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Tag: Grant Investrade Limited

  • 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.

  • Hinduja Ventures PAT rises marginally Q1FY18, Nxt Digital HITS 640 districts

    NEW DELHI: Hinduja Ventures Ltd (HVL)  on Thursday announced  standalone net profit after tax of Rs. 255 million for three months ended 30 June 2017 as against Rs. 242.1 million during the same period a period ago.. The net PAT for the period ended grew by 5.33 per cent.

    The total income for the period under review stood at Rs. 506.6 million as against Rs. 619.1 million for the same period a year ago.

    The board of HVL at its meeting held on 10 August 2017 approved un-audited standalone financial results for the quarter ended 30 June 2017.

    HVL is the holding company of big Indian integrated media entities comprising MSO IndusInd Media & Communications Limited (IMCL) and Grant Investrade Limited (GIL) that has launched the HITS digital platform under brand name NXT Digital.

    The company in a statement claimed the HITS platform is making good progress in its expansion plans in the rural markets. The services, being now provided in all the states of the country and 640 districts, are available in more than 1,000 locations. The company claimed that GIL has also been successful in getting more than 97 per cent of its operators/customers on a pre-paid payment mode.

    According to HVL, IMCL is continuing to consolidate its position in phase I and II markets on its own, while its joint ventures too were progressing well. As part of cost rationalisation and improvement in efficiency, IMCL has outsourced the management of its extensive fibre network so that it gets optimized in a focused way.

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  • 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 Ventures’ NXT Digital receives operating licence for HITS

    Hinduja Ventures’ NXT Digital receives operating licence for HITS

    MUMBAI: Grant Investrade Limited (GIL), a subsidiary of Hinduja Ventures, has crossed the final hurdle to start operations of NXT Digital – its headend in the sky (HITS) service. The company has received Wireless Operating License (WOL) from the Wireless Planning & Coordination Wing of the Ministry of Information & Communications Technology.

     

    The WOL is the final regulatory step before making HITS operational, in accordance with the terms and conditions stipulated in the Letter of Intent (LOI) issued by the Ministry of Information & Broadcasting to GIL last year.

     

    “We are delighted to confirm receipt of the WOL for us to commence operationalisation of the HITS service in India. The launch of NXT Digital is in line with the Government’s objective of making India ‘digital’ and we’re proud to be a part of this national initiative,” said GIL chairman AK Das.

     

    “NXT Digital has received an overwhelming response from the distribution fraternity in Phase III & IV markets in India. Our broadcast centre and our backend systems are fully operational; our broadcaster relationships have been formalised, we’ve already rolled out our COPE mini-headend systems and STBs and we’re ready to go ‘live’ shortly,” added GIL managing director Tony D’Silva.

     

    It may be recalled that the government recently ruled out the extension of the DAS phase III deadline of 31 December, 2015. In view of this, NXT Digital is being viewed as the enabler for the cable fraternity go digital as per government mandated standards and within the deadline.

     

     

  • NXT Digital organises roadshows for LMOs across 19 cities

    NXT Digital organises roadshows for LMOs across 19 cities

    MUMBAI: Hinduja’s headend in the sky (HITS) platform NXT Digital is looking at a smooth rollout when it launches by this month end. In keeping with the launch timeline, the platform is talking to the last mile owners (LMOs) across the country directly to help them understand the functioning of the system as well as the advantages of moving from the current multi system operator (MSO) to the HITS platform.

     

    Over the last 11 days, NXT Digital has covered 19 cities including Delhi, Mumbai, Goa, Bhubaneswar and Kolkata among others through its roadshows. The final destination will be Visakhapatnam, where the HITS player will meet city LMOs on 10 August. 

     

    Through the initiative, NXT Digital has met close to 6000 LMOs so far. Additionally, as part of the training, the HITS player will run a live demo van covering 10 states. 

     

    As reported earlier by Indiantelevision.com, NXT Digital has signed up as many as one million analogue TV households in phase III markets in a span of three weeks.

     

    Grant Investrade Limited managing director Tony D’silva said, “The fraternity is extremely excited about NXT Digital. In just over three weeks since NXT Digital was announced, it has already been signed up to reach one million analogue TV households in phase III markets through LMOs and MSOs who have opted for our services.”

     

    “NXT Digital will empower and enable the distribution fraternity including LMOs and MSOs to offer a world of exciting digital services to their end-subscribers in all the analogue households across markets. Crucially, NXT Digital will not only help the LMOs and MSOs go digital as per government mandated standards and within the set deadlines, but, throughout the process, help them be independent and retain the ownership of their network,” added D’silva.

     

  • Hinduja’s NXT Digital tots 1 million subscribers in 3 weeks

    Hinduja’s NXT Digital tots 1 million subscribers in 3 weeks

    MUMBAI: In a short span of three weeks, Hinduja Group’s headend in the sky (HITS) venture – NXT Digital has signed up as many as one million analogue TV households in phase III markets.

     

    Grant Investrade Limited managing director Tony D’silva said, “In just over three weeks since NXT Digital was announced, it has already been signed up to reach one million analogue TV households in phase III markets through LMOs and MSOs who have opted for our services.”

     

    Over the last 21 days, the HITS player has reached out to the cable fraternity across several cities. “The fraternity is extremely excited about NXT Digital,” he said. 

     

    LMOs and MSOs, according to D’silva,  see NXT Digital as a partner that will not only help them make the mandated transition from analogue to digital, but remain independent and owners of the networks they have built with sheer dint of hard work over the years.

     

    The roll-out of digital addressable systems (DAS) in phase III and IV markets across 110 million TV households is being seen as the biggest and the most significant step for the media and entertainment industry in India.

     

    A state-of-the-art broadcast facility in Noida has been designed and purpose-built to provide top quality service, which will roll out in end-August this year. While the satellite-based service will have a national footprint, in view of the deadline for DAS rollout, Grant Investrade is concentrating on the phase III and IV markets for its marketing and subscription drive to enable the cable fraternity provide digital services there.

     

    D’silva said, “NXT Digital will empower and enable the distribution fraternity including LMOs and MSOs to offer a world of exciting digital services to their end-subscribers in all the analogue households across markets. Crucially, NXT Digital will not only help the LMOs and MSOs go digital as per government mandated standards and within the set deadlines, but, throughout the process, help them be independent and retain the ownership of their network.”