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Riya Travel & Tours (I) Private Limited

| GST  27AAACR3178B1ZM

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RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED

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OVERVIEW - RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED

Riya Travel And Tours (India) Private Limited is an unlisted private company incorporated on 21 May, 1992. It is classified as a private limited company and is located in Mumbai, Maharashtra. It's authorized share capital is INR 52.00 cr and the total paid-up capital is INR 45.70 cr.

Riya Travel And Tours (India)'s operating revenues range is INR 100 cr - 500 cr for the financial year ending on 31 March, 2023. It's EBITDA has increased by 172.72 % over the previous year. At the same time, it's book networth has increased by 12.82 %. Other performance and liquidity ratios are available here .

Description: The company provides travel services and resources.It offers hotel booking, air tickets and tour packages.

Products & Services: Air Tickets, Marine, Visa, Passport Assistance, Holidays & Leisure, Railways, Travel Insurance, Foreign Exchange, and Global Simcard Category: Service Provider

The current status of Riya Travel And Tours (India) Private Limited is - Active.

The last reported AGM (Annual General Meeting) of Riya Travel And Tours (India) Private Limited, per our records, was held on 30 September, 2023.

Riya Travel And Tours (India) Private Limited has seven directors - Gracy George , George John Maniyattu , and others .

The Corporate Identification Number (CIN) of Riya Travel And Tours (India) Private Limited is U99999MH1992PTC066873. The registered office of Riya Travel And Tours (India) Private Limited is at GULAB BUILDING, 237, P. D.MELLORD, FORT, MUMBAI, Maharashtra.

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• # Wherever available * Prices are exclusive of taxes. ** Company has reported to have approved financials for 31 March, 2023. However, in case, they are not available at MCA because of non-filing or damage, then we will provide the latest financials downloadable from MCA. *** Working hours: 9am-6pm (Mon-Fri)

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REGISTERED DETAILS - RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED

U99999MH1992PTC066873

Incorporation Date / Age

21 May, 1992 / 32 yrs

Last Reported AGM Date

30 September, 2023

Authorized Capital

INR 5200.0 Lacs

Paidup Capital

INR 4569.75 Lacs

Community, Personal and Social Services

Unlisted Private Company

Company limited by Shares

subcategory

Non-govt company

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Registered Address

GULAB BUILDING, 237 P. D.MELLORD, FORT MUMBAI - 400001 Maharashtra - India

How to download RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED report

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FINANCIAL HIGHLIGHTS - RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED

How to get financial reports of riya travel and tours (india) private limited.

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Directors - RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED

The company has 7 directors and 1 reported key management personnel.

The longest serving directors currently on board are Gracy George and George John Maniyattu who were appointed on 21 May, 1992. They have been on the board for more than 32 years. The most recently appointed director is Vinod Subramanian, who was appointed on 03 May, 2024.

George John Maniyattu has the largest number of other directorships with a seat at a total of 10 companies. In total, the company is connected to 9 other companies through its directors.

GRACY GEORGE

GEORGE JOHN MANIYATTU

NITIN GEORGE JOHN

MANOJ SAMUEL

THOMAS MATHAI

JAYAN MADHAVAN NAIR

NEHA DILIP SARFARE

VINOD SUBRAMANIAN

Bank-wise Biggest Charges on Assets

Previous names, previous cins, similar companies, subsidiary companies.

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Company Network - RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED

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FAQ - RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED

The Incorporation Date of RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED is 21 May, 1992.

The operating revenue of RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED is in the range of INR 100 cr - 500 cr for the financial year ending on 31 March, 2023.

The EBITDA of RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED has increased by 172.72 % over the previous year. At the same time, it's book networth has increased by 12.82 % for the financial year ending 31 March, 2023.

The company provides travel services and resources.It offers hotel booking, air tickets and tour packages..

The products and services offered by RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED are Air Tickets, Marine, Visa, Passport Assistance, Holidays & Leisure, Railways, Travel Insurance, Foreign Exchange, and Global Simcard.

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Detailed Rationale

CRISIL Ratings has   upgraded its ratings on the bank facility of   Riya Travel   And Tours India Private   Limited (RTTIPL)   to   ‘CRISIL BBB+/Stable/CRISIL A2’   from ‘CRISIL BBB/Stable/CRISIL A3+ ’.

The upgrade in the ratings reflects   an   improvement in the overall credit profile of the company. B usiness risk profile has improved marked by improvement in revenue s to Rs. 195 crore s in fiscal 2023 and is further expected to increase to around Rs. 230-235 crore in fiscal 202 4 , while margins have been healthy at around 23-2 4 % for the past two fiscals through fiscal 2024 . This   was driven by an   increase in demand   for   air travel,   post   decline   during the Covid-19   pandemic.   Business profile is expected to rema in   comfortable with sustenance of its scale of operations supported by healthy demand for air travel and strong network of sub-agents of the company.  

Financial   risk   profile has also been improving marked by steady accretion to reserves and controlled debt level. It is further expected to improve with expected networth of around Rs. 285-295 crore as on March 31, 2024, while debt levels have been reducing leading to expected improvement in total outside liabilities to adjusted networth of around 2 times. Li quidity continues to remain adequate with healthy expected cash accruals against no repayment obligations, moderate bank limit utilization and healthy cash and bank balances.

The ratings reflect   the benefits from   established relationships with   and International Air Transport Association   (IATA), and   multiple airlines, a strong   distribution channel and an experienced management team. These strengths are partially offset by   the   large working capital requirement and   susceptibility   to intense competition,   cycl icality in the airline industry and adverse regulatory changes .

Key Rating Drivers & Detailed Description

Strengths :

• Established market position marked by e stablished relationships with multiple airlines and strong distribution channel:   RTTPL is an IATA-approved agent   having   strong relationships with international airlines, which provide higher performance-linked bonuses. Widespread presence across India and tie-ups   with more than 5 0 ,000 sub-agents   have   helped the company grow   its   revenue over the past   few   fiscals.   The   geographically diversified   customer profile   further the company   operations from any decline in demand in a particular location.   The revenues of the company have been increasing for the past three fiscals post relaxation of travel restrictions which were imposed during covid-19 and is further expected to achieve revenues of around Rs. 230-235 crore in fiscal 2024. Hence, the company will continue to   benefit from its   healthy   relationships   with suppliers and customers   and   strong distribution network over the medium term
• Experienced management team:   The promoter,   Mr George Maniyattu John Thampy has been in the travel management business since 1979. His longstanding presence   has helped RTTPL become one of the largest air-ticketing agents in India, with a strong brand recall.   Despite the drop in demand for air travel in fiscal 2022, t he promoters   could   generate revenue through other segments. With   further pick-up in air travel   in the current fiscal, revenue   growth should continue over the medium term.
• Comfortable   financial risk profile:   Networth has been improving and is expected to improve to around Rs. 285-295 crore as on March 31, 2024 from Rs. 260 crore a year ago. Further the company has been reducing its reliance on external debt to support working capital requirement leading to improvement in the gearing and total outside liabilities to adjusted networth (TOLANW)   ratios to 0.5-0.6 times and around 2 times respectively as on March 31, 2024 as compared to 2.22 and 0.83 times a year ago. Debt protect ion metrics   were   comfortable,   marked by expected interest coverage of around 3-3.2 times in fiscal 2024 . Financial   risk   profile   should improve further   with steady accretion to reserves, moderate debt and increase in scale of operations.

Weakness es :

• Large working capital requirement:   Operations are working capital intensive as credit is provided to customers on the entire ticket value, and advances are provided to low-cost carriers. The company receives moderate credit from full carrier airlines, and advances from global distribution system companies.
• Susceptibility   to intense competition, cyclicality in the airline industry and any adverse regulatory changes:   Low fixed   asset requirement and technology barriers   have attracted several players into the travel and tourism industry.   Non-exclusivity and intense competition from other IATA-approved agents limit scalability for RTTPL. The industry is also cyclical in nature and   sensitive to overall economic conditions. The global travel industry was severely impacted from January 2020 till fiscal 2022 on accoun t of reduced international travel amidst the pandemic. The onset of new variants of the Covid-19 virus resulted in further waves of pandemic. The travel sector also remains vulnerable to geo-political risks that impact on travel and could affect the performance of business.  

Liquidity : Adequate

Liquidity should remain comfortable   driven by expected net cash accrual of Rs   40-45 crore against   nil term   debt   obligation   over the medium term.   Fund-based limit was utilised at 45% on an average over the   12 months ended October 2023.   The company held   cash and cash equivalents of Rs   201 crores and Rs. 165 crore as of March 31, 2023 and Sept 2023 respectively out of which Rs. 45 crore Rs. 56 crore is unencumbered during the same period.

Outlook : Stable

CRISIL   Ratings   believes RTTPL will continue to benefit from its established market position in the air-ticketing segment, steady demand for air travel and healthy financial risk profile.

Rating Sensitivity factors

Upward   factors

• Significant growth in scale of operations through continued healthy demand and diversifaction of business operations while maintaining operating margin leading to healthy cash accrual   of higher than Rs. 60 crores .
• Sustenance of working capital cycle leading to improvement in financial risk profile .

Downward   factors

• Decline in revenue or operating margin leading to cash accrual of less than Rs 25 crore .
• Stretch in working capital cycle   straining   liquidity .

About the Company

RTTIPL was incorporated in 1992 by   the promoter,   Mr. George John Maniyattu Thampy .   The   company   is   engaged in   providing   air-ticket booking   services along with   other   ancillary services   such as   currency exchange, visa processing   and travel insurance.   It has   a   head office   in   Mumbai and branches across India. It has a   head office   in   Mumbai and branches across   India.

Key Financial Indicators

Any other information : Not applicable

Annexure - Details of Instrument(s)

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