Indian Railway Catering & Tourism Corporation Ltd Directors Report.

Dear Shareholders,

The Directors are pleased to present the 21st Annual Report on the operations and results of your Company together with the audited financial statements, Auditors Report and review of financial statements by the Comptroller and Auditor General of India (CAG) for the financial year ended 31st March, 2020. The detailed financial and operational performance of the Company is produced in the report.


The key highlights of the financial performance of the Company during F.Y.2019-20 along with the corresponding performance in F.Y.2018-19 are mentioned below:

(Rs in Crores)

Particulars F.Y. 2019-20 F.Y. 2018-19 % age Increase/
Turnover 2275.48 1870.00 21.68
Total Income 2353.54 1958.94 20.14
Profit before tax 745.35 478.56 55.75
Provision for Tax 216.78 170.00 27.52
Profit after tax 528.57 308.56 71.30
Dividend (including Interim dividend of Rs 160 Crores for 2019-20 and Rs 60 Crores for 2018-19) 200 122.37 63.44
Reserves & Surplus 1167.82 911.02 28.19
Net Worth 1327.82 1071.02 23.98
Earnings Per Share (Rs) 33.04 19.12 72.80

a. Disinvestment through IPO

The Government of India announced the disinvestment of Companys shares during the financial year 2019-20. Accordingly, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, appointed IDBI Capital Markets & Securities Limited, SBI Capital Markets Limited and Yes Securities (India) Limited as Book Running Lead Managers (BRLMs) and Crawford Bayley & Co. and Hogan Lovells International LLP as Domestic and International Legal Advisors for carrying out the process of disinvestment of 2,01,60,000 equity shares (including Employee Reservation Portion of 1,60,000 equity shares i.e. 0.10% of paid-up share capital) i.e. 12.60% of the paid up equity share capital of the Company through Initial Public Offering (IPO) of shares by the Promoters (i.e. Government of India) to the public.

The public issue was opened on 30th September, 2019 and closed on 3rd October, 2019 at an offer price of Rs 320/- per equity Share (including a share premium of Rs 310/- per equity Share) with discount of Rs 10/- per equity share for retail investors and eligible employees.

The Companys IPO received an overwhelming response and was subscribed more than 112 times, making it the most successful IPO in last two fiscal years and so far the best performed IPO in respect of PSUs.

The Companys shares were admitted into both the depositories i.e. National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) and are traded under International Securities Identification Number (ISIN) – INE335Y01012. The Companys shares were listed on 14th October, 2019 on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).

The proceeds of the issue amounting of Rs 637.97 Crores was credited to the account of Government of India, PAO, DIPAM. Listing of equity shares has made the Company more recognizable and has enhanced the brand image of IRCTC.

b. Capital Structure:

As on 31st March, 2020, the Authorised share capital of the Company was Rs 250 Crores comprising of 25 Crores equity shares of Rs 10/- each and paid up share capital of the

Company was Rs 160 Crores comprising of 16 Crores equity shares of Rs 10/- each. In the beginning of the year, the entire equity share capital of Rs 160 Crores was held by President of India and its nominees.

Due to the disinvestment announced by Govt. of India, as mentioned in the para (a), 2,01,60,000 equity shares were offered through IPO. Subsequent to the IPO, the President of India held 13,98,39,944 shares and 56 shares were held by the nominees of President of India [seven nominees holding eight shares each]. However, these 56 shares held by seven nominees of President of India were also transferred to President of India, during the year. In view of above, as on 31st March, 2020, the President of India (Government of India) through Ministry of Railways holds 13,98,40,000 equity shares i.e. 87.40% of the paid up equity share capital of the Company.

The details of dematerialization of shares, Demat Suspense Account / Unclaimed Suspense Account is provided in the Corporate Governance Report as annexed to this report.

c. Dividend

The Board of Directors had declared an interim dividend of Rs 10/-per equity share (i.e. 100% on the paid-up share capital of Rs 160 Crores) amounting to Rs 160 Crores on the paid-up share capital of Rs 160 Crores, in February 2020. The said interim dividend was paid to all the shareholders in March 2020. Further, the Board of Directors in its meeting held in July, 2020 has recommended, a final dividend (over and above the interim dividend) of Rs 2.50 per equity share (i.e. 25% on the paid-up equity share capital of Rs 160 Crores) amounting to Rs 40 Crores, out of profit for the year 2019-20, subject to approval of the shareholders in the AGM.

As per the guidelines issued by Department of Investment and Public Asset Management (DIPAM) 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. With this, the total dividend for year 2019-20 would be aggregated to Rs 200 Crores (i.e. 125% on the paid-up equity share capital of Rs 160 Crores), which works out to 37.84% of the post-tax profits for 2019-20 and 15.06% of Networth as at 31st March, 2020.

Your Company, in a short span of six months of its market debut, made its place in the list of top 500 listed companies, based on the market capitalization of the Company, as on 31st March 2020. The Company ranked 131st and 129th on BSE and NSE respectively, at the end of the financial year 2020.

In view of above and 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. The Dividend Distribution Policy is given as a separate annexure as Annexure-E and is available on Companys website i.e.

d. Transfer to Reserves

During 2019-20, the Company transferred Rs 35.00 Crores to

General reserves.

e. Contribution to Revenue of 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 413.56 Crores during the year as against Rs 316.38 Crores during the previous year. Contribution to the revenue of (MoR) comprises of Haulage Charges, Concession fee, License fee, User Charges and Dividend.

2. COVID-19

We all witnessed an unprecedented global breakout of the COVID-19 pandemic in the last quarter of financial year 2019-20, leading to a humanitarian crisis, lockdown across many countries and a significant economic fallout.

In India, the second half of March saw an intensified slowdown due to the virus outbreak, resultant containment measures by various states and finally, a nation-wide lockdown. Though, 2019-20 financials did not see a significant impact of Covid-19, the first quarter of FY 21 may observe an adverse impact on the Companys revenue as the entire Tourism and Hospitality industry in India as well across the world has been impacted from the pandemic. Since the situation is quite volatile, the Company is assessing and monitoring the situation regularly.

As a responsible citizen, we stood with the nation in the fight against COVID-19 and despite huge constraints, distributed more than 21 Lakhs meals cooked food items to the needy people at various locations across the country in close coordination with the Local Administration, NGOs and Railway Protection Force (RPF) from our 30+ kitchen units set up at various locations. The Company also distributed around 2.72 Lakhs railneer bottles to Delhi and Mumbai police personnel during the lockdown period. We also supplied around 3.26 Lakhs meals in 1st phase of "Shramik Special trains" (from 1st May 2020 to 7th May, 2020) run by Indian Railways for migrant labourers.

As directed by SEBI, vide its circular no. SEBI/HO/CFD/ CMD1/CIR/P/2020/84 dated 20th May, 2020, the Company filed the disclosure regarding material impact of Covid-19 on IRCTC business and details regarding Companys readiness to combat the challenge posed by this pandemic. The Companys financial statements for the year 2019-20 also reflected the impact of Covid-19 to the extent applicable.

IRCTC is a reputed brand in the travel and hospitality industry in our country, and as team, is in all preparedness to gradually commence our activities by adhering and ensuring all safety health protocols issued by Government of India. A periodical review on the pandemic situation across the country along with the feedback from our valued customers will help us to foray and enter the new normal for hospitality sector in the post Covid-19 scenario.


The segment wise operational performance of the Company during FY 2019-20 is detailed below:

a. Catering & Hospitality;

b. Travel & Tourism;

c. Internet Ticketing;

d. Packaged Drinking Water (Rail Neer).

Railway Catering

i. Mobile Catering

Mobile catering refers to catering services provided to rail travellers aboard a train, through a pantry car (on-board cooking facility) attached to the train or base kitchens (large cooking and packing facility within/near Railway premises for food preparation and distribution to trains or static units) located at major stations in the country.

As on 31st March 2020, IRCTC managed on-board catering services on 417 trains (24 Rajdhanis, 2 Tejas, 1 Gatiman, 2 Vande Bharat, 23 Shatabdis,18 Durontos and 347 Mail/ Express trains).

As per Catering Policy-2017, IRCTC is supposed to unbundle catering services by creating a distinction, primarily between food preparation and food distribution. IRCTC has set up some new kitchens and has also upgraded existing ones to prepare the food under its own supervision. The process for setting up and upgradation of more kitchens is underway. These kitchens are being provided with modern equipments. Details of new/upgraded kitchens have been mentioned under respective head.

ii. Train Side Vending (TSV)

A large number of trains do not have pantry cars attached to them. To arrange for on-board catering services on such trains, IRCTC appoints a Licensee for operation of Train Side Vending (TSV), who arranges food which includes Standard Meals viz., Breakfast & Lunch/Dinner in partial and complete unbundling model to be picked up from Nominated /Approved Kitchen units en-route and serve to passengers according to their needs through vendors, who travel on the trains and pick up orders. As on 31st March, 2020, contracts for 26 sections over Indian Railway network have been finalized for provision of TSV services for trains without Pantry Cars.

iii. Pantry Car design and development

IRCTC is in the process of re-designing of pantry cars with modern equipment, as per the directions of the Railway Board, to implement flameless cooking. A new design submitted to Rail Coach Factory Kapurthala was finalized in consultation with RDSO. Accordingly, Railway Board has been requested to direct RCF to manufacture 02 prototype Pantry Cars with flameless cooking facility. On the basis of performance of prototype pantry car, all pantry cars will be re-designed.

The significant features of redesigned Pantry cars would include, compact pantry cars with all modern flameless cooking equipment, fully AC LHB coach, adequate storage facility for dry and perishable items, sufficient staff berths (23 nos.), proper exhaust system, appropriate garbage bins etc.

iv. Base Kitchens

Base Kitchens are large cooking and packing facilities set up in the vicinity of railway premises whether inside or outside Railway premises from where food is prepared and disturbed in trains or to the static units.

As on 31st March, 2020, IRCTC managed 11 Base Kitchens, located at New Delhi, Howrah, Ahmedabad, Patna, Mumbai Central, Mumbai CST, Ballarshah, Nagpur, Balasore, Sealdah and Kharagpur Jn. The Base Kitchens at New Delhi and Howrah are managed departmentally, i.e. by IRCTC itself. However, for other locations, service providers have been engaged for operations. Third party food safety supervisors have been deployed at these kitchens to test the food samples, to standardise the procedure and to train the staff.

With an aim to bring uniformity in passenger experience, the Company introduced new technology to monitor the food production process in its base kitchens. The new system comprises a network of CCTV cameras, installed at its Base Kitchens.

Total 46 Base Kitchen/Kitchen units have been linked with CCTV cameras to enable live streaming from these kitchens.

As per Catering Policy 2017, IRCTC has to set up modern Base Kitchens for production of hygienic meals that will be transferred to trains. Accordingly, 55 locations have been identified for setting up base kitchens/ kitchen units and work for the same is in process. In 2019-20, seven kitchens have been upgraded.

Quality Control

To make provision for standard quality meals and service for passengers, IRCTC has put the following system in place.

(i) Regular & Surprise Inspections: Surprise Inspections are carried out in trains and static units of IRCTC by Executive & above level officers of IRCTCs Zones and designated Railways officers. Necessary corrective actions are taken on the deficiencies noticed during these inspections.

(ii) Food Safety Supervisors: Two National Accreditation Board for testing and calibration laboratories (NABL) accredited labs have been assigned the task of ensuring quality in bulk production units. Food Safety Supervisors in 40 production units have been assigned accordingly. Food Safety Supervisors monitor food preparation, conduct daily/ weekly/ audits as per specified criteria and impart routine training to the kitchen staff and collect food samples for lab testing on a regular basis, to ensure quality food production.

(iii) Food Sampling: Food samples are regularly picked up by the designated Food Safety Supervisors deployed by IRCTC and Indian Railway Officials from all the units and sent to NABL accredited labs for testing.

(iv) On Board deployment of Catering Supervisors: IRCTC has deployed supervisors/ Catering assistants for regular monitoring of catering services on all premium/Mail/ Express trains having pantry cars and also to address the grievances of passengers on real time basis

(v) Unbundling Model: Food is being supplied from designated Base kitchens to the trains as per the unbundling policy (Catering Policy 2017). Standard meals are loaded from en-route IRCTC nominated Kitchen Units to trains. IRCTC has deployed food safety supervisors in the kitchens to ensure good quality and correct quantity of food.

(vi) QR Codes: QR codes are being affixed on meal boxes supplied from IRCTC kitchen units. Passengers can scan these QR codes and get information about date of preparation, name of kitchen, FSSAI, weight, live CCTV streaming link etc. As on 31.03.2020, QR codes on 29 units have been made live. IRCTC has finalised contracts for QR Codes in 38 Base Kitchens. Out of these, QR codes are being attached to meal packets from 29 Kitchen Units and it is going to be implemented in 09 other kitchen units. Moreover, another 25 units will also be covered soon.

(vii) CCTV Monitoring: To ensure real time monitoring of Kitchen units, IRCTC has installed CCTV cameras in IRCTC kitchen units. These cameras are being monitored 24 X 7 at IRCTC Corporate Office and Central control. The general public can also view live feeds from CCTVs through Rail Drishti portal. 46 Kitchen units have already been linked to Rail Drishti portal to enable Live streaming facility.

(viii) POS handheld billing Machines: To eradicate overcharging, IRCTC has made mandatory for its vendors to issue invoices through POS machines. 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 POS. All units also have facility for cashless transaction of one or another kind, as per viability and demand. Nearly 5000 POS machines have been installed and are being used in 347 Mail Express trains.

(ix) Metallic plate: For public awareness regarding POS billing, IRCTC has installed 12256 Metallic plates on trains informing passengers, "If you dont get bill, your food is free". The above plates have been fixed at prominent places inside various trains

Periodic Screening by Independent Agencies:-

(i) Third Party Food Audits: Third Party Food Safety & Hygiene audits are conducted by NABCB (National Accreditation Board for Certification Bodies) accredited Auditors in all base kitchens, trains, Food plazas/Fast Food Units. In year 2019-20 third party food safety & hygiene audit were conducted in all important trains and static units.

(ii) Customer Satisfaction Survey: In year 2019-20 Customer Satisfaction survey has been conducted in all IRCTC managed trains regularly by MRSI (Market Research Society of India) member Agencies to get the feedback and opinion of travelling passengers.

Static Catering

Static catering refers to catering services offered to patrons at static units at railway establishments located at railway stations across the country.

These static units include Jan Ahars (unit serving economy combo meals comprising of regional and local items), Cell Kitchens (mini base kitchens supplying food to trains or static units), Refreshment Rooms (unit where a-la-carte items, ready-to-eat meals, and thali meals are served), Food Plazas (multi-cusine plaza serving food items at market-driven rates), Fast Food Units (major units selling fast food items through self-service counters), and Food Courts (cluster of stalls selling food items such as branded products/eatables).

IRCTC managed 169 Refreshment rooms, 56 Jan Ahaars and 24 Cell Kitchens as on 31st March, 2020. These units are situated on Railway platforms and sell low budget eatables. A list of items to be sold on these units along with their prices is provided by Ministry of Railways/IRCTC. These units usually sell items to passengers on the platform and sometimes supply food to moving trains.

Food Plazas(FPs)/Fast Food Units(FFUs)/Food Courts:

Fast Food Units are major units, where through self-service counters, fast food items are sold. In these outlets, packaged food is served to customers in take-away packets.

Food Plaza is a multi-cuisine plaza giving a variety of choice for eating. The quality and rates for items of food plazas are market-driven. Food court is a cluster of stalls at a nominated place, where food items such as branded products/eatables are provided.

The food plaza/fast food unit business is a segment where prices are market driven. Food Plazas normally provide multi-cuisine food under one roof, in a relaxed dine-in atmosphere with a good ambience and a common kitchen to provide a wide variety of food items.

During the year, the Company commissioned 16 Food Plazas and 40 Fast Food Units, thereby managing 293 operational units as on 31st March, 2020.

The company also awarded – 21 FPs and 34 FFU during 2019-20. The total earnings from FPs/FFUs for FY 2019-20 have been approximately Rs 67.77 Crores. IRCTC has roped in branded players like Dominos, Adyar Anand Bhawan and Hotel Sravana Bhawan in FY 2019-20.

In FY 2020-21, IRCTC plans to commission approximately 50 additional Food Plazas (FPs)/Fast Food Units (FFUs).


E-Catering service allows passengers to book food from partner restaurants. Food is directly delivered to passengers in respective train berths. Booking of food has to be done in advance. Services are available through select stations to bonafide passengers in reserved trains only i.e. based on PNR. It has been introduced to provide a range of options to passengers for ordering food of their choice. The prices of food booked under e-Catering are market driven. Menu is freely set by restaurants depending on common preferences.

This service was started on Indian Railways in 2014 with limited vendors, in 28 trains. Subsequently, it was based out of stations and has been expanded to 358 stations. As of now, 690 vendors (either directly associated with IRCTC or are under 08 appointed food aggregators) are currently providing e-catering services on these stations. On an average, 21,571 meals were booked per day through e-catering in Financial Year 2019-20, in comparison to 11,858 meals per day in 2018-19, registering a growth of 82%.

A number of brands like Dominos , Subway, Haldirams, Faasos, Biryani Blues, A2B, Sravana Bhawan, Nirulas etc. have already associated with e-catering platforms of IRCTC.

Growth of e-Catering

Financial Year Total Meals (booked) Meals per day % increase vis-a-vis previous year
2014 – 2015 1490 22
2015 – 2016 161679 443 1914
2016 – 2017 1559670 4273 865
2017 – 2018 1893511 5188 21
2018 – 2019 4328312 11858 129
2019 –2020 7873415 21571 82

This service can be availed by train passengers, through the website - and mobile App – Food on track, which is available on both Android and iOs platforms, along with telephone calls to 1323. The short code 1323 can also be used for customer support.

To ensure transparency, system generated invoices are issued to passengers against each e-catering order, which is the first-of-its-kind service on Indian Railways.

Executive Lounges

The Company opens world class Executive lounges (private areas) as part of development of Indian Railways. Executive lounges is one of its class fully air conditioned facility, where railway passenger can stay while waiting for train.

IRCTC has set up 06 Executive Lounges at New Delhi, Agra Cantt, Jaipur, Ahmedabad, Madurai & Sealdah and 3 more stations viz. Varanasi Jn,. Hazarat Nizamuddin, New Delhi (Paharganj side), are expected to be commissioned in FY 2020-21.These lounges are provided with airport like ambience, resting facilities and buffet facilities.

Retiring Rooms

With a view to provide improved passenger amenities and effective post-arrival/pre-departure facilities by utilising the available resources at Railway Stations, Ministry of Railways has mandated IRCTC to renovate, operate and maintain Retiring Rooms at Railway Stations. Accordingly, IRCTC undertook the renovation work at all A-1 & A category stations through reputed private hospitality service providers, to upgrade Retiring Rooms with star hotel like facilities. The tariffs are different at different category of stations and service providers have the flexibility to charge as per facilities and standards provided. Common facilities available in the Retiring Rooms include 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. The refurbished Retiring Rooms have been appreciated and praised by passengers at large.

IRCTC has awarded contracts of Retiring Rooms for 14 stations in 2019-20. Total 09 locations have been commissioned in 2019-2020. For FY 2020-21, 5 more Retiring Rooms are expected to be commissioned.

Budget Hotels

IRCTC has been mandated by the Indian Railways for developing, operating and maintaining Budget Hotels. The sites have been given to IRCTC on license basis with permission to sub-license the rights to third party through Public-Private Partnership.

The Company is presently operating two Rail Yatri Niwas at Ginger Rail Yatri Niwas, New Delhi and Sampath Rail Yatri Niwas Howrah and two BNR Hotels from Puri and Ranchi.

Performance of MOU Targets for the year 2019-20 and achievements thereof: (i) Imparting of Recognition of Prior Learning (RPL) training to employees of Contractors by IRCTC in coordination with National Skill Development Corporation (NSDC) under Pradhan Mantri Kaushal Vikas Yojna (PMKVY) scheme.

During the fiscal year 2019-20, IRCTC/CO launched RPL training on pan India level. Under this program IRCTC Licensee Catering Staff (Steward, Cook & Pantry Car Manager) engaged in onboard catering services got short term skill training to improve catering services in trains. A total of 7,444 staff enrolled for the training and 5598 candidates have successfully completed their training and were provided with skill certificates from MSDE (Ministry of Skill development & Entrepreneurship).

Complaint Monitoring and Redressal:

IRCTC has developed an internet based module for Catering Services Information Management or (E-CSIM), with a comprehensive portal for its catering business. The module is also being used for online redressal of catering complaints at stations and on trains. Alternatively, a passenger can also give feedback or make complaints against catering services on ‘Rail Madad, which allows passengers to lodge complaints through mobile app/website and enables them to check redressal status in real-time.

Digitisation of Information:-Catering Service Information Management (CSIM)

IRCTC is one of the largest public sector company in the field of hospitality and has always emphasized the need for a computerized database for streamlining its vast catering and packaged drinking water business and also to ensure transparency and foster better relationship with its business partners.

With this aim, the company launched its Catering Services Information Management (CSIM) portal, on 1st April, 2019. The portal offers comprehensive information about the catering business of IRCTC, for all stakeholders including railway zones, licensees, employees and customers. The module covers all verticals of the hospitality business such as mobile and static catering, Rail Neer package drinking water, water vending machines, e-catering, retiring rooms, executive lounge and budget hotels.

The CSIM dashboard provides vital information about the catering and hospitality business of IRCTC. All related tools of the module visually track, analyze and display key performance indicators, metrics and key data points to monitor and respond to the exact status of licensee, vendors and customers feedback. As on date, a total of 251 licensees of mobile and static catering units and water vending machines are registered in CSIM.

CSIM, with its various modules in different hospitality product lines, mobile catering, static catering, water vending machines and Rail Neer package drinking water, has a database of various units, licensees and other stakeholders of these business segments. It provides features for automatic license fee calculation, invoice generation and payments tracking to ensure seamless operation on a day to day basis.

CSIM also has a separate module for registering complaints related to Mobile, static and WVM units from different sources eg. Rail Madad / 139 / Twitter / CPGRAM / Zones etc. The complaints are duly acknowledged and redressed by the concerned officials / Licensee and the same is updated in the system. The process aims at to ensure maximum corporate governance through digitisation.

The other important feature is the facility to upload and view vital documents related to the catering and hospitality business, such as MoUs, policies, reports, and Parliament Questions. It provides access to questions as well as answers given related to various catering verticals. A search bar is also available for accessing the databank in future.

The in-house CSIM module is a dynamic pool of information related to various catering and hospitality business and is being used as a rule book for departments and it has brought about much needed automation, leading to greater efficacy in operations of the catering departments. IRCTC is continuously upgrading its CSIM module to enhance operational ease and transparency in the catering business.


India, with its rich and diversified historical, natural and cultural heritage, is home to numerous attractive tourist destinations. The countrys geography and topography has a tremendous potential to attract tourists from across the globe.

With globalization and overall development of the country in terms of infrastructure and tourism facilities, foreign tourist arrivals to India has tripled from 3 Million per year in 2003 to around 11 Million in 2018 and analysts expect to see more than 30 Million tourists in India annually, by 2028. At the same time, domestic tourism to all states and Union Territories have improved Indias rapidly growing tourism sector and it now plays a huge role in the nations economy, supporting tens of millions of jobs and generating billions of dollars each year.

In its annual analysis quantifying the global economic and employment impact of Travel & Tourism in 185 countries and 25 regions, the World Travel & Tourism Councils (WTTC) research reveals that the sector accounted for 10.4% of global GDP and 319 Million jobs, or 10% of total employment in 2018. Domestic tourism, which represented 71.2% of all tourism spending in 2018, had the strongest growth in developing nations and it continues to support opportunities for development and regional economic benefits. India contributed 6% to Global Travel and Tourism GDP Growth in 2018. The report further forecast that by 2029, India will have nearly 14 Million ‘new travelling households, which will be second only to China. India stood at the 8th position, among the Worlds Top 20 largest Travel & Tourism economies in 2018.

As per the report of WTTC, Travel & Tourism contributes to 10.4% of Global GDP and is directly responsible for generating one in 10 of the worlds jobs, and for eight successive years, has outpaced the growth of the global economy. However, the Corona pandemic affected the travel and tourism business drastically. The research conducted by WTTC shows a severe Travel & Tourism GDP loss of up to US$2.1 trillion, globally, in 2020. It estimates that upto 75 Million jobs in global Travel & Tourism are at immediate risk due to the coronavirus pandemic. However, the real impact on Tourism due to the virus outbreak is yet to be ascertained.

IRCTC in Tourism Business

IRCTC, today, has become one of the leading travel and tourism companies in the market catering to the needs of diverse tourist segments. With the strength of being a Railway PSU, IRCTC specialises in rail tourism, and, at present, is the market leader in this segment. Besides rail tourism, IRCTC has also diversified into various other tourism businesses for increasing the market share in the immensely competitive tourism market.

The various tourism business segments of IRCTC include Luxury Train Tours Maharajas Express, Buddhist Circuit Special Train, Bharat Darshan Special Tourist Trains, Rail Tour Packages, International and Domestic Air packages, Land Tour Packages, Hotel booking, Customised and LTC tours and Event Management, Initialisation of operation and management of Private Trains operated on sectors like, Lucknow- Delhi- Lucknow, Ahmedabad- Mumbai- Ahmedabad and Varanasi- Indore- Varanasi. IRCTC has an exclusive tourism portal, for booking various tourism products through a single platform.

The income from Travel & Tourism Business of IRCTC has observed increase of 18.29% from Rs 251.25 Crores in 2018-19 to Rs 297.20 Crores in 2019- 20. The Income from State Teerth Tourism Business of IRCTC has observed a decrease of 51% from Rs 194.57 Crores in 2018- 19 to Rs 94.94 Crores in 2019-20.

Since the virus outbreak in December 2019, inbound, outbound and domestic tourism was impacted and IRCTC was also affected due to this crisis. Most of the tourist trains such as Bharat Darshan, Pilgrim special, State specials, and luxury trains like Maharajas Express, Golden Chariot, Buddhist Special Trains etc planned for last quarter of 2019-20 were to be cancelled. The outbound tours planned to various international destinations had to be called off. There had been an evident reduction in domestic tourists which affected our domestic tourism products such as Rail Tour Packages, Holiday Packages, LTC Tours etc.

Domestic Tourism

(i). Rail Tour packages - This is a comprehensive package of IRCTC, where it offers an all-inclusive package with confirmed onward and return rail journey tickets along with road transfers, accommodation, meals and sight-seeing at reasonable rates. During the year 19-20, more than 13,630 tourists have availed the RTP service of IRCTC against a total of 9,606 tourists in the previous year.

(ii). Holiday packages - IRCTC also operates Holiday Packages (Land Packages) which includes road transfers, accommodation, meals and sight-seeing. In FY 2019- 20, a total of 58,337 passengers availed IRCTC land packages against 33,725 passengers in the previous year.

(iii). Packages with charter coach and train - These are all-inclusive packages like Rail Tour Packages, where the train travel is arranged through chartered coaches or trains by IRCTC. In FY 2019- 20, IRCTC operated 22 RTP with charter trains/ coaches catering to 1211 passengers whereas, during FY 2018-19, IRCTC conducted 12 tours and served 610 passengers.

(iv). Customized tour package - IRCTCs flexibility in accommodating the demands of the customer is clearly demonstrated in customised tour packages. These packages are tailor-made as per the requirement of the tourists and are designed according to budget, level of luxury, places of Interest etc. During the year, a total of 1700 tourists availed these packages.

(v). Leave Travel Concession (LTCs):

Government of India has authorised IRCTC as one among three PSUs for operating LTC tours. IRCTC offers general and customised LTC packages to Government employees. IRCTC arranged exclusive LTC packages for 19 passengers. All IRCTC tours qualify for LTC travel.

(vi). Domestic Air packages

Air packages are increasingly becoming popular. IRCTC operated packages from all the Zones to various destinations like Shirdi, Goa, Delhi, Tirupati, Gangtok, Darjeeling, Kalimpong, Andaman & Nicobar, Ladakh, Srinagar, Kashmir, Mumbai, Mysoor, Coorg, Bangalore and more. During the year, 6464 passengers availed 322 domestic air package tours.

(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 students. During the year 2019- 20, a total of 1,47,451 students (including students of Delhi local tours) benefitted from our Educational tours.

Inbound Tourist Targeted Tours

(i) Maharajas Express

Maharajas Express has created a brand image for IRCTC in the international arena, as a luxury tourism brand. Launched in the year 2010, the Maharajas Express has been awarded as the Worlds leading Luxury Tourist Train consecutively from 2012 to 2018, at the World Travel Awards. Maharajas Express operates on four different itineraries. Three packages cover 6 Nights/ 7 Days and one 3 Nights/ 4 Days package is designed to visit 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 The train is operated during the tourist season, from September to April.

During the year 2019-20, a total of 1,074 tourists availed the services of Maharajas Express over 25 trips, as against 1142 tourists in 32 trips in the previous year. Average Passenger per trip has increased from 36 pax during 2018-19 to 43 pax during 2019-20.

(ii) Buddhist Circuit Special Train:

IRCTC operates The 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 Pilgrimages in India and Lumbini in Nepal. The new rake of Buddhist Circuit Train has advanced features like Two Dining Cars, Vacuum Bio-toilets, Air Suspension springs, Security lockers, modified 2AC coaches with side seating facility, On-board housekeeping & security, CCTV cameras, accidental insurance facility, Foot massager & Mini library, etc. The itineraries have been uploaded with departure dates on the website of the train During the year, a total of 365 tourists travelled through this train as compared to 408 tourists in 2018-19.

(iii) 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 in November 2019. The Agreement was signed in the august presence of Honble Minister of State for Railways, Sh. Suresh Angadi, Honble Minister of Tourism, Govt. of Karnataka, Sh. C T Ravi, Chairman, Railway Board, Sh. V K Yadav and other senior officers of Ministry of Railways, IRCTC and KSTDC.

IRCTC took over physical possession of the train in January 2020 and a number of refurbishment works were initiated, including change of upholstery and drapery, replacement of floor carpets in rooms to vinyl flooring, complete renovation of bathrooms and floor of both restaurants, installation of new corridor carpets, repair and procurement of new kitchen equipment, procurement of smart TVs with subscriptions to Netflix, Amazon, Hotstar etc. for all guest cabins, procurement of crockery, cutlery, glassware, room and restaurant linen of international repute. New features were added to the train including installation of CCTV cameras in public areas, and installation of fire alarm system. Provision for seamless wifi connectivity was also enabled in the train.

Three trips of an itinerary Pride of Karnataka were planned in March - April 2020 to mark a new beginning of the train. The 6 Nights/7 Days trip would have covered Bandipur National Park, Mysore, Halebidu-Chikmangalur, Hampi, Badami-Pattadakal-Aihole and Goa. These trips were cancelled due to the outbreak of Coronavirus.

Website of the train was revamped and online booking facility was added to it to promote direct bookings on the website. Agents within India were sensitised about the enhanced features of the train and new itineraries and international marketing was also initiated.

However, due to various restrictions imposed by countries including India, on the movement of international travellers due to the Covid-19 pandemic, trips had to be cancelled.

Itineraries and departure dates for the season 2020-21 and 2021-22 have already been announced and published on the official website www.goldenchariot. org. Three itineraries viz. Pride of Karnataka (6 Nights/7 Days), Jewels of South (6 Nights/7 Days) and Glimpses of Karnataka (3 Nights/4 Days) have been planned for various destinations in Karnataka, Tamil Nadu, Kerala and Goa.

(iv) Outbound Tour Packages

Realising the potential of the outbound tourist market in the country, IRCTC has started operating outbound tour packages to various tourist destinations across the world. In FY 2019- 20, approx. 3,629 tourists availed the outbound tour packages and generated an income of Rs 27.98 Crores for IRCTC, as compared to 4,164 tourists and an income of Rs 27.38 Crores in FY 2018-19.

The MoU 2019-20 target of "Increase in revenue from International & Domestic Air packages over previous year" by 15% (Excellent) has been achieved by IRCTC inspite of the setbacks caused due to the Coronavirus outbreak.

Air Ticketing And Corporate Travel

(i) Online Air ticketing:

IRCTCs air-ticketing micro-site provides online booking facility of Domestic as well as International Air-tickets at very competitive prices with the lowest facilitation charges in comparison to Online Travel Agents (OTA) in the market.

IRCTC Air has the facility of Mobile app for Android and IOS users, which is a boon for making Airline bookings on the go.

During FY 2019- 20, an average of 5688 air tickets were booked, per day, through IRCTC air ticket website as compared to 4,676 air tickets in FY 2018-19, registering a growth of approx 20%, surpassing the MoU 2019-20 target of "Increase in Air Ticket booking over previous year by 15%" (Excellent).

IRCTC is also providing insurance coverage of Rs 50 Lakhs to each passenger on complimentary basis for all online bookings made through web & app.

(ii) Corporate Travel Business:

IRCTC offers complete Travel Solutions for Corporates, including air ticketing, booking of domestic LTC tickets as well as International tickets, hotel bookings, Visa facilitation, Insurance etc. IRCTC has tied-up with more than 110 PSUs/ Ministries/ Government Departments & institutions.

Mass Tourism

(i) Bharat Darshan/ Aastha Circuit Tourist Train:

One of the most popular tourism products of IRCTC, Bharat Darshan Tourist Trains are special tourist trains offered by the company to primarily target the common man. These trains operate from various cities across the length and breadth of the country, on various circuits, covering various tourist destinations. Attractively priced at Rs 900/- per day, per passenger, for Non-AC Sleeper

Class and Rs 1100/- per day, per passenger, for 3AC class, the tour package is inclusive of rail and road travel, all meals, sightseeing and accommodation. Above all, tourists are also insured with accidental insurance of up to Rs 10 Lakhs.

During FY 2019- 20, IRCTC have operated 92 trips of Bharat Darshan as against 99 trips of Bharat Darshan Tourist Trains in FY 2018-19.

(ii) State Special trains

IRCTC runs these special train tours in collaboration with various state governments. The government selects the beneficiaries of the tour package, mostly senior citizens. These train tours cover various tourism and pilgrimage sites across India. During FY 2019-20, IRCTC tied up with State Governments of Delhi, Madhya Pradesh, Odisha, Rajasthan & Jharkhand and operated the State Special trains. During the year, a total of 64,733 tourists availed these tours in 68 trips. An income of Rs 94.94 Crores was generated from the operation of State Special trains.

(iii) IRCTC Trains:

As per the directives to privatise Indian Railways, management & operation of passenger trains was supposed to be allocated to private players. IRCTC was mandated to operate three passenger trains. The trains IRCTC presently operates are

a) LKO-NDLS Tejas

b) ADI-MMCT Tejas

c) Varanasi-Indore AC passenger train.

IRCTC has inaugurated its 1st passenger train on 4th Oct, 2019 on the Lucknow to New Delhi sector. The train was inaugurated by Honble Chief Minister of Uttarpradesh, Sh Yogi Adithyanath. The second train was inaugurated on the Ahmedabad- Mumbai- Ahmedabad route on 17th Jan, 2020 by the Honble Chief Minister of GUJRAT, Sh. Vijay Rupani and the 3rd passenger train and the first overnight passenger train was inaugurated on 16th Feb, 2020 on the Varanasi- Indore- Varanasi line.

Railways have provided these trains to IRCTC on lease after paying applicable lease charges and in return, IRCTC also has to make payments to Railways as Fixed and Variable charges for operating these trains.

Along with a host of features and facilities being offered by IRCTC to the passengers of Tejas Express, in the form of exclusive food and beverage services, on-board security, housekeeping and infotainment services, IRCTC is offering a comprehensive service along with a travel insurance, without any additional cost to the passengers.

This complimentary travel insurance with coverage of Rs 25 Lakhs is being offered to each and every passenger travelling on IRCTC trains. General travel insurance coverage with exclusive coverage of Rs 1 Lakhs against household theft / robbery during the travel period of the passengers is being offered by IRCTC.

In case of an accidental death and permanent disablement, an insurance claim of Rs 25 Lakhs will be handed out.

Through partial disbursement, an amount of upto Rs 15 Lakhs and upto Rs 5 Lakhs for emergency hospitalization will be handed over to the passengers of IRCTC trains.

Besides, IRCTC also pays a compensation of Rs 100/- in case of delays of more than one hour and Rs 250/- in case of delays of more than two hours to every passenger.

The Lucknow- New Delhi Tejas commences its trip from Lucknow in the morning and returns from New Delhi in the afternoon. This train stops at Ghaziabad and Kanpur. Similarly, the Ahmedabad-Mumbai Tejas starts in the morning from Ahmedabad and returns from Mumbai by evening. The ADI Tejas have enroute stops at Nanded, Vadodara, Bharuch, Surat, Vapi and Borivali. Both these trains run 6 days a week.

The first overnight train of IRCTC from Varanasi to Indore, named Kashi Mahakal Express, runs in two routes. While this train runs in route BSB-SLN-LKO-CNB-JHS-BINA-BPL-UJN-INDB for 4 days (2 up and down trips), it runs for 2 days( 1 trip up and down) in BSB-ALD-CNB-JHS-BINA-BPL-UJN-INDB route. The train has enroute stops at Lucknow, Kanpur, Jhansi, Bhopal and Ujjain.

The salient features of IRCTC Trains are

i. Exclusive reservation counters at stations.

ii. Train tickets can be exclusively booked on IRCTC website and its mobile app "IRCTC Rail Connect". Tickets can also be booked through IRCTCs online travel partners like Paytm, Ixigo, PhonePe, Make My Trip, Google, Ibibo, Railyatri etc.

Advance reservation period of 60 days.

Children below 5 years of age are exempted from fare

Dynamic Train fare

High quality food and beverages.

Regional delicacies served on trains to suit the preference of passengers.

On board hospitality services managed through professional and competent staff from either gender.

Professional On-board Hospitality and Security Staff available at all times.

Availability of complimentary RO water on trains

Easily accessible complimentary on-board infotainment services during your entire journey

Complimentary On-board Travel and Tourism Magazine

Complimentary Travel Insurance of Rs 25 Lakhs for every passenger with a coverage of Rs 1 Lakh for household theft / robbery during the travel period.

Compensation to passengers for train delays.

(iv) Election Special Trains:

IRCTC has been entrusted with the job of moving the Military and Para-Military forces for the general and assembly elections from FY 2013-14 onwards. IRCTC has been nominated as a Single window for booking and movement of Election Special Trains. During FY 2019- 20, IRCTC operated 346 trains for moving Para-military forces for General Election and generated an income of Rs 6.23 Crores (only 5% facilitation charge of IRCTC).

(v) AC Tourist Train:

Utilizing the conventional rake of the Buddhist Special Tourist Train, IRCTC operated the AC Tourist Train tour packages for the first time in FY 2018-19. During the FY 2019- 20, IRCTC have operated 8 AC Tourist Train tours for 1501 passengers, as compared to 4 AC Tourist Train for 665 passengers in FY 2018-19.

(vI) Pilgrim Special Tourist Trains (PSTT):

IRCTC is planning to operate Pilgrim Special Trains and requested Railway Board to provide separate rakes for operation of Pilgrim Special Tourist Trains. PSTT will have 5 sleeper and 5 3AC coaches. Attractively priced at Rs 900/- per day, per passenger, for Non-AC Sleeper Class and Rs 1500/- per day, per pax, for 3AC class passengers, the tour package will be an all-inclusive package consisting of rail and road travel, all meals, sightseeing and accommodation.

(vii) Theme Based Tourist trains:

a) Ramayana Express:

IRCTC launched and operated four special tourist trains, "Ramayana Express". One train was operated from Tirunevelli in Tamil Nadu. The destinations covered are Allahabad, Ayodhya, Buxar, Chitrakoot Dham, Hampi, Janakpuri (Nepal), Nandigram, Nasik, Raghunathpur, Shringaverpur, Sitamarhi and Varanasi etc. The train operated all inclusive tour package from 05.03.2020 to 18.03.2020.

b) Temple Tours:

Another unique tour package of IRCTC covers the temples of Andhra Pradesh and Karnataka. The "Temple Tour of Andhra Pradesh" operated from 11.12.2019 to 17.12.2019 ex-Madurai. The package covers destinations like Ahobilam- Mahanandi- SriSailam- Bhadrachalam- Simhachalam- Annavaram. Other Temple Tours, "Temple Tour of South Canara" operated from 05.12.2019 to 09.12.219 ex- Madurai. The package covers Murudeshwara- Kollur- Mookambika- Sringeri- Horanadu- Dharmasthala. The package has provided services to 708 passengers.

Other Tourism Activities

(i) Event Management:

IRCTC has ventured into Event Management business and organised various Conferences, Events and Incentive packages for Indian Railways, PSUs, Education Department and other prominent institutions. IRCTC had the privilege of managing the event for Honble Prime Minister, Honble President, Honble Minister for Railways & other prominent personalities. During FY 2019- 20, IRCTC has conducted and managed various Events such as "Sanghosthi", majorly for Indian Railways, and generated an income of 81.82 Lakhs.

Realising the potential of event management as a business segment, IRCTC plans to position itself as a full-fledged event management company and offer its event management services for organising various events (Meetings, Incentive tours, Conferences and Expositions – MICE) for Ministry of Railways, its PSUs and other government organizations across the country.

(ii) Booking of Charter Trains and Coaches:

IRCTC has operated 568 (81 trains & 487 coaches) charters in the financial year 2019-20 for various tourist groups. Ministry of Railways nominated IRCTC as the single window agency for online booking of all trains and coaches on charter basis. The website for online booking of FTR Trains/ coaches is

(iii) Cruise Packages:

International Cruise packages: : IRCTC has ventured into a new business of Cruise packages across the world (International and Domestic). IRCTC has operated its first cruise package with Norwegian Getaway Cruise from 24th Jun 2019 to 06th July 2019 including Emirates Return Flight, Hotel stay (1+1 Nights), Insurance & Visa charges (Denmark) for a 12N/13D package, generating a revenue of 62.5 Lakhs.

Norwegian Getaway cruise started from Copenhagen (Denmark) on 25th Jun 2019 and continued till 04th July 2019 (9N/10D), covering Warnemunde (Germany), Gdynia (Poland), Helsinki (Finland), St. Petersburg (Russia), Stockholm (Sweden) and back to Copenhagen (Denmark).

Further, IRCTC has recently launched 10 International and 6 Domestic Cruise packages which are also available on IRCTCs tourism portal.

River Cruise packages: IRCTC has collaborated with river cruise liners for operation of river cruise on the mighty Ganges and the Brahamaputra in the domestic market. Gangasagar and Sunderland Domestic River cruise packages has also been launched and uploaded on IRCTC tourism portal.

With this, IRCTC has achieved the MOU target of launching of International Cruise packages as well as Domestic River cruise packages in India with excellent rating in the both targets.

IRCTC has ventured into a new business segment of Air Charter. On the pilot run basis, IRCTC has provided service to Ministry of Railways and operated four Air charters during the FY 2018- 19. Initially, the business will be restricted to Government clients and will be later extended to all, after stabilising operations in the market.

(iv) Hill and Heritage Charters

IRCTC actively promotes the 5 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". IRCTC has recently launched packages for Kalakund, which is situated in the recently introduced Heritage section of Patalpani- Kalakund under Ratlam Division of Indian Railways.

(v) Luxurious Railway Saloon Car

Ministry of Railways decided to open bookings for its fleet of luxurious saloon coaches and has entrusted IRCTC with the task of marketing and booking these special packages. A Saloon Car generally has a living room, two air-conditioned bedrooms – one twin bedroom and the other similar to an 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 2019- 20, IRCTC has successfully operated 33 saloon charters across India, in comparison to 20 Saloon Cars in the previous year. IRCTC has requested Railways to provide 6 exclusive fully AC Saloon Cars for operating charters and Saloon Car tours across its five Zonal Offices and 1 in New Delhi.

(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 537 Railway stations through IRCTC tourism portal. Passengers can also book Retiring Rooms on the go on Android and IOS mobile Apps. Hourly booking is also available at 43 stations. About 65 % of total retiring room bookings are being done online. 20% of the bookings are being done through mobile apps.

IRCTC has started upgrading and managing services of Retiring rooms at 16 Railway stations, including Sealdah, Rajinder Nagar, Tata Nagar, Udupi, Madgaon, Ahmedabad, Vadodara, Thivim, Lucknow, Jaipur, Gorkhpur, Tirucharpalli, Madurai, Kachiguda, Tirupati & Bilaspur. The upgraded retiring rooms have hotel like facilities such as fully AC, Wifi, TV, Geyser, linen, sofas etc.

Total bookings during FY 2019- 20 were 4.46 Lakhs and total revenue was Rs 22.66 Crores.

(vii) Advance Tourism:

IRCTC Tourism is offering a tour package of five nights and six days to Meghalaya. The tour will comprise flights connecting Bengaluru with Guwahati and a motorcycle-based journey to Mawsynram and Mawlyngbna in Meghalaya.

(viii) IRCTC Mobile Apps:

Mobile Apps and Mobile responsive websites are the need of the hour for customers. Therefore, to promote IRCTCs products, IRCTC has introduced user friendly travel and tourism mobile Apps. ‘IRCTC Air and ‘IRCTC Tourism mobile application were launched on 31st May 2016. The application for IRCTC App is already available for Android and IOS users. An integrated IRCTC app, "IRCTC Connect", featuring Rail & Air ticketing and IRCTC Tourism has been released on 10.01.2017. Till 31st March 2020, IRCTC Rail connect app was downloaded more than 1 Crore times and packages are being booked regularly on the app. A Mobile App has been developed on Android as well as iOS for Maharajas Express to simplify the guest feedback system and promote off-board excursions. App also has features for detailed itinerary, live train tracking etc.

(ix) Tourism Portal :

In an 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. IRCTC launched its tourism portal in March 2007, and has been offering complete online travel solutions to the customers since the last 9 years. The portal has won the "National Tourism Award" in the year 2008, "Website of the Year" for three consecutive years i.e. 2014, 2015 & 2016 from "Leisure & Travel" by Matrix Lab and has been awarded "Indian e-retail award" for four consecutive years, from 2015 to 2018, by Franchise India. The portal offers on-line booking of Tourist Trains, Air tickets, Hotels, Saloon Cars, AC Tourist Trains, Event Management, Tour packages on rail, air or land. To be at par with the user friendliness and facilities offered by other OTAs, IRCTC has revamped its tourism website. Golden Chariot Train has also launched its website in 2019-20. Total Bookings in 2019-20 was 518277, catering to 12.18 Lakhs passengers and generating gross revenues of 282.83 Crores.

(x) Online Feedback module:

IRCTC started taking online feedback of tourists/ passengers travelling or availing service on IRCTC tourist trains, packages, etc. through Tablets, during the course of the tour, to get actual feedback of passengers and to take necessary action for making their product better. IRCTC Tourism department has circulated 3 tablets to each zone for regular online feedbacks.

(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.

(xii) Online Hotel Booking:

IRCTC integrated accommodation partners (Hotel, Home stay, Bed &Breakfast, PGs, Dormitories, paying Guest Houses, YatriNivas, holiday Homes, start up etc.) on its platform for online bookings through https://www. or ‘irctctourism mobile apps – Android & IOS

At present following hotels can be booked:-

Le Roi Hotels Oyo Rooms FAb Hotels Oga Hotels Comopolitian Hotels Ginger Hotels

Customers can now book more than 3172 hotels across 135 cities, with a starting tariff of Rs 600/. Most of the

Hotels are located near Railway Stations, Airports and city centres. IRCTC offers No cancellation charges if cancelled before 24 hrs of check–in.

Tourism Planning

The extremely diversified tourism product lines provide IRCTC tremendous scope of growth in the field of tourism. In line with this, the company plans to further enhance and consolidate its tourism business in the coming years by expanding and streamlining existing business lines as well as introducing new product lines.

IRCTC tourism needs to be more dynamic and flexible to tackle the situation after the Coronavirus pandemic. The industry is expected to take a minimum of 10 months to recover after the pandemic is controlled.

However Specific thrust areas identified now for the coming year would be:-

(i) Cruise Packages: IRCTC will focus on launching packages with Cruise liners across the globe. IRCTC will block seats/ rooms in Cruises and sell them at Domestic & International level.

(ii) River Cruise Packages: IRCTC is also going to tie up with reputed Companies in India to offer Luxury

River Cruise Tours. These tours will be offered to Maharajas Express guests also.

(iii) AC Tourist Trains: IRCTC will utilise the conventional rake of Buddhist for operation of more AC Tourist Trains and launch and operate various tourist itineraries across India.

(iv) Pilgrim Special Tourist Trains: IRCTC is planning to launch and operate Pilgrim Special Train with three new rakes to be obtained from Railways. IRCTC will use the rakes across India, round the year. Mixed rakes will be used for this purpose, for instance, 5 coaches of Non-AC sleeper class and 5 coaches of 3AC.

(v) Adventure Tourism: IRCTC will continue to operate various Adventure tour packages to North East. More adventure tourism packages will be launched to other parts of India. The activities include biking, hiking, mountaineering, etc.

(vi) Passenger Trains: IRCTC is planning to take more passenger trains from the clusters identified by Indian Railways for privatisation of Indian Railways through joint ventures or independently. IRCTC is also planning to take charge of other trains available with Indian Railways, namely "Tejas Express", for booking, management and operational activities with IRCTC. However, the final decision will be based on the analysis of the financials and performance of this vertical.

(vii) FOREX, VISA & International Travel Insurance: IRCTC has tie-ups with service providers for FOREX, VISA & Overseas Insurance. These businesses mainly target IRCTCs outbound tour package clients and its Corporate clients.


IRCTC is one of the foremost travel and tourism companies in the country and over the last couple of years, IRCTC has developed a strong brand presence across the most popular social media platforms on the internet such as: Facebook, Twitter, Instagram and LinkedIn. This presence has given IRCTC an edge over others to connect with a massive audience base and deliver better solutions or products to the customers. IRCTC has also been proactive in responding to the grievances received through their social media channels.

During the year 2019-20, IRCTC received a total of 5,19,452 mentions across the internet, out of which 3,23,477 were from social media platforms and the remaining 1,95,975 were from other sources such as news websites, online forums etc. As a brand, IRCTC has managed to garner great response from its users on social media, with people sharing IRCTC posts 5,81,837 times in 2019-20 and receiving 1,33,899 positive mentions across social networks.

IRCTC saw an exponential growth in its follower base on its official social media handle that manages official posts, IRCTC Air and IRCTC Tourism. The Instagram platform saw the biggest jump of 10301% increase in followers, while LinkedIn followers increased 199% in the current year. Twitter follower base also increased by 73%, followed by Facebook follower growth of 19%.

The growth in social media follower base was also complemented by a rise in website traffic, resulting in a 58% increase in traffic on the IRCTC Tourism website.

The social media strategy of Maharajas Express – IRCTCs flagship premier luxury train was focused on International guests who were looking to travel to India and experience luxury while exploring the cultural heritage of this country. Maharajas website went through a complete overhaul during the year 2019-20 and as a result, it saw an increase of 34% in traffic. The social media platforms of Maharajas Express also saw an increase in followers with Instagram being the most popular platform during 2019-20. Instagram follower base increased 64.79%, followed by Facebook at 10.3% and Twitter by approx. 9% during 2019-20.

For promotion of the Buddhist Circuit Tourist Train, IRCTC initiated two pronged online marketing strategy with social media marketing and constant marketing efforts across other digital mediums which helped the premium tourist train to increase its website traffic by a huge 218% during the year 2019-20. The social media platforms such as Instagram and Facebook also saw a followers growth of 93% and 52%, respectively.

IRCTC Airs visibility in search engines improved in comparison to the previous year. Total traffic increased from 182248 in March 2019 to 202470 in March 2020, registering a growth of 11.10% organic traffic. IRCTC Air has constantly ranked on the first page of Google Search Engine Results due to our Search Engine Optimization and Search Engine Marketing efforts.


IRCTCs e-ticketing service has continued to grow from strength to strength, ever since it came into the market and now accounts for 72.75% of reserved tickets booked online on Indian Railways in 2019-20. On an average, 8.25 Lakhs tickets were sold daily through IRCTCs website and Mobile App during 2019-20. The site offers round the clock ticket booking services, except for a 35 minute break from 2345 hrs to 0020 hrs.

(i) Service Charge:

A nominal service charge was earlier levied by IRCTC

@ Rs 20/- per e-ticket for Non-AC classes and @ Rs 40/-per e-ticket for AC classes. But, it was withdrawn by Ministry of Railways w.e.f. 23-Nov-2016 to promote digital payment and the same continued till 31-Aug-2019.

Continued withdrawal of service charge has resulted in a loss in turnover, amounting to Rs 370 Crores in 2019-20. Total

Revenue loss from e-ticketing service charge from the date of its withdrawal in 23-Nov-2016 to 31-Aug-2019 has been Rs 2,088 Crores. For the FY 2019-20, reimbursement of Rs 32.26 Crores has been made by Ministry of Railways to IRCTC, in the 1st quarter, for maintenance and operations of Internet Ticketing System.

The withdrawal of service charge on the tickets, though has reduced the income from this segment, efforts have been made to encash full potential of website along with mobile application schemes through data monetization, retail management etc.

IRCTC has started collection of Convenience Fee on e-ticket bookings w.e.f. 01-Sep-2019 at the rate of Rs 15/- + GST per ticket for Non AC Classes and Rs 30/- + GST per ticket for AC Classes (including First Class/FC). For BHIM/UPI payments, the Convenience Fee is charged at a reduced rate of Rs 10/- + GST per ticket for Non- AC Classes and Rs 20/- + GST per ticket for AC Classes.

(ii) Earnings:

a. No. of E-Tickets and Passengers Booked:

A total of 3019.04 Lakhs tickets have been booked in 2019-20 as compared to 2841.72 Lakhs in 2018-19. Total 5229.62 Lakhs passengers booked E-Tickets in 2019-20 as compared to 4949.51 Lakhs passengers in 2018-19. The ratio of Passenger to Ticket during the year was 1.73:1.Number of tickets booked during the year has reduced due to the countrywide lockdown imposed due to the COVID-19 Pandemic.

b. E-ticketing Revenue Collection:

During the year 2019-20, a total of Rs 34054.74 Crores was collected as Ticket Fare from the users as E-ticketing revenue, which is 6.19% more than last years collection of Rs 32,069.70 Crores.

(iii) MOU Targets 2019-20 and Achievements thereof:

S. No. Target Status of achievement
1. Setting up and operationalization of OTP based system for ensuring refund to all customers who booked their rail e-tickets through agents, by 31-Oct-2019 Achieved on 25-Sep-2019
2. Creation of own booking engine for handling all kinds of event ticketing like exhibitions, games 31-Dec-2019 Achieved on 21-Nov-2019

(iv) New Initiatives Taken During 2019-20

CAPTCHA based login introduced to enhance security during peak hours on Mobile App (w.e.f. 16-Jun-19).

Three days Cyber Security Awareness Training Programme conducted for IRCTC Employees from 28-Jun-2019 to 30-Jun-2019

Highest booking in a day through IRCTC Rail Connect Mobile App - 4,69,949 tickets were booked on 01-Jul-2019

Railway Complaints registration is now available by dialling 139 and Rail Madad (w.e.f.15-Jul-2019)

Boarding point change of System Tickets made available to Rail Users through IRCTC Website (w.e.f. 25-Jul-2019)

NDRF (National Disaster Response Force of Central Paramilitary Forces) e-ticketing system has been launched for booking Reserved Rail e-tickets for NDRF personnel (w.e.f 23-Aug-2019).

The Convenience Fee on online tickets booked through IRCTC has been started w.e.f. 01- Sep- 2019.

A Convenience Fee of Rs 15/- + GST per ticket for Non-AC Classes and Rs 30/- + GST per ticket for AC Classes is being levied on online tickets booked through IRCTC, irrespective of the number of passengers booked on a ticket;

For the Users, who will be making online payment for e-tickets through BHIM/UPI mode of payment, the Convenience Fee would be charged at a reduced rate of Rs 10/- + GST per ticket for Non- AC Classes and Rs 20/- + GST per ticket for AC Classes, irrespective of the number of passengers booked on a ticket.

OTP (One Time Password) based refund process through SMS, for tickets cancelled by Retail Service Providers (agents) and also for the tickets which remain fully waitlisted, when such tickets have been booked by the passengers through agents, has been launched w.e.f. 25-Sept-2019. OTP SMS based refund process brings transparency in the system and benefits the customer. It is an user friendly facility wherein passenger will know about the exact refund amount received by agent on his behalf, against a cancelled ticket or fully waitlisted dropped ticket. (MOU Target - 31-Oct-2019) Group Bookings made live on IRCTC Tejas Trains w.e.f. 01-Oct-2019. IRCTC Tejas Train on LJN-NDLS-LJN route was launched on 04-Oct -2019 and all its ticketing operations have been handled by the IT Centre.

IRCTC Rail Connect Mobile App on iOS Platform was launched on 10-Oct-2019

New User Interface of IRCTC Rail Connect Mobile App on Android Platform was launched on. 14-Oct-2019

Introduction of Gallery/Videos section in IRCTC Rail Connect Mobile App on iOS Platform- launched on 06-Nov-2019.

Last transaction details feature added in transaction history menu of IRCTC Rail Connect Mobile App:


On Android Platform - 08-Nov-2019. On iOS Platform - 03- Jan-2020

Event Management Portal launched and utilized for events on 21 & 22-Nov-2019. This portal will cater to online registrations for events like workshops, seminars etc. and facilitate online bookings for exhibitions, games events etc., (MOU Target – 31-Dec-2019)

New Premium Card has been introduced in IRCTC Loyalty Program w.e.f. 21-Nov-2019.

Fundamental Duties were displayed on ERS, Home Page, Alerts & Updates section of IRCTC website, from 25-Nov-2019.

Fundamental Duties have been displayed on IRCTC Rail Connect Mobile App:

On Android Platform - 25-Nov-2019. On iOS Platform - 27-Nov-2019

IRCTC Convenience Fee at reduced rates of Rs 10/- (Non-AC Classes) and Rs 20/- (AC Classes) on the tickets booked through BHIM/UPI payment mode has been started w.e.f. 01-Jan-2020.

Another IRCTC Tejas Train on ADI-MMCT-ADI route was launched on 17-Jan -2019 and its ticketing operations have been handled by IT Centre.

New payment options like Payment Gateway and UPI payment options have been enabled for e-Wallet registration and deposit, which offers more payment options to users (w.e.f. 27-Jan-2020)

IRCTC launched its 3rd Train- Kashi Mahakal Express from INDB to BSB via Ujjain and its ticketing operations are being handled by IT Centre (w.e.f. 20-Feb-2020)

Mandatory and Free Travel Insurance up to Rs 10 Lakhs has been provided for the passengers of Mahakal Express w.e.f. 20-Feb-2020.

Highest Tickets booked in a minute: 26,458 tickets (05-Mar-2020 11:02 am)

Booking SMS is now being sent only to registered mobile numbers of users, w.e.f. 11-Mar-2020. Previously the booking SMS was sent to the passengers mobile number.

Re-Verification of email IDs/mobile numbers of IRCTC users have been started to keep genuine users on the system w.e.f. 12-Mar-2020.

Following Banks/ Payment Providers have been integrated on IRCTC Rail Connect Mobile App for booking Reserved Rail e-tickets by the customers:

i. ICICI Bank Payment Gateway for providing Debit/ Credit Card payment modes:

On Android Platform - w.e.f. 23-May-2010

ii. UPI (powered by PayTM): On Android Platform - w.e.f. 03-Jun-2019

iii. Airpay - for providing Multiple Payment modes (MPP)

On Android Platform - w.e.f. 24-Jul-2019

iv. HDFC Bank - for providing Multiple Payment modes (MPP)

On Android Platform - w.e.f. 09-Aug-2020.

v. American Express Bank Payment Gateway for providing Credit Card (Domestic) payment mode

On Android Platform - w.e.f. 26-Feb-2020. On iOS Platform - w.e.f. 20-Mar-2020

(v) Highlights of Internet Ticketing (2019-20)

Total number of tickets booked were 3019.04 Lakhs, 6.26% higher than last year.

Total Train Ticket Fare for online e-ticketing during the year was Rs 34054.74 Crores, 6.19% higher than last year.

4.46 Crores Mobile App (on Android & iOS) Downloads till 31st March, 2020.

Mobile Bookings: The average Mobile App bookings during 2019-20 were 3.86 Lakhs tickets per day, as compared to 2.79 Lakhs tickets in 2018-19. 47% of IRCTC e-Tickets have been booked through IRCTC Rail Connect Mobile App.

About 72.75% of Reserved Rail tickets were booked online in 2019-20, as compared to 70.01% in 2018-19.

(vi) Segment wise IRCTC e-ticketing share

S. No. Segment Total Booking Booking Amount (Rs in Crores) Share in %age
(Nos. in Lakhs)
1 IRCTC Mobile 1,415.24 17,269.72 47%
App Normal User
2 IRCTC Website 770.47 6,775.11 26%
Normal User
3 B2C Normal User 464.47 4,230.81 15%
4 Retailer Agents 276.02 4,038.09 9%
5 G2G 92.84 1,741.01 3%
Total 3,019.04 34,054.74 100%

(vii) Ticket Booking Segment Wise % age d. PACKAGED DRINKING WATER (RAILNEER)

As on 31.03.2020, IRCTC has fourteen operational plants located at Delhi, Patna, Palur, Ambernath, Amethi, Parassala, Bilaspur, Sanand, Hapur, Mandideep, Nagpur, Jagiroad, Jabalpur and Sankrail, of which the plants at Amethi, Parassala, Sanand, Hapur, Mandideep, Nagpur, Jagiroad, Jabalpur and Sankrail operate under PPP.

Performance of Rail Neer Plants during FY 2019-20 as compared with 2018-19 as given below:

Financial Year Production (bottles in Crores) Turnover Plant Utlisation
(Rs in Crores) (%)
2019-20 27.50 (approx) 237.99 79%
2018-19 21.50 189.04 83%

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 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.

During 2019-20, three new Rail Neer plants at Jagiroad near Guwahati (Assam), Maneri near Jabalpur (M.P) and Sankrail near Howrah (W.B) has been set up.

(i) Technology/Capacity up gradation:

To combat design duplication and consequent sale of spurious water, a hologram has been embedded on the Rail Neer bottle as a safety feature.

Use of Handheld Terminals (HHT) for monitoring Rail Neer distribution operations in plants.

Rail Neer Carrying and Forwarding Agencies (CFAs) have been empowered to issue invoice through Handheld Terminals (HHTs) to licensees, enabling live record and reconciliation of sale and supply of stock to trains and catering units in one plant as pilot project. 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 has been proposed to be populated on IRCTCs server to assess performance of Rail Neer operations and utilize it as a decision making tool.

(ii) Road Ahead :

Average daily requirement of Packaged Drinking Water on Indian Railways is approx 18 Lakhs bottles/day. IRCTCs production capacity is 14.08 Lakhs bottles/day, spread over fourteen working plants. With the commissioning of five more Plants, capacity will be enhanced to approx 17.68 Lakhs bottles per day, which will be operational by 2020-21, and it is considered adequate for meeting current demand on Indian Railways. The newly set up plants at Jagiroad, Jabalpur and Sankrail have started commercial operation.

Rail Neer Plants at Una (H.P.) and Bhusawal (MH) are in advanced stages of completion and Rail Neer Plant at Mallavalli near Vijayawada is in civil construction phase. All three plants are expected to be commissioned in FY 2020-21.

Further, setting up of two more plants at Bhubaneswar and Simhadri near Vishakhapattanam are under tendering process.

(iii) Water Vending Machines

Ministry of Railways has directed IRCTC to provide purified, chilled and potable drinking water to railway passengers at an affordable rate (@ Rs 5/- per 1 litre) through Water Vending Machines (WVMs), thereby reducing pollution on account of lesser consumption of plastic bottles. It will also help to generate employment in station premises.

Till 31st March 2020, your Company has cumulatively installed 1926 Water Vending Machines. Out of 1194 stations of category of A1, A, B and C, a total of 685 stations have been provided with WVMs, covering around 97% of A-1 category stations.

Awards Received during the year - Rail Neer was awarded with Asias most trusted brand award 2019, in the packaged drinking water category.


The Human Resource Development (HRD) function in IRCTC has been designed in a way to adopt latest methods to constantly update the knowledge, ability, skills and productivity of the employees. IRCTC firmly believes in the resource-based theory which emphasises that investment in people adds to the value of the company. HRD also ensures putting the right people to the right task to get the maximum output. The employees are provided appropriate guidance for transformation of their knowledge into skills. The employees are encouraged to engage as partners in the organization which creates a healthy and harmonious environment for achieving the aims/objectives and targets of the corporation.

As on 31st March, 2020, the Company had total manpower strength of 2494 with the following details:

Category No. of Employees
Regular Employees 1384
Deputationists 62
On Contract 393*
Out Sourced 655#

*Engaged on contract basis for mobile catering supervision for a period of two years.

# Engaged through manpower agency for supplying 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
Women employees 102 7.37
SC Personnel 261 18.86
ST Personnel 73 5.27
Other Backward Classes 341 24.64
Persons with Disabilities 05 0.36

(i) MoU targets 2019-20 and achievements thereof:

S. No. Target Status of
1 Designing a structured induction and on boarding policy for new recruits Achieved. Policy issued on 30th November, 2019.
S. No. Target Status of Achievement
2 Achievement of Human Resource parameters of continuous nature viz Holding of DPC without delay for Executives(E0 & above), Review & its implementation of Employees performance on the lines of FR(56)J, Regular updation of Online Human Resource Management System (HRMS), For career progression 10 % executives were imparted one week training in IIMs. Achieved in the fields mentioned.
3 Capability development programmes for employees to build their technical & managerial competencies for higher positions with special focus on Web based learning. conducted 6 capability development programmes with special focus on web based learning.

(ii) Employee Welfare:

Human Resources being a very vital organ in the organization, there is a need for Welfare activities which helps in keeping the morale and motivation of the employees high so as to retain the employees for longer duration. HR Deptt. took following welfare measures during 2019-20 :-

Compassionate Ground Appointment Policy: The biggest concern of a person is survival of his family after his demise. To safe guard the concern, IRCTC has introduced the policy for appointment on compassionate grounds of a dependant family member of a regular employee who lose his/her life while in service.

Comprehensive Group Insurance Scheme: Earlier Coverage of accidental death as well as natural death under the Comprehensive Group Insurance Scheme was amount to 60 months basic pay plus Dearness allowance which has now been enhanced to 70 months basic pay plus Dearness allowance for all employees including deputationists working in IRCTC.

Engagement of Apprentices: As per the Ministry of Skill Development and Entrepreneurship guidelines, IRCTC is fulfilling its obligation of engaging Apprentices for training in the band of 2.5% to 10% of the sanctioned strength. Initially, 38 candidates were selected as Apprentices in the trades of COPA and Food Production; out of which 33 candidates are still undergoing training of Apprenticeship in this organisation. For this period of training, stipend is paid to each Apprentice as per directives of the Ministry of Skill Development & Entrepreneurship.

Health Awareness Camp/Seminar: With view to help IRCTC staff for their health wellbeing IRCTC in collaboration with Dr. Reddys Foundation organised 10 health awareness seminars presented by eminent medical professionals on various health awareness topics like Oral Health, Asthma, Gastrointestinal disorder, Obesity, Hypertension, Gynaecological issues, etc.

Alternative Method of Medical Treatment: To promote the alternative method of medical help, IRCTC is providing free consultation services of Homeopathy Physicians to the employees of the Corporate Office and North Zone. Homeopathic treatment has helped large number of staff and their families in treating day-to-day illness i.e. common cough, cold and prevention from seasonal diseases.

(iii) Industrial Relations

During the year, the Industrial Relations in the Company have been cordial without loss of any man-days. The Corporation is having an effective grievance machinery for redressal of the complaints/grievances of its employees. An effective work culture has been established in the company through empowerment, transparency, decentralisation and practice of participative management.

(iv) Particulars of Employees

As per provisions of section 197(12) of the Companies Act, 2013 read with the Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every Company is required to give a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules in the Annual Report of the Company.

However, as per notification dated June 05, 2015 issued by the Ministry of Corporate Affairs, Government of India, government companies are exempted from complying with provisions of section 197 of the Companies Act, 2013.

Your Company is a government company, therefore, such particulars have not been included as part of the Directors Report.


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 Annexure respectively:

Category Annexures
Management Discussion and Analysis Report A
Report on Corporate Governance B
Annual Report on CSR and Sustainability Activities C
Business Responsibility Report D
Dividend Distribution Policy E
Extract of Annual Return F
Secretarial Auditor Report G
I-Addendum to Directors Report (Management replies to remarks contained in the Independent Auditors Report) H
II-Addendum to Directors Report (Management replies to remarks contained in the Secretarial Auditors Report) I
Form AOC - 2 J

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"].

"Report on Corporate Governance" highlights the philosophy of Corporate Governance and Key Values of the Company, composition of Board of Directors and its Committees, their details including profile of directors who joined the Board during 2019-20 and thereafter, attendance and remuneration of directors etc., other relevant disclosures and general information for shareholders [Annexure – "B"]. It is supplemented by 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 2019-20 (placed at Appendix – "B1");

ii. Certificate from Chairman & Managing Director (CEO) 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 as Appendix-"B4")

"Annual Report on CSR and Sustainability Activities" provides a brief outline of the companys CSR and Sustainability policy, the composition of CSR Committee, 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 Report"

As per Regulation 34 (2) (f) of SEBI (LODR) Regulations, 2015, the top one thousand listed entities based on market capitalization (calculated as on March 31 of every financial year) shall include in its Annual Report a business responsibility report 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. Considering the fact that the Company, as of 31st March 2020, is amongst the top 1000 listed entities as per the criteria, business responsibility report is prepared and annexed to this report as Annexure -"D".

"Dividend Distribution Policy"

As per Regulation 43A of SEBI (LODR), 2015, the top five hundred listed entities based on market capitalization (calculated as on March 31 of every financial year) shall formulate a dividend distribution policy which shall be disclosed in their annual reports and on their websites. Considering the fact that the Company, as on 31st March 2020, is amongst the top 500 listed entities as per the criteria, the Board of Directors of the Company has formulated and adopted the Dividend Distribution Policy.

The Dividend Distribution Policy is annexed to this report as Annexure – "E" and is also available on the Companys website i.e.

"Extract of Annual Return"

The extract of Annual Return pursuant to section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies (Management and Administration) Rules, 2014, in the prescribed form MGT-9 is appended to the Directors Report.

[Annexure -"F"].

"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 Amit Agrawal & Associates, Company Secretaries, an independent practicing firm of Company Secretaries to conduct Secretarial Audit for the financial year 2019-20. The Secretarial Audit Report for the financial year ended March 31, 2020 is annexed as to this Report [Annexure –"G"]

"I- Addendum to Directors Report"

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 2019-20 are placed as


"II- Addendum to Directors Report"

The replies of the management to the observations made by the Secretarial Auditor in his report on the compliance of conditions of Corporate Governance for the year 2019-20 are placed as Annexure-"I".

"Form AOC - 2"

The form AOC - 2 prescribed under clause (h) of subsection (3) of section 134 of Companies Act and Rule (8) of Companies (Accounts) Rule is enclosed as Annexure -"J"


During the year, the Company took initiatives for updation of Oracle ERP 11i with Release 12. Modules like Financial, Purchasing, Inventory, Procurement Contract, Database, ARCS (Account Reconciliation Cloud Services) with enhanced functionalities are proposed to be 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. Field officers were provided tablets for capturing data through mobile apps for Inspections in trains and taking feedback of the passengers. A dashboard is also provided for higher management to review and take necessary action / corrective measures for improving services.

Around 38 kitchens were equipped with CCTV cameras for regular monitoring of the operations and also linked with Honorable MRs dashboard "Rail drishti". A Control room has been setup to monitor all these locations through large format displays (LFD). The Corporate portal of the Company, was revamped. The Company successfully managed & maintained IT-Infra services in luxury tourist trains "Maharajas Express, Buddhist Mahaparinirman Express"

Addition to above, Golden Chariot Express has also been equipped with all IT amenities for upcoming season.


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 Board 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 2 vigilance inspectors in the corporate office. There are 5 other vigilance officers in various zones, handling vigilance related matter in the field. CVO being the extended arm of CVC is deeply engaged in furthering a 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, thereby increasing transparency and reducing scope for discretion.

During the period 2019-20, the vigilance department investigated in detail 18 complaints and 44 complaints were forwarded to concerned department for necessary action. Total 131 preventive/surprise checks were conducted in catering and e ticketing sector. Nearly 201 e-mail complaints from various sources were also processed. The malpractices and incidents of corruption so detected were communicated to the concerned department for strict action against the licensees and erring employees. The resulting fine recovered was to the tune of Rs 1359368/-. Further, on recommendation of vigilance department, 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.

The Vigilance Awareness week was organized from 28th October, 2019 to 02nd November, 2019. The theme of this year is "Integrity- A Way of Life" with emphasis on preventive Vigilance by increasing transparency, accountability, following rule of law, being inclusive, effective and efficient in all areas of functioning of the Government and its organizations.

Further, a hand book on "Illustrative check point for various stages of Public Procurement and Tendering Process" published by the Vigilance department, was released by CMD in the Corporate Office New Delhi. Banners and posters with appealing messages were displayed prominently in work places, Catering Units, Trains etc. Various competitions like Essay writing, Poster making, Debate, Quiz were held at Corporate, Zonal and regional offices of IRCTC. Sensitize program/ Workshop/ Seminars were organized for the staff to make them aware of the various rules/regulations which are required to be followed during day to day working. In order to create more awareness and participation of the public at large, the Commission had envisaged a concept of "Integrity Pledge". During the week, Internet Ticketing Centre of IRCTC sent about 3,28,89,215 e-mails to the IRCTC e-ticket users informing them about observance of Vigilance Awareness Week, Dos and Donts of the e-ticketing procedure, booking of meal orders through e-catering to prevent cases of cheating/corruption and taking of e-pledge on CVC website.

Integrity Pact

IRCTC has implemented the integrity pact program in line with the recommendations of 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 Integrity Pact by IRCTC has helped in establishing healthy business practices. To ensure transparency and healthy competitiveness in public procurements/ contracts, IRCTC has adopted Integrity Pact. One Independent External monitor has been appointed in IRCTC with the approval of CVC. A coordinator has also been appointed for Integrity Pact which is now being used in all the tenders which are beyond the identified threshold values.


Disclosure regarding establishment of vigil mechanism is included under the Corporate Governance Report at Annexure-"B".


IRCTC firmly believes that Corporate Social Responsibility (CSR) plays a major role in the development of any country and therefore, it has made CSR an integral part of its ethos and culture. Your Company goes beyond the statutory compliances and makes efforts to contribute to the economic development while improving the quality of life of the local community around the companys work centers, and the society at large. To achieve this goal, your Company has incurred an expenditure of Rs 7.67 Crores (2% of the average net profits of the preceding three years) on CSR projects/activities in FY 2019-20.

Annual Report on CSR activities as required under Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 read with section 134(3) and 135(2) of the Companies Act, 2013 is placed at Annexure-"C".


10.1 Right to Information Act, 2005

The Right to Information Act, 2005 seeks to provide for setting out the practical regime of right to information for citizens to secure access to information under the control of public authorities in order to promote transparency and accountability in the working of every public authority. 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. In corporate office and zonal offices, PIOs and Appellate Authorities have been nominated as per the provisions of RTI Act, 2005. The list of CPIO/PIOs, Appellate Authorities is available on the IRCTC website i.e. IRCTC has been aligned to online RTI MIS portal w.e.f. 01.04.2017 and all the applications received online are disposed off through online RTI Portal which results in faster disposal of RTI cases.

During 2019-20, a total of 2304 cases under RTI Act, 2005 were received and all the applications were disposed off in a timely manner.

Particulars Opening Balance as on 01.04.2019 No. of Applications received as transfer from other PAs u/s 6 (3) Received during the year No. of cases transferred to other PAs u/s 6(3) Decision where requests / appeals rejected Decision where requests / appeals replied Pending as on 31.03.2020
RTI Requests 263 59 2304 462 6 1789 369*
RTI Appeals 20 0 129 6 0 127 16*

*The Pending cases were within stipulated time limit of one month as per RTI Act, 2005.

10.2 Presidential Directives

During the year, Ministry of Railways conveyed its decision of disinvestment of its shareholding in the Company through Initial Public Offering (IPO). Accordingly, Government of India has disinvested 12.60% (2,01,60,000 equity shares) of its shareholding in the Company by way of IPO and the Company was listed with BSE and NSE on 14th October, 2019.

10.3 Rajbhasha (Official Language)

The Company continued its thrust on the Official language implementation as per the Govt. of Indias Rajbhasha Policy. Several steps are taken to increase the use of

Rajbhasha in the Company and the Company has proved its commitment to ensure the implementation of the Rajbhasha Policy. Various activities were undertaken during the year, such as organizing workshops, training, meetings, various competitions etc. For outstanding and noteworthy contribution in Rajbhasha, number of incentives and reward schemes are in force.

A Hindi week was organized from 13th September 2019 to 20 September 2019 in the corporate office in which various competitions, such as Hindi Quiz, Hindi dictation, Hindi Essay, Hindi noting and drafting and Hindi Typing competition were organized, where a large number of participants took part. Winners were awarded Cash prizes along with a Certificate.

10.4 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 for 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 Corporate Office as well as Zonal offices of the company.

During the year, the Company received one complaint of sexual harassment, which has been disposed off.

10.5Procurement from Micro and Small Enterprises (MSEs)

During the financial year 2019-20, your Company has procured 25.16% of the procurement from MSEs out of the total procurement done by the Company.

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 to the above instruction, your Company has boarded on the TReDS platform on 20th March, 2019 to facilitate financing of trade receivables of MSEs by discounting of their receivables and realization of their payment before due date.


11.1 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.

11.2 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.

11.3 Contracts And Arrangements With Related Parties

The Company did not enter into any contract / arrangement / transaction with related parties under section 188 of the Companies Act, 2013 read with Companies (Meetings of Board and its Powers) Rules, 2014 during the year under review. The attention is also invited to Note 44 to the financial statements and Form AOC-2 prescribed under clause (h) of sub-section (3) of Section 134 of the Companies Act 2013 and Rule 8 of Companies (Accounts) Rules 2014 is enclosed as Annexure - "J".

11.4 Internal Financial Control System

The Company has in place an internal control system which is commensurate with size, scale and complexity of its operations. Internal audit constitutes an important element in overall internal control systems of the company. The scope of work of the internal audit is well defined and is very exhaustive to cover all crucial functions and businesses of the company. The internal audit of the company is carried out by the independent professional firms appointed for this purpose.

In addition to Internal Audit, M/s UCC & Associates LLP, Chartered Accountants were engaged for certification of internal financial control (IFC) for FY2019-20, 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".

11.5 Risk Management

The Company has formed 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.

The Company also has a below Board level Committee constituted of GGM level officers, including GGM (Security), IRCTC 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 meeting of below Board risk management various risks have been identified and deliberated at the Board level committee. The major risks identified are as mentioned below:

1. Pandemic Risk

2. Dependence Risk

3. Competition Risk

4. Human Resource Risk

5. Cyber Security Risk etc.

The details of the identified risks with their mitigation strategies is mentioned in the Management Discussion & Analysis Report enclosed as Annexure - "A".

11.6 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.

11.7 Secretarial Standards

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India to the extent applicable.


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 minimize 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 ensuing 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 reusing of RO waste water in cleaning, washing and bathrooms at BK-NDLS. IRCTC also replaced 3x36 watts/2x40 watts light with energy efficient 28 watt LED light fixtures.

The details on the above are mentioned in the Business Responsibility Report enclosed as Annexure – "D".

(a) 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 fully absorbed; NA
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; NA

(b) Expenditure incurred on Research and Development.

Your Company does not undertake exclusive research projects as it does not have presence in such 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.

(c) 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, as compared to previous year is mentioned below:

(Rs in Crores)
Particulars 2019-20 2018-19
Foreign Exchange Earning 43.32 33.54
Foreign Exchange Outgo:
Foreign Travelling Expenses 0.47 0.67


As per the Companies Act, 2013 the provisions in respect of retirement of Directors by rotation will not be applicable to Independent Directors. In view of this, no Independent Director is being considered to be retired by rotation but all other directors will be retiring by rotation. Accordingly, one third among all other directors namely Smt. Rajni Hasija, Director (Tourism & Marketing) is liable to retire by rotation and being eligible, offers herself for reappointment.


IRCTC is a Government Company under the administrative control of Ministry of Railways. The functional directors including Chairman and Managing Director (CMD) are selected on the recommendations of Public Enterprises Selection Board (PESB) in accordance with the procedure and guidelines laid down by Government of India.

The Company enters into Memorandum of Understanding (MoU) with the administrative ministry, i.e., Ministry of Railways, Government of India every year, containing key performance parameters for the company. The performance of the Company is evaluated by Department of Public Enterprise vis--vis MoU entered into with the Ministry of Railways, Government of India.

The evaluation of performance of Functional Directors includes self-evaluation by the respective functional directors and subsequent assessment by CMD (on the basis of achievement of MoU targets and MoU rating received), with final evaluation by the Ministry of Railways (the administrative ministry).

The performance evaluation of CMD includes self evaluation and final evaluation by the Ministry of Railways (based on the MoU rating received).

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.

Ministry of Corporate Affairs (MCA) vide its circular dated June 5, 2015 had exempted Government Companies from the provisions of section 178(2) of the Companies Act, 2013, which requires performance evaluation of every director by the Nomination & Remuneration Committee. The circular further exempted Govt. Companies from the provisions of Section 134 (3) (p) of Companies Act 2013, which provide about manner of formal evaluation of its own performance by the Board and that of its Committees and Individual Director in Boards Report, if directors are evaluated by the Ministry which is administratively in-charge of the Company as per its own evaluation methodology.

Further, Ministry of Corporate Affairs vide its notification dated 5th July, 2017 has exempted the provisions relating to review of performance of Chairperson and non-independent directors and the Board as a whole and evaluation mechanism, prescribed in Schedule IV of the Companies Act, 2013, for Government Companies.


CPSE conclave emphasized on establishing a common knowledge management portal for all CPSEs with the objective to create a platform for enabling individuals, teams and entire public sector enterprises to collectively and systematically share knowledge, Infrastructure, Best practices, SOP etc. to learn from others experiences and to attain greater heights.

Accordingly, SAMANVAYA platform was launched under the aegis of Department of Public Enterprises. IRCTC is an active member on the platform and updates the details related to the Company regularly.

On similar lines, DRISHTI Dashboard was created as a part of ‘Vision New India 2022 to redefine the role and responsibilities of CPSEs through real-time monitoring of their action plans, derived from the challenges posed out of CPSE Conclave. The company has fed the information on the portal and regular updation is also being done.


The performance of the Company has been rated as "Good" based on the outcomes achieved with reference to the key performance indicators (KPIs) enshrined in the Memorandum of Understanding (MoU) for the financial year 2018-19.

On the basis of self evaluation, Company is expected to receive "Excellent" rating for 2019-20. The MoU reflecting performance parameters for 2020-21 is under process.


IRCTC endeavours for an all-round growth and the same is reflected in the list of its awards & achievements:

1. IRCTCs tourism vertical has been conferred India e-Retail Awards 2019, in the category "Leisure and Travel e Retailer of the Year" at a ceremony held at Lalit Hotel, New Delhi on 13.10.2019.

2. IRCTC Rail Connect app awarded for best content in an e-commerce app in a specialized category during the India Content Leadership Awards – ICL 2019 on 04.10.2019

3. Digital Innovation Award was presented to IRCTC by Express computers on 26.09.2019

4. IRCTC presented with Express IT award 2019 organised by Financial Express (Indian Express) on 13.12.2019.

5. Rail Neer conferred with Asias Most Trusted Brand Awards 2019 in a function organised in Bangkok, Thailand on 11.12.2019 by IBC infomedia Pvt Ltd, a division of International Brand Consulting Corporation USA.

6. IRCTC conferred with International Business Leadership Awards 2019 in a function organised in Bangkok, Thailand on 11.12.2019 by IBC infomedia Pvt Ltd, a division of International Brand Consulting Corporation USA.

7. Customer Centric Excellence Award presented to IRCTC from ET Now during the Business leader of the year award function held on 16.02.2020 at Taj Lands End, Mumbai.

8. Company of the year award presented to IRCTC from ET Now during the Business leader of the year award function held on 16.02.2020 at Taj Lands End, Mumbai.

9. IRCTC won the Governance Now PSU Award under the Financial Category: Strategic Investments in the 7th edition of PSU Awards held on 19th February 2020, at The Lalit, New Delhi.

10. IRCTC AI Chatbot AskDISHA has been honoured with Asia Leadership award for "Innovation Using Technology" in Mumbai on 27.11.2019.


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 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. Honble Supreme Court permitted IRCTC to operate the said luxury train. Cox & Kings Limited initiated Arbitration proceedings seeking restoration of Joint Venture Agreement. The arbitration is in advance stage before Arbitral Tribunal.

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 subjudice. NCLT has declared the company to be managerial dispute. Details of the Joint Venture are covered in the notes to accounts of the financial statements for the periods ending 31st March, 2020 vide note no. 37.3 and 45. RIRTL has also taken permission from the NCLT for not holding the Board and General meetings without its approval in July, 2013.


As mentioned in the Para 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 2020.


20.1Statutory Auditors

Under section 139(5) of the Companies Act 2013, Comptroller & Auditor General of India has appointed M/s Serva Associates, as Statutory Auditors of the Company to audit the financial statements for the financial year 2019-20. The Statutory auditor has been paid an audit fee of Rs 12.01 Lakhs excluding out of pocket expenses plus applicable taxes, for the year 2019-20.

20.2 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 Amit Agrawal & Associates, an independent firm of practicing Company Secretaries to conduct Secretarial Audit for the financial year2019-20

The Secretarial Audit Report for the financial year ended March 31, 2020 is enclosed as Annexure - "G" to this report.

20.3 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 K.S. Choudhary & Co., Chartered Accountants, an independent accounting firm to undertake the assignment of internal audit for FY2019-20. The details regarding scope and functions of the firm is placed in the Management Discussion and Analysis Report.

20.4 Cost Auditors

The business segments of IRCTC are not covered under new 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 voluntary basis only through M/s R.J. Goel & Co. as the Cost Auditor for the year 2019-20.


The Comptroller & Auditor General of India has undertaken supplementary audit on the financial statements of the Company for the year ended 31st March, 2020 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, 2020 shall also form part of this report.


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.


Chairman & Managing Director (CEO), Director (Finance) / (CFO), Director (Catering Services), Director (Tourism & Marketing) 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) In terms of Ministry of Railways letter no. 2011/E(O)II/40/38 dated 16.08.2019, Mr. Narendra (DIN: 08422372) Executive Director/F(PPP), Railway Board, assumed the additional charge of Director (Finance) on the Board of the Company w.e.f. August 19, 2019.

(ii) In terms of Ministry of Railways letter no. 2011/E(O) II/40/38 dated 12.02.2020, Mr. Sanjeeb Kumar (DIN: 03383641) Executive Director/F(PPP), Railway Board assumed the additional charge of Director (Finance) on the Board of the Company w.e.f. February 13, 2020.

(iii) In terms of Ministry of Railways Order no. 2004/ PL/49/1 dated 18.03.2020, Mr. Vinay Srivastava (DIN: 08638850), ED (PSU), Railway Board has been appointed as part-time Government Director on the Board of the Company w.e.f. March 20, 2020.

(iv) In terms of Ministry of Railways letter no. 2017/E(O) II/40/29 dated 19.05.2020, Mr. Ajit Kumar (DIN: 07247362) has been appointed as Director (Finance) on the Board of the Company w.e.f. May 29, 2020.


(i) Ms. Smita Rawat (DIN 07670758), ceased to be a member on the Board of the Company w.e.f. October 11, 2020 due to relinquishment of the charge of the post of Executive Director (NFR&T), Railway Board on 10.10.2019 as communicated by her vide letter dated 18.10.2019.

(ii) Mr. Narendra (DIN: 08422372), ceased to be a member on the Board of the Company w.e.f. January 16, 2020 due to relinquishment of the charge of EDF/PPP, Railway Board on 16th January 2020, in terms of Railway Board Order No. ERS-1/2017/2/105 dated 14th January 2020.

(iii) Dr. Dheeraj Sharma (DIN: 07683375), ceased to be a member on the Board of the Company w.e.f. January 31, 2020, pursuant to Ministry of Railways Office Order No. 2008/PU49/1 dated 31st January 2017.

(iv) Dr. Rabi Narayan Bohidar (DIN: 00637818) ceased to be a member on the Board of the Company w.e.f. January 31, 2020, pursuant to Ministry of Railways Office Order No. 2008/PU49/1 dated 31st January 2017.

(v) Ms. Kanak Aggarwal (DIN: 00074469) ceased to be a member on the Board of the Company w.e.f. January 31, 2020, pursuant to Ministry of Railways Office Order No. 2008/PU49/1 dated 31st January 2017.

(vi) Mr. Sanjeeb Kumar (DIN: 03383641), ceased to be a member on the Board of the Company w.e.f. May 05, 2020 due to relinquishment of the charge of EDF/PPP, Railway Board on 05th May, 2020 and his appointment as Director (Finance)/RVNL on immediate absorption basis, in terms of Railway Board Letter No. 2016/E(O)II/40/15 dated 30th April, 2020.

The following Directors are holding office as on the date of the report:-

S. No. Particulars Date of Appointment
1. Mr. Mahendra Pratap Mall (DIN:02316235) From 18th September, 2017 onwards
Chairman & Managing Director
2. Ms. Rajni Hasija (DIN: 08083674) From 18th May, 2018 onwards
Director (Tourism & Marketing)
3. Mr. Ajit Kumar (DIN: 07247362) From 29th May, 2020 onwards
Director (Finance)
4. Mr. Neeraj Sharma (DIN 08177824) From 12th July, 2018 onwards
Part-time Government Director
5. Mr. Vinay Srivastava (DIN: 08638850) From 20th March, 2020 onwards
Part-time Government Director
6. Prof. Sachin Chaturvedi (DIN: 07960871) From 10th October, 2017 onwards
Part-time (non-official) Director
7. Mr. Comal Ramachandran Sundaramurti (DIN: 07965899) From 13th October, 2017 onwards
Part-time (non-official) Director
8. Ms. Sarita Deshpande (DIN: 08098222) From 29th March, 2018 onwards
Part-time (non-official) Director


The Board of Directors of your Company wishes to record their deep sense of appreciation for the sincere efforts put in by the employees of the Company. Your Directors also gratefully acknowledge the co-operation, support and guidance extended to the Company by the Government of India, Ministry of Railways, Ministry of Tourism and Department of Public Enterprises.

Your Directors also acknowledge with thanks the assistance and guidance rendered by Statutory Auditors, the Comptroller and Auditor General of India, Secretarial Auditor and Cost Auditor and wishes to place on record their sincere thanks to its valued customers and licensees for their continued patronage.

For and on behalf of the Board of Directors

(M.P. Mall)
Date: 18th August 2020 Chairman & Managing Director
Place: New Delhi DIN:02316235