tips industries limited
tips inds. : director reports, company results of tips inds. - ndtv
tips industries ltd. has declared 11 dividends since aug. 16, 2001 .
you can view full text of the director' s report for tips industries ltd .
toyam industries limited is launching its nutraceuticals product chain as part of its integrated sports league platform .
in the past 12 months, tips industries ltd. has declared an equity dividend amounting to rs 1. 00 per share .
the increasing numbers of smartphone users are fueling the mobile gaming market in india. toyam industries limited is launching mobile, pc and console based combat games .
see fii, dii, mf, institutional, promoter and individuals share holding changes, pledges, historical increases and decreases of shareholding for tips industries ltd. for latest quarter in a single page .
tips industries limited (tips) is one of the most respected and renowned entertainment companies with presence in music, film production and distribution. mr. kumar taurani and mr. ramesh taurani, co - founder of tips, are well known names in the indian m & e; space with a proven track record of producing films that have a wholesome entertainment for the entire family. tips also has one of the largest and diversified music library with a collection of over 25, 000 songs across all genres and major languages. tips owns the race franchise, one of the most successful mainstream hindi film franchise in recent years with a proven success at box office. the company is also a leading producer of punjabi films in the country .
the company was originally incorporated on 25th january, 1985 in the name of chetram balkrishan limited with registrar of companies, new delhi under the provisions of the companies act, 1956. the company has changed its name to m / s ojas asset reconstruction company limited vide roc certificate dated 10th day of november, 2009. subsequently, the name of the company has been changed from ojas asset reconstruction company limited to toyam industries limited vide fresh roc certificate dated 20th december, 2016 with the change in main object from securitization and asset reconstruction to general business and trading activities. further, in the board meeting dated 28th april, 2017 it was resolved to expand and diversify the business of the company in all kinds of activities related to sports, fitness, fashion, films, entertainment or any other genre .
toyam industries is launching k1l merchandise through direct selling in the first and second year operations, and plans to start l & m third year onwards .
public relation public relations pave the path to skilled communication of ideas to identify and interpret policies and programmes of organizations with the aim to form a bridge of understanding and goodwill between the organizations and their public. communicate to us: pr @ urltoken careers with us toyam industries limited is a company growing at a very fast pace! we recognize and appreciate talented individuals who want to grow with us. send us your resumes: hr @ urltoken
the mission of toyam industries limited is to create' role models' from among the fighters in the kumite 1 league to seep into the minds of the youth through a spectrum of related business models like, kumite 1 league, k1l nutraceuticals, k1l fight club, k1l arenas, k1l sports cafés, k1l merchandise & k1l gaming through world' s first integrated sports league platform. our vision is to expand into middle east and eventually take our footprints to europe and the usa .
in the mainstream hindi films, the rom - com film
loveshhuda
, directed by vaibhav misra, was distributed by tips. the film stars girish kumar and navneet kaur dhillon in leading roles. it was released on february 19, 2016 .
tips firmly believes in and has consistently practiced progressive hr values. the company inculcates the values of transparency, professionalism and accountability in its operations to generate long - term benefits for its shareholders, customers, employees and society alike. at tips, there is consistent emphasis on each individual'' s sense of responsibility, while simultaneously as part of a team. this results in our people'' s ability to work in perfect harmony despite coming from different disciplines. as of march 31, 2016, the number of employees on the payroll of the company was 53 .
mr. chetan desai has over 32 years of professional work experience as an entrepreneur and senior business manager across industries like fmcg, garment exports, media, sports management and advertising. his strengths lie in identifying growth areas in a constantly changing economic state and building them ground up to scale .
the outlook for the year 2016 continues to remain optimistic and buoyant. key agencies have forecast an above average monsoon for the year, a key to rural growth as well as consumption demand in key industries. the government'' s focus on reviving infrastructure, manufacturing and housing through long term initiatives that are all expected to aid gdp growth .
the government'' s digital india and smart city initiatives are set to exponentially increase the internet penetration in tier ii and tier iii cities, revolutionizing businesses and our way of life. india'' s estimated internet current user - base of more than 300 million (as of december 2015). one of the critical issues for such limited coverage is the poor broadband coverage in the tier ii and iii cities .
during the year 2015 - 16, tips produced and released its punjabi comedy - thriller film
ambarsariya
on march 25, 2016. the film is directed by mandeep kumar, written by dheeraj rattan and stars diljit dosanjh, monica gill, navneet kaur dhillon, lauren gottlieb and others. the film received positive response from audience and got a good opening at u. s. box office in the first weekend .
aimmaf is india’s only central government recognized non - profit federation that regulates all contests or exhibitions of unarmed combat, including the licensure and supervision of promoters, boxers, mixed martial artists, kick boxers, seconds, ring officials, managers, ring announcers and matchmakers. the conduct and regulation of unarmed combat in india are governed by aimmaf, and are further clarified by the regulations of the federation. the federation administers the state laws and regulations governing unarmed combat for the protection of the public and to ensure the health and safety of the contestants. aimmaf regulates all contests and exhibitions of unarmed combat, including licensure and supervision of promoters, boxers, mixed martial artists, kick boxers, seconds, ring officials, managers, ring announcers and matchmakers. all india mma federation is the final authority on licensing matters, having the ability to approve, deny, revoke, or suspend all licenses for unarmed combat. toyam industries limited is recognized by the aimmaf .
the industry landscape is becoming highly dynamic, with the digital segment being among the fastest growing segments. rising income and evolving lifestyles, backed by increasing digitization and higher internet usage, pave way for the tremendous scope of growth for almost all segments of this industry. these are all positive developments for tips as the company is poised to leverage its experience and expertise of providing wholesome family entertainment to the indian audiences with its hindi and punjabi films, as well as its huge repertoire of digitized music collection across the digital media .
the buy - back offer commenced on november 26, 2015 and closed on may 25, 2016. the company has bought back 10, 39, 981 equity shares from the open market using the nationwide electronic trading facilities of the bse limited ('' bse'') and national stock exchange of india limited ('' nse'') from the existing registered shareholders / beneficial owners, other than the promoters of the company. the total fund utilized in the buy - back is rs, 6, 52, 95, 997. 15 (excluding brokerage, transactional charges and taxes) which represents 96. 02% of the maximum buy - back size of rs, 6, 80, 00, 000 / - (excluding brokerage, transactional charges and taxes). the highest price at which the equity shares were bought back was rs, 70 / - per equity share while the lowest price was rs, 51 / - per equity share. the equity shares were bought back at an average price of rs, 62. 79 per equity share. these prices are based on daily reporting by the broker and exclude brokerage, transactional charges and taxes .
in today’s turbulent times, the lost young generation is saddled with loneliness, grief and confusion with no clean path or direction. the online revolution has stolen the biggest foundation ‘sports’ away from the youth. an integrated sports platform uses this key element of a high intensity mma sport as a platform in the form of the k1 league to drive across one clear message to the youth. the message of discipline, focus, resilience, patience and willpower the youth can be empowered to face any adversity or obstacle in life. we at toyam industries limited believe that every individual today is a fighter and the fight is not restricted to the ‘ring’. the philosophy of the integrated sports platform is to create ‘role models’ from among the fighters in the league through social media and publicity and seep into the minds of the youth through a spectrum of related business models like, k1 league, k1l nutraceuticals, k1l fight clubs, k1l arena (live fights & a bar setup), k1l sports café (health food based cafes), k1l merchandise (online & retail) & k1l gaming etc. we at til are starting from india, will move towards the uae and eventually will expand our footprint to europe and the usa .
ram (girish kumar) always introduces himself as badmaash, bigda hua and badtameez! being the only child of australia based billionaire couple siddharth (randhir kapoor) and ashvini (poonam dhillon), he’s not that far off the mark! sona (shruti haasan) is a lovely girl from a small village, who has been lovingly brought up by her brother raghu (sonu sood), who has worked night and day to make sure sona gets a good life. they are not very rich, but their love for each other is priceless. ram and his snobbish mother ashvini come to india to attend his cousin riya’s wedding. here he meets sona, who is riya’s childhood friend. it’s literally a clash between venus and mars! ram, the habitual flirt, gets drawn to this lovely but simple girl from the village. young love blossoms – pure and magical. but sona’s brother raghu hates the wealthy, and ram’s mother has nothing but disdain for the not - so wealthy. ram will have to face impossible challenges and sona will have to witness his hardship and humiliation. can ram and sona face the impossible odds? can their love overcome all obstacles for a happy ending? watch ramaiya vastavaiya – the colourful and extravagant entertainer replete with music, drama and action, directed by prabhudheva and produced by tips industries ltd, releasing 19th july, 2013 .
the outlook for the next year is positive. tips is confident that its music business will continue to deliver consistent growth and revenue. with better 3g coverage and the introduction of 4g services, the consumption of digital music is expected to increase significantly over the next few years. the company has always been at the forefront of leveraging latest technology and innovation in the industry. the music library of the company is one of the most exhaustive in the industry comprising of a collection of over 25, 000 songs, which are available for streaming and download across leading industry digital marketplaces like itunes and google play, as well as popular streaming platforms like saavn and gaana. the music revenue for the year 2015 - 16 was rs, 4309. 86 lakhs as compared to rs, 3221. 78 lakhs in the previous year. in the films business, the company is actively considering some exciting scripts for short listing .
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at the current share price of rs 73. 05, this results in a dividend yield of 1. 37% .
month change by - 44. 66% (crossed threshold 20 %) on 09 july, 2018
stock price (101. 30) crossed below 100 day sma (109. 26) on 20 june, 2018
stock price (101. 30) crossed below 200 day sma (104. 27) on 20 june, 2018
week change by - 27. 59% (crossed threshold 20 %) on 20 june, 2018
stock price (110. 00) crossed below 150 day sma (113. 4) on 19 june, 2018
statement of investor complaints for the quarter ended june 2018 - no. of investor complaints ...
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promoters holding marginally changed to 74. 82% as of mar 2018 qtr .
institutional investors holding marginally changed to 0. 05% as of mar 2018 qtr .
there are currently many successful leagues running in the country, but there is no league on skilled fighting. k1l is going to raise the bar with its unique concept .
k1 fight club will be india' s first fully equipped and fully functioning mma fight club and training facility .
k1 sports cafe is an mma theme based 1000 to 3000 sq. feet café, inspired by the raw mma cage effect .
“kumite” meaning fight in japanese. it is the basic philosophy behind the kumite one fight league. a full contact high intensity and thrilling sport where the fighters’ skills are tested on key attributes, like, focus, speed, balance and endurance. an exciting fusion of martial arts, karate, kung - fu, sumo, sando, ninji - tsu, wrestling, boxing, marine core & muay thai. kumite allows realistic nail - biting full contact combat under stimulated scenarios, recreated in the form of copyright sets. brace yourselves for the world’s most exciting fight league, which promises to pack a punch and raise the bar in the field of sport fighting! !
til aims at positioning k1l as a new age youth centric brand with a target audience from 16 year olds to 35 year olds. til believes that the huge potential of a youth centric brand based upon martial arts from india (the origin of martial arts through ‘kalaripayattu’) establishing a world renowned fight league and subsidiary synergized standalone related business models is the need of the hour and creates huge potential not just to the investors, but also to the community. we believe true success can only be achieved by eventually benefitting and uplifting society. til aims at slotting k1l as an aspirational yet new age brand, subtle yet vibrant and exclusive yet affordable. the target audience of k1l products are the middle class aspirational youth with an appetite to belong and identify with. the brand ideology believes in subtle branding on all its products thus emitting a sense of class and exclusivity in a world of over the top in your face branding .
til has earmarked its first league to be launched in 2019 in usa. th business models have been initiated to attract interested franchisee across the globe and pace up the brand penetration in indian subcontinent in phase 1, the uae and asian markets in phase 2 and ultimately the europe and usa markets in phase 3 .
mohamed ali budhwani is known for promoting ventures requiring bold and competent leadership, bringing years of professional experience to facilitate operations, maximize revenue and productivity, and ensure strong future growth. the board chair provides leadership to k1l as it transitions from a newly launched entity into a sustainable international brand .
sunil kumar alagh is the founder and chairman of ska advisors – a business advisory and consultancy service with an emphasis on marketing and brand management strategies. his wide range of clients include godfrey phillips india, setco automotive, elite foods, louis dreyfus, amira foods, lt foods, gsk consumer, warburg pincus, emami, vip ltd, biocon india, and mahindra group .
compliance & investor grievances cs ketan vyas company secretary & compliance officer tel: 022 - 67425111 email id: csketan @ urltoken share registrar & transfer agent purva share registry (india) pvt. ltd 9 shiv shakti industrial estate j r boricha marg, lower parel (e) mumbai – 400011. tel: 022 – 23016761 / 23018261
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the directors are pleased to present the 20th annual report on the business and operation of the company together with the audited financial statements for the financial year ended march 31, 2016. the management discussion and analysis is also included in this report .
the world economy continued its uphill climb during the year 2015. geo - political tensions and slow pace of recovery in advanced economies led to the global output rising by 2. 4 per cent in 2015, marginally lower than the 2. 6 per cent in 2014, according to world economic situation and prospects, 2016, published by united nations. other key factors affecting global growth were volatility and rebalancing in the chinese economy, drop in oil and other commodity prices, slowdown in emerging economies and slow demand pickup in major developed economies .
a major macro - economic event that had a big impact during the year was price of crude oil. this was a year in which the global economy saw a big drop in commodity prices, with crude oil dropping from a high of near usd100 per barrel in october 2014 to sub usd30 in january 2016. while this volatility rocked many oil - producing economies around the world, it was a positive development for oil - importing countries like india .
the indian economy continued to power ahead during the year, in spite of many challenges. for the second year in a row, india surpassed china to emerge as the fastest growing major economy in the world, with the gdp growth rate of 7. 6 per cent. other challenges included stressed balance sheets of major psu banks and passage of key reforms, which did affect investor sentiments. on the other hand, inflation largely remained within the desirable limits of the government, largely on account of low commodity prices, especially prices of crude oil. low crude oil prices also helped in keeping the current account deficit (cad) under control, allowing the reserve bank of india to loosen its monetary policy and lower repo rates .
the year 2015 was a seminal year in many ways for the media and entertainment (m & e ;) industry. a year that sparked excitement and renewed hope but at the same time a year in which reality came to roost. lower commodity prices, lower inflation and lower borrowing costs are likely to drive consumerism in the country benefiting the media industry. this resilience is reflected in the performance of the m & e; sector which grew by 12. 8 per cent from inr1026 billion in 2014 to inr1157 billion in 2015 .
for the m & e; industry, the year was a mixed bag. exhibitors recorded a significant growth in regional and hollywood film collections, the collection for hindi films was almost fiat as compared to previous years. this may be an indicator of audiences looking beyond bolly wood for their entertainment. bolly wood delivered a handful of films based on superior content that performed well. however, weak contents failed to attract audiences to theatres .
the box office collections for bolly wood in 2015 were low compared to 2014. in particular, only six of the leading 10 grossing films in 2015 crossed the inr1 billion mark and two crossed the inr2 billion mark as compared to 2014 wherein nine of the leading 10 grosser had collections above inr1 billion .
domestic theatricals continued to be the main source of revenue with a 73 per cent share in the total revenues for the indian film industry. in 2015, domestic theatrical revenues grew by 8. 5 per cent to reach inr101 billion on the back of an increase in overall footfalls as well as an inflationary growth in average ticket prices .
bollywood films such as'' bajrangi bhaijaan'','' tanu weds manu returns'','' piku'' and'' abcd2'' performed very well at the box office due to the strong content.'' baahubali - a bi - lingual film, created box - office history and set a new standard for filmmakers in india also, a few hollywood franchise films such as'' avengers: age of ultron'','' fast & furious 7'','' jurassic world'', which got a wider release due to dubbing and release on e - cinema screens, also showed strong performance .
the music industry continued its shift to digital consumption in 2015. the market size of the music industry is inr10. 8 billion in 2015 and is expected to grow to inr20. 6 billion by 2020. digital music now generates revenue of over 55 per cent of the overall size of the music industry in india. nearly 40 per cent of the music consumed is bolly wood, 30 per cent is regional, 10 per cent is classical and devotional and 20 per cent is the rest of the market .
the year 2015 saw the music streaming services getting strong traction and clearer business models have begun to emerge for these players. players like gaana, saavan, hungama, wynk, rdio, and guvera have started to gain increased user traffic on the back of cheaper connectivity, better smartphone penetration and acceptance of fermium models amongst consumers supplemented by high levels of customer acquisition spend. however, most users are consuming content for free and there has been strong resistance to switching to subscription models. there are an estimated 40 million active consumers in india who stream every month and out of which only about 0. 2 million customers are paid subscribers .
with the increased penetration of smart phones and internet to rural areas, there has been an increase of rural population as potential customers. as a result, most digital music companies in india are looking to develop / invest in regional content library. music rights are expected to recover on an average about 10 to 15 per cent of the production costs of a film .
the company earned total revenue including other income of rs, 7151. 45 lakhs as compare to the previous year of rs, 10380. 54 lakhs. the net profit after tax for the year stood at rs, 303. 39 lakhs as compared to rs, 269. 61 lakhs in the previous year .
the directors recommend final dividend of 10% i. e. rs, 1. 00 / - (one rupee) per share on fully paid - up equity shares of rs, 10 / - each of the company. the proposed dividend, subject to approval by the shareholder of the company at the annual general meeting, will absorb a sum of rs, 150. 68 lakhs (previous year being rs, 153. 59 lakhs) and dividend tax of rs, 30. 67 lakhs (previous year being rs, 31. 27 lakhs) .
the company transferred a sum of rs, 22. 75 lakhs to the general reserve and amount of rs, 2424. 16 lakhs is retained in the profit and loss account .
the paid up equity share capital as on march 31, 2015 was 1, 53, 58, 640. due to the buy - back of 10, 39, 981 equity shares of the company, as on date, the paid - up share capital of the company has been reduced to 1, 43, 18, 659 equity shares .
- during the year under review, the company has not issued shares with differential voting rights nor has granted any stock options or sweat equity. as on march 31, 2016, none of the directors of the company hold instruments convertible into equity shares of the company .
pursuant to regulation 34 (3) read with schedule v of the sebi (listing obligations and disclosure requirements) regulations, 2015, a separate report on corporate governance along with a certificate from the auditors on its compliance, forms part of this report .
mr. vijay agarwal, independent director of the company, has resigned from the post of directorship with effect from closure of business hours of august 14, 2015 .
the board takes this opportunity to place on record its appreciation for the support and invaluable contribution made by him during his tenure as independent director of the company .
in terms of section 152 of the companies act, 2013, mr. ramesh taurani, director of the company, is liable to retire by rotation at the ensuing annual general meeting and being eligible offers himself for re - appointment. the board recommends the same for your approval .
mr. venkitaraman subramanian iyer was appointed as an additional director (non - executive independent) of the company with effect from may 25, 2016 by the board of directors and holds office up to the date of this annual general meeting under section 161 of the companies act, 2013. the company has received requisite notice in writing from a member proposing mr. venkitaraman subramanian iyer for appointment as an independent director. the board recommends the appointment of mr. venkitaraman subramanian iyer as independent director under section 149 of the companies act, 2013 and under regulation 25 of the sebi (listing obligations and disclosure requirements) regulations, 2015 to hold office for 5 consecutive years .
( b) of sebi (listing obligations and disclosure requirements) regulations, 2015 .
mr. kumar taurani, chairman & managing director, mr. ramesh taurani, managing director, mr. ishwar gursahani, chief financial officer and ms. bijal patel, company secretary, were the key managerial personnel during the year under review .
pursuant to the provisions of the companies act, 2013 and the sebi (listing obligations and disclosure requirements) regulations, 2015, the board has carried out performance evaluation. the manner in which the evaluation has been carried out has been explained in corporate governance report .
f. that the director had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively .
the board of directors met five times during the financial year ended march 31, 2016 on may 8, 2015, august 14, 2015, november 4, 2015, november 5, 2015 and february 11, 2016. details of the board meetings and attendance of the directors are provided in the corporate governance report, which forms part of this annual report .
with a view to have a more focused attention on business and for better governance and accountability, the board has constituted the committees viz. audit committee, stakeholders'' relationship committee, nomination and remuneration committee, corporate social responsibility committee and buy - back committee .
the details with respect to the compositions, roles, terms of reference, etc. of relevant committees are provided in the corporate governance report of the company, which forms part of this annual report .
all related party transactions that were entered into during the financial year were on an arm'' s length basis, in the ordinary course of business and were in compliance with the applicable provisions of the act and the listing regulations. there were no materially significant related party transactions made by the company during the year that would have required shareholder approval under the listing regulations .
all related party transactions are placed before the audit committee for approval. prior omnibus approval of the audit committee is obtained for the transactions which are repetitive in nature. a statement of all related party transactions is placed before the audit committee for its review on a quarterly basis, specifying the nature, value and terms and conditions of the transactions .
the company has adopted a related party transactions policy. the policy, as approved by the board, is uploaded on the company'' s website .
details of the transactions with related parties are provided in the accompanying financial statements. there were no transactions during the year which would require to be reported in form aoc - 2 .
m / s. sspa & associates, chartered accountants, (firm registration no: 131069w) who are statutory auditors of the company hold office till the conclusion of the ensuing annual general meeting and are eligible for re - appointment. the consent of the auditors along with certificate under section 139 of the companies act, 2013 has been obtained from the auditors to the effect that their appointment, if made, shall be in accordance with the prescribed conditions and that they are eligible to hold the office of auditors of the company .
in the opinion of the directors, the notes to financial statement are self - explanatory and adequately explain the matters, which are dealt within the auditors'' report. in case of qualified opinion of the auditors with respect to non - recognition of deferred tax explained in note no. 33 of the notes to financial statements .
provisions of section 204 read with rules made thereunder, m / s. n. l. bhatia & associates, practicing company secretaries (c. p no. 422) had been appointed to undertake secretarial audit of the company. the report of the secretarial auditor is annexed herewith as annexure i and forms part of this report .
the said report does not contain any observation or qualification which requires any explanation or comments from the board under section 134 (3) of the companies act, 2013 .
pursuant to provisions of section 138 read with rules made there under, the board has appointed m / s. maheshwari & co. , chartered accountants (firm registration no: 105834w), as the internal auditors of the company to check the internal controls and functioning of the activities, and recommend ways of improvement. internal audit is carried out on a quarterly basis, the report is placed in the meetings of the audit committee and the board for their consideration and direction. their scope of work is as decided by the audit committee and the board of directors .
the internal financial controls with reference to financial statements as designed and implemented by the company are adequate. it has documented the procedures covering all financial and operating functions and processes. these have been designed to provide a reasonable assurance with regard to maintaining of proper accounting controls for ensuring reliability of financial reporting, monitoring of operations, protecting assets from unauthorized use or losses and compliance with regulations .
adequate internal control systems commensurate with the nature of the company'' s business and size and complexity of its operations have been recognized. internal control systems ensure reliability of financial reporting, timely feedback on achievement of operational and strategic goals, compliance with applicable laws and regulations and that all assets and resources are acquired economically, used efficiently and adequately protected .
during the year under review, no material or serious observations have been received from the internal auditors of the company with respect to inefficiency or inadequacy of the controls .
risks are an inherent part of any business. the company has formulated a risk assessment and minimization policy with regard to risk management to identify risks inherent in business operations of the company and provides guidelines to define, measure, report, control and mitigate the identified risks. this policy ensures the sustainable business growth with stability and to promote a pro - active approach in reporting, evaluating and resolving risks associated with the company'' s business .
piracy is a major risk and bane for the m & e; industry globally. the industry has been working relentlessly to reduce this key threat. with the advent of internet and digitization, this threat continues to be a major source of revenue loss for all the stakeholders in the industry. this has a potential to incentivize piracy as people would and it much easier to watch movie on their laptops or mobile than travel to far off theatres. hence, there is need for a collective, structured, scientific, multipronged and proactive approach to combat piracy .
tv, ipl, ott platforms, live entertainment etc. and other forms of outdoor entertainment such as sports, eating out, etc. may eat into the share of domestic theatricals as an entertainment option .
india lags behind on account of screen penetration and lack of infrastructure is leading to a lost revenue opportunity for the industry. this affects the scope of the smaller films to a greater extent. each meritorious independent film, under marketed or under monetized would be a missed opportunity, not only for that particular film or film maker, but for the entire indian film industry .
increasing atps are dissuading the audience from watching the films in theatres. regions with low atp prices have witnessed improved occupancy levels and a boost to film business. for instance, the occupancy levels are very high in the south where the atp prices are capped. also, the marathi film industry experienced a boom in the last year due to low atp prices. hence, there is need to rationalize the atp prices to improve the footfalls .
the opportunities observed are based on the trends noticed in past couple of years, which continues to be relevant. some of the key ones are as follows :
digitization has impacted all aspects of the m & e; industry right from production to distribution to exhibition to sales of tickets. the next wave of growth in the overall m & e; industry is expected to be driven by increased digitization. over the year, there have been far - reaching changes in the form of availability of low - cost smart devices and dropping data plans. in spite of this, india still has a low internet penetration of around 19 per cent, indicating a huge growth potential. the advent of 4g services, the increasing adoption of 3g in urban areas and 2g in rural areas are all strong signals of the immense growth potential that will be unlocked by digitization .
the year 2014 saw a huge surge in production and release of regional films. from tamil to telugu and from marathi to punjabi, all the regional film markets performed excellently. the share of theatrical revenues from regional films has been rising from around 12 - 13% in 2013 to almost 20 - 21% in 2014, particularly in tier 2 and tier 3 cities, as per industry data .
the growing popularity of bolly wood films in the overseas markets is another growing opportunity. over the year, new markets like china and europe have seen a huge surge in interest in hindi films. however, the share of overseas theatricals is still around 10 - 25 per cent, much lower than the almost 60 per cent for hollywood films. as more and more new markets like lebanon, burma and iraq continue to be mesmerized by hindi films, the overseas theatrical avenue is poised for a big leap .
the indian media and entertainment (m & e ;) industry is a sunrise sector for the economy and is growing at a rapid pace. the industry has witnessed tremendous growth in the last few years and the growth momentum is expected to continue. digitization has played a major role in the indian m & e; industry, affecting every aspect from production to distribution. going forward, those companies who take the digital leap and adapt their business models to meet the digital world stand to make maximum gains. another key factor for the industry is the increasing number of screen in the country. in the next five years, the growth in the number of screens would primarily be driven by expansion to tier - ii and tier - iii cities .
the information required under section 197 of the companies act, 2013 read with companies (appointment and remuneration of managerial personnel) rules, 2014 in respect of employees of the company is provided in annexure ii forming part of this report .
the company has adopted a whistle blower policy / vigil mechanism policy for directors and employees to report their genuine concerns. details of the policy are provided in the corporate governance report, which forms part of this annual report .
as a part of its corporate social responsibility (csr) initiative, the company has undertaken project in accordance with schedule vii of the companies act, 2013 and the company'' s csr policy .
the average net profit of the company, computed as per section 198 of the companies act, 2013 during the three immediately preceding financial years was rs, 87. 03 lakhs. it was required to spend rs, 1. 74 lakhs on csr activities during the financial year 2015 - 16, being 2% of the average net profits of the three immediately preceding financial years .
the report on csr activities as required under the companies (corporate social responsibility policy) rules, 2014 is provided in annexure iii forming part of this report .
extract of the annual return in form mgt - 9 pursuant to section 92 (3) of the companies act, 2013 for the financial year ended march 31, 2016 is provided in annexure iv forming part of this report.
tips industries ( bse : 532375 | nse : tipsindltd ) is one of the largest corporate houses in the field of music and films . its main area of interest is music production , promotion and distribution , now also in films . it has the highest number of gold and platinum discs to their credit in comparison with any other record label in india . its team of distributors serve more than 1000 wholesalers across the length and breadth of the country who , in turn , serve more than 400,000 retailers . 
tips industries (bse: 532375 | nse: tipsindltd) is one of the largest corporate houses in the field of music and films. its main area of interest is music production, promotion and distribution, now also in films. it has the highest number of gold and platinum discs to their credit in comparison with any other record label in india. its team of distributors serve more than 1000 wholesalers across the length and breadth of the country who, in turn, serve more than 400,000 retailers.
tips industries (bse: 532375 | nse: tipsindltd) is one of the largest corporate houses in the field of music and films. its main area of interest is music production, promotion and distribution, now also in films. it has the highest number of gold and platinum discs to their credit in comparison with any other record label in india. its team of distributors serve more than 1000 wholesalers across the length and breadth of the country who, in turn, serve more than 400,000 retailers.