India Tourism Development Corporation Share Price

India Tourism Development Corporation Limited (ITDC) was incorporated in March, 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 2023, 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.ITDC is a Central Public Sector Enterprise (CPSE). Process of dilution of Government equity in CPSEs is undertaken by Department of Investment and Public Assets Management (DIPAM). DIPAM has already appointed SBI Capital Ltd. and IDBI Capital Ltd. jointly as the Merchant Banker and M/s Cyril Amarchand Mangaldas as the legal advisor for dilution of equity of Government of India in ITDC. ITDC is following with the Ministry of Tourism to pursue the matter with DIPAM for compliance of Minimum Public Shareholding norms in ITDC.During the year 2015, ITDC has given a loan of Rs 7,32,320/ 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 daytoday expenditures.The capital expenditure incurred during 201516 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 3,52,50,000/ 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 daytoday expenditures.During the year 201516, 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 201516. SEL Projects in Maharashtra, Madhya Pradesh, Chhattisgarh, Rajasthan, Tripura, Punjab and Haryana are in the pipeline. During the financial year 201617, the Corporation operated 8 hotels.During the year 2017, ITDC released loan of Rs. 13,50,000/ 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 daytoday 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 LDO 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. 1,259 lakh (Profit Rs. 1,177.40 lakh).The process of disinvestment is going on in respect of: Hotel Pondicherry Ashok,Hotel 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 3year 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 201718, 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 201718.During the year 201718, 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 201819, 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 201819, ITDC released loan of total Rs 7,00,000/ 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 2,50,000 was released to M/s Utkal Ashok Hotel Corporation Ltd.During the year 201819, 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 airconditioning 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 201819, e tendering was done for the vacant FB outlets/spaces were licensed out. Health Club/Spa has been successfully licensed out after eauction 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 201819, 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 201819, 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 201819, 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 201819, 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, RamzaanulMubarak, Burgers Chillers, Khyber Ki Peshkash, Christmas New Year Eve, Womens Day Celebration, Rakhi Independence Day Promotion, Valentines Week, Navratra Thali, Easter Special Goodies, AndaazeOudh, NazraaneeKabab, Awadhi Thali, Childrens 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 201819 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. The Hotels, Ashok, New Delhi resumed w.e.f. 24th August 2020. As per Disinvestment Policy of the Government of India, 9 hotel properties including 3 Joint Venture Hotel properties (viz Hotel Lake View Ashok, Bhopal Hotel Brahmaputra Ashok, Guwahati, Hotel Bharatpur Ashok, Bharatpur, incomplete hotel project at Gulmarg, Hotel Janpath, New Delhi, Hotel Jaipur Ashok, Jaipur, Lalitha Mahal Palace Hotel, Mysore, Hotel Pataliputra Ashok, Patna and Hotel Donyi Polo Ashok, Itanagar) were transferred/handed over to the respective State Governments so far. Kandla Seaport Duty Freeshop commenced operations in FY 202122. Hotel Samrat operated a Food Beverage stall at Amrit Udyan (Rashtrapati Bhawan) from 31.01.2023.