Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Forensic Accounting

Hathway Cable And Datacom / Forensic Accounting

<p>We have analyzed financials of Indian Cable Industry majors: <a href="https://www.smartkarma.com/entities/9895" target="_blank" data-smartkarma-citation="entities:9895:1">Den Networks (DEN IN)</a> , <a href="https://www.smartkarma.com/entities/952" target="_blank" data-smartkarma-citation="entities:952:1">Hathway Cable And Datacom (HATH IN)</a> (Hathway), <a href="https://www.smartkarma.com/entities/27886" target="_blank" data-smartkarma-citation="entities:27886:1">GTPL Hathway (GTPL IN)</a> and found out following key issues:-</p><ul>
<li>Possible impairment of investment in subsidiaries (whose net worth is fully eroded) of Den Networks and GTPL will significantly erode the net worth of these companies.</li>
<li>Non-recognition of deferred tax assets on tax losses by Den Networks confirms our hypothesis of an impairment of investment in subsidiaries.</li>
<li>Hathway and GTPL follow aggressive accounting policy of measuring receivables pursuant to the introduction of Digital Addressable System (DAS).</li>
<li>Consolidated financial statements may not be trustworthy as unaudited, management certified financial statements of few of the subsidiaries, associates and joint ventures had been consolidated.</li>
<li>Non – consolidation of few subsidiaries, associates and Joint venture gives an incomplete picture of financial statements.</li>
</ul>

We have analyzed financials of Indian Cable Industry majors: Den Networks (DEN IN) , Hathway Cable And Datacom (HATH IN) (Hathway), GTPL Hathway (GTPL IN) and found out following key issues:-
Possible impairment of investment in subsidiaries (whose net worth is fully eroded) of Den Networks and GTPL will significantly erode the net worth of these companies.
Non-recognition of deferred tax assets on tax losses by Den Networks confirms our hypothesis of an impairment of investment in subsidiaries.
Hathway and GTPL follow aggressive accounting policy of measuring receivables pursuant to the introduction of Digital Addressable System (DAS).
Consolidated financial statements may not be trustworthy as unaudited, management certified financial statements of few of the subsidiaries, associates and joint ventures had been consolidated.
Non – consolidation of few subsidiaries, associates and Joint venture gives an incomplete picture of financial statements.


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GTPL Hathway Limited (GTPL IN)

Cable Giants: An Accounting Review

We have analyzed financials of Indian Cable Industry majors: Den Networks (DEN IN) , Hathway Cable And Datacom (HATH IN) (Hathway), GTPL Hathway...

Nitin Mangal

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