Bharat Hotels Limited - thelalit.in

1 1 CONTENTS PAGE of Directors 2 Board s Report 3 Standalone Financial Statements: auditors Report 33 Balance Sheet 40 Statement of Profit & Loss 41 Cash Flow Statement 42 Notes to the Financial Statements 44 Salient Features of Financial Statements of Subsidiaries 85 Consolidated Financial Statements: auditors Report 86 Balance Sheet 90 Statement of Profit & Loss 91 Cash Flow Statement 92 Notes to the Financial Statements 94 Bharat Hotels LimitedBharat Hotels Limited2 CHAIRPERSON AND MANAGING DIRECTORDr. Jyotsna SuriEXECUTIVE DIRECTORSMs. Divya Suri SinghMs. Deeksha SuriMr.

2 Keshav SuriDIRECTORSMr. Ramesh SuriMr. Lalit BhasinMr. Hanuwant SinghDr. Khan Mr. Dharam Vir BatraMr. Vinod KhannaCHIEF FINANCIAL OFFICERMr. Madhav SikkaCOMPANY SECRETARYMr. Himanshu PandeyREGISTERED OFFICEB arakhamba Lane, New Delhi - 110001, IndiaSTATUTORY Batliboi & Co. LLPC hartered AccountantsGolf View Corporate Tower BSector-42, Sector RoadGurgaon - 122002, Haryana, IndiaBANKERSYes Bank Bank Bank Jammu & Kashmir Bank Bank of IndiaFINANCIAL INSTITUTION KSIDC S REPORTTO THE MEMBERS,The Directors have pleasure in presenting 35th annual Report together with the Audited Financial Statements and the Auditor s Report of the Company for the year ended 31st March, 2016.

3 FINANCIAL HIGHLIGHTSThe Financial highlights of the Company for the year under review are given below:(Rs. in lacs)ParticularsFinancial Year2015-162014-15 Revenue from operations (net)51, , Income 3, , Income 55, , before Depreciation, Interest and Tax 16, , : Depreciation 5, , : Interest Income 4, , : Interest & Finance costs 11, , (Loss) before tax 4, ( )(Add) / Less: Prior Period Items (Add) / Less: Extra Ordinary Items -( )(Add) / Less: Provisions for tax including deferred tax / (Loss) after tax 3, : Balance brought forward from the previous year 20, , available for appropriation 23, , : Proposed final dividend.

4 Tax on proposed dividend surplus in the Statement of profit & loss22, , Financial Statements for the Financial Year ended 31st March, 2016 have been approved by the Audit AND STATE OF THE COMPANY S AFFAIRSOver the years the Lalit Suri Hospitality Group has consolidated its position as one of the leading privately owned hospitality chain of the country. The group has eleven operational Hotels in the five star deluxe segment and two Hotels in the mid segment. During the present year, the Hotels at London and Mangar (Faridabad) shall commence commercial operations.

5 The next hotel project of the group at Ahmadabad is in advance stages of Lalit Suri Hospitality School at Faridabad is the maiden venture of the group in the field of hospitality education & training. The school, partly functional, is scheduled to be fully functional in the coming the financial year 2015-2016, the total turnover of the Company was Rs. 55, lacs (Previous year: Rs. 48, lacs), an increase of and EBIDTA was Rs. 16, lacs (Previous year: Rs. 11, lacs), an increase of % due to higher turnover, effective cost control and better management.

6 Profit after tax was Rs. lacs (Previous year: Rs. lacs), an impressive increase of 307 times as compared to the previous Hotels Limited4 DIVIDENDThe Board has recommended a dividend of per share per equity share of Rs. 10/- each. The dividend, if approved in the forthcoming annual General Meeting will be paid to those Members, whose names appear in the Register of Members as on the closing OF UNPAID AND UNCLAIMED DIVIDEND TO IEPFP articulars of unpaid or unclaimed dividend amounts as per Section 125(2) of the Companies Act, 2013 are uploaded at the Company s website Pursuant to the provisions of Section 205A(5)

7 Read with Section 205C of the Companies Act, 1956, unclaimed dividends up to the financial year 2007-08 have been transferred to the Investor Education and Protection Fund (IEPF) by the Company. The amount of dividend for the financial years 2008-2009 to 2014-2015 remaining unclaimed for a period of seven years from the date of transfer to Unpaid Dividend Account shall be transferred to the IEPF and no payments shall be made in respect of any such claims after the TO RESERVESD uring the financial year 2015-16 an amount of Rs. lacs (Previous Year Rs. lacs) has been transferred to General Reserve from revaluation SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTST here was no material change and commitment s affecting the financial position of the Company between the end of the financial year and the date of this IN NATURE OF BUSINESSD uring the year, there has been no change in the nature of business of the Company.

8 All the Hotels of the Company are operated under the brand The LaLiT .SUBSIDIARIES The Consolidated Accounts of the Company and all its subsidiaries / joint venture of subsidiaries viz., Jyoti Limited , Prime Cellular Limited , Apollo Zipper India Limited , Prima Buildwell Private Limited , Kujjal Builders Pvt. Ltd. (Joint venture of Prime Cellular Limited ) and Cavern Hotel & Resorts FZCo (Joint venture of Prima Buildwell Private Limited ) form part of the annual Report. Further, the statement containing the salient features of the financial statements of all subsidiaries / joint ventures pursuant to Section 129 (3) of the Companies Act, 2013 in the prescribed form AOC- 1 also form part of the annual Report.

9 The statement provides the details of performance and financial position of each of the subsidiaries. Further, during the financial year no company became or ceased to be subsidiary / Joint Venture / Associate of the AND KEY MANAGERIAL PERSONNELThe Members of the Company at its last annual General Meeting held on 23rd September, 2015, had re-appointed Mr. Keshav Suri and Mr. Batra, as directors of the Company liable to retire by terms of the provisions of Section 149 and 161 of the Companies Act, 2013, Mr. Hanuwant Singh, Dr. Mohmmad Yousuf Khan, Mr.

10 Vinod Kishanchand Khanna, Mr. Lalit Bhsain, Mr. Chakor Lalchand Doshi and Mr. Abhay Kumar Navalmal Firodia were appointed as Independent Directors of the Company for a period of 2 years with effect from 27th September, 2014 to 26th September, 2016. Mr. Chakor Lalchand Doshi and Mr. Abhay Kumar Navalmal Firodia have ceased to hold office of director of the Company during the current financial year. The Nomination and Remuneration Committee of the Board has recommended that Mr. Hanuwant Singh be appointed as a Director of the Company, liable to retire by rotation with effect from 27th September, 2016 and Dr.