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FY-2015: Sterling Holiday Resorts Sales Promo spend up 4.1%

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BENGALURU: Sterling Holiday Resorts (India) Limited (Sterling Holidays) reported Sales Promotion spend (Sales Promo) in FY-2015 (year ended 31 March, 2015) at Rs 17.16 crore (10.2 per cent of net sales), which was 4.1 per cent more than the Rs 16.48 crore (12.5 per cent of nets sales) in the previous year. Sales Promo spends in Q4-2015 (quarter ended 31 March, 2015) at Rs 5.71 crore (13.6 per cent of net sales) was more than double (2.6 times) the Rs 2.19 crore (eight per cent of net sales) in Q4-2014 and 26.9 per cent more than the Rs 4.5 crore (9.8 per cent of net sales) in the immediate trailing quarter.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

Please refer to Fig 1 below. During the 13 quarter period starting Q4-2012 until the current quarter, sales promo spends show a linear increasing trend in terms of absolute rupees as is indicated by the broken maroon trend line. However, in terms of percentage of net sales, the linear trend is reducing, as demonstrated by the broken green trend line. The company’s highest sales promo spends in terms of absolute rupees , whilas in the current quarter in terms of percentage of net sales was it in Q2-2013 at 21.7 per cent (Rs 5.10 crore) of net sales.

Sterling Holidays net sales in FY-2015 at Rs 168.05 crore was 27.4 per cent more than the Rs 131.89 crore in FY-2014. The company’s net sales in Q4-2015 at Rs 42.1 crore was 13.4 per cent more than the Rs 37.11 crore in the corresponding year ago quarter, but was 7.8 per cent lower than the Rs 45.67 crore in Q3-2015. The company’s net sales show a linear increasing trend during the period under consideration as indicated by the black broken trend line. 

Until the current financial year, Sterling Holidays has in general been a loss making company. Please refer to Fig 2 above. However, for FY-2015, the company has reported a profit after tax (PAT) of Rs 0.52 crore (0.3 per cent of net sales) as compared to a loss of Rs 21.29 crore in the previous year. For Q4-2015, the company has reported PAT of Rs 2.35 crore (5.6 per cent of net sales) as compared to a loss of Rs 5.78 crore in Q4-2014 and a PAT of Rs 0.82 crore (1.8 per cent of nets sales) in Q3-2015.

Sterling Holidays managing director Ramesh Ramanathan said, “FY-2015 performance speaks for itself. As should the year-on-year improved performance metrics over the last 3 to 4 years. We have begun FY-2016 with a strong, confident note by opening four new resorts in one go at Corbett, Daman, Shirdi and Dindi. Sterling is now in a position to offer varying holiday experiences – from hillside to riverside to spiritual beach and wildlife in 24 resorts across India.”

With effect from 3 September, 2014, Sterling Holidays has become a wholly owned subsidiary of Thomas Cook Insurances Services (India) Limited – (TCISL). As at 31 December, 2015, Thomas Cook (India) Limited through its subsidiaries hold 55.07 per cent of the equity shareholding of the company.

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