2015-2016Amar Ujala Publications

We are a leading print media company in India, publishing India's fourth largest major daily newspaper, Amar Ujala (in terms of total readership) (Source: Indian Readership Survey ("IRS") for fourth quarter of 2012("IRS2012Q4"). Amar Ujala, our flagship Hindi daily newspaper, has total readership of approximately 30.13 million readers per day (Source: IRS 2012Q4). Further, the average circulation of Amar Ujala was approximately 2.49 million copies per day during the first half of 2015 (Source: Audit Bureau of Circulation ("ABC") January to June 2015 ("ABC Jan-June2015")). Amar Ujala is one of the fastest growing major daily newspapers in India with a growth in circulation of 27.69% during period of January-June 2015 (with an average circulation of approximately 2.49 million per day) compared to the period of January-June 2014 (with an average circulation of 1.95 million per day) (Source: ABC). Amar Ujala was first published in the late 1940s in Agra, Uttar Pradesh and is now published in 19 editions in states of Uttar Pradesh, Uttarakhand, Himachal Pradesh, Jammu & Kashmir, Punjab and Haryana as well as union territories of New Delhi and Chandigarh. Amar Ujala has been ranked as the most widely circulated and read daily newspaper in the city of Lucknow and the states of Uttarakhand and Jammu & Kashmir, most widely read newspaper in Himachal Pradesh and second most widely circulated and read in the state of Uttar Pradesh (Source: IRS2012Q4 and ABC Jan-June2015). We also publish a Hindi daily tabloid newspaper, Amar Ujala Compact, in six editions published in the state of Uttar Pradesh, with a combined readership of 2.59 million readers per day (Source: IRS2012 Q4). Amar Ujala Compact is the most widely read and circulated Hindi daily tabloid in state of Uttar Pradesh (Source: IRS2012Q4 and ABC Jan-June2015). In addition to our news and current affairs print media business, we also publish educational books, under the publication series 'Amar Ujala Education Books', and educational magazines. Our series of educational books include general knowledge manuals, books based on curriculum of National Council of Educational Research and Training ("NCERT") and study kits for the preparation of various entrance examinations including examinations conducted by Union Public Services Commission and University Grants Commission. We also publish Saflata, a niche monthly magazine providing study material for civil services and other examinations, and Safalta Samyiki, which provides information relating to general knowledge and current affairs. In line with the comparable media groups, we offer convergent media content across mobile and web screens. We publish our editorial and news content in electronic form on our internet portal, (www.amarujala.com). Our internet portal contains content from the daily editions of our newspapers in form of e-papers as well as is updated round the clock by the editorial staff with breaking news and coverage. We also have a mobile internet portal as well as android and windows operating software based applications, for users to access our content on mobile devices. Since April 2013 the desktop site has registered a growth of more than [147] % in terms of number of page views (Source: Google Analytics, April 2013 and September 2015) while, since its launch in September 2013, the mobile site has registered a growth of more than [4,555] % in terms of number of page views (Source: Google Analytics September 2013 and September 2015). Our online offerings also include utilities and services such as an exam results portal, job information services and a Hindi blog posting platform. We have a large newspaper production and distribution platform. We print our products across 18 facilities spread in 18 cities, with a total installed capacity of approximately 3.92 million copies per day as on September 30, 2015. We distribute our newspapers through a multi-tiered distribution and marketing network consisting of direct cash sale depots, newspaper agents and vendors at various distribution centres. In addition to our own publications, we also print newspapers, books, fliers and catalogues at our facilities for third parties under our commercial printing division.