2013-14
Revenue	3,661.37	3,504.88	3,116.59	3,404.42	3,663.27	2,862.45	2,558.25	2,395.21	2,243.62	2,096.78
Total Income	4,023.40	3,749.64	3,388.03	3,653.35	3,883.22	3,002.10	2,703.80	2,502.75	2,331.45	2,175.99
PBITDA	2,711.31	2,508.55	2,338.84	2,484.99	2,784.26	2,099.13	1,882.52	1,803.48	1,702.04	1,471.73
Operating Expenditure	1,312.09	1,241.09	1,049.19	1,168.36	1,098.96	902.97	821.28	699.27	629.41	633.40
Depreciation & Amortization	467.82	286.67	382.06	679.33	646.67	439.68	391.14	485.02	587.83	453.34
Profit before Tax	2,238.12	2,193.14	1,934.81	1,797.88	2,135.94	1,658.40	1,490.35	1,334.24*	1,111.99	1,084.71
Profit after Tax	1,674.53	1,644.80	1,520.41	1,371.83	1,394.86	1093.04	979.41	869.69	737.23	716.96
Equity Dividend %	300%	275%	100%	500%	250%	200%	200%	310%	225%	190%
Key Indicators

Particulars	2022-23	2021-22	2020-21	2019-20	2018-19	2017-18	2016-17	2015-16	2014-15	2013-14
Earnings per share (Rs.)	42.49	41.74	38.58	34.81	35.39	27.74	24.85	22.07**	18.71	18.19
Book Value per share (Rs.)	231.88	204.35	176.33	142.71	138.05	117.75	102.50	89.26	85.76	80.49
PBITDA%	67%	67%	69%	68%	72%	70%	70%	72%	76%	70%
Net Profit Margin %	42%	44%	45%	38%	36%	36%	36%	35%	32%	33%
ROCE %	23%	26%	27%	31%	38%	35%	35%	35%	34%	36%
RONW %	18%	20%	22%	25%	28%	25%	26%	25%	23%	24%

Notes: * Profit Before Tax includes the income from exceptional items (net) of Rs. 17.97 crores. ** EPS includes the EPS on exceptional items (net) of Rs. 0.46 crores.

" Total income" is used as the denominator base for PBITDA % and Net Profit margin % indicated in the above table.

Sun TV Network Limited

NOTICE

NOTICE is hereby given that the Thirty Eighth Annual General Meeting ("AGM") of the Shareholders of Sun TV Network Limited ("the Company") will be held on Friday, the 22nd day of September 2023 at 10 A.M. (IST) through Video Conferencing ("VC")/ Other Audio- Visual Means ("OAVM"), to transact the following businesses. The venue of the meeting shall be deemed to be the Registered Office of the Company at Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai-600028.

ORDINARY BUSINESS

1. Adoption of Financial Statements:
   To receive, consider and adopt the Audited Financial Statements of the Company prepared under Indian Accounting Standards (Ind-AS) as on a standalone and consolidated basis, for the financial year ended March 31, 2023 including the Balance Sheet and the Statement of Profit & Loss Account for the financial year ended on that date, and the Reports of the Board of Directors and Auditors thereon.
2. Confirmation of Interim Dividend:
   To confirm the Interim Dividends of Rs. 5.00 per equity share (100%) of face value of Rs. 5.00 each declared on 12th August, 2022, Rs. 3.75 per equity share (75%) declared on 11th November, 2022, Rs. 3.75 per equity share (75%) declared on 3rd February, 2022 and Rs. 2.50 per equity share (50%) of face value of Rs. 5.00 on 13th March, 2023 which had already been paid, as the final dividend for the financial year ended March 31, 2023.
3. Re-appointmentof Mr. K. Vijaykumar (DIN: 03578076) as Director:
   To re-appoint a Director in the place of Mr. K. Vijaykumar (DIN: 03578076) who retires by rotation and being eligible, offers himself for re-appointment.

SPECIAL BUSINESS

4. Ratification of Remuneration of Cost Auditor.

To consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution:

"RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any of the Companies Act, 2013 read with the Companies (Audit & Auditors) Rules, 2014 (including any statutory modification(s) or re-enactment thereof, for the time being in force), the company hereby approves and ratifies the remuneration of Rs.2,20,000 /- (Rupees Two Lakh Twenty Thousand Only) plus applicable taxes and out of pocket expenses payable to M/s. S. Sundar & Associates, Cost Accountants, [Registration No: 101188] for conducting the audit of cost records of the company for the financial year ending March 31, 2024."

BY THE ORDER OF THE BOARD OF DIRECTORS

Place : Chennai	R. RAVI
Date : August 11, 2023	COMPANY SECRETARY

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Annual Report 2022-2023