Indian Railway Catering & Tourism Corporation Limited (IRCTC) Earnings Call Transcript & Summary

Dear shareholders, good afternoon, and a warm welcome to you all to the 24th Annual General Meeting of IRCTC Limited through videoconferencing or other audiovisual facility. [Operator Instructions] Please note that as per the requirements, the proceedings of the Annual General Meeting will be recorded and available on the website of the company. I now hand over the proceedings to Ms. Suman Kalra, Company Secretary of IRCTC Limited.

Thank you, Namaskar, and a very good afternoon to all of you. Dear shareholders, I, Suman Kalra, Company Secretary of Indian Railway Catering and Tourism Corporation Limited extend a very warm welcome to all of you to the 24th Annual General Meeting of the company. In accordance with the Companies Act, 2013 and circulars issued by Ministry of Corporate Affairs and SEBI, this Annual General Meeting is being held through videoconferencing and other audiovisual means. Further, all efforts have been made by the company to enable members to participate and vote on the items being considered in the meeting. Registers would be open for inspection as per requirement of statute. Now I take privilege to introduce Board of Directors of our company and other dignitaries. We have with us Shrimati Seema Kumar, Chairperson and Managing Director.

Namaskar, and very warm welcome to the AGM today.

Shri Ajit Kumar, Director, Finance and CFO.

Namaskar. Welcome to the 24th AGM of your company.

Dr. L. Ravi Kumar, Director, Catering Services.

Namaskar. Welcome to all shareholders for the AGM today.

Mr. K.K. Mishra, Director Tourism and Marketing.

[Foreign Language]

Mr. Neeraj Sharma, Government Nominee Director.

[Foreign Language]

Mr. Manoj Kumar Gangeya, Government Nominee Director.

[Foreign Language]

Mr. Vinay Kumar Sharma, Chairman Audit Committee and Stakeholder Relationship Committee.

[Foreign Language]

Mr. Namgyal Wangchuk, Chairman Nomination and Remuneration Committee.

[Foreign Language]

Mr. Devendra Pal Bharti, Independent Director.

[Foreign Language]

Mr. Vikram Singh, Nominee for -- on behalf of President of India, attending meeting from Ministry of Railways, New Delhi.

Good morning, everyone. I'm Vikram Singh, [ EV ] Tourism and Catering, and present Nominee in IRCTC [indiscernible]. Thank you.

Thank you, sir. Mr. Ashok Malhotra, Statutory auditor from New Delhi. Mr. Naresh Kumar Sinha, Secretary auditor from New Delhi.

Attending this meeting from my office at Noida. Thank you.

Thank you, sir. Shrimati Balika Sharma, Scrutinizer from New Delhi. I now request Chairperson and Managing Director of your company to address you all.

Very good afternoon to all of you. As the requisite quorum for the Annual General Meeting is present as an confirmed by the [ NACL ] with a presence of 106 members, I call this meeting in order. I welcome you all to the 24th Annual General Meeting. With the permission of the shareholders, the notice convening the Annual General Meeting and Directors' report already circulated to you is taken as read. I would also take this opportunity to brief our esteemed shareholders about the performance of your company. Today, as we convene the 24th Annual General Meeting of IRCTC, I warmly welcome each one of you. It is a pleasure to connect with you all. Although virtual, it is a privilege to host you today. On behalf of the IRCTC Board of Directors, I want to thank you for taking out the time to join us. Your continued trust in the company has given us confidence to push ourselves further to deliver market-leading returns and [ constructing ] value for your year after year. India service sector witnessed a swift rebound in FY '22, driven by growth contact-intensive service subsector with both the maximum burden of the pandemic. This subsector completely recovered from the pre-pandemic level in Q2 of FY '23, driven by the release of pent-up demand, ease of mobility restriction and near universal vaccination coverage. The post pandemic scenario of global tourism is gradually converging to pre-pandemic one. With travel restrictions and health concerns subsiding, tourism has become a vital driver of a strong upswing in the contact-intensive activity. India's tourism sector is also showing signs of revival. Foreign tourist arrivals in India FY '23 have been growing month-on-month and with the resumption of scheduled international flight and the easing of COVID-19 regulations. Now coming to the performance of your company during '22-'23. I'm delighted to inform that during the year under review, we have registered a strong financial performance with a total income of INR 3,661.90 crores increased from INR 1,954.48 crores in '21-'22. Our EBITDA stood at INR 1,396.65 crores over INR 949.42 crores in previous fiscal. Our PAT grew to INR 1005.88 crores from INR 659.55 crores in FY '21-'22. Both, EBITDA and PAT, ended up at a healthy margin of 38.14% and 27.47%, respectively. Considering the excellent performance of the company, directors have recommended a final dividend of INR 2 per share for FY '22-'23, subject to the approval of the shareholder in this AGM today. This is in addition to the interim dividend of INR 3.5 per share which was declared in February '23 and paid to the shareholder in March '23. With this, the total dividend declared by the company for FY '23 is INR 5.50 per equity share of the face value of INR 2 each. During FY '22-'23, Department of Investment and Public Asset Management, that is DIPAM, Ministry of Finance issued directives for disinvestment up to 5% of paid-up equity capital in the company. Through offer for sale, subsequent to this OFS, the President of India's holding in IRCTC has reduced to 62.4% from 67.4% of the paid equity share capital of the company. I would like to take this opportunity now to brief our esteem shareholders about the segment highlights for the year '22-'23. Internet ticketing segment has registered a tremendous growth. The company's next-generation e-ticketing system has simplified the life of passengers and consistently heading on growth path by capturing 80.99% share of Indian Railways reserve ticket booked in FY '22-'23. As a milestone, e-ticketing system booked 28,434 tickets in 1 minute on 12th November 2022. IRCTC's e-ticking facility proved as an extremely convenient tool for the paramilitary forces for handling the reserve train e-ticking requirements, eliminating the need for cumbersome manual processes of railway warrant management, reconciliation and accounting between Indian Railways and Ministry of Home Affairs. ITC has developed a dedicated in-house website to maintain the e-ticking system along with the warrant management system for booking of e-tickets through this portal to travel for train in a hassle-free manner. Giving further impetus to this progress, e-ticketing service for Indo-Tibetan Border Police, that is ITBP was launched on 9 February '23. Presently, we are serving 7 central paramilitary forces, that is NSG, CRPF, NBRF, AR, CISF, BSF and ITBP. With the advent of new technology, mode of communication has majorly shifted to mobile phones, which has now become essential part of daily lives. IRCTC has started this opportunity with IRCTC Rail Connect mobile app, both for Android and iOS platform, whereby approximately 47% users are booking tickets through mobiles only. During FY '22-'23, several new features have been added to the mobile app to enhance the experience like biometric-based log-in, Hindi language syncing, [ e-value ] registration facility, proliferation of booking through AskDisha Chatbot and IPA, simplified user account recovery process, new UI design for dashboard page, display of latest recommendation, availability in trains and leave verification of Aadhaar details, et cetera. Going further, IRCTC has signed an MOU with Uttarakhand Civil Aviation development authority for 5 years for online booking of helicopter services to Holy shrine of Shri Kedarnath Dham-ji. IRCTC has developed an online electronic booking -- ticket booking platform for online as well as counted ticket booking along with the QR code based ticket checking. First, booking was opened on 8th April '23 for the [ Yatra ] this year, which started on 24th April '23. During the first quarter of FY '23-'24, 75,828 passengers have booked their helicopter tickets online. IRCTC has earned a revenue of INR 2.57 crores from the convenience fee charged to the passenger. As it is evident, online travel booking platforms have become preferred choice of customers. To take it forward, IRCTC has recently signed an MOU with Delhi Metro Rail Corporation on 14th August '23, to provide facility of seamless booking of QR code-based tickets to DMRC for the users booking e-tickets on IRCTC portal. This is a major step towards streamlining travel experience, setting new standards for convenience, efficiency and connectivity. Now coming to travel and tourism segment. India being one of the most popular table destination across the globe, has resulted in Indian tourism and hospitality industry to emerge as one of the key drivers of growth among the service sectors in India. I'm pleased to report that during this year, IRCTC has initiated the operation of Bharat Gaurav trains across India, with the allotment of LHB rakes from Indian Railways for promotion of domestic railways tourism at a reasonable price. With the induction of these rakes, IRCTC has become the largest train operator in the country, by owning 10 exclusive Bharat Gaurav, LHB rakes in its custody. Full pleasured operation of all these BharaGara rakes have been planned, and 41 tours have already been operated till July '23. These Bharat Gaurav trains, although along with the Special State Tirth trains are poised for a significant operational jump in revenues from the tourism and travel vertical of IRCTC. In addition, in order to attract common mine, especially senior citizens to travel by air, IRCTC has made a new beginning in this segment by operating such tours by air. During FY '22-'23, IRCTC operated State Special tours by air from Jaipur to Kathmandu for Rajasthan State Government and provided services to 538 passengers. Government of India has reposed its confidence in IRCTC for operating various prestigious cultural exchange groups as well. IRCTC organized “Kashi Tamil Sangamam for 2,592 participants from Tamil Nadu to Varanasi, which was operating during February, March '23. And North East Yuva Sangam tours with a total of 29 number of tours carrying 1,250 youths identified by designated Higher Education Institute where IRCTC has provided end-to-end services. I'm pleased to share that IRCTC has also operated Yuva Sangam [indiscernible] for providing services to 982 participant in May, June '23 and Saurashtra Tamil Sangamam tours were operated with 3,234 participants in April, May '23. These cultural exchange tools were operated under Ek Bharat Shrestha Bharat initiative of Central Government. Now coming to the catering vertical of IRCTC. With the resumption of operation of regular trains and cooked food post-pandemic in November '21, the company's mobile catering segment has started operating in full swing. In FY '22-'23, ITC focus is catering operation towards enhancement of meal experience of the passenger fraternity, whether on trains or at station. After witnessing stagnation in catering activity in nearly 2 years on account of pandemic, IRCTC has come back strongly in its catering vertical by commencing of operation of a number of hospitality outlets at railway station and non-railway premises as well. Besides, the company has been interested with the responsibility of provision of catering services in the fleet of prestigious Vande Bharat Trains launched by Ministry of Railways during the year, which also demonstrates the trust of Ministry of Railways on IRCTC. As on 31st March '23, your company has provided onboard catering services in 474 pairs of trains and managed 182 refreshment rooms, 57 Jan Ahaars and 315 food plaza/fast food units. I'm happy to convey that post resumption e-catering segment of IRCTC has also performed exceptionally well. An average of 40,669 meals per day were booked through e-catering during the year under review. Your company is also successfully operating 8 executive lounges on pan-India basis. These state-of-art executive lounges have admiration from one-in-all for their impeccable decor, service and facilities for the railway passengers to wait comfortably during predepartures and post arrivals. Your company also plans to build a network of well-planned chain of hotels that target the economy, budget travelers. Presently, budget hotels at Lucknow, Khajuraho and Kevadia are under construction. And company is exploring the revenues for such hotels at other locations as well. We have approached several state governments for the same. Now Rail Neer vertical. At present, 16 Rail Neer lines are operational on Indian Railways. Out of these, Rail Neer plants located at Nangloi, Danapur, Palur and Ambernath are being departmentally updated by IRCTC and plants at Amethi, Parassalla, Sanand, Hapur, Mandideep, Nagpur, Jagiroad, Maneri, Una, Bilaspur and Bhusawal are being operated under PPP model. Rail Neer plant at Bhusawal has commenced commercial operations during FY '22-'23. Three additional plants at Kota, [indiscernible] and Visakhapatnam are expected to be operational in FY '23-'24. As far as corporate social responsibility is concerned, your company is committed in his contribution to the welfare of the communities in the society where it operates through corporate social responsibility initiatives. The activities undertaken are done by the CSR policy of the company, whose primary objective is to consistently pursue the concept of integrated development of the society in an economically, socially and environmentally sustainable manner, and at the same time, recognize the interest of all shareholders. Your company undertakes the CSR activities as specified in the company's Act and [indiscernible] and guidelines issued by Department of Public enterprise. During the year '22-'23, company completely utilized the CSR budget of INR 12.53 crores towards the CSR activities with special focus on health and education and aspiration districts. The IRCTC is fully committed to conducting business using the highest standard of governance, ethics and integrity. Its strong and effective governance framework supports these values by addressing the potential risk, crucial for its business and help align the management responsibilities with the Board's strategic foresight of the organization. The value set by the Board are embraced by all employees in the right earnest. Your company is fully committed to higher standards of ethical governance practices. I feel proud to share with you that for the third year in succession, IRCTC has received 0 comments from the C$AG on financial statements for FY '22-'23. I am equally pleased to inform that your company has achieved an excellent grading in corporate governance for the year '21-'22 and we are expecting excellent grade in FY '22-'23 also by Department of Public Enterprises. IRCTC has been complying with the requirement of corporate governance as initiated in SEBI regulations and DPE guidelines, on corporate governance, except for a requisite number of independent directors and Women Independent Director on its board, for which we are regularly following up with the Ministry of Railways. Before I conclude, on behalf of the Board of Directors, I wish to convey our sincere regards and deep attitude to our valued stakeholders for continued support and trust. You always have been the motivation force that has facilitated us to move ahead and achieve target despite the numerous challenges. I also put my heartfelt appreciation for all IRCTC employees, who are the backbone of your company and have put their best efforts day after day to transfer your company and to make it competitive. I would like to conclude by saying that your company is fully committed to achieve the bigger goals. To each of you, I offer a sincere thank you. Now I would request Company Secretary to read auditor's report. Jai Hind.

Thank you, ma'am. The reports of C&AG Independent Auditor and Secretary Auditor along with respective management replies form part of this annual report. I'm pleased to inform that independent auditor's report is neither qualified nor modified. Also, the company has received 0 comments from C&AG on the financial statements [indiscernible]. I would read extract so first and last pair of independent auditor's report. As per the auditor's report, in their opinion and to the best of their information and according to these explanations, the financial statements made along with audit report gave a true and fair view in conformity with Indian accounting standards prescribed under Section 133 of the Act read with relevant rules. The last pair of the report is with respect to the other matters included in the auditor's report in accordance with relevant tools confirming that the company has disclosed impact of pending litigations on its financial position has not entered into long-term contracts, including derivative contracts. No amount is required to be transferred to IEPF. And the interim and financial dividend paid during the financial year are in compliance with the provisions of Section 123 of the Act and reporting under Rule 11G of company audit and ordinance rules to 2040 is not applicable for the financial year ended March 1, 2023. Regarding Secretary auditor report, the main observation is with respect to non-appointment of requisite number of independent directors, including independent woman director for which company is regularly taking up the issue with the Ministry of Railways. As the notice is already circulated to all the members, I take the notice convening the meeting as read. [Operator Instructions] Ms. Balika Sharma, Balka Sharma and Associates, Company Secretaries has been appointed as scrutinizer to scrutinize the remote e-voting process, including voting through electronic voting system. The results of voting along with the scrutinizer's report will be available by Monday, 28th August 2023, at the website of company, www.irctc.com. We now take up the resolutions as set forth in the notice. We will open the floor for any questions by members after all the resolutions are tabled. Accordingly, I'll now only read out the resolutions. First is ordinary business. Item #1 is to receive, consider, approve and adopt the audited financial statements of the company for the financial year ended 31st March 2023, along with the Board's report, the report of auditors thereon and the comments of controller and auditor general of India thereof. Resolution #2 is to confirm the payment of interim dividend of INR 3.5 per equity share, that is amounting to INR 280 crores, on INR 80 crore equity shares and to declare a final dividend of INR 2 per equity share, amounting to INR 160 crores on INR 80 crore equity shares for the financial year '22-'23. Third resolution is to appoint a director in place of Mr. Neeraj Sharma, Part-time Official Government Nominee Director, who retires by rotation and being eligible, offers himself for reappointment. Resolution #4 is to appoint Director in place for Mr. Ajit Kumar, Director, Finance, who retires by rotation and being eligible, offers himself for reappointment. Item #5 is to authorize the Board of Directors of the company to fix the remuneration of the statutory auditors to be appointed by C&AG of India for the financial year '23-'24 on the basis of recommendation of the audit committee. Now coming to special business. Resolution #6 is to approve the appointment Dr. L. Ravi Kumar as Director Catering Services, IRCTC. Number 7 is to approve the appointment of Ms. Seema Kumar, IRTS, AM/T&C Railway Board as Chairman and Managing Director, IRCTC. Number 8 is to approve the appointment of Mr. Kamlesh Kumar Mishra, IRTS, EDB Railway Board as Director Tourism Marketing, IRCTC. Resolution #9 is to approve the appointment, Mr. Devendra Pal Bharti as Independent Director, IRCTC. I now request Chairperson to answer the queries of shareholders relating to item of business.

Thank you, Suman. Now I invite the shareholders who have preregistered to ask questions and have joined as shareholder speakers to raise their queries. If any, relating to the item of business, as mentioned in the notice of Annual General Meeting. [Operator Instruction] Moderator, please go ahead now.

[Operator Instructions] I now invite our first speaker, Mr. Sunil Kumar Modak.

Respected Chairman, Managing Director, Company Secretary, other Board of Directors, employees of IRCTC and my fellow shareholders, [indiscernible] joining this meeting from Kolkata. Despite a grim picture for the global economy, India's economical group remained robust in financial year '23 because of strong macroeconomic fundamentals. IRCTC position is a significant participant for millions of people's travel requirement after 2 years technician for Corona Pandemic. Robust revenue growth enhanced profitability increased strong performance from total income INR 3661 crores against INR 1954 crores in last finance year 2021-'22. EBITDA is INR 1396 crores against INR 949 crores last financial year. That is INR 1005 crores against INR 659 crores last financial year. Congratulations, sir, for having received 2 awards on IRCTC Foundation Day on 27 September. Congratulations to everyone; employees, management, all. Sir, the result is good. You have declared a dividend, total INR 5.5 for the year. Sir, this year is 24th year, 25th year is coming year. So how do you like to celebrate this 25th year? This is a landmark year. Kindly intimate us. With this, I conclude. Excellent results for the IRCTC and hope that we will meet coming 25th year with better performance and your announcement, how do you celebrate this 25th year? With this, I conclude.

I now invite our next speaker, Mr. Ajay Kumar Jain.

[Foreign Language]

I now invite our next speaker, Mr. [ Praphull Chhabra. ]

[Foreign Language]

I now invite our next speaker, Mr. [ Sajan Modak ].

Respected Chairman, other Board of Directors. I'm [indiscernible]. I'm attending this meeting from my residence in Kolkata. Ma'am, if we see the performance of our company. this year, higher IRCTC revenue from operation has 88% jumped. Profit before tax is 53% jumped up. Profit after tax also 52.5%, it has increased. And we have given [indiscernible] dividend. So as far as our performance is concerned, our company is doing very good, ma'am. I have got a few questions to ask. What is the guidance you gave, particularly for this year to the investors community as investors will definitely would like to know how much increase or how much decrease your guidance is? And what is the road ahead? What are the new projects you are going to take if you can please tell us them? It would be kind of you. Ma'am, we -- in print media, we get a lot of complaints about the food served in the train as our previous speaker was also pointed out. So what are the steps you are going to take if you can please tell us, it will be very kind of you, ma'am. And one suggestion. We received that -- when we applied for speaker registration, we received the link. But with that link, we did not get what is my number. Is it #5, #6, whatever is that. So it's better if you can provide us the link. It will be very good for us, convenient for us. And when somebody -- moderator is asking my name, so it should always tell the number also, because this is a connectivity problem. Sometimes my connectivity goes. After 3 minutes, the connectivity comes. So I don't know whether my turn has gone out or not. So it will be a very nice if you can do it, ma'am. And before I finish, I'd like to definitely congratulate and thank our Company Secretary, Suman Kalra, and our whole team for being very good investor services to their investors community. You are doing a very good job, your job and your dedication definitely says that you are one of our best officers today in our company.

I now invite our next speaker, Mr. Lukesh Gupta.

[Foreign Language]

I now invite our next speaker, Mr. [indiscernible] Mahadevia.

Well respected, Chairperson, distinguished directors and all the members of the company, Namaskar to all of you. Well, first, let me appreciate that it is because of the virtual meeting that I have been able to take part in this meeting at my age of 84 plus. And let me report that our working of our company is excellent during the year under consideration, and it is very well reproduced in our integrated report for the year, which has got a lot of data and information about the working of the company. I also find that there is service orientation as far as our company is concerned in all aspects of these activities. And I would like to appreciate the cooperation and guidance of the company secretary, which has made it possible for me to participate in a very smooth way. And I also received a physical copy of the report at my request. With all these appreciation and many more to your account, I would now like to proceed to ask some of the questions with a view to increase my understanding and appreciation. My first question is that 2023 has been declared as a year of millets universally, and it was at India's lead. In our report, we don't find emphasis as far as services based on millets is concerned. So may I know whether we are providing meals with all these type of products. Number two, I would also suggest that we should try to use the ghani oil and not the machine-made oil under double refined, et cetera, also. I have 2 or 3 basic reasons of great importance to us. Number 1 is that factory-made oil suffers from 2 problems, there is a great friction in many hectoring operation, and that damages the quality; and number two, chemicals are being used in making such a thing. However, if you introduced the hand pressed or ghani [ oil ], as we call it, it will be of great benefit to the user. It will generate employment all over India. The quality of it is well established now in several parts, and it is also very healthy. It will solve a number of things at a time. My next question and suggestion is that the pay scale of executives, with the compensation package of all the executives in our organization are very low. We are expecting and we are getting services like the efficiency of the private sector, which we are at getting. So why not to increase their compensation package? I believe at least it should be doubled and compare it with what is the compensation package in private sectors in good companies, in big companies. My next suggestion is that could you share the quarterly result of '23-'24 and analyze it for us regarding the trend in this particular year? My next query is that government of India has offloaded 5% of its investment in the company, as a result of which, the market capitalization of our company has remained almost stagnant throughout the year because of this decision of government. May I know whether there is any further plan to reduce the investment of government of India? And my last question is regarding our 5 sources of revenue, the 5 verticals. Can you give some idea how these verticals will respond in the year under consideration '23-'24? And with this, I wish our organization every success at an accelerated rate in the years to come and Namaskar to all of you.

I now invite our next speaker, Mr. [ Santosh Chopra ].

Hello, am I audible?

Yes, sir, we can hear you.

I thank for giving me the opportunity to speak at this AGM. I'm a retired senior citizen from Delhi NCR Kaushambi Ghaziabad and have invested my retirement funds in listed company like yours. I along with my family members, who have invested around INR 10,00,000 at the time of IPO, feel proud to be part of IRCTC, a Miniratna company under center government. I vote the praise for your company's secretarial team, especially everything for your CS, Ms. Suman Kalra, who facilitated me for attending this AGM. I am happy to note important developments in IRCTC as reported in media. Further as reported by Chairperson, Ms. Seema Kumar in her speech on IRCTC development with PPT presentation is really appreciable and keeps the company different from other Navaratna companies. I'm also happy that IRCTC has received nil adverse commerce from CAG, which is also appreciable for all personnel, including the top management. The company -- I also understand that the company is planning to build a chain of hotels. Three budget hotels are under construction at Lucknow, Khajuraho and Kevadia. Diversification of our IRCTC as a fintech company through companies online payment gateway iPay, company plans to enter into segments like helicopter travel, [ Mediclaim ] tourism. Company also plans to expand non-rand-based tourism, namely corporate travel business, cruise river packages, air ticket et cetera. IRCTC is offering Rail Neer packaged drinking water at railway stations and trains in India at a very reasonable price for the salesmen and platform vendors with a view to make more profit commission for selling other local brands, which are unhygienic. So I request IRCTC to take remedial steps. IRCTC is also conducting State [ Teertha ] with a view to further enlarge this facility, some discount coupon may be offered to senior citizen shareholders. I don't want to raise any further question as my queries have already been covered by previous speakers. I once again thank IRCTC management and wish all the best results in coming years, coming days of festivity seasons. Thank you very much.

Thank you so much, sir. I now invite our next speaker, Mr. Anil Mehta.

Am I audible?

Yes, sir, you're audible.

Good afternoon, all of us. This is Anil Mehta, attending this meeting from the Mumbai with my family member, who are also the shareholders of this company. Sir, we have 2 questions. First is the, what is the company doing to improve the shareholder relations? And the second question is, what are the major opportunities and challenging facing the company? And how does the management plan to respond? With this, we are supporting all the resolution and thanks to the secretary department led by Kalra Madam with the supportive and cooperative nature. And all the best for the future.

Ma'am, our speaker shareholder, [ Mr. Rajesh Chennani ] has not joined the meeting yet. And hence, we are inviting the next speaker, Mr. Kaushik Sahukar.

Am I audible and visible?

Yes, sir.

I'm honored to have the opportunity to address you all today. I would like to express my gratitude to the Board of Directors for giving me this chance once again, thank you so much. First of all, I salute the Board of Directors for continuing VC mode of meeting therefore allowing Pan India participation, request you to continue the trend. I'm satisfied shareholder of our company, and I must commend the management for the remarkable efforts in creating wealth for all the stakeholders, more particularly amongst minority stakeholders. However, there are a few concerns I would like to raise. My primary concern pertains to the utilization of savings on account of virtual mode of meeting, I believe it would be prudent and fair to allocate a portion of these funds to the welfare of the shareholders, more particularly among speaker shareholders, who actually participate in AGM as speakers. The -- it would be gesture of recognition appreciation to distribute a small memento among them on the occasion of festivals. [indiscernible], can you provide the breakup of expenses on account of virtual mode of meeting and on account of physical meeting, if possible? I humbly request the Board to consider my proposal and explore the possibility of implementing the gesture of gratitude and appreciation. By doing so, I firmly believe that it will reimpose the positive rapport between the company and the shareholders and contribute to the overall learning of the corporate family. My next concern is, I kindly urge the company to approach the government and make a representation that while there is so hardship faced by, especially abled person and to allow them concession for the differently-abled individuals. It will be appreciated if they can [ remove ] hardship to obtain concessions and do away with separate forms for rail, for trains, for other type of transportation. It really doubts the intention of government, whether they want to provide a relief to the marginalized section people. We are also taxpayer of the nation. So why benefits given to us have it -- should depend on benefits. There are some government, who make everything free like free electricity, free water and free bus transport to all the people regardless the handicap or not. I don't know what is the intention of the government. Once -- it is worth noting that once individual obtains the UDID card, it means that are disabled. So if you have done KYC, then why to harass people again to obtain concession for different transportation mode. I have no idea, why we have to rush to so much one places, other places -- one place and the rail department other place and bus department the other place. Then why so much -- why we're so helpless? Why can't you just use UDID as mode of your concession? Why we have to obtain different...

Sir, I would request you to kindly wrap up your questions or comments in the next 30 seconds.

Last concern. My final concern is the company has been hesitant in the supporting individual needs, including myself. I have said credential in past and followed up consistently, but my requests have not be considered. So not treating differently-able individuals be part of CS activities. I appeal for support and certification work including Form 15CB. Your assistance would mean a lot to me. If I can't get help from such a stable company like IRCTC, then whom can I turn to? I am resending the credential after the meeting in hopes of [indiscernible] to considerations for desired help and support. Ma'am, you assured even last year that you will support me, but there is the same -- there is no positive change until now. I want to clarify that I'm not taking handouts of free money nor in sympathy. I value my independence and self reliance as a Charter Accountant myself, and I hope you can understand and respect my desire to maintain the independence. Thank you for considering my request. I firmly believe that with you support I can make significant contributions for our organizations and have a positive impact on society.

Our next speaker shareholder is [indiscernible].

Hello? Hello?

Yes, Sir, we can hear you.

Yes. Certainly, [Foreign Language] to all. I am [indiscernible] Kotwani from [indiscernible]. I have not received the balance sheet, because the mail from the physical -- we're unable to read electronically. And certainly, there is a lot of improvement should be needed in our organization transparency, particularly, the sanitation is issue. I have visited now [indiscernible] that catering is a problem, because every person already should have addressed and some digital and should be given to this. We should know that he's right person, because there is the so many water [Foreign Language] improvement [Foreign Language]. Long way to do it. Certainly, I will mail you in this regard, but a long way to go, please do for the better future of this organization, strong transparency, competency and particularly the sincerity required, improvement should be in every area, innovation improvement. Thank you and good luck.

Our next speaker, Mr. Dilip Kumar Jain has not joined the meeting. And hence, we are inviting the next speaker, Mr. Santosh Kumar Saraf.

Hello?

Yes, sir, you're audible.

Seema [Foreign Language]

Thank you so sir, I now invite our next speaker shareholder, Mr. Pramukh Kumar Jain.

[Foreign Language]

Thank you so much, Sir. I now invite our next speaker, Mr. K. Sadanand Shastri.

I'm Sadanand Shastri from Bangalore. My number is 1172201. Chairman madam, I will go according to your report only and none other than that. I will steal a quarter minute more. Thank you very much, Chairman. You have given a colorful picturized with the fine print report, which proves the efficiency of the company to the public. As said in your message, '22, '23 financial year is really commendable. Page 21, your packaged drinking water is being misused in and around of railway area and some vendors, especially in the night time, Rail Neer bottle is being used for raw water. Company should eradicate this misuse to save the image of the company. Page #29, what is the use of interesting train information inquiry to third-party? Company has to share [indiscernible] the responsibility for the misdeeds committed by those. Page #45, companies should have its zonal office, or sub office or satellite office in all capital cities, Bangalore being growing metropolitan city should have zonal office. Why can't you open zonal office for southwestern zone? Page #49, installation of CCTV camera, surprise inspections, sudden raids to kitchen and other related areas are must in all long-distance trains to catch the misdeeds and cleanliness.

Sir, I do kindly request you to wrap up your question in the next 30 seconds.

Page #62 -- I am not going out of the report, please. Page #62, you have mentioned Sony Hotel -- some hotels in the rest house, among that Katra in the top of the country. South end [indiscernible] does not have, why can't the company cover top and the bottom? Page #65, why the Ask Disha Chatbot '22, '23 is high only in January, what is its status in current one, whether it is picking up? Page #74, along with Rail Neer, the good motive Sena Jal has come out in the market. How do you face the competition? Is it not a tough one for you? Page #89, foreign exchange and outgo, when the earnings reached to the excess of INR 27 crores, there must be outgo also. Outgo is showing nil, is it hidden anywhere? Page #97, catering service, in addition to foreign company problem of unorganized and individual vendor problems are more ,Swiggy, et cetera, are coming into the picture and spoiling the discipline, company should take drastic steps to [indiscernible]. Page #135, investors, shareholders are benefited with only dividend, you've declared. Company should set apart its little service to shareholders by giving concessions, discounts and other kinds of services. Page #214, balance sheet. In depreciation -- actually deferred tax asset, there is an increase of INR 36 crores, compared to last year, whether it is -- whether it includes any backlog?

I am so sorry to interrupt again.

I'm talking about the balance sheet, no one has talked about it, please bear with me. In trade receivables are unsecured -- almost unsecured, credit risk and impairment to the extent of INR 15,767 lakhs existed. It affects the growth of profit if it goes bad. Somehow what strategy you will take to realization? Cash and equivalent bank balance maintain is on the higher side. Why can't the company use this [indiscernible] for its main activity to boost up the revenue. Capital equity [indiscernible] other equities piling up substantially, why can't the company use the reserves by declaring bonus shares to strengthen the capital and to reduce the abnormal liabilities, borrowings and increasing finance cost. Profit and loss, other expense of INR 29 crores debited towards doubtful bad debts, which ultimately comes back. It is on the higher side, I deplete the profit. Why can't the company take drastic steps for recovery? Debiting bad debt should not be habitual in the interest of the company.

Sir, I am so sorry to interrupt again, but could you please e-mail the remaining questions as other shareholders are waiting, I kindly request you to. Thank you so much, sir. May I request all the registered speakers to kindly be precise and restrict your questions or comments to a maximum of 2 minutes. I now invite our next speaker, [ Mr. Jaydeep Bakhshi ].

Very good afternoon Chairperson madam and Board of Directors. Myself, [ Jaydeep Bakhshi ], connecting from the city of Kolkata. Thanks to our Secretary Madam Sumanji, for giving me an opportunity to express my view and presenting a detailed annual report and to the entire secretarial team, including Ragatji keeping in touch with the shareholders. Madam, your initial speech presentation was vivid and descriptive one regarding our company. Sir -- Madam IRCTC is the backbone and lifeline of the transport sector. Our thoughts for the vision to upgrade and deliver efficient service, kindly highlight on this in tune with our infrastructure development plan. Strong financial performance credit goes to all involved in achieving this performance. And thanks for the dividend you have passed on INR 2 the final one and the INR 3.5 the interim one. Travel and tourism industry is on the rebound expected revenue generation from this sector. Our online ticket booking portal is very much user-friendly. Madam, the IRCTC conducts tours in different destinations, both national and international. What is the percentage of booking at present? I request to send updates of these 2 through e-mails to -- and also that they are coming more bookings on this and also for IRCTC maintained rooms at different stations, which are available. Madam any new technology-driven setup of better services regarding catering request to improve more on the quality of the food and provide price chart for this also in the train? And our expansion plans for unlocking new avenues and any partnership with any industry also.

Sir, you are not audible. Thank you, Sir. I now invite our next speaker, Mr. Santosh Bhutani.

Am I audible?

Yes, Sir, you're audible. Please continue.

Very good afternoon to all the team of IRCTC. Page 24 [Foreign Language]

Thank you so much, Sir. I now invite our next speaker, Mr. [ Bharatraj Kankanala ].

Very good afternoon entire Board of Directors, Madam Chairman, Seemaji; Ajit Kuma, our CFO; and our company [indiscernible] Sumanji. Madam Chairman, wonderful performance. And I congratulate you too, we are [indiscernible] celebrate silver jubilee. Sir, [indiscernible] my dividend payout is increased and net profit has been increased and the IRCTC is doing wonderful performance. And I wrote that you received Woman Leader of the Year and Maharaj Express luxury trains, and green future leader, a lot of awards you received, madam. This is all nothing, madam. This is hard work of your team, entire employment. All the best for coming years, madam. I have 2 questions, madam. At present Rail Neer plant is operating by our own, so far it is operated by third party, please let me know. Second, I want to bring to your notice [indiscernible] Vande Bharat is not as per expected standards, madam. We're traveling in Hyderabad [indiscernible] to Tirupati, previously, when I travel via Shatabdi and Rajdhani, the food is of high standards. Now Vande Bharat the price is more, but the quality of the food is not as per our standards. See your market price of peanuts is INR 10, but in MRP, they are showing INR 30. In the market it is INR 5 or INR 10. So madam, see [indiscernible] because Rajdhani is our pride brand of our PMji, Modiji, so the rail is good, but inside the food is not as per standard, madam. That is only issue I've been to a notice, madam. Our company secretory is always [indiscernible] Sumanji particular called me and informed me [indiscernible] our annual report. Thank you for the secondary services, Madam Chairmanji. Once again, Madam my best wishes to you. Madam, in this happy occasion, madam please arrange sweet box for all the speaker shareholders, madam. If it is possible, madam, please send a discount coupon for the luxury trains.

Thank you so much, Sir. I now invite our next speaker, Mr. [ Rohanton Batiwala ].

Hello, can you hear me?

Yes, Sir.

Ma'am -- see a lot has been spoken, so I will not take much of your time -- all I would say as -- there are a few questions that I need to ask. First is what is our installed capacity and utilized capacity for bottling of water? And previous shareholders have mentioned that the bottle water has been misused, which I agree -- a lot many places I have traveled, the bottled water -- the Rail Neer bottle and the bottle available over there at times is different and there are a lot of -- what do you mean by duplication activity going on. Secondly, in the food, in some places, there is very good food, but some places there is very [indiscernible] total substandard food. Now sometimes we see these people, who are serving, they have this IRCTC logo on them. We are not able to make out whether they are genuine or they are the station people. And now with this Vande Bharat sleepers and Rajdhani and Tejas and all these new trains coming in, what is IRCTC's take on providing catering for these trains? Are you going to set new standards or is going to be the same?

Thank you so much, sir. I now invite our next speaker, Mr. [ Swaran Lata ]. [Operator Instructions]

Madam Chairman, Board of Directors and my fellow shareholders attending my e-meeting. Most of my queries have been covered in Chairman's speech, but I have a little query that since the company had strong performance last year in terms of revenue and the profit after taxes and as well as reserves. Should we expect a bonus issue in current financial year? At last, I would like to thank Madam Kalra and her team for providing a copy of annual report in my single request and hope that management will continue to hold our shareholders' meeting through VC, so that shareholders from far away places like me, can interact with the management in future also. I hereby support all the resolution. Thank you, and all the best.

Thank you so much, ma'am. I now invite our next speaker, Mr. [ Vimal Krishna Sarkar ].

Madam. [Foreign Language]

Thank you so much, sir. I now invite our next speaker, Mr. [ Krishan Lal Chadha ].

Hello ma'am, can you hear me?

Yes, Sir, we can hear you.

Thank you so much to give me the change to speak with you. Myself, Chetan Chadda, and I'm joint holder with the Krishan Lal Chadha. [Foreign Language]

But I would try request you to wrap up your question or comments in the next 30 seconds.

Ma'am, I am really -- thank you so much. And to give me the chance, I am really thankful to the Secretary Department. Please think about my suggestion.

I now invite our next speaker, Ms. Kanika Jan.[Operator Instructions]

I'm audible?

Yes, ma'am, you are audible.

First of all, I would like to thank our honorable Prime Minister, Shri Modi ji, for the most effective improvement in rail infrastructure in India and by giving a world-class look to Indian Railways. This leads more and more usage of rail transport and reciprocally the usage of IRCTC and increase in the profit of our company. No doubt, the management and staff is doing hard work to provide the facilities to all types of passengers, which now also include ticket booking for air passengers. Sir -- ma'am, I would like to know that if our management is also thinking about the ticket booking facility of Volvo Buses, operated by the state government and which are presently running between Tier 1 and Tier 2 cities. Also, sir, if you have seen IRCTC under license are selling packaged food, water waters and in trains at railway stations. In this case, I request the Chairman and railway ministry that the MRP given on each item may be printed in bold and a little bigger size, so that it helps the passengers to identify the rates easily and quickly then there is short of time. At last, I would thank the whole secretarial team for allowing me to keep my views in front of the management and I hope the management will follow this platform to hold the shareholders' meeting in the future. Thank you and all the best.

I now invite our next speaker, Mr. Vinod Agarwal. [Operator Instructions]

[indiscernible] Vinod Agarwal from Mumbai.[indiscernible] And, we are running into the silver jubilee year already. How are you likely to celebrate. I can't reveal at the company for all the question is about to shown on Page 34 of the annual report of CSR activities [indiscernible] -- and the revenue is also over 89% higher compared to the previous year, a very good momentum. And then I would like to know -- madam I like to know, can the company give a discount to shareholders for staying in Yatri Niwas or retire because it is operated by you. If we go and travel ticket [indiscernible] not given anything on Yatri Niwas and the retiring room if they are operated by you. Can you give discounts for staying for shareholders who visited different cities. Thank you for signing off Vinod Agarwal from Mumbai.

I now invite our next speaker, Mr. Gagan Kumar.[Operator Instructions]

Myself, Gagan Kumar, I'm joining this meeting from Delhi. [Foreign Language] It contains all the aspects of balance sheet and as far as the future prospects of our company. So [Foreign Language] On next year of silver jubilee, can we expect a bonus or an entire increased dividend at the 25th AGM? And what is our road map from next 2 to 3 -- so what is our road map for the next 2 years? That is all from my side. I don't want to take much time. At last, I would like to thank our CFO, our CS and the entire team, maintaining certain high standard of corporate governance.

Ma'am, our next speaker, Mr. Shivam Agarwal has not joined yet, and hence, we are inviting Mr. Ashok Kumar Jain [Operator Instructions]

I am audible?

Yes, sir, we can hear you.

First of all, I congratulate to the and entire management to give us a great performance during the financial year '22-'23. Secondly, thanks to the secretariate department and company secretary madam to help us join the meeting on VC portal sir. Ma'am, [Foreign Language]

Hello. Hello?

Yes, sir, we can hear you.

Yes, myself, Yashpal Chopra, shareholder with client ID 30051382570454. Sir, I must compliment and the bless the Chairperson, Madam Seema Ji, our CFO, Mr. Ajit and Madam Suman Ji who is investor friendly, who is very close to our hearts. So I must compliment them. And I must congratulate you for the grand, grand performance of the company for the last year, there is all round progress in revenue, PBT, PAT, ROC, EPS. And this is in spite of in a horrible time and turbulent global economy. Last year, having it shadow on our economy as well. So sir if we have achieved that much even under those circumstances. So definitely, we are going to get a bright, bright future ahead because now the times have changed and...

I'm so sorry to interrupt, sir. But I kindly request you to wrap up in the next 30 seconds.

Yes, yes. So next, the future is very bright because now the people have realized the value of their life and people know that instead of saving [Foreign Language], so they want to enjoy it. So all air travels and railway bookings and all hotels, resorts and everything is booked. So that will give a boost to our company's revenue in the next year. So great, great thanks are getting me a chance to speak. Thank you. Best of luck for the festive greetings ahead. So I will pray God for the positive stand to the company and our management.

I now invite our next pick speaker Mr. Manjit Singh. [Operator Instructions]

Am I audible?

Yes, sir. You are audible.

IRCTC management team or [Foreign Language]

I now invite our next speaker, Mr. Sashi Jan. [Operator Instructions] Ma'am, I think we are facing some network issues with the shareholders. So we will be moving on. I now invite our next speaker, Mr. Surendra Kumar Arora,[Operator Instructions].

Very informative, very reliable. [Foreign Language]

Thank you. I now invite our next speaker, Mr. Rishabh Jain. [Operator Instructions]

Am I audible?

Yes, sir.

Okay. So first of all, I would like to thank the secretary department for allowing me to be a part of this meeting and put forward my queries. I just have a couple of small queries, and I would like to hear the answers for them. So my first question is that what are the company's plans for its new products and services? It is planning to launch any new products and services in the coming time? My second question is that how is the company planning to improve its customer service for ticket booking, especially during the tatkal hours as it is often seen that the site almost crashes during the tatkal hours. My third question is that are there any steps that IRCTC is taking to promote the eco-friendly practices, reduce its carbon footprint and contribute to the sustainable development for the entire country as there are various goals that have been set by the country level and which are published at international levels also. And my final question is that what are the IRCTC's key priorities and goals that it wants to achieve in the coming years, especially in the very near future. Lastly, I would like to thank the entire management and the secretary department to give me an opportunity to connect directly and put forward my queries. Thank you, and wish you all the best for the coming time.

I now invite our next speaker, Mr. Atanu Saha. [Operator Instructions]

Am I audible?

Yes, sir, we can hear you.

[indiscernible] I Atanu Saha, shareholder of IRCTC Limited. My respected Chairman, Seema Ji; and CFO, Ajit Ji and all Directors and our company secretary on [indiscernible] and our total team and our government nominee and our president, nominee and all my shareholders present in this virtual meeting. I give my thanks to everybody. Sir, one thing, my previous shareholders only rise not necessarily to repeat the same questions. Sir, my question is that, sir, what about the shareholders [indiscernible], one point. Second, what about the discount to put? Third point, the shareholders, which is [indiscernible] holding decreasing. But how do we increase our public shareholder and I wish a good year ahead with good results and good health to everybody. So one -- I wish that -- just a moment. One, this is our IRCTC where we solve the mission we stand all a [indiscernible] with extraordinary performance. I wish or we need to [indiscernible]. Thank you. Have a good day.

I now invite our next speaker, Mr. Ankur Tanda. [Operator Instructions] Sir, we're not able to hear you. Kindly accept the unmute request.

Sir, our corporate governance is too good. [Foreign Language]

With this, all the speaker shareholders who registered and did log in, were given an opportunity to speak. And now I hand over the proceedings to our Chairperson.

Let me begin with thanking each one of you once again for reposing so much of faith in your company. I would like to express my gratitude, especially to the following speakers for acknowledging the good work being done by IRCTC team. I would be taking their names. And if I miss anybody, please pardon me. Sunil Kumar Modakji, Ajay Kumar Jain, Sujan Modak, Santosh Kumar Saras, Shailesh Mahadevia, Santosh Chopra, Anil Mehtaji, [indiscernible], [indiscernible], Shastri Sahab, [indiscernible] BakhshiJi. Santosh BhutaniJi. [indiscernible], Soyam Lataji, Vimal Krishna Sarkar, [indiscernible] Kanika Jain, Vinod Agarwal, Gagan Kumar Ashok kumar Jain, [indiscernible] Chopraji, Manjit Singhji, Rishabh Jain, [indiscernible] and Ankur [indiscernible] . If I'm missing anybody, please excuse me, but we really appreciate that hard work being putten by the IRCTC is being acknowledged by our shareholders for whom we work day and night for improving the performance of this company. Now I would be taking questions one by one. But to begin with generic question, what is the road map ahead. This is the main question in everybody is asking. Let me begin by saying we have seen the performance which we have received in 2022-'23 for the way ahead. See, pre-COVID, we had around 809 trains in which we had the catering contracts. Till August, we have already done 1,209. So 400 additional trains have been done more than COVID. 200 additional contracts are in pipeline. As we are aware, Ministry of Railways has already had a plan and notified that in coming 3 years, 500 additional Vande Bharats will be coming. That means IRCTC will be doing e-ticketing, catering, rail needs, all the services onboard services for these trains also. So this is the pipeline as far as train services are concerned. Now coming to this tourism sector. This is a new project of Bharat Gaurav Train, which was taken last year by undertaken by IRCTC. As mentioned in my speech, 10 [rigs] have been allotted by Ministry of Railways in our custody for running these trains. We had run 41 trains into '22-'23. And in this year, '23-'24, we have already run 60 trains till date and 100 more are in pipeline. In addition, we are having a huge demand for state [indiscernible] as well. This plus together will result into significant [indiscernible] into the [indiscernible] for IRCTC. Now Rail Neer plants. We already have 3 Rail Neer plants to -- which are likely to be operational in this financial year and 1 more in next year. This will add to our production capacity and result in profits. As in my opening speech, we have undertaken a novel project, which is a ticketing along with the DMRC, Delhi Metro Rail Corporations. In this, at present, at New Delhi, Delhi and Anand Vihar alone, we have 20,00,000 passengers per day, which are interchanging between Metro and Indian Railway. Now in this joint exercise, which is undertaking the DMRC, IRCTC will be providing a facility for passengers who were coming by metro and onwards going by the Indian Railways to have a unified ticket so that they don't have to stand in the line at the boarding station or devoting station. We expect a great adventure and exercise in this, and we intend to extend it to further Tier 2 metros like Kochi, Lucknow and other places also. This is also a new initiative we have already taken. If I'm -- we are also -- for budget hotels, many people have asked you. One of the speakers, if I may just say has asked for the tier for budget hotel [indiscernible]. Let me tell you in talks with UP government, it is in advanced stages, and we are likely to get a land parcel from the UP government on which we are planning to build a budget hotel. Along with this, we are also in talks with other state governments, other many state governments for allotting us land for budget totals. We are doing a feasibility study, and we will be undertaking this project further. Now coming for individual questions one by one. As far as 25 years of IRCTC celebration is concerned, management is fully committed to have a very grand celebration befitting this organization. This company of yours, which is doing wonders in the total market scenario, we would be getting back to you with the details very shortly. Now for your expectation and aspiration for IRCTC to become Navratna company, let me share with you all, we are already working. We have sent a proposal -- submitted a proposal to Ministry of Railways for upgradation of our company from Miniratna to schedule A and onwards. We will work towards taking it to Navratna status as well. Now for complaint registration, [indiscernible] had asked, let me inform that 139 is a universal number of Indian Railways on which you can register complaints through mobile, through SMS or to social media or through e-mail, et cetera. Regarding the refund to be processed immediately, let me just submit here when the -- when ticket is booked, there is a process which involves the banks as well because the amount is being deducted from your account. So for refund also, we have to go through the process of reconciliation with the bank and which is taking some time. We will work towards further improvement in this area. Coming to this improvement in inspection quality and to so that quality of food can be improved. Let me assure you, sir, with my 35 years of service in Indian Railways, we are absolutely committed for this improvement in quality of services onboard services, whether it is a railway supply or the catering services on board, we have hospitality monitor. We have food safety inspectors to be detailed, I would be sharing with you, inspections are being done. And we have standardized recipes in the menu, CCTV cameras have been installed in the base kitchens. QR codes stickers are being put in the meal package. We are -- Indian Railway as well as higher CTC is deploying food safety supervisors on board as well. Third-party safety and hygiene audit, both on trains and the kitchen is being undertaken. Onboard monitoring of quality of services is being done by the IRCTC supervisors as well. This is all in addition to the checks and balances are in place by Ministry of Railways. Now Sujan Modak Ji have asked for way ahead, which I've already shared. As long -- as far as sequencing of speakers to be informed in advance I fully agree that this is an excellent idea. We should be doing this so that speakers are aware that they are the next to speak to. Lokesh Guptaji has asked for the cybersecurity measures we've taken for our e-ticketing system. I can assure you that we are working very seriously on the security measures on e-ticketing system, which is the most robust e-ticketing system globally. At various levels, we are following the guidelines of [indiscernible] NCIPC, MHA in full spirit. Now if I can give you some details, we are having application layer security controls. We have network and infrastructure layer security control, physical security control and we have very robust security audit and monitoring system. Our engage system has been audited by development of advanced computing that is C-DAC. It is also integrated with certain situational awareness project. Security logs are being continuously monitored on a regular basis for mitigation of security threats. And we are -- our system is so robust and continuously we are with -- even MHA's cybersecurity crime team so that any threat whatsoever does not hamper and effect our e-ticketing system. Now next coming to Shailesh Mahadeviaji, [Foreign Language] I'm very happy to announce that Ministry of Railway has also mandated IRCTC to implement millet-based recipes in the system. And we have instructed licenses and then we are also monitoring that a few of the recipes I can tell you, ragi laddu, ragi kachoris, ragi idli, ragi dosa, ragi appam et cetera. We are providing on the train onboard services. Your suggestion for oil quality has been noted. Compensation package to executive -- this is being done, sir, as per the DP guidelines for a Miniratna company because these are decided by the DP guidelines as per the classification of the company, the compensation package has decided. For Santosh Chopraji, we are taking all measures to ensure that only Rail Neer Brand is provided because railway has also mandated nominated station for supplying railway water. [Foreign Language] One of the speaker has asked me about what is my production capacity? And what is my -- what is my current production and what is my additional project? That would be Batliwalaji. At present, production capacity of Rail Neer is 15,52,000 liters per day, and we are currently producing 12,00,000 liters per day. With 3 additional plants, we will rise to 18,40,000 per day. We are continuously working towards ensuring Rail Neer supply to the railway passengers. Now coming to Santosh Chopraji, as far as discount coupon to senior citizens, this railway fairs are decided and published by Ministry of Railways. IRCTC is just the e-ticketing platform. Any concession, which has to be given, it has to be given as a policy to all the rail passenger, whether they book on e-ticket or they go to the station to put their ticket so that the situation of differentiated pricing does not arise. For shareholder relation improvement measures, Anil Mehtaji. We are having earnings calls after every Q1. We are having AGMs regularly. We also have a nominated Investment Relations Officer, with whom any time, he can be contacted on phone or an e-mail. We are committed to answer all your queries and worked along with you for improvement of this company. Santosh Kumar Sauravji, I fully agree with your concern about the percentage of female employees. As on date, it is 15%, and we definitely need to improve, we will be working towards it, sir. Revalidation of tickets, sir, this inventory is of Indian Railway. This is issued for a 1 particular day, particular train, and revalidation, if any, the policy has to come from the Ministry of Railways, your concern and your issue -- we will definitely send it to a Ministry of Railway for [indiscernible]. For VC, meeting few speakers have appreciated that we are coming on, and there are some suggestions for hybrid mode. We will definitely consider hybrid mode in times to come. [Foreign Language] We will explore your suggestion for providing guide on the train as well. [Foreign Language] IRCTC is already functional at Bangalore to cater to SWR. This is -- next is Santosh Bhutaniji, Bharat Gaurav Trains are doing good. Thank you for your wishes, and we intend to do much better in future. Kankanala Bharat Rajji, pardon me if I'm pronouncing your name wrong. As far as Vande Bharat food quality is concerned, this is our premium brand, which is being inaugurated by honorable PM as well. We are fully committed and we will definitely address if there is any quality. We are attempting to give the best quality meal on the train. But as you suggested, we will further work to improve it. For bonus issues, [Swaran] Lataji, we are bound by the DIPAM guidelines. As and when DIPAM decides, we would definitely be complying with those instructions. Vimal Krishna Sarkarji, CSR [Foreign Language], we are thankful to you. Kanika Jainji, you have spoken about the bus booking, let me inform you that we have already -- bus booking is already available in IRCTC platform in the year '22-'23 1,63,670 passengers have availed this facility of bus booking on IRCTC platform, and we are also exploring further revenues with other state governments or bus booking. And Sir Vinod Agarwalji, you have asked for discount in Railyatri Niwas state. Tariff of Railyatri Niwas is decided by Indian Railways, if IRCTC has to give something, this will come only from the revenues we are doing. That means your operating cost will increase, but your suggestion has been noted duly. Ashok Kumar Jainji, you have spoken about profit not being commensurate with the revenue. Sir, I would like to inform you that IRCTC has a revenue mix. Internal ticking has a higher profit margin while catering and tourism have relatively -- margins are not that high. So depending on like in the year '22-'23, our catering and tourism is now picking up. While in last year, it was e-ticketing which was the most -- which was a major contributor. So depending on the revenue mix, it decides our profits at the end of the year. As far as Manjit Singhji, you have talked about the Vande Bharat occupancy and the fair. Sir, for any train for that matter, whether it's Rajdhani, Shatapdi, Duronto Mail Express or Vande Bharat Trains. The fares are decided by Ministry of Railway only. IRCTC gets to book only the tickets on e-ticketing platform, catering and Rail Neer. Ministry of Railway is seized with the occupancy of Vande Bharat, and I'm sure they will be working towards it. Your concern will be -- definitely, we register it with the Ministry of Railways. As far as green area at stations is concerned, Sir, this plantation around the station area is being taken up by Ministry of Railways as in the environment, [E&HL] activities of Indian Railways. For Rishabh Jainji your concerned towards tatkal booking. I would like to inform you that upgradation of IT system is in the pipeline. We are intending to do lot of investment in this area so that booking becomes smoother and the glitch being faced during the tatkal hours get sorted out. Regarding this eco-friendly thing practices being followed by IRCTC, I would like to inform you that IRCTC is working in this direction in the right earnest. As far as Rail Neer plants are concerned, we are fully complying with the extended producer responsibility as against the target of 2,177 metric ton of plastic waste disposal, we have recycled 2,463 metric tons, and we have achieved this targets given by the state pollution control boards. Raw materials used in Rail Neer plants are not single -- not a single used plastic material is being used and everything is recyclable. Rail Neer plants are having 100% rainwater harvesting systems. Regular plantation driving being carried out at all Rail Neer plants. Food packaging and service materials are of wooden and cornstarch, spoon, trays, fork et.cetera are also of cornstarch or wooden and not a single single-use plastic material is being used. Waste management of garbage is being strictly done as per the SOP guidelines setted by the railways. Now coming to [indiscernible] Bakhshiji and one more on if I'm missing the name for the price chart, quest has been put. Yes, this should be available. We would be taking measures so that it is enforced and on-demand price chart is available with the server of the mobile catering units. [indiscernible] for special need facilities, sir, this is a policy matter. Ministry of Railway would be informed all your concern. Sir, as far as momentum on special occasions, this thing has been noted by the management, and we will definitely be working towards it. For appeal for support, as you said you had done last year also, please send a mail to CMD's office. I will definitely look into it and see what is done as per the policies of the company, sir. With this, if I have missed any details. One of the speakers had asked for the detailed comments on the balance sheet in the annual report, sir, I would be sending -- personally sending a mail to you with comments on balance sheet performance with audio concern. Thank you once again, I would like to thank you to all the speakers who have shown so much of interest and ask pertinent question. This only motivates us to do better and also take care of your concern as a team shareholder. Thank you, [Foreign Language].

Thank you so much, Ma'am. The icon for e-voting is available on the screen, which will redirect you on a separate window to the e-voting portal NSDL. The e-voting facility will be closed 15 minutes after the closure of meeting. The results of voting will be declared on Monday, 28th August 2023 and will be intimated to stock exchanges also. I now invite Ajit Kumar, Director, Finance and CFO, to kindly give a vote of thanks.

It gives me immense pleasure to propose the vote of thanks to our Chair Person and Managing Director, Board members of the company, [indiscernible] of the honorable President of India, our valued shareholders, [indiscernible], statutory and secretary auditors of the company, NSDL and MultiTV. I'd also like to thank [indiscernible] Simons Limited, [indiscernible] share transfer agents of your company. Last but not the least, the entire IRCTC team. Thank you.