EROS MEDIA WORLD PLC ERRATA
ERRATA - ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
With reference to our Annual Report 2022-23, please be informed that the following parts of the Annual Report 2022-23 at pages 13, 23, 34, 43, 46, 48, 50, 56, 57, 58, 59, 60, 62, 63, 64, 65 ,66 ,67 ,68, 69, 71, 72, 75, 77, 78, 79, 80, 81, 82, 84, 85 ,86, 87, 88, 89,93, 94, 96, 98, 99, 100, 102, 107, 108, 113, 115, 117, 118, 119, 121, 122, 127, & 133 are by this Errata amended, corrected and taken to read as shown herein instead of as printed in the Annual Report.
The Errata to this Annual Report is being made consequent to the errors crept in the Annual Report while printing.
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Page No. 46
Printed under Current Liabilities - a) Borrowing amount was ` 23,945, corrected to ` 23,944. Change in amount is due to casting error. Printed under Total Liabilities - ` 1,14,023, corrected to ` 1,14,022. Change in amount is due to casting error. - Page No. 48 - Statement of Changes in Equity
Printed Under A) Equity Share Capital (Balance as at 31st March 2021) amount was ` 9587 Lakh, corrected to ` 9586 Lakh. Changes in amount due to casting error.
Printed Under A) Equity Share Capital (Balance as at 31st March 2022) amount was ` 9589 Lakh, corrected to ` 9588 Lakh. Changes in amount due to casting error.
Printed Under A) Equity Share Capital (Balance as at 31st March 2023) amount was ` 9592 Lakh, corrected to ` 9591. Changes in amount due to casting error.
Printed under B) Other Equity - Profit/(loss) for the year in Total Other equity ` 11,332 Lakh, corrected to ` 11,331 Lakh. Change in amount due to casting error. - On page no 50 - Cash flow statement - Net Cash flow from / (used) in financing activities (C) ` 10,400 Lakh, corrected to ` 10,399 Lakh. Change in amount due to casting error.
- Page no. 56 - p) Segment Reporting - Printed as - Ind-AS 108 Operating Segments requires perating segments to be identified on the same basis as is used internally for the review of performance and allocation of resources by the Chief Operating Decision Maker. The revenues of films are earned over various formats; all such formats are functional activities of filmed entertainment and these activities take place on an integrated basis. The management team reviews the financial information on an integrated basis for the Company as a whole., The management team also monitors performance separately for individual films or for at least 12 months after the theatrical release.
The Company has identified three geographic markets: India, UAE and Rest of the world.
Correction and substituted as : p) Segment Reporting - An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the company's Chief Operating Decision Maker ("CODM") to make decisions for which discrete financial information is available. The Company's operating businesses are organized and managed separately according to the nature of products and services provided, with each segment representing a strategic business unit that offers different products and serves different markets. Based on the management approach as defined in Ind AS 108, the CODM evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments and geographic segments. The Company has identified three geographic markets: India, UAE and Rest of the world. - Page no. 56 - Point t - printed as - Standard issued but not effective
At the date of approval of these financial statements, the Company has not applied the amendments to IndAS made by Ministry of Corporate Affairs vide Notification dated 23 March 2022 that have been issued but are not yet effective.
Major amendments applicable to company notified in the notification are provided below: - Ind AS 103 - Business Combinations
- Ind AS 109 - Financial Instruments
- Ind AS 16 - Leases
(xiii) Ind AS 37 - Provisions, Contingent Liabilities and Contingent Assets
Application of above Standards are not expected to have any significant impact on the Company's financial statements.
Correction and substituted as
Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 23, 2022, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2022, applicable from April 1st, 2023, as below
Amendment to Ind AS 1 "Presentation of Financial Statements
The amendments require companies to disclose their material accounting policies rather than their significant accounting policies. Accounting policy information is material if, together with other information can reasonably be expected to influence decisions of primary users of general purpose financial statements. The Company does not expect this amendment to have any significant impact in its financial statements.
Amendment to Ind AS 12 "Income Taxes
The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences.
Amendment to Ind AS 8 "Accounting Policies,
EROS1 | INTERNATIONAL MEDIA LIMITED | 1 |
ERRATA
Changes in Accounting Estimates and Errors" The amendments will help entities to distinguish between accounting policies and accounting estimates. The definition of a change in accounting estimates has been replaced with a definition of accounting estimates. Under the new definition, accounting estimates are "monetary amounts in financial statements that are subject to measurement uncertainty". Entities use measurement techniques and inputs to develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty. The Company does not expect this amendment to have any significant impact in its financial statements.
- Page 57 - Point 2 - a) Removed this point, as it is no longer required.
- Page no 58 - Note no 3 - Property, Plant & Equipment - Printed As :
Gross Carrying Amount | Right of Use | |||
Balance as at 31 March 23 | 2 | |||
Corrected as : | ||||
Gross Carrying Amount | Right of Use | |||
Balance as at 31 March 23 | 0 | |||
Printed as : | ||||
Gross Carrying Amount
Depreciation Charge
Adjustment Disposals
Balance as at 31 March 2023
Net Carrying amount
Balance as at 31 March 2023
Motor Vehicles
24
(11)
347
76
Corrected as :
Gross Carrying Amount | Motor Vehicles | |||
Depreciation Charge | 20 | |||
Adjustment Disposals | (8) | |||
Balance as at 31 March 2023 | 346 | |||
Net Carrying amount | ||||
Balance as at 31 March 2023 | 77 | |||
Printed as: | ||||
Gross Carrying Amount | Data Processing Equipment | |||
Adjustment Disposals | (45) | |||
Balance as at 31 March 2023 | 334 | |||
Net Carrying amount | ||||
Balance as at 31 March 2023 | 65 | |||
Corrected as : | ||||
Gross Carrying Amount
Adjustment Disposals
Balance as at 31 March 2023
Net Carrying amount
Balance as at 31 March 2023
Data Processing Equipment
(44)
335
64
Printed as :
Gross Carrying Amount | Total | |||
Balance as at 31 March 2023 | 2,957 | |||
Corrected as : | ||||
Gross Carrying Amount | Data Processing Equipment | |||
Balance as at 31 March 2023 | 2,955 | |||
EROS INTERNATIONAL MEDIA LIMITED | 2 |
ERRATA
Printed as :
1. The Company's immovable property situated in Mumbai, India is pledged against the borrowings as explained in note 19 and 24
Corrected and substituted as :
- The Company's immovable property situated in Mumbai, India is pledged against the borrowings as explained in note 19 and 24
- There is no immovable property where title deed of such immovable property is not held in name of the Company or jointly held with others
- The Company has not revalued its Property, Plant and Equipment during current financial year & previous financial year
8. Page no 59 - Note no 4.1 - Content Advance - Printed As :
a) Ageing as at 31 March 2023 | Amount ` in lakhs | ||||||||||
Particulars | Amount in CWIP for a period of | Total | |||||||||
< 1 year | 1 - 2 years | 2 - 3 year | > 3 year | ||||||||
Projects in progress | 4,082 | (2,373) | 869 | 1,25,110 | 1,27,688 | ||||||
Corrected and substituted as : | |||||||||||
a) Ageing as at 31 March 2023 | Amount ` in lakhs | ||||||||||
Particulars | Amount in CWIP for a period of | Total | |||||||||
< 1 year | 1 - 2 years | 2 - 3 year | > 3 year | ||||||||
Projects in progress | 141 | 39 | 805 | 20,012 | 20,996 | ||||||
- Ageing as at 31 March 2023 where project is overdue or has exceeded cost compared to original plan (net of provision) Printed as :
Particulars* | To be completed** | Total(i) | Impairment & | Net (i-ii) | ||||||||||||||||
< 1 year | 1 - 2 years | 2 - 3 year | > 3 year | provision (ii) | ||||||||||||||||
CAE-4 | 4,120 | - | - | - | 4,120 | 1,351 | 2,769 | |||||||||||||
CAE-17 | - | (402) | 55 | 24,173 | 23,826 | 19,400 | 4,426 | |||||||||||||
CAE-20 | (180) | 25 | 37 | 10,854 | 10,737 | 9,874 | 863 | |||||||||||||
CAE-21 | 11 | (65) | 314 | 20,540 | 20,799 | 13,491 | 7,308 | |||||||||||||
CAE-22 | 50 | (1,945) | 81 | 28,687 | 26,872 | 25,295 | 1,577 | |||||||||||||
Project less than 1,000 lakhs | 80 | 14 | 288 | 621 | 1,000 | 541 | 459 | |||||||||||||
Total | 4,082 | 2,373 | 869 | 1,25,110 | 1,27,685 | 1,06,689 | 20,996 | |||||||||||||
Corrected and substituted as : | ||||||||||||||||||||
Particulars* | To be completed** | Total(i) | Impairment & | Net (i-ii) | ||||||||||||||||
< 1 year | 1 - 2 years | 2 - 3 year | > 3 year | provision (ii) | ||||||||||||||||
CAE-4 | - | - | - | 4,120 | 4,120 | 1,351 | 2,769 | |||||||||||||
CAE-17 | - | 55 | 23,771 | 23,826 | 19,400 | 4,426 | ||||||||||||||
CAE-20 | 25 | 37 | 10,674 | 10,737 | 9,874 | 863 | ||||||||||||||
CAE-21 | 11 | 249 | 20,540 | 20,799 | 13,491 | 7,308 | ||||||||||||||
CAE-22 | 50 | 81 | 26,741 | 26,872 | 25,295 | 1,577 | ||||||||||||||
Total | 141 | 39 | 805 | 1,26,700 | 1,27,685 | 1,06,689 | 20,996 | |||||||||||||
Page No 60 - Printed as :
- Ageing as at 31 March 2022
Particulars | Amount in content advances for a period of | > 3 year | Total | ||||||||
< 1 year | 1 - 2 years | 2 - 3 year | |||||||||
Projects in progress | 134 | 864 | 12,853 | 1,13,810 | 1,27,659 | ||||||
Corrected and substituted as :
- Ageing as at 31 March 2022
Particulars | Amount in content advances for a period of | > 3 year | Total | ||||||||
< 1 year | 1 - 2 years | 2 - 3 year | |||||||||
Projects in progress | 134 | 864 | 12,853 | 15,490 | 29,790 | ||||||
EROS INTERNATIONAL MEDIA LIMITED | 3 |
ERRATA
9. Page No. 62 - Note No. 11.1 Trade Receivable Ageing as at 31 March 23 - Printed as :
Particulars | Outstanding for following period from due date of payment | Total | ||||||||||||
Not Due | Less than | 6 months | 1 - 2 years | 2 - 3 years | More than | |||||||||
6 months | - 1 year | 3 years | ||||||||||||
Undisputed Trade receivables- | ||||||||||||||
considered good | 65,306 | 7,013 | 44 | 57 | 84 | 361 | 72,865 | |||||||
Sub Total | 65,306 | 7,013 | 44 | 57 | 84 | 361 | 72,865 | |||||||
Total | 65,306 | 6,988 | 20 | 4 | - | - | 72,317 | |||||||
Corrected and substituted as : | ||||||||||||||
Particulars | Outstanding for following period from due date of payment | Total | ||||||||||||
Not Due | Less than | 6 months | 1 - 2 years | 2 - 3 years | More than | |||||||||
6 months | - 1 year | 3 years | ||||||||||||
Undisputed Trade receivables- | ||||||||||||||
considered good | 10 | 11,354 | 1,028 | 57 | 84 | 60,331 | 72,865 | |||||||
Sub Total | 10 | 11,354 | 1,028 | 57 | 84 | 60,331 | 72,865 | |||||||
Total | 10 | 11,329 | 1,003 | 4 | - | 59,971 | 72,317 | |||||||
% of provision as per | ||||||||||||||
Expected Credit Loss | 0% | 2% | 92% | 100% | 1% | |||||||||
10. Page No.63 - Trade Receivables Ageing as at 31 March 2022 - Printed as :
Particulars | Outstanding for following period from due date of payment | Total | |||||||||||||
Not Due | Less than | 6 months | 1 - 2 years | 2 - 3 years | More than | ||||||||||
6 months | - 1 year | 3 years | |||||||||||||
Less: Provision for | |||||||||||||||
Expected Credit Loss | 1 | 123 | 17 | - | - | 401 | 542 | ||||||||
Total | 20,825 | 1,910 | 10,564 | 24,588 | 4,587 | 139 | 62,335 | ||||||||
Corrected and substituted as : | |||||||||||||||
Particulars | Outstanding for following period from due date of payment | Total | |||||||||||||
Not Due | Less than | 6 months | 1 - 2 years | 2 - 3 years | More than | ||||||||||
6 months | - 1 year | 3 years | |||||||||||||
Less: Provision for | |||||||||||||||
Expected Credit Loss | - | 124 | 17 | - | 139 | 262 | 542 | ||||||||
Total | 20,826 | 1,909 | 10,564 | 24,588 | 4,448 | - | 62,336 | ||||||||
% of provision as per Expected Credit Loss | 6% | 0% | 0% | 3% | 100% | ||||||||||
- Page No. 64 - Note No 15 - Other Financial Assets - Printed as - Unbilled Revenue - Corrected as Unbilled Revenue Page No 64 - Note No 15 - Other Financial Assets - No Foot Note -
Corrected as:
Unbilled Income is because the company has not yet issued an invoice, however, the balance has been included under Other Financial Assets - Page No. 65 - Note No 17- D -Share Holding of Promoter as at 31st March 2023 - Printed as -
Classs of | Promoter's Name | No. of shares | Change | No. of shares | % of total | % change | ||||||
Equity share | at the beginning | during | at the end | shares | during the | |||||||
of the year | the year | of the year | year | |||||||||
Equity Shares | Mrs. Meena Lulla | 4,200 | - | 4,200 | 0.00% | 0.00% | ||||||
Corrected as | ||||||||||||
Classs of | Promoter's Name | No. of shares | Change | No. of shares | % of total | % change | ||||||
Equity share | at the beginning | during | at the end | shares | during the | |||||||
of the year | the year | of the year | year | |||||||||
Equity Shares | Mrs. Meena Lulla | 4,200 | - | 4,200 | 0.01% | 0.00% | ||||||
EROS INTERNATIONAL MEDIA LIMITED | 4 |
ERRATA
13. Page No. 65 - Note No 17- D -Share Holding of Promoter as at 31st March 2022 - Printed as
Classs of | Promoter's Name | No. of shares | Change | No. of shares | % of total | % change | ||||||
Equity share | at the beginning | during | at the end | shares | during the | |||||||
of the year | the year | of the year | year | |||||||||
Total | 48.07% | |||||||||||
Corrected as | ||||||||||||
Classs of | Promoter's Name | No. of shares | Change | No. of shares | % of total | % change | ||||||
Equity share | at the beginning | during | at the end | shares | during the | |||||||
of the year | the year | of the year | year | |||||||||
Total | 48.06% | |||||||||||
- Page No. 65 - Note No 17- F -Rights, preferences, restrictions of equity Shares - Printed as
Shareholding pattern is revised pursuant to clarification sought by NSE regarding variation in shareholding pattern filed with exchange and as per record of depositories (NSDL & CDSL). To resolve the issue and to comply para 4.7(ii) of SEBI Master Circular for Depositories dated October 25,2019 bearing no. SEBI/HO/MRD/DP/CIR/P/118, which states that Depositories may also advise DPs that an off-market transfer of shares leads to change in ownership and cannot be treated as pledge. Further, this issue may also be taken up in the investor awareness programs wherein the manner of creation of pledge can be effectively communicated to the BOs directly the SHP is modified in accordance with the circular. This circular came into existence in October 2019, however, Promoters have pledged their shares in the year 2018 much before this circular. Promoters / shareholders / Company have already filed necessary disclosures under SAST and PIT regulations before this circular hence Company was filing SHP in tune with those disclosures.
Correction - Removed this point, as it is no longer required. - Page no. 66 Note no 19 long Term borrowings. Printed as :
Less: Current maturities disclosed under other current financial liabilities (Refer note 26)
Corrected as :
Less: Current maturities disclosed under other current financial liabilities (Refer note 24)
Note added : ** Other loans are secured by hypothication of assets acquired there against, carrying rate of interest of 10.50% to 11.50% which are repayable as per maturity profile set out below - Page No 67 - Note no 19 - Maturity profile of long term borrowing is set out below - Term Loan from Bank as at 31 March 2023 for Less than 1 year changed to ` 1,231 from Zero.
- Page no. 67 - Note no 19 - Maturity profile of long term borrowing is set out below - Term Loan from Bank as at 31 March 2022 for 1-3 years changed to ` 4,624 from Zero.
- Page No 68 - Note 22A Deferred tax (Assets)/liabilities (net) to be included as below:
As at | As at | |||
31 March 2023 | 31 March 2022 | |||
22A Deferred tax (Assets)/liabilities (net) | ||||
Deferred tax liability on | ||||
Depreciation on tangible assets | (5) | 43 | ||
Amortisation of intangible assets | 2,969 | 4,812 | ||
Total | 2,964 | 4,855 | ||
Deferred tax asset on | ||||
Provision for expenses allowed on payment basis | 752 | 752 | ||
Others | - | - | ||
Impairment | 28,073 | 28,073 | ||
Business loss | 1,911 | 742 | ||
Total | 30,736 | 29,568 | ||
Deferred tax (Assets)/liabilities (net) | (27,773) | (24,712) | ||
Restricted to and consequent impact | - | - | ||
Significant management judgement is considered in determining provision for income tax, deferred tax assets and liabilities and recoverability of deferred tax asset. Net deferred tax assets have been restricted to NIL on conservative basis. Unused tax losses for which no deferrred tax asset (DTA) is recognised in Balance Sheet.
EROS INTERNATIONAL MEDIA LIMITED | 5 |
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Eros Media World plc published this content on 22 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2023 08:49:06 UTC.
