THOMASCOOKNSE3 February 2025

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

Thomas Cook (India) Limited

February 3, 2025

The Manager, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 500413 Fax No.: 2272 2037/39/41/61

Dear Sir/ Madam,

The Manager, Listing Department National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Mumbai – 400 051 Scrip Code: THOMASCOOK Fax No.: 2659 8237/38

Kurla Complex, Bandra (E),

‐

Sub: Analyst and Investor Earnings Conference Call Presentation

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our intimation dated January 29, 2025, please find enclosed a copy of Investor Presentation on financial and business performance of the Company for Q3 & 9M FY25, for the Earnings Call scheduled to be held on Wednesday, February 5, 2025.

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

Thomas Cook (India) Limited (TCIL) Q3 & 9M FY25 Earnings Presentation February 05, 2024

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

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 63.83% 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

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’s Consolidated Total Income from Operations for 9M FY25 grows 9% y-o-y to Rs 62,595 mn; registers PBT growth of 6% y-o-y to Rs 2,904 mn for the same period*

Key Highlights (9M FY25):

•

Financial services income from operations up by 7% with EBIT margin expanding 700 bps to 47%. Growth driven by 15% increase in retail turnover, led by 30% rise in the education segment and 9% increase in holidays segment, along with improved operational efficiencies and additional float income

Travel and related services income from operations grew 12% with a steady EBIT margin at 3.9%

• • •

•

B2C Holidays (20% y-o-y) growth across both domestic and outbound segments India Destination Management Services (DMS) increased (24% y-o-y) in income from operations, in line with the increase in foreign tourist arrivals International DMS reported 21% growth in topline led by operations in APAC and US. Middle East operations saw a stable performance despite the continuing conflicts in the region The overall Travel segment’s 9M FY25 income from operations (excluding Government business of Rs 2,468 mn in 9M FY24) saw a strong 19% increase. Correspondingly, EBIT excluding this impact & increased by 28% y-o-y

Leisure hospitality (Sterling Holiday Resorts) saw an impressive 14% y-o-y increase in top line with healthy EBIT margins of 27%. The segment benefited from its expanded network of resorts, increased domestic travel and strategic initiatives to enhance customer experiences

Consolidated PBT up 6% to Rs. 2,904 mn vs Rs. 2,729 mn in 9M FY24

Consolidated PAT declined by 11% primarily due to the increase in Effective Tax Rate (ETR). Sterling Holiday Resorts recognized Deferred Tax Assets (DTA) of Rs 231 mn on accumulated business losses and unabsorbed depreciation in Q4 FY24, upon establishing profitability certainty. As it is now utilizing this DTA by recognizing tax expense of Rs 210 mn, its effective tax rate for 9M FY25 is higher compared to 9M FY24. This primarily led to an increase in the Group’s consolidated effective tax rate to 34%, up from 24% in the prior year

Strong financial health: The Company reported cash and bank balances of Rs. 20,210 mn as of December 2024 and a debt-to-equity ratio of 0.12

*All figures exclude exceptional items and MTM gains/loss arising from the Company’s shares in Quess Corp Limited, held through its Employee Benefit Trust

Financial Services, India Travel business and Leisure Hospitality deliver strong performances in Q3 FY25

Q3 FY25 performance highlights:



Financial services increased income from operations by 16% with EBIT margin expanding 592 bps to 39%. Increase driven by 18% growth in Retail turnover led by Education and Holidays segments growing by 10% and 15% respectively

Travel and related services

o Income from operations increased 11% with a strong contribution from B2C holidays (up 29% y-o-y), India DMS (up 19% y-o-y), international

DMS (up 18% y-o-y) and corporate Travel (up 17% y-o-y)

o Adjusting for income from operations from the Nationals games in Q3 FY24, the Travel segment growth (on a like to like basis) stands at 19% o EBIT in the Travel segment for the quarter was lower due to the absence of contribution of National Games in Q3 FY24 and impact of

heightened currency volatility in overseas DMS segment especially Asian Trails.

Leisure hospitality (Sterling Holiday Resorts) topline increase 12% with an improvement in EBIT margins to 31%. Increase in occupancy to 61% on an expanded resort network of 57 resorts and 3118 rooms has driven overall performance

Digital Imaging Solutions (DEI) results were influenced by multiple factors such as lower footfalls due to geopolitical tensions in the region, the one- time government subsidy received in Q3FY24 and overlapping technology costs during WeC platform implementation. These collectively muted topline and EBIT performance

Performance for Q3 & 9M FY25

Margin %

(Rs mn)

Total Income from Operations*

EBITDA*

+7%

19,381

20,831

+9%

62,595

57,318

8.3%

6.7%

7.7%

7.5%

-13%

1,614

1,397

+6%

4,405

4,670

Q3FY24

Q3FY25

9M FY24

9M FY25

Q3FY24

Q3FY25

9M FY24

9M FY25

PBT*

5.4%

3.7%

4.8%

4.6%

-26%

1,041

768

+6%

2,729

2,904

*All figures exclude exceptional items and MTM gains/loss arising from the Company’s shares in Quess Corp Limited, held through its Employee Benefit Trust

Q3FY25

Q3FY24

9M FY24

9M FY25

Segmental Performance – Quarterly

Margin %

(Rs mn)

Travel & Related Service

+11%

16,230

14,630

Forex

+16%

644

744

Leisure & Hospitality

Digital Imaging Solutions

+12%

1,243

1,389

-7%

2,414

2,247

m o r f e m o c n

s n o i t a r e p O

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3F24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

4.7%

2.9%

32.8%

38.7%

30.4%

30.7%

9.3%

2.6%

T I B E

-31%

687

471

+36%

288

211

+13%

378

427

-74%

224

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Segmental Performance – Nine Months

Margin %

(Rs mn)

Travel & Related Service

+12%

43,643

48,966

Forex

+7%

2,335

2,490

Leisure & Hospitality

Digital Imaging Solutions

+14%

3,842

3,378

-8%

7,000

6,409

m o r f e m o c n

s n o i t a r e p O

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

3.9%

39.8%

46.7%

T I B E

+12%

1,897

1,692

+25%

1,164

929

29.6%

27.5%

+5%

1,056

1,001

6.6%

3.0%

-59%

465

189

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

Key Highlights

Update on Business operations : Foreign Exchange

Income from Operations (Rs mn)*

EBITDA (Rs mn)

EBIT (Rs mn) EBIT (Rs mn)

Margin %

+16%

744

644

34.9%

40.9%

32.8%

38.7%

+36%

304

224

+36%

288

211

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Foreign Exchange

• Growth in Income from Operation: 16% YoY for Q3 FY25 • • • •

Retail Segment increased 18% y-o-y led by Holiday segment: 15% growth y-o-y and Education up by 10% App bookings: 83% growth q-o-q Video KYC enabled bookings: 2,900 transaction since inception/till date; 85% success rate Forex via WhatsApp: 2,000 interactions daily; 4x growth in leads; 300+ sales bookings for Q3 FY25

* On net basis

Update on Business operations: Travel & Related Services

(Rs mn)

Margin %

Income from Operations

+11%

16,230

14,630

-4%

17%

22%

B2C Travel

22% Holidays - Domestic + International

•

% Mix in Q3FY25

B2B Travel

78%

DMS - India + International

• • MICE •

Corporate Travel*

62%

Gross Margin Profile (%)

Q3FY24

Q3FY25

MICE DMS - India+International Inter segment elimination

Corporate Travel* Holidays

* On net basis

EBITDA

5.7%

4.0%

-23%

840

643

EBIT

-31%

4.7%

687

2.9%

471

Holidays (Domestic + International) 14% - 15%

Destination Management Services 15% - 17%

MICE 8% - 9%

Corporate Travel

4% - 5%

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Update on Business operations Q3FY25 : Travel & Related Services

Leisure Travel:

Destination Management Services (DMS) Network

• •

•

• •

Q3 FY25: Sales growth of 29% y-o-y Launched unique tours for experiential travel (Northern Lights, Autumn and Winter) and festive tourism Launched Europe Summer Holidays 2024 - in Oct 2023; attractive early bird offers to inspire bookings Launched SOTC regional campaign films across six key markets Both Thomas Cook & SOTC were early movers to launch a wide range of Kumbh Mela special products in the market - ranging across budget, standard, deluxe and premium. These have understandably done well and generated a lot of interest and bookings for this in demand spiritual extravaganza

•

Meetings-Incentives-Conferences-Exhibitions (MICE)

• Managed over 150 groups,

including mega groups of over 800-1040 delegates. Key international destinations: Europe, Australia, South East Asia, UK, UAE, Türkiye, Egypt; Domestic: Goa, Jaipur, Rajasthan, Delhi

• Managed an interactive experience with renowned cricketer Brett Lee at Sydney Cricket Ground for a rewards & recognition award ceremony, complemented by stretched hummers and limousine transfers from the hotel to the venue, hot air balloon experience with client’s company branding, Golfing tournament at Top Golf in Sydney National Games: Thomas Cook India MICE is the exclusive partner for accommodation, catering and transport for the prestigious National Games 2025 being held in Uttarakhand between January 28th and February 14th, 2025

•

Corporate Travel:

• • • •

•

Q3 FY25: Turnover grew by 13% y-o-y 4 new large corporate accounts implemented with a target annual turnover of Rs 381 mn 2 large corporate accounts acquired across sectors like Logistics and FMCG Adoption moved to 58% (domestic) and 2% (International) on the corporate self-booking tool Non-Air and Car business has grown over 54% and 131% y-o-y respectively

India DMS in Q3 FY25 increased 19% y-o-y in income from operations, in line with the increase in foreign tourist arrivals

Overseas DMS: Sales improved by 18%, y-o-y for Q3 FY25

• Middle East - Desert Adventures: Q3 FY25 showed steady y-o-y performance, driven by a healthy performance in MICE (Gulf Dunes) and market such as CIS, Europe and Oman. Persistent geopolitical tensions disrupted tourism, leading to tepid footfalls in the region in a traditionally a high season. Changes in the Middle East are now fostering optimism for a more stable improve market geopolitical conditions over time

environment,

expected

•

East Africa - Private Safaris: Q3 FY25 performance showed a decline y-o-y, primarily due to the absence of business from FTI following its insolvency and the impact of KES strengthening against the USD

South Africa Private Safaris: Witnessed strong volume in Q3 FY25, led by Groups and MICE segments

USA - Allied TPro: Delivered positive growth in Q3 FY25, with higher volumes and improved contribution margin primarily driven by groups

Asia Pacific - Asian Trails: Experienced healthy growth in Q3 FY25, with strong performance from key markets such as Thailand, Indonesia and Vietnam. EBIT in the quarter was influenced impact of heightened currency volatility thereby affecting profitability

Update on Business operations : Leisure Hospitality (Sterling Resorts)

Income from Operations (Rs mn)

EBITDA (Rs mn)

EBIT (Rs mn)

+12%

1,243

1,389

38.0%

38.8%

30.4%

30.7%

+14%

539

473

+13%

378

427

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25



Leisure hospitality (Sterling Holiday Resorts) top-line increase 12% with an improvement in EBIT margins to 31%. Increase in occupancy to 61% on an expanded resort network of 57 resorts and 3,118 rooms has driven overall performance.

   



Best ever quarter on revenues and margins Occupancy at 61% for Q3 FY25 Guest ratio of non-members grew to 81% (up by 9% y-o-y) Sterling inventory grew to 57 resorts and 3100 rooms New Resorts launched in Q3: Lontano Waterfront Wayanad (Kerala), Brookstone Coorg (Karnataka), Bagh Ranthambore (Rajasthan) Sterling continues to be a debt-free company with cash surplus

Margin %

Update on Business operations: Leisure Hospitality (Sterling Resorts)

Resort Occupancy

61% (Q3 FY25)

Network 57 Resorts; 15 Owned resorts, 32 Partnered model

3,118 rooms

Sale of Room nights 21% y-o-y

New resorts launched during Q3 3

Average Room Rate (ARR) Rs. 6,788

Food & Beverage (F&B) revenues

20% y-o-y in Q3 FY25

Guest Ratio

(Q3 FY24)

72%

(Q3 FY25)

81%

Sterling Bagh – Ranthambore

Sterling Lontano - Wayanad

Sterling Brookstone - Coorg

Leisure Hospitality & Resorts (Sterling Resorts) : Network

Hill Station

Beach

Waterfront

North • Mussoorie

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

East

West

• Darjeeling • Gangtok OV • Kalimpong

• Lonavala • Mount Abu • Panchgani • Stolen Heaven

Lonavala

South • Munnar • Vythiri • Yelagiri • Yercaud • Coorg • Ooty - Elk Hill • Ooty - Fern

Hill

• Kodai - Lake • Kodai - Valley

• Palm Bliss Rishikesh • De Laila Srinagar

Heritage / Pilgrimage

• Mantra Haridwar

• Balicha Udaipur • Jaisinghgarh Udaipur • Pushakar • Udaipur - Aravalli

• Puri • Bokaro

Jungle

• Corbett • Kanha • Sariska • Padam Pench • Orient Woods Pench • Bagh

• Goa - Varca • Karwar

• Badami

• Gir

• Guruvayur • Arunai Anantha Tiruvannamalai

• Thekkady • Wayanad - Vythiri

• V Grand Madurai

• Anaikatti • Palavelli Godavari • Lake Palace Alleppey • Athirapally • Alleppey

House Boat

• Lontano Wayanad

Adventure & Themeparks

• Sajan (NT) • Durshet (NT) • Kundalika

(NT)

• Dabhosa (NT)

Upcoming

Natural Trails

* As of Dec 2024

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

Margin %

Income from Operations (Rs mn)

EBITDA (Rs mn)

EBIT (Rs mn)

-7%

2,414

2,247

12.6%

303

-57%

5.8%

130

9.3%

224

-74%

2.6%

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Key Highlights

•

DEI results were influenced by multiple factors such as lower footfalls due to geopolitical tensions in the region, the one time government subsidy (Rs

134 mn) received in Q3FY24 and overlapping technology costs during WeC platform implementation. These collectively muted topline and EBIT

performance.

Other Updates:

•

17 partnerships renewed in UAE, Maldives, India, Macau and Singapore

2 new partnerships signed in India and Maldives

3 partnerships operationally launched in India, Maldives and Indonesia

We are across the world

3 Continents

18 Countries

190+ Partners

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

Q3 & 9M FY25 Performance

Results – Q3 & 9M FY25 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 PBT before exceptional items Exceptional Items PBT Tax expense PAT Share of Profit / (loss) of associates (net of income tax) Reported PAT

Interest cost mix (%)

Interest Cost

Other finance charges

Interest on lease liabilities

Q3 FY25 20,610

Q2 FY25 20,038

Q3 FY24 18,931

y-o-y (%) 9%

9M FY25 61,707

9M FY24 56,355

y-o-y (%) 9%

- 221 20,831

15,165 2,565

19 1,703 19,453 1,378 369 1,009 260 750 (37) 713 246 467 6 473

33 401 20,472

14,712 2,634

- 1,446 18,793 1,679 347 1,332 236 1,096 - 1,096 380 716 4 720

28 450 19,408

13825 2544

1,398 17,767 1,642 332 1,310 242 1,068

1,068 172 896 9 905

(51%) 7%

10% 1%

22% 9% (16%) 11% (23%) 7% (30%)

(33%) 43% (48%) (28%) (48%)

32 888 62,627

45,439 7,714

- 4,772 57,925 4,702 1055 3,647 711 2,936 (37) 2,899 986 1,913 11 1,924

113 963 57,431

41,407 7,133

4,373 52,913 4,518 948 3,570 727 2,842

2,842 696 2,146 (17) 2,129

Q3 FY25

Q2 FY25

Q3 FY24

9M FY25

9M FY24

28%

51%

21%

23%

56%

22%

27%

56%

18%

24%

55%

21%

30%

55%

15%

(72%) (8%) 9%

10% 8%

9% 9% 4% 11% 2% (2%) 3%

2% 42% (11%)

(10%)

Q3 FY25

Q2 FY25

Q3 FY24

y-o-y (%)

9M FY25

9M FY24

y-o-y (%)

Segmental Results – Q3 & 9M FY25 Consolidated

Particulars (Rs. mn)

Segment Revenue

(a) Financial Services

744

839

644

(b) Travel and Related Services

16,230

15,915

14,630

(d) Digiphoto Imaging Services

Total

Segment Results (EBIT)

(a) Financial Services

(b) Travel and Related Services

(d) Digiphoto Imaging Services

1,389

2,247

1,196

2,088

1,243

2,414

20,610

20,038

18,931

288

471

427

410

776

301

211

687

378

224

Total

1,245

1,552

1,500

Less : Interest and Finance expenses

Less : Common Expenditure

Profit from ordinary activities before tax

260

236

750

236

221

242

190

16%

11%

12%

(7%)

36%

-31%

13%

(74%)

(17%)

24%

2,490

2,335

48,966

43,643

3,842

6,409

3,378

7,000

61,707

56,355

1,164

1,897

1,056

189

4,306

711

659

929

1,692

1,001

465

4,087

727

517

12%

14%

(8%)

25%

12%

(59%)

-2%

28%

1,096

1,068

(30%)

2,936

2,842

For further information please contact

Debasis Nandy

President and Group CFO

Tel: +91 22 4242 7000

Urvashi Butani

Ami Mehta

General Manager- Investor Relations

Manager- Investor Relations

Tel: +91 22 4242 7095

Tel: +91 22 4242 7621

Email: Debasis.Nandy@thomascook.in

Email: Urvashi.Butani@thomascook.in

Email: ami.mehta@thomascook.in

Corporate Identification No: L63040MH1978PLC020717

Investor e-mail id: sharedept@thomascook.in

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

Website : www.thomascook.in

Rahul Agarwal / Abhishek Shah

Strategic Growth Advisors - Investor Relations Advisors

Tel: +91 98214 38864 / +91 9930651660

Email: rahul.agarwal@sgapl.net / abhishek.shah@sgapl.net

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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