The Company has one class of equity shares having a face value of Rs.5.00 each. Each shareholder is eligible for one vote per share held. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

During the year ended March 31,2023, the Board of Directors have declared an interim dividend of Rs.5 per share (100%), Rs.3.75 per share (75%), Rs.3.75 per share (75%) and Rs. 2.50 per share (50%) at their respective Board meeting held on August 12, 2022, November 11, 2022, February 3, 2023 and March 13, 2023. (March 31, 2022: Rs.13.75 /- share)

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exists currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

Disclosure for Ind AS 115:

Disaggregated revenue information

Revenue is recognized when the performance obligations under the contract with customers are satisfied. In respect of all classes of revenue from operations as disclosed above, the performance obligation is satisfied at a point in time. For disaggregation of revenue by geographical regions, refer Note 33 - Segment information.

Trade Receivables and Contract assets / liabilities

Trade receivable and Unbilled revenue : The Company classifies the right to consideration in exchange for deliverables as contract receivable / unbilled revenue. A receivable is a right to consideration that is unconditional upon passage of time. Revenues in excess of billings is recorded as unbilled revenue and is classified as a other current asset. Trade receivable and unbilled revenues are presented net of impairment in Note 10 and Note 8.2 respectively. Deferred income / unearned revenue : Billings in excess of revenue recognised are disclosed as “Deferred Revenues” under other current liabilities - Note 19;

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year.Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

Note 29. Leases disclosures

The Company has entered into operating leases on KU band Satellite transponders on non cancellable operating lease, with lease terms between 1 and 5 years. The Company has also entered into operating lease arrangements for office premises.

A) Defined Contribution plans

i) Contribution to Provident Fund : Contributions towards Employees Provident Fund made to the Regional / Employee Provident Fund are recognised as expenses in the year in which the services are rendered.

ii) Contribution to Employee State Insurance : Contributions to Employees State Insurance Scheme are recognised as expense in the year in which the services are rendered.

B) Defined benefit plan - Gratuity

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on cessation of employment at 15 days salary (last drawn salary) for each completed year of service. The fund has the form of a trust and it is governed by the Board of Trustees. The Board of Trustees are responsible for the administration of the plan assets and for the definition of the investment strategy. Each year, the Board of Trustees reviews the level of funding in the gratuity plan. Such a review includes the asset-liability matching strategy and investment risk management policy. The Board of Trustees aim to keep annual contributions relatively stable at a level such that no plan deficits (based on valuation performed) will arise.

The scheme is funded with an insurance company (LIC) in the form of a qualifying insurance policy.

The following tables summarize the components of net benefit expense recognised in the statement of profit and loss and the funded status and amounts recognised in the balance sheet for the Gratuity plan.

The overall expected rate of return on assets is determined based on market prices prevailing on that date, applicable to the period over which the obligation is to be settled. The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market. Based on the experience of the previous years, the Company expects to contribute about Rs.1.40 crores to the gratuity fund in the next year. However, the actual contribution by the Company will be based on the actuarial valuation report received from the insurance Company.

The Company contributes all ascertained liabilities towards gratuity to the Sun TV Network Ltd Employees Group Gratuity Trust and the Trustees also administer the contributions so made to the trust. As of March 31, 2023 and March 31,2022 the plan assets have been primarily invested in insurer managed funds.

The sensitivity analysis above have been determined based on a method that extrapolates the impact on defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period. The sensitivity analysis are based on a change in significant assumption, keeping all other assumptions constant. The sensitivity analysis may not be a representative of an actual change in the defined benefit obligation as it is unlikely that changes in assumptions would occur in isolation from one another.

Note 31. Contingencies A) Contingent Liabilities

a. Matters wherein management has concluded that the Company’s liability is probable has been provided for.

b. Contingent liability is disclosed in case of:

i) a present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the obligation; and

ii) a present obligation arising from past events, when no reliable estimate is possible. (Refer note below for the related disclosure)

Contingent assets are disclosed where an inflow of economic benefits is probable. Provision, contingent liabilities, and contingent assets are reviewed at each Balance Sheet date.

c. Matters wherein management is confident of succeeding in these litigations and have concluded the liability to the Company to be remote. This is based on the relevant facts of judicial precedents and as advised by legal counsel which involves various legal proceedings and claims, in different stages of process, in relation to civil and criminal matters.

*The Company received show cause cum demand notice from the Service Tax and Goods and Service Tax department seeking service tax on certain services and disallowances of input credit availed on certain services. The Company has filed appeals for all such show cause notices /orders received with various authorities. The Company based on the judicial pronouncements and other submissions that believes its position is likely to be accepted by the authorities.

**The Company is contesting certain disallowances to the taxable income and demands raised by the Income tax authorities. The management, based on internal assessment and considering the views of its tax advisors, believe that its position will likely be upheld in the appellate process and ultimate outcome of these proceedings will not have a material adverse effect on the Company’s financial position and results of operations.

The management assessed that the fair value of cash and cash equivalents, trade receivables, trade payables and other current and non current financial liabilities and financial assets approximate their carrying amounts largely due to the short-term maturities of these instruments.

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The method and assumptions used to estimate the fair values is the fair values of financial instruments traded in active markets are based on quoted market prices at the balance sheet date.

Note 36. Description of valuation techniques used and key inputs to valuation on investment in tax free and taxable bonds:

The valuation for tax free and taxable bonds are based on valuations performed by an accredited independent valuer. The valuer is a specialist in valuing these types of Bonds. The valuation model used is in accordance with a method recommended by the International Valuation Standards.

The Company has disclosed fair value of the tax free and taxable bonds using IMaCS standard methodology which captures the market condition as on given day of valuation on T 1 basis.

The Company has no restrictions on the disposal of its tax free bonds.

Significant unobservable Inputs:

The Independent valuer has made detailed study based on standards methodology for scrip level valuation and have considered the available secondary market and primary market trades for valuation of bonds on reporting date. Outlier trades if any are identified and excluded. Widespread Polling is also considered with market participant to understand the movement in levels. In the case of liquid instruments, the valuation is arrived at based on the value bonds with similar maturity issued by similar issuers or securities are linked to a benchmark and a spread over benchmark is arrived at and the same is carried forward.

Note 37. Fair value disclosure on Investment properties:

The Company’s investment properties consists of office premises/ commercial properties let out on lease.

As at March 31,2023 and March 31,2022, the fair values of the properties are Rs.113.83 crores and Rs.105.93 crores respectively.

These valuations are based on valuations performed by an registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017. The valuation model used is in accordance with a method recommended by the International Valuation Standards.

The Company has no restrictions on the disposal of its investment properties and no contractual obligations to purchase, construct or develop investment properties or for repairs, maintenance and enhancements.

Description of valuation techniques used and key inputs to valuation on investment properties:

The Company has fair valued the office premises and commercial property let out on lease using Market approach method.

Significant unobservable Inputs

The independent valuer has made detailed study of prevailing market rate for the commercial buildings in the areas wherein the office premises property is being let out by the Company. This has been adjusted for amenities, depreciation and other leasehold improvements made by the Company to the respective properties.

Note 38. Financial risk management objectives and policies

The Company's principal financial liabilities, include trade and other payables. The Company has various financial assets such as trade receivables and cash and short-term deposits, which arise directly from its operations.The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the management of these risks. The Company’s senior management ensures that the Company’s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises two types of risk: currency risk and other price risk, such as equity price risk. The value of financial instruments may change as a result of changes in the foreign currency exchange rates, equity price fluctuation, liquidity and other market changes. Future specific market movements cannot be normally predicted with reasonable accuracy. Financial instrument affected by market risk includes investment in equity instruments etc.

Foreign currency risk

Foreign currency risk is the risk that the fair value of future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the Company’s operating activities. As per the Forex policy, the Company, takes forward contract for transactions where the foreign currency risk on account of movement in exchange rate expected to be high and which is material to the Company. The impact of foreign exchange rate fluctuations is evaluated by assessing its exposure to exchange rates risks. Exposure to foreign exchange fluctuation risks is with monetary receivables / payables denominated in AFD Alin IlSn HAH RRP 7ARanHSm

Foreign currency sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in foreign exchange rates, with all other variables held constant. The impact on the Company’s profit before tax is due to changes in the fair value of monetary assets and liabilities. The sensitivity analysis in the following sections relate to the position as at March 31, 2023 and March 31,2022 and as forecasted for volatile currencies.

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty fails to meet its contractual obligations and arises principally from the Company’s receivables, deposits given, investments made and balances at bank. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as

well as concentration of risks. Credit risk is controlled by analysing credit limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

The maximum exposure to the credit risk is equal to the carrying amount of financial assets as of March 31,2023 and March 31, 2022 respectively. On account of adoption of Ind AS 109 on ‘Financial Instruments’, the Company uses expected credit loss model to assess the impairment loss or gain.

Liquidity risk

The Company's prime source of liquidity is cash and cash equivalents and the cash flow generated from operations. The Company has no outstanding bank borrowings. The Company believes that the working capital is sufficient to meet its current requirements. Accordingly, no liquidity risk is perceived.

As of March 31, 2023, the Company had a working capital of Rs.4,876.07 crores (March 31, 2022 - Rs.4,359.90 crores) including cash and cash equivalents of Rs.127.13 crores (March 31,2022 - Rs.215.73 crores) and current investment of Rs.3,499.34 crores (March 31,2022 - Rs. 2,421.98 crores).

As of March 31,2023 and March 31,2022 there are no material liability which is outstanding. Accordingly, no liquidity risk is perceived.

The table below summarises the maturity profile of the Company’s financial liabilities based on contractual undiscounted payments.

Note 39. Capital management

For the purpose of the Company’s capital management, capital includes issued equity capital, securities premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to maximise the shareholder value.

Note 43. The Company has no borrowings or charge created as at March 31, 2023 and March 31,2022. In earlier years, the Company had registered "Satisfaction of Charges" with Registrar of Companies (ROC) in respect of 3 charges amounting to Rs.0.29 Crores; However these charges are appearing as "open" in MCA website due to non updation and the Company is following up with MCA for necessary corrections.

Note 44. The Company has reclassified / regrouped previous year figures to conform to this year's classification. Note 45. Approval of financial statements

The standalone financial statements were reviewed and recommended by the Audit Committee and has been approved by the Board of Directors at their meeting held on May 19, 2023.