1. Home » 
  2. Markets » 
  3. Sinclairs Hotels 52nd AGM Agenda: Dividends & Financial Statements

Sinclairs Hotels 52nd AGM Agenda: Dividends & Financial Statements

Sinclairs Hotels is to hold its 52nd AGM on 18th July to agree on the  Dividends & Financial Statements. 

by Damodharan N

Updated Jun 22, 2024

Article continues below advertisement
Sinclairs Hotels 52nd AGM Agenda: Dividends & Financial Statements

Sinclairs Hotels Limited has announced the agenda for its 52nd Annual General Meeting (AGM), scheduled for Thursday, July 18, 2024, at 11:00 AM (IST). The meeting will be conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM).

Key Points of the AGM Agenda:

  1. Financial Statements Approval:
    • The members will receive, consider, and adopt the Audited Financial Statements for the year ended March 31, 2024, along with the Directors' and Auditors' Reports.
  2. Dividend Declaration:
    • The AGM will declare the dividend for the financial year ending March 31, 2024. The dividend of 50% with (₹1 per equity share of ₹2 each) for the year 2023-24, amounting to ₹512.60 lakh
  3. Director Re-appointment:
    • Dr. Niren Chand Suchanti (DIN: 00909388), who is retiring by rotation, will be up for re-appointment. Dr. Suchanti has expressed his willingness to continue serving on the board.

The AGM notice and the Annual Report for the financial year 2023-24 have been sent electronically to all members whose names were listed in the Register of Members as of June 14, 2024. Members with registered email addresses have received these documents.

For further details AGM notice available here.

Sinclairs Hotels Annual Report 2023-24

Sinclairs Hotels Limited has released its Annual Report for the financial year 2023-24, showcasing a robust performance and significant growth. The report highlights the company's financial achievements, strategic initiatives, and future prospects in the hospitality industry.

Financial Highlights:

  • Total Revenue: ₹6512.59 lakh, up from ₹5733.09 lakh in the previous year.
  • EBIDTA: ₹3134.16 lakh, compared to ₹2537.12 lakh last year.
  • Net Profit: ₹2054.19 lakh, as against ₹3123.20 lakh in the previous year.

Despite a slight decrease in net profit compared to the previous year, the company showed strong revenue growth and maintained a solid EBIDTA margin.

Strategic Initiatives: Sinclairs Hotels continues to focus on expanding its footprint. The company is exploring opportunities for greenfield projects and acquiring existing properties on lease. With strong cash reserves, Sinclairs is well-positioned to capitalize on these opportunities and drive future growth.

Dividend Announcement: The Board of Directors has recommended a dividend of 50% (₹1 per equity share of ₹2 each) for the year 2023-24, amounting to ₹512.60 lakh, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Share Capital Changes: During the year, Sinclairs completed a buyback of 15,20,000 equity shares at ₹200 per share. Additionally, a bonus issue of 2,56,30,000 equity shares was made in the ratio of 1:1, increasing the total equity shares to 5,12,60,000.

Future Prospects: The Indian tourism and hospitality industry is poised for substantial growth, driven by infrastructure development and improved connectivity. Sinclairs Hotels is confident of achieving higher revenues and profits in the coming years. 

Upcoming Project: Sinclairs is in the advanced stages of building a new resort in Burdwan, West Bengal’s richest district, promising to expand its reach and offer more unique experiences to its guests.

Corporate Governance: The company maintains a high standard of corporate governance with a strong board of directors and efficient management. During the year, several key appointments and reappointments were made to strengthen the leadership team.

Read the full report Sinclairs Hotels Annual Report 2023-24

Article continues below advertisement
Article continues below advertisement

Sinclairs Hotels

Sinclairs Hotels is a top choice for both business and leisure travelers, offering exquisite properties in various scenic locations including Siliguri, Darjeeling, Kalimpong, Chalsa in Dooars, Gangtok, Yangang in Sikkim, Port Blair, and Ooty.

Known for its commitment to comfort, luxury, and peace, Sinclairs ensures that guests enjoy every moment of their stay. Regular modernizations and refurbishments, guided by guest feedback and expert recommendations, keep Sinclairs properties contemporary.

Guests can savor culinary delights prepared by expert chefs at the on-site restaurants, while the well-stocked bars provide perfect relaxation spots.


Sinclairs Hotels 52nd AGM Agenda: Dividends & Financial Statements - FAQs

1. When is Sinclairs Hotels' 52nd AGM scheduled?   

Sinclairs Hotels to hold the 52nd AGM on July 18, 2024.

2. What time will the 52nd AGM start?   

The 52nd AGM will start on 11:00 AM (IST).

3. How will the 52nd AGM be conducted?   

Through Video Conferencing (VC) and Other Audio-Visual Means (OAVM).

4. What financial statements will be considered at the AGM?   

The Audited Financial Statements for the year ended March 31, 2024.

5. What is the purpose of the dividend declaration at the AGM?   

To declare the dividend for the financial year ending March 31, 2024.

6. Who is up for re-appointment as director at the Sinclairs?   

The Director who is for re-appointment is Dr. Niren Chand Suchanti (DIN: 00909388).

7. How were the AGM notice and Annual Report sent to members?   

The AGM notice and Annual Report will be sent Electronically.

8. What date were the names of members listed in the Register of Members?   

The cut-off date for the members list is June 14, 2024.

9. What locations do Sinclairs Hotels have properties in?   

Siliguri, Darjeeling, Kalimpong, Chalsa, Gangtok, Yangang, Port Blair, and Ooty.

10. What is Sinclairs Hotels known for?  .

Sinclairs Hotels known for Comfort, luxury, and peace.

11. How does Sinclairs Hotels ensure guest satisfaction?   

Sinclairs Hotels ensure guest satisfaction Through regular modernizations and refurbishments

12. Who prepares the culinary delights at Sinclairs Hotels?   

The culinary delights at Sinclairs Hotels is prepared by Expert chefs.

13. Where can guests relax at Sinclairs Hotels?   

The guests can relax in Well-stocked bars.

14. What is the main theme of the 52nd AGM agenda?   

The main theme of the 52nd AGM agenda is financial Statements Approval, Dividend Declaration, Director Re-appointment.

15. Who is the Company Secretary of Sinclairs Hotels?   

The Company Secretary of Sinclairs HotelsAnanna Sarkar.

16. Where can members find the Annual Report and AGM notice online?   

On the company website and National Securities Depositories Limited (NSDL) website.

17. Who is the Chairman of Sinclairs Hotels?   

The Chairman of Sinclairs Hotels Navin Suchanti.

18. What is the financial year end for Sinclairs Hotels?   

The financial year end for Sinclairs Hotels March 31, 2024.

19. Who are the auditors for Sinclairs Hotels?   

The auditors for Sinclairs Hotels is B S R & Co. LLP, Chartered Accountants.

20. What is the recommended dividend per equity share?  

The recommended dividend per equity share is ₹1 per equity share.

21. What is the total revenue for Sinclairs Hotels for 2023-2024?   

The total revenue for Sinclairs Hotels ₹6512.59 lakh.

22. What was the EBITDA for 2023-2024?  

The EBITDA for 2023-2024 ₹3134.16 lakh.

23. What is the net profit for 2023-2024?   

The net profit for 2023-2024 ₹2054.19 lakh.

24. What significant event happened to Ms. Sujata Suchanti?  

She passed away on December 27, 2023.

25. Who received Ms. Sujata Suchanti's shares?   

Ms. Sujata Suchanti's shares is received by Her spouse, Dr. Niren Suchanti.

26. What is Sinclairs Hotels' paid-up Equity Share Capital as of March 31, 2024?  

The paid-up Equity Share Capital is ₹1025.20 Lakh.

27. Who is the Chief Financial Officer of Sinclairs Hotels?  

The Chief Financial Officer of Sinclairs Hotels is B L Soni.

28. What are the future prospects for Sinclairs Hotels?  

The future prospects for Sinclairs Hotels Expanding through greenfield projects and acquiring existing properties.

29. What sector is key for India's growth according to Sinclairs Hotels?   

The growth in Tourism and hospitality is key to India's growth according to Sinclairs Hotels

30. What policy is available on Sinclairs Hotels' investor website?   

The Dividend Distribution Policy is available on the Sinclairs Hotels website.

Disclaimer : The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.