Message
Dear Shareholders,
A conducive domestic policy environment and the Government's sustained focus on
structural reforms have kept India's economic activity robust despite global headwinds. By
optimising our operations and delivering exceptional experiences to our valued customers
through our business segments, we registered strong growth in the fiscal year.
During the fiscal year under review, the travel and tourism industry saw a rebound,
with growing traveller aspirations. IRCTC has been positioned as a significant participant
in meeting the travel requirements of millions of people. With our rising prominence in
the online ticketing industry, we operate as one of the most transacted websites in the
Asia Pacific area.
We have witnessed a significant increase in domestic and international travellers,
which has resulted in changing preferences and diversified client needs. IRCTC actively
supports and promotes tourism initiatives, connecting various destinations and communities
across India. At IRCTC, we monitor market dynamics and embrace technology-driven solutions
to meet the evolving needs of our clients.
Hospitality being one of the main business objectives of the company, in FY 2022-23
IRCTC focused its catering operations towards enhancement of the meal experience of the
passenger fraternity whether on trains or at stations. After witnessing stagnation in
catering activities for nearly 2 years on account of the pandemic, IRCTC came back
strongly in its catering vertical by commencing of operation of a number of hospitality
outlets at railway stations and non-railway premises. Besides, the company has been
entrusted with the responsibility of provision of catering services in the fleet of Vande
Bharat Trains launched by the Ministry of Railways during the year which also demonstrates
the trust of Ministry of Railway on IRCTC.
Delivering a stellar performance
I am delighted to share that our ticket booking has increased to 28,434 tickets per
minute in FY23. We have booked average 11.82 Lakh tickets per day, out of which 5.60 Lakh
were booked through our Rail Connect App in FY23. As part of the Bharat Gaurav initiative,
we are currently operating 300 trains annually as compared to 150 trains in the previous
year.
During the year we have witnessed a strong performance with a total income of Rs.
3661.90 crores which increased from Rs. 1954.48 in FY21-22. Our EBITDA stood at Rs.
1396.65 crore over Rs. 949.42 Crore in the previous year. Our PAT grew to Rs. 1005.88
crores from Rs. 659.55 in FY22. Both EBITDA and PAT ended up at margins of 38.14 % and
27.47 %, respectively.
Transforming to serve better over the years
Over the years, IRCTC has undergone significant transformations to meet the evolving
needs of our passengers. Our online ticketing platform has simplified the booking process,
making it convenient and accessible to millions across the country. We have expanded our
e-catering services, offering a diverse range of delectable meals to suit every palate.
Through our Rail Neer segment, we provide affordable packaged drinking water bottles
across railway stations in India ensuring cleanliness and purity. We have also tied up
with our B2C agents such as MMP, IXIGO, Paytm, Goibibo, Railofy and so on, to enhance our
mobile booking.
Our financial performance has been commendable, with robust revenue growth and enhanced
profitability. We have effectively managed costs, optimised operational efficiencies and
diversified our revenue streams to mitigate risks and drive sustainable growth.
In terms of customer satisfaction, we have consistently prioritised the delivery of
exceptional services. Our focus on enhancing passenger experience, punctuality, and safety
measures has earned us the trust and loyalty of millions of travellers.
Through strategic planning, continuous innovation, and leveraging technology, we have
witnessed significant expansion in our services, customer base and revenue streams. The
growing demand for railway travel, tourism and related services has propelled our growth
trajectory, allowing us to serve our customers better.
We have successfully introduced numerous initiatives, such as e-ticketing, online
booking platforms, and integrated service offerings, ensuring convenience, transparency,
and a seamless experience for our valued customers.
Moreover, our expansion into new business verticals, including packaged drinking water,
catering, and e-ticketing, has diversified our revenue streams and strengthened our market
presence. We have forged strategic partnerships, collaborated with industry stakeholders,
and fostered synergies to drive growth and unlock new opportunities.
Optimising our environmental footprint
We are committed to minimising our environmental impact, promoting social well-being,
and ensuring long-term sustainable growth.
Environmental sustainability is a key focus area for us. We have implemented various
initiatives to reduce our carbon footprint, conserve energy, and promote eco-friendly
practices. These include the adoption of renewable energy sources, waste management
strategies, and water conservation measures. Through these conscious efforts, we aim to
contribute to a greener and more sustainable future.
Our values are also strongly rooted in social sustainability. We prioritise the safety,
health, and well-being of our customers, employees, and the communities we serve. We
engage in employee development, create a positive and conducive work atmosphere, and
promote diversity and inclusion. Additionally, we actively engage with local communities,
supporting education and healthcare through social welfare initiatives.
Unlocking new opportunities
Our expansion plans into new business verticals, strategic partnerships, and
collaborations will contribute to our growth trajectory. We aim to diversify our revenue
streams, tap into emerging areas, and explore innovative business models to unlock new
opportunities and create value for our stakeholders.
Moreover, the government's continued focus on infrastructure development, including
railways, will further support our growth prospects. We align our strategies with these
developments and capitalise on the evolving landscape to drive operational efficiency and
enhance our service offerings.
As we move forward, our business outlook remains focused on sustainable growth,
customer-centricity, and innovation. We will continue to invest in our people, foster a
culture of excellence, and maintain our position as a trusted and preferred travel and
hospitality provider.
The travel and tourism industry present tremendous opportunities for IRCTC's growth and
success. We are committed to delivering world-class travel experiences, exploring new
avenues and fostering partnerships to continuously elevate the standards of our services.
I extend my heartfelt gratitude to all our stakeholders for their unwavering support,
which has been instrumental in our journey so far. Together, we will continue to shape the
travel and tourism landscape and contribute to the growth of the Indian economy.
Thank you.
Seema Kumar
Chairperson and Managing Director