Thomas cook India Limited
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Thomas Cook (India) Limited (TCIL) is an integrated travel and travel related financial services company offering a range of services that include foreign exchange, corporate travel, Manipal Institute of Computer Education (MICE), leisure travel and insurance, Visa & Passport Services and Call Centre through its network across India and also at Sri Lanka. The Company operates in two segments: Financial services, which include purchase and sale of foreign currencies and paid documents, and Travel and related services, which include retail purchase and sale of foreign currencies and paid documents, tour operations, travel management and travel insurance. The Company subsidiaries include Travel Corporation (India) Limited, Thomas Cook Insurance Services (India) Limited, Indian Horizon Travel and Tours Limited, Thomas Cook Tours Limited, Thomas Cook (Mauritius) Holding Company Limited and Thomas Cook (Mauritius) Operations Company Limited.
Thomas Cook (India) Limited, launched in 1881, is one of the largest Travel and Financial Services Company in the country offering a broad spectrum of travel-related services that include Foreign Exchange, Corporate Travel, Leisure Travel, and Insurance. Company Analysis:
According to the Consolidated - Audited financial statement for the Year of 2010, total net operating revenues increased with 24.57%, from INR 273.75 tens of millions to INR 341.02 tens of millions. Operating result increased from INR 64.64 tens of millions to INR 99.32 tens of millions which means 53.65% change. The results of the period increased 152.19% reaching INR 47.16 tens of millions at the end of the period against INR 18.7 tens of millions last year. Return on equity (Net income/Total equity) went from 6.19% to 13.84%, the Return On Asset (Net income / Total Asset) went from 3.94% to 8.70% and the Net Profit Margin (Net Income/Net Sales) went from 6.83% to 13.83% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 159.15% compared to 157.28% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 1.90 to 2.32 when compared to the previous year.
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History Of ICTL:
- Midland Bank Ltd., a major British Bank quoted on the U.K. Stock Exchange, acquired a majority shareholding interest in Thomas Cook Group and the remaining shares in 1977 making it a wholly owned subsidiary with a public issued in 1982, its shareholding was diluted.
- The Company was incorporated on 21st October, under the name Thomas Cook (India) Private Ltd. It was converted into a public limited company on 12th March, 1979. The Company is authorised dealers in foreign exchange, travel agents, tour operators and freight operators.
- Thomas Cook was the first organised travel agent in the world and he also invested in travel business. He commenced business in the United Kingdom in 1841.
- Thomas Cook also introduced travellers cheques which were originally called circular notes. It also a large trader in the buying and selling of foreign currency bank notes. - The consideration for the transfer of business was discharged in the following manner - (i) Allotment of 2,79,993 No. of equity shares of Rs 10 each at par without payment in cash amounting to Rs 27,99,930 and (ii) Interest free loan repayable in five equal annual instalments amounting to Rs...
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