The Profit After Tax was marginally lower at Rs948.90lac in FY20 than Rs974.69lac in the previous fiscal year.
The company was on track for a record year but its operations were severely affected in the last quarter of FY20 on account of the disruptions caused by the Covid 19 pandemic and the subsequent restrictions and lockdowns.
For the quarter ended March 31, 2020, the company’s total income declined sharply to Rs755.91lac as against Rs1347.85lac for the same period in the previous year.
Sinclairs Hotels Ltd is currently trading at Rs37.90, down by Rs1.65 or 4.17% from its previous closing of Rs39.55 on the BSE.
“The company has strong fundamentals and is debt free. Other Equity (excluding Revaluation Reserve) stood at Rs9711.72lac (Rs9159.04lac) on a paid up equity share capital of Rs.557 lakh (Rs.557 lakh) as on March 31, 2020,” company said.
The Board of Directors has recommended a Dividend of 40% (i.e. Rs. 0.80 per Equity Share of Rs2 each fully paid up), subject to the approval of Shareholders at the ensuing Annual General Meeting.
The company’s equity share of Rs10 each has been recently sub-divided into five equity shares of Rs2 each to provide greater liquidity.
The company’s business has been severely impacted by the Covid 19 pandemic and all its properties were shut down during the lockdown phase as per Government guidelines.
With the easing of restrictions, the company has started re-opening its hotels in the non- containment zones in a phased manner, after establishing proper safety protocols.
The company expects demand to pick up at a slow pace driven by domestic business and leisure tourism, staycations and limited international tourism.