ITV

Tag: GIL

  • HVL reports lower loss for fiscal ’17, media & communications segment revenue up

    HVL reports lower loss for fiscal ’17, media & communications segment revenue up

    BENGALURU: Hinduja Ventures Limited (HVL) reported lower consolidated loss of Rs 566.08 million for the fiscal ended 31 March 2017 (FY-17, current fiscal) as compared to the consolidated loss of Rs 812.068 million for the previous financial year (FY-16). HVL’s consolidated total revenue increased 21.47 percent in FY-17 to Rs 8,260.06 million as compared to Rs 6,799.789 million in the previous year.

    The company’s media and communications segment reported 24.5 percent higher revenue at Rs 6,131.949 million in the current year as compared to Rs 4,925.454 million in the previous fiscal. Loss from the Media and Communications segment operating loss in the current year was higher at Rs 3,148.046 million as compared to Rs 1,858.129 million as compared to the prevision financial year.

    As reported by www.indiantelevision.com, HVL had informed the stock exchanges yesterday that the National Company Law Tribunal (NCLT) has sanctioned the Scheme of Arrangement for the vesting of its direct subsidiary Grant Investrade Limited’s (GIL) Head-end-in-the-sky (HITS) business undertaking to its indirect subsidiary Indusind Media & Communications Limited. Consequently, the company has filed revised financial results for fiscal 2017.

    The company said that the arrangement is expected to strengthen HVL’s investment in the media business, which will in turn unlock the value of its shareholders. Accordingly, pursuant to the aforesaid arrangement, the Headend-in-the- Sky (HITS) business undertaking of GIL vested in to IMCL with effect from 01 October 2016, being the appointed date.

    GIL had received the HITS licence in March 2014. Last year in September, the Hinduja Group had received shareholders’ approval to restructure its media business, which includes cable TV business under IndusInd Media and headend-in-the-sky (HITS) under GIL.

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  • HVL receives NCLT nod for GIL’s HITS to de-merge into Indusind Media

    HVL receives NCLT nod for GIL’s HITS to de-merge into Indusind Media

    BENGALURU: Hinduja Ventures Limited (HVL) has informed the stock exchanges that the National Company Law Tribunal (NCLT) has sanctioned the Scheme of Arrangement for the vesting of its subsidiary Grant Investrade Limited’s (GIL) Head-end-in-the-sky (HITS) business undertaking to its subsidiary company Indusind Media & Communications Limited. The company said that the arrangement is expected to strengthen HVL’s investment in the media business, which will in turn unlock the value of its shareholders.

    HVL says that the certified copy of NCLT’s approval has been filed with the Registrar of Companies (RoC) Mumbai on 21 August 2017. Accordingly, pursuant to the aforesaid arrangement, the Headend-in-the- Sky (HITS) business undertaking of GIL vested in to IMCL with effect from 01 October 2016, being the appointed date.

    GIL had received the HITS licence in March 2014. Last year in September, the Hinduja Group had received shareholders’ approval to restructure its media business, which includes cable TV business under IndusInd Media and headend-in-the-sky (HITS) under GIL.

  • NXT Digital-InCable merger gets shareholder nod; D’Silva bemoans lack of ecosystem support

    NXT Digital-InCable merger gets shareholder nod; D’Silva bemoans lack of ecosystem support

    MUMBAI: Hinduja Ventures Ltd’s (HVL’s) proposal to demerge its NXT Digital headend in the sky (HITS) business from its subsidiary Grant Investrade Ltd (GIL) and merge it into its cable TV MSO offshoot Indusind Media & Communications Ltd (IMCL) got the thumbs up from its shareholders at its AGM yesterday.

    The cable veteran and IMCL MD & CEO Tony D’Silva says that IMCL is now on the road to fully digest NXT Digital. “We are following the legal process and have already applied to the Bombay High Court and we have also informed the Ministry of Information and Broadcasting.”

    What drove the reorganisation? D’Silva explains: “When we launched NXT Digital, it was incorporated under GIL as an independent company. At that time, we thought it’s better to apply for a licence under GIL and we got the licence. We also thought that it’s better we keep GIL as the company away from IMCL so that no operator will feel that this is a backdoor entry to take over IMCL. But now the time has passed. GIL is an established company and so the NXT Digital move.”

    HVL whole time director Ashok Mansukhani adds that work is already on to integrate both NXT Digital and InCable. Says he: “We are starting with the backend. We are already synergising both the services. We have one of the best subscriber management systems (SMS) in HITS – ICC from Hansen Technologies. InCable is using Magnaquest for its SMS it is also migrating towards ICC. They will be kept separate but there will be one front end irrespective of who the operator is. “

    D’Silva says that more than 700 cable operator premise equipment (COPEs) have been installed so far. “An estimated three million cable TV subscribers are watching television through our HITS platform,” he reveals. “The philosophy of NXTDigital is very clearly to encourage the cable operator to grow and develop his/her business and also that we are a pure service provider. We don’t want to own any network and that message has gone to all the operators across the country.”

    NXT Digital is offering four different packages to MSOs and LCOs who opt for its service. The Gold Cope cost about Rs 13.5 lakh and gives a bouquet of 550 channels, the Silver costs Rs 10 lakh (450 channels) and the Bronze Rs nine lakh (350 channels). A new Eco package has been introduced for Phase IV areas with its price point being Rs 4 lakh (250 channels).

    D’Silva points out that almost 60 per cent of the installations are of the Gold Cope Unit in Phase III areas. “Even smaller markets are wanting HD channels,” he says.

    But even so the management at NXT Digital is pretty frustrated, and are especially concerned about the future of cable TV digitization. Says Mansukhani: “The final date of digitization is the bottleneck for us. Some 50 cases are pending in the high court. On Monday some cases will be hear. On 26 September there will be five cases in front of a chief justice and on 5 October 35 cases will be heard by a single bench. The chief justice has received these cases and whether they were issued in the constitutional law and interpretation of legislation – that decision will be taken on Monday.”

    The nuking of the sunset date for digitization in phase III areas by the various court cases has blown up the progress of NXT Digital. “We had earlier agreed between the IBF, MSOs, TRAI and MIB jointly that till 31 December 2015 the sunset date for Phase III broadcasters would not charge the digital rate to facilitate to process of digitisation,” says D’Silva. “That agreement is valid even today. But broadcasters are charging cable operators analogue rates in Phase III areas and they are slapping us with digital tariffs for the same regions. How is this fair? NXT Digital does not own any network…we are providing services. The same principle should apply to phase IV also where 60 million homes need to be digitized.”

    D’Silva exhorts broadcasters and the industry to give it its total support on HITS as it is a step forward in infrastructure sharing (which is a subject of a consultation paper that the Telecom Regulatory Authority of India put up recently).

    “This must be allowed. How will a big MSO in a small area function when the switchoff happens? He has to come to me. The fact is banks are sharing infrastructure in ATMs. Telcos are doing so too. Why spend money on overbuilding infrastructure,” he asks. “Excepting one broadcaster, all of them are permitting us to provide passive services to MSOs who have a DAS licence and have content agreements with them with the proviso that they pay directly to the broadcaster subject to the SMS report filed by our HITS platform. This one broadcast network is hell bent on undermining our effort to provide television to far flung subscribers in the interiors.”

    He further adds” “Then, the subscriber in Phase IV is paying Rs 60-80 for his channels. With a digitized package it could go up to Rs 160 or so. Even otherwise he may have to pay Rs 40 for just a handful of encrypted channels. The beneficiaries are only the broadcasters and they don’t have any digital model for rural India. The BARC ratings shows more and more free to air channel are popular in rural India. Who is going to pay for pay channels?”

    Asks Mansukhani: “Are we going to have a digital divide in our country? Digitisation will only be limited to metropolitan India and benefits will not flow to rural India. And going by the current goings-on there is a great danger of that happening.”

  • NXT Digital-InCable merger gets shareholder nod; D’Silva bemoans lack of ecosystem support

    NXT Digital-InCable merger gets shareholder nod; D’Silva bemoans lack of ecosystem support

    MUMBAI: Hinduja Ventures Ltd’s (HVL’s) proposal to demerge its NXT Digital headend in the sky (HITS) business from its subsidiary Grant Investrade Ltd (GIL) and merge it into its cable TV MSO offshoot Indusind Media & Communications Ltd (IMCL) got the thumbs up from its shareholders at its AGM yesterday.

    The cable veteran and IMCL MD & CEO Tony D’Silva says that IMCL is now on the road to fully digest NXT Digital. “We are following the legal process and have already applied to the Bombay High Court and we have also informed the Ministry of Information and Broadcasting.”

    What drove the reorganisation? D’Silva explains: “When we launched NXT Digital, it was incorporated under GIL as an independent company. At that time, we thought it’s better to apply for a licence under GIL and we got the licence. We also thought that it’s better we keep GIL as the company away from IMCL so that no operator will feel that this is a backdoor entry to take over IMCL. But now the time has passed. GIL is an established company and so the NXT Digital move.”

    HVL whole time director Ashok Mansukhani adds that work is already on to integrate both NXT Digital and InCable. Says he: “We are starting with the backend. We are already synergising both the services. We have one of the best subscriber management systems (SMS) in HITS – ICC from Hansen Technologies. InCable is using Magnaquest for its SMS it is also migrating towards ICC. They will be kept separate but there will be one front end irrespective of who the operator is. “

    D’Silva says that more than 700 cable operator premise equipment (COPEs) have been installed so far. “An estimated three million cable TV subscribers are watching television through our HITS platform,” he reveals. “The philosophy of NXTDigital is very clearly to encourage the cable operator to grow and develop his/her business and also that we are a pure service provider. We don’t want to own any network and that message has gone to all the operators across the country.”

    NXT Digital is offering four different packages to MSOs and LCOs who opt for its service. The Gold Cope cost about Rs 13.5 lakh and gives a bouquet of 550 channels, the Silver costs Rs 10 lakh (450 channels) and the Bronze Rs nine lakh (350 channels). A new Eco package has been introduced for Phase IV areas with its price point being Rs 4 lakh (250 channels).

    D’Silva points out that almost 60 per cent of the installations are of the Gold Cope Unit in Phase III areas. “Even smaller markets are wanting HD channels,” he says.

    But even so the management at NXT Digital is pretty frustrated, and are especially concerned about the future of cable TV digitization. Says Mansukhani: “The final date of digitization is the bottleneck for us. Some 50 cases are pending in the high court. On Monday some cases will be hear. On 26 September there will be five cases in front of a chief justice and on 5 October 35 cases will be heard by a single bench. The chief justice has received these cases and whether they were issued in the constitutional law and interpretation of legislation – that decision will be taken on Monday.”

    The nuking of the sunset date for digitization in phase III areas by the various court cases has blown up the progress of NXT Digital. “We had earlier agreed between the IBF, MSOs, TRAI and MIB jointly that till 31 December 2015 the sunset date for Phase III broadcasters would not charge the digital rate to facilitate to process of digitisation,” says D’Silva. “That agreement is valid even today. But broadcasters are charging cable operators analogue rates in Phase III areas and they are slapping us with digital tariffs for the same regions. How is this fair? NXT Digital does not own any network…we are providing services. The same principle should apply to phase IV also where 60 million homes need to be digitized.”

    D’Silva exhorts broadcasters and the industry to give it its total support on HITS as it is a step forward in infrastructure sharing (which is a subject of a consultation paper that the Telecom Regulatory Authority of India put up recently).

    “This must be allowed. How will a big MSO in a small area function when the switchoff happens? He has to come to me. The fact is banks are sharing infrastructure in ATMs. Telcos are doing so too. Why spend money on overbuilding infrastructure,” he asks. “Excepting one broadcaster, all of them are permitting us to provide passive services to MSOs who have a DAS licence and have content agreements with them with the proviso that they pay directly to the broadcaster subject to the SMS report filed by our HITS platform. This one broadcast network is hell bent on undermining our effort to provide television to far flung subscribers in the interiors.”

    He further adds” “Then, the subscriber in Phase IV is paying Rs 60-80 for his channels. With a digitized package it could go up to Rs 160 or so. Even otherwise he may have to pay Rs 40 for just a handful of encrypted channels. The beneficiaries are only the broadcasters and they don’t have any digital model for rural India. The BARC ratings shows more and more free to air channel are popular in rural India. Who is going to pay for pay channels?”

    Asks Mansukhani: “Are we going to have a digital divide in our country? Digitisation will only be limited to metropolitan India and benefits will not flow to rural India. And going by the current goings-on there is a great danger of that happening.”

  • Q1-17: HVL revenue up 129%; to invest Rs 271 crore for carriage subsidiary stake

    Q1-17: HVL revenue up 129%; to invest Rs 271 crore for carriage subsidiary stake

    BENGALURU/MUMBAI: Hinduja Ventures Limited (HVL) reported more than doubling (up 129 percent) of its revenue for the quarter ended June 30, 2016 (Q1-17, current quarter) vis-à-vis revenue for the corresponding year ago quarter.

    HVL revenue for Q1-17 was Rs 60.95 crore, while it was Rs 26.63 crore for the corresponding period previous year.
    However, quarter-over-quarter (q-o-q), revenue for the current quarter declined 35 percent from Rs 93.75 crore in Q4-16. The company attributes the increase in revenue to sale of setup boxes/ broking income/ income from trading of securities.

    The company reported a year-over-year (y-o-y) growth in profit of 1.3 percent for the current quarter at Rs 24.21 crore as compared to Rs 23.90 crore and a 70.8 percent q-o-q growth as compared to Rs 14.18 crore.

    HVL operates across three segments of media and communication, real estate, and investment and treasury. HVL is the holding company of integrated media companies IndusInd Media and Communications Limited (IMCL) and Grant Investrade Limited (GIL), which has launched the headend-in-the-sky (HITS) digital platform under brand name NXT DIGITAL.

    HVL’s media and communications segment

    Revenue from its media and communications segment declined q-o-q to less than a fourth (down 76.6 percent). HVL reported revenue of Rs 14.40 crore in Q1-17 and Rs 61.69 crore in Q4-16. The segment reported an operating loss of Rs 5.61 crore in the current quarter as compared to an operating loss of Rs 0.37 crore in Q1-16 and an operating profit of Rs 2.71 crore in Q4-16. For the year ended March 31, 2016 (FY-16), the segment reported an operating profit of Rs 10.09 crore.

    HVL to invest Rs 271 crore for stake in IMCL

    HVL proposes to purchase 43,03,000 equity shares of Rs 10 each for a premium of Rs 456 per share of its subsidiary IMCL.
    This stake purchase, which constitutes 5.82 percent of IMCL’s paid up equity capital, will cost HVL Rs 200.52 crore. HVL also proposes to buy 7,03,60,0000 IMCL preference shares of Rs 10 each at par from its wholly owned subsidiary shares of GIL. The IMCL stake purchase from GIL constitutes 26.02 percent of paid up preference capital of IMCL and will cost HVL Rs 70.36 crore.

    GIL to de-merge HITS to IMCL

    GIL will de-merge its HITS business undertaking to IMCL, the HVL board has decided. The scheme is subject to consent(s), approval(s) permission(s) of statutory authorities(s) if any, including, in particular, the approval from the Ministry of Information and Broadcasting (MIB), Government of India for transfer and vesting of HITS License held by GIL in favour of IMCL.

    HVL says that India is yet to witness a genuine and significant revolution in the digital delivery in true sense, especially in tier 3 and 4 cities and rural hinterland.

    The digitalization with many upcoming value added services of over 160 million (16 crore) TV homes is still far from over. It is envisaged that the combined strength of fibre based digital cable delivery and the satellite based digital signals for cable industry will enhance and create a new paradigm in the digital content delivery platform in terms of reach, value for money, state of the art technology, quality of services and significant value added digital services.

    The company also feels that this will further enhance shareholders value by consolidating the digital media distribution businesses and will help to rationalize the group structure by optimizing the resources and integrating operational synergies both in revenue and costs.

    The combined entity will also be able to venture and grow in the newer areas and many digital technology-linked value-added services that would be relevant for this business and same set of customers.
    According to HVL, its broadband business has also been restructured for a direct focus and is planned for a manifold technology-based growth.

    The synergy will be able to consolidate HVL’s media investments and would  enhance and maximize the shareholders value, avers the company.

    GIL’s (HITS business) merger into IMCL will be a unique first in the country in digital cable and has a long term positive financial implication by increasing competitive strength, technology synergies, customer service efficiency and high productivity with a genuine all-India reach. HVL says adding that similar models in developed countries have witnessed a prime leadership position in mid to long term.

    The company states that this arrangement will also strengthen HVL’s investment in media business, which will, in turn, unlock the value of HVL’s shareholders.

    Note: (1) The unit of currency in this report is Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) The numbers in this report are standalone unless stated otherwise

    (3)  1 USD= INR 67

     

  • Q1-17: HVL revenue up 129%; to invest Rs 271 crore for carriage subsidiary stake

    Q1-17: HVL revenue up 129%; to invest Rs 271 crore for carriage subsidiary stake

    BENGALURU/MUMBAI: Hinduja Ventures Limited (HVL) reported more than doubling (up 129 percent) of its revenue for the quarter ended June 30, 2016 (Q1-17, current quarter) vis-à-vis revenue for the corresponding year ago quarter.

    HVL revenue for Q1-17 was Rs 60.95 crore, while it was Rs 26.63 crore for the corresponding period previous year.
    However, quarter-over-quarter (q-o-q), revenue for the current quarter declined 35 percent from Rs 93.75 crore in Q4-16. The company attributes the increase in revenue to sale of setup boxes/ broking income/ income from trading of securities.

    The company reported a year-over-year (y-o-y) growth in profit of 1.3 percent for the current quarter at Rs 24.21 crore as compared to Rs 23.90 crore and a 70.8 percent q-o-q growth as compared to Rs 14.18 crore.

    HVL operates across three segments of media and communication, real estate, and investment and treasury. HVL is the holding company of integrated media companies IndusInd Media and Communications Limited (IMCL) and Grant Investrade Limited (GIL), which has launched the headend-in-the-sky (HITS) digital platform under brand name NXT DIGITAL.

    HVL’s media and communications segment

    Revenue from its media and communications segment declined q-o-q to less than a fourth (down 76.6 percent). HVL reported revenue of Rs 14.40 crore in Q1-17 and Rs 61.69 crore in Q4-16. The segment reported an operating loss of Rs 5.61 crore in the current quarter as compared to an operating loss of Rs 0.37 crore in Q1-16 and an operating profit of Rs 2.71 crore in Q4-16. For the year ended March 31, 2016 (FY-16), the segment reported an operating profit of Rs 10.09 crore.

    HVL to invest Rs 271 crore for stake in IMCL

    HVL proposes to purchase 43,03,000 equity shares of Rs 10 each for a premium of Rs 456 per share of its subsidiary IMCL.
    This stake purchase, which constitutes 5.82 percent of IMCL’s paid up equity capital, will cost HVL Rs 200.52 crore. HVL also proposes to buy 7,03,60,0000 IMCL preference shares of Rs 10 each at par from its wholly owned subsidiary shares of GIL. The IMCL stake purchase from GIL constitutes 26.02 percent of paid up preference capital of IMCL and will cost HVL Rs 70.36 crore.

    GIL to de-merge HITS to IMCL

    GIL will de-merge its HITS business undertaking to IMCL, the HVL board has decided. The scheme is subject to consent(s), approval(s) permission(s) of statutory authorities(s) if any, including, in particular, the approval from the Ministry of Information and Broadcasting (MIB), Government of India for transfer and vesting of HITS License held by GIL in favour of IMCL.

    HVL says that India is yet to witness a genuine and significant revolution in the digital delivery in true sense, especially in tier 3 and 4 cities and rural hinterland.

    The digitalization with many upcoming value added services of over 160 million (16 crore) TV homes is still far from over. It is envisaged that the combined strength of fibre based digital cable delivery and the satellite based digital signals for cable industry will enhance and create a new paradigm in the digital content delivery platform in terms of reach, value for money, state of the art technology, quality of services and significant value added digital services.

    The company also feels that this will further enhance shareholders value by consolidating the digital media distribution businesses and will help to rationalize the group structure by optimizing the resources and integrating operational synergies both in revenue and costs.

    The combined entity will also be able to venture and grow in the newer areas and many digital technology-linked value-added services that would be relevant for this business and same set of customers.
    According to HVL, its broadband business has also been restructured for a direct focus and is planned for a manifold technology-based growth.

    The synergy will be able to consolidate HVL’s media investments and would  enhance and maximize the shareholders value, avers the company.

    GIL’s (HITS business) merger into IMCL will be a unique first in the country in digital cable and has a long term positive financial implication by increasing competitive strength, technology synergies, customer service efficiency and high productivity with a genuine all-India reach. HVL says adding that similar models in developed countries have witnessed a prime leadership position in mid to long term.

    The company states that this arrangement will also strengthen HVL’s investment in media business, which will, in turn, unlock the value of HVL’s shareholders.

    Note: (1) The unit of currency in this report is Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) The numbers in this report are standalone unless stated otherwise

    (3)  1 USD= INR 67

     

  • Hinduja Group’s HITS to be available on Thaicom 7

    Hinduja Group’s HITS to be available on Thaicom 7

    MUMBAI: Thaicom, one of Asia’s leading satellite operators, announced that its Thaicom 7 satellite is fully booked following an order from Grant Investrade Ltd (GIL).
     

    GIL. a subsidiary of Hinduja Ventures Ltd, confirmed the order for the C-band transponders on the satellite, which it will use to provide digital cable TV services through its Headend-In-The-Sky (HITS) system.
     

    The HITS service, branded Nxt Digital, will help the distribution fraternity smoothly transition to digital and allow customers to choose channels through a satellite multiplex across India.
     

    “It is one of India’s national missions to roll out Digital Addressable Systems (DAS) of broadcasting all over the country and we believe ‘Nxt Digital’ is a significant step towards this goal,” said GIL, MD Tony D’Silva. “Thaicom is a trusted and experienced satellite provider which has played a vital role in this initiative and the substantial number of satellite transponders we have at the time of launch will continue to grow as we expand our portfolio.”

     

    “We are proud to be able to contribute to India’s broadcast and media development and thank our Indian partners for their trust in us. This latest deal is particularly exciting for Thaicom as it marks an important milestone for us, not only in regards to Thaicom 7 now being 100 percent booked, but also in bringing our platform for content distribution to India which sets us in good stead for the launch of Thaicom 8,” said Thaicom CEO Paiboon Panuwattanawong.

     

    Castle Media has been appointed as the technology program manager for Nxt Digital. It has been tasked with the design-to-delivery of the HITS service including setting up a state-of-the-art next generation broadcast facility and a robust back-end facility for SMS, CRM, Billing, CAS and other mission critical components and services.
     

    “Thaicom 7 being a recently launched satellite exhibits strong parameters to facilitate a high-quality digital HITS service in India. We’ll continue to work closely with Thaicom to upscale our transponder requirements as our business grows over the next few years, on the back of a strong push by the government to make India a digital nation,” Castle Media ED Vynsley Fernandes added in parting.

     

     

     

  • Top management revamp clears path for investment in IndusInd Media

    Top management revamp clears path for investment in IndusInd Media

    MUMBAI: IndusInd Media and Communications is finally set to get Rs 300 crore of investments from its promoter Hinduja Ventures, following a complete revamp of the top management at the multi-system operators with Tony D’silva as the new Managing Director and CEO.

     

    The board of directors of Hinduja Ventures today reviewed the performance of IndusInd Media and decided to go ahead with its planned investment in the company to grab acquisition and growth opportunities arising from digitisation of cable TV services.

     

     

    Hinduja Ventures, in a statement after the board meeting, said the investment is to take advantage of ‘several consolidation opportunities coming up in the digital environment’. The investment will also help IndusInd Media in expanding its customer base in the digital regions as well as spruce up its customer service.

     

     

    Hinduja Ventures has also decided to invest Rs 2 crore in its subsidiary Grant Investrade, which is spearheading its head-end in the sky (HITS) plans.

     

     

    IndusInd Media has planned several new services in the coming months such as broadband services, HD television, hybrid STBs for cable and internet and value added services for customers. The multi-system operator claims to have 8.5 million subscribers across 36 cities.