SUN TV NETWORK LIMITED — Annual Report 2021

Jun 11, 2021

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

11th June, 2021

BSE Limited Floor No. 25, P J Towers, Dalal Street, Mumbai - 400 001

National Stock Exchange of India Limited Exchange Plaza Bandra - Reclamation BandraKurla Complex, Bandra (E) Mumbai - 400 051

Scrip Code: 532733, Scrip Id: SUNTV

Symbol: SUNTV, Series: EQ

Subject: Provisions of the SEBI (Listing Obligations and Disclosur e Requirem ents) Regulations, 2015.

With reference to the above, we hereby submit/ inform that:

• 1. The Board of Directors at its meeting held on 11th June 2021, ( commenced at 2.30 p.m. and concluded at 4.30 p.m.) has approved and taken on record the Audited Financial Results of the Company for the quarter and year ended 31st March 2021.
• 1. Audited Financial Results (Standalone and Consolidated) along with Auditors' Report of the Company for the quarter and year ended 31st March 2021 prepared in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requir ements) Regulations, 2015 are enclosed herewith.
• 1. Earnings Release of our Company for the quarter and year end ed 31st March 2021 is enclosed herewith.
• 1. Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015, we hereby declare and conf irm that the Reports of the Auditors as the Standalone and Consolidated Financial Statements for the year ended 31st March 2021 do not contain any modified opinion.
• 1. Copy of ex tract of financial results required to be published in Newspaper as per Listing regulations.

Kindly acknowledge receipt.

Thanking you, For Sun TV Network Limited

Company Secretary & Compliance Officer

SuN TV NETWORK LIMITED

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

	STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
			Ouarter Ended		Year Ended
S.No	Particulars	March 31, 2021	December 31,2020	March 31, 2020	March 31, 2021	March 31, 2020
		AuditedRefer Note 9	Unaudited	AuditedRefer Note 9	Audited	Audited
1	Revenue from Operations	781.99	972.34	735.16	3,116.59	3,404.42
$\mathbf{2}$	Other Income	50.59	62.10	57.03	271.44	248.93
3	Total Income $(1+2)$	832.58	1,034,44	792.19	3,388.03	3,653.35
$\overline{4}$	Expenses
	(a) Operating expenses	113.36	122.39	92.20	403.03	499.24
	(b) IPL Franchise Fees	u,	41.39	u,	51.07	46.31
	(c) Employee benefits expense	66.97	67.25	73.11	279.69	292.39
	(d) Depreciation and Amortisation expense	76.62	68.70	232.83	382.06	679.33
	(e) Finance Costs	17.18	1.46	1.86	21.97	7.78
	(f) Other Expenses	54.87	140.63	66.34	315.40	330.42
	Total Expenses	329.00	441.82	466.34	1,453.22	1,855.47
5	Profit Before Tax (3 - 4)	503.58	592.62	325.85	1,934.81	1,797.88
6	Tax Expenses
	(a) Current tax	106.36	147.19	98.00	462.88	446.51
	(b)Taxes relating to earlier years	373.64			373.64
	(c) Deferred taxTotal	(426.30)53.70	3.61150.80	(22.15)75.85	(422.12)414.40	(20.46)426.05
$\overline{7}$	Profit after tax $(5 - 6)$	449.88	441.82	250.00	1,520.41	1,371.83
8	Other Comprehensive Income for the periodItems not to be reclassified to profit or loss in subsequent periods:
	Remeasurement gains and (losses) on defined benefit obligations (net of taxes)	1.98	(0.15)	0.04	1.53	(0.54)
$\mathbf{Q}$	Total Comprehensive income for the period $(7 + 8)$	451.86	441.67	250.04	1,521.94	1,371.29
10	Paid-up equity share capital (Face value of Rs.5.00 /- each)	197.04	197.04	197.04	197.04	197.04
$\mathbf{11}$	Reserves excluding revaluation reserves (i.e. Other Equity)				6,751.95	5,427.05
12	Earnings per share (Face value of Rs.5.00 /- each) - Basic and Diluted - in Rs.	11.42	11.21	6.34	38.58	34.81
			Not Annualised

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¥ SuN TV NETWORK LIMITED

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in GIN.: L22110TN1985PLC012491

	Sun TV Network Limited
	Regd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028CIN: L22110TN1985PLC012491 Email: tvinfo@sunnetwork.in; www.suntv.in
Notes
1	STANDALONE STATEMENT OF ASSETS AND LIABILITIES
		Rs in crores
S.No	Particulars	As at March 31, 2021	As at March 31, 2020
		Audited	Audited
	ASSETS
$\mathbf{1}$	Non-Current assets
	(a) Property, Plant and Equipment	585.16	631.78
	(b) Capital work-in-progress	146.27	66.25
	(c) Investment Properties	7.79	8.28
	(d) Other intangible assets	138.74	250.15
	(e) Right to use assets	36.06	56.07
	(f) Investment in Subsidiary / Joint Ventures	713.55	713.55
	(g) Financial Assets
	- Investments	657.32	277.49
	- Other financial assets	44.33	11.06
	(h) Non current tax assets (net)	٠	73.08
	(i) Deferred tax assets (net)	336.98
	(i) Other non current assets	163.59	207.89
	Total Non - current assets	2,829.79	2,295.60
$\overline{2}$	Current assets
	(a) Financial assets
	- Investments	2,393.25	1.957.94
	- Trade receivables	1,394.41	1,309.98
	- Cash and Cash equivalents	461.28	402.48
	- Bank balances other than cash and cash equivalents	414.02	126.34
	- Other financial assets	250.96	185.46
	(b) Other current assets	33.97	38.86
	Total current assets	4,947.89	4,021.06
	TOTAL ASSETS (1+2)	7,777.68	6,316.66
	EQUITY AND LIABILITIES
$\mathbf{1}$	Equity
	(a) Equity Share Capital	197.04	197.04
	(b) Other equity	6,751.95	5,427.05
	Total Equity	6.948.99	5,624.09
$\overline{2}$	Liabilities
	Non Current liabilities
	(a) Financial liabilities
	- Trade payables
	- Other financial liabilities	21.75	42.73
	(b) Government grants	3.33	3.89
	(c) Deferred tax liabilities (net)	¥,	85.14
	Total Non - current liabilities	25.08	131.76
3	Current liabilities
	(a) Financial liabilities
	- Trade payables	259.43	277.18
	- Other current financial liabilities	215.04	212.61
	(b) Government grants	0.56	0.64
	(c) Short term provisions	240.22	20.87
	(d) Other current liabilities	88.36	49.51
	Total current liabilities	803.61	560.81
	TOTAL EQUITY AND LIABILITIES (1+2+3)	7,777.68	6,316.66

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¢ SuN TV NETWORK LtMITED

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in CIN.: L22110TN1985PLC012491

Sun TV Network Lim iredRegd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028CIN : L22110TNl985PLC012491 Ema il: tvinfo(@sunnetwork. in;www.suntv.in
1. STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARC/131, 101/	Rs in crore.s
Particulars	March 31, 2021	March 31, 2020
	Audited	Audited
Cas h flow from operating activities
Net profit before tax and exce1>1ional items	1,934.81	1,797.88
Adjustments to reconcile profit before tax to net cash flows:
Depreciation on property, plant and equipment and investment properties	94.81	88.70
Amortisation of intangible assets	287.25	590.63
(Profit)/ Loss on sale of property, plant and equipmentTranslaJion loss/ (gain) on monetary assets and liabilities	0487.31	0.12(9.42)
lmpainnent allowance (allowance for bad and doubtful debts/ movie advance and other advances)	46.89	32.41
Provision for litigations and claims	(0.66)	1.33
Bad debts wrinen off	4.39	8.13
Liabilities/ provisions no longer required wrinen back	( 14.39)	(0.8 4)
Interest income	(8007 )	(44.02 )
Deferral of 0TH Revenue	6.29	11.09
Export incentives (Government grants)	(27.00)	(0.78)
Dividend income / Net gain on sale of current inveslmentsFair value gain on financial instruments at fair value through profit or loss	(85. 15)(59.95)	(175.8 1)(9.67)
Finance cost	21.97	7.78
Operating profit before working capital changes	2,136.98	2,297.53
Movements in working capital :
(Increase)/ Decrease in trade receivables	( 141.34)	(263.53)
(Increase)/ Decrease in inventories	-	0.24
{Increase)/ Decrease in other current assets/other financial assets	(37.05)	( 15.09)
(Increase)/ Decrease in loans and advances	2.74	3.37
Increase / (Decrease) in trade payables and other liabilities/other linancial liabilities	2 1.41	11.02
Increase / (Decrease) in provisionsCash generated from operations	(0.401,982.34	2.172,035.71
Direct taxes paid (net of refunds)Net cash flow from operating activities(A)	1537.94'1,444.40	(425 3T1,610.34
Cash now from investing activities
Paymenl ror Purchase of PP&E, investment properties and capital work in progress (including capital advances)	(22.97)	(28.99)
Payment for purchase of intang ible assets (including advanc es paid for purchase / production of movies )	(210.52 )	(629.48)
Payment for purchase of financial instruments (current investments)	(1, 155.00)	( 1,554.00)
Proceeds from sale of financial instruments (current investments)	828.73	1,704.89
Proceeds from sale of Property, Plant & Equipment ( PP&E)	4.44	0.56
Proceeds from maturity of Non current investments	60.48	8.21
Payment for purchase of Non - current investments	(492.86)	(50.00)
Term deposits placed with banks during the year	(42 1.99)	(125.87)
Tem1 deposits refunded from banks during the year	125.87	95.86
Interest received (finance income)	56.82	35.56
Dividend income / Net gain on sale of current investments	85.15	175.81
Net c.ash tused in) investing activities(B)	(1,141.85)	(367t5)

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¢ SuN TV NETWORK LIMITED

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

3 6 7 8 9 Sun TV Network Limited Regd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chcnnai - 600 028 CIN : L22110TNl985PLC012491 Email:tvinfo@s unnctwork.in;w ww.suntv.in Rs in crores Cash flow from financing activities Proceeds from Short term borrowings Repayment of Short term borrowings Repayment of lease liabilities Interim Dividend Paid Tax on interim dividend paid Interest paid (finance cost) Net cash (used in) financi ng activities Particulars Exchange differences on translation of foreign currency cash and cash equivalents Net (decrease)/ increase in cash and cash equh·alents Opening balance of cash and cash equivalents Closing balance of cash and cash equivalents (C) (D) (A+ B+C+D) [ F March 31, 2021 March 31, 2020 Audited Audited 37.00 280.21 (37.00) (280.21) (30.12) (28.41) (197.0.J) (985.21) - (202.51) ( 16.33) (0.65) (243.49) (1,216.78) (0.~6) 1.67 58.80 27.78 402.48 374.70 461.28 402.48 The above standalone financial results for the quarter and year ended March 31, 2021 have been reviewed by the Audit Committee and approved by the Board in their meeting held on June 11, 2021. The Statutory auditors, Deloitte Haskins & Sells LLP has given an unmodified review conclusion on the financial results for the quarter ended March 31. 2021 and expressed an unmodified audit opinion on the financial results for the year ended March 31, 2021. Based on internal reporting provided to the Chief Operating Decision Maker, "Media and Entertainment" is the only reportable segmem for the Company. During the year ended March 31. 2021, the Board of Directors have declared an interim dividend ofRs .5.00 per share ( 100%) at their Board meeting held on February 8. 20} I. The results for the year ended March 31. 2021 and quarter ended December 31, 2020 includes income from the Company's IPL franchise "SunRisers Hyderabad" for season 2020 of Rs.254.60 crores and Rs.209.07 crores respectively (Year ended March 31, 2020 for season 2019 (Partial) of Rs. 244.40 crores) and corresponding costs of Rs. 161.81 crores and Rs. l 29.7 l crores respectively (Year ended March 31, 2020 for season 2019 (partial) of Rs. 139.29 crores). "Taxes relating to earlier years" represents income tax determined by the Income Tax Authorities based on the Company's application under the Direct Tax Vivad se Vishwas Act. 2020, in respect of pending income tax litigations pertaining to Financial years 2003-04 to 20 16-17 amounting to Rs.236.66 crores and provision created on similar basis for the subsequent financial years 2017-18 to 2019-20 amounting to Rs.136.98 crores and recorded by the Company in the current financial )•ear. This has been done inter alia to reduce pending income tax litigation in respect of the claims under Income Tax Act,1961 and de-risking the company's financial position, notwithstanding the fact that the Company's position have consistently been upheld in the past by Appellate Authorities. The outbreak of COVID - 19 pandemic and consequent lock down has impacted the regular business operations of the Company. The results for the quaner and year ended March 31, 2021 are therefore not comparable with those for the earlier periods presented. The Company has assessed the impact ol the pandemic on its financial results I position based on the internal and external information, to the extent known and available up to the date of approval of these financial results and based on the current estimates. the Company expects no further adjustments to 1hc carrying amounts as at March 31, 20:! I ol the investments, intangible assets, receivables and other financial assets. This assessment and the outcome of the pandemic as regards the aforesaid matters is highly dependent on the circumstances I developments, as they evolve in the subsequent periods. The figures for the quaners ended March 31, 2021 and March 31, 2020 are the balancing figures between the audited figures for the years ended March 31, 2021 and March 31, 2020 and the unaudited year-to-date figures for the nine months ended December 31. 2020 and December 31, 2019. respectively. which were subject to limited review by the Statutory Auditors. Place: Chennai Date : .lune 11, 2021 For and on behalf of the Board of Directors R. Mahesh Kumar Managing Director

Page 4 of 4

Deloitte Haskins & Sells LLP Chartered Account ants

ASV N Raman a Tow er 52, Venkatna rayana Road T. Nagar, Chennai • 600 017 Indi a

Tel: +91 (044) 6688 5000 Fax: +91 (044) 6688 5050

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SUN TV NETWORK LIMITED

Opinion and Conclusion

We have (a} audited the Standalone Financial Results for the year ended March 31, 2021 and (b} reviewed the Standa lone Financial Results for the quarter ended March 31, 2021 (refer 'Other Matters' section below), which were subject to limited review by us, both included in the accompanying "Statement of Financial Results for the Quarter and Year Ended March 31, 2021" of Sun TV Network Limited ("the Company"), ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

(a) Opinion on Annual Financial Results

In our opinion and to the best of our information and according to the explanations given to us, the Standalone Financial Results for the year ended March 31, 2021:

• i. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the year then ended.

(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2021

With respect to the Standalone Financial Results for the quarter ended March 31, 2021, based on our review conducted as stated in paragraph (b) of Auditor's Responsibilities section below, nothing has come to our attention that causes us to believe that the Standalone Financial Results for the quarter ended March 31, 2021, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (List ing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2021

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2021 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Statement

This Statement which includes the Standalone Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Standalone Financial Results for the year ended March 31, 2021 has been compiled from the related audited standalone financial statements. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended March 31, 2021 that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentatlon of the Standalone Financial Results that·give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financlal Results, the B0ard of Directors are responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the financlal reporting process of the Company.

Auditor's Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the 'Standalone Financial Results for the year ended March 31, 2021 as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, lndividually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controL
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the listing Regulations.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention ih our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our concluslons are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Standalone F!nanclal Results, including the disclosures, and whether the Annual Standalone Financial Results represent the underlying transactions and events in a manner that achieves falr presentation.
• Obtain sufficient appropriate audlt evidence regarding the Annual Standalone Financial Results of the Company to express an opinion on the Annual Standalone Financial Results.

Materiality is the magnitude of misstatements in the Annual Standalone Financial Results that, individually or in aggregate, makes lt probable that the economic decisions of a reasonably knowledgeable user of the Annual Standalone Financial Results may be influenced. We consider quantitatiVi;! materiality and qualitative factors in ([) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Standalone Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compHed with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2021

We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2021 in accordance with the Standard on Review Engagements (~SRE") 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', lssue'd by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Other Matters

• The Statement includes the results for the Quarters ended March 31, 2021 and March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current and previous financial year respective ly which were subject to limited review by us. Our report on the Statement is not modified in respect of th is matte r.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W-100018)

~~, \__CAL~'-/

Ananthi Amarnath (Partner) (Membership No. 209252) UDIN: 21209252AAAAGI7392

Place: Chennai Date: 11 June 2021

SuN TV NETWORK LIMITED

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

	Regd office: Murasoli Maran Towers, 73, MRC Nagar Main Road , MRC Nagar, Chennai - 600 028	Sun TV Network Limited				I~
	CIN: L22110TNl98SPLC012491	Ema il: tvinfo @sunnetwork.in; www.sunt,·. in				I!~
	STATEMENT OF CONSOL IDATED PINANCIAL RESULTS FOR THE QUARTER AND 'EAR ENDED .\tARCH 31, 2021				(Ruoecs in crores exce ll EPS and unless otherwise stated)
	Quarter Ended					Year Ended
S.No	Particulars	March JI, 2021	December 31,2020	March JI, 2020	March JI , 2021	M•rch 31,2020
		AuditedRefer Note 9	Unaudited	AuditedRefer Note 9	Audited	Audi1cd
I	Revenue from Operations	802.SS	994 .14	7.58. 13	3.176.89	3,5 19 .85
2	Other I ncorne	76.97	65.2.5	60.69	306 .84	260.6.5
J	Tomi Income (1+2)	879.52	1,059.39	818.82	3,483.73	3,780.50
4	Expenses
	(a) Operating expenses	118.27	127.0 1	98.16	420 . 19	.526.71
	(b) IPL Franchise Fees	-	41.39		.51.07	46.3 1
	(c) Employee benefits expense	74.00	7454	80.56	307.12	323 .22
	(d) Depreciation and Amonisa tion expense	81.97	74.15	237 .77	403.92	700.20
	(e) Finance Costs	18.40	2.69	3. 11	26.86	12.7.5
	(f) Other Expenses	59.38	143.13	73.67	327. 13	347.69
	Total Expenses	352.02	462.91	493.27	1,536.29	1,956.88
5	Profit Before Share of profit from Joint Venture and Tax (3 - 4)	S27.50	596.48	325.55	1,947.44	1,823.62
6	Share of Profit / (loss) from Joint Venture	1.5.88	(0.46)	(420)	(6A2)	(4. 17)
7	Profit Before lax (5 + 6)	543.38	596.02	321.35	1,941.02	1,819.45
8	Tax Expenses
	(a) Current tax	108.7 1	147,14	98. 10	465.04	454 ,Jl
	(b)Taxes relating to earl ier years	373.64			373.64
	(c) Deferred tax	(426 .83)	3.47	(2 1.98)	(422.90)415.78	(20.36)433.96
	Tota l	55.52	150.61	76.12
9	Pr ofit after ta x (7 - 8)Profit for the period attributable to	487.86	445.41	245.23	1,525.H	1,385.49
	-Owners o f the Compan y	487.46	44554	245.24	1,525.03	1,385 . 16
	-Non Controlling i11teres1	0.40	(0. 13)	(0.0 1)	0.21	0.33
10	Other Comprehensive IncomeItems not to be r«lassified to profit or loss in subsequent J>triods:
	Remeasurement gains and (losses) on defined bcncfi1 obligations (nel of taxes)	1.56	(0.01)	0.95	1.66	0.04
	Share of other comprehensive income of equity accounted investees	(0. 18)	O.o3	0.25	(0.05)	0. 14
	Other Comprehensive Income for the period a1tribu1able 10:
	- Owners o f the Compan y• Non• Controlling Interest	1.350.03	0.02(0.00)	1.180.02	1.580.03	0. 180.00
II	Total Comprehensive income for the period (9 + 10)	489.24	445.43	246.43	1,526.85	1,385.67
	Total Compr ehensive Income for o,e period anributable to:
	- Owne rs of the Company	488.81	445.56	246 .42	1,526.61	1,385.34
	· Non- Controlling Interest	0.43	(0.13)	0.lll	0.24	(UJ
12	Paid-up equity share capita) (Face va.lue o f Rs.5.00 /- each)	197.04	197.04	197.04	197.04	197.04
13	Reserves exclud ing revaluation reserves ( i.e . Other Equity)				6,856.67	5,527.07
14	Earnings per share ( Face value ofRs. 5.00 /.e ach ). Basic. and Diluted -i n Rs.	12.38	11.30	6.22	38.70	35. 16

Page I of 4

i) SuN TV NETWORK LIMITED

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in CIN.: L22110TN1985PLC012491

	Regd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar , Chennai - 600 028CIN: L22110TNJ98SPLCOl2491 Email: h•info@sunnetwork.in; www.sunt\'.in		Q,!!!!!'q
Notes
I	CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
		As at March JI, 2021 As at March JI, 2020	Rs in crores
S.No	Particulars	Audited	Audited
I	ASSETSNon - Current assets
	(a) Property, Plant and Equipment	599.12	650 .89
	(b) Capital work-in-progress	146.32	66.30
	( c) Investment Properties	7.79	8.28
	(d) Goodwill	4.80	4.80
	(e) Other intangible assets	263.76	387.71
	(!) Right to use assets	70.06	93 .71
	(g) Investment in Subsidiary / Joint Ventures	435.15	44 1.62
	(h) Financial Assets
	• Investments	657.32	27749
	• Other financial assets	47.09	1361
	(i) Non current tax assets (net)	2.14	77.15
	(i) Deferred tax assets (net)	338 .75	0.99
	l(k) Other non current assets	166 .06	210.64
	Total Non - current assets	2,738.36	2,2J3.19
2	Current assets
	(a) Financial assets
	- Investments	2,41 1.57	1,972.92
	• Trade receivables	1,433.94	1.367.22
	- Cash and Cash equivalents	468.87	405.80
	- Bank balances other than cash and cash equivalents	602 .97	297.37187. 13
	- Other financial assets	252.6638.06	43.93
	(bl Other current assetsTotal current assets	5,208.07	4,274.37
	TOTALASSETS (I+ 2\	7,946.43	6,507.56
	EQUITY AND LIABILITIES
I	Equity
	(a) Equity Share Capital	197.04	197.04
	(b) Other equity	6,856 .67	5.527.07
	(c) Equity attributable to the owners of Company	7,053.71	5,72-1.11
	(d) Non Controlline interest	4.96	4.75
	Total Eauity	7,058.67	S,728.86
2	Liabilities
	Non Current liabilities
	(a) Financial liabilities
	- Trade payables
	• Other financial liabilities	55.35	77.54
	(b) Government grams	3.33	3.89
	(c) Deferred tax liabilities (net)		85.14
	d) Provisions	1.14	1.11
	Total Non - current liabilities	59.82	167.68
3	Current liabilities
	(a) Financial liabilities
	• Trade payables	273.78	316.69
	• Other current financial liabilities	222.77	221.22
	(b) Government grants	0. 56	0.64
	(c) Short term provisions	240.39	21.09
	(d) Other current liabilities	90.44	51.38
	Total current liabilities	827.94	611.02
	TOTAL EOUITY AND LIABILITIES II + 2+ 3)	7,946.43	6,507.56

Page 2 of4

SuN TV NETWORK LIMITED

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

Sun TV Networ k Limit ed Reed office: Mura soli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Che nn ai • 600 028 · CIN ; L22 110TNl985PL C012491 Email:tvi nfo@sunn etwork .in; www.su ntv.in 2. CO NSOLIDATED STATE MENT OF CAS H FLO WS FOR TH E YEA R EN DED MARC H 31, 2021 Rs in crores Parti culars Ma rch 3 1, 2021 Ma rch 31, 20 20 Cash now from opera ting activ ities Net profit befor e ta x and exceptional item s Adjus1n,cnts to reconcile profit before tax to net cash flows: Depreciation on propeny, plant and equipment and investment properties Amon isation ofi nwngible assets ( Profit ) /Loss on sale of property. plant and cquipmen1. net Translation loss/ (gain) on monetary assets and liabilities lmpainnent allowance/ ( wrinen back ) (allowance for bad and doubtful debts / movie advance and other advances) Provision for litigations and claims Bad debts wrinen off Liabilities/ provisions no longer required written back Interest income Deferral of DTH Revenue Export incentive income Dividend income / Net gain on sale of current inveshnents Fair value gain on financial instruments at fair value through profit or loss Finance cost Operating 1>rofit before wo rking cap ital changes Movements in working capital : (Increase)/ Decrease in trade receivables (Increase)/ Decrease in inventories (Increase)/ Decrease in other current assets/other financial assets (Increase)/ Decrease in loans and ad vane.cs Increase/ (Decrease) in trade payables and other liabilities/other financial liabiUities Increase I (Decrease) in provisions Cash generated from operations Direct ta,es paid (net ofr efunds) Ntt cash now from operating activities Cash now from in, ·esting activiti es (A) Payment for Purchase of PP&E, investment properties and capital work in progress (including capital advances) Payment for purchase of intangible assets ( including advances paid for purchcase / production of mo,,es) Payment for purchase of financial instnimcnts (cun·ent investments) Proceeds from sale of financial instruments (current investments) Proceeds from sale of Propcr1y, plant and equipment (PP&E) Proceeds from maturity of Non current investments Payment for purchase of Non current investments Tenn deposits placed with banks during the year Tenn deposits refunded from banks during the year Interest received (finance income) Dividend income ! Net gain on sale of current investments Net cash (used in) investing activities (8 \ Audited Audited 1,947.44 1,82 3.62 104. 13 97.05 299.79 603.16 0.48 0.16 7.3 1 (9.42) 48.70 330 1 (0.66) 1.33 5.13 8.23 (37.8 1 l (0.93) (91.35 ) (54.56) 6.29 11.09 (27.00J (0.78) (85,15) ( 176.0 1) (60.80 ) ( 10.47) 26.86 12.75 2,143. 36 2,338.23 ( 126.17 ) (266 .59) 0.24 (37.()4) ( 14.95) 3.98 11.23 18.68 18.32 (0.42 2.51 2,00 2.39 2,088.99 1538.17) (433.37) 1,464.2 2 1,655.62 (23.45 ) (30.42) (210.53 ) (629 .64) ( 1,157.50) ( 1,554.20) 828.73 1,704.89 4.57 0.62 60.48 12.17 (492 .86) (50.00) (610 .95) (296.90) 296.90 213.77 68.03 45.68 85.15 176.01 (1,151.431 (408.021

Page 3 of 4

{) SuN TV NETWORK LIMITED

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in CIN.: L22110TN1985PLC012491

			Rs in crores
	Particu lars		March 31, 2021	March 31, 2020
			Audited	Audited
	Cash flow from financing activities
	Proceeds from Shon term borrowings		37.00	280.21
	Repayment of Shon term borrowings		(3700 )	(280 .21)
	Rcpaymem of lease liabilities		(35.92)	(33.98)
	Interim Dividend Paid		( 197.04)	(9852 1)
	Tax on interim dividend paid			(202.51)
	Interest paid (finance cost)		( 16.50)	(0.67)
	Net cash (used in) financing activities	(C)	1249.46-,	( I 222.37
	Exchange differences on translation of foreign currency cash and cash equivalents	(D)	(026 )	1.67
	Net (decrease)/ increase in cash and cash equ ivalents	(A+B+C+D)	63.07	26.90
	Opening balance of cash a nd cash equivalents	E	405.80	378.90
	Closing balance of cash and cash equ ivalents	F	468.87	405.80
3456	The above consolidated financial results for the quarter and year ended March 31, 202 I have been reviewed by the Audit Commillee and approved by the Boardin their meeting held on June 11, 202 1. The Statutory auditors, Deloitte Haskins & Sells LLP has given an unmodified review conclusion on the financial resultsfor the quarter ended March 31, 2021 and expressed an unmodified audit opinion on the financial results for the year ended March 3 1, 2021.Based on internal reporting provided to the Chief Operating Decision Maker. ''Media and Entertainment" is the only reportable segment for the Group.During the year ended March 31, 2021, the Board of Directors have declared an interim dividend of Rs.5.00 per share ( 100%) at their Board meeting held onFebruary 8. 2021.The results for the year ended March 31. 2021 and quarter ended December 31, 2020 includes income from the Company's IPL franchise "SunRisers Hyderabad"for season 2020 of Rs.254.60 crores and Rs.209.07 crores respectively (Year ended March 31, 2020 for season 2019 (Partial) of Rs. 244.40 crores) and
7	corresponding costs of Rs.161.81 crores and Rs.129.71 crores respectively (Year ended March 31, 2020 for season 2019 (partial) of Rs. 139.29 crores)."Taxes relating to earlier }'ears" represents income tax determined by the Income Tax Authorities based on the Holding Company's application under the DirectTax Vivad se Vishwas Act, 2020. in respect of pending income tax litigations pertaining to Financial years 2003-04 to 2016-17 amounting to Rs.236.66 crores andprovision create.do n similar basis for the subsequent financial years 2017-18 to 2019-20 amounting to Rs. 136.98 crores and recorded by the Holding Companyin the current financial year. This has been done inter alia to reduce pending income tax litigations in respect of the claims under Income Tax Act, 1961 and derisking the Holding Company's financial position, notwithstanding the fact 1hat the Holding Company's position have consistently been upheld in the past byAppellate Authorities.

• ended March 31, 2021 are therefore not comparable with those for the earlier periods presented. The Group has assessed the impact of the pandemic on its financial results/ position based on the internal and external information, to the extent known and available up to the date of approval or these financial results and based on the current estimates, the Group expects no funher adjustments to the carrying amounts as at March 31, 2021 of the investments, intangible assets, receivables and other financial assets. This assessment and the outcome of the pandemic as regards the aforesaid mailers is highly dependent on the circumstances / developments.as they evolve in the subsequent periods.
• 9 The figures for the quaners ended March 31, 2021 and March 31, 2020 are th.e balancing figures between the audit~d figures for the years ended March 31, 2021 and March 31, 2020 and the unaudited year-to-date figures for the nine months ended December 31. 2020 and December 31, 2019, respectively, which were subject 10 limited review by the Statutory Auditors.

Place: Chennai Date : .June 11, 2021 For and on behalf of the Board of Directors () .J_/L d ~~ .J-_ ·'-> - R, l\lahesh Kuma r Managing Director

Page4 of4

Deloitte Haskins & Sells LLP Chartered Accountants

ASV N Ramana Tower 52, Venkatnarayana Road T. Nagar, Chennai • 500 017 India

Tel: +91 (044) 6688 5000 Fax: +91 (044) 6688 SOSO

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SUN TV NETWORK LIMITED

Opinion and Coliclusion

We have (a) audited the Consolidated Financial Results for the year ended March 31, 2021 and (b) reviewed the Consolidated Financial Results for the quarter ended March 31, 2021 (refer 'other Matters' section below), which were subject to limited review by us, both included in the accompanying "Statement of Financial Results for the Quarter and Year Ended March 31, 2021" of SUN TV NETWORK UMITED ("the Parent") and its subsidiary (the Parent and its subsidiary together referred to as "the Group"), and its share of the net loss after tax and total comprehensive loss of !ts joint venture for the quarter and year ended March 31, 2021, ("the Statement") being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) ReguJations, 2015, as amended ("the Listing Regulations").

(a) Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of the other auditors on separate financJal statements of the subsidiary and joint venture referred to in Other Matters section below, the Consolidated Financial Results for the year ended March 31, 2021:

• I. includes the results of the fol!owlng entities:
  • a. Subsidiary Ka! Radio Limited
  • b. Joint Venture South Asia FM Limited along with their joint venture and associate companies.
• ii. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• iii, gives a true and fair view in conformity with the recognition and measurement principles !aid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated net profit and consolidated total comprehensive income and other financial information of the Group for the year ended March 31, 2021.

(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2021

With respect to the Consolidated Financial Results for the quarter ended March 31, 2021, based on our review conducted and procedures performed as stated in paragraph (b) of Auditor's Responsibilitles section below and based on the consideration of the review reports of other auditors referred to ln other Matters section below, nothing has come to our attention that causes us to bel!eve that the Consolidated Financial Results for the quarter ended March 31, 2021, prepared in accordance· with the recognition and measurement principles laid down In the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed ·in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that !t contains any material misstatement,

Basis for Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2021

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143{10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Stan,dards, are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Group and joint venture in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the !CAI") together with the ethlcal requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31, 2021 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Statement

This Statement, which includes the Consolidated Financial Results is the responsibility of the Parent's Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2021, has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2021 that give a true and fair view of the consolidated net profit and consolidated other comprehensive incom·e and other financial information of the Group including its joint venture in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 ·of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

The respective Board of Directors of the companies included in the Group and of its joint venture are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and its joint venture and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ens\Jring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement 1whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Parent, as aforesaid.

In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group and of its joint venture are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its jointly venture are responsible for overseeing the financial reporting process of the Group and of Its joint venture.

Auditor's Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2021 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opln!on. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to -influence the economic decisions of users taken on the basis of this Consolidated Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• ,• Identify and assess the risks of material misstatement of the Annual Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, i'!S fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its joint venture to continue as a going concern. If we conclude that a material uncertalnty exists, we are required to draw attention in our auditor's report to the related disclosures in the Consolidated F!nanclal Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its joint venture to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the entities within the Group and its joint venture to express an opinion on the Annual Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of fiilancial information of such entities included in the Annual Consolidated Financial Results of which we are the Independent auditors. For the other entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

Materiality is the magnitude of misstatements in the Annual Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating_ the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Consolidated financial Results.

We communicate with those charged with governance of the Parent and such other entities included in the Consolidated Financial Results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings includin_g any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2021

We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2021 in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of a!I significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

The Statement includes the results of the entities as listed under paragraph (a){i) of Opinion and Conclusion section above.

Other Matters

• The Statement includes the results for the Quarters ended March 31, 2021 and March 31,2020 being the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current and previous financial year respectively which were subject to limited review by us. Our report is not modified in respect of this matter.

• We did not audit the financial statements of subsidiary included in the consolidated financial results, whose financial statements reflect total assets of Rs. 443. 93 Crores as at March 31, 2021 and tota l revenues of Rs. 96.54 Crores for the year ended March 31, 2021, total net profit alter tax of Rs. 11.39 Crores for the year ended March 31, 2021 and total comprehensive income of Rs. 11.40 Crores for the year ended March 31, 2021 and cash inflows (net) of Rs. 4.26 Crores for the year ended March 31, 2021, as considered in the Statement . The consolidated financial results also include the Group's share of loss alte r tax of Rs. 6.42 Crores for the year ended March 31, 2021 and Total comprehensive loss of Rs. 6.46 Crores for the year ended March 31, 2021, as considered in the Statement, in respect of joint venture whose financial statements have not been audited by us. These financial statements have been audited, by other auditors whose reports have been furnished to us by the Management and our opinion and conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the subsidiary and joint venture is based solely on the reports of the other auditors and the procedures performed by us as stated under Auditor's Responsibi lities section above.

Our report on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W -100018)

s:4 l., '-.ffi,,~ /

Ananthi Amarnath (Partner) (Membership No. 209252) UDIN: 2120925 2AAAAGJ2794

Place: Chennai Date: 11 June 2021

SV:N 'Io/ :Networ{ £imitetf

<&minos (iefease for tlie quarter anti Pinancia( year

entfetf 31st fM.arcfi, 2021

(J'ro_fit after~tlie yearetufetf Jtst 9darcfz 2021 up -11% @qq.1,520.41 crs.

(profit after~ortlie quarterenaeaJJst !M.arcli 2021 up -80%@ <Jg.449.88 crs.

~enues up - 6 %fortlie quarteretufetf 31st 9darcfi 2021.

)4.tfvertisement <R.fvenues up - 8 % for tlie quarter etufetf 31st 9,1.arcli 2021.

Su6scriptwn ~ up - 7%fortlie quarter ant! up -10 %fortlie yearetufetf31st

!M.arcli 2021.

Jtighfioli,ts :

On a standalone 6asis:

• •!• Revenues for the year ended 31st March '21, at Rs.3,116.59 crs;
• •!• Revenues up 6% for the quarter ended 3JS' March 2021 at Rs. 781.99 crs.
• •!• Advertisement Revenues for the quarter ended 3J51 March '21 up -8 % at Rs.314.87 crs;
• •!• Subscription Revenues for the year ended 31st March '21, up-10 % at Rs.1,721.48 crs;
• •!• EBITDA for the quarter up -9 % at Rs.546. 79 crs.
• •!• Profit after Tax for the quarterup - 80 % at Rs.449.88 crs and for the year ended 31st March'21, up-11% at Rs.1,520.41 crs;

On a consoCidatetf 6asis:

• •!• Revenues for the year ended 31st March '21, at Rs.3,176.89 crs;
• •!• EBITDAfor the year ended 31st March '21, at Rs. 2,071.38 crs;
• •!• Profit after Tax for the year ended 3JS1March '21, at Rs.1,525 .24 crs;

SVN 'Io/ Networ( £imitetf

Chennai, India, June 11, 2021: Sun TV Network Limited, one of the largest Television Broadcasters in India, operates Satellite Television Channels across five languages of Tamil, Telugu,Kannada,Malayalam and Bangla, airs FM radio stations across India and owns the SunRisers Hyderabad Cricket Franchise of the Indian Premier League and the Digital OTT Platform Sun NXT.

FOR THE QUARTER ENDED 31sT MARCH, 2021 , the Revenues for the quarter were up by --6 % at Rs.781.99 crores as against Rs.735. I 6 crores for the corresponding quarter ended 31st March, 2020. The Subscription revenues for the quarter was up by -7 % at Rs.428.12 crores as against Rs.398. 79 crores for the corresponding quarter ended 31st March, 2020. EBITDA for the quarter ended 3 pt March 2021 was up -9% at Rs.546.79 crores as against Rs.503.51 crores for the previous quarter ended 31st March 2020. The Profit after taxes for the current quarter stood higher by -80% to Rs.449.88 crores as against Rs.250.00 crs in the correspondi ng quarter ended 31st March, 2020.

FOR THE YEAR ENDED 318T MARCH, 2021, the Standalone Revenues for the year was at Rs.3, 116.59 crores as against Rs.3,404.42 crores for the corresponding year ended 31st March, 2020. The Advertisement revenues for the year was at Rs.994.03 crores as against Rs.1,336.9 I crores for the previous year ended 31st March, 2020. The Subscription revenues for the year was up -10 % at Rs.1,721.48 crores, as against Rs.1,562.23 crores for the previous year ended 3 pt March, 2020. EBITDA for the year ended 3l51 March 2021 was at Rs.2,067.40 crores as against Rs. 2.236.06 crores for the previous year ended 31st March 2020. The Profit after taxes rose by -11 % to Rs. 1,520.4 1 crores for the year ended 31st March, 2021 as against Rs.1,371.83 crores for the previous year ended 31st March, 2020.

FOR THE YEAR ENDED 31 ST MARCH, 2021, the Consolidated Revenues was at Rs.3, 176. 79 crores as aga inst Rs.3,519 .85 crores for the corresponding year ended 31st March, 2020. EBITDA for the year ended 31st March 2021 was at Rs.2,071.38 crores as against Rs. 2,275.92 crores for the previous year ended 31st March 2020. The Profit after taxes (after accounting of share from joint venture) was at Rs.1,525.24 crores for the year ended 3 i5t March, 2021 as against Rs.1,385.49 crores for the previous year ended 31st March, 2020.

* * *

Sun TV Network Limited ~ Regd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028 CIN : L22110TNI985PLCOl2491 Email : tvinf o@sunnetwork.in; M\w.suntv.ln

Extract of consolidated financial results for the quarter and year ended Marchi 31, 2021

				(Rupees in crores except EPS and unless otherwise stated)
			Quarter ended	Year Ended
Sno	Particulars	March 31, 2021	December 31,2020	March 31, 2020	March 31,2021	March 31, 2020
		AuditedRefer Note - 4	Unaudited	AuditedRefer Note - 4	Audited	Audited
I	Income from Operations ( net )	802.55	994.14	758. 13	3, 176.89	3.5 19.85
2	Net Profit before tax	543.38	596.02	321.35	1,94 1.02	1.819.45
3	Net Profit after tax	487 .86	445.41	245.23	1,525.24	1,385.49
4	Total Comprehensive income	489 .24	445.43	246.43	1.526.85	1,385.67
5	Equity share capital (Face value of Rs.5.00 /- each)	197 04	197.04	197.04	197.04	19704
6	Reserves exc luding revalua tion reserves ( i.e. Other Equity)				6,856.67	5,527.07
7	Earnings Per Share ( Face value of Rs.5.00 /-each)Basic and Diluted - in Rs.	12.38	11.30	6.22	38.70	35.16
			Not annualised

Notes:

I Additional information on standalone financial results for the quarter and year ended March 31, 2021

			Quarter ended	Year Ended
Sno	Particulars	March 31, 20 21	December 3 I ,2020	March 31, 2020	March 3 1,2021	March 31. 2020
		AuditedRefer Note - 4	Unaudited	AuditedRefer Note - 4	Audited	Audited
I	I nc-ome from Operation ( net )	781.99	972.34	735. 16	3, 116.59	3,404.42
2	Net Profit before tax	503.58	592.62	325.85	1,934.8 1	1,797.88
3	Net Profit after tax	449 .88	441.82	250.00	1,520.4 1	1,371.83
4	Total Comprehensive income	451.86	441.67	250.04	1,521.94	1,371.29

2 The above is an extract of the detailed forma t of quarterly and year ended financial results filed with the Stock Exchange under Regulation 33 of the SEBI ( Listing Obl igations and Disclosure Requirements) Regu lations, 2015. The full format of the said financial results are available in the websites of the Company, National Stock Exchange of India Limited and BSE Limited at www.suntv.in, www.nseindia.com and www.bseindia.com respectively.

3 The outbreak of COVID -19 pandem ic and consequent lock down has impac ted the regular business operat ions of the Group . The results for the quaner and year ended March 3 1, 202 1 are therefore not compa rable with those for the earlie r periods presented . The Group has assessed the impact of the pandemic on its financia l results / p0sition based on the internal and external information, to the extent known and available up to the date of approval of these financial results and based on the current estima tes, the Group expects no further adjustments to the carrying amounts as at March 31, 2021 01 the investments, intangible assets, receivab les and other financia l assets. This assessment and the outcome of the pandemic as regards the aforesaid matters is highly dependent on the circumsta nces / developments, as they evo lve in the subsequent periods.

4 The figures for the quarters ended March 31, 2021 and March 31, 2020 are the balancing figures between the aud ited figures for the years ended March 31, 202 1 and March 31, 2020 and the unaudited year-to-date figures for the nine months ended December 3 1, 2020 and Decembe r 3 1, 20 19, respectively, which were subjec t to limited review by the Statutory Auditors.

For and on behalf of the Board of Directors

sd/- Place : Chennai R. Mahesh Kumar Date : June II , 2021 Managing Director