ANNEXURE-D
ABOUT BLUE COAST HOTELS LIMITED
In financial year ending March 31, 2019, the company had handed over its only operational asset Park Hyatt Goa Resort & Spa pursuant to the order of the Honble Supreme Court, impacting companys ability to continue as a going concern. The title of above hotel property continues to remain in the name of the company and it has exercised its right of redemption by filing the redemption petition before Honble High Court of Bombay at Goa. The petition is pending adjudication and its outcome may impact the alleged sale of hotel property at Goa.
Blue Coast Hotels Limited was engaged into the hotel business till 19.09.2018 and no operating activities have been carried out during the year.
Financial Performance with respect to Operational Performance
Standalone
For the period under report, the Companys total income for the year under report stood at Rs39.03 Lakhs (previous period Rs83.96 Lakhs). The Company has a net loss (after tax) of Rs714.18 Lakhs as against the net loss (after tax) of Rs 339.39 Lakhs during the previous year.
Consolidated
For the period under report, the Companys total income for the year under report stood at Rs39.35 Lakhs (previous period Rs83.96 Lakhs). The Company has a net loss (after tax) of Rs714.51 Lakhs as against the net loss (after tax) of Rs 340.81 Lakhs Lakhs during the previous year
Risks and Concerns
The handing over of only operational asset of the company to the auction purchaser has impacted the companys ability to continue as a going concern.
Internal Control System
The Company has an internal financial control system, commensurate with size, scale and complexity of its operations. The internal financial control system is adequate and operating effectively so as to ensure orderly and efficient conduct of business operations. The Companys internal financial control procedures ensure the reliability of the Financial Statements of the Company and prepared in accordance with the applicable laws.
Human Resources
Your Company lays great emphasis on the importance of human resources and recognizes the fact that no organization can grow without a committed team of employees at all level. The number of people employed on full time basis by the Company as on 31 st March 2023 stood at 6.
Details of Significant Changes in Key Financial Ratios:-
Particulars |
Year Ended | |
March 31, 2023 | March 31, 2022 | |
Debtors Turnover Ratio | Nil | Nil |
Inventory Turnover | Nil | Nil |
Interest Coverage Ratio | Nil | Nil |
Current Ratio | 0.11 | 0.16 |
Debt Equity Ratio* | Nil | Nil |
Operating Profit Margin (%) | Nil | Nil |
Net Profit Margin (%) | Nil | Nil |
*Preference Share has not been taken into account as debt.
Sector Specific Ratio :-
Particulars |
Year Ended March 31, 2023 | Year Ended March 31, 2022 |
Occupancy Ratio | Nil | Nil |
Rev PAR (in Rs) | Nil | Nil |
TRev POR (in Rs) | Nil | Nil |
FRev POR (in Rs) | Nil | Nil |
Change in Return on Net Worth
During the year under review, as well as in the previous year, there is Nil return on Net Worth.
During the year, the Company has recorded losses largely on account of provision of dividend on Preference Shares.
By Order of the Board | Sd/- |
For Blue Coast Hotels Limited | (Kushal Suri) |
Place: New Delhi |
Whole Time Director |
Date: 25.08.2023 |
(DIN: 02450138) |
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