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IRCTC - Indian Railway Catering & Tourism Corp Ltd.

BSE: 542830 | NSE: IRCTC |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE335Y01012 | SECTOR: Miscellaneous

BSE Live

Jul 30, 15:55
2329.60 9.90 (0.43%)
Volume
AVERAGE VOLUME
5-Day
76,367
10-Day
144,157
30-Day
108,885
57,838
  • Prev. Close

    2319.70

  • Open Price

    2330.00

  • Bid Price (Qty.)

    2330.00 (10)

  • Offer Price (Qty.)

    2348.80 (10)

NSE Live

Jul 30, 15:59
2331.30 10.20 (0.44%)
Volume
AVERAGE VOLUME
5-Day
942,501
10-Day
1,888,626
30-Day
1,623,958
871,483
  • Prev. Close

    2321.10

  • Open Price

    2324.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    2331.30 (148)

Annual Report

For Year :
2011

Chairman's Speech

Dear Shareholders, It gives me immense pleasure in extending my warm greetings to all of you at the Twelfth Annual General Meeting of the Corporation. We have gathered here today to receive, consider and adopt the Balance Sheet as on 31st March, 2011, Profit and Loss Account for the year ended on that date and Report of Board of Directors and Auditors thereon. These documents are already with you and I take it that all of you have perused them. I would now like to briefly mention the salient features of the Corporation''s performance during the year 2010-11. FINANCIAL PERFORMANCE: - While the profit before tax in Financial Year 2011 was Rs 129.79 crore as compared to Rs 94.76 crore in Financial Year 2010, the net profit in Financial Year 2011 has come down to Rs 60.79 crore as compared to the figures of Rs 63.05 crore in Financial Year 2010. This is on account of higher provision for Income Tax. - While revenue from Departmental Catering has gone up to Rs 198.98 crore during 2010-11, i.e. by more than Rs 50 crore as compared to previous fiscal, the losses have also been brought down from Rs 74.74 crore to Rs 55.47 crore in 2010-11. While this is encouraging, we have to strive for cutting down the losses further. Some other financial performance indicators worth mention are as under: - The net worth of the Corporation has reached Rs 211.41 crore as on 31.03.2011. - IRCTC after transfer of licensee catering business to Railways have gone down in contribution of revenue to IR but the increase in reserved tickets booking to Rs 8007 crore as against Rs 6011 crore in the last fiscal is encouraging. - The accounts of the Corporation for the year ended 31st March 2011 have been audited by C&AG and no adverse comments have come in the Supplementary Audit. Dividend The Board of Directors has recommended to payRs 14.13crore as final dividend (including Rs 1.97 crore dividend tax) for the year 2010-11. This works out to 70.65% of the paid up Equity Share Capital of the Corporation. The Comptroller and Auditor General of India has conducted the supplementary audit on audited accounts of the Corporation for the year ended 31st March, 2011 under Section 619 (4) of Companies Act, 1956 and has offered NIL comment son the same. OPERATIONAL PERFORMANCE: Catering & Hospitality: Under the new policy directives, the Mobile Catering business of the Corporation has reduced from 285 trains at the end of March''10, to 33 trains at the end of March''11. Other than Food Plazas, all the licensee static units stand transferred to Railways except few residual units. During the year, 7 more Food plazas/ Fast food units, taking the total to 85 became operational. The Corporation has opened 24 units so far in other institutions. It has also entered into MOU with DMRC, BPCL and HPCL for opening kiosks as also Food Plazas in their areas, as a part of diversification. Rail Neer: During the year, the production of Rail Neer at Nangloi and Danapur was 3.28 crore and 3.12 crores bottles respectively as against installed capacity of 3.34 crores bottles at each plant. Travel & Tourism: Corporation''s Tourism portal, www.railtourismindia.com. is a frequently visited site on the web and it showcases a wide range of Travel & Tourism products and services to meet the requirements of different segments of tourists. Internet ticketing: Average tickets sold per day through Corporation''s website were 2,79,113 tickets during March, 2011, indicating the healthy growth over the previous fiscal. Corporation manages the enquiry services of Indian Railways known as Rail Sampark 139 on PPP basis. FUTURE GROWTH STRATEGY The Corporation is confident of harnessing its extensive capability in the fields of hospitality, tourism, E-commerce and packaged drinking water and is gearing up to excel in its diversified role. Catering & Hospitality Corporation is shortly opening a state of art Central Kitchen (Food Factory) at Noida with a capacity of about 25000 meals per day. The Corporation has further planned to diversify into related areas like - Food Factory, Facility Management, Food Parks, Budget Hotels, Motels, Hospitality Hubs, Hospitality institutes etc by harnessing the existing capabilities. Corporation is also exploring the field of Commercial catering at Malls, Business Centres, Institutional Catering etc. Rail Neer Another Packaged Drinking Water plant with a capacity of 2 lakh bottles/day is being setup at Ambernath (Mumbai), which is likely to come up in FY 12-13. Budget Hotels The Corporation aims to set up Budget Hotels at all major Railway Stations on PPP basis to provide a Standard Clean accommodation at reasonable Price in the vicinity of the Station. Tourism Corporation is planning to further expand tourism business in the coming years by expanding existing business lines as well as development of new lines such as corporate travel as well as inbound travel services for individual travelers: E- Commerce The Corporation hopes to continue to provide the e-ticketing facility to the Railway passengers and grow further in this sector, aiming at 80% of all reserved tickets. With IATA accreditation received recently, the Corporation is also aiming to enter in air ticketing business. PERFORMANCE REVIEW The performance of Corporation in terms of MOU signed with the Government of India in the Ministry of Railways for the FY10 has been rated as ''Excellent''. This trend has to be sustained in future. In recognition of the excellent performance of the Corporation in various fields, a number of awards have been conferred on Corporation during the year. RAJBHASHA The Corporation continued its thrust on the official language implementation in-line with Govt, of India''s Policy. Several steps have been taken to increase the use of Rajbhasha in the Corporation. The e-ticketing site is bilingual. CORPORATE SOCIAL RESPONSIBILITY The Corporate Social Responsibility Policy is To remain a responsible Corporate entity mindful of its social responsibilities to all stakeholders including railway passengers, customers, consumers, share holders, employees, local community and society at large. An amount of Rs 2.25 crore was earmarked by the Corporation for CSR Activities for the year 2010-11. I, on my behalf and on behalf of the Board of Directors of the Corporation, place on record the valuable guidance provided and services rendered by the outgoing Chairman, Shri Vivek Sahai, Ex- Chairman and Member Traffic, Railway Board, Part-time Official Director, Shri Naresh Salecha, Executive Director F(C) and Part-time Non-Official Directors, Shri JagdeepS. Chhokarand Shri AlokShivapuri. Before I conclude, I would like to express my sincere gratitude to the Shareholders for the confidence reposed in the Corporation. I also wish to express my gratitude to the Government of India, Ministry of Railways, Ministry of Tourism and Zonal Railways for their valuable guidance and support. Last but not the least, I would like to place on record my sincere appreciation for the commitment, involvement and dedication exhibited by the officers and staff as well as our associated agencies in the overall development and growth of the Corporation. Thankyou, Sd/- (VINAY MITTAL) CHAIRMAN Place: NEW DELHI Date: 22nd September, 2011