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Thomas Cook (India) Ltd. A Wing, 11th Floor, Marathon Future>< N. M. Joshi Marg, Lower Parel Mumbai 400 013 Board No.: +91-22-4242 7000 ~ an• Travel Smooth Fa>< No. : +91-22-2302 2864 thomascook. in A FAIRFAX Company 2nd September, 2016 The Manager, The Manager, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No.C/1 Dalal Street G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 001 Mumbai -400 051 Scrip Code: 500413 Scrip Code: THOMASCOOK NCCPRS Scrip Code: 715022 NCCPRS Scrip Code: Thomas Cook CRNCPS NCO Scrip Code: 949099, 952673, 952674, 952675 8.50% 2022 NCD:THC10.52; Thomas Cook 9.37% 2018 SERIES 1; Thomas Cook 9.37% 2019 SERIES 2; Thomas Cook 9.37% 2020 SERIES 3 Fax No.: 2272 2037/39/41/61 Fax No.: 2659 8237/38 Dear Sir/ Madam , Ref: Submission of information pursuant to Regulation 34 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Sub: Filing of Annual Report for financial year 2015-16 The Company at its 39th Annual General Meeting held on 2nd September, 2016 has approved and adopted the Annual Report for the financial year 2015-16 . In compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith copy of the Annual Report for financial year 2015-16. This is for your information and records . Thank you, Yours faithfully, For Thomas Cook (India) Limited ~~ Amit J. Parekh Company Secretary and Compliance Officer ~) Encl.: a/a ~ Holidays Foreign E><c~ange Business Travel V i s a s I n s u r a n c e Corporate Office: A Wing, 11th Floor, Marathon Future><, N. M. Joshi Marg, Lower Parel, Mumbai - 400 013. Registered Office: Thomas Cool< Building, Dr. D. N. Road, Fort, Mumbai - 400 001. Email id: [email protected] CIN No.: L63040MH1978PLC020717 www.thomascool<.in Annual Report 2015-2016 BOARD OF DIRECTORS Madhavan Menon, Chairman & 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, Additional Non Executive Director – Independent Sunil Mathur, Additional Non Executive Director – Independent COMPANY SECRETARY Amit J. Parekh – Company Secretary & Compliance Officer AUDITORS CONTENTS Lovelock & Lewes Directors’ Report ........................................................................... 01 PRINCIPAL BANKERS (in alphabetical order) The Management Discussion and Analysis Report ........................ 42 Axis Bank Limited Report of the Directors on Corporate Governance ........................ 52 Bank of America Deutsche Bank Report of various Committees of the Board .................................. 81 HDFC Bank Limited Certificate on Corporate Governance ............................................ 85 ICICI Bank Limited CEO/ CFO Certification and Declaration IDBI Bank Limited on Compliance of Code of Conduct ............................................... 86 IndusInd Bank Limited Kotak Mahindra Bank Limited Thomas Cook (India) Limited Financial Statements RBL Bank Auditors’ Report ............................................................................ 87 State Bank of India Balance Sheet ............................................................................... 92 Yes Bank Statement of Profit and Loss ......................................................... 93 REGISTRARS & SHARE TRANSFER AGENTS TSR Darashaw Limited, Cash Flow Statement ..................................................................... 94 6-10, Haji Moosa Patrawala Indl. Estate Notes forming part of the Financial Statements ........................... 96 20, Dr. E Moses Road, Mahalakshmi, Consolidated Financial Statements Mumbai 400 011 Tel: +91 22 6656 8484 Auditors’ Report ............................................................................ 129 Fax: +91 22 6656 8494 Balance Sheet ............................................................................... 132 Email Id: [email protected] Statement of Profit and Loss ......................................................... 133 Website: www.tsrdarashaw.com Cash Flow Statement ..................................................................... 134 REGISTERED OFFICE Thomas Cook (India) Limited Notes forming part of the Financial Statements ........................... 136 CIN: L63040MH1978PLC020717 Information regarding subsidiary companies ............................... 181 Thomas Cook Building, Consolidated five year’s performance ........................................... 184 Dr. D. N. Road, Fort, Mumbai – 400 001 Thomas Cook offices ..................................................................... 186 Tel: +91 22 4242 7000 Fax: +91 22 2302 2856 Email id: [email protected] Website: www.thomascook.in Members may please note that e-copy of Annual Report 2015-2016 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 (Additional Non Executive Independent Director) (Non Executive Independent Director) Madhavan Menon Nilesh Vikamsey (Chairman & Managing Director) (Additional Non Executive Independent Director) Kishori Udeshi Chandran Ratnaswami (Non Executive Independent Director) (Non Executive Director) Harsha Raghavan (Non Executive Director) Executive Committee Members Madhavan Menon Mahesh Iyer Rambhau. R. Kenkare Debasis Nandy Chairman & Chief Operating Officer President & Group Head Chief Financial Officer & Managing Director Thomas Cook (India) Ltd Legal, Secretarial & Administration President - Commercial Rajeev Kale Amit Madhan Prashant Narayan Indiver Rastogi President & Country Head President & Group Head Chief Operating Officer & Head President & Country Head Leisure Travel, MICE Technology & Shared Services Leisure Travel(Inbound) Corporate Travel Abraham Alapatt Jatinder Paul Singh Shibani Phadkar Mona Cheriyan President & Group Head Senior Vice President & Head Senior Vice President & Head President & Group Head Marketing, Service Quality, Sales & Distribution, Products & Operations, Human Resources Financial Services & Innovation Leisure Travel (Outbound) Leisure Travel (Outbound) Europe Malaysia Dubai 6N / 7D `10700 x12* 3N / 4D `3700 x 12* 4N / 5D `4200 x 12* (Ex-Mumbai) (Ex-Mumbai) (Ex-Mumbai) Thailand Sri Lanka Singapore + Malaysia 4N / 5D `3000 x 12* 5N / 6D `4000 x 12* 5N / 6D `5900 x 12* (Ex-Mumbai) (Ex-Mumbai) (Ex-Mumbai) Singapore North East Kashmir 3N / 4D `4200 x 12* 6N / 7D `3000 x 12* 6N / 7D `3400 x 12* (Ex-Mumbai) (Ex-Mumbai) (Ex-Mumbai) Bhutan Goa Himachal 6N / 7D `3700 x12* 3N / 4D `700 x 12* 6N / 7D `3300 x 12* (Ex-Delhi) (Ex-Goa) (Ex-Mumbai) Kerala Golden Triangle Andaman 6N / 7D `3300 x 12* 5N / 6D `2100 x 12* 5N / 6D `3100 x 12* (Ex-Mumbai) (Ex-Mumbai) (Ex-Mumbai) Banking Partners: Terms & conditions apply. Prices mentioned are on twin sharing basis. Ex-Mumbai, Bangalore, Hyderabad, Chennai, Ahmedabad and Kolkata prices also available. Thomas Cook (India) Limited Directors’ Report To the Members: Your Directors have pleasure in presenting the Thirty – Ninth Annual Report, together with audited financial statements for the financial year ended on 31st March, 2016. FINANCIAL PERFORMANCE (` in million except Earnings Per Share) Standalone Consolidated* Particulars Financial Fifteen months Financial Fifteen months Year ended Period ended Year ended Period ended 31st March, 2016 31st March, 31st March, 2016 31st March, 2015** 2015** Total Revenue 4,125.77 5,135.82 42,835.58 32,863.21 Profit before Tax 84.32 486.21 1,282.09 1,709.88 Exceptional Item - - 938.50 - Prior Period Item - - 58.46 - Provision for Taxation - 157.00 733.58 517.19 MAT Credit Entitlement - - - 16.96 (Write back) / Provision for Deferred Taxation and Tax 2.99 (2.90) (282.47) 52.35 pertaining to earlier periods Profit after Taxation 81.33 332.11 - - (Loss)/Profit after Taxation and before Minority Interest - - (165.98) 1,123.38 Minority Interest - - 213.34 221.87 (Loss)/Profit after Taxation and Minority Interest - - (379.31) 901.51 Transferred to General Reserve - 33.21 - 33.21 Dividend Proposed / Paid 172.67 138.61 172.67 138.61 Earnings Per Share - Basic (per equity share of ` 1/- each) 0.12 1.31 (1.30) 3.56 Earnings Per Share - Diluted (per equity share of ` 1/- each) 0.12 1.10 (1.30) 2.98 * Consolidated financial statements for the financial year ended 31st March, 2016, included the consolidated audited financial statements of companies acquired during the financial year, mainly SOTC Travel Services Private Limited (SOTC) (formerly known as ‘Kuoni Travel (India) Private Limited’) for the period 1st January, 2016 to 31st March, 2016 and Kuoni Travel (China) Limited for the period 1st November, 2016 to 31st March, 2016. Accordingly said figures are not comparable with previous period. In the previous period, the consolidated financial statements for the period ended 31st March, 2015, included the consolidated financial statements of Sterling Holiday Resorts (India) Limited for the period 3rd September, 2014 to 31st March, 2015. Consequently, consolidated financial statements for the financial year ended 31st March, 2016