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Annual Report 2016-2017

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Annual Report 2016-2017 HARNESSING TECHNOLOGY FOR BETTER CUSTOMER EXPERIENCE. Annual Report 2016-2017 Registered Office: Thomas Cook (India) Limited CIN: L63040MH1978PLC020717 Thomas Cook Building, Dr. D N Road, Fort, Mumbai - 400001, India Board: +91-22-4242 7000onlonlineine bobooki| oki Fax:ng +91-22-2302 2864 online booking BOARD OF DIRECTORS Madhavan Menon, Chairman and Managing Director Harsha Raghavan, Non Executive Director Chandran Ratnaswami, Non Executive Director Kishori Udeshi, Non Executive Director – Independent Pravir Kumar Vohra, Non Executive Director – Independent Nilesh Vikamsey, Non Executive Director – Independent Sunil Mathur, Non Executive Director – Independent COMPANY SECRETARY Amit J. Parekh –Company Secretary & Compliance Officer CONTENTS AUDITORS Lovelock & Lewes Directors Report ..............................................................................01 Annexure to Directors’ Report .........................................................10 PRINCIPAL BANKERS (in alphabetical order) Axis Bank Limited Management Discussion and Analysis Report .................................35 Bank of America Report of Directors on Corporate Governance .................................45 HDFC Bank Limited ICICI Bank Limited Certificate of Compliance on Corporate Governance........................69 IDFC Bank Limited CEO/ CFO Certification and Declaration Induslnd Bank Limited Kotak Mahindra Bank Limited on Compliance of Code of Conduct ................................................70 RBL Bank Business Responsibility Report.........................................................71 State Bank of India Yes Bank Thomas Cook (India) Limited Financial Statements Auditors’ Report ..............................................................................80 REGISTRARS & SHARE TRANSFER AGENTS TSR Darashaw Limited, Balance Sheet .................................................................................84 6-10, Haji Moosa Patrawala Indl. Estate Statement of Profit and Loss ............................................................85 20, Dr. E Moses Road, Mahalakshmi, Mumbai 400 011 Cash Flow Statement........................................................................88 Tel: +91 22 6656 8484 Notes forming part of the Financial Statements ..............................90 Fax: +91 22 6656 8494 Email Id: [email protected] Consolidated Financial Statements Web-site: www.tsrdarashaw.com Auditors’ Report ........................................................................... 141 REGISTERED OFFICE Balance Sheet .............................................................................. 144 Thomas Cook (India) Limited CIN: L63040MH1978PLC020717 Statement of Profit and Loss ......................................................... 145 Thomas Cook Building, Cash Flow Statement..................................................................... 148 Dr. D. N. Road, Fort, Mumbai – 400 001 Notes forming part of the Financial Statements ........................... 150 Tel: +91 22 4242 7000 Information regarding subsidiary companies .............................. 233 Fax: +91 22 2302 2864 Email id: [email protected] Consolidated five year’s performance .......................................... 236 Website: www.thomascook.in Thomas Cook offices ..................................................................... 237 Members may please note that e-copy of annual report 2016-2017 is being sent to those shareholders whose email addresses are registered with their respective depositories and/or to those registered to receive e-copy of the Annual Report as part of green initiative undertaken by the Company. The same would also be available on the Company’s website www.thomascook.in BOARD OF DIRECTORS Bottom row from left to right Top row from left to right Sunil Mathur Pravir Kumar Vohra (Non Executive Director - Independent) (Non Executive Director - Independent) Madhavan Menon Nilesh Vikamsey (Chairman & Managing Director) (Non Executive Director - Independent) Kishori Udeshi Chandran Ratnaswami (Non Executive Director - Independent) (Non Executive Director) Harsha Raghavan (Non Executive Director) online booking GROUP MANAGEMENT Madhavan Menon Dipak Deva Vishal Suri Mahesh Iyer Thomas Cook (India) Limited Travel Corporation (India) Limited SOTC Travel Services Private Limited Thomas Cook (India) Limited Chairman & Managing Director Managing Director Chief Executive Officer Managing Director Maria Ng Mona Cheriyan Rambhau. R. Kenkare Debasis Nandy Travel Circle International Limited, Thomas Cook (India) Limited Thomas Cook (India) Limited Thomas Cook (India) Limited Hongkong President & Group Head President & Group Head Legal, Chief Financial Officer & Managing Director Human Resources Secretarial & Administration President - Commercial online booking Chaminda Dias Mohinder Dyall Amit Madhan Abraham Alapatt Luxe Asia (Private) Limited, Thomas Cook (Mauritius) Thomas Cook (India) Limited Thomas Cook (India) Limited Srilanka Operations Company Limited President & Group Head Technology & President & Group Head Managing Director Chief Operating Officer Shared Services Marketing, Service Quality, Financial Services & Innovation Travel Smart. Travel Cashless. Welcome to the new Thomas Cook Travel Prepaid Card, the chip & PIN protected prepaid foreign exchange travel card. 5 years ago Thoma Cook started on an ambitious journey by becoming India’s first non banking entity to issue its own prepaid travel card. We have since clocked over US$ 1.1 Billion in sales with 3 Lakh customers. The business has more than doubled in volumes since 2013. Today we embark on the second phase of this journey! Presenting the next generation of the Borderless Prepaid Card in partnership with Euronet & MasterCard with cutting edge & best-in-class functionalities Key Features: For the Cardholder: SMS & email alerts, Self selection of ATM Pin, Mobile app. For the Corporate: Customized pricing options, Real time MIS, Corporate admin log-in. Walk in to the Call toll-free Book online nearest store 1800 2099 100 thomascook.in Gift a travel experience to your loved ones Gifting is one of the most important traditions of our lives. A gift which translates into a lifetime of beautiful memories is the best possible one! A dream holiday is one such gift. Send your loved ones to their favourite destination, with Thomas Cook Travel and Holiday card - an ideal choice for any occasion! Unique Features of the Gift Card Book international or Hotel accommodation Gifting option ranging domestic holidays anywhere in the world from `1,000 - `50,000 Safe and Secure Security is ensured by usage exclusive to Thomas Cook India outlets or online via thomascook.in Pin protected Block card in case of loss Walk in to the Call toll-free Book online nearest store 1800 2099 100 thomascook.in Note: Foreign Exchange cannot be redeemed against the card as per RBI guidelines. Thomas Cook (India) Limited Directors’ Report To the Members, Acquiring or reaching out to customers online has also helped us in Your Directors have pleasure in presenting the Fortieth Annual Report, reducing our cost of acquisition, while giving customers a seamless together with audited fi nancial statements for the fi nancial year ended experience across all channels, resulting in improved customer satisfaction. on 31st March, 2017. With an intent to building an annual property, we also introduced a mega OVERVIEW promotional campaign called the GRAND INDIAN HOLIDAY SALE which customers could look forward to as it gave them unbeatable offers nudging Travel and tourism has now become the largest civilian industry in the them to take up a holiday. It was a 10-day sale across online and offl ine world. According to statistics, one out of every ten persons worldwide is channels, backed by promotions across Print, Outdoor & Digital, which part of the travel and tourism industry. saw a close to 100% surge in online traffi c and walk-ins at the stores during There have been changes in lifestyle, tastes, rising household incomes, the campaign period. which has had a positive effect and boost to the industry. The reach of the EXPANDING NETWORK Internet has made it more convenient for customers with greater choices at competitive rates. As of 31st March, 2017, your Company, along with its subsidiaries, continues to be amongst the largest integrated travel groups in India. Your International traffi c is expected to expand at 10-12% in 2017 and 2018, but Company (exclusive of its subsidiaries) operates through 261 locations bilateral restrictions may preclude achieving true potential. Most of the ten in 102 cities, 81 PSAs and 96 Gold Circle Partner outlets to have a wider largest international carriers are achieving year-round average load factors spread and network across the country. of 90% or higher, indicating constrained capacity. As per The International Your Company also has presence in countries outside India through its Air Transport Association (IATA), the global passenger traffi c rose by 6.3% branches/ representative offi ces in USA (New York), Spain (Barcelona), for 2016 compared to 2015. This strong performance was well ahead of the UK (London), Japan (Tokyo & Osaka), China (Beijing), Hungary, Finland, ten-year average annual growth of 5.5% and capacity increasing by 6.2%. Portugal, Italy, Germany, Brazil, Ukraine, Russia, Australia, Nepal, Bhutan Air travel was a good news story in 2016. Connectivity increased with the and France (Paris) apart from its subsidiaries in Mauritius, Sri Lanka, establishment of more
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