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India Tourism Development Corporation Ltd.

BSE: 532189 Sector: Services
NSE: ITDC ISIN Code: INE353K01014
BSE 00:00 | 19 Oct 229.30 0.45
(0.20%)
OPEN

226.50

HIGH

230.00

LOW

225.15

NSE 00:00 | 19 Oct 228.85 0.10
(0.04%)
OPEN

228.25

HIGH

229.75

LOW

220.60

OPEN 226.50
PREVIOUS CLOSE 228.85
VOLUME 1213
52-Week high 419.30
52-Week low 104.95
P/E 369.84
Mkt Cap.(Rs cr) 1,967
Buy Price 227.35
Buy Qty 27.00
Sell Price 229.30
Sell Qty 175.00
OPEN 226.50
CLOSE 228.85
VOLUME 1213
52-Week high 419.30
52-Week low 104.95
P/E 369.84
Mkt Cap.(Rs cr) 1,967
Buy Price 227.35
Buy Qty 27.00
Sell Price 229.30
Sell Qty 175.00

India Tourism Development Corporation Ltd. (ITDC) - Company History

ITDC was incorporated in the year March 31st 1965. The Company is running hotels restaurants at various places for tourists besides providing transport facilities. In addition the Company is engaged in production distribution and sale of tourist publicity literature providing entertainment duty free shopping facilities to tourists hospitality & tourism management of the Company imparting training and education in the field of tourism and hospitality through Ashok Institute of Hospitality & Tourism Management etc. As on 31 March 2019 the Corporation has four subsidiary companies viz; Pondicherry Ashok Hotel Corporation Ltd; Ranchi Ashok Bihar Hotel Corporation Ltd.; Utkal Ashok Hotel Corporation Ltd. and Punjab Ashok Hotel Company Ltd. The Hotel Units were set up under the aforesaid subsidiary companies at Puducherry and Ranchi respectively.During the year 2015 ITDC has given a loan of Rs 732320/- at a rate of interest of 12.5% per annum to M/s Utkal Ashok Corporation Ltd. a joint venture subsidiary of ITDC for meeting out statutory obligations and day-to-day expenditures.The capital expenditure incurred during 2015-16 was Rs 13.82 crore out of which Rs 6.88 crore was capitalized and Rs 6.94 crore was charged to revenue.During the year 2016 ITDC released loan of total Rs 35250000/- at a rate of interest of 12.5% per annum to M/s Utkal Ashok Hotel Corporation Ltd. a joint venture subsidiary of ITDC for meeting out VRS liability of employees payment of outstanding salaries of staff statutory obligations and day-to-day expenditures.During the year 2015-16 the Sound & Light Show Division undertook preparation of Detailed Project Report for Sarkhej Roza in Gujarat; upgradation of Red Fort Delhi and Brahmakund Vrindavan UP. The division also undertook the assignments of Impact Assessment of the Sound and Light equipments on the monuments which is an essential requirement of the Archaeological Survey of India. So far the Impact Assessment Reports for Champaner and Sarkhej Roza in Gujarat were prepared and submitted by the Division.The Sound & Light Show Projects at Kanke Dam in Ranchi and Dhauli in Odisha have been completed and commissioned in FY 2015-16. SEL Projects in Maharashtra Madhya Pradesh Chhattisgarh Rajasthan Tripura Punjab and Haryana are in the pipeline. During the financial year 2016-17 the Corporation operated 8 hotels.During the year 2017 ITDC released loan of Rs. 1350000/- on 08th April 2016 at a rate of interest of 12.5% per annum to M/s Utkal Ashok Hotel Corporation Ltd. a joint venture subsidiary of ITDC for meeting out payment of outstanding salaries of staff statutory obligations and day-to-day expenditures.As per decision dated May 24 2017 of the Cabinet Committee of Economic Affairs property of Hotel Janpath is to be handed back to the Ministry of Urban Development. ITDC is to be compensated for loss of business opportunity with disputed liability to be sorted out. The exact financial implication of the project would be worked out in accordance with all stakeholders including the Ministry of Tourism Ministry of Urban Development NDMC and L&DO etc. As per MoU signed on April 27 2017 Hotel Bharatpur Ashok being a managed and material property of ITDC was transferred to Rajasthan Government on April 30 2017 (Transfer Agreement is to be executed shortly). The carrying amount of assets as on 31 March 2017 of Hotel Bharatpur Ashok was Rs. 55.51 lakh liabilities of Rs. 76.69 lakh Revenue of Rs. 110.10 lakh and net loss of Rs. 21.17 lakh.ITDC has transferred its Non Current Investments - Equity Shares of Subsidiary Companies -AssamAshok Hotel Corporation Limited (AAHCL 51% Equity) and Madhya Pradesh Ashok Hotel Corporation Limited (MPAHCL 51% Equity) on June 29 2017 to their respective State Government. The Investments have been transferred at a consideration of: AAHCL Rs. 214 lakh (Profit Rs. 163 lakh) and MPAHCL Rs. 1259 lakh (Profit Rs. 1177.40 lakh).The process of disinvestment is going on in respect of: Hotel Pondicherry AshokHotel Jaipur Ashok Hotel Lalitha Mahal Palace Hotel Kalinga Ashok Hotel Donyi Polo Ashok Hotel Patliputra Ashok Hotel Ranchi Ashok Hotel Nilachal Ashok and incomplete Hotel Projects - Hotel Anandpur Sahib and Hotel Gulmarg Ashok. Registrar of Companies has issued a public notice dated 27April 2017 pursuant to section 248 of Companies Act 2013 proposing to remove /strike off the name of Joint Venture ITDC Aldeasa India Private Limited from the Register of Companies. ITDC as a Joint Venture partner has submitted to the Registrar of Companies that the company i.e. ITDC Aldeasa India Private Limited is not doing any business.During the year 2017 the Company had an exclusive Ashok Consultancy & Engineering Services (ACES) Division for execution of engineering works. The division constructed a state of art swimming pool along with change room in Hotel Samrat and construction of Centre of Excellence at Hotel Samrat. This Institute offers a 3-year degree course in Hotel Management along with necessary infrastructure. The division renovated 48 guest rooms on fifth floor of Annexe Building along with toilets in Ashok Hotel. Also the Strengthening work of external faade of Hotel Samrat was taken up for safety purpose. Convention Centre at Hotel Ranchi Ashok Ranchi sanctioned by MoT under CFA and Development of Ranchi Saraikela Kharsawan Purbi Singhbhum Mega Tourist Circuit Jharkhand Phase I & II sanctioned by the Ministry of Tourism were completed. Construction of Art Gallery and Museum at Ludhiana sanctioned by the Ministry of Culture for Construction of Memorial of Smt. Vidyawati Jiat Moranwali Punjab sanctioned by Ministry of Culture was also completed. The Infrastructure Development Project under Mega Circuit Development Scheme in the Puri Sector sanctioned by Odisha State Government has been started and some of the tenders have been floated.During the year 2018 ITDC signed Share Transfer Agreement on 17th May 2018 for transferring its 51% equity stake in Donyi Polo Ashok Hotel Corporation Ltd. to the Govt. of Arunachal Pradesh. As on 31 March 2018 the Corporation has five subsidiary companies viz. Donyi Polo Ashok Hotel Corporation Ltd; Pondicherry Ashok Hotel Corporation Ltd; Ranchi Ashok Bihar Hotel Corporation Ltd.; Utkal Ashok Hotel Corporation Ltd. and Punjab Ashok Hotel Company Ltd. The Hotel Units were set up under the aforesaid subsidiary companies at Itanagar Puducherry and Ranchi respectively.During the financial year 2017-18 the Corporation operated only 6 hotels. Of which two hotels i.e. Hotel Janpath New Delhi and Hotel Jaipur Ashok Jaipur have been disinvested/closed during the year 2017-18.During the year 2017-18 12 duty free shops were in operation at seaports i.e. at Goa Haldia Kolkata Chennai Mangalore Vishakhapatnam Mumbai Paradip Kakinada Cochin Krishnapatnam and Tuticorin in A.I T. Division.During the year 2018-19 13 duty free shops were in operation at seaports i.e. Goa Haldia Kolkata Chennai Mangalore Visakhapatnam Mumbai Paradip Kakinada Cochin Krishnapatnam Tuticorin and Kamarajar in A.I.T. Division.During the year 2018-19 ITDC released loan of total Rs 700000/- on 25th June 2018 at a rate of interest of 12.5% per annum to M/s Utkal Ashok Hotel Corporation Ltd. a joint venture subsidiary of ITDC for meeting expenditure of Security Services Miscellaneous Expenses and Legal Expenses. In ITDC Board Meeting held on 14th February 2019 a loan of Rs10 lakh was approved to M/s Utkal Ashok Hotel Corporation Ltd. @ rate of interest of 12.5% per annum or such revised rate after reconsideration by ITDC. It was approved that this loan of Rs 10 lakh would be disbursed in installments on the request of M/s UAHCL. On the 01st March 2019 a loan of Rs 250000 was released to M/s Utkal Ashok Hotel Corporation Ltd.During the year 2018-19 the Ashok Hotel Division New Delhi renovated and relocated its cake shop to Tea Lounge area for better visibility and presentation. Installation of two new lifts and two new 500 TR air-conditioning plants was undertaken. Upgradation of STP plant with new technology was done. For initiative towards energy saving replacement of Banquet Hall lights & Corridors with new LED lights was done. DPCC licence for 05 years was granted by DPCC and Fire NOC has been renewed for three years. M/s BSI have been appointed for the kitchens of The Ashok Hotel Samrat Vigyan Bhawan and Hyderabad House.During the year 2018-19 e- tendering was done for the vacant F&B outlets/spaces were licensed out. Health Club/Spa has been successfully licensed out after e-auction and has been handed over to the successful bidder. Night Club/Disco at the Lobby level has been licensed out and presently operating by the name `SOHO'. The Mediterranean Cuisine restaurant near amphitheatre and The South Indian Restaurant has also been licensed out.During the year 2018-19 the Hotel Samrat division New Delhi hosted/ associated in various important events some of which were organised by Medical & Wellness Tourism Board National Tourism Advisory Council Indian Convention Promotion Bureau Kendriya Vidyalaya Sangathan National Company Law Tribunal ONGC Steel Authority of India Association of Domestic Tourism Operators of India UNICEF etc. Packed meals of Hotel Samrat have become very popular. Upgradation of certain sections of food production area has been done as per ISO standards. Tendering process has been undertaken for renovation of 48 nos. guest rooms & toilets. Parking Area has been developed. A Discotheque/Club has been opened by the name `KEY' on license basis. In FY 2018-19 the Hotel Jammu Ashok Jammu hosted VIPs and dignitaries conferences and other events in the hotel. The culinary team of the hotel also organized food festival. During FY 2018-19 the Chefs of ITDC participated in many International Food Festivals hosted abroad such as Bangkok (Thailand) Hua Hin (Thailand) Tunisia Koh Samui (Thailand) Chiang Mai (Thailand) Mexico Havana (Cuba) Almaty (Kazakhstan). In FY 2018-19 food festivals and promotions were organized in ITDC hotels to exhibit the richness of the cuisines of its country and to display the fineries of gastronomy. Some of these were IPL Special Express Lunch Ramzaan-ul-Mubarak Burgers & Chillers Khyber Ki Peshkash Christmas & New Year Eve Women's Day Celebration Rakhi & Independence Day Promotion Valentines Week Navratra Thali Easter Special Goodies Andaaz-e-Oudh Nazraane-e-Kabab Awadhi Thali Children's Day. Special are some of the Food Festival promotions done at The Ashok New Delhi Biryani Festival at Hotel Kalinga Ashok Bhubaneswar Punjabi Food Festival at Hotel Jammu Ashok Jammu.During the year 2019 the Ashok Travels and Tours Division (ATT) opened its new outlet at Ashok Hotel shopping arcade to provide all travel related services from a convenient location subsequent to handing over of Hotel Janpath to MoUD. The ATT Division had ventured into Cargo operations and has already handled some important and sensitive Cargo through Sea Air and Surface successfully.During the year 2019 the Ashok Consultancy & Engineering Services completed more than 100 tourism infrastructure projects throughout the country and has also prepared 87 Detailed Project Reports in the tourism field so far. The Division is well equipped in preparing Economic Feasibility Report Management Consultancy Advisory Services and Consultancy for Tourism infrastructure works. Besides this the division maintains and upgrades all ITDC properties located in different States. It undertakes projects under Central Financial Assistance (CFA) PRASAD scheme Swadesh Darshan and from various Ministries and State Governments for development of tourism infrastructure in the country. As a strategy the division besides its Govt. clientele base focused on the private sector and obtained first of its kind tourism infrastructure project for an amount of Rs. 550 crore near Kakinada in Andhra Pradesh in the year 2018-19 for developing an island into a complete tourist destination. The DPR to this mega project has been prepared in house and submitted to the client in Nov. 2018. Division submitted its DPRs for Ramayana Circuit in Badhrachalm Telangana to Ministry of Tourism in June 2018 and for award of work i.e. Motihari and Jahanabad in the State of Bihar.

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