The document discusses the financial performance of Oberoi Hotels & Resorts for the financial year 2011-2012. Some key points:
- Total revenue grew 8% to Rs. 1904 crores compared to the previous year. Earnings before interest, taxes, depreciation and amortization grew 2% to Rs. 577 crores.
- Profit before tax declined slightly to Rs. 175 crores from Rs. 183 crores in the previous year. Profit after tax grew 11% to Rs. 134 crores.
- Foreign exchange earnings increased significantly to Rs. 1133 crores from Rs. 875 crores in the previous year. Expenditure in foreign exchange also rose.
Voya Financial held an investor presentation on May 7, 2014 to discuss its first quarter 2014 results. The presentation highlighted that Voya achieved higher expected capital generation, repurchased $265 million in shares, and rebranded from ING U.S. to Voya Financial in April 2014. Voya's ongoing business adjusted operating return on equity remained steady at 10.3% for both the first quarter and trailing twelve months of 2014, consistent with its full year 2013 results and on track to meet its 2016 target. Retirement solutions continued its re-pricing strategy in tax-exempt markets and leveraged a rebuilt sales force.
A process that allows multiple private and public organizations to lower their debt and improve their financial deficit by the means of asset transfer, equity exchange or increased payment time is known as debt restructuring. The following presentation provides an overview of the entire process of debt restructuring and how an organization can use it as tool to lower the debt. Initially this presentation provides an overview of the organization, its services and financial performance. These financial parameters can be revenues, gross profit, net profit and earning per share. Once the overview is provided the following the organization then needs to perform an in depth analysis of its current financial performance Multiple key aspect of the performance are covered such as the Income Statement, balance sheet, cash flow statement and other key ratios are captured. These ratios can be Price to Earning Ratio, Stock Turnover Ratio, Account Receivable Ratio, Creditor Turnover Ratio, Return on Equity and Account Payable Ratio. Once the financial performance is analyzed multiple options that can help the organization to recover from their debts are considered. These methods can be Merger and Acquisition, Debt Restructuring, Financial Restructuring and Bankruptcy. After Identifying multiple methods, a comparative analysis of these options is performed. After careful analysis debt restructuring is chosen to be the best option for the organization. After choosing debt restructuring as an option the organization initially studies the entire process of the same. The organization first goes through stabilization phase in which various pain points of the organization are identified and existing debt are reviewed. After that in preparation stage multiple regulatory requirements are identified and communication method for shareholder are considered. In the final stage Implementation, the actual process of debt restructuring begins as three major ways of debt restructuring transfer of Asset, Exchange of equity and Increase in payment time are studied. In the end multiple risk associated to debt restructuring are evaluated and mitigation strategies for the same are considered. The impact of debt restructuring is also evaluated and multiple KPIs Key performance indicators are decided to study the overall effect of debt restructuring. https://bit.ly/2NBhd1T
Aeroplan is transforming its Canadian coalition loyalty program to focus on delivering greater member value. The transformation includes new 10-year agreements with TD and CIBC to be the exclusive issuers of Aeroplan credit cards. This provides a stable platform for growth. The changes are aimed at addressing points of vulnerability and providing a differentiated experience through a multi-year effort to rework the member experience. The goal is modest membership growth and higher revenues by upgrading members to drive more strategic use of miles and deliver outstanding value to members and partners.
- Amdocs reported quarterly revenue of $711 million, in line with their guidance of $700-720 million. Their non-GAAP operating income was $128 million with an 18% margin.
- Their 12-month backlog was $2.37 billion. For the third quarter, they expect revenue of $670-690 million and non-GAAP EPS of $0.46-0.50.
The document provides an overview of financial statements and accounting. It discusses the key players in a business, the accounting system and financial statements. The four basic financial statements are the balance sheet, income statement, statement of retained earnings, and statement of cash flows. It also discusses accounting principles, auditing, business entities, careers in accounting and related topics.
SpareBank 1 Gruppen reported a pre-tax profit of NOK 786.6 million in 2012, more than double the 2011 profit, due to improved results from its insurance subsidiaries SpareBank 1 Livsforsikring and SpareBank 1 Skadeforsikring. SpareBank 1 Livsforsikring achieved its best ever pre-tax profit due to better risk and administration results, while SpareBank 1 Skadeforsikring's profit improved significantly from a lower claims ratio and higher financial income. A decision was made to more closely integrate the P&C and life insurance businesses to develop comprehensive customer services.
Dabur Q4FY14 results in line with expectations by Motilal OswalIndiaNotes.com
Dabur’s 4QFY14 results were in-line with expectation on the back of continued robust volume growth of 9.2% in domestic FMCG business and 9.4% in the consolidated entity (est. 10%). Consolidated net sales grew 15.5% to Rs17.7b (est. Rs17.9b).
The document provides an overview of Momentum Metropolitan Holdings Limited's 2014 year-end results. It summarizes the challenging operating environment in South Africa and the insurance industry. Financially, the group achieved strong growth in profits, new business, dividends and return on embedded value. Each of its operating divisions, including Momentum Retail, Metropolitan Retail, Momentum Employee Benefits and Metropolitan Health delivered solid results. The group also outlined its capital management strategy and transition to a new client-centric operating model effective July 2014. Its strategic focus remains on enhancing client-centricity and financial wellness.
Voya Financial held an investor presentation on May 7, 2014 to discuss its first quarter 2014 results. The presentation highlighted that Voya achieved higher expected capital generation, repurchased $265 million in shares, and rebranded from ING U.S. to Voya Financial in April 2014. Voya's ongoing business adjusted operating return on equity remained steady at 10.3% for both the first quarter and trailing twelve months of 2014, consistent with its full year 2013 results and on track to meet its 2016 target. Retirement solutions continued its re-pricing strategy in tax-exempt markets and leveraged a rebuilt sales force.
A process that allows multiple private and public organizations to lower their debt and improve their financial deficit by the means of asset transfer, equity exchange or increased payment time is known as debt restructuring. The following presentation provides an overview of the entire process of debt restructuring and how an organization can use it as tool to lower the debt. Initially this presentation provides an overview of the organization, its services and financial performance. These financial parameters can be revenues, gross profit, net profit and earning per share. Once the overview is provided the following the organization then needs to perform an in depth analysis of its current financial performance Multiple key aspect of the performance are covered such as the Income Statement, balance sheet, cash flow statement and other key ratios are captured. These ratios can be Price to Earning Ratio, Stock Turnover Ratio, Account Receivable Ratio, Creditor Turnover Ratio, Return on Equity and Account Payable Ratio. Once the financial performance is analyzed multiple options that can help the organization to recover from their debts are considered. These methods can be Merger and Acquisition, Debt Restructuring, Financial Restructuring and Bankruptcy. After Identifying multiple methods, a comparative analysis of these options is performed. After careful analysis debt restructuring is chosen to be the best option for the organization. After choosing debt restructuring as an option the organization initially studies the entire process of the same. The organization first goes through stabilization phase in which various pain points of the organization are identified and existing debt are reviewed. After that in preparation stage multiple regulatory requirements are identified and communication method for shareholder are considered. In the final stage Implementation, the actual process of debt restructuring begins as three major ways of debt restructuring transfer of Asset, Exchange of equity and Increase in payment time are studied. In the end multiple risk associated to debt restructuring are evaluated and mitigation strategies for the same are considered. The impact of debt restructuring is also evaluated and multiple KPIs Key performance indicators are decided to study the overall effect of debt restructuring. https://bit.ly/2NBhd1T
Aeroplan is transforming its Canadian coalition loyalty program to focus on delivering greater member value. The transformation includes new 10-year agreements with TD and CIBC to be the exclusive issuers of Aeroplan credit cards. This provides a stable platform for growth. The changes are aimed at addressing points of vulnerability and providing a differentiated experience through a multi-year effort to rework the member experience. The goal is modest membership growth and higher revenues by upgrading members to drive more strategic use of miles and deliver outstanding value to members and partners.
- Amdocs reported quarterly revenue of $711 million, in line with their guidance of $700-720 million. Their non-GAAP operating income was $128 million with an 18% margin.
- Their 12-month backlog was $2.37 billion. For the third quarter, they expect revenue of $670-690 million and non-GAAP EPS of $0.46-0.50.
The document provides an overview of financial statements and accounting. It discusses the key players in a business, the accounting system and financial statements. The four basic financial statements are the balance sheet, income statement, statement of retained earnings, and statement of cash flows. It also discusses accounting principles, auditing, business entities, careers in accounting and related topics.
SpareBank 1 Gruppen reported a pre-tax profit of NOK 786.6 million in 2012, more than double the 2011 profit, due to improved results from its insurance subsidiaries SpareBank 1 Livsforsikring and SpareBank 1 Skadeforsikring. SpareBank 1 Livsforsikring achieved its best ever pre-tax profit due to better risk and administration results, while SpareBank 1 Skadeforsikring's profit improved significantly from a lower claims ratio and higher financial income. A decision was made to more closely integrate the P&C and life insurance businesses to develop comprehensive customer services.
Dabur Q4FY14 results in line with expectations by Motilal OswalIndiaNotes.com
Dabur’s 4QFY14 results were in-line with expectation on the back of continued robust volume growth of 9.2% in domestic FMCG business and 9.4% in the consolidated entity (est. 10%). Consolidated net sales grew 15.5% to Rs17.7b (est. Rs17.9b).
The document provides an overview of Momentum Metropolitan Holdings Limited's 2014 year-end results. It summarizes the challenging operating environment in South Africa and the insurance industry. Financially, the group achieved strong growth in profits, new business, dividends and return on embedded value. Each of its operating divisions, including Momentum Retail, Metropolitan Retail, Momentum Employee Benefits and Metropolitan Health delivered solid results. The group also outlined its capital management strategy and transition to a new client-centric operating model effective July 2014. Its strategic focus remains on enhancing client-centricity and financial wellness.
This document provides an overview of a paint manufacturing company that is planning an IPO. It discusses the company's history since 2000, product portfolio, financial performance from 2016-2020, and plans for utilizing funds raised from the IPO. Key details include steady revenue growth, increasing profits and cash flows, a diverse product range offered under the brand "Indigo", and plans to use IPO proceeds for expansion and debt repayment.
We have picked up HUL balance sheets of years from ACE-Equity and applied some ratio analysis to analyze the trend and predict next year results of the company.
Unisys Corporation reported financial results for Q4 2008 and full year 2008. For Q4, revenue was $1.28 billion and the company reported a net loss of $58.0 million. For the full year, revenue was $5.23 billion and the company reported a net loss of $130.1 million. The company is taking actions to reduce costs by more than $225 million annually through measures like headcount reductions and facility consolidations. The company generated $255 million in operating cash flow for the full year, up 47% from 2007. Under its new CEO, Unisys is focusing resources in fewer markets and solutions to improve profitability.
Credit Corp (CCP) - leading indicators in consumer debt recovery sector George Gabriel
BBY Limited provides a report on Credit Corp Group Limited (CCP), an Australian debt collection company. The report defines BBY's leading indicator of downturn in the debt collection sector, called "BBY's PDL market penetration leading indicator". The current indicator outlook for fiscal year 2011 is benign at 0.73%, suggesting limited near-term earnings risk for CCP. BBY upgrades its price target for CCP from $2.96 to $3.59 per share and maintains a "Buy" recommendation, but cautions that investors should rapidly exit if earnings concerns emerge given CCP's leverage to current operational performance.
This document discusses capital budgeting and the key concepts involved. It defines capital budgeting as the analysis of potential additions to fixed assets involving large long-term expenditures that are important to a firm's future. The document outlines the steps in capital budgeting as estimating cash flows, assessing risk, determining the weighted average cost of capital, and using net present value or internal rate of return methods. It also discusses the differences between independent and mutually exclusive projects and provides examples to illustrate capital budgeting methods and decisions.
This document summarizes Ameriprise Financial's fourth quarter and full year 2007 financial results. Net income for Q4 2007 increased 49% to $255 million compared to Q4 2006. Adjusted earnings for Q4 2007, which exclude separation costs, increased 9% to $274 million. For the full year, net income grew 29% to $814 million and adjusted earnings increased 12% to $968 million. Management fees and financial advice fees grew 25% in Q4 2007, while net revenues increased 8%. The company saw solid growth across its business segments.
Amdocs First Quarter Results for Fiscal 2009earningsreport
Amdocs reported quarterly revenue of $754 million, an increase of 1.6% year-over-year. However, revenue was below guidance of $785-$810 million due to weaker demand from telecom customers impacted by the economic downturn. Non-GAAP earnings per share of $0.55 met guidance and the company expects continued challenges in the next quarter with revenue guidance of $700-$720 million and non-GAAP EPS of $0.47-$0.51.
CIT Group Inc. reported strong first quarter results with diluted EPS of $0.98, up 29% from the prior year. Managed assets grew $8.7 billion to $58.8 billion. Credit quality remained strong with lower charge-offs and delinquencies. Based on the strong performance, CIT raised its EPS growth target for 2005 to 20%.
- Accenture reported financial results for Q4 FY2009, with revenues of $5.15B for Q4 and $21.58B for the full year.
- The company delivered record annual free cash flow of $2.92B and annual new bookings of $23.90B.
- Accenture increased its annual cash dividend by 50% to $0.75 per share and approved $4B in additional share repurchases.
- The document is JPMorgan Chase's earnings release and financial supplement for the first quarter of 2011. It provides key financial highlights and performance metrics for major business lines on a quarterly basis.
- For the first quarter of 2011, net income was $5.6 billion, an increase of 67% from the first quarter of 2010. Revenue decreased 8% to $25.2 billion compared to a year earlier.
- Return on equity was 13% in the first quarter of 2011, up from 8% in the same quarter last year. Capital ratios remained strong with the Tier 1 common ratio at 10.0%.
Morgan Stanley reported $928 million in net income for Q2 2005, down 24% from Q2 2004. Revenue was $6 billion, down 9% from the prior year. Business highlights included record results in prime brokerage and $3.8 billion in net new retail assets. While most business segments saw lower earnings, advisory revenues increased 10% and the company maintained its leading position in global M&A.
Morgan Stanley reported record first quarter results for 2006, with net revenues of $8.5 billion, up 24% from the previous year. Net income was $1.6 billion, a 17% increase, while diluted earnings per share were $1.54. All of Morgan Stanley's major business segments achieved record or near-record results, including Institutional Securities which saw a 36% rise in net revenues. The company directed additional resources to areas seeing major growth like emerging markets and leveraged finance. Morgan Stanley also continued international expansion and reorganized some business divisions to drive better performance.
This document is Sinopec Corp.'s 2012 annual report. It includes information such as the company's principal operations in exploration and production, refining, marketing, chemicals and more. It also provides key financial data for 2012 such as operating income, net profit, assets and liabilities. The report discloses changes in the company's share capital and its top shareholders. It aims to provide shareholders and investors an overview of Sinopec Corp.'s business and financial performance in 2012.
This document provides an overview of disinvestment as a financial strategy. It discusses the objectives and importance of disinvestment, including reducing the financial burden on the government and introducing competition. It also examines the discounted cash flow method for valuing disinvestments using a case study of Bharat Heavy Electricals Ltd. The analysis found that disinvestment improved the company's profitability and liquidity but negatively impacted its dividend payout ratio. In conclusion, disinvestment can help fund government programs and development while increasing operational efficiency of public sector companies.
- Klöckner & Co SE reported Q3 2012 results, with sales down 2.0% year-over-year to €1,847 million due to a 4.6% decline in Europe offset by 9.4% growth in the Americas. EBITDA was €19 million, below guidance due to further price pressure.
- The company plans to significantly expand the scope of its restructuring program to close approximately 60 sites, reduce headcount by over 1,800, and increase annual EBITDA by around €150 million starting in 2014.
- For the full year, sales are up 7.4% to €5,755 million due to organic growth in the Americas compensating for
Klöckner & Co - Roadshow Presentation November 2012Klöckner & Co SE
- Klöckner & Co SE reported flat sales in Q3 but EBITDA declined significantly due to continued price erosion.
- The scope of Klöckner's restructuring program will be expanded significantly, with the goal of achieving around €150 million in annual EBITDA savings by 2014.
- Klöckner will close approximately 60 sites and reduce its workforce by over 1,800 positions as part of the expanded restructuring effort.
The document provides financial information about Zip Zap Zoom Car Company over several years. It discusses the company's need to invest in upgrading technology and facilities to compete with increasing competition. It presents two views on determining the company's additional debt capacity. Mr. Shortsighted assumes a maximum 10% reduction in sales and 6% reduction in prices during a recession, and calculates the company can service Rs. 100 crore of additional debt. Mr. Longsighted argues a more probabilistic analysis of cash flows is needed that accounts for dividend payments and continued R&D/marketing spending. His analysis finds the company can service an additional Rs. 35 crore of debt while maintaining a 10% dividend with 95% certainty of adequate
- HDFC Bank reported total income of Rs. 24,263.4 crore and net profit of Rs. 3,926.4 crore for the financial year ended March 31, 2011.
- The directors recommended a dividend of Rs. 16.50 per share for the financial year ended March 31, 2011.
- During the year, 74.8 lac shares were allotted to employees pursuant to exercise of options under employee stock option schemes. The board approved a stock split of one share with a face value of Rs. 10 each into five shares of Rs. 2 each face value.
3i Infotech is an Indian IT company that provides software products and IT services. According to its financial statements:
- Revenue has grown significantly over the past 4 years at a CAGR of 61% through both organic growth and acquisitions.
- Profits have also increased substantially, with net profit margin growing from 0.14 to 0.22 between 2007-2008.
- However, debt levels have also risen considerably to finance growth, with total debt increasing from Rs. 546 crores to Rs. 1225 crores.
- While growth has been strong, the company needs to improve its cash flows and working capital management to support further expansion in a sustainable manner. Tighter
This document provides an overview of a paint manufacturing company that is planning an IPO. It discusses the company's history since 2000, product portfolio, financial performance from 2016-2020, and plans for utilizing funds raised from the IPO. Key details include steady revenue growth, increasing profits and cash flows, a diverse product range offered under the brand "Indigo", and plans to use IPO proceeds for expansion and debt repayment.
We have picked up HUL balance sheets of years from ACE-Equity and applied some ratio analysis to analyze the trend and predict next year results of the company.
Unisys Corporation reported financial results for Q4 2008 and full year 2008. For Q4, revenue was $1.28 billion and the company reported a net loss of $58.0 million. For the full year, revenue was $5.23 billion and the company reported a net loss of $130.1 million. The company is taking actions to reduce costs by more than $225 million annually through measures like headcount reductions and facility consolidations. The company generated $255 million in operating cash flow for the full year, up 47% from 2007. Under its new CEO, Unisys is focusing resources in fewer markets and solutions to improve profitability.
Credit Corp (CCP) - leading indicators in consumer debt recovery sector George Gabriel
BBY Limited provides a report on Credit Corp Group Limited (CCP), an Australian debt collection company. The report defines BBY's leading indicator of downturn in the debt collection sector, called "BBY's PDL market penetration leading indicator". The current indicator outlook for fiscal year 2011 is benign at 0.73%, suggesting limited near-term earnings risk for CCP. BBY upgrades its price target for CCP from $2.96 to $3.59 per share and maintains a "Buy" recommendation, but cautions that investors should rapidly exit if earnings concerns emerge given CCP's leverage to current operational performance.
This document discusses capital budgeting and the key concepts involved. It defines capital budgeting as the analysis of potential additions to fixed assets involving large long-term expenditures that are important to a firm's future. The document outlines the steps in capital budgeting as estimating cash flows, assessing risk, determining the weighted average cost of capital, and using net present value or internal rate of return methods. It also discusses the differences between independent and mutually exclusive projects and provides examples to illustrate capital budgeting methods and decisions.
This document summarizes Ameriprise Financial's fourth quarter and full year 2007 financial results. Net income for Q4 2007 increased 49% to $255 million compared to Q4 2006. Adjusted earnings for Q4 2007, which exclude separation costs, increased 9% to $274 million. For the full year, net income grew 29% to $814 million and adjusted earnings increased 12% to $968 million. Management fees and financial advice fees grew 25% in Q4 2007, while net revenues increased 8%. The company saw solid growth across its business segments.
Amdocs First Quarter Results for Fiscal 2009earningsreport
Amdocs reported quarterly revenue of $754 million, an increase of 1.6% year-over-year. However, revenue was below guidance of $785-$810 million due to weaker demand from telecom customers impacted by the economic downturn. Non-GAAP earnings per share of $0.55 met guidance and the company expects continued challenges in the next quarter with revenue guidance of $700-$720 million and non-GAAP EPS of $0.47-$0.51.
CIT Group Inc. reported strong first quarter results with diluted EPS of $0.98, up 29% from the prior year. Managed assets grew $8.7 billion to $58.8 billion. Credit quality remained strong with lower charge-offs and delinquencies. Based on the strong performance, CIT raised its EPS growth target for 2005 to 20%.
- Accenture reported financial results for Q4 FY2009, with revenues of $5.15B for Q4 and $21.58B for the full year.
- The company delivered record annual free cash flow of $2.92B and annual new bookings of $23.90B.
- Accenture increased its annual cash dividend by 50% to $0.75 per share and approved $4B in additional share repurchases.
- The document is JPMorgan Chase's earnings release and financial supplement for the first quarter of 2011. It provides key financial highlights and performance metrics for major business lines on a quarterly basis.
- For the first quarter of 2011, net income was $5.6 billion, an increase of 67% from the first quarter of 2010. Revenue decreased 8% to $25.2 billion compared to a year earlier.
- Return on equity was 13% in the first quarter of 2011, up from 8% in the same quarter last year. Capital ratios remained strong with the Tier 1 common ratio at 10.0%.
Morgan Stanley reported $928 million in net income for Q2 2005, down 24% from Q2 2004. Revenue was $6 billion, down 9% from the prior year. Business highlights included record results in prime brokerage and $3.8 billion in net new retail assets. While most business segments saw lower earnings, advisory revenues increased 10% and the company maintained its leading position in global M&A.
Morgan Stanley reported record first quarter results for 2006, with net revenues of $8.5 billion, up 24% from the previous year. Net income was $1.6 billion, a 17% increase, while diluted earnings per share were $1.54. All of Morgan Stanley's major business segments achieved record or near-record results, including Institutional Securities which saw a 36% rise in net revenues. The company directed additional resources to areas seeing major growth like emerging markets and leveraged finance. Morgan Stanley also continued international expansion and reorganized some business divisions to drive better performance.
This document is Sinopec Corp.'s 2012 annual report. It includes information such as the company's principal operations in exploration and production, refining, marketing, chemicals and more. It also provides key financial data for 2012 such as operating income, net profit, assets and liabilities. The report discloses changes in the company's share capital and its top shareholders. It aims to provide shareholders and investors an overview of Sinopec Corp.'s business and financial performance in 2012.
This document provides an overview of disinvestment as a financial strategy. It discusses the objectives and importance of disinvestment, including reducing the financial burden on the government and introducing competition. It also examines the discounted cash flow method for valuing disinvestments using a case study of Bharat Heavy Electricals Ltd. The analysis found that disinvestment improved the company's profitability and liquidity but negatively impacted its dividend payout ratio. In conclusion, disinvestment can help fund government programs and development while increasing operational efficiency of public sector companies.
- Klöckner & Co SE reported Q3 2012 results, with sales down 2.0% year-over-year to €1,847 million due to a 4.6% decline in Europe offset by 9.4% growth in the Americas. EBITDA was €19 million, below guidance due to further price pressure.
- The company plans to significantly expand the scope of its restructuring program to close approximately 60 sites, reduce headcount by over 1,800, and increase annual EBITDA by around €150 million starting in 2014.
- For the full year, sales are up 7.4% to €5,755 million due to organic growth in the Americas compensating for
Klöckner & Co - Roadshow Presentation November 2012Klöckner & Co SE
- Klöckner & Co SE reported flat sales in Q3 but EBITDA declined significantly due to continued price erosion.
- The scope of Klöckner's restructuring program will be expanded significantly, with the goal of achieving around €150 million in annual EBITDA savings by 2014.
- Klöckner will close approximately 60 sites and reduce its workforce by over 1,800 positions as part of the expanded restructuring effort.
The document provides financial information about Zip Zap Zoom Car Company over several years. It discusses the company's need to invest in upgrading technology and facilities to compete with increasing competition. It presents two views on determining the company's additional debt capacity. Mr. Shortsighted assumes a maximum 10% reduction in sales and 6% reduction in prices during a recession, and calculates the company can service Rs. 100 crore of additional debt. Mr. Longsighted argues a more probabilistic analysis of cash flows is needed that accounts for dividend payments and continued R&D/marketing spending. His analysis finds the company can service an additional Rs. 35 crore of debt while maintaining a 10% dividend with 95% certainty of adequate
- HDFC Bank reported total income of Rs. 24,263.4 crore and net profit of Rs. 3,926.4 crore for the financial year ended March 31, 2011.
- The directors recommended a dividend of Rs. 16.50 per share for the financial year ended March 31, 2011.
- During the year, 74.8 lac shares were allotted to employees pursuant to exercise of options under employee stock option schemes. The board approved a stock split of one share with a face value of Rs. 10 each into five shares of Rs. 2 each face value.
3i Infotech is an Indian IT company that provides software products and IT services. According to its financial statements:
- Revenue has grown significantly over the past 4 years at a CAGR of 61% through both organic growth and acquisitions.
- Profits have also increased substantially, with net profit margin growing from 0.14 to 0.22 between 2007-2008.
- However, debt levels have also risen considerably to finance growth, with total debt increasing from Rs. 546 crores to Rs. 1225 crores.
- While growth has been strong, the company needs to improve its cash flows and working capital management to support further expansion in a sustainable manner. Tighter
Klöckner & Co - German Corporate Conference 2013Klöckner & Co SE
- Klöckner & Co SE is a leading multi-metal distributor based in Germany.
- In Q3 2012, sales declined 2.0% year-over-year to €1,847m due to price erosion in Europe, though the US saw 9.4% growth.
- EBITDA was €19m, below guidance due to further price pressure, and the restructuring program is being expanded significantly.
Key Indicators of Unaudited Interim Condensed Consolidated Financial Statemen...Lenenergo IR
The document provides an overview of the unaudited interim condensed consolidated financial statements of JSC "Lenenergo" for the first half of 2010, showing increases in most key indicators including revenues, operating profit, EBITDA and net profit compared to the first half of 2009. Assets were $90.9 billion as of June 30, 2010, with non-current assets making up 90% and equity accounting for 53% of total equity and liabilities. Revenues grew 32% to $13.3 billion primarily from growth in electricity transmission and technological connection volumes.
ECE Industries Limited analyzes its financial statements for 2012 and 2011 across three categories: ratio analysis, common size analysis, and trend analysis. Ratio analysis shows the return on net worth improved to 3.44% in 2012 from -2.53% in 2011 due to improved tax management, leverage management, cost management, and asset management. Common size analysis indicates current assets increased 16% while current liabilities increased 71%, decreasing net current assets by 5%. Trend analysis shows the company eliminated debt in 2011 and has since increased fixed assets and cash while also increasing current assets and liabilities.
Klöckner & Co SE reported financial results for Q3 2012 that were below expectations due to continued price pressure reducing margins. While sales declined slightly in Europe but grew in the US, overall group sales were flat for Q3 year-over-year. EBITDA of €19m missed guidance due to price declines in September. The company plans to significantly expand the scope of its restructuring program to close approximately 60 sites, reduce headcount by over 1,800, and increase annual EBITDA by around €150m once fully implemented in 2014.
This document is the annual report of Britannia Industries Limited for the fiscal year 2011-2012. It summarizes the company's financial performance, listing a 24% increase in profit from operations and an 18% increase in sales of products. It also outlines the company's continued focus on cost management, revenue growth, and innovation. The report notes several accolades and awards received by Britannia during the year and discusses the consolidated financial results of the company and its subsidiaries.
This document is the condensed consolidated interim financial statements of Hyundai Capital Services, Inc. and its subsidiaries for the period ending March 31, 2021. It includes the condensed consolidated statement of financial position, condensed consolidated statements of comprehensive income, changes in equity, and cash flows, as well as notes to the financial statements. The independent auditors' review report verifies that the financial statements were prepared according to accounting standards and that the review did not find any material misstatements.
Financial analysis involves identifying the financial strengths and weaknesses of a firm through examining relationships between items in financial statements. It is used by various stakeholders like creditors, investors, and management. Financial statement analysis compares and interprets financial data over multiple periods to evaluate past performance, current financial position, and predict future performance. There are various techniques used in financial statement analysis including comparative statements analysis, common-size statements, ratio analysis, and trend analysis.
Goldman' Schawtz on FICC Trading. Very confident and skilful. Goldman Sachs has done the break down business by business and client by client. The bank has realized that they must be 'less Hedge Funds' and less 'NY-centric'. This is not a departure from the traditional market-making, it's more bi-directional targeting FICC <--Sales--> New Clients
I see no compromise possible.
GS has to wage a thermo nuclear war, retain the most Aggressive / fire the laggers in the cocoon.
WS pitch. Gives clarity on FICC From 05' to 09' industry wallet has doubled- GS is no. 1 but topped at 19%. Goldman FICC has maintained its 1st rank but both its share and revenues since have dropped ~50%.
- The company achieved steady growth in 2012 despite challenges from the slowing economy and weak capital markets. Total premiums grew to RMB995.8 billion, driven by growth in renewal premiums.
- The value of new business grew to RMB20.8 billion and in-force business value reached RMB209.1 billion. Both the individual and group insurance businesses saw steady growth, while the short-term business maintained its leading position.
- The company will focus on developing new business and enhancing business value in 2013, while promoting product innovation and service capabilities. It will also explore new business areas and leverage technology to drive sustainable development.
Analysis of Financial Statement of SNGCMaaz HaCeeb
Analysis of Financial Statement of SNGC to determined the financial position of the company and also compared it with their previous year whether company progress increases or decreases
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
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1. JBIMS – MFM 2nd Year Batch 1
Sambuddha Bandyopadhyay (10)
Dipesh Bhalavat (13)
Yashesh Bhatt (15)
Lawrence Cornelius (20)
Sushant Deshmane (24)
Amol Ghanekar (29)
Harshil Panchal (34)
Ashish Jain (39)
Nazirullah Khan (50)
Amit Mahadik (60)
2.
3.
4. Agenda
Learning The Financials of Oberoi Hotels Group.
Effects of Financials on Company.
Impact of IFRS on Oberoi.
5. Introduction
EIH Limited, under the aegis of The Oberoi Group, operates
29 hotels in five countries under the luxury ‘Oberoi’ and five-
star ‘Trident’ brands
Oberoi Hotels & Resorts is synonymous the world over with
providing the right blend of service & luxury
Internationally acclaimed for all-round excellence and
unparalleled services, Oberoi hotels and resorts have received
innumerable awards and accolades
The Group’s commitment to excellence, attention to detail and
personalized service has ensured a loyal list of guests and
accolades in the worldwide hospitality industry.
Listed in major stock exchanges like NSE & BSE with symbol
“EIHOTEL”
6. Shareholding pattern:
Pattern of Shareholding as on
31st March, 2012
Percentage of
Category Shareholding
(%)
Promoter Holding 75.00
Banks, Financial
Institutions and
0.02
Insurance
Companies
FIIs 14.40
Private Bodies
3.67
Corporate
Indian Individuals 6.71
NRIs/OCBs 0.20
7. Financials Performance for Group
Rs. Million FY12 FY 11
Total Revenue 1904.54 1763.42
EBIDTA 576.63 564.84
PAT 133.55 120.17
8. Analysis Of Financial Performance
Revenue from operations:
Results :- Growth of 8% in FY 2011- 12; Rs. 1904
million in 2011-12 vs Rs. 1763 million in 2010-11.
Reason The increase is mainly attributable to growth
in Travel and Tourism sector.
Cost of material consumed:
Results:- Growth of 15% in FY 2011- 12 154
million(s) – 2011-12 VS `134 million(s) – 2010-11. .
Reason: The increase is mainly attributable to
increase input cost and import duties that are not
fully absorbed through pricing.
9. Analysis Of Financial Performance
Contd…
Employee Cost :
Results :- 333.15 million(s) in FY 2011-12 as compared to
318.72 million(s) in FY 2010-11, an increase by 15 million(s)
in absolute terms.
Reason The increase mainly relates to normal yearly
increments, performance based payments, impact of wage
revisions and partly due to increased head counts.
Manufacturing and Other Expenses:
Results:- These expenses have increased to 865 million(s)
from 770.56 million(s) in FY 2010-11 .
Reason: The increases are mainly driven by volumes, size of
operations and also include inflation impact.
10. Analysis Of Financial Performance
Contd…
Other Income :
Results :Decreased to 28.76 million(s) from 29.60
million(s) in FY 2010-11
Reason: The decrease is attributable to decrease in
Interest on Income Tax Refund amount
Consolidated Profit Before Tax (PBT):
Results: Decreased to 175.28 million(s) in FY 2011-
12 compared to 182.86 in FY 2010-11.
Reason: mainly attributable to a slow growth rate in
tourisom industry and absence of significant
economic reforms.
11. Analysis Of Financial Performance
Contd…
Profit before Exceptional Item, Depreciation and
amortisation, Interest and Tax
Results: Decreased from 182.86 million(s) in FY
2010-11 to in 175.28 million(s) FY 2011-12
Finance cost
Results :increased by 20.0% to 274.11 from 254.53 of
FY 2010-11
Reason: steep depreciation of rupee against all
major currencies, Goodwill Impairment and other
costs are in respect of subsidiary companies
12. Analysis Of Financial Performance
Contd…
Long term borrowings:
Results : including the current portion increased to
1203.28 million(s) from 1137.08 million(s).
Reasons : The increase in current maturities of Long
term borrowings is attributable to Convertible
Alternative Reference Securities (CARS), which will be
due for redemption and fixed deposits.
Trade payables:
Results: were 30.34 million(s) as at March 31, 2012, as
compared to `34.03 million(s) as at March 31, 2011.
Reason: The decrease is attributable to volumes.
13. Analysis Of Financial Performance
Contd…
Other current liabilities:
Results :were 161.55 million(s) as at March31, 2012
as compared to 454.81 million(s) as at March 31,
2011.
Reason: The decrease is mainly due to decrease in
current maturities of long term debt.
Fixed Assets:
Results: The decrease (net of depreciation) in the
tangible assets of from 2916.86 million(s) to 2845.75
million(s) as at March 31, 2012.
Reason: No significant establishment of new
capability for new product plans of the Company.
14. Analysis Of Financial Performance
Contd…
Deferred tax assets:
Results: Gone down to 318.49 million(s) as at March
31, 2012 from 373.59 million(s) as at March 31, 2011.
Reason: The decrease is consequent to unabsorbed
depreciation.
Cash and bank balances:
Cash and bank balances were 103.26 million(s), as at
March 31, 2012 compared to 87.88 million(s) as at
March 31, 2011.
15. Analysis Of Financial Performance
Contd…
Current Assets:
Results: increased to 548.20 million(s) as at March
31, 2012 from 488.86 million(s) as at March 31, 2011.
Inventories:
Results:72.91 million(s) As of March 31, 2012 as
compared to 74.01 million(s) as at March 31, 2011.
Reasons: The decrease is mainly attributable to
volumes slow growth.
Trade Receivables (net of allowance for doubtful debts):
Results: were 163.80 million(s) as at March 31, 2012,
representing an increase of 149.92 million(s)
Reasons: which was attributable to increase in sales.
16. Analysis Of Financial Performance
Contd…
Short term loans and advances :
Results: Increased from 208.41 million(s) as at March
31, 2011 to 246.47 million(s) as at March 31, 2012.
Reasons: The increase is attributable to an increase in
VAT, other taxes recoverable statutory deposits and
other dues from government.
Reserves:
Results: Increased from 994.47 million(s) as at March
31, 2011 to 929.21 million(s)
Reasons: increase mainly due to strong performance
on a consolidated basis as explained above.
17. Final Analysis
Financial and Operating Performance:
• During the Financial Year 2011-2012, the Company’s Total Revenue
was Rs. 1904.54 million as compared to Rs. 1763.42 million in the
previous year. This represents an increase of 8%.
• The Earnings before Interest, Depreciation, Tax and Amortization
(EBIDTA) were Rs. 576.63 million as compared to Rs. 564.84 million
in the previous year, which is an increase of 2%.
• The Profit before Tax and Exceptional Item was Rs. 175.28 million as
compared to Rs. 182.86 million in the previous year.
• The Profit after Tax was Rs. 133.55 million as compared to Rs. 120.17
million in the previous year.
Foreign Exchange Earnings:
• During the Financial Year 2011-2012, the Foreign Exchange earnings
of the Company amounted to Rs. 1133.13 million as against Rs.
875.16 million in the previous year. The expenditure in Foreign
Exchange during the FY 2011-12 was Rs. 63.65 million as compared to
Rs. 47.44 million in the previous year.
18. Final Analysis (Contd…)
The Cash flow from Operating Activities:
A reduction in cash inflow has been observed in the FY 2011-12 which
was Rs. 543.48 million compared to Rs. 562.69 million in FY 2010-11.
The Cash flow from Investing Activities:
Cash outflow has been reduced to a large extent from Rs. 180.72 million
in FY 2010-11 to Rs. 83.14 million majorly driven by sale of Fixed Assets
and purchase of Investments. A cash inflow of Rs. 40.77 million is
registered in FY 2011-12 compared to a mere Rs. 2.49 million in the
previous financial year by selling some of its fixed assets which were of
not much use. Also, no major purchase of investments done in the FY
2011-12 as compared to Rs. 84 million in previous year.
The Cash flow from Financing Activities:
21% increase in cash outflow has been recorded in FY 2011-12 as the
outflow was Rs. 449.29 million in FY 2011-12 as against Rs. 372.58
million in previous year. Net increase in Cash and Cash Equivalents
from beginning of the year to end of the year is Rs. 11.04 million.
19. Net Results In A Nut Shell:-
LIABILITIES:
• Shareholder’s Funds:
• No major deviation observed as Rs. 994 million recorded
as against Rs. 929 million in FY 2010-11
• Non-Current Liabilities:
• A 9.34% rise seen in non-current liabilities over last
financial year as it increased to Rs. 1463 million from Rs.
1338 million
• Current Liabilities:
• Reduced from Rs. 1565 million to Rs. 1397 million due to
major decline in other liabilities
ASSETS:
• 12% increase in current assets has been registered in FY 2011-
12 whereas no significant change is observed in non-current
asset.
20. Impact Of IFRS On East India Hotels
(EIH) - Associated Hotels Limited
(A member of The Oberoi Group)
21. S.N. Heading IFRS IAS EIH Hotel’s policy Impact
1 Components of Following are Companies Act requires 1. Balance Sheet, Need to prepare
Financial components that preparation of: 2. Profit and Loss SOCIE and Statement
Statements together are considered 1. Balance Sheet, Account, and of Financial Position
as a complete set of 2. Profit and Loss Account, and 3. Notes to as well.
financial statements. 3. Notes to Accounts. Accounts.
1. Statement of Financial 4. Cash Flow
Position (Balance sheet), As per IAS 3, Level 1 enterprises Statement
2. Statement of are required to prepare a Cash
Comprehensive Income / Flow Statement using the direct
Income Statement (P&L or indirect method. SEBI
A/c.), mandates the use of indirect
3. Statement of Changes method for listed companies.
in Equity (SOCIE),
4. Statement of Cash
Flows,
5. Notes to A/c. and
6. Statement of Financial
Position
2 Consolidated IFRS considers It is not mandatory to prepare Both Standalone No Impact.
Financial Consolidated Financial Consolidated Financial and Consolidated
Statements Statements as the Statements under AS 21. Financial
General Purpose Statements are
Financial Statements. SEBI requires from listed prepared.
companies to submit
Consolidated Financial
Statements. Banking
Companies are also required to
prepare Consolidated Financial
Statements.
22. S.N. Heading IFRS IAS EIH Hotel’s Policy Impact
3 Provisions – Provision are discounted to Discounting of provisions is not Provisions are made at Provisions need to made
General Present value where the effect of permitted book value. at discounted value,
the time value of money is provisions to increase,
material profits to decrease.
4 Proposed Liability for dividends declared to Dividends are recognised as an Dividend as liability is Dividend to be
Dividend holders of equity instruments are appropriation from profits and recognised as an recognized as liability in
recognised in the period when recorded as liability at the appropriation from the year of declaration
declared balance sheet date, if declared profits and recorded and not the year for
subsequent to the reporting as liability at the which it is paid.
period but before approval of the balance sheet date,
financial statements.
23. S.N. Heading IFRS IAS EIH Hotel’s Policy Impact
5 Forex Rate a. Assets and liabilities, Translation depends on the Standalone: Transactions in forex The exchange differences
Changes translated at the closing classification of that operation as are recorded at the rates will be accumulated in
rate. integral or non integral. prevailing on the date of the 'foreign currency
b. Income and expenses Integral Ops : monetary assets transaction. Forex monetary translation reserve'
translated at exchange translated at closing rate; non-monetary assets and liabilities translated at instead of charging it to
rates at the date of items are translated at historical rate if year end exchange rates. Exchange P&L.
transactions; and valued at cost and at closing rate if differences arising on settlement
c. All resulting exchange valued on other valuation basis and of transactions and translation of
differences should be income and expense items are monetary items other than
accumulated in foreign translated at historical/ avg. rate. specified ones are recognized as
currency translation Exchange differences are taken to the income or expense in the year in
reserve until the statement of profit and loss. which they arise.
disposal of the
investment.
6 Forex a. Assets and liabilities, Non-integral operations : closing rate Consolidated : Assets and Income and expenses to
Rate translated at the closing method should be followed (i.e. all liabilities translated at rates be translated at
Changes rate. assets and liabilities are to be translated prevailing on the balance sheet exchange rates at the
b. Income and expenses at closing rate while profit and loss date. Income and expenditure date of transactions
translated at exchange account items are translated at translated at the average exchange instead of average
rates at the date of actual/average rates). rates for the year/month. exchange rates for the
transactions; and The resulting exchange difference is Exchange differences arising in year/month.
c. All resulting exchange taken to reserve and is recycled to profit case of integral foreign operations
differences should be and loss on the disposal of the non- are recognised in the Profit and Exchange differences
accumulated in foreign integral foreign operation. Loss Statement and exchange arising in case of all
currency translation differences arising in case of non foreign operations to be
reserve until the integral foreign operations are recognised in the foreign
disposal of the recognised in the Group’s currency transaltion
investment. Translation Reserve classified rserve instead of Profit
under Reserves and surplus. and Loss Statement.
24. S.N. Heading IFRS IAS EIH Hotel's Policy Impact
7 Consolidated All entities have to Consolidated Financial As a listed Company No impact
Financial prepare Consolidated Statements are mandated only with subsidiaries,
Statements Financial Statements by the regulator i.e. Securities EIH prepares both
under IFRS Exchange Board of India (SEBI) Standalone and
for listed companies Consolidated
Financial
Statements.
8 Accounting for Parent’s investment in a Investments in subsidiary Long term Investments if valued
Investment in subsidiary be accounted should be accounted for investments are at Book value can
Subsidiary for in the parent’s in accordance with AS 13, stated at cost less fetch higher value
separate financial Accounting for other than than at cost
statements (a) at cost, or Investments, which is cost as temporary valuation, which will
(b) as available-for-sale adjusted for any diminution diminution in value, lead to creation of
(i.e. Market Value) other than temporary in value if any. revaluation reserve.
of those investments
9 Contingencies Any events after balance Such events are required to be No such events In case any such
and Events sheet date of such nature disclosed in the report of the occurred / events occurs the
Occurring After that disclosure of them is approving authority, i.e. the reported. same needs to be
the Balance required to prevent the board report reported in the
Sheet Date financial statements from financial statements
being misleading, the itself along with is
entity should disclose financial impact.
nature of event and
estimate of its financial
effect.
25. S.N. Heading IFRS IAS EIH Hotel's Impact
Policy
10 Accounting for Initial direct cost Financial Lease : initial Finance lease : Increase in book
lease incurred by lesser to be direct cost incurred by Assets are value of leased
included in lease lesser to be either charged recognized at assets as such
receivable off at the time of the lower of the costs will be
amount in case of incurrence or to be fair value of the grouped in asset
finance lease and in the amortized over the lease leased assets at value instead of
carrying amount of the period. inception and charging it to
asset in case of operating Operating Lease : Initial the P&L, so profits
lease recognized as an direct costs incurred present value of too will be higher
expense over the lease specifically to earn minimum lease however
term on the same basis revenues from an payments. adjusted to
as the lease income. operating lease are either Operating lease increased
deferred and allocated to : Such leased depreciation on
income over the lease term assets are not leased assets.
in proportion to the recognized on
recognition of rent income, the Company’s
or are recognized as an Balance Sheet.
expense in the statement Payments under
of profit and loss in the operating leases
period in which they are are recognized in
incurred. the Profit and
Loss Statement
on a straight-line
basis over the
term of the
26.
27. The Indian Hotels Company
(IHCL)
• Founder of the Tata group : Jamsetji Tata,
• The company opened its first property :
The Taj Mahal Palace, in Bombay in 1903.
• The Taj, a symbol of Indian hospitality, completed its
centenary year in 2003.
• Taj Hotels Resorts and Palaces comprises 112 hotels in
53 locations
a) 25 Ginger hotels across India
b) 16 international hotels - Maldives, Malaysia,
Australia, UK, US, Bhutan, Sri Lanka, Africa and the
Middle East.
28.
29.
30.
31.
32.
33. FINANCIAL HIGHLIGHTS
Keywords 2011-12 2010-11
` crores ` crores
Gross Revenue 1,858 1,737.14
Profit Before Tax 229.92 221.45
Profit After Tax 145.35 141.25
Dividend 75.95 75.95
Retained Earnings 170.98 161.38
Total Assets 7,363.98 6,720.24
Net Worth 3,367.81 3,228.91
Borrowings 2,679.38 2,341.44
Debt : Equity Ratio 0.80:1 0.73:1
Net Worth Per Ordinary Share of ` 1/- each - In Rupees * 42.70 40.88
Earnings Per Ordinary Share (Basic & Diluted) - In Rupees 1.91 1.93
Dividend Per Ordinary Share - In Rupees 1.00 1.00
Dividend 100% 100%
* Excludes Warrants of ` 124.37 crores
34. INCOME
• The total income for the year ended March 31, 2012, at
1,858 crores was higher than that of the previous year by
8%.
• Room Income was higher than the previous year by 6%;
Food & Beverage (F&B) income also increased by 11%
over the previous year, enabled by a similar growth in
banqueting income.
35. DEPRECIATION AND FINANCE
COSTS
• Depreciation for the year was higher due to incremental
depreciation on the newly opened Vivanta by Taj -
Yeshwantpur, Bengaluru, as also on account of Taj
Falaknuma Palace, Hyderabad, being operational for the
full year and the ongoing renovations at the hotels.
• Finance Costs for the year ended March 31, 2012, net of
currency swap gains at ` 111.99 crores were lower than
the finance costs of the preceding year by ` 34.50 crores,
resulting from interest rate restructuring and increase in
capitalisation of interest on hotel projects under
construction.
36. PROFITS
• Profit before Tax at 341 crores was higher
than the previous year by 4%, whereas
Profit after Tax at 148 crores was higher by
3%.
37. CONSOLIDATED FINANCIAL
RESULTS
• The consolidated turnover of the Company for the year ended March 31, 2012
aggregated to ` 3,503.65 crores as against ` 2,932.20 crores for the previous year.
Profit after Tax aggregated to ` 3.06 crores for the year as against the Loss after Tax
of ` 87.26 crores for the previous year.
• The consolidated turnover increased by 19% on account of launch of new hotels
during the year by the Company, as also due to the change in status of certain
companies from associates to subsidiaries. The Company, during the year, had
increased its stake in Piem Hotels Limited, an associate; resultantly it has become a
subsidiary with effect from May 25, 2011. The foregoing has also resulted in certain
other companies’ status being changed to subsidiary. Among the Company’s domestic
subsidiaries, Piem Hotels Limited and Roots Corporation Limited improved their
turnover. The Company’s subsidiary in the flight catering segment also reported
growth in turnover as well. However, its profitability has been marginal due to the
continued turbulence in the aviation sector and a highly competitive environment.
The Company’s US hotels have shown marginal improvement in occupancies and
ARRs over the previous year, notwithstanding the continuing weakness in the US
economy. The Company is putting all its endeavours to turnaround the US portfolio
and make it profitable in the long term. The Company’s UK subsidiary continued to
register a good performance in line with the previous year.
38. DIVIDEND
• The Board of Directors are pleased to recommend a
dividend of 100% for the year ended March 31, 2012.
39. FIXED DEPOSITS
• The outstanding amount of Fixed Deposits placed with
your Company amounted to 286.00 crores. (Previous
year 354.18 crores) excluding 1.75 crores (previous year
0.28 crores), which remained unclaimed by depositors as
on March 31, 2012. Your Company has stopped
accepting/ renewing deposits from the general public
and shareholders.
40. CORPORATE GOVERNANCE
• As required by Clause 49 of the Listing Agreement with
the Stock Exchanges, the report on Management
Discussion and Analysis, Corporate Governance as well
as the Practising Company Secretary’s Certificate
regarding compliance of conditions of Corporate
Governance, forms part of the Annual Report.
41. BUSINESS OVERVIEW
• Global economic recovery is losing traction due to continuing Euro zone debt
crisis and the resultant austerity measures being taken by th
• Domestically, the state of the economy is a matter of growing concern with
slowing economy, persistently high inflation, uncertain political environment and
depreciation of the Indian Rupee weakening the overall economic sentiment of the
country.
• The International tourists arrival worldwide has grown to 980 million in 2011,
4.4% above 2010 and is forecasted to grow at a moderate pace in 2012. Emerging
economies of South Asia, South-East Asia and South America led the tourism
growth with 12% increase in International tourists arrivals.
• In the year 2011, the tourism sector in India witnessed a growth as compared to
2010. The Foreign Tourist Arrivals in India during 2011 were 6.29 million which
translates to a 9% growth over the previous year. Foreign Exchange Earnings from
tourism grew from ` 64,889 crores during 2010 to ` 77,591 crores in 2011,
registering a growth of 19.6%. The domestic tourist traffic is also estimated to
have increased by approximately 9% to 804 million during 2011.
• The Taj Group launched 5 new Vivanta by Taj hotels during the year at Srinagar,
Yeshwantpur - Bengaluru, Coimbatore, Begumpet - Hyderabad and Bekal -
Kerala. Ginger Hotels currently has a portfolio of 24 hotels with a room inventory
of approximately 2345 rooms. Projects for new Ginger hotels are at various stages
of construction in Bengaluru, Noida, Jaipur, Faridabad, Greater Noida,
Chandigarh and Amritsar. The inventory of the Taj Group of Hotels now stands at
112 hotels with 13,629 rooms. e Euro zone countries.
ARR: Average Rate RoomRevPAR: Revenue Per Available Room is a performance metric in the hotel industry, which is calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate. It may also be calculated by dividing a hotel's total guestroom revenue by the room count and the number of days in the period being measured.
Non – Operating Income: The portion of an organization's income that is derived from activities not related to its core operations. Non-operating income would include such items as dividend income, profits (and losses) from investments, gains (or losses) incurred due to foreign exchange, asset write-downs and other non-operating revenues and expenses. F & B: Food and Beverage.Management Fees: A charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise. It can also include other items such as investor relations expenses and the administration costs of the fund.