indian railway catering tourism corporation ltd share price Directors report
Dear Shareholders,
It gives us great pleasure to present, the 24th Annual Report on business and operations of Indian Railway Catering and Tourism Corporation Limited and its Audited Statements of Accounts for the financial year ended March 31, 2023 (FY23), together with the Auditors Report and Comments on the Accounts by the Comptroller and Auditor General (CAG) of India. The detailed financial and operational performance of the Company is produced in the report.
FINANCIAL PERFORMANCE
We feel delighted to convey that the Company reported highest Revenue from Operations for the financial year 2022-23 and also registered its highest ever net profit. The summarised financial performance of the Company during F.Y.2022-23 along with the corresponding performance of F.Y.2021-22 are mentioned below: Amount (Rs. in Lakhs)
| Particulars | F.Y. 2022-23 | F.Y. 2021-22 | % age Increase/ (Decrease) |
| Revenue from Operations | 3,541.57 | 1,879.48 | 88.52 |
| Total Income | 3,661.90 | 1,952.30 | 87.36 |
| EBITDA (Profit Before Exceptional Items, Finance Cost, Tax, | 1,396.65 | 953.56 | 47.11 |
| Depreciation & Amortisation) | |||
| Depreciation | 53.73 | 48.99 | 9.68 |
| Profit Before Tax & Exceptional Items | 1,326.81 | 893.52 | 49.18 |
| Profit before tax | 1,354.01 | 889.51 | 52.93 |
| Provision for Tax | 348.13 | 225.82 | 54.16 |
| Profit after tax | 1,005.88 | 663.69 | 52.51 |
| Interim Dividend | 280 | 160 | 75.00 |
| Final Dividend | 160 | 80 | 33.33 |
| General Reserve | 35 | 35 | - |
| Reserves & Surplus | 2,318.40 | 1,723.88 | 35.55 |
| Net Worth | 2,478.40 | 1,883.88 | 32.51 |
| Earnings Per Share (Rs.) | 12.57 | 8.30 | 52.55 |
Capital Structure
As on March 31, 2023, the authorized share capital of the Company stood at Rs. 250 Crores consisting of 125 Crores equity shares of Rs. 2/- each and paid-up share capital of the Company was Rs. 160 Crores consisting of 80 crore equity shares of Rs. 2/- each. During the year under consideration, the Company has not issued any shares.
The details of dematerialisation of shares, Demat Suspense Account / Unclaimed Suspense Account are provided in the Corporate Governance Report, as annexed to this report.
Disinvestment through Offer For Sale (OFS)
During FY 2022-23, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, issued directives for disinvestment of upto 5% of paid-up equity capital in the Company through "Offer for Sale (OFS) of shares by Promoters through stock exchanges" method.
In addition to the above, Employee-OFS was also announced for disinvestment of 40,00,000 equity shares (0.5%) of face value of Rs. 2 each to the eligible employees of the Company at a
price of Rs. 680 per equity share. However, Nil applications were received under the IRCTC Employe-OFS.
Through aforesaid transactions, the Ministry of Railways, being the Promoter, disinvested 4,00,00,000 equity shares, diluting 5% of its stake in the Company. The proceeds of OFS amounting to Rs. 2,726.87/- Crores were deposited with DIPAM, the Ministry of Finance, Government of India.
Shareholding of the President of India (PoI)
As a result of the aforesaid offer for sale, the President of Indias holding in IRCTC has been reduced to 62.40% against 67.40% of the paid up equity share capital of the Company. Subsequent to the OFS, President of India (PoI) holds 49,91,72,170 Equity shares in the Company with face value of Rs. 2 each.
Dividend
Your Company takes pride in being a consistent dividend paying company since its incorporation.
In pursuance to the requirements of Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR"), your Company has formulated a Dividend Distribution Policy and is available on the Companys website with web link https://www.irctc.com/assets/images/IRCTC_DIVIDEND%20 D I S T R I B U T I O N % 2 0 P O L I C Y- _ 3 1 . 0 7. 2 0 1 9 _ C B % 2 0 Comments%20[05.08.2019].pdf
The Board of Directors had declared an interim dividend of Rs. 3.50/-per equity share (i.e. 175% on the paid-up share capital of Rs. 160 Crores) amounting to Rs. 280 Crores on the paid-up share capital ofH 160 Crores, in February 2023. The said interim dividend was paid to all the shareholders in March 2023. Further, the Board of Directors in its meeting held in May, 2023 recommended, a final dividend (in addition to the interim dividend) of Rs. 2/- per equity share (i.e. 100% on the paid-up equity share capital of Rs. 160 Crores) amounting to Rs. 160 Crores, out of profit for the year 2022-23, subject to approval of the shareholders in the AGM.
With this, the total dividend for the FY 2022-23 would aggregate to Rs. 440 Crores (i.e. 275% on the paid-up equity share capital of Rs. 160 Crores) which works out to 43.74 % of the post-tax profits for 2022-23 and 17.75% of Networth as at March 31, 2023.
The declaration of dividend by the Company for the financial year 2022-2023 is in compliance with the guidelines issued by the Department of Investment and Public Asset Management (DIPAM), which prescribes that the minimum dividend to be paid for the year should be at least 5% of net worth or 30% of profit after tax, whichever is higher.
Unclaimed Dividend
No amount is due for transfer to IEPF and details of unclaimed dividend as on March 31, 2023 are available on the website of the Company, and is also disclosed in the Corporate Governance report.
| Transfer to Reserves |
| During 2022-23, the Company transferred Rs. 35 Crores to General reserves. |
| IRCTCs Rank at Stock Exchanges (BSE and NSE) |
| Based on the market capitalization of the Company at the end of the financial year 2022-23, your Company was positioned at 102nd and 100th on BSE and NSE respectively. |
| Companys contribution by way of revenue share to Ministry of Railways |
| The Company also contributes by way of revenue share to Ministry of Railways (MoR) and the total share of such contribution was Rs. 704.90 Crores during the year as against Rs. 432.18 Crores in FY 2021-22. Contribution to the revenue of (MoR) comprises of Haulage Charges, Railway Share and Dividend. |
| Employee Stock options |
| Your Company has not provided any Employee Stock Option, therefore, disclosure requirement in relationto ESOP under Rule 12(9) and Rule 16(4) of the Companies (Share Capital and Debentures) Rules, 2014 is not applicable. |
| OPERATIONAL PERFORMANCE |
| Your Companys business is broadly divided into four business segments as produced below: |
| (i) Catering & Hospitality; |
| (ii) Travel & Tourism; |
| (iii) Internet Ticketing; |
| (iv) Packaged Drinking Water (Rail Neer). |
| The segment wise operational performance of the Company during 2022-23 is detailed below: |
(i) Catering & Hospitality:
The Catering and Hospitality segment of IRCTC is segregated as produced below:
• Mobile Catering
Mobile Catering segment caters to passengers travelling while in a train through onboard catering services arrangements. Mobile Catering services are being provided through pantry cars/ mini pantries (with on-board storage, reheating and cooling facility) in the trains or through Train Side Vending (TSV) in trains which do not have pantry cars/ mini pantries. The food for service on the trains is picked up from originating/ en-route stations and is served to the passengers.
As on March 31, 2023, IRCTC provided Onboard Catering Services in 474 Trains.
• Vande Bharat Trains:
Vande Bharat trains is the pride of Indian Railways, Presently, IRCTC is managing onboard catering services in 25 esteemed Vande Bharat Train over Indian Railways.
The menu of catering services for Vande Bharat train is designed on the basis of regional cuisine and popular demand of the passengers, including millet items.
IRCTC plans to undertake the following to bring about radiant and perceptible in Vande Bharat catering services:
Introduction of Licensee specific uniform in Vande Bharat Trains.
Introduction of 4 compartments Casserole for service of Lunch/Dinner in Vande Bharat Trains. Installation of CCTV camera in kitchen units, supplying meals to Vande Bharat Trains.
QR code on meals casserole, enabling passengers have information about food such as item name, date of preparation, name of kitchen, FSSAI no. of base kitchen, grammage, etc. and a link to see live CCTV footage of that kitchen.
Trial of bio-degradable casseroles/containers made of cornstarch/baggase/wheat starch etc.
• Train-Side Vending
There are a large number of trains which do not have pantry cars or mini pantries. In such Mail/ Express trains, Onboard Catering Services is arranged by IRCTC through Train Side Vending. In this arrangement, food and beverages for servicers are arranged from originating and en-route stations.
As on March 31, 2023 IRCTC provided Onboard Catering Services through Train Side Vending arrangements, (sectional / end to end ) in 713 trains.
• Quality Control
To improve the standard quality meals and service for passengers, IRCTC has put the following systems in place.
Regular & Surprise Inspections:
Surprise inspections are carried out in trains and static units of IRCTC by officers of IRCTCs Zones and designated Railways officers. Necessary corrective actions are taken on the deficiencies noticed during these inspections. Around 9600 surprise inspections and 11840 onboard monitoring checks were carried out during the FY 2022-23.
Food Sampling:
To ascertain that food is safe for consumption and does not contain any harmful contaminants, food samples of Raw Material, Cooked Food, Ready to Eat (RTE) and PAD items are tested to ensure compliance with FSSAI standards by sending samples regularly for testing in NABL-accredited labs. A total of 3337 samples of Raw Material, Cooked Food, RTE and PAD items were collected and tested in NABL labs during the financial year 2022-23.
Third Party Food Safety and Hygiene Audits:
Third Party Food Safety & Hygiene audits are undertaken by IRCTC to get feedback on hygiene, quality of food, infrastructure facility, implementation of FSSAI regulations etc. During the FY 2022-23, Third Party Food Safety and Hygiene Audits were conducted in 351 Mobile Units and 185 Static Units.
Customer Satisfaction Survey:
Third party Customer Satisfaction surveys are also undertaken by IRCTC to get the feedback and opinion of travelling passengers through reputed professional agencies. For FY2022-23, Customer satisfaction survey was conducted in 30 Static units and 90 Mobile units by M/s Foresight Research & Consulting Pvt. Ltd.
On-Board deployment of Catering Supervisors:
IRCTC has deployed supervisors/ Catering assistants for end-to-end monitoring of catering services on all premium trains and sectional monitoring of all Mail/Express trains. The on-board monitoring staff also addresses the grievances of passengers on a real time basis.
On-Line Empanelment:
To ensure transparency in system, IRCTC has introduced online empanelment process for Propriety Article Depot (PAD) and Ready to Eat (RTE) products. Any applicant sitting in the comfort of his or her office or home can apply for empanelment of its products to IRCTC through an online process placed at www.irctc.com.html and www.tenderwizard.com/IRCTC. The applicant is informed about the outcome of the application in a time-bound process.
Introduction of MSME/Start-ups:
In line with the Govt. of Indias initiative for promotion of MSME and start-ups, IRCTC has provided various exemptions for the promotion of MSMEs and Start- up firms. During FY2022-23, IRCTC empanelled 08 brands promoted by MSME firms for supply of food items over Indian Railways network.
Complaint Monitoring:
A passenger can give feedback or register complaint against catering services on ‘Rail Madad module that allows passengers to lodge complaints through mobile app/web platform. There are other various methods to register complaints such as, CPGRAM, National Consumer helpline, Complaint Books, etc.
There is a monitoring team designated by IRCTC which forwards the complaints feedback data to the concerned department/s and files interim reply to passengers on social media. Complaints /feedback pertaining to IRCTC are recorded on E CSIM (Catering Service Information Management) for consolidation purpose.
Complaints Redressal:
IRCTC recorded 19891 catering complaints on its E-CSIM platform and all complaints were disposed off during the period.
QR Codes:
To upgrade technical facilities for travelling passengers, the concept of QR Codes was started to provide information about the date of preparation, name of the kitchen, FSSAI, weight, live CCTV streaming link etc .The provision of QR code on meal packets continued with restart of operations by kitchen units/Base kitchens upon resumption of cooked food in trains. During the FY 2022-23, IRCTC enabled QR code facility in 18 upgraded kitchens. The remaining kitchens are also being covered progressively.
CCTV Monitoring:
During the FY 2022-23, IRCTC enabled live monitoring in 36 kitchens through CCTV cameras on IRCTC portal. To ensure the hygiene levels of the cooked food and safety, IRCTC had installed CCTV cameras in IRCTC kitchen units for 24X7 monitoring of kitchen units/Base kitchens through monitoring room at Corporate Office and Central Control.
Point of Sale (POS) Handheld Billing Machines:
To eradicate overcharging, IRCTC has made issuance of invoices through POS machines mandatory for all vendors. These machines enable issuing of bills for every transaction, including those in a moving train. This also ensures proper accounting system and control. At present, all units, mobile and static, have provision for billing through the POS. Efforts have been made for cashless transactions in all Trains, Train-Side Vending etc. under the Digital India initiative of the Government of India. As on 31.03.2023, 2270 POS machines were made available in 867 rakes of Pantry cars & TSV trains. Further, 650 POS machines have been made available in 526 static catering units viz, Refreshment Rooms, Jan Ahaars, Cell Kitchens, Food Plazas, Fast Food units, Retiring Rooms, Executive Lounges and RYN/BNR Hotels under IRCTC.
Future Strategy:
Setting up of WarRoom for complaints:
War Room for complaints will be set up by IRCTC to facilitate fast redressal of passenger complaints and grievances.
The war room will be equipped with latest communications facilities and adequate manpower, it will function round-the-clock to improve the services of IRCTC.
Static Catering:
Static catering units are such units which are located at station premises and offers catering services to the travelling passengers across the country. IRCTC manages the following static catering units:
• Jan Ahaars (units serving economy combo meals comprising regional and local items);
• Refreshment Rooms at A1 & A category stations (units where a-la-carte items, ready-to-eat meals, and thali meals are served);
• Base Kitchens;
• Food Plazas;
• Fast Food Units;
As on March 31, 2023 IRCTC managed 182 refreshment rooms, 57 Jan Ahaars, 11 Base Kitchens, and 315 Food Plazas & Fast Food Units. Refreshment Rooms and Jan Ahaars are located at Railway platform and sell low budget meal items to the travelling passengers. The tariff of the items sold through Refreshment Rooms and Jan Ahaars are regulated and approved by Ministry of Railways/IRCTC. A list of the items to be sold on these units along with their prices is provided by the Ministry of Railways/ IRCTC. These units usually sell items to passengers on the platform and sometimes supply food to moving trains.
• Jan Ahaars:
Jan Ahaar serves snacks and a-la-carte items, standard breakfast, standard meals, Janta Khana, as authorized by the Railways. In addition, Jan Ahaar also serve approved brands of packed items such as aerated drinks, Biscuits, Chips, Namkeens, Chocolates and Ready to Eat meals (RTE) and Railneer PDW etc. on MRP basis.
• Refreshment Rooms:
IRCTC manages Refreshment Rooms at A1 & A category stations at all stations. These units are generally part of station building. The meal items served at these units includes snacks, a-la-carte items, standard breakfast/ meals, Janta Khana etc. The tariff of the cooked food items is regulated. In addition, approved brands of packed items such as aerated drinks, Biscuits, Chips, Namkeens, Chocolates and Ready to Eat meals (RTE) and Railneer PDW etc. are also served.
• Management of Base Kitchens:
Base Kitchen is a large cooking and packing facility set up in the vicinity of Railway premises from where food is prepared and distributed in trains. There is no sale of food items directly to the passengers from Base Kitchens. The food from Base kitchen is supplied in all types of trains. IRCTC managed total 11 Base kitchens as on 31.03.2023.
• Up-gradation of Kitchens:
As per the provisions contained in Catering Policy-2017 and to execute the unbundling of catering services, IRCTC has upgraded 48 Kitchens from 2017-2020. In order to cover more trains for supply of meals from Kitchen units/Base kitchens, IRCTC has identified 50 additional kitchens for meal supply in trains. During the year 2022-23, out of these 50 identified kitchens, IRCTC has upgraded 15 kitchens by duly installing the modern and mechanized kitchen equipments for meal production. The upgraded kitchens shall have the facility of QR code on meal packets, live monitoring through CCTV cameras, and deployment of Food Safety Supervisors (FSS) for collection of Food samples for lab testing.
• Food Plazas(FPs)/Fast Food Units(FFUs) :
Food Plaza is a multi-cuisine plaza, which offers a variety of choice for eating to the travelling passengers. Food Plazas normally offer multi-cuisine food and have kitchen and dine-in facility.
Fast Food Units are food and beverage retail outlets wherein the fast food items are sold through self-service counters. In Fast Food units, packaged food is served to customers in take-away packets. The rates for items in Food Plaza and Fast Food Units is market-driven. As on 31.03.2023, IRCTC managed 315 Food Plazas and Fast Food Units over Indian Railway network.
E-Catering
To provide quality and a wider range of cuisine while traveling, IRCTC has introduced its new e-Catering Website & Mobile app (Food on Track) for food delivery in trains at selected stations. Available for download from Google Play and iTunes, passengers can now easily install the app on their android or iOS smart phones and get palatable yet cheap food delivery in trains from a variety of food partners. The prices of food booked under e-Catering are market driven, where the restaurant fixes the menu.
With this new online food delivery app, passengers can order food on train by simply entering their travel details such as PNR number, Train name, seat/berth number and expect a delicious and quick food delivery on train. This effective system of online food delivery on train not only guarantees tasty food on your seat but also a revamped railway food menu making your journey a bit more fun. With multiple food aggregators at stations, travellers can now enjoy an extensive set of meals ranging from North Indian to South Indian, Pizzas to mouth watering Biryanis, butter chicken and Chinese delicacies etc.
IRCTC e-Catering has integrated with B2C partners. Some are already made LIVE such as Ixigo, Confirmtkt, Make My Trip, Yatra, Railofy etc. to improve the process of reach out to customers.
Some of the major brands associated with e-Catering services are Dominos Pizza, Subway, Haldirams, Faasos, A2B, Sarvana Bhawan, Nirulas, etc.
• Booking of e-Catering orders through WhatsApp:
IRCTC has recently launched a WhatsApp for marketing of e-Catering. In next phase, IRCTC plans to launch a chatbot/AI on whatsapp for booking of e-Catering orders. The service allows passengers to book food and beverages through WhatsApp. The service is expected to increase revenue for IRCTC and improve customer convenience. The Company is confident that WhatsApp booking will be a popular service with passengers.
• Executive Lounges:
IRCTC has been mandated for management of Executive Lounge at stations. Executive lounge at stations provide services like wash and change, wifi internet, live TV, channel music, newspaper/book stand, buffet services concierge services for pre-departure and post arrival assistance to the passengers etc. on payment basis. As on 31st March, 2023, IRCTC managed Executive Lounges at 8 stations viz. New Delhi (Paharganj Side & Ajmeri Gate side), Agra Cantt, Jaipur, Ahmedabad, Madurai, Sealdah and Varanasi.
| • | Retiring Rooms: |
| IRCTC manages Retiring Rooms at major railway | |
| stations to improve the accommodation facilities for | |
| the travelling passengers and to provide affordable | |
| and comfortable stay facility. Retiring Room offers | |
| facilities such as Air Conditioned Rooms and | |
| Dormitories, Quality Linen, Locker facility for luggage, | |
| LED Television, Bathrooms with all basic facilities |
such as WC, Geysers, Shower etc. with pantry and housekeeping services. As on March 31, 2023 IRCTC managed 26 Retiring Rooms. IRCTC has taken over 100 sites from Ministry of Railways, which are in the process of tendering.
• Rail Yatri Niwas/BNR Hotels:
IRCTC also develops, operates and maintains Rail Yatri Niwas/BNR Hotels. The sites have been given to IRCTC on licence with permission to sublicence the rights to third parties through Public-Private Partnership. As on March 31, 2023, IRCTC operated One Rail Yatri Niwas at Howrah and two BNR Hotels at Puri and Ranchi.
• Budget Hotels:
IRCTC plans to built a network of a well-planned chain of hotels that target the economy / budget travellers. In this regard, Hotels at following locations are under construction: Budget Hotel at Lucknow: Work for setting up of 125 Keys Budget Hotel at Lucknow is in advanced stage. The Hotel is being set up through PPP Model with investment of Rs. 20 cr. The hotel will have facilities to cater to demand of tourists and MICE. Expected date of completion of Budget Hotel at Lucknow is December, 2023.
Budget Hotel at Khajuraho: Work for setting up of 60 Key Budget Hotels at Khajuraho is in progress. Development of Hotel is through PPP Model with investment of Rs. 7cr. Expected date of completion of Budget Hotel at Khajuraho is December, 2024.
Budget Hotel at Kevadia: Due to increase in footfall at Statute of Unity and to tap the tourism potential of upcoming tourist destination of Kevadia, IRCTC is in process to create 500 Key Budget Hotels facility in the town. In the first phase, work for setting up of 125 Key Budget Hotels at Kevadia is in progress through PPP Model with investment of Rs. 20cr. Expected date of completion of Budget Hotel at Kevadia is December, 2024.
Other Hotels in pipeline: To have presence on pan India basis, IRCTC has approached other states governments i.e, Himachal Pradesh, Uttar Pradesh, Uttarkhand, Sikkim, Meghalaya, Andhra Pradesh, Nagaland and Rs.&K for allotment of land as follows:
a. Development of Budget Hotel at Goa:
Govt. of Goa has already allotted land for development of Budget Hotel at Goa. The work for setting budget hotel is in progress.
b. Development of Budget Hotel at Ayodhya, Uttar Pradesh: Govt. of Uttar Pradesh has already earmarked land for development of Budget Hotel at Holy City of Ayodhya.
c. Development of Budget Hotel at Kohima, Nagaland: Govt. of Nagaland has approached IRCTC for setting of budget hotel in Kohima, Nagaland. Discussions are in advanced stage for allotment of land to IRCTC for the above said project.
Future Strategy :
1. Identification of Fresh sites for Food Plazas & Fast Food unit at A1 and A Category Stations:
To provide catering services at market driven rates and standards, Railway board has been requested to handover fresh sites at 146 stations for setting up of Food plaza & Fast Food Units.
2. Up gradation of Brown Field Kitchen Units in the Stations:
IRCTC has identified 45 Kitchen Units within the Railway station premises which are under process of upgradation to supply quality meals to mobile units.
3. Setting up Green Field Base Kitchens in the Stations:
IRCTC has requested Zonal Railway for space at 05 identified locations to set up Green field base kitchens to supply quality meals to mobile units.
4. Rail Yatri Niwas & BNR Hotels:
After the completion of 15 years tenure, fresh tender have been invited for BNR/Puri and RYN/Howrah for the remaining tenure of 12 years & 11 years respectively. The units are scheduled to be commissioned in 2nd Qtr of FY 2023-24.
5. Retiring Room & Dormitories:
In order to increase the approach towards accommodation services at stations and revenue of IRCTC, Railway Board has been requested to issue instructions to Zonal Railway to expedite handing over of the 100 more sites of Retiring Rooms especially at A1 & A category Stations to IRCTC.
Non Railway Catering(NRC)- IRCTC manages various non Railway Catering projects (NRC) such as canteens, cafeterias, kiosks etc. outdoor events at various Govt. as well as Non Govt. offices including institutional catering. Currently IRCTC is managing 08 NRC units on Pan India basis.
TRAVEL AND TOURISM
IRCTC has utilised the COVID- 19 scenario by tying up with various service providers like Hotels, transportation companies, etc. to provide better services along with competitive pricing to the customer. With the removal of restrictions related to COVID- 19 and vaccination drive, the passengers were having less fear of travelling outside their homes. With the revision of Standard operating procedure (SOP) for taking measure on spreading COVID -19 pandemic and issuance of new Normalcy guidelines followed by IRCTC, the business of Tourism department has increased tremendously.
Being a Railway PSU, IRCTC specialises in rail based products and is the market leader in this segment. IRCTC is one of the leading travel and tourism companies in the market, catering to the needs of diverse tourist segments be it land, customised or LTC packages. Besides rail based tourism products, IRCTC has also diversified into various other tourism businesses for increasing the market share in the immensely competitive tourism market. Further new avenues have also been explored by planning new packages based on heritage, culture, adventure, medical wellness and special interest tours. The hard work done by the tourism team during lockdown period has resulted in launch of attractive, competitive and economical tour packages. IRCTC has its exclusive tourism portal, www.irctctourism.com for showcasing and booking of various tourism products in a single space, shown below as:
| IRCTCs Tourism Products And Services | ||||
| Domestic Tour Packages | IRCTC Corporate Trains | Outbound Tour Packages | Air Ticket and Corporate Travel | Other Tourism Activities |
| Rail Tour Packages Holiday Packages Packages with Charter Train/Coaches Customised Tours LTC Tours Domestic Air Packages | Inbound Tourist Targeted Tours Maharajas Express Golden Chariot Buddhist Special Tourist Train (Deluxe Tourist Train) | Mass Tourism Bharat Gaurav Trains State Special Tourist Trains Election Specials | Air Ticketing Corporate Travel | Event Management Booking of Charter Trains & Coaches Hill and Heritage Charters Saloon Tours and Charters Online reservation of Accommodation facilities Cruise Packages |
| Educational Tours | VISA & FOREX | |||
IRCTC has marketed the products across India though various marketing activities especially Digital Marketing & Social Media, due to large number of followers on Social Media.
IRCTC launched and operated many Land Tour Packages, Domestic Air Packages, State Special Trains, customized travel packages, Bharat Gaurav Trains, Deluxe tourist train and IRCTC Corporate Trains, etc.
The performance of tourism products are provided below:
Domestic Tourism
i. Rail Tour packages – IRCTC offers comprehensive package with all inclusive services like confirmed onward and return rail journey, road transfers, accommodation, meals and sight-seeing at reasonable rates. The business from Rail Tour packages has increased from 5,341 tourists in FY 2021- 22 to 21,741 tourists in FY 2022- 23. ii. Holiday packages – IRCTC also operates Holiday Packages (Land Packages) which includes road transfers, accommodation, meals and sight-seeing. For this package, the services are offered to passengers when they reach at destination (whether from Railway Station/ Airport / Bus Stand). For FY 2021- 22, a total 56,854 passengers availed IRCTC land packages which increased to 62,396 passengers in FY 2022- 23.
iii. Packages with charter coach and train – These are all inclusive packages like Rail Tour Packages, where the train travelisarrangedthroughcharteredcoachesortrainsbyIRCTC. In FY 2021- 22, IRCTC operated 14 RTP with charter trains/ coaches catering to 2,558 passengers in comparison 14 RTP charter coach tours with 1,120 passengers in FY 2022- 23.
iv. Customized tour package- These packages are tailor-made based on the requirement of the tourists such as, budget, level of luxury, places of Interest, length of stay, etc. During the financial year 2022- 23, a total of 7,418 tourists availe d these packages as against 1,155 in previous year, showed a growth of 542%.
v. Leave Travel Concession (LTCs): Government of India authorised IRCTC as one among three PSUs for operating LTC tours. IRCTC offers general and customised LTC packages to Government employees. All IRCTC tours qualify for LTC travel. During the year, IRCTC arranged exclusive LTC package service to 27 passengers.
vi. Domestic Air packages – IRCTC operated various Domestic Air packages from all the Zones to various destinations like Shirdi, Goa, Delhi, Tirupati, Gangtok, Darjeeling, Kalimpong, Andaman and Nicobar, Ladakh, Srinagar, Mumbai, Puri, Konark, Ayodhya and more. IRCTC provide accidental insurance coverage of Rs. 10 lakhs to each passenger make booking of IRCTC Domestic Air packages. During FY 2022-23, IRCTC operated 649 Domestic Air Packages and provided services to 13,944 passengers which is more than previous year (i.e. FY 2021- 22) where IRCTC had operated only 249 domestic air packages with 5,085 passengers. The business has shown growth of 174% in terms of number of passengers travelled.
vii. Educational Tours: IRCTC operates educational tours for students under its "travel to learn" scheme and has tie-ups with various State Governments as well as private schools for operating educational tours for their students. During the year 2022- 23, IRCTC operated various education tours as: a. Tamil Kashi Sangamam and provided services to 2,592 participants which has been travelling from IIT Madras to BHU, Varanasi.
b. North East Yuva Sangam tours under Ek Bharat Shreshtha Bharat (EBSB), 28 Higher Educational Institutes being identified by Ministry of Education have travelled with paired 14 institutions. Total 1,250 approx. participants have travelled in 29 tours and IRCTC has provided end to end services.
c. Other Educational programs.
i. Maharajas Express: Maharajas Express has created a brand image for IRCTC in the field of luxury tourism in the international arena. Maharajas Express operates on four different itineraries out of which three itineraries are of 6 Nights/ 7 Days and one of
3 Nights/ 4 Days which cover places like Udaipur, Jodhpur,
Bikaner, Jaipur, Ranthambore, Agra, Khajuraho and Varanasi. The itineraries have been uploaded with departure dates on the website of the train https://www.the-maharajas.com/. The train is operated during the tourist season from September to April.
During the FY 2022-23, IRCTC operated operated 23 trips for 975 tourists (paid passengers).
ii. Golden Chariot: Golden Chariot, the only luxury train being operated in South India by Karnataka State Tourism Development Corporation was taken over by IRCTC for marketing, operations and maintenance for a period of 10 years through an Agreement signed between the two organisations on 19th November, 2019 with physical possession of the train by IRCTC in January, 2020.
The itineraries and departure dates of the train for the season 2023-24 and 2024-25 have already been announced and published on the official website www.goldenchariot. org. Three itineraries viz. Pride of Karnataka (5 Nights/6
Days), Jewels of South (5 Nights/6 Days) and Glimpses of Karnataka (3 Nights/4 Days) have been planned various destinations in Karnataka, Tamil Nadu, Kerala and Goa.
During FY 2022- 23, IRCTC operated one trip of Golden Chariot with 22 guests on-board. iii. Buddhist Circuit Special Train: IRCTC has been operating Buddhist Circuit Special Tourist Train since 2007. This is a fully air-conditioned train offering a 7
Nights and 8 Days package covering all major Buddhist Pilgrim locations in India and Lumbini in Nepal. The new rake of Buddhist Circuit Train has International level features like Two Dining Cars, Vacuum Bio-toilets, Air Suspension springs, Security lockers, modified 2AC coaches with side seating facility, On-board housekeeping and security, CCTV camera security, accidental insurance facility, Foot massager and Mini library, etc. The itineraries have been uploaded with departure dates on the website of the train www. irctcbuddhisttrain.com. During FY 2022- 23, IRCTC operated 01 trip of Buddhist Circuit with 44 tourists.
iv. Deluxe Tourist Train: IRCTC has been working to increase the utilization of Buddhist Special Train rake to operate different tourist circuits targeting domestic tourists, launched deluxe tourist trains. In FY 2022- 23, IRCTC operated 04 trips with 789 passengers onboard. IRCTC has requested Railways for additional 02 3AC coaches to this train to match with the minimum composition of a Train under Bharat Gaurav train policy.
v. Outbound Tour Packages During FY 2022- 23, IRCTC has operated 95 outbound packages and provided services to 3,195 tourists.
Air Ticketing and Corporate Travel
i. Online Air ticketing: IRCTCs air-ticketing micro-site www.air.irctc.co.in provides online booking facility of Domestic as well as International Air-tickets at very competitive prices with the lowest convenience fee as compared to other portals of Online Travel Agents (OTA) in the market.
Mobile app of IRCTC facilitates the booking air tickets on the go for Android and IOS users. The average number of air ticket booked per day through IRCTC in FY 2022-23 was 5322, in comparison to 2440 in FY 2021-22. IRCTC provides complimentary travel insurance coverage of H50 lakhs to passengers of all the booking made through IRCTC web page and App.
ii. Corporate Travel Business: IRCTC offers complete Travel Solutions for corporates which includes air ticketing, booking of domestic including LTC tickets, as well as International tickets, hotel bookings, visa facilitation, insurance etc. IRCTC has decentralised the business at zonal level to make more tie-ups with PSUs/ Ministries/ Government Departments, etc. and better co-ordination with the organisations. IRCTC has tie-up with more than 175 PSUs/ Ministries/ Government Departments and institutions for providing corporate travel services.
Mass Tourism
i. Bharat Gaurav Trains: IRCTC has initialised the operations of Bharat Gaurav trains across India with the procured LHB rakes provided by Indian Railways for promotion of Rail based tourism in Domestic market at reasonable price. With the change of policy issued by Railway Board, all tourist trains come under "Bharat Gaurav Policy". IRCTC with 2 rakes for operation of Bharat Gaurav trains already, had requested for additional 8 rakes from across India. Total 08 rakes are operational across India and operating Bharat Gaurav train tours. During FY 2022- 23, IRCTC operated 10 trips and provided service to 5,330 passengers (including 03 tours operated for Karnataka Govt.).
ii. State Tirth Special tours:
a. State Special tours by Trains: IRCTC operates the state special tourist train tours in collaboration with various state governments. The government selects the beneficiaries of the tour package who are mostly senior citizens. These train tours cover various destinations of tourist and pilgrim importance across India. During FY 2022- 23, IRCTC operated 96 State Special trains for Madhya Pradesh, Rajasthan, Delhi, Goa, Odisha
& Jharkhand and provided services to 94,508 passengers. Discussions for providing such services to many state governments are under progress.
b. State Special tours by Air: For the very first time, IRCTC operated State Special tours for elderly residents of state through Air. These air tours were organised for Rajasthan State Government ex- Jaipur to Kathmandu on regular basis and a total of 538 passengers were carried.
iii. IRCTC Corporate Trains: Under the directives of the Ministry of Railways IRCTC started the operation of the corporate premium passenger trains in 2019 with Lucknow-Delhi-Lucknow Tejas Express commencing operations on 5th October followed by commencement of Ahmedabad-Mumbai-Ahmedabad Tejas in January, 2020.
IRCTC is focusing on generating more Non- fare revenue (NFR) from Tejas and the empanelment policy for advertisement agencies has been issued for selling of advertisement spaces of interior and exterior space/ areas in Tejas rakes. Various companies have been empanelled for different NFR activities like LED display, Advertisements in Meal Tray, Head rest etc, Vinyl wrapping of coaches, etc.
During FY 2022- 23, IRCTC operated these Corporate Trains on regular basis (i.e. 6 days a week) and was successful in placing it as an unique train among general public.
iv. Election Special Trains: IRCTC has been nominated as single window for booking and movement of Election Special Trains along with provision of onboard catering services to the forces on movement. During FY 2022- 23, IRCTC successfully operated 244 Election Special Trains connected with assembly elections of Madhya Pradesh, Rajasthan, Jharkhand, Odisha, Goa and Delhi.
Other Tourism Activities
i. Event Management: IRCTC has been organizing various Conferences, Events and Incentive packages for Indian Railways, PSUs, Education Department and other prominent institutions. During FY 2022-23, IRCTC organised 5 Events by providing MICE (meetings, incentives, conferences and exhibitions) services to 180 members.
ii. Logistic Business: IRCTC ventured into Cargo
/ Logistics Sector for offering transportation and supply chain management solutions to Government Organizations. Targeting both domestic and international freight business. IRCTC is awarded work by BSF, MoD Headquarters and Ordinance Factory Khamaria.
iii. Booking of Charter Trains and Coaches:
Ministry of Railways has nominated IRCTC as the single window agency for online booking of all trains and coaches on charter basis. During FY 2022-23, 539 (140 trains and 399 coaches) charters were booked through IRCTC. The online booking of FTR Trains/ coaches is done through IRCTCs exclusive web page, www.ftr.irctc.co.in.
iv. Hill and Heritage Charters: IRCTC actively promotes the five Hill Railways of India viz Nilgiri Mountain Railway (NMR), Darjeeling Himalayan Railway (DHR), Kalka-Shimla Railway, Kangra Valley Railway and Matheran Railway. IRCTC operates hill charters over Kalka-Shimla, Nilgiri Mountain Railway and Darjeeling Himalayan Railways UNESCOs "World Heritage Sites". During FY 2022- 23, IRCTC diversified the services and provided services to 73 passengers by operating 2 Rail Motor cars and 2 charter trains.
v. Luxurious Railway Saloon Car: Ministry of Railways decided to open the bookings of its fleet of luxurious saloon coaches to open market and has entrusted IRCTC with the task of marketing and booking of these special rail products. A Saloon Car generally has a living room, two air-conditioned bedrooms – one twin bedroom and the other similar to AC First Class coupe with attached baths, dining area and a kitchen. Optional services like attendant, catering, pick and drop is arranged as per demand of tourists. During
FY 2022- 23, IRCTC successfully operated 93 saloon charters across India in comparison to 48 saloon charters operated in the previous year. vi. Online booking of Retiring Rooms at Stations and Hotel Booking: IRCTC has been providing the convenience of booking of retiring rooms online to Railway passengers having confirmed PNR across 435 Railway stations through IRCTC tourism portal. Passengers can also book Retiring Rooms on the go on Android and IOS mobile through IRCTC App. Hourly booking is also available at 48 stations. At present, about 70% of total retiring room bookings of Indian Railways are being done online.
IRCTC has upgraded retiring rooms at 26 stations viz. Palakkad, Madurai, Tiruchchirappalli Jn, Tirupati, Bilaspur, Lucknow Jn, Gorakhpur, Tatanagar, Sealdah, Rajender Nagar T (Patna), Jaipur, Vadodara, Madgao, Thivim, Ahemdabad, Kachiguda, Udupi, Lonavala, Mumbai Central, Agra Cantt., Gwalior, Pune, Nasik, Bhusaval Jn, Solapur Jn, Jalgaon Jn under PPP model and booking is made online. The upgraded retiring rooms have hotel like facilities such as fully Air-conditioned rooms with Wifi, TV, Geyser, linen, sofas etc.
During FY 2022-23, total 6.23 lakh bookings for Retiring rooms were made with a total revenue of Rs. 36.88 Crores.
vii. Online Bus booking: IRCTC provides bus ticket bookings on www.bus.irctc.co.in IRCTC has tied up with various bus transport organisations such as M/s Abhi Bus and M/s Red Bus etc and booking are available for booking of bus at 23 states and 4 UTs as of now.
During FY 2022-23, a total of 1,63,674 passengers availed the IRCTC online bus booking service. Total 1,05,817 TIDs were booked during the FY 2022-23. On an average, around 300 bus tickets were booked on daily basis through IRCTC Bus Portal during FY 2022-23 as against an average of 94 tickets booked per day during FY 2021-22. There has been a growth of approx. 670% in passengers travelled and 200% revenue generated in FY2022-23 as compared with that of FY 2021-22, making the business a profitable one.
viii. IRCTC Mobile Apps: The application for IRCTC App is already available for Android and IOS users. An integrated IRCTC app featuring Rail and Air ticketing and IRCTC Tourism in the name of "IRCTC TOURISM" is also available to the customers to book their choice of travel and tourism product on the App. A Mobile App has been developed on Android as well as iOS for Maharajas
Express to simplify the recording of guest feedback system and promotion of off-board excursions.
ix. Tourism Portal:
In the era of modern technology where internet, websites and apps are ruling the world, IRCTC has realised the potential of growing as an Online Travel Agency. The portal offers on-line booking of Tourist Trains, Air tickets, Tour packages be it through rail, air or land, Hotel, Saloon Cars, AC Tourist Trains, Event Management, etc. To be at par with the user friendliness and facilities which other OTAs offer, IRCTC has revamped its tourism website. During FY 2022-23, total Transaction IDs (TIDs) generated was 8,15,630 for 18,08,548 passengers, in comparison to 2,54,256 Transaction IDs (TIDs) and 5,79,249 passengers in FY 2021-22.
x. Online Feedback module: IRCTC takes online feedback of tourists/ passengers travelling or availing service of IRCTC like tourist trains, packages, etc. through the Tabs provided to the tour leader. Apart from that, customers can also provide feedback through the link provided to them after the trip is completed. These feedbacks are used for analysing the satisfaction level of the guests and for taking necessary action or steps to make the product better.
xi. Part Payment facility: Online and Offline Customers can now utilize the Part payment facility to book their Tourism packages and plan their journeys in advance without blocking the full amount.
Part payment is allowed for online booking for package cost above Rs. 50,000/- per transaction for all Packages.
IRCTC registered users and Guest users can avail the part payment facility for online booking at www. irctctourism.com.
• The minimum ARP (Advanced Reservation Period) for part payment facility would be for booking done before 35 days from departure date.
• Part Payment is applicable on total booking amount, is greater than Rs. 50000/. The payment is collected in 2 instalments.
• For Domestic/International Air Packages: - 1st payment for 30% amount, Final/ Balance payment for 70%.
• For All Other Packages: - 1st payment for 25% amount, Final/Balance payment for 75%.
• If the due/final payment is not done within 30 days prior to departure date, then the request for the final payment would not be accepted & booking would be treated as cancelled & relevant cancellation charges would be applicable.
xii. Online Hotel Booking: IRCTC had integrated accommodation partners (Hotel, Home stay, Bed and Breakfast, PGs, Dormitories, paying Guest Houses, Yatri Nivas, holiday Homes, start up etc.) for online booking through https://www.hotel.irctctourism.com or ‘irctctourism mobile apps – Android and IOS. Some of the major partners are:
| Park Hotels | Sterling Holidays | |
| Oyo Rooms | Svelte Hotels | |
| Pride Hotels | Uberoi Anand | |
| Oga Hotels | Dorota House | |
| Comopolitian Hotels | MP Tourism | |
| KTDC Hotels | Le Roi Hotels | |
| Ginger Hotels | Southern Grand Hotels | |
| IRCTC Guest House,Katra | Hotel Ramada | |
| Sunil Enterprise | Hotel Welkin Residency | |
| Hotel Excellence | Umrao Hotels | |
| Chandra Inn | Hotel Clarks Grand | |
| Tamil Nadu Guest House | Amantra Comfort Hotel | |
| Hotel Rialto | Hotel Mayur | |
| The Pride- Mussoorie | Hotel Dwara | |
| O2 Oxygen | Fab Hotels | |
| Hotel Soniotel etc | ||
Following Channel Managers are also integrated with IRCTC webpage for providing hotel inventory.
| # | Name of Channel Manager |
| 1 | Staah |
| 2 | Djubo |
| 3 | Bookingjini |
| 4 | Maximojo |
| 5 | Asiatech |
| 6 | Axis Rooms |
| 7 | Resavenue |
| 8 | Eglobe |
| 9 | Ezeeabsolute |
| 10 | Rate Tiger |
Customers now can book more than 875 hotels across over 265 cities with starting tariff as low as Rs. 600/-. Most of the Hotels are located near Railway
Stations, Airports and city centres. Most of the Hotels offer no cancellation charges if cancelled before 24hrs of check–in. In 2022-23 there were 10662 transactions with gross revenue of Rs. 2.67 Crores.
xiii. Online Ticketing for National Rail Museum (NRM): Online Ticketing System of National Rail Museum (NRM), Chanakyapuri, New Delhi is being managed by IRCTC since 14th April, 2022 by facilitating visitors, who wish to book their online tickets in advance through website (www.nrmindia.org) for visiting Museum, and for different Rides. Institutional Bookings by Schools & other Institutions are also enabled in the system.
Ticket booking can be made via multiple payment modes i.e. Credit/Debit cards, Net banking, Wallets, UPI etc. Further, Counter bookings are also enabled with POS machines for digital payments.
QR codes enabled tickets can be scanned through the Mobile App provided to the Ticket checking staff at the different counters for facilitating the easy entry of visitors.
Total 63,574 tickets were booked with a transaction value of Rs. 2,18,99,590 in FY 2022-23
xiv. Trains at a Glance (TAG): The Trains at a Glance – time table of Indian Railways with a high readership gives detailed information about routes, timings of important passenger trains, premium trains; other details which are handy for rail travel such as reservation procedures, rules and regulation of travelling, passenger amenities on trains and in stations including catering, menu types and rates, and also about rail-based tourism.
Besides, making the prestigious time table available at Railway stations premises and reservation offices, IRCTC for the first has made the Trains at a Glance available at the door steps of the customers by offering online booking facility through its ticketing and tourism websites. After a pause of 2 years, Ministry of Railways has released the 43rd edition of Trains at a Glance for the customers which has been dedicated to the service of the nation in October, 2022. The cost of a single book is Rs. 160/- inclusive of delivery charges. Cancellation is not allowed, once booked. Total 7702 TAGs were issued at the door steps of customer in 2022-23. Apart from this TAG is also supplied to various Railways for selling through their counters, book stalls etc.
IRCTC has also created e-Book of Trains at a Glance in 2022 with a host of features for better reading experience from October, 2022 onwards. The TAG e-Book is also compatible with devices like Mobile Phones, Tabs, etc. which costs Rs. 30/- per copy. Cancellation is not allowed, once booked. It is available for reading based on login across platforms. Total 703 TAG e-books were issued in 2022-23.
xv. Shri Kedarnath Heliyatra Ticketing System: IRCTC has signed an MoU with UCADA (Uttarakhand Civil Aviation Development Authority) for providing Helicopter ticket booking system for passengers to visit Shri Kedarnath Dham. IRCTC has developed the Helicopter ticketing website https://www.heliyatra.irctc.co.in/ and has successfully launched online Helicopter ticket booking from 08.04.2023. The tenure of the project is for a period of 5 years.
The online ticketing system for Helicopter service to visit the Holy Shrine of Shri Kedarnath Dham by the pilgrims, is a prestigious project for IRCTC, which is unique with complexities and multiple variations. IRCTC will be handling administrative & Technical operations, Payment Gateway accounting/ reconciliation, etc.
Going ahead......
Being a tourism arm of Indian Railways, in initial phases, IRCTC has developed and promoted more of Rail based tourism products. But to manage the competition in the market, IRCTC has also launched and operated various non-rail based tourism products. With this extremely diversified tourism product lines, there is tremendous scope of growth in the field of tourism and it is seen that as per the projection given by WTTC (World Travel & Tourism Council), the tourism business will grow by 5.8% approx. (compound annual growth rate) in next 10 years (2022- 2032).
In line with this, the company plans to further enhance and consolidate tourism business in the coming years by expanding and streamlining existing business lines as well as introducing new product lines.
With issuance of new policy of "Bharat Gaurav Trains" and revised charging principle issued under the same policy, all tourist trains which include Bharat Darshan/ Pilgrim Special Trains, Maharajas Express, Golden Chariot and Buddhist Circuit tourist trains has come under Bharat Gaurav Trains.
IRCTC plans to operate tourist trains with total 10 exclusive rakes of Bharat Gaurav Trains, of which 08 rakes are already operational across India. The composition of the rakes has been kept with minimum composition of 14 coaches.
However specific thrust of the company areas identified for the financial year 2023- 24 are:-
1. Bharat Gaurav Trains: IRCTC has initialised the operation of Bharat Gaurav trains across India with the procured LHB rakes provided by Indian Railways for promotion of Rail based tourism in Domestic market at reasonable price. With the revision of haulage charges, it is expected that IRCTC will operate more than 100 tours in FY 2023- 24.
2. Passenger Trains: IRCTC will operate both the Tejas trains on 6 days in a week basis as operated in FY 2022- 23 as well as try to increase the occupancy of berth utilisation of these trains to increase the revenue generation.
3. Online Bus booking: IRCTC has tied up with M/s Abhi Bus and M/s Red Bus, for facilitating online bus ticket booking for the passengers and is in the process of continuously developing the portal making it more seamless for the passengers to book tickets. Options will be explored to widen the reach of this business by adding more Bus consolidators.
4. Rail Tour Packages: To give a boost to Rail based tourism, IRCTC will increase the number of Rail Tour Packages and will request Zonal Railways for blocking more number of berths as per VAT Policy in the trains identified by IRCTC for operation of these packages. Even try to maximise the number of occupancy of popular packages.
5. Customised Holiday packages: One the basis of demand of customers, IRCTC will plan and develop more customized packages for small groups of family and friends, which will give variety to customers.
6. Destination Management Companies (DMCs): IRCTC will empanel reputed agencies as destination management companies to provide competitively priced packages for IRCTC international tours.
7. Educational Tours: Under "Ek Bharat Shresth Bharat" scheme, Ministry of Education (MoE) has planned to operate Yuva Sangam tours, where IRCTC has provided end to end services for the tours of FY 2022-23. MoE have planned to operate "Saurashtra Sangamam" in FY 2023- 24 for which end to end arrangements will be done by IRCTC.
8. State Special tours: State Governments of Rajasthan and Madhya Pradesh have planned to operate State Special trains as well as State Special tours with Air through IRCTC and IRCTC will operate both these tours in the upcoming Financial Year. Discussions are in progress with other state governments also for operating such tours from their state.
9. Cruise Packages: Once the International travel restrictions on out-bound tourists are reduced or removed, IRCTC will focus on launching packages in co-ordination with major Cruise liners operators.
10. River Cruise Packages: IRCTC in collaboration with Antara Cruise plants to launch packages in the country offering Luxury River Cruise Tours. These tours will be offered to the guests of Maharajas Express also.
11. Direct tie-up with Hotels and Transport companies:
IRCTC has initialised direct tie-up with Hotels and hotel chains as well as transporters to provide competitive package prices to the passengers. IRCTC shall continue to do so in the times to come to pass on maximum benefit to customers.
12. Ship tour package from Chennai to Srilanka: IRCTC is in discussion with Srilankan High Commission for exploring the possibility of operating tours to Srilanka by Ship.
INTERNET TICKETING
IRCTCs journey has proved to be a milestone of reserved rail e-ticketing. Since its inception, it has transformed the e-ticketing service, providing an unparalleled level of convenience and accessibility to millions of people even to the remote areas. Its impact on the lives of the masses is immeasurable, and its contribution to technological advancements is commendable. During the FY 2022-2023 about 80.99% online ticket were booked which is likely to increase through AI based booking, seamless payment methods on single platform.
On March 21, 2022, IRCTC has reached a milestone of 15.88 lakh e-tickets bookings from 27 tickets booked on its first day in 2002, a testament to its exponential growth. After almost two decades of unparalleled progress, IRCTC has emerged as one of the largest e-commerce website. The growth of this platform has enabled the common man, to take the benefits of new technology, making online ticketing more accessible, convenient and affordable. Through IRCTC internet ticketing website and mobile app, people can book tickets from the comfort of their homes, offices etc. eliminating the need to physically visit the PRS counter, saving time, and reducing the hassle.
IRCTC pioneered internet-based rail ticket booking through its Website and Mobile App which accounted for 80.99% of the total reserved tickets booked online on Indian Railways in 2022-23. The site offers round-the-clock ticket booking services, except for a 35-minute break from 23:45 hrs to 00:20 hrs. During financial year 2022-23, the IRCTC Website and Mobile App recorded an average daily ticket sale of 11.82 lakh tickets, representing an increase from the previous financial years average of 11.44 lakh tickets. These numbers highlight the systems impressive growth and ascendancy in the Indian e-commerce space.
Service Charge/Convenience Fee
Service Charge which was levied by IRCTC H20 + Tax per ticket for Non-AC Classes and H40+ Tax per ticket for AC
Classes, on the Reserved Rail Tickets booked through its platform, was withdrawn by the Ministry of Railways from 23.11.2016 to 31.08.2019 as an initiative for promotion of digital transactions.
IRCTC started collection of Convenience Fee on e-ticket bookings from 01-Sep-2019 onwards at the rate of H15/- + GST per ticket for Non-AC Classes and H30/- + GST per ticket for AC Classes (including First Class/FC). For BHIM/ UPI payments, the Convenience Fee is being charged at a reduced rate of H10/- + GST per ticket for Non- AC Classes and H20/- + GST per ticket for AC Classes, as per the policy to promote UPI.
Internet ticketing through Ask Disha Chatbot
The advent of e-ticket booking through AskDisha Chatbot heralds a paradigm shift in IRCTC e-ticketing. The seamless integration of Artificial Intelligence and Machine learning has endowed AskDisha with the ability to engage in convenient conversational interactions with customers, rendering the booking process hassle-free. The One Time Password (OTP) sent to the registered mobile number of the user, authentication mechanism adds an extra layer of security to the ticket booking process.
To assist users with their queries and concerns, IRCTC initially introduced an AI-powered chatbot called "Ask Disha" (Digital Interaction to Seek Help Anytime). The chatbot uses natural language processing and machine learning algorithms to understand and respond to user queries in real-time.
Ask Disha is available 24x7 and can be accessed through the IRCTC Website, Mobile App. Users can Ask Disha a wide range of questions related to ticket booking, cancellation, refund, train schedules, station codes, and much more.
Taking this advance and futuristic AI Chatbot to the next level IRCTC has launched e-ticket booking facility on Ask Disha Chatbot in full-fledged manner on 31st March 2022. It has made e-ticket booking accessible in a convenient, conversational manner using voice and chat, which allows users to book train tickets, check their booking status, and even cancel their bookings.
The performance of this cutting-edge technology has been outstanding since full-fledged launch on 31st March 2022. The total number of tickets booked through Ask Disha Chatbot in the financial year 2022-2023 stands at a staggering of 5.78 Lakhs reserved e-ticket booking, with a revenue of Rs. 84.92 Crores. This achievement represents a substantial leap in revenue growth and postulates for sustained expansion in the future.
Segment Overview
With a transaction volume of more than 35.94 million per month and 6.12 million logins per day, the Company operates one of the most highly populated and transacted websites in the Asia-Pacific region.
a. NGeT System: The Next Generation E-Ticketing (NGeT) System was implemented as a replacement for the previous e-ticketing system it has increased the per-minute ticket booking capacity from 2000 to 7200 tickets, significantly improving the systems efficiency. In addition, a state-of-the-art data center has been setup in CRIS premises at Chanakyapuri, New Delhi, to support the upgraded system, increase the capacity and inflow of daily bookings which is regularly updated to keep up with technological advancements. The Company has a strong customer database and leverages the same to crosssell and add value to its products to enhance customer engagement and derive top-line growth.
The NGeT System has capacity to book over 26,000 tickets per minute, making it one of the most efficient online ticketing systems globally. On November 12, 2022, a remarkable feat was made when a record-breaking 28,434 tickets were booked in a minute, showcasing the prowess of NGeT system.
On March 21, 2022, the NGeT system hit a record of 15.88 lakh tickets booked in a single day, further establishing its status as a state-of-the-art technological platform.
b. IRCTC Rail Connect Mobile App e-ticketing: During FY 2022- 23, total average mobile ticket booking was 5.60 Lakhs per day. There are a total of 9.95 Crore downloads of the Mobile App. Daily Mobile Logins are 42.24 Lakhs. During FY 2022-23 more than 2042 lakh tickets were booked as against 1915 Lakh tickets booked in FY 2021-22. IRCTC Rail Connect Mobile is one of the top most rated Mobile App of India in Google play store. Now Rail Connect Mobile App is available on both Android and iOS platforms.
c. IRCTC i-Pay – Payment Aggregator: IRCTCs own Digital Payment Gateway- IRCTC i-Pay (A PCI-DSS Compliant Payment Solution) is one-stop payment solution facilitates payments through all payment modes (like Internet Banking, Debit Card, Credit Card, Wallets, UPI Account & Autopay) and for safe and secure transaction between the merchant website, multiple issuing institutions, acquiring banks and the payment gateway providers. During the Financial Year 2022- 23, i-Pay has generated a revenue of Rs. 95.99 Crores with good profit margins.
d. New User Interface (UI): IRCTC has been constantly contributing to enhance the customer experience and convenience while booking reserved rail e-tickets through its Website and Rail Connect Mobile App with the aim of retaining its customer base. Keeping in mind the same, IRCTC had launched the New User Interface of e-ticketing Website and Mobile App with modified functionalities and some additional features. Revamping of IRCTC e-ticketing user interface was a Digital India initiative, which promises to transform the service delivery experience offered to travellers. Further, the New Interface for e-ticketing enhances user personalisation and facilitation of the IRCTC Website www.irctc.co.in and the IRCTC Rail Connect Mobile Apps (Android & iOS Platforms) with user-friendly features and more comfortable navigation, which is secured with advanced data systems and processes. The look-and-feel of the interface has been changed with a simplified and appealing design.
e. IRCTC Payment System: Payment options and successful transaction rates are critical for the success of the e-commerce industry. IRCTC over the years has developed and nurtured a robust system of payment gateways with various payment options such as Net Banking, Credit Card, Debit Card, Wallets, Cash Cards, BHIM/UPI, Scan and Pay, Pay-On-Delivery / Pay- Later, EMI, etc. for the IRCTC website application and other dedicated web applications and App. Even, foreign users can book tickets using their International Credit Card (Issued outside India) on the available Payment Gateways provided by Atom Technologies and ITZ Cash Card along with other Multiple Payment Options.
The transaction on IRCTCs website is completely safe and has been certified by VISA, VeriSign, RuPay, American Express, Safe Key, mVisa, UPI and Master Secure etc. Bank Account or Card Account details of users are not saved in the servers of IRCTC at the time of booking tickets, thereby ensuring prevention of any misuse.
f. Tatkal Scheme for Reserved Tickets: The Tatkal charges have been fixed as a percentage of fares at the rate of 10% of the basic fare for second class and 30% of the basic fare for all other classes subject to minimum and maximum limits. Tatkal tickets are issued for the actual distance of travel, instead of end-to-end, subject to the distance restrictions applicable to the train. The same Tatkal berth/seat may be booked in multiple legs till preparation of the charts. At the time of preparation of charts, the unutilised ones are released to the General RAC/Waiting list passengers. Tatkal facility is also available in the Executive Class of Shatabdi Express trains by earmarking 10% of the accommodation available i.e. 5 seats per coach. Tatkal booking opens at 10 AM for AC Classes and 11 AM for Non-AC Classes. Tatkal tickets can be booked one day in advance from the train originating station excluding the date of journey of enroute stations. The scheme is available on www.irctc.co.in and IRCTC Rail Connect Mobile App where customers can book tickets on the Tatkal scheme seamlessly.
g. VIKALP Scheme: Travellers who have been put on the waiting list, irrespective of a booking quota or concessions, can choose maximum five trains under this scheme. It does not confirm a berth, since it depends on the availability of seats in the given train. There is no refund or extra fare charged for these changed trains, including the Tatkal prices. Either all passengers of a PNR opting for this scheme will be transferred to alternate trains in the same class or none will. Once confirmed in an alternate train, the cancellation charges apply as per the usual rules. A person can be transferred to any train available within the window as per selection made by the user. The train list once selected under VIKALP can be changed or updated only once.
h. Loyalty Program: In addition to SBI and Bank of Baroda co-branded credit card, IRCTC took another step towards expanding IRCTCs Co-Branded Credit Card cum Loyalty Program on 01st March 2023, IRCTC in collaboration with HDFC Bank launched a new Co-Branded Credit card on the indigenous RuPay platform, under the ambit of the existing Loyalty Program (i.e. SBI & BOB) for rail users, known as the IRCTC HDFC Bank Credit Card. The passenger may book their tickets and purchase other goods from market. The passenger earns loyalty points from it and may book rail tickets using these loyalty points. The payment gateway charges are zero on rail ticket booking using this card. During FY 2022-23 revenue of Rs. 37.52 Crores were received from this segment as against Rs. 37.03 Crores earned in FY 2021-22. There are 12.06 Lakh card holders of this scheme which also includes 4.01 Lakh card holders of Credit Card on RuPay platform.
i. BHIM/UPI Payment Mode: For those users, who make online payment for e-tickets through BHIM/UPI payment mode, Convenience Fee is charged at a reduced rate
@ Rs. 10/- + GST per ticket for Non- AC Classes and Rs.
20/- + GST per ticket for AC Classes (including First Class), to promote digital payments, thereby fulfilling the Digital India mission of the Government of India. During FY 2022-23, total BHIM/UPI transactions were 1454.71 which is 33.73% of total online ticketing as against 1323.78 transactions in FY 2021-22.
j. Travel Insurance: IRCTC introduced the travel insurance for Indian citizens (above five years) who use the IRCTC website application to book their tickets. The travel insurance provides accidental coverage to passengers during their travel with the Indian Railways. In case of an accident due to collision between trains, derailing of the train carrying passengers or any other kind of train accident, the passengers or the nominee can claim compensation. The coverage of the policy will be on a PNR basis and will include death, permanent total disability, permanent partial disability as well as hospitalisation charges. This travel insurance, up to H10 lakhs, is provided to passengers who opt for it by paying a very small premium @ Rs. 0.49 per passenger which was reduced to Rs.. 0.35 per passenger. During the fiscal year total passengers opted for Travel Insurance was 33.75 Crores. Premium collected for this service was 11.77 Crores.
k. Concessional Bookings: The concessional booking facility is also available for Journalists and Divyang (physically challenged) passengers for booking of online tickets on the IRCTC Website and Mobile Apps using ID cards provided by the Indian Railways.
l. Online Booking for Railway Pass Holders: Online booking of Reserved Rail ticket using the Railway Pass has been implemented for Railway employees who are in service. Convenience Fee and Travel Insurance is not applicable for these bookings. During FY 2022-23, 27.40 lakh tickets were booked online using Railway Pass/PTOs as compared to 16.27 lakh tickets FY 2021-22.
m. E-ticketing Portal for Para Military Forces: IRCTC e-ticketing facility proved as an extremely convenient tool for the Paramilitary Forces for handling their reserved train e-ticket requirements, as well as eliminated the need for cumbersome manual processes of railway warrant management, the reconciliation and accounting between Indian Railways and the Ministry of Home Affairs.
IRCTC has developed a dedicated website to maintain the e-ticketing system along with the Warrant Management System for booking of e-tickets through this portal to travel in trains in a hassle-free manner.
Giving further impetus to this progress e-ticketing service for Indo–Tibetan Border Police (ITBP) has been launched on 09-02-2023. Presently, IRCTC serves Seven Central Paramilitary Forces, namely, NSG, CRPF, NDRF, AR, CISF, BSF abd ITBP.
Internet Ticketing Statistics
. No. of E-Tickets and Passengers Booked: A total of 4313.00 lakh tickets have been booked in 2022-23 as compared to 4174.49 lakh in 2021-22. In total, 7706.40 lakh passengers got booked on E-Tickets in 2022-23 as compared to 7343.26 lakh passengers in 2021-22. The ratio of Passenger to Ticket during the year was 1.79:1. b. E-ticketing Revenue Collection: During the year 2022-23, a total amount of Rs. 54313.46 crores was collected as Ticket Fare from the users as E-ticketing revenue, which is 42.26% more than the last years collection of Rs. 38178.32 crores.
New Initiatives taken during 2022-23
• Berth booking Facility for Infant child in IRCTC Rail Connect Mobile App was made available.#
• Introduced e-Wallet registration facility in IRCTC Rail Connect Mobile App.#*
• Default travel insurance option avoiding extra pop-up on passenger reservation page in IRCTC Rail Connect Mobile App was introduced.#*
• Enhanced and simplified user account recovery process in IRCTC Rail Connect Mobile App.#*
• With just a few taps on your smartphone, you can now select your desired quota and easily modify your journey dates on the TRAIN LIST page.#*
• New UI Design for the Dashboard Page launched for customers in IRCTC Rail Connect Mobile App.#*
• IRCTC has developed a dedicated page on Rail Connect Mobile App from where user can check their journey details, schedule of train, train running live tracking etc.#*
• Implementation of new "VISTADOME" class in IRCTC Rail Connect Mobile App.#*
• Proliferation of iPay Booking in IRCTC Rail Connect Mobile App.*
• Refund of Travel insurance premium amount against cancellation of tickets in IRCTC Rail Connect Mobile App started.*
• Changes in IRCTC Rail Connect Mobile App was done to display berth availability statuss last updated time from cache at train list page.*
• IRCTC Server date and time is now displayed on Rail Connect Android Apps TRAIN SEARCH page so as to avoid any confusion due to difference of time on users Mobile device and IRCTC server.#*
• New sleek design of Electronic Reservation Sup (ERS) on booking of e-tickets from IRCTC Website implemented.@
• Loyalty account changes in IRCTC Rail Connect Mobile App done for inclusion of Bank of Baroda card.#
• For IRCTC e-wallet user facilitation from Oct-2022 onwards, IRCTC e-wallet will never expire and will be available lifetime free of cost.#
• Implementation of Rating for capturing user experience in Indian Railways IT applications done in IRCTC Rail Connect Mobile App.#
• Implementation of content cube advertisement widget on Website and Mobile App.#@
• Ask Disha Chatbot service moved to AWS based URL Update in IRCTC Rail Connect Mobile App.#*
• Integration of inMobi Ad Network on Google AD Manager for revenue generation.
• Users can now download ERS on mobile app and request ERS as a pdf form in the mail after booking.#@
• Now User can re-verify Aadhaar details.#
• Non-commercial ISL (Stations) to be displayed with proper information in Route Details in IRCTC Rail Connect Mobile App.#
• Cancellation facility online is available for Current Booking PNRs.@
• Pass/PTO Tickets booked on PRS counters can now be cancelled online at the IRCTC website.@
• Integration of Cache as EMI Payment Provider on Mobile App (iOS Platform) RDS model Mobile App.*
• Hindi Language Mobile App in sync with website in IRCTC Rail Connect Mobile App.#
• Integration of Easebuzz as MPP on IRCTC Rail e-ticketing Mobile Apps on RDS MODEL.#
• Proliferation of booking through Ask Disha Chatbot in Mobile App.#
• Integration of Razorpay UPI in UPI (exclusive) payment option of Rail Connect Mobile App.*
• Integration of Video Ads Widget on IRCTC Website.@
• Changes done in Rail Connect App to Order Food in Train from e-catering.#
• Changes in the position of iPay in Mobile App for proliferation of booking.#
• Biometric based login for Mobile App is initiated to address the complaints of repeated Captcha and difficulty in using the App on 26-Dec-22.
• IRCTC has developed e-ticketing application for Paramilitary Forces for booking reserved rail e-tickets to their personnel. E-ticketing system was commissioned for Indo-Tibetan Border Police (ITBP) for booking Reserved Rail e-tickets for ITBP personnel w.e.f. 09-Feb-2023.
Advertisement/Marketing/Promotional Activities:
• Push Notification Services on IRCTC Website and Mobile App: Through this facility 875 crores Mobile App push notifications and 348 crores Website push notifications were send to users across India for IRCTC in-house products ranging from Bharat Gaurav Tourist trains, E-Catering, Chatbot Booking services to Ramayana Yatra, Bus bookings and many such more items.
• Integration of Ad Network for additional Advertisement revenue –inMobi Ad Network was added to Google Ad Manager on 23-Nov-2022 for facilitating ad-on revenue to IRCTC.
• In order to maximize revenue streams through digital inventory, new placeholder for Cuboid widget ads, video Ads widget was added to IRCTC Website in year 2022.
Data & Cyber Security
The Company relies on state-of-the-art technologies to ensure that the confidentiality, integrity and availability of all its online services and its data are adequately secured from the prevailing cyber security threats. The Company safeguards its data with advanced security systems and successfully defends the system against malicious virus or other cyber threats.
IRCTC E-Ticketing System is a well-protected system, equipped with industry-standard state-of-the-art security technologies for protection from cyber threats and data theft. This includes Network Firewalls, Network Intrusion Prevention System and Web Application Firewalls etc. The website runs on an Extended Validation (EV) SSL/TLS Certificate that provides end-to-end data encryption between the website and its users. Sensitive data like user passwords are stored in encrypted form in the database.
All online payment integration, including net banking and Credit/Debit Card are implemented on the URL-redirection model wherein all users are redirected to concerned banks/ payment gateway websites for the on-line payment process, fully eliminating any chance of Credit/Debit card data leakage at the IRCTC end.
The company had also refreshed the ICT Infrastructure for its Travel & Tourism and Catering services, and has deployed a number of cyber security solutions viz. Web Application Firewalls, Privileged Identity Management, Secure Email Gateway and Malware Sandboxing solutions with the objective of enhancing its cyber security posture.
Showing its commitment toward cyber security, the PCI QSA Services have been hired by the company in Feb 2022 for achieving PCI DSS Security Certification for its Travel & Tourism business. PCI DSS Certification compliance is expected in year F.Y. 2023-24.
In order to provide secure and reliable remote access to its enterprise applications for its workforce, a Zero-Trust based
Secure Access Solution with multi-factor authentication capability is being put in place. The solution will allow IRCTC workforce to safely log in to corporate applications and desktops any-time any-where and to access private applications/systems they need to be efficient and productive. Implementation of the solution will be completed by May, 2023.
Information Security Policies, including Privacy Policy, of IRCTC are uploaded on IRCTC Corporate Portal (under Employee Login). The web link is not available publicly.
Going ahead.....
IRCTC with its optimistic outlook has planned to bring into its system some new projects which not only promise to promote IRCTC brand name but also proves the companys expertise and adaptability to latest innovative technologies in vogue in the market place. At the same time, it is also anticipated to create new businesses and thereby generate additional revenues for the company. Not only widening its business arena, IRCTC, ITC will be using innovative technologies in vogue, for system improvement.
Following are some future projects to be undertaken by Internet Ticketing:
a. Better Payment Services through best in Industry Solutions - IRCTC e-ticketing system has to address the payment and refund issues which is the reason for the largest number of complaints. Integration of single payment orchestration solution is trending in e-Commerce industry for enabling seamless transactions/refunds. IRCTC is now on the path of providing a comprehensive suite of payment solutions on IRCTC ticketing system on a Proof-of-Concept basis. After assessing the success of the POC, long term Integration of such solution will be done in the NGeT System. This solution also envisages simplified integration of preferred payment service providers and also ease of reconciliation and accounting of transactions.
b. IRCTC Heliyatra Online Ticketing System - to Shri Kedarnath Dham
IRCTC has signed an MoU on 22/03/2023 with UCADA for the development of online ticket booking system (www. heliyatra.irctc.co.in) to book Helicopter services from 03 locations (Sirsi, Phata and Guptkashi) to Shri Kedarnath Dham and back. IRCTC Heliyatra online ticket booking system will facilitate the pilgrims with seamless ticket booking for Helicopter journey to visit the Holy Shrine of Shri Kedarnath Dham.
The tenure of MoU between IRCTC and UCADA is for a period of 5 years. This project not only envisages to generate additional revenues to IRCTC, but also depicts the IT skills of the team due to which more such opportunities are anticipated in future.
c. Monetisation of Chatbot Services by extending to Third Party Organisations. Having gained experience in running Chatbot enquiry service on its e-ticketing platform, IRCTC will now extend AI based Chatbot services (like AI Chatbots, VoiceBots, VideoBots, Virtual Assistants, Intelligent RPA, and Bots etc) to government and private organizations across various verticals & functions.
AI powered multi-format, multi-lingual and multi-channel Virtual Assistant will help organisations save operational/support cost and generating additional revenue, besides enhancing customer adoption, engagement and satisfaction.
d. Train Information Enquiry Services to Third Party Operators: Policy for integration of service providers for providing Train Information Services has been framed by IRCTC. Train Information Enquiry Service will be provided to Third Party Operators for dissemination of Authentic Train information (Availability and fare, Trains between Stations, Cluster Station List, Train Schedule, Boarding Stations List, PNR Enquiry, etc.) on their respective platforms to the customers. This service will be integrated with those firms who do not intend to provide online rail ticket booking service, but are interested in providing train related information to their customers. This will not only enhance the customer convenience and satisfaction but also enable to create a new revenue stream for IRCTC, without levying any cost to the customers.
e. Bill Payments & e-Market Place: IRCTC will be providing e-Market place and Bill Payments/ Recharge services and other third party services like Online Insurance on its Website and Mobile App in partnership with third party service providers. This will not only enable the company to diversify its business by way of providing variety of services to its customers and generate additional revenues, but also pave way to sustain in the e-commerce ecosystem and customer retention.
f. Diversification of IRCTC as Fintech Company: iPay, being own business initiative of IRCTC, was started as a pilot project in 2018-19 eyeing its usage in IRCTC websites and huge market opportunity in government businesses where IRCTC iPay becomes a good fit and better equipped to provide customized payment service.
In the times of digital payments and Government of Indias push to make India a less cash economy, there is an immense gap in the demand and supply for such kind of product. Further being a product of IRCTC, a public sector, it shall have an added advantage over private players in lieu of trust and reliability.
In this regard, IRCTC has plans to operate as a payment aggregator ("PA"). For this, IRCTC will be seeking authorization (to the Reserve Bank of India (" RBI ")) under the Payment and Settlement Systems Act, 2007 (" PSS Act ")from RBI
e. System improvement -
• Automated Speech Recognition: Automated Speech Recognition – an Emerging Innovative Technology will be introduced for 139 helpline services. The IVRS will enable natural language based automation speech feature to have a natural conversation experience to the customer in 13 languages. The system will be upgraded for continuous improvement to enable automated reply and to facilitate ease of convenience for users of different parts of the country.
PACKAGED DRINKING WATER (RAIL NEER)
Railneer is a signature product of the Indian Railway Catering and Tourism Corporation (IRCTC). Our packaged drinking water is processed, purified, bottled, and packaged at the state of the art plants and widely available at all major railway stations across the Indian Railway Network.
Rail Neer drinking water has been made mandatory at major railway stations and to step up the production to meet growing demand, IRCTC is setting up various Rail Neer plants across the country.
During FY 2022-23 a new Rail Neer plant at Bhusawal (Maharashtra) with production capacity of 72000 bottles per day has been set up. As on 31st March, 2023, IRCTC has 16 operational plants located at Nangloi, Danapur, Palur, Ambernath, Amethi, Parassala, Bilaspur, Sanand, Hapur, Mandideep, Nagpur, Jagiroad, Maneri, Sankrail, Una and Bhusawal out of which plants at Amethi, Parassala, Sanand, Hapur, Mandideep, Nagpur, Jagiroad, Maneri, Sankrail, Una, Bilaspur and Bhusawal are operated under the PPP model.
Performance of Rail Neer plants during FY 2022-23 as compared with FY 2021-22 is tabled hereunder:
| Financial Year | Production | Turnover | Plant | |
| (bottles in | Rs. ( | In crore) | Utlisation | |
| Crore) | (%) | |||
| 2022-23 | 35.77 | 315 | 73.32 | |
| 2021-22 | 19.86 | 172.26 | 42.60 | |
Quality: Rail Neer Plant at Nangloi, Danapur, Palur and Bilaspur are accredited with ISO: 9001- 2015 quality management system certification and Rail Neer Plant, Ambernath is accredited with ISO:22000-2015 certification.
The result of the tests carried out by the accredited laboratories on Rail Neer Packaged Drinking Water indicates that the quality of Rail Neer conforms to European Economic Community (EEC) norms for pesticide residue.
Technology/Capacity upgradation
To combat design duplication and consequent sale of spurious water, a hologram has been embedded on the Rail Neer bottle as a safety feature on pilot project basis.
IRCTC has developed a Rail Neer App for billing and monitoring Rail Neer distribution operations in plants. This has improved performance of Rail Neer operations and we are capable to utilise it as a decision-making tool.
Rail Neer Carrying and Forwarding Agencies (CFAs) have been empowered to issue invoice through Rail Neer App to licensees, enabling live record and reconciliation of sale and supply of stock to trains and catering units. This has simplified the process of bill settlement in real time, rendering accurate results every time. It has also resulted in savings in stationary and offers time for reconciliation. Further, the data of billing is automatically uploaded on GST portal.
Going ahead...
IRCTCs current production capacity is around 15.52 lakh litres/day, spread over sixteen working plants. With the commissioning of four more plants at Bhubneshwar (Orrisa), Kota (Rajasthan), Simhadri near Visakhapatnam (Andhra Pradesh) & Mallavalli near Vijayawada during 2023-24, capacity will be enhanced to approx 18.40 lakh litres/day.
HUMAN RESOURCE DEVELOPMENT
The Company continues to invest in development of its employees, with a fresh impetus on policy and structural changes. Many progressive schemes have been implemented to improve alignment between individuals and the organisation. Revamping Performance Management System, enhancing employee engagement, strengthening internal communication, use of e-platform based interventions for learning and development, and leadership development are some specific initiatives underway.
As on 31st March, 2023, the Company had a total manpower strength of 2229 personnel with the following details:
| Category | No. of Employees |
| Regular Employees | 1356 |
| Deputationists | 44 |
| On Contract | 162 |
| Out-sourced | 656# |
| Consultants | 11 |
#Engaged through Manpower Service Provider Agency for providing support services.
The percentage of women employees, SC/ST/OBC employees, persons with disabilities and ex-servicemen out of regular employees of the Company is mentioned below:
| Category | No. of Employees | % of total no. of regular employees (1356) |
| Women employees | 114 | 8.40 |
| SC Personnel | 263 | 19.40 |
| ST Personnel | 71 | 5.23 |
| Other Backward | 340 | 25.07 |
| Classes | ||
| Persons with | 13 | 0.95 |
| Disabilities |
Employee Welfare:
Every workplace thrives on the satisfaction of the employees. It has to be ensured that all employees are happy, healthy, safe, and productive. Employee welfare refers to all aspects of a workplace environment that support the well-being of its staff. This includes physical safety, mental health, and stress-management programs. It also encompasses employee benefits such as health insurance, vacation time, retirement plans, and other support services.
Going ahead in this direction, the Company took following initiatives:
• Employees Group Insurance Scheme: Extended the coverage of accidental death as well as natural death amounting to 70 months basic pay plus Dearness Allowance for all employees of IRCTC, including deputationists.
• Compassionate Ground Appointment Policy for IRCTC Regular Employees: Introduced appointment on Compassionate ground for the dependents of IRCTCs regular employees who lost their lives while in service (except in case of suicide), irrespective of the period of service left, till the age of superannuation.
• Employees Contributory Welfare Scheme: IRCTC Employees Contributory Welfare Scheme has been introduced with an aim to provide immediate financial aid to the family in the event of death of an IRCTCs employee. An employee can become a member of scheme on voluntary basis, by contributing a nominal amount of H100/- per month.
• IRCTC Medical Attendance Rules: For medical treatment requiring hospitalization and indoor attention, full reimbursement is being made of the expenses incurred in Empanelled Hospitals, Government Hospitals, Government aided Hospitals, etc. The scheme covers the employees/family suffering from critical diseases viz. Cancer, Renal Failure, Heart Disease, etc.
• Post Retirement Medical Scheme (PRMS): It is a social security measure for the employees and their family members for providing medical care after their superannuation. This scheme is extended to post retirement medical benefit to the eligible employees in IDA pay scale and their spouses who have superannuated/retired/died on or after 01.01.2007 after putting in 15 years of service in CPSE(s). This scheme also covers those employees who have already superannuated, retired or medically retired on or after 01.01.2007).
• Alternative Method of Medical Treatment: To promote the alternative method of medical help, IRCTC is providing free consultation services of Homeopathic Physicians to the employees of the Corporate Office and North Zone. Homeopathic treatment has helped a large number of staff and their families in recovering from illnesses i.e. common cough, cold and prevention of seasonal diseases.
• Funeral expenses of a deceased employee: An amount of H25,000/- is granted as ex-gratia to the dependent family members of the deceased employee as funeral expenses.
• Engagement of Apprentices: As per the Ministry of Skill Development and Entrepreneurship guidelines, IRCTC is duly fulfilling its obligation of engaging apprentices for training in the band of 2.5% to 10% of the sanctioned strength. For this period of training, a stipend is paid to each apprentice as per directives of the Ministry of Skill Development & Entrepreneurship. During the year 2022-23, 68 apprentices (i.e. 5.5% of the total employee strength) were engaged. For 2023-24, the target for engagement of Apprentices is 224.
• Talk to Management: Recently, a scheme ‘Talk to Management has been launched, where an employee/ contractual staff can interact with HR head of IRCTC (i.e. Group General Manager/HRD) informally regarding his/her long pending grievances or any innovative idea for improving the performance of organization or any other issue, without the intervention of his controlling officer/supervisor. The basic idea behind this scheme is to get suggestions from the employees through ‘brainstorming for system improvement of the organization, besides resolving the grievance of the employee.
• Training to Employees: Training Cell has conducted various training programs related to Food Safety & Hygiene, POSH, MDPs, Orientation programs, Virtual campus, during the FY-2022-23 and covered training across all levels. A small glimpse of the trainings conducted during the last financial year 2021-22 and financial year 2022-23 is as under:
| Financial Year | Number of Training Programs | Number of staff trained | Mandays |
| 2021-22 | 26 | 1250 | 6538 |
| 2022-23 | 68 | 1285 | 8529 |
Brief highlights of training imparted:
• Exposure to training of staff was drastically increased as compared to training organized in previous financial year.
• Organizing vast range of training programs having employee centric approach like Work Ethics, Yoga & Meditations, Social & Emotional Health, POSH, GeM, Food Safely for Food Handlers, Orientation Program for Public Relation, Personal & Professional Resilience Post Crisis, Cyber Security, etc.
• Organizing Virtual Classroom season 2 (sessions conducted by AM to GM level Officers) through IRCTC training portal for capacity building of the company.
• Pre exam training for IRCTC Supervisory staff through online mode.
• Bharat Gaurav Train workshop for IRCTC Tourism department.
• Officers were imparted raining through reputed institutes on various management topics whose details are enlisted below
• Competency - Based Interviewing Skills at Bangalore by M/s Institute of HRD.
• 02 day online workshop on "Mindfulness for Organizational Excellence" by SCOPE
• 02 day workshop on " Labour Laws, PF, ESI, Bonus, Gratuity Statutory Compliances" M/s Pricneton Academy at Hotel The Lalit.
• 03 day workshop on " Preventive Vigilance at NFSU, Gandhinagar (Gujarat)
• 02 day online workshop on "Right to Information Act" by NAHRD.
• Workshop for Liaison Officers (SC/ST) (WLO SC/ ST-21) through ISTM.
• Online training Breach Prevention & Response Colloquium by AIMA.
• Leadership Development Programme for
Professionaliz in below board level officials at IICA, Manesar.
• Corporate Branding in Digital Era by IIM Visakhapatnam DPE.
• "Developing Yourself for Managerial Excellence" by Faculty of Corporate Training and Development ( FCTD).
• 01 day Seminar on "Reimagining Indian Railways: Harnessing the Power of Data Analytics for Integrated Transportation" by CRIS.
• 02 days "Asian Packaging Congress - Packaging 3s" by Indian Institute of Packaging (IIP).
• Open House Conclave on "Prevention of Sexual Harassment at Workplace Act 2013" by CSDT.
Details of training programs conducted during FY-2022-23
| S. No. | Name of the Programme | Attended by | Duration (Days) | Attended by | Mandays | Total Training Hrs. | |||||
| 1 | JanMitra training by M/s PCTIL | Supervisors & Above | 2 | 850 | 1700 | 3400 | |||||
| 2 | Fostac training for remaining batches | Workmen & above | 1 | 150 | 150 | 450 | |||||
| 3 | Competency - Based Interviewing Skills at Bangalore by M/s Institute of HRD. | JGM & above | 2 | 2 | 4 | 28 | |||||
| 4 | Administrative Vigilance : Role of IO/PO by M/s ISTM | Supervisors & Above | 5 | 6 | 30 | 150 | |||||
| 5 | Competency - Based Interviewing Skills at Mumbai by M/s Institute of HRD. | AGM & above | 2 | 2 | 4 | 28 | |||||
| 6 | 02 day online workshop on "Mindfulness for Organizational Excellence" by SCOPE | Mgr. & DGM | 2 | 2 | 4 | 32 | |||||
| 7 | 02 day online session on "Mentoring Specialized Training for Metors" by AIMA. | Supervisors & Above | 2 | 8 | 16 | 128 | |||||
| 8 | 02 day workshop on " Labour Laws, PF, ESI, Bonus, Gratuity Statutory Compliances" M/s Pricneton Academy at Hotel The Lalit, | Supervisors & Above | 12 | 1 | 12 | 96 | |||||
| 9 | 01 day workshop on " Implementation of CSR" in CPSEs by SCOPE | GGM & Above | 1 | 1 | 1 | 8 | |||||
| 10 | 1 day workshop on " MSME & GeM " in CPSEs by SCOPE. | GGM & Above | 1 | 1 | 1 | 8 | |||||
| 11 | Webinar on General Cancer Awareness by Dr. Reddy Foundation | All Employees | 1 | 70 | 70 | 560 | |||||
| 12 | Self Empowerment with Yoga by M/s Scope. | Mgr. & Supevisors | 1 | 4 | 4 | 16 | |||||
| 13 | Webinar on POSH | All Employees | 1 | 550 | 550 | 1100 | |||||
| 14 | Yoga at Workplace by Ms. Archana Singh (Yoga Instructor) | All Employees | 3 | 100 | 300 | 600 | |||||
| 15 | Yoga Technologies for Well beings by ISHA Foundation | All Employees | 1 | 110 | 110 | 220 | |||||
| 16 | Meditation for Heathy & Happy Life by Brahma Kumaries | Workmen & above | 1 | 30 | 30 | 90 | |||||
| 17 | Webinar on Total Retirement Solutions by Bajaj Finance | All Employees | 1 | 60 | 60 | 120 | |||||
| 18 | 02 day workshop on " Government e-Market" (GeM) by HLL Management Academy | Ch. Suoervisor | 2 | 1 | 2 | 36 | |||||
| 19 | Webinar on Investment Solutions for Bright Future by Bajaj Finance | All Employees | 1 | 50 | 50 | 150 | |||||
| 20 | 02 day online workshop on "Train the Trainer" by Pinceton Academy | Supervisors | 2 | 4 | 8 | 48 | |||||
| 21 | HR Conclave 2022- HR Shifting Gears by PHD Chamber of Commerce | Manager | 1 | 2 | 2 | 16 | |||||
| 22 | Online training program on " Industrial Control Systems - Security Essentials " by CERT-Ins | DGM | 1 | 1 | 1 | 4 | |||||
| 23 | 03 day workshop on " Preventive Vigilance at NFSU, Gandhinagar (Gujarat) | Director | 3 | 1 | 3 | 72 | |||||
| 24 | Workshop on "Financial statement preparations as per best financial reporting practices" by SCOPE | AM & above | 1 | 2 | 2 | 16 | |||||
| 25 | 02 day online workshop on "Right to Information Act" by NAHRD | Supervisors & above | 1 | 8 | 8 | 128 | |||||
| 26 | Online training on "Lean Methodology" by AIMA | Supervisors & above | 1 | 4 | 4 | 12 | |||||
| 27 | 03 day online training for FSS & IRCTC Kitchen Incharges | Supervisors & above | 3 | 30 | 90 | 810 | |||||
| 28 | Workshop for Liaison Officers (SC/ST) (WLO SC/ST-21) through ISTM. | JGM & above | 2 | 4 | 8 | 64 | |||||
| 29 | Communication and Persuasion in the Digital Age by IIM, Jammu | Mgr & DGM | 5 | 2 | 10 | 80 | |||||
| 30 | Strategic Marketing Management Experience Design and Technology Management Approach in Digital Era by IIT, Guwahati | JGM & AGM | 5 | 2 | 10 | 80 | |||||
| 31 | 2 day training program for Company Secratories (KMPs) by DPE | AGM & above | 2 | 1 | 2 | 32 | |||||
| 32 | 3 day Risk Management workshop at Rishikesh by VMC Consulting | DGM and above | 3 | 3 | 9 | 216 | |||||
| 33 | Online training Breach Prevention & Response Colloquium by AIMA | Supervisors & above | 1 | 3 | 3 | 12 | |||||
| 34 | DPE trainings Sept,22 | Supervisors & above | 5 | 10 | 50 | 6000 | |||||
| 35 | Online workshop on "IT Audit" by Princeton Academy | Supervisors & above | 1 | 7 | 7 | 21 | |||||
| 36 | 2 D Fintech Boot Camp by M/s Think Startup | Supervisors & above | 2 | 25 | 50 | 300 | |||||
| 37 | Virtual Campus Season - II (Inhouse Training) | All IRCTC Employeees | 30 | 80 | 2400 | 19200 | |||||
| 38 | Employability Skills by All India Management Association (AIMA) | All IRCTC trainee | 1 | 20 | 20 | 120 | |||||
| 39 | Online Gamification workshop - ACPCIT by AIMA | AGM | 1 | 5 | 5 | 15 | |||||
| 40 | Leadership Development Programme for Professionaliz in below board level officials at IICA, Manesar | AGM | 3 | 2 | 6 | 48 | |||||
| 41 | MDP on Corporate Reforms and Changing Corporate Strategy at Hyderabad by IPE | Supervisors & above | 2 | 3 | 6 | 48 | |||||
| 42 | 14th National Summits 2022 on "CSR: Regulatory Framework and Challenges" BY CSR Research Foundation | Supervisors & above | 1 | 2 | 2 | 16 | |||||
| 43 | Investigation of Financial Crime by NFSU | Supervisors & above | 3 | 6 | 18 | 144 | |||||
| 44 | Role of HR in building future organizations by Institute of HRD | Mgr. & above | 2 | 2 | 4 | 32 | |||||
| 45 | Corporate Branding in Digital Era by IIM Visakhapatnam DPE. | JGM | 4 | 1 | 4 | 32 | |||||
| 46 | Cyber Crime & Safety Measures by Institute of Public Enterprises, Hyderabad | Excutive & above | 3 | 2 | 6 | 48 | |||||
| 47 | Pre-exam Training for S4 | Chief Supervisors | 15 | 120 | 1800 | 7200 | |||||
| 48 | Risk Mitigation through Forensic Document Examination by NFSU | Manager & above | 5 | 3 | 15 | 120 | |||||
| 49 | "Procurement of CPSEs from MSEs through GeM" by SCOPE | Ch. Supervisor & Mgr. | 1 | 2 | 2 | 16 | |||||
| 50 | 01 day workshop on "Bharat Gaurav Train" (BGT) | GGM & Above | 1 | 5 | 1 | 8 | |||||
| 51 | "Record Management for Record" by Archivist National Archives of India | Mgr. & Above | 3 | 3 | 9 | 72 | |||||
| 52 | "How to Become the Best Version of Yourself- in personal & professional life" by Life Transformation Academy | Ch. Supervisor & Above | 1 | 4 | 4 | 32 | |||||
| 53 | 03 Days Residential Training Programme on "Operation and Maintenance & Advances in Wastewater Treatment Plants (WWTPs)" by M/s National Productivity Council (NPC) | Mgr. | 3 | 2 | 6 | 144 | |||||
| 54 | "Right to information and Prevention, Prohibition and Redressal of Sexual Harassment of Women at workplace" by NIGAM | Mgr. and JGM | 2 | 2 | 4 | 32 | |||||
| 55 | "Developing Yourself for Managerial Excellence" by Faculty of Corporate Training and Development ( FCTD) | JGM & AGM | 2 | 2 | 4 | 32 | |||||
| 56 | Wellness Session on "Epilepsy: Care &Precaution" by Dr. Reddys foundation | DEO(OS) to JGM | 1 | 35 | 35 | 140 | |||||
| 57 | "Record Management for Record" by Archivist National Archives of India | Mgr. & Above | 3 | 1 | 3 | 24 | |||||
| 58 | Fianancial Planning and Tax Saving by Bajaj Capital | IRCTC employees | 1 | 50 | 50 | 200 | |||||
| 59 | 01 day Seminar on "Reimagining Indian Railways: Harnessing the Power of Data Analytics for Integrated Transportation" by CRIS | JGM & AGM | 1 | 3 | 3 | 24 | |||||
| 60 | 01 day Workshop on "Wellness, Fitness & Power Dressing" by M/s Princeton Academy | Ch. Supervisor & Exe. | 1 | 8 | 8 | 64 | |||||
| 61 | 02 day Seminar on "GFR &Public Procurement through Gem" by M/s Indian Railways Institute of Logistics & Materials Management (IRILMM) | Executive and JGM | 2 | 2 | 4 | 64 | |||||
| 62 | 02 days "Asian Packaging Congress - Packaging 3s" by Indian Institute of Packaging (IIP) | GM & JGM | 2 | 2 | 4 | 64 | |||||
| 63 | Online training cum workshop on "Bharat Gaurav Train (BGT)" | IRCTC employees | 1 | 150 | 150 | 900 | |||||
| 64 | Infrastructure Financing by Arun Jaitley DPE | GGM & JGM | 5 | 2 | 10 | 80 | |||||
| 65 | Open House Conclave on "Prevention of Sexual Harassment at Workplace Act 2013" by CSDT | JGM & Mgr. | 1 | 2 | 2 | 16 | |||||
| 66 | 01 day Live Online, Interactive workshop on "Training Need Analysis - TNA" by Princeton Academy | Ch. Supervisors | 1 | 2 | 2 | 8 | |||||
| 67 | Induction Training of newly promoted Asst. Supervisors (WZ,EZ,SZ,SCZ,NZ ) | Asst. Supervisors | 5 | 105 | 525 | 4200 | |||||
| 68 | 6 months online course in Digital Marketing training from IIT Delhi | CMD | 52 | 1 | 52 | 156 | |||||
| Grand Total | 2631 | 8529 | 48430 | ||||||||
Industrial Relations
The industrial relations climate in the Company has traditionally been harmonious and cordial. A collaborative and seamless IR atmosphere has been maintained in the Company so that IRCTCians are ready for the challenges faced by the Company due to the changing business environment. An effective work culture has been established in the company through empowerment, transparency, decentralisation and practice of participative management to support the management in overcoming challenges faced by the Company.
Particulars of Employees
The provisions of Section 134(3)(e) of the Act are not applicable to a Government Company. Consequently, details on Companys policy on Directors appointment and other matters as required under Section 178 (3) of the Act, are not provided.
Similarly, Section 197 of the Act is also exempt for a Government Company. Consequently, there is no requirement of disclosure regarding the statement showing the names and other particulars of every employee of the Company, who if employed throughout / part of the financial year, was in receipt of remuneration in excess of the limits set out in the rules are not provided in terms of Section 197 (12) of the Act read with Rule 5 (1) / (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
USE OF INFORMATION TECHNOLOGY (IT) /ERP
During the year, the Company has adopted, latest upgraded version of ERP "Oracle Release 12". Functional processes like Financial, Purchasing, Inventory Management and all Contracts with enhanced functionalities are implemented in the Company on pan India basis.
All official data of the organization has been maintained electronically in a secure environment with users access rights control.
In addition to the above and aiming to widely use of electronic means in daily routine work, various in-house applications have been designed, developed & implemented in the organization. IT works as a key link between the various user departments. Various initiatives have been taken during the year for benefit of Employees as well as general public.
Drives for internal use by employees of IRCTC:
During the year, the Company has successfully implemented Fixed Asset module of ERP.
Addition to this, various in-house developed of software applications have also been successfully implemented across zones & regions.
a. Performance Management System for online assessment of employees (Workmen, Supervisor & Executive level staff/official) during the year has been successfully implemented in IRCTC. A few key features of the application are highlighted below;
Digital & Easy to access
Role based navigation, Safe & authenticated Time Saving Paperless (Eco-friendly) & Legible (readable for longer period Easy to track Improve efficiency Auto alerts (email)
b. Android based HRMS mobile app for all the employees is successfully implemented. Key features are given below;
I connect (In-house IRCTCs quarterly newsletter) Employee Self Service facility to view; Salary Slip Monthly ITR
Form 16
APAR / PMS Report
Annual Property Return Report Gratuity Nomination Report Policies Online facility of; Leave Management Entitlement
c. Implemented in-house developed open sourced HRMS dashboard for all IRCTC employees. A human resource management system (HRMS) is a software application used to store employee information from Hire to retire (H2R). Modules configured in the system for an easy access of information related to;
Service Record of Employees Public & Personal Information Previous Employment Other Information References
Family Details
Medical Assessment & Verification Initial Joining Details Qualification, Promotions, Punishments, Transfers Document upload
Payroll (Pay slips, Income Tax Sheet, Saving details) Expense / reimbursement (General / Travel)
Developed & implemented online systems for supporting official functioning of Employees & providing more interactive platforms for outside public as well such as;
By using "Tender Tracking & Management System", status of a tender may be ascertained online through this application.
Launched a digitally driven method named "talk to management system" for communicating with management and sharing of ideas for improving the performance of organization. The basic idea behind this special move is to get suggestions from the employees through contrivance for system improvement of the organization.
Efforts taken for general public outside IRCTC
A management tool named "Litigation Management System" is launched for getting status of legal matter at once. Application is developed for Advocates with limited access.
For quick upload of invoice & status tracking an application named "Supplier Bill Status" is developed for vendors.
Digitization of office
Achieved milestone of 100% use of e-office system in IRCTC. Data security is maintained with the help of Digital Signature Certificate.
Mandatory use of GEM for procurement
During the year, GEM portal was extensively used for procurement of capital goods, consumables as well as services across zones & regions.
VIGILANCE
The vigilance wing in IRCTC is a key department acting as direct link between CVC, Railway Board Vigilance and the Organization. It has been entrusted with the responsibilities of mandate to carry on various surprise checks and scrutinize records/documents of various other departments from time to time for timely detection of fraud, malpractices, corruption and unwarranted/unlawful business conduct in the organization. It coordinates with the IRCTC management and Railway Beard vigilance in dealing matters of vigilance administration, policy and disciplinary proceedings against erring officials. IRCTC vigilance wing is headed by full time CVO assisted by Deputy CVO, 3 Vigilance Officers and 3 Chief Vigilance inspectors in the corporate office. There are further 5 Vigilance Officers in various zones handling vigilance related matter in the field. CVO being the extended arm of CVC is deeply engaged in furthering culture of transparency, fair procedures, good business conduct and raising vigilance awareness in the organization. The focus area of vigilance department is to promote work culture of intelligence gathering, monitoring and surveillance. Efforts are being made to undertake pro-active preventive vigilance measures. This is to ensure fair systems and procedures in place thereby increasing transparency and reducing scope for discretion.
During the period 2022-23, the vigilance department investigated in detail 6 complaints and 41 complaints forwarded to concerned department for necessary action. Total 114 preventive/surprise checks were conducted in catering and e ticketing sector. The malpractices and incidents of corruption so detected were communicated to the concerned department for strict action against the licensees and erring employees. The resultant fine recovered was to the tune of H19,90,745/-. Further, on recommendation of Vigilance department, 03 nos. system improvements were implemented by various departments to minimise instances of malpractices, especially in the procurement, catering and e-ticketing sector.
As mandated by CVC guidelines, the CMD undertook periodical review of activities and performance of vigilance department with the CVO. As per the directives of Central Vigilance Commission (CVC) "Vigilance Awareness Week" observed at IRCTC from 31st October, 2022 to 6th November 2022 with the theme, "^??Q>MMMA _W?$ ^MAV - {DH${GV ^MAV"; Corruption free India for a developed Nation"; Corruption free India for a developed Nation" and all employees took "Integrity Pledge". Various programmes/ competitions/ Seminars were conducted in all the offices of the IRCTC with a view to create awareness about preventive measures through system improvement. Moreover, new initiatives were implemented like "TEJASathon" in which interactive session with passengers were done for increasing awareness among general public. It was observed to encourage all stakeholders, employees, associated vendors and citizens to collectively participate and fight against corruption and to raise public awareness regarding the existence, causes and gravity and the threat posed by corruption.
Integrity Pact
IRCTC has implemented the integrity pact programme in line with the recommendations of the Central Vigilance Commission with an objective to ensure that all activities and transactions between a Company or Government departments and their Suppliers are handled in a fair, transparent and corruption-free manner. The adoption of the Integrity Pact by IRCTC has helped in establishing healthy business practices. To ensure transparency and healthy competitiveness in public procurements/ contracts, IRCTC has adopted the Integrity Pact. One Independent External monitor is appointed in IRCTC with the approval of the CVC. Currently Dr. Parvez Hayat, IPS (Retired) is IEM for Integrity Pact in IRCTC. A coordinator has also been appointed for Integrity Pact for monitoring and implementation of Integrity Pact. Integrity Pact now being used in all the tenders which are beyond the identified threshold values.
Whistle-Blower Policy/ Establishment Of Vigil Mechanism
Disclosure regarding establishment of vigil mechanism is included under the Corporate Governance Report at Annexure-"B". Apart from vigil mechanism, Company has a full fledged Vigilance Department headed by Chief Vigilance Officer. The Department operates on the guidelines of Central Vigilance Commission on Vigilance management in Public SectorEnterprises and is guided further by instructions issued by the Department of Personnel and Training. The prime focus of Vigilance activities has been Preventive and Participative Vigilance by having regular interaction with employees and other stakeholders to spread awareness among the masses.
CORPORATE SOCIAL RESPONSIBILITY
The Company has been actively engaged in various CSR activities over the years, encompassing the entire gamut of social welfare / upliftment activities across the nation. The Company has identified thrust areas under CSR, which inter alia include healthcare and sanitation, education and empowerment of women and socially / economically backward groups, etc. During the year, the Company spent the entire budget of H12.53 crore on various CSR activities. A report on the Companys CSR activities as per the provisions of the Companies Act along with the CSR highlights for the year is annexed at Annexure-"C" to the report. The composition of the CSR Committee is provided in the Corporate Governance Report. The CSR policy of the Company can be accessed at the website of the Company on the web link https://www.irctc.com/assets/images/CSR-Vision-Document.pdf
COMPLIANCES
• Right to Information Act
An elaborate mechanism has been set up throughout the Company to deal with matters relating to The Right to Information Act 2005. As required under the RTI Act, detailed information is hosted and regularly updated on the official website of the Company, i.ehttps://www. irctc.com/rti.html which inter-alia includes details of CPIOs / APIOs/Appellate Authorities, third party audited reports on mandatory disclosures, etc. To deal with RTI applications in a fast track mode, IRCTC generates one Unique Registration No. (URN) for each application and the same is replied by the concerned CPIO/PIO well within the prescribed time limit.
The Company has aligned with the online RTI portal launched by DoPT, Govt. of India, and all the applications/ appeals received through the portal are disposed off through the portal only. The Quarterly Reports / Annual Reports are submitted, within the prescribed timeline, on the website of the Central Information Commission, i.e., www.cic.gov.in.
During 2022-23, a total of 1836 RTI Applications and 141 RTI Appeals under the RTI Act, 2005 were received and all the applications were dealt/disposed off in a timely manner.
| Particulars | Opening balance as on 31.03.2022 | No. of applications received as transfer from other PAs u/s 6(3) | Received during the year [including cases transferred to other PAs] | No. of cases transferred to other PAs u/s 6(3) | Decisions where requests/ appeals rejected | Decisions where requests/ appeals replied | Closing balance as on 31.03.2023# |
| Requests | 101 | 0 | 1836 | 348 | 1 | 1555 | 33 |
| First Appeals | 5 | 0 | 141 | 0 | 6 | 138 | 2 |
| #-The pending cases were within stipulated time lime of 30 month as per the RTI Act, 2005. | |||||||
Presidential Directives
The Company follows the Presidential Directives as and when received from Ministry of Railways. However, no Presidential Directive was received during the year.
Rajbhasha (Official Language)
Presently, in the Corporate Office of IRCTC, Group General Manager/Rail Neer has been designated as Chief Official Language Officer and Manager/Services/Administration as Rajbhasha Adhikari to look after the administrative work of Hindi in addition to his normal work. Apart from this, Rajbhasha Sahayaks are regularly performing all types of work under them. Such as execution of works related to the Department of Official Language in all zonal and regional offices of IRCTC, following and guiding the Annual Program issued by the Ministry of Home Affairs, Department of Official Language and informing about all the work related to the Department of Official Language.
Similarly, in all the Zonal and Regional offices of IRCTC, retired officers from the Department of Official Language of Central Government Offices/Undertakings/Public Bodies/ Departments Senior Official Language Officer/Official Language Officer, Senior Translator and Translator have been engaged as Consultant/Official Language. Out of 05 zonal offices of IRCTC, Consultant/Rajbhasha has been posted in 03 Zonal Offices, work of appointing Consultant/ Official Language in the remaining 02 offices North and East Zone is under process.
According to the Official Language Policy of the Government of India, it is required to set up a Hindi book Library in every government office. In which proper arrangement of furniture, Almirah, reading room etc. is necessary. In compliance of the above, a library has been established in the Official Language Department of the Corporation Office. Different types of interesting and informative Hindi books are available in the library. These include novels, story collections, poetry collections and many analytical and informative books on various contemporary subjects by eminent and well-known writers and creators of Hindi literature. All these books are available at the Corporations 10th Floor, IRCTC, Barakhamba Road, Connaught Place, New Delhi-110001.
Hindi Pakhwada 2022
Hindi Pakhwada 2022 organized from 19th to 26th September, 2022 at IRCTCs Corporate Office, Internet Ticketing Center and Punj House. During Rajbhasha Week, instructions were given to propagate the Hindi Day messages of Railway Minister and Chairman and Managing Director/IRCTC in all regional and subordinate offices along with corporateoffice and banners of Rajbhasha Week in every subordinate office of corporate office were displayed.
Various competitions such as Hindi essay, Hindi noting-drafting and word knowledge, Hindi dictation, "Hindis condition and future" - speech competition etc. were organized. A total no. of 162 contestants participated in the competitions held this year 2022.
Inspection by Parliamentary Committees
Official Language Inspection of IRCTC Zonal Offices, South Zone/Chennai, South Central Zone/Secunderabad, East Zone/Kolkata and its Regional Offices, Jaipur and Patna by the Second Sub-Committee of the Committee of Parliament on Official Language were successful during the year 2022 and expressed satisfaction over the progress of Official Language in IRCTC office and praised the work done in official language. Certificates were awarded by the Parliamentary Committee on Official Language for successful inspection and excellent coordination of zonal offices of IRCTC.
Inspection of Regional Office/Jaipur.
The second sub-committee of the parliamentary committee inspected Jaisalmer, Jodhpur and nearby Central Government offices/undertakings from February 24 to 28, 2023. In which Jaipur, office was inspected on February 28, 2023 which was completely successful.
Inspection of Zonal Office/Chennai.
On 18.05.22, the Committee of Parliament on Official Language inspected the office of IRCTC, Southern Zone. In this meeting, the parliamentary committee was chaired by Mrs. Rita Bahuguna Joshi, in which Mrs. Ranjanben Bhatt, Mr. Manoj Tiwari, etc. MPs were present. The Parliamentary Committee appreciated the systematic and well coordinated work done by the Chennai office.
Inspection of Zonal Office/Secunderabad.
On 24.08.22, the Committee of Parliament on Official Language inspected the office of IRCTC, South Central Zone. The meeting was chaired by the Parliamentary Committee, Smt. Rita Bahuguna Joshi.
Inspection of Regional Office/Patna.
On 10.05.22, the Committee of Parliament on Official Language inspected the Regional Office of IRCTC, Patna. In this meeting, the Parliamentary Committee was chaired by Mr. Bhatrihari Mahtab, in which Mrs. Rita Bahuguna Joshi, Mr. Manoj Tiwari, Mrs. Sangeeta Yadav etc. MPs were present.
Apart from this, the quarterly meetings of the Corporation Official Language Implementation Committee are organized regularly at the end of every quarter by the Department of Official Language. The corporate office regularly participates in the meetings of the Railway Hindi Salahkar Samiti organized in the Railway Board, the meetings of the Railway Board Official Language Implementation Committee, the meeting of the Railway Official Language Officers and all the meetings organized by Narakas (undertakings). IRCTC and its zonal & regional offices are also active member of the Official Language Implementation Committee (NARAKAS) which consists of all the Top Undertakings of the Government of India.
Disclosure Requirement under Sexual Harassment of Women at Work Place Act (Prevention, Prohibition and Redressal Act) 2013
The provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules thereon are being strictly complied with. The Company is committed to the prevention of sexual harassment of women at workplace and takes prompt action in the event of reporting of such incidents. In accordance with the Act, to provide protection against sexual harassment of women at workplace and to maintain their safety, IRCTC has nominated the Internal Complaints Committee(s) with the composition as required under the Act, at the Corporate Office as well as Zonal offices of the company.
During the FY 2022-23, three (3) complaints under Sexual Harassment were filed, out of which two (2) were disposed off during the year. However, as on March 31, 2023, one (1) complaint was pending, which has also been resolved after the closure of the financial year
Procurement from Micro and Small Enterprises (MSEs)
In line with the Public Procurement Policy of the Government of India, as amended, the Company is required to procure minimum 25% of the total procurement of Goods and Services from MSEs, out of which 4% is earmarked for procurement from MSEs owned by SC / ST entrepreneurs and 3% from MSEs owned by women. The procurement from MSEs during FY 2022-23 was as under:
| Parameters | Targets | Actual |
| Total Procurement from MSEs (General, Reserved SC/ST & Women) | 25% | 36.51 % |
| Procurement from | 4% (Sub-target | 0.057 % |
| Reserved SC/ST MSEs | out of 25%) | |
| Procurement from | 3% (Sub-target | 0.64 % |
| Women owned MSEs | out of 25%) |
The deficit under the sub-targets was due to non-availability of vendors;
Several initiatives were undertaken to identify the entrepreneurs for procurement of goods and services from MSEs owned by SC / ST enterprises.
In exercise of powers conferred by Section 9 of the Micro, Small and Medium Enterprise Development Act, 2006 (27 of 2006), the Central Government issued instructions all CPSEs shall be required to get themselves on boarded on the Trade Receivables Discounting System (TReDS) platform, set up as per the notification of the Reserve Bank of India.
In compliance with the above instructions, your Company is on the TReDS platform to facilitate financing of trade receivables of MSEs by discounting of their receivables and realisation of their payment before the due date.
During FY 2022-23, 01 complaint (Rail Neer) was filed by the MSEs, on MSME SAMADHAN – Delayed Payment Monitoring System, which is under hearing in MSEFC.
COMPLIANCES UNDER COMPANIES ACT 2013 / SEBI (LODR) REGULATIONS 2015
Annual Return
As required under the provisions of the Companies Act, 2013, the Annual Return is hosted on the Companys website and can be accessed from the link https://irctc. com/Annual%20Return.html
Deposits
The Company has not accepted or invited any deposits from the public under Chapter V of the Companies Act, 2013 read with Companies (Acceptance of Deposit) Rules, 2014 during the year under review. Therefore, the information required to be reported under Rule 8 (5) (v) of Companies (Accounts) Rules, 2014 is NIL.
Further, as provided in Secretarial Standards, information regarding details of National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT) orders with respect to depositors for extension of time for repayment, penalty imposed, if any is also NIL.
Particulars of loans & guarantees given, investments made and securities provided
During the year, the Company has not provided any loan, made any investment; or provided any guarantee under section 186 of Companies Act, 2013 read with Companies (Meetings of Board and its Powers) Rules, 2014. Therefore, the information to be reported under section 186 of the Companies Act 2013 is NIL.
Contracts and arrangements with related parties
In line with the provisions of the Companies Act, 2013 & SEBI guidelines, a policy on material RPTs has been framed, which can be accessed on the link https://www.irctc.com/ assets/images/IRCTC%20RPT_07112022.pdf
The Company has undertaken transactions with related parties (Ministry of Railways, Government of India, Government companies/departments under Ministry of Railways, such as CRIS, Railtel and RVNL) during the year in the ordinary course of business and at arms length. The disclosures related to RPTs in accordance with applicable accounting standards are provided at Note-44 of the Standalone Financial Statement of the Company.
In view thereof, Form No. AOC-2, in terms of Section 134(3) (h) read with Section 188 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014 is annexed to report as
"Annexure-Rs.".
Internal Financial Control System
Your Company has put in place adequate Internal Financial Controls by laying down policies and procedures to ensure the efficient conduct of its business, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records, and timely preparation of reliable financial information commensurate with the operations of the Company. Effectiveness of Internal Financial Controls is ensured through management reviews, self-assessment and independent testing by the Internal Auditor indicating that your Company has adequate Internal Financial Controls over Financial Reporting in compliance with the provisions of the Companies Act, 2013 and such Internal Financial Controls are operating effectively. The Audit Committee reviews the Internal Financial Controls to ensure its effectiveness for achieving the intended purpose. Independent Auditors Report on the Internal Financial Controls of the Company in terms of Clause (i) of Sub-Section 3 of Section 143 of the Companies Act, 2013 by the Statutory Auditors is placed along with the Financial Statements.
M/s S.K. Gujarati, Chartered Accountants were engaged for certification of internal financial control (IFC) for FY 2022-23, in accordance with the provisions of Companies Act, 2013.
The report of Internal Auditor and Internal Financial Control was placed before the Audit Committee for the consideration and deliberations. Details of the internal control system are provided in the Management Discussion and Analysis Report given at Annexure-"A".
Risk Management
The Company has formed a Board Level Risk Management Committee and the details of the composition, meeting held and terms of reference are included under the Report of Corporate Governance placed as Annexure -B.
The Company also has a below Board level Committee constituted of GGM level officers, including GM (Quality projects & Corporate Co-odrdination) as Chief Risk Officer (CRO). The functions of the Committee are to identify the risks related to the specific business segments of IRCTC in order to establish an appropriate risk management framework in the Company.
During quarterly meetings of below Board Risk Management Committee, various risks have been identified and deliberated at the Board level committee. Some of the major risks identified are as mentioned below:
(i) Strategic and Business Risks (ii) Reputation Risk (iii) Business Continuity Risk (iv) Catering Operations Risk (v) Rail Neer Operations Risk
The details of the identified risks with their mitigation strategies are mentioned in the Management Discussion & Analysis Report enclosed as Annexure-"A".
Significant and Material Orders
There are no significant or material orders passed by the regulators or courts or tribunals impacting the going concern status and the Companys operations in future.
Secretarial Standards
The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India to the extent applicable.
Investor Education & Protection Fund (IEPF)
The details of unpaid / unclaimed dividend and shares transferred to the IEPF in compliance with the provisions of the Companies Act, 2013 has been provided in the Corporate Governance Report.
Reporting of frauds by auditors
The Auditors in their report for the year have not reported any instance of fraud committed by the officers/employees of the Company.
Credit Rating of securities
During FY 22-23, the Company has not received any credit rating by the rating agencies. Further details are mentioned in the Corporate Governance Report.
Corporate Insolvency Resolution Process initiated under the Insolvency and Bankruptcy Code, 2016
The Company has no information to disclose under above.
Failure to implement any Corporate Action
The Company has implemented all Corporate Actions successfully within prescribed timelines. Therefore, the Company has nothing to report.
Green initiatives in Corporate Governance
In line with relaxations extended by MCA and SEBI due to the Covid-19 pandemic and in furtherance of the ‘Green Initiative, the Company has effected the delivery of Notice of the AGM and the Annual Report through electronic mode only to those Members whose e-mail IDs were registered with the respective Depository Participants viz. National
Securities Depository Limited and Central Depository Services (India) Limited. Further, as a part of green initiative, the agenda for the meetings are sent through electronic mode ensuring encryption and password protection.
Particulars relating to Conservation of energy, Technology Absorption and Foreign Exchange Earnings and Outgo etc.
The details pertaining to Conservation of Energy and Technology Absorption; and Foreign Exchange Earnings and Outgo, as required to be disclosed under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 is given as under:
All out efforts and initiatives are taken by IRCTC to minimise adverse environmental impacts from its operations, products & services by using processes, practices, materials and products that avoid, reduce and control pollution. Compliance with the relevant environmental laws and effective operation of the various pollution control facilities are ensured at all the plants/units for ensuring a safe and clean environment and to reduce the dependence on conventional energy sources.
Further, in its catering operations, the Company has adopted several innovative techniques to save energy and water in its Base kitchen at NDLS by shifting on Piped Natural Gas based cooking instead of traditional LPG cylinder and re-using of RO waste water in cleaning, washing and bathrooms at BK-NDLS.
The details on the above are mentioned in the Business Responsibility Report enclosed as Annexure – "D".
Technology Absorption-
Details are mentioned below in the table:
| S. No. | Particulars | Status |
| (a) | the details of technology imported; | NIL |
| (b) | the year of import; | NA |
| (c) | whether the technology has been | NA |
| fully absorbed; | ||
| (d) | if not fully absorbed, areas where | NA |
| absorption has not taken place, and | ||
| the reasons thereof; |
• Expenditure incurred on Research and Development.
Your Company does not undertake exclusive research projects as it does not have the presence in such a domain. However, to improve the technical capability and enhance competence, some methods and techniques have been developed and innovative systems have been introduced for its business segments.
• Foreign Exchange Earnings and Outgo
The Foreign Exchange earned in terms of actual inflows during the year and the Foreign Exchange outgo during the year, in terms of actual outflows, compared to previous year is mentioned below:
(Rs. in cr)
| Particulars | 2022-23 | 2021-22 |
| Foreign Exchange | 27.37 | 19.37 |
| Earning | ||
| Foreign Exchange | ||
| Outgo | ||
| Foreign Travelling | 0.23 | 0.01 |
| Expenses | ||
| Other Expenses | 0.24 | - |
Retirement of Directors by Rotation
In accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Shri Neeraj Sharma, ED (PM), Railway Board & Government Nominee Director and Shri Ajit kumar, Director (Finance) are liable to retire by rotation at the ensuing 24th AGM of the Company and being eligible, offers themselves for re-appointment. The details of such directors seeking re-appointment at ensuing AGM are contained in the Notice of AGM.
Policy on Performance Evaluation of Directors
The provisions of Section 134(3)(p) of the Companies Act, 2013 require a listed entity to include a statement indicating the manner of formal evaluation of performance of the Board, its Committees and of individual Directors. However, the said provisions are exempt for Government Companies as per Ministry of Corporate Affairs (MCA)s notifications dated 05.06.2015 and 05.07.2017. IRCTC being a Government Company under the administrative control of the Ministry of Railways is also exempted from the above mentioned provisions of Companies Act.
In IRCTC, the evaluation of performance of Functional Directors includes self-evaluation by the respective functional directors and subsequent assessment by CMD with final evaluation by the Ministry of Railways.
The performance evaluation of CMD includes self evaluation and final evaluation by the Ministry of Railways.
In respect of Government Nominee Directors, their evaluation is done by the Ministry of Railways as per the procedure laid down. Since, Independent Directors are appointed by the administrative ministry, their evaluation is also done by the Ministry of Railways and Department of Public Enterprises.
KNOWLEDGE MANAGEMENT SYSTEM
Aiming to achieve significant pinnacle through a common knowledge management portal, which helps in identifying, creating, organising, distributing and transferring vital knowledge among employees within and across organisations, therefore, the SAMANVAYA platform has been developed by the Department of Public Enterprises. IRCTC is an active member on the platform and updates the details related to the Company regularly.
Likewise, the DRISHTI Dashboard has been created as a part of Vision New India 2022 to reform the role and responsibilities of CPSEs through real-time monitoring of their action plans, derived from the challenges posed out of the CPSE Conclave. The company has fed the information on the portal and regular updation is also being done.
MEMORANDUM OF UNDERSTANDING
The performance of the Company has been rated as "Excellent" based on the outcomes achieved with reference to the key performance indicators (KPIs) enshrined in the Memorandum of Understanding (MoU) for the financial year 2021-22.
AWARDS AND ACHIEVEMENTS
1. On World Tourism Day and IRCTC Foundation Day i.e. 27th Sept, 2022; IRCTC received two National Tourism Awards 2022 for :
- Tourism Promotional Film (Northern Region) for Buddhist Circuit Tourist Train- Short Film (05.38 minutes).
- Most innovative use of Information Technology- Social Media/ Mobile App/ Website (Northern Region).
2. Green ECO-Tourism Destination Award of the year / Asias Green Future leader awards.
3. Women Leader of the year / Asias Green Future leader awards.
4. Green CSR Initiative Awards of the year / Asias Green Future leader awards.
5. Best Luxury Train - Maharajas Express, Best Heritage Experience-Golden Chariot, Best Luxury Rail Operator IRCTC / Luxury Segment travel Awards 2022 by Seven Star Media Corporation
6. Asias most trusted companies awards 2022 / IBC Corporate Awards 2022.
7. Use of Emerging Technologies Artificial intelligence / Governance now PSU IT Awards.
Joint Ventures/Subsidiaries
The companys only Joint Venture with Cox & Kings Limited, with 50:50 equity in the name of Royale Indian Rail Tours Limited (RIRTL), was incorporated on 27th November, 2008 with an objective to acquire, furnish, maintain, manage and operate luxury trains and to market holiday packages with such luxury trains as an integral part.
Accordingly, a luxury train having 23 coaches was manufactured, fabricated and funded by the company and was marketed in the name of Maharajas Express and was leased to the Royale Indian Rail Tours Limited (RIRTL) for the purpose of running, operating and managing the luxury tourist train for a period of 15 years. However, due to certain issues between the equity partners, the lease of the luxury train was withdrawn and the JV Agreement dated 10th December, 2008 was terminated on 12th August 2011. The Honble Supreme Court permitted IRCTC to operate the said luxury train. Cox & Kings Limited initiated arbitration proceedings seeking restoration of Joint Venture Agreement. The final arguments have been addressed before Arbitral Tribunal and the Award has been reserved vide hearing dated 09.05.2023.
IRCTC has also filed a petition against Royale Indian Rail Tours Limited (RIRTL) and Cox & Kings Limited and others before National Company Law Tribunal (NCLT) (erstwhile Company Law Board) under sections 388B, 397, 398, 399 and 403 of the Companies Act, 1956 and the said petition is sub-judice and listed for arguments. NCLT has declared the said company (RIRTL) to be in managerial dispute. Details of the Joint Venture are covered in the notes to accounts of the financial statements for the periods ending 31st March, 2023 vide note no. 37.2 and 45. The parties have also taken permission from the NCLT for not holding the Board and General meetings of RITRL without its approval in July, 2013.
Consolidation of financial statements
As mentioned in the paragraph above, the Board meetings and general meetings have not been held in RIRTL since financial year 2010-2011, due to pending dispute with Cox
& Kings Limited. Therefore, the consolidation of financial statements as required under section 129(3) of the Companies Act 2013 could not be done as also explained and disclosed vide Note No. 45 of the Notes to accounts of the financial statements for the period ending 31st March 2023.
AUDITORS
Statutory Auditor
Under Section 139(5) of the Companies Act 2013, Comptroller & Auditor General of India has appointed M/s P. R. Mehra & Co., Chartered Accountants as Statutory Auditor of the Company to audit the financial statements for the financial year 2022-23. The details of payment made to Statutory Auditor during financial year 2022-23 on consolidated basis is mentioned below:
| Particulars | Amount (Rs. in crore) |
| Statutory Audit Fees, Tax Audit Fees and | 0.31 |
| Limited Review Fees |
Secretarial Auditor
Pursuant to Section 204 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, IRCTC has appointed M/s Kumar Naresh Sinha & Associates, an independent firm of practicing Company Secretaries to conduct Secretarial Audit for the financial year 2022-23.
The Secretarial Audit Report for the financial year ended March 31, 2023 is enclosed as Annexure-"E" to this report.
Internal Auditor
As per the Section 138 of the Companies Act, 2013 read with Rule 13 of Companies (Accounts) Rules 2014, the Company has appointed M/s S. Ramanand Aiyer & Co., Chartered Accountants, an independent accounting firm to undertake the assignment of internal audit for FY 2022-23. The details regarding scope and functions of the firm is placed in the Management Discussion and Analysis Report.
Cost Auditor
The business segments of IRCTC are not covered under Cost Audit Rules notified by Ministry of Corporate Affairs. However, the Company conducted the cost audit of cost records maintained by the Rail Neer Plants on a voluntary basis only through M/s Rs..M.V.N & Associates as the Cost Auditor for the year 2022-23.
COMMENTS OF COMPTROLLER & AUDITOR GENERAL (C&AG) OF INDIA
The Comptroller & Auditor General of India has undertaken supplementary audit on the financial statements of the Company for the year ended 31st March, 2023 under Section 143(6) of the Companies Act, 2013.
The comments of the C&AG on the Annual Accounts of the Company for the year ended 31st March, 2023 shall also form part of this report.
DIRECTORS RESPONSIBILITY STATEMENT
The Board of Directors of the Company in pursuance of section 134 (5) of Companies Act, 2013 confirms that:
(i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;
(ii) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period;
(iii) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
(iv) the Directors have prepared the annual accounts on a going concern basis; and
(v) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMPs)
The Chairman & Managing Director (CEO), Director (Finance), Director (Catering Services), Director (Tourism & Marketing), Chief Financial Officer and Company Secretary are Key Managerial Personnel (KMPs) of the Company.
The following changes have taken place in the Board of Directors and Key Managerial Personnel of your Company since the last Annual General Meeting:
i. Shri Vishwanath Shanker (DIN: 07903588), former ED (Planning), Railway Board and Government Nominee Director, ceased to be a Director of the Company w.e.f. July 29, 2022, in accordance with Ministry of Railways Order No. ERB-I/2022/2/59 dated July 29, 2022.
ii. Shri Debashis Chandra (DIN: 08641893), former Director (Catering Services), attained the age of superannuation and ceased to be a Director of the Company w.e.f. September 01, 2022.
iii. Shri Manoj Kumar Gangeya (DIN: 09744752), ED (Planning), Railway Board was appointed as Government Nominee Director on the Board of IRCTC w.e.f. September 21, 2022, pursuant to Ministry of Railways Order dated September 19, 2022
iv. Dr. Lokiah Ravikumar (DIN: 10045466) was appointed as Additional Director {Director (Catering Services)} on the Board of IRCTC w.e.f. February 11, 2023, pursuant to Ministry of Railways letter dated February 09, 2023.
v. Smt. Seema Kumar (DIN: 10064353), AM (T&C), Railway Board was appointed as Additional Director {Chairman and Managing Director (Additional Charge)} on the
Board of IRCTC w.e.f. June 01, 2023, in accordance with Ministry of Railways letter dated May 29, 2023.
vi. Shri Kamlesh Kumar Mishra (DIN: 10186377), ED(BD), Railway Board was appointed as Additional Director {Director (Tourism & Marketing) (Additional Charge)} on the Board of IRCTC w.e.f. June 01, 2023, in accordance with Ministry of Railways letter dated May 29, 2023.
vii. Shri Devendra Pal Bharti (DIN:10198557) was appointed as Additional Director (Independent Director) on the Board of IRCTC w.e.f. June 05, 2023, in accordance with Railway Boards Order dated June 05, 2023.
The following Directors are holding office as on the date of the report:-
| S. | Particulars | Date of Appointment |
| No. | ||
| 1. | Smt. Seema Kumar (DIN: 10064353), AM (T&C), Railway Board & Chairman and Managing Director (Additional Charge) | From 1st June, 2023 onwards |
| 2. | Shri Ajit Kumar (DIN: 07247362) Director (Finance) | From 29th May, 2020 onwards |
| 3. | Dr. Lokiah Ravikumar (DIN: 10045466) Director (Catering Services) | From 11th February, 2023 onwards |
| 4. | Shri Kamlesh Kumar Mishra (DIN: 10186377) ED (BD), Railway Board & Director (Tourism & Marketing) | From 1st June, 2023 onwards |
| 5. | Shri Neeraj Sharma (DIN 08177824) ED (PM), Railway Board & Part-time Government Director | From 12th July, 2018 onwards |
| 6. | Shri Manoj Kumar Gangeya (DIN: 09744752) ED (Planning), Railway Board & Part-time Government Director | From 21st September, 2022 onwards |
| 7. | Shri Vinay Kumar Sharma (DIN: 03604125) Independent Director | From 9th November, 2021 onwards |
| 8. | Shri Namgyal Wangchuk (DIN: 09397676) Independent Director | From 12th November, 2021 onwards |
| 9. | Shri Devendra Pal Bharti (DIN: 10198557) Independent Director | From 9th June, 2023 onwards |
INTEGRAl REPORTS
The following reports as reproduced in the table below with relevant sub-appendices form an integral part of this Directors Report, and have been placed with their Annexures respectively:
| Name of the Report | Annexure |
| Management Discussion and Analysis Report | "A" |
| Report on Corporate Governance | "B" |
| Annual Report on CSR and Sustainability Activities | "C" |
| Business Responsibility & Sustainability Report | "D" |
| Secretarial Auditor Report | "E" |
| Management replies to observations contained in the Secretarial Auditor Report | "F" |
| Management replies to remarks contained in the Independent Auditors Report | "G" |
| Form AOC-2 | "Rs." |
The Management Discussion and Analysis Report provides an overview of the affairs of the Company, its legal status and autonomy, business environment, mission & objectives, sectoral and segment-wise operational performance, strengths, opportunities, constraints, strategy and risks and concerns, as well as human resource and internal control systems
[Annexure – "A" ].
The Report on Corporate Governance highlights the philosophy of Corporate Governance and Key Values of the Company, composition of its Board of Directors and its Committees, their details including profile of directors who joined the Board during 2022-23 and thereafter, attendance and remuneration of directors etc., other relevant disclosures and general information for shareholders [Annexure – "B"]. It is supplemented by the following compliance certificates:
i. Certificate signed by the Chairman & Managing Director affirming receipt of compliance with the Code of Conduct and Key Values from all Board members and Senior Management personnel during the year 2022-23. (placed at Appendix – "B1");
ii. Certificate from Chairman & Managing Director and Director Finance (CFO) with respect to the truth and fairness of the Financial Statements, due compliances, and financial reporting (placed at Appendix – "B2");
iii. Certificate of compliance of Corporate Governance provisions signed by a practising company secretary (placed at Appendix – "B3");
iv. Certificate by practising Company Secretary regarding non-disqualification of directors of the Company (placed at Appendix-"B4").
The Annual Report on CSR and Sustainability Activities provides a brief outline of the companys CSR and Sustainability policy, the composition of the CSR Committee, the average net profit of the Company for the last three financial years, prescribed CSR expenditure, and details of CSR spent on the activities / projects undertaken during the financial year etc. [Annexure – "C"].
Business Responsibility and Sustainability Report
As per Regulation 34 of SEBI (LODR), 2015, the top one thousand listed entities based on market capitalisation (calculated as on March 31 of every financial year) shall include in its Annual Report a business responsibility and sustainability report (BRSR), describing the initiatives taken by them from an environmental, social and governance perspective, in the format as specified by the SEBI from time to time.
Accordingly, considering the fact that the Company, as of 31st March 2023, is amongst the top 1000 listed entities as per the criteria, the business responsibility and sustainability report is prepared and annexed to this report as Annexure –"D".
Secretarial Audit Report
Pursuant to Section 204 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, IRCTC has appointed M/s Kumar Naresh Sinha & Associates, Company Secretaries, an independent practicing firm of Company Secretaries to conduct Secretarial Audit for the financial year 2022-23. The Secretarial Audit Report for the financial year ended March 31, 2023 is annexed to this Report [Annexure –"E"].
The replies of the management to the observations contained in the Secretarial Audit Report for the FY 2022-23 are placed as Annexure-"F".
The replies of the management to the remarks/emphasis of matter made by the Independent Auditor in his report on the financial statements for the year 2022-23 are placed as
Annexure-"G".
The Form AOC-2 prescribed under clause (h) of sub-section (3) of section 134 of Companies Act and Rule (8) of the Companies (Accounts) Rule is enclosed as Annexure-"Rs.".
ACKNOWLEDGEMENTS
Your Directors gratefully acknowledge all the support and guidance extended by Ministry of Railways, Ministry of Tourism, DIPAM, Ministry of Finance, Department of Public Enterprises, various State Governments, and all other departments and agencies of the Government of India in the Companys operations and developmental plans. The Directors also express their gratitude to the Comptroller and Auditor General of India, Statutory Auditors, Secretarial Auditor and Cost Auditors for constructive suggestions and continuous cooperation.
The Directors place on record their sincere appreciation towards the Companys valued customers and esteemed shareholders for the support and confidence reposed by them in the management of the Company and look forward to the continuance of the same in future.
The Directors also wish to place on record their appreciation for the continued cooperation received from all the technology collaborators, suppliers, contractors and for the support provided by the financial institutions, bankers and stock exchanges.
Your Directors also wish to place on record their sincere appreciation for the diligent efforts, hard work and commitment put in by all IRCTC employees.
For and on behalf of Board of Directors
| (Seema Kumar) | |
| Place: New Delhi | Chairperson & Managing Director |
| Date: 04.07.2023 | DIN: 10064353 |
2024, IIFL Securities Ltd. All Rights Reserved
Follow us on
ATTENTION INVESTORS
- Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
- KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
- No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Risk Disclosure on Derivatives
- 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
- On an average, loss makers registered net trading loss close to Rs. 50,000.
- Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
- Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
We are ISO 27001:2013 Certified.
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.
IIFL Securities Support Whatsapp Number
+91-9892691696
+91-9892691696Download The App Now
MARKET
MUTUAL FUNDS
TRADING DOCUMENTATION
CALCULATOR
2024, IIFL Securities Ltd. All Rights Reserved
Follow us on
ATTENTION INVESTORS
- Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
- KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
- No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Risk Disclosure on Derivatives
- 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
- On an average, loss makers registered net trading loss close to Rs. 50,000.
- Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
- Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
We are ISO 27001:2013 Certified.
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.