Close
x
  • SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c
  • SENSEX Nov 30 2021 12:00
    57,064.87 -195.71 (-0.34%)
  • NIFTY Nov 30 2021 12:00
    16,983.20 -70.75 (-0.41%)
  • SENSEX Nov 30 2021 12:00
    57,064.87 -195.71 (-0.34%)
  • NIFTY Nov 30 2021 12:00
    16,983.20 -70.75 (-0.41%)
  • Nasdaq Nov 30 2021 04:30
    15,782.83 +291.17 ( +1.88%)
  • DJIA Nov 30 2021 04:30
    35,135.94 +236.60 ( +0.68%)
  • S&P 500 Nov 30 2021 04:30
    4,655.27 +60.65 ( +1.32%)
  • Hang Seng Nov 30 2021 02:10
    23,475.26 -376.98 (-1.58%)
  • Crude Oil Nov 30 2021 08:48
    5,106.00 -237.00 (-4.44%)
  • Gold Nov 30 2021 08:35
    48,128.00 +541.00 ( +1.14%)
  • Silver Nov 30 2021 08:26
    62,423.00 +783.00 ( +1.27%)
  • Copper Nov 30 2021 04:09
    729.90 -5.35 (-0.73%)
  • Pound / Rupee Dec 23 2016 22:30
    99.73 +0.54 ( +0.54%)
  • Dollar / Rupee Dec 23 2016 22:30
    74.83 +0.41 ( +0.55%)
  • Euro / Rupee Dec 23 2016 22:30
    84.59 +1.15 ( +1.37%)
  • Yen / Rupee Dec 23 2016 22:30
    0.66 +0.01 ( +2.25%)

Zee Entertainment Enterprises Ltd

BSE Code : 505537 | NSE Symbol : ZEEL | ISIN:INE256A01028| SECTOR : Entertainment |

NSE BSE
 
SMC down arrow

324.30

-5.60 (-1.70%) Volume 280564

30-Nov-2021 EOD

Prev. Close

329.90

Open Price

334.00

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

324.30(11810)

 

Today’s High/Low 336.40 - 321.50

52 wk High/Low 362.90 - 166.80

Key Stats

MARKET CAP (RS CR) 31154.33
P/E 20.06
BOOK VALUE (RS) 95.1860696
DIV (%) 250
MARKET LOT 1
EPS (TTM) 16.17
PRICE/BOOK 3.40753643220079
DIV YIELD.(%) 0.77
FACE VALUE (RS) 1
DELIVERABLES (%) 17.55
4

News & Announcements

23-Nov-2021

Zee Entertainment Enterprises Ltd - Zee Entertainment Enterprises Limited - Updates

15-Nov-2021

Zee Entertainment Enterprises Ltd - Zee Entertainment Enterprises Limited - Copy of Newspaper Publication

13-Nov-2021

Zee Entertainment Enterprises consolidated net profit rises 187.19% in the September 2021 quarter

12-Nov-2021

Zee Entertainment Q2 PAT spurts 187% YoY to Rs 270 cr

06-Nov-2021

Zee Entertainment Enterprises to convene board meeting

27-Oct-2021

Zee Entertainment Enterprises cancels board meeting

26-Oct-2021

Zee Entertainment Enterprises postpones board meeting

21-Oct-2021

Zee Entertainment Enterprises schedules board meeting

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
3rd Rock Multimedia Ltd 532066 3RDROCK
52 Weeks Entertainment Ltd 531925
Aastha Broadcasting Network Ltd 503673
AMGF Intercorp Ltd 40267
Asian Films Production & Distribution Ltd 532047
B A G Films & Media Ltd 532507 BAGFILMS
Baba Arts Ltd 532380
Balaji Telefilms Ltd 532382 BALAJITELE
BGIL Films & Technologies Ltd 511664
BMB Music & Magnetics Ltd 531420
Bodhi Tree Multimedia Ltd 535366 BTML
Broadcast Initiatives Ltd 532816 BROADCAST
CDI International Ltd 526141 COMPACDISC
Channel Nine Entertainment Ltd 535142
Cineline India Ltd 532807 CINELINE
Cinemax India Ltd(Merged) 534711 CINEMAXIN
Cinerad Communications Ltd 530457
Cinevista Ltd 532324 CINEVISTA
City Pulse Multiplex Ltd 542727
Colorchips New Media Ltd 540023
Creative Eye Ltd 532392 CREATIVEYE
Credence Sound & Vision Ltd 526741
Crest Animation Studios Ltd 526785 CRESTANI
Cyber Media (India) Ltd 532640 CYBERMEDIA
D B Corp Ltd 533151 DBCORP
Deccan Chronicle Holdings Ltd 532608 DCHL
Den Networks Ltd 533137 DEN
Digicontent Ltd 542685 DGCONTENT
Diksat Transworld Ltd 540151
Diligent Media Corporation Ltd 540789 DNAMEDIA
Dish TV India Ltd 532839 DISHTV
Divine Entertainment Ltd 531907
Divine Multimedia (India) Ltd 523810
DQ Entertainment International Ltd 533176 DQE
DSJ Keep Learning Ltd 526677 DALALSTCOM
Eduexel Infotainment Ltd 526483
Entertainment Network (India) Ltd 532700 ENIL
Eros International Media Ltd 533261 EROSMEDIA
ETC Networks Ltd (Merged) 506156 ETCNETWORK
ETC Networks Ltd(merged) 532615 ETCNET
Fame India Ltd(Merged) 532631 FAME
Fast Track Entertainment Ltd 532084
Filmcity Media Ltd 531486
G V Films Ltd 523277
Galaxy Cloud Kitchens Ltd 506186
Ganesh Films India Ltd 541703
Giriraj Entertainment Ltd 532037
Global Films & Broadcasting Ltd 531660
Goldfish Entertainment Ltd 531251
Gradiente Infotainment Ltd 590126
GTPL Hathway Ltd 540602 GTPL
H T Media Ltd 532662 HTMEDIA
Hathway Bhawani Cabletel & Datacom Ltd 509073
Hathway Cable & Datacom Ltd 533162 HATHWAY
Hindustan Media Ventures Ltd 533217 HMVL
Inhouse Productions Ltd 526610
Inox Leisure Ltd 532706 INOXLEISUR
Jagran Prakashan Ltd 532705 JAGRAN
Jain Studios Ltd 532033 JAINSTUDIO
Jump Networks Ltd 531337 JUMPNET
Khyati Multimedia Entertainment Ltd 531692
Koffee Break Pictures Ltd 531602
Kohinoor Broadcasting Corporation Ltd 531366
Kome-on Communication Ltd 539910
KSS Ltd 532081 KSERASERA
Landmarc Leisure Corporation Ltd 532275
Lila Worldwide Ltd 531894 VATSMUSC
Madhya Pradesh Today Media Ltd 535009 MPTODAY
Media Matrix Worldwide Ltd 512267 MMWL
Mediaone Global Entertainment Ltd 503685
Midvalley Entertainment Ltd 533310
Moving Picture Company (I) Ltd 590011
Mukta Arts Ltd 532357 MUKTAARTS
Music Broadcast Ltd 540366 RADIOCITY
Net Pix Shorts Digital Media Ltd 543247
New Delhi Television Ltd 532529 NDTV
Next Mediaworks Ltd 532416 NEXTMEDIA
Nextgen Animation Mediaa Ltd 532999
Nine Media & Information Services Ltd 531150
NxtDigital Ltd 500189 NXTDIGITAL
Odyssey Video Communications Ltd 517465
Orient Tradelink Ltd 531512
Ortel Communications Ltd 539015 ORTEL
P. B. Films Ltd 539352
Padmalaya Telefilms Ltd 532350 PADMALAYAT
Panorama Studios International Ltd 539469
Pentamedia Graphics Ltd 500329 PENTSFWARE
Picturehouse Media Ltd 532355
Pooja Entertainment & Films Ltd 532011
Prime Focus Ltd 532748 PFOCUS
Pritish Nandy Communications Ltd 532387 PNC
Purple Entertainment Ltd 540159
PVR Ltd 532689 PVR
Pyramid Saimira Theatre Ltd(Merged) 532791 PSTL
Radaan Mediaworks (I) Ltd 590070 RADAAN
Radan Multimedia Ltd 523451
Raj Television Network Ltd 532826 RAJTV
Reliance Broadcast Network Ltd 533143 RBN
Reliance MediaWorks Ltd 532399 RELMEDIA
SAB Events & Governance Now Media Ltd 540081 SABEVENTS
Sadhna Broadcast Ltd 540821
Sagar Productions Ltd 532092
Sahara One Media and Entertainment Ltd 503691
Sai Television Ltd 521321 SAITELE
Sambhaav Media Ltd 511630 SAMBHAAV
Saregama India Ltd 532163 SAREGAMA
SDC Techmedia Ltd 535647
Sea TV Network Ltd 533268
Shalimar Productions Ltd 512499
Shemaroo Entertainment Ltd 538685 SHEMAROO
Shree Ashtavinayak Cine Vision Ltd 532793 SHREEASHTA
Sibar Media & Entertainment Ltd 532353
Silly Monks Entertainment Ltd 535043 SILLYMONKS
Siti Networks Ltd 532795 SITINET
Sowbhagya Media Ltd 532025
Spicy Entertainment & Media Ltd 540084
Sri Adhikari Brothers Television Network Ltd 530943 SABTN
Srishti Video Corp Ltd 517366 SRISHTIVID
SRS Ltd 533569 SRSLTD
Sun TV Network Ltd 532733 SUNTV
T.V. Today Network Ltd 532515 TVTODAY
Television Eighteen India Ltd (Merged) 532299 TV-18
Thinkink Picturez Ltd 539310
Tips Industries Ltd 532375 TIPSINDLTD
Trilogic Digital Media Ltd 531712
TV Vision Ltd 540083 TVVISION
TV18 Broadcast Ltd 532800 TV18BRDCST
UFO Moviez India Ltd 539141 UFO
Unistar Multimedia Ltd 532035
Universal Arts Ltd 532378
Universal Media Network Ltd 531790
UTV Software Communications Ltd 532619 UTVSOF
V R Films & Studios Ltd 542654
Veronica Production Ltd 531695
Via Media India Ltd 526759
Vision Cinemas Ltd 526441
Vision Corporation Ltd 531668
Zee Media Corporation Ltd 532794 ZEEMEDIA

Share Holding

Category No. of shares Percentage
Total Foreign 652350005 67.92
Total Institutions 153470345 15.98
Total Govt Holding 1412740 0.15
Total Non Promoter Corporate Holding 17209903 1.79
Total Promoters 38316284 3.99
Total Public & others 97763146 10.18
Total 960515715 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Zee Entertainment Enterprises Ltd

Zee Entertainment Enterprises Limited is one of India's leading media and entertainment companies. It is amongst the largest producers and aggregators of entertainment content in the world, with an extensive library housing over 250,000 hours of television content. With rights to more than 4,200 movie titles from foremost studios and of iconic film stars, Zee houses the world's largest Hindi film library. Through its strong presence worldwide, Zee entertains over 1.3 billion viewers across more than 170 countries. Zee and its affiliate companies have leading presence across the media value chain including television broadcasting, cable distribution, direct-to-home satellite services, digital media and print media amongst others. As on March 31, 2018, the Company had 29 Subsidiaries, 2 associates and 1 joint venture Company. Pioneer of television entertainment industry in India, Zee Entertainment Enterprises' well-known brands include Zee TV, Zee Anmol, Big Magic, Zee Cinema, & pictures, Zee Action, Zee Classic, Zee Anmol Cinema, Zee Cafe, Zee Studio, Zing, ETC Bollywood. The company also has a strong offering in the regional language domain with channels such as Zee Marathi, Zee Talkies, Zee Yuva, Zee Bangla, Zee Bangla Cinema, Zee Telugu, Zee Cinemalu, Zee Kannada, Zee Tamil, Zee Sarthak and Big Ganga. The company's HD offerings include Zee TV HD, &tv HD, Zee Cinema HD, &pictures HD, Zee Marathi HD, Zee Talkies HD, Zee Bangla HD, Zee Tamil HD, Zee Telugu HD, Zee Cinemalu HD, Zee Studio HD, Zee Cafe HD and &prive HD. Zee Entertainment Enterprises has three sources of revenue viz. advertising, subscription and other sales and services. Other sales and services include revenues from movie production business, content syndication, music label and commission on sales amongst others. Zee Entertainment Enterprises Ltd was incorporated in November 25th, 1982. The company was previously known as Zee Telefilms Ltd. In the year 1992, the company launched their flagship television channel Zee TV. Since then, they have transformed themselves into an integrated media conglomerate with operations spanning the entire media spectrum including television programming; satellite broadcasting; production and distribution of films; music publishing, long distance education and the creation of animation software. The Company is mainly involved in the businesses of broadcasting of satellite television channels, space selling agent for other satellite television channels and sale of media content i.e. programs/film rights/feeds/music rights. In the year 1994, Zee Records, the music-publishing arm of Zee, commenced their operations. Also, they launched Zee Education as a division of the company. The company's 100% owned subsidiary, Siticable Networks Ltd (Siticable) commenced their operations as an MSO in Delhi for cable distribution system in India. In the year 1995, Newscorp acquired a 50% stake in Siticable Networks Ltd in an equal joint venture with the company. The company launched Zee TV in the UK / Europe. Also, they launched Zee News and Zee Cinema. In the year 1996, the company started their first cable channel in India under the name of Siti Channel. In the year 1997, they launched Zee Music (originally known as Music Asia). In the year 1998, the company launched Zee TV in the USA. Also, they launched Zee Cine Awards. During the year 1998-99, the company obtained 'A' category license for providing Internet services in India. During the year 1999-2000, the company acquired 50% stake in Asia Today Ltd, Siticable and Programme Asia Trading Company Ltd. They launched four regional channels under the umbrella brand of Alpha, namely Alpha Marathi, Alpha Bangla, Alpha Punjabi and Alpha Gujarato. Also, they launched two new 24-hour channels, namely Zee English and Zee Movies to enter the English language market. They launched two new channels namely Zee Bangla and Musia Asia in UK and launched Zee Gold in USA. During the year, the education division of the company was demerged and transferred to a separate subsidiary company namely, Zee Interactive Learning Systems Ltd. In September 1999, the company acquired Zee Multimedia Worldwide Ltd and thus all the international operations including the broadcasting business of ZMWL came under the company's control. During the year 2000-01, the company launched the Direct-to-Operator (DTO) encrypted channel bouquet comprising of Zee Cinema, four Alpha channels and two English channels. Also, they divested their stake in Buddha Films Ltd (BFL), Zee Sports Ltd (ZSL) and Zee Publishing Ltd (ZPL). During the year 2001-02, the company produced their first big budget movie 'Gadar -Ek Prem Katha'. They formed a joint venture company 'Zee Turner Pvt Ltd' to market and distribute the pay channel bouquet consisting of 14 channels of Zee and 3 channels of Turner in the Indian sub-continent, thereby creating a formidable combination of highly popular channels. They consolidated their operations by linking their various control rooms through HFC. Master Control Rooms (MCR) was established at Hyderabad and Bangalore linking the control rooms through optic fibre, thereby ensuring improvement in the quality of signal delivery to customers. During the year, Zee Interactive Multimedia Ltd, a company set up to provide broadband and conditional access services, merged with Siticable Network Ltd. The company acquired a controlling stake in ETC Networks Ltd, a company engaged in production, marketing and distribution of two television channels with a leading presence in Music and Punjabi language segment. With these acquisitions ETC Networks Ltd became a subsidiary of the company. Also, the company acquired a controlling stake in Padmalaya Telefilms Ltd., a company engaged in production and distribution of feature films (in Telugu and Hindi languages) and television serials. During the year 2002-03, the company hived off two of the foreign subsidiaries namely Hokushan Trading Company Ltd and Asia TV USA, Inc. Also, three wholly owned subsidiaries were merged with the company. During the year 2003-04, the company entered into an MoU with Zee News Ltd, a company 100% owned by Indian nationals, for transfer of physical infrastructure, the editorial and other staff etc, related to production and Broadcast of News and Current Affairs programme on Zee television channels including Zee News. Dakshin Media Ltd, a wholly owned subsidiary company was amalgamated with the company. Further, the company consolidated operations of their foreign subsidiary company located at Mauritius by merging of Aisa TV (Africa) Ltd, Software Supplies (International) Ltd, Zee Telefilms International Ltd and Zee MGM Ltd with Asia Today Ltd, Mauritius. Also, another overseas subsidiary, Asia T.V. (Netherlands) Ltd, BVI had been liquidated. During the year 2004-05, the company launched a new channel, namely Zee Sports to the meet the insatiable quest of Indian viewers to enjoy telecast of sports event in India and abroad. The company divested their stake in Padamalaya Enterprises Pvt Ltd, which was the holding company of Padamalaya Telefilms Ltd. Expand Fast Holdings Ltd, one of the overseas subsidiaries, merged with Asia Today Ltd, Mauritius (ATL). Also, ATL, the wholly owned subsidiary of Winterheath Company Ltd (WCL) merged with the holding company, WCL. After the merger, WCL changed its name to Asia Today Ltd. Also, ATL acquired 100% stake in Pan Asia Infrastructure Ltd, a Mauritius based company, engaged in the business of broadcast of television channel in Middle East in South Asian language and development of media city in Dubai. During the year 2005-06, Siti Cable Network Ltd, a wholly owned subsidiary of the company acquired entire shares in Indian Cable Net Company Ltd. During the year 2006-07, the company completed the process of de-merger of their News, Cable and Direct Consumer Services business undertakings. Respective resultant entities namely, Zee News Ltd (ZNL) for news business, Wire & Wireless (India) Ltd (WWIL) for cable business and Dish TV India Ltd (formerly known as ASC Enterprises Ltd) (Dish TV). Consequent to demerger of Cable and DCS Business Undertakings of the company, the subsidiaries of the company pertaining to the said business undertakings, namely, Siti Cable Network Ltd, Central Bombay Cable Networks Pvt Ltd, Integrated Subscribers Management Services Ltd, New Era Entertainment Network Ltd, Siti Cable Broadband South Ltd and Indian Cable Net Company Ltd ceased to be subsidiaries of the company. The company exited from their investment in 25 FPS Media Pvt. Ltd (25 FPS) and consequently 25 FPS ceased to be a subsidiary with effect from July 24, 2006. In November 2006, Zee Sports International Ltd, Mauritius, acquired 50% stake with majority representation in the board in Taj TV Ltd, Mauritius, which owns 'Ten Sports' channel. Also, the company acquired 50% stake with majority representation in the Board in Taj Television India Pvt Ltd, Mumbai, which is the distribution arm of Ten Sports in India. The name of the company was changed from Zee Telefilms Ltd to Zee Entertainment Enterprises Ltd with effect from January 10, 2007. During the year 2007-08, pursuant to a scheme of amalgamation, ETC Networks Ltd, a listed subsidiary of the company, merged with Zee Interactive Learning Systems Ltd. The merged entity was subsequently renamed as ETC Networks Ltd. Asia Today Ltd., Mauritius, a wholly owned overseas subsidiary of the company acquired entire equity stake in APAC Media Ventures Ltd, a company registered in Hong Kong, effective October 30, 2007, for the purpose of its broadcasting foray in the Asia Pacific Region. During the year 2008-09, Asia Today Ltd., Mauritius, a wholly owned overseas subsidiary of the company, acquired the balance 40% equity stake in Asia Business Broadcasting (Mauritius) Ltd, a company registered in Mauritius and divested their entire 100% holding in Pan Asia Infrastructure Ltd, Mauritius. Additionally with a view to comply with the regulatory requirements for Russian Broadcasting Operations, Asia TV Ltd, UK, an overseas subsidiary created/acquired an indirect subsidiary called 'OOO Zee CIS Holdings Ltd' in Russia. During the year, the company ventured into the film production and distribution business, with launch of two labels, namely Zee Motion Pictures and Zee Limelight for mainstream and niche films, respectively. For that the purpose, they acquired/created direct/indirect subsidiaries namely, ZES Holdings Ltd, Mauritius, Zee Entertainment Studios Ltd, British Virgin Islands, ZES Mauritius Ltd, Mauritius, ZES International Ltd, United Kingdom and Zee Motion Pictures Pvt Ltd., India. During the year 2009-10, as per the scheme of arrangement, the company demerged the Regional General Entertainment Channel Business Undertaking (comprising of Zee Marathi, Zee Bangle, Zee Talkies, Zee Telugu, Zee Cinemaalu and Zee Kannada television channels) of Zee News Ltd (ZNL) vesting with the company on the appointed date, January 1, 2010. The scheme became effective from March 29, 2010. Also, ETC Networks Ltd (ETC), a listed subsidiary of the company merged with the company with effect from appointed date, March 31, 2010. Upon such merger, the Education Business Undertaking of the company was demerged from the company and transferred to Zee Learn Ltd on the appointed date, April 1, 2010. Also, the 9X Channel Business Undertaking of INX Media Pvt Ltd (now known as 9X Media Private Ltd) was demerged and transferred to the company. During the year, ETC Networks Ltd (ETC), the listed subsidiary of the company acquired the entire shareholding in Cornershop Entertainment Company Pvt. Ltd which in turn held 100% stake in Cornershop Animation Pvt Ltd, Digital Media Convergence Ltd and Re-Med Services Pvt Ltd. Subsequently, these subsidiaries amalgamated with ETC from the appointed date January 1, 2010 in pursuance of a scheme of amalgamation which became effective on April 29, 2010. Asia TV Ltd, United Kingdom, one of the overseas subsidiary along with its subsidiary OOO Zee CIS Holding Ltd, Russia jointly acquired 100% stake in OOO Zee CIS Ltd, a broadcasting operating company in Russia. During the year 2010-11, the company dissolved ZES International Ltd, UK, a wholly owned subsidiary of ZES Entertainment Studios Ltd, BVI and Zee Sports Americas Ltd, Mauritius with effect from June 29, 2010 and June 9, 2011. Asia Business Broadcasting (Mauritius) Ltd, Mauritius was amalgamated with its holding company Asia Today Ltd, Mauritius. Also, Zee Entertainment Studios Ltd, BVI and ZES Mauritius Ltd, Mauritius amalgamated with their holding company ZES Holdings Ltd, Mauritius with effect from March 31, 2011 and March 18, 2011 respectively. Also, ZES Mauritius Ltd, Mauritius divested their entire stake in the Indian subsidiary, Zee Motion Pictures Pvt Ltd. During the year, the joint ventures of the company in digital distribution viz. ITM Digital Pvt Ltd, and in India branded Entertainment Portal viz. India Webportal Pvt Ltd commenced their operations. The company has in-principle approved the acquisition of the balance shareholding of 5% in Taj TV Ltd., Mauritius (Taj) by Zee Sports International Ltd, Mauritius (ZSIL), thus making Taj a wholly owned subsidiary of ZSIL and the amalgamation of ZSIL with their holding company Asia Today Ltd, Mauritius. In 2012, the Company introduces new Bangla movie channel. In 2013, the Board approved a Scheme of Arrangement between the Company and Diligent Media Corporation (DMCL) for demerger of media business undertaking from DMCL and vesting into the company. In 2014, the company has sought RBI approval for FII Investment upto 100% in the Company. In 2015, the company launched its entertainment channel Zee Hiburan in Indonesia. The company also entered into food and lifestyle segment category by introducing its new entertainment channel Living Food. Pursuant to the said Scheme of Arrangement, the Company had on 6 March, 2014, issued and allotted 20,169,423,120 - 6% Cumulative Redeemable Non-Convertible Preference Shares of Rs. 1 each (Bonus Preference Shares), by way of Bonus to its Equity Shareholders in the ratio of 2/-Bonus Preference Shares for every 1 Equity Share held as at the Record Date i.e. 4 March, 2014. The said Bonus Preference Shares were listed and admitted for trading in BSE Limited and National Stock Exchange of India Limited on and from 19 March 2014. These Preference Shares have been assigned Stable Outlook rating of BWR AA' (pronounced BWR Double A) by Brickwork Ratings India Private Ltd, which denotes that the instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. As at 31 March 2014, the Company had 19 subsidiaries in India and Overseas. During the year under review the Company expanded its international operations by (i) forming a wholly owned subsidiary of Asia Today Limited, Mauritius (ATL) in Dubai in the name of ATL Media FZ LLC; (ii) establishing a representative Office of ATL in Jakarta, Indonesia; and (iii) initiating the process for creating a joint venture in Thailand to facilitate launch of a general entertainment television channel in Thai language. In addition, through its international subsidiaries, your Company has entered into joint ventures with Voddler Group AG, Sweden - to develop Video-on-demand service technology; and MirriAd, United Kingdom to develop and facilitate in-programme product placement technology in various television programmes. During the year 2014, the channel launched various new successful shows in different genres. Jodha Akbar, a period drama launched during the year received tremendous success and is the No.2 show in Hindi GEC space. India's Best Dramebaaz was a completely new format launched for the first time on Indian TV by Zee TV. During the year 2014, popular movies like Chennai Express, Race2, ABCD, Ramaiya Vastavaiya, Besharam, Zanjeer, Phata Poster Nikala Hero were premiered on Zee Cinema. Premier of Hindi feature film Chennai Express on Zee TV was the highest rated premiere in the history of Indian TV with reach of 52 million in HSM CS 4+. During the year 2014, the channels showcased popular international shows and live mega events like Miss World 2013, Critics Choice Movie Awards 2013 etc. Zing, the music and lifestyle offering of the Company, showcases popular Bollywood oriented properties. The content on Zing revolves around the world of music, lifestyle, movies and celebrities. During the year 2014, the Company undertook various initiatives to strengthen its dominance in international markets by entering into deals with new platform operators as well as launching new channels in some of the geographies. In line with this expansion strategy, the Company launched Zee Film Hindi, Zee Lamhe and Zee Bioskop in various geographies. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 15 July 2015 approved in-principle, the acquisition of 100% equity stake in Sarthak Entertainment Private Limited, an entity which owns and operates Sarthak TV, a leading Odiya language general entertainment channel. The said acquisition shall be from current shareholders of Sarthak Entertainment Private Limited, subject to requisite regulatory approvals, as an all-cash deal at a consideration of maximum of Rs 115 crore, including Rs 15 crore payable in FY 2017 and 2018, linked to certain performance milestones of the channel. With this acquisition, Zee has entered the rapidly expanding regional market in Odisha. Sarthak TV, the number 1 player in the entertainment space in Odisha would complement Zee's strong regional bouquet of channels viz. Zee Marathi, Zee Talkies, Zee Bangla, Zee Bangla Cinema, Zee Telugu, Zee Kannada and Zee Tamizh. Launched in 2010, Sarthak TV leads the Odia GEC pecking order. The channel has been successful in creating high quality content catering to the needs of local audience. It airs highly successful reality and non-fiction shows besides being the market leader in the fiction segment. During FY15, Zee Studio, in its continued effort to entertain its audience launched its new ideology, 'See it All' and showcased premiere movies like Mission Impossible, Ghost Protocol, Avengers, Megamind etc. These English channels continued to strengthen the network subscription bouquet. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 14 October 2015 approved write-off of an investment of GBP 3.25 million (equivalent to Rs 33.06 crore) made by Asia Today Limited, a wholly owned overseas subsidiary of the company, in 2013 for acquiring minority stake in MirriAD Ltd., UK. This write-off was on account of continuing losses and consequent capital reduction/restructuring in MirriAD Ltd., UK. During the year 2015-16, effective September 1, 2015 the Registered and Corporate Office of the Company was shifted to a landmark building called Marathon Futurex' situated in Lower Parel, Mumbai which has lavish interiors, sprawling workspaces, the Sky Gardens, restaurants, etc. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 15 January 2016 approved in-principle, a proposal for induction of a strategic investor in India Webportal Pvt Ltd (IWPL), a 51% subsidiary of the company, whereby IWPL shall issue Convertible Preference Shares to the said investor, which may result in potential dilution of company's shareholding in IWPL to below 51%. The Board also approved redemption of 2.22 crore 6% Non-Cumulative Redeemable Preference Shares of Re. 1 each (Unlisted Preference Shares) issued by Zee in pursuance of a Scheme of Arrangement in September 2014. The Company launched 3 channels and decided to take 2 channels off-air. Zee Yuva, launched in August 2016, is a youth focused Marathi channel that caters to contemporary audiences and will help the Company consolidate its leadership position in the language. Zee Anmol Cinema, launched in September 2016, builds on the leadership of hindi movie cluster by adding an FTA property. The channel will allow consumers to sample premium content and graduate to a paid model over a period. Zee Cinemalu, was launched in September 2016 for the movie loving Telugu audience. The channel leverages a library of over 500 titles across genres to cater to the preferences of a diverse set of audiences. Considering the viewer preference for content on Zindagi and ZeeQ, the Company decided to shut down linear feed of these channels. The content of these two channels is available on Company's online platform. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 14 March 2016 approved in-principle an acquisition of 100% equity stake in Fly By Wire International Private Limited, Bangalore (FBW). The acquisition shall be an all-cash deal. In addition to the consideration of Rs 2.75 crore payable for the entire stake in FBW, Zee will also take over outstanding bank loan of Rs 58.50 crore of FBW. Initially, Zee will acquire 49% stake in FBW and the balance 51% stake within 5 days of receipt of approval from the Ministry of Civil Aviation. FBW provides aircraft charter services under a NSOP license obtained from the Director General of Civil Aviation (DCGA) and owns/operates one Bombardier Challenger 605 aircraft. Zee has been chartering this aircraft from FBW on an exclusive basis and the decision to acquire FBW was taken by the management with a view to save on increasing aircraft charting costs. On 23 November 2016, the Board of Directors of Zee Entertainment Enterprises approved the acquisition of the General Entertainment Broadcasting Business Undertaking of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group Entities, through a scheme of demerger and execution of definitive agreements in relation to such proposed acquisition. The TV broadcasting business of Reliance Group Entities comprises two operational general entertainment channels BIG Magic and BIG Ganga and 4 other TV licenses. BIG Magic is a comedy channel catering to Hindi speaking markets. BIG Ganga is a leading Bhojpuri entertainment channel catering to audiences in Bihar, Jharkhand and Purvanchal. The channels are available on all major MSOs and DTH operators. The General Entertainment TV Broadcasting business undertaking along with its assets, liabilities, licenses, trademarks etc. shall get demerged from BIG Magic Ltd, Reliance Big Broadcasting Private Ltd and Azalia Broadcast Private Ltd into Zee Entertainment Enterprises through a court approved scheme. The consideration payable by Zee for the proposed acquisition shall be by way of taking over of debt of the demerged undertakings aggregating approximately to Rs 295 crore and issue of unlisted preference shares aggregating to Rs 3.95 crore to the shareholders of transferor companies. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 15 March 2017 approved the acquisition of 80% stake in technology start-up Margo Networks Pvt Ltd for a consideration of Rs 75 crore taking into consideration the strong synergies of the technology developed by Margo with the current business of Zee. Margo has developed a technology to set up server and compute infrastructure, which will enable content consumption, and has the potential to significantly drive up the digital content consumption scenario. Since Margo is in the first year of its operations, the details relating to its size, turnover etc. are not available. During the year, as part of Sale of Sport Business the Company sold its entire equity stake in Taj Television (India) Pvt. Ltd to Sony Group and consequently Taj Television (India) Pvt. Ltd ceased to be subsidiary of the Company with effect from February 28, 2017. Further as part of the integration of advertisement sales function, a wholly owned subsidiary in the name of Zee Unimedia Limited was acquired during the year. Additionally the Company acquired 49% equity stake in Fly-By-Wire International Private Limited, a company engaged in providing Aircraft Charter Services and owns an aircraft. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 8 June 2017 approved the acquisition of the entire remaining 49% stake in India Webportal Pvt Ltd (IWPL) from the existing shareholders for USD 30.7 million (equivalent to Rs 200 crore) and 12.5% stake on fully diluted basis in Tagos Design Innovations Pvt Ltd., Bangalore for USD 2.5 million (equivalent to Rs 16.15 crore). IWPL is engaged in the business of media content management including digitization, content aggregation, conversion, creation, distribution through webportals, communication facilities and providing digital infrastructure, application, facilities etc. IWPL distributes media contents on digital platform through various websites including India.com, Bollywoodlife.com, Cricketcountry.com, Thehealthsite.com, BGR.in and Oncars.in. IWPL reported loss before tax of Rs 13.79 crore on total income of Rs 64.72 crore for FY 2017. Tagos Design Innovations Pvt Ltd., Bangalore is a technology start-up, which has developed an in-video discovery platform. The in-video discovery platform developed by Tagos in synergy with Zee's OTT business has potential to scale up revenue of Zee's OTT business. In line with the intent to expand digital platforms for the media content, Zee has been investing in technology, which has the potential to supplement and scale-up digital business of the company. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 24 July 2017 approved a proposal for restructuring of businesses of certain domestic wholly own subsidiaries of the company. The scheme involves consolidation of digital media business done through various subsidiaries of the company into the parent company for deriving business synergies. The amalgamation of Sarthak Entertainment with Zee Entertainment Enterprises will bring the business of broadcasting of Odiya language general entertainment channel Sarthak TV directly under Zee's fold. On 18 September 2017, Zee Entertainment Enterprises and Sony Pictures India Private Ltd mutually concluded closure of the transaction for Zee's sports broadcasting business to Sony Pictures India Private Ltd and its affiliates (SPN) after payment of consideration of USD 36.32 million to Zee from SPNI. Zee said in a statement that certain conditions precedent for the closures of the second phase of the transaction were taking time and hence both the companies mutually concluded the closure of the transaction. Earlier, on 28 February 2017, Zee had announced the closure of the first phase of the transaction following payment of part consideration of USD 330 million to Zee from SPNI out of total consideration of USD 385 million. On 31 August 2016, the Board of Directors of Zee Entertainment Enterprises (ZEE) approved the sale and transfer of the sports broadcasting business of the company, including TEN brands of television channels, to SPN at an aggregate all-cash consideration of USD 385 million. On 16 March 2018, Zee Entertainment Enterprises announced that the company has terminated the transaction for the proposed acquisition of 100% equity stake in 2 Media entities viz. 9X Media Private Limited and INX Music Private Limited (9X entities) due to non-completion of certain material conditions precedent. Earlier, on 6 October 2017, Zee had announced that it had entered into a definite agreement to acquire 9X Media Private Limited and its subsidiaries from Rivendell PE LLC (earlier known as New Silk Route) and other shareholders for an all cash consideration of Rs 160 crore. 9X Media, along with its subsidiaries, operates a bouquet of six music channels viz. 9XM (Latest Bollywood), 9X Jalwa (Evergreen Hindi), 9X Jhakaas (Marathi), 9X Tashan (Punjabi), 9XO (English) and 9X Bajao (Hindi Classics). 9X Media's bouquets of channels have established strong viewership on the back of the unique brand identify created over the years.During the year 2018, the Company acquired the General Entertainment Broadcasting business of Reliance ADAG group housed under Reliance Big Broadcasting Pvt Ltd, Big Magic Limited and Azalia Broadcast Private Limited, in pursuance of a Composite Scheme of Arrangement approved by the Mumbai Bench of Hon'ble National Company Law Tribunal vide order passed on July 13, 2017. The said Scheme interalia provided for Demerger of 6 Television Channels of Reliance ADAG group companies' viz. Big Magic (Hindi GEC in Comedy genre), Big Ganga (Regional Channel in Bhojpuri language), Big Magic Punjab (Regional channel in Hindi), Big Magic HD, Big Gaurav and Big Thrill vesting with the Company with effect from Appointed Date of March 31, 2017. This acquisition enabled the Company to expand its portfolio of Channels into newer genres; and consolidated certain businesses carried on by some of the Domestic Subsidiaries in pursuance of a Composite Scheme of Arrangement and Amalgamation for (a) Demerger of Demerged Undertakings of Zee Digital Convergence Limited, India Webportal Pvt. Ltd and Zee Unimedia Limited vesting with the Company; and (b) Amalgamation of Sarthak Entertainment Pvt Ltd with the Company, with effect from Appointed Date of April 1, 2017. The said Composite Scheme of Arrangement and Amalgamation was approved by the Mumbai bench of Hon'ble National Company Law Tribunal vide order passed on April 11, 2018 and became effective on and from May 3, 2018. During the year 2018, the Company had issued and allotted 39,49,105 - Unlisted 6% Cumulative Redeemable Non-Convertible Preference Shares of Rs.10/- each (Series B Preference Shares), on July 24, 2017, as consideration in pursuance of the Composite Scheme of Arrangement for acquisition of General Entertainment Broadcasting Business of Reliance ADAG group entities; - Redeemed 20% of Nominal value of Listed 6% Cumulative Redeemable Non-Convertible Preference Shares of Rs.10/- each (Bonus Preference Shares) on the 4th anniversary of its issuance as per the terms of the issue, resulting in outflow of Rs.4033.88 Million towards redemption at the rate of Rs.2/- per Preference Share.

Zee Entertainment Enterprises Ltd Chairman Speech

Dear Shareholders,

ZEE, in its illustrious history of 27 years, has not only created a multi-faceted entertainment content company but has also played a pivotal role in shaping India's media and entertainment industry. Today, ZEE stands on the threshold of a new beginning, to create a stronger version of itself and define the future of the media &entertainment landscape in the country. The last financial year has been a year of transformation. A year of leaving behind our old selves, creating a newer version and taking a leap to create a legacy that will elevate the Company to greater heights. The new beginning, which I term as ZEE 4.0, will be the harbinger of enhanced consumer focus, further innovation in content creation, and leveraging technology to deliver a heightened entertainment experience to all our consumers across multiple consumption platforms.

The mantra at ZEE has always been to lead by example, and we have demonstrated that effectively through our success across markets and businesses. Every challenge we faced on this path was met with an equal determination to overcome and forge ahead. Though we cannot go back and alter our decisions, no one can stop us from creating a brand new future.

ZEE 4.0

I have shared my vision for ZEE 4.0 in my ‘Open Letter', harboring a sharper, leaner and greener version of the Company. The five pillars of the new ZEE 4.0 or the 5G approach as I have termed it, will encompass a robust focus on Governance, Granularity, Growth, Goodwill and Gusto. As a first step in this direction, the Board of the Company has been reconstituted with new members who bring in the required blend of experience and expertise. I am confident that a Board with majority independent directors will be instrumental in setting the standards for corporate governance going forward. We have also adopted a more granular and transparent approach for business reporting which will help all stakeholders make well-informed decisions. We will be rolling out detailed disclosures of business KPIs, segmental reporting, a refreshed Corporate Social Responsibility (CSR) policy, and measurable ESG goals, to achieve the same.

Over the years we have grown, vertically and horizontally, becoming one of the most loved content brands in India and around the world.

Going forward, we will continue to maintain a sharp focus on growth as we invest our time and energy in maximizing our core, expanding into adjacent spaces and exploring new areas of business. We have initiated a strategy exercise within the Company to carve a 5-year roadmap, to transform the organization and its strategic approach with consumer centricity and profitable growth as the two cornerstones.

All our plans and strategies would not fructify unless we nurture our most important asset – our people. I truly believe that one does not build a business; but builds people who then build the business. ZEE is extremely fortunate to have a strong professional leadership team at the helm to drive this new strategy forward with renewed energy and gusto.

The unprecedented times brought upon by the COVID-19 pandemic are leaving us with a lot of food for thought. Businesses across the globe have suffered unprecedented losses and some are going through extremely difficult situations. We have been more fortunate, and I believe the primary reason for that has been our unrelenting focus on customer centricity. The speed and agility with which our teams adapted to the situation have been instrumental in maintaining business continuity and ensuring undisrupted entertainment to our viewers. We believe that in this rapidly evolving media & entertainment landscape, only the ones who adapt to change will survive in the future. These will be the companies which succeed in adapting themselves best to the environment while ensuring a strong hold on the pulse of their consumers and a keen eye on growth and profitability.

The year gone by

FY20 was a year of highs and lows for our business. While we reported a decline in our advertising revenue for only the second time in more than a decade, on the operating front we achieved new feats. Our broadcast business now has the widest language footprint in the country, making it a truly pan-India network for consumers. New Tariff Order upset the equilibrium in the distribution space with the slew of changes it introduced. However, the network not only withstood the challenges of the transition, it emerged much stronger post implementation, expanding its reach and revenue in most markets. ZEE5 took giant leaps towards becoming India's leading digital entertainment platform. Over a short period, ZEE5 has become the biggest producer of digital exclusive content in the country. It is also gradually strengthening its presence outside India, which will help us remain relevant in markets which are transitioning to digital. Zee Music Company continues to grow, and I am happy to report that it turned profitable last year, validating our decision to venture into music publishing business 5 years ago. Zee Studios fell short of our expectations for the in-house production business, but the distribution segment delivered a string of successful films.

Despite a decline in advertisement revenues, the topline of the Company grew by 2.5%. This domestic subscription led growth is a reflection of the increasing balance of our revenue portfolio.

The macro-economic slowdown experienced last year, coupled with the fall in consumer demand led to a decline in advertising. In India, brands still look at advertising as a cost to be incurred in good times and not as a lever for building resilient consumer connect. As we move into an extremely cluttered world, we will see a gradual change towards a more holistic approach which has advertising as an integral part of the brand.

Meanwhile, our aim is to insulate the growth of the Company from the macro-economic cycles, as far as possible, by offering holistic solutions to our partners. Despite the slowdown, we continued to invest in growth opportunities which will enable us to grow ahead of the industry once the economy recovers. Continued investments coupled with the fall in advertisement revenue led to a decline in EBITDA margin to 27.5%. Next fiscal is also going to be challenging, as advertising revenue will decline further in the first half due to the impact of COVID-19. However, I believe that this phase is just a blip in India's long-term growth story, and the economy will bounce back with vigor once the impact of the pandemic subsides.

Our fight against COVID-19

The pandemic left many vulnerable to its harsh impact, and in such times, we focused on the need to come together and support each other.

Acknowledging the work done by frontline workers, we stepped up our efforts in all directions to support the nation in strengthening its medical infrastructure, providing essential equipment like ambulances, personal protective equipment kits, oxygen humidifiers and daily meals to families affected by the pandemic. As a responsible player in the media & entertainment sector, we also ensured that the lives and livelihoods of the daily wage earners in our content production ecosystem were least impacted, by supporting them financially during the lockdown. The Company also used the massive reach of its network to increase awareness about the pandemic.

Vote of thanks

I would like to thank all the shareholders for their continuous trust in the Company. It is your undying faith that enables us to strive towards achieving greater heights, growing at a faster clip than the industry, and generate higher value year on year. I would also like to thank all our partners who help us in creating content, ensuring its delivery to the consumers and most importantly monetizing it. And lastly, I would like to convey my gratitude to all our people, who relentlessly work towards turning our vision into reality. It is the confidence in their collective ability that enables me to say with conviction that we are on our way to successfully build a new version of ZEE.

Until then, celebrate endings, for they precede new beginnings. For us at ZEE, a new and exciting journey has just begun.

Sincerely,

Punit Goenka

   

Zee Entertainment Enterprises Ltd Company History

Zee Entertainment Enterprises Limited is one of India's leading media and entertainment companies. It is amongst the largest producers and aggregators of entertainment content in the world, with an extensive library housing over 250,000 hours of television content. With rights to more than 4,200 movie titles from foremost studios and of iconic film stars, Zee houses the world's largest Hindi film library. Through its strong presence worldwide, Zee entertains over 1.3 billion viewers across more than 170 countries. Zee and its affiliate companies have leading presence across the media value chain including television broadcasting, cable distribution, direct-to-home satellite services, digital media and print media amongst others. As on March 31, 2018, the Company had 29 Subsidiaries, 2 associates and 1 joint venture Company. Pioneer of television entertainment industry in India, Zee Entertainment Enterprises' well-known brands include Zee TV, Zee Anmol, Big Magic, Zee Cinema, & pictures, Zee Action, Zee Classic, Zee Anmol Cinema, Zee Cafe, Zee Studio, Zing, ETC Bollywood. The company also has a strong offering in the regional language domain with channels such as Zee Marathi, Zee Talkies, Zee Yuva, Zee Bangla, Zee Bangla Cinema, Zee Telugu, Zee Cinemalu, Zee Kannada, Zee Tamil, Zee Sarthak and Big Ganga. The company's HD offerings include Zee TV HD, &tv HD, Zee Cinema HD, &pictures HD, Zee Marathi HD, Zee Talkies HD, Zee Bangla HD, Zee Tamil HD, Zee Telugu HD, Zee Cinemalu HD, Zee Studio HD, Zee Cafe HD and &prive HD. Zee Entertainment Enterprises has three sources of revenue viz. advertising, subscription and other sales and services. Other sales and services include revenues from movie production business, content syndication, music label and commission on sales amongst others. Zee Entertainment Enterprises Ltd was incorporated in November 25th, 1982. The company was previously known as Zee Telefilms Ltd. In the year 1992, the company launched their flagship television channel Zee TV. Since then, they have transformed themselves into an integrated media conglomerate with operations spanning the entire media spectrum including television programming; satellite broadcasting; production and distribution of films; music publishing, long distance education and the creation of animation software. The Company is mainly involved in the businesses of broadcasting of satellite television channels, space selling agent for other satellite television channels and sale of media content i.e. programs/film rights/feeds/music rights. In the year 1994, Zee Records, the music-publishing arm of Zee, commenced their operations. Also, they launched Zee Education as a division of the company. The company's 100% owned subsidiary, Siticable Networks Ltd (Siticable) commenced their operations as an MSO in Delhi for cable distribution system in India. In the year 1995, Newscorp acquired a 50% stake in Siticable Networks Ltd in an equal joint venture with the company. The company launched Zee TV in the UK / Europe. Also, they launched Zee News and Zee Cinema. In the year 1996, the company started their first cable channel in India under the name of Siti Channel. In the year 1997, they launched Zee Music (originally known as Music Asia). In the year 1998, the company launched Zee TV in the USA. Also, they launched Zee Cine Awards. During the year 1998-99, the company obtained 'A' category license for providing Internet services in India. During the year 1999-2000, the company acquired 50% stake in Asia Today Ltd, Siticable and Programme Asia Trading Company Ltd. They launched four regional channels under the umbrella brand of Alpha, namely Alpha Marathi, Alpha Bangla, Alpha Punjabi and Alpha Gujarato. Also, they launched two new 24-hour channels, namely Zee English and Zee Movies to enter the English language market. They launched two new channels namely Zee Bangla and Musia Asia in UK and launched Zee Gold in USA. During the year, the education division of the company was demerged and transferred to a separate subsidiary company namely, Zee Interactive Learning Systems Ltd. In September 1999, the company acquired Zee Multimedia Worldwide Ltd and thus all the international operations including the broadcasting business of ZMWL came under the company's control. During the year 2000-01, the company launched the Direct-to-Operator (DTO) encrypted channel bouquet comprising of Zee Cinema, four Alpha channels and two English channels. Also, they divested their stake in Buddha Films Ltd (BFL), Zee Sports Ltd (ZSL) and Zee Publishing Ltd (ZPL). During the year 2001-02, the company produced their first big budget movie 'Gadar -Ek Prem Katha'. They formed a joint venture company 'Zee Turner Pvt Ltd' to market and distribute the pay channel bouquet consisting of 14 channels of Zee and 3 channels of Turner in the Indian sub-continent, thereby creating a formidable combination of highly popular channels. They consolidated their operations by linking their various control rooms through HFC. Master Control Rooms (MCR) was established at Hyderabad and Bangalore linking the control rooms through optic fibre, thereby ensuring improvement in the quality of signal delivery to customers. During the year, Zee Interactive Multimedia Ltd, a company set up to provide broadband and conditional access services, merged with Siticable Network Ltd. The company acquired a controlling stake in ETC Networks Ltd, a company engaged in production, marketing and distribution of two television channels with a leading presence in Music and Punjabi language segment. With these acquisitions ETC Networks Ltd became a subsidiary of the company. Also, the company acquired a controlling stake in Padmalaya Telefilms Ltd., a company engaged in production and distribution of feature films (in Telugu and Hindi languages) and television serials. During the year 2002-03, the company hived off two of the foreign subsidiaries namely Hokushan Trading Company Ltd and Asia TV USA, Inc. Also, three wholly owned subsidiaries were merged with the company. During the year 2003-04, the company entered into an MoU with Zee News Ltd, a company 100% owned by Indian nationals, for transfer of physical infrastructure, the editorial and other staff etc, related to production and Broadcast of News and Current Affairs programme on Zee television channels including Zee News. Dakshin Media Ltd, a wholly owned subsidiary company was amalgamated with the company. Further, the company consolidated operations of their foreign subsidiary company located at Mauritius by merging of Aisa TV (Africa) Ltd, Software Supplies (International) Ltd, Zee Telefilms International Ltd and Zee MGM Ltd with Asia Today Ltd, Mauritius. Also, another overseas subsidiary, Asia T.V. (Netherlands) Ltd, BVI had been liquidated. During the year 2004-05, the company launched a new channel, namely Zee Sports to the meet the insatiable quest of Indian viewers to enjoy telecast of sports event in India and abroad. The company divested their stake in Padamalaya Enterprises Pvt Ltd, which was the holding company of Padamalaya Telefilms Ltd. Expand Fast Holdings Ltd, one of the overseas subsidiaries, merged with Asia Today Ltd, Mauritius (ATL). Also, ATL, the wholly owned subsidiary of Winterheath Company Ltd (WCL) merged with the holding company, WCL. After the merger, WCL changed its name to Asia Today Ltd. Also, ATL acquired 100% stake in Pan Asia Infrastructure Ltd, a Mauritius based company, engaged in the business of broadcast of television channel in Middle East in South Asian language and development of media city in Dubai. During the year 2005-06, Siti Cable Network Ltd, a wholly owned subsidiary of the company acquired entire shares in Indian Cable Net Company Ltd. During the year 2006-07, the company completed the process of de-merger of their News, Cable and Direct Consumer Services business undertakings. Respective resultant entities namely, Zee News Ltd (ZNL) for news business, Wire & Wireless (India) Ltd (WWIL) for cable business and Dish TV India Ltd (formerly known as ASC Enterprises Ltd) (Dish TV). Consequent to demerger of Cable and DCS Business Undertakings of the company, the subsidiaries of the company pertaining to the said business undertakings, namely, Siti Cable Network Ltd, Central Bombay Cable Networks Pvt Ltd, Integrated Subscribers Management Services Ltd, New Era Entertainment Network Ltd, Siti Cable Broadband South Ltd and Indian Cable Net Company Ltd ceased to be subsidiaries of the company. The company exited from their investment in 25 FPS Media Pvt. Ltd (25 FPS) and consequently 25 FPS ceased to be a subsidiary with effect from July 24, 2006. In November 2006, Zee Sports International Ltd, Mauritius, acquired 50% stake with majority representation in the board in Taj TV Ltd, Mauritius, which owns 'Ten Sports' channel. Also, the company acquired 50% stake with majority representation in the Board in Taj Television India Pvt Ltd, Mumbai, which is the distribution arm of Ten Sports in India. The name of the company was changed from Zee Telefilms Ltd to Zee Entertainment Enterprises Ltd with effect from January 10, 2007. During the year 2007-08, pursuant to a scheme of amalgamation, ETC Networks Ltd, a listed subsidiary of the company, merged with Zee Interactive Learning Systems Ltd. The merged entity was subsequently renamed as ETC Networks Ltd. Asia Today Ltd., Mauritius, a wholly owned overseas subsidiary of the company acquired entire equity stake in APAC Media Ventures Ltd, a company registered in Hong Kong, effective October 30, 2007, for the purpose of its broadcasting foray in the Asia Pacific Region. During the year 2008-09, Asia Today Ltd., Mauritius, a wholly owned overseas subsidiary of the company, acquired the balance 40% equity stake in Asia Business Broadcasting (Mauritius) Ltd, a company registered in Mauritius and divested their entire 100% holding in Pan Asia Infrastructure Ltd, Mauritius. Additionally with a view to comply with the regulatory requirements for Russian Broadcasting Operations, Asia TV Ltd, UK, an overseas subsidiary created/acquired an indirect subsidiary called 'OOO Zee CIS Holdings Ltd' in Russia. During the year, the company ventured into the film production and distribution business, with launch of two labels, namely Zee Motion Pictures and Zee Limelight for mainstream and niche films, respectively. For that the purpose, they acquired/created direct/indirect subsidiaries namely, ZES Holdings Ltd, Mauritius, Zee Entertainment Studios Ltd, British Virgin Islands, ZES Mauritius Ltd, Mauritius, ZES International Ltd, United Kingdom and Zee Motion Pictures Pvt Ltd., India. During the year 2009-10, as per the scheme of arrangement, the company demerged the Regional General Entertainment Channel Business Undertaking (comprising of Zee Marathi, Zee Bangle, Zee Talkies, Zee Telugu, Zee Cinemaalu and Zee Kannada television channels) of Zee News Ltd (ZNL) vesting with the company on the appointed date, January 1, 2010. The scheme became effective from March 29, 2010. Also, ETC Networks Ltd (ETC), a listed subsidiary of the company merged with the company with effect from appointed date, March 31, 2010. Upon such merger, the Education Business Undertaking of the company was demerged from the company and transferred to Zee Learn Ltd on the appointed date, April 1, 2010. Also, the 9X Channel Business Undertaking of INX Media Pvt Ltd (now known as 9X Media Private Ltd) was demerged and transferred to the company. During the year, ETC Networks Ltd (ETC), the listed subsidiary of the company acquired the entire shareholding in Cornershop Entertainment Company Pvt. Ltd which in turn held 100% stake in Cornershop Animation Pvt Ltd, Digital Media Convergence Ltd and Re-Med Services Pvt Ltd. Subsequently, these subsidiaries amalgamated with ETC from the appointed date January 1, 2010 in pursuance of a scheme of amalgamation which became effective on April 29, 2010. Asia TV Ltd, United Kingdom, one of the overseas subsidiary along with its subsidiary OOO Zee CIS Holding Ltd, Russia jointly acquired 100% stake in OOO Zee CIS Ltd, a broadcasting operating company in Russia. During the year 2010-11, the company dissolved ZES International Ltd, UK, a wholly owned subsidiary of ZES Entertainment Studios Ltd, BVI and Zee Sports Americas Ltd, Mauritius with effect from June 29, 2010 and June 9, 2011. Asia Business Broadcasting (Mauritius) Ltd, Mauritius was amalgamated with its holding company Asia Today Ltd, Mauritius. Also, Zee Entertainment Studios Ltd, BVI and ZES Mauritius Ltd, Mauritius amalgamated with their holding company ZES Holdings Ltd, Mauritius with effect from March 31, 2011 and March 18, 2011 respectively. Also, ZES Mauritius Ltd, Mauritius divested their entire stake in the Indian subsidiary, Zee Motion Pictures Pvt Ltd. During the year, the joint ventures of the company in digital distribution viz. ITM Digital Pvt Ltd, and in India branded Entertainment Portal viz. India Webportal Pvt Ltd commenced their operations. The company has in-principle approved the acquisition of the balance shareholding of 5% in Taj TV Ltd., Mauritius (Taj) by Zee Sports International Ltd, Mauritius (ZSIL), thus making Taj a wholly owned subsidiary of ZSIL and the amalgamation of ZSIL with their holding company Asia Today Ltd, Mauritius. In 2012, the Company introduces new Bangla movie channel. In 2013, the Board approved a Scheme of Arrangement between the Company and Diligent Media Corporation (DMCL) for demerger of media business undertaking from DMCL and vesting into the company. In 2014, the company has sought RBI approval for FII Investment upto 100% in the Company. In 2015, the company launched its entertainment channel Zee Hiburan in Indonesia. The company also entered into food and lifestyle segment category by introducing its new entertainment channel Living Food. Pursuant to the said Scheme of Arrangement, the Company had on 6 March, 2014, issued and allotted 20,169,423,120 - 6% Cumulative Redeemable Non-Convertible Preference Shares of Rs. 1 each (Bonus Preference Shares), by way of Bonus to its Equity Shareholders in the ratio of 2/-Bonus Preference Shares for every 1 Equity Share held as at the Record Date i.e. 4 March, 2014. The said Bonus Preference Shares were listed and admitted for trading in BSE Limited and National Stock Exchange of India Limited on and from 19 March 2014. These Preference Shares have been assigned Stable Outlook rating of BWR AA' (pronounced BWR Double A) by Brickwork Ratings India Private Ltd, which denotes that the instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. As at 31 March 2014, the Company had 19 subsidiaries in India and Overseas. During the year under review the Company expanded its international operations by (i) forming a wholly owned subsidiary of Asia Today Limited, Mauritius (ATL) in Dubai in the name of ATL Media FZ LLC; (ii) establishing a representative Office of ATL in Jakarta, Indonesia; and (iii) initiating the process for creating a joint venture in Thailand to facilitate launch of a general entertainment television channel in Thai language. In addition, through its international subsidiaries, your Company has entered into joint ventures with Voddler Group AG, Sweden - to develop Video-on-demand service technology; and MirriAd, United Kingdom to develop and facilitate in-programme product placement technology in various television programmes. During the year 2014, the channel launched various new successful shows in different genres. Jodha Akbar, a period drama launched during the year received tremendous success and is the No.2 show in Hindi GEC space. India's Best Dramebaaz was a completely new format launched for the first time on Indian TV by Zee TV. During the year 2014, popular movies like Chennai Express, Race2, ABCD, Ramaiya Vastavaiya, Besharam, Zanjeer, Phata Poster Nikala Hero were premiered on Zee Cinema. Premier of Hindi feature film Chennai Express on Zee TV was the highest rated premiere in the history of Indian TV with reach of 52 million in HSM CS 4+. During the year 2014, the channels showcased popular international shows and live mega events like Miss World 2013, Critics Choice Movie Awards 2013 etc. Zing, the music and lifestyle offering of the Company, showcases popular Bollywood oriented properties. The content on Zing revolves around the world of music, lifestyle, movies and celebrities. During the year 2014, the Company undertook various initiatives to strengthen its dominance in international markets by entering into deals with new platform operators as well as launching new channels in some of the geographies. In line with this expansion strategy, the Company launched Zee Film Hindi, Zee Lamhe and Zee Bioskop in various geographies. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 15 July 2015 approved in-principle, the acquisition of 100% equity stake in Sarthak Entertainment Private Limited, an entity which owns and operates Sarthak TV, a leading Odiya language general entertainment channel. The said acquisition shall be from current shareholders of Sarthak Entertainment Private Limited, subject to requisite regulatory approvals, as an all-cash deal at a consideration of maximum of Rs 115 crore, including Rs 15 crore payable in FY 2017 and 2018, linked to certain performance milestones of the channel. With this acquisition, Zee has entered the rapidly expanding regional market in Odisha. Sarthak TV, the number 1 player in the entertainment space in Odisha would complement Zee's strong regional bouquet of channels viz. Zee Marathi, Zee Talkies, Zee Bangla, Zee Bangla Cinema, Zee Telugu, Zee Kannada and Zee Tamizh. Launched in 2010, Sarthak TV leads the Odia GEC pecking order. The channel has been successful in creating high quality content catering to the needs of local audience. It airs highly successful reality and non-fiction shows besides being the market leader in the fiction segment. During FY15, Zee Studio, in its continued effort to entertain its audience launched its new ideology, 'See it All' and showcased premiere movies like Mission Impossible, Ghost Protocol, Avengers, Megamind etc. These English channels continued to strengthen the network subscription bouquet. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 14 October 2015 approved write-off of an investment of GBP 3.25 million (equivalent to Rs 33.06 crore) made by Asia Today Limited, a wholly owned overseas subsidiary of the company, in 2013 for acquiring minority stake in MirriAD Ltd., UK. This write-off was on account of continuing losses and consequent capital reduction/restructuring in MirriAD Ltd., UK. During the year 2015-16, effective September 1, 2015 the Registered and Corporate Office of the Company was shifted to a landmark building called Marathon Futurex' situated in Lower Parel, Mumbai which has lavish interiors, sprawling workspaces, the Sky Gardens, restaurants, etc. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 15 January 2016 approved in-principle, a proposal for induction of a strategic investor in India Webportal Pvt Ltd (IWPL), a 51% subsidiary of the company, whereby IWPL shall issue Convertible Preference Shares to the said investor, which may result in potential dilution of company's shareholding in IWPL to below 51%. The Board also approved redemption of 2.22 crore 6% Non-Cumulative Redeemable Preference Shares of Re. 1 each (Unlisted Preference Shares) issued by Zee in pursuance of a Scheme of Arrangement in September 2014. The Company launched 3 channels and decided to take 2 channels off-air. Zee Yuva, launched in August 2016, is a youth focused Marathi channel that caters to contemporary audiences and will help the Company consolidate its leadership position in the language. Zee Anmol Cinema, launched in September 2016, builds on the leadership of hindi movie cluster by adding an FTA property. The channel will allow consumers to sample premium content and graduate to a paid model over a period. Zee Cinemalu, was launched in September 2016 for the movie loving Telugu audience. The channel leverages a library of over 500 titles across genres to cater to the preferences of a diverse set of audiences. Considering the viewer preference for content on Zindagi and ZeeQ, the Company decided to shut down linear feed of these channels. The content of these two channels is available on Company's online platform. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 14 March 2016 approved in-principle an acquisition of 100% equity stake in Fly By Wire International Private Limited, Bangalore (FBW). The acquisition shall be an all-cash deal. In addition to the consideration of Rs 2.75 crore payable for the entire stake in FBW, Zee will also take over outstanding bank loan of Rs 58.50 crore of FBW. Initially, Zee will acquire 49% stake in FBW and the balance 51% stake within 5 days of receipt of approval from the Ministry of Civil Aviation. FBW provides aircraft charter services under a NSOP license obtained from the Director General of Civil Aviation (DCGA) and owns/operates one Bombardier Challenger 605 aircraft. Zee has been chartering this aircraft from FBW on an exclusive basis and the decision to acquire FBW was taken by the management with a view to save on increasing aircraft charting costs. On 23 November 2016, the Board of Directors of Zee Entertainment Enterprises approved the acquisition of the General Entertainment Broadcasting Business Undertaking of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group Entities, through a scheme of demerger and execution of definitive agreements in relation to such proposed acquisition. The TV broadcasting business of Reliance Group Entities comprises two operational general entertainment channels BIG Magic and BIG Ganga and 4 other TV licenses. BIG Magic is a comedy channel catering to Hindi speaking markets. BIG Ganga is a leading Bhojpuri entertainment channel catering to audiences in Bihar, Jharkhand and Purvanchal. The channels are available on all major MSOs and DTH operators. The General Entertainment TV Broadcasting business undertaking along with its assets, liabilities, licenses, trademarks etc. shall get demerged from BIG Magic Ltd, Reliance Big Broadcasting Private Ltd and Azalia Broadcast Private Ltd into Zee Entertainment Enterprises through a court approved scheme. The consideration payable by Zee for the proposed acquisition shall be by way of taking over of debt of the demerged undertakings aggregating approximately to Rs 295 crore and issue of unlisted preference shares aggregating to Rs 3.95 crore to the shareholders of transferor companies. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 15 March 2017 approved the acquisition of 80% stake in technology start-up Margo Networks Pvt Ltd for a consideration of Rs 75 crore taking into consideration the strong synergies of the technology developed by Margo with the current business of Zee. Margo has developed a technology to set up server and compute infrastructure, which will enable content consumption, and has the potential to significantly drive up the digital content consumption scenario. Since Margo is in the first year of its operations, the details relating to its size, turnover etc. are not available. During the year, as part of Sale of Sport Business the Company sold its entire equity stake in Taj Television (India) Pvt. Ltd to Sony Group and consequently Taj Television (India) Pvt. Ltd ceased to be subsidiary of the Company with effect from February 28, 2017. Further as part of the integration of advertisement sales function, a wholly owned subsidiary in the name of Zee Unimedia Limited was acquired during the year. Additionally the Company acquired 49% equity stake in Fly-By-Wire International Private Limited, a company engaged in providing Aircraft Charter Services and owns an aircraft. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 8 June 2017 approved the acquisition of the entire remaining 49% stake in India Webportal Pvt Ltd (IWPL) from the existing shareholders for USD 30.7 million (equivalent to Rs 200 crore) and 12.5% stake on fully diluted basis in Tagos Design Innovations Pvt Ltd., Bangalore for USD 2.5 million (equivalent to Rs 16.15 crore). IWPL is engaged in the business of media content management including digitization, content aggregation, conversion, creation, distribution through webportals, communication facilities and providing digital infrastructure, application, facilities etc. IWPL distributes media contents on digital platform through various websites including India.com, Bollywoodlife.com, Cricketcountry.com, Thehealthsite.com, BGR.in and Oncars.in. IWPL reported loss before tax of Rs 13.79 crore on total income of Rs 64.72 crore for FY 2017. Tagos Design Innovations Pvt Ltd., Bangalore is a technology start-up, which has developed an in-video discovery platform. The in-video discovery platform developed by Tagos in synergy with Zee's OTT business has potential to scale up revenue of Zee's OTT business. In line with the intent to expand digital platforms for the media content, Zee has been investing in technology, which has the potential to supplement and scale-up digital business of the company. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 24 July 2017 approved a proposal for restructuring of businesses of certain domestic wholly own subsidiaries of the company. The scheme involves consolidation of digital media business done through various subsidiaries of the company into the parent company for deriving business synergies. The amalgamation of Sarthak Entertainment with Zee Entertainment Enterprises will bring the business of broadcasting of Odiya language general entertainment channel Sarthak TV directly under Zee's fold. On 18 September 2017, Zee Entertainment Enterprises and Sony Pictures India Private Ltd mutually concluded closure of the transaction for Zee's sports broadcasting business to Sony Pictures India Private Ltd and its affiliates (SPN) after payment of consideration of USD 36.32 million to Zee from SPNI. Zee said in a statement that certain conditions precedent for the closures of the second phase of the transaction were taking time and hence both the companies mutually concluded the closure of the transaction. Earlier, on 28 February 2017, Zee had announced the closure of the first phase of the transaction following payment of part consideration of USD 330 million to Zee from SPNI out of total consideration of USD 385 million. On 31 August 2016, the Board of Directors of Zee Entertainment Enterprises (ZEE) approved the sale and transfer of the sports broadcasting business of the company, including TEN brands of television channels, to SPN at an aggregate all-cash consideration of USD 385 million. On 16 March 2018, Zee Entertainment Enterprises announced that the company has terminated the transaction for the proposed acquisition of 100% equity stake in 2 Media entities viz. 9X Media Private Limited and INX Music Private Limited (9X entities) due to non-completion of certain material conditions precedent. Earlier, on 6 October 2017, Zee had announced that it had entered into a definite agreement to acquire 9X Media Private Limited and its subsidiaries from Rivendell PE LLC (earlier known as New Silk Route) and other shareholders for an all cash consideration of Rs 160 crore. 9X Media, along with its subsidiaries, operates a bouquet of six music channels viz. 9XM (Latest Bollywood), 9X Jalwa (Evergreen Hindi), 9X Jhakaas (Marathi), 9X Tashan (Punjabi), 9XO (English) and 9X Bajao (Hindi Classics). 9X Media's bouquets of channels have established strong viewership on the back of the unique brand identify created over the years.During the year 2018, the Company acquired the General Entertainment Broadcasting business of Reliance ADAG group housed under Reliance Big Broadcasting Pvt Ltd, Big Magic Limited and Azalia Broadcast Private Limited, in pursuance of a Composite Scheme of Arrangement approved by the Mumbai Bench of Hon'ble National Company Law Tribunal vide order passed on July 13, 2017. The said Scheme interalia provided for Demerger of 6 Television Channels of Reliance ADAG group companies' viz. Big Magic (Hindi GEC in Comedy genre), Big Ganga (Regional Channel in Bhojpuri language), Big Magic Punjab (Regional channel in Hindi), Big Magic HD, Big Gaurav and Big Thrill vesting with the Company with effect from Appointed Date of March 31, 2017. This acquisition enabled the Company to expand its portfolio of Channels into newer genres; and consolidated certain businesses carried on by some of the Domestic Subsidiaries in pursuance of a Composite Scheme of Arrangement and Amalgamation for (a) Demerger of Demerged Undertakings of Zee Digital Convergence Limited, India Webportal Pvt. Ltd and Zee Unimedia Limited vesting with the Company; and (b) Amalgamation of Sarthak Entertainment Pvt Ltd with the Company, with effect from Appointed Date of April 1, 2017. The said Composite Scheme of Arrangement and Amalgamation was approved by the Mumbai bench of Hon'ble National Company Law Tribunal vide order passed on April 11, 2018 and became effective on and from May 3, 2018. During the year 2018, the Company had issued and allotted 39,49,105 - Unlisted 6% Cumulative Redeemable Non-Convertible Preference Shares of Rs.10/- each (Series B Preference Shares), on July 24, 2017, as consideration in pursuance of the Composite Scheme of Arrangement for acquisition of General Entertainment Broadcasting Business of Reliance ADAG group entities; - Redeemed 20% of Nominal value of Listed 6% Cumulative Redeemable Non-Convertible Preference Shares of Rs.10/- each (Bonus Preference Shares) on the 4th anniversary of its issuance as per the terms of the issue, resulting in outflow of Rs.4033.88 Million towards redemption at the rate of Rs.2/- per Preference Share.

Zee Entertainment Enterprises Ltd Directors Reports

TO THE MEMBERS

Your Directors are pleased to present the Thirty-Eighth Annual Report of your Company's business and operations along with the Audited Financial Statements (‘Annual Accounts') for the financial year ended March 31, 2020.

1. FINANCIAL RESULTS

The Financial Performance of your Company for the financial year ended March 31, 2020 is summarized below: (Rs. MILLIONS)

Particulars Standalone Year Ended Consolidated Year Ended
31.03.2020 31.03.2019 31.03.2020 31.03.2019
Revenue from Operations 72,190 68,579 81,299 79,339
Other Income 2,278 1,894 2,836 2,515
Total Income 74,468 70,473 84,135 81,854
Total Expenses 59,596 44,299 71,705 57,315
Share of Associates / Joint Ventures - - (24) 24
Exceptional Items (2,843) (218) (2,843) (218)
Profit Before Tax 12,029 25,956 9,563 24,345
Provision for Taxation (net) 4,549 9,406 4,317 8,673
Profit after Tax 7,480 16,550 5,246 15,672

There have been no material changes and commitments that have occurred after close of the financial year till the date of this report, which affect the financial position of Zee Entertainment Enterprises Limited ("the Company" or "ZEE"). Based on the internal financial control framework and compliance systems established in the Company, the work performed by Statutory, Internal, Secretarial Auditors and reviews performed by the management and/or the Audit Committee of the Board, your Board of Directors (‘Board') is of the opinion that the Company's internal financial controls are adequate and working effectively during the Financial Year 2019-20.

CONSOLIDATED FINANCIAL STATEMENT

In accordance with the provisions of the Companies Act, 2013 ("Act") and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), the consolidated audited financial statement forms part of the Annual Report.

2. COVID-19

The outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. In many countries, businesses are being forced to cease or limit their operations for long or indefinite periods of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing and closures of non-essential services have triggered significant worldwide, resulting in an economic slowdown.

As a pioneer in the realm of entertainment in India, your Company embraced & optimally utilized technology solutions amidst lockdown, in order to create and offer fresh content for its consumers. The Company demonstrated its ability & potential to stay ahead of the industry, with a sharp focus on keeping its viewers entertained and well informed across key consumer touchpoints.

The Company leveraged technology and implemented various solutions across its key functions, swiftly and collaboratively, creating the bedrock for creative innovation in content offering. The Company adapted to change by enabling innovations through remote production of content over mobile & professional cameras by using video & audio production technologies to support broadcast, digital & social platforms.

At ZEE, the health and safety of all employees has always been the top priority. In line with the guidelines issued by the Government, the Company implemented key measures across every touchpoint to safeguard its Human Capital. ZEE has always been agile in adapting to change, which made the transition to

‘Work from Home' operations swift and smooth, ensuring minimal disruption to the viewers and maintaining business continuity with innovations like edit from home solutions. All meetings across business verticals and functions were conducted seamlessly, with optimal utilization of digital solutions like Microsoft Teams. We ensured that the employees had access to all critical business applications with undisrupted support while working from home, with zero compromise on data and content security.

Strong proactive steps were taken in transforming the workspace, keeping disruptions to businesses social distancing norms at the fore. All the necessary safety and hygiene protocols were followed for the critical verticals functioning from office, including alternate seating arrangements, implementing a clean desk policy and temperature screening at all entry points. Frequent sanitization of all surfaces was maintained, and hand sanitizers were placed at all strategic locations within the office premises. We also set up a 24hour emergency helpline with doctors and counsellors to address all medical queries and the emotional well-being of our employees. Keeping our Human Capital at the fore, key steps were taken to provide logistical support to employees across locations by partnering with a nationwide ambulance service. ZEE continues to take critical steps in ensuring the safety of its people and everyone working in the close ecosystem.

3. DIVIDEND

Equity Shares: Your Directors recommend payment of Dividend of Rs. 0.30 per equity share of Rs. 1/- each and such Equity Dividend, upon declaration by the Members of the Company at the ensuing Annual General Meeting (‘AGM'), shall be payable on the outstanding Equity Share Capital of the Company as at the Record Date of September 11, 2020. The expected outflow on account of equity dividend, based on current Paid-up Equity Share Capital of the Company would aggregate to Rs. 288 Million.

Pursuant to Finance Act, 2020 dividend income will be taxable in the hands of the shareholders w.e.f. April 1, 2020 and the Company is required to deduct tax at source (TDS) from dividend paid to the Members at prescribed rates as per the Income-tax Act, 1961.

In accordance with the provision of Regulation 43A of the Listing Regulations and any amendments thereto, your Company has formulated a Dividend Distribution Policy. The policy is available on the Company's website at www. zeeentertainment.com.

Preference Shares: In accordance with the terms of Listed 6% Cumulative Redeemable Non-Convertible Preference Shares issued as Bonus Shares in 2014 (Bonus Preference Shares), the Company had remitted an aggregate Preference Dividend of Rs. 708.91 Million, comprising of:

Pro-rata Preference Dividend of Rs. 0.11148 on the redemption value of Rs. 2 per Bonus Preference Share for the period from April 1, 2019 till the Redemption date of March 5, 2020; and

Preference Dividend of Rs. 0.24 per share for FY 2019-20 on the Bonus Preference Shares of Rs. 4 per share post redemption.

Transfer to Reserves

The closing balance of the retained earnings of the Company for Financial Year 2019-20, after all appropriation and adjustments was Rs. 75,290 Million.

4. BUSINESS OVERVIEW

During the year under review, your Company delivered another strong operating performance despite the challenges posed by the uncertain macro environment. The advertising revenue was impacted by the slowing economic growth which led to a weak consumer demand. It was further impacted due to conversion of two Free-to-Air (FTA) channels to pay in March'19. Subscription revenue on the other hand saw a significant jump due to the implementation of NTO (New Tariff Order) and increase in ZEE5 subscription a structural change to the distribution landscape and would be beneficial for the industry in long-term. ZEE5 released over 80 shows and original movies on the platform last year and firmly established itself as the biggest publisher of digital original content in India. During the year, your Company released 14 movies and received a fair share of success. Zee Music Company continued to expand its music library through acquisition of music titles across languages.

As per the FICCI-EY report, the Indian Media and Entertainment (M&E) industry registered a growth of 9% in Current Year 19, reaching Rs. 1,822 billion. As per the report, M&E industry is expected to grow at a CAGR of 10% to reach Rs. 2,416 billion by 2022. As this report was published before COVID-19 outbreak in India, the growth estimates for Current Year 20 will see a downward revision.

In the Domestic Broadcast Business, your Company exited the year on a strong note, reclaiming the leadership position in the entertainment segment it had lost during the year due to the merger of two of its peers. Your Company also launched 4 regional channels which will help in strengthening its position in the regional markets.

In the Hindi General Entertainment segment, Zee TV lost its leadership during the year. However, the channel maintained its leadership in weekday prime time. &TV redefined its strategy and is now focused on the viewers from the states of the Hindi heartland.

In the Hindi movie segment, your Company's portfolio of movie channels further strengthened its #1 position driven by a strong movie catalogue.

In the Regional markets, channel in Kannada market further strengthened its

#1 position during the year. Despite the loss of share in the second half, your Company continued to maintain leadership in the Marathi and Bengali markets.

In the other regional markets, the channels continued to focus on improving their viewership shares.

In the International Broadcast Business, your Company continued to expand the reach of its channels across geographies with new distribution partnerships.

Company's content in 18 languages, including 7 foreign languages, is available in more than 170 countries.

ZEE5, your Company's OTT platform, witnessed significant growth across all user parameters. The platform had 63.1mn and 6.0mn global MAUs and DAUs, respectively in March'20, with an average watch-time of 136 minutes per viewer during the month. During the year, the platform entered into multiple partnerships with key players across the digital eco-system to make its content available to a wider audience. The Company also completed the commercial launch of ZEE5 in key international markets of Europe, UK and Canada.

Zee Studios, the movie production and distribution business, was the #3 movie studio in the country in terms of box-office collections. During FY20, the studio released 14 movies across 5 languages Hindi, Marathi, Tamil, Punjabi and Haryanvi.

Zee Music Company, your Company's music publishing arm continued to expand its music catalogue across languages and maintained its position as the #2 most subscribed music channel on YouTube.

Zee Live, the live entertainment business, launched ‘Supermoon' which is the first entertainment IP spanning comedy, music and other entertainment genres. Zee live also organised other events like ‘Arth' and ‘Zee Educare' during the year.

5. CHANGES IN CAPITAL STRUCTURE

During the year under review, your Company had:

Redeemed 20% of Nominal value of Bonus Preference Shares on the 6th anniversary of its issuance as per the terms of the issue, resulting in outflow Rs. 4033.88 Million towards the said redemption at the rate of of Rs. 2 per Preference Share, consequent to which the face value of Preference Share was changed to Rs. 4/- each. As required under Section 55 of the Act, an amount equivalent to such Redemption value was credited to Capital Redemption Reserve Account of the Company. Further, pursuant to the revenue.NTObrought provisions of the Income-tax Act, 1961 the said redemption amount was treated as Dividend pay-out and accordingly was subjected to payment of Dividend Distribution Tax by the Company;

Issued and allotted 16,735 Equity Shares of Rs. 1 each upon exercise of stock options granted under Company's ESOP Scheme.

Consequent to the above redemption/issuance of securities, the Paid-up Share Capital of the Company as at March 31, 2020 stood at Rs. 9,028,252,483/- comprising of 960,483,235 Equity shares of Rs. 1/- each and 201,69,42,312 Bonus Preference Shares of Rs. 4/- each. Subsequent to closure of the financial year, your Company had issued and allotted 21,240 Equity Shares upon exercise of stock options granted under the ESOP Scheme.

During the year under review, the Company's Promoters had divested their stake as under:

- In September 2019, Promoters had completed the 1st tranche of Company's stake sale to Invesco Oppenheimer Developing Markets Fund comprising sale of 11% stake in the Company.

- In November 2019, Promoters had completed the 2nd tranche of Company's stake sale to OFI Global China Fund, LLC and / or its sale of 16.5% stake in the Company and in the interim sold 5.93% stake in the market.

Promoters' shareholding in the Company was 4.77% as at March 31, 2020.

6. CREDIT RATING

During the year under review, Brickwork Ratings India Private Limited has revised the rating assigned to the Company as the issuer of the Bonus Preference Shares, listed at the Stock Exchanges, to ‘BWR AA+' denoting Credit Watch with Negative Implications. Further upon dilution in the stake of the promoters and promoter group during the year, the rating was revised to ‘BWR AA'.

7. SUBSIDIARIES, ASSOCIATES & JOINT VENTURES

As at March 31, 2020, your Company had 28 (twenty eight) subsidiaries comprising of 8 (eight) domestic subsidiaries and 20 (twenty) overseas direct and step-down subsidiaries, one Associate and one Joint Venture Company.

During the year under review:

- Your Company had bought the balance 26% stake in Zee Network Distribution Limited (ZNDL) (erstwhile Zee-Turner Limited) from Turner International Private Limited, making ZNDL a wholly owned subsidiary on August 9, 2019;

- On March 31, 2020, Evee Multimedia Inc., the overseas subsidiary of Essel Vision Productions Limited (EVPL), a wholly owned subsidiary of the Company was dissolved and wound up.

Apart from the above, there was no change in number of Subsidiary/Associate/ Joint Venture of the Company either by way of acquisition or divestment or otherwise during the year under review.

Subsequent to the close of the financial year Zee TV USA Inc, the overseas subsidiary of Zee Multimedia Worldwide (Mauritius) Limited (ZMWL), a wholly owned subsidiary of the Company was dissolved and wound up effective May 1, 2020.

In line with amendments of threshold for determining Material Subsidiary as stated in Regulation 16(1)(c) of Listing Regulations, ATL Media Limited, a wholly owned overseas subsidiary remains a Material Subsidiary of the Company.

The policy for determining material subsidiaries of the Company is available on the website of the Company www.zeeentertainment.com.

In compliance with Section 129 of the Act, a statement containing requisite details including financial highlights of the operation of all subsidiaries/associate/joint venture in Form AOC-1 is annexed to this report as Annexure A.

In accordance with Section 136 of the Act, the Audited Financial Statements including the Consolidated Financial Statements and related information of the Company and Audited Accounts of each of subsidiary(ies) are available on the website of the Company www.zeeentertainment.com.

8. EMPLOYEE STOCK OPTION SCHEME

An aggregate of 28,220 Stock Options issued by the Company in pursuance of ZEE ESOP Scheme 2009 to Mr. Punit Misra, CEO - Domestic Broadcast Business were outstanding as at March 31, 2019. During FY 2020, 24,700 Stock Options were granted to Mr. Punit Misra and the said Options shall vest with him in 3 tranches and shall be convertible into equivalent number of Equity Shares in accordance with the terms of Scheme upon payment of Exercise Price of Rs. 1/- per share by the Option Grantee. Upon exercise of vested Stock options by Mr. Punit Misra, 16,735 Equity Shares were issued and allotted to him during FY 19-20 and 36,185 unvested Stock Options were outstanding as at March 31, 2020.

Requisite disclosures as required under Regulation 14 of Securities Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 is annexed to this report as Annexure B. The Statutory Auditors of the Company M/s Deloitte Haskins & Sells LLP, Chartered Accountants have certified that the Company's Employee Stock Option Scheme has been implemented in accordance with Securities Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the resolution passed by the shareholders.

The said disclosure on Company's ESOP Scheme will also be available on the Company's website www.zeeentertainment.com as part of the Annual Report.

Subsequent to closure of the financial year, 21,240 Equity Shares were issued and allotted to Mr. Punit Misra upon exercise of options vested in April 2020.

9. CORPORATE SOCIAL RESPONSIBLITY

During the year under review, out of total CSR budget of Rs. 880.90 Million (including unutilized CSR amount of Rs. 394.8 Million carried forward from last year), the Company had contributed an aggregate of Rs. 0.72 Million towards various CSR Projects detailed in the Annual Report on CSR annexed to this report. As at March 31, 2020, an amount of Rs. 880.18 Million remained unutilized from out of CSR budget due to non-availability of suitable CSR Projects.

The unutilized CSR funds have been carried forward for funding suitable CSR projects in future.

Subsequent to the close of the Financial year i.e. from April 1, 2020 to June 30, 2020, the Company has contributed an amount of Rs. 13.99 Crore through various programmes to combat the global Pandemic caused by COVID-19.

Annual report on Corporate Social Responsibility activities initiated by the Company during the year under review, in compliance with the requirements of Act, is annexed to this report as Annexure C.

10. CORPORATE GOVERNANCE AND POLICIES

In order to maximize shareholders value on a sustained basis, your Company has been constantly reassessing and bench marking itself with well-established Corporate Governance practices besides strictly complying with the requirements of Listing Regulations, applicable provisions of the Act and applicable Secretarial Standards issued by the Institute of Company Secretaries of India (‘ICSI').

In terms of Schedule V of Listing Regulations, a detailed report on Corporate Governance along with Compliance Certificate issued Auditors of the Company is attached and forms an integral part of this Report. Management Discussion and Analysis Report and Business Responsibility Report as per Listing Regulations are presented in separate sections forming part of this Annual Report. The said Business Responsibility Report will also be available on the Company's website www.zeeentertainment.com as part of the Annual Report.

In compliance with the requirements of Act and the Listing Regulations, your Board had approved various Policies including Code of Conduct for Directors and Senior Management, Material Subsidiary Policy, Document Preservation Policy, Material Events Determination and Disclosure Policy, Fair Disclosure Policy, Corporate Social Responsibility Policy, Whistle Blower and Vigil Mechanism Policy, Policy on Dealing with Materiality of Related Party Transaction Policy, Remuneration Policy, Insider Trading Code and Dividend Distribution Policy. These policies & codes along with the Directors Familiarization Program and Terms and Conditions for appointment of Independent Directors have been uploaded on Company's website www.zeeentertainment.com.

In compliance with the requirements of Section 178 of the Act, the Nomination & Remuneration Committee of your Board had fixed various criteria for nominating a person on the Board which inter alia includes the requirement of desired size and composition of the Board, age limits, qualification / experience, areas of expertise and independence of individual. The Committee had also approved in-principle that the initial term of an Independent Director shall not exceed 3 years.

11. DIRECTORS & KEY MANAGERIAL PERSONNEL

The Company has a balanced Board with combination of Executive and Non-Executive Directors. The Board currently comprises of 8 (eight) Directors including 1 (one) Executive Director, 2 (two) Non-Executive Directors and 5 (five) Independent Directors including one Independent Woman Director.

During the year under review:

1. Mr. Subodh Kumar resigned as Non-Executive Director on November 22, 2019.

2. Ms. Neharika Vohra resigned as an Independent Director with effect from November 22, 2019 citing certain instances including need for strengthening internal controls relating to Film Acquisition etc. during FY 2018-19 as provided in her resignation letter dated November 22, 2019. 3. Mr. Sunil Sharma resigned as Independent Director w.e.f. November 24, 2019 due to sale of shares by the Promoter Group, citing desire of the new institutional investors to recast the Board in consequence of the above sale of shares.

4. Mr. R Gopalan, Mr. Surender Singh and Ms. Aparajita Jain were appointed as Additional Directors in the category of Independent Director with effect from November 25, 2019. However, Mr. Surender Singh resigned due to some unavoidable personal reasons and Ms. Aparajita Jain resigned due to her professional engagements and frequent travel with effect March 20, 2020. 5. Mr. Piyush Pandey was appointed as an Additional Director in the category of Independent Director with effect from March 24, 2020.

The Independent Directors who have resigned during the year have confirmed that there were no other material reasons other than those provided in their resignation letter(s).

Subsequent to March 31, 2020, Ms. Alicia Yi was appointed as an Additional Director in the category of Independent Director with effect from April 24, 2020.

Appropriate intimation to Ministry of Information and Broadcasting (MIB) have been made with respect to changes in Directors during the year.

Your Board places on record its appreciation for contributions of Mr. Subodh Kumar, Ms. Neharika Vohra, Mr. Sunil Sharma, Mr. Surender Singh and Ms. Aparajita Jain as Directors.

As per Section 161 of the Act, Mr. R Gopalan, Mr. Piyush Pandey and Ms. Alicia Yi shall hold office as Directors of the Company till ensuing AGM. Your Company has received notice from Member(s) proposing their appointment and requisite proposals seeking your approval for the appointment of these Directors forms part of the Notice of ensuing AGM. Your Board recommends these proposals for approval of the Shareholders.

In terms of Section 149 of the Act, Mr. Manish Chokhani, Mr. Adesh Kumar Gupta, Mr. R Gopalan, Mr. Piyush Pandey and Mrs. Alicia Yi are the Independent Directors of the Company.

In terms of Regulation 25(8) of the Listing Regulations, they have confirmed that they are not aware of any circumstances or situation which exists or may be reasonably anticipated that could impair or impact their ability to discharge their duties. Based on the declarations received from the Independent Directors, the Board has confirmed that they meet the criteria of independence as mentioned under Regulation 16(1)(b) of the Listing Regulations and that they are independent of the management.

A declaration on compliance with Rule 6(3) of the Companies (Appointment and Qualification of Directors) Rules, 2014, along with a declaration as provided in the Notification dated October 22, 2019, issued by the Ministry of Corporate Affairs (MCA), regarding the requirement relating to enrollment in the Data Bank for Independent Directors, has been received from all the Independent Directors, along with declaration made under Section 149(6) of the Act.

During FY 2019-20 your Board met 9 (nine) times, details of the date of the meetings and attendance of Directors at such meetings are available in Corporate Governance Report annexed to this report.

Mr. Ashok Kurien, Non-Executive Director is liable to retire by rotation at the ensuing AGM and, being eligible, has offered himself for re-appointment. Your Board recommends his re-appointment.

During the year under review, Mr. M Lakshminarayanan resigned as Chief Compliance Officer & November 25, 2019 and the resultant vacancy was filled of Mr. Ashish Agarwal as Chief Compliance Officer & Company Secretary with effect from November 26, 2019. Accordingly, the Key Managerial Personnel of the Company as at March 31, 2020 comprised of Mr. Punit Goenka, Managing Director & Chief Executive and Mr. Ashish Agarwal, Chief Compliance Officer & Company Secretary.

12. PERFORMANCE EVALUATION

Pursuant to the provisions of the Act and Listing Regulations, the evaluation of annual performance of the Directors / Board / Board Committees was carried out for the financial year 2019-20. The details of the evaluation process are set out in the Corporate Governance Report annexed to this Report. Performance evaluation of Independent Directors was also undertaken by the from entire Board, excluding the Independent Director being evaluated.

13. BOARD COMMITTEES

In compliance with the requirements of Act and Listing Regulations, your Board had constituted various Board Committees including Audit Committee, Risk Management Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee and Corporate Social Responsibility Committee. Details of the constitution of these Committees, which are in accordance with regulatory requirements, have been uploaded on the website of the Company www.zeeentertainment.com. Details of scope, constitution, terms of reference, number of meetings held during the year under review along with attendance of Committee Members therein form part of the Corporate Governance Report annexed to this report.

14. AUDITORS

Statutory Audit

At the 35th Annual General Meeting held on July 12, 2017, the Shareholders had approved appointment of M/s Deloitte Haskins & Sells LLP, Chartered Accountants having Firm Registration No. 117366W/W-100018 as Statutory Auditors of the Company until conclusion of 40th Annual General Meeting to be held in the year 2022 subject to ratification by the Shareholders every year. Pursuant to the amendment to Section 139 of the Act, with effect from May 7, 2018, the requirement of seeking Shareholders ratification for continuance of Statutory Auditor at every Annual General Meeting is no longer applicable and accordingly the Notice of ensuing AGM does not include the proposal for seeking Shareholders ratification for continuance of Statutory Auditors. The Company has received certificate of eligibility from M/s Deloitte Haskins & Sells LLP in accordance with the provisions of the Act, read with rules made thereunder and a confirmation that they continue to hold valid Peer Review Certificate under Listing Regulations.

The Auditors' qualification has been appropriately dealt with in Note no. 35 of the Notes to the standalone audited financial statements and in Note no. 36 of the Notes to the consolidated audited financial statements. The Auditors' Report is enclosed with the financial statements in the Annual Report.

Secretarial Audit

During the year under review, the Secretarial Audit of your Company was carried out by M/s Vinod Kothari & Co., Company Secretaries (Firm Registration No. P1996WB042300) in compliance with Section 204 of the Act and their unqualified Secretarial Audit report is annexed to this report as Annexure F.

Additionally, in line with SEBI Circular dated February 8, 2019, an Annual Secretarial Compliance Report confirming compliance of all applicable SEBI Regulations, Circulars and Guidelines by the Company was issued by the Secretarial Auditors and filed with the as Annexure G. The remarks provided in the report are self-explanatory.

Cost Audit

In compliance with the requirements of Section 148 of the Act, read with Companies (Cost Records and Audit) Rules, 2014, M/s Vaibhav P Joshi & Associates, Cost Accountants, (Firm Registration No. 101329) was appointed as Cost Auditor to carry out Audit of Cost Records of the Company for Financial Year 2019-20. Requisite proposal seeking ratification of remuneration payable to the Cost Auditor for FY 2019-20 by the Members as per Rule 14 of Companies (Audit and Auditors) Rules, 2014, forms part of the Notice of ensuing AGM.

The Company has maintained cost accounts and records in accordance with the provisions of Section 148(1) of the Act, read with the Companies (Cost Records and Audit) Rules, 2014.

15. HUMAN RESOURCES & PARTICULARS OF EMPLOYEES

Your Company being in the business of creativity, your Board believes that people are the ultimate differentiators and efforts are taken to attract, develop and retain employees. In order to ensure sustainable business growth and become values driven, capability strong, future ready growth organization, your Company over the years has been focusing on strengthening its talent management, performance management & employee engagement processes and practices.

Employees of your Company are trained to drive values and they believe, live and demonstrate the 7 core values of the company - namely Accountability for Results, Customer First, Humility, Integrity & Respect, Innovate and Solve Big Problems, Economy & Frugality, Velocity & Agility and Endeavor for Big Hairy Audacious Goals (BHAG). During the year, your Company has moved on to build a high-trust, high-performance culture and as a result has been ranked amongst the top 100 ‘India's Best Companies to Work For' 2019 & 2020 and also featured amongst the Best Company to work for in the Media Industry for both the years, in a study conducted by Great Place to WorkR Institute and The Economic Times. Your company continues to build the talent pipeline by engaging and hiring fresh talent from renowned campuses, building capabilities in key business functions through training and development initiatives, breaking the barriers of communication, building a culture of appreciation, recognizing top talent and offering a seamless employee experience by migrating to SAP's SuccessFactors Human Capital Management (HCM). As on March 31, 2020, your Company had 3429 employees.

Requisite disclosures in terms of the provisions of Section 197 of the Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 along with statement showing names and other particulars of employees drawing remuneration in excess of the limits prescribed under the said rules is annexed to this report as Annexure D.

16. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Your Company is into the business of Broadcasting of General Entertainment Television Channels and extensively uses world class technology in its Broadcast Operations. However, since this business does not involve any manufacturing activity, most of the Information required to be provided under Section 134(3) (m) of the Act read with the Companies (Accounts) Rules, 2014, are Nil / Not applicable. The information, as applicable, are given hereunder:

Conservation of Energy: Your Company, being a service provider, requires minimal energy consumption and every endeavor is made to ensure optimal use of energy, avoid wastages and conserve energy as far as possible.

Technology Absorption: Your company has created a complete cloud based platform, thus helping to seamlessly move from an office to a work from home scenario. This move has ensured that consumers are not affected in any manner whatsoever due to the COVID-19 lockdown and have an enjoyable viewing experience. Taking a further leap by use of advanced technologies, your Company has moved from an on premise to cloud based creative editing services, during the current year. Your company has strived to engage across all demographics of customer base. Your Company has rolled out new player that has resulted in improvement of the Zee5 player performance across devices that range from mobile to connected TV, thereby enhancing customer experience. Your Company has introduced live news channels on the platform.

This has ensured that a varied customer base, including all possible consumer demographics are covered at the same time. Your Company has ensured that monetization of assets is included in server side ad insertion on live news streams. This is in addition to pre roll and mod rolls ad insertion for Video On demand assets. Keeping the varied customer base as the sole point of focus, your Company has made operational, all payment gateways. This has ensured that the customer experience is eased considerably and there is an increase in subscription footfalls to Zee5. Your Company has strived to enhance customer experience and serve them recommended content. This can be gauged from the fact that customers can now watch content based on their watch history and preferred choices. To further cater to customer needs and make content viewing a more enjoyable experience, your Company is working to make text along with Video On demand news available in the platform. Raising the existing bar, a level higher, your Company is gearing up to introduce a platform for short form customer generated content in the year ahead.

Foreign Exchange Earnings & Outgo: During the Financial Year 2019-20 the Company had Foreign Exchange earnings of Rs. 3,551 Million and outgo of Rs. 2,471 Million.

17. DISCLOSURES i. Particulars of loans, guarantees and investments:

Particulars of loans, guarantees and investments made by the Company as required under Section 186 (4) of the Act and the Listing Regulations are contained in Note No. 38 to the Standalone Financial Statements.

ii. Transactions with Related Parties:

All contracts/arrangements/transactions entered by the Company during the financial year with related parties were on an arm's length basis, in the ordinary course of business and in compliance with the applicable provisions of the Act and Listing Regulations. During FY 2019-20, there are no materially significant Party Transactions entered into by the Company with Promoters, Directors, Key Managerial Personnel or other Designated Persons which may have a potential conflict with the interest of the Company at large. Details of Related Party Transactions are available on your Company's website.

All related party transactions, specifying the nature, value, terms and conditions of the transactions including the arms-length justification, were placed before the Audit Committee for its approval and statement of all related party transactions carried out was placed before the Audit Committee for its review on a quarterly basis. During the year under review, there have been no materially significant related party transactions entered by the Company as defined under Section 188 of the Act and Regulations 23 of the Listing Regulations and accordingly no transactions are required to be reported in Form AOC-2 as per Section 188 of the Act.

iii. Risk Management:

Your Company has well-defined operational processes to ensure that risks are identified, and the operating management is responsible for identifying and implementing mitigation plans for operational and process risks. Key strategic and business risks are identified and managed by senior management team with active participation of the Risk Management Committee. The risks that matter (RTM) and their mitigation plans are updated and reviewed periodically by the Risk Management Committee of your Board and integrated in the Business plan for each year. The details of constitution, scope and meetings of the Risk Management Committee forms part of the Corporate Governance Report. In the opinion of the Board currently there are no risks that may threaten existence of the Company.

iv. Vigil Mechanism:

The Company has a Whistle Blower Policy and has established the necessary vigil mechanism for directors and employees in confirmation with Section 177(9) of the Act and Regulation 22 of Listing Regulations, to report concerns about unethical behavior. The details of the policy have been disclosed in the Corporate Governance Report, which is a part of this report and is also available at website of the company www.zeeentertainment.com.

v. Internal Financial Controls and their adequacy:

Your Company has adequate internal financial controls and processes for orderly and efficient conduct of the business including safeguarding of assets, prevention and detection of frauds and errors, ensuring accuracy and completeness of the accounting records and the timely preparation of reliable financial information. The Audit Committee evaluates the internal financial control system periodically and at the end of each financial year and provides guidance for strengthening of such controls wherever necessary. As part of Enterprise Risk Assessment and Internal Control evaluation, with a view to enhance related effectiveness of control, your Company has confirmed that its systems and processes for film acquisition are operating effectively.

Further, based on the legal advise obtained, the Audit Committee of the Board has directed stringent controls for mitigating any potential risk/ implications, while issuing letter of comforts or any similar documents by the Company or its subsidiary in the course of business.

vi. Compliance with Secretarial Standards:

Your Company has complied with the applicable Secretarial Standards, SS-1 relating to Meetings of Board and SS-2 relating to General Meetings.

vii. Deposits & Unclaimed Dividend/Shares:

Your Company has not accepted any public deposit under Chapter V of the Act.

During the year under review, in terms of the provisions of Investors Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 as amended (IEPF Rules), unclaimed dividend declared by the Company for Financial Year 2011-12 aggregating to Rs. 1.53 Million was transferred to Investors Education and Protection Fund.

Additionally, in compliance with the requirements of IEPF Rules, your Company had during the year under review transferred 98,105 Unclaimed Equity Shares of Rs. 1 each to the beneficiary account of IEPF Authority.

The said Unclaimed Dividend and/or Unclaimed Equity Shares can be claimed by the Shareholders from IEPF authority after following process prescribed in IEPF Rules. During FY 2020, an aggregate of 226 Unclaimed Equity Shares of the Company were re-transferred by the IEPF Authority to the beneficiary accounts of respective claims and completion of verification process by the Company and IEPF Authority.

viii. Annual Return:

Pursuant to Section 92 of the Act and Rule 12 of the Companies (Management and Administration) Rules, 2014, the extract of Annual Return in Form MGT-9 is annexed to this report as Annexure E. The same is also available at website of the Company www.zeeentertainment.com.

ix. Sexual Harassment:

Your Company is committed to provide safe and conducive working environment to all its employees (permanent, contractual, temporary and trainees etc.) and has zero tolerance for sexual harassment at workplace. In line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules thereunder, your Company has adopted a Policy on prevention, prohibition and redressal of sexual harassment at workplace and has constituted Internal Complaints Committee across various locations to redress complaints received regarding sexual harassment.

During the year under review, 2 (two) complaints were received by the Company and was investigated in accordance with the procedure and resolved. Hence, no complaint is pending at the end of financial year.

x. Regulatory Orders:

No significant or material orders were passed by the regulators or courts or tribunals which impact the going concern status and Company's operations in future.

xi. Managing Director of the Company doesn't receive any remuneration or commission from any of its subsidiaries.

18. RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Act, in relation to the Annual Accounts for the Financial Year 2019-20, your Directors confirm that:

a) The Annual Accounts of the Company have been prepared on a going concern basis;

b) In the preparation of the Annual Accounts, the applicable accounting standards had been followed and there are no material departures;

c) The accounting policies selected were applied consistently and the judgments and estimates related to these annual accounts have been made on a prudent and reasonable basis, so as to give a true and fair view of the state of affairs profitsof the theCompanyasatMarch31,2020,and, the Company for the year ended on that date;

d) Proper and sufficient care has been taken for accounting records in accordance with the provisions of the Companies Act, 2013, to safeguard the assets of the Company and to prevent and detect any fraud and other irregularities;

e) Requisite internal financial controls to be followed by the Company were laid down and that such internal financial controls are adequate and operating effectively. However, certain internal financial controls which were required to be strengthened in respect of issuance of letter of comfort in the course of business, have been since strengthened; and

f) Proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems are adequate and are operating effectively.

19. ACKNOWLEDGEMENTS

Employees are vital and most valuable assets of your Company. Your Directors value the professionalism and commitment of all employees of the Company and place on record their appreciation of the contribution and efforts made by all the employees in ensuring excellent all-round performance. Your Board also thank and express their gratitude for the uponspecific refund support and co-operation received from all stakeholders including viewers, producers, customers, vendors, advertising agencies, investors, bankers and regulatory authorities.

   

Zee Entertainment Enterprises Ltd Company Background

Subhash ChandraPunit Goenka
Incorporation Year1982
Registered Office18th Flr A Wing Marathon Futur,N M Joshi Marg Lower Parel
Mumbai,Maharashtra-400013
Telephone91-22-7106 1234,Managing Director
Fax91-22-2300 2107
Company SecretaryAshish Agarwal
AuditorDeloitte Haskins & Sells LLP
Face Value1
Market Lot1
ListingBSE,NSE,
RegistrarLink Intime India Pvt Ltd
C-101 247 Park ,L B S Marg ,Vikhroli West ,Mumbai-400083

Zee Entertainment Enterprises Ltd Company Management

Director NameDirector DesignationYear
Subhash Chandra Chairman Emeritus 2021
Ashok Kurien Non-Exec & Non-Independent Dir 2021
Punit Goenka Managing Director & CEO 2021
Adesh Kumar Gupta Non-Exec. & Independent Dir. 2021
Ashish Agarwal Company Secretary 2021
Piyush Pandey Non-Exec. & Independent Dir. 2021
Alicia Yi Non-Exec. & Independent Dir. 2021
Manish Chokhani Non-Exec. & Independent Dir. 2021
R Gopalan Non-Exec. & Independent Dir. 2021
Sasha Mirchandani Non-Exec. & Independent Dir. 2021
Vivek Mehra Non-Exec. & Independent Dir. 2021

Zee Entertainment Enterprises Ltd Listing Information

Listing Information
BSE_500
BSE_100
BSE_200
BSEDOLLEX
BSE_TECK
CNX500
BSEMID
CNXMIDCAP
CNXMID50
CNXSERVICE
CNXCONSUMP
CNX200
CNXMEDIA
BSECARBONE
NFT100EQWT
BSEALLCAP
GOODSSERVI
BSEMIDSELE
NFTMIDLQ15
SENSNEXT50
MID150
LMI250
MSL400
NFT50EQWT
NFTYLM250
NFTYMC150
NFTYMSC400
NF500M5025

Zee Entertainment Enterprises Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Advertisement Revenue Rs.0004409.1
Subscription Income Rs.0002394.1
Media Content NA 000316.5
Transmission Fees Rs.00039.6
Agency Commission Rs.00033.5
Other Operating Income Rs.00026.2
Broadcasting Revenue Rs.0000
Film Distribution Rs.0000
Lease Rent Rs.0000
Electronic Devices No 0000
Audio Tapes No 0000
Television Content NA 0000
Programme Rights(Audio/Video) Rs.0000

Contact us Contact us