THOMASCOOKNSE1 November 2023

Thomas Cook (India) Limited has informed the Exchange about Investor Presentation

Thomas Cook (India) Limited

November 1, 2023

The Manager, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 500413

The Manager,

Listing Department National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: THOMASCOOK

Fax No.: 2272 2037/39/41/61

Fax No.: 2659 8237/38

Dear Sir/ Madam,

Sub: Analysts and Investors Earning Conference Call Presentation

In furtherance of our intimation dated October 27, 2023 giving intimation on the “Q2 & H1 FY24 earnings conference call for the analysts and investors, scheduled on Thursday, 2nd November, 2023 at 03:00 p.m. IST”, please find enclosed the investor presentation, to be presented before Analysts and Investors.

This is for your information and records.

Thank you.

Yours faithfully, For Thomas Cook (India) Limited

Amit J. Parekh Company Secretary and Compliance Officer

Encl.: a/a

TCIL reports record growth in Consolidated Operating Profits for Q2 FY24

Reflecting strong all round performance across business segments

Q2FY24

Total Income from Operations

EBITDA

Rs 18,713 mn +51.5% YoY

H1FY24

Total Income from Operations Rs 38,023 mn +70.9% YoY

Rs 1,308 mn +138.7% YoY

Operating EBITDA* Rs 2,876 mn +174.8% YoY

PBT

Rs 766 mn Vs Rs 49mn in Q2FY23

Operating PBT* Rs 1,774 mn Vs Rs 26mn in H1FY23

(Rs mn)

 Thomas Cook India, SOTC and TCI - Long term rating upgraded from CRISIL A+/ stable to

CRISIL AA-/ stable & short term rating upgraded from CRISIL A1 to CRISIL A1+

 The Group continues to maintain a strong financial position, with Cash & Bank

balances of Rs. 13.4 Bn as of Sept 30, 2023

Forex

21%

Significant growth in Income from Operations across all Business segments in Q2 FY24

Travel & Related Services

Leisure Hospitality & Resorts (Sterling Holidays)

Digital Imaging Solutions

639

776

8,993

59%

14,324

25%

30%

782

982

1,805

2,353

Q2FY23

Q2FY24

Q2FY23

Q2FY24

Q2 FY23

Q2 FY24

Q2 FY23

Q2 FY24

Thomas Cook (India) Limited (TCIL) Q2 & H1 FY24 Earnings Presentation November 01, 2023

Thomas Cook (India) Limited (TCIL) BSE: 500413 | NSE: THOMASCOOK

Group’s Strengthening Balance Sheet Position

Particulars (Rs mn)

EBITDA

EBITDA %

PBT

Consolidated (QTD)

Q2FY24

Q2FY23

Q2FY22

1,308

548

(612)

7.0%

4.4%

(18.5%)

766

(1,100)

Cash & Bank Balance

(Rs mn)

13,426

10,097

6,399

Consolidated Cash Balance

13,426

9,135

1,300

March 2022

March 2023

Sep 2023

Particulars (Rsmn)

EBITDA

EBITDA %

PBT

Standalone (QTD)

Q2FY24

Q2FY23

Q2FY22

582

10%

428

352

193

(146)

(22%)

(249)

Standalone Cash Balance

8,751

6,213

917

Debt and Equity

16,550

16,747

17,885

4,548

3,423

2,796

March 2022

March 2023 Debt

Equity

Sep 2023

Thomas Cook India Group at a glance

Foreign Exchange & Related Services

Digital Imaging Solutions

Travel & Related Services

Leisure Hospitality & Resorts

 Retail & Wholesale

 Digiphoto

B2C:

 Forex Cards

 Remittance

Entertainment Imaging Ltd. (DEI)

Leisure Holidays (Long haul & Short haul)

B2B:

MICE, Corporate Travel, Destination Management Services – DMS (India + International)

 Sterling Holiday Resorts Limited

Thomas Cook India Group at a glance

Thomas Cook (India) Ltd is a leading integrated Travel and Financial services Company in India, part of the Fairfax group which owns 72.34% stake in Thomas Cook India

Integrated business model creates value through scale and flexibility

Spread across 28 countries across 5 continents

Premier brand portfolio with omni-channel strategy

Business is uniquely positioned to provide customer centric experiences & value driven service and offerings

Key Highlights

Managing Director’s comments

“The Thomas Cook (India) Group has registered another strong all-round performance for the quarter, with a 2.4x increase in EBITDA at Rs. 1,308 Mn Vs Rs. 548 Mn for Q2 FY23. Our consolidated PBT grew over 16 times to Rs. 766 Mn Vs Rs. 49 Mn in Q2 FY23.

The strong delivery across the Group, spanning Foreign Exchange, Travel (leisure, business & MICE) as well as Sterling Holidays and DEI is also testament to the teams, robust, efficient processes and industry leading service quality.

What is noteworthy, is that our overseas travel businesses have registered a complete turnaround with an PBT at Rs. 80 Mn Vs a loss of Rs. 176 Mn in Q2 FY23. With a 36% growth YoY in our Leisure segment primarily driven by Thomas Cook & SOTC, and forward bookings for our Travel Services up by 32%, for the festive season and beyond, our expectation is to close the year on a strong note.

Our sustained focus across the Group will remain on technology enhancements for improved speed & productivity with a special emphasis on elevating customer experience.”

Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited

Update on Business operations : Foreign Exchange

Income from Operations (Rs mn)

EBITDA (Rs mn)

EBIT (Rs mn)

Wholesale

• Banks and large financial

institution • Forex agents

21%

916

639

776

40%

436

42%

428

213

299

205

290

Retail

• Prepaid cards • FX for leisure • FX for Corporates • Airports

Remittance

• International Money

Transfer

• Remittance To India

Q2FY23

Q1FY24

Q2FY24

Q2 FY23

Q1 FY24

Q2 FY24

Q2FY23

Q1FY24

Q2FY24

• Retail growth: 16% YoY

• Overseas Education segment grew by 68% QoQ

Prepaid card growth

Card Loads

New prepaid card issuance

35%

Digital Progress

Digital Adoption Rate

23.4%

18.4%

Q2 FY23

Q2 FY24

Q2 FY23

Q2 FY24

Q2 FY23

Q2 FY24

• FX NOW app launched in Feb ’23 saw over 33,000 downloads as of end of Q2FY24

New Initiatives/ Launches

•

Forex via WhatsApp

•

Launched pioneering Study Buddy Card targeting the overseas education segment - in partnership with Mastercard and Visa

•

Launched pioneering RuPay Forex Card in partnership with National Payments Corporation of India (NPCI); commences with UAE as its pilot; with a global rollout planned via a phased model

Update on Business operations : Travel & Related Services

Income from Operations (Rs mn)

EBITDA (Rs mn)

Travel Segment Revenue mix – H1 FY24

59%

14,689

14,324

238%

654

650

8,893

193

Q2FY23

Q1FY24

Q2FY24

Q2FY23

Q1FY24

Q2FY24

EBIT (Rs mn)

1354%

504

500

Q2FY23

Q1FY24

Q2FY24

-4%

31%

23%

39%

MICE

Corporate Travel

DMS - India+International

Holidays- Long Haul

Holidays- Short Haul

Inter segment elimination

Update on Business operations : Travel & Related Services

Corporate Travel:

o Q2 FY24: Transactions grew by 23% YoY o Ticket size grew by 24% YoY o Acquisition of 8 new accounts across sectors like IT/ITS, Manufacturing, Automobiles, Banking & Finance, Consulting, Oil & Gas, Entertainment

o Over 48% adoption by clients on the corporate self-booking tool

MICE:

o Q2 FY24: Sales growth of 67% YoY o Managed over 420 groups - including sizeable movements of between 100 to over 2000 delegates, across Thailand, Dubai, Abu Dhabi, Georgia, Switzerland, Malaysia, Vietnam, South Africa, Azerbaijan, France, Portugal, Spain, Japan; also Kashmir, Goa, Bengaluru

o Thomas Cook won the mandate to exclusively manage accommodation, catering and transportation services for approx. 17,000 guests at the 37th National Games in Goa - 11,400 athletes, 5,000 support staff & technical officials, 2,000 dignitaries

o Empaneled as event partner for India’s G20 meetings; managed 9 events across 8

cities for the Quarter – totaling 41 events and 31 cities

Leisure Travel:

o Q2 FY24: Sales growth of 36% YoY o Launched Private Journeys - personalised, premium, chauffeured van tours to capitalise on

increased demand for luxury/premium and experience led travel

o Introduced ‘Book Easy. Go Easy’ - Instant Holidays by SOTC to target rising demand for short

getaways

o Launched festive special holidays targeting high demand for Durga Pujo and Diwali for East and

West regions

o Expanded portfolio of Cruise Holidays across Domestic and International destinations

Destination Management Service

India - Travel Corporation (India) Limited: • Reported significant improvement in sales with 192% YoY increase

• Sita Nepal recognized by Nepal Govt for being the highest tourism exchange

earner.

• Travel Corporation India Ltd is expanding its network with the opening of new

branch offices in Jodhpur, Bikaner and Jaisalmer, underlining the strategic

importance of these cities as flourishing tourist destinations

Private Safaris • East Africa - Reported an increase of 13% YoY in sales in Q2 FY24 supported by

volumes generated from traditional markets such as US, UK and Germany.

• South Africa – Q2 FY24 volumes surpassed both pre pandemic (48% growth) and

last year (40% growth) driven by key European markets.

Middle East - Desert Adventures: Q2 FY24 witnessed higher sales led by CIS countries and Indian sub-continent markets (increase of 8% YoY), despite Q2

traditionally being a weak quarter

USA - Allied TPro: Strong Q2 FY24 performance with 26% YoY increase in sales, driven by inbound passengers from European market

Asia Pacific - Asian Trails: Continues upward trajectory of recovery in volumes in Thailand, Indonesia, Malaysia, Singapore

Update on Business operations: Leisure Hospitality (Sterling Resorts)

Income from Operations (Rs mn)

EBITDA (Rs mn)

25%

1,153

982

782

124%

475

• Occupancy sustained at 63% for Q2 FY24 with additional room capacities

• Guest ratio of non-member guests Vs members using Sterling’s facilities grew

313

to 66%, generating higher revenues

140

• Room capacity increased by 8% with the addition of 8 resorts in the last 12

Q2FY23

Q1FY24

Q2FY24

Q2FY23

Q1FY24

Q2FY24

months

EBIT (Rs mn)

455%

381

243

Q2FY23

Q1FY24

Q2FY24

• F&B spends by guests at the resorts grew by 11% in H1 FY24

• New resorts launched in Q2 FY24: Vadodara and Vythiri

• Launched ‘Sterling Circle’ - a new FIT product with 1 year validity

• Cost focus and efficiencies continue to deliver higher margins

• Sterling continues to invest in its properties by upgrading facilities in its

existing resorts, to enhance guest experience

Resort Occupancy

Average Room Rate (ARR)

63%

v/s 63% in Q2 FY23

Rs 6,554

(15% increase y-o-y)

Guest ratio

66%

v/s 62% in Q2 FY23

Network

44 Resorts; 2,558 rooms

15 Owned resorts, 13 Leased resorts & 16 Management contract

Leisure Hospitality (Sterling Resorts) – New resorts

Vadodara

Vythiri

Leisure Hospitality & Resorts (Sterling Resorts) : Network

Hill Station

Beach

Waterfront

• Palm Bliss Rishikesh • De Laila Srinagar

• Goa - Varca • Karwar

North

East

West

South

• Mussoorie • Nainital • Kufri • Manali • Shivalik Chail • Legacy Shimla

• Darjeeling • Gangtok OV • Park Kalimpong

• Lonavala • Mount Abu • Panchgani

• Munnar • Vythiri • Yelagiri • Yercaud • Ooty - Elk Hill • Ooty - Fern Hill • Kodai - Lake • Kodai - Valley

Heritage / Pilgrimage

• Mantra Haridwar

• Puri

Jungle

• Corbett • Kanha • Sariska • Padam Pench

• Gir

Adventure & Themeparks

• Aatapi

Vadodara • Sajan (NT) • Durshet (NT) • Kundalika (NT) • Dabhosa (NT)

• Anaikatti • Palavelli Godavari • Lake Palace Alleppey

• Guruvayur • Arunai Anantha Tiruvannamalai

• V Grand Madurai

• Thekkady • Wayanad

SRINAGAR

MANALI

KUFRI

SHIMLA

CHAIL

HARIDWAR

CORBETT

MUSSOORIE RISHIKESH

NAINITAL

SARISKA

MOUNT ABU

KANHA

PENCH

DARJEELING

GANGTOK

KALIMPONG

GIR

VADODARA

NATURE

TRAILS

LONAVALA

PANCHGANI

PURI

GOA

GODAVARI

KARWAR

WAYANAD

VYTHIRI

YELAGIRI

YERCAUD

GURUVAYUR OOTY

ANAIKATT

MUNNAR

I ALLEPPEY

TIRUVANNAMALAI

MADURAI KODAIKANAL

THEKKADY

*Sterling Sariska remains deflagged post from 1st October 2023

Update on Business operations : Digiphoto Entertainment Imaging Ltd. (DEI)

Income from Operations (Rs mn)

EBITDA (Rs mn)

30%

47%

2,232

2,353

1,805

173

143

210

Q2FY23

Q1FY24

Q2FY24

Q2FY23

Q1FY24

Q2FY24

EBIT (Rs mn)

46%

110

131

Q2FY23

Q1FY24

Q2FY24

Key Highlights

•

For Q2 FY24, DEI signed 4 new partnerships across 3 countries viz.

Sky100 (Hong Kong), Mansa Devi Ropeway and Kailasha – The Snow

Park (India), and Snow City Riyadh (Saudi Arabia)

4 key partnerships renewed: Sheraton Full Moon Resort (Maldives),

IMG Worlds of Adventure, The Green Planet, and the Sheikh Zayed

Grand Mosque (UAE)

5 partnerships have commenced active operations: Taman Safari Bogor

and Wahoo Waterpark (Indonesia), KidZania Kuala Lumpur (Malaysia),

Kailasha – The Snow Park (India) and The Standard Huruvalhi

(Maldives)

We are across the world

3 Continents

19 Countries

130+ Partners

Canada

USA

BAHAMAS

CHINA MAINLAND

BANGLADESH

EGYPT

KUWAIT

DUBAI GLOBA L HQ

OMAN

SAUDI ARABIA

MALDIVES

CONGO

INDIA

SINGAPORE

HONG KONG

MACAO

THAILAND

MALAYSIA

INDONESIA

Page no

Q2 FY24 Performance

Results – Q2 & H1 FY24 Consolidated

Particulars (Rs. mn)

Income from Operations

Other Income

i. Mark to market gain on Investment ii. Others

Total Income from Operations

Expenses

- Cost of services - Employee benefits expense - Other expenses

i. Mark to market loss on Investment ii. Others

Total Expenses

EBITDA

Depreciation / Amortization

EBIT

Interest and Finance cost

Exceptional Items

PBT

Tax expense

PAT

Share of Profit / (loss) of associates (net of income tax)

Reported PAT

Q2 FY24

Q1 FY24

Q2 FY23

y-o-y (%)

18,434

18,990

12,219

50.9%

H1 FY24

37,424

H1 FY23

y-o-y (%)

21,981

70.3%

- 279

95 234

- 131

18,713

19,319

12,351

13,556 2,317

9 1,524

17,405

1,308

315

993

227

766

242

524

(10)

515

14,027 2,272

- 1,451

17,750

1,569

302

1,267

259

1,008

284

725

(16)

709

8,777 1,916

- (38.8)

1,150

548

314

234

185

(0.1)

1.5

- 112.2%

51.5%

54.5% 20.9%

- 32.6%

47.5%

138.7%

0.3%

324.4%

22.7%

16x

343x

86 513

- 268

38,023

22,249

27,583 4,588

- 2,975

35,146

2,876

616

2,260

486

1,774

524

1,250

(26)

1,224

15,417 3,614

18 2,153

21,203

1,047

619

428

382

(20)

(58)

(1)

(59)

91.5%

70.9%

78.9% 27.0%

- 38.2%

65.8%

174.8%

(0.4)%

428.1%

27.3%

69x

*Operating Performance stands adjusted for Mark to Market arising from the shares of Quess Corp Ltd (in Employee Benefit Trust), gain of Rs.95 Mn for Q1 FY24 and loss Rs. 56 Mn for Q1 FY23.

Segmental Results – Q2 & H1 FY24 Consolidated

Particulars (Rs. mn)

Segment Revenue

(a) Financial Services

(b) Travel and Related Services

(d) Digiphoto Imaging Services

Total

Segment Results (EBIT)

(a) Financial Services

(b) Travel and Related Services

(d) Digiphoto Imaging Services

Total

Less : Interest and Finance expenses

Less : Common Expenditure

PBT before exceptional

Add: Exceptional Items

PBT

Q2 FY24

Q1 FY24

Q2 FY23

y-o-y Shift

H1 FY24

H1 FY23

Y-o-y Shift

776

916

14,324

14,689

982

2,353

18,434

290

500

243

131

1,153

2,232

18,990

428

504

381

110

1,164

1,423

228

170

766

258

156

1,008

639

8,993

782

1,805

12,219

205

373

185

139

21.4%

59.3%

25.5%

30.4%

50.9%

41.5%

1354%

455.4%

45.6%

212.0%

22.8%

22.4%

16x

1,691

29,012

2,135

4,585

1,118

15,744

1,808

3,312

37,424

21,981

718

1,004

624

241

2,586

486

326

1,774

316

-144

368

196

737

382

309

(20)

51.3%

84.3%

18.1%

38.5%

70.3%

126.9%

69.5%

22.8%

251.1%

27.3%

5.7%

38x

69x

For further information please contact

Debasis Nandy

President and Group CFO

Tel: +91 22 4242 7000

Urvashi Butani

General Manager- Investor Relations

Tel: +91 22 4242 7095

Email: Debasis.Nandy@thomascook.in

Email: Urvashi.Butani@thomascook.in

Corporate Identification No: L63040MH1978PLC020717

Investor e-mail id: sharedept@thomascook.in

Website : www.thomascook.in

Regd. Office: Thomas Cook India Ltd, Marathon Futurex, A Wing, 11Th & 13th Floor, N.M. Joshi Marg, Lower parel (E), Mumbai 400013

About Thomas Cook (India) Limited: Set up in 1881, Thomas Cook (India) Ltd. (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa and Passport services and E-Business. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Luxe Asia, Kuoni Hong Kong, Sterling Holiday Resorts Limited, TC Forex, Distant Frontiers, TC Tours, TC Visa, Travel Circle International Limited, Ithaka, Digiphoto Entertainment Imaging (DEI), Private Safaris East & South Africa.

Disclaimer

 This presentation has been prepared by Thomas Cook (India) Limited (“Company") solely for information purposes without any regard to any specific objectives, financial situations or informational needs of any particular person. This presentation may not be copied, distributed or disseminated, directly or indirectly, in any manner. Failure to comply with this directive may result in a violation of the applicable law in certain jurisdictions.

 This presentation does not constitute or form part of and should not be construed as, directly or indirectly, any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company by any person in any jurisdiction, including in India, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any investment decision or any contract or commitment therefore

 This presentation contains statements that may constitute forward looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as ''expects", "plans", 'will", "estimates", "projects", or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our international operations, government policies, regulations, etc. The Company does not undertake any obligation to revise or update any forward looking statement that may be made from time to time by or on behalf of the Company including to reflect actual results, changes in assumptions or changes in factors affecting these statements. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward looking statements. This presentation may contain certain currency exchange rates and the same have been provided only for the convenience of readers. No representation is made that the Rupee amounts actually represent such USD amounts or could have been, or could be, converted into USD at the indicated rates

 This presentation is not a complete description of the Company and may not be all inclusive and may not contain all of the information that you may consider material. The information contained in this presentation has not been independently verified. No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness, correctness or fairness of the information, estimates, projections and opinions contained in this presentation. Viewers of this presentation must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. Such information and opinions are in all events not current after the date of this presentation. Further, past performance is not necessarily indicative of future results. Any opinions expressed in this presentation or the contents of this presentation are subject to change without notice. This presentation should not be construed as legal, tax, accounting, investment or other advice

 Any person placing reliance on the information contained in this presentation or any other communication by the Company does so at his or her own risk and none of the Company nor any of its affiliates, advisers or representatives, any placement agent, promoters or any other persons that may participate in any offering of any securities of the Company shall have any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions, insufficiencies or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this presentation or its contents or otherwise in connection with this presentation

 This presentation has not been and will not be registered as a prospectus with any Registrar of Companies in India. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement, a private placement offer letter or an offer document under the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law

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Thomas Cook (India) Limited has informed the Exchange about Investor Presentation

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