Cindrella Hotels Management Discussions

Cindrella Hotels Limited is a listed entity involved in hospitality, travel and tourism sector and operating a hotel of considerable repute at Siliguri in north Bengal and its sphere of business activities also encompassing Darjeeling district, state of Sikkim and Bhutan. A portion of its revenues also comes from sale of food and beverages at its restaurant and operation of health club, park rental for marriages and other occasions, which are all clubbed into the sale of services category. It is also engaged in the business of selling tour packages to both domestic and international travelers.


The Company has successfully taken advantage of the increased tourist interest and inflow by developing/offering attractive travel packages at lucrative rates for both domestic and foreign visitors. The Company saw the possibility of boosting its earnings from occasions such as marriage receptions, fairs etc. over and above the rentals. Thus in order to take advantage of the return to normalcy and maximize its earnings, the Company has commenced its own catering of food and beverages at such occasions/events. Natural disasters and probable political disturbances remain an imminent threat for the Companys business.


The current season falling under the F.Y. 2023-24 began on a very encouraging note with high tourist inflow into the region resulting in fairly positive earnings for the Company in the summer season of 2023 and the Company expects that this will continue into the coming seasons too. This coupled with relaxation of restrictions imposed under implementation of COVID 19 protocols as per guidelines laid down by the Government of India in this regard and high marriage venue bookings is expected to allow the Company to generate higher event based earnings i.e. rentals from occasions such as marriage receptions, fairs etc including sales of food and beverages thereat. Therefore the current year is expected to be more profitable.


The companys objectives, projections, estimates and expectations as stated herein are in the nature of ‘forward looking statements within the meaning applicable under the securities laws and regulations. As ‘forward looking statements are based on certain assumptions and expectations of future events over which the company exercises no control, the company cannot guarantee their accuracy nor can it warrant that the same will be realized by the company. Actual results could differ materially from those expressed or implied. Significant factors that could make a difference to the companys operations include domestic and international economic and political conditions affecting the industry, changes in foreign exchange rates, government regulations, tax regimes and other statutes.


This is not applicable in the area of operations of your company.


The Company has proper internal controls systems and its adequacy has been reported by its auditors in their report. The companys internal control systems are commensurate with the nature of its business and the operations.

Systems have been put in place to ensure that all the assets of the Company are safeguarded and protected against any loss and that all the transactions are properly authorized, recorded and reported. The Board duly considers and takes appropriate action on the recommendations made by the statutory auditors and the independent Audit Committee of the Board of Directors.


The Companys revenue from operations is Rs. 800.24 lacs and total income is Rs. 1072.84lacs for the year ended March 31, 2023 as compared to Rs. 537.39 lacs and Rs. 545.75 lacs respectively for the year ended March 31, 2022. Expenditure

The Companys total expenditure was to Rs. 753.49 lacs for the year ended March 31, 2023 as against Rs. 520.83 lacs for the year ended March 31, 2022.

Finance costs

Finance costs were Rs. 40.23 lacs for the year ended March 31, 2023 (previous year figure was Rs. 12.59 lacs).

Profit after tax

The Companys profit after tax is Rs. 257.70 lacs for the year ended March 31, 2023 as compared to profit of Rs. 36.78 lacs for the year ended March 31, 2022.


The earnings per share for the year ended March 31, 2023 was Rs. 7.23 as compared to Rs. 1.03 per equity share of Re.10 /- each in the previous year.


The industrial relations climate of the company continues to remain harmonious and cordial with focus on improving productivity, quality and safety.

Disclosures pertaining to remuneration and other details as required under Section197(12) read with Rule 5(1) of Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014

Sl. No.

Name of the Director/KMP and Designation

Remuneration of Director/KMP for financial year 2022- 23 (Rs In lakhs) % Increase in Remuneration in the Financial year 2022- 23

Ratio of remuneration of each director/ median remuneration of employees

Comparison of the Remuneration ofthe KMP against the performance of theCompany


Sangita Devi Baid, Director

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Vivek Baid, Managing Director

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Subhajit Mukherjee, Company Secretary & CFO

2.34 9.35%



The Company has 94 permanent employees on its rolls.